The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-10-14
GRAIN RISE
WILL CHECK
PRICE FALL
# Hueston Grants Farm.
erg Demands Cost Of
Necessities to Soar.


Chicago, Oct. 14.-United Pressl
prices Of necessities will
soar to new high figures in case
favorable governmental action is
taken on demands Of farmers in
Washington for lowering Of the
federal reserve board rediscount
rate and expansion Of credit was
the prediction of grain men here
today.
"If the government acts favor
ably on the farmers demands it
will mean high prices again" said
Howard Jackson, a member Of
jackson Brothers, grain firm. "The
result would be disastrous. 1t
would check the present price de-
cline.
What farmers are after is to get
the government to fix a price for
wheat. II this happened prices
would rise and the radical move
ment throughout the country would
grow in serength as q result"
That farmers are losing money
was admitted by grain experts.
This, they said, was due to the
large corn crop which caused prices
to drop below cost Of production.
Will Ask Government Aid.
Washington, Oct 14.-(United
Press. demands for government
aid in financing marketing of crops,
to save farmers from being ruined
by falling prices, will be put direct
ly to Secretary of the Treasury
Houston today by farmers in ma
tional conference here.
I'VE also shall insist that the
secretary of the treasury desist
from making public statements that
prices are falling, said Charles1S g.
Barrett, president Of the national
board Of 80 farm organizations
which convened the conference.
! Farmers are not asking special
privileges. We're merely asking
that the government. through the
! treasury or the federal reserve
bank, make 1t possible for US to
! obtain loans from banks vitality
needed. Bankers fear to loan
money on crops becau.e e of the dan
ger Of falling prices. This is a state
of mind resulting from statements
and predictions by government offic-
falls that prices are falling"
The farm officials today also
planned to confer with Secretary OF
Agriculture Meredith.
Barrett said it was nkely a per
manent committee will be left here
when the national conference ad-
journs to watch the economic sit
uation and work for the agricul-
tural interests.
Stormy Conference.
! The national conference was tt
have adjourned last night. 1t wal
held over, however, following q
stormy conference with Governor
Harding Of the federal reserve
board. The farmers demanded the
board lower the discount rate tt
enable farmers to obtain loan!
more easily and at lower rates o
interest. Harding promised tina,
the needs Of the farmers would b.
given consideration at q meeting
Of the governors Of all the reserve
banks now being held here.
! Following the conference will
Harding the farmers groups ISSUED
statements intended to show tha
cotton, wheat, milk and tobacc,
are now being sold at prices IA
below the costs Of production.
Cheaper Coal for Consuners.
II New York. Oct. A.-The fail
, practice committee Of the Northern
West Virginia coal operators me
here yesterday to further its PLAN
; Of providing cheaper coal for con
. sumers In the operators district
4 The northern section Of West Vir
ginia has been divided into eigh
. districts similar to the plan Of th'
. fuel administration during the war
Coal for domestic and industria
. requirements Is furnished at IS t,
$6 ton.
Attorney General Palmer, in /,
, telegram. told the committee It
|, efforts in reducing the price of Goa
was gratifying. but that it was o
the highest Importance that the re
n iduction in prices thus begun shoul'
be extended so as to include oper
atoms In other districts and Goa
Y; for delivery throughout the coun
try. He urged the committee q
we'll as operators throughout tn
: country to take such action as vii
/ tighten the work Of the departmen
Of justice by reducing the numbe
/ Of prosecutions to be Instituted TO
violations OF the Lever act Il
charging unreasonable prices.
= Heuston's Position.
Secretary Houston reiterated tc
!. day to representatives Of agricul
tural interest in conference her
! that tho treasury would not be
party to the Withholding Of an
commodity from the market in o!
4 der to maintain artificially hig
Iprices.
II Spokesmen for the delegatio
we're frank in. their criticism {
. Mr.. Houston's .recent statemer
; that prices had begun to reced'
q hnf the secrefarY fald them q