COMMERCIAL

Grey River Argus, 20 November 1940, Page 2

COMMERCIAL

N.Z. WHEAT-STOCKS.

CHRISTCHURCH, November 19

A normal wheat yield in the coming harvest even on the somewhat disappointing estimate of sowings recently announced by the Government Statistician, will give New Zealand enough Wheat to last till the 1942 harvest is ready. In making tnis announcement yesterday, the Minister of Supply, the Hon. D. G. Sullivan, said that stocks in the country at present/were enough to last till May,, 1941. The unfavourable spring, which had prevented sowings, was a blessing in disguise, said the Minister because land prepared for wheat had been sown in barley and peas, which were essential to the war effort. “The Government Statistician has now published the estimated area sown to wheat for harvest in 1941. Before the statistician's collection of returns, various estimates were made by interested parties and these placed '■the acreage at approximately 280,000, of which 86 per cent, was sown in the autumn and winter. These estimates were all arrived at before the spring sowing was completed and took into consideration the intention to plant a considerable area in the spring. Because of the very wet September, little spring wheat could be sown, thus accounting for the margin oetween the early estimates and the figures. “There is st’li a probability that the area sown in New Zealand is greater than ithe forecast because many farmers who are not regular wheatgrowers l ave’ sown wheat for which no return has been made and which is tlie’efore not included in the estimate.

STOCK EXCHANGES.

CHRISTCHURCH, November 19.

Sales reported: Ashburton Electric Power Board 41 per cent. 19/6/49 £lO6, Broken Hill Pty. 45s 9d (2), Broken Hilf Pty. 45s 6d. 45s 9d. ,(Received November 19, 5.5 p.m.) SYDNEY, November 19.

Stock Exchange sales to-day were: Commercial Bank of Sydney £l9 10s; Tooth’s Brewery 51s 6d; Australasian Paper 32s 71d; Australian Consolidated Industries 36s 9d; Broken Hill Proprietary 465.

GROCERS’ UNITED STOES. The annual meeting of Grocers’ United Stores, Ltd., (G.U.S. Stores), was held last week. Mr Guy Struthers presided. Despite increases in taxation and general expenses the previous rate of net profit had been maintained. Sales for the year showed an increase of 10.36 per cent. Membership was reported to be 107, operating 122 stores throughout Canterbury, South Canterbury, the West Coast, Nelson, and Marlborough.

Returns showed the annual retail turnover of the company’s stores at more than £1,500,000.