COMMERCIAL

Greymouth Evening Star, 2 March 1931, Page 9

COMMERCIAL

WHEAT EXPORT SCHEME.

[by CABLE —PRESS ASSN. —COPYRIGHT.]

(Received March 2, 9 a.m.) NEW YORK, February 2S

With the wheat market responding by lowered prices yesterday, and a protest from European houses, that the step savours of Russian dumping, the Farm Board’s announcement of intended exports has received a varying reception.

Mi- Legge (Chairman) characterised the European, comment ..as “bunk.” He said that the Russian sales were far below the prevailing world prices, “but certainly any wheat exported from the United States will not be sold at less than the prevailing world price.” He insisted that it would probably command even a higher price, since “high quality wheat was now held exclusively by the United States and Canada.”

The general manager (Mr McFarland) of the Canadian Wheat Pool, called the export announcement “the most constructive and reassuring statement that has been made so far,” in that it fixes the amount to be exported. The statement continued to have a depressive effect on the Chicago old May wheat prices to-day, which were bolstered up only by the Farm Board’s purchases.

STOCKS AND SHARES.

AUCKLAND, March 2

Sale: Bank of New Zealand 48/6. Reported: Newmarket 52 per cent. (1952), £9B; Colonial Sugar, £29 10/-; Bank of Australasia. £9 .

DALGETY’S SALE. Messrs Dalgety & Co. Ltd. held a successful sale of stud and fat sheep at the A. & P.Show on Saturday. The principal offering was a number of Southdown rams on account of Messrs Maddeley Bros., of East Eyreton, Canterbury. These comprised some of the best exhibits in the Southdown class yet seen on the West Coast, which speaks well for the breeders. The top price obtained was 75 guineas, and the average 7 guineas. Fat lambs brought up to 14/- and wethers to 16/3.