COMMERCIAL.

Otago Daily Times, Issue 15196, 15 July 1911, Page 8

COMMERCIAL.

Daily Times Oflicc, Friday evening. Judging from the last reported sale at London of an Australian cargo at 33s 6d, it woidd appear that the temporary firmness there has agaiii slackened. The previous cargo of Australian wheat was cabled as bringing 34s Tho effects, therefore, of tho heat wavo which was reported this week as playing havoc with the American crops could not have been so serious as was iuiticipated, as it will bo seen tihat the English market has not been affected in any way. It will also havo been noted that tho condition of the British wheat crop is improving, and this will no doubt tend to keep prices at about their present level. Tho latest quantities aHoat for the United Kingdom and Europe have fallen away considerably, the total being 5,245,000 quarters, as compared with 5,850,000 quarters a fortnight ago. The Australian market reports are rather conflicting, Sydney prices having a slightly easier' tendency. Tho following is a comparison of values:—Sydney: July 13, 3s 4d to 3s sd, July 6, 3s 3d to 3s 4d. Melbourne: July 13, 3s 4jd; July 6, 3s sd. I'ho latter market, however, is reported as having only limited supplies. The total shipments from all parts of tho world to Euroixs sine© August 1, 1910, to July 8, 1911, amount to 70.255,0c0 quarters, against 59,695,000 quarters for tho corresponding: period of tho 1909-10 season, and 52,035,000 quarters for the corresponding period in 1908-09. The American visible supply east of tihe Rocky Mountains was estimated at tho beginning of July at 38,305,000 bushels, or a decrease of 2,017,000 bushels since the previous week. At, tho corresponding date last year it was 26,623,000 bushels. "Beerbohm" reports as follows under date June 2:—" Stocks in tho principal ports of tho United Kingdom aro small, and have decreased about 150,000 quarters on the month; they amount to about 1,450,000 quarters, against 2,085,000 quarters last year, and 1,275,000 quarters in 1909. "With India now exporting moro freely tho United Kingdom's proportion of tho weekly shipments will be larger than for some timo past, and, if the weather keep favcurablo for the new crura, tho .Continental demand will probably decrease steadily. ■ With tho exception of India, the exports from all countries must, be expected to decrease. Russia, Roumania, the Argentine, and Australia havo all exported freely, and, although between them these countries still hold large quantities of wheat, they aro not very likely at this time of vea.r to ship much wheat unsold. Tho world's import requirements are now estimated at about 80,000,000 quarters for the 12 months ending July 31 next. The total exports from August 1 have amounted to 70,300,000 quarters, against estimated requirements for the sa.mo period of 66,25G,0C0 quarters, or an excess in export* of about 4,000,000 quarters; of this quantity, the increased amount afloat (7,000,000 quarters, against l 3,600,000 quarters on August 1 last) accounts for tho greater portion. It will therefore bo seen that almost tho whole of tho wheat shipped in excess of requirements since tho beginning of the season is still 011 the way. Stocks in the United Kingdom aro 800,000 quarters smaller than on August 1 (tho conimcncemer.J; of the season), whilst stocks in France aro about 700,000 quarters larger. The final official report_ for the whole of India has now been reoeived, aijd tho yield isestimatcd at 6,500,000 quarters, as against 44,600,000 quarters for the previous year. Making due allowance for increased consumption, owintr to the larger population, there would still be a considerable rcservo kft over from the 1910 crop, so that India is in a position to export 9,000,000 or 10,000,000 quartern if the price is considered attractive enough, and if the wheat is wanted. European crop reports are now favourable as a whole, and the latest reports from Russia aro almost unanimous that a great improvement has taken place during the past fortnight, especially in spring wheat, which produccfi nearly twot.'ivds of the tolal Russian crop. On tho oth':r_ hand, the winter wheat outlook in . America is not so promising, Expert Snow's latfst report showing a decline of 5.1 in the condition compared with a month ago. Spring wheat, prospects, both in tho United States and Canada, are described as very favourable." Says tho Sydney Mail of Julv s:— "Wheat is firmer on the week, and'with a better inquiry prices are a couple of points in advance of those of the previous week. Tho change, however, did not take place till Monday. All last week shippers were offering no more than 3s to 3s 3d, ex trucks, Sydney. At the former prico they obtained very little, but. when the full 'prico of 3s 3d was offered the wheat came forward more freely, up to about 30,000 bushels a day. Towards the end of tho month somo wheat was wanted for prompt delivery, not by shippers, but on local account, and the buyer had to pay 3s 5d ; for it. This, however, was a prime lot of milling wheat. With the opening of ' tho second half of tho year there seemed 1 to bo a better feeling abroad as to the 1 prospects of tho market, and with more ' inquiry shippers_ found they could not obtain their requirements unless they advanced tho price, and this was accordingly done, their quotation varying from 3s 3d to 3s 3jd, ex trucks. Millers offered up to 3s 4-, d, and parcels suitable for shipment . weje put 011 the market at 3s sd, without . finding buyers." Tho Australasian reports as follow l , under date July 8:-" The Melbourne market- has shown a littlo more firmness, . with a better inquiry, while only moderate , supplies are offering. Millers aro buying in moderate quantities, while there ha< 1, been a certain amount of inquiry for wheal on spot for prompt shipment. * Quotation; . for parcels aro 3s 4£d lo 3s sd. Shippers' . quotations for farmers' lots in tlio country aro on tho basis of 3s 3d to 3s 3pd." In tho early part of tho week the loca! | wheat market showed firmness, but the re ports of the position in Sydney, and alsc J in Mark Line, havo tended to make it 1 bit easier. However, our market may slil ' mo termed firm, but quiet. Holders o! : Tuscan and velvet ear havo been askinf c 3s 6d, ex 6torc, Dunedin, and sales hav« . taken placo at these prices. Millers, how ever, aro still working on their stocks,

'i and are disinclined to pay these values. 1 s Velvet is receiving the most attention, but s • thero is not a great deal of this class iraf t I wheat available. Purchasers of velvet liavo ( ibcen made during tho week by millers at 1 II 3s 7d to 3s 7£d, delivered in Dunedin. In ] 0 North Otago the markets rulo firm, far- t iners asking 3s 6d, on trucks, for mixed i •" lines. In Timaru thero has been moro 1 11 activity, and, as recorded last week, somo c 10,000 sacks were recently secured by buyers ( there. Very few samples of wheat from ; the southern markets have been coming 1 forward. Tho ideas of farmers as to values being very similar to those in the north, and as millers aro inclined to hang off tho lt market at current values, business is ron stricted. It is reported that a lino of 700 sacks of prime velvet was sold this week '•? at 3s fid, on trucks, Gore. ' _ Tho tariff of the Flourmillers' A/socia- '' tion for flour and other lines is as follows: Flour—Sacks, £9 ss; 1001b bags, £9 15s; ? 501b bags, £10; 251b bags, £10 ss. Oat- ; meal, £13 10s per ton. Pearl barley, £14 per ton. Bran, £4 15s per ton. Pollard, rs £6 per ton. ]\ Tho Gazette returns, as presented yester,jj day, of the yeld of oats for New Zealand )r for tho year 1910-11 reveal tho fact that the , s quantity threshed this year is tho lowcist since t.he year 1897, when the amount was „ returned a3 9,738,391 bushels. The following table of the figures for tho pa.st few years should prove interesting at the pre;r Bent juncture:— [ 0 Bushels. w 1910-11 ... 10,093,564 ,|. 1909-10 13.526,830 i. 1903-9 18;90&,788 1907-8 13,531,910 h 1906-7 ... 11,201,789 i e 1905-6 12,707,982 1904-5 14,553,611 sd It is also interesting to note that tho s, highest prices paid during tho past few s. years were in November, 1907, when oats id roaohed 3s lid to 4s for B Gartons, f.0.b., id s.i., Bluff or Dunedin. ro Tho oat market locally is very dull; farmers are not offering to any extent, and p- merchants are not buying. Tho position is I, nominally easier than last week, and prices ' n rulo as fallows: —A Gartons, 2s 6Jd to 2s |° 6Jd-; B Gartons, 2s 6d to 2s 6Jd; A sparJ - rows, 2s 6d to 2s 6id. Thero is, however, le very few A sparrows offering. A few lines }' are going forward to the North Island, ls where menclianits aro not buying except for immediate requirements. The demand which '® has been experienced during tho past few '' weeks for Oamaru and South Canterbury ' has eased off very considerably. A lino of 200 or 300 sacks of prime A Ga.rtons was ; J 1 sold in Dunedin yesterday at 2s sjd, ex ; ' store, sacks extra. This price is equal to ' j 2s 7d f.0.b., s.i. , 0 PRODUCE REPORT. I e Tho arrivals of chaff during the woek e havo been heavy. There has been little in- i quiry for shipment, and practicaljy no business has resulted. Tho demand is confined < entirely to prime samples, medium lots being l neglected. Exports from Melbourne for i the week ending July 8 included 1265 bales I of compressed ohaff for Now Zealand. There is a. good demand for straw for < ■- winter fodder, with a fair quantity coming J s forward. ■ The prico for hay has restricted the I consumption somewhat. Hay is now quoted < a.t, 25s a toA. higher than usual at this timo } of year. Hay rules at about £2 15s to £3 1 5s a ton in tho winter time, but the dry < weather oxporienoed last summer consider- ' ably curtained supplies, and this is ac- ' , ooumtable for tho current high values. 1 Tho potato market has suffered a fur- ' ' thcr relapse, and prices aro back 5s since • !" last week. There is an absence of shipping 1 j orders, Canterbury merchants being able j to under-quote local merchants. It is ' j reported that there arc heavy stocks of - potatoes in Iho country, but farmers aro ! " holding off for higher values. It is hard 1 s to see, however, that prices can improve. I B Tho Ga®tlc returns plaoo the total potato ( " crop for 1910-11 at 138,025 tons. I t Onions aro in brisk deroand, and last s week's values arc well maintained. • 3 Eggs Hiavo advanced' 2d per dozen, and [ ■ tho supply is not nearly equal to tho do- ' J mand. I v Supplies of dairy butter aro light, and i - any consigmncnts aro readily placed on s arrival. Current prioes aro as follow: — r Chaff.—Prime heavy oaten sheaf, £4 2s 6d to £4 ss; medium to good, £3 12s 6d to £3 176 6d; inferior,' £2 15s and upwards. | Stra.w.—Oaten, £2 2s 6d to £2 7s 6d; < wheaten, £1 7s 6d to £1 10b per ton < Hay, £4 5s por ton. < Potatoes.—Prime quality, £3 7s 6d to £3 t 0 10s per ton; medium to good, £3 to £3 ■ 3 ss; inferior potatoes, £2 5s upwards. ; Onions.—Canterbury, up to £5; Mel- ! i' bourno, £5 103 to £5 15s per ton for i prime. | rr Eggs.—Fresh, ls 6d per dozen; stamped, q Is 7d; preserved, ls. . s Butter.—Dairy, lOd per lb; milled, in.'--' : t to lid per lb; separator, in lib pate, llld ! 0 Pigs— Baconcrs, 4id per lb; porkers, 4d i Q to 4Jd. _ , 0 Bacon.—Rolls (in quantities), bono- : less rams, 8d; sides, 6d; hams under 201b, 1 8d to 9d |>er lb. 1 FRUIT REPORT. 1 Tho market is now almost bare of Raro--1 tongan oranges, and by tho timo tho noxt 0 jioat arrives—in a fortnight's time—thero t is sure to be a good demand. 1 Tho Suva boat is only bringing a half , 1 shipment of bananas, totalling 1600 cases. A shipment of apples is looked forward 1 0 to. by next week's steamer from Hobart, , b when tho import duty will be reduced to 1 id per lb. It is not contemplated, how- : 0 ever, that prioes will bo lower hero than , ' prevails at present, as the values for apples • are increasing _in Hobart. Canterbury - apples are in fair supply, and aro realising ] - from 8s 6d to 10s per ca-se of 401b and 7s : 1 6d to 8s for - 361b cases. , t Tho following are tho current prioes:— | ' Oranges.—Rarotcngan repacks, 7s to 8s ] t per ca«e. t Passion fruit, in quarter cases.—Now : • South Wales, 4s 6d to 7s por half-gin. 1 Lemons.—Mildura, 9s 6d to 10s; Adelaide, 1 " 10s. , r Apples aro in very short supply, especially 1 r choico varieties. Ixically grown and Christ- " cliurch cooking, choice, 8s to 9s por case; • small and inferior fruit, 4s 6d to 5s 6cl; dessert, 8s 6d to 9s 6d; Tasmanian Sc;ir- ; 0 lots, New Yorks, 9s 6d to lis; French) crabs, 8s 6d to 9s 6d. Pears.—Hobart Vicars, 10s to lis. Pires.—Roughs, from 8s to 9s; Queens, 10s to 12s. Mandarins. —Gins, 8s to 8s 6d. 0 Ripe, 2d to 2y. 5 i'omatocs.—Christchurch hothouse, 8d to Bjd per lb; local, sjd to 6id, poor quality. ( , Vegotables.—ln short supply. Cabbages, 1 j from 2s to 6s 6d per sack;' loose, ls 6d to 7s 6d dozen. Lettuce, ls to 2s per ' case. Cauliflower, medium and small, ls 1 6d to 4s per bag; choice, 6s to 9(1; extra , ' clioicc, 10s to 13s per dozen. Celery, 2d to (Xl per bunch of six bundles; choice, to 10s. 'Carrots, 3s to 3s 9d per sack. Par- , snifis, 3s to 4s. Turnips, 2s 3d to 2s 6d Artichokes, Id to l-Jd per lb. Marrows, 6s ' to 7s i»r sack. Beetroot, 6d to 8d i»r dozen. ' Honey.—ln good demand. Choico bulk, 4d to 4jd per lb; 101b tins, 3s 3d to 3s 6d (wanted); choico sections, 5s 6d to 6s 6(1 per dozen; medium, 3s 10 4s 6d per dozen; G in half-pound packets, 3s 3d per dozen; lib piiokcts, ss; 21b tins, 10s to lis per dozen. Peanuts.—Japanese, to 2|d. Walnuts, 7jd to Bjd per lb. Barcelona nuts, to 6id; Brazils, Bid j to 9d. y o THE BUTTER MARKET. •J INCREASE OF 2n PER LB. ' 0 To-day tho Taicri and Peninsula Dairy Company increases tho price of its butter (wholesale) by 2d per lb, the quotation now ruling at per lb for fresh-made prints (subject, to discount for cash), and 16jd per 1 lb for bulk. In a circular to its customers 5 the company reports as follows;—"Wo cx- " cec<lingly regret our inability to keep our 0 regular customer supplied with fresh-made 'r butter. As anticipated, the result of tho 1 summer drought is now very keenly felt ( ' by all engaged in the dairying industry • throughout tihe Dominion, and supplies are 'j. not obtainable anywhere. At tho present time wo cannot guarantee clients more than 0 a quarter of their usual butter requirements, v and until further notico wo aro compelled >" to advance our priccs as follows:—Fresh--1" made prints, por lb. Bulk butter: We y cannot guarantee supplies, but will do our d bc : t from day to day at 16Jd per lb. Wo o havo a limited supply of secondary butters it packed under the ' Shamrock' brand—bulk, it 14id; prints, (net cash). Wc do not think that, tho shortage will last moro than 's a fow weeks, and wo will immediately 10 bring down priccs when supplies incrcaso 3, and the present frantic rush for fresh butter 0 is over." g It is stated that the rest of the Dunedin is mcrclmrts aro increasing their values to it correspond with the increase made by tho is Taieri and Peninsula Company. s' This increased prico is tho highest, that v has obtained in Dunedin for the post 12 yoa.rs. 11 * THE BUTTER MARKET. » AUCKLAND PRICES. (Pee United Prfss Association.) AUCKLAND, July 14. v- | Tho scarcity of butter, wliidi has resulted Si in a consi.dorE.blo a/lvauce in orieo on the

local market roccntly, is becoming more stringent. Tho supply not being equal tc the demand, butter merchants to-day npt.i(icd a further advance of one penny pet lb for butter in pound pats, making tlic present price Is 3jd per lb wholesale Abnormal rata are now being paid to farmers for such small supplies ol butter-fat as arc obtainable, and tho heavy cost of production leaves little margin, ever on tho present, prices. The drought of tilt autumn is approximated to have earned, f loss of £350,000. JULY WOOL SALES. PROSPECTS IMPROVING, Pratt Association—By Telesrnpb—Copyright LONDON, July 13. Thero is strong competition in cross breds, with priccs unchanged. There i a capital selection of merinos, which shov a 'hardening tendcnc}. July 14. (Received July 14, at 9.30 p.m.) The following aro the priccs realised fo the fleece portions of tho clips named: — Wniouri, too 15d, average 13gd; Gear, to] 12jd, average 9|d; Panikau, top 10d, avei ago B'd. CO-OPERATIVE ASSURANCE COMPANY. Press Association—By Telegraph—Copyrighl SYDNEY, July 14. Tho promoters of tho Co-oporativ Assuranco Company stato that tho Ne\ South Wales issue is largely over-applici for. CHRISTCHURCII MARKETS. (Pee United Press Association.) CHRISTCHURCII, July 14. There has been a slight revival in th wheat export trade, consequent upon th improved tone of the London market. Th Drayton Grange lias sailed with 12,000 sack from southern ports and Lyttclton, an tho Marcre, now- loading, is expected t tako away another 15,000 sacks. There i very little wheat changing hands, as th slight) advance in price has been met b growers increasing their reserves. Tusca whoat has been sold up to 3s 4d, and vclvc up to 3s Sjil for primo lines at countr; stations. Tho census returns showing tho area ii crop this last season, and the amondei estimate of tho yield, indicate that ther is ample wheat for all requirements tlii year, as only some three-quarters of a mil lion bushels have boon exported. Tho considerable decrease «howrr in th area sown in oats this Jast season has ha< tho effect of causing a little more inquiry but offerings locally aro scarce, and salo aro few. Chaff is easier, only £3 15s to £4 a country stations 'being offered, but there ari no sellers at these prices, as chaff is wort! more in country districts for local oonsump tion than for export. The potato market is dull in consequent of heavy supplies going forward to Auck land during the last week. Some 11,000 o 12,000 sacks havo been shipped north fron tho Bluff, Timara, and Lyttclton. Thi crop in the Oamaru district is turning- ou very much bettor than was expected. .Then is little demand for potatoes in consequenci of the quantity going north, aird the bes offers aro £2 10s to £2 15s at countr; stations. As showing how potato-growing has de creased in different provinces in tin Dominion during tho last 10 years a com liarison of the 1911 census returns, wit.l the figures for tho season 1899-10 (thojatte given in parentheses) is interesting Auckland, 4199 acres (7107 acres); Taranaki 503 (1963): Hawke's Iky, 1247 (2161); Wcl lington, 2272 (4156); Marlborough, 501 (753); Nelson, 867 (1198); Westland, 4: (508); Canterbury, 9107 (12,434); Otogo, 511 (5211); Southland, 3030 (1592). All tho provinces havo decreased exeep Southland, where the area is nearly doubled The _ decrease in potato-growing in tin Dominion is, of course, duo to tho loss o tho Australian market through tho bligh a few years ago. NAPIER FARMERS' ASSOCIATION. (Feu United Fbess Association.) NAPIER, July 14. Tho annual meeting of _ shareholders o tho . Farmers' Co-operative Associatioi adopted a report recommending a dividcni of 8 per cent., a bonus of 25 per cent on commissions, a bonus of 5 per ecnt. oi salaries earned, and £1000 is carried for ward. _ ' In moving the adoption of tho repor Sir R. D. D. M'Lean (chairman of direc tors) said tho prospects of tho wool mar icct were very bright A Bradford mai had informed him that tho market "\vouh bo good for the next few ycare. llg alsi referred to tho prospects of introducin* incw Zealand l frozen meat into Contincnta markets. Tho meeting resolved to increas tho share oapital to £200,000 by the crca tion of an additional 20,000 sliares of £ each. A SPLENDID FIRE "SAVE." Sydney papers of 4th July report a follows:--What threatened to bo a disastrous fir occurred this morning at 11.45 at Dram rnoyno. It was cattsod by the overheating of a steel roller in tho spreading roon at Bsrdriaiu's factory, and in view of lb highly inflammablo liaturo of tho rabbe might easily havo developed into a scriou conflagration. Fortunately tho works wero installei throughout with a system of automaii firo alarms—the Mav-Oatway—and in i few seconds tho alarm gong was ringinj outside the building, warning tho scores o girl employees and calling the malo em ployoes to the spreading room, whero & tiro was soon extiufniishcd by means c a chemical extinguisher. An alarm message was at tho same tim automatically telegraphed to tho local fir ftation, and in a few minutes that brigade as well as the Rosellc and Balmain Brigades was on the spot. Insurances totalled £33,925, not nearl; representing the full raluo of tho stoc! and plant.—Advt,