COMMERCIAL

New Zealand Times, Volume LII, Issue 9274, 21 April 1891, Page 2

COMMERCIAL

New Zealand Times Office. Monday Evening. a The recent advance in the price of flour in tho South Island Is charged against tho hardening state of the wheat market and the possibility of supplies running short. There was an Idea prevalent nob so long ago that the wheat shortage in the Australian colonies would be larger than usual, and that millers were short supplied. Recent advices received from

authentic sources in Melbourne and Sydney seem to point out that this idea is an erroneous one. A Melbourne firm writes: —“Owing to the Master holidays our report is a v/etk later than usual this month, by which we arc able to advise the opening of the markets after Easter, when some change U generally expected. In the meantime tho preliminary agricultural statistics for 1890-91 have been published, and they are exceptionally interesting this yeav. With regard to the wheat crop, the figure* of the Government Statist are about 5,000,000 bushels under those of our leading weekly journals, which take considerable trouble in x >re P ar > ni £ their returns to form an accurate estimate of tho yield. Die Government Statist is late in publishing his returns this time. Owing to the fact of this large discrepancy, ho made furtner enquiries amongst the farmers and municipal authorities in the principal wheat-growing districts, and found that much damage had been done by the heavy rains which fell towards the close ot 1890, the returns in two of the largo wheatbearing countries falling short of the estimates by 3 000.000 bushels. It is argued by the agricultural reporters of tho journals referred tu, that the Statists returns are far from complete, and that everything tends to show tho accuracy <-f their estimates. With the exception (J malting barley, which is shown by the Government Statist to have an increased area under cropby nearly 2,000 acres, the area under crop of the principal cereals is shown to bo bus tlian that of tho previous season by 33,419 acres of wheat. 10,092 aorta of oats, and 4,579 acres of Capo arid feed badey; whereas it is well known that there a considerable increase, encouraged by tho raising of the tariff towards the end of 1888. Again the deliveries of wheat, so far this season, have been considerably heavier than during the same period of any previous season, notwithstanding that this harvest was nearly ft month later than usual. Further enquiries are being made, and it is to be hoped the unofficial estimates will be found to be nearer the mark than those of the Government Statist. Wheat, which was purchasable at the date of our last at 3s 6.1 to 3s 7d for F.A.Q., has advanced steadily during March, 4s being touched, but tho volume of transactions has been small. Shippers have been holding off, excepting those who had not provided cargoes for their charters. The market may to day be quoted at 3s ex station, for milling, and 3s Hd f.o.b. for shipping, winch by latest cable advices shows a small margin. It is not expected, however, that the present firmness in the London market will continue. A Sydney firm writes : Since our last heavy rains have from time to time fallen, and our country production is now more than sufficient to supply town requirements. Values of all kieds of grain and fodder have receded, and a restricted business only is to be done. We see little prospect uf improvement, as we may now bo assured that grass and fodder will be plentiful right through the winter. Wheat in the early part of tho month took a firmer tone, but us millers were heavily supplied and had made large forward purchases from Victoria, which are now coming forward, no notable advance took place here. The bulk of our own growth has now parted from farmers. Any parcel of really prime quality would bring equal to 3s lOd ex trucks in Sydney. The general trade of the past month has been of a satisfactory nature. There have been no spurts or wild speculation, but a steady trade, which shows a decided improvement upon this time last year. Sugars are steady, but firm in value, and there are indications that better rates will be reached before long. Candles have sold more freely lately, and stocks are not heavy. The advent of longer nights baa increased the demand for kerosene, but jt is still sold at low values, and the market is fairly well stocked. The enquiry for dried fruit continues slack. Bottled ale and stout have moved off freely, and stocks are fairly good. The demand for Scotch whisky has improved, and there has been better sales of brandy reported. In all spirits in bulk and bottle there is a tendency to harden in sympathy with the recent advances in England. The metal mar, ket is dull. Galvanised iron in quiet of saleand tho demand for fencing wire has slightly slackened.

Freeman R. Jackson and Co.’s stock report: —Duiing the last week we held two sales, viz., at Ashurst and Palmerston North. On both occasions stock came forward freely ; cattle especially mustering more numerously than of late. A strong demand for thri class has sot in recently, and all sorts have advanced considerably in price. Yesterday there was a large entry, and we readily disposed of 627 head without difficulty. This represented the bulk of the entry. Sheep maintain recent prices. We cleared out all at Ashurst and at Palmerston, with the exception of an odd lot and a line of overland lambs that had just completed their journey. Cattle —2yrs old steers, L2 14s ; 3yrs, L 3 Cs Gd ; yearlings, 29s ; weaners, 24a; fat cows, L 3 19a and L 4; 3 to 4yr old steers, L 4 12s 6d ; fat bullocks, L 5 GJ; empty cows, L2 15s; springer.-*, L3ss to L 3 10a. Sheep—Well bred lambs, in wool, 9s Gd ; others, Cs 3d to 7s lid ; culls, 4s 8d ; ewes, in lamb, Gs Gd, 7s lOd, 9s 4d, 12s lOd; fat ewes, 12s ; forward wethers, 12s sd. Stevens and Gorton’s stock report:— We yarded at Bulls on Tuesday last large entries of a very good class of both cattle and sheep. The bidding throughout the sale was spirited for all lines, and the result showed a decided rise in cattle, and sheep fully maintained recent prices. Our quotations are:— Cattle—Fat cows, L 3 os to L 3 9s ; 3 and 4-year bullocks, L 4 10a GJ ; forward cows, L2 16s Gd ; 18 month to 2 year steers, L2 Is Gd to L2 2s 6d; 18 month to 2-year well bred heifers, L2 7s 61; mixed weaners, 24a. Sheep—Romn«y ewes, mixed ages, 13h 2d ; Lincoln ewes, *» to 8tooth, 13s lOd; breeding ewes, 7a to 9s 9d; fat sheep, 13s 7d; forward wethers, 12a; lambs, 8s to 9a.