Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-08-13

the whole American harvest, and to
resell wheat, in limited quantities, for
export, and to domestic millers Tor
home consumption.
Determining fair price for the 1917
harvest thru a committee approved by
the president consisting Of producers
and consumers, and headed by Harry
A. Garfield, president Of Williams Col
lege.
Using every authority Of law and ex-
port control to effect universally OF
price basis agreed upon thruout the
ycac without fuctuation. thus remov-
ing incentive to producers for hold
ing wheat back
Prosecuting with 'vigor all persons.
whether engaged in the trade or not.
who hold up wheat and -four contracts
Mills Must Be Licensed.
Details Of the wheat control plan
were explained by Mr.. Hoover in the
following statement:
.sIn order to eliminate speculation IN
wheat and flour, all elevators and mlas
over 100 barrels daily capacity Will DC
REQUIRED to take out a government II
cense and the conditions OF this license
to be that only reasonable and custo-
mary charges shall be made for ware
house service; that no wheat shall Dc
stored for more than thirty days WITH
ont the approval OF the food admin
istrator; that certain information as to
receipts and shipments shall De sup
plied regularly. The grain exchanges
are being asked to suspend all aea,'
ings and quotations In future wheat.
These regulations win come into rorce
Sept. 1 and the licenses will be pre-
pared this week.
.cwhile farmers' cooperative eie-
yators are excepted by the food DIM,
this. however, applies only to mutual
concerns and not to stock companies
ana IN any event under the advantages
of ioining the plan none is Likely TO
stand out. $3.50,
Can Take Whole Harvest.
.rn substitution for the broken down
marketing machinery the FOOD ADMIN
Istration proposes to open agencies lo1
the purchase Of all wheat at the prin-
cipal terminals carrying on its trans
actions with the usual dealers and is
nrenared TO take the whole harvest. II
necessary In order to maintain 'a'.
price, and will resell wheat Tor export
In such quantities as we can AFFORD 10
part with in protection Of our own peo-
ple. on one hand, and to sell, on the
other. to the millers for domestic con-
sumption.
"The administration will make no
charge except-a nominal percentage 10
cover costs Of the operation, and ar
ranpements will be made which, VIII
insure the government against loss ana
a properly constituted and Independent
auditing committee will check all trans
actions at every point.
Committee to Fix Price.
sorhe food Administration, under these
ARRANGEMENTS, would have large infiu-
ence In affecting the price OF wheat.
With a view to determining fair price
the president has approved the appoint
ment OF committee to be selected from
representatives Of the producing sec
tions and consuming elements IN the
community.
"This committee will be assembled I'M
der the craftsmanship of President Gar
field of Williams College. and 1t will be
the duty Of this committee to determine
fair price for the 1917 harvest Upon
the determination OF this fair price 1t IS
the intention of the food administration
to use every authority given 1t under
the bill to effect the universally Of this
fair basis tkruout the whole Of the 1917
harvest year without change or fluc-
tuation.
'"It should thus be clear that It will
not be to the advantage Of any producer
to hold back his grain in anticipation
of further advances, for he will do SO
only at his own cost of storage and in
terest, and II 1t is necessary for the
government to buy the entire wheat
harvest in order to maintain this fair
price in protection Of the producer we
intend to do so.
Ban on Hearding.
| Furthermore, the holding Of wheat
or flour contracts by persons not en-
gagged in the trade, and even when IN
trade, in larger quantities than is nee
essary for the ordinary course OF their
business, Is unlawful under the act, and
such cases. will be prosecuted with Wig
or And we would advise such holders
to iiquidate their contracts at once.
| by the above arrangement we be-
l lieve that Wenshai staplilze the price o.
wheat thruout the year; that the haz-
ards of, operation due to fluctuatine
prices which are imposed upon oul
milling and distributing communities
1 will be eliminated and therefore theil
business can return to the normal lines
and normal margins of profit, and thai
we shall not only have stabilized the
Il price Of wheat, but stabilized the price
i Of bread.
1.-THE food administration has had the
Ipatriotic cooperation of the LEADING
millers Of the country, and these mil.
lers have organized at the request o.
the food administration committed
to represent the entire trade.
Stable Price Assured.
|. saDAtailed proposals for an agreed dit
lferentiaI Of profit and expenses pei