Evening star., 1948-02-11

had no 'tinside informa-
ton" from Government agencies
and that no corruption" Is in-l
volved.
The secretary also stressed these
points Iii. his testimony:
/. A forecast that this years
wheat crop may run well ever a.
billion bushels" despite bad start
for the winter wheat planted last
fall.
2. A denial that the Government
has attempted to bolster the recent
market decline by announcing new
purchases for exports.
3. A promise to use any power
to fix margins in q reasonable man
ner.
The Government now has the
power to supervise futures trading
in certain commodities. This In
cludes fixing limit that any one
trader may hold, but it does not
include limits on the amounts OF
margins or down payments. These
are now set for grains by local ex-
changes.
Anderson Resignation Demanded.
Meanwhile, Senator oDaniel,
Democrat, Of Texas, charging on the
Senate floor that Government buy
ing drove grain prices to an abnor-
NAL height, demanded that Secre-
4or,, An6arcrsy, resign
His remarks brought sharp re-
ply from Senator Lucas OF Illinois,
acting minority floor leader, who
declared that whatever Mr.. Ander-
son is doing In the buying Of grain,
'he Is doing under a mandate OF
Congress"
Senator Hatch, another Democrat
from Secretary Anderson's home
state OF New Mexico, also rose to the
Secretary's defense. Mr.. Hatch ac-
cused Senator ODaniel Of "vindic-
tive mud singing" without support
ing facts. Senator Hatch said the
|Secretary's Government transactions
on the grain market have been open
and above board.
Secretary Anderson supplied Mr..
Maynard's name after Senator
Young, Republican, of North Da-
kota demanded it be made public.
Secretary Anderson said Mr.. May
nard held 100000 bushels OF July
wheat futures on the short side and
when wheat dropped made profits Of
about 100000.
Went Into Oat Futures.
Then Mr.. Maynard went into oats
futures, Secretary Anderson said,
and bought and sold them to make
another big profit as the market
moved up at first and then down.
HE had no information from us,
the secretary said, adding that If
Mr.. Maynard had asked the advice
of Government officials on buying
oats in a declining market they
would have told him to do just the
opposite.
That was an apparent reference
to charges by Chairman August H
Andersen of the House COMMITTEE
investigating speculation, that there
had been a leak on the Govern
ment's grain-buying plans.
Mr.. Andersen said in a statement
today that Secretary Anderson was
trying to throw a smoke screen
around the alleged leaks. Secretary
Anderson has repeatedly denied any
advance tipoff on the market drops
and has accused Mr.. Andersen o
politics" in making the charges.
Again Denies Taft Charges.
Secretary Anderson also reiterated
today denial Of charges by Senator
Taft, Republican, of Ohio, tina
Agriculture Department officials
tried to halt the market decline b!
buying grains for export to Europe
He told the, Senate group tina
in five months the department
bought approximately 100000, ,00'
bushels OF grain for export SO i
needed only 100000 bushels ad'
dNional during the next sever
months.
:. The Secretary said this informa.
ton in.-the hands of "professiona
] traders" might be used to push
prices down. But he denied thai
|, department announcements were
aimed at halting price dealings al
Senator Taft charged.
Secretary Anderson said contro
of margins "to cool the speculative
fever before it is too late is the only
remedy we can see as a possible
alternative to more drastic meas
ures."
He recalled that he and Presiden
Truman have been demanding In
| creased margins on speculative trad
ing for many months and tina
spectators and exchange official
hova haan npnOgnd