NOTES

New Zealand Mail, Issue 1682, 25 May 1904, Page 72 (Supplement)

NOTES

“Dornbusch," writing with regard to the wheat market.on 18th March, stated; —The week opened with a steadier tone and some recovery of value, but the amendment was not of many days’ duration, for lately there was scarcely any response on the part of buyers, and when tired holders of Australian cargoes found that shippers were prepared to meet the market and accept more moderate prices, efforts were made to attract custom, which held no result beyond weakening the general position. Early in the week Several cargoes were dealt with at 3d to 6d advance, say 31s to 31s 3d for Australian. Rosario/Santa Ee steamer 641 b. on passage made 30s 6d and 30s 9d. and February-March 63|-lb. 80s 3d. For Californian January B/L 32s 3d was accepted, and 30s to 31s for red and white Karachi, steamer May-June. A heavy business passed in No. 2 Calcutta, old and new crop, and altogether there was enough energy displayed to suggest that the corner was turned, and resellers were confident that after all they had not missed their final opportunity. On Monday sellers generally held for 3d advance, but failed to get it. Tuesday's market was very quiet, and since that day the tendency has been steadily adverse to holders. No doubt the instability of American opinion bad something to do in disorganising the market, but finer weather and improved crop prospects in France, Germany, etc., and with ample supplies ou hand and in sight, it is hardly a matter of wonder that millera should not be wishful to enlarge their commitments, and mere speculative buying has become coo risky for ordinary traders. According to official estimate the reserves of the last crop of wheat in hands of French farmers on Ist March was equal • to 20,800,000 quarters, this quantity being independent of the remnant of former crops, and of the stocks in hands of merchants and millers. Taking the consumption for the remaining five months of the cereal year at 3,100,000 quarters per month, there should be <a surplus of 5,300,000 quarters to be carried over for the next campaign. In such circumstances, and with crop prospects better than they were a year ago, it is only reasonable to assume that France is not likely to require much extraneous assistance in the matter of wheat supplies before next harvest. As the Japanese definition of what is regarded as contraband of war has been published already, it is of interest to give the Russian official list also. The following statement was issued just before the last mail left; A—Elvery kind of small arm and gun, complete or in separate parts, and armour. B—Faria of firearms and ammunition, fuses, shells and bullets. C—Caps, cartridges, cartridge cases,' powder, saltpetre, sulphur, explosives or materials for purposes of explosion, such as mines, dynamite, pyroxilin, various explosive substances, conductors and everything for exploding mines. D—Everything appertaining to artillery. engineering and troop trains, such as gun carriages, limbers, cartridges, ammunition boxes, field smithies, field kitchens. instrument waggons, pontoons, bridges, trestles, barbed wire, horse harness for transport service, etc. E Material for equipment and clothing of troops, such as bandoliers, knapsacks, sword - belts cuirasses, entrenching tools, drums, field kettles, saddles, harness, uniforms, tents, etc. F—'Ships bound for the enemy’s ports, even if sailing under a neutral commercial flag, if their construction, internal arrangements or any other indication makes it apparent that they have been built for warlike purposes, or are for sale, or are destined to be handed over to the enemy on reaching their destination. G — 'Every kind of ship's machinery and boilers, mounted or in parts. H—livery kind of fuel, such as coal, naphtha, spirits, etc. I—Telegraph and telenhone materials. K—Everything intended for warfare on land or on sea; also rice, foodstuffs, horses, beasts of burden and any other animals intended for war purposes, if they are sent at the enemy’s cost or order. The Government statist of New South Wales, in a preliminary return lately issued, estimates the number of sheep in that State at the close of December at 28,663,983, as compared with 26,649,424 at the end of December, 1902, or an increase of 2,014,559 sheep. From 12,187,470 ewes 7,286,000 lambs were secured. There were in the State at the period indicated 100 per cent, more ewes than weathers, while ten years ago the'ewes only exceeded the wethers by 28 per cent. This result is a most satisfactory one in tne circumstances, and permits hopeful anticipations baine indulged in \ntK ronuect

to the future, provided always that tho next few seasons are favourable. The return speaks volumes for the strenuous efforts which have been put forth to save the ewes. This result has not been achieved without great care and expense, and it is to be devoutly hoped that the seasons immediately in front will enabla a fitting return to be secured. The season of late in Riverina has been extremely dry, and fears were being entertained that the lambing would be seriously affected. The rains that have lately been reported may help to relieve the position, and later reports on the matter will be awaited with interest. Generally speaking, there is ample old fodder to protect the green spring in the grass. A bad lambing at the present) juncture, when sheep are at such high levels, would mean a serious set back. Sufficient rain just now would mend tho situation forthwith. A recently dated New York advica states that the South Australian ‘'Transcontinental Railway Act was passed in November, 1902, and bids for the construction of the line will be received until 2nd May, 1904. Americans are competing for tbe contract.’’ The projected railway extends from Oodnadatta, in South Australia, to Pine Creek in the Northern Territory, closing the gap between Adelaide and Port Darwin on the south and north coasts respectively. The existing line between Adelaide and Oodnadatta is 688 miles in length, and that from Port -Darwin to Pine Creek 1451 miles, which, together with the projected connecting line of 1200 miles, will bring the total up to about 2000 miles, or approximately equal to the distance between the head of Lake Superior and the Pacific coast. It will be interesting to note if this information regarding American competition is correct, thongh there appears to be an impression that the Government is undertaking the work and calling for tenders. The offers for the construction of the line on the land grant system are to be opened next month, and it will be then made public whether this extensive scheme has attracted any outside attention likely to lead to its consummation.