COMMERCIAL.

Otago Daily Times, Issue 19904, 25 September 1926, Page 15

COMMERCIAL.

Daily Times Office, Friday evening. It appears that the prices of wheat in Australia are now above the world’s parity, it nuu neon thought in Australia that most of vne surplus crop had been marketed, but late advices show that there is still a considerable quantity of wheat available. It is now practically certain that the coming harvest is going to be a good one, and as a consequence there is a movement to sell the old season’s wheat at reduced figures, either as wheat or as hour. Counter otters have been asked for wheat, and the quotations for flour have also been reduced. This change in the Australian market has forced down prices in Now Zealand, and flour prices were reduced in Dunedin last Wednesday by £1 per ton. rtran and pollard have also been reduced £1 per ton. Both the milling and the fowl wheat markets have now a weaker tone. A supply of Canadian wheat is expected in New Zealand some time next month, the first, boat having already _ left Vancouver. Some of this wheat will come to Dunedin. Good whole fowl wheat is quoted at 7s fid per bushel, sacks extra, ex store. Milling wheat is bringing this price on trucks. The grass grub is seriously effecting the wheat crops on the Taieri and furth-r south. It is also understood that it is in evidence in some of the northern districts. The prevalence of the grub is said to be following on the mild winter experienced. The grub will continue its attacks until November, when it will turn into the turnip fly. The quietness in the oat market continues. The demand is weak, but, on the other hand, holders are not anxious to sell, as they are hoping for better prices. The North Island demand has been poor for some time, and in certain quarters the quotations have been reduced in an endeavour to make sales. A Gartons are on offer at 4s 2d, f.0.b., s.i., and B s at 3s lid, but no business is resulting. Undergrade oats have been sold in small lots at prices ing from 3s fid to 3s 9d, f.0.b., s.i. A Gartons are worth 3s 2d on trucks in the country, sacks extra, and B’s 2s lid. The demand for seed oats has been a little better, but it is recognised that there is not nearly the same quantity being sown this season as in previous years. Miller’s prices for flour are as follow2001b, £l9 ss; 100’s, £2O ss; 50’s, £2O 17s fid; 25’s, £2l ss. Bran, £7 10s per ton. Pollard, £9 10s. Oatmeal—2s’s, £25; z.OO s, £24. Consignments of chaff are on the light side, as cutting has eased off in the country with farmers engaged on other more important work. The demand for local consumption is on the small side, but several parcels have been sold for shipment to Auckland, where merchants are prepared to pay £7 15s, f.0.b., s.i., for prompt delivery. Advices from Auckland go to show that they will not pay the foregoing price, as lines can be landed from Adelaide to compete with nnv price above that named. Any lots of good, bright quality are realising up to £6 per t-.»i. sacks extra ox truck. Dunedin. Medium and good quality is slow of sale at £4 10s to £5 per ton, sacks extra, ox store. There is a fair demand for freshlypicked over potatoes at round about ±/4 10a per ton, sacks included, ex truck. Consignments are arriving from Canterbury, and the latest reports from there show that the market is a little firmer, quotations now ranging up to £4, f.0.b., s.i. are plenty of potatoes available, but growers arc reluctant to accept the prices, on offer, especially as neighbouring farmers secured much higher prices earlier in the season. The market for ryegrass has shown some animation during the week, in consequence of inquiries from overseas and the opera* tions of one or two exporters. Lines of djpgstail and fescue have been exported, and bo far as dogstail is concerned it has reached a price higher than has been ruling for some time. The dogstail is being sent to England, and the fescue to America. Cocksfoot is now in small supply, and higher prices are ruling. for New Zealand-grown in comparison with Danish seed, the growth from which is said to be of a less permanent character than that from New Zealand cocksfoot. Current wholesale prices for produce lines are as follow: Chaff, to £6 per ton. Potatoes, £4 10s to £4 15a per ton. Dairy Butter: Best milled, bulk. Is 3d to Is 4d per lb, according to quality; separator pats. Is 3d. Eggs: Stamped, Is sd; case, Is 4d. Bacon: Roll, Is 3d per lb. Hams, Is 3d per lb; boneless. Is 4d. Japanese onions, 24s per case of lewt; Canadians, 255. FRUIT REPORT. Business has been quiet in the fruit trade during the week. No overseas supplies of fruit have reached the market. Oranges are in short supply. The next shipment is on board the Manuka. _ Good samples of apoles have a fair demand. Small fruit is hard to quit. . Mandarins and lemons are not inquired for to any extent. Choice large-hearted lettuce meet a ready sale, but the prices for poorer quality are erratic. Parsnips, carrots, and beet have a fair inquiry. Fair-sized parcels of parsnips have been sent to the Auckland market. Spinach has a good inquiry. A few new season's potatoes have arrived from the Peninsula. These brought up to lid per lb. A small lot from Sawyers’ Bay, hothouse grown, was sold at Is 7d per lb. • . Current wholesale prices are as follow: Apples.—Delicious, choice, 10s; extra choice, 12s 6d to 14s: others, 5s to 6s; Stunners, 7s to 8s; small, 3s 6d to 4s fid per case; Democrats, 7s fid to Ss fid: cookers, 4a fid to fia fid. Oranges.—South Australian navels, 20s to 21s: largo size, 16s to 18s fid; Valencias, 18s to 20s. Mandarins, 18s to 225. Lemons: Australian, 10s to 12s; repacked, 20s. Bananas: Ripe, 30s per case. Rhubarb, 5d to fid per lb. Cabbages; Choice, 4s to 7s fid per sack of two dozen; others, 2s per sack. Cauliflowers, 7s fid to 0s per sack, containing a dozen (choice only) : others, 3s fid to 5s per sack. White turnips, la per dozen bunches. Parsnips, cases to 4s fid. Carrots: Cases to 4s fid; small bags, 4s to 4s fid. Potatoes, 6s fid per cwt. Swedes, 4s fid per cwt. Beetroot, Is to Is fid per dozen bundles. Leeks, 2d to 3d per bundle. Spring onions, 2Jd to 4d per bundle. Small, Is per dozen; choice, to 5s fid per dozen. DOMINION BUILDING SOCIETY. A public meeting in connection with the Dominion Building Society was held at Port Chalmers on Thursday evening, at which there was a fairly representative attendance. The chair was occupied by the Mayor (Mr T. Anderson), who welcomed the directors to Port Chalmers and thanked them for seeking to introduce the building society to Port Chalmers. Mr J. H. F. Hamel (chairman of the society). Messrs T. J. Hussey and J. Y. Love (directors), Mr R. Nichol (solicitor). and Mr D. Leslie (secretary) explained the workings of the society in detail. . . , , Those present v.ere invited to ask questions, and the various features of the society were freely discussed. A vote of thanks was accorded to the directors on the motion of Mr A. Cable, seconded by Mr Booth, and a vote ot thanks to the Mayor for presiding concluded the meeting.

Messrs Fraser and Co., agents for the Otago Egg Circle, report as under:—Egg Circle eggs Is sd, case eggs Is 4d. Tallow; Market firm from 21s to 265. Honey: Slow sale, prime bulk sd. undergrade 3id to 4d, 101 b tins 5s 6d, sections 9d to lOd. Butter : Bulk Is 3d to Is 4d per lb. Beeswax Is 3d per lb. Pigs: Market firm, good bacon weights 8R porkers lid to 8. V, o are agents for Pareora Moat Meal. We stock Star P. Chick Food, lucerne, meal, poultry meal, oats, maize, wheat, bran, and pollard,' Champion egg crates, log-rings Is per dozen (special quotes for quantities). Poultry: We held our usual sale on Wednesday at 1.30 p.m.. when we submitted a small yarding. Table poultry is scarce and prices are high. We sold as under: bite Leghorn hens 7s to 9s, heavy breeds 8s to 9s, well-grown cockerels 8s to 12s staggy from 4s to fis 6d. Ducklings 7s 6d to 8s 6d, ducks 6s to 6s 9d. geese 6s to 8s 6d pigeons Is 6d. All at per pair. Turkeys; Gobblers Is 2d and hens Is Id per lb live weight. . Consignors ploaso noto that P s £>s poultry must arrive not later than \V ed nesday morning of each week, vvo have a stock of poultry crates on hand for the use of our clients. LONDON MEAT MARKET. Messrs Dalcety and Co. (Ltd.) have received the following cablegram from their head office, dated September 23: Quotations are as follows for frozen meat.—New Zealand primo crossbred lamb, Cfeuiterbwy, light 9id, North Island

light Bid, Canterbury heavy_ Bid, North Island 7jd. New Zealand prime crossbred mutton, Canterbury light ojd, heavy North Island light 50d, heavy 6jd, good average quality crossbred mutton, Australian light 3 7-Bd. New Zealand prime ox beef hinds sd, fores 3jd. The market for New Zealand lamb is tending upwards and the demand runs principally on finest qualities. The market for New Zealand mutton is dull owing to lack of demand, which runs principally on heavy weights. The market for New_ Zealand beef is quiet and the demand is limited. The market for Australian lamb is weak. The market for Australian mutton is weak and the demand poor. DAIRY PRODUCE, Messrs Dalgety and Co. (Ltd.) have received the following cablegram from London, dated September 23 : The market for butter is slow. The market for cheese is quieter. Quotations are as follows; —Danish, 184 s to 185 s; New Zealand exceptional, 1665; Now Zealand finest, 163 sto 1655; Australian finest unsalted, 165 s to 1655; Australian finest salted, 161 sto 1635; Now Zealand cheese, coloured, 84s to 86s; New Zealand cheese, white, 85s to 87s, up to 88s 6d; Canadian cheese, coloured, 85s to 87s; Canadian cheese, white, 86s to 88s. The Otago Formers’ Co-operative Association of Now Zealand (Ltd.) has received the following cablegram from its London office ■ — The butter market is slow, and sales are difficult to effect, but. buyers’ stocks are low. New Zealand, 162 sto 161 s. The cheese market is aslow ; 85s to 87s. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) has received the following cablegram from its London office: — . Lamb.—The demand has increased, and values are advancing. The mutton and beef markets are weak. BPRING FAIR. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) _ hold its annual spring fair of horses in its Crawford street bazaar yesterday, when it offered to the public an entry of 70 horses. There was a good attendance of buyers from Otago and Canterbury districts, and the demand was good for young, fresh, sound sorts. Unfortunately, the entry, for the most part, was lacking in quality, with the exception of 10 or a dozen good sorts, and of those only a sprinkling were of extra good quality. The sale, however, although slow, was steady, and the greater part of the entry changed stables at satisfactory prices. Good geldings sold at to £53 and useful farm and tip-di;ay geldings made up to £43. No classy mares were forward. Old, stale sorts were hard to quit, but were sold at handy prices. Gooa hacks and harness horses changed hands at up to £lB 10s, but the aged of this class brought only reduced prices. OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, September 24. The past week has been a very dull one so far as the Oaraaru markets are concerned. It is what is known as the “off season” and merchants are confining themselves almost exclusively to supplying seeds, manures and other farm requisites. Oats have shown an inclination to bo weaker. Super A gartons have sold at 3s 6d per bushel on trucks, and feed Algerians at 3s Id. Oaten sheap chaff has sold at £5 per ton on trucks, but comparatively little is offering. Potatoes are dull of sale. A few sales have been made ex-store at prices that are equivalent to £3 5s per ton on trucks. Cowgrasa has found a market fid per There has been nothing doing in either wheat or barley. , The live stock market has shown almost os little movement as the cereal, although a considerable number of fat wethers arid lambs has gone to the Pareora Works. Fat wethers have sold at from 29s 6d to 33a fid. Fat bullocks have reached as high as £l6, but the ruling price is about.37s 6d per 1001 b The nominal price of heifer beef is 30s per 1001 b, and of cow beef 20s to 255. A few sales of dairy cattle have been made, and pigs, though sought after, are not in large supply. CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH, September 24. A. “kick” in potato values has developed. It has not been a particularly lusty effort, but it represents in the fortnight an advanco of from 10s to 15s a Xxio firm--

ing has several causes behind it. “Paper’ potatoes have finished up, and forward sellers had to find actual potatoes for the Kurow, which sailed for Auckland on Wednesday, sellers at the last minute having to scurry around to secure tubers. On account. of the additional space being provided, the Kurow took 9950 sacks, an amount 3000 more than was expected. Another clement in the firming was the improvement in the Sydney market. Consigned tubers by the Whangape arriving at the beginning of last week sold at £ll a ton, and this price was quoted in the market cablegram this morning. The Kurow’s 10,000 sacks for Auckland include 2000 for transshipment to the Islands, and as a proportion of seed was included the consignment would be speedily distributed on the bare market awaiting it. Up to £4, f.0.b., s.i. was paid for the fina} part of the Kurow’s cargo. The Kaiapoi is due to sail next mid-week, and £4 is offering for shipment by her, but sellers at this figure have disappeared. At the moment £4 5s is the basis of business. Values to farmers are £2 15s on trucks, at which figure there is a moderate amount of selling, though the bulk of the big holders are standing off for considerably more than this. The Wnitomo is duo to load next week for Sydney, and sales have been made by her at £5 10s, f.0.b., s.i., the equivalent to farmers being £3 10s on trucks. It is understood that her cargo will be a small one, about SCOO sacks. The oat market is weaker, and A’s are quoted at 4s 2d. f.0.b., s.i., and Bs at 3s

lid. There is pracically no inquiry. Chaff has been inquired for from the North Island. Values on trucks at the Canterbury stations range about £5 15s. Perennial ryegrass has been inquired for from England, a sale or two having been made at 5s 6d to 6s 9d for 27-281 b seed. The equivalent for farmers’ undressed seed on trucks is 3s 6d. Merchants are quoting 5s 9d for good weight seed. CANTERBURY FARMERS’ CO-OPERA-TIVE ASSOCIATION. ANNUAL MEETING OF SHAREHOLDERS. (Peb United Press Association.) TIMARU, September 24. At the annual meeting of shareholders of the Canterbury Farmers’ Co-operative Association to-day, the Chairman (Colonel K. Mackenzie said the trading profit for the year was £14,633, which was bettor than was expected considering the greatly reduced returns from _ wool, meat, and grain. It was not possible to pay a dividend on ordinary shares, but a dividend had been paid on preference shares. . Considerable improvement in the general finance of the association had been effected in that the responsibilities to the bank and the depositors showed a reduction ol £43.962, which, added to that of last year, made a saving on the two years of £92,500. Referring to the prospects of the coming season, he said these generally were quite encouraging. The only disturbing feature was the uncertainty of the prices of lamb and dairy produce. The farmers could not count in future on receiving higher prices than those ruling to-day, and if they were to get more revenue from the farms it must be by more production. lie advised them to adopt the slogan “more cultivation, more manure.” Ho advised the farmers to spend more time on their tractors and less on their motor cars. The retiring directors were rc-clcctcd.