New-York tribune., 1920-02-17
Big Price Cut
Predicted as
Food Arrives
Ships and Miles of Trains
Loaded With Provisions
Expected to Begin Pour.
ing Into the City To-day
Hoarders Face Losses
Low Rate of Foreign Ex-
change Held Responsible
for Promised Reduction

for Promised Reduction
Streams Of provisions, pouring in
upon New York from half dozen
sources, promise to bring about in the
near future the long g-promised collapse
of high food prices.
Thousands of tons Of potatoes, eggs
and butter fill the holds of three ships
headed for this city in search of new
markets. Miles of trains loaded with
fresh fruits, vegetables, eggs and live
stock are expected to begin pulling
into the city to-day.
But Of most Importance, according to
figures in the hands of Edwin j. O'Mal-
| ley, Commissioner Of Markets, is the
fact that the city's cold storage houses
hold so per cent more butter, eggs ana
cheese than were held at this time last
year This supply Of food says the
market expert must be dumped upon
the market in the near future or take
its chances with the rapidly increasing
food supplies that are arriving from
upstate agricultural districts.
Even milk, according to evidences
that were to be seen in the city's mar
ket districts yesterday, probably will
feel the effect of the oversupply of
foods and be forced down. The numer-
GUS calves being sold here, market men
say, mean greatly increased supply
of milk, which will result not only in
an abundance Of that essential of the
breakfast table, but of butter and
cheese as we'll.
Hoarders Face Big Losses
incidentally, it is declared the food
hoarders who have been responsible
for the present high prices have over
reached themselves and are due to
pocket big losses. Egg and butter
in the position of having to choose
between breaking the market by bring
ing forth their large supplies Of these
commodities or awaiting the more
disastrous losses that will follow the
landing of European supplies here.
The record low rate of foreign ex-
change is said to be responsible for
the promised reduction in the cost of
living The butter, egg. cheese and po-
tato cargoes that are New York bound
from Holland, Sweden and Denmark
consumption. But the rate of exchange
between Germany and her neighbors
reached point where business not
only became Improbable. but impossi-
bic.
SO the supplies intended for Ger
many We're loaded on ships that are
expected to arrive here before the
close OF the month. On one ship is
224,o0o pounds Of Danish butter. Po-
tatoes fill another ship bound for this
port. Inc potatoes, according to prices
quoted, should retail at 9 cents a pound.
after yielding a wide margin of prof t
to everybody concerned in their sale.
AS against the and 9 cents a pound
being charged here yesterday, that re-
duction alone will be welcome to New
\ ork housewives.
Piers Piled High With Supplies
Cabbage, which is being sold on the
docks at Holland for shipment to the
United States at ] cent pound, is ex-
pected to be landed here to be retailed
at not more than 3 cents pound,
yielding an equally generous profit to
the investors.
Another enemy of high prices here
is big supply of smoked ham, which
is to be shipped from Copenhagen Un-
usually large boneless hams, most of
which we're cured for German tables,
are awaiting buyers. 1t is expected
they will retail here at something un-
der 80 cents a pound, as compared to
the 80 cents pound being charged
for boiled ham Of lower grade in the
city's delicatessens.
In addition to these supplies the Erie
Railroad piers in New Jersey are piled
high with fruits and vegetables from
California, which are awaiting delivery
in the city. Other freight trains are
awaiting the loading Of this food in
order to make way for their cargoes.
From Florida there are almost equally
large supplies of oranges, tomatoes.
lettuce and grapefruit The Pennsyl-
vania Railroad piers have been tied up
for days with these supplies.
Cold Storage Houses Filled
That the cold storage houses are
filed with far more Of such foods than
the spectators would care to hold un
til the arrival Of mild weather is evi
dent from figures provided by Com
missioner O'Malley.
Supplies in storage, as set forth in
statistics recently compiled, compare
with last years figures as follows
Butter 49,: :....... 27.725.lo4 l5,6S2 III
American cheese ls.l4o,149 1859 5
Other cheese ~ 4'92l.519 S.2o3929
Eggs ............. 1880 6S62l5
All the figures given above represent
pounds.
Butter yesterday sold here for prices
ranging from 70 to 80 cents pound.
In stores owned by men characterized
by the Market Commissioner as 'con-
scienceless profiteers" "a cents was
charged. The butter soon to be mar
keted here Will sell for 54 Il cents at
wholesale. making it possible to sell it
for so cents or under.
Potatoes sold mere for $675 barrel
yesterday, following the drop in prices
resulting from the reports Of the in
coming supplies The potatoes chat are
en- route to the city viii! retail for s5
a barrel or less.
COON MORNING.: