WHEAT SUPPLY

Southland Times, Issue 17938, 18 May 1917, Page 5

WHEAT SUPPLY

THE AUSTRALIAN PURCHASE. (Per United Press Association.) r— WELLINGTON, May. 17. Cabinet considered the question of the wheat supply, and afterwards Sir Jaa. Allen stated that the news from Australia that the Hori. W. D. S. Mac Donald had completed the purchase of 1,500,000 bushels was pot authentic. The actual fact was that a cable was to be sent to Mr Mac Donald that evening, and the bargain would probably be completed In a day or two. The wheat was being purchased to make good the prospective shortage which, at the present rate of consumption, must come upon us before next harvest. Some New Zealand millers had plenty of wheat, for their requirements, but many were already short. The price to be paid for the Australian wheat was higher than the Government expected to pay, but it was calculated that millers would be able to sell flour from it at schedule rates, except at the wheat ports of the South Island. If the new wheat was landed at Auckland it would be loaded with carriage from Australia, but not if they paid the usual frieght from Lyttelton.