COMMERCIAL.

Otago Daily Times, Issue 15350, 13 January 1912, Page 8

COMMERCIAL.

Daily Tinws Ollico, I'Yiduy evening. Advicvs lroni I/uidou iulimato that tho wlio.it. market there is linn, with an upward tendency. Tliat 1 ionto sjvcilhttom have I. mil in thi- strength ol the market is indicated li\ tile largo miiiilht ot Australian lurch's mured duiint; the wcok, I'iie la«t. leoordwl mo |>ciit|; 15,000 (purlers, per sailer, January and February smpinonl. at Ju> Tjil. This totittigiitiKint cannot arrive in l.uii'ltrii ti||- about ltuxt May. Tito fui'i'Koilii; liu'lti nolwilUlandini,', tlio Home market is at piitA'tiL Mibjccl U> a yren;. <!eal of tliirluatioii, as is shown by (ho operations in (lie Sydney market, which | ts in very close touch with .Mark Im;u. j Dii January 8 r ali& were rcconhd in Syd- i licy at is Ujtl lo is Jd, bat this inorniiis's canlogram shown that valtteii there uto now back to .'ti TAtl to 5s Ed, while .Melbmirno quotations mn from is lo .!s Bd. Id'MDtiii which may lie advanced for llio up and down tendency of the market are tho very |!wt dooivasc in the exports from litusia. the strikes in I ho Argentine, and their ctbvt on the work of netting away e.\|xirl«, and the pvneral unrest which at present prevails in I£uro|n\m political circles. 0:i the other .side, however, the American visible suppl- of wheat easily constitutes a I riwnl (llu.ii!, r li lliviv is a suction l.hal | there is a lot if the wheat ol very poor quality), and l.!ie very heavy pros|ieeti\o iiojs from the Arjjnitine have abo t.i 1>! ! oowdderod in trying lo suui up the posi- , ikji. Ija«d. week the exports from the ] Argentine atiuiunted to f.u le ; « liisin 1.030.000 quarters, but this weck-a* a re-' Mill of the .-trikls ptosuuiably—the e.X|K-rls fiutn tJit* Smith American province are ml.' In the alienee of any riports as lo bad uvcther. this is probably the naron lor ; the ivtnpVl" stopping of wlio.it carjjeesfroin j the A'rijetitit.o. i Tim toial quantity of wheat mid flour afloat j for tin l Uniled Kingdom and the (,'imtir.eiit i.s given as 3.710.0C0 quartets, a.s against 5.HJ3.C00 quartets for the previous week. ' Itussi.i (100.000 quarters) has (ln-oatvd her' c.xrorts bv 10.000 qearleis: the Danubi.in j proximo; -cut fovward 1E3.0;0 ipmlers; ■■ India (53.000 quarters) has drop|*v| nv.av In the extent of im lets than 166,000 quarters; while An-lralaM.a (55.003 ( |Uarlers) lit.,, wit j forward 5000 quartets more this week. ! Ti;e total shipments to Iviroro. from all j parts if the world since the loj:inning , of Anew'. i<> l'rei'iiilvr 50 amount lo ' 24.ft70.000 <piartors, against 5*.395.000 quarters for the corrospoiidini; ported of the liUOll season. a:i<l 29.60.1.000 quartet* for (lie corrtx-p.w!inir jvriod in 1909-10. Ship- ■ incuts from lemsia sine-.' I he beginning .il ] Aiitrtist anioiiul lo 5.250.000 quarter, against ' 14,675.000 quartets for, the corresponding I period last ftsvoit—a decroa.-e of 9,445,0C0 j (piarbw. j The American visible supply east of lie; Ktvkv Moi:ntaii:s wan t'MimaUd on )\-j ivinlvr 50 at 115.219.00J bushels, or a de- i cn-jBO of 975.000 bnslh-ls since the previous! w«vk. At ti:o eorn>"iMii>lina- date a x<';t i tico il was 7i)..519.000 'hm'iel.v ! " " r.ivrlxihm " r\'|>irl«! as follows, under ; •late IVxvintvr 1: -The demand fer ■ cMitituiiv slow, and in parcel, only a luetic- i rate trade has been put ihrouirli d'iriiii: ; tlw week. The tone'it tirt-l. with ur.faveiir- : alile m»M-!s iri-tti lite Arsentine, was iuliy steady, and a aibanv was maih' for uivv-l'den'riptions. Ui: yuK-etpi-nlly tjie ffel- ; iuu UvatiM iptietcr. liwtu; dtilj yt>l'Ti...y. j with prices leiulinu in buyers' favour. All , ■earkets oortiiuie :<> b' isKiinly intbieini'd bv tttwlJuM' ami fivp n-jvitu fivii; 'lio Arirenlii'O. N.> ih-linite e.-timate can yet l-eNnade of the vi. 1.1 in that is.inilry. as iintcll still »li'|i'liiis on tlie vuvitlitr ef tl'.o next few weeks esp,viaily :». far as the (,iulilv Ls nMhvimti. It is to be tie- ■ sired 'thai the harvist will I».> favoured by i the wtwllier. :.s there is plenty -of inferior j wVtit to Iv oUiiincil iix>in Nt>nh America: if the Arpetilint* wheat prove t.> N- «.f ovslipiality there will i*. doiih If .1 very j i:ifji> dttiuaml for it.. The latest oflieLi! | (Mitiiato nf tin- crop ifi'r the 75 [ KiiroiKsin ttoveriii'K'iiisl shows a ddicifiioy. j i'oiuiiatx'il wish the ivttirl ivwied ai litis : time last v^;.: - . of SHOO.OO'tir*; this is ! several million iitUTtors smaller lh;>n the I e.tilicr estitnaie. but ajiri'iv very chs-|v : with thi l wtii'N'.l opinion, hel.l for alout , t::n\' montlis nasi, that ihe yield -.vottld Iv I fallv loss than in 1010. The j home confutation is atxmt ('O.OOO.OOOrs, but may po*ib!y bo avnowhu less tliis'

year, as in tiiwo province* whore the crop ha.» been a failure tlio pcaxiiitry will no doubt ho fed, to a certain extent, mi cheaper IVhhl t.lian wheat. Under niiy <ireninMnnd! this year's (.Top leaves only a very small surplus for cxjiort, and the extent of (hi! shipments from lliissia will inntiily do|icudon thoipumtity of old wheat drought forward at llu; (omniciicomont of llie prefent season. As lias been 'down previously in this list, if the olfieial c>timatc s of llu> IDO9 anil 11)10 crops were approximately comet, lhiwia had alxiul Io.OOO.OMrs more wheat at the etui of Julv. Hill, limn .11 Mu! end of .Inly, 1901). so that «'\«.Tvlhiitn (lepenils on the n(ciirat\- of ihi* official estimates. This oonlirmati'on of a Very .small yield fully explains the very n.'tlitnil reluctance of hohf'i's of wheat to aocpl. what they. frcm their jyiint of view, con.-ider lew prict*. Thi: season, Inwcvor, owing to the much kirnc produclion of wheat in importing countries, we are not nearly no ibiicuik'ut <m a* last .-pnsoii, ami if the Argentine crop prow to bo a really large one the level of vaul'S will lie mainly governed hv (|i,> prievs ruling for I'late wheat. Meanwhile, tbeks at the ports are luigc, anil pruhablvamouut lo3,(joo,oooi|ri There \vj> a further inoiw.i it. the Ameiieati visible supply la.-t wick, lint a devil of this wheal'is no doubt nl inferior grade, anil, fieonniini.' lo the North-Western Miller, a if.«ni deal of the sprilij; wheat, is so ikkhl in ipialily that it. tiibv, 39lii more wheal lluiu in yi-ars of a vertigo quality to make a Isirrcl of flour. This, of tours,', is a serious matter, as it reduces (lie millablo yield of wlic.'it to it material extent. In .some decree, lentever, this deficiency is balanced by the good oiialilj and heavy weight of the wheat produced in most European connIrits (his year In the United Kingdom [armors' supplies are expected to shortly increase, The avciau'e price to d'tte is i2s VJil, against, 30s 6d ia 1910." The Australasian of January 0 reports that, the Melbourne niaikot has iieen steady, with a fair demand for early delivery, partly from millers. Owing to the comparatively early harvest, supplies of new wheat have been mining in to the country Muti-iliH at a faster pine than a year ago, though the crop is smaller. Parcels are rpiote'd (it 3s 7jd, while quotations for small farmers' lots in the. country art! on thu basis of aliotit 3s 7d. Locally, wheat values have hardened in sympathy with the advance at. Homo and in Australia, Another factor which has helped lo strengthen the market is the fact that the stocks hold by some millers are gutting low, and with a Into harvest inw assured they lincl it necessary to at onto c.nmojnlo the market, to replenish Iheir supplies instead of holding oil' for the new wheat. The very wet season experienced may nlsn have the elFoct. of producing a soft cereal, this necessitating the crops being left in tho slooks longer than usual to I'lintiln them 1,-, malum Having duo consideration for these possibilities some of our Oitnciliu millers nporutod to the extent nf several thousand sacks at the cntnmotiecinoni of the week, at prices' ranging from 3s fid to 3s 6Jd for mixed lilies of red chair, tuscan. and velvet, at country sidings in the vicinity of Studholme. In response to the keen demand, holdCIS lowurils ilm (Mitl of tlm week put up Iheir prices lil to IM per bushel, and this at. once had the effect of restricting business in the meantime. Fowl wheat, is worth about 3s lOd f.0.b., s.i. Th« tariff of the Klourmillors' Association for flour and other lines is as follows: Flour-Sacks, JCf, 15s: 1001b bags, £9; 50lli bags. £9Ss: 251b bags. £9 10s. Hran, £•! 15s por lon. pollard, £5 Oatmeal is tpiotcd at- £13 10s pev (on, and pearl barley at £14 per lon. Prices for oats are somewhat, irregular at. present, in view of Ihe early advent of the new season's crop in Canterbury. The oats in the northern province should be roady for reaping by next month, and this fact, has induced North Island merchants lo run on extremely short slocks in (be meantime. As a result values have eased considerably, and a few sales took place during Ihe week at from 2s ICUd to 3; f.0.1)., s.i., prompt delivery. Slocks held by South Island merchants are in small compass, and the offerings are not linivy. A few transactions in Ihe new crop have lo bo recorded, Canterbury merchanls now offering to sell at 2s 4d f.0.b., s.i., MatchApril deliverv. I'IiODUCK REPORT. Supplies of clinfr an- equal to the demand, and values aro inclined |.i ease. Straw is in sltort supply, ami consignment« are wanted. Mollxiiirno onions: sti'.l rule very firm, and prices havo increased £1 a lot on thofc ruling last week. Tlioro is a brisk inquiry for pigs, awl consignments aro much short- of tho demand. As n result of heavy consignments, eggs have cased in prior; to tho extent of 1'! per dozen. A brisk demand continues for all consignments of dairy htiltor at Into rates. Current price aro aa follow: — ChatT.—Prime hoary natoti shoaf, £4 2s6d to £4 ss: oliuio! black oat. £\ 7s 6d lo £1 10s; medium to good, £310,s lo £3 15s; inferior, £3 mid upwards. Straw-Oaten. £2 -Sh lo £2 7s 6d; wheaU-n, £2 to £2 2s Gd. Hay, £4 per ton. Polalom.—Prime quality £1 por lon. Onions.—MoHx>t:rno, £14 per ton. Kggs.— lbl por <10/.en-, stamp-nl Is, Uulter.—Hairv, o{d to 9il jx>r lb; milled, n d per lb: separator, ill lib pats, to llil I'igs —lhicouors, 53d |x?r lb; |wrkcrs, sitl to bjd. Tlatxui.—Holls (in quantities), 9Jd; tioneItts hams, 1(VI; sides, 6d to 61d; hams uidcr aolt), 3{d per lb. FHUIT HEPORT. A shipment of 450 oases of American apples arrived in Dtiiinlin last .^ititrday, awl realised Its per 4211) rate. This is practically the last consignments; this season of I'illiw'American ot'iingivi or apples. L'lirislvliiiroli loui.'Hixk am itominj,' in in only small (puuitily. J/ocally jrniwn an still in short, t-tipp'.y, t.lio seamx being very liilo (his year. Thu last of the tcosm's strawlicrricts are now (timing to hand. (Auuigtimonls. have been jicor as compared with prcvimi) wars, this being t-ius-.-d by iJiu very wer, weather ex|ierie!icod. and the consequent lack of stinshiw! preventing Ihe fruit from ti|x'iiing. Fair parcels of cherries are now arriving from Alexandra, Roxburgh, and Ashluutou. A s|>ooirtlly fine consignmeiil, from the Alexandra district, brought up lo Is 7id per lb under the hammer. A few lots of ixMchcs from llie Alexandra ami Roxburgh districts have ii.en of durinjr the week, the former consignment realising up lo 3id |Km- Hi, and ihcsi from Roxburgh 2Jd lo 2Jd. The Roxburgh peaches were just, a shade overripe. Now iHitaUics are now arriving from tho Peninsula. Oani-.irti. Auckland, and Wellington in any quantity—in fact, the supply is greater than llie demand. Prices, however, for prime remain unchanged. .-Voondary quail!v 5s to bs P" cwt. Creou |*'as are also m full Kiipply. 'llie following an- the current price.-:— Drsnges.— L'alitorniaii, l"s to 18s Ph»!is.-Am'kli!t!d. 2s 6d to 4* per \m; cherrv pitims, 3s 6<l to ss. la'i'iioiis.—li.di.in. 16s jx-r iialf Imx. Apples.—With lite exception of the Aniorifitn •-Mt'.'<i|rnu'.eni th.» inarket is now bare. Pirn*.—Scarce. Pnnana.s.-Ri'rotMigan, greon, Is to 8s; in jKvir condition. 3s to ss. Tomato's.—Auckland. Ul to 7<l; Christchurch, 6jd lo 9}tl. Strawlierries.—Prom 6d to 10d per pottle for medium quality; choice. ICd to Is; loose, from TJtl to lOtl i>cr lb. Cherried.—Ah'xamlra and othrr New Zealand gr-.uvn. 0,1 to 8*1; liiOiliuni. BJd t« Is; first quality, extra choice, up to Is TJd. Cticumlvrs.—Auckland. 5s to 7s 6d |h>iJoron; Uk-.il. 7s to 9s |xt ,Wn. New l'ot.inxs.—OatmiTU, Ik frl to Ss 4il |icr cwt; Peninstila. Id to ll'l por Hi. (Jocwlvrriiv. -Small hanily fahnblo: choice large, ?d to 3d C.r.vn \v\v<. U'l 10 ljil. Vigetables.-CaWsiges, Is 6d to ?.s per de/<'ii: Sitcl;«. to 3s M. b.-tttnv. &! to Is f;ii tvr tw.-v o; two dozen. Canliflowers, 5s to 6s per sack: Is 3d to 4- 6.1 per dozen. IWetixMi. &J to S.I is>r do;en. 110WA1I1). SMITH, AND CO. l'tf*i I«M. - u!ini--Hv Tc!fi;raiih-Cflt'vri!!ht MEbnorKA'K, January 12. The IK'W is.--u.» c.f Howard, Sieith. a:;d Co. w,-is fully Milucribcl IiUUUAUT. I'AUKEU. AND CO. Preen As.ioi.-iJt:oii~B» Teli'>TC','h—C.'»pyri?..l SVD.N'KY. Janiary 12The for sliaros in lluddart. Parkar, and Co's new pi\'f«vc!:co ivs'.ie were 7J times ami I Inordinary shares 1?. times. It has Ksn deciiiod to IluJii! tho niiitiii'.::m number a! '..-iti'il i 0 at.d the maximum 500. Af:-r allotting crtair. sliarcs iiist. are is.-e:ui.il in the interests of tho com|ianv. tho b.ilari'i' wiil bo balloted for. Kift«vr. ih*»-i----send Shan's have gone to \mv Z.'a!aiai ai.il 25X00 to Australian e? Sydney and Melbourne, which revive 60,000 and 150,CCfl rospccwvoly).

CIHUSTCHUHCH MARKETS. (L'i:ii Unhid Piikss Association.) CIIIUSTCiII.MUJII, January 12. Tim local wheat market it re]>ort(d linn, willi liliic or iiu i<iisiii<.'Hs doing, as tlio.-o fanners who have oM wheat on luind an' not. anxious le, sell in view oi the harvest boinjr lulu ami t.ho weather being s.i uncertain. 'J'ho la.«t few days li.ivo Ixvn liri;.-lit ami wain, and just, such as is re(pliicd for ripening the crops. Homo lorwaid sales of oats liavo liecn mailo liy merchants, but in the new crop with fanners i*xs not really cointneinnl a.s yet, only one nr two lines of Algerian.-, bavin,; changed hands at 2s at (I'linlty.'ialion-. No while, <,-atK have yet livun offered. A kiiii|ili> of new barl"v shown was appiircntily on the soft side when lliriyhwl, Ihr.iiijh no cafes of blight have yet been l"|X)rte(l. It is foaicd that lh.> season will be favourable for its development. Some of llio r.-;rly cro|is liavo gone oil in the tops through the attack-.; of aphis. NEW ZEALAND AND IUVER PLATE LAND COMPANY. (Pert b'sit'Kii I'iiksj AssoeuTio:;.) AUCKLAND. Jannnry 12. Tin! local olliee of the New Zealand and River Plato Com|uny is advi.-cd that at tho animal mectine; the livHiuiiendaUoiit; of the (liivt'ltir.- us lo the. ili>i»wtl of the. year's profits, ulreudy published, had Iweli approved, and ;l resolution ior iuua'usiuir the capital p-.'.wed. .q. BUTTER AND CHEESE MARKETS, RECORD PRICK FOR CHEESE. Mr .1. It. Scott (iw.rct.-uy of the South Islam! Dairy A.-sociatimi) received lli<: following l/i'mlon cablegram ycrlordav:— "Buttw: Danish, 140s per ewl; New Zealand, tailed and un.-altod, 1375. Moderute demand at nrrtwnl price.-!. "C'hocto: New Zealand while, 745; coloured, 73« 6d. Market quiet, but Bl'.-.lil\\" \V<y!<lol and Co. cable lliat they have sold all fheir client l con.-ignmeiits c.v. the Tiirakina. at equal to 7 M6d por lit, f.0.b., not. This as a record prkv to far, but Mr Scott says it is not iinprolxihle lhat it. will yet. be bivilen, as cheese is evidently in abnormally short supply in th - ; United Kingdom. .Mr Scott wwil. soiilh la. ; t ovenin;; tn sH|x>rviKi> the Illilll leading of cheese on tho Delphie. which is due to make her final departure for Limlim from Auckland on the 25th iit-t. AlkhK. 4400 crates of clirosa will 1»> loaded at the Ululf. and on the Dolpliie's arrival from tho southern port at Diinediu next weol; the local eor.signinont- of ulcul 1100 crate* will be placed on board. o COMMONWEALTH WHEAT STATISTICS. From a reliable source we gather that Hie estimated wheat crop for the Coiunionw«illb is irivrn as 77.C00.0C0 hnslio!*. If from tliis total is ikduclnl 31.CC0.000 bushels for food and ,«>."xi it loaves a |/)i,il of /ib.OOQ.OOO Wtshels for cxix.rt, to ivliicli has to l>:i iuUloil 6.00(1.000 'buchoU c.irripd owr front 1910 and 1911. making n Rrantl oxmiriaU'.o sumlns of 52.000,000 bushels. Tim aw. of wheal laid <l*iwn and 111" e-sti-inated yields from llio ditToront Statf.s are. as follow:— Avu. Area. Yield. |ier State. Ariv.s. Ru?'iels. acre. X.S.W. ... 2.9.67.845 23,?72.0!10 10.51 Victoria ... 2.?21.0O r ) 25.571.000 ll.'S S. Aiislralia... 2.163,700 20.650.640 9.&1 W. Australia 5f19.H0 5.146.f1?6 9.2 Queensland ... 47.538 381.22-1 8.02 Tasmania ... 50.000 750.0C0 — Tolah ... 7.414.193 76,901,660 Our informant states that from what bo can iralher South Australia and New South \\'<il?s are iivcragiiiß better returns than those (,'ivon uiven, fo that if prices keep firm the Commonwealth slioold have a bis monetary return from its cereal crop this year.