GOOD BUSINESS FOR AUSTRALIA

Dominion, Volume 9, Issue 2632, 1 December 1915, Page 6

GOOD BUSINESS FOR AUSTRALIA

STEAMERS FOR THE WHEAT SHIPMENTS

A SMART DEAL Br Telegraph—Press Association—Copyright (Rec. November 30, 8.5 p.m.) London, November 29. It is reported on the Baltic Exchange that Australia has secured 600,000 tons of shipping, of which 250,000 consists of transports and interned enemy vessels, for the carriage of'wheat. Shipowners state that the Australian rate will be the parity for the rest of the wotid. Australia ought to be paying 110s. to 120s. per ton, but .shipowners are taking 955., which is very patriotic, as they must lose hundreds of thousands. Ninety shillings has been paid from the Rivor Plate, whore there will be 2,000,000 tons of grain for shipment. [l'ho scheme adopted by the Federal Government for 'handling tho wheat .harvest for export. embodies the following points:— " _ The Commonwealth and the respective State Governments to control the receiving, financing, shipping, and marketing of the whole of the wheat crop of the wheat exporting States in excess of seed and feed requirements. Methods of Control.—The internal State organisation to carry out the responsibilities as outlined in the preceding paragraph, to be arranged by the respective State Governments cooperating with the interest concerned. A London board, representing Commonwealth and States, is to be appointed, wliich is to have the co-opera-tion of _ the London representatives of tho principal Australian wheat-buying firms. Government agents are to be appointed to receive wheat on behalf of their respective Governments. Agents' Duties.—The Government agents to receive the wheat at various centres, to issue certificates, to store and safeguard it, to consign it to various shipping ports, to ship it, and throughout from reception of sliiriment ti be responsible for the weight, quality, and condition of the wheat'. ' On, receipt of the wheat the Government agent to issue a storage certificate showing quality and quantity of wlieat delivered. Certificates only to be issued by firm's chief office .in State. Quality to be stated in certificate. If inferior, value to be marked. Advances to Farmers.—Arrangements to be made for part payment to holders of certificates on the basis of 3s. per bushel f.o.b. at- principal ports of shipment. The difference between the amount thus received and the'average price received for all the wheat exported from the States, less expenses, including interest, to bo paid to the holders of certificates at the close of tie season. . London Board. —The selling to be entrusted to ; a London board. Selling commissio-i and charges to be paid at tho rate fixed. The returns from sales of each cargo to be credited to the exporting States. Deliveries .of wheat .under this scheme to cease on September 30, 1916, and accounts to be paid up, and final payments to farmers to be made subsequent to sale of the last shipment, probably not later than No--vember 30. As soon as possible after the sale of the last cargoes tho Minister to ascertain the net average price realised for the whole of the wheat shipped by_his State, and each, farmer to be credited. with this rate on the whole of the amount delivered to the Government agent. Provision is to bo made for supplying millers with wheat sufficient for their requirements at " a price to be approximately the London parity.] i