WHEAT POOL PAYMENTS

Taranaki Daily News, 27 August 1930, Page 11

WHEAT POOL PAYMENTS

CANADIAN ADVANCES LOWER I < ; EFFECT ’OF DIFFICULT FINANCING i MANY FARMERS MAY FEEL PINCH. By Telegraph—Press Assn. —Copyright. Rec. 7 p.m. Winnipeg, Aug. 25. The wheat pool to-day announced a 60-cent initial payment on wheat. This is a drop of ten cents below the initial payment fixed on July 15. The 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 1930. It was realised many members would feel the payment inadequate to meet their ' finaneiaj' requirements,, but the' ultimate welfare of members made it vitally necessary- that the pool should take no steps-that 'might'endanger th;* safety df j the organisation. ■The''‘hope' was expressed that’ imsi-. n'eiss interests would refrain from tin- , duly'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 prices for their grain and,pointed out that orderly marketing was the greatest necessity qt this time. ,

Additional payments were promised at tlie earliest date consistent with the conditions. , *