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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 01, 1919
Page
19
Chicago grain market shows brokers' customers' loans at 6 percent. Outside brokers' call loans at 6 percent. Customers' commercial loans at 6 percent. Individual customers' collateral loans at 6 percent. Commercial paper quoted 4 1 4 to 6 percent. Year money at 3 8 to 6 percent.
Washington Senate debate centered on reducing currency in circulation. Senator Myers argues money supply fuels high prices and Bolshevism, while wage increases feed living costs. Senator Poindexter notes $100 million to feed Europe but rejects $1 million for Americans and cites meat and food price maintenance.
A resolution was introduced in the Nebraska House to petition Congress for immediate legislation that stops profiteering and brings all food and life necessities to fair prices at the earliest date.
The directors of United Drug Co declare a regular quarterly dividend of 1 percent on the Second preferred stock payable September 1919 to stockholders of record August. Ames C. Raston J Treasurer.
Lawmakers debate deflating prices through measures to curb food speculation on exchanges and selling this year's wheat crop at market prices rather than the government guarantee, with the difference to be covered by the government.
Attorney General Palmer held a three hour briefing with eight senior officials to review high costs and potential actions to curb profiteering. Attendees included Secretaries Glass Houston Redfield and Wilson, Hines, Murdock of the Federal Trade Commission, Leffingwell, and Colver.
A voiced opinion cautions that radical changes to the current system would not benefit the broader situation. The speaker argues against sweeping reforms and questions potential outcomes. The remarks reflect broader community concern about policy direction and stability.
Washington July 31 William G Lee chief of the Brotherhood of Railway Trainmen announced that unless the railroad administration acted by Oct 1 to raise wages or lower living costs the union would take steps. A 16 member committee at the Columbus Ohio convention adopted the resolution and would reconvene if no action. Lee criticized profiteering and warned of an approaching upheaval while urging national unity to curb increases.
Prospective purchasers from the state education department and the State Hospital Commission began negotiations for surplus army food stores today through Commissioner Eugene H. Porter. Supplies are stored at government warehouses in South Schenectady and are targeted for cooperative purchase plans.
President Wilson is pressed by labor and railroad leaders for direct action to curb living costs. Unrest grows as strikes rise and wages lag, with AFL and others backing the Kenyon bill to curb packers. A Massachusetts Superior Court judge’s letter illustrates aggressive pro packer propaganda challenging regulation efforts.
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