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COMMERCIAL.

A New Plymouth message states : The'war has not affected trade at this port. In the 10 months ended October the cargo handled totalled 94,590 tons, as against 82,608 tons for the 10 months of last year, and 92,467 tons for the whole vear, a marked increase in the direct imports from overseas. AUSTRALIAN WHEAT. A SHORTAGE PREDICTED. Tho estimates for tho wheat yield of tho Commonwealth, as publshed in the 'Melbourne Argus' of October 31, make somewhat alarming leading. For the coming harvest the total probable yield for the whole continent is estimated at 26.000,000 bushels. Last j«ar the yield was 103,887,998 bushels, "and the year before 91,981,070 bushels. At a normal rrico the consumption of the Commonwealth is 35,000,000 bushels of wheat, and although there will be a fair cajry-orer from last season, the ' Argue' predicts that importation will be neoee6ary. "No doubt, however, some economies can be effected in consumption under the stimulus of dear wheat, without depriving anv member of the community of actual food," says the 'Argus,' "as there is always an "enormous waste of breadstuffs. . While tho price of wheat is nomiliiJly held at 4s 9d by the law of the land, business-is suffering. An upward movement under free conditions of a local market would enable a correct value to he found, while, in addition, the consumption would Ik> checked, as, indeed, it is imperative that it should be. If the price of wheat is to be regulated by law, the quantity of wheat harvested for grain in Victoria will be negligible. Farmers will reserve the whole of the crop for hay, for which a much better equivalent than the present wheat pries is assured." MUNICIPAL ENTERPRISE. COLD STORAGE WORKS. Press Association—By Telegraph—Copyright. SYDNEY, November 18. (Received November 13, at 9.50 a.m.) The Mayor officially opened the City Council's cold storage works, which are considered to be the best installation in the Southern Hemisphere, and cost £BB.OOO. WOOL SALES. MERINOS~bEARER. Presa Atsociation—By Telegraph—Copyright. MELBOURNE, November 18. (Received November 18, at 9.50 a.m.) At the wool sales there was keen competition, and prices—excepting for faulty and interior wools, which were unchanged —showed a 10 per cent, advance. SYDNEY, November 18. At tho wool sales there was good competition for super merinos at satisfactory prices, but cross-breds were easier, while faultv, neglected, and burry crossbreds showed a heavy fall on opening rates. Greasy wool realised up to per lb.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD19141118.2.41

Bibliographic details

COMMERCIAL., Issue 15653, 18 November 1914

Word Count
403

COMMERCIAL. Issue 15653, 18 November 1914

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