COMMERCIAL.

Press, Volume LII, Issue 15603, 30 May 1916, Page 8

COMMERCIAL.

(By Cable. —Press Association. —Copyright.) WHEAT AND FLOUR.

LONDON, May 28. The wfceat and flour afloat tor the United Kingdom is 3,425,000 quarters, and for the Continent 4.430,000 quarters. The Atlantic shipments total 99,000 -quarters, and Pacific nil. The total from Europe ie 1,1)00,000 quarters, from the Argentine 173,000 quarters, and Australasia 211,000 quarters.

AUSTRALASIAN MEAT. MELBOURNE, May 29. Referring to the complaint that Australian and New Zealand mutton, was being sold in London at below Argentine prices, the Hon. F. G. Tudor, Minister for Customs, declared that the message was evidently inspired by competitive dealers. "No meat has left Australia for nearly twelve ihonths," he said, "except on account of the Imperial Government. If it is being forced into sale at a low price, it is not our fault. Perhaps those who inspired the cablegram do not desire lie Imperial Government to take the importation out of their hands."

< Mr Tudor's opinion was that the Imperial Government was the best body to handle the import at the present time. Mr Tudor doubts if the Queensland proposal to sell horse-flesh would be a good thing for the Australian meat trade. '

EXPORT OF WOOL. (Received May 29th, 10.15 p.m.) SYDNEY, May 29. Mr Tndor has announced that the wool sold at this week's Brisbane sales will not be allowed to be exported outside the Empire.

The New Zealand Loan and Mercantile Agency Co., Ltd., advise having received the following cablegram from London giving the under-noted market information: —"AVool sales: Anticipate merino likely to go higher. Crossbred about same as last."

CLEARING SALE. Messrs H. Matson and Co. held a clearing sale of dairy cows for Mr J. F. Watson, at Tai Tapu, yesterday, herd comprised 30 cows, 18 calves, and 6 yearling heifers. Cows made from £6 to £15, heifers £5 to £12, and yearling heifers averaged £o. A bay gelding (spring carter) made £23. a chestnut geMing, 3yrs. by 0.Y.M., £13, and 1i gift's pony, £8.

SOUTHLAND OAT MAUKET.

LARGE QUANTITY BEING HELD

The following is the present position of the Southland oat market (says Saturday's ''Southland News''): — , Just as the market seemed like coming back still further an order of some 30,000 to 40,000 bags came on the market. This lias steadied things, and if anything, the market is a shade firmer, though shipping values are hardly what they weiv at the end of April. " The 30,000 to 10,000 sacks order was easily tilled by merchants, but the price obtained was oniy just bare cost, as holders "wished to reduce stocks. These oats were for extended delivery, so it is unlikely that thev would be for tho Government. The latter would require delivery by certain dates, and the above order was spread right to December. Under the circumstances, it looks as if someone was buying for a spec or else to cover forward sales. l T nless the oats are sent out of the country, it will not affect the forward position. Some merchants are pessimistic as to the future of the market, and it certainly seems there are a lot of - oats still to be handled. Taking everything into consideration. merchants have not seen their way to increase their buying limits beyond 2s for A Gartons and Is lid for A Sparrowbills. It has been ascertained from those in the trade that some 800,000 cornsncks havp been eent out to farmer* so far this season from Invercargill. exclusive of Gore. The bulk of these will be for oats, and as there is still a lot of stuff to thresh, there will be a considerable quantity of oats to handle in this year, aiid unless something unforeseen takes place, there is not much hope entertained for the futnre of the market. SOUTHLAND MARKET REPORT. The oat market is firmer, owing to a large order having been placcd for June and forward delivery. Merchants are operating with caution, and only 2s id is now obtainable for A grade Gartons,

and Is lid to 2s for A grade Sparrowbilis, on trucks.

iueio i» uot much disposition on the part of the growers to sell chaff, and the market has a firmer tone. So* far merchants aro not offering more than £2 los, on trucks, but if storage were more plentiful thero is no doubt that buyers would be willing to operate at up to £3, on trucks, for prime quality. Although the ryegrass maiKet is quiet, lines continued to more steadily. Values, however, aro on a lowerplane than they were sis weeks ago. Values Vmiy_ be quoted at 3s 6d to 4s 6d, according to weight and degree of cleanliness.

The potato market is fairly firm, and from £4 to £4 5s is now being freely offered.

The hemp market is quiet, owing to the absenco of shipping facilities, and many buyers are not operating at all. It is the off season, and in the absence of any recent sales it is impossible to give reliable quotations. The wheat market is firm at 4s 6d to 4s 7d for Velvet, and 3s &d to 4s 3d for Tuscan and Hod Straw. Fowl wheat is not in request, and flour remains unchanged.

In the stock line, business during the week has not been of very great dimensions, both farmers aud agents devoting I most of their time to the wool. Any lines that have changed hands have been at firm rates. The only great difference during the week is with fat cattle, one freezing operator buying fairly freely at the weekly sale at \Vallacetown on Tuesday. This is tie first sale for the past few months that the freezing operator has purchased at, and, naturally, his'inquiry strengthened the markot. The quality of stuff offering showed a considerable advance on that of the previous sale, but the total yarding was again small. It is certain* that for the next two months the yarding of fat cattle and sheep will not bo large, as graziers will have tins class of stuff on turnip feed shortly, making them fit for the market in the early epriug. Young store cattle are practically very quiet, little business being done in this class. Although values of store sheep aro still firm, yet the quantity passing is'not near so large as lias been the case for some considerable time. During tho winter months here business will be quiet in this class for at least two or three months, as far as local demand is concerned. But we anticipate within the next six weeks or so a fairly good demand coming from Canterbury and North Otago. When this comes, as undoubtedly it will il' northern provinces have a good aud early spring, Southland should be able to spare a large number of sheep for : tho north, as judging by the wool sale j catalogues for this season, it is quite evident that this province is carrying far more sheep than it has ever done before.

CHKISTCHURCH STOCK

EXCHANGE. LATEST QUOTATIONS. Buyore. Sellers. £ b. d. £ s. d. COAL — Taupiri ... .... 012 6 — Stockton. ... ... 0 6 3 — GAS— Christchurcli .. — 7 15 0 INSURANCE— National (ex. dir.) .. 211 8 — MEATS— v Chriatehurch. (£lO paid) 18 0 0 — SHIPPING—r "Union .. 113 9 114 6 MISCELLANEOUS— N.Z. Farmers' Co-op. 2 6 6 — N.Z. Farmers' Co-op. (G per cent. Ist pre£) 66 0 — N.Z. Paper Mills .. — 1 0 0 "VVhitcombe and Tombs 6 7 6 611 0 MINING— Talisman .. 0 U 0 — Waihi (ciua. div.) .. 116 0 — Waihi Grand Junction — 018 6 YESTERDAY'S BUSINESS ON OTHER EXCHANGES. (PEBSS ASSOCIATION TELEGRAMS.) AUCKLAND. Sales: —Bank of Now Zealand, £11 4o 6d; National Bank, £5 9s; Auckland. Trams (ord.), 19s. 9d. WELLINGTON. Stock Exchange quotations:—Dominion Developing, sellers 465; Sucoeas Dredge, toilers 31s; Talisman, buyers lis, sellers 12s Gd; Waihi, sellers 36s 3d; Waihi Grand Junction, sellers Ids 6d; National Bank, buyers £5 8e; Bank of New Zealand (now), buyers £17 17a 6d; Union Bank sellers £56; National Mortgage, sellers 79s 6d-; Gear Meat (20s paid), buyers 8"s 6d; Huddart-Parker, sellers 2c»; Union Steam Ship, buyers 33s 9d, Belters 34a <5d (cum.); New Zealand Shipping, buyers £20; Kaiapoi Woollen, buyers £5 15s, sellers £6; Wellington Woollen, buyers £6; Wellington (preference), buyers 71s; Weotport Coal, sellers 30a; Westport-Stoek-ton, buyers 5s 9d; Leyland O'Brien Timber, buyers 21s 6d; Golden Bay Cemetrt, buyers 225; New Zealand Drug, buyers 45b. DUNEDIN. Sales: —West port Coal, 29s 6d; WestportStockton. 6s 2d (two parcels); D.I.C. (preference), 20s 6d. Sale repotted: — Westport -Coal, 29s 6d.