GRAIN DEALERS

Hokitika Guardian, 26 March 1931, Page 5

GRAIN DEALERS

THIS YEAR'S PLANTINGS. (United Press Association.—By Electric Telegraph.—Copyright.! (Received 11.2(1 a.m.) NEW YORK, March 25. Addressing a.-joint meeting of farmers of the Co-operative Grain Dealers Association of Kansas and Farmers Co. operative Commission Company to-day. Chairman S'oim said the amount of wheat planted ibis year will shape to a large extent, the Farm Board’s policy for disposing of its two hundred million bushels of stabilisation purchases. Should the plantings he smaller than usual, tlie Board is expected to make some sales, hut if the opposite proves true it may agree to hold up wheat for an indefinite period. Defending the i exempt ion of the sCib^isafion operations in the hist fall. Mr Stone said that when wheat dropped about the loth November, close bo seventy cents in Chicago, we found definitely if market dropped another cent or two there would be at least forty to fifty million bushels held by various parties, upon which moneys were borrowed from the banks, which would have been dumped on an unwilling market. If this had been done it was tlie opinion of some of the best informed grain men, that the price of wheat would have gone considerably below fifty cents a bushel in Chicago, which would have meant financial disaster not only to the farm-* er, but. also would have meant the closing of hundreds of hanks in the middle west,