AMERICAN ITEMS
WHEAT PURCHASE,
(United Press Association— By Electric telegraph—Copyright).
NEW YORK, July 15. . President Hoover is represented as opposing Senator Capper’s plan for tne Grain Stabilisation Board to purchase 109,00p;ti00 bushels of wheat at once and hold it off the market. The President does not wish to disrupt the Farm Board’s policies. He has (confidence in their programme. The Board, meanwhile, is understood to wish not to purchase more wheat while its earlier purchases remain on its hands. It is feared that if the Board buys 180,C00,C00 bushels more, the storage capacity will become a serious'question. The Farm Board is now ‘‘in old” at- the present prices to the extent of fifteen miljion dollars on what it is holding. Unless the prices increase, it will have to hold the wheat for many, months, for Air Legce states that he will not dump this grain on a; falling market. However, it is widely .believed that -some such action as further purchases will become necessary soon to prevent a further drop in prices’.
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Hokitika Guardian, 16 July 1930, Page 5
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172AMERICAN ITEMS Hokitika Guardian, 16 July 1930, Page 5
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