COMMERCIAL.

Otago Witness, Issue 1905, 25 May 1888, Page 18

COMMERCIAL.

Writing of the European grain markets, the Miller (England), at the close of the month of March, remarks : — " April, May, and June are not months in which wheat often advances its quotations, except, indeed, under the influence of disastrous weather on the sources of supply. Present conviction appears to be that the value will keep where it is, or fall yet Is to 2s per quarter on wheat, and 6d to Is per sack on flour when spring navigation is resumed. Crop prospects as regard wheat both at Home and abroad are undecided enough to warrant caution. Millers and others may easily allow their stocks to run low and find weather influences strong enough to put up wheat in summer 5s per quarter. Otherwise, weather and politics failing to side with sellers, there are good promises of future supplies at present rates, since when farmers at Home fail to deliver Australian, Chilian, and Indian wheat as well as Russian may be confidently ex-

pected. In Russia the winter, which was mild up to February, has been increasing in rigour since then. There are stated to be good stores of wheat, rye, and oats in Northern Russia, but we must probably wait a couple of months before they can be got in motion. In the south of Russia, Azima wheat is fully supported in value. In Germany, because of spowfall and interruptions of railway traffic, there was a rise in wheat on Berlin market of Is 6d per quarter From India we learn that crop prospects are satisfactory but that the amount <sf speculation in new wheat is singularly small. It is not anticipated that spring shipments in May and June will be at all heavy." A San Francisco exchange of April 7, writing of malting and other kinds of barley, says : — 11 Recent rains are supposed to have offset the bad effects of the previous north winds, and the market has relapsed to an easy condition. It must be pretty fine and bright feed to bring our top quotation. At the same time it should be stated that the market is not overbrirthened with this class of stock For brewing barley of the better grade there w fair local custom, without any change in quotations. There is demand for standard quality Chevalier, but it cannot be met. Recent purchases of 500 tons for Australia have drained the market of all first-class products. We quote : Feed, good to choice, 75 to 77Jc ; common, 70 to 72c ; brewing, 90 to 97£0 ", Chevalier, good to choice, Idol 20c, to Idol 30c ; common, 85 to 95c per cental. Messrs Dalgety and Company (Limited) have received the following cablegram from their head office, dated London, 18th May :—": — " As compared with closing rates of last London wool sales, prices obtained in Antwerp are id to id higher." There was a large attendance at the sale of stock, &c, at Kurow on Friday, on account of the New Zealand and Australian Land Company. Messrs William Christie and Co. (in conjunction with Messrs Wright, Stephenson, and Go., Messrs Reid, Maclean, and Co., and Messrs D. Heid and Co.) were | the auctioneers, aud good prices were realised throughout the sale. Fourteen thousand seven hundred and thirty-eight sheep, the cattle, horses, implements, &c, as well as 607 acres of land, were offered. The sheep sold as follows, the majority being quarterbrtd: — 135 sheep in wool, 8s ; 2329 twotooth ewes, 6s 9d; 91 ewes and wethers, 6s 9d; 9138 four-tooth ewes, 6s 8d ; 1770 six-tooth ewes, 6» Id ; 306 four, six, and eight tooth ewes, 6s ; 1206 six and eight tooth ewes, 5s 4d ; 598 full-mouthed ewes, 3s 6d ; 398 merino ewes. 3s 6d ; 70 ewe and wether lambs, 4sßd; 760 wether lambs, 4s 7d ; 833 ewe lambs, ■is 'id ; 854 ewe and wether lambs, 3s 4d. A number of light horses were sold at up to £11. The land was withdrawn at £7 per acre, that being the highest bid, but we understand the auctioneers have. received a higher offer for it, and it is probable a sale will be effected. During the past few weeks there has been some inquiry for suburban land around Dunedin suitable lor subdivision, and it is generally believed that there is a good deal of capital likely to be invested ia landed property here if terms can be arranged. gJAt the annual meeting of the Northern B.S. Company,at Auckland on Friday, the report showed a losi of £660 10s on the year's business. The directors recommended Captain M'Gregor's retirement from the management, and the appointment of atraffio manager instead. A motion to wind; up the company's affairs was lost by a large majority. The New Zealand Loan and Mercantile Agency Company, have received the following telegram from their London office, dated 18th mit. :— " Tallow : There is little demand. Frozen meat : Market steady ; quotations unchanged since we last telegraphed. For lambs the market is quiet ; New Zealand lambs are worth per carcase 6£d per lb. The following appears in the Lyttelton Times :—: — " Considerable activity is displayed just now as regards the removal of certain goods from bond ia anticipation of the Financial Statement. As an illustration of this, it may be stated that one firm alone, Messrs Nelson, Moate, and Co., have paid during the present month over £4000 to clear tea from bond valued at from £25,000 to £30,000." The Mutual Agency Company have received advices from London, dated 6th April, of Ahe sale of InchOlutha cheese ex Tongariro, as follows:— SM, 40 oases, at 56b per cwt ; L, 58 cases, at 55a per cwt. The company's manager adds : — " If the shipping companies would content themselves with |d freight— say (with primage) £5 2s 8d per ton— this new trade with London would develop into a steady source of wealth to the colony, but the rates recently charged is simply a case of ' killing the goose that lavs the golden egg,' " There have been numerous inquiries of late for suburban sections suitable for "cutting up," so thab we may shortly expect a brisk demand for township land. One block of 20 acres near town has just beeu snapped up by speculators in the expectation of a rise in values. Landed property generally is now the investment sought after, and foreign money is already in the market for its purchase. COMMERCIAL TELEGRAMS. V Sydney, May 17. Oats are 2s Ml to 2s 2d ; Tartarian seed oats, 2s 2d ; bran, lOJd ; pollard, lOd to lOjd ; maize, 2s 5d to 2i 6d; New Zealand potatoes, 60s to 555; Victorian potatoes, 455; locally-made butter, Is 4d to Is6d; best imported butter, Is to Is Id j good second-class butter, Od to lOd; cheese, 6d; loaf-size, 7d ; bacon, 9d to 9£d ; hams, Is to Is Id. Brisbane, May 17. Maize, 2s 5d ; onions. £o 10s ; potatoes, £3 17s 6d to £4 17b 6d ; chaff, £3 to £3 ss. Mklboubne, May 17. Wheat, 3s 4£d ; flour (stone-made), £7 5s j oats, 2s Id; stout, 2s 10d; maize, 3s 3£d; bran, lid. HORSE MARKET. Weight, Stephenson, and Co. report as follows :—: — For last Saturday's sale about 50 horses came forward, chiofiy town and dealers' lots, of whioh a fair number changed hands at quotatioue. We sold one draft from Edendale on account of Mr David Drever at prices ranging from £14 to £19. We quote iirst-class young heavy draughts at from £23 to £27 ; medium do, £10 to £15 ; first-class hacks and light harness hones at from £15 to £20 ; medium do. £(i to £10 ; Indian remounts, £8 to £12 ; light and weedy, £1 10s to £3. N.B.— Our next saleof horses will be held on Monday, May 28, at the Provincial Yards, GRAIN AND SEED REPORT. Messrs Sajluel Orb. and Co., Stafford street, report for the week ending May 16 as follows :— Wheat.— The demand for this cereal during the past -week has not been a lively one, and transaction! are on a limited ica'e indeed, and what business has transpired has only been for tip-top quality, of which there is but little about. Large quantities are going into rtore ; but the principal of it is of medium and inferior quality, and what, is going to be done with it is a mystery, n^ id is out of all proportion in comparison to former years. We quote prime milling Tuscan or velvet up to 3s 2d; red straw, 3s 3d; medium (nominal), 2s (3d to 2s lOd ; fowl feed, la 84 f»2s6d. Oats.— The demand lately reported by us has Borne* what subsided, as ndviceßfrom Melbourne are any- 1 thing but encouraging. Consequently speculators are chary bf s> ( "'ng in for any new to hold, whllft freight by steamerlins advanced, all of course tending to keep prices here flown and retarding business. Shipments from the South to Melbourne are still large, so that no i">piovement can be expected from there for a little time Notwithstanding all these drawbacks, we sold iluri g the week : For J. Anderson, Wai* era. at lsScl; T. O. Bishop. Hillend.la 9d; U. Bealtie, K"lso. Is 9d ; J. F. Herbert. Is lOd; W, Christie, Toiro, If. Sid ; D. M'Gouggan, Heriot.ls 9d. V/e quote prime milling up to is 9d ; short heavy bright, feed. Is h\l to is B£d; aparrowbills, if clean and bright, Is B£d t<> Is 9d ; ordinary feed; Is 7dto li 7£d ; dark and discoloured. Is 6<i to Is 6£d. Bar cv- Still in demand, though if anything maltsters are inclined to " easeoff ,"and prices lately quoted are moru difiieult to procura. We quota prime malting: up to 4s 6d; medium, 4s to 4s id; feed and milling. 2s 6d and 4s respectively. Our 6alf-s of all classes of grain for the week reach the totafquanMty of 39.590 bushels. Grass - ced.— We sold a parcel of 100 sacks ryegraes during the week, but prices are without improvement. »nd but Hi b'p business snay be anticipated in either this or cocksfoot til* sprnig, though by then prices for the latter nrmv be firmer. - : ~. N.B.— lheae prices are all " off truck*," and not-

withstanding many adverse statements of selling In this manner, they have in past years been invariably the best. We would also point out an erroneous idea held by many with regard to private sidings being the cheapest to 6end grain into. This is a mistake, as holders of sidings charge the full terminal rate as if it came to the station , so that the farmer gets no benefit. When it comes to the station it can be delivered anywhere for the same charge, which purchasers who are shipping give the preference to as it saves them cartage.