FEDERAL WHEAT POOL

Dominion, Volume 9, Issue 2772, 16 May 1916, Page 8

FEDERAL WHEAT POOL

,J^J S becoming-a. settled conviction in the wheat trade' (says the Melbourne "Age' of May i) that-'farmers are not ; likely to receive from the Government any further advance against their grain this sido of the end of the current financial year (iune 30). In well-informed quarters, it *k stated, the payment of a jurther Gd; per bushel, which it was hoped ' ;"- ul d have been in hand by this date; is ■ little, if at all, nearer than, it was a month ago. The reason for postponement of the payment is reported to bo that the trading banks did not anticipate being called upon to. make advances exceed : wig'.£7,ooo,ooo, and that it was computed : .££,000,000 would be the limit of assistance required from the Commonwealth Bank. But the total at the latest date for which authentic particulars are available was nearly .£13,000,000, and it was considered possible that would be reached beforo any permanent decline could be looked for. Although all the wheat reapedMn Australia will not go A through tho "pool," it is estimated, that quito 160,000,000 bushels will do so, and that quantity at Gd. a bushel means additional ftdvanoes aggregating ,£4,000,000.