CANADIAN WHEAT

Ashburton Guardian, Volume 50, Issue 269, 27 August 1930, Page 5

CANADIAN WHEAT

POSITION OF THE POOL. INITIAL PAYMENT REDUCED. EXPLANATORY STATEMENT. (United Press Association—Copyright.) WINNIPEG, August 25. The Wheat Pool has announced an initial payment of 60 cents on wheat. This is a drop of 10 cents below the initial payment fixed on July 15 and an official statement expressed regret at the necessity for the reduction. It was explained that, in view of serious difficulties in connection with financing the 1929 crop, the step had been taken to avoid a similar situation in 1930. It was realised that many members would feel the payment to be inadequate to meet their financial requirements, but ithe ultimate welfare of members made it vitally necessary that the Pool should take no steps that might endanger the safetv of their organisation. Hope was expressed that business interests would refrain from unduly pressing collections at this time, and it was pointed out that the welfare of the prairie provinces was dependent on the solvency of • the agricultural industry. It was denied that there was any likelihood that the farmers would violate their contracts in order to get present market prices for their grain, and it was pointed out that orderly marketing was the greatest necessity at this time.

A further payment was promised at the earliest date consistent with conditions.