COMMERCIAL SUMMARY.

Otago Daily Times, Issue 16415, 21 June 1915, Page 1 (Supplement)

COMMERCIAL SUMMARY.

Daily Times Office, Saturday, June 19. The rates of interest for all Dunedin banks remain unchanged, as follows:—Deposits: Six months, 2 per cent.; 12 months, 6i per cent; ZH months, 4 per cent. FOODSTUFFS. So far as the local wheat market is concerned, there is little to chronicle; but the season is now wearing on, and with offerings not being made so freely as heretofore, the market has a firm tone. Millers are the only buyers. Northern velvet wheat is quoted at 7s 3d per bushel, on trucks at country sidings, Hunter's and Tuscan 2d per bushel lees. Southern-grown wheat i 3 about 2d per bushel less for the respective qualities. The oats market shows an advance of about 5d per bushel since last summary, the increaso following on the expressed opinion of the Prune Minister that there will bo a shortage of oats. The Defence Department is requiring considerable quantities for military purposes, and this demand is also having a firming effect. A Gartons are quoted at 4s od, f.0.b.5.i., and B's at 4s sd. The tariff of the New Zealand Flour and Produce Agency Company is as follows: — £ oL 1(^; lOO l b *»**• £18 >- 50Ib base£lß ss; 251b bags, £18 10s. Pollard, £9 10s. isran, £8 15s. Oatmeal is quoted at £22 a ton for 25's Pearl barley, £22 10s. PRODUCE REPORT. Chaff has advanced 10s a ton, and potatoes about £2 a ton since last summary. The demand from Australia is responsible for the rise in the prices of potatoes. There seems a probability, however, that the Government will prohibit the export of potatoes. Current wholesale prices are as follow — Chaff.—Prime oaten sheaf, £6 17s 6d to £7; medium to good, £5 10s to £6 (sacks extra).

Potatoes.—Prime Oamarus, £6 15s to £7 ss; Taieri-grown, £6 15s to £7 ss; medium to good, £4 10s to £5 10s. Hay, £6 10s. Straw.—Oaten, £3 10s; wheaten, £2 10s to £2 15e. Eggs.—Fresh, Is sd; preserved, Is 2d. Butter.—Dairy, Is 4d per lb; milled, to Is 4d per lb; separator, in lib packets, to Is 4d. Pigs.—Baooners, s}d per lb; porkers, s£d per lb. Bacon.—Rolls (in quantities), lOAd; sides, 10d; hams, lOd per lb; boneless hams, IOAd per lb. z WIL ,J£AM E. REYNOLDS AND CO.'S DUNEDIN MONTHLY REPORT. We report as follows for the month ending June 19:— We are now experiencing seasonable winter weather. Some snow has fallen on tho high country, and the rainfall all over has been ample. Winter work is, therefore, progressing favourably. The harvest has been a very late one in the south, which hae resulted in a fair amount of damaged grain being placed on the market. On the whole, however, the southern crops have been saved in better condition than was anticipated some time ago. Trade in foodstuffs generally has been good, and lines free from Government restrictions being in good demand for export. Wheat.—The market has shown little life for some time past. Millers having secured stocks to last them for some months, have not been keen buyers, and there being no other outlet, on account of the prohibition of export, growers are in the millers' hands tp some extent. There appears to be every indication that we have sufficient supplies available to last out the season. AVe quote nominally good milling at 7s 2d per bushel of 601b, f.oJ}., sacks extra. Oats.—The market has been subject to considerable fluctuations since the opening of the season. With the advent of ti;e southern crops it gradually receded up till six weeks ago, when a sudden change took place, and it rapidly rose again to almost the highest point touched in April before the embargo was enforced by the Government. 1 o-day the market is quiet, having once m<|re receded Id to l£d from the values ruling a fortnight ago. It is quite impossible to/give any indication as to the future of this majrittt.. Merchants fully realiiso that prioes are dangerously hign, but at the same time conditions surrounding the market are so abnormal that it is ditricult to see how prices can come back to any extent, and it is quite possible that even higher prices may yet rule as the season advance, owing to unforeseen factors affecting the market. We quote values to-day: A Gartons 4s 4£d, B Gartons 4s 3£d to 4s 4d per bushel of 401b, sacks in, f.o.b; other grades at proportionate rates. Barley.—The crop has now practically all passed into second hands, consequently little business is doing. Maltsters are stiil open to buy best quality at full prioes, but it is now difficult to secure. VVo quote malting at 5s 9d to 6s per bushel of 501b milling, and feed quality also ruling at high rates.

Seeds.—Wβ have just been through tho dead season of the year, and the business passing for the last two months has been almost nil. There is now some inquiry coming along, and from now on this should gradually increase. With few exceptions values are at a high level, and this fact will, no doubt, interfere to some extent with the sawing- demand. Ryegrass.— Values held up better than was anticipated during the quiet season and prices to-day aro fully. up to those ruling at the end of the autumn demand. Aβ tnere is now a much improved inquiry thejx- appears little prospect of prices coming any lower, and some improvement in values is quite possible. Wo quote machine drsesed seed at 6s 6d to 7s 6d per bushel of 201b, according to bushel weight. Heavy weight seed is particularly scarce. Cocksfoot.—The market has been absolutely stagnant for some time past. Purchases of imported seed are now coming to hand, the quality of which appears to" be quite satisfactory. We quote 16171b machine-dressed up to 10£ d per lb, f.o.b. Clovers.—With no business passing values to-day are purely nominal. Imported white clover is now more reasonable in price, but still high. Imported red, aisrke, and trefoil are all at moderate prices, and will probably be used freely for sawing on this account.

Butter.—There is not much of interest to report, seeing that the export of butter hats recently been prohibited. This was found a necessary step to take owing to Australia drawing upon us so heavily. We are only accustomed to make a certain amount of butter during, tho winter months, not sufficient, in fact, for local requirements' and quantities held in store this year are considerably short of former years'' stocks. The market, therefore, continues strong dts spite she embargo on exports, and we may give the price ai from Iβ s£d to Is 6d per lb for best brands, f.o.b. in bulk. Cheese.—Very few factories continue making through the winter, and those that do continue only turn out very small quantities cornparativery speaking. The recent riso again in London has caused some of the late made cheese to be sent forward consequently it is eafe to eay we will not have more on hand through tho winter than will bo consumed locally. Something depends upon how far present exceptionally high pnoee will restrict the consumption.

Meantime, wo can quote the market very firm and fairly buoyant at from 9d to 9Jd per lb, f.o.b. for medium sized coloured. Flour.—The market continues unchanged with a slightly better demand. Value today is £17 10« per ton of 20001b in bulk. UatnicaJ.—Trade is good, and prices have advanced in sympathy with oats. We quote tn-day £22 per ton of 22401b in bulk. Bran.—Stocks aro very low, and p'ricw have again advanced. To-dav's quotation is £8 15s per ton, f.o.b. Pollard.—Practically none available, price is 'nominally £9 15s per ton, f.o.b.