MAXIMUM WHEAT PRICES

New Zealand Herald, Volume LXIX, Issue 21325, 28 October 1932, Page 7

MAXIMUM WHEAT PRICES

ADVOCATE FOR FIXATION LOWER RATES FOR FOWL FOOD [TIY TELEGRAPH —SPECIAL REPORTER] WELLINGTON, Thursday A suggestion that in return for fixed minimum prices for their milling wheat New Zealand growers should be prepared to fix maximum prices and also to accept lower rates for fowl wheat than for milling wheat was made in the House to-day by Mr. J. Connolly (Government—MidCanterbury} during the Budget debate. "Tho people of New Zealand have guaranteed the growers a minimum price of 4s 4d a bushel on trucks for their milling wheat," said Mr. Connolly. "We growers, on tho other hand, should do our part and undertake to sell our fowl wheat at a lower price than milling wheat. To my mind poultry-raisers have a real grievance in the fact that they have to pay the same price for fowl wheat of a lower grade as they do for milling wheat." Mr. Connolly proposed that if the price of milling wheat was 4s 4d a bushel, first grade fowl wheat should bo sold for 4d less. Different grades of fowl wheat should be examined at Lincoln College, their food values ascertained as so many pounds per bushel, and charges made on that basis. "As the peoplo provide us with a payable minimum price, we should also fix the maximum price," said Mr. Connolly. "Probably the time will come when the world's parity for milling wheat- will rise again to 7s a busbel and there will then be nothing to prevent New Zealand growers from exporting their produce. I think we should fix a maximum of 5s 6d to the farmer and work prices out accordingly. When the sliding scale of duties was first introduced I had the fixing of a maximum rate in mind and I am still an advocate of it." v FOREIGN EXCHANGES FLUCTUATIONS IN STERLING (Received October 27, G. 45 p.m.) British Wireless RUGBY, Oct, 20 The following rates on foreign exchanges are current, compared with the cabled quotations on October 25 and par:— Oct. 26 Oct. 25 Par Montreal, dol. . * 3.615 ' 3.605 4.8(10 New York. dol. .. 3.29} 3.30} 4.866 Paris, fr 83 11-1(5 84 124.21 Brussels, belga . . 23 21-32 23.725 35.00 Geneva, fr. .. 17.07 17.095 -25.22 Amsterdam, fl. . . 8.185 8.195 12.10 Milan, lire ~ .. 65 5-16 (>43 92.46 Berlin, r.m. .. 13.855 13.885 ' 20.43 Stockholm, kr. . . 19.20 19.16 18.159 Copenhagen, kr. . -19.195 19.20 18.159 Oslo, kr 19.65 19.55 18.159 Vienna, sell. . . 28.50 1 28.50t 34.585 Prague, kr. .. 111.25 111.50 1.64.25 Plelsinpfors, mark 230 230 129.23 Madrid, pes. . . 40 1-3 40.25 '25.221 Lisbon, escu. .. 109.50 109.50 110 Athens, dr. . . 575 575 375.00 Rio de Janeiro, mil. 5 9-32t 5 9-32 5.899 d Buenos Aires, dol. + + 47,619 d Montevideo, dol. . 30t 301 51d Bombay, rupee . 18 11-61 1811-61 18d Shanghai, tael .. 2111-16 2111-16 Hongkong, dol. .. 163 16 7-16 Yokohama, yen . . 16.25 16 7-16 21.58 d Belgrade, din. . . 255 250 276.31 -(Nominal. CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced date of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when tho exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*: — Australind, America, dollars . . . . 3.15J Canadian Constructor, Canada, dollars 3.81 Brisbane Maru, Japan, yen . . . . 16»d Golden Cloud, America, dollars .. *3.46 Golden Cloud, Canada, dollars . , *3.84 Niagara, Canada, dollars . . . . 3.78 Hauraki, America, dollars . . . . 3.453 Mariposa, America, dollars . . . 3.393 Canadian Leader, Canada, dollars . . 3.68} TIN IN NEW YORK ' NEW YORK, Oct. 26 Tin (standard), October delivery, is quoted to-day at 22.30 cents a lb., compared with 22.65 cenfs yesterday. SHOW STUD STOCK SALES . The annual Royal Show stud stock sales of Wright, Stephenson and Company, Limited, will be held at Falrnerston North on the morning of Thursday, November 10. At,this salt? they are prepared to purchase notable prize-winning stock to the order of clients.