HEAVY LOSS SHOWN.
Farm Board’s Operations will Result in Deficit. 1 U.S. 150,000,000 DOLLARS DOWN United Press Assn.—By Electric l Telegraph—Copyright. (Received August 20, 9.5 a.m.) WASHINGTON, August 19. It is estimated that the Farm Board stabilisation operations in wheat and ’ cotton will show a net loss of nearly 150,000,000 dollars, representing about 30 per cent of the 500,000,000 dollars which Congress voted the board. Exclusive of storage charges it is estimated that the cotton losses have been 66,625,000 dollars, as last autumn the ■ Cotton Stabilisation Corporation held 1,300,000 bales then selling at ten cents a pound, whereas this,is now selling at 65 cents. Wheat purchases begin in the spring. The board’s 1930 holdings are 275,000,000 bushels, and estimating the depreciation at 25 cents a bushel the losses will reach 68,750,000 dollars.
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Star (Christchurch), Volume XLIV, Issue 197, 20 August 1931, Page 1
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132HEAVY LOSS SHOWN. Star (Christchurch), Volume XLIV, Issue 197, 20 August 1931, Page 1
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