AMERICAN WHEAT

Wanganui Chronicle, Volume 73, Issue 430, 22 November 1930, Page 8

AMERICAN WHEAT

FARM BOAJRD BUYING. EXTEN.SI \ E (JPERATIONs. Received Nov. 21, 11.20 p.m. NEW YORK, Nov.'2o. ’The New Y'ork 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 the* Board sent representatives throughout the country 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 a hundred million bushels would be consumed during the coming wirier. 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 was a 76.G50,000-dol!;ir market value, although it cost a hundred mil lion dollars.

‘‘Why should not wheat be stabilised?” he asked. “Every other line of endeavour in this country is on an American or domestic basis. The farmer has boon benefited by the stabilisation of wheat, but it also has been a good thing for the country.” He admitted that the Board felt some nervousness in the past few days when it did the heaviest buying, but wa c assured that now “the lines have held.”

HIGHER MAIZE TARIFF. Received Nov. 21, 11.25 p.m. WASHINGTON, Nov. 20. Senator Legge has recommended one-fifth per cent, increase in the tariff on maize by the Tariff Commission under the flexibile provision in the Act.