CANADIAN WHEAT

Hokitika Guardian, 10 August 1931, Page 2

CANADIAN WHEAT

[United Prose Association.— Vj Electric Telegrapn.—Copyright, j OTTAWA, August 7. Mr Bennett, Premier of Canada nounced to-day that a wheat pool of three western provinces which own nearly sixteen hundred country elevators, as well ns terminals at Vancouver and Fort William, will operate this year in the same way as the privatelyowned erjteprisps, They will have ample working capita!, and the provinces will pot be called upon tp guarantee their operations. A,s a substantial number of producers desire to market their grain op the pool pripciple, the elevators operated by the pools in the several provinces will afford to such producers an opportunity to have their grain dealt with by operation of a voluntary pool. The elevators will make to such producers an initial payment of 35 cents per bushel, on the same basis as to quality and point of delivery as ip the previous year, The Dominion Government wi’l take whatever action is necessary to ensure the orderly marketing of the crop of the year, Panic conditions will not be permitted to control the prices obtainable for this year’s grain crop.

A COTTON SLUMP, CHICAGO, August 8. One of the most sensational f a !]s jn the priqe of cotton occurred at the Board oif Trade here to-day, when the commodity dropped 158 points, or 770 cents per bale. This is the lowest level for 81 years. Upon the Government estimate, this year’s crop will total 15,581,000 bales against 12,£32,000 bales in 1930. October options closed at 6.84 cents per pound compared with 8.17 cent? yesterday, GERMAN BID. FOR U.S.A. WHEAT. NEW YORK, August 8. The “New York Times’s” Wa hington correspondent says:.—“White the United States Farm Board have not .yet received the German offer to purchase six hundred thousand tons of wheat, it is not considered that the terms will be acceptable.

Unemployment Insurance Fund. (“Hear, hear.”) Working men wanted work in preference to the unemployment pay, but until the country was in a position to provide them with work, the Government was determined they should not he left to starve. (Socialist cheers.) An opposition amendment was rejected by 283 votes 236, and the resolution was then agreed to without a division.