The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-01-29
MUCH IN STORAGE
But Retail Prices Cling to the
High Level.
Wartime Charges for Food
stuffs Still Here.
GREATEST STOCKS EVER HELD
Conditions Like New York in
Other Food Centers.
Production Now Has Reached
Highest Point in U. S.

New York, Jan. 29.-Food specula-
tors in the United States hold the
greatest stock of edibles ever gathered
together in storage warehouses of
this country. Prices are higher than
ever in the history of America. Prices
cannot maintain the high level at
which they are now placed. Produc-
ton meats is cheaper, and as a con-
sequence the governments price of
$3.50 for hogs is bound to come. down.
A market panic of Importance is i'm
pending.
These are statements made today by
2. Q. Foy, market expert, to the
United States.
South American, New Zealand, Aus
trallan and Siberian goods are begin
ming to appear on the market, Foy
also said, and the effect is being felt.
Prices must fall more than they have
recently and spectators stand to lose
millions in the tumble.
Already, Foy stated, spectators in
New York have felt a million slip out
of their pockets thru the importation
and sale of 500, 100000 pounds of ST.
berian butter. AS much more, he
said, will be thrown on the market
products, he declared, are on their way
to this country to help in the smash
ing of the food speculator.
\ Staggering Accumulation.
F'oy quoted figures to prove that
production has reached its highest
point. He declared it has climbed to
such figure that glutting of the mar
ket is certain to follow People, he
pointed out, have been living on re-
duced rations during the war, while
the government has urged greater pro-
duction. The result has been a stag
gering accumulation of foodstuffs in
I warehouses.
reaT-r1T ont rnT nrf he
show there are 900,000.000 pounds of
! frozen pork in warehouses, $50. 900, 900
| pounds of frozen beef and 106, 100000
! pounds of frozen poultry held in the
! hope that prices will go higher. Hold
| ings of mutton and lambs are SO per
cent greater than in 1914, the year the
war started. Pork holdings have in
| creased IS per cent in that period, salt
pork / per cent, and picked pork Il
per cent Today, Foy said. there ara
5OS84441 pounds of frozen beef in
storage, whereas a year ago there were
234,055,592 pounds
Beef produced in 1918, his figures
showed, mounted to $500, 900. 900
pounds. against 6,079,0O0.000 pounds
! in 1914, an increase Of 2,42O,00O.0OO
pounds.
Pork production. he showed.
reached S,769, 600 pounds in 1914,
and 1O,50O.O00.ee0 pounds in 1913.
| Mutton ana hmb production in
/! creased from 4SO,UUO,VVO pOullNo III
I1914 to 100000 in 1918.
| Difference in Times.
Five years ago, he said, it required
j a week for a farmer with two hired
/ men to prepare fifty acres of land for
! food production. Today, he said, ma
chinery had made it possible for that
| land to be put in shape for produc-
ton within a day The difference, he
said, will make itself shown in days
to come by reduced prices.
! Butter in New York, Foy declared
/ has declined % cents during the last
i seven days, as a result of butter i'm
portations. Spectators, he stated
have lost about $1,000,000 on the de-
cline.
Wisconsin cheese, Foy said, dropped
9 cents yesterday, with an immediate
effect here. Milk products will slumI
at once everywhere, he predicted.
Butter here slid into another de-
cline today when extra creamery
dropped 3 Z to cents. 1t is now sell
ing at 461@ to Al cents and in the
words of Foy, weak at that"
Constant piling of products witt
speeded production, due to increased
number of workers, will cause con
dition. he thought, that may result il
catastrophe for spectators unless they
begin getting ready for it by making
sales