COMMERCIAL.

Oamaru Mail, Volume XXXVIII, Issue 10462, 23 May 1910, Page 2

COMMERCIAL.

THE LOCAL MARKETS

Oamaru Mail-Office, Monday Afternoon.

The depression which set in a fortnight or so ago still continues, and locally business as regards transactions in wheat has been almost at a standstill. The London markets have shown further signs of weakness, as was in a measure to be expected owing to the disorganisation of business consequent on the death of the late King. It is anticipated, however, thai now that the funeral is over the conditions at Home will respond to the activity following a. renewal of business. In a week when so few transactions have passed it is difficult to state values. They may be nominally stated as follows: —Velvet, 3s Bd, Tuscan 3s 7d, redchaff 3s 6d, all on trucks country stations and less com- . mission.

The oats market continues firm, with few' offering. A few purchases have been made in Southland to fill local requirements, but the price asked (Is 10d to Is IOJd on trucks) is not such as will conduce to a free importation. It is reported* that there are stored in Southland upwards of 200,000 sacks of oats, and unless a demand springs up for export to Australia it is not • unlikely that oats will see lower values. Nominal quotations are: A Gartons Is lid, B Gartons Is lOd, good feed linesIs 9d, on trucks country stations. • Potatoes have caused considerable excitement amongst merchants during the week, fowing to the difficulty experienced in filling orders that were on hand. Auckland merchants now threaten to obtain their supplies from Tasmania, and no doubt the possibility of their doing so will influence southern farmers, who are now withholding suplies, and may find temselves in a similar position to that which obtained last year, when Tasmanian potatoes swamped the northern markets. Sales were made at £4 10s to £4 15s on trucks at country stations for Up-to-Dates, and we believe there were isolrated cases where the price reached £5. Derwerits, which are not offering freely, are worth up to £4 17s 6d. There is a slight demand for seed potatoes, of which there are but few offering.