HOLDING WHEAT

Grey River Argus, 18 April 1929, Page 6

HOLDING WHEAT

U.S. PRICES DECLINE President and Senator Blamed WASHINGTON April 17. The price ©f May wheat at to-day’s session of the Chicago Board of Trade is attributed in some circles h-sre to disappointment a« Mr Hoover’s treatment of th c farm question. In a message to Congress, following Sena or Capper’s revelation of a large surplus of Kansas whiter wheat, where some forty million bushels await shipment, local brokers declared that the original depression price as thc market opened was precipitated by Senator Capper’s statement declaring that the amount of wheat in storage m Kansas was double that held at this time in any preceding year. The price decline received further impetus with the publication of Mr Hoover’s message. It is reported here that the me sage did not come up at all to marke; ex Dcctations. On the other hand, Mr Hoover’s treatment on the matter wa received well in thc capital, where it is believed generally that the discour aging developments in the wheat nmvkit are due t 0 causes other than that of thc speech. Senator Capper asserted that this is his opinion, but failed to explain himself, ana Md not attempt to clear up ho drop in prices.