COMMERCIAL.

Oamaru Mail, Volume XXXVIII, Issue 10508, 16 July 1910, Page 1

COMMERCIAL.

HOME MARKETS. [By Electric Telegraph—Copyright.] (Per Press "Association.) Received July 15, at 9.10 A.m. London, July 15. Wheat. —Two Australian cargoes sold at 34s 6d and 34s 9d respectively. The wool sales included tlie"Mako" clip, for. which top the- price, were lid and the average 9Ad>; "Kaputone," 21,|d and 21 J. Received July 15, at 7.50 p.m. London, July 15. The wheat markets are firm, the American being still, influenced by fears of the drought in the North-west. Buyers are somewhat cautious, as the European * prospects continue good. Three Australian cargoes sold at 355, and a fourth at 34s 9d. Holders are asking 33s 6d for a New Zealand May shipment. There is a fair enquiry- for parcels of South Australian afloat at 32s 6d and New South Wales," nearly due, at 345. Australian, on spot, is in small supply, the price prevailing being 36s 6d. .... Flour —Australian is in better demanrj. Oh passage parcels are quoted at 24s 6d to 24s 9d.

CHRISTCHURCH MARKETS

. (Per Press Association.) Christcliurch, July 15. -Locally the grain market is at a standstill, as little grain is being offered, and prices. asked are generallv above buyers' limits. Chaff in store is firmer, but as no cutting can be done in the wet weather prevailing no higher prices are being offered to farmers. Potatoes are also firmer, and iQr those bagged and waiting delivery £5 5s is ; being offered'. • .

SALE OF LARGE SOUTHLAND PROPERTY.

Dalgety and Co., Ltd., Christcliurch. report the sale of Mr T. C. Ellis known Five Rivers Estate, comprising 38,700 acres freehold. The property .s situated about 35 miles from Gore and is served by the Kingston and Mossburn railway lines, there being two railway stations on the' place. It is well adapted for cutting up, including as it does 15/20,000 acres arable land, most of which, has grown wheat, while a large portion of the balance is plougliable« The purchasers have made arrangements to survey at once, with a view to subdivision, and expect to place it on the market at an early date. The country enjoys an equable , climate, the latitude beiug 30 miles north of Dunedin. It is well watered and particularly adapted for irrigation. The rainfall is about equal to Canterbury.

DUNEDIN MARKETS

(Otago Daily Times.)

The position in New Zealand continues practically as it- was at the conclusion of last week. There is no excitement at all, but buying, is proceeding quietly as demands are made. The market level for red wheat is at 3s 6d landed in .Dunedin, and oil this basis fair quantities of Tuscan and velvet ear are changing hands. As regards velvet wheat, holders are very retentive. Only occasionally a farmer is found willing to treat for business. A factor apart- from the market lies in the reluctance of farmers to shife grain at this time of the year. The prices asked are 3s 8d to 3s 9d on the trucks 111 the country, thus making the ' figure nearly 4s per bushel when landed m Dunedin. At this figure millers are buying only as they are obliged to, and the majority feel inclined to use their last bag and risk the market of the future rather than bity for stocking on the prices of the present. The North Island is making some demands for wheat from the shipping districts, and some business, is being done at the prices mentioned. It is advised that the shipment of Tuscan wheat sent by the Evendale to England is being landed on spot between 31s and 31s 6d This is for Government f.a.q. standard, and is insufficient to have made the venture profitable. The tariff of the Flourmillers Association for flour and other lines is as follows:—Flour: Sacks, £9 os; 1001b bags, £9 15s; 501b bags, £10; 2olb bags, £lO os. Oatmeal, £ll 10s .per ton. Pearl barley, £l4 per ton. Bran, £3 Ids per ton. Pollard, £5 per ton. The oats market remains very stagnant. The demand .is very slight, and the offerings almost equally diminutive. The difficulty in purchasing is marked, and prices therefore remain firmly at late rates. Merchants confess to having received inquiries from England and Australia for prices, but the figures they were abl© to mention were rou.cn tipove those at which any prospective business could have been entered upon, losing quotations are 2s f.0.b., s.i., tor B grade sparrowbills, and 2s Id to 2s lid for A grade Gartons.' '

TIMARU MARKETS. j (Timaru Herald). - 1 There was a more active tone evident in the Timaru markets during the past, week, and - a little business was passing in any lines of wheat suited to millei s requirements. Good conditioned Tuscan is worth 3s 3d, Redchaff 3s 4d, Prime Velvet 3s Bd, per bushel delivered Timaru, sacks extra. There is a strong demand for the latter variety, "which is very scarce. Lower quality wheat in a sprouted condition lias absolutely no outlet, neither millers nor merchants being inclined to operate, and for shipment Home it is only worth 2s lid to 3s, f.0.b., sacks included. There is a large quantity of this wheat in the stores and in farmers' hands, and if the latter desire an outlet for it, advantage will Jiave to be taken to ship Home tins month or in August. After the end oi next month Australian wool will be absorbing available freights. Farmeis would do well to consider the position, and be advised as to sending it Home, which is apparently the only market open for this quality of wheat. _ The demand for oats from the North Island and the coast is limited to small orders, and as Southland shippers are in a position to quote less-money than "South Canterbury merchants can, the bulk of the business is being done from the Bluff. s .-Best samples of are worth i £5 10s to £5 15s f.0.b.,. but business, is quiet, and inferior samples are hardly saleable.