Late Commercial

Dominion, Volume 29, Issue 202, 23 May 1936, Page 10

Late Commercial

GRAIN AND PRODUCE Christchurch Markets By - Telegraph—Press Association. Christchurch, May 22. The week closes with the potato market very quiet in Christchurch. There is at present not very much business turning over owing to the heavy shipments made during the last week or 10 days. The prompt quote is £6/2/6 for whites and Dakotas, equal to £4/17/6 on trucks, with Suttons Supreme commanding £6 5/-. Comparative figures of shipments from Lyttelton during the last four years afford an interesting commentary on the potato situation. Up to this time last season 60.992 sacks had been shipped from Lyttelton, compared, with 32,547 this year, 17,687 in 1933 and 49,904 in 1934. Shipments from Timaru this season bear up to comparison better than the Lytteb ton figures-, being to May 16, 1936, 32,725 sacks, and to May 31, 1935, 35.417 sacks.

Christchurch merchants report a pronounced scarcity of pollard. New Zealand does not produce sufficient pollard for its own requirements, depending upon Australia for a certain quantity. Unfortunately this season finds Australia herself very sl;ort of pollard owing to a dry s-eason and a heavy demand for the commodity, notably from pig-farmers. Consequently the Commonwealth cannot supply New Zealand with its usual quota. Moreover, the Australian price is very high, higher than it has been since July, 1930. The demand for pollard has been brought about by the development of the pig industry during the last few years, and it is now sharing with the poultry industry a very large proportion of the output. Of course, when stock foods of any one particular kind become unduly high in price and short in supply, those interested in tlie development of the industries consuming these commodities begin to look around for substitutes. Interesting also is the fact that the price of Australian pollard is about £B/12/6 landed at Christchurch. as against £6/15/- for New Zealand pollard. A cablegram received in Christcliui'ca yesterday quoted pollard in Melbourne at £7 (equal to £B/12/6 ex Lyttelton wharf), and advised that Sydney could not quote. , The chaff market is fairly steady, with quotations unchanged and there are no movements of importance to record in fowl wheat, oats and small seeds markets. the position of all these being unchanged. NORTHERN STEAMSHIP CO. No Dividend Recommended Dominion Special Service. Auckland. Alay 22. 'The Northern Steamship Co.. Ltd., reports a net profit for tlie year ended March 31 of £5064, without providing for depreciation, for which £6OlO is appropriated. This compares with £5829 earned in the previous year after allowing for depreciation. No dividend is recommended. against 5 per cent, paid :n 1935. Added Io the balance on working account is £1995 brought forward, making available £7059. After making provision for depreciation, the balance in the profit and loss account is £1049.