THE WHEAT POSITION.

Press, Volume LXI, Issue 18406, 12 June 1925, Page 10

THE WHEAT POSITION.

FARMERS' VIEWPOINT. An interesting discussion on the proposal to establish an organisation to control the marketing of ■wheat took place at the annual conference of the North Canterbury branch of the Farmers' Union yesterday. The following remit on the matter was brought forward by Mr W. W. Mulholland on behalf of the executive: —"That in the interests of the agricultural farmers it: is-essential that some kind-of organisation should be set up to collect and provide information for, the farmers in connexion with the pros : pects of' grain growing, and to assist them in the marketing of their crops."

The remit was considered along with the following from the central body: "That sonio contribution should he made by the executive, to the salary of an official to investigate: (1) The statistics of the crop production of the wheat-growing counties, and the prices of .cereals,, flour, and by-products; (2) The demand in New Zealand for cereals, peas, linseed and grafss seeds, and the amount of such produce imported into New Zealand; and (3) The publication weekly, of results of sales of such produce, and the market values of the same." ,

This last remit, however, was finally dropped. Speaking to tho remits, Mr Mulholland said that there were limits' to what a marketing organisation could do in securing ' increased '. prices. Quite possibly these limits could be exceeded by individual marketing, but in. most cases the limits Were* not even reached. It was the duty of- the Association to see that the market had a, natural supply and no more; than that. Speaking of the .Association, he Baid it should embrace as far as possible all wheatgrowers. It power to step in and stabilise.the market, but the very fact of its existence in itself would go a long way towards' this end. They should not forget the consumption side of the market, he said, and in that respect they had had a very sharp reminder in the caso of the slump in wool values. At the present timenvool should be bringing famine prices. ■ . Mr A. M. Carpenter 'seconded the remit.

The chairman stated that it would be very difficult to get a Government to give power to any such .organisation as that suggested.arbitrarily,to fix the price of a commodity to the advantage of the seller and the disadvantage of the consumer. To form an Association, they must have 55 per cent, of the wheat-growers behind them. Could this bo done, he did not think that those outside the 'Association' would remain non-members very long. He suggested that the first remit be altered to read that the organisation set up should bo on the lines suggested in the report of the Wheat Conference. The chairman's suggested amendment was agreed to, and the amended remit carried.

Mr. B. T.; McMillan read the report of the recent Wheat. Conference, at which it;was proposed'that a.further conferenee. on jthe-matter should be called in ■thofuture. :.':.:

The president and Mr Carpenter were appointed-to represent the North Canterbury branch at the conference to bo held in connexion with the marketing of- wheat." ■"'' ■•■'"■■'■ ?■ ■■'' ; ' ; . .'w ...• '

FARMERS , FINANCE. THE QUESTION OF MORTGAGES. Speaking of farmora' finance in. the course of his presidential address' at tho annual conference of the North Canterbury branch of the Now Zealand Farmers' ;Union. yesterday, Mr J.' s D. Hail said it was, necessary' that some: consideration'should be given in the future to the matter of the rnbhey available, in New . Zealand, for farm. mortgages, the rate of interesjb at which such money ..could'b'ev borrowed .and the method of repayment of the same. Any increase in rate, of interest on'fami mortjgages increased the cost of prbducins everything that wont off the farms and tended to restrict; enterprise and lessen output in addition ;• to depreciatingthe'nraluo of farm land; in-iact art faidditioriof .one per .cent, in the rate of r mortgage, interest, meant a rent of 3s 6d to-4s 6d per acre;oh farm land, of average value. During the last six years there had been advanced on mortgages in New Zealand an average annual amount of £38,848,000, of. which 55 per cerit.,;0r,£21,866,40(),;was advanced on farm mortgages and the'prohldm was ;to ascertain the; best method of makihg these : farm, loans popular and attractive to; investors.

''After dealing with the of increased etc.,; he said that; legislation l hatl gone far enough in connexion with the. protection conferred by the Moratorium, and after the opporr turiity; had .been given to mortgagora to have any hardships investigated by the Supreme Court, it; was unreasonable to expect that any further legislation was required unless it; were for the, purpose of dealing with, nbme" of tht3 anomalies in the' Acts which prejitdiced the mortthan/tho rnoitpagors^' ,:■; It was coiitendedthatthe State Advances Department- provided; tho best method of providing money for farm mortgages.- but-the;fact* that it only provided jess than -£5,000,000 per 1 annum when the farmers annually required oyer £2l,ooo,ooo.indicated that without further substantial borrowing outside New , Zealand, there was no reasonable; prospectv/ he . beins able to providecthe money required.

NEW SOUTH WALES SUGAR. RECORD HARVEST EXPECTED. There is-every prospect of a; lecord yield of sugarcane oajho Northern- New South .Wales, nvera thiß. .season, and .early ;preparations are being made in the nulls' and on-tho plantations to'deal: with the heavy crop. Tho-cane made ■, good .growth during the Bummer,, and the abnormally/ heavy rains during tho autumn. proved -no detriment.to'tha crbpß. On. tho Lower Clarence a yield; of between 80;000 . and 90,000 . tona is anticipated, which is easily a record for the river.-''

Cutting will commence towards the end of Juno, and arrangements are now being.made with the cutting gangs. The three farmers' organisations—the' Farmers' and Settlers' Association,, the Primary producers'. Union, and the United- Cane Growers' Association—havo conjointly, appointed., a sugar executive of seven members who wul 'control, the operations as. far oa.growers are' concerned. There appears to.be an ample supply of labour, available, and no difficulty ib expected in engaging men at about the same, rates, as those of last season.

The Lower Clarence is enjoying what many regard aa the most prosperous saason for many years. The heavy sugar crop is expected to prove of immense ' assistance ta the who'.o district. 45ALE OP FURNITURE. " Jones, MoCrostie Company, Ltd.. held a successful clearing sale of, furnishings in their rooms yesterday. Amongst the various articles cold the following >nees were realised:—Duchess* chest £5,=6. dining chairs £3 15s, 4 dining chairs £4> 4s, club, chair.£T, mission couch £» 15s, office tablo £4 2s 6d, Morris chair -£3 Is, extension table £4 2a 6a, 'gate table £3 6s, sideboard' £3, sideboard £l3, sewing machine £3 12s fd, Apiece suite. £ls, gromaphone and, records £ll 10s, carpet £8 Se. Arminßter.c*rpet j£li