COMMERCIAL.

Otago Daily Times, Issue 13199, 4 February 1905, Page 6

COMMERCIAL.

. Daily Times Office, Friday evening. The .amount of revenue collected at the Huned'H CtlKlnijl II'.MVO lo.flfii* 'in i;on'l< cleared for consumption was £1573 Is 2d. liREADSTUFFS. The London wheat market is steady tit the advance reported at the, beginning of th<; week, and there is considerable aofivity in cargGOi. 'Oio sales reported within the past fc-w days include an Australian cargo at 355, another at Zd, 6500 quarters of Australian J an £'r,y shipment at 33s Id, aiid a cargo at 33s 3d, 10,000 quarters Australian February slupniEiit. at 353 3d aiul 11,000. quarters Muruh shipment at 33s lid. lhe dominating -actor in tlio wheat- situation is tile disturbances in ltussia, for, !tt will bo seen by the figures quoted below, Russia is expected to supply more than a third of theEuropesn wheat crop and nearly a fifth of the world's wheat crop for the Any consiilprnblo interference with_ the Russian supplies, therefore, cannot fail to havs an appreciable effect upon price. Tlio total quantity of wheat and flour afloat for the United Kingdom as at .Tariiiary 31 ivas 2,830,000 quarter an against 2,725,000 quarters last week—an increase of 103.000 qiiarfore, and for the Continent. 795,000 quarters, as against 725,000 last week —an . increase of 70,000 quarters. Those figures' compare with the corresponding figures io previous year.; as follow: — ' S -a o ~ .5 a "5, "Ei .2 a s ,0 g p 0 0 V .J J'l |« g'S gjjj '<JP <i> 3£cy Quarters. Quarters. Quarters. 1303 .. 2,830,00.1 79-5.0 M 7,338,000 30/9 IBM .. 2,RC0,f«0 915,T0 7,761,000 20/11 3903 :. 2,000,01)0 G50.030 10,213,000 2-5/4 1903 .. 3,300,001) 1,350,000 11,103,800 27/4 Under dates Doeomlier 26 and 30 " licerbolim" _ gives some interesting particulars concerning; crop prospects in America, the Argentine, am) India. The Argentine crop is cstim.ied at a total of 16 million quartern, as fcgainst 15£ million quartos last season; the probablo Mirpliu is estimated at ll| million quarters, a.? against 11 million quarters last year. As regards India, it is tolerably evident, .from the first official . moniorandtmt published, Unit another large crop is in prospect, probably alinost equal to last year's. . Tliiii, it will lie remom-. tared, wa? a vredrd one. bein'.r 14 million quarters above t-bo average of the previous year's., " Ueerboliin " therefore concludes that supplier of Indian wheat for the text 12 months (ire only a matter of price. Harvesting in India commences about the middle of Mnrch. " Bccrbohm" tlma eommehta on the AnioHcan situation: — We, suggest- that the real crop is not more than 550,0C0.000 ordinary bushels, which will give lin export surplus of ahoiit 30,01)0.000 bushels. From July 1 lo December 31 the. exportii in wheat and flour are already about 20,000,000 bushels, so that tbo irference io thai practically all the eipofta a-uring (lie iie'xt six months must come from reserve stocks, which, of course, suggests the -possibility of still higher prices in America betore'tbe-season is over. It is confidently l>elievcd!-that last year's estimate of the crop' was also over-estimated by jbotit 25,0C0,0!)0 bushels, seeing that only 120.090,000 bushels were exported last season) which-closed with both visible ancl invisible stocks smaller than in the previous year. Tho following correcta! account of the world's wheat production, this year,.compared with iJio ncfotal outturn 'ill previous years, will bo f&uud interesting:— The Wheat Chop o? Tns World. tin Quarters of 4301b, 000 omilied.) " 1901. 1903. 1903. _ (jrs. Qrs. Qra. Ailstna 5,000 5,750 0,200 'Hungary ... „ ~ i 7,000 ' 21,700 22,830 Belgium ... ~ „ 1,750 1,500 1,750 Bulgaria 0,000 4.500 : 5,000 Denmark .. ~ ~ -403 5M 400 Prance- .. .. .. 37,000 45,G00. 41,500 Germany 17,500 ••18,500 • 17.900 (ireece . .. .. .. 760 750 730 Holland ; 750 750 750 Italy .. 17,030 20,030 16,000 fottilgal .. .. ... 400' GoO 750 Itoumania. ..' 0,750 9,400 9,900 \Russia .. . .. .. 82,000 70,500 73,0b!) Servia .. ■ 3,SCO 4;500 ■ 4,350 Sjiiiu .. .;• .. .. 11,000 12,500 - 13,500 Sweden, .. 500 670 '. 550 Switzerland .. .. 450 500 ■ 500 Turkey (Europe) .. 4,500 5,000 B.dOO United Kingdom ... -■ 4,750 6,0(10 7,350 Total for Europe' "..' 217,000 - 233,270 229,800

IMH. -1903;- 1902. 1 Algeria 9,760 ■3,000 ' '8,500: Tunis 1,000 '.1,200 S» Argentine Republic IG,GG»3 , 19,5(50 Australasia 7,000 ,10,000'; . 2.500 Asia Minor .. .. 4,500 : 4,230 ' 5,0j» Canada ; 0,000 9,760 • 12,000 Cape Colony .. . 550 - , 500' 600 Chili 2,000 • 1,500 • 1,500 Bljpt 1,500 ■' '1;5D0 1,500 India «,000 . 30.750 , 28,000 Persia ' 8,000.- 3,0W V • 2,5W Syria .. 2,5(X) 3,000 ' 3.500 U.S. America .. 67,000 . 77,000 ;; 85,000 Uruguay 1,250 1,030. 950 Mexico 2,030 . 1,750 .1,030 Total out of Europe 101,050 '" 113,700. 159,805 Grand total .. .. 881,650 402,070_ 359,C00 * Official returns, including Slavonia find Croatia, t Including Poland and Siberia, v Commenting on those figures, " Bserbohm" remarks: — ".■v././ Tho world's crop, it will be Been,. is about 22.000.000 quarters leas than last veav, but it is far above the average of former years. The quadrennial averages for the past 12 compare, iu fact, as follow -v. • Quarters. '■ 1901 to 1901 .. .. .. 35J,500,000;-.: • . 1837 to 1900 330,000,000 1893 to 1600 .. .. .. 313,000,000 TboM figures show that, if the Russian crop estimate of recent years be true, the increase in the wheat production, is grater than the ordinary increase in the world's reqiiiremehts, due to increased population; and that, th»re : fore, any important advance in prices is not to b9 expected fiom tlio normal point of 7iow ot supply and demand. It may, however, bo suggested that the fact in previous years of America being the main source of supply has tended to unnecessarily depress -values below what might Iw callecta profitable wheat-growing level. Similarly, it is argued tint, tho absence of American wheat this season- has enabled prices to regain a more reasoMiole level from tie point of view of the European farmer. Tlio Australian market,-'iu.sympathy with London, has ;i firmer tone, this week's quotations ranging from 3s 4|d to 3s sd; the most noticeable advance -being in Adelaide. Ths local wheat market is practically without change, and transactions 4ra oil a limited scale. Milieus wi.l only buy prime lines for actual requirements, preferring to await tho new yrairi before, operating to any extent. Quotations range tronr 3s -4d to 3s 4id ou (rucks for velvet and l Hunter's, whilst 3s 5d to 6s 6d is asked for Tuscan. The Christchurch Press reports': " Tho local gtaiii and produce' markets have bfceit quiet during tile past few days. No stile* of old grain of any consequence aro rcpdrUd, and as tho rtiiii last /ivfetilc cheeked threshing operations there his been norte of the hew crop ou offer since. Grass Heed is also coming forward slowly at present." A fair average trado is wissing in flour, but prioes aro-unchanged. The New Zealand Plourmillers' Association's tariff stands as follows:-Sacks, £10; 100's, £10 10s; 50's, £10 15s; 25's, £11. Tlio shipping prioo is il9 10s f.o.b. • Pollard continues vir-y scarce, otherwise the oll'al market is without alteration. Tho 'price of pollard is £5 per ton, both for local orders and for shipment. Tho price of bran roniains at £3 5s for local Orders, ,and £3 per ton for shipment. There was a little demand for oats for shipment in the earlier part of the week, but it has since died nWay, and the market closes quiet. There is no quotable change in price*, v good B gratis being worth from Is 8d to Is Bjd ex store Dunedin. No new oats are yet on the market, but transactions in new crop aro reported from Canterbury, Is 4d on trucks being mentioned, as the prica at which a line of new Danish has changed hands. New Canterbury Danish liavo been offered in tho North Island: at .Is 7^d. f.o.U. for early delivery, but it i<i not. known whether any business has resulted.. Tho price of oatmeal stands at £10 per ton. Pearl barley is quoted at £13 per ton,. PRODUCE MARKET. The fine weather and good priccs have induced large supplies of Oamsrlt kidneys, and tht potato market lists slumped. Current quotations range from 6s (kl per cwt to 8s fed for very prime sample-)—a drop of from 5s to 6s on the week, It is stated that new crop Oamaru Derwcnts for forward delivery arc offering at £1 per ton on trucks. Tho little bit of a flutter in the export' butter market reported last week • has quite subsided, but not boforo. several thousands of boxes had changed hands on-London account. Buyers have now had their limits reduced to the old level. There has been a little inquiry on Australian account lo 1, ■■ Zealand butter for tinning for South Africa. Apparently the Australian artic'.e U .not good quality enough for the purpose required. ThcTe is no improvement in the demand for dairy butter iti tho local market, and tiiuch difficulty is experienced in clearing consignments. For farmers' lots 4d to 6d per lb is the ruling rate; first grade salt and milled is quoted at up to 7£ri, and separator pats at 7d to 8d; first .grade faotory, lCd for bulk and 10|d for pats. There is no change in cheese. Akaroa,-, 4id; factory mediums, sd. Tlio egg market keeps iirni itfc Is 2d per dozen, as high as Is 3d baviiig beoiii obtained during tho wec-k. At the same time the market is irregular, sSles being reported at Is Id. Tho supply, of poultry is in cxcoss'of the demand, and prices are cosy. Current quotations are as follow:—Rooster?, ,3s to 4s; liens, 2s 3d to fe 9d; chickens, 2s 6d to 3s 6d per pair; ducklings, 35.6(1 to 4s; gee*?. 5s 'to 5s 6d; tUrkeyo—gobblers lOd, liens sd. Pigs are in good inquiry. 1 Baeoners (up to 1651bl are. quoted at.3|d to 4d-; overweights, up to 3d. . Hams aro unchanged at 8d to BJLd, and bacon at 7d to 7|d. i Ohaff is coming forward more freely, and is quoted at £4 to £4 5s per toil for prime oatk'ii sheaf. FRUIT AND VEGETABLES. The arrives dnrins! tho week inoludo 150 tosrs f-om Sydney, 450 from Melbourne am! Hnhnrt, and over 1000 cases from northern ports, Tiargo supplies of fruit have alto come fonvard from Cotiterlntry anil . the Teviot. Tlio fine weather Iras caused both bitSiness to ho brisk and prietfa. to be good. Current quotations arenas follows;— Oranges: None. offering dta*-t a tfai 'Friseca in small cases, v.-hieh sihl at 6s 5d to 7s 6d. Bananas: very scarce. A few Mel: iMimicj offering at lSs 6d to 16.; per ease for ripe. Lemons: Messina, half-eases, 6s 6d to 10s 6d; enseS (300's to 360's), 20s to 22s 6d. Pines; New season's. Que'ens'.ahd roughs in largo supply at 6<s to 7s pe/ case. Applos; Canterbury cookers? 7s pc-r case; dee?.;rts, 7s Od; Ancklnnds, 2s 3d to 4s; locally grown, up to 6s 6d peT ease for green fmit. Tomatoes; Ofaristohiiroh hottaise, 5d to 6d, accoi'dirig to supplies;.' Nelson, outdoor grown, 4s 6d to. 7s per easfe, according , to quality and condition. Cucumbers: lioeal and Nelson, 6s to 7s per dozen. Rhubarb: Second crop, 5s to 6s. 6d per civt. ' . Cherries: A few local only offer ins; at 6d for Cliristelmrch, 4jd to 5d for Timaru and . Makikihi. Plums; 'Gbbart greengages, Bs. to 9s;. Angelinas, 7a to 8s; Hobai't anriqofs, up to ss; choice Auckland Bnrbanks, '6s; 'lie'.-. lsonrnos. 5s to 5s 6d; Clbrietolinrob,'3s'Od to 5s 6d; a iew plums from Melbourne, 2s to 4s 6d per case, Toviot Fruit: Pears, finest .Targoneliep, 2Jd; peaches, 2d to 3rl; Aprioots, jam and dessert, to o|d; plums,' ittm ljd, others. l?d to 2jtl; cheiTV pirate. 2jd to 3ij. . ' s Peart; Hobart .targbnelles. 7d ber liaifcaso; Molbouruo Bon Cllrc-tnens, 10s 5d lo 12s 6d per cafee. Grapen; In good demand at is per lb for local; Aucßand, BJd to ?d per, lb.. ■ Strawberries: A few. still offering. Local Piixtohs, is to Is 3d: Lnit<iu Noble, 7d to B£d. Roa-ebc-rries; Ripe, lid to 44d;; green, Id to lid. . v :•>'.' 1 Currants: Black ind roii, 2Jd to 3d; white, l!d to l|d. .Raspberries: More plentiful,.-4d to 4|d per lb. ' - Walnuts: Choice, 6d per lb; peantite, 2Jd to 3d per lb. ' Best clover honey, 3d , to. 3|dsouthern btiali honey, 2Jd to 3d. A T sgetSbles: CauliiloweTS. 2s to 3« 63 per sick; cablatfos, Is 6d to 2s 6d; green peas, Id to lid per lb. .. ; Ne# Melbourne riniotis, £13 per ton. / V/c arc requested-to state, that ihe. alwvo quotation? 'or pwdiioe, fruit,', aiid vegetibles tie current- wholesale prices between agents aiid distributors. MANAWATU RAM PAIR. PALIIERSTON NtIRTH; Februßiy 3;, The MnnawfttUi ( ram, fair''was. conclucled to-. day, when a lari»e jiunlber ofv.LincolriS fliid ■ Romneys were offr-red, and found ready . ealcs. The nriies for'both'breeds want tip to nearly double tlie'alrionhts realised at lost year's fair. Fioiik Liiicolrifi that averaged' 2Jgs. laat year sold iliinieronsiy - icfditV "at -6gsl -and. readily up.to ojgs. advates wdrastrict'vfitll in RoniiteyS, the majority of the' Entries selling' freely si .Tbij iiijrhest.price Was r>:?s. Stud Lincolns also .realised. Jligs 'and •17igS. whilst 18|gs was paid for stud Eomileys,A "prize-winning ram of the last-riiimed breed changed hands at 45gS; Tlie dttnilid'for Heavy woolied sheep is considered exceptional. • ■

pit lb. Tomatoes. 50 per lb. Bntior: Bairy, CJd; factory, BJd to lid per lb. Fowls, 2a Gd to -13.' li'iicon, 7(1. Hams, Bd. Cheese, 4d;ta 4Jd per 11).