SMALL SEEDS AND GRAIN MARKETS

Press, Volume XCI, Issue 27670, 28 May 1955, Page 10

SMALL SEEDS AND GRAIN MARKETS

(By Our Commercial Editor.) Quietness still prevails in the small seeds markets in North Canterbury. A few inquiries are still being received from ~ the Northern Hemisphere, but these are regarded by the ‘trade in the light of “feelers.” Farmers are not showing much inclination to market waat little seed is still on their hands. The tightening operations of the banks are not tending to improve markets, and merchants complain that prices are so high as to leave no margin for speculative purchases. The flow of seed wheat is still only a trickle by comparison with former years, when wheat could hold its own With small seeds and other farm produce which today are far more remunerat.ve. An inte. eating development in Norta Canterbury is the avai'ability of some 500 sacks of seed of Gabo, a variety of wheat grown last season from seed imported from Australia. Gabo is said to have a high baking quality, together with a good average yield, and is being sent out to farmeis on a contract basis at the instance of a firm of millers. The potato trade with the North Island has yet to get into full swing and. with storage capacity limited, large quantities l of potatoes are being pitted. Erratic I weather has led to a certain amount of second growth, particularly among Red! . Dakotas, but the crop gene-ally, ai- ' though not on the heavy side, should , measure up to the forecast made a few ; weeks ago. The seasonal demand from • the North Island, although delayed, : should nevertheless be appreciable. Shortage of Sacks An acute shortage of second-hand sacks ! is causing some concern on the part, of merchants handling the potato trade. The shortage is the cumulative effect of the . diversion of wheat importations from Australia from sacks to bulk c handling. Dih-ing the last 18 months all Australian wheat has arrived in bulk, and a constant source of supply for second-hand sacks has thus been lost to the trade. Had the present position arisen a year or two ago the shortage would have been even more acute, because up until then lime was mostly handled in bags. Nowadays most of the lime is handled in bulk. The Wheat Committee is exercised over the shortage and is accordingly endeavouring to bring its next shipment of wheat from Australia in sacks instead of in bulk, and thus afford some measure of relief to farmers. Incidentally, the shortage has been aggravated by the marked decline in wheat and grain, production generally throughout Canterbury. Quotations to Farmers Potatoes.—Aucklanders and other preferred whites, £l6 a ton; Dakotas £l5 15s, and other varieties, £l4 15s a ton—all f.0.b., s.e. Wljeat.—Us 6d a bushel (on rail, growers’ nearest siding), with the usual variety increments, plus the monthly holding increments Ryegrass (M.D,).—Certified perennial: mother seed. 35s a bushel, p.p. 345. uncertified, 255. Hl: mother, 355; standard, 345; uncertified, 255. Italian: mother, 32s 6d, uncertified, 25s—all subject to 96/90 minimum. White Clover (M.D.)—Mother, 5s 9d per lb; p.p., 5s 8d; uncertified, 5s 6d. Red Clover (Cowgrass).—M.D. new crop seed. 4s per lb, 98-90. Cocksfoot.—3s per lb (nominal) for good quality farmers’ dressed seed. Oats.—Gartons, Us to Ils 6d a bushel; Algerians, Us to 12s a bushel; Duns, 13s a bushel, and Black, 12s a bushel. All prices nominal. Chaff.—£23 a ton, on trucks, sacks extra. Ryecorn.—2ss a bushel on trucks, sacks extra. Onions.—£2o a ton on trucks, bags extra. Browntop.—4s 3d per lb certified; uncertified, 4s. Partridge Peas.—No. 1,16 s 6d a bushel; f.a.q., 15s 6d a bushel. COMPANY NEWS Fletchers Finals.—Fletcher Holdings, Ltd., is recommending final dividends of 5 per cent, ordinary, 3 per cent, on the preference shares, 2J per cent, on the redeemable “B” preference shares, and at the rate of 5 per cent, per annum on the amounts paid up on the “C” preference shares. The dividends are payable on June 27, ex June 20. Total ordinary payment is unchanged at 10 per cent.—(P.A.) Dominion Fertilisers.—Net profit of the Dominion Fertiliser Company. Ltd., Dunedin, rose by £17,092 to £49,317 in the year to March 31. Profit was struck after allowing £76,658 for taxation (£46,488 last year) and £21,768 for depreciation. With £16,087 brought forward, less £822 in tax adjustment, the sum available for appropriation is £64,582. The directors recommend an ordinary dividend of 8 per cent, plus a silver jubilee bonus of 2 per cent Total dividend requirement is £24,056. General reserve receives £20,000 (£lO.OOO last year), and carry-forward is £20,526 The balance-sheet shows that current liabilities, are up from £117,576 to £158.662. Investments have risen from £79,400 to £111,085, and stocks are up from £69.837 to £109,047. Cash at bank is down from £59,893 to £39,836.