COMMERCIAL.

New Zealand Herald, Volume LVI, Issue 17113, 19 March 1919, Page 5

COMMERCIAL.

GENERAL BUSINESS QUIET. THE PRODUCE MARKETS. General business is reported quiet this week in almost every department. WholeBale houses ate decidedly quiet, but the soft goods warehouses are busy in preparing orders for delivery oh April account towards the end of the week. Bc'.ail is tot it all active, but this is rather a common feature at this time of the year. Heavy deliveries of oversow shipments have givon some interest to trado during the past few days, othorwiso conditions would have been dull. Another favourable feature is the shipment of heavier Quantities of products to tho United Kingdom. Large quantities are still held in store, in practically j avery port in tho Dominion, but shippers are glad to see the last of some of &o consign- I monts that were on thoir hands, and further vessels for loading are anxiously awaited. Potatoes: Local have so far supplied the market, but aro now running short, and, it will not be lone before Bouihern will require to bo brought up. The crop is reported good, » heavy yicid of prime quality, so that reasonable prices should rule throughout the fear. Market is now rather weak, at £8 ax store. There is a probability of the prohibition on export being removed, but the matter is not yet set tied. it is questionible whether it would bo of much use.to lift the embargo on export, as Tasmaman Potatoes are obtainable in Sydney at a lower a»ure than ours could bo landed at, and ihey always command a bettor price on ac:ount of the quality. Onions: Local are m food supply, and the reality continues excellent, quotation renainins at £10 ex store. Shipments have 3011 c to Australia, but have been tar from srofitable. as the expenses are high,, and the price obtainable on the other sido » not at kll attractivePoor Supplies of Oats. Oats- The local market i 9 very poorly sup)lkd, but the Tarawera La landing a good shipment, and those are selling at 6s downyards. The sensation of tho month ib unJoubtedly tho collapse of the .oat, market, is it seems to upset all previous calou^ions Holders appear to have been struck )V panic, and are now soiling at •prices ,han we warranted, having gone to tho Other ixtremo after keeping prices above tho evel of last year. .The whole position appears to bo duo to tho crops Jturning out far jotter than tho average, and heavy losses lave been made since opening prions were list paid. Tho official estimate placed tho wrap yield at, 34 - M bushels p« for ;ho whole Dominion, which would give ft larvest of 5,140,000 bushels, compared with l 943.759 in 1018 and 6.371,436 in 1917. Now t was pointed out in this.column weeks ago .hat the crop prospocts did not warrant an >pening price la above last years, but the narltet has now gone to fcue other extreme, is a result of an actual threshing far above he estimate. Disappointed buyers will soon nave something to say about the extTaorlinary disparity between tie estimated yield »nd the actual threshing of definite areas ilready harvested, and the .statistics will no ioubt receive a searching investigation. At present the incident is reminiscent of Disraeli's famous oriticisro of an opponent s statistics: "There are liars, very bad liars, and Wheat: Fowl whoat is getting scarce, and the best quality is selling at 7b 6d ox store. Supples generally appear to bo short, ana it seems about time that poultry-keepers »ore assured of a plentiful suppty, and at ft reasomabio price, instead of having, usually to be satisfied with short supplies, poor duality, and a P rlw > almost, l[ °>te, »qual to prime milling. The next thing will bo that this industry, supposed to bo so profitable for returned soidiors, wul bo threatincd with competition from Australia, where pou.try can be kept under ideal financial lions, led on abundant supplies of wheat that the Government are almosi prepared to give away in order to save it from Doing destroyed Dy millions of mice. It is expected ;hut eggs and pou.try will be dear this winter ind prices are already above the figures ruling at this time last year, but the pnoo never keeps pace with tie increased coat of food.. follard: This is another food that is always scarce. For over two years poultrykeepers have been receivinlj pollard as a favour, and at price about double tho normal. it the present moment no largo orders are peing executed at any price, although nominally the figure is £8 10s. Bran: Stoeks are getting lower, as a result 3f heavier demand during the dry weather. Better Quality Ghafl. Chaff: Local is now arriving in larger juantities, and the quality is turning out much better. Price remains at £7 Ma lor rist grades, dehvored at the station. Mar3orou¥ chaff is offering very plentifully, but the dldiculty is W -it shipped hero. J Maiw: The market has been a httlo upset, by a few poor quality lines arriving, and iese have sold at 6s 4d and upwards. Good iua.ity is now firmer, and has been offering luring the past few days at 6a 9d on the vharf in wholesale lines. Peas- Market is weaker, as favourable supdies «an be drawn from Tasmania, Fertilisers: Australian bonemeal is weaker, jut the market is not expected to go any ower. It ia difficult to neourai freight from Australia for the large quantities required. Salmon: Heavy eupplie,* aro to banc! by the mail steamers. Demand for all fish a showing a little of the usual ..Lenten activity, but the range of supplies is smaller than usual this vear. Salmon and . herrings are in abundant supply, but sarduies aro very Bhort, and there is also a shortage in most of tie locally-packed fish. Sugar: The works are still very much behind in delivering the requirements of both city and country buyers. It is expected that the position will improve next week. Prospects Regarding flax. Flsx: The position •appears to be a little better, both here and in London. Tho Port bleioourne is taking a large shipment, which will cioar up ail old flax orders although,] of course, large stocks are still left here unaoid The London market seems, to havo asBtuned a slightly-better tone during the past tew days, judging by cab,ca to nana. Buyers are evidently keener on gutting quotations, and it is hoped that this will lead to fresh business beloro long if tho freight could be reduced. In the meantime the mala are gradually closing down, as flax cannot bo Produced at a profit if it has to be shipped it present rates of freight, and merchants are anxious to get favounvb.c conditions for sending away the large quantities they already hold in B Gum: Only moderate quanlitieii Kauri Gum: Only moderate quantitien havo been coming into the market lately, but ■ most of the consignments havo beon placed i at satisfactory pricos, as the quality has shown an improvement.. Poor qualities have been dull of sale, except in swamp gum. which is moving off if free from wood and dry Rescrapcd white and good seveneighths aro rather scarce, and any , to hand can be readily placed. Good superior ordin-l ary ia freely moving off, and poorer »mpiji» according to quality- Very .little good bold and reaped black is arming and any to hand is in active demand Both good and poor swamp can bo placed if dry, but wet swamp gum is a drug in the market. Market is quiet m bnah (rum, and this grade must be clean and free rom bark. lae whole position of the market has been imDroved lately by the fact that larger shipments than usual have been cent away. WOOL SALES m AMERICA. *tistra.an and N.Z. Cable Association. (Heed. 6.20 p.m.) NEW YORK, Mar. 17. At Boston. 3,200,0001b of Australian greasy and 700 ba'es of scoured woo were sold by auction. The prices wore high and the bidding active. SALE OF FREEZING WORKS. United Service. . LONDON, Mar. 17. At the annual meeting of Nelson Brothers, Ltd., the chairman announced tho sale of j the freezing works in New Zealand and the su-lo of the whole organisation to the Colonial Consignment and Distributing Company. The reason for the salo was the double income tax and British excess profits tax. It is understood that the business in future will not bo directed from England. —— PEICES OF METALS. i Australian and N.Z. Cable Association. (Reed. 10.10 p.m.) LONDON. Mi*. 17. Coppor: On spot, £76; threo months. £72 Load: On spot, £28: throe months. £25 10s Soeltor: On spot, £.18: three month*, £S6. Tin: On spot. £241 Bs; threo months. £231 Silver. 3s 113 d per standard oz. CANTERBURY GRAIN MARKET. [by telegraph.—press ASSOCIATION.] CHRII3TCHURCH, Tuesday. North-west frales on Sunday and Monday stripped tbo covering off many of tho piles of sacks of grain in tho fields, and farmers are naturally now more anxious to get their raiD away Mill's are. however, ft.!! indifferent abont adding any more wneat to their stocks, and there is very Utile storage room available in town. Growers of pats have now decided to hold until Ihure is ft definite market price. Consequently, no sales are yet tak-ng place in the country. Tho wind has caused some damage to stocks of oats held for chaff, but fortunately there has been no rain to add to the trouble. The market is quiet in every lino of grain. weds and produce and until a') actual demand sets in from other ports, it is not likely that much busings wi'l bo done.