CHEAPER WHEAT
BIG U.S.A. SURPLUS
(United Press Association—By Electric
Telegraph—Copyright)
WASHINGTON, May 2
Faced by the immediate serious problem of a two hundred and fiity million bushels of wheat hold-over, with a bumper crop to be marketed about the 15th of July, the Government officials conferred to-day with the Executives of several of the Eastern Railways, which have accepted, temporarily, sharply reduced rates on the export wheat shipments. The Executives announced that they recognised “ that an emergency of national proportions exists, and necessitating every possible aid to the immediate removal oh this surplus from the country.”
The fright reductions will he approximately two cents per bushel Irom Buffalo, four cents from Chicago, and five cents from St. Louis. The reductions will expire on the 30tli of May.
It is felt here that the American grain must meet the competition of an unusually large carry-over and laige production in foreign countries, uitli a consequent lowering of the price level on principal markets of the world.
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Hokitika Guardian, 4 May 1929, Page 5
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164CHEAPER WHEAT Hokitika Guardian, 4 May 1929, Page 5
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