CANADIAN WHEAT HARVEST

Dominion, Volume 23, Issue 7, 3 October 1929, Page 11

CANADIAN WHEAT HARVEST

MOVEMENT OF GRAIN AT STANDSTILL

HIGH PRICE RESTRICTS

business

(United Press Association.— By Hlectric Telegraph.—Copyright j Australian Press Assn.—United Service.

(Rec. October 2, 7 p.m.)

Winnipeg, October 1.

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 the president (Mr. E. W. Beatty), of the Canadian Pacific Railways, says: "The difference In 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 purpose. British and Contlnental buyers, on the other hand, believe that they can obtain their present requirements from Argentina and the United States, and that it is unnecessary in the meantime to purchase Canadian wheat at a higher price.” 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 have plenty of space to spare. Montreal has fifty-one vessels from the Lakes in port to unload, with the harbour elevators practically filled. Orders for trans-Atlantic shipment are rare. Shipments of Canadian grain from Montreal are only 46 per cent, of the amount shipped this time last year. Sales of wheat to Europe could be 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 the Canadian Wheat Pool, on Tuesday. The world situation justifies higher prices than are at present ruling he said. Although the Wheat Pool authorities are silent regarding the coming conference in London with Mr. J. H. Thomas, it is known that the bulk purchase plan which Mr. J. H. Thomas announced at Brighton on Tuesday is looked on as a last means of solving the troubles arising from Montreal congestion. The suggestion follows Canadian disapproval of Mr. Thomas’s suggestion of storage elevators in Britain.