The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-05-21
FOOD PRICES
MUST FALL
CONTINUED from page IL

- WIZ = ASASAAS
MUST FALL
CONTINUED from page L.
credit deflation, officials in touch
with the nations banking system
predicted today.
The breaking up OF the freight car
congestion, started today by the
interstate commerce commission, is
also expected to result in lowering
of prices.
AS free distribution OF commodi-
ties is resumed, decline in prices
which may reach ten percent is look
ed for by some government experts.
George Hoges, of the American
Railroad association, said:
"It will enable manufacturers TO
vastly increase production and this
will end shortages of commodities in
many localities"
Officials here today differed as 10
whether the federal reserve boa "a
would be able to carry through its
program Of deflation.
Wages Not to Drop.
NEW YORK, May 21.-Organized
labor does not expect concerted
lattempt by manufacturers to reduce
wages as a result of the present
trend toward reduction of prices.
Hugh Frayne, general organizer or
1.-THE American Federation of Labor,
said.
Frayne further said that if the
cost OF living is reduced appreciably,
labor would not have to make so
many demands for increased wages.
| Bread Not Falling Yet.
MINNEAPOLIS, Mimi, May 21-
Bread prices are not likely to decrease
soon, according to big flour millers
here today who say that drops in flour
prices can be of little immediate bene-
fit to the consumer or baker because
Of lack Of transportation to move the
flour from the mills,
Wheat and flour continued to de
cline here today. Wheat was off from
five to fifteen cents on the local mar
ket Flour prices were down to from
$3.50 to $3.50 a barrel for family
patents.
Mills have contracted orders to
keep them going for sixty days.
Bread was selling at from twelve
to fourteen cents loaf here and in
st. Paul today Bread retailed in Chi
cago today for seventeen cents for
large loaf.
Merely Cleanup Sales.
SAN FRANCISCO, May 21-"An-
nual cleanup sales in every section
Of the country are Historically being
mistaken for downward movement |
in prices"
This was the Interpretation given |
today by heads of the Manufa cturers |
and Wholesalers association, which !
this week is holding a buyers
week" in San Francisco, to the tele-
graphic dispatches from eastern !
trade centers regarding price reduc- |!
tons
Prices are not coming down, 1T |
was emphatically stated.
S. l. Bernstein, chairman OF the |
association, branded the wire dis |
patches as "hysteria.'
There is nothing unusual about |
twenty per cent reductions, or even |
greater cuts. It happens every year /
in every store. Certain goods are {
held over. Styles change. There is .
a desire to sell out certain articles !
There is no philanthropy" de-
clared Bernstein. tits just good |
business"
Mems Clothing Cheaper.
? INDIANAPOLIS, Ind, May 21.-
Mems clothing hit the bargain coun-
ter here today.
One store advertised mems suits at |
s24 to s34. the prices of which ranged |
announced drops Of !
from twenty to fifty percent in COM
modities.
An attempt was made to boost !;
bread from eleven to twelve CENTS &
loaf. but the price dropped back a
cent. ..
Predict Groceries Tumble.
CHICAGO, May 21.-Decreases n
food prices were predicted here to-
day by wholesale grocers, as reports
from the middle west and west
showed further declines in the cost
Of living
There have been no decreases in
grocery prices as yet, wholesaler
declared, but they say It is bound to
come.
Packers say meat prices are de- J.,
creasing steadily.
According to Swift and Company,
there has been five percent de-
crease IN the prices Of the principal -
meats These include sirloin and :,
round steaks, rib roasts, pork chops =
and ham.
Henry Sprague, head of Sprague, !
Warner and Company, wholesale gro d
GERS, said prices would fall soon i
He predicted the tIInbling of gro
,ery values when banks begin to call
he loans of food spectators. Sew
sral million tons of sugar are being 6
held in Chicago for speculation, &C 7
,ording to federal investigators. n
Sears, Roebuck and Company, r
mail order house in the world, /
say there has been no change in G
present prices. u
1--WE prepare our prices six months
n advance" said one of their officials