The Watertown news. [volume] (Watertown, Wis.) 1917-1919, 1917-08-31
WILSON FIXES
PRICE OF WHEAT
At $2.20 PER BU.
President Sets Figure for 1917
Crop After Conference With
Food Body.
LONG DEADLOCK IS ENDED
Executive in Statement Hopes Action
Will at Once Stabilize and Keep
Within Moderate Bounds Price
Of Flour and Bread.


Washington. Aug. 31.-The price Of
the 1917 wheat crop will be $2,20 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
mtttee Of the food administration.
The president declared that the price
specified, applying to what is known as
No. northern wheat at the Chicago
terminal, would be rigidly enforced by
the government.
Members of the price-fixing commit
tee ended their deadlock at five o'clock
and at once went in body to the
White House, where they confrred
with the president.
A reduction IN the price of -four 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 IS cents barrel. Flour
has sold at about $15 a barrel when
the price Of wheat scared to So. The
fixing Of the price Of wheat at $2.2O
Is expected to cut the price of flour
possibly to $12.
The millers' committee is meeting In
New York and will agree upon stable
price without delay.
The system of licensing elevators ar
ranged by the food administration be-
comes effective on Saturday, The
$50, 600 grain corporation, organ
ICED by the food administration, will
at once begin to purchase and sell as
much grain as necessary to prevent
any f1uctuation in the price.
President Wilson's Statement
President Wilson's statement was as
follows:
1.-THE White House. Washington, Au-
gust 81, 1917.
Sectional 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 -four for our allies, and to a con-
siderable degree for neutral countries
also, has been placed under the control
Of the food administration. l have
appointed a committee to determine 8
fair price to be paid In government
purchases. The price now recon-
mended by that commfttee-$22 per
bushel at Chicago, basic graded-will
be rigidly adhered to by the food ad-
mfnistration.
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.
IAN inevitable consequence will be
that financial dealings cannot fol-
low their usual course. Whatever the
advantages and disadvantages Of the
ordinary machinery of trade, it cannot
function well under such disturbed
and abnormal conditions as now exist.
In It's place the food administration
now fixes for Its purchases fair price.
as recommended unanimously by a
committee representative of all inter
ests and all sections, and believes that
thereby 1t will eliminate speculation,
ho Of
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 better
the position of consumers also.
"Mr Hoover, at his express wish,
has taken no part In the deliberations
of the committee on whose recon-
mendation 1 determine the govern
ment's fair price, nor has he in any
way intimated an opinion regarding
that price.
WOODROW WILSON"
Report of Committee.
The report of the price-fxing COM
nittee follows:
ITO the President of the United
States:
''The undersigned committee has
been asked by you to recommend the
price which the government should pay
for the 1917 crop of wheat.
'1n its deliberations the committee
has kept constantly In mind the three
following factors:
al. The fact that the United States
is at war.
''2. The need Of encouraging the
producer.