SURPLUS PRODUCTS

Wairarapa Times-Age, 28 June 1941, Page 4

SURPLUS PRODUCTS

POSSIBILITY OF DISPOSAL IN U.S.A. IDEA AWAKENS INTEREST IN LONDON. DIFFICULTIES PERCEIVED. (By Telegraph—Press Association—Copyright) (Received This Day, 11.10 a.m.) LONDON, June 27. Dominion circles in London are very keenly interested in a suggestion, following the announcement c? the surplus products agreement cn June 26, that the United States may agree to take the New Zealand and Australian surplus for consumption in the Pacific Coast States, enabling the Eastern States to export similar products to Britain under the Lease or Lend Act. The Associated Press says that though it is known that Mr Menzies discussed the subject with Mr Harriman and Mr Fraser, displaying the liveliest interest, it must be emphasised, that the idea at present is an. idea and no more, presenting the greatest difficulties. Not least of these is that of the Pacific States agreeing to receive products from countries 6,000 miles distant, when similar products are obtainable locally or from other parts of the United States. Nevertheless, with American realising more and more that it is imperative to conserve shipping space', eliminating long hauls, official circles in London hope that the United States ultimately may agree to the whole plan, or at least to a modification of it. Some Stock Exchange authorities, commenting on the new arrangement to cope with the Dominions’ surplus food, express the opinion that it will increase the interest of investors in New Zealand and Australian agricultural- and agency companies and also help to a further improvement in the Dominions' credit status.