SLUMP IN WHEAT
HEAVY FARAI BOARD'S INTERVENTION. i \'PR FCEDENTED PLACET I All. action. Uai »d rre« Tel: Copyright NF.W YORK, I'el). ft is estimated that during thu last six months the potential wealth ft be farmer has been reduced up. ri-oxlmately 395,000,000 dolars a, t result of the slump ul wheat. The proposed entry of the Farm Bd. in the weakened national ar.d intennationa! markets is. sa.d to be au unprecedented peace-time action by the Federal Governrnent toward the attempted control of raw foodstuffs for the benefit of [.reducers. Any losses that might occur m the pro- «,'■ would be repaid from a revolving' fund of 000,000.000 dollars appropriated in congress last June, and equalised from the profits oi to, Board during more favoi abU* . ea.sum. Tlie chairman, Mr. L.gge, described the process a.s what rn.gjit Utermed an extraordinary or emergenev operation, whereby because oi a surjrius of any commodity there would lie brought and taken off the market considerable par. ot tonnage in order to relieve me pressure and carrying the product until some future date, in the bopthat there would be » more* favor able opportunity of disposing oi it
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Bibliographic details
Gisborne Times, Volume LXX, Issue 11127, 10 February 1930, Page 4
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191SLUMP IN WHEAT Gisborne Times, Volume LXX, Issue 11127, 10 February 1930, Page 4
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