COMMERCIAL

Otago Daily Times, Issue 14686, 20 November 1909, Page 6

COMMERCIAL

Daily Times Office, Friday evening.

BREADSTUFFS.

Tho London cablegrams that have been received throughout the week indicate a market which simply retains last week's position. Forward buying continues at late ratas, •no material increase- or • deorcaEO ' having occurred in the prices quoted. It will be noted from the subjoined extract from " Bccrbohm " that this London authority is disposed now, in view of later and mora accurate statistics, to tako up the opinion that prices from now on will reflect lor tho third season in succession a determined struggle between sellers and buyers, as the supply dees not seem capable of coping with the demand. Later on, when our crop becomes available, this will affect tho New Zealand position, but till this Dominion is in a position to become an exporting country, our market remains a local one, governed by the supplies held in the country, and tho demand experienced for this wheat on tho part of milfors, who, from all 'reports, are fairly well supplied with possibly a few exceptions. A position more serious than was early anticipated is forecasted and supported by statistics by "Reerbohm," writiivg under date London, October 8. It is said:—"Tho wheat market has drown considerable strength this week, but not much animation. The shipments from Russia lost week wcro again very large, and the total for Europe was almost a record one, being about 1,525,000qr5; tho proportion for the United Kingdom, 'however, was relatively small, andi having regard to the scarcity of home grown wheat, the supplies of foreign wheat so far this season must be described as having been very moderate in tho United Kingdom. ,Thcre are nor, wanting signs that tho Continental demand this season will bo very large, and it is also prolty certain that the English requirements of foreign wheat, will bo larger than wo assume:! in our statement on September. 10 showing the probable requirements of tho importing countries, and the procablo exports from the shipping countries. On «ho othor hand it. is, wo think, evident now that the exportable surplus in the shipping countries will not be so large as was then assumed. Witli regard to America we find that her exports during the three months ended September iu have amounted to only about 25 million bushels, against 45i millions last year, and 32 million brisliels in 1907. The probabilities also are that the Argentine'suiiplus will net equal last year's, and (hero are fow'w'ho expect a greater quantity than 12 million quarters ■from this source of supply during the present season, in view- of the reduced area sown and the ovitkmt exhaustion of old wheat slocks. Roumania's crop has turned our mucn less than was expected, and her surplus will bo mainly absorbed by a new importing country—viz., Hungary, where about one million quarters have already been in-ported einco August 1. Under these- circumstances it will be seen that tho position, in regard to the whole seasons' supply and demand question, has undergone Eomo .ather serious modifications during tla past month or two; so much to, that instead of there being a probable excess in supplies of about two million quarters, as was suggested a month ago, we can now forseo a possible balanew in favour of tlio demand of about five million quarters. It mav be interesting, therefore, to give our fresh estimates in regard to each country's probable imports and exports, as follows (in quarters, COO omitted) iThe Worm's Shipments of Witeat axd Flour for Seasons Exmxo'-Jply Si. •1900-10. 19,18-9, 1907.8. 1903.7. ire a • Qrs ' Qrs ' Q"' Q r »- U.S. America 12,500 14,015 20,580 18,365 Canada .. 8,2d0 7,145 5,950 4,100 Russia .. .. 16,11)0 11,750 7,750 11,830 Danubiim

_ ports 5,000 5,000 S,6ot 9,750 Argentina .. 12,051 14,030 iG.eoo 13750 India .. ~ 4,000 3,330 2250 3 775 Australasia. 5,050 5,000 2,000 3,750 Algeria and , Tunis 800 U 8 50 903 Sundries .. 500 .150 500 COO

Total „ 61,053 61,0» 60,080 67,035 0 Estimated probable shipments. Net Imports of Wheat akd Flour fob Seasons Ehdisg July 31.

1900-10. 1908-9. 1007-8. 1905-7 Qrs. Qrs Qrs. Qrs. Required. Actual. Actual. Actual U. Kingdom 27.300 23,680 25.52S "6 050 France .. 1,003 ico o;o 1675 Germany .. 10,509 7,350 9,150 'JffiO Belgium .. 6,000 6,050 5.2:0 6175 HoLand .. 2,250 2,025 2.153 a'»it> Italy .. .. 5,250 5,950 2,850 s'ijO bpain .... 750 300 335 975 bweden .. 1,030 025 975 875 Denmark .. 850 750 830 SOJ Switzerland 2,330 .2.250 2,100 2305 Sundries .. V,530 3,250 2,525 2 6>5

Total Europe 62,000 52,630 53,2& 58.770 aon-Europcan

countries 7,303 7,503 7,036 7,750

Graiid total 60,300 60,130 00,235 <Kis"o ' ' Including 2,250 ; 000 quarters (or AustriaHungary.

The probabilities are, according to these revised estimates, that the orcscirt season will prove to be Uib third in succession in winch there has been a keen struggle between supply and demand, with lcsuliing hwh prices. Ail this points to rhe coh° elusion that the later portion of ihc present season may easily witncAs much higher pucea than those now current."

Ine Australian market is ut present in a toaiewiiat moribund condition, not bavin." yet properly ctt'a-ted the njcestary and ii° critablc adjustment between the okl season and the iioiv. The .week's cablegram shows the on y alteration in prico to have been at Adelaide, and the explanation of this is that Adelaide is this culy centre which now contains any appreciable quantity of old wheat. The demand.for this is a special OIW for milling purposes, and prices as a consequence have slightly firmed. As rogawk the jicw wheat, prices are entirely tentative, in the meantime. Mail advice is to the effect that sellers remain firm at 5s lid, while buyers show an inclination to reduce their tonvard minimum to 3s 9Jd.

A slack week- has to be recorded in tho local wheat market, and prices have shown little movement, In the north it is reported that a line of mixed milling wheat l«t for Auckland on tho basis of 4s ?.Jd (f.0.b.) this Using somewhat Wow lata market levels, probably because of a desiro on tho part of holders to case. As wo indicated last week, there seems a general feeling abroad that prices will show no accretion of value before the incoming crop, while it is quite possible, on tho other hand, if the tendency .jf those who held speculators' parcels, towards rasing ceilt times, the market will be subject Io a dropping influence.

The association's tariff for flour )*• — Sacks, £10 15s; 100's, £11; 50's, £11 10s: 25's, £11 15s. The shipping price is £10 10s. f.0.b., and the Invercargill price is £11.

Pollard. £4 per ton, both f.o.b. and locally: bran, £3 5s locally, and £3 per ton f.o.b.

Oatmeal stand? at £10 10s per ten, and pearl barley at SU 10s.

So far ns the oat market is ccjieerned tho week, like that in wheat, has seen little change or movement. Prices continue m last week's levels, though it is pcsible. rould a sufficiency of freight 1m made available for London, that brisker business might be done. Hoth grain markets; however, have been influenced in some degree Sjy the desire- of wain and wool merchants to secure their floor snaoo for tho latter commodity, snpv>!ifs of which will now be coming forward b\ hill:. Priors. comically ! st,tml at: A {rrado Gartous. 2s; 11 «vad<\ 1 Is lid;; A Bade Is 11 Jd; B

grade, Is IOjJ. Some little inquiry has been made on behalf of Auckland firms, but this is solely for second class lots.

PRODUCE REPORT.

All lines have been quiet during the week, and practically no change has token place in any commodity. There continues to be a fair demand for chaff and potatoes, but in regard 10 the latter the finning price is bringing its own remedy in the Way of a slackening amongst buyers. Straw is somewhat scarce.

Prices rule as follow:—

Chaff.—Primo oaten sheaf (white oats), from £2 16s to £2 17s 6d; black oats, £2 17s 6d to £3; medium, £2 7s 6d to £2 12s 6d; inferior and discoloured, £<£ per ton and upwards.

Potatoes.—Prime freshly unpitted Up-to-Dates, £3 15s to £4; primo Dcnvenls, £4 to £4 ss; medium white or DerwonU, £3 5s to £3 10s per ton (sacks in). Butter.—Prices are: Dairy pats6'J; milled 7d to 7jd; separator pats, 6d to 7<l; bulk, 9d per lb; Taieri and Peninsula pats. 113 d (Id rebate for cash); Taieri and Peninsula bulk, ii-Jti.

Cheese.—Local lots, 6d to 6Jd per lb.

Straw-Oaten, £1 10s to £1 12s 6d per ton; wheatcn, about £1 12s 6tl per ton (pressed, ex truck).

Clover hay, £2 10s per ton.

Onions.—Melbourne, £11 10s per ton; Californian, 15s to 16s per case.

Eggs.—Fresh, lid per dozen,

Bacon.—Rolls, 8i<l; flitches, 7d; hams, B}d; bacon pigs, 4d; porkers, 4jd. Poultry.—Hens, 4s to 4s 6d per pair; roosters, 3s 6<l to 4s; ducks, 3s Jo 3s 6d; best, 4s sd; turkeys—hens sd, gobblers gd per lb, FRUIT REPORT. Ample supplies of Island fruit came tohand early in the week with the arrival of both the Warrimoo and the Waikare, and the local market, being bare, speedily absorbed a largo portion of the stocks. Supplies of strawberries and cherries from Central Otago an now coming forward more' freely, and as a consequence prices havedropped to a lower level than was obtaining at the end of last week. The arrivals were: Warrimoo, from Sydney, with 2SO cases of Sydney fruits; the Waikare, from Auckland, with tho Fiji shipment of bananas and pines, also tho Hauroto's consignment out of the Mariposa; the Mocraki, from Melbourne and Hobart, with 420 cases of apples, oranges, lemons, and cherries; tho Monwai, from Auckland, with 120 packages of lemons, cucumbers, tomatoes, and apples, also 80 bags of Auck* land-grown potatoes; tho Tarawcra (on Thursday), wiih a small shipment of Rarotongan fruit ex Talune. The prices ruling are as follow:— Oranges.—Sydney: Choice 13s to 15s, others 10s to 12s; South Australian, lis to 13s.

. Mandarins.—Sydney, 6s to Os 6d. Market very barely supplied. Lemon's.—Very scarce. Milduras, 15s to 18s por case. Bananas.—Fiji, Us to 12a 6d nor ease; Rarotongan, 7s to 10s; ripe (repacked), 2id iwr lb. Pines.—Fiji, 9s to lis. Apples.—Hobart Slurmcrs, 12s to 13s 6d; American, • 15s to 163.

Vegetables.—Cabbages, from Is to 2s r«r dozen for choice, others le 6d _to 3s per sack; cauliflowers—extra choice, 6s to 9s per dozen; choice. 4s to 6s per sack; others, 2s to 4s; rhubarb—choice .local, 6s to 8s por'ewt; Canterbury, 63 per cwt; lettuce, from 3d to Is 8d per dozen; cucumbers, 9s to 10a per case, local B3 6d per dozen; asparagus, from 4s to 7s per dozen; tomatoes—Auckland, from B<l to Is 3d jvsr lb, Chrislehurcli Is 2d to Is 4d per lb; greon peas, from 3Jd to per lb; gooseberries, 3d to 4id per lh. New Potatoes—Peninsula grown, 2id to 2Jd per lb. Passion Fruit.—Scarce. Honev.-Choice, 4Jd to 4gd per lb: 10lb tins, 3s" 6d to 4s; choice sections, 6s to 7a per dozen; medium, 3s to 4s 6d per dozen. Peanuts—Java, 2d; Japanese, 2jd to 3d. Preserved Ringer. 7id per lb. WaJnule.-Good demand. Prirao quality, 5Jd to 6d. Barcelona nuts, 51d to 6W.

Brazil mite, 7?d to BJd"per lb, Strawberries—Choice, Is 4d to Is 9d pa- lb; others, V 2 d to Is ner lb. Cherries-Choice local, la to Is 3d per lh; Melbourne, choice, 15s to 20s per crate; others, 4s to 12s, according to condition. O ■■ SALE OF DAMAGED FLAX FIBRE AND TOW. Ex S.S. Wabmiioo. Messrs Park, Reynolds, and Co. submitted to auction at Jetty street wharf yesterday forenoon 334 bales of flax fibre and 17 bales of ton-, more or loss damaged'by fire and smoke and waicrin the s.s. Wurrimoo. Previous to the side, the bales had been carefully graded, the result showing that a very large ■ C|ua;d : ty had suffered no damage whatever except by water, while soma were slightly burned or discoloured, and a smaller proportK-.t was badly burned and discoloured. The best-quality bales, about 89 in number, realised £10 per ton, a fairly good price for -wet material, which in a dry condition is worth £22 10s per ton. Tlii.iy-six bales (about five bales go to tho ton) were sold at 18s 6d per bale, owing to the lots being somewhat discoloured. Two lots of loose Qre realised £30 and £33, and 17 bales of tow were disposed of at 10s par bale. Other' lots realised fairly good prices for tha condition they were in, and the sale,'on the whole, from the vendors' point of view, was a fairly satisfactory one. The attendance at'the Kile was a fairly large ■ one. ' but tho bidding was confined to 11 comparatively small number, the bulk of thoso present-.being lookors-on.

CENTRAL PRODUCE MART (LTD.). Koilly, Scott, and Gill, proprietors, report for week ending Friday, the 13tli:— Business during the past week lias been very brisk in our fruit department. On Monday wo received our Suva and Rarotongan consignments of bananas and pines, 742 cases in all, which arrived in splendid condition, and realised goad prices. Our .Sydney fruit arrived in bad order, and had to be repacked . before we could offer it to our customers. Our llobart. cpnsignmeiit of apples arrived in splendid ordor, and lealiscd record prices. Vegetables have come forward more freely the past week, and met.a good demand. Small fruits are now arriving, and so far very high prices are being realised. Our Auckland consignments of tomatoes are arriving in very line condition, and really payable prices are being realised. Poultry have come forward more fieily, and all birds in suitable condition aft eagerly coni|>etccl -for. Eggs are steady at lttle rates. We give below actual prices realised for our consignors:—

Sydney Fruits—Oranges, 10s to lis 6d; lemons, 9s 6d to lis; mandarines, 12s 6d; passions, 12s 6d. llobart apples, 12s fid to 14s; cucumbers, 13s 6d. Californian apples, 15s to 16s till.

Island Fruits.—Bananas 9s to 12s; pines, 8s to 12s 6d • ■

Strawberries; Is 2d to Is 8d; cherries IOJd to Is 3d;-green peas, 3d to 3id; Auckland lomaloes,'6d to Is Id; green gooseberries, 3d to 32i1; 'potatoes—Peninsula, 2Jd to 2Jd; Sydney; ljd; Otaki, ljd to 2d per lb; lettuce; 9d to Is 6c!; cabbage, Is 6d to 2s; asparagus, 4s Gd; local cucumbers, 7s 6d per do7.en; rhubaicl, 5s co 6d; new season Melbourne, onions. 8s to 9s Gd; old potatoes. 4s to ss; chaff, 2s 9d to 3s 3d; oat straw, 355; wheat straw, 30s per cwt. Pigs: Prime liaeoirers, 3Jd; heavy-weights, 2£d to 3d. Bacon, 6d to Si; hams, 7Jd to 3d; butter, 6d to lid for extra choice; cheese, 6d to'6Jd; honey., slow sale, 3Jd to beeswax, Is 4d; horsehair, Is 3d; .rabbit skins, 9d to Is 6d per lb. Eggs: Ordinary cases, Hid; guaranteed and stamped, in patent crates, lljd to Is, Oats, heavy bright feed, Is 9d to 2s. Fowl wheat: Fair demand. Good, 3s 9d to 4sj smutted, 3s to 3s 7d. Feed barley, 2s 3d; millin" 2s 9d; malting, 3s Gd.

Poultry.—lions. 3s 6d to ss; old cocks, 2s to 3s; cockerels, 4s to 5s 6dj ducklings! 5s to 6s; ducks, 3s to 4s; gesse, 6s per pair; turkeys, none forward.

Corrospondenoe and consignments respectfully solicited.

JIEILIA', SCOTT, AND GILL, Auctioneers.

Dainty Embroidered BLOUSES; good size, long sleeves, high neck— November price 2s 6d. Stylish White Muslin DRESSES; blouses embroidered fronts, long eleevca, high necks; skirts latest style, trimmed broideryNovember special price 8s lid. NOVEMBER BARGAINS AT PENROSE'S. Linen Torchon LACE, 2 and 3 inches wide— November price lid yd. White Kid GLOVES, 3 domes, self and black points; all siaes. Worth 3s lidNovember price 2s 6d. | White Lisle GLOVES, 2 domesNovember price Is. White Allover EMBROIDERY, 23 inches wide—November price Is 9d per yard. White Muslin INSERTION, 13 inches wide, suitable for blouse frontsNovember price Is OJd yd. MEN'S HATS OF ALL KINDS AT LESS THAN HALF-PRICE. Purchased from a Local Hat Manufacturer. We negotiated [or some time with /a Dunedin hat manufacturer for the purchaso of a large portion of his Stock- of Hats. The price agreed upon is exceptionally low, owing to his over-production and tho necessity to restore his slock to the riirht proportion. We aro therefore able to <$]] locally-made Hats—both hard and soft felts —in any quantity retail at considerably under half usual price. HERE'S A FAIR OFFER. Men's FRAME HATS (Dr Jim), in Black. Fawn, Brown, and GreyTo be cleared at Is 9d. ' This is an everyday hat for any man to wear. It is well worth 7s 6d. We strongly advise our Country Customers to write in for this Hat. State tho colour and size required, and if you are hot pleased with your purchase post it back to us and receive your money back.

Men's FRAME HATS (Dr Jim), in Fawn i Brown, Black, and Light Grey— ' To be cleared out at 4s Ud each. These aro the pick of the lot, and the manufacturer's price to the shops for these Hats was 84s tho dozen. Think of that now! A hat for 2e id less than it could he made for. 150 HARD HATS, all pure fur and good' shapes- To be cleared at 2s lid. These are worth 9s 6d, and are • very cheap at the prices quoted. In ordering these by post please state whether wide or medium brim required.