Arizona republican., 1919-04-30
BARNES SINASHES
 HIGH PRICES BY ATTACK ON FLOUR
Corn, Pork Products And Other Food Stuffs Drop Wheat Director Says Flour Advance Not Warranted Bulletin Is Second Warning

CHICAGO April 29.-Julius H. Barnes, president of the grain corpora tion of the food administration, made an assault on high prices today, which was promptly reflected on the board of trade in q maximum decline of 1is cents in the price of corn.
 Of possibly more interest to the housewife, was the slump in the pro- visions market. Pork dropped an ex- tTeme $1S0 per barrel while short rib sides, known to the breakfast table as bacon, declined d maximum of S1 per hundred weigh, as compared with the close yesterday.
 MT Barnes assault came in the form of a bulletin of announcement to the trade. It abounded in technicalities, but it's purport was plain, to wit-that the speculative tendency in white flour must stop
 As an earnest of his intentions, the president of the grain corporation an nounced that the corporation would cease buying flour for export (eXcept first clears and Victory mixed flour) and that also it would resell at such important centers as New York, Balti- more and Philadelphia, flour previously bought for export. He named the price as "S1150 jute per barrel" The tech nical portion of the bulletin dealt with instructions to millers and grain men generally, but the explanation of his action was plain to all.
 The purpose of this" said the bull letin, 'is to stop the speculative fever in flour before it becomes necessary to take off all restrictions in foreign wheat and flour, for there is plenty of Amer jean wheat and flour, if this specula- tive tendency is checked
 Threat is Realized
 MT. Barnes threat, the trade realized instantly, had back of it the fact that Canadian granaries and elevators are fairly bursting with wheat, at the doors of the United States, not to mention the vast stores in Australia and Ar GsF1tina.
 1t is explained that the Canadian supply has been comparatively little impaired by export sales, for the req son. it is said, that Canada is not al present in a position to extend tho :Atne credit to Europe that the United States is Also it has been kept ou Of the United States by the restrictions Of the government, which is not un' mindful of the record breaking domes tic crop in prospect.
 The government long ago, as a wa measure eliminated wheat from th' speculative arena, but the fortunes o wheat are proportionately the fortunes of corn. oats and provisions also, ant these staples showed the effect of tn pronunciamento.
 Prior to the bulletin, the corn marke had been wobbly and off few cent for variety of reasons, including Tn creased receipts and lower quotation for live hogs. They were sold ou wholesale and when the real breal came in the afternoon, dropped like nhimmet and were near the botton when the closing gong sounded. Evel affer that. curb trades were ofterlni Julv corn 7s Of a cent under the ottl ciai close, which was s1.55% to $l.54 4
 NEW YORK. April 29.-Commentin on his notice that government pur chases of flour for export would D discontinued, with 3. view to stoppln speculation. Julius II. Barnes, fedora wheat director, announced through tn food administration grain corporauo today that the speculative tendenc Threatened. unless checked, to carr flour prices above their proper reflec ton of the federal resale price 0 wheat.
 Under the government resale rates the statement said, legitimate mlllln was protected for fair returns. Sine there was in the hands of America millers. or directed by them, it con tinued, eighty to ninety million bushei of wheat, only part of which prooapi was directed to flour users, the pres rnt sharp advances in flour were nc hfulIy warranted" If they were con tinued, the announcement read, impoI restrictions would be relaxed to per init foreign wheat and flour to enter.
 Today's warning to spectators wa inc second issued by Mir. Barnes thi month