COMMERCIAL

Press, Volume LV, Issue 16479, 24 March 1919, Page 9

COMMERCIAL

4 NEW ZEALAND BEANS. (By Cable.—Press Association.—Copyright.) (Australian and N.Z. Cable Association.) (Received Maroh 23rd, 5.5 p.m.) , , LONDON, March 17. A parcel of New Zealand beans eold at 85a per quarter landed. ANGLO-AMERICAN EXCHANGE. (Received Mar oh 23rd, 6.5 p.m.) LONDON, March 21. The removal of Government control of Anglo-American exchange caused a further decline in Now York to-day to 45 dollars. The situation-& viewed with anxiety in Great Britain, because the prevailing industrial unzest has diminished the prospect of increased trade to America. NATIONAL MORTGAGE AND AGENCY COMPANY, LTD. (Received March 24th, 12.5 a.m.) LONDON,'-March 18. . The National Mortgage and Agency Company of New Zealand, Ltd., made a profit for '» the year* of £61,813. A final dividend of Is >1 6d per share and a bonus of 3s per share r were declared, £5000. added to the reserve, and £26,813 carried forward. V • THE OATS MARKET. l * UNDER-ESTIMATED YIELD CAUSES a COT/LAPSE, y (special to "the vuess.") s AUCKLAND, March 21. P The extraordinary collapse in the oat market has naturally been the centre' of interest - in grain circles during the paet week or 0 two. In order to obtain a proper perspective e of the position, the principal figures relat--1 ing to the oat crop during the la3t few years i are appended. n Acres Yield. Export, d in crops. Bushels. Bushels, n 1919 ... 147,247 3,140,000 — h 1918 ~. 156,202 4,942,000 2166 il 1917 ... 177,524 5,371,000 3.845 J' 1916 212.688 7,653,000 146,843 >r 1915 ... 287.561 11,436,000 682, G52 I- 1914 ... 361,741 14,740,000 1,323,362 1913 ..386,786 13,584,000 239.268 ;e 1912 .. 403,668 19,663,000 4,123,920 n The figures for 1919 were Gazetted as rei- cently as last week, and they give no justiw £ cation for a fall in oats, especially as it is y well-known that throughout tho Dominion i- stocks from the previous harvest were very y low in January, when the new harvest came n in. But the figures are apparently right out of it, hence the panic in Otago and Can- >, terbury. This is not the first time that J the estimates have been hopelessly astray, the x most glaring instance in recent years being », probably the harvest . of 1914-15. The area in crop cannot be altered from the original 'returns, and the only difference in area that can come in will be through farmers -using (or certain paddocks originally intended 1, for threshing or vice versa. The discrepancy d seems to have come in through the estimated h yiehl being exceeded beyond all precedent. The s- estimate on the part of the farmer appears, is to be guesswork, and how easy it is to be >- misled by appearances may be • gathered by r- the experience of one Canterbury farmer who. A it is reported, put his crop at 500 sacks, aird i- eold 400 for forward delivery at ss, intending is to keep 100 for his own use. Instead of 500 d sacks he threshed out 800, and he is now s, wondering where he can get 3s Gd for the lo unexpected surplus yield of 300 sacks. Tlio ts aotual position for the whole Dominion will i- bo known when the threshing returns are in. id as these must of necessity be correct, but m if the meantime many extravagant guesses ar* e. being indulged in, some putting the harvest 's at 50, or even 75 per cent, above the official estimate compiled from returns obtained from the farmers themselves. Tho trend of tue market will be watched with considerable interest during the next few months, as it is . quite possible for the position to be altered. ' either way. The on only a certain proportion of the crop being Harvested, but there is such a poor outlet lor ? s chaff this year that eouthexn growers may ' a decide to thresh instead of cutting for chaff. S * On the other hand, the low price will -undoubtedly induce a larger consumption, pr. vided that the shipping, will - be ava.ua for transport to northern centres. HA WARDEN EWE FAIR. Additional sales, made at the Ha warden sk Ewe Fair on Friday by Messrs H. Watson e- and Co. were:-For -T. K. Forrester (dnniiu nui), 74 two-Sooth half bred owes at; 34 , " • • :d._HoU»>v (Woodgrove), 310 two-tooth halfbred

wes at 19s to 22b 9d; W. C. Davie (Hawar-c-n), 39 two-tooth halfbred ewes at 36s 7d; I. Costello (The Peaks). 100 aged ewes at 08, 40 ewe lamb 3 ut 20s 9d; Elliott Hawaiden), 53 two-tooth ewes at 20s 9d; Mt3 I. S. Macfarlano (VVaikari), 332 four-year-id halfbred ewes at 275; A. Dalzell (Hawaren), 168 liiilibrc-d cv.-o lambs at 26a Id; A. 'owio (Wood-grove), 38 two-tooth ewes at 253 d, 118 four-year-old owes at 24a: It. Marhall, 11?, aged ewes at 21s; Brooksdale Esate, 280 sound-mouth ewes at 19s to 2Ss. AMURI EWE FAIR. At tho Amuri Ewe Fair at Culverden on Thursday tho top price for a line of four-ear-old halfbred ewes was 29s 3d, realised -or the annual draft, totalling 615,3 from. Mr Geo. Gould's, The Hermitage Station. Similar owes from the same flock last year made 445, which shows the drop that has taken place in values this season. Other ealee also made after tho train left were:—For Messrs A. V.". Furzo (Rotherham),"- 216 two-tooth halfbred ewes at 26s 6d; G.Henshaw (Culverden), 325 halfbred wether lambs at 15s; *folin Chapman. 310 sound-month ewes at ISs; Lyndon Estate, 203 two-tooth halfbred'ewes at 265, 527 four-year-old halfbred ewes at 26s 4d to 275; J. O. Sanderson, 323 sound-mouth halfbred ewes at 28s 6d to 29a 6d; D. L. Rutherford (Morna), 249 two-tooth throe-quarterbred ewes at 255; H. D. Croealey, 489 two-tooth three-quarterbred ewes at 26s 3d. » TATTERSALL'S HORSE SALE. Messrs H. Matson and Co. had an entry of 10 horses on Saturday. Included in tho cataogue were several useful farm horses, which net with keen competition, the market for ;his class showing a sharp rise on recent 'ales. Among the principal sales were:_ — L''or J. O. Jamieson (Hereford street), sis-•ear-old harness gelding, ill 10s-; O. H. Snsor (Xai Tapu), six-year-old filly £21 10s, lix-year-old filly £31, four-year-old filly £30, lis-year-old gelding £28; O. O. Pannett Scargill), five-year-old mare £22 10s, aged nare £7 10s; Mount Magdala Homo, five-rear-old filly £7 15s; W. Theobald (Papanui :oad), aged gelding £12 10b; client, si:c-year-)ld gelding £16, eeven-year-old gelding £8 10s, six-year-old mare £8; client, seven-year-)ld mare £8 10s; F. Beattie (Linwood), six-i'ear-o!d gelding £12 15s; John Lee (Sockjurn). aged mare £10 10s; client, seven-year->ld gelding £16 15s. Aged hacks and harness lold at late rates. CLEARING SALES. Tho New Zealand Farmers' Go-<>p. conlucted a clearing sale at Ruacuna on account )f Mr F. J. Milton. The following were the )rincipal sales: —l 7 two-tooth owes at 27s )d, 622 two-tooth wethers at 21a 3d, 194 two;ooth halfbred ©wee at 30s, 340 halfbred ewe amba at 17s, 193 two-tooth ewes at 27s 3d, JB4 three-quartcrbred ewe lambs at 22s 9d, 542 two-tooth' wethers at 243 lOd, 7 draught horses pt £27 to £37, dairy cows £7 to £12 10s, tliree-yoar-old steers £11. The National Mortgage and Agency Co., Ltd., conducted a clearing sale at Hinds, on account of Mr P. J. McGowan. The following prices wcrb obtained: —Horses £6 to £25 10s, dairy cows £6 12a. Gd to £13 ss, store iteers £6, store heifers £5 10s to £8 10s cach, nixed sex stores £4 Is. ASHBURTON MARKET. Another week of dry weather has been experienced, and nearly all grain is in stack. Tho heavy winds during the week will have llso helped to condition eomo of tho lines which were threshed out of condition. Threshing is proceeding without. interruption, and fields are reported to be up to expectations in nearly every instance. Wheat.—Offerings are now general, and irokets advise that they aro experiencing difficulty in placing all the parcels submitted by :lien&. and the position appears as if it will soon become serious, and will require the attention of the Controller. Oats.—Tho market is in a very uncertain •ondition, and values aro still more or less jiominal. Garton oats may bo quoted at 3s ■to 3s y> and Algerians 2s 3d to 3s, on trucks. THE PROPERTY MARKET. The Aahburton branch of the New Zealand Farmers' Co-operative Association offered by auction on Saturday, on behalf of the trustees in the estate of the lat© Meredith Wilson, a farm comprising 178 acres of firstclass land, situated at Wakauui. Bidding started at £27 an acre, and reached £28 ss, at which price Mr W. J« Doak, of Wakanui, became the purchaser. SOUTHLAND MARKET. (special to "the press.") INVERCARGILL, March 22. The new oat crop is now being harvested in most parts of Southland,-but it will be a good week or two before any gTain is actually put on truck. A good deal of business of a speculative nature is, however, going on for forward delivery, and many of those who sold forward early in the season are covering their commitments. Sales of ,B Gartone have been made during the past few days at Sa Did, f.0.b., 8-i., at Southern ports. It is difficult to say how the market will <»o later on, but it may bo safely assumed that it will not advance to any extent unless some of the surplus crop is exported. On present appearances the local market should open at from 3s to 3s 2d, on trucks, but the attitude of "rowers is, of course, a very important factor. The chaff market is not very brisk. Anythin" prime is readily saleable at .about £6 10s on "trucks, for prompt delivery. ■ The digging of tho mam potato crop has hardly commenced. The market has a slightly easier tendency, the value for immediate delivery being about £6 10s to £7, on trucks, for prime quality. , There is a moderate demand, for the heavier samples of ryegrass, but light and inferior seed is entirely neglected. For seed, ing 231b to 261b, 3s 9d to 4s 6d per bushel, according to quality, is obtainable. I'°* ■undressed cocksfoot about 8d per lb is being offered. DUNEDIN FRUIT MARKET. DUNEDIN, March 22. Tomatoes, both Central and Canterbury crown, have realised high prices all through the week. As a-matter of fact, prices are double those ruling this time last year. Nectarines are just about finished. Grape® show a sharp rise in prices during the week, and all lots coming forward are readily taken un. Current wholesale prices are as follows —Apples: Local dessert, 2Jd to 3Jd; Cox's Orange, to 12s 6d; Ribßtones, 9s tolOs; Delicious, 5Jd per lb; local cookers, ljd to OA t>er lb for choice. Grapos: Best, to Is 6d nor lb; others, Is to Is 3d. Hothouse tomatoes: Local, BJd to 9Jd per lb; Chnstchurch, 5d to 7id; Otago 6Jd to 7?d; crates, to 7d. Peaches: Half-cases, Td to 4d per lb; crates, to 7d. Peara: Central Otago, lid to 2£d.per lb; Canterbury, 4a to 7s per ouse. Apricots: In cases. sid, about finished. Plums: Cooking, lid to 2*d; dessert, 2|d .to 3Jd; extra choice, m crates, to 4-Jd. Nectarines, 3Jd to 6d; extra, in crates, to lOd per lb.