Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1917-09-07
PRESIDENT FIXES
PRICE FOR WHEAT
At 1920 PER BU.
WILSON ACTS FOLLOWING CON.
FERENCE WITH FOOD
BOARD.
FIGURES FOR 1917 CROP
Executive in Statement Hopes Step
Will Stabilize and Keep Within
Moderate Bounds Prices of
Grain and, in Consequence,
Price of Flour and
Bread Also.

Washington, Aug. 31.-The price o2
the 1917 wheat crop will be 1920 per
bushel.
This was announced by President
Wilson last night, following the sub
mission to him Of report unanimous
ly adopted, after several days of dead
lock by the Garfield price fixing COM
mittee of the food administration.
The president declared that the price
speoiaec. applying to what is known as
No l northern wheat ut the Chicago
terminal, would be rgidly enforced by
tie government.
Members of, the price-fXing commit
tee ended their deadlock at five o'clock
and at once went in body to the
White House. where they confrred
with the p.Nesident.
A reduction Ia the price Of flour will
be announced within a day or two. A
committee of millers cooperating with
the food administration has agreed
tentatively that the millers will limit
their profit to 25 cents barrel. Flour
has sold at about SIS q barrel when
-
fixing Of the price Of wheat at $2.20
is expected to cut the price of flour
possibly tn sI2.
The mille-s' committee IS meeting in
New York and will agree upon a stable
price without delay.
The system of licensing elevators ar
ranged by the food administration be-
comes effective on Saturday, The
$50O00,000 grain corporation, organ
ized by the food administration, will
at once begin to purchase and sell as
much grain as necessary to prevent
any fiuctuation in The price.
President Wilson's Statement.
President Wilson's statement was as
follows:
"The White House, Washington, Au-
gust 81, 1917.
Section II of the food act provides,
among other things, for the purchase
and sale Of wheat and -four by the gov
ernment and appropriates money for
the purpose. The purchase Of wheat
and flour for our allies, and to q con-
siderable degree for neutral countries
also, has been placed under the control
of the food administration. 1 have
appointed a committee to determine a
fair price TO be paid in government
purchases. The price now recon-
mended by that committee-S2.2O per
bushel at Chicago, basic graded-will
| be rigidIy adhered to by the food ad-
| ministra ton.
ut is the hope and expectation OF
the food administration and my own
also that this step will at once stabil-
ize and keep within moderate bounds
the price of wheat for all transactions
throughout the present crop year, and
in consequence, the price of flour and
bread also. The food act has given
large powers for the control of storage
and exchange operations, and these
powers will be fully exercised.
"An inevitable consequence will be
that financial dealings cannot fol-
low their usual course. Whatever the
advantages and disadvantages of the
ordinary machinery of trade, 1t cannot
function well under such disturbed
|
In It's place the food administration
now fixes for its purchases a fair price
as recommended unanimously by 9
committee representative of all inter
ests and all sections, and believes that
thereby 1t will eliminate speculation
make possible the conduct of every op
GRAFTON In the full light Of day, main
tain the publicly stated price for all
and through economies made possible
by stabilization in the control bettel
the position of consumers also.
"Mr. Hoover, at his express wish
has taken no part in the deliberation
of the committee on whose recon
mendation 1 determine the govern
ment's fair price, nor has he in an,
way lntimated an opinion regarding
that price.
WOODROW WILSON"
Report of Committee.
The report of the price-fxing CON
mittee follows:
"To the President of the Unite
States:
"The undersigned committee ha
been asked by you to recommend tn
price which the government should pa
for the 1917 crop of wheat.
"In its deliberations the committe
has kept constantly in mind the thre
following factors:
81. The fact that the United State
Is at war.
so. The need of encouraging tt
producer.
: "3. The necessity of reducing tt
cost of living to the consumer.
"The normal laws of supply and d
mand have been violently interfere
with end congress has undertaken
OK, t this disturbance by cOnferriI
l extraordinary powers upon the pres
2 dent to stabilize prices. Each of Il
: foregoing factors grows out of conc
e tions which have received the caref
$ attention of the committee"