Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-01-12
EXPERT WARNS FLOUR MEN
U. S. GRAIN DIRECTOR SAYS
PRICE FLUCTUATIONS DUE
Dealers Should Reduce Commitmrnt. a.,
Minimum Wise Commercial
Policy, Julius Harness states
tBy Associated Press. ]


NEW YORK, Jan. 1l.-Warninr a.
price hazards which may confront
wheat and -four handlers after tho
withdrawal OF government control
when the activities OF the Grain Cor
poration are brought to an end in
June. was contained in II circular son,
today by julius II. Barnes. wheat di
rector, TO the holders of the ~ Ouo
licenses lie has Issued
nhphasis ~ placed by Mr.. Barnes on
tue statement that the reduction OF
commitments to the minimum required
Tor Tor inc conduct Of necessary current
policy for the grain trade unon inc
tcrmination OF two years of oniciai
StanliiZation and In view of the present
world situation.
ihat there * even now an clement
"i thr population which has demon
o,,;i = desire tn practice thrift is
Grain Corporations pure wheat Hour
"hich the government recently made
":aiiaDic TO the consumer at reduced
Pr,ceS' the wheat director states.
He also predicts that thrift as a ma
tional Characteristic may become as
t.h!aeious as extravaganza has been
Al the same time he attributed recent
price advances III certain grades OF
hour 10 Restricted TRANSPORTATION and
cNtraordinary Indifference to cxpcndi-
urcs by Il section Of our people"
No Guide (" Security.
There is no guide to point tho way
20 COMMERCIAL security" Mr. Barnes
says. Individual judgment must solv.
V We ia p aoi, soon TO be faced
World wide factors Of unprecedented
bo'cntiaIiiN and, submit Information.
rs rs. accurat" as humanity possible. on
"h!ch business policies must con-
tFuct The Grain Corporations week
~ reports OF trade data viii continue
our total wheat crop exceeded that
Of 1918. Much is said OF the relative
5GhrcitF or strong whcats. Tho cur!-
continued rcpluccmcnts from The South
west and the Pacific Coast and be
canSe Eastern mills will probably draw
rom Canada and the Argentine, tho
southwestern mills can grind fully
rqual 70 last years large production
and SIN leave AZ the end Of this crop
year q larger carry-ovcr in the North
west than last year.
Exports Les. I'm 1910.
nEXports for the past six months arc
,,:YGi, ,u bushels less than Las, year
iPl'hcult finances abroad, forcing utmost
rurtalimeni Of purchases. Will continue
prnscnt purchases, st.ll 20 be shipped
,earKeiy supply foreign requirements
rEG VIII replace some wheat. The
=, nt 6oe oo states can apparently export
, ogn CO. Dushe!s OF rye, against o.,
WIN no immediate prospect Of fur
ther purchases OF Hour by tho Grain
' W i'''hh''li. u Is lAlrcT TO ask the mill
." discontinue their weekly offerings
until we can advise some prospec;g or
further purchases. The export outlet
IS op"n TO them individually without
necessity for permits.
Farmers. millcr5 and dealers Cout-
side OF the Grain co-auraticn) own ana
arc carrying 49,. 800 600 bushels Of
wheat, against 2ga 900. 600 :, year ago
seriously ponder ou this statement
After Juno next the Grain Corpora
ton authority TO buy wheat al The
Guaranteed price expires. and Thereafter
the security OF that basis is WITH
drawn.
Warns Against IIa1ards
The fact that present prices largely
rule over tho government guarantee
should not obstruct "a study OF CON
ditions which may develop and at a
time when wheat price assurance no
longer exists Americas complex and
delicate mark citing structure must lie
preserves ANA prepared TO function
hth TINS agency r.tirrs.
Price nuctuation always Is fol-
owed by distress and loss Wisdom
dictates the reduction of commitments
dlct OF necessary current business We
should not feel that the full rcSponsi-
hiiity Of this Office had been discharged
without calling attention Ia the price
hazard which may exist for many
months, knowing that u large part OF
'nc producing and distributing trades
nave been accustomed by two years
Of Official sterilization and assurance
perhaps not to FULLY realize the danger
OF oHereHtendod commitments under the
present extraordinary world situation"