COMMERCIAL.

Otago Daily Times, Issue 13586, 7 May 1906, Page 6

COMMERCIAL.

Daily Times Office, Saturday evening.

DAIRY PRODUCE MARKET.

The local cheese market is very firm, and merchants are now asking 6j,d for factory mediums in distributing lots. There arc indications that cheese will lie short before the end of the reason, and a certain amount of speculation has been going on during the week in anticipation of a further rise.

Tho Wellington Trade Review, under <{atc 2nd inst., reports as follows on tho butter and cheese market: —

Buffer.—During tho last three weeks cobsiderable business has been transacted in April-May outputs. The demand for saltless has been good, and for this period of the year prices compare more than favourably with ( previous seasons.. From 9Jd to 9|d has been' freely offered. Many factories have sold at these prices f.o.b. Others have decided to accept an advance without recourse, and to participate in profits if anything is made beyond the advance and ordinary expenses of sale. Business on these lines "is not satisfactory. Tho consignor on receipt of account sales too often finds that there is a small debit balance. Several outputs are still being hold for higher prices, or for local requirements. Purchases for the London market are reducing the quantity held in cold storage, consequently there is every prospect of high values ruling during the winter months. The shipments per s.s. Ruapehti consisted of 17,895 boxes, and the s.s. Gothic took 18,288 boxes. In the local market the supply continues light and demand very good. Prime factory is steady nt 105 d to lid; choice separator is dearer at lOd per lb; milled and dairy also a shado higher at BJd to 9d. Cheese.—ls still being shipped in considerable quantities, and high prices are maintained. The demand for coloured is firm, and quotations ate as high as G6a. It is probable that after the departure of the s.s. lonic,' duo to sail 24th May, no further shipments will be made this season, which is now practically closed. The s.s. Ruapehu shipment waa-,6727 cases, and that of the s.s. Gothic consisted of 5430 cases. Local demand is good at last rates of 5Jd to 6d per lb with fairly good supply. IMPORT MARKET. The main topic of conversation in import circles is the prospective dried fruit famine, which a- variety of operating caiiscs threaten to bring about. Tho earthquake and firo in San Francisco, the failure of the Mildura crops, the shortage of all Mediterranean fruits, both in tho sources of production and on the London market, together with_ tho comparative failure of tho Tasmanian apple crop, the shortage in the New Zealand fresh fruit harvest, and the-small output of canned fruit from Teviot, present a combination of circumstances aft'octing the tamo commodity which has seldom; if ever, occurred before. The fact that Melbourne and Sydney houses have recently been drawing supplies of sultanas from tho limited Now Zealand stocks has put local holders of dried and canned fruit lines on the qui vive. Already a considerable rise in values has been established, and there are prophccics of rccoid priccs being reached between now and the end of the year. Gable advice from San Francisco received in Wellington a. clay or two since reports that the whole of the stock of old crop fruit, both canned and dried, has been destroyed by the earthquake and the subsequent fire, and that no more fruit can he slppped from California before the opening of the now season.

The immediate effect of this advice has been a substantial advance in the price of all Californian fruits. Prunes are now quoted at 7d in bulk and 7s 6d in cartons, whilo' for seeded raisins up to Is per dozen cartons is asked. Holders of canned fruits aro sitting tight upon thoir stocks, and are not anxious to sell at quotations.

Advico has just been received from Sydney that the Mildura. orop this year has proved altogether short of earlier anticipations. Instead of thoro being about 2000 tons of Lexias available, the actual supply for distribution is not more than 600 tons. This quantity is very far short of the local consunipt-ion, and quite half tho ordinary buyers in Sydney nave been left without supplies at the fixed rates. Consequently an advance of Jd per lb is being easily obtained by the few lucky holders of firsthand stocks.

The Smyrna market is excited, three cables coming to hand within 24- hours cach reporting on advanco in sultanas, I lie total rise in certain grades being 5s per cwt, while in other grades quotations were altogether withdrawn. Recent letter advice from Smyrna states that stoclts of cleaned and carton fruit are completely exhausted, and that- a small order for bulk fruit, which is landing in Dunedin next week, was only filled with extreme difficulty. The effect of these advices has been felt in the local market, and merchants are asking 5s to 5s 3d for sultanas in cartons and 4d for good samples of bulk fruit. Stocks of figs in Smyrna are pretty well eleaned up. LocaHy stocks are short, and 7d is beinj; easily obtained for the few layers offering. Smyrna advices also state that Elemes are unprocurable. _ ' The date market has shared in the general advance, and for a littte lot of cartons coming forward 9s is asked. Messrs Mercer and Mitchell, locdl representatives for Mr M. V. Manillas, Athens, Patrae, and Smyrna, have received the following regarding tho currant situation in Greece :-rRe Currants, by letter written at Athens on March 1, wo have the following report: "The prices in Fatras are firmly held, and arc advancing owing to the increased value of Greek paper money, which, since last September, has had the remarkable advance of 10 )>er cent —that is to say, whereas last. September tho sovereign could bo exchanged for 30 drachmas, to-day tho exohango is 27 draolpas, while the nominal gold value of a sovereign ' s 25' drachmas; so there is still room for a further increaso in .the value of the pajwr money, and consequently in the price of curr-anta fpr export, Jt row thus be expected the markot will remain stationary iyid firm, but if later on it is found the itew c-urrapt crop is smaller than anticipate), then prices will necessarily advanci!; . otherwise,. _ will continue firm." By letle'i' just l-eceivrd, dated Athene, J3, stocks of currants remaining ill Greece at that date were: — Crop this year, ascertained to lie 160.000 tons; exported to lfobruary 28, 1906. 120.500 tons; remaining in Greece, 39,500 tons; retailed for duty, 13,825 tons; balance left for exportation. 25,675 tons. Letter also advised: ."Market continues firm, without alteration."

The sago and tapioca market is again showing signs of firmness. A few weeks back prices bad receded froni tho highest point touched la-t vea.r by some 6s per cwt; but tho market has rocenllyjccove.rwl at loast 4s of the drop, aiid'this week a further rise of 10s is recorded. Current quotations liavo consequently, advanced, and now stand at 2?s for sago 23s for pearl tapioca, and 24s for flake iapioca. The Japan rice market is firmer, and £17 per ton is the current quotation. Other lines which have in the general advance arc English split peas, quoted at 19s 6d to 20s: haricot beans, 235; and hemp seed, the lowest quotation for which is now 30s. a rise of ss. Ginger is reported to be still advancing in price, the worjd's supply for the year being onlv about one-third of the usual crop. TVjth citric aejd and canary seed also S l ™' a small advance.

Black Horse salt - is in short, supply, ami as there is 110 of any stcoks on the water, it will sooih lie quite out of the market. 1

A big sale is reported of packet p'fas, which for the moment are out of the market. but further supplies will bo available next week.

Oamp coffee lias l>oeu in short supply, bit! a ronsjpimoul ox Delphic will shortly be available. Quotations are unchanged. Tlierfl is a brisk demand for kerosene, and stocks ox warehouse ar<> rapidly being donlslpf!. It is nan' reported ilwt tlm UrifK Huel di(l not. dear f|om Philadelphia until Anril ♦. instead ftf March 28 as first reunite). This will mean thai her cargo will not Ito available on this market until towards tho end of next month. INVERCARGILIj PRODUCB AND STOCK MARKET. (Frou ODR OWN ConRKSPOsnnsT.) INVEKCARGILL, May 5. During the week prices for oats have advanced considerably, and what were offering today wore readily placed et Is fld and Is lOd on trucks at country stations, while for several really prime lines as high 03 Is 10;. d was paid. The total offerings would not exceed 400Q to 5000 socks, the bulk of which changed hands nt the above prices. Several farmers who have threshed are still inclined to hold in the hope of getting still higher prices, and ask as (ugh as 12a on tricks at coptry stations. It is difficult to know what has put the price up, as no sales have been made to warrant such high prices being paid, but jt is understood that several merchants require oats for immediate shipment, and tins has had a good deal to do with the rise. T'ho weather continues unfavourable and very little threshing is being done, but, given a week or 10 days of fine weather, a large quantity of oats would be ready for the market. .Those who have threshed are not very, well pleased willi their yields, though in some cases really good returns have been got. One or two farmers in the Western district reckon that they have threshed 70 bushels to the acre, hut tJiie is much above what will be the general yield for Southland. There is still (i fair amount of grain to mit, but in nil probability it will be used for chaff later on in the year.

There have been good inquiries from Australia ami tlia North Inland, but merchants cannot get a jirice to cover what is at present being paid to farmers. The general opinion is that Australia will bo drawing freely from New Zealand during the next two or three months. No doubt the bulk of the Southland crop will bo a lit tie dark in colour, hut this class of oats, if sound, will be good enough for tlio Australian and New Zealand trade. It is not likely that there will be a great quantity of oats lit in colour to ship to London this yoav.

There is a good demand for last season's chuff for local consumption, and prices rule as high as JE3 5s to £1 7s Gd (ex stores, Invercargill). A good quantity of new chaff is offering, but as buyers reckon that there will be a considerable amount available this year they are not keen to operate at the prices farmers are at present asking—namely, £3 on trucks at country stations.

Very little wheat is offering, and what is available is selling a*. 3s to 3s Id for milling quality, while fowl wheat, which is in strong demand, is selling at 2s 10d to 2s lid on trucks at country stations. So far very little new season's barley lias been offering, as the bad weather has retarded threshing in the Garston and Nokomai districts.

Potatoes are still in good demand, and last week's quotations of £9 to £9 10s on trnoka at country stations are still readily obtainable, while the local market is being supplied at £10 to .-510 10s (ex stores). There is every appearance of the demand keeping up, as the quantities offering are very small. A few samples of /linseed have been offering during the week, and sales have been mado at 59 9d to Gs on trucks at country stations.

The ryegrass and Italian ryegrass markets remain unchanged at last week's quotations, but no seed has been offering during the week. There is no change to repori in the stock market though all classes of sheep maintain tile values that "have been ruling of late. Storo lambs are in good demand, and as high as lis (id has been given for good lines. There are several buyers from the north operating in Southland at from 10s fid to lis 3d. The demand for fat lambs continues, but buyers still complain of scarcity. Prices rule from Hs 3d to lis 9d, though it is reported that one line was sold during the week at las. .which, I think, is the highest price that has 'been obtained this year, that is as far as freezing for London is concerned, though butchers have been paying more than this for small lines for local consumption. -There is a good demand for wethers, and " prime fats " have been selling at from 17s to 17s Gd. Store wethers are also in request, and prices have been ruling at from 13s Gd to 14s. The price for ewes lias eased slightly, though any lines offering can still be placed at ft shade under last week's quoted prices. Present values can be put at lGs to 17s. Store cattle, in forward condition, ore in good demand, and have been selling from i'G 10s to £7. Prime fat cattle meet with a good sale at present at ptice9 from £9 to £9 10s. OAMARU GRAIN AND PRODUCE MARKET. (FiOU Otß OWX CoHKESrONDENT.) OAMARU, May G. The market again shows an advance in tho prices of several commodities—notably wheat, oats, and potatoes. Early in the week velvet was sold at 3s Id at country stations, less commission, but later the market hardened, and 3a 2d was paid for a number of small parcels. Tuscan advanced to 3s 2£d and 3s 3d, at v.'hich prices several prime lines changcd hands, while in one case 3s Id, less commission, was given, tho sample being described aa of seed quality. Mixed parcels of Tuscan and velvet wore taken at 3s lid net, and velvet only at 3s Id net, while one straight line of Tuscan brought 3s 2d r.et. Red chaff is scarce, but any samples available have found purchasers at 3s and 3s Id (loss commission). Seconds wheat has been sold at 2s 6d, but holders are asking an advance.

Oats are also firmer, holders being strengthened in their demand for higher prices by the reports from Southland. Meantimo sales are boing made, mostly in sniail lots, at Is lfld and Is IUJd (less commission), and in one case at Is 10Jd net for Gartons, and at Is 9cl (less commission) and the same figure net lor Danish. The supply at present available is short, and there is an impression that this ia partly due to farmers not threshing this ccreal, as well as to the idea, that pricos will advance when th. condition of matters in Southland is more accurately estimated. Barley oi fair malting quality has been sold at 3s Gd to 3? 9d. Potatoes are firmer, and sales mark an improvement on last week's prices. Derwcnts have been sold at £10 10s to 511, and Up-to-date 'at £11 10s, while seed lots of British Queens have brought up to £12 (all f.0.b.). —

DUNEDIN HORSE SALEYARDS. Messrs Wright, Stephenson, and Co. (Ltd.) report sys follows;— The entry of horses for our sale on Saturday was a small one, and as thore were no fresh horsca advertised the attendance was not large. Buyers were present for good, useful draught, but as there were none of this class forward they hnd to leave without supplying their requirements. The demand for active, young draughts suitable for farm or contract work is very good, and we can readily place any number of this description at present. Wo have now a largo entry of really first-class young draught marcs and geldings for our winter fair on the 7th and Bth June, and the outlook for vendors at this fixture is most promising. Wq have inquiries for good, sound springcarters and delivery-cart horses, also ior strong, reliable light-harness sorts, and it is with confidence Hint we recommend consignments. We quote: Superior young (}rai;glit geulings at from £50 to £55; extra good do (prize horses), £56 to £65; superior young draught mares, £80 to £73; medium draught mares and geldings, £30 to £45; aged do, £17 to £30; upstanding carriage horses, £'25 to £?,5; well-matched carriage pairs, £80 to £100; strong spring-van horse?, £25 to £35; milkcart and butchers' ordcr-cart horses, £2Q to £28; light hacks, £10 to £18; extra good hacks. £20 to £30; weedy and aged hacks and harness horses, £3 to £8.

OTAGO FARMERS' HORSE BAZAAR. _ Tile Otago Farmers' Co-operative Association of New Zealand (Limited) report: Wo held our usual weekly horse sale at our bazaar, adjoining wool and grain stores, Crawford and Yogel streets, oh Saturday. There was a good muster oi town and country representatives. Formers were not over numerous, but the town carriers itnd traders were present in full force. We lwd again a goad entry. Forty-five heavy ami light horses wero offered, and a fair proportion found new owners. Consignments came from Evan's Flat, Waitohuna, Bcrwiok, Taieri, Goodwood, and Waitati. The'country contingents were easily disposed of, every horsp being sold at prices which seemed quite satisfactory to both vendors and purchasers. Competition for youii", clifty cart horses was good. Aged sorts were difficult to place; still a good number went to fresh stables. We mentioned some few weeks ago that wo anticipated a fineness ip the price of young marcs and geldings, and this wo are now beginning to realise. The demand saeros keener, and this of course means a, hardening in values. We quote: Draught marcs and geldings, £50 to £55; van horses, £40 to £50; lorry geldings and mares, £42 to £18; plough marra and geldings, suitable for four-horse teams, £18 to £45; spring-carjc-rs, £25 to £30; order-carters. £20 to £27; buggy geldings, quiet and sound, £18 to £30; buggy pairs, £50 to £60; carriago pairs, ,£BS to £100. CLEARING SALE. The Otago Farmers' Co-operative Association of New Zealand (Ltd.) report: We held a clewing sale on account of Mr M'Carlriey at his homestead, near Portobello, on Thursday last, when the whole of his herd of dairy cows, young cattle, and dairying plant was disposed oI under the hammer. The cows were a fairly gcod lot, especially those close to claving, which realised good prices. Spring culvers, although good sorts, were hard to sell on account of the scarcity of feed. I'here was n good muster of farmers from all parts of the Peninsula, who wero well supplied with n splendid luncheon before commencing the auction, which whs started with the cows. Prices realised for cows close to calving and just calved ran from £5 10s to £B 10s; back calvers, £4 to £5; September and November culvers, £1 io £:] 10s; heifers, £2 10s to £3 10s. Implements and dairy utensils sold at satisfactory prices.