East Oregonian : E.O. (Pendleton, OR) 1888-current, 1921-12-23
GRAINGROWERS ASK
FOR INVESTIGATION
Of WHEAT EXPORTS
Damaging Facts Allc red in
Regard to Market Efforts
of Men Controlling TIarket.

The president OF the unitc,l States
Grain Growers, Inc, is ia ing an
appeal to the grain growers OF the
country to insist on early investiga-
ton of the export grain trade By the
federal trade commission in order
that the real reasons for present
ruinous prices may be determined
1t is suggested that every grain grow
err write to his congressman n urge
| early action on senate resolution No.
1873 which provides for investigation
of the real factors hat ia smash
ed wheat prices, despite wheat eX-
ports that break all previous records.
AT the same time wheat prices are
being hammered down to the dollar
: mark and grain growers are being
] led to believe that a weakened for
!. eign demand will not require a nor
NAL eNportable surplus, we find that
! more wheat has actually been eN-
! ported thai ever says c. II. Gus
tafson, president of the grain grow
= ers.
Big Export Gain.
"The average bushelaGe of wheat
4 exported during the first 10 months
: Of the normal, pre-war years of
1908 was 60,5SS,S44 bushels. In
! 1920 all previous records were shat
tered when we exported 16e, 34S,S14
:. bushels in the first 10 months of the
8 year. But in 1921, when we are told
z again, as in 1920, that European
8 demand for American wheat has
y slumped, we find that in the first
10 months Of this year we have eX-
: ported 255,S0O,7S7 bushels-almost
= 80. 900, 600 bushels more than in
1920.
!. with present prices for grain
: driving farmers into debt, and even
u bankruptcy, we are told that we may
expect the market to go lower h
q 81 for wheat. The most frequent ex-
= PLANTATION is that of no foreign de-
: mand.' But now we learn that Swe-
dish grain growers have asked for
2 an embargo against cheap American
wheat because it is being imported
: at less than the Swedish cost of pro-
. duction.
November 8 wheat sold at 90
q cents Il bushel in the Chicago mar
= NV Wy iAAoN hAAAt ia ~ NNoio tiiNN
: it fell below the dollar mark. When
interviewed concerning the subject,
James Patten, wheat king, said that
= it would go down much farther, since
4 there vas no consumptive demand to
bolster up the market, and that Eu-
ropean credit was SO poor that 10
z export demand could be depended
=. upon to hold up the market.
Market is Depressed.
This statement has been repeated
4 again and again with the result that
8 it has been one of the most depress-
3 ing factors in the markets. While
= that was being told and enlarged
on, the exporters were handling an
average of nine million bushels more
4 wheat each month than in 1920, and
1920 was a record breaker.
when the year was done, official
= government figures showed that q
total OF 307, 1914, 900 bushels of wheat
= and wheat flour were exported in
1920, as compared to the average ex-
= port of 227,9S0,600 bushels of wheat
and wheat flour for the five years
of l915-l919 exclusive. If the ratio
of 1921 exports are continued to the
close Of the year.. the total exports
of wheat and wheat flour will ex-
coed $4,000, 900 bushels. And then
= we are told that the reason why we
ed have dollar wheat is because export
Is, trade is shot to pieces; there is no
Sc demand.
m, But facts relative to rapid grain
he price decline were presented to Pres
h. ident Wilson in the fall of 1920, and
he ordered the Federal Trade COM
mission to investigate the tremendous
decline in grain prices.
Cooperation Not Given.
D. The following from the reports of
DIS the Federal Trade commission to
ass President Wilson is significant:
mt "1he commission has not had tho
er opportunity to obtain directly the fiji.
ures which would determine c0nclSi-
siVcly whether large transactions IN
futures of manipulation charactef.
have occurred. II has sought but
- has not been able TO secure the co.
operation OF the offirers and direct.
orS of the Chicago Board of Trade
deemed necessary for the collection
of pertinent information in this
ny country
= THE reason why the grain ex-
change officials in Chicago did not
wish to have the facts relative TO
grain exchange operations for that