COMMERCIAL.

Otago Daily Times, Issue 13894, 4 May 1907, Page 8

COMMERCIAL.

Daily Times Office, Friday evening. BREADSTUFFS. Another week of brisk business in wheat is reported from London at steadily advancing prices. Last week bales were reported at 31s 3d. this being tlio record price secured to ddte for a shipment of this season's Australian wheat, and about two and a-half million bushels chaiigcid hands during last week in Mark Lane. This week the sales rjtbled include a dozen cargoes and several largo parcels of Australian wheat at 30s 9d to 31s 9d, a number of cargoes at prices ranging from 30s 10id to 31s 6d, and a number of cargoes at 31s 6d and 32s 6d. The condensed form in which this intelligence roaches us makes it impossible to estimate tlie aggregate which these sales represent, but it is fair to assume that it will equal, if not exceed, the business of las; week. The prices paid, however, signify a. strong and rising market. The following retrospect of the rates obtained for Australian wheat in London since last November will illustrate the importance of tho latest movements:—

Sales of new season's wheat wfcrc inado in Novemebr at. 29s Gd to 29s 7Sd, 480lb, c.f.i.; ill December a little business was dene at 22s 9d, a rate which ruled until January. In the latter mrt of tho month 29s M to 30s was scoured for hull a dozen cargos, followed by 2)3 10k! to 30s lid. January 25-29, for further shipments. Early ill February eight eargos brought the same rates, ami tliMi oh February 11 a dozen cargos realised 30s 3d to 30s 4lu, the market advancing to 30s 7Jd. although ono Victorian cargo brought 30s. Sd two days later. A bull set in, relieved by occasional sides, during the new few wefts at slightly easier price;. At the end of March a South Australian January shipment wis quitted nt 30s IW, and a Victorian one nt BOs 3d. On April 12 a Victorian February cargo went at 30s lf.d; a day later 80s Gd was paid, and -then buying 'recommenced on li large scale, as reported above.

Now that the London market has mado so substantial a move, the indications point to a further vise—indeed, with the famine ill Russia, the reported damage to the Continental crops owing to severe winter weather, the uncertainly of the American situation, and the bis demand for flour ill the East, the wheat position is full of possibilities, and gives considerable scope for the daring speculator. Thus all sorts of developments aro on the card, am! the events of the next few week? will be closely end eagerly watched bv all interested in the staple. Latest London advices report the market firmer owing to damage to crops in American' and ftermanv and .a strong Continenli.l demand. Writing nwl"r date London, -March " TVerhohm" summnris<"s crop prospects as follows; —

■ We arc now enjoying fine springlike weather in England, which nm=t be very favoumb'e alike for soring sowings nml the wheat, which hitter, on the whole. has a very promising appearance. In France one lienrs very few coniDlaihls regarding the concliiion of the growing wheat, although if is recognised that soiiie winter killing has taken place, the extent iiot yet beii'g easily discernable; soring sowings have made gocd progress. In Germany last week the weather was iingcnial, with frost, snow, and rain, and net iii favour of tho crops; a good deal nf teolonghing of tho whwt crop is reported. and it is expectcd (hat tho land ivill be rcsown \yith oa'3, which aro at a more attrßCtivo level of prioe than wheat. In Hungary, according to.-an official report issued this week,

there were complaints of damage to the autumn sown crops Ly fi-jst. storms, mice, ctc., and good Wc-sihor conditiohs in the spring are nc< crEitry tj restore the cut'coli to n normal one. In Austria the crop conditions are scir.ewhat similar to those in Hungary. From Spain wo learn that the prolonged drought, following an unusual winter, is seriously impairing (lie crop outlook in the ino?t important wheal ptoducng purls ot tile country. In Italy, however, the prospects remain normally sptisfnctcrv. Regarding rgrieullural affairs in I'oumnnia, our Kiistcndjs correspondent writes (March 1G) as follows" We have lie<l quito an extraordinary change, and since yesterday nit-reing the weather has been of a severe wintry character. Snow fell heavily all clay, followed last night by a strong X.W. wind, alul the ground is frozen again. This, of course, hinders field work, which had been commenced, and farmers will not bo able lo resume ploughing ar<l eov.'ing for.pome time. Should this weather oontinue. there may not bo time to complete the spring sowings." Our Bourgas correspondent also reports (March H) weather very bad, with snow, and strong north wind. From Russia but fev: complaints regarding tho autumn-sown crops ore now heard, but it w reporter! that the continuance of wintry conditions rendered it probable that spring sowings might be delayed, as is also tho case in Itoumtuiia. From India tho weather reports this week have been variable. Yesterday's reports advised belter conditions iii Bombay and Calcutta, but rains were ger.eral in the Knrrncliee districts. It is tcircd that the Calcutta crop, liko last year, may again bo more or J,ess a failure,-but x> far prospects in tho Punjab and the United Provinces, wlui-e tho aroa has been increased by about 1,200,000 acres compared .villi last year,-lire regarded as favourable. Cur latest cables regarding tho American wheat crop aro summed up as follows Kansas, favourable; Oklahoma, less favourable, although difficult to gauge extent of deterioration; Texas, crop considerably injured; Indiana, favourable; St. Louis district, scattered reports of damage, but nutlcok, on tho wliolo, not unfavourable); Michigan, frost did Some damage. In Canada tho final returns of the last crop compare as fellows with the previous year's yields. 1800-1807. 1903-1908. Bushels. Bushels. Manitoba .. .. G1,230.000 55.762,003 Saskatchewan ~ 37,010,090 29,107,000 Alberto 3.030.000 2.306,00 D Ontario .. 22,100,000 22,19.1003

Total 323,393,000 10G,370,000 In view of (ho fact that the primary receipts so far this season are less than last year, it may bo inferred that tho amount to como forward is much larger ■than at this Gate'last j'var.

The Commonwealth nftrkots have promptly responded to the rise in London, Sydney quotes wheat firmer at 3s sd, as against 3s 4d last week. Melbourne quotes is 4<l, as against. 3s 2d to 3s 3d last week, and Adelaide atao shorts a slight rise at 2s 3d, as against ?s ?id last week. The Sydney Mail, wider date 241 h nit., reports:

Tho local wheat market lias further advanced since last week, owing to the improvement which lias set in on the other side, and to-dSy holders \vcre quoting 3s 3id to 3s 1(1 Darling Harbour, for parcels. Business on millers' account was reported yesterday at 3s 3Jd, which represents a rise of a full Id per bushel in a week, and of lid to 2d on the fortnight. The inquiry from millers for good-sized lines has been strong yesterday and to-dav, and it remains to be seen whether growers will embrace the opportunity of realising tho enhanced vp.bies ruling or hold off on the chance o! the market further strengthening, and in this connection it is well worthy hearing; in mind that only half the Australian surplus over requirements has been _ «xporteil. New South Wales, after allowing for Queensland trade, has some sixmillion bushels yet to move.

Tlie Town and Country Journal of same date lias the following:

The buying ami filing cf wheat in Sydney at tho moment are to a great extent a gamble oil tho woatlier. Large numbers of small rales were effected during the forenoon at 33 S 2 d per bushel (Sydney basis.), but most holders are asking 3s 4d for f.a.o. samples. A sale was made of 2400 bags in one line at if oo nnr.™! Syd " C / accou "t- A lino of -2,000 bags of f.a.q. wheat wes on tho market, but up to noon the holder's idea of value was not readied. Milling grades 0 f f'V"™, 600(1 P lo F£tty, especiailv in \iew of the dry weather in part of* the r IT I? na , delayed ploughing, the smaller deliveries of wheat from farms where the farmers are busy ploughing, and the lower t™Lond r ™ m T ' relShtS | f<,r steam " s Pace m ' Llvor P° ol < "'id Glasgow. ... iocal lvllcal "' market is evceedinelv WWfcisrif sales of velvet being reported in the Wa ' Ti.ato district at up to 3s 6d, on truck" a"ked'" • th ° fam ° prics is I)cin P whcit ; a °' S ' l - d ?" bt that millin ? i. w- 1, \ CQI ■ 1 - al ' atlVcly , 61,11111 and witli a nsing market in London holders arc inclined to put up the price Nominally, quotations range from 3s 4ii / V, r\", P , t0 5(1 fOT ™lvot and ■Ulscan, but until the effect of rccent operaions has been observed, and tlio amount of he .transactions at' the "high j, riccg d is . closed, it is difficult to exactly report upon the market. The market is extremely sensitive, and the tendency on the part of holder? is to anticipate advances in Australia and London.

Owing to the absence of damaged wheat this season chick >vheat is now practically unprocurable except, in very small lok ilie local market is bare, and Tiiuarn j* unable to quote. Nominally good wholo fowl feed is worth 3s 6d f.0.b.5.i., bul the prospect, is fot- fowl feed and millij]£» wheat to approximate in pricp. 7 Contrary to general expectation the New Zealand Flour Millers 1 Association has notadvanced the price of flour, despite (ho hardening of the wheat market, and tho advance in flour in Australia. The is that, an advnaec in New Zealand can"not much longer be delayed. In tbe meantime the tariff remains as follows- — Sacks, £8 15s per ton; 100's. £9 5s- 50'p £9 103; 25's, £9 15s. The shipping price stands at £8 10s per ton f.o.h, The Sydney Mail reports:—Millers, in view- of the upward trend of the wheat market, aro very firm in their flour quotations, f.nd to-day an advance of 5s took plaee in city brands, which are now quoted at £7 15s, with country makes at £7 5s to £7 7s 6d i>nr ton. and country makes as 5s less. Large export orders have heen secured l.ifolv for the Fast at good orices. Last woolc 343 tons were exported oversea, of which 147 tons \fent to tlongkong, 50 tons to Japan, 47J, tons to Singapore, and 18 tons to Dutch Borneo.

The Town and Ooitntry Journal remarks: —"In sympathy with tbe rise in wheat, the, leading Sydney brands of flour have lieen advanced to £7 15s a ton. Lartre sales of flour have l»en made during the last week, as several cf tho Sydney and suburban bakers, who were shorUstoekcd, thought it advisable to cover."

According to this week's cable, flour in Sydney has since been advanced to £8 per ion.

There is a brisk demand for offal, particularly for pollard. Prices remain unchanged—viz., pollard, £5 per ton both fcr local and shipping orders: bran, £4 for local orders and £3 15s f.o.h. for shipment.

Tho oat market, is in a somewhat peculiar position. Tlio demand is almost entirely on tlifi part of tho millers, and to fill small local orders, and for these high prices have been paid. Sales arc reported at 26 scl Kelso, and Gore holders at'o asking 2s 6(1 at country stations for B grade, On the otlior hand, shippers report an entire absence of • demand. and although the current quotation is 2s 8d f.0.b.5.i., no business is doing. This is accounted for by the fact ihat shipments of Australian oats are being mado both to Auckland ami to tho West Coast at lower liricos than tho Now Zealand article can be obtained at.

Oatmeal is still quoted at £14 per ton, and tho price of pearl barley is unchanged at £14 to £14 10s.

PRODUCE MARKET. Heavy deliveries from the north, coupled with importations from Melbourne and Tasmania have consnired to depress the potato market, but deliveries are slackening. and the market closes with a. slightly belter tone. Prime table Derwenls are saleable at £4 In £4 ss; others from £5 10s upwards. Melbournrs are offering at £3 ss, and a litie of Iloliarls. was emitted at £4.

The butler market is without change. Dairy is quoted at 8J(1 to 9il. milled 9d to 10(1. and separator at 9|d to lOd. Firstgrade factory in 'liiotcd as follows Prints, 113 d booked and lUd cash: bulk. llid. Cheese.—Factory nuxlnuns, 6Jd per lb; Alraroa loaf. 6id per lb; medium. 6d. F.ggs keep firm, anil tho quotation is now 2s per duzen for fresh. Is 2d for chilled, and Is 9d to Is lCd for case eggs; Is 3d for preserved.

Pouliry.—ln heavy supply and limited demand. Hens are quoted at Is to 2s per pair: roosters, Is 6d to 2s Sd per pair; ducklings. 2s to'2s 9il per pair; geese, 3s: turkeys—liens 5d per lb, gobblers 7|d per lb.

Pigs are in brisk demand, both baeoners and porkers being quoted at sd. Bacon.'is scarce at Sid to Bid, and liani at 9d.

Chaff continues easy, and £5 per ton is the top price for extra prime oaten sheaf.

FRUIT AND VEGETABLES. ■ The arrivals for the week include 150

cases from Sydney, 180 case* from Melbourne ami Hobart, the Vau Van shipment of 4GO coses oraiigos and liana mis, and moderah of Canterbury and local fruit. The Suva shipment of bananas is due on Monday. Current quotations aro as follow: —

Oransos.—Rnrotongau. 6in. 5s to 6s; re. I'licts, 7a 6d: Sydney. Is Gd to 2s 6d. Bananas.—A'au Vau is lander] 6d to 5s 6d per case, according to condition. Lemons.—Sydney, 7s fid to Cs; Messina, double case, 20s; Friscos cxrcctctl. Quinces, ljd to 2jkl per lb.

Apples.—Prime cookers, 4s 6d to 5s (xl (ljd to 2d per lb); medium, 2s 6d to 3s fid; deserts, 5s fcd to 7s 6'J. Pears.—Victovinns, 10s to lis; Hobnrt half-eases, 4s to 5s G<l: Canterbury, 4s 6d to 8s Gd.

TomatoesChrislchureli, outside-grown, ljd to 2id: hothouse, 4£d to GJd; local hothouse, 7d to BJd.

Grapes.—Choice hothouse, Is to Is 4d; medium, Gd to Bd. Clover Honey.—Now season, in 101b tins (southern), 3s per tin; lib packets, 4s 9d to 5s 6d: bulk, 32d to 4d.

Nuts.—Japanese (large), 3d. Cocoanuts. market bare. Bra7.il nuts, 10c!; walnuts, 7d to 7id per lb; chestnuts, to sd. Vegetables.—Cauliflower:!, Is 63 to 5s 6d per sack; cabbages. 2s to os per sack: Ffench bcatis. 3Jcl pof lb; marrows, 4s to 5s per sack: pie melons. 5a to 6s per cwt. Onions.—Melbourne, Brown Spanish, £5 10s to £6. W 7 c arc requested to state that ths alx>v» quotations for produce, fruit, and vejotables arc current wholmlo prices betorton amenta and distributors. LONDON MARKET!?. LONDOX, May 2. Silver, HO o-10d. Copner: Spot, ±107 5?: three months, £101 5s The supplies are 24.11)9 tons; deliveries. 2G.MI ton's; stcrks, 12.958 tons; afloat 4000 tC 'rin: Spot, fI9C; three months, £103 lo>. Stock, 10,111 tons; spot. HO2G tons; afloat, QSOD tens; deliveries, OGfil lons. V'V iron, O The tallow stock is 10.700 ra?ks; imports, 7.131 casks; deliveries, 4U31 casks', Tho American vifible supply of v;Usat is 81.795,000 bushels. Fourteen Ih'.HiFand quavtors of June and July v/heat fold fit 32s yd. V7OOL SALES. LOXDOX. Hay The vrool market is spirited. Tho sale is vary firm at opening rates. Merinoes p.nd ccarse crossbrcds r.re more active, but medium wash* crossbreds are slow. The following qto the Average prices realised for the fleecc portions of the clips named:— Tcolni. 10M; PjilupnUi. lOJd; Hamilton Downs, lojd; Flat. Point, lid. May 3 (deceived May 3, at 7.51 p.m.) Tho following wcro the average prices realised for the fleecc portions of the clips ininsd:—Clwenco IQJd; AVaitiui. 10j|d; Moeraki, ll*d; Kaputono, 17£ d; Gibb, 21d. (Per United Press Association.) ■WELLINGTON, May 3. Tho Department of Industries and Commerce has received the following cable from the High Commissioner, d?tcd London, Ist inst.: —

The weal sales have commenced. There is a large nltondanee ot buyers, awl competition is active. Prices lor merihecs mid fine crossbreds of nit giaucs arc firm. Prices for medium and coarse crossbred arc slightly lower. Tho National Mortgage and Agencv Company lias received tlie following caLlegram from its London office:—"The wool market i'i temporarily depressed on ncoimt of the financing of largo arrivals. Medium qualities ore chiefly alicctcd/ AVe, however, expect a demand in July or September."

GimiSTCIHJttCII CHAIN MAIUIET.

CHRISTCHURCH, May 3. There is <i good inquiry for -both wheat and oat?, hut there is nothing offering. Holders of wheat nro evidently determined to trust (a the future of the market, and supplies of oats in any quantity will 110 doubt have to be obtained in Southland.

PROPERTY SALES.

Messrs James Samson and Co. report having sold on account o) Mr Hatton liis leasehold property, being corporation lease o£ allotment 1!!, sub-division of section 3 and 4, block VI, Town District, with a frontage to Eglinlon road oil which is erect sd a commodious dwelling of eight rocms, bathroom, outhouses, and vinery thereon, to Jlr J. Hay, for £630. On account Public Trustee, allotment 21, 23, and 24 on plnn of subdivision of allotments 24 and 25, block IX, township of South Duncdin, being land described certificate title vol. 10, folio 238, and vol. 62. folio Mo, with frontages to Bay A T iev.'-road and Arney street, on which is erected cottage and stables, to Mr Johnston for £-215. Allotments block \AII, Extension of Forbury, containing 10 poles, situated corner Nelson street and Nicholson street, South Dunedin, on which is erected a dwelling of six rooms, bathroom, and outbuildings, was sold to Mr Coop for XtSO. Jlr Thomson's farm of 52 acres situated Broadacres, Main North road, aorth-East Valley, and 22 sections Township of St. Leonards with five-roomed dwelling thereon, was purchased by Mr T. Collins for m Soohons 33 and 34, block I, towns!™ •ii i l ' Valley,. containing 20 poles with a frontage to Black's road, on which is to T> R J i reC ' r ? n " lea ' d "' «'as sold to Mr R. Wilson for £100.

CLEAIUNG SALE AT ANDERSON'S bay.

The Olngo Farmers' Co-operative As-oela clearini 2,7 Z f c# j , ? d »P*t"-4. taKU Sbi ° f '] wry cows - farming im p ! e . OMr Tboma, T T !'- e!l f' ls ' K1 nccomit \r,» 11 ? n ' at * 113 homestead, near Musselburgh, on Tl.uv.scky last. Tl,ero nf ei ir ™i' ianc " ot b ">'" 3 from all part 8 of tl.o district ami a great of ?nn eers 1 if- Peninsula, Pine Hill, Saddle 1 , md Taicri. Tim auction was dS «il!i tlia cows, which were all j n f lno f res i, condition, but the fact Hint a good number o hem bad: calve, militated cSfc ably a b amst high prices. However, tho whole StiiSctS? price? 17 Plal " loUnd b " yCr3 at

• SALE OF CHAMPION POLLED-A\GUS cow. Roberts, nnd Co., 0 1 Glad*ook M.ddlemarch, lave just disposed ot tteir famous J. oiled Angus C bw IW to Hau'kf s IV D ' pI MI -' e:l »> of Mtmieltifaho, Uaukes Lay. Flower has had an unbeaten showyard career. She brgtu by taking firs" prize ami champion as a: livo.y«ij-. o jd in Duneclrn m l,)Of, and has been shown every year since, with tho same result. Last vcar2l v»s shown at the Cliristchurch Jn!ernal ; on:il Show, and there won the highest Jiononra 1 ower is perhaps (be trueat type ot a Polled no? "h* "J' ., prt '. sel ! t in colony. She is strninlif' ) ', s beautifully balanced, nnd strwght on top, with a perfect bwd. Flower . th V!? t! ' d . im P orlc<l '"ill Mistral lireerlet 11 *"' 1S WC " amongst tecdcra in }\e\v Zealand. Her dim, Quotta is n 1 S T\ l )rizc -' v i'"i»i? cow, mid is out of the standard cc.w Quetfn, by Lancer of Adyic. Qncltu and Lancer of Advie were both imported by Xr C!! rs Murray, Hobcrts, nnd Co. about la years r SO . Alous with r ower goes her bull ;al(. He is j, v tho chanip'oij imported bull Heathen, which is hall-brothor (a Colonel il'lnroy's Smithlield Cbaiupioi, Flower .s stinted to the imported rica bull Ebbs, of Ballindallorh, who ™ fi't-W"? M\ at. Perth. Scotland, d„V •i.V 1 , ng ot 9T ' a!,<l !l " the distinguished honor of being the only hull m ?ncw Zealand that has bealen a Highland bociety mnwr. Along; witli thefe two goes another web-brcd cow, Fame. She is sired by the imported Ralph of Carrion, mid i= cut of Almond, by Lancer of ACvie, g.g. dam Kathleen II ( imio . Xeed!e=s to sav? « wn ™ only I lie record price offered that' induced Messrs Murrey, Roberta, and Co. to part with this famous cow. ihe consii*iin:cnt w?.s forwarded yesterday by the Turawera.

lIIDB SALE. Ifessrs Jfortizson and Co. report Uaviu" lifkl their usual fortnii;htlv sale to a good attendance of guvrrs, mid although light hides were down frc-ui Id io Id heavy ox ore kccuin« firm, with only a plight falling: off in value! ■re was very keen competition for all hides and skms. and prices realised were very satisfactory, especially for heav'es. Quotatlons arc as follows:-Ox: Extra stout," 73dheavy, Td Id 7\d; medium, Old to 7d; li»h|. M to GJd. Con-: Extra stout, Old; heavy' M to G}d, medium 3!d to Gil; li.qht, sld Io u.,d. Stag. -IJd to ojd; yearling, s,'d to Old • callskins, from 2s Gd to -Is Gd; horsehides, 10s Gd to 12s (id.

Messrs Waters, Ritchie, and Co. lepcrt liav'•!n hc-id their usual weekly .sale of hides at tlifiir stores yesterday morning. There was r good r.tiendance of btivers, and competition was keen throughout the sale. As expected, prices -.veve decidedly easier uwing to a f.ili of Id to 3d per lb in the Australian market. M-odium and light hides suffered most, being from Jd *to It] per lb lower thai: the previous sale. Heavy weights declined from Jd to fd per lb. Our catalogue was made up of 419 hides. 26 yearlings, ami I:) caliskins, and v;e cleared the lot at quotations:— Extra stout ox. 7d to 7). d: heavy do, G'd to medium and light, 5Sd to GUI: heavy eows. 5Jd to Gd; medium and light, s',d to Cd per lb; calfskins (best), CJd to GJd: melium, 55d to Gd; inferior and damaged. 3lcl to 5d per ill.

CLEARING SALE AT INCH VALLEY

Messrs Dalgoty and Co. report having held a s»!o on the ?nd May of form and Ftoclc and in'.picm?ii(<i on account of M- .Tamei fiateiel. of Inch Valicv. Tlio farm, comprising ICS iicrea. was firrrt offered, but as llio bidding did not reach the owner's itln of value it was pa=;ed in. Immediately aiier.ve.ids the clc.iriny sale wna proceeded ivilli. There was a very large attendance cf furmers from the eurioimdiiSji distrie'.s, and (he wliolo of Uio r.loclc was disposed o! iU fair marlict rales. Tho diiry cows v/pr? nil out of lirofit, and consequently did not brills; liiali prices. They realised from f» 15s to £5; two-year-old heifers to £3. The unbroken draught colts and fillies were a vrry nice lot, and sold as follows:— Chestnut filly, two years old cfi, £t): bey filly, risinz two years old. lray fillv, two yftj.rn old off, £30; chestnut filly, £17: llio farm horsos v.-ero all aged, rml mado ui> to £il. Inrilements and sundries were railicr slow of fa.'e.