CO-OP BUYING

Grey River Argus, 5 February 1930, Page 5

CO-OP BUYING

FOR BRITAIN’S WHEAT Important Scheme (Aus. and N.Z. Cable Assn.) (Received February 4 at 10.15 p.m.) LONDON, February 4.

Mr Wise, a member of the House of Commons, is understood to have a draft scheme for thfc bulk handling of Empire products, which he unfolded at the Royal United Service Institution. The plan is for the stabilising of British wheat prices. It is suggested that the whole purchase of foreign wheat should be controlled by a statutory corporation, with monopoly powers, the capital being guaranteed by Parliament. It would invoice grain to the millers on the basis of prices l to be notified well in advance, and so calculated as to cover the costs after the provision of proper reserves. There is an understanding that the corporation would endeavour to make bulk contracts. The Empire’s centralised co-operative selling organisation claim that the scheme would bring the price of British home-grown wheat to a nearer relationship with world prices.