Word: bensons
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Sternly trying not to look over his shoulder at political hobgoblins, Secretary of Agriculture Ezra Taft Benson last week announced that a ruling known as "total acreage allotment" would be abolished. Farmers and farm-bloc Congressmen have complained more loudly about it than about flexible price supports...
...cotton, corn, peanuts, tobacco) had to restrict his total planted acreage to a Government quota and could not plant his excess land to anything but hay and pasturage. Now he can plant it to anything he pleases, except the major crops, potatoes and a small list of commercial vegetables. Benson expected that most of the decontrolled acreage would be planted to feed grains and forage crops, which farmers badly need, especially in areas hit by drought and heat...
...Said Benson: "There is going to be greater emphasis placed upon price and less on controls as a means of adjusting production ... I have never liked total acreage allotments ... I said so [when the allotment program was announced] in June...
...Nonvoting common stock cannot be listed on the New York Stock Exchange, although it can go on the American Exchange. On the other hand, if voting rights are granted to the public shares, it is probable that the Ford family would lose control of the company. Henry II, brothers Benson and William, their mother and sister own only 172,645 shares of Class B stock (at present the only voting stock). Thus it looked as if the foundation stock, when and if it goes on the market, would be nonvoting...
...Senate beat away the chaff of demands for 1) increasing price supports on soybeans and feed grains (oats, rye, barley, grain sorghums), 2) imposing cattle supports at a rigid 80% of parity, and 3) pegging dairy supports at 80% instead of the 75% set by Agriculture Secretary Ezra Benson...