The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-01-29
HOG PRICE FTXERS
DISGUST EXCHANGE
Making February Quotation
$3.50 Stirs Indignation
of Provisioncrs.
HARD BLOW TO CONSUMER
Artificial Levels Means In
definite Continuation
of II. c. of L.

The action OF the hog committee OF
the Food Admlnist ration in fixing a min
imum base price for hogs at $3.50 a
hundredweight for February notwith-
standing earnest pleas OF trade ex-
changes in this city. Chicago and other
cities that the natural laws OF trade
should be permitted to operate now that
the war is over caused much indigna-
ton and disgust among members Of the
New York Produce Exchange.
II there was a single man on the ex-
change who approved OF the Govern
ment's stand in favor OF continuation OF
artificial prices in the face Of n country
wide demand OF consumers that the cost
OF living must come down he didn't go
on record The great majority. when
asked what they thought OF the Continu-
ance OF fixing hog prices, replied: II
think IT la a damned outrage" Others
we're more emphatic in registering their
opinions
1t was common report all over the
exchange yesterday that when Edward
Flash, Jr., president OF the exchange.
was in Washington n few days ego he
received n cordial invitation to attend
yesterdays hog price fixing meeting. but
with the understanding that he wouldn't
say anything. Mr. Flash declined the
invitation.
Prices Go Up in Chicago.
knowledge that the hog price fixing
programme would go through with bells
on sent prices k!ting upward in Chicago
Corn. which goes TO make pork, went
1919 cents per bushel higher than the
low price OF the day before. Oats ad-
vanced cents from the low point OF
the preceding day. Rye advanced Il
cents from the low point OF Monday.
Pork was 81 higher, lard SO cents higher
and ribs so cents higher.
The hogs which enjoy the protection
OF the Government are hogs whose weight
ranges from lGO to 225 pounds Hogs
weighing below or above this range of
weights do not come within the price
fixing programme AS result Of this
policy 80 called light weight hogs sold
here at wholesale yesterday at Is cents
pound. while the city price for the pro-
tected hog was Il cents a pound.
The opinion was freely expressed that
the determination to maintain fixed
hog prices for another month will have
beartsh effect on the market for a
while and will create a situation out OF
which the consumers Of the country can
This was a favor!te line Of argument
among traders opposed to Governmental
price fixing: The maintenance OF a
high price on hogs will give retailers
a good excuse to soak Mrs Housewife
while the soaking is good. 4 continu-
ance OF art!hcially high prices will
lessen consumption. If consumption de-
creases stocks will accumulate and then
there still will be an artifcia, situa-
ton that will have to be handled after
all.
Hoover with Farmer-
All reports received by Produce Ex-
change members during the afternoon
indicated that Food Administrator
Hoo, er's sanction was given to the hog
price fixing for February on condition
that packers protect the farmer and the
producer in maintaining a stimulated
production o. pork. and everybody
started to ask everybody else where the
consumer IS coming in. with consumers
demanding that the costs OF living be
lowered. with unemployment increasing
and the returned fighters coming back
to reenter civilian life. the BELIEF was
very generally expresse that there will
be increased agitation in every State in
the Union that Congress- do something
to restore the business OF the country
10 a normal basis and do away alto
gether with price fixing and restrictions
on foodstuffs.
1t is generally believed that the rea-
son why the packers were not displeascd
to see the $3.50 fixed price for hogs
kept UP is because they are loaded up
with enormous stocks OF all kinds Of
meat and meat products and lower
price for hogs. which would have fol-
lowed had Governmental price fixing
stopped, would result In a lower price
for their other meat holdings.
The -four interests are tremendously
interested in the return yesterday from
abroad OF julius ii. Barnes, head OF tho
grain corporation Of the Food Admin
istration. Mr.. Barnes made a tour of
central Europe and had numerous con-
ferences abroad with Mr.. Hoover and
allied food controllers. Mr.. Barnes said
that until ne had an opportunity to