The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-08-05
FLOUR GOES DOWN
X. C.. Miller Announces 60-Cent
Reduction to Wholesalers.
Similar Decrease to GrOcers
Promised for Wednesday.
DnpY DpInC npnpc A nnIIAp
PORK PRICE DROPS A DOLLAR
Chicago Grain and Provision
Market Demoralized.
Governments Fight on H. c. L.
and Rail Trouble Responsible.

Kansas City, No, Aug. 5.-Flour
prices dropped appreciably here today
with announcement that the govern
ment was contemplating taking over
wheat at the guaranteed price OF $2.2o
q bushel and resell II at lower fig
ure. One milling company announced
a reduction of so cents barrel to
wholesalers. The prospects of rail-
road strike also affected the market
Hogs were selling at IS cents to 81
under yesterdays prices. the largest
drop ever recorded here in single
day. The cause was attributed to gen.
erai agitation to lower prices and pos
sibility of a general railway tieup.
A similar reduction in flour prices
to grocers will be made tomorrow, ac-
cording to one miller
Market DemoraIized.
Chicago, Aug. 5-Demoralization
seized tho grain and provision trade
this afternoon and forced down corn
S N cents a bushel in some cases and
pork $3.50 a barrel Extreme breaks
were to $1.39 for May delivery of corn
and $44.50 for September delivery of
pork.
New York, Aug. 5.-Following
slump which carried prices to the low
est marks, they have seen in months,
the stock market today responded to
heavy buying orders and rallied sharp
~ just after noon. Selling had been
smothered by buyers, apparently and
steels led a climb that swept them
into higher prices than they have ex-
perienced for two days. After selling
below los. U. S. steel advanced to 106,
while crucible quickly jumped above
1873, after a low of 126 and frac-
ton.
Other stocks responded in proper
ton.
Cotton Declines 81 a Bale.
New York, Aug. 5.-There was
continuance of yesterdays excited SELL
ing in the cotton market today and
further sensational break in prices
with October contracts selling off to
3O.S5 during the early trading. This
made a decline of nearly 81 per bale
from the closing price yesterday and
of about cents a pound or S25 a bale
from the high level touched toward
the end of last month. Rallies of sew
eral points followed but the market re-
manned extremely nervous with senti-
ment disturbed by the generally un-
settled labor conditions, t he large
amount of old crop cotton remaining
and favorable weather for the coming
crop.
Local millers said late this afternoon
that they had heard nothing about a
reduction in flour in Topeka. They
expressed belief that the lowering of
flour prices in Kansas City was due
to the reduction in the premiums paid
for wheat over the government price.
and that unless there were further de-
velopments, no reduction might be ex-
pected here.
It was stated that the contracts the
mills have with the food administra-
ton provide that the latter has the
right to reduce prices at their own dis
erection. For example. the government
price on hard wheat is s2.2O at Kansas
City. II this was reduced by the food
administration to 50, or 20 cents a
hundred. it would mean a reduction in
the price of flour Of four and a half
times 20. or 90 cents barrel