The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-05-07
NEARBY OHIO MILLERS' PRICES
HIGHER THAN THOSE MADE HERE

at that time also declared that IL this
restriction failed to reduce the price
of wheat and flour to reasonable
level that the government would per-
NIT imports from Canada, Argentina
and Australia. The grain corporation
owns large stocks of rye and these
were to be liberated to take the place
of wheat for export until the price
of flour came down where 1t belongs,
in this country.
Mr.. Barnes claims that under the
resale rates legitimate milling is as
sured a lair profit and that the recent
advances in the price of flour have
not been fully warranted" a mild
enough statement surely.
Rumors on the Chicago board of
trade early on Monday were to the
effect that all restrictions on the i'm
portation of Canadian wheat were to
be Immediately taken OH. But before
this talk became current No. North
ern spring wheat sold at &c per bushel
over the Saturday price level. In the
face of all rumors wheat more than
held its own in all western markets
on that day.
The facts as now officially promul-
gated seem to indicate that while we
are now to let in some Canadian
wheat, the amount will be limited to
few millions of bushels, at least for
the present.
Corn Breaks Badly.
That the promise of the entry of
Canadian wheat into this country
should break the price of corn 10 to
IL cents per bushel in an hour does
not appear reasonable. but that is just
what happened in Chicago. But a
quick rally In price followed and more
than half the loss in price was regain
ed before the closing hour.
At conference with wheat and
flour men at Minneapolis this week,
Mr.. Barnes stated that "a moderate
downward revision Of prices was an
ticipated," also that a moderate
amount Of Canadian wheat would be
brought into the country with that
end in view. This all tends to show
that Mrs. Heath's cablegram to the
president is already bearing fruit and
that amid all the trying hours and
scenes at the peace conference, Mr..
Wilson has found time to indite few
lines to the food department at Wash
ington.
There's Plenty Of Wheat. Il
No claim that there Is yet a short
age OF wheat in this country can justly
be made. It is said, however, that it
is not widely distributed, that the gov
eminent supply is "congested," and
this may also be said as to the stocks
held by the big pools. But the govern
ment Is still running the railroads and
can distribute as 1t will But In spite
OF this truth we understand that there
is much competition for the small
amount of wheat still held by farmers,
the demand coming from small local
mills. In view Of the quantity of gov
eminent owned stocks one wonders at
the high premiums lately paid for
wheat at country points. Southwestern
mills have paid up to $3.50 per bushel
within week, which was equal to SO
per or better at Kansas City.
In view of all the circumstances and
the voluminous machinery for regu1a-
ton OF prices and supply, at Wash
ington this state of affairs seems to be
unwarranted. It begins to look that
a guaranteed minimum price to wheat
growers does not preclude sky high
prices on wheat and -four to the rest
of creation.
A comparison of the price Of one
leading Minnesota flour on January 2
with today's quotations on the same
label will be of interest just now. This
particular spring wheat patent sold at
$1O.25 in car lots on January 2. The
same -four was still selling as low as
$1,000 on March II. Then something
happened. for on May 2 the price on
this Identical brand was 1880 The
Richmond buyer was allowed freight
to Chicago, but paid for the delivery
from that city to this point, and then
had the expense Of carriage to also in
clude in the net cost laid down.
1t is difficult for the consumer to
see the need for this advance~of 255
per barrel since January We arel
assuredly four months nearer now
than then to the most bountiful wheat
harvest ever promised this country.
Certainly something may happen to
the coming crop; but there will be
plenty Of time in which to advance