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Newspaper
Chicago Packer
Location
Chicago, Illinois, United States of America
Date
Jun 21, 1913
Page
1
Chicago dealers dispute the Elgin butter board practices with claims of price manipulation and wash sales aimed at setting market levels. James P. Younger, a leading Chicago butter broker and processor, is cited as the heaviest buyer close to the board president, allegedly shaping bids and pricing across Elgin and Chicago markets.
A dense index of early week market notes across cities and crops. Reports cover Elgin wash sales, potato markets in Oklahoma and Kansas City, melons and citrus prices, butter in Chicago and New York markets, with status on cantaloupes, bananas, and peppered notes on rail tariffs and drought impacts. Includes references to Crain’s creditors meeting and various city markets from New York to California.
A forged draft scheme aimed at the butter egg and poultry trade surfaced in New York. The Mountain View Produce Co of Missouri allegedly shipped goods and drew drafts totaling up to 1000 dollars. W W Elzen DeWinter Co George M Rittenhouse Co and C Bishop were targeted firms. The bank at Willow Springs Mo processed the fraudulent draft.
A fragmented OCR item notes limited participation with only a few entries. The readable text includes references to produce and a possible place or group named Mountain Biem and Conia, but details are unclear. No dates or concrete actions are evident from the fragments.
A Newark style fraud involving forged bills of lading for butter eggs and poultry aimed at New York and Chicago buyers was traced to a non existent Mountain View Produce Co of Mountain View Missouri. Drafts totaling about 3000 to 3500 dollars were stopped after banks notified by Willow Springs and Mansfield, Missouri, while letters and uncalled mail and telegrams indicated no such company ever shipped produce. Authorities note similar attempts failing as payments were halted and receivers reported no shipments.
Kansas City June 20 Produce in General was steady this week with Mineral receipts and strong demand. Warm weather boosted egg arrivals yet prices remained firm with firsts around 37% to 18c. seconds at 14c. Poultry began with hens at 13%c and old cox at 10%c. market firm despite liberal broiler receipts. Butter bag packing stayed firm at 2i. Elgin-driven upper grades lifted creamery extras to 27e, firs at 2ic, seconds gi.
Warm Ohio Valley weather stirs water melon sales with heavier movement to northern markets via river gateways. Early week prices in Cincinnati quoted 20 to 23 cents per pound for 20 average Watsons, 25 to 30 cents for 28 average, and 30 to 35 cents for large 28s. carload pricing around 250 dollars per car.
Rumor says internal revenue will enforce further tax declines on manufacturers who shorted tax promises. Grand jury earlier tracked a $900,000 government claim. Georgia peaches reach New York with limited shipment, selling at about $3 a crate.
New York June 20 receipts of fresh killed dressed poultry are lighter than last week while market remains fairly steady with unchanged quotations. Best dry box packed fowls up to 19c. Broilers 30 to 36c. Dry box packed 17 to 19c. Barrel ice packed 17 to 18c. Old cocks 13c. Spring ducks 16c. Squabs 2.25 to 4 per dozen. Ducks 18 to 19c. Frozen turkeys 23 to 26c. Milk fed broilers 24 to 28c. Corn fed 21 to 26c. Milk fed Toasters 20 to 22c. Corn fed 18 to 80.
The old potato market in Chicago faces demoralized conditions with unstable prices. Good stock sells around 15 cents per bushel while extra fine stock fetches limited returns. Receipts are light though large cargoes remain on track, and demand is weak as warm weather worsens keeping quality.
Cincinnati June 20 reports stronger demand for Florida and Georgia cantaloupes amid steadier weather. Grades varied with some poor quality fruit pulled. Best 45s sold around 2.50 to 2.75 dollars. California cantaloupes steady in jobbing trade at 4.60 to 5 for 48s and 3 to 3.50 for ponies. Early arrivals Wednesday and Thursday showed standard crates at 5 to 5.50 dollars, pony crates 4 to 4.60.
Jacksonville Florida June 20 The governor did not sign or veto the immature citrus fruit bill and with ten days elapsed since adjournment the measure becomes law without signature Governor Trammell says I did not have complete information to warrant a veto and thus allowed the legislature to stand without action in either direction
Washington June 20 Senator Kern calls all Democratic senators to a caucus as the finance committee completes revisions to the Underwood tariff bill. The panel reports substantial rate reductions and additions, hoping to raise revenue by over $5 million beyond the House figure, amid critiques of a monopoly influence and tax exemptions on brandies used in fortifying wines.
June 20 Chicago report notes cabbage ruling firm with slightly higher prices. Receipts show a drop from last week and active demand for gasping shipments. value listed at 2.50 per crate.
In Chicago on June 20 watermelons surged as demand rose during a warm spell. Florida shipments dominated the supply with high prices, but buyers and dealers anticipated a rebound as the market later softened. Receipts grew but price ranges varied from 475 to 550 dollars per car with Florida ships scarce.
The Chicago lemon market rose this week amid hot weather with California fruit scarce and Verdellis commanding profits. California lemons weakened from prepacking, prices for Valencia and Mediterranean Sweets ranged around five to six dollars, and grapefruit was nearly gone.
Cincinnati June 20 There was little heavy movement of potatoes through Ohio river gateways to northern markets this week. Many rejections occurred and the market was unsettled. Good dry red and white stock from Texas Louisiana Alabama and Mississippi sold in a jobbing way around 7 to 85 cents per bushel while wet and off grades brought 50 to 60 cents. Eastern red stock from North Carolina was jobbing at 2 75 per barrel and white from North Carolina and Virginia at 2 50 to 2 65 per barrel.
Chattanooga Tenn June 20 There will be a meeting of the creditors of Crain Co here on June 24 for further examination into the bankruptcy proceedings begun against Charles F Crain the manager of the firm Creditors have been offered 27 percent of their claims.
Butter remained quoted on the same high basis in Chicago this week despite ample receipts and slow trade. Receipts for Monday to Wednesday totaled 54,180 tubs, up from last week and a year ago, while demand stayed steady for the season. Creamery extras ranged 27% to 27%c, firsts 26% to 25c, seconds 24% to 25c, with packing stock 11% and Indies 23c. totals included 989,725 receipts with extras sold at 27% and a steady market.
Chicago market notes irregular live poultry receipts this week with light overall supply, hens limited and springs more plentiful. Prices steady for most, fowls 16c, springs 24c, turkeys 18c, ducks 12c, geese 6c. Dressed fowls 15 to 16 1 2 c, Friday prices softer for live fowls.
New York butter receipts for the week ending last Saturday totaled 392 895 tubs, up from 379 152 a year ago, with weekly receipts at 79 988 versus 79 381. Early week offerings were heavy and the market appeared weak, but Tuesday showed demand improving aided by out of town orders. Creamery extras traded around 28 to 28 1 2 cents, with firsts near 27 1 2 to 28 cents and the best offerings at 21 2 to 22 cents, while backing and other lots moved at mixed prices. The market held steady into Friday with sales of 50 creamery extras at 28 1 2 cents.
Muskogee Oklahoma June 20 After close investigation it is understood that Fort Smith will practically finish digging potatoes about June 26 and Ft. Gibson about the same time. Webber's Falls is about half through and the acreage between North Muskogee Rex and Muskogee about one third day. Some of the best stock that has ever been grown in this country is being shipped. Buyers are taking hold readily as fast as cars are completed and due to heavy outside buying loaders are continually behind with their orders. The tendency of the market is strong. Some sales reported at 60 cents cash and 70 cents on orders. There are about 75 to 90 acres of Irish cobblers which will be dug between June 25 and July 1 and from all indications they will yield heavy and grade strictly choice.
Cincinnati market reports cabbage receipts declined this week and prices firmed. Tennessee gong crates sold 1.50 to 1.75 dollars and Louisville crate prices around 2.50. Mississippi cabbage offerings were light with top crates at 2.50 dollars.
Tomatoes arrive in Ohio valley markets from Florida Mississippi Louisiana and Alabama with fancy grades at 1 75 to 2 and choice 1 40. Mississippi and Texas stock coming in with best graded goods selling at 75c and up, off stock down to 50c, Texas flats up to 90c.
The referee found DeWinter & Co in contempt for not producing petty cash books under grand jury subpoenas in the egg damage probe. Judge Hand reserved judgment, hearing more testimony from DeWinter, Dowle, and Wetten, with doubts about Wetten and delays in the book production. The case centers on who controlled the butter and egg departments and whether records exist or were hidden.
Chicago on June 20 reports heavy arrivals of new potatoes causing a market decline of 10 to 15 cents despite active trading. Buyers showed broader demand with the old potato run ending and new spuds drawing more attention. Texas Cobblers greenness and decay noted. Triumphs 50 to 70 cents per bushel. Texas Cobblers 50 to 60 cents. Virginia white spuds $2.50 to $2.75 per barrel.
C. K. White of Michigan Agricultural College says Oakland county faces its greatest fruit year if no damage occurs. Apples, peaches, and plums are heavily loaded and promise a strong season.
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