PRICES RISING.

Hawera Star, Volume XLVIII, 30 July 1924, Page 5

PRICES RISING.

FOR FARM PRODUCTS. POSITION IN AMERICA. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. OTTAWA, July 28. A telegram from Montreal says the rise in the prices of farm products continues unabated, cotton increasing to 22 dollars a bale, representing a rise of 220 points over the week-end. This ascendancy, however, was checked by the 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-end, reaching 30 cents per lb. This caused consternation in foreign markets and spinning centres, which fear the effect of prohibitive price levels on the domestic consumption. Meantime United States wheat continues to hover round 134 cents, whereas Winnipeg is quoted at 150 cents. The latter price is being now investigated by Canadian Government officials, who declare that speculators have circulated alarmist reports regarding the condition of W T estern Canada’s crop in order to reap enormous profits resulting from last week’s rise. Optimism has likewise caused other grains to rise sympathetically. Maize, which was largely fed to live stock, reached 111 cents, bringing a consequent increase in the price of live stock, notably hogs, which reached ten dollars per ewt., the highest since 1922, and representing a gain of three dollars per cwt. within a ■fortnight.

Republican leaders, jubilating in the revival of the agricultural markets, are becoming convinced that the Presidential campaign should stress the economic factor, namely, the good times, hoping thereby to gain the confidence of the farmers, who lately have been ominously dissatisfied. The Democrats, however, secretly hope their rivals will adopt this slogan, believing it easy to prove that the socalled prosperity came largely to speculators and isolated farmers. The Democrats, furthermore, cite gloomy figures, lowered industrial production, and a decline in factory employment.