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Taranaki Daily News, 31 December 1915, Page 8

men outline the the was the occupants wade the have done four heroes. to 3; buying In be of the it a the of GovernMontreal, are bushels. The 1 a was to i«mes ■> over, and they is ddne the to the Government to say. It their grain instructions at the Tate and whatever disposition will be made of it, but no have come lately. The are high, and with a big gone down to the extent of a raiflion less than was paid consignment. As far as the here are concerned, they carried out the request of the ■lew Zealand Government, and though I'the investment or speculation turns out | unfortunate, the blame, it is stated, is not upon them. ' PBEMIER'S EXPLANATION. The Premier, shown the Montreal report, stated that it was quite correct that grain in the elevators, totalling a million bushels, was 'bought as a pre- . cautionary measure. Only 100,000 bushels were shipped, and then the drop came v , on account of the American wheat prospects and the possibility of the Dardanelles being opened. The Government was not disposed to realise at a loss, ■ and made arrangements with the Canadian Government to hold the wheat till a suitable opportunity offers. It could : be sold to-day, but the price was the ' question. By an extraordinary coincidence, while the Premier was speaking, he received , a cable from Canada stating that wheat , was now 1 dollar 20 cents. "Thus," he .. said, "we would not lose much if we , sold to-day, but the Canadian GovernI merit is doing its best for us, and we . shall lose very little." Mr. Ma-ssey added that .the £90,000 vote in the last Estimates was for deposit on account oi this purchase and the payment of outstanding accounts on the previous purchase.