articles for which wholesale prices were obtainable and those for which retail prices could be secured. It was found impracticable, also, in most instances to obtain both kinds of quotations for the same date. The retail prices shown are uniformly those prevailing on the 15th of the month, while the wholesale prices are for a variable date, usually several days in advance of the 15th. For these reasons exact comparison of retail with wholesale prices can not be made. The figures are believed to be of interest, however, in showing price variations in the retail as compared with the wholesale markets. In the table which follows, the wholesale price represents, in each case, the mean of the high and the low quotations on the date selected, while the retail price is the simple average of all prices reported for the article and city in question. For convenience of comparison with retail prices, beans and corn meal are here quoted by the pound, wholesale, instead of the customary 100 pounds. Similarly, to facilitate comparison with the wholesale price, flour at retail is priced by the barrel instead of the one-eighth barrel. In this table the wholesale price of fancy patent flour at St. Louis is shown instead of the first patent flour included in the table published in the November issue of the MONTHLY REVIEW, as this is believed to offer a better comparison with the brand quoted at retail. The initials W. and R. are used to designate wholesale and retail prices, respectively. WHOLESALE AND RETAIL PRICES OF IMPORTANT FOOD ARTICLES IN SELECTED Fresh, carcass, Chicago...W.. Lb. .130 .144 .185 .185 .190 .138 138 .138 .160 .163 .168 .190 Round steak, Chicago....R.. Lb. .216 .238 .254 .235 .227 .256 .266 .273 .281 .273 Fresh, sides, New York..W.. Lb. .130 .135 .128 .130 .133 .R.. Lb. cago. Butter, creamery, extra, .173 .163 .216 222 226 .231 .238 270 279 W.. Lb. 290 .295 275 .345 .370 .440 .375 Chi .170 .185 .183 286 .298 .298 .394 .425 .435 cago. Butter, creamery, extra, New York. W.. Lb. .308 .310 .375 .372 R.. Lb. .354 .340 .324 .394 .438 .484 .432 448 .484 .487 .291 .350 .395 .450 .395 .408 .444 .443 .339 408 1 Wholesale prices of fancy patent flour at St. Louis for the months shown in the November issue of the MONTHLY REVIEW and not in the present issue are as follows: September, 1913, $4.300; September, 1914, $5.324; September, 1915, $5.200; September, 1916, $7.300. WHOLESALE AND RETAIL PRICES OF IMPORTANT FOOD ARTICLES IN SELECTED CITIES, ETC.-Concluded. October. 1917 Article and city. Unit. 1913 1914 1915 1916 Jan. Apr. July. Aug. Sept. Oct. .161 .145 Eggs, strictly fresh, San Fran- Eggs, fresh, extra, pullets', San .R.. Doz. Butter, creamery, extra, San Cheese, whole milk, American .R. Lb. $0.400 $0.379 $0.342 30. 404 $0. 425 $0.452 30.455 $0.504 $0.550 $0.545 Cheese, full cream, American, Chi- Cheese, full cream, American, Cheese, fancy, California flats, Cheese, full cream, American, San Eggs, fresh, firsts, Chicago....W.. 230 .277 .321 .327 339 .342 .344 .368 .215 226 238 242 297 .153 .128 .140 186 .218 223 216 .215 .240 246 .220 .245 .238 .234 .255 301 .335 .328 .165 .165 180 .200 235 .253 .308 .485 .305 W.. Doz. R.. Doz. .479 .424 .477 .544 .480 558 5.600 7.000 6.400 10.000 10. 800 13. 200 13. 424 14.336 12. 208 11.984 .193 .188 .243 .243 233 .263 .283 Chi R.. Lb. New W.. Lb. Lb. .213 .263 .274 .275 .294 .313 W.. Lb. .016 .019 .017 021 .027 031 040 052 .050 Meal, corn, New York. ..R.. Lb. .035 .036 .035 .044 Milk, fresh, Chicago. w.. Qt. .040 .043 .039 .045 .045 .054 .047 .051 .051 .109 .114 125 .124 .038 .043 .043 .058 .059 .100 .100 .100 .100 .100 .121 .121 .R.. Qt. .080 .080 .080 .090 .100 Potatoes, white, good to choice, Poultry, dressed fowls, Poultry, hens, dressed, York. New W.. Lb. New R.. Lb. .218 W.. Lb. .051 Rice, head, Honduras, New Or leans.. .615 1.200 1.750 2.700 2.625 1.600 1.250 1.135 .796 1.640 2.370 3.455 2.975 2.012 1.623 1.184 .220 .230 .220 .265 .048.043 .248 .240 .258 .285 .261 293 287 220 .259 .288 .316 .323 .071 .072 .070 .077 101 .103 .101 .100 .082 .082 Lb. .042 .059 .018 .070 .066 .081 074 .082 A comparison of wholesale and retail price fluctuations, expressed as percentages of the price in October, 1913, is contained in the table that follows. It will be seen from this table that the wholesale prices of practically all articles in October, 1917, had increased to a larger extent than had retail prices. This is particularly noticeable in the case of bacon, flour, ham, lamb, lard, meal, milk, and potatoes. Of the 22 articles included in this table, only 1, granulated sugar, showed a larger per cent of increase in the retail than in the wholesale price. In nearly all instances retail prices were relatively lower in the other months shown in the table than were wholesale prices. RELATIVE PRICES, WHOLESALE AND RETAIL, OF IMPORTANT FOOD ARTICLES IN WHOLESALE PRICES IN THE UNITED STATES, JANUARY TO SEPTEMBER, 1917. Information collected by the Bureau of Labor Statistics shows that steep increases took place in the wholesale prices of many important commodities in the United States during the first eight months of the present year. The rise was most pronounced in the period from March to May, particularly among farm products and articles used for food. From June to August some commodities advanced in price while others declined. Considered in the aggregate, September prices were below those of August. Among the articles showing a decrease in September as compared with the preceding month were cotton, oats, wheat, flour, corn meal, rice, potatoes, bituminous coal, copper, pig iron, and steel. In the case of wheat, bituminous coal, and steel, the prices of which have been placed under Government regulation, decided decreases took place. Increases between August and September were recorded for corn, hay, cattle, hogs, sheep, tobacco, butter, eggs, meats, wool, anthracite coal, and petroleum. The bureau's weighted index number for September, based on 292 separate articles or price series, stood at 149, as compared with 151 in July and 122 in January. In the following table are shown the index numbers of wholesale prices for the first nine months of 1917 by groups of commodities. The table also shows the number of articles or price series in each group, together with the per cent of increase in September as compared with January. INDEX NUMBERS OF WHOLESALE PRICES, JANUARY TO SEPTEMBER, 1917. FOOD AND FUEL CONTROL. RULES AND REGULATIONS OF THE FOOD ADMINISTRATOR GOVERNING LICENSING OF DEALERS IN CERTAIN STAPLE FOOD COMMODITIES. The licensing of all dealers doing an annual business of more than $100,000 in certain staple food commodities enumerated in the President's proclamation of October 81 became effective on November 1, after which time no unlicensed person is permitted to trade in the commodities mentioned. In order to make the licensing system effective, as contemplated by the food-control law under which it is authorized, the Food Administration has prescribed complete and definite rules and regulations, the announced object being: (1) To limit the prices charged by every licensee to a reasonable amount over expenses, and to forbid the acquisition of speculative profits from a rising market; (2) to keep all food commodities moving in as direct a line and with as little delay as practicable to the consumer; and (3) to limit, as far as practicable, contracts for future delivery and dealings in future contracts. Under the Food Control Act, in addition to the power to promulgate rules, the President is given broad powers to deal with individual cases, and this will be exercised, if necessary, to accomplish the purposes above set out. Violation of the rules and regulations is cause for revocation of license, as well as subjecting the offender to such criminal penalties as may be prescribed. It is not necessary to note here the large number of general rules governing all licensees, together with additional special regulations for various trades in which there are special conditions or specific abuses to be governed. Attention, however, may be called to a few of the more important rules and regulations. The elimination of excessive prices charged by small retailers, who are not subject to license, will be helped by a rule forbidding licensees to sell foods to any person who is violating section 4 of the Food Control Act by taking excessive profits or speculating. An important rule provides that no licensee shall "import, manufacture, store, distribute, sell, or otherwise handle any food com 1 An account of this licensing system and the list of commodities affected was given in the MONTHLY REVIEW for November, 1917, pp. 85 and 86. |