COMMERCIAL

Grey River Argus, 12 February 1930, Page 2

COMMERCIAL

DUNEDIN, February 11. Sales repotted: Bank of New Zealand, 58/3 (2) National Bank New Zealand, £6/3/6; Commercial Bank. 23/9; Goldsborough Mort., 33/10; British Tobacco, 41/3. WELLINGTON, February 11. Reported sales: Bank of Australasia £ll/10/-, £ll/15/-; English Scottish Australian Bank £6/16/-, two lots; National Bank of New Zealand £6/5/6; Bank of New South Wales, £4O/10/-; £4l, two lots; Union Bank of Australia £l2. GISBORNE, February 11. Taranaki Oil Ltd., report: Gisborn • No 2 well under-reaming shutting off water and drilling. Ran under-reamer to 3778 feet, drilled to 3850 feet in limey shale, and some greensan], mostlv hard but some caving in at 3800 feet, which was muddled off. Gas still showing strongly. WANGANUI, February 11.

The option for the sale of the Wanganui Woollen Mills to a Southern syndicate at a price of £55,000 has been extended from the end of Jana ary t,o the end of the present month. LONDON, February 10. The Indian Loan was oversubscribed, after the lists were open only ninety minutes. The Bradford tops market is dull, with practically no business. Quota tions are unchanged. WELTEVREDEN, February 10. The Government of the Dutch In dies, being the propreitor of the Banga tin mines, declared the usual number of stopping days there. It has caused a greater restriction in output than the Malayan mines proposed. MELBOURNE, February 10. ; The Inter-State citrus conference has just concluded at Mildura. The question of marketing of fruit in New Zealand was discussed. It was stated that the North Island was the natural market for New South Wales growers, whilst South Australian fruit went to the South Island. It was decided to regulate supplies in order to avoid tin necessary competition. The Federal Citrus Council was authorised to control the export of fruit to New Zea land.

Grain Market

CHRISTCHURCH, February 9. The business passing on the local grain market is still very limited. Trie prices for wheat remain unchanged. , One or two samples of new whe?u found their way on to the market this week, and wheat is being offered fairly freely forward delivery, but buyers are not readily found. There seems t<» be a fairly general opinion that •he 'quality of the new wheat will be equal to that of last year, but that the yie; 1 (will be up to five bushels per acre les? I than it was last year.

Old wheat continues to move off steadily. To-day’s pool price remains at 5/9 per bushel for Tuscan, 6/- for Hunters, and 6/3 for Pearl, on trucks. The ‘‘pool’’ price for fowl wheat is 6/2, f.0.b., but with the advent of the new crop this price is expected to, drop. The demand for fowl wheat has already eased off a little.

A few samples of new oats are now coming on to the market. For a line of B Gartons at 3/5, on trucks, was offered, but the grower declined to accept it. There is no sign of any A’s so far. A few lines of Duns have been sold as high as 4/6 on truck;, and Algerians have brought up to 4 on trucks. The store* are practically clear of old oats, and the new season’s crop will come on to bare boards.

Old season’s chaff is very scarce. 1* is worth £5/15/- a ton on trucks am*, prompt delivery, while new season ! s quoted at £4/10/- on trucks. The onion market is quiet. There ino inquiry from the North Island a: present. The shipment of onions to** Vancouver to which reference was made a few days ago will be sent in April. The crops are looking well and the value to-day is £3/15/- per ton f.o.r. on trucks. There is no demand for shipment. It is too early for that yet. To-day’s quotation is £5 a ton on trucks for April-May June.

The. small seeds market still lacks animation. Some white clover was sold during the week at Bd. ami 9d. a pound on trucks. There has been a little inquiry for red clover, and •*•• few tons were sold as between met*

< hunts and merchants, but the price remains the same to farmers, namely 4d. to sd. a pound. Good Plains cocksfoot is worth Bd. to B}d„ Akaroa machine-dressed 13 Ad.. and farmers’ dressed lines Bd. to 9d. Italian an I Western Wolths are worth 4/6 a bushel on trucks, although a little higher has been paid for special lia s. Good lines and perennial are quote] at 5/- to 5/3 a bushel. DUNEDIN, February 9. Millers are not displaying much in terest in the wheat market at the present time. Quotations rule at 5/9 per bushel, sacks extra, on trucks countiy sidings, for duscan, 5/11 for Hunters, and up to 6/2 for Velvet These prices are epuivalent to those fixed by the pool for deliveries up to the end of May. The fowl wheat market is firm on account of supplies being short in Dunedin. The local stocks have been worked off and merchants have to draw from Canterbury for their requirements. ’ Up to 6/- per bushel, sacks extra, is the current quotation in Canterbury, this price being equal to 6/6, ex trucks, Dunedin, prompt delivery.

Stocks of oats are. lighter at this period of the year than has been the case for a number of years. The demand is not very great, but it is sufficient to cause a firming. Salos of A Gartons have been made for prompt delivery at 4/- per bushel, f.0.b., s.i.. and this price is being asked by forward sellers for spread delivery, April to September. The current value of A grade Gartons, prompt delivery, is 3/3 per bushel, sacks extra, on trucks, and 3/- for B grade. Millers and me* chants are prepared to buy at their prices, eithen for prompt or forward delivery. A number of farmers weie unable to plant wheat owing to th 3 wet weather at sowing time, and thev then turned round and planted oats. It. was thought that, this would met i increased oat returns, but the oat crops

wore affected even more by w. t weather than the wheat crops. The yields, therefore, will probably not. he so great as in previous seasons, and this has resulted in the higher prices now being paid. The demand for chaff continu s quiet, with prices unchanged. Best quality is selling slowly at £6/5/- p •’ ton, sacks extra, ex trucks, this price being equivalent to £6/10/-, sacks extra, ex store. The only interest being displayed in potatoes is on a forward selling basis Odd lots have been sold in this district at £5 per ton on trucks, sacks included, for forward delivery. The local demand for prompt delivery is

for small lots only, and these are sei ling at £B/10/- per ton, sacks included, ex trucks. Flic new season’s seeds are now being offered from Canterbury, and on account of i lp* short supply of ryegrass high prices are being paid for this variety. The firm market is considered to be only temporary, as, in view of the general farming outlooK, there will not be the same area sown out this season.