THE WHEAT SUPPLY.

Press, Volume LX, Issue 18228, 12 November 1924, Page 10

THE WHEAT SUPPLY.

WORLD - SHORTAGE FEARED. (BY .CABLS—FBRSB ' ASSOCIATION—COPTBIOET) (AUSTRALIAN AND K.Z. CABLE ASSOCIATION.) • LONDON; November 10. "Wheat; rose 2jd at Liverpool to-day making, .an advance of 8d since Wedr nesday last., A serious world shortage of wheat is now feared. If the drought, continues in the Argentine the crop will be considerably less than the estimate. .The Australian crop has been _ damaged by heavy rains, and th? "" Canadian crop lias been adversely affected by frost. . LONDON, November 10. Liverpool, futures, December, are quoted at 13s OJd, iu spite of the advance of sterling. Cargoes are firm oh ; continued Canadian and American strength,, and. quotations advanced Is to 28. Sales were made of JanuaryFebruary shipments at 64s 13d, 64s ■6d, and 645. Parcels are in fair speculative demand at 6d to Is 6d advance. Quotations—Australian due 635, November 63s fid, December-Jan-uary 63s 6d, 63s 9d, 63s 3d. (Received November llth, 8.40 p.m.) NEW YORK, .November 10. Chicago wheat quotations are:—December 153J cents per bushel, May 160 cents, July 140 cents. WEMBLEY EXHIBITION. (BY CABLE—i>REBB ASSOCIATION —COPYRIGHT) (BEUTEB'B TELZOBAMS.) „ LONDON, November..-11. Mr Baldwin, speaking at the GuildMl), said it was not intended that .Wembley should come to an untimely end. The Government would provide fresh , and sufficient guarantees if supported by the other parties concerned. (Received November llth, 10.15 p.m.) November 11. Tlie I 'newspapers favourably; Mr Baldwin's- pronouncement, regard- 5 ing Wembley, which is interpreted to " mean that the Exhibition will continue k in 1925. BUTTER PRICES REDUCED. (by cabls—palgs , assootatiok— copybight) * AND X.Z. CABLE ASOOCIATIOW.) \ MELBOTJNE, November 11. The price of butter ; has been: reduced .< byJSi perfewtj retail price Is v-6id jp6r' lb. ■■'''■■ v • STERLING LEAPS. NEW YORK,-November 10. Sterling staged one of the most sensational advances since, the war. The price leaped 3$ cents to 4.625. ."7 , .(Received November llth, 8.40 p.m.) NEW YORJS, November. 10. : :'i'; Late this afternoon ;sterling reached ;'f4 dollars 62} cents,'a record for over a year owing to' continued American 'buying of sterling. . ' >", •' '• '' v -r ■ •' v|;'^Vv 7 :'-y ; '• / ' 'PAPER MAKING. ,TASMANIAN. SCHEME. CAPITAL OF £3,000,000. } •f' - (reoif ova owir cobbbspondemt.) ' , > ' SYDNEY, November 5. It practically certain that I apother industry will shortly be ' smarted in T^sinania, 1 attracted thither immense hydroelectric underth?t, the;State'' has,boldly estabTlie iproject is\the manufacture pulp from Australian timbers, iiuforfiy Amalgamated ■' -Zikio <?ompany proposes -to tiirn its attention.'' it is*explained^that the.Amt - aigamated- ZinqiOompany has s in sight i ihe terjninaticn of its work at Broken I ti&d.'the' directors* and shareholdera" ot thV company' determined to keep I tho excellent organisation their t)os4 alive, and to seek a new line_ of industrial activity in - which to employ its' 'organisation and 'the capital which it? has available, rather than to uia,"burse, the latter among the shareholders," , Iphe directors of. the company i a large number' of enter- " prises', after' the most careful in■J vestagation have t; determined that the ■| ohe 7 >in which they ■ can feel absolutely I/certain of technical. and commercial ttuqcegs is.the manufacture of_paper from AuAtyalita-grQ^n.timber s." In associar ". tioit,' with" the' Bureau o& Science and .*>: exhaustive experiments' have ' b&fiVc&rried r out,, not only in, regard to , hardwood and softwood, t \ but; ■ also by the .Use of hardwood < puk> ,t-Tdy. and Jt has now oeen demon- • ajrr excellent newsprint of good Equality, ; J.: fMCTSe4%om v 100?' per.dent.dent b hardwood 1 i cdnipany h&s "* made' arrange■yx xrwuts with, of'/very ? large ? > ;are«s of? suitable taiiber jat Hills, ecuth of Burnie, and elsewhere.

and also for statable factory sites, and has during "'the 'past few weeks conduced, ,with the Government on the preliminaries necessary for the drafting of an Enabling Parliamentary Bill. In the meantime one of the ' and on arrival the 'whole pnjjeot will be tested out on a commerciaj scale-in association-with one of, the British' paper manufacturers, and it is expecteathat within a few months financial arrangements will be made which -will" result, in the establishment cf this extremely important .industry in the ztogth-west of Tasmania. The completed industry Will in all probability insslve *a-capital expenditure of nearly ■jtiutoe million sterling, and the employvmerit of apprctrimately 1000 hands. The pritfer requirement of the undertaking "SmB 1 in-vdve about 4000 h.p. to start with, and the'indications are that an additional ,4000 Jo.p. will be required year or two, and, that theres. gper-.the growth in power requirement will be contingent upon the rate of det&lopmenjr of,the industry." >Mr Butfers,- the general manager of J the J . Tasmanian Hydro-Electrio Depart-, niorit proposes.to meet the power demand by supplying the 4000 h.p. 'iffirongb a r transmission Jine from WadJd\amana via Cressy. As to requirements over and above the figure, surnow being made on the Arthur 'Jlttiver with a view of determining what done at that point. The indiAre at a. very satisfactory sexists there, and Mr llllj&ters has little doubt that it will be v^aiv Btart on vthe,. construction the next year.'