WHEAT POOL MAY BE ESTABLISHED.

Star (Christchurch), Issue 18466, 18 May 1928, Page 11

WHEAT POOL MAY BE ESTABLISHED.

FARMERS’ UNION WILL DISCUSS FORMATION. The formation of a wheat pool will, as a. result of a recommendation from the Wheat Committee, be considered by the various branches of the Farmers’ Union during the next fortnight, and at the conference of wheat-growers to be held at.Ashburton on May-31, a suggested constitution drafted by the Wheat Committee Will be discussed. The committee, which has been assisted by growers in Rangiora and North Canterbury, and by individual wheat-growers in Canterbury and North Otago, has made the recommendation after giving the question of the formation of a pool for the collective marketing of wheat full consideration.

The proposal of the Wheat Committee is that a monetary pool be established, the organisation of which would be on the following lines:—A non-profit co-operative marketing company to be formed, with a capital of £50,000; only wheat-gfrowers being eligible to hold shares, every member to sign a contract to sell his wheat through the company for a period of five years, except what he requires for his own seed and feed. The* contracts would allow members to withdraw if, say, 120,000 acres were not signed up by a certain date.

The control of the association to be directly in the growlers’ hands by the following method : The wheat-growing area to be divided into four districts—(l) North of Rakaia, (2) between Rakaia and Rangitata, (3) between Rangitata and Waitaki, (4) south .of Waitfiki.

The number of directors to be seven, and to be elected by an electoral committee consisting of ten delegates, elected by each of the first three districts, and five from the fourth district. Election by pdstal ballot on a basis of one member one vote. The management of the company’| business should be controlled by the directors, who would appoint as manager the best man available in the country. It is estimated that the first for members’ wheat would be made within twenty-one after delivery, and would be about two-thirds of the price obtained by the company; subsequent payments being made as sales were affected, and the final payment, about the end of the year.

At the conclusion of decisions, the committee stated that it has no desire to proceed with the scheme unless it were sure of the hearty support of the growers; that it was satisfied, after an exhaustive study of the situation, and partictxlarly in view of the experience of the last two seasons and the announced intention of the millers to buy at an agreed price, part of next season's requirements, that growers will never get the value of their products while there are thousands of sellers and practically one buyer. Copies of the proposed draft constitution have been circulated among the various branches of the Farmers’ Union for consideration prior to the conference. •