AMERICAN WHEAT

Dominion, Volume 24, Issue 50, 22 November 1930, Page 11

AMERICAN WHEAT

Purchases by Farm Board TO MAINTAIN PRICES Reduction of Acreage Urged By Telegraph—Press Association —Copyright. (Rec. November 21, 7 p.m.) New York, November 20. The “New York Times” Washington correspondent states that it is reliably reported that the Farm Board has purchased 110,000,000 bushels of wheat, or a tenth of the total of the domestic supply, in an effort to maintain prices. These' figures are larger than hitherto believed. It is understood that the board had sent representatives throughout tlie countrv for the past several months urging a reduction of the wheat acreage and the use of coarse ground wheat for animal fodder, hoping that thus 100,000,000 bushels would be consumed during the coming winter. Mr. George Milnor, head of the Grain Stabilisation Corporation of the Farm Board, in an address stated that the grain at present controlled by the board has a 76,050,000 dollar market value, al though it cost 100,000,000 dollars. “Why should not wheat be stabilised? Every other line of endeavour in this country is on an American or domestic basis. The farmer has been benefited by the stabilisation of wheat, but it also has been a good thing for the country.” He admitted that the board had felt some nervousness during the past few days, when it did the heaviest buyipg, but was assured now that the “lines have held.” TARIFF ON MAIZE Increase Urged • (Rec. November 21, 7 p.m.) Washington, November 20. Air. Alexander Legge, chairman of the Farm Board, has recommended a 50 per cent, increase in the tariff on maize by the Tariff Commission, under a flexible provision in the Act.