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...price rise. On April 1 they had good news. The rye crop was reported in the poorest condition in 55 years. Persistent lack of rain had parched the grain fields of the Dakotas, biggest of U.S. rye producers. Demand for rye on the other hand, normally 35,000,000 bu. per year, would be bigger, since at least 5,000,000 bu. were needed in the whiskey trade. Only one factor disturbed the waiting traders as they contemplated their market-millions of bushels of Polish rye in bonded warehouses along the Atlantic seaboard. By last week this stock was estimated...

Author: /time Magazine | Title: Business & Finance: Rye Pulls the Plug | 4/30/1934 | See Source »

...months the Federal Government had been unable to make up its mind what to do about imported rye. The Polish Government had successfully stimulated foreign trade by paying a bounty of 30? a bu. to the exporters of rye. Polish grain traders could thus afford to sell it in the U.S. at the U.S. price or less, even after paying the 15? per bu. tariff rate. Domestic rye producers protested that this would be dumping, urged Secretary of the Treasury Morgenthau to use his powers under the Tariff Act of 1930 to raise the duty on rye by an amount...

Author: /time Magazine | Title: Business & Finance: Rye Pulls the Plug | 4/30/1934 | See Source »

...less important a New Dealer than Secretary of Agriculture Wallace, as titular head of the Grain Futures Administration, was Speculator Cutten's inquisitor. The Government's chief complaint was that Speculator Cutten had misreported or failed to report his long and short positions of 500,000 bu. or more, as the Grain Futures Act requires. He had, said the Government, "caused and procured various grain firms and persons, by and through whom his trades . . . were made, to keep false records and to make false reports to the Grain Futures Administration." Covering operations during 1930 and 1931, the charges...

Author: /time Magazine | Title: Business: Grain Goat | 4/23/1934 | See Source »

Through Commercial Attache Maurice Garreau-Dombasle. the French Govern- ment announced that if the wine quota were doubled to 1,568,000 gal., France was prepared to quadruple its U. S. apple & pear imports to 900.000 bu. That seemed fair enough until it was learned that the thrifty French were quietly planning to up the tariff on U. S. fruits. This joker discovered, M. Garreau-Dombasle was required to present assurances from his Government that the fruit tariff would not be raised. He did, and the ratio of the international trade stood roughly thus: Frenchmen would eat two pecks...

Author: /time Magazine | Title: Apples for Wine | 1/1/1934 | See Source »

...Agricultural production costs are highly controversial, vary radically in different sections, widely between adjacent farms. According to the Department of Agriculture, average cost of production of wheat is 75? a bu., of corn 49?, of oats...

Author: /time Magazine | Title: AGRICULTURE: Money to the Grass Roots! | 11/6/1933 | See Source »

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