COMMERCIAL.

Press, Volume LXVIII, Issue 20629, 19 August 1932, Page 16

COMMERCIAL.

(CONTINUED.)

WHEAT-GROWING. | I USE OF UNSUITABLE LAND. j r .; 5 fairly generally acknowledged rl, at lower prices for wheat- necessitate serious consideration as to its growth, uh-erves the annual review of iJ ne ; Gould. Guinness. Ltd. Be that as it , pa y we are satisfied that following the 'mpeal in the war years to grow Vilea', and the attractive prices that u L >re available, many farmers Inn e 1.,-en tempted to grow this crop on land viiiili is not "wheat land as recognS in pre-war .years. Ilow many , of this cereal on light- land have impro\ ed their bank accounts lrom this .source over a long period ot Years'- Is there not a tendency to torget the average crops and the failures in bad seasons which had to he ied off. )■ bv the remembrance of the heavy yields harvested 111 exceptional seasons" is not wheat being sown 011 land known to be unsuitable, on the chance of realising the good return which would be so acceptable in these hard tinu- v Arc such growers not apt to forget that every wheat crop on this class of land, besides being a financial gamble as to the return, is taking a toll from the soil, which, with the impoverished quality of the grass for several yens, will react 011 the returns from sheep-grazing. The heavier the wheat crop, the worse the subsequent deterioration. If Lincoln College or some other authority could lie afforded facilities to study this oue.-tion closely, we think that it would be of great benefit to the New Zealand agricultural farmer. 111 these days, all possible information to prevent "a penny wise but pound foolish'' policy is urgently needed —the difficulty is to get reliable knowledge. WHEAT IMPORTS.

QUESTION OF SUPPLIES. Ai :i meeting of tlie Timaru Grain 3;erehaiits' Association, held yesterday, it. was decided to send the following protest t-o the Hon. I?. Masters, Minister for Industries and Commerce, against the importation of lowl wheat ii'to the Dominion:— • The South Canterbury Grain Merchants' Association protests against further permits being granted for the importation of wheat into Xew Zealand becauso after allowing for 850,000 lusliels milling wheat for which permission to import has already been granted, and the usual importation or iiour and. wheat, there is more than sufficient Xew Zealand wheat to cover requirements until new wheat is available. Calculated on basis 100 per cent, old wheat being used to end of February, 1932, carry over was at least 500,000 bushels (actual figures would be increased by : amount of new wheat used to the end of February, but this does not affect position revealed by our figures) 6,024,992 bushels were threshed to July 21st, 1932 (see July Abstract). Usual importations hour and wheat (flour reduced to wheat) 750,000 bushels. Special importation of wheat 850,000 bushels, a total of 8,124,992 bushels without allowing, for threshing returns still to come in. This, on estimated annual requirements of 8,500,000 bushels, is sufficient for New Zealand's requirements to February 13th, 1933. New wheat usuall3 r available Blenheim early January, Canterbury late January. Largo quantities Oamaru and Timaru wheat available at present at 4s 8d f.o.b. for G.W.F., and 4s to 4s 7d for undergrade according to quality. North Island buyers not now operating pending announcement from you regarding importations."

CHICAGO WHEAT. f(CKITED PRESS ASSOCIATION' —BY ELECTRIC ' TELEGRAPH—COPTKIOHT.) NEW YORK, August 17. Chicago .wheat figxircs are quoted as follows: August 2nd. August 17th. (Cents a bushel.) September ... 4!) 506 December .. 52g 54jJ May .. .. New York—Cash, 61i cents a bushel. . , ! FLEECE AND CRUTCHINGS. VALUES AT WELLINGTON SALE. (PRESS ASSOCIATION TELS3BJUI ) WELLINGTON, August 18. A sale of crutcliings and a small quantity of fleece wool was held to-day. Between 1500 and 1600 bales were offered to a fully representative bench. Competition was not particularly keen hut there was good bidding for best crutcliings, and for bellies and p.'feces free from scied, the former being bought mainly by scourers and New Zealand and Australian mills. Competition on behalf" of Japan was lacking. Superior assorted crutcliings made up to 4jd, medium to good as high as 3ijd, and inferior and seedy went for Jd to 2Jd. Some fleece wools sold better than at the last sale in April, the advance being id to Crossbred bellies and pieces made from Id to 4d. Fine lambs' wool sold up to Od, medium up to 4d, some inferior fine halfbred up to 6d, medium crossbreds' up to od, and coarse crossbreds to 41d. ' • The following is the official range of values: — , Fine halfbred, 56-581b — d. d. Inferior ... ... 51 to 6 Fine crossbred, 46-481b — Average ... ... 4 to 51 Inferior ... ... 2£ to 3$ Medium crossbred, 40-44 Average ... ... 3J to 5 Inferior ... ... 21 to 22 Coarse crossbred, 40-44 — Average ... ... 3 to 4J Inferior ... "... 2£ to 2i . Lambs — Fine ... ... 6 Medium ... ... 4 I'ellies and pieces— Good to super ... 2\ to 4J Crutcliings '("crossbred) Superior ... ... 3 J to -1* Medium to good ... 2? to 3 Seedy and inferior ... to 2$ Pieces and bellies ... 1 to 4 Locks and stained pieces I to 12 INCOME TAX CERTIFICATES. (PRESS ASSOC'IATIOM IILrGXAM.) WELLINGTON, August 18. The immediate response by income ta>x payers to the facilities' afforded for the payment of the tax im instalments i« regarded as very satisfactory. The IJriuie Minister (the lit. Hon. G. W. Forbes) said to-day that during the first .month th<\y had been on issue eesrttfieatos ttf Hie value ef £32,000 liad been purchased, ;'Che revenue exported from income tax was stated by the Minister for Finance (the Hon. W. Dowjiie Stewart) last session to be c»timated tentatively at £3,300,000.