DAY BY DAY.
The Board of the Commonwealth Bank has been forced Guarantee to decline to finance for the guaranteed price Wheat. of 3s per bushel f.o.b. for f.a.q. wheat provided under the Wheat Advances Act, says a Sydney paper. The reasons are that, by Act of Parliament, the Board must take measures lo protect the bank against loss, and as the guaranteed price of 3s is in excess of the reliable export value of wheat, heavy loss would be inescapable. The successive incursions of politicians into the wheat fields have meant heavy losses lo farmers. Mr Theodore promised them 7s Gd, Mr Fordo guaranteed them 3s, and rashly believing these promises, ihe farmers have again and again missed Ihe market. The next slep will be awaited with interest, because the display of ineptitude in dealing with this matter holds out little prospect of a display of statesmanship now on the part of the Ministers concerned.
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Bibliographic details
Waikato Times, Volume 109, Issue 18256, 18 February 1931, Page 6
Word Count
156DAY BY DAY. Waikato Times, Volume 109, Issue 18256, 18 February 1931, Page 6
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