COMMERCIAL.

Otago Daily Times, Issue 13997, 2 September 1907, Page 4

COMMERCIAL.

. Daily".Times Office, Saturday evoning. BRUADSTUFFS. This evening's cables from London do much to, confirm tlio impression that the continued upward movement now manifesting'ltself in Mark Lane is no mere spasmodic rise, but indicates a genuine, steady, and permanent advance in wheat to a higher range of values than have obtained for many years. The effect of the broken weather, which is invariably the accompaniment of late harvests, is already being felt ; a fortnight's rain in England and Germany has greatly interfered with harvesting. Recent London advices emphasised tlio fact- that a continuance of fine ivcather was essential to tlio Bitish. wheat yield being an average one; tlio fortnight's rain, therefore, must lhako for a crop shortage in Groat Britain. Tho 6amc cause will undoubtedly lead to a further shrinkage in Germany's already iittontinted harvest; and this in its turn will rendor Continental buyers more keen for Australian cargoes. Most important, too, is tho decreased estimate of the Russian orop, just issued, this going to show Hint tlio' fond hopes of an increased spring wheat yield, making up for the partial or total failure of the winter wheat, arc proving all, too delusive. And so much does .tho future of wheat depend upon Russia's ability to export that every decroaso in tho Russian estimates will prove a powerful factor in forcing up the markets of the world.

. Tlio American markets, too, are gathering strength by reason of predictions'of frost in North-Wost Calihda and unfavourable reports of the Manitoba crop, which is said to' bo more backward than for the last quarter of a century. Indeed, indications now point tuoro strongly than eVer to the probability of America having no surplus for oxport-, if, indeed, she be not for the first'time ih tho position of an importing coitntr'y. Tho latest Mark Lane quotations show an advance of from 3s to 3s 6d per quarter upon tlio recorded sales of a fortnight ago; it is therefore not surprising that buyers should momentarily pause in the face of so rapid a. movement. Tho tone of tho market, however, is firm, and tho next' few weeks should witness a brisk business in cargoes and at enhanced values. Rather more activity was experienced in tho local wheat- market this morning, unci most- of the lines offering at 4s 4Jd to 4s 5d liaVo been picked up; whilst others liave' been withdrawn, There is. now, therefore, little if any wheat to bo purchased at under 6d on The growing feeling among grain men is that he is a wise man who for the present holds on to his wheat whilst he who sells is tho opposite. DAIRY PRODUCE MARKET. Under date 28th inst. tho Wellington Trade Review reports as follows: — Butter.—Many of tho factories, especially in tho North Island, have commenced operations for tho new season. For the timo of year milk is plentiful, and tho prospect so far as output is concerned for the season 1907-8 is favourable. However good tho conditions may be, it is nevertheless impossible at tho moment to saif whether there will be an increase or docroaso in the quantity exposed. Tho

prices obtained for cheoso last year were so high and remunerative to producero, and tho prospect of a continuance of profitable prices is considered so good, that many factories have decided to' turn to tho production of cheoso this season instead of butter. The rosult of this ohango of policy will bo to dccrca*o butter shipments and largely incroaso tho output of cheoso in somo of the dairying districts. In tho South Island no marked increase is anticipated, but in the nortborn portion of the North Island it is expected tlwro will be considerable developments. At time of writing no business has been reported in reference to the coming season's output. Cheese.—This season's output will bo a record one for New Zealand.- The, prices likely to rulo aro. at present very uncertain, but it is not anticipated that , last year's high quotations will be maintained. " IMPORT MARKET. Pending the settlement of the tariff, business continues on the quiet side, and 110 notable change in values has been experienced during the week. Tho Karamoa has brought the first consignment of new season's herrings, which are quoted as follows: —iFresh, 63 3d; in tomato sauce, 7s 6d; and kippered. 7s 9d. Another sharp riso has taken place in twine, both juto and hemp, and current quotations aro as follow:—Thin grey, Is; medium, 10£ d; coloured, lid to Is; and thin, Is Id. ■ . ■ _ , An advance has taken place in Morton s salad and castor oil. Salad oil is now quoted at 5a 6d for half-pints and Bs. 6(1 for pints. Castor, 4s 3d for half-pints and 6s 6d for pints. Ilctton's castor, 4s 6d for. half-pints and 7e- 6tl for pints. In reference to salt, the Wellington Trade review remarks:—"Thero is a rumour that an undcrslaudiivi? lios boon oome to between South Australian d&ilcrs, which will mean higher prices horc before long: but- in tho mea-ntimo good businces is being 1 done at last rates.''

CUSTOMS RETURNS.

The following - arc the Customs returns for the month of Augiist:-On ordinary goods cleared for consumption, £47,305 las 7d; on l-oer, £2383 19s lid; gold exported. 79010z, valuo £32,093. For August, 19C6. the duty on ordinary poods was £<!S,OZA 7s lid* on l>per, £2182 14s; and the gold exported was 11,82303, value £47,638. The only material difference is in the gold exPOtl<!l '' AUCKLAND, August 31. The Customs duties for the Port of Auckland for the month of August, totalled £71,033, and Mo beer, duty £1984, as against £67,477 and £1666 for last August. The export* of gold and totSUcd 36,45107. (£145,292) and 152. Wlo* - $5,9*1 respectively, as against 22,3310j: $90,652) and 111,56508 (£11,3301' in August, 1906.

OAMARU MARKETS. .

(FP.OM OUR OWN CmmsBPONDENT.) OAJ.fARU, September 1. The local wheat market is stagnant, neither millers nor holders being direct to coney a anything. Anv small linos offered jre mot with counter offers, and values. are therefore indeterminable. , „ r . ~ Oats have baen offered from South Can.erbury, and the market is without alteration. Potatoes arc offering too freely, and £ ; .103 for primest l is full value at fanners...sidings, net. ' '' ■

SOUTHLAND MARKETS.

(From Our Own Correspondent.) iWEHCARGIL, August 31. ' During' the week the oat . market lias slightly, and the price now being for B °Tado is 2s &Jd on trucks at cmtniry tfalToiis. Northern buyers will riot pa}' more than 3s (f.0.b., sacks in). It 13 reported that Australian oats have been dehvercd to of the main' New Zealand ports at ..s 2d, and if there i</ any quantity of 'those a.vailab.o wis must have a tendency to keop our prices down. Seed lines are sffll compot« for. and these can be quo.ed at from 2s ikl to 2s lldi on tracks at country stations. chants are soiling dressed lines at from 8s 3d to 3s Cd, but, iafcn all round, there has boon very littlo business doing during tho TOeki and merchants are not at all keen to stock 11I Cha£E is exceedingly firm, Mid. tor good quality the price ie £5 5s oil trucks at .coupuy stations. The local market is using about all that is at present offering. ' Table potatoes are nt present very tmvll oi sale, and can be quoted ot from £2 10s to £3. Seed lines are still saleable at lolly £1 over thoso figures. . . ■ , During the week a deoided rise lias tweon place in tho sheep market, 110 doubt m consequence of the satisfactory rain up nßrtn. AU classes of pheep, with the exceptiwi oi freezers, hfl-vc' talwii a-n advance of to « per head The rise has''been meat notftceabi© in ewes, and these are exceedingly ted to get hold of. It would be quite safe to say thau between 10.003 and 15,000 sheep have changed 1 hands in the Western district during tne hs* two days. Hoggets are now being quote*! sw IBs 6d to 17a, and young ewes at from 23a to 265. Freezing sheep have moved a little, and buyers are Again operating at from 21s to 22s Gd. A number of northern buycrs for alt classes of sheep are still in the district. Beef is still being quoted at Ms per 1001b, and is exceedingly firm. , "Wlini is available is in strong hands, holders expecting to Sie a decided rise in price within the. next teohtli. Crcod forward cattle are also in strong demaud, bullocks being quoted lioni £6 10s to £7 10s. Younger cattle showing any breeding ftro easily placed at fully up to laati values.

Farms iii Southland aro still selling froely, and northern buyers Continue to colno down in search o( suitable properties.

STOCK EXCHANGE. (Fhom Oun Own Correspondent.) WELLINGTON, August 31. ' Tli do were unsatisfied ■ buyers to-duy of Nationals n-t> £5 Gs Gd, arid.Now at £10 10s were neglected!. Loan and Mercantile* were offered c-l. 6s without buyers. In insiuraucc, South British would have bfcen acccpterl at £5 10s, iiikl Nationals had a buyer at £1 Os Cel. iWoollcns wero-in'ilemaud—llaiapais at £4 10s audi Wellingtons at £3 Is (berth cum div), and llcigiejs at £i IBs—all being rooted. Tli3ro was a buyer of licyland O'Briens at £2 ss.

DUNEDIN HORSE SALEYARDS. 3»Eossrs Wright, Stephenson, and Co., report as follows:-There was a fairly.good display of horses forward for last Saturday's sale, draughts especially being well represented. The attendance of the public, was first-class, most of the town contractors and many fariners being in the yard, all aAxious to secure horses suitable for their respective work, and consequently a good sale resulted. With half a dozen exceptions, the draughts veto rather aged and worn, and for such bidding was not so keen. Wheu. however . young, useful animals came under the hntrimer competition proved spirited at fuilv up to'late rates. The inquiry for useful farm horses and those suitable for contractors and town carriers continues keen. We quoto: Superior young draught geldings, at from £45 to £50; extra good do (prize-winners), at from £50 to £55; superior young draught lhares, at from ioO to £60; medium draught mates and geldings; at- from £30 to £10; aged do, at from £15 to £20; wcll-matchod carriage pairs, at from £70 to £100; strong spring-van horses, at from £1" to £30; milk-cart and butohei;s' order-cart horses, at from £18 to £25: light hacks, at from £S to £13; extra good hacks ant] harness horses, at from £18 to £25; weedy and aged do, at from £5 to £7.

OTAGO FARMERS' HORSE BAZAAR. -Hie Otago Farmers' Co-operative Association of' Hew Zealand (Ltd.) report:—We concluded our spring sale on Friday last, the function turning out 0110 of the most successful we have held for somo time in tho way of horse sales. For both days 195 horses comprising pedigree mares, high-class cart mares and geldings, vanners, spring-carters, expressers, light harness horses, and a few buggy, cobs passed under the auctioneer's hammer, and a very large proportion of this number changed hands, principally to country buyers, at very satisfactory prices to vendors and purchasers. Despite the many detractions of the winter and present season, espooialiv in fanning pin-suits, the sale was kn unprecedented success. A largo number of useful marcs and geldings, young and sound, realised prices ranging from £35 to £■15; lighter sorts a little older. £25 to £33; vanners up to a ton, £35 to £40; heavy' lorrio pairs. fSO lb £100; useful olough mares mid geldings,. £30 to £40; carVioge pairs, £80 to £100; pedigree Clydesdale marcs, up to £150; well-bred good sorts of Clydesdale ipare3 stiitab'e for stud purposes and general farm work, £10 to £15. ' " '

THE FRUIT MARKET.

Messrs T. B. Shiel and Co., auctioneers, report a record sale of Sydney fruit so far as. this season is concerned. The fruit arrived ex Moeraki in perfect condition, the bulk of it being direct from the .orohard, showing that nowadays growers begin to realise tile necessity of shipping to oversea, markets on their own account. The catalogue comprised nearly 700 cases, and was readily quitted at the following rates:—Pineapples, rough, up to 10s; Queen's; 9s; mandarine, extra choice, 7s; oranges, prime,- 7s; poorinan oranges, 53; passions, small cases, is Gd; cucumbers, 7s C-d. The same firm had a 'most successful sale of Fiji fruit, when well-kfioirn brands of bananas realised 9s to 10s per case. Vegetables being still p. scarce commodity. Australian shipments of cauliflowers realised 7s to 8s -per dozen. The market still holds firm and incoming shipments should fare well!

SALE OF SHEEP. This National Mortgage ami Agency Company report as follows:—Wo report having held a moat successful ga.lo of sheep in our Mata-nxa yaids. The day was beautifully fine', and in consequence largo numbers o£ buyers from all, parts of Olngo and Southland, and sovoral from South Canterbury, were pre:ont. Our yarding totaled 4950 plieop, of which ail were sold with tho exception Of part of two lots. Tho demand for young, good ewes and hoggets was very keen, and all tho lots offered brought prices that were very satisfactory to tho vendors. Most of tho rficcp were bought by Southland farmers, but a few lots were purchased for Tapanui, Lovcll's Plat, and Oanraru. The following will show tho prices for the principal lots sold.. On account of Mr John Barry we sold 1100 two, four, six, and eighttoofJi cwos at from 223 lid +o 23s Id; and 80 full-mouthed owes at 13s 3tT. On account of Mr George Kerr, 290 six and oight-tooth and full-mouthed ewes at 21a Id; 350 four, six, and eight-tooth ewes at 21s 8d; 300 owe hoggets at 18s 7d; 350 hoggets (mixed sexes) a>t 10s Id; 690 hoggets (mixed sexes) 'si 15s 4d; 80 four and six-tooth ewes at 2Gs 4d. On account of Mr Mutlhew Diolae and other vendors we sold 12? full-mouthed ewes at 17s; 184 full-nioulheil owc3 at lis 4d; 187 hoggets at 17s Id; 54 hoggets a.t lGs sd; 80 hoggets at 13s Cxi; 25 two-tooth wctlrrs at 17s 2d; and 16 fat sheep at 19s 3d.