NORTH AMERICAN WHEAT.

Press, Volume LXVII, Issue 20257, 8 June 1931, Page 12

NORTH AMERICAN WHEAT.

DROUGHT ON PRAIRIES. FARMERS FACED WITH RUIN. (TTHITED CBSSB ASSOCIATION—Si II.ECT2IQ TKUSOBAPH—COPJBIOHT.) , , (Received Junu7th, 7 p.m.) WINNIPEG, June 6. The. Manitoba Free Press" in a survey iof wheat crop conditions declares that tho outlook as a . result of drought is the worst in 29 years, Tho drought is general through tho three prairie provinces. - The Premior of Alberta, Mr Brownlee,, says that unless the Government guarantees an initial payment of 50 cents a _ bushel to the wheat-growers there will nob be enough money in circulation next autumn to keep tho country going. He is arranging a conference of the three prairie Premiers, tho Wheat. Pool officials, and Mr R. B. Bennett, Prime Minister of Canada.

CHICAGO WHEAT Mrket.

INCREASED PRICES. (CSITEB J'SESS.— A3SOCIATIOS—BT ■ ELECTBIO c 4 ;. , U'BLSaBiW—OOPTBIOHT.) ; ' June 7 th, .5,5 p.m.) ' • NEW YORK, Juno's. ■ Chicago 1 wlioat ' has reached the highest prices since May 20th as a neurit of ;; reports of the Canadian drought quotations. : Per bushel. Cents. June ... ■ ... G7£ ; July, : • ... , 60 September ... ... . 6Q| ; December ... • ... 63 7-8

OVERSEAS TRADE.

■ MONTHLY SUMMABY. '

r .The Monthly Abstract of Statistics 1 notes that .the declared value ' of >' oxports for April was exceptionally low, reaching ar total of only £2,746,191, a figure ■ 30.i>. per cent. lower than that for the - corresponding month of 1930. and, 'furthermore, 42.4 per cent, below the averago tor the t five preceding years. Tho principal causes ot tho enormous. deficiency are not ditbcult to locate. Frozen lamu and mutton carcfta'os liavo.been feoiug. torward in huye quantities ■ during recent months, *o that it is not surprising to find a substantial dscroaso "in the demand becoming evident. Altogether. iho; declared value of lai4b and mutton c&rcases going .aiioat this month has decreased by or 50.7: porj cent., compared ■ with April, IU3Q, i while frozen beet.also declined heavily to the extent of ii: fui'ther £64,000.' Tho 4is>a\jpointing condition of the butter aud- cbfieso market, "has contributed to thV decline, in total. to the extent of. a, furtljer £472,000. Wool, on the other hand, provides practically the , only optimistic, featuro in the month's trade review." For so long' quiescent, this -commodity has at last i taken a turn for the. better. Wool] values . up and. displaying a tend-, ency to remain firip.- with the result that: exports, of wool for the. fiioatjb increased .by 22.V, per cent, in value compared with" April, 1930: N : imports show little variation from the, previous< month, but. the total' vaittp is per oent. jbolow that recorded 'for April of last year, and 31:4 per cent, -below thef average oxperi-i oriced" for the' ,past* five-' years. The principals commodities contributing to thi* motor vehicles, which ehoww a Vlecrcase in value of £228,000; motor. . spirit,, £o9,000;. cotton ' piece- i goods, €s-1,000; < tobacco,' £62,000; and , app&irel.' £sl\ooo. . The visible balanqe of- trade-in "favour of, the Dominion for i the ,'month 'has to '£666.028, a fifeure, however, 64 per cent, above the balance for Ap|'il, 1930,"but nevertheless '61.7' per Cent, below the average J tbo last five,years. ■ ' DAIRYING .

ADVANCES INCREASED. The "New Zealand Exporter's" Views of the immediate future prices for and-cheese could not, be better.expr«ssed 'than their announcement that. the' advances now to be made'to'factories. will be 10d per lb for J butter (tnd * 4jd for cheese. This ip an increase of ,Jd per lb on butter and per lb on cheese. The advances mado 'djiring tthe current season on the of each month have been as 'under— L • ' v ' 1 t / , , - • Bjittur. ■ ' Cheese. > '■ -"'Hdntii.'■ Penceper'lb. t , vAngust r ...- 12 >September ... . • ,6; ■' ■ f .f"Octob6r' .... 10' , • 6J.. V.;-' '... 9s' 5J , • ** - "9 4} Jaiiuary --JO' - ' 4J *• !JiKiridi - 'll ' ■' 4| i, !}A-rW'.;!: *., -j^BOTTER 1 AND» CHEESE. LONDON QUOTATIONS, W#s*puA.' HV,Turnl>ull-»'nd Co., Ltfl., »to. iff' *ec«||il ,01 ;t}io cable.advicp fzoia •ihwr-prijidpah, Wv Write! and Co., t.td>, 2un» sth;—, , > t. r ' * This week. Last week, B»w'pTi'butter 117' to 130 - 119 to 120 -JffwZflalwid—.• r> f < „ , gflied . .. 110 to 114 113 to 116. The market is quiet. Finn. / CJieese, whjta .. SJ) to f5 53 to 66 Cheese, v coloured .. 66 to 56 55 to 57 Canadian, white .. 70 to 74 70 to 74 Panadiaft,- coloured '7O to 74 70" to 71 .The market is steady. Firm.-

GOLDSBROUGH, MORT. AND -CO. . DIVID3ND OF ONE SHILLING. (TRESS ASBOCIATXON TELEOBUt.). .

WELLINGTON, Juno 7. Qoldßbrough, Mort and Company ?4vise that,subject to audit, the diroct®[s propose to roooinmend a dividend °'' lA per share, payable at Melbourne. company in June, 1930,, paid a dividend at the rate cf ,10 per cent, per annflm. This made 10 per cent, for the W> against 10 per cent, and a bonus <>f ,5, per eent, foi somo years ja* / •