The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1919-05-14
GRAIN MEN
WILL AGREE,
BARNES SAYS
j. S, Director Issues State
ment on Conference, I
FLOUR PRICES DOWN, TOO
Large Crop Prospect NeCeS-
states Reductions.

NEW YORK, May 4-lmmediatc
reduction III the price OF wheat reach
ing all down the line from the pro-
ducer TO the baker is believed as
sured according to statement is
sued today by Julius Barnes, wheat
director. following prolonged con-
ference Yesterday between Mr. Barnes
and representatives OF the gram in
duStry including grain handlers,
mlllefs, iobbers and bakers.
Barnes Statement.
The statement issued by Mr. Barnes
says:
There was a general agreement
that IN order that all the wheat pro-
ducerS OF the country should secure
equal benefits. that the various trades
could be bound by contracts to see
that wheat trading should be only on
the guaranteed price and, If lower
basis was justified with the develop-
ments of world factors as the season
advanced, this lower basis should be
made TO reach the consumer by trade
agreements with mllers and manu-
featuring facilities, the wheat di-
rector making the readjusting basis
effective by the payment Of the die
ference as allowed under act OF eon-
gress.
"ln return for protection against
a fall in price. after the guaranteed
price had been made for wheat
bought. the wheat director would re-
quire from the various trades con-
tract obligations by which their trade
practices and margins Of profit would
be subject TO review and control by
the wheat director
IT was suggested, for instance.
that the mills agree that their total
gross operation profits between wheat
bought and the finished product sold
should not exceed an agreed basis per
barrel of flour manufactured, thus as
suring immediate reflection TO the
consumer OF any reduced price of
wheat supplied to the mills.
The jobbers expressed a willing
ness also TO contract that their hand
ling margins should not exceed the
price fixed on an agreed basis. thus
making Immediately effective a lower
retail price Of flour when made by
the mills on a rcadlus,ed wheat basis.
Bakers to Accept Contract.
The bakers were willing 10 enter
into a contract whereby they would
reflect at once in their products the
lower price OF flour made effective by
the mills. ln this way, down to the
retail trade there is thought TO be an
assurance that reduced price pf
wheat should be effective Immediately
all down the line.
Lower Flour Prices.
Some of the western delegates ex-
pressed the view that certain section,
OF the producing wheat country had
produced a sentiment that wheat next
year might be worth more than tho
guaranteed price in the open markets,
but the general view WAS that tho
crops promised so we'll that any with
holding from the market under such
sentiment, would be unappreciable in
the total volume and that most grow
ers would be ready to market at the
guaranteed price thus sharply reduce
ing the present price OF wheat and
facilitating lower flour price with
the new crop movement
New wheat will be moved in Texa,
in thirty days and from the present
outlook in six weeks more they will
commence very large movement OF
new winter wheat In order that sea
ports and interior markets should not
be choked by congestion and blockade.
the general opinion was tina, the grain
corporation should continue the CO.
operative control with the railroad ad-
ministra,ion OF the movement Of cereal
and cereal products into all the mar
kets by the permit system of car ship
ment
Much Wheat Shipped.
1T was developed during the meets
ing that although vessel movements -
ports las, fall were especially erstic.
accentuated by the necessity Of divert
ing food,,uffs for motor trucks and
munitions to press the fighting on the
western front. when the German line
began to give way, yet the permit con-
troll succeeded in preventing any actual
blockade while the really astonishing
total OF three and one half billion
bushels Of grain was moved in nine
months from July through elevator
and mill iacil,ie, Of the country. al
though the height OF the grain at one
time At these elevators was less than
q half billion bushels. This msass Q
total turnover Of seven times h sise
months, which is only possible " ~