COMMERCIAL NEWS

Ashburton Guardian, Volume XLV, Issue 10169, 26 July 1924, Page 8

COMMERCIAL NEWS

CHRISTCHURCH MARKETS. CHRISTCBURCH, July 25. The market is practically lifeless except for the interest attaching to potatoes. Fairly reliable information has come from Auckland that the Koromiko's heavy consignment of 1000 tons has opened up in satisfactory condition. A very small proportion was damaged in transit, but insufficient to -take note of. That on top of the low quotations from Auckland for Canterbury potatoes, and the statement of Auckland merchants that Victorian quotations are available at 65s down to 60s, would seem to spell disaster as far as Canterbury potatoes are concerned, but there is still some hope, as a matter of fact. Victorian values have improved witkon the past few days from 65s to 75s per ton. This is cabled .advice received by one local firm todav, with the additional news that suppliers are smaller, and the variety quoted is Snowfiake, not the choice variety, Carmen, which are now finished. The cabled quotation of the hydney market also shows a distinct advance, apparently confirming the Victorian information. The position in Christchurch is interesting, viewed in the light of the above. There has not been a July for many years when so few potatoes were shipped from L.yttelton, and when a few tons have been wanted to fill an order there has been -quite a scurry round to secure tne coods. Most of the business between merchants has finished up in cancellations, but when the acrual potatoes are wanted they are not at hand. Ordmarilv under such a weight of importations, and the resultant sagging prices, rush in supplies. . There has no suggestion of this so iar Growers generally are prepared to sit tight and see what happens. It would be unwise to construe the above comment on the position as an indication that tubers are likely to bound -up again to high values, but it can be at least suggested that values of imported potatoes have reached the lowest point. Sales during the week were made at £5 for August, f.o.b , si., the- equivalent of £3 15s on trucks. There is no selling by farmers at this price. Oats continue their upward course, due to a pronounced advance in Canada, the result of the dry conditions in that Dominion. Over-sellers here are forced to extent prices to cover. Since mid-week quotation values have Vone up to 5s 9d, f.o.b. s.i., or 5s Id for B's, and os 3d for A's on trucks. Chaff is verv firm, there being a -good local demand, and also enquiry from the South. Values to farmers .are £7. . .. All classes of seeds are very dull. Teas are lifeless. Reports from England are to the effect that there is little chance of an improvement. In -regard to seed, stocks help by merchants are sufficient for requirements. The following are quotations for •produce to be paid to farmers at country stations, free of commission, sacks extra, except where otherwise -stated: —■ , Wheat (new season's prices), Tuscan 5s Hunters 5s 6|d, Pearl 5s B£d, f.o.b. Lyttelton. Fowl Wheat (nominal)—3s 9d f.o.b. Chaff—To £7. Oats— B Gartons 5s Id; A's, 5s 3d. White Clover—ls 2d to Is 3d. Cowgrass —8d to 9d. Partridge Peas —5s 6d. Italian Ryegrass—6s. Perennial Ryegrass—6s. Cocksfoot—Bd to 9d. . Linseed—£l6 10s. Barley—os. Potatoes —£4 (nominal). Flour—£ls 10s a ton. Pollard—£6 10s f.o.b. main ports; 10s extra for smaller packing. ' Bran—£s 10s per ton f.o.b. mam jjorts; 10s extra for smaller packing.

the wool trade. 1 LONDON, July 24. There is a better inquiry on the Bradford tops market, with slightly more business. . , ac ., Quotations are:—64 s, <Osd", Ws, 64? d; 56's, 46*d; 50's, 33*d; 46% 27d; 40's, 26d. RABBITSKINS. ;" LONDONSALES. LONDON, July 24. At the rabbit skin sales 1972 bundles were offered and 1361 oundles were sold. There was keen competition for &11 except best furriers' sorts, which attracted little attention. New Zealand second bucks and does advanced 3d to f3d; autumns generally declined 2d to 3d; Australian prime first winters were unchanged; stout belted advanced Id. Incomings maintained late prices. LONDON MARKETS. LONDON, July 24. Pats, peas and beans are steady. Sugar—Granulated, 38s 4d per cwt.

CANADA'S HARVEST. REPORTS OF FAILURE EXAGGERATED. NEW~YORK, July 24. According to a Chicago message, •wheat prices, which during the past week have been sharply in the, ascendant, suddenly dropped overnight because of conflicting Canadian reports regarding the extent of the damage by drought and black rust. These reports had caused July wheat to reach 133 J cents, September 13H scents, and December 1341 cents, representing an average gain of five cents a bushel over tbo figures a week ago. But the strength of these quotations ebbed respectively to 131, 128, and 131 cents. . The downward drift of prices became & rout when Mr Hoadley, Minister of Agriculture for Alberta, announced that the damage estimates were quite unfounded. Mr Hoadley admitted certain crop failures, but added that the situation had been redeemed by fortunate rains. , . ~ Nevertheless, it is estimated that the United States will sell abroad ,33 per <ceht. of its crop for 1924, against 17 per cent, in 1923. * This increase is being already reflected in better condi- [, tions in the Mid-West, notably• in . Kansas, where. the huge crop within \ a short time has raised many agriculturists from the verge of bankruptcy ttrthf» [dawn of TS«t riches, j

STOCK AND PRODUCE SALES. Small entries were the rule in all departments of the stock and produce sales held in Ashburton yesterday. Prices secured were as follow: Poultry—Hens 2s to 4s 2d, roosters 3s 9d to 6s 6d, ducks 5s to 5s 2d, all at per pair. Pigs.—Weaners 4s to 18s; stores 20s to 27s 6d, porkers 30s to 335, fats 2 at £5. 1A Fruit Apples, cooking 9s to lUs, dessert 12s per case, pears 5s per box. Vegetables—Table potatoes 10s per sack, leeks 6d per bundle, parsnips ds, per sugar bags. Produce.—Bacon 9d per lb. PROPERTY AUCTiON. Two properties were put up at aucition yesterday by Mr Henry Stephenson, but no sale eventuated. A quarter-acre section, with cottage of five rooms, situated 52 Princes Street, was offered on behalf of the mortgagee, hut was passed in at £l3O A half-acre section, with dwelling of five rooms, at 34 Princes Street, was under the hammer on account of Mrs Wonnacott, Junr., but was passed in at £3OO.