THE WHEAT RING.
SCHEME THAT FAILED. Received February 9, 10.50 a,rri. LONDON, Fab. 8. The Morning Post's Market correspondent, reviewing the recent wheat (transactions, and recalling famous attempted corners, says that early in 1922 the Canadian and Chicago trusts ugreed to hoi i up wheat to prevent Europe playing one against the other. Australian delegc tions went to America in the endeavour tb arrange a Canadian-Australian-American wheat-holding ring. The scheme broke down so far as Australia was ooncerned, but America and Canada pushed up 1 the prices to 100 s a bushel beforo the Argentine broke the ring. The paper adds: "Australia to-day has the unique surplus of 14,000,000 quarters, but it must be noted that a great political effort is being made before the harvest, not only in the torm of a wheat-ho Ming trust, but to secure Government backing therefor, in order to be able to hold on almost indefinitely and drive up prices to the scarcity level in Britain. —A. and N.Z. cable.
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Manawatu Standard, Volume XLV, Issue 59, 9 February 1925, Page 6
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166THE WHEAT RING. Manawatu Standard, Volume XLV, Issue 59, 9 February 1925, Page 6
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