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Kansas farmers, in the midst of harvesting a record-breaking crop of 200,000,000 bu. of wheat last week, were getting 25? per bu. cash for their product. On the Chicago Board of Trade July futures dipped to 50¼?, the lowest figure since the exchange first opened in April 1848.* Around Hutchinson, Kans. the country was dotted with great mounds of wheat-10,000 bu. to the pile-which had been dumped out of doors for lack of elevator space. At Bucklin, one Forrest Kennett got his name in the papers by scorning a 27? per bu. offer...
...years ago gave up a $50,000 per year job with Fox Film to apply modern industrial methods to husbandry in the Panhandle. Last year smart, efficient Mr. Price harvested 17,000 acres in Deaf Smith, Castro and Swisher counties. Last week he was getting in a 500,000-bu. crop from 23,000 acres. Next year he plans to expand to 30,000 acres. He believes that intensive cultivation and proper use of mechanical equipment should produce wheat at 10? per bu...
...bu. Farmer Price uses 25 combines, all painted a glittering silver and labelled HICKMAN PRICE. Fifty tractors do the heavy hauling. A crew of 250, including mechanics and factory "troubleshooters" keep this mechanical army moving by day, cleaned, serviced, repaired by night. Their sleeping quarters are wheeled about with them from one section of the farm to another. Five motorcycles carry special messengers back and forth across the miles of wheat land with reports to Mr. Price on the progress of the harvest. One hundred trucks haul the wheat to Kress where Mr. Price sells it direct...
...President's words created a temporary political pother. There was talk of legislation to outlaw short selling, altogether. Short-sellers were anonymously but importantly condemned as "hyenas" and "crocodiles." Somebody told the President that shorts were prepared to hammer wheat prices down to 20? per bu...
...grain trade proper, the President's statement brought forth only flat denials. The heads of the Chicago Board of Trade and the Minneapolis Chamber of Commerce asserted their records showed no excessive short trading. Wheat traders attributed low prices to these three factors: 1) the 200,000,000 bu. the Farm Board was still holding over the market; 2) this year's bumper crop, with its conse quent surplus, as reported by the Department of Agriculture; 3) reduced wheat consumption throughout the world because of hard times. Oldtime traders compared the President's outburst to the Secretary...