CANADA’S WHEAT POOL.
Financing Difficult Days. STATE GUARANTEE ARRANGED. (United Press Association—By Electric Telegraph—Copyright.) (Received, February 24, 8.30 p.m.) VANCOUVER, February 23. Following a meeting at Re gina, Saskatchewan with the officials of the three provincial wheat pools of Western Canada, the Premiers of Alberta, Saskatchewan and Manitoba, issued a joint statement that uniform legislation would be arranged covering the guarantee to be paid the banks for their advances to the pool up to the present time, and to adequately finance the balance of last year’s crop. They made it plain that the action was only in order to supplement the undertaking already-, arranged, and not because of any impairment of the Pool’s margin with the banks, as the Pools have at present on deposit with the banks, collateral security and valued at current market prices, at more than 15 per cent in excess of total banks loans to the pools.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18502, 25 February 1930, Page 9
Word Count
151CANADA’S WHEAT POOL. Timaru Herald, Volume CXXV, Issue 18502, 25 February 1930, Page 9
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