Evening journal., 1920-05-21
MEATPRICES DOWN;
GROCERLESD DUE NEXT

CHICAGO. May p Omitted Press q;
Decreases in food prices were pre-
dicied here today by wholesale gro
GERS reports from the Middle West
showed further declines In the cost
Of living.
There have been no decreases in
grocery prices as yet. wholesalers de-
clare, but they say price cutting Is
bound 70 come. Packers say meat
prices are decreasing steadily.
According b swift and Company,
there has been a i've per cent de-
crease In the prices OF principal
meals These include sirloin and
round steaks, rib roasts. pork chops
and ham.
Henry Sprague, head or sprague,
Warner and Company. said Wholesale
prices would fan soon. lie predicted
The tumhling Of grocery values when
banks begin TO call the loans OF
food spectators. Several million
tons Of sugar are being held IN Chi
cago for speculation, according TO
Federal inNestgatOrs.
Sears ROebuck and Company, larr-
est mail order house In the world.
say there has been no change in
present prices.
I'VE prepare our priCas six months
In advance SID one OF their OH
cials today. -Right now we are pre-
JEiring prices for this fall They
win DO lower.
''Prices have been too high" he
sad in commenting on the situation.
Clothing and furniture prices will be
lower soon, Sprague said.
NEW YORK, May p tUnlbsd Press)
Decrease in The price Of clothes and
olher commodities Is bound TO affect
eventually the price or food accord
Ing TO the opinions expressed by
leading wholesale grocers today.
Although no immediate drop IN food
prices Is In prospect, they said tho
moral influence OF the reduction In
quotations OF other commodities will
be felt IN food, probably when the
freight congestion IS relieved.
Proper distribution OF food pro-
ducts rs now impossible because OF,
ihe freiglt tieup Peter j. Smith. head
or the purchasing department Of one
Of the largest foodstuff iobbers in,
the world stated today
Action OF the National prcservcrs
and Frlit Products Association in
dciding 10 close down. their fac
tories rather than purchase sugar at
the present prices was expected 10
have some effect on the sugar mar
ket. Members OF the association use
2J0OO00O0 pounds Of sugar a season. /
CHICAGO, Nay 2i CUnited Press)-l
Food prices hesiiatingly joined tho
procession downward today.
EEgs, fresh vegetables and butter
dropped slightly. 0ihor foodstuffs
remained stationary or travelled up
wards.
Explanation FOR this failure to re-
cpond to conditions affecting other I
markets were numerous. Damano /
has kept up with the supply-somc- |
Times surpassed, dealers said. Stocks /
have been smaller, tying up less cap
itsl. Also. it was admitted. The fu- |
iure OF food production is less, due /
70 the problem OF the farmer IN /
securing help, weather conditions and /
decreased acro3ges.
On the Chicago grain markets The /
feeling as indicated in the trading, |
Vas that prices will continue 10 rel
ceoc as a part OF the general scheme /
of delatiOn. Upturns are expected, /
but they arc not looked upon as per- /
manent.
Hotel buyers today found some
prices descending. These included I
large cuts OF beef and fresh vege- |
tables. They predicted a gradual
lowering.
WASHINGTON, May q United |
Press. s.l,-Prices Will be reduced at |
least q per cent II the Federal Re |
serve Board is able TO carry through