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(Ii I4r Tal . . Ug Ltin (ii i4r tal . ugltin PUBLISHED DAzLY ander order of THE PRESIDENT of THE UNITED STATES by COMMITTEE on PUBLIC INFORMATION GEORGE CREEL. Chairman * * * COMPLETE Record of U. S. GOVERNMENT Activities VOL. 2 WASHINGTON, MONDAY, OCTOBER 7, 1918. No. 431 U.S. LOANS TO THE RAILROADS TEXT OF LETTER CONTAINING VIEWS TO MEET MATURING MORTGAGES OFFERED BY DIRECTOR OF PACKERS ON PRODUCERS' PLAN GENERAL FOR THE STABILIZING OF HOG PRICES RATE IS FIXED AT SIX PER CENT SETS BASIS FOR OCTOBER Intended to Give Assurance That BRITISH NAVAL MISSION HERE Money Required for Legitimate Further Conference of Com- Needs May Be Had and to Stab- HEADED BY SIR ERIC GEDDES mittees to be Held at End ilize Interest Charges. First Lord of the Admiralty and of Month to Consider No- Party on Official Visit Director General of Railroads McAdoo vember Policies - Signed makes the following announcement: to Washington. Believing that it will be for the general by Representatives of the welfare and a factor in beneficially stab- Sir Eric Geddes, First Lord of the Ad- Five Large Packing Indus- ilizing money rates, the Director Gen- miralty, and a special naval mission from eral announces that as to all railroad Great Britain to the United States ar- tries and 40 other Firms. mortgage bond issues which may mature rived in Washington this morning. The between the present time and July 1, following compose the Admiralty party: The following is the full text of the 1919, where railroad companies may find Rt. Hon. Sir Eric C. Geddes, G. B. E. K. it impracticable to obtain money for the C. B., First Lord of the Admiralty. packers' views as to carrying out the renewal of their maturing bonds at a Vice Admiral Sir A. L. Duff, K. C. B., producers' plan of stabilizing the price of rate of interest which the Director Gen- Assistant Chief of Naval Staff. hogs. The letter is signed by some forty eral may feel warranted in approving, Rear Admiral A. F. Everett, C. B., Na- secondary packing firms, in addition to he will lend to all such railroad com- val Secretary to First Lord. panies on safe and reasonable security at Capt. C. T. M. Fuller, C. M. G., D. S. C., the five large packers. The, result effec- the rate of 6 per cent per annum such Director of Plans. tively carries out the plan for October, funds as may be necessary to pay off Capt. L. G. Preston, C. B., Director of and further meetings of producers' and their maturing issues of mortgage, equip- Minesweeping. packers' committees will be called at the ment, or debenture bonds. Paymaster-in-chief H. W. E. Manisty, latter end of the month to consider No- C. M. G., Organizing Managers of Con- vember policies. Purpose of the Offer. voys. Letter to Meat Division. The aid thus rendered by the Director Lieut. Col. McLellan, R. M., Civil As- General to maintain on a moderate basis sistant to First Sea Lord. U. S. FooD ADMINISTRATION, MEAT DIVI- the rates of interest which railroads may Lieut. Col. Beharrell. slon, Washington, D. C. be required to pay on loans must not be Commander H. R. Sawbridge, Antisub- GENTLEMEN: Complying with your in- interpreted by them as relieving them of marine Division. structions and bearing in mind the ut- the duty and responsibility of using their Commander Steel. most importance of encouraging the long best efforts to provide for their own R. F. Durnell, Esq., Additional Assist- view in production of hogs and the neces- financial needs as occasions arise, but is ant Secretary of the Navy. sity of providing supplies for our Army, intended to give them assurance that the Met by Bureau Chiefs. qur Navy, the allies, and our civil popu- money required for their legitimate lation, we have given very serious con- needs, and for which they can offer satis- Admiral William S. Benson, Chief of sideration - to the producers' plan of factory security, can be obtained without Naval Operations, met Sir Eric when he stabilizing the price of live hogs per their being required to pay exorbitant landed at New York, and all the chiefs of hundredweight at Chicago on a basis of or unreasonable rates or commissions. bureaus of the Navy Department assem- about 13 times the price of 1 bushel of While the cooperation which the Gov- bled at Union Station to greet the party corn (the average price per bushel of ernment has received and is receiving on their arrival at Washington at 9.35 corn to be fixed on a basis of the previous from the bankers, capitalists, and in- o'clock this morning. five months' average farm values or the vestors of the country generally, in the At 10.80 o'clock Secretary Daniels price at shipping points in certain huge task of financing the war and of made an official call on Sir Eric Geddes States). It is the opinion of all the providing the vast credits imperatively at the residence of Perry Belmont, 1718 packers in attendance at this meeting demanded for our requirements and for New Hampshire Avenue, which was ten- that this plan may not prove workable. our allies, has been admirable, at the dered by Mr. Belmont to the First Lord This basis fixes what might prove an un- same time there has been a tendency on of the Admiralty for his occupancy dur- duly high price on hogs at the starting the part of some bankers and money ing his stay in Washington. of the packing season and provides for lenders to demand exorbitant rates on Sir Eric and the members of the Brit- a gradual reduction in prices and on a railroad loans which are fully protected ish Naval Mission later to-day will call normal descending corn market would and for which there is no justification. at the State Department where they will .result in the lowest prices probably being be received by Secretary Lansing and at Stabilization of Interest Rates. arrived at in the spring of the year, the Navy Department and from there whereas the ordinary course of the Through the War Finance Corpora- proceed to the White House, where they market is the reverse. This plan may re- tion, farm loan banks, and in other will be introduced to the President, who sult in the warehouses being filled up with ways the powers of the Government will give a luncheon in honor of Sir Eric have been high-priced products even though the al- exercised for the stabilization and the British visitors. lied orders are very considerably in- of interest rates and the prevention of Rear Admiral A. H. Robertson, U. S. excessive creased, as the allied requirements only charges for the use of money. N., has been detailed as special aide to take certain cuts produced from certain (Continued on page 3.) (Continued on page 6.) weight choice hogs, and the allied orders 2 THE OFFICIAL U. S. BULLETIN: MONDAY, OCTOBER 7, 1918. do not prosilde an outlet for the cuts of all kinds of hogs. 75-CENT TABLE D'HOTE MEALS U.S. U-BOAT CHASERS PRAISED We feel that the establishing of the 13-to-1 basis may result in higher prices FOR ARMY MEN ON DINING CARS FOR THEIR WORK AT DURAZZO Even though It pro- to the consumer. The Navy Department authorizes the tects the production, and in the long run Director General of Railroads McAdoo authorizes the following: following: the consumer, it carries a possibility, at in a cablegram to least, if not a probability of decreased The United States Railroad Adminis- Vice Admiral Sims, consumption. It is our wish ii tration and the War and Navy Depart- the Navy Department, transmits a dis- domestic from the corn- possible way to cooperate with the ments have recently agreed upon an ar- patch he has received every of British naval forces in the Food Administration, and in presenting rangement for furnishing meals in din- nuinder suggestions we wish to ing cars and eating stations to offlicers Adriatic expressing his appreciation of the following rendered by Ameri- again emphasize that we have made and enlisted men which is proving very the valuable services in mind the statements popular with men in the service. The can submarine chasers in the operation same, bearing naval base at Du- made this morning to us by the Food Wllar and Navy Departments have raised against the Austrian Administration and the importance of the meal allowance to 75 cents. In some razzo, Albania, on October 2. working out some plan whereby the instances the former allowance was 50 Sank a Submarine. receive reasonable as- cents and in others 60 cents. swine raiser can the submarine undue losses and undue Orders have been issued that a sub- The report states that surance against chasers, which were under connaud of flctuatious of the markets. stantial and appetizing table d'hote meal be furnished for this sum. The weight Capt. Charles P. Nelson and Lieut. Com- List of Suggestions. of each article on the menu will equal mander Paul H. Bastedo, sank one sul> torpedoed an( d.am- our best efforts to main- or exceed the Army and Navy rations. marine, which had 1. We will use aged *a British vessel, and damaged and, tain a minimuim price of 154 cents for The arrangement will apply to oflicers not to and men traveling at their own expense it is believed, destroyed another Austrian averages droves (average droves U-boat. During the boindarduent uiler include rough packers, pigs 18) pounds as well as to those who are t'raveling on stas, boirs, and thin Government orders, and includes in- enemy fire they also screened larger shlps, and down, s-ows) and on the return voyage aide-1 il screen- during the heavy packing season, and in ducted men on their way to enter the ing the diained Brtish vessel and escort- order to stnbilize the market will en- service.
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