The sun., 1918-10-22
FARMERS ASK FOR
$2.46 WHEAT RATE
Start Propaganda Drive to
Boost Price for No. I
Grade on Farms.
WOULD GAIN S46O,OOO,O0O
Additional Cost at Terminals
From Far Points Prob
ably 30c. Bushel.

Having had the taste of Government
maintained price for wheat the farmers
want more. The agitation which was
started late last winter for $2.40 wheat
was finally vetoed by the President. but
will not stay down. A new propaganda
Is under way, with different price
but MATCHMAKING a minimum cost Of
s2.4s for No. wheat on the farm. II
became a law as is in practice at pres
cnt, Il would mean s2.46 as far back
as the freight to the seaboard would
warrant paying s2.46, and from that
point through the intermountain terri
tory the price would have to be alb
sorbed at the extra freight cost. II
sf.ts was made the minimum price at
tho least advantageously situated inter-
mountain point, 1t would add about 30
cents a bushel more to the price at the
terminals
The problem Of IS cent advance
lover the present minimum OF 50 on
the farm would mean an increased cost
o. 1000, 100000 bushels Of $4S0. 900. goo,
to be paid by the consumer in this
the war ends and the worlds cham
nels OF transportation are reopsned, the
Government would have to sell the
wheat i'm competition with the rest OF
the world, and tax the nation to make
up the difference.
The possibilities of the crop next year.
even on an average yield. are very
great II Ii estimated now that the
seed requirements will be fully S,000.-
90 bushels more than last year, which
win mean an increase OF nearly $780,
400 acres In the area. A crop of over
billion bushels would be easily posi-
bile, with an average yield, and 1t would
he some problem to take care OF II.
With the present crop and the Allied
md neutral world crying for wheat
here IL already q visible supply Of
Ih7,0o0.000 bushels. while the indica-
tons are there are vastly larger stocks
Ia mill and country elevators.
Farmers have been apprehensive that
they would not get the prevailing price
tor wheat. and have only been re-
strained from sacrificing their Wheat by
an urgent message from Mr. Hoover
10 hold on until transportation condi-
Gems become easy. The present visi-
BILE supply has been piled UP from less
than 100000 bushels on July ]. but a
year from July 1t is quite possible there
will be reserves on hand in store OF
1e0. 5000 bushels. facing another crop
OF 1000, 900 bushels which, at $2..6,
would be an immense problem to handle
and finance. The problem will be seri-
Gus enough when peace arrives and food
supplies come in from Australia and
India to merchandise the surplus and
the new crop OH the basis OF 81 mini
mum, while the adding of a possible
s5o0,000,o00 more to the problem to
be absorbed by taxation in case the
wheat Is sold in competition with other
countries. or to have -four advanced
$3.50 barrel more to the Consumer,
and the loss on the surplus absorbed.
makes serious possibilities.
CHICAGO, Oct. 21.--Corn prices broke
sharply to-day under selling pressure
due to bearish versions OF the German
reply to President Wilson's note. I'm
certainty, however. as to the real mean
ing of the Berlin answer rallied the
market to a considerable extent. The
finish was unsettled, Ia TO 2Bc. net
lower. with November s1.20A to $l.30ls
and December s1.16ls to $1.16&. Oats
closed !. to Isc. down and provisions
varied from Use. decline to SOC ad-
vance.
Before news was received that the
contents OF the statement from the
German Government was likely TO be-
come public this afternoon the corn
market had a decided upward swing,
Influenced almost wholly by the fact
that the delay to the answer was con-
strued on all sides as builish. Never
theless support displayed at no time an
aggressive character and had become
nearly exhausted when about an hour
before the close a sudden increase OF
selling denoted the effects of the sup
posed bearish tenor OF Germany's an
swer. Later interpretations were more
or less conflicting. and shorts covered
somewhat freely at the last.
Oats parallelled the action Of corn.
Most OF the trade was local.
WHEAT-The visible supply Increased
f,s+9,oo0 bushels last week and the total
In the United states is now l0;34s 900
compared with s.7i2.oo0 last year.
CORS---Msrket nervous and feverish
advancing TO cents bushel early in
the day and later breaking to cents
In the local cash market No. yellow was
quoted at fl.6'; No. 3 yellow. sl.s4, C. T.
New York.
standard quoted at use. No. white,
Ishc.; No. white. 7Sc. :. No 4 white
evator
EYE-Ha-kst quiet: No. Western.
G.77. elevator export.
BARLEY-Markst steady; feeding, SLIP;
milling. slIj, @. Z. New York
AS--Msrhet quiet: No. J. $40 to
!:is; No. =, 81 to te.o5; No. 9, $3.50 TO
CHICAGO PRICES,