WESTERN FARM PRODUCTS

Evening Post, Volume CVIII, Issue 26, 30 July 1924, Page 7

WESTERN FARM PRODUCTS

GRAIN AT HIGH LEVEL

POLITICIANS BUSY WITH EFFECTS.

(UNITED PRESS ASSOCIATION.—COPIRIOHT.)

(AUSTRALIAN-NEW ZEALAND CABLB ASSOCIATION.) OTTAWA, 28th July.

A telegram from Montreal says the rise in the prices o£ farm products continues unabated. Cotton has increased 22 dollars a bale, representing a rise of 220 points over the week-end.-This rise, however, has been checked by a Cotton .Exchange ruling, which halts trading for the day whenever the daily fluctuation totals 200 points. Cotton for October delivery gained over four cents over the week-enll, reaching 30 cents a pound. This caused- consternation in the foreign markets and in spinning centres, which fear the effect of the prohibitive price levels on domestic consumption.

In the meantime United States wheat continues to hover about 1 dollar 34 cents, while Winnipeg is at 1 doliar 50 cents. The latter price is being investigated now by Canadian Government officials, who declare that speculators have circulated alarmist reports regarding the condition of Western Canada's crop in order to reap enormous profits from last week's rise.

Optimism has caused other grains to rise sympathetically. Maize, which is largely fed to live stock, has reached 1 dollar 11 cents, and this is causing an increase in the price of live stock notably hogs, which have reached 10 dollars a hundredweight. This is the highest price since 1922, and represents a gain of 3 dollars a hundredweight within a fortnight. b Republican leaders are jubilating over the revival of the agricultural markets, and are becoming convinced that the Presidential campaign should stress the economic factor to gain the confidence of farmers who have lately been ominously dissatisfied. The Democrat*, however secretly hope their rivals will adopt this slogan believing that it can- easily be proved that the so-called prosperity came largely to speculators and isolated farmers. The Democrats, furthermore, cite the gloomy figures of lowered industrial production and the decline in fac lory employment.