Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-03-01
SAY SPECTATORS
USED u. S. CREDIT
Federal Grand Jury Asks That
Government Reduce Price of
Flour.
MEMBERS OF, GRAIN COMPANY
Believe Present Condition Arose
From Appropriation of
1919 Crop.
lny Universal service. i

StohSNE, NAStt.. fcD. 23.-Ihc
Federal grand jury has made a re-
port, in which It expresses belief that
the credit of the United States gov
lators to carry the great bulk OF the
1919 wheat crop. It states that /. is
within the power OF the government
to reduce the price of flour whenever
II chooses, and begs such rclie.: The
States grain corporation. organized by
the government to protect its c!ti-
zens, are mentioned in the report. II
follows
. When the the government appropriated
S1.0o0,000,o0e TO buy the 1919 wheat
crop, wheat receipts became as good
as government bonds. Banks were
glad TO loan money in. any quantity
70 purchase wheat, for the money paid
tne,,da the farmers was va Immediately rcde-
fixed in the Northwest at $500 for soft
whea, VIII and s2.2e for, hard wheat for
the farmers were these sums less
ireight to coast points, averaging
10 g cents per buShel. In some cases
a small premium was paid for hard
wheat
Wheat Trust In Northwest.
'Thc majority of the mills in the
concerns. and each in turn has a grain
company which is officercd and oper-
concerns.
From a great mass of testimony
presented before the grand jury, we
wheat crop of this State. estimated at
42,oVoeo0 bushels. went into the hands
OK or, these, S.ss haifsdozen - grain companies
price.
a ar.rI,.
ane banks at one time were carrying
Sa,oolO00 worth of warehouse receipts
and AND It is not unusual to find thai a
QUO on wheat receipts.
Companies Manipulate Market
Having bought practically al! o; the
Wheat In the states OF Oregon and
have been able to advance the price
by sales to each other and through
nanipulations OF the grain market cen
methods
Although tho greater rart OF the
wnGae "ra;a was purchased , AROUND Se'o7.. ihc
TO their own milling concerns at the
prevailing market price. which at pres
Gn5 en- is from from s2,o $3.50 per bushel FOR
sorting the rights to manufacture -four
on the basis ot the price pa IL for the
Wheai-a price which is the result OF
'he!r own acts OF manipulation.
Dairy Industry Hard Hit.
The by-products Of -four, bran and
shorts. are a necessary food for dairy
eatte and the prices now demanded
,nr ,fd, these e. by,products mean dcstruc-
tion OF the dairy industry.
Under regulations existing in 1915,
mlllers were prohibited from making
more than 90 cents ton on mill feeds,
HXed by the United States food admin
issratlon ISL. tli, at s2s.75 neT ton; while to-
a L 1Of ay,1
The PACIFIC Grain Company. the sue
the; Pacific Coast Elevator Company.
and the Puget Sound Warehouse and
Elevator are owned and operated in
Mills concern. with headquarters at
Portland, Ore.
These, corporations were owned by
United States Grain Corporation for for
the northwestern district Al ,he
t:rne ne became vice-preside Mt he made
some kind OF transfer Of his inter-
csts in these concerns and does not
AT this time appear as the owner"
Ihc Pacific Grain Company admits
1nNihs bought 100000 bushels of tho
1919 wheat crop.
1T is impossible for this district to
,otain relief. for the grain companies
shreaten. In case action is taken to
Mills ~ the price paid by them plus
a reasonable carrying charge, TO close
md ship the grain to east
Illustrate any concerted plan OF
evasion. We would urge that the de-
partment OF justice take simultaneous
action in all wheat and -four centers OF
the United States.
Asserts 1t liz Politics.
'Tnis whole thing is a damnabl.
attempt to beemirch my integrity. I;
Is prom pted by politics and Jealousy"
grain operator and vice-president Of
tho United States Grain Corporation
for zone ton. at his home in Portland.
when asked today for statement re-
gnrding the charges made against him
in the report of tho Federal grand jury
"afY skirts are absolutely clear and
nNast feei secure secure in the knowledge that the
tho Federal attorney at Portland. fol-.
lowing my request at Attorney General
Palmer Will show there is not the
slightest Foundation for the sweepine
charges made by the Spokane grand
jury" $50 '>A
WEATHER BUREAU HAS