Falling World Prices.

The end of the problem of falling wheat prices, and holding of wheat, is not yet. Winnipeg cabled on 14th August that the total carry-over of Canadian wheat for the season is 128 million bushels; so that, assuming a 400 million crop in Canada, total supply is figured at 528 million bushels, against 428 million last year. The following pertinent observation

Installed At Auckland's New Station Yard.
(Photo., courtesy The “Sun” Newspapers Ltd.)
Interior of the new signalling cabin at Auckland, shewing interlocking machine of 128 levers and the operating diagram.

is taken from Sir Otto Niemeyer's address to the Australian Premiers:—

It may be hoped, though without certainty, that wool may maintain something like its present level, but with heavy harvests anticipated in Canada, Argentina, and India, and the large carry-overs in Canada and the United States, it is difficult to see how wheat prices can fail to drop further. Though the Australian wheat crop may be larger than last year's, its effect on the aggregate value of exports is likely to be small.

Values in the export market, he added, have fallen and are falling steadily…. United States foreign trade dropped in July to the lowest figure for five years.