The Bridgeport evening farmer., 1917-08-31

Washington, Aug. 31.-The oasis price of the 1917 wheat crop was hxed at $2.20 a bushel last night by Presl- dent Wilson, upon the recommenda- tion of the commission headed py h. H. A. Garfield. The price is based on Chicago delivery. This is the figure. at which the Food Administration will buy supplies of what is known as No. 1 Northern spring wheat for the United States and it's allies.
 It is expected that the wheat pro ducers will fall into line without fur ther dispute and make the price unl- versal. The Food Administration. however, has power to enforce the basic price if there are any recalct- trants. This probably will be done through a system of licenses which may extend all the way to the retail CTS, should occasion arise for such a. drastic procedure. Millers and whole salers will be brought under this li- censing system at once, it is stated, and the powers also will be exercised to prevent hoarding or cornerfng the market.
 A schedule of prices of all grades and kinds of wheat, reduced to the $2.20 basis for No. Northern spring wheat, was submitted to the Presi- dent by the Food Administration and was made public last night. It pro vides that for an additional 10 cents a bushel for wheat to the wholesaler in New York city as opposed to the $22O price In Chicago. This would bring the price of basic wheat in New York city to $2.30.
 A reduction of cents bushe1 is
 provided for in this schedule for No. 2 grade, out of which a large part of
 the flour is nilled. A flour expert last
 night estimated that, deducting about
 s1.eo for bi-products obtained, flour should be produced in the nefghhor-
 hood of $9 a barrel under the prices
 fixed, and that unless wholesalers and
 retailers were permitted to run wi1d'
 there should be considerable reduc-
 tion to the public from the present
 range.
 In his statement accompanying the
 price-fixing report, President Wilson sounded warning that the Food Ad- ministration would adhere rigidly to the price determined upon by the Garfield Committee, and intimated that the powers of the Food Control bill would be exerted to the full if any evidence was obtained that pro-
 ducer, miller, wholesaler, or con- sumner was attempting to take ad- vantage of the consuming public.
 The text of the Presidents state ment follows:
 The White House,
 Washington, Aug. 30, 1917 Section II of the food act provides among other things, for the purchase l and sale of wheat and flour by the government, and Sappropriates money for the purpose The purchase o1 wheat and flour for our Allies, ana to considerable degree for neutra l countries also, has been placed un | der the control of the Food Admin l istration. I have appointed commit
 tee to, determine a fair price to be pait l in government purchases. The pric, now recommended by that committee l-$2.20 per bushel at Chicago for tn,
 basic grade-will be readily adhered l to by the Food Administration. | It is the hope and expectation o | the Food Administration and my ow1 1 also, that this step will at once stabil l ize and keep within moderate bound 1 the price of wheat for all transaction l throughout the presene crop year, ant 1 in consequence the prices of four an, bread also. The food act has givel 1 large powers for the control of stor age and, exchange operations, an, 1 these powers will be fully exercised l An inevitable consequence will be tha | financial dealings cannot follow thei l usual course. Whatever the ad