BRAN AND POLLARD.

Press, Volume LX, Issue 18152, 15 August 1924, Page 10

BRAN AND POLLARD.

STATEMENT BY MINISTER OP COMMERCE. (SPECIH. TO "TXT. PMSa.") WELLINGTON, August 14. Replying to a question in the House of' Representatives to-day regarding the supply of bran and pollard through one firm in the South Island, the Hon. W. Downie Stewart said:—

Hie question, no doubt, refers to the company known as Distributors, Ltd., which is the sole agent for the sale and distribution of the products of a number, but not all,' of the flour mills of the Dominion. The operations of this company are now the' subject of legal proceedings under the Commercial Trusts Act, but there is nothing to show that the maximum prices of bran and pollard as fixed by Order-in-Counci! *are. being exceeded by the millers or their agents. The resale prices of New Zealand and of imported bran ,and pollard are not such as to give ground for complaint, and ample supplies of bo>th commodities are available, to users at prices ex-wharf Wellington, w"liich allow merchant parents no greater margin than the commission which is received from millers. When bran and pollard have to be taken through store at Wellington the cost is .necessarily increase.! and* when the sales are in relatively small quantities and on credit, prices reach £8 15s per ton, less 2$ per cent, for pollard, and £7'l-ss, less 2' per cent, for bran. These prices, howover, are exceptional, and much of the through store trade is done at lower prices. The bulk of the trade, however, is done into trucks at Wellingtpfi at prices of approximately £7 for bran, and £8 for pollard.

THE MORATORIUM. (press association telegram.) • AUCKLAND, August 14. Mr George M. Johnstone, a solicitor, writing to the "Herold," soys that the various Mortgages Extension Acts' prohibit mortgagees calling in such mortgages as are subject to those Acts until tho date presented which, as the hwv now stands, is December 31st next, but* there is nothing iii any of those Acts to repeal or moclify tlie provisions of the Property Law Act. 1908, which requires a mortgagee who has been receiving interest on an overdue mortgage to give three months' notice to the mortgagor before he can call up or compel payment of the moneys owing under the" mortgage, and this notice cannot be given during the continuance of the moratorium. .. If the present protection erf the moratorium is extended to March 31st, therefore the earliest date of payment would be June SO til.

AUSTRALIAN WHEAT. PROPOSED POOL PRICE. (bt cable—press association—copyright) (AUSTBAUAN AND K.2. CABLE ASSOCIATION.) PERTH, August 14. The T >Vest Australian Cabinet has decided to submit a proposal to the Federal .Government to guarantee 3s" net, at the siding, plus 8d a bushel for handling charges, to growers placing tlieir wheat in a voluntary wheat pool during the coming harvest.

BRITISH TRADE. FIGURES FOR JULY. (BY CABLE—PRESS ASSOCIATION—COPTSIOHT) (ATJSTBALIAiI- AND H.Z. CABLE ASSOCIATION.) LONDON, August 13. - Board of Trade returns show the value of imports into Britain during July to be £31,254,592. Compared with a year ago, exports were greater .by £11,779,439, and reexports by £1,419,746. The principal increases in imports were:—'

Grain, and flour .. .. 4,579.250 Meat ... : . .. 1,807jC5C Food and drink, non-dutiable 1,385,988 Timber .. .. .. 1,994,590 Raw cotton .. .. 3,345,342 Oil, Seeds; nuts, etc. .. 1,512,439 Non-ferrous metals and manu- ■ factures thereof ... 1,776,702 Oils, fats,. and resins and manufactures ' .. 1,236,497 The main increases in exports were:— Food and drink ... .. 1,063,736 Cotton yarns and manufac- ' tures .. .. 3,355,09] Woollen worsted yarns and manufactures ... 1,822,289 Vehicles,.. .. ... 1,379,5.84 There was' a decrease in the exports of coal of £2,477,680. BANK OF VICTORIA. He shares of the Bank of Victoria are now quoted regularly on the .New.Zealand Stock Exchange, and a fair business has been done in them recently. The net profit earned by the Bank of Victoria during the year ended-' June a*Hh last was J2153.739, or about £\O,COO in .the previousyear. The gross* profit was £CQ4,4iO, %s compared with £389,670 lor the previous year, and the expenses totalled £210,671, or •£4707 in excess of the preoedi&g year. The dividend for the year was ttiaintsdned at 9 per cent. The dividend absorbs. fliiJ,o2o, the sum of £3OOO is added to the offieeis' provident fund, and £50,000 to the reserve fund, making shareholders' funds total £5,263,167. Th ©deposits at the end of the' year totalled £11,216,761, as against £11.306,423 in the previous fear, and'advances .amounted to £3,771,211, against £8,269,717, an increase of £502,494. - lnquid assets at £5,1*27,236, contrast with £5,765,670 a; year ago, ■ the principal variations in the ' items being that coin,' notes and cash at j bank are £295,492 less, and that the war '< gratuity advance of £260,811 has disappeared. j EXPORT OF TIMBER. (PEEES ASSOCIATION TEX*BGBAX.) GSEYMOUTH, August 14. The seoretary of the New' Zealand Timber Workers' Federation, Mr F. It. TurJey, has written to the Prime Minister protesting against placing, any further limitation upon the exportation of timber from New Zealand to Australia, pointing out that if exportation is limited 'to any further extent, there should be limitation correspondingly upon timber importations. If export is further, restricted, it, will idle in the Dominion at least a thousand timber workers and seriously' affect the revenue of the railways as well.as imposing- on the Government the obligation immediately., to find work for all the men idled by the, limitation of production and the considerable slack time reported in the West Coast sawmills of late. AUSTRALIAN MARKETS. (SX. CABLE—PEESS ASSOCIATIOE—COPIBIOHT). (AUSTBAXIAH ASB H.Z. CABUS AS6OCIAHOK.) (Received August 14th, 10.10 p.m.) ' „ SYDNEY. August 14. Oats; Tasmanian. Algerian 4a to is 3d a bushel; white 4s 6d to 4s 9d. Maiise: Yellow 4s; white 4* 2d a buahel. Potatoes: Tasmanian £7 10a a ton; Victorian £o 10b. Onions; Victorian £ls to £l6 a ton. r> 4. m - August 14. Oats: .Algenaa : ieed 3a to Sa 2d.

AUCKLAND MARKETS. (SPZCIIi TO "the pasas:") August 14. Business for tho wee it has been tairiy even in town, with alight improvement in the country owing -to improved weather conditions • iaciutatmg transport in tho more outlying districts. Hardware—Wholesale dealers report a quiet week. August is generally one oi t'lie quietest months ot the year,' so the small voiume of trade passing at this time is not unexpected. A lali-iv large shipment of enamelware. from is now lying at the wharf, and will land considerably under English ccsta, but whether it will affect English importations later remains to be 6eeu. Potatoes Owing to supplies of potatoes being smaller than was expected, the market has firmed. . Store -stot'.l are still on the light side, and the Wanaka to-day only brougflt a small shipment. The next steamer from Australia is not due to reach Auckland before the first week in September and it is not improbable that in the interim prices will advance on the local marxet'. Australian are quoted at £8 10a per ton, and southern £9. Set. J potatoes, Up-to-Dates, are worth £9, Northern Star £8 10s, and Gamekeeper i'S 10s. '

Onions—The position of the market for onions shows little change this week stocks being light and pricra high. The market for unions in Melbourne has again advanced and importations from Canada will not reach Auckland until the middle of October. Owing to the increased cost, quotations for forward delivery have advanced. Indications are that prices for onions will iule high until the Auckland new crop is ready for market. Australian are firm' at 22s 6d per cwt.

Maize—A weaker market i 3 reported for maize owing to arrivals from the Coast having been heavier. Practically all the maize now being sent up i 3 new grain, which is not yet sufficiently matured either for storing or crushing purposes. In consequence of prices having eased for New Zealandgrown maize, it is considered unlikely that further lots will be brought over from Australia. East Coast is selling at 6s 9d per bushel. '

Oats Shipments of Canadian o&tc are now being landed here from the Canadian Planter and Las Vegas. Most of the oats were already sold before arrival for dclivery from the vessel's side. These two shipments will have to keep the local market going until the middle of September, when the next 'let is due to arrive. Canadian are quoted at 6s per bushel, and Algerian seed at Gs 9d.

Chaff—An exceptionally firm maTket is reported for chaff. Nothing is now coming forward from the south, and the Auckland demand is entirely supplied by shipments fiom Tasmania. Values have hardened in Australia, so there is no chance of lower quotations. "• Tho Ka-rori • brings a further shipment from Tasmania, which will meet with a ready sale. Blenheim is quoted at £l2 per ton. Australian, in sacks at £9 10s to £lO, and compressed at £9 10s. Wholesale current prices are Superfine creamery butter, booked Is Bid per lb, cash la 7Jd, factory Is 7>d and Is 7d, B econd grade Is G}d and Is 6d, farmers' separator Is 3d per lb; cheese. 9}d to 10d per lb; bacon and hams, Is to Is Id per lb; lard in bulk lid to la per' lb, pats Is Id per lb; flour £l7 Ss per ton.(less 2§ per cent, discount for 2001b sacks); sharps, £8 per ton;' bran, £7 per ton; oatmeal (r«'s), local £32 per ton, southern £33 per ton.

SOUTHLAND MARKETS. (special to "the press.") INVERCARGILL, August 14. Oats—The market continues firm and sale 3 of A Gortons have been made at up to 6s 8d per bushel f.0.b., s.i., and of B's at up to 6s 3d per bushel. A considerable number of A's are also being sold for railing north to Canterbury. Value ß to farmers are 3s, 7d to .53' £d for A . grade and ■ 3d less for B grade, uuns are also in demand, and are in very short supply. Wheat—Supplies are getting scarce, and there is a good demand both for shipment and for local trade, but it looks as if Southland will have to. loot to other markets shortly for supplies.

Chaff —The market continues firm. Occasional lines ares bems? offered by farmers, and merchants are offering £7 per ton for prime lines: ...

Ryegrass—There is now nothing offering from the country, and merchants' stocks are Bmall. A demand has already : set in for shipment, and enquiries have been received from Australia and also from North Island centres. As a rule this demand does not take place until later in the season, so it seems likely that there wjll be a fairly extensive demand, and that probably there will .be barely sufficient stocks to fill requirements. >: • Potatoes—The market is still, well supplied. There are potatoes offering from farmers, but merchants are not inclined to exceed £5 per ton on trucks for best quality. Seed potatoes are in good demand and good lines of TJp-to-Dates are readily saleable at from £7 to £7 10s per ton.

Fruit—Business has beon very brisk in the local fruit marts during the week, sales prices are approximat-iy e- ; s follows: Apples, Delicious, to 16s; Stunners, to 14a; Scarlet .Nonpareils, to 10s Gd; Lord Wolseleys to 12s; pears, dessert, to 5Jd per lb; cooking, 3d per lb; orangos, -Navels, to S2s 6d (double cases); Island repacks, 245; Fdormane, 14s; lemons to 30a; bananas, ripe, 35b; green, 255; mandarines, from 21s to 3Ps; pines, 25s to'27s 6d; passions, 20b to 22s 6d.

STOCK EXCHANGE. (PEESS ASSOCIATION TELEGRAMS.) AUCKLAND, August 14. Soles—"War Loan, 1938, £9B: 1925, £3B 15s; South British, 41s; Auckland Gae, 25s 3d, contrib. 6s; Milne a,nd Choyce, 24s 6d; Debenture Stoek, 23s 3d: Waihi, 28s 6d. DTJNEDIN, August 14. Sales—New Zeala-nd Inscribed, 23s 3d; Westport-Stockton (pref.), 7s. Sales Reported—4J per cent. Inscribed Stock, 1938, £39; 4J per cent. Bonds, 1938,. £9B; Kaiapoi Woollen (ord.), 17s; HuddartParker (ord.), 44s 6d. TALLOW. (BY cable—feess association—copyright) (ATJBTBALIAN AND N.Z. CABLE ASSOCIATION.) (Received August 14th, 8.50 p.m.) LONDON, August 13. At the tallow sales, 787 casks were offered and 585 soldi at an average advance of a shilling. Prime mutton, 46s 8d; medium, 43s 6d. Prime beef, 475; medium, 423 6d. SHARES.

• (Received August 14th, 8.50 p.m.) LONDON, August 13. Waihi: 295. Waihi Grand Junction: Is lOd. GOLD. (Received August 14th, 8.50 p.m.) LONDON, August 13. Gold is quoted at £i lis Id an ounce. WHEAT. •(Received August 14th, 8.50 p.m.) LONDON, August 13. Wheat cargoes opened firm under American advices, but prices receded slightly, owing to the absence, of buyers. Parcels were in fair request, at a. decline of from l|d to 3d & quarter.