Brazilian Government Announces ""'”" ”5'”' ”' 1”" ””" ”"”""' "" 1'
Reduction In coffee Prices M M Q" m"'""'' ”"'""' W """' '
soes back to June a when the The Br-Illien sow-rnnlent bant- By SAM DAWSON in several U. 5. cities. Bakers
Dominion Textile
Boy Inherits K Company Cancels
Huge Estate
.VIorId Survey Indicates Farmers Being Paid Less For Increased Production
Brazilian government hiked its to the neleting American house-. i I Elliott price to H cents a pound wife. .I'-ltlled its aunelroe once 3
Iy JAMES 2. LONG
ROM! (AP)-The woridis farm- ue are gettting paid progressively leg for producing steadily more. yet the cost of food to consumers has not gone down. .
This was reported in an annual survey of the world food situation flor 1064. iuued today by the United Nations Food and Agricul- ture Organization.
"During the years 1952 and 1953 farm prices fell by 17 per cent in the United States and 23 per cent in Canada. and were closely fol- lowed by wholesale prices: But retail prices fell in the same per- iod by only two per cent in the United States and eight per cent in Canada..." The FAO said.
"The widening gap between the cost of food at the farm gate and the cost. of the consumer" was linked by FAO to five other trends:
1. "Heavy surpluses of certain commodities have accumulated in some countries although there has been little improvement in the diet of millions of inadequately fed people.... '
z. "The gradual decline of whole- sale farm prices and of farm in- comes is likely to continue through 1954. The reduced purchasing pow- er of the farm population is al- read being felt In other sections of the economy...
3 "Marketing costs represent from 80 up to 50 per cent. and at times nearly 70 per cent. of the food costs to the consumer.
4. "World trade in foodstuffs has become static at almost exactly the 1834-38 pre-war level. The static condition is in sharp can- trust to the steady expansion of agricultural production. and indi- taets that a gradually diminish- mg proportion of the worlds out put is entering international trade.
5. "Food production per capita B still four to five times greater in North America and Oceania (the surplus producing sections) than in the Far East. Near East and Africa the sections of great- est Want...."
FAO reported that in 1953-54. for
the second succusive year, world 100'-"I Production increased nearly three per cent at a rate faster than the world's gain in population ly, per cent.
FAO said this increase in 1053- 54 was less than in the preceding
year. and added: "Fully half the world's peopse are still inadequately ho ,
clothed and nourished.”
The summary said one of the most critical problems was that of the surpluses which have piled up: Wheat in the United States. Can- ada, Australia and the Argentine, sugar in Cuba, and coffee in Cen- tral and South America.
"Wheat represents the crux of the problem." the report said.
”Stocks of wheat held by the four major exporting countries- United States. Canada, Australia and .Argeritina-increased by some 12,000,000 ions (33 per cent) during 1953-54 and now represent about 2y, times their normal level of exports. The carry-over at the end of 1954 is likelylto show a further increase. . .
FALLING EXPORTS
"Falling agricultural exports ec- count for only part. of this in- crease," FAO said. ”For example. in the United States the increase in the value of government - held ' ""-:5 in the 12 months to March. lD54. was more than five times the hill in the value of agricultural exports...
"As it is only the retail price that affects the final demand. the rigidity of retail prices despite falling farm and wholesale prices must have reduced the expansion of demand and contributed to the piling up of surpluses and the tendency to reduce farm prices even further."
BUl'.DlNG.lWREDAL LONDON fCPl - The ministry of housing is offering a special medal to house-owners who make an ex- ceptional jnb of modernizing old
houses or converting homes into apartments.
224 Gt. Geo. Sh
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TOMORROW AT
1-xanrron, lnglend (Reuters) - The country store in this small village where nine-year-old Jamel I-leneege does his cum! buvlnl 1! all his own now.
In addition he owns a. 00-room mansion. the village's 100 houses. and the 8.000 acres of fields over which he daily rides hil DOM- Jamee has Just inherited one 0! l:ngland's biggest country estates under the 8965.100 will of the sec- and Lord Heneage. who died in January at the age of 87.
Lord Henelage. a bachelor. has been succeeded to the title by his 76-year-old brother, Rev. Thoma! I-leneege of Vancouver.
But in his will published Tues- day. he left the country eltli-G. his money and the unofficial title "The squire" to Junu. the sund- son of a cousin. '
The new squire heard the new! calmly when he returned to the mansion after a. gallop.
But down in the village it was big news. Village atorekeeper R. L. Parsons looked forward to a steady trade in chewing gum.
James, he said. coma in to buy some every day.
Dividend Payments
MONTREAL (GP) - Dominion Textile Company Limited Wednes- day cancelled dividend payments on common stock and indicated there will be no further dividends until conditions in the textile in- dustry improve.
The board of directors announced the usual dividend of in per cent will be paid for the quarter end- ing Sept. 30 on the sioo-par value preferred stock.
But in a statement accompany- ing the preferred dividend sn- nounceme t, the directors said they "did not consider present circumstances justified imposing further strain on the resources of the company through the declara- tion of a dividend...which has not been earned."
They said resumption of div- ldends on the no-par value com- mon shares. of which there are 2.574.374 outstanding, can ”only be warranted by an improvement" in company earnings.
Three quarterly dividends of 10 cents a. share. compared with 15 cents in 1953' have been declared so far this year.
NEW Y H , Iblame many things. One is gov- who mnk n0:;K' (Ab Hmmwves jernment price support for wheat. m VI” OI c””” P””j The housewife is getting a break b00bi-I118 are IDOKHIK iofwnrd i-Odillflat the meat counter. however. al- to their reward-coffee price cuts. Ithoush thin 15 due 00 hish produc- The Brazilian government hiked Ition rather than government con- the export price of coffee in June.Itrols. The U. 5. Meat Institute says It was one hike too much and buy- that retail meat prices now are at ing of Brazilian coffee by Ameri-Ithe lowest level of the year, and cans dropped sharply in the Unitedidown considerably from the first Btates. Lh of the year. Now e Brazilian government is reshuffling its complicated foreignIFoRECAsT n3CENTL' exchange
5''""P "M Pnmunc” Brazil's juggling of coffee export that Brazilian coffee farmers will prices was (uncut recently when get Just as much in Brazilian
coffee futures broke sharply on the New York coffee and sugar ex- change under selling by houses with Brazilian connections.
The following day Brazil an-
The American houseulfe got an- nollhced it would let coffee export- other break on the governmentiers retain some American dollars price support a lahlle back when when they sold to the United the government--which props the States. Previously they had to turn price of many food items just asgall dollars over to the Brazilian Brazil supports the price of cofieeigovernment and get cruseiroe for -lowered the support price for but-ithem. ter. And with lower prlr-es. that Since Brazilians can get more American housewife has lnci'easedIci'u7.eiros for dollars on the free her buying of butter by about eightimarket. than they can from their per cent. I own government. it means they
But on another front she is aboutlcan sell coffee for less here and to lose a skirmish. The price of still come out ahead at home.
money for their i-rop. but Ameri- cans yvlll pay less in dollars.
ANOTHER. BREAK
breed has headed up by one centi The real story in the coffee
from 68 cents. The June price hike set off a DFIGO 101' 001180 here.
wave of price resistance. :11-
coffee
(t;:)m::is;:;1jl:r it with the American ten to fly freely Into the centre d
again .snt-1 came up with a lawn g
Brazil's exports to the United states out almost in half. Since IPECIAL OONCEBMON
depends upon coffee export! A new regulation
allows helicop- needs, the situation be-yLondon. England,
DUNLOP HAPPY HOLIDAY CONTEST
WINNER RECEIVES 5500 IN PRIZES
MRS. J. JOHNSTON. Tantallon, Halifax Co.. N. S.
Dunlap-Canada congratulates the winner
AUBREY C. PULSIFER LTD., I'pper Tantallon. Halifax Co., N. 8.
On behalf of its dealers DUNLOP wishes to thank Ore thousands of motorists who participated in this Happy Holiday Contmt which commenced June 25th and ended July 25th, 1954.
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