COMMERCIAL

Greymouth Evening Star, 23 August 1930, Page 8

COMMERCIAL

GRAIN AND PRODUCE. [PEB PBESS ASSOCIATION.] CHRISTCHURCH. August 22. The potato section of the market stil remains the chief centre of interest. This week, there has been a further slight easing from the £2/10/a ton on trucks reported on Wednesday. The value to-day is £2/5/- to £2 7/6 a ton on trucks to growers, the lowest figure that has been known in August for very many years. Dakotas are no better, and sales were made today at 62/6 f.o.b.s.i. The Wingatui, which left from Lyttelton this week, took 2760 sacks from Timaru and 3750 sacks from Lyttelton, making a total of 6540 sacks. * The Waipiata is to load at Timaru early next week and at Lyttelton on Tuesday and Wednesday of next week, and it is indicated that both will take large quantities of tubers North. Small seeds, o'ats and wheat show little market animation. Millers are buying occasional lines of next season’s wheat at 5/9 f.o.b. or 5/6 to 5/7 on trucks, according to stations. Fowl wheat is firm at 6/2 f.o.b.s.i. TARANAKI OIL. NEW PLYMOUTH. August 22. The first showing of oil occurred in the Moturoa Oilfields Company’s well to-day, and the experts consider it augurs well for a better flow. Heavy gas pressure was met at a. depth of 1740 feet, which was augmented at 2123 feet. When gas blew out violently it was unexpected, and presented a difficult problem, the pressure at times being 600 pounds to the square inch. This morning, control of the gas was obtained, and liquid mud was pumped into the well by high pressure pumps. During this process, which necessitated circulating mud inside the casing, it was noticed that a good showing of oil accompanied tho mud, and collected on the top of tho sump. The oil is very light, indicating that, it has filtered through strata from a greater depth. The intention now is to cement off all the water above the point where the pre sent oil indications occur, by forcing cement round the outside of the eight inch casing. The level at which oil was obtained in the same area many years ago was about 2300 feet. This depth should be reached within five or six weeks' in the Moturua. Company's well.

NATIONAL DAIRY ASSN. WELLINGTON, August 21. The Directors of the reconstructed National Dairy Assn, of New Zealand Limited, met yesterday, and proceeded to allotment, over £40,000 shares having been applied for. Mr Arthur Morton was re-elected chairman. / RABBITSKIN SALE. Dalgety and Co., Ltd (Dunedin) report:— Medium-sized catalogues were offered at Tuesday’s sale. Competition was restricted to only a few buyers, but the demand from them was keen enough up to about last sale’s prices. There was a tendency for prices to be lower, and the market can be quoted unchanged to slightly easier. A further decline of up-to 20 per cent is expected at the London sales to be held on September 24, and while to some extent this has been anticipated and allowed for at recent sales here, there is no doubt that our market would show a further drop if it were not for one or two American orders, which are at present keeping prices steady. As soon as these cease, as they have a habit of doing at any time, we think prices here for winter grades will go lower. The following is the range of prices:—Runners and suckers up to summers 7Jd, light racks 13d, Prime racks 12J, dawn autumns 15d, early autumns 16.3 d, late autumns 24d, incoming winters 34d, early winter bucks 44d, early winter does 30d, winter bucks 353 d, first winter bucks 60d, prime winter bucks 633 d, winter does 333 d, first winter doos up to 47d, prime winter does 54d, second spotted winters 19Jd, outgoing winter does 29d, second winter broken 14d, first winter broken ISiJd, second winter black 16d, first winter black 28d, milky 83d, springs 15£d, hareskins 93d, horsehair 15d.