HC Deb 22 August 1916 vol 85 cc2470-1
34. Mr. THORNE

asked the President of the Board of Trade whether he is aware that the selling price of flour per sack in London on Tuesday, 15th August, was 56s., top grades 3s. or 4s. more, and that the price is 13s. over and above that of 27th June, 1916; if he can give reasons why this rise has taken place within the course of six weeks; if he is aware that for every extra 10s. per ton charged on wheat freightage 1d. is added to the price of the quartern loaf; if he can state what was the rate of freightage per ton on foreign wheat imported in June, 1914; and what was the freightage per ton on imported wheat from the same countries in July, 1916?

The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr. Pretyman)

The price of No. 1 Northern Manitoba wheat quoted ex ship in London was reported as 52s. per quarter of 496 lb. on 3rd July and 72s. 6d. per quarter on 11th August. In that interval the price of the same quality and quantity of wheat in New York rose from 43s. 9d. to 57s. 9d. It will be seen from these figures that the greater part of the rise in the London price was consequent on the rise in New York which followed the receipt of unfavourable reports of the condition of the growing crop of the United States, and was not due to any causes within the control of His Majesty's Government. A very small proportion of the rise, not more than 3s., was accounted for by freights. Some figures illustrating the rise in freights since the beginning of the War were given on Thursday last in reply to a question by the hon. Member for Sunderland.

Mr. THORNE

Is it true that, according to a report stated in the papers, there is a certain cornering of wheat in London, and that 200,000 quarters of wheat are being held up by firms in order to keep up the price?

Mr. PRETYMAN

Inquiries have been made, and we have been unable to find that there has been any attempt at cornering, but, if my hon. Friend has any evidence of it, I shall be only too glad to inquire.

Mr. THORNE

May I say that there was an article in the "Statist" last Saturday which goes to prove that there is a corner in wheat existing in London?