The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-02-14
THOUSANDS HEAR
McKELVIE'S SPEECH
Continued from page one)
Grain corporation is being built.

lODEl dLIFEo. II uGdl5 Will the Fdlili
er's National Grain corporation
and the money in turn is passed
along to members of the National,
these members being group coop
eratives such as the Northwest
Grain association, the Farmers
Union Terminal and the North
Dakota-Montana Wheat Growers
association which are the three
groups operating in the spring
wheat region. The Federal Farm
board has no preference among
these various groups. 1t is up to
the local unit to determine which
group it shall join.
The loan policy of the Federal
Farm board thus far must not be
regarded as permanent. Changes
will be made to meet develop
ments. For instance, before the
Farmers National Grain corpora
ton was set us loans we're made
to two groups in the spring wheat
territory. They the only
ones that at that time could quail
ify. With a new group now being
organized-The Northwest Grain
association and all Of these
groups taking membership in the
Farmers National Grain corpora
ton, it is the hope Of the Federal
Farm board to serve all grain
farmers when the next crop is
ready to market.
Govt. Desires To Help
Due to an unwarranted decline
in grain prices when the stock
market collapse took place last
fall, the Federal Farm board an
nounced on October &c that it
would loan to farmers through
their cooperatives the full amount
of the cash price at terminal
markets of that date. 1t was I'M
derstood of course, that the CO.
operatives in advancing this mon
ey to growers would make ample
deductions to cover freight, hand
ling and carrying charges. This
was to apply to this years crop
only. What may be done on future
crops will be determined by con-
ditions. Since then the Farmers
National Grain corporation has
been buying country run wheat at
the principal terminals on the
loan basis announced last fall.
The extent to which these things
have been done is significant OF
the desire Of the government of
help in every practical way so
that farmers might secure the
largest possible benefits in mark
citing last years crop.
Grower Has Three Options
1t is the intention of the Fed
eral Farm board that the grain
cooperatives shall be placed so
completely in control of their
marketing system that speculation
and gambling in the commodity
may be eliminated. The grower
may market his grain on three
options, namely, (1) for cash on
the day of delivery at the local
elevator; (2) to be stored and an
ample advance made on the stor-
age ticket; 90 to be pooled and
an advance made with subsequent
payments as the grain is sold dur
ing the marketing year. Cash
grain will be sold in the Compel
tive market; stored grain will be
held subject to the call of the
grower and will not be sold until
he SO orders; pooled grain will
be sold according to the best
judgment Of the central sales
agency. All grain will be sold I'M
der direction of the Farmers Ma
tional Grain corporation, thus pro-
viding ample volume to insure
economy in handling and arderly
marketing.
In the case Of grain stored for
deferred sale at the option of the
grower, it is my opinion that it
should be made legally impossible
for this grain to be sold or in any
way dealt in until the grower ex-
e~rcises his option"
From Co. Extension Office.