COMMERCIAL.

North Otago Times, 24 May 1909, Page 1

COMMERCIAL.

By Eloptric Telegraph.—Copyright. Per Press Association deceived May 2'-', at !) njn, . London, May 21. The wool sales closed linn at top prices. OAMBU GMIN AND WiODUCE MARKETS. North Otogo Times Ollice, Saturday evening. lu the earlier part of the week there was some activity in wheat, aud a fair amount. of business was done. But on the announcement being made that the'Moiu 1 Millers' Association had reduced the prico of (lour by £1 per ton millers who were in ita market withdrew, and buying' orders were cancelled in tho meantime. There seemed lo bo a gieater inclination on the part of holders to sell, and a few thousand sacks changed hands during two or three days. Bales for tho most part were of velvet, for which the prevailing .price was 4s net on trucks at 'country stations. For mixed lines the prices obtained were scarcely so good, being 041 ml to 3s lid net at country stations, and straight -parcels of Tuscan were worth about the same money and red chaff from 3s IOJd to 3s lid. Though an advance in the price of wheat was reported from Home during tho week, there has beer, no response in the New Zealand, markets as yet, and that may bo accepted as an indication that shippers hold sullicient grain l to fill all spacs available. What may be the position in the esrly future it would be diil'Ciilt to predict, for much depends upon the course of the 'Home market and the facilities offering to get New Zealand wheat'to Lo\vh\ before tho European harvest comes in. There has been very little dbirtg _ in oats, and prices tiro a shade easier. Feed (fori 011s havo been sold at Is ?.id net at country stations, and good.milling are worth Is 'ld. Duns are not readily obtainable, and really prime samples' would command up to Is 4d net at country stations, whileDanish arc quoted at Is 2s;l. - • Potatoes are firmly held by growers, and the amount of business passing is consequently small, Sound Derwents and l;p-to-Dates bring £3 10* net at country stations, but holders look fur higher rates later on.

DUNEDIN MARKETS. ' \ Daily Times,) i Locally the actual business being i done is extrcmeiy small, only an odd | millers' line changing hands. 0; ! Southland velvet ear wheat 2000 -sacks! ] went to millers during the week on ; tiie basis of 3s lid on trucks at roun- i try stations, less commission. From ; Oamaru a few sales are reposed at from 4s to 4s Id, on trucks, and this 1 seems to be the ruling rate. North Island millers showed no disposition te purchase at Is 2d lo 4s 2ji-d and 4s 3d f.0.b., sacks extra. In other directions ' the week witnessed that which' was inevitable from tlio moment of the declaration of New Zealand's surplus and the recognition of all availably wheat being required in the' world's markets-the arrival of shipping' at our ports to carry away the wheat. A number o! vessels are in sight, while some hnvo loaded and are on the point of departure. The great aim. of shippers is to catch the Loudon market before the now yield ol European harvests is made available,' early in July : therefore, every effort is being made to secure the despatch oi the "vessels will) the least possible waste of time. It has been known that wheat in large quantities was stored at northern ports awaiting shipment, and the extent of this quantity is now indicated by the number of vessels coming forward. At . least three Scales liners will carry wheat to •London. The first, of these is the Clan .Grant, which left Lyttelton on Wednesday last with nearly 8000 sacks of wheat on board, for ■Timnru and . ■Bluff, to complete her loading.. .A! Timaru she was expected to load up about, '20,1100 or 31.M100 sacks of wheat for Avonnumth, while the IJltill would see her loading completed with oats. She will be followed about the middle of the following week by the Agapanthiisj, which again will be succeeded' by the Han M'lntyro, about the middle of June. The Arriuo, of the same lino, now in West Australia, will also be available Inter on for freight, The former three of these will load at Timaru and the Bluff for wheat and oats respectively. The Agapaiithus is expected to take 30,000 ■ sacks of grain from both Lyttelton and Timaru. The Clan Leslie, & turret steamer, may also be available, In addition to these vessels the Banffshire and the Nairnshire are duo to call .it Diinedii). where, 'there is ift store both wheal and oats awaiting shipment. These shipments should reach London before the new crop is available, and should accordingly meet a good market. The basis on which the shipments l are being made is 4s 4d to 4s 5d f.0.b., s.i. Statistics are not yet available to permit of any estimate; being formed as to the. 1 amount of the surplus so far export- ■ ed, but at the samo time there are to be found, those who predict that shippers will, unless careful, overship.

Chick wheat is plentiful at 3s lid to 4s f.0.b., s.i., or 3s Ad to 3s lOd ex store. > ■The oats market locally is much on

> ■ ."'•«;,'' 'lin-Jl'r :'''7T.' : '."". '■ ' a par. with last .weeks, rates, except in so 1 far 1 as'iA,:'grado:G'drtohs.aro'don■terned,, which .on account of shipping operations are" a"trifle firmer,' '■" ','. Lpcally, tliij remarks", made upon shipping being ' uyailablo for wheat apply it toj oats. 'The demand from 'London'.is'.fqirly',good)",,,and shippers can dp, .business if 'freights are 'available. ;Th|>3e,;being' f now, in sight,, the stocky, ; accumulated .' iii anticipation j : will ; Clau Grant', will ■visit the Blufl;i early next-week to take' .about.so,ooo:sacks'.. She will be fot-

'lowed, by.-,the Agapanthus, whidi. .has bookings- for ,10,000, „to ,15,000 sacks, while the Clan M'lntyre,' due about tlio middle of June,-will -take away 30,00(T sacks. In addition tho llnnlfshire and' Nliirnsliiro will •'tako from Dmiedin ,and the Bluff .further quantities. ' Business is also being done v ia Australia in the. way of transhipment parcels., 'jFrpm' Sydney there.will leave .thd'Toncles, of tbe'.Aberdeen', White Star line, the Runic; "of the Australian TOto Star,, and the Calchas, Tho cargo of these vessels will be taken. from Timnrii/. Oamani,. and tho Bluff by intercolonial cargo boats, and will,bo transhipped directly to, llicin. Business by this route is being participated in by local shippers, London buyers, and also Australian merchants. The freights suitable from Sydney aro ■from- 15s ;to 17s Od, Complaint is ifcade by somo iiunedin merchants that AW .impression seems prevalent in Australia thai all Now.Zealand oats come from th 0 Bluff, and that Otago's port canno't secure. direct shipment; but the explanation seems to lie in the fact ■that'large lines, bjy considerations of s storage and railage, do gravitate to the Bluff, and thoso lines which aro shipped from Ddnedin aro a nurabor of accumulated smaller lines tho incidental expenses connected with the . securing of which have been greater. 'A grade Gartons are of course- in heavy demand for shipping, and the price rules about Is 10!jd f.o.b.s.i. B grade is less in demand and can be bought, at from Is Sid to ■ls 9d, with B grade at from Is fiid to h sd. B grade- is in heavy supply and/ light demand, and may become a drug in the market yet. It is predicted thero will bo a range of as much as fid per bushel between A Gartons and B sparrowbills. In consequence ol the good rains experienced in Australia the demand for oats for consumption there has ceased. North Island business is also quiet. Feed oats ex stoi'o are worth from Is 5d to Is The Aparima, with her cargo of sacks, is due in Duncdin on Wednesday next. Butter—Dairy pats, 9d; milled, 9d to 9}d; separator pats, 9d; bulk, Sd to !)d : ; Taieri and' Peninsula pats, 11-Jd (jd rebate for cash); Taieri and PenI insula bulk, \[\i. '

-Potatoes-Prices ruled, on a par with last week's. Prime Up-to-datcs, .13 12s Gd to. £3 15s ; medium to good, .CD to'£3 ss; interior, £2 per ton (sacks in), .E^gs—Fair supply ; fresh, Is lid; preserved, Is 5d per dozen. Poultry—Hens 2s 9d to 3s 3d per pair; roosters, 3s 6d to 4s; ducks, 'is ,to 3s Gd, best 4s Gd; turkeys-hens fid, gobblers .Gd to Scl and 9d per 11), according to weight.

THE GRAIN MARKETS. (Timaru Herald.) Though business has not been animated on tho local market during'tho week, the sajes which have been mndo indicate a 'decidedly firmer lion 9, Wheat is quoted to-day at 43 Id, delivered Timaru, but one or two sales liavo been made at a slight advance on this figure. One sale was made at 4s Id, on trucks, Tcmuka, which, is equal to 4s ljjd delivered -Timaru. This was for a specially good line of wheat. If prompt freights were obtainablet it is said that tho prico would increase immediately, but freights are hard to obtain. There is l , however, a large quantity of grain now being shipped Home, and it is predicted that more than the exportable surplus will bo sent away. This being so, tho price is expected to materially increase before next season, and there arc those already who are looking l for prices ranging from 4s •Id to ss. Millers are not at all keen buyers at present, and at'o offering 4s per bushel, delivered Timaru. The oats markot is also firmer than it was, but not many oats are offering. There isi a little demand for shipment, but northern buyers are waiting to see the result of tho June threshing in thfe south before making any extensive purchases, Threshing has "been delayed owing to the shortago of sacks, but supplies are.expected to be to hand in a few days now. To-day A gradeGartons' are quoted all Is Gd, B grado Is 5d to Is 5Jd, Danish Is IJd to Is sd, and Duns Is stt to Is SJd, dc-

livercd Timaru, sacks extra. • There is said to bo a fair quantity of barley in tho district, but there is no business passing in it, as the quality is not up to the mark. The potato market shows an improvement on last week's quotations, but only on tubers which are guaranteed free from disease, Such lines hnvo been sold during the past fewfew days a't from £3 to .G3 7s (id pe; ton, delivered Timaru, sacks extra.

; ST, ANDREWS SALE/ Tho usual. fortnightly sale was held at St. Andrews sale-yards on Friday. The yarding' was a' tairly large one, comprising .principally store,.: lambs. Tho sale was a. dragging' one, but for all that the bulk of tho entry changed bands at satisfactory prices. Actual prices v.rro as follows : Eat lambs, 13s ■sd ; fat eives, Ss, Ss. Cd to i)s ; fat ■wethers, lis 4d ; sound-mouthed ewe? t0. ; 14s ; 2-tooth ewes, IBs Id.; fullmouthed eves, (is (id: store lambs 7s •id, 7s oil, fls, 9s scl to Us 3tl: ewe lnmbs, lis Oil; store wethers, 9s Ifld to l'2s 2d. Cottle sold well a't late values.