June 11, 1946 (20th Parliament, 2nd Session)

LIB

James Angus MacKinnon (Minister of Trade and Commerce)

Liberal

Hon. J. A. MacKINNON (Minister of Trade and Commerce):

Mr. Speaker, I am now in a position to make a brief statement in respect to the payment on 1943-44 wheat participation certificates. The surplus in the

1943-44 board account is approximately 836,000,000, which on deliveries of 293,375,116 bushels will provide an average final payment of about 12 cents per bushel.
In connection with the surplus on the 194344 board account, it is necessary to mention that on sales in the domestic market, the intention is that there shall be no loss or gain as far as the producer is concerned-this wheat is sold at 81.25 per bushel, basis No. 1 northern, in store Fort William/Port Arthur or Vancouver, with the dominion government assuming carrying charges. 1943-44 wheat for export was sold over a period of approximately a' year and a half, commencing in October, 1943.
The actual payment on 1943-44 participation certificates will begin as soon as the barlej? equalization payment and the Ontario wheat flour equalization payments are completed. Requisition forms will be distributed through country elevators within a week or ten days time. These are the forms upon which producers will list their 1943-44 wheat participation certificates for forwarding to the board for payment.
It is expected that the payment on the 1943-44 board account will be much more rapid than the payment in respect to participation certificates for 1940-41, 1941-42 and
1942- 43. In these latter crop years, about five to six million participation certificates were outstanding and approximately twenty per cent had been lost or misplaced, which retarded the rate at which payment could be made. In respect to 1943-44, there will be fewer lost certificates, and the payment should proceed much more rapidly. Approximately 2,500,000 participation certificates are involved in the 1943-44 payment, and it is estimated that about 400,000 cheques will be issued.
Last year some areas in southern Saskatchewan and southeastern Alberta experienced poor crops, and in some points in Saskatchewan low yields per acre were harvested in 1943 as well. In making payment on 1943-44 participation certificates, the Canadian wheat board will arrange to make payment first in these areas to which I have just referred. The
1943- 44 production was very uniform, and with the exception of a very few grades, the payment per grade will be about twelve cents a bushel in each case.

Topic:   PAYMENT ON 1943-44 PARTICIPATION CERTIFICATES
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