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IQA--Sept. 10, 1972 Sunday Gazette-Mail Butz Denies Soviet Grain Deal Exploited Â© ,vS 5% SfsLic, 'If Â±TMS!? n I''""i ! ha '.' h 'iTM ?*"Â·' h TM"? J^BM^H . * Â«Â·* s-prise, as Btt, ac-^being priv, to in Â»de Â»fo, By E. W. Kenworthv .with the cooperation of the Nbc- that the grain dealers, through i o n administration, had used! inside information, were able question their "inside information to ex-! to get windfalls by buying large grainj p i 0 i t that (grain) deal to the companies reaped sizable wind-! disadvantage of both the Ameri . T O M rivr\fitf fi*n*iA *U-Â» D -- .-I-^i 1 7 CÂ« 1 __ r ' i Â· Â· . of whether a few : v**-7nw Â» Miiio^t ui u u i u lilt: r\iilcl I" fall profits from the Soviet-U.S.jcan farmer and the American grain agreement gave signs Sat-itaxpayer." urday of erupting into a major! McGovern's charges echoed presidential campaign issue. those made over the last few At a hastily summoned 9 a.m. days by the National Farmers news conference, Secretary o f j Union, the Consumers Union Agriculture Earl L. Butz vigor-JRep. Benjamin S. Rosenthal, D ously attacked Sen. GeorgejN.Y., and Rep. Graham Purcell M e G o v e r n , the Democratic !D-Tex., as well as disgruntled nominee, for saying Friday in i farmers in the Midwest and Rockford, 111., and Superior, i Southwest. Wis., that the grain dealers,! The sum of these charges is windfalls by early wheat and placing future orders at prices considerably below what they would LEARN TO EARN With America s Largest Tax Service HR Block. JOB INTERVIEWS AVAILABLE fOR BEST STUDENTS HR Block. (OPEN HOUSE SUNDAY) CUSSES START Mendoy Tuesday f JÂ° r !"'Â°" 346-9435 Nitro 755-2812 1586I.WÂ«h.St. 25001jl*ve. INCOME TAX 1 C O U R S E Â· Included currtnl lax liwi. thtory. Â»nd application n practiced in Block of- fkM from coatt lo coitt. Â· Choice ol baiic or advanced count. Â· Choice of dayi and clait timM. Â· Ctrtificale awarded upon |raduation. ENROLL NOW! CLASS LOCATIONS: CHARLESTON HIIRO S MONTGOMERY be after the extent of the Soviet p u r c h a s e became known. U was also charged that another windfall had been made by a special export subsidy price lasting front Aug. 25 to Sept. 1. Finally, it was charged that all this had been facilitated by a shift of personnel back and forth between leading grain companies and the Agriculture Department. Butz said Saturday that McGovern's charges were "entirely without any substance." He accused McGovern of "engaging in another political flight of fancy" and "jeopardizing a trade .hat is of great benefit to the nation." The agreement provided thatlP r ' ce EARL L. BUTZ Farmers Will Benefit To their surprise, as Butz acknowledged Saturday, the Soviet Union has purchased an estimated 400 million bushels of wheat, and their total purchases are already about $1 billion- four times the obligation. * * Â· REFERRING to the wheat purchases, McGovern said that the grain exports, with foreknowledge of Soviet intentions, had bought wheat from "many unsuspecting farmers" in the early-harvest states of Texas, Oklahoma and Kansas at about 31.3B a bushel. These farmers, he said, were "unaware that if they held their production, prices would rise to current levels (for farm sales) of around $1.65." Conceding that some farmers may have sold wheat at prices around $1.32, Butz insisted that ;he Soviet Union would purchase 'rom private U.S. grain dealers 750 million in grains over three years, with $200 million worth purchased the first year. The Jnited States would extend a ane of credit up to the amount of the total purchase. The U. S. Government role in the agreeement was limited to the extension of credit and the payment of an export subsidy to the grain dealers of the difference between the higher domestic price and the going export *** Â«*Â·Â·Â·%* vj-.tyi,, XJLII-/J Jjioioiitaj tfiicii/ wheat, under prov they had not been penalized by not being privy to inside information. "They knew precisely las much as we knew," he said. "They teew as much as the grain companies." F u r t h e r more, 'he said, the farmers as a whole would benefit by the increase in domestic and world prices generated by the deal. In fact, he said, "it has increased the value of farmers' crops by nearly $1 billion." McGovern also suggested that the exporters had made a second windfall through early placement of orders for future delivery at prices that would turn out to be considerably below domestic prices in late summer. Mountain Miner A Personal Treasure \_ This is a West Virginia Miner, sculptured from West Virginia Ccal, produced in a West Virginia town and offered for the fifsr time by this mail order service. This 8 inch character mounted on a walnut base reveals a time, a place and a way of Ih'e rapidly coming to an end. Supply is limited. Gentlemen: I would like to order. miner(s) at $6.50 each. Name Address .City Sta te . Make check or M.O. payable to Korvette Corporation and send to P.O. Box 4212, Charleston W. Va. 25304. _Zip Code sions of the charter of the Com modity Credit Corp. At the time of the announc ment, Butz indicated 1 that h expected much of the purchas would be in feed grains to en ble the Soviet Union to meet i five-year goal of a 25 per cen increase in protein consumption Despite reports of a poor Sovi= winter wheat corp because o extremely cold weather and 11 tie snow cover, U. S. negotiatin officials apparently did not pect large wheat purchases. 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