FALLING PRICES

Grey River Argus, 10 August 1931, Page 5

FALLING PRICES

—--«> — Poo! Principle STILL TO PREVAIL. i.W ‘ Z <flh'r. Assn.) (Received August S at 7 p.m.) OTTAWA. August 7. 31. Be nia.--‘t Prci iL i , f Canada, announced to-day th* l a wheat pool of. throe western pr* vinci •• which own nearly sixteen hundred country elevators. as well as terminals at Vancouver and Fori Wiliam, 'will operate this year in the same way as the privatelyowned enterprises. They will have ample working capital, and the provinces will not be called upon to guarantee their operations, As a substantial number of producers desire to market their grain o n the pool principle, the elevators operated by tiepools in rhe several provinces wi’i afford to such pr» clu -t-rs :h (Htpn ’ funity to have their grain dealt with by operation of a voluntary pool. * The elevators will make to such producers an initial payment of 35 ci-nts per bushel. i - i n the same basis as to cpiality and point of deliveTv as in the previous The Dominion Government will take whatever, action is necessary to ensure flic orderly marker big of the. crop of tiro year. Panic conditions will not be permitted to control the prices obtainable for this year’s grain crop. Cotton Slump AT CHICAGO. LOWEST SINCE 7900. (Aus & ■' Vsn) CHICAGO. August S0, ’• the most ionnl fall ■ in th,, pri.-..- ..f cotton occur-od at the Br::.’ of '?■:(?., ’"lt, to tiny when the 156 poil ot 770 c r.ts nrr bale. T’.‘i. it the 'owe::; iovol for 31 wears. Upon rhe Government rs’imrrte, this --n, - w ;-- 45.55, non bale, if ('32 000 b-’es n 1930, October options e’e-.eil at 684 cents per pound compared with 8.17 centyesterday. German Bid FOll U.S.A. WHEAT. BULK PURCHASE. NEW YORK. Any,; -, s. The “New York Th. :c fagt.n,, <j"-r PTT V, , ' tho Ent A! S-.- i". Tarin Bo ■ ' lav,net. yet rce-ivt-d the G •.-.van <-!Ter !" • ' . bund wheat it Ys nob eon/tiered thgi : 1 ■ term-, will L? acccpUb’, RUSSIAN WHEAT RECORD LOW PRICES. ENGLISH GROWERS NEARLY BANKRUPT. A,is j NZ Cab,. Assn.) (Received August 8. at 5.5 p.m-) LONDON, Augu.-j ’< The wheat su'd at Liverpool to day was disposed of a the lowest prices paid there for 150 years. The f f Daily- Express’ ? a;?-i cultural editor., referring t o th- .fart, declared that the low prices arc largely dm- to there being an economic war declared in Russia. The new se.-is.ri* British wheat is now on the maikc*., and it be'ng under-sold by the Russian wheat to the ex'ent of ten shillings per quarter. The wheat growers in England, says the “Dm.li Fxpre-s,” are literally on the verge of complete and final bankruptcy. The position is so tragically urgent that it can only be remedied by emergency legislation.