COMMERCIAL NEWS

Ashburton Guardian, Volume XLV, Issue 10163, 18 July 1924, Page 8

COMMERCIAL NEWS

WHEAT IMPORTATIONS. TW wheat importations to New Zeaf% cifns (WheaToontroller) told *reoortS- yesterday that some large Shipments £ 6000 ton vessels were e £ Sited from Australia shortly. The Wairuna had just discharged 4000 tons S Auckland, while the Kekerangu had J te£!£S for Canterbury apportioned between Christchurch and limM"Mr cE iudicated that the bulk of the Sported wheat would came to the South Island for milling.

LONDON WHEAT REPORT. LONDON, July 16. Wheat cargoes, owing to rain in Canada, fell 6d to 9d a «ter Parcels are quiet at 9d to Is decline. Resellers are taking profits. REPORT FROMJJHICAGO PIT. NEW YORK, July 16. Chicago reports state that great section, of the Canadian wheat area are &y damaged by drought, which has SSsed 7 prices of wheat to reach the season's high level of 127 cents ior September delivery, a gam of 5g cents ■A-bushel over yesterday. Private dispatches indicated that thou ands of acres were gjj*}^ IndtuSn and Antral Saskatchewan. ScSe droughts, however are still continuing in Northern Saskatchewan and crop failures are heavy WmSe grain Sealers freely predict that w 5 wdl shortly reach 150 cents a

bU Mate also made a sensational advance of 4 h cents., reaching 91 5 cents HSheJ for May 'delivery due to adTerse crop reports from Ohio and in diana. ____ LONDON TALLOW SALES. LONDON, July 16. At the tallow sales 785 casks were offered and 406 casks were sold. Frime mutton made 455, medium 41s 6d; prime beef 455, medium 40s 6d per cwt. Messrs A. H. Turnbufl and Co. are in receipt of a cable from Messrs W, Weddell and Co., Ltd., dated London, July 16, as follows :-At the tallow auctions to-day, 780 casks were offered and 270 sold at late rates to 6d more. GRAIN AND PRODUCE. AUSTRALIAN~MARKETS. SYDNEY, July 17. Oats—Tasmanian Algerian 4s to 4s 3d, white 4s 6d to 4s 9d per bushel. Maize—Yellow, 4s 2d; white, 4s Id per bushel. . Am , ' „. . „ Potatoes—Tasmanian, £7 Is; Victorian, £5 10s per ton. Onions-Victorian, £l3 to £ls per * OU ' ADELAIDE, July 17. Qats— Algerian feed, '3s per bushel. AUCKLAND MARKETS. AUCKLAND, July 17. The potato market is decidedly weak. There was an impression that the market might harden a little, towards the end of the winter, but there are no indications in that direction. It seems likely, with the near approach of the new season, that there will be a good many sellers in the south who lost their chance to sell during the winter. A heavy crop in Tasmania has put buyers in a strong position for forward business, and these low quotations will keep local prices down. Sales during the week have been made at £8 15a per ton on the wharf, but the usual quotation ex store is 9s to 9s 3d per The local onion market is unchanged .•at 20s to 22s per cwt, ex store, but the intimation of an embargo on importations from America has already hardened up the price about £2 per ton in''Melbourne. A good shipment arrived t by the Wajruna, so the market is well supplied this week. The Hollywood's - shipment of oats was rather' disappointing,* and has left some merchants short. Unless the Makura has some next Monday there will be none arriving until the end or the month. Booking is already taking place at 5s 4d per bushel ex wharf, but the price ex store remains at os 9d per bushel. i A good demand for chaff keeps up, and the price is firm. For forward sales, depending on Tasmanian and Melbourne chaff, the price is 10s 6d per cwt ex store, while limited quantities of southern are selling at 12s 3d. The position regarding fowl wheat is Tery unfortunate, as it is expected no direct supplies will arrive from Australia for another month, and before that time locfil shocks will be exhausted. It mf'i possible to draw on large quantities sent to the South Island, but thati wilMncrease th# cost to the consumer '"VThe usual wlpter-demand for bran and pollard is making serious inroads into the large ifcpekof Australian importations, butfit-is estimated there will be quite.'#ufßcient to last until the demand sljfckens in the spring. The price for maize is unchanged at 6s 6d per bushel on the wharf in wholesale lines of old grain, and any new grain sent up is realising a few pence less. • j

CHEAPER POTATOES. HOARDING SOUTHERN SUPPLIES. AUCKLAND, July 17. According to a statement made today "by a man in the trade, potato growers in the south who have been hoarding supplies with intent to force up prices on the consumer have found their cupidity checkmated. Not only ■are Aueklanders assured of early heavy supplies of prime tubers, but those •who set out to exploit them are due to sit on the stool of repentance, regretting that they did not sell at a fair price when opportunity offered instead of seeking .to squeeze the marfeet. "Not only have southern growers come flop, but they have pulled a -number of merchants with them, the informant. "The merchants have been birring at from £6 to £8 a ton, f .o.b. from southern farmers,, who have heen parting with only small quantities at a time. These prices have been paid for August and Augus^September

deliveries, and the price in the south to-day is £5 10s per ton for the same delivery." The explanation, of this contretemps is that merchants railing to secure supplies from those hoarding them ' in the south placed orders in Melbourne, Victoria and in Devonport, Tasmania. Victorian rates were £3 15s a ton, as against £4 10s for Tasmanians a little while ago. The potatoes from the north of Tasmania are as fine as are grown in any part of the world, but prices of these had to come down in sympathv with Victorian potatoes, which were in plentiful supply. There- \ fore supplies for Auckland have been purchased at both Melbourne and Devonport at £3 15s, and these should be landed here at £6 15s a ton at most, this including £1 a ton duty, freight, and losses in weight. The Koromiko is due at the week-end from Melbourne and Devonport with 11,500 bags of potatoes, and she will be followed by the Kaiwarra and Karori, both with full consignments. Thus the public are assured of cheap potatoes for some time to come. "Won't this hit southern farmers pretty hard?", asked, the reporter. "Serve them right!" was the reply, "they wouldn't be satisfied with a fair thing."

STUD SHEEP SALE. MASTERTON, July 17, At the Dispersal sale of Mr R. Buick, of Paerau, his stud of down and Romneys realised b l\ IJK top price was given for a Southdovni ram, 85gns, the purchaser being Mr H. Collier, of Maxwelltown. Romney stud rams sold at up to 20gns, flocks to lOgns Southdown ewes to _J4gns, and stud'ram lambs to Signs Buyers were present from Hawke's Bay, i\eison and Wanganui. RAKAiA STOCK SALE. At the Rakaia stock sale yesterdov very little fat stock came to hand, "there being only one pen of fat wethers and one of ewes. The wethers made 42s 6d. This state of the market was no doubt due to the freezing works being closed. A pen of light-weighr ewes brought 225. There was a yarding of front 800 to 900 sheep, wftich met with a ready demand Sound to f.m. ewes in lamb 32s 6d to 365, broken-mouthed ewes 23s to 29s 6d, old and low-conditioned 13s Id to 20s, ewe hoggets 295, ha bred wether hoggets 24s sd, halfbred two-tooth wethers, 31s. Oattle.—Springing cows £B. Pigs.—Weaners, 16s to 265. MERCHANDISE MARKS BILL. LONDON, July 16. Sir Guy Gaunt's Merchandise Marks Bill is practically killed as the result of two abortive meetings of the Standing Committee of the Commons, to whom the Bill was committed for consideration. The measure goes to the bottom of the list referred to the committee, which at this stage of the session means the end of the Bui.

LONDON WOOL SALES. The Ashburton branch of the National Mortgage and Agency Co. is in receipt of further cable advice of the London wool sales, giving the quotations as under:—■ The auctions closed with a good tone. Compared with close of last sales we quote: Greasy merino (best), no change; (average), no change; halfbreds, 50-56's, lower; crossbreds, 48-50, Id lower; 46-48, fd lower; 44-46, |d lower; 40-44, fd lower; 36-40, |d lower; slipes, 1\ per cent, lower.