Word: grained
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Last week Under Secretary of Agriculture True D. Morse called an emergency conference on corn-storage problems in Des Moines and urged farmers to build more storage bins of their own. Said he: "We are moving forward on the premise that grain storage should not be run by the Government. It should be stored . . . on the farm, and when it leaves the farm, it should be handled by commercial people ... I fear that if the Government must resort to buying bins and putting them up to store corn, we will have to look at the bins in the future...
...grain country, Morse's statement was coldly received. The grain men thought the Government should provide storage facilities, as it has for years. Storing wheat is especially attractive to farmers now that the spread between the market price of wheat and the Government-loan price is the greatest on record. The farmer could sell his wheat in Chicago last week for around $2.04 a bushel. But if he stored it, he could borrow $2.54 from the Government, pledging the grain as security. If prices do not rise, he can let the Government take his wheat. One hitch: grain...
...following day, Morse got word of the grumbling in the grain belt. Mindful that President Truman had blamed the G.O.P. in 1948 for lack of storage facilities, Morse hastily "clarified" his staement. The Government, he said, has no intention of getting 'out of the storage business right away, may even buy more bins to handle this year's wheat and corn urpluses. He pointed out that it would be "good business" for the farmer to build more storage capacity, so that he could have the grain on hand and ready to market if the price went up. Furthermore...
News of the latest grain scandal first leaked out last month, when Houston's port commission fired Manager Fellrath and his assistants; CCC's Cunningham promptly resigned, and New Orleans...
...wheat as filler [and] the Houston Merchants' Exchange checked that wheat every two weeks - checked it and approved it." Demanded Fellrath:"Is it my fault if they approved something they shouldn't have?" This week, the Senate Agriculture Committee was trying to subpoena the records of Transit Grain Co., and set about finding out if life in other grain elevators was as profitable as in Houston and New Orleans...