CONTROL IN CANADA

Evening Post, Volume CXX, Issue 6, 6 July 1935, Page 9

CONTROL IN CANADA

GOVERNMENT SUPERVISION

THE BILL PASSED

United Press Association—By Electric Teleera ph—Copyright. (Received July 6, 10 a.m.) OTTAWA, July 5. The Government Bill ' creating a Wheat Board passed the third reading in the House of Commons last night, and was then passed by the Senate with minor amendments, including the deletion of the words "as speedily as possible" in the clause relating to sales o"f accumulated stocks. The Bill as passed provides for no interference' with the existing grain trade, except in the case of its failure to function in the interests, of the country. ■ , ) The passage of the measure means no change in the wheat policy hitherto pursued by the Canadian co-opera-tive wheat producers under the direction of Mr. John I. McFarland-. The Prime Minister, Mr. R. B. Bennett, informed the House of Commons that the Wheat Board will be under the control of the Government. l NO DUMPING POLICY. The board will take over holdings accumulated during the past four or five years by Mr. McFarland, general manager for the , Central Selling Agency of Canadian Wheat Pools, in stabilisation operations, and will sell them, having regard to economic and other conditions. It will also set a minimum price and buy wheat only from farmers dividing the profits among them at • the end of the crop year and abolishing the Government "hedging" policy on the Winnipeg market. The Prime Minister said he had no idea at the moment what price would be fixed for the initial payment. They must consider world production, European demands, average production costs, and the exchange level, but the board would not launch a dumping policy to liquidate at fire-sale prices holdings inherited from the McFarland stabilisation agency.