BULK PURCHASE

Grey River Argus, 1 April 1932, Page 8

BULK PURCHASE

GREEK WHEAT SUPPLY. U.S.A. FARM BOARD WANT CASH. (Ans. & N.Z. Cable Assn;. WASHINGTON, March 30. If the Grecian Government wants to buy seven million bushels of wheat from the Farm Board, it will have to pay cash. Indications that such a deal is imminent found no strong foundation here at the Farm Board. The only comment was “cash—no credit.” The Greek Ministry has not presented an offer to the Board since December. Greece, on Tuesday, announced new decrees placing an embargo on Canadian, Argentine and Australian wheat imports, as a preliminary to the possible re-opening of negotiations with the Board. When Greece first talked of purchasing wheat here, the Board was willing to consider a credit arrangement. Since then, however, the Board’s Treasury has been further diminished to a point where it cannot undertake long-time financing. Administration leaders, meanwhile are seeking a hundred million dollars appropriation to finance foreign sales, particularly in now markets, such as the Orient.