COMMERCIAL

Otago Daily Times, Issue 15101, 25 March 1911, Page 6

COMMERCIAL

Daily Times Office, Friday evening. Australian cable advice recoivwl yesterday intimates that a rise in wheat of Id'has taken place in tho Sydney, Melbourne, and Adelaide, markets as compared with values ruling tho previous week. As will be teen, however, by the attached reports from the Australian newspapers of March 18, the increase was unexpected. _ In sympathy with the increase on tho other side, the local wheat market has assumed a firmer tone, but, so Car as millers are concerned, tho increase has had the. effect of restricting their operations. They hold fairly good stocks of whea.t, and had been buying pretty freely until holders increased their prices. So far as other buyers are concerned, liowwer, thorc is not a great deal doing, with a firmer tone ruling than that of last week.

Writing under date March 15, th o Sydney Mail icport6 as follows:— "The price of wheat, so far as shippers are conocrned, has remained unchanged for the whole week, and on present appearances it will remain at its present level for some daj'S. Certainly, towards the close of last week there was a more hopeful feeling in tho market, duo to tho receipt of advices from London of a stronjo-er tendency, and, as a matter of fact, ona

cargo—from Western. Australia, a late February shipment—was mndo at a slightly hotter rato than tho previous week—viz., 33s 4|d, as against 33s 3d. And tho news of sales received on Saturday confirmed this stronger tendency—MarchApril shipments being up about 3d, offering at 33s 3d to 33s 6d a quarter of 4801b. This week opened, however, with an easier fooling in Mark lone, neither buyers nor sellers pressing business. At 3s 2d per busliel, which is -tho local shippers' price, farmers, except t'hoy are forced, will not part with their grain. They are busy ploughing, and have no time to listen to the porsuasivo speech of shippers' _ agents perambulating tho oountoy. When a shipper is specially anxious to buy ho will offer 3s 2Jd for something a little above tiho f.a.q. si,in.!ard, and ho can generally got what lie desires at this price. Millers' prime wheat is being bought at 3s 3d a bushel, though here again a specially fine sample commands a halfpenny more. Following is a comparison of prices this year and last year in Sydney and London:—

1911 1910. Sydney, per bushel — 3s 2d 3s 11-Jd London, per quarter ... 33 4jd 39s 4jd Thu amount of wheat despatched from country stations since December 1, together with the amount now stacked at tho stations, amounts to 6,805,9b8 bags, equal to 22,686,560 bushels. Both tne stacks at country stations and the number of bags forwarded to tho city for tho week ended March 4 show a decrease on the returns of tho previous weak, so it may bo taken that the bulk of tho wheat is now in storo. . . . As to the future, the whole position seems to depend upon llussia. T.nte country has had two good seasons in succession,; if a third good season sliould follow—and whether this will be so sliould bo known, within the next month,—it is reasonable to suppose that thero will be no great advance in. prices." The Sydney Daily Telegraph of March 18 states" The wheat market is inactive, with few buyers, and India, Argentina, and Russia are pressing sales. Australia is offering sparingly, and holdere are firm. A South Australia sailer, November shipmenty is offered at 345, and FebruaryMarch shipment at 33s Bsd. Victorian sajJcrs, February shipment, aro 33s 6d, and March 33s 9d. A Now //Oahmd steamer, March shipment, is quoted at 32s to 32s 3d, and steamer parcels, March-April, have realised 32s 9d to 33s 3d. Thero is

a small inquiry for Australian wheat on spot at 35s 6d to 365. Flour is dull, and there is no forward business. Australian patents on spot are 24s 6d ; to 25s per sack (3d lower on the week). Oats aro quiet, River Plate, April-May shipment, being 13s 3d, Gartons 19s to 21s 6d, and sparrowhills 18s 6d to 20s 6d."

The Australasian of March 18 reports that tho Melbourne market has been somewhat irregular. The cable news has not encouraged enterprise on the part of shippers, but there is a moderate 'liquiry to oover earlier sales, prime dry wheat being in request. Parcels aro quoted at about 3s 3£d, whilo 3s 4«1 has been paid for prime dry wheat in store. Small farmers' lots arc quoted on the basis of & 2d.

Millets aro offering for lines from the Oamaru and Waimate district on a basis of 2s to 3s o£d for prime mixed limes. In and around the Balcultha district values aro ruling at from 3s to 3s Id, on- trucks. Sellers, however, aro holding out. for j<l higher. They are firm holders, and now that the millers have gone out of tho market there is not a great deal of business transpiring. However, there are a few other buyers on the market, and one or two sales have been recorded at 3s Id for primo velvet-. The tariff of the Flour-millers' Association for flour and other lines is as follows: Flour—Sacks, £8 15s; 1001b bags, £9 ss; 501b bags, £9 10s;'251b bags, £9 15b. Oatmeal £11 10s per ton. Pearl barlcv, £13 lfe per ton. Bran, £4 5s per ton, Pollard, £6 per ton.

Deliveries of oats aro just about equal to the demand. There is a fair quantity of new oak coming to hand, though the supplies are not at all heavy. Tho demand (for ooast-al shipping keeps fairly strong for prompt delivery, and a sale of A Gartons was recorded yesterday morning for the North Island 1 at 2s 4d f.0.b.,5.i. — last week's price. Holders are firm m their ideas of values, but buyers are somewhat chary of giving tho prices asked. A grade Gartons are bringing Is lid to Is on trucks, country sidings, and sparrowbills Is lid There is a fair inquiry for B grade Gartons, with but very littlo of this class on the market, there is no demand for oats from Australia, as reports state there is plenty of fodder there at present Tho ryegrass market keeps quiet, with priccs unchanged. • Small parcels have been placed in tho North Island, but this market is just about finished for tho year. Cocksfoot still rules at its very price of 9£d to 9fd for 16lb-171b Bed, machine dressed. FRUIT MARKET.

A direct shipment of bananas and oranges from Rarotonga is duo here on the 3rd prox., while a Fiji shipment of bananas is oxpcctod on April 5. Tho usual shipment of Italian lemons from Messina, should bo here early in April, and will meet a bare market, and prove a timely arrival. Plums arc very scarce. Tomato are in full supply, principally from Canterbury. Apples are now coming to hand! more, freely; but the market is barely siin-phwl with bananas till tho arrival of the abovo shipments. Prices for prime quality pears havo increased. Passion ■■uit, in quarter cases, is quoted at 6s to 76 per case. Prices are ruling as follow: — Oranges.—Rarotangan, repacked, 10s to Ik

Lemons.—ltalians, 16s to 16s 6d per lialfcaso; whole cafes, 28c; market bare. Apples.—Locally grown and Christohureh are oonnng forward moro freely. Christchurch cookers, 3s 6'rl to 5s 6;1; local 2s (xl to 5s 6d; windfalls, 3s to 5s per cwt; dessert, to per lb. Tomatoes.—Full supply. Christchurch: Outside. Id to 13d; hothouse, 2Jd to 3d-; local, 4|d to 6Jd. Pines.—Roughs, from 6s to 8s 6d ■ Queens, 8s to 10s; in poor condition, 2s to Bananas.-Grcen, 9s to 10s; ripe, 2£d per

Peaches.—Fair supplies of lato sorts coming in from Roxburgh and Alexandra Small jam, Id to ljd; medium, 2id to 3d • extra choice, in orates, 3Jd to 3Jd per lb' oi l" m o'M In T ery 6ho rf supply. Cooking, 2d to 2Jd; dessert. 2|d to 3£d per lbchoice (in cratcs), up to 4|d. ' t ?- 8s 6(1 l* sl- °<isc; medium 4s to ss; cooking, 3s .6d to ss. Vegetal) es.-In short supply, Cabbagos from Is 3d to 3s per sack; loose, Is to 2s 7d per dozen. Lettuce, 8d to Is 4d per caee Cucumbers, 2s 6d to 5s 6d per do7.en. New potatoes—local. 5s 6d to 6s 6d per cwt. Greeu peas, Id to per lb. Grapes.—Choice local, 8d to 9M; Adelaide, 33d up to 6jd. Blackberries.—sd to s£d. Honey-Choice, 3id to 4d per lb; 101b tins, 3s 3d to 3s fid; choico sections, 5s 6d to 6s 6d per dozen; medium. 3s to 4s 6d per dozen; in packets, 3s 6d to 3s 9d per dozen.

Peanuts.—Japanese. 2Jd to 22d. Barcelona nuts, s*d to 6Jld; Brazils, Bid to, 9cL

Passion fruit, in quarter cases,—North Island, os to 7s per ease.

OTHER LINES. Chaff is very firm, and all arrivals are meeting with a good sale at prices slightly above those of last week. Straw and liay arc both firm, and likely to continue so. The latter commodity is still increasing in price. Potatoes have increased in prico about 5s per ton, supplies being hardly equal to tho demand. A largo number of the Oamani potatoes coming to the market aro affcctcd with the worm, and such as those are being sold a.t practically buyers' offer.

Consignments pf eggs are slackening off, and priccs have gone up one penny a dozen as a result.

Local supplies of butter are short. Pigs arc in brisk demand.

Current priccs aro as follow:— Chaff.—Prime heavy oaten sheaf, £4 10s 6d to £4 15s; medium to good, £3 15s to £4 2s 6d.

Straw.—Oaten, 355; wheatcn, 27s 6d per ton.

liay, £4 to £4 10s per ton. Potatoes.—Prime new quality, £3 15s to £4 per ton; medium to Rood, £3 to £3 ss. Onions.—Melbourne, £4 ss; Canterbury, £3 15s per ton.

Eggs.—Fresh. Is 2d and Is 3d per dozen; stamped, Is 4d. Butter.—Dairy, lOd per lb; milled, lOd per lb; separator, in lib pats, lid. Pigs.—Baconers. 4id per lb; porkers, 4J<l. Bacon.—Rolls (in quantities), 7jd to 8d; lioneles* hams, 8d; sides, 6Jd; hams under 20lb. od to 9d per lb

CHRISTCHURCH MARKETS.

(Per United Press Association - .) CHRISTCHURCH, Marcli 24. Tlicr'o is not a largo quantity of wheat offering, as farmers who have not sold are now inclined to hold more (irmly, ami present priocs do not satisfy them. Buyers arc, however, not anxious to purchase, as the best offers they can get from London loavo little or no margin of profit. Tlie Australia.ii market has firJiied a littie, but apparently this & not hi&d upon any

change in the tone of the London mafrkot. Only a few sales are taking place, Ss at country stations finding few aoccptors. The local ofiprings of oats being so fow, and the prices asked being abovo the level of export values for the North Island, attention is being turned' to Southland oats lo fill orders for northern clients.

Oatshcaf chaff is worth £3 10s at country stations, and the feupplies offering aro small.

Partridge |xms still soil at quotations, though for primo samples another penny might be got. B.isiness in ' potatoes is quiet, and growers aro not yet prepared to sell forward o any extent until it is seen how the lato crop will turn out.

TIMARU MART-CRTS.

(Peb United Press Association.) TIMAEtUi- March 24. The weather continued dry and tlic country is much in need of ram. Some sales of wheat have taken place, at an advance of 2d per bushel to merchants requiring to fill orders at 3s to 3s Id at stations. It is understood that tho Rangatira takes 40,000 sacks to London and that other shipments will follow. A gpod deal of wheat was spoiled by threshing too soon. This is being shipped Home for manufacturing purposes and was bought at 2s 9d.

Very little is doing in oats. Quotations arc, for best, 2s Id and' 2s 2d, delivered at Timaru. Potatoes, £2 10s.

MOUNT BENGER HALFBRED FLOCK. Dispersal Sale. Messrs Wright, Stephenson and Co. (Ltd.) report as follows: —On Thursday last we offered by auction at the station yards,

near Roxburgh, on account of tho executors of the late Mr Matthew Elliott, their i well-known flock of halfbred hill ewes, also 1 half and thrce-quarterbrcd lambs, horses, implements, ete. Owing to the resumption of the runs for subdivision the stock and plant were per forcc offered for 1 unreserved sale. Tho sheep, being widely known as well-bred, hardy, and thrifty doers, a large attendance of buyers was attracted to tho dispersal sale. Prospective purchasers were present from Canterbury, North Otago, Balelutha, M;nuototo, Gore, Moa Flat, and Kelso districts, but although their competition made a material difference to prices, tho local buyers were not to be denied, most of the sheep being seenred by tho neighbouring settlers. As a matter of fact, tho only lines leaving tho district were the ewe lambs, the Leicester cross-lambs,_ and 500 of tho five-year-old ewes. In spito of the | dry weather the sheep wore in excellent condition, and wore carefully drafted and well displayed. The sale was a most satisfactory one, 9534 sheep being sold as follows:—588 two-tooth halfbred owes, 14s; 900 two-tooth thrcc-quarterbred owes, 14s 4d; 1320 four-tooth halfbred owes, 15s 6d; 1260 six-tootli halfbred ewes, 17s to 15s lOd; 950 eight-tooth halfbred owes, lis sd; 845 five-year-old halfbred ewes, 10s Id to 9s. 6d; j 1094 Romnoy-cross owe lambs, 129 4d to 12s Id; 955 Romney wether lambs, 7s 7d to 7s 2d; 725 Leicester-cross lambs, 8s Id; 240 mixed two-tooths, 10s Id to 9s; 450 forward wethers, 15s 6d to 12s 3d; 150 mixed owes (late shorn), 6s 4d; 56 Romney and halfbred rams, £2 13s; 20 hacks and harness horses, to £24 10s; implements at full market rates.