Under pressure from cotton mercers who protested that the Government's cotton holdings acted as a "cloud" over the market, the Federal Farm Board last week announced the coming of a cloudburst. During the year beginning Aug. 1, the Board will dispose of 650,000 bales of cotton, one-half of the amount it bought from the 1930 crop at an average price of 16.3¢ a lb. It will be the first real sale made by the Government since it began trying to peg cotton prices. Since cotton sold last week at 6¢ a lb., and...
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