THE WEAT MARKET

Dominion, Volume 1, Issue 24, 23 October 1907, Page 5

THE WEAT MARKET

■yiEWS : OF ■AN^'AUpKLAJvIJ^EXpEICT;' ■ ; ;.THE'; MopokD^ SLIDING- SGAIJE.""; - J .'. (sir TELippArk;—press. association:].'.;' ''.-I . 'I i ■?'* S'":,?:, : '^' ]^. ok !-?, l ?.?> "bctoUer ; 2^!". ? ... 1 . jSpeaking.tp:,a'.'.'llorald '" jpprpse'ntatjyo to-"' .-day ! rc i lativo: ; tp..thq.'ciatc[pf the.wheatnlarlict ,and; its. cilcct'"oil. tbd , ;. prices', ot .'that.. coin,|inodity,"'ahii of bread,' ulr;.'Peter.., Virtue,-.of .jtlio rtorjiiorn;, Roller Milinig,.Cpn)panyi ex..pressed 'viows tliat wer'o ' by no' : ' means reassuring. • "• ■ ■' " "Jiiv-erythini,:," hoisaid, '[dopendo of courso upon tlio iioiidoii' mariiet', and, it' tjicjrc is a, world's; shortage'of: wheat riW'wiin-'-'tho sggured; and iQiily.i.that .of.tho.yArgeiityio -out,.-.prices. ..niust .roiiiaih-;.ar...rthey : are'.jintilr the/world's har.vest 'hext October.;'.: ' ■'-M'-' , Vi r tu(! I ,'.dre\y /soniCv.compaTiaoiiSiv be--twecn | .. i tjio;.,presentisituation;' ; ,and ,'thatr.at-, "tending provipus 'sljor.jidges;in>tho-wheat...sup'-' ,;■,'■ JJufjing • tho.;Australian 'droughty':of; ..18!)j3'.ho..saijij ..the; recor.d, pr'icq. for; fioui\.=was. six-aiid T i'our])cniiy wheat.,-, This i'wa's'iri the 'months pf,,'O6tqber ) ,'jNovcmber : ,and December.'" ' Wheat!'was "tiie.n '335.' to ■}iis. 6cl. por_.qμar,ter (reckoning .eight bushels .to thcr quartor , ) ' ih' y *L'onclbnJ 'against - tho present '-price vforvwheat'iii'jjonrtbii-.of'"44si'u - df per ■qilhrtfar. s Thisildrought of .1896 was accompanied'byf an 'Indian' famine'. Tlio. 41b' loaf was though N<jvembcrj;.Deceniber/' ; aiid January-months)') Bd'."- iir Australia. ».''During, the■'Au'stralia.in; : drouglit':,of" 1902:-and '190J similar prices ■ruled 'there; H'ith : wlieat"a't : 34s.Cdi tc 35a.' iir'London:- I.:, ;'.•::■ .•:■. .i> !■; ':■■;- ■ ~- "The present' Australian drought," added' Mr. Virtue, "is again-aiigmontcd by Indian famine and Y by shortages.,thr.oughout tho world, with wheat 1 at , a'record prico of 445. 6d. in'iLondon.i AVe find thread .is 'nowi/d. the'.4lb.iloafi in, Australia with t. the average ■ price of.;flour y -.£-11 ,vl7svf 6dv- to? !'£l2.-ss; .•:vln• ■Nov.erabor ,'and Decembtir, 1 during; thorprpvi- , ons drought,, -tliciipric'p. iof!:tlio. -lib' loaf rose to • ;Bdi-.>vith $oi\r;nt,t£liiM'j£ls;- .lYoir cannot: land r-.Calif.ornian-j.v'hoa't Ilioro-iat:! under :55.: 6d.-.;c.i;f.;i(cpst,'.insuraiic,e;aridifroight) oriwith duty Ssii.lljd.- on.lAuckfnnd; wharf. .To-day.'s :pricerin,,Sydneyi is.:ssl.fJßtl.j [ p i 6r rbushpl.. In New r Zealand it:.JS|U / s. i '9.d.- ) '|and hero. we..are .justiiiiiishing -the, taii.eiidipf .ai.drought with our j harvest i,three;nipnths A distantj;andf:'the usual"iwot |Weather, i cpntiiig6ijcies to jallpw for..'j It is,r^hcreforp,Vi.anjiarent,,-that',; .our i owij■ new..season,',s wjibat,' \vill,iliot,ppeiVAiiKler '.55:V,6d.,..if ;ibi,if "the- ~markots.:i;pmaiii.,'as..at; present.^, duty .br ; sliding, scale' : .in itho,w,prW,,,fvill regnlate'.'.tho I'The:,presb'iit.proposal to 'aclon't.-a, sliding' only f . a menace to', ■ farmers . iyboV may, sickp.ii liilj', the, continual threat; aiidvleayo us at ,'thc mercyi.pf foreign,' lfdivprs m.'tinui's of,"war^and/dj'oygliis."'. y. I In reply tA.',fu);'Ui.er.' v ques^ip^' ■snjd:. '"rii6..liidiaii : crpp .(Jamiai;.y 'aiid'li'ebrur ary)■ ..was a. .failure,; . ; tjic •ArgpntinciVcrbp ..was not'.'yet ,harvc>stiod,;, tlic Aust.ralian; : ,(a- t De'ceni-| ber;crop),Was: already, doomed, 'because of the" .drought';■' tho Kb'w .Zealand "crop.,'sas .'three jmonths' distant; whilst Adelaide iif jbadly off, ii's'during.'previons"(lriiugh'ts;'. 4 '-'jtc-'' cording to; cablps i] ..lio'''liad ! .;'' '.'therV jthfeatpncd'to lie'Jnd "decreaiiefm 'of .br(?a((; I'.'or jSvpuld,'it increase t for ! tha't.liiiijtteV.' .ln'tlio iatter respect' it 'was'|fortunatp.'tjie|-p iwajs' ii'o , ' farthiiig 'in' 'vpgu'o!' ' ; He''i)ri)d(lced' i 'a i 'tblegrain'-fr'o'm' Tiiiiari?whicli'"!itatqil tliat it 1 ' was oxppct'ed' , tlioro that , the';'price"of"tlbiiV ,wilulil i-oiiclv; '&U: (it; 1 was '[now' filS'Jf. tit ' any .moment. 1 . Aiibthor/inos'sage frpiiV' : 'tli'p,'.Sainc' ,'plarrj « - 'a4 l! t6-":tliiv.o.fl'cct j 'that' Jonly' -f'oiif' Inriniirs iii that'.' district' held' l: Vlibiit •totalliiis about JOOO Woks, aiid;'.tliat'Ui'Mr'reservb i \vas'. i Gs.'"c'ouiiti-y '.stViititirf&. lJ! '■'"■" '>''■ ''■'"■.'• ; "There''in 1 -no'-wheat iii : thcj lmnds'bf (,ne' grain ■ miireliants' r br.' ppecula'tofsj."-'.'' said '.iVI ri ■ ; VirtuoV , "Only 'the farnWr ;is ; :h'bHiiig."'■'■ ■conrlnilefl iby'rcinarliing'- that tho 'Australian drought- seririiisly : air.eeti;d'!na{men.l ;; nnd 'all' forage. 'The baliei' was ■ having 'a 1 "tough , -' tjiiiK.'cf it, what with'.-tlio.-ihcreasd in i: i:os't : ' of flour' anil l tho ■'higher- cost , of. 'hb'rAb feed , in addition/■ It air mcanv'giving "cxti'a , credit' and - having nioro money ou'hisu books';'- ■.'-".