CANADA'S WHEAT

Evening Post, Volume CVIII, Issue 82, 3 October 1929, Page 9

CANADA'S WHEAT

HELD FOR HIGHER PRICE

CONGESTION AT PORTS

Australian Press Association—United Serrice.

WINNIPEG, Ist October. The movement of grain from Western • Canada is practically at a standstill because of the.congested conditions at'the head of the Great Lakes and Montreal, owing to lack of European orders. A joint statement of the president, Sir Henry Thornton, of the Canadian National Railways, and President E. W. Beatty, of the Canadian Pacific Railways, says: "The difference of price between Winnipeg and Chicago is largely due to the opinion of owners of grain in the West that the high quality this year justifies a' higher price, and that as there is sufficient storage in Canada, it is being held in reserve for that purpqse. British and Continental buyers, on the other hand, believe that they can obtain their present requirement!) from Argentina and the United States, and that..it,is unnecessary in the meantime to purchase Canadian wheat at a higher price." I Both railways on Tuesday effected a restriction of car supply for Prairie [grain consigned to the head of the Lakes, where the elevators are practically filled, while the interior elevators havo'plenty of space to spare. . Montreal has M ty-one vessels from the Lakes in port to unload, with the harbour elevators practically iillecl. Orders for trans-Atlantic shipment arc rare. Shipments of Canadian grain from Montreal are only -16 per cent, of tho amount shipped this time last year. The sales of wheat to Europe could bo effected at the present time,- but only at the cost of a serious reduction in farm income and restriction of Canadian business for the- coming year, stated Mr. E. B. Ramsay, general manager of tho Canadian Wheat Pool, on Tuesday. Tho world situation justifies higher prices than at present ruling, he said. ■:

Although tho Wheat Pool heads are silent regarding tho coming conference in London with Mr. J. H. Thomas, it is known that tho bulk purchase plan which Mr. J. H. Thomas announced at Brighton on Tuesday is looked on as a last moans of solving tho troubles*arising from Montreal congestion. Tho .suggestion follows Canadian disapproval of Mr. Thomas's suggestion of storaee elevators in Britain. s