CANADIAN WHEAT

Greymouth Evening Star, 11 July 1931, Page 7

CANADIAN WHEAT

DIRECT-SELLING PROPOSALS

OTTAWA, July 10.

Millers and co-operatives in Britain and Germany, are asking that the policy of direct selling, abandoned some time ago by the Canadian wheat pools, should be resumed, so Mr. Andrew Cairns, Statistician for the wheat pools, told the Agricultural Committee of the House of Commons today. He said that most other wheat growing countries were engaging in direct selling. For instance Russia and Argentine, while Australia was more than widening the system. In Europe, Government agencies were being developed for the sale of wheat. Satisfactory arrangements had been made between the wheat pools in three prairie provinces, in connection with financial obligations. Mr. Cairns stated that the pools owed between twenty-one and twentyfive million dollars. In Alberta and Saskatchewan their assets wei e in excess of the liabilities, but in Manitoba the assets were not equal. In all the three provinces, arrangements were concluded bv which the Governments will pav back the money guaranteed to the banks, and get concurrently equal payments from the pools’ earnings and the operations of elevators. This would be obtained without taxation of pool members or farmers generally.

U.S.A. PRODUCTION

WASHINGTON, July 10

Mr. Hoover, to-day, called upon a “limited number of speculators” to stop short-selling in the wheat market. , , The production of winter wheat, as indicated on July 1, is estimated at 712,611,000 bushels, compared with 604,337,000 bushels last year; all spring wheat 156,402,000 bushels; Durum wheat 32,220,000; other spring wheat 124,182,000. All wheat 869,013,000 compared with 850,965,000 last year. Oats 1,360,267,000, compared with 1,402,026,000. Corn 2,967,953,000, compared with 2,081,048,000.