Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-27
FARM BOARD LOSS
ESTIMATE BOOSTED
S185, 100000 Total With
Figures by Minor on Grain
Sterilization.
BY the Associated Press.

BY the Associated Press.
A new and higher estimate of Farm
Board losses in wheat sterilization op-
erations was made today before the
Senate Agriculture Committee.
George S. Minor, general manager
Of the Grain Sterilization Corporation
which bought hundreds of millions OF
bushels of the grain in an effort to keep
up prices, said the total paper loss"
was 100000.
Chairman Stone Of the board had
previously been reported as estimating
the paper loss in wheat at $l02, 000, 900,
fixing the total paper losses in the
grain and cotton at about $177.Ooo,oOo.
Minors figures brought the total
board paper loss to $1S5, 100000 in try
ing to keep wheat and cotton out OF
their lowest price ranges in years.
Millions Benefit Claimed.
Farm Board officials, however, assert
the farmer was benefited by millions,
despite the paper losses, claiming the
boards operations prevented wheat and
cotton from going even lower.
Minor said there had been far more
speculation in wheat since the board
ceased its sterilization operations, and
in reply to a question, said he had
heard 1umors of tremendous efforts"
to discredit the board and cooperative
marketing
He added that he could not fix their
source.
Ia this connection, Senator Wheeler,
Democrat, of Montana, mentioned a
statement by President Hoover crlticiz-
ing bear raids by wheat spectators.
Senator Wheeler said the President
some time ago issued statement saw
ing in effect there had been a drive by
wheat spectators to deprcsS the price
n order to discredit the Farm Board.
do you know anything about it?"
ae asked. .,
i've heard various rumors," Minor
replied. "of tremendous efforts to dis
credit the board. the sterilization cor
porations and cooperative marketing In
general. but could not fix on their
source"
wheat Held in October.
Minor told the committee the Farm
ers' National Grain Corporation held
l2.IS4 600 bushels of wheat on Octo-
Der 81. The Grain Sterilization Cor
poration, Farm Board subsidiary, which
bought 329, 00O, UOO DuSnelS OF WnedU
over a two-year period, still holds 1884,
CSC. 1877 bushels, he said.
Minor was called to tell the details
of the operations of the corporations
he manages.
The life of the Farm Board may de-
pend upon the results of the 1nveSt1ga-
ton of its activities. Its enemies want
it abolished or its power sharply cur
tailed. The board, however, has the
support of farmers organizations whose
representatives have testified. !.
Minor said the Farmers National
aim was to get the highest possible
price for its farmer producer members.
us there anything to the argument
that such a single marketing organ
ization keeps, the price DOWN." asked
Senator Wheeler, Democrat, Montana.
mo" Minor replied.
Competition among private dealers
is keen and they try to beat The price
down. We hope to control tie market
and ask the millers what we want in
stead of asking them how much they
want to pay"
The corporation october 81 owed the
Farm Board SIC, 900 and private
commercial banks $2,194 900.
"It relies on money from the Farm
Board to carry on its operations?"
Chairman McNary asked.
Yes" Minor replied
Senator Norris, Republican, Of Ne