COMMERCIAL NEWS.

Ashburton Guardian, Volume XLVI, Issue 10457, 25 July 1925, Page 2

COMMERCIAL NEWS.

GRAIN AND PRODUCE. CHRISTCHURCH MARKETS. OHRISTCfHURCH, This Day. The demand for potatoes has quietened down, with the result that an easing of prices has been recorded. About a week ago, on account, of aii improved demand from Auckland' and the fact that over-sellers were anxious to get supplies in order to fill their July commitments, there was a considerable advance in the price of potatoes, and they i went up to £8 a ton, f.0.b., s.i., Aug-ust-September delivery. The best quotation, yesterday for this delivery was £7, and prices to farmers had come back by 10s to 15s a ton. The inquiry from Auckland for potatoes has eased off considerably. This is not to be wondered at, considering that the Katoa, which sailed for Auckland this week, took a large cargo of 12,900 sacks of potatoes. This was made up to 7500 sacks from Timaru, 2700 from Oamaru, and 2700 from Lyttelton. The Katoa's shipment would, of course, arrive on a bare market and go into consumption quickly, but, on top of this, there is the Waihonai due to leave Lyttelton to-morrow with between 7000 and 8000 sacks. Further, it is understood that there arc two boats loading at Timaru for the north. One of these \ is the Wingatui, but it is not expected that she will take any potatoes for Auckland 1 . The rain that fall yesterday will hamper the deliveiw of potatoes from the country, but it is not likely that there will be anything like a keen demand from Auckland for a while yet. So far, no information! has been received from Sydney with regard to the trial shipment of potatoes which arrived there by the Waikouaiti, but Sydney is inquiring for New Zealand potatoes. This week a local merchant received a letter from Sydney in I which it was stated that New Zealand potatoes were wanted on the other side, as there was practically no other source of supply. Merchants here, however, do not seem to bo keen to do business with Sydney, at least under the existing restrictions. It would bo much better if_the potatoes could be shipped straight from store, hut with the restriction that the grower's name had to be on each bag this, of course, could not be done. If New Zealand potatoes were badly wanted in Sydney, the authorities there should modify the restrictions. That i merchants are not keen to do business with Sydney under present conditions is shown by the fact that the Union Company approached merchants this week offering to put a boat on for Sydney, but they did -not get the offer of a single bag of potatoes.

The market for Garton oats is very dull at present and prices have a tendency to ease. Merchants are offering £3 15s ■ a ton on trucks at country stations for good bright chaff, but this quality is practically unprocurable in Canterbury this season. It is the only quality for which there is much demand. Undergrade chaff is very difficult to dispose of.

"With the exception of perennial ryegrass, for which there is an inquiry, all classes of seeds are quiet. Business is being done with Australia in perennial ryegrass on a basis of 6s a bushel f.o.b.' A shipment of Australian milling wheat has arrived in Auckland, and it is reported to bo of first-class quality. Other shipments have been held up by the shipping trouble on the other side. As far as Canterbury is concerned this is not a serious matter, as millers have good supplies of wheat and flour on hand.

The following are quotations for produce to be paid to farmers at country stations free of commission, sacks extra, except where otherwise stated:— Wheat—Tuscan 6s 8d per bushel, f.0.b., Hunters 6s lOd, Pearl 7s.

Fowl Wheat —6s 7d per bushel f.o.b. Oats—Gartons 3s 4d to 3s 8d .per bushel, Algerians 2s 8d to 2s 10d, Duns (dark) 3s 3d to 3s 9d. Chaff—Up to £3 15s per ton. Potatoes— £5 5s to £5 10s per ton. Onions—£lo to £ll a ton. Red Clover—Bd to 9d per lb. White Clover—9d to Is per lb. Perennial Ryegrass—3s 3d to 3s 9d per bushel. Italian Ryegrass—2s 9d to 3s per bushel. i Partridge Peas bushel. \ . Cocksfoot—sd to. 6d per lb. Barley—4s 9d to 5s per bushel. Linseed—Up to £l7 per ton. Flour—2oolb sacks £lB, 1001 b bags £l9, 501 b bags £l9 12s 6d, 251 b bags £2O, all at per. ton f.0.b., Lyttelton, Timaru and Oamaru. Bran—£B per ton f.o.b southern ports, 10s oxtra for smaller packings. Pollard—£9 per ton f.0.b., Southern ports. 10s extra for smaller packings.

LONDON MARKETS. LONDON, .July 23. Flour.—The market is easier. Australian ex store, 4ls 6d to 42s per cwt. Oats—The market is firm. _ . Peas and Beans—The market is quietly steady. DAIRY PRODUCE !N LONDON. LONDON, July 23. Butter.—The market is firm, but high prices are somewhat checking the demand. New Zealand choicest, salted, 194 sto 1965; unsalted, 198 sto 200 s; Australian, salted 18Ss to 190 s, unsalted 194 s to 1965; Danish 208 s to 210 s per cwt. Cheese—The market is firm. New Zealand, 110 s per cwt; Australian, practically cleared, nominally 104 s per cwt. THE WHEAT MARKETS. LONDON AND CHICAGO. LONDON, July 23. Cargoes opened firm, sellers asking an advance of 6d to 9d per quarter, but buvers were indifferent. One sale was 'made at 56s per quarter. Parcels are i steady and'unchanged to 6d advance. Sales were made up to 575. Liverpool futures are quoted as under:— Jujy lis 10d (buyers), October 10s BJd (sellers), December 10s 4|d (sellers). , . Spot trade is slow, and prices are irregular, Australian, ex-ship, sold at 49s 6d per quarter. " NEW YORK, July 23.

Chicago wheat options are quoted at: —July..'lso| cents per bushel; September, 14Si cents; December, cents.

LONDON WOOL SALES. THE CLOSING PRICES. LONDON, July 23. The- wool sales closed steady. Finehaired spinners' merinoes were very firm, and 5 per cent, above May closing prices. Average top-making wools weakened to 5 per cent, below May. Good scoureds were unchanged. Short faulties, 5 per cent, below. Fine come-backs and halfbreds were firm at May rates. Coarse and medium were 5 per cent, below. Best slipes were firm, and others rather irregular. Scoureds generally were in sellers' favour. Lambs.—Best merinoes, 5 per cent, above May prices. Short and faulty, 5 per cent, below. Crossbreds were very firm. At Bradford business is stagnant, with practically no inquiry, the threatened strike affecting all sections.

REXIEW OF THE POSITION. LONDON, July 23. Messrs H. Dawson and Co., commenting on the wool position, state: " The weakest factors are the adverse conditions and lack of confidence in the Home trade. There is insufficient flow ,of business to keep the industry busy, and competition for the small amount of trade has resulted in ruinous prices being accepted for. tops and yarns in order to keep machinery running, consequently Bradford support for the London market is very feeble. These prices are far below raw values ruling in London and the colonies. "The prospects of a general textile strike at present lias destroyed the last hope for improvement and created pessimism. The need of the moment is an increased volume of business in piece goods, which is not showing signs of developing. A crippled world needs cheaper goods, in the absence of which there is no hope of keeping machinery fully employed. British export trade is handicapped by foreign exchanges and lower costs of European production, also by high Home costs of combing and dyeing and heavy taxation. Furthermore,' heavy losses due to the collapse of wool values have intensified difficulties, but happily there is still remarkable confidence in the trade's financial stability. " The best information reveals that stocks of textiles are low. A trade revival might soon come if confidence and stability of values are restored."

STOCK AND PRODUCE MARKETS. No pigs, and only one pair of roosters, were entered in the live stock section of the stock and produce sales yesterday. Fruit was forward in moderate quantities. Sales were effected as follow : Poultry.—Roosters 2s 3d each. Fruit.—Apples, cooking 7s a" case, dessert 10s to lis. "Vegetables—Parsnips 3s a sugar bag, potatoes 8s 6d a sack, marrows 6d and 9d each, carrots 2s 6d a sugar bag. Produce Wheat (seconds) 21s a sack.