AMERICAN WHEAT
THE PROBLEM OF EXPORT. ; REDUCED RAILWAY RATES. (United Press Association.) (By Electric Telegraph—Copyright.) ■ WASHINGTON, May 2. (Received May 3, .at 10 ,p.m.) Faced by .the immediate, serious problem of 260,000,000 Bushels of wheat hold over, with a bumper crop to be marketed about July 15, Government officials conferred to-day with the executives of several eastern railways, which accepted temporarily sharply reduced rates on export wheat shipments. The executives announced that they recognised- that ‘/an emergency of national proportion exists, necessitating every’ possible aid to the immediate removal of this surplus from the country.” The reductions will be approximately two cents per bushel from Buffalo, four cents from Chicago, and five cents from St. Louis. The reductions will expire o» May 30 It is felt here that American grain must meet competition of an unusually large carry-over and production in foreign countries, with a consequent lowering of the price level on the principal markets of the w'orld.—Australian Press Association.
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Bibliographic details
Otago Daily Times, Issue 20708, 4 May 1929, Page 13
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160AMERICAN WHEAT Otago Daily Times, Issue 20708, 4 May 1929, Page 13
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