Evening star., 1923-10-25
HOG PRICES broken.
| BY HEAVY SELLING.
Live Stock Expert, Replying
to Secretary Wallace,
Sees "FaIse Alarm"
BY the Associated Press.

CHICAGO. October 25.--An in
creased supply OF approximately 35
per cent on hogs over the correspond
ing period of last year is the cause
OF the decline In hog values, Everett
c. Brown, president of the Chicago
Live Stock Exchange. said here In
answer to Secretary of Agriculture
wallace's statement recently that an
investigation would be made to de-
termine II the slump In prices was
the result of undue influences.
Secretary Wallace states that dur
ing the past month hog values have
declined more than $l.50 per hum
dredweight while the price of corn
increased 81 cents bushel." MIR.
Brown said BASED on supply figures
compiled by the Department OF Agri-
culture nearly 100000 hogs were
marketed during that period, indi-
ca ting a loss to producers by depre-
based on an average weight of 200
pounds. or an aggregate sum between
$s, 900, 900 and ss,000,00O.
Calls supply Major Fnetor.
THE secretary announces that the
department Is making an lnVes.sa
tion to determine II the slump In
prices is the result OF undue inhu,
ences. As supply during that period
was approximately 35 per cent great
ar than during the corresponding
period OF last year. this must be rec
osnized as the depreciating ractor ol
major Importance.
information, the slump IS directiy AZ
tributable to a false alarm OF ooiI1r
corn and five-cent hogs. | am not
talking cheap corn. but 90 hot pc
lieve conditions warrant suGh sue,
rrophesy, but this VIII not De q ;a. uoi
lar crop, Much OF II will grade low.
owing TO high moisture content and
much will be subject to mold and rot
unless fed.
These badly informed farmer ad-
yisers are largely responsible FOR
semi -panicky feeling In corn belt
asrtcultural circles. They have
succeeded in stampeding the country
into throwing young hogs oVerpoaro
ut an inopportune and critical mo-
ment. ffooding every live stock Market
IN the country with stock OF the kino
killers cannot utilize adHantageously
and creating temporary excessive
eunnlv that will be reflected in
scarcity and high prices rev months
honce.
Scores Glib Marketing Talk.
I'VE have heard a lot of glib talk
about orderly marketing or 1--WE STOCK
and vet the element that has MADE
such talk Its stock in trade is re-
sponsible for the reverse condition.
disorderly marketing. They nave
within the past thirty days talked the
hog market down Sc per hundred i
weight, and the cattle market into
semi-dsmoralized condition.
What the corn belt farmer or al
least that element which llatens 10
these counterfeit oracies. needs Is re-
lief from a coterie of nl-edvisers.
They have thrown a scare Into i've
stock feeders that has cost them an
enormous sum.
There Is no logic TO the present
situation at the live stock marke
Meat consumption js enormous. stocks
are low and European demand Tor
hog products unprecedented.
Urges Change of Views.
There Is danger that these men
will create q psychological condition
In the country that may prolong this
senseless sacrifice OF immature live
stock. The time for orderly market
ing is right now and the most ef-
feCtiye method OF accomplishment
lies In creating assurance that corr
will not be stored in fire and burglar
proof safes or that cattle and hogs
cannot be profitably fed TO reason
BILE stage OF maturity.