DUNEDIN MARKETS

Otago Daily Times, Issue 22504, 23 February 1935, Page 8

DUNEDIN MARKETS

WHEAT, OATS, ETC. Threshing is now in full swing in all the wheatgrowing districts. It is interesting to note that the samples from the south are of excellent quality and that no difficulty is experienced' in selling these lines to millers. As a matter of fact, millers are this season showing a preference for southern-grown wheat, as the quality, from their point of view, ia much better than that of the northern-grown, the dry weather conditions in the great majority of instances affecting the grain from the latter quarter. Reports from all districts in Otago and Canterbury go to show that the yields will be lower than had been anticipated, and in view of this fact all wheat up to standard will be required for millers’ requirements.

This position will create a shortage of fowl wheat, the market for which is firm with supplies difficult to obtain. The nominal value locally for fowl wheat is 4s fid per bushel, sacks extra, ex truck, with higher prices being obtained for smaller lots. The shipping market _is firm, and 4s 3Jd, sacks extra, is being asked for prompt shipment from Canterbury ports. The advanced prices for milling wheat are on a basis of 4s, f.0.b., for Tuscan. 4s 2d for Hunters, and 4s 4d for Velvet. The break in the weather at the end of the week will no doubt cause an easing in deliveries of wheat to millers, and give them an opportunity of clearing up accumulations in the sidings. Millers’ prices for flour, etc., are as follows: " Flour: 2001 b, £l3 2s; 100’s, £l3 7s; 50 s, £l3 12s; 25’s, £l3 17s. Bran, £5 per ton. Pollard, £0 5s per ton. Oatmeal: 2001 b, £l9; 25’s, £2l. The oat market continues firm, but there are few inquiries from the North Island, showing that the consumptive demand there is still on the small side. Growers in the South Island have high ideas ot values, and with the lessened quantity that will be available values should be main* tained. The threshing so far earned on in this district shows that the oats will be much lighter in weight than has been the case for a number of years, and there will therefore be lower_ yields. The pres-ent-value of A Gavtons is 2s fid per bushel, sacks extra, on trucks, with B s ruling at 3d less. The samples coming m also indicate that there will be more B s aval able than A’s. The colour is up to hut the weight per bushel is under A grade, which is based on a minimum ot 411 bto the bushel. The bulk of the samples which have reached the market weigh from 381 b to 401 b per bushel. On the above prices merchants wnl require to obtain 2s lid, f.od)., s.wfor As and 2s Bd, f.0.b., s.i., for B’e. These are the prices now being asked for delivery, April-September, but buyers are not piepared to meet the market. . Millers are carrying over fairly heavy stocks from last season, and are not showing much inclination to operate. In sympathy with the oat market the chaff market continues firm, with supplies difficult to obtain. In the chattcutting districts most of the farmers are busy harvesting and are unable co devote time to supplying chaff. The market is firm at £4 15s per ton, sacks extra, ex truck, for prime quality, with os . more obtainable for delivery ex . the store. There appear to be ample stocks ot potatoes available for the local market, the demand for which at this time of the year is only from hand to mouth. Sales are hard to make, but if digging is delayed by the break in the weather the situation may be improved. As regards the main crop, prices for later delivery have eased, the general quotation now being £5 10s per ton, f.0.b., s.i., MayJune, with buyers not prepared to Operate. The demand from the North Island for seeds eased off during the week, but with the further rains experienced there it is anticipated that more buying may take place. The buying by North Island tins year has had the effect of firming the markets, as, the demand came when merchants %vere bare of stocks, considerable quantities having been exported overseas. As a result of the short supply higher prices have been paid in the wholesale market for ryegrass, and this has led merchants to advance their offers to farmers. The quality ot the ryegrass coming to hand is very good, and 3s per bushel, sacks extra, on trucks, is being offered for clean lines, The cocksfoot market is firm, and certified and plains’ •seeds have -advanced, 3d per lb. -The ruling wholesale quotation to : day is ls .4d for certified and Is 3d for plains. There, is a fair amount of white clover on offer. The season has been favourable to the saving of this seed, and good returns are expected in Canterbury, Otago, and Southland. Values have moved up slightly in sympathy with those obtaining for other seeds, but merchants are not keen to operate on account of the excellent returns of white clover seed. Some sales of fescue have been made at high prices, but until merchants can secure overseas business they are chary of buying extensively at the current values. Sales of machine-dressed chewings fescue have been made at -2s to 2s 3d. Wholesale produce prices are as follows: — Chaff: Good, bright oaten sheaf, to £6 per ton, ex store. Dairy butter; Milled bulk, 8d per lb; separator, Bd. Bacon, Is OJd. Ham: Ordinary, Is Id; boneless, Is 3d per lb. Canterbury onions, up to 11s per cwt. Eggs: Stamped, to Is 3d; case, Is Id. FRUIT REPORT. Supplies of stone fruit have -eased off considerably and payable prices to growers are now being obtained for deliveries. The northern markets continue satisfactory for stone fruit, and many of the Otago growers are sending consignments away from the Dunedin 1 market. The tomato market was also much firmer towards the end of the week. Reports from Christchurch state that many of the growers are almost finished with their crops for the season. The hot, dry weather has brought supplies on all at once and it has also stopped the growth of the tomatoes on the hills. There is little demand for small and soft tomatoes. Bon Chretien pears have a better demand. Nectarines were realising good values early in the week, but supplies then increased and the market eased. A shipment of Samoan bananas arrived yesterday ex the Maui Pomare, transhipped at Lyttelton. The fruit arrived in perfect condition and was quickly taken up. The local price was fixed at 24s per case. Reports from Rarotonga state that the banana crop has been practically ruined by the recent huricane and that only a small shipment will be bn board the Maunganui. After that it is not expected that there will be any supplies of Rarotongan bananas for at least six months. A shipment of Californian oranges, lemons, and grape fruit is expected to arrive towards the end of next week. The market is well supplied with Jamaican oranges and grapefruit. Plums are still offering freely with low prices ruling. Freestone peaches are in full supply, Muir’s and EJberta’s being the principal varieties on offer. A few gold dust peaches arrived from Central Otago during the week, and the arrival of this variety indicates that the stone fruit season will soon be over. Greengages have a better demand. Cox’s orange pippins are in full supply from Nelson and the market is easier. Some lines are showing signs of bitter pit and these have to Be placed at low rates to clear. Cabbages and cauliflowers are bringing good prices. Beans and peas have a better demand. Marrows and cucumbers are in over supply. Carrots, parsnips, and swedes are in fair supply and have a nominal demand. Whojcaale prices are as follows: Bon Chretien pears, 4s to 6s per bushel; others. 3s to 4s. Nectarines. 2s to 3s fid per case. Oranges; Jamaican. 22s to 26s per case; Californian navels. 36s to 40s. Apples; Gravensteins, 4s to 6s per bushel case; Cox’s Orange pippins, 5s to 7s; cookers, 4s to ss. Greengages: Choice, 2s fid to 3s fid per case. Lemons: Californian, to 45s per case; New Zealand-grown, 15s to 20s. Peaches: Cases, 2s to 3s; crates, 2d to 3d per lb. Apricots, 21d to 3Jd per lb; cases, 2s fid to 4s. Plums: Dessert, 2s to 2s fid per case; jam, to Is fid. Tomatoes: Choice, 14d to 2d per lb; others. Is fid to 2s per case. Cauliflowers: Choice, 5s to fis per sack. Carrots, to Is per dozen bunches. Spring cabbages, 4s to 5s fid per bag. Green peas: Choice, l}d to 21d per lb. Cucumbers, Is to Is fid per case. White turnips, to Is per dozen bunches. Rhubarb, to Id per lb.

New Potatoes: Locally-grown, fis to 7s P er cwt - , French and runner beans, I3U to 2a per lb. , BANK OF ENGLAND RETURN (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. February 21. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue in circulation .. Bank department .. .. • • 79,238,08 a £452,444,539 Government debt .. Other Government securities '2i0,6^5,1- 4 Other securities „ °?o,813 Silver coin 2,443,803 Gold coin and bullion .. .• 192,444,039 £452,444,539 BANKING DEPARTMENT. Proprietors’ capital £14,553,000 Rest 3,657,204 Public deposits , 26,304,211 Other deposits {bankers) .. 826,18Other accounts .. ••. • • • • 40,900,223 SeVen-day and other bills .. . £180,240,820 Government securities .. .. £81,599,256 Discount ’advances 6,997,552 Securities .. ..' 11,839,290 Notes in reserve ._ 79,238,080 Gold and silver coin .. .. 566,637 £180,240,820 The proportion of reserve to liabilities is 49.20 per cent. Short loans are quoted at 8 per cent.; three months’ bills at 5-16 per cent. LONDON METAL MARKET (United Press Association.) "(By Electric Telegraph—Copyright.) i LONDON, February 21. (Received Feb. 22. at 10 p.m.) The following are the official metal Quotations:—

LONDON STOCK EXCHANGE (United Press Association.) * (By Electric Telegraph—Copyright.) LONDON, February 21. The following are tho latest quotatlona of Government securities compared with the prices ruling last week:— Last week. This week.

LONDON MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 21. Wheat cargoes are lower. Parcels are quiet. Futures: London —February, 19s 10Jd; April, 19a 9d; June, 20a 6Jd. Liverpool—March, 4s 7|d; May, 4g lid; July, 6b l|d. The spot trade is, slow. Australian, ex ship, 24s 9d to 25s fid. Flour is firm. Australian, ex store, 18s fid to 19s. Oats are quiet. Peas and beans are unchanged. MELBOURNE MARKETS (United Press Association.) / (By Electric Telegraph—Copyright.) MELBOURNE, February 22. Wheat, 2s lljd. Flour, £B. -T Bran, £4 15s. Pollard, £5. ■ Oats, 2s 5d to 2s fid. Barley: English, 2s 9d to 2s lOd. Maize, 2s 6d ; to 2s 7d. Potatoes, £8 'los to £9 10s. Onions, £8 5s to £8 10s. BULOLO SHARES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 21. Bulolo shares are quoted at £7 3s 9d. NEW GUINEA GOLD SHARES (United Press Association.) (By Electric Telegraph-Copyright.) /LONDON, February 21. New Guinea Gold shares are quoted at 4s 6id. MOUNT LYELL SHARES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 21. Mount Lyell shares are quoted at 13s 9d. ■ . 1 • . BUTTER AND CHEESE (United Press Association.) (By Electric Telegraph—Copyright ) LONDON, February 21. Butter is dull. Danish. 110 s; choicest salted New Zealand and Australian, both 84s to 85s; unsalted New Zealand, 91s; Australian, 90s to 925. Cheese is quiet. New Zealand coloured, 47s fid to 48s; Australian, both 455. Messrs A. S. Paterson and Co., Ltd., are in receipt of the following cabled advice from London:— Butter: Market dull; easier. New Zealand, 84s; Australian, 83s; Danish, 89s. Landed cost, 110 s. Cheese; Market slow. White cheese, 47s Od; coloured, 475. Messrs Dalgety and Co. advise having received the following cablegram from their head office, London, dated February 21:— The butter market is weaker. The cheese market is slow. Danish butter, f.0.b., 925; New Zealand finest butter, 84s to 85s: Australian finest unsalted butter. 88a to 90s: salted butter, 83s to 81s; G.A.Q.. Slsto 82s. Australian cheese: White 17s, coloured 46s fid; New Zealand, white 47s fid to 48s, coloured 47s to 47s Gd; Canadian, white 58s to 625, coloured 5Ss to 625; c.i.f., not quoted. 1

Copper, (pot .. Ton. £27 3 1% Itlse £0 0 Vk Copper, forward .. 27 8 VA Fall 0 2 0 Electrolytic, «pot., SO 7 a Fall 0 2 e Electrolytic, forward 30 10 0 Fall 0 2 0 Wire bari «. .. 30 10 0 Fall 0 2 0 Lead, spot .. .. 10 8 0 No change Lead, forward .. 10 S 9 , No change Speller, spot .. 11 16 0 frail 0 1 3 Spelter, forward .. 11 18 9 Pall 0 1 3 Tin, spot ., 227 7 6 Fall 1 11 3 Tin, forward 224 2 0 Fall 0 10 0 Pis iron, home trade 8 7 0 No change PI* Iron, capon S 2 0 No change Antimony, British 77 10 0 No change Antimony, foreign 60 10 0 No change Molybdenite CnlL 1 14 6 No change Wolfram .. 1 18 0 No change Sliver, standard .. Oa. 25 3-16d Rise l-16d Silver, fine .. .. 27 S-lCd Rise l-10d

£ 8. d. £ a. d. Consoli ,, •• 00 0 0 80 0 0 Funding Loan, 4 p.o., 1809-00 118 15 0 118 10 0 Assented War v Loan .. .. 107 15 0 100 i’o 0 Conrerilon Loan, 3V4 'p.o. .. 110 0 0 115 0 0 Victory Bonds, 4 p.o. (ei dl».) no 0 0 109 0 0 C'wealth, 9 p.o„ 1945-75 ... in 15 0 111 15 0 C'wealtb, 6 P.c„ 1935-45 .. 103 3 0 103 0 0 C'wealth, 4 p.c„ 1045-48 .. 108 2 G 105 13 0 C'wealth, S7i p.c„ 1848-63 104 0 0 103 5 0 C’wealth, 3% p.c.. 1038-37 .. 103 0 0 102 1 3 N.8.W.. 3 p.o., 1035 .. .. 102 5 0 102 3 0 N.S.W.. 3% p.o., 1930-50 .. 100 2 0 100 0 0 N.S.W., 4Vi P.O*. 1035-46 .. 101 0 3 101 3 9 N.S.W., 6 p.c., 1036-65 .. 103 13 9 103 15 0 Victoria, 3 p.c., 1929*40 •• 90 12 c 08 5 0 Victoria, 4% p.c.. 1040-80 .. 100 0 0 10G 0 0 Victoria, 6 p.o*. 1845-T5 .. 110.10 0 111 5 0 Queensland, 8 p.o., 1832-47 .. 80 2 8 98 0 0 Queensland, 6 p.o., 1040-80 .. 108 17 < '108 12 6 8.A.. S p.o.. 1810 (opt) .. 02 0 0 90 0 0 S.A., 5 p.c.. 1045-75 i. .. 110 0 0 111 10 0 W.A., 8 p.c., 1915-35 .. .. 101 0 0 101 0 0 W.A., 4 P.O.. 1042-02 .. .. 103 17 c 103 15 0 Tasmania. 3Vi P.c.. 1920-40 .. 101 10 0 101 5 0 Tasmania. 4 p.c., 1040-60 ,. 104 0 0 '103 10 6 Now Zealand, 4Vi p.o,, 1048-58 109 15 0 109 18 9 New Zealand. 3V4 P.o., 1940 104 6 0 104 2 6 New Zealand. 8 p.c., 1045 .; 101 10 0 101 13 9 New Zealand. 6 p.o,, 1038-61 106 13 0 105 18 3