COMMERCIAL SUMMARY.

Otago Daily Times, Issue 15578, 7 October 1912, Page 1 (Supplement)

COMMERCIAL SUMMARY.

Daily Times Oflico. October 5. MOSEY AND TKADE. Tlio rales of interest for all Dunodin banks aro now as follow:—Dcjxisits: Six months, 2 per cent.; 12 months, 3J per cent ; 24 months, 4 per cent. BREADSTUFF. Tiio wheat market lias been steady since last summary, though it cannot bo 6aid Hint any great volume of business bus been transacted. Millers aro the only purchasers and arc ready buyers (or all lots of good conditioned wheat, of which, however, there is not a groat deal now offering. The ruling rate of 25s a ton, combined with the absence of any great amount of Homo shipping space, had kept shippers' operations rather restricted. Now, however, owing to the higher freights being ollercd from Australia, shirs unloading here urn goins across the Tasman Sea to load Home cargo, and, in sympathy with this stnte of affairs, those boats which are sailing from hero have increased their freight to 53s u ton—which is even now not w high as is being obtained in Australia. This latest increase has quite removed any idea of getting further lines of wheal sent from here, and as a result it can safelv be predicted that millers will now have sufficient slocks lo call on to see them on In the time of tlio next harvest. Had much wheat has been sent out of the country, it is pretty certain that milling wheat 'would have been somewhat scarce—as the season wore on and that prices of both wheat and flour would have advanced. Ploughing has beeu delayed owing to the amount of rain which has fallen pretty well through the the South Island, and the harvest next year must be a late one. It would also appear as if the area laid down in wheat will not bo ns largo as was Ihe case last year, .tiixed lines of velvet, Tuscan, and rodchaft are worth from about 5s lljd to k per bushel of 601b, f.0.b.. s.i.

The tarifi" of the Flotirmillcre' Association for flour and other lines is as follows:— Flour: Sacks, £8 15s; 1001b bags, £9; 501b bags, £9 ss; 251b bags. £9 10s. Bran, £4 15s per ton. Pollard, £6. There is very little change to report in the oat market, business having boon slack right through, the month. Tho Corinthic took about 13.000 sacks from Port Chalmers for London, tho space having been secured some timo ago. The increase in the cost of freight has, liowovcr, now practically stopped all Home shipment. The Australian demand continues short, and Ihoro is very little inquiry from the North Island. Offerings from the country arc being restricted owing to the fact, that fanners are too busy with tho ploughing to thresh. Inferior lines, however, are very plentiful. As is the case with wheat, the area to bo put down docs not appear at time of writing as if it will be as large as last year. Merchants' shipping prices nominally rule as follows :~A Gartons, 2s 4{d In 2* 5d (f.0.b.. sacks in); B Gartons and A sparrowbills. 2s 3Jd to 2s 4d; B sparrowbills, 2s 3d. rnoDiTCE RF.ror.T. Forward busine« in the export of potatoes is still being done with Australia, but theso orders aro now being pretty well completed, and the stocks for Ihc'scjuson are getting into short conqviss. For the 32 months ended August 31. 1912 8556 tons (£M,l4f) of potatoes havo been exported £ 0 r!U N ?' z -" ilwml . « against 913 tons (±.5452) for the similar ncriod last year. Other produce lines are" practical]*- unchanged, as from last Summary report. Current prices arc as follow*:— Chaff.—Prime heavy oaten sheaf, £3 !" J ?. 75 . 6 | 1 : medium lo good, £2 5h to £2 17s 6d; inferior, FA 10< and upward?. Straw.-Oaten, to £1 15s; wheatcu £1 10s.

Hay. £3 per ton. Potatoes.-Prime, freshly dug, £7 10s; medium In crood, £6 10s.

Oniors.—Prime California!!. £17 per ton l'}.M.'s.-KrMih, lid; stamped, HJd. Bitttrr.-Dairy. 9W per lb: milled, 10.1 per lb; sennrator. in lib pats, lOd to 11.1. Pigs.—Bncnners. s*d to 6d per lbporkers. 6.1 to 6id. '

Bacon.—Rolls (in quantities), 9Jd; bonoless hams, Is; sides, 9Jd; hams under 20!b IOJd per lb

EXPORT RETURNS.

WELLINGTON. September li. The value of the principal New Zealand products passed by the Customs for export during last August is £1,159,039, the (Hires for tho corresponding period of lost "vcar being £684,255. Tho details are as follow: Butter, £29.477; cheese, £4303; frozen beef. £36,678; frozen mutton (carcases), £122 747*; legs and pieces, £5691; frozen In'mbr. £168,739; wheat. £36,472; oats, £37,937 potatoes, £26,288: hemp. £-36.745; rabbits £12.674; tow, £1617; kauri gum, £42,622; grain and pulse (other than wheat and oats), £15,37 d; bops, £1335; hides, £28.3'6; skins (all kinds), £119,305; tailow, £70,121; timber. £32.673; wool. £261.130; gold. £63,573. The total for the three months ended June 33, 1912, is £5,666,110, compared with £4,339,031 for the correspond, nig period of last year. For the 12 months ending August 31, 1912, the value 0 f the principal exports totalled £19.292.906 and tor the previous 12 months £18,561,895

VVILMAM R.REYNOLDS * COY.'S

OUXKDIN XIONTiILY REPORT.

Wo report as folious ior the month ending October 7th, 1912: — fionwnublc spring weather lias km experienced on tlio whole. Some districts still complain of tco much moisturo, and a consequent delay in working the ground, but generally speaking ploughing and sowing is proceeding rapidly. Owing to various causes a decreased area tinder crop for the coming season is anticipated, not the \m\ of these being tho difficulty in securing ii.«i!tai;cc at harvest lime, which has forced growers to plant only what can be conveniently handled without tco much outsido assistance.

Wheat.—A slackening in the London market, to which the local market did not respond, put a stop to nil export business. A fair amount of trade vain, however, done while conditions were favourable, ami shipments in completion of orders are now being made. An advance in ocean freight has now been announced, and at the moment the prospect of any further export business being done appears to be verv remote. Local millers are operating quietly. qikl picking uy> n/iv lines of really good quality that come on tho market. We fiuote vnliies today as follow:—Prime millmg, 5s lOd to 3s lid; medium, & 9d; fowl wheat, 3s 8d per bushel of 601b f.0.h., sacks in. Oats.—The demand, f.-om London has contirrued right through tho month, and a fairly largo volume of business has- boon done, the quantity only hcintt limited by tho oces.n freight available. London buyers are still open at late rates, hut u somewhat unexpected advance in freight, which is now 30s per ton, as against 25s lately ruling, has put a stop to furtlror business meantime. Hvcn at the advanced ratc ; little, if any, prain ypaco is available in the steamers loading in October. The demand from the North Island continues quiet, and the same applies to Australia. The deliveries from the country during the next two months are a most uncertain quantity, but will be n distinct factor in the future movements of the market, stocks in port stores being light for this time of the year. We quoto values to-

(lay as follow:-A Gortons 2s 4Jd to 2s sd; B Gartons and A sparrowbills. 2s 4d; B sparrowbills, 2e 3Jd per bushel of 401b f.0.b., sacks in.

Barlojv—The market is lifeless, and as is usual at this time of the year, very littlo is offering from the country. Wo can therefore only givo values nominally as follow: — Host mailing, 4s 9d io 5s per bushel of 601b f.0.b., sacks extra; milling and feed dull at much reduced prices. Ryegrass.-A good retail trade with Hie country is passing, but tho wholesale- domand is disappointing. Tho inquiry is almost entirely confined to heavy-weight lines, which aro ;iow becoming somewhat scarce; tho lighter seed is offering at much lower prices, bul is not in favour with buyers. Wo quote: 31/321b seed up to 3s 9d; 301b to 3s 7d; 27/281b, 3s lo 3s 2d; 24/2Slb, 2s 8d to 2s 3d ]>cr bushel of 201b f.o b., sacks extra. Italian ryegrass is in good demand, well marked seed being worth is 6d to 3s 9d per bushel of 201b.

Cocbfoot.—Tho demand is disappointing and the outlook not good. Tho prcepocts ot export trado aro very remote. In view of the position merchants aro stocking with great caution. Machine dressed seed is worth 6Jd to 7d per lb according to weight and condition.

Clovers.—The strong demand mentioned in our last has continued, and May all varieties are very lirm at advanced rates. Slocks aro hardly equal to tho demand, and tho present high price* aro certain to contmuc through the spring. Butter.—Tho season Irom a buyers' point of view so far has bcon distinctly dituppointing. For two or throo v>ars r.itt thoso factories which sold early did not do so-will as thoso selling later. The result i 5 tl.nt this season factories in all districts have acted very guardedly, continuing to request highor bids than buyers could possibly give, and consequently onlv ono or two factories havo sold. Tho bulk of tho outputs which have been sold havo not been purchased for London shipment, but for local use and Vancouver shipment. As to prices, tho lowest wo have heard of factories offering to sell at is 12Jd f.0.b., while buyers' limits havo ranged at from 12d lo 12] d, and in some cases wc understand slightly more. As far as ono can judge tho iiosition at present it is that most outputs will go' forward on consignment. Cheese.—Tho season opened with a great rush; and, for similar reasons to thoso given with reference to butter factories, all sat' pack and would not sell. More than ono buyor had limits of equal to old on truck; and many factories' refused this price. , Sonio ten days ago ono buyer came in with a limit of 6sd f.0.b., and secured soveral small outputs at this price. Market sinco has weakencd considerably, and limits at ,timo of writing all appear to havo been modified. As is only to be expected, factories arc now keen to sell, and wo would not wonder if business is yot done at 6Jd f.o.b. duriug tho coming week. If buyers do not come ut> to this price, wo arc of the opinion a "fait proportion of tho factories will docido to consign in preference to selling at a tower figure. t Flour.—A modorata business is passing* and prices remain unchanged, tho tariff being :-200's to £8 10s; 100's, £8 15s: EO's, £9. f.0.b.. net. Oatmeal.—The demand is falling off. The value of bulk is £12 10s pox ton of 2,240 lbs. Bran.-Somo small export business has been done, relieving stocks. Association price is £4 10s.

Pollard.—Prieo still remains at £6 per ton, sfocks not being heavy.