Evening star., 1932-03-22
STONE HITS RUM0R
|NVOL Wing WHEAT
Malicious Attempt to Manip-
uIate Market Seen in Mil
nor Trip Report.
ny the Associated Press.

ny the Associated Press.
Chairman Stone of the, Farm Board
said In statement today that rumors
concerning the visit of George S. Mil
nor of the Grain Corporation to Europe
were being circulated as "a part of a
malicious attempt to manipulate the
market"
At the same time, C. e. Huff, presi-
dent of the Farmers National Grain
Corporation, issued statement that
no significance should be attached to
Ailnor's visit and that international
sl<Iths, seeking mysteries for solution,
may turn their attention back to find
ing the Lindbergh baby"
Rumor Involving Surplus.
Milnor sailed for Europe last week
ported, particularly in market circles,
that the Grain Corporation was pre-
pairing to dispose of its surplus wheat
in the European market.
Stones statement said
Rumors are continuing to be circu-
lated that George S. Milnor, vice presi-
dent and general manager Of the Farm
ers' National Grain Corporation, went
to Europe for the purpose of dumping
stabilization wheat.
These rlmors are untrue and they
have the earmarks of being a part of
q malicious attempt to manipulate the
market for the express purpose of aid
ing those who are speculating in grain.
There will be no sterilization wheat
dumped anywhere. We announced last
July how this wheat would be sold. This
program has been followed and will not
be changed"
Huff's statement said:
No Mystery in Trip.
'The visit of George S. Milnor, gen.
eral manager Of the Farmers National
Grain Corporation, to the Offices of the
operative sales agency has engaged
public attention out of all proportion
to that warranted by the facts. Inter
national sleuths. seeking mysteries for ]
solution, may turn their attention back
to finding the Lindbergh baby. There
Is no mystery about Mr.. Minors trip
Gnd no hidden motive to be dragged out
THE Farmers National Grain Cor
poration is the largest single exporter
of United States grain. 1t has repre-
sentatives in every country importing
grain from the United States.
mfr. Milnor Is making a goodwill
trip. calling on these representatives for
closer acquaintance and to get first
hand estimates upon the export sit
uation as 1t relates to the new crop
movement.
THE trip which Mr.. Milnor Is max
ing Is IN behalf of the Cooperative
Marketing Agency. 1t has no other
motive. The trip is apparently being
made the occasion for an increased
attack by bear operators upon price
levels already too low, for personal gain
and advantage and to discredit the
Farm Board and cooperative groups"
Rapid Exporting Urged.
Rapid sale of Farm Board wheat
In n-competitive foreign markets
through appropriation of new funds for
export financing was urged today by
the Wheat Advisory Committee.
The committee, composed Of repre-
sentatives of farm co-operatives assisted
by the board, opposed the Gore bill,
which would impound the remaining
$50, 700, 900 bushels or stabilization
wheat It said: I'VE believe that 1t is
to the best interest of agriculture for
this wheat to be disposed of In places ,,
where United States wheat does not
usually go. Also this wheat should be
moved as promptly as possible without |
depressing prices so as to save further
storage costs
Administration leaders, including Sec
retary Hyde, are now seeking authority
to use 500 100000 of Reconstruction
Finance Corporation funds to extend
credit to foreign governments buying
wheat.