COMMERCIAL.

Otago Daily Times, Issue 19270, 6 September 1924, Page 8

COMMERCIAL.

Daily Times Office, Friday evening. The first forecast of the 1924 wheat crop in Italy placed the yield at 176,368,003 bushels, compared with 224,836,000 bushels in 1923 and 161,611,000. bushels in 1922. The annual production of wheat in Italy during tho years 1909-13 averaged 183,334,000 bushels. This average does not take into account the production of tho new territories of Venezia Tridentina and Venezia Giulia, which during tho past three years have added about 1,000,000 bushels to the annual production of Italy. ♦ . . At the beginning of June cnop conditions were almost everywhere better than those of a month earlier, although the situation in Northern Europe generally and. in parts of Russia was less satisfactory than at the eame period in 1923. Brospects m Danubian and Balkan countries were, however, more promising. In North America crops conditions at the beginning of June were generally below those of. June, 1923, while growth is backward, especially in Canada. The area sown with -spring wheat in the United States is less than last year’s, though tho decrease ia not quite so marked as.had been expected. Some decline has also taken place in the areas under rye and barley. For wheat, estimates from five countries usually growing about one-fourth of ’ the world’s yield afford an aggregate of 745.1 millions centals, as compared with 816.4 millions in 1923, thus showing a predicted decrease of 8.7. The most serious decline is in the United States, where the outlook is. for a crop of 55.5 million centals less than last year’s, and 112.7 millions below the average of the previous five years. In-Spam and in India results appear likely to be less favourable than in 1923, but better than the five years’ average yields. Belgium expects crops rather larger than in 1923/ and over their previous average outurns. These data du®.l with a number of countries too limited for any authoriattiv© opinion on the season’s aggregate results; but taking into account the reduced acreage' and the piesent aspect of spring-grown crops generally, there is good reason to believe that the Northern Hemisphere wheat crops in 1924 will, as a whole, be inferior in quantity to those of last year. - : LOCAL REPORTS. , The wheat market remains lifeless, with practically no samples on offer. Millers.are working on the cargo of •. Australian wheat, ex Waimarino. Another cargo of Australian is due at the end of the mpnth. Although, tho cargo by tho Waimarino was not sufficient to meet all tho requirements of local millers, a certain quantity was released for use as fowl wheat. Sales of New Zealand grown wheat previous to. the shipment had been made, at 6s 9d per bushel, sacks extra, ex truck, but the Australian wheat was sold by the Government’ to local retailers at 6a 7d per bushel. There has been very little New Zealand grown wheat offering for fowl food, and from now onwards it appears that poultry feeders will have to rely mainly on the Australian cereal. A fair quantity of wheat is going out for seed, but this demand should cease shortly, as September is the latest month for sowing wheat. Farmers evidently consider • that good prices will be obtainable for next season’s crop, and are sowing down as much as they can. Dunedin millers' prices are as ■ follow: Flour, 2001 b, £ls 10s per ton; 100" s, £l6 10a; 50’s, £l7 2s 6d; 25’s, £l7 10a. Bran, £6 per ton. Pollard, £7. Oatmeal: 25’s, £3O; 200’s, £29. The arrivals of Canadian, oats have at last affected the market for New Zealand grown oats. There is a surplus of Canadians out of the shipment ex Las Vegas.’ These were' offered, at 5s 61d, ex wharf, but ■ very few buyers were found. As a consequence the surplus has been put into store. The prices for New Zealand grown oats for shipping havt\ weakened, but there are no buyers on an f.0.b., e.i. basis. B Cartons have been quoted at 5a 9d, f.0.b,, e.i., without finding buyers. North Island merchants are qot anxious to purchase New! Zealand grown, as they are carrying fairly heavy supplies of Canadians. The only buyers are those operators who sold New Zealand oats for forward delivery and have now to meet their obligations. The demand for seed oats has been strong. It is still difficult to secure good oats suitable for seed purposes. The quantity being sent to the country is much larger than usual, and evidently growers have been tempted by the high prices, and intend to put down a greater area than usual. The present fine weather is enabling farmers to sow fair quantities of grass seed. As a result retail merchants are placing fairsized orders for seed. PRODUCE REPORT. Consignments of chaff are on the light side. Good quality is to-day selling at £8 5s to £8 10s per ton, sacks extra, ex truck, but it. is noticeable that the high prices are checking consumption. Consequently, although supplies are short' prices have not firmed. Canterbury merchants are 'still sending to the Dunedin market and good quality can be bought at an equivalent to the above price. There is very little locally-grown available, only an occasional .truck, coming to band from the southern districts. The potato market has weakened, and best quality to-day is selling at £6 lOs per ton, sacks included. Most of tho retailers are now carrying fair stocks, and are not anxious to purchase many. more. in. view of tho early advent of North Island grown new potatoes. Consignments are coming to hand from Canterbury and to a less extent from the south. A line of Australian potatoes is being shipped to Dunedin from Melbourne. The price for these is stated to bo £3 5s per ton, f.0.b., s.i. Current local wholesale prices are as lowChaff. —Good quality, £8 5e .to £8 10s, ex truck. Potatoes, £6s lOd. ■Dairy Butter. —Best milled, bulk, Is 6d per lb; separator pats, Is sd. Eggs.—Stamped, Is 2d; case. Is Id. Bacon. —Bolls, to Is 2d per lb; sides,: Is Id. Hams, Is 2d per lb; boneless, Is 3d. Onions. —Melbournes, up to 22s per cwt. FRUIT REPORT. A busy week has been experienced in tho fruit and vegetable marts. There have been moderate supplies only ,of cooking and dessert apples, and the market has firmed. Stocks of navel oranges have 'now been reduced. The next lot is due from Adelaide by the Canadian Constructor, .which is expected here in about a week’s time. Bananas, Harotongan oranges,, and tomatoes will bo on offer at the marts to-morrow (Saturday). A line of dessert pears, out of Canterbury cool stores, arrived during the week, and woe readily plaozd-

A parcel of New, South Wales grown mandarins, ex Ulimaroa, at Wellington, will be offered to-morilow (Saturday). ' About 130 cases of pines, passions.. Sevillefl, and mandarins arrived ex Whangape. • The fruit, with the exception of ' the mandarins, opened up in good order. Heavy supplies of cauliflowers _ came ‘forward during the week. Good quality brought up to 10s per sack. Cabbages are still in short supply. Best-quality heads are Worth about 9s per dozen. The following are the latest wholesale prices; Apples.—Stumers, best, 10s to 12s. 6d; cookers, 6s'6d to 10s; Lord Woleoley, 12s 6d. Fears.—Half-Case, 5s 3d to As 9d; Winter Nelis, 8s 6d to 9s. ■ • ' Oranges.—Adelaide, 15s to 17s; Navels, 18s to 20s; Island, 15s to 17s, as landed. Lemons. —Auckland cured, 13s to 16s; Adelaide, 23s to 255-. '

Mandarins, 21s to 21s. Passions, Its to; IGs. Spinach, 2s, per dozen. Leeks, 4d to 6d per bundle. • ■ ■ (Radish, to Is per dozen bunches. Celery, Gd to 9d pen bundle of six sticks, small, id. . ' ' . \ Spring onions, Sd to 5d per bundle of six bunches.

Parsnips, is per dozen bunches; sacks, 8a to 9s per cwt. Carrots, 9d to la per dozen bunches ; • 5s 6d to 7s per cwt. ' Cabbages.—Choice, to 10s 6d per sack; loose, to 6s per dozen; savoys, large, 9s Gd per dozen; small' 4s to 4a Gd per dozen. Cauliflowers. —Choice, to 10s per sock, medium, to 7s Gtl; small and inferior,' 4s to 6s; loose, prime, 8s to 10s per dozen; medium, 6s; small, 4s. Beetroot, is to Is 6d per dozen. Lettuce. —Choice, to 6s per case; small, 2s to 5s per case. Swedes, Ss Gd'per cwt. BANK OP AUSTRALASIA. , Press Association —By . Telegraph—Copyright. LONDON, September 4. The Bank of Australasia has declared an interim dividend of 10 per cent and a bonus of 3 per cent., tax free.—A. and N.Z. Cable. ' : ’ , PRICE.OP GOLD. Press Association —By Telegraph—Copyright. LONDON, September 4. (Received September 5, at ,8.25' p.m.)' Gold, is quoted at £4 12s 54 .an oz.—A.and N.Z. Cable. - ■ LONDON MARKETS; • . Press Association—By Telegraph—^Copyright LONDON, September 4. fßeceived September 5,- at 8.5 p.m.) Butter is very slow., Danish, 208 sto 210 s. Other quotations are practically un ck »»eed* Unsalted is ; cleared. , ’Cheese is. quiet. New Zealand, white 94s to 965, .coloured 925; Australian coloured, 90s to 925. . .. .■•••• • ... . Bibdfoyd, tops show a strong tone with more inquiry; than l business, hut .stocks are firmly held. Sixty-fours, 77Jrd; sixties, 70d; fifty-sixes,. SO^d;. fifties, 36Jd; , 29d. Wheat cargoes' are diaappoipting and are somewhat easier. Parcels. are ,in fair request and are unchanged. The .spot trade is quiet, and quotations are generally-dearer but mostly nominal. Australian (ex'ship) is quoted at 60s. . ' • • ■ Flour is firm. Australian (ex store), 43s to 43s 6d. V Gate ore tending upward. . Peas and beans are steady and , unchanged. Sugar (granulated) is-quoted at 40s lOJd.— A. and N.Z. Cable, MELBOURNE MARKETS. Press • Association —By Telegraph—Copyright. MELBOURNE, September 5. At tho .hide sales heavy and medium classes advanced id per lb. Light sorts were unchanged. Oats, 3s to 3s 3d. Barley; Unchanged. Potatoes, £2 5s to £2 15s. Onions, to £l3. LONDON WOOL SALES. The New Zealand Loan and Mercantile Agency Company have received the following cablegram. from their London house, under date . September 2: The September wool sales; Lists closed on September 1.. The _ Ruahine, Tekoa, Otati, Arawa, Port Caroline, Rotorua, Canadian Pioneer, and Port’Victor shipments are available. LONDON MARKETS. , Messrs Dalgety - ' and Co. report having'received the following. cablegram from their bead office, dated London, September 4: The butter market is very quiet. Now Zealand salted, 2065; New Zealand exceptional, 210 s; Danish, 2125; finest Australian salted, 2025. Cheese; New Zealand white 945, colour 92a; Canadian, 925, c.i.f. The Otago Farmers' , Co-operative - Association of New Zealand (Ltd.) are in receipt of the following cable from their London office: Butter; New Zealand, 206 sto 2065; Australian, 200 s. Cheese: New Zealand coloured, 94a; white, 965. , : i Fraser and Co., agents for the Otago Egg Circle, 146 Crawford street, Dunedin, report: —E'-'gs: We now have 450 crates packed for shipment. We hope to have 1000 ready for shipment of the 19th. The latest quotation from London ia very encouraging. The local market is unsteady, at la 2d for stamped and Is Id for case. Butter: Market firm at Is 5d for bulk and Is 5d for pats. Pigs: There is a good demand for prime baconers and porkers at 7Jd.to 8d; over-weights, 3d to 6d per lb. Tallow:' Market steady, from 19a to 23a, according to quality. Honey; Prime bulk, 5Jd per lb. Beeawar: Sales are slow at Is 6d per lb. Potatoes: Northern, £7 10s; Taieri, £7 15s. Onions: Melboumes, 20s per cwt. Carrots, £6 10s, per ton. Wo are agents for the Jubilee and Utility incubators—prices on application, and sole agents for Paireora meatmeal., We stock- “Star. P” chick food, lucerne meal, poultry meal, oats', bran, pollard, and .wheat. Rice meal, £8 per ton of 20001 b. Champion egg crates, 18s 6d. Leg rings, Is per dozen, special quotes for quantities. Poultry: There is a good demand for all classes of poultry, especially for good young cockerels and turkeys. We sold as under; —Hens—3o at 4s, 85 at ss, 25 at 5s 4d, 31 at 5s 6d, 40 at 6a. Ducks; The market declined. W© sold 40 at ss, and 40 at 6s. Cockerels—4 at 6s, 12 at 9s, arid 15 at-10s (all at per pair). Turkeys: 12 hens at Is, and 14 gobblers at Is 2id per lb (live ■ weight). CLEARING SALE. The Canterbury Farmers’ Co-operative Association (Ltd.) in conjunction with the National Mortgage and Agency Company (Ltd.), Waimate, report having conducted it highly successful clearing sale on Wednesday last at “Craigburn,” Waimate, on behalf of Mr A. R. Flint. Mr Flint, who only recently arrived in the dominion from the Mother country and - purchased “Craigburn” farm, has proved himself a decided acquisition - to the stud stock breeders- of this country, having imported from ■ the leading breeders at Home a number of Southdown ewes and rams, which are certain to improve this very fashionable bred here. In addition,, he purchased heavily Jersey cattle from wellknown South Island breeders, and a few Frieeians, . and the whole of the live stock offered reflected the greatest credit on the owner. An attendance of buyers, estimated at fully 1500, representing the farming community from the Wairarapa to the Bluff, was present, and the live and dead stock, the latter practically now, mert with -most animated competition. The following wore the principal sales made; —Southdowns: Ram, King William I (imp.),. 100 gs, buyer A. W. Adams (Shieffield);. ram, King Richard I (imp.), 17gs, Alan Grant; ram, King Henry I (imp.), 35gs, D. G. Wright; ewes (imp.), 30 to ,42ga, the buyers .being. A. S. Elworthy and Alan Grant 1 ; ram hoggets, 5 to Bga; ewe hoggets, 5 to , 6gs;ewes with lambs at foot, 5 to SJgs; and one of exceptional quality,- with a magnificent ram lamb at foot, by King William I, at 20gs, to Msr D. G. Wright. Jersey cattle; Cows m calf, 25 to , Sags; heifers, . springing, from 15 to 25ga; heifers, empty, 15 to 30gs; grade cows in calf, up to £l4. ■ ' . Horses; Aged gelding Pnnoe, £42; others, mares and geldings, £3O to £37;..ponies,-£ls to £2l 10s. ___________

CANTERBURY MARKETS. (Peb United Press Associahon.) CHRISTCHURCH, September 5. The potato market has ‘ changed' once more. Ten days ago potatoes slumped to £4 10s a ton, f.0.b.. 's.ii, and to-day sales have been made at £3, 10a/ at which price offers have, also been'refused. Actual potatoes are not. wanted except for the northern coastal trade. The jump is entirely due to the squeeze ” over sellers who are 1 unable to deliver the goods. , Some of the consigned potatoes to Auckland by the Wingatub were sold on the wharf at £6 a ton—equal to 1 £4-• 10s, f.o.bi, ■ s:i., -at Lyttelton. The Rakanoa, from Lyttelton, has taken 2800 sacks to the northern city, and the Wanaka is'. duo to- sail to-morrow with another small consignment. The oat position is ..unaltered, but no stock worth speaking of are on‘hand to fill even retail orders. Values for B Qartona are about 5s lOd; f.0.b., s.i. The chaff market is etill'-firm, and, under the present weather • conditions, may remain so _ There has been a movement during the week in the cowgrass market. . The wet season in England is causing 1 some' inquiry regarding - Canterbury crops, 1 and the market, which has been very 'dead for some time/' is showing some signs of life without any advance on values, which'are 8d to 9d a lb to farmers. Peas arq also a _little brighter. All other classes of seeds are lifeless, but it is the general impression that next season will see a high l scale of prices .for most products. The .continuance 'of " dry .weather is not favourable to good yields. THE ; SOUTHLAND WOOLLEN MILLS (LIMITED). i The movement started recently to erect Woollen mills, in ;Southland-,has met. with considerable support in the southern province, and has resulted in the formation of a public company itnder the' style of the Southland Woollen Mills (Limited). The nominal capital of, the company is £200,000, divided in 200,000 shares of £1 each, of which 100,000 are 'being offered to the public for subscription. The company has already over 475 shareholders, ■ who represent subscribed capital of over £30,000. It is understood that the company will go .to allotment about the middle of this month. LONDON METAL MARKET. Press Association—By Telegraph—Copyright. ' LONDON, September 4. ■ (Received Sept. 5, at 10.20 p.m.) Copper.—Spot, £63 lls ! 3d; forward, ’ £64 11s 3d. Lead.—Spot, £33 3s 9d; forward, £32 2s 6d. , Spelter.—Spot, £22 2s 6d; forward, £32 15s. Tin.—Spot, £256 2a 6d; forward, £256 17s Gd. Siilvelr'. —-Standard,. 1 343-rl; fine, , 37§d . per ounce.—A. and N.A. Cable; IE YOU WANT' SEED - POTATOES, -A i VARIETY, , ‘ , ' ’ ; Tr y. , BRAY BROS., Emit and Produce Merchants, 77 Bond Street, Dunedin.—Advt.