COMMERCIAL.

Press, Volume LXI, Issue 18344, 30 March 1925, Page 8

COMMERCIAL.

THE WHEAT QUESTION.

GRAIN BOARD FAVOURED. A special meeting of the Oxford branch of the New Zealand Farmers' Union was held on Thursday afternoon. Mr E. G. Wells presided, and there was a large attendance of members, particularly of wheat growers. The chairman said he had called the members together to consider the wheat question, and to appoint delegates to a conference to be held shortly. It appeared, he said, that millers were importing Australian Hour, and selling it in Auckland to the' detriment of the South Island growers. Mr H. G. Parish said he considered the millers composed the strongest trust in New Zealand, so far as the farmers were concerned. • They seemed to have absolute control of the wheat market. He urged the establishment of a Grain Board to regulate and stabilise the industry. Such a Board would have the data that is now held by the millers and merchants, and with that data they would be able to estimate the value of the product. In regard to the delegation, they should be sent with authority, and all wheat should ; , combine and stand to the decisions of the conference. At present, New Zealand did not grow sufficient wheat to satisfy the demand, but under proper encouragement, safeguards, and regulation, it might grow a surplus. It was not wise to refrain from growing wheat on wheat lands. The most successful farmers, he thought were those who grew a little of everything. Mr E. F. Henderson said lie thought it a big question to prohibit the importation of flour till the present supplies of wheat were exhausted, as had been suggested, but he strongly advocated a wheat or grain pool. There seemed to be a big combination in New Zealand that was working against the interests of the grain-growers. Mr T. C. Horn said the position was a difficult one. When the Government controlled the wheat market, there was an agitation for a free market, and now that that was conceded, there was a combination against them which nullified the free market. He thought the way to meet the difficulty was to impose an import duty. After a general discussion, mainly supporting the establishment of a Grain Board, Messrs E. G. Wells and H. G. Parish were appointed to represent the branch at the conference to be held in Ashburton, with Mr T. C. Horn as , emergency. A resolution was carried unanimously affirming the desirability of establishing a Grain Board, with a legal status.

MEAT EXPORT SEASON.

, SMITHFIELD MARKET.

(PEIS3 ASSOCIATi&Jf IBLMBAU.) WELLINGTON, March 39. The New Zealand' Meat Producers' Board has received the following cable from its London office, dated March 27th, 1926, advising Smithfield delivered prices at that date as follows (prices for the two previous weeks are also shown): —

New Zealand wethers and maidens—Canterbury quality, selected brands, 56-under, 27-8-25, 9id, 20-3-25 9Jd, 13-3-25 9id; 57-64, Sid, Bid, BJd; 66-73, 7d, 7Jd, 71d;; other brands, 66-under, Sd, 3d, 9d; 57-64, Bd, Bd, 8d; 65-72, 7d, 7d, 7d. New Zealand ewes: 64-under, 7id, 7id,.T}d. Now Zealand lamb, Canterbury quality; 86-uner, lljd, l2Jd, 13* d; 87-42, llgd, lljd, 12d; 4340, lljd, Hid, ll|d; seconds, H|d, Hid, llgd; selected brands, 86-undor, llgd, 12} d, 12Jd; 37-42, llid, 11 Jd, 12d; other brands, first quality, 42-under, 11 Jd, ll|d, 1133; seconds, Hid, lljd, lljd. New Zealand Beef: Ox fores, 4id, 4gd, 4gd; ox hinds Bid, s|d, 6|d; cow fores, 4d,' 4Jd, 4Jd; cow hinds, 6d, sd, sd. Argentine chilled beef: Ox fores, sd, sd, Sd; ox hinds, 6gd, 7d, 7d. Argentine frozen beef: Ox fores, 4Jd, 4]d, 4|d: ox hinds, 6Jd, 6Jd, 6Jd. Frozen pork: SMSO'.b, not quoted; 120-180lb, BJd, BJd, SJd. Ftossea veal: Not quoted.

AMERICAN WHEAT.

(yi CABLE—PBXSS ASSOCIATION—COPSBIGHT.) (aTTSTBAIJAX AND K. 3. CABUE ABSOCIATIOK.) (Received March 29th, 5.5 p.m.) CHICAGO,-March 28. Wheat options are quoted as under:— May, 157& cents per bushel; July, 141J cents; September; 131J cents. afar wheat'broke cents per bushel on the Board of Trade price. The "bearish" spirit of traders is largely due to reports of excellent weather over the belt for the growing crop, which is added to by the general apprehension regarding- the Federal Government's threat to investigate the grain trade, owing to the recent spectacular declines.

BORING FOR OIL.

i . ■ (tbxss association txlzgbax.) SEW PLYMOUTH, March 28. Tannafci Oilfields, Ltd., reports that the Tarat* bore is down 1106 ft The hole ia wet and progress is alow. The Moturoa bore is down 250 ft and is reamed to 215 ft for lgjin casing. A few feet of difficult ground has still to be reamed.

DAIRY PRODUCE.

Messrs A. H. TurahuU and Co. are in receipt of the following cablegram from their principals, W. Weddel and Co., Ltd., dated London, March 27th:— » "Danish butier, 316 a. to 218s (lost week 224s to 22f0); New Zealand unsalted, 182 a to 134s (186s to 190s); Now Zealand salted, 168s to 172s (172s to 1745). Market slow. .' "New Zealand cheese—White and coloured, 100s to 102 a (10j2» tolWs). Market quiet."

Frozen meat shipped from New Zealand for the' season -up to March. 15th, is as follows:— Beet Mutton Lamb Qra. C'cs. C'cs. 1924— November 13,510 110,331' 27,194 U.K. December 11,579 142,056 204,746 "U.K. 25,250 — — G. 1925— Jatraary 7,480 108,173 380,326 UJC. February j2,677 290,113 704,594 U.K. 5,199 — — H." March 1-15. 21,104 178,257 191,483 UJC. . v 4,138 — — H. . 66,347 828,980 1,508,343 U.JS.. 25,256 — • — G. .'.-■■I 9,382 — — H. (U.K., United Kingdom; G., Genoa, H., Hamburg.) Killings at till works during the season up io March 16th were:— North South Island. Island. Total. Beef -(quarters) .. ; 190,217 3,926 194,143 Wether mutton (o'cs.) .. 824,983 65,192 890,180 Ewermutton (c'cs.) 472,039 , 69,807 641,846 Lamb (c'cs.) ..1,548,227 1,158,837 2,707,064 Pork (c'c«.) .. 23,815 274 22,589 Boneless beef, (frt. c'cs.) .. 96,834 .18,127 114,961 (Sundries (frt. o'cs.). 20,184 , 2,790 22,974 Stookaon hand in New gealaad at March I5th were:— North South ; Island. Island. Total. Beef (quarters) ..-.« 124,990 3,494/128,484 "Wether, mutton (o'cs.) .. 328,661 38,501 367,163 Ewe mutton; (o'cs.) 268,979 55,899 324,878 Lamb (c'cs.) ;. 466,544 587,575 1,054,119 Pork (o'cs;) 9,537 274 .9,811 Boneless beef (frt. tfca) .. 56,183 11,612 67,795 Sundries (frt. c'cs.) 14,017 2,281 16,248 Stocks of froian meat loaded into steamers not departed from. New Zealand as at March 15th were:—Beef (quarters), . 7021, mutton KcwcMes) 27,141,. lamb (carcases) 171,101.