WHEAT PRICES
Market Gambling Condemned
By Telegraph—Press Association. AUCKLAND, June 28.
A prophesy tliat tlie day is not far distant when tlie world's wheat, prices will be decided “not in bedlam on tlie Chicago Wheat Pit” but by some international tribunal, was made by Mr. J. B. Stratton, one of the biggest wheat growers and sheep breeders in Australia, in an interview today. “The present system of arriving at tlie price of wheat is iniquitous,” lie said. “It is controlled by speculators in tlie wheat pit whose only knowledge of tlie grain is its relation to dollars. A visit to the pit was a revelation to me. Gamblers appeared to go beserk.”
Mr. Stratton contends that the price of wheat must be stabilized in the interest of both tlie consumer and tlie producer. It was all wrong, lie said, that gamblers should be in a position to semi prices soaring or lie capable of an enormous downward thrust —to below production price. Tlie time had come for an alteration of tlie system and there was a strengthening opinion abroad that stabilization was at hand.
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Bibliographic details
Dominion, Volume 32, Issue 232, 29 June 1939, Page 10
Word Count
184WHEAT PRICES Dominion, Volume 32, Issue 232, 29 June 1939, Page 10
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