The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1918-08-30
PROF|TEENING IN
farm EQUIPMENT
HAS Been DEFINED
Secretary of Agriculture in COmmuni-
cation to Mason County Agent
Explains Legal System Of
Farm Equipment Dis
tributiOn.

Mr. Frank Boyd, the County Agent,
is in receipt of the following commun-
ication and statement from the Secre-
tary of Agriculture:
For your information am enclos-
ing herewith copy of a statement re-
Gently issued by this Department in
regard to the sale of farm equipment
on a replace value basis.
If at any time complaints come to
your notice regarding practices in
connection with the distribution of
farm equipment, we would be glad to
have you forward full particulars to
this Department
Washington, d. C.--Selling goods
on replace value basis in certain
cases will be considered proliteering,
according to a statement issued today
by the Office of Farm Equipment Con-
troll of the t. S. Department of Agri-
culture, which administers the liccns-
ing of the. farm equipment. industry
under the Food Control Act.
Farm equipment held, contracted
for, or arranged for, by any maHmac-
turer, wholesaler, retailer, or other
dealer, in excess of the reasonable re-
quirements of his business, for use or
sale by him in a reasonable time, is
considered boarding, under the mean
ing of the Act of Congress approved
August 10, 1917, to provide further for
the national security and defense by
encouraging the production, conserv-
ing the supply, and controlling the
distribution of food products and fuel.
Any farm equipment that is hoard
ed cannot he considered under this
ruling the statement says, but will
be dealt with under the Act, according
to the merits of each particular case
The prices of farm equipment are
more or less seasonal, but if the price
should arise or fall during the sea-
son, then. to be consistent, person
who wishes to sell on the basis of re-
f, placement values would be Obliged
to sell at a loss IL the price fell Equiv
ment carried over from one season tC
another-that is, the residual from {
previous seasons reasonable supply
should be considered in the same
manner. Therefore, If persons have
sold at replacement values, they mus
continue to do so when drop il
prices comes, and carry the sam'
amount of stock as in the beginning
throughout the period of the higl
prices in order not to profteer.
In short, says the statement, it viii
not be considered protiteering If farm
equipment is sold on the basis OF re
placement prices and this practice i
continued during the period of higI
prices caused by the war.
1t will be considered profteering
manufacturers, wholesalers, retail
ers, or other dealers, having a regu
lar stock of farm equipment, sell on
at replacement value during risin
prices without replacing the stock o
intending to replace it, and selling a
replacement values when prices ar
falling. Manufacturers, Wholesalers
retailers or other dealers, desiring t
SELL out without replacing, should sci
at cost prices plus fair usual prof
it.
1t will be considered boarding
any manufacturer, wholesaler, retail
er, or other dealer, holds, contract
for, or arranges for a quantity of farm
equipment in excess of the REASONABLE
requirements of his business for sal
by him over reasonable time. Man
ufacturers, wholesalers, retailers, an
other dealers finding themselves in
advertetly in this position should sci
at cost plus fair usual profit
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