The sun., 1917-08-13
US. TAKE ALL
OF WHEAT CROP;
CHEAPER BREAD
Elevators and Mills to Be
Licensed and Price Will
Be Fixed.
IN EFFECT ON SEPT. 1
Agencies at All Principal
Terminals for Govern
ment Purchases.
BAN PUT ON SPECULATION
HOOver's Far Reaching Plans
Provide for Absolute Con-
troll of Exports.
BAN PUT ON SPECULATION

W Ash ING1NN, Aug. l2.-FRf reaching
plans for control Of the couutry's wheat
supply were announced tonight by the
food administration. The scheme pro-
posed by Mr.. Hoover contemplates the
purchase Of the entire 1917 wheat crop.
the licensing Of elevators and mills the
appointment OF a fair price committee
which will fix the price TO producers, the
abolition OF trading in wheat for future
delivery, and absolute control by the
food administration Of exporus Of wheat
and -four.
The first step which the Adminlstra-
tion proposes 10 take is the requirement
OF licenses for all elevators and mills
with a capacity greater than 100 barrels
day This regulation will 60 into ef-
feet September ! and the conditions Of
issuing the licenses are that only the
reasonable and customary charges shall
be made for warehouse service; that no
wheat shall be stored for more than
thirty days without approval Of the Ad-
ministration, and that certain inforrna-
tion as to receipts and shipments be
regularly supplied.
Agencies will be opened for the pur
chase of wheat az all the principal
terminals and transactions will be car
ried on with the regular dealers. Based
on August ] conditions the 1917 wheat
crop was estimated at 653,00O,OOO
bushels No restrictions will be made
as 10 quantities which will be purchased
and no charges will be made except a
nominal percentage 10 cover the costs
Of operation. A properly created audit
ing COMMITTEES will check all transac-
tions at every point
Committee TO FIX Price.
The price which will be paid win be
/ determined by committee TO be Sc
lected from producers and consumers OF
| the community under the chairmanship p
/ OF President Garfield Of Williams Col
| leFe The names OF the other members
ot the commission have been submitted
/ 10 the President for approval and will
I be announced soon The price which
will be fixed cannot be toretold at THIS
/ time and will probably not he deter
mined for three weeks.
This arrangement, Mr. Hoover be
lieves. will stabilize the price OF wheat
throughout the year and obviate the pos
/ sibinty either of unduly high prices 20
. the consumer through advancement OF
( the export price under the influence OF
I the great foreign demand or 10y the SUP
ply getting into speculative hands, and,
/ on the other hand. y viii also protect
the producer hv preventing fluctuations
which might force the price below the
cost Of production
The guaranteed minimum price Of s:
a hushel for wheat set out in the food
bin does not apply 10 the 1877 harvest
but only TO the 1915 harvest under Cer
tain conditions The basis For determin'
ing the 1877 price will be fair returr
10 the producer for his patriotic en-
deavor 10 Increase the supply and
proper reduction in the cost Of -four :,
the consumer Unless the cost ~ whoa
bread and -four can be materially re
duced NJ Hoover concludes the natior
cannot expect 10 maintain the preseu
wage scale in this country.