CANADIAN WHEAT POOL

Hawera Star, Volume L, 27 August 1930, Page 10

CANADIAN WHEAT POOL

DROP IN PRICE. SEASON*S INITIAL PAYMENT. Unteit Prees Association —liy h'leotric Ttilttgrapß copyright.) WINNIPEG, Aug. 25. I lie wheat pool to-clay announced a (iO-r cut initial payment on wheat. This is a, drop of ten cents below the in i trait payment fixed on July 15. 'Phe official statement. expressed regret at the necessity of the 'reduction, and explained that in view of _the serious difficulties in connection with financing the 1929 crop the step had been taken to avoid a similar situation in 1931'. It was realised many members would feel the payment inadequate to meet their financial requirements, but the ultimate welfare of members made it vitally necessary that the pool should take no steps that might endanger the safety of the organisation. The hope wars expressed that business interests would refrain from unduly pressing collections at this time, and it was 'pointed out that the welfare of the prairie provinces was .dependent on the solvency of the agricultural industry. The statement denied _ any likelihood that farmers would violate their contracts in order to obtain present market m’ioes for their grain and pointed out that orderly marketing was the greatest necessity at this time. Additional payments were promised at. the earliest date consistent with the conditions.