WHEAT PRICE “UNJUST”

Press, Volume LXXXIX, Issue 27051, 28 May 1953, Page 13

WHEAT PRICE “UNJUST”

GROWERS’ CRITICISM COST BASIS SAID TO BE UNREALISTIC The price of wheat announced by the i Government for the 1964 harvest was criticised at a meeting of the electoral committee of United Wheatgrower* (N.Z.), Ltd., which was held yesterday. In making this statement, the chairman. Mr R. T. McMillan, said It was reported i to the meeting that the wheatgrowers’ organisation was not consulted before the Government’s announcement wm made and that United Wheatgrowers did not at any time have the opportnuity to approve or otherwise th* announced prices. Dissatisfaction w»s expressed with the use that was made of the Wheat Costs Committee'* findings on the increased cost of production, which was stated to be for the previous year. After this discussion it wm resolved;— -''That It be a recommendation that the Costs Committee continue to collect information regarding estimated eoats tff growing wheat, but that this information be filed tor its own us* and not for use in any negotiations that may be carried on with the Government on the basjs of costs n b a method of deciding the price to be paid for wheat Th* electoral committee considers the cost basis under present conditions unrealistic and impracticable and unjust to growers.” Mr McMillan reported at length to the meeting on the negotiations leading up to the announcement that th* new price of wheat would be Ils 6d a bushel f.0.r., March Tuscan basis, and then went on to say that "there is, however, a further movement afoot, in that the Government has set up a cr.ucu* committee under the chairmanship of Mr J. K. McAlpine. M.P... and this committee will be meeting shortly to give consideration to wheatgrowing problems. Mr McAlpine ha* by telegram received on Monday of thia week requested us to make submissions to this caucus committee.” INCREASED WOOL PRODUCTION CALL BY CONFERENCE OF BOARDS (N.Z. Press Association—Copuriohtj LONDON, May 28. Representatives of th* wool boards of New Zealand, Australia, and South Africa called for increased wool production at their .meeting in London, which ended today. It was th* sixth post-war conference of the executive of the International Wool Publicity and Research Fund controlling the International Wool Secretariat. The meeting decided that mor* money should be spent on promoting the aal* of wool throughout the world. Mr J. H. Moolman, chairman of the South African Wool Board, was elected . to succeed Mr N. R. Jameson, chairman of the New Zealand Wool Board, as chairman of the executive. The executive thanked sections of the wool Industry, especially in Britain, Germany, France. Holland, Italy, and Norway, for their financial support of the trade promotion work of the secretariat. They hoped there would be »ttll more support in the future. The International Wool Secretariat is to continue to encourage, wool and textile research in Europe, North America, and elsewhere. COMPANY NEWS LATEST DIVIDEND ANNOUNCEMENTS Alex. Harvey and Sons.—Final dividend of 5 per cent., plus a bonus of 2} per cent; total 12J per cent, for the year. Books will be closed from June 12 to 16, inclusive—ex June 12. Woolworths, N.Z.—lnterim dividend of 5 per cent., payable July 31, books to be • closed June 19 to 30, inclusive —ex June Woolworths Properties, Ltd.—Half- , yearly dividend on preferred ordinary stock, 3 per cent.,, payable July 13, books to be closed June 19 to 30, Inclusive—ex : June 19.

A. S. Paterson and Company.—Final ordinary dividend of- 3 per cent., plus a bonus of /Ji per cent. <74 per cant, for the year), and 2J per cent, preference dividend (5 per cent, for th* year), payable June 17—ex June 17.

Chas. Begg and Company.—Dividend of 81 per cent., payable July 1, hook* to be closed June 15 to 30, inclusive—*x Jun* 15.—(P.A.)