WHEAT MARKEETING.

Manawatu Standard, Volume LI, Issue 182, 4 July 1931, Page 8

WHEAT MARKEETING.

- « MANITOBA POOL. Received July i, 12.5 p.m. V.T-VNiPEG, July 3. J At a meeting cr tvo hundred Iseal; j aest-dstic-n delegates here today, the ; Premier, Mr J. Bracken, announced that a continuance of the co-operative ; elevator system of the Manitoba V« neat Pool was'the desire of the Provincial Government. | Plans for a reorganisation cf Manitoba Pool Elevators. Limited, were outlined by the Premier as veil as the financial situation confronting tne wheat pool. Mr Bracken announced that the Government agrees to settle vntn the banks ■ the liability cn the guarantees for the ' 1P23 crop payments in cash, or cther- • vise the province vdi vrtte on a mii-i t iinn dollars of farmers' liability on guarantee, thus brin gmg tne loss or ;the wheat pool members to the actual i amount owing by tne elevator assoc-ia- ■ cions. The Government will reduce the I rate of interest from seven to five per cent, vith a reduction of indebtedness. This —ill mean a saving to the wheat pool members c-f 60.000 dollars a year. The local associations will be given; ' ten years to repay the balance owing • fcn their respective units. The reorganisation of the beard of j directors is required by the Government. ( A new board would he appointed to in- \ elude two Government representatives,; who vould have power to veto in ail; matters of money expenditure. | |