FOOD PRICES.

Hokitika Guardian, 17 January 1925, Page 3

FOOD PRICES.

[lleoteks Telegrams. J STPKCULATINO IN WHEAT. LONDON, Jan. 15. f Air Rroomhall, the Liverpool grain trade statistician, in some remarkable evidence given before the hood Prices Commission, said that one of the causes of the present high wheat prices was traceable to the after effects of the long control of the grain trade. The personnel of the trade had been reduced and - the remainder had had their nerve for enterprise shaken. His experience as a dealer tor to years and as a close observer tor 3<> years, was that grain importing could rarely he relied upon to show a profit. Sir J. Mackinder: 11 Your explanation is curious. It is somethin'; ol a phenomenon that wheat is being continuously sold at a loss ns there is a continuous supply of optimists who enter the trade with capital and kune it without capital. Do we enjoy cheap wheat, therefore, on account ot the subsidy received from the executors. \, r Rroomhall: “Yes, merchants do make profits steadily, hut generally ,t is ns bookmakers cjo— sometimes in Rig haul-, hut oftener there are losstSKir Harry Row: “Von suggest that, in the long run, the speculators keep down the prices ”