SURPLUS WHEAT AND STANDARD QUALITY

Evening Star, Issue 21725, 21 May 1934, Page 7

SURPLUS WHEAT AND STANDARD QUALITY

ANNOUNGETOST BY PURCHASE BOARD "BAKIBfi SG9BE" SYSTEM REJECTED The Wheat Purchase Board makes the following' statement to-day:— The Wheat Purchase Board has given full consideration to the question of taking over the surplus.wheat for the season, and the' fixing of the standard .sample. Close on five million bushels now season's L'.A.Q. milling wheat has been taken delivery of and paid for by the various millers throughout New Zealand to date, and this compares favourably with last year's purchases and sales. A preliminary standard sample has been adopted, and the bulk will now be made up to provide for distribution of samples overseas and locally. 'The work in connection with the" making up of the' standard has been- given close attention by the board's officers, and has entailed sampling of a great many lines of wheat ui all districts. 'The sample is representative of the quality of the season, and conforms to the description of I'.A.Q. milling wheat as laid down in the Wheat Board regulations. There has been some suggestion by farmers that the board has in some way tightened up the grade this year, but this is not so. The weight per bushel and the general description of the sample is the same as that which has operated in past years, and which by experience has proved satisfactory. The board is unable, and considers it most unwise to attempt, to lower the grade below that described in the regulations, ft has been suggested that 611 b bushel weight might bo lowered, but 611 b is the generally recognised weight, and there is no difficulty in securing wheat to comply with that condition. Some wheat may be lower than the standard, but that is due to the vagaries of the weather in the same way as in any other season. Apparently the moisture content oi wheat generally is higher than last year, but when wheat is rejected oil account of condition and any dispute, arises,'the matter will bo decided by a test of 'the moisture content, and the maximum allowed shall be 15 per cent. Some discussion has taken place amongst growers, regarding a suggestion that the system of grading in force for so many years should now be abolished, aud a new system established of buying and selling "wheat on what is called baking score. The board is fully conversant as to what this means, 'but it is of opinion such a change would not be in the best interests of growers. It must be remembered also that from the board's point of view it is obvious that any departure from the present grading system would make it impossible for the board to deal with overseas buyers, as was necessary last year and may be again this year. The grading of wheat in New Zealand fol= lows closely the method adopted all over the world, which has been found the . only satisfactory method for general trading purposes. Jf New Zealand were to adopt a system of buying and selling wheat on what the resultant bread quality proves to be, then it would mean a most complicated and expensive organisation being brought into existence to deal with the problem, and would make sales overseas almost impossible. The Wheat Research Institute carries' out a most valuable work in testing out qualities of wheat, which in turn gives the miller a good indication as to how he shall blend the various lines of wheat so as to mill the best quality Hour. This, however, is finite u different matter from buying all wheat "on baking scores. Amongst other things, the new system would mean that special safeguards would have to bo applied in the drawing of •the samples in farmers' paddocks, so as.to ensure the delivery of the same wheat as the test represented. The wheat in one paddock will at times differ considerably in baking score from wheat in even the next paddock. Also the baking score will differ as between wheat just threshed and wheat left in the paddock for a few weeks, and so on. It may be that m the years to come some really satisfactory method may be evolved for the buying and selling of "wheat on purely a, quality basis, but that stage has not been reached yet. Already arrangements have been .entered, into, for the purchase by the board of a considrable quantity of surplus wheat, and this will be placed in suitable stores during the next few weeks. ■ * The board desires to impress on farmers who still have wheat for sale, ,t!ie great necessity there is for making .•aire that the wheat is in dry condition before being delivered. It is really a simple matter for the farmer to make himself reasonably safe in re-, gard to the condition of his wheat. If ho. has any doubt about it, be should send n large sample in a sealed tin to the .Wheat 'Research' Institute, Christchurch, and ask it for a moisture content test, and advice as to whether the wheat is in fit condition for delivery or not. By doing this before any expense is incurred, the farmer can make himself reasonably .secure that the condition of the wheat will not cause trouble. The board is of opinion that this question of the wheat being properly dry is really the •most 'important one to-day affecting farmers who still have to deliver wheat. The grower should not allow himself to be responsible for any expense without taking'simple precautions for finding out whether the wheat is in condition or not. It must be remembered that soft wheat weighing now, say. GOIb to 60*11) per bushel, will in manyeases when dry weigh Glib or slightly over. RECORD RESULTS IMPERIAL CHEMICAL IHDUSTRIES Imperial Chemical Industries reside--; for 1933 constitute a record in the history of the company. The company's gross income for 1933 amounted to £7,663,945, which compares with £6.415,423 for 1032. The sum of £1,000,000 is allocated to obsolescence and depreciation, and £602,340 to income ta?c. leaving a net figure of £6,001,005. The previous highest net figure in the company's history was £0,780,203 in 1929. A final dividend of 5 per cent, is to be paid on the ordinary shares, bringing the total up to 7£ per cent., which compares with 6 per cent, for 1932. and a dividend of 1 per cent, is declared on the deferred shares, which have received no dividend since 1929. One million is placed to general reserve, which compares with £500,000 for 1932.