The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1923-07-23

fading before those slogans, the embl
Of bread grain to level sufficient tO
The farmer Is learning that some
body cares. The campaign started in
Omaha to stimulate the buying of
wheat and flour has already seen a
slight sympathetic rise in the price of
wheat. Those who are backing the
movement feel assured that by widen
ing the present demand through a
popular buying campaign confidence
will be restored in the market.
Plan Is Spreading.
Under the direction Of John L.
Kennedy the Omaha plan for helping
the farmer is being spread to all
other grain centers. In a market let
ter sent out from Chicago by G. E.
Saunders of the Armour Grain COM
pany, it is stated that should this
movement openly or tacitly receive
official approval Of. or recognition
by, federal and state agricultural de-
partments, it could easily turn defeat
for the farmer into scintillating VIC
tory"
The interest and attention given
by men Of affairs, engaged in business
Of all kinds, to the possible effect Of
low wheat prices on their own busi.
ness, he believes should be reassur-
ing to the farmers.
A st. Louis grain company declares
that the probability of a reduced
acreage will have a tendency to sta
bilize prices. 1t reports also that
farmers are not only binning their
wheat and holding it from the mar
ket, but that they will feed consider
able Of 1t to livestock at present
prices, all of which is expected to
help the price.
Large Stocks Condemned.
Talk Of large wheat stocks is con-
demned by Eugene Meyer. jr, man
aging director Of the War Finance
corporation.
Stocks in Europe are reduced to a
minimum and If there are to be
stocks they have to be carried in the
producing countries, Mr.. Meyer de-
clared in late bulletin. He ex-
pressed the opinion that stocks in ex-
cess Of the prewar normal carried in
the United States and other produc-
ing countries probably are not great
er than the deficiency in the stocks
carried in consuming countries.
Mr.. Meyer apparently took issu.
with the report OF Secretary of Agri
culture Wallace's committee Of econ
omists. but conceded that 1t may b.
;<at ~ o. =.
plant other crops than to produc.
wheat for export until production OF
wheat IL balanced with the American
requirements, as the cost OF produc
tion here is comparatively high. Mr.
Meyer continued:
THE figures for the world stock o,
wheat in proportion to the world,
annual production and consumption
are not, In my opinion. dangerous
But. no one is in a position to CUES,
the wheat market. I believe tha
some OF the people who. with goo.
intentions, are trying to help tn,
wheat producers are lending power 4
the propaganda for depressing prices
/ think they are discouraging buyers
frightening producers, and encourag
ing bear spectators.
Laws Aid Marketing.
With the improvement in the gen
eral banking situation and the ampl,
resources made available by the legis
lation enacted by the congress II
March OF this year, there can be n,
question concerning the availabilit,
OF adequate financing for orderl,
marketing Of the wheat crop. as wei
- all other agricultural products"
Always there are farmers, some o
them tenants and others heavily II
debt. who have to ship wheat as sool
as it is threshed in order to obtair
Turn to PAGE Two. Column Threc.)