COMMERCIAL

Otago Witness, Issue 2103, 14 June 1894, Page 24

COMMERCIAL

The Commercial Union Assurance Company (Limited) of London have made arrangements whereby the business of the Economic Fire Office (now in liquidation) is to be transferred to them. Mr R. B. Bennett, agent for Messrs Henry S. Fitter and Sons, has received the following cablegram from London, dated June 5 : — " Canterbury mutton, 4d to 4Jd ; lamb, 4Jd to sid ; Wellington mutton, 3id to 4d ; lamb, 4Jd to 4|d ; Australian sheep, 2Jd to 2|d ; beef— hinds 2fd to 3d, fores 2d to 2}d."

Referring to our suggestion that the wheat crop f last season will not do much more than supply our annual requirements, the Lyttelton Times cays : — "We cannot, however, accept the| official estimate of nearly 8£ bushels per head of population for the year's requirements as accurate. The usually accepted estimate of 5£ bushels per head for purposes of consumption affords a, better basis of calculation, and at this rate the year's food requirements would be 3,905,000 bushels. Probably not more than 200,000 acres will be sown with wheat this season, and at two bushels per acre this would absorb 400,000 bushels, making our total domestic requirements 4,305,000 bushels, which, deducted from the year's production and the stock brought forward— together 5,449,002 bushels —leaves a surplus of 1,144,002 bushels. Much of the last two years' production is, no doubt, of inferior quality, but modern milling machinery is capable of turniDg out a marketable flour from very indifferent wheat, and with shipments on a very limited scale we see no danger of a shortness of supplies, though in all probability prime samples, from their scarcity, will |command a higher price than is at present current. Properties of a marketable nature have been moving off briskly of late down Wyndham way, and Mr Raymond reports the sale of the following :— Mr Ballantyne's Mokoreta farm (250 acres), to Mr John M'Laren, at £750, cash ; Messrs Allan md Purvis's Mimihau farm (266 acres), for £2060, ii c Messrs -G. W. Harman and R. Shields; Mr Robertson's Peninsula farm (175 acres), for £1226, to Mr D. Doull ; Mr Horman's Menzies Ferry farm (57 acres), to Mr John Stinson, for £650 ; Mr R. Shields's farm for £140 to Mr T. Shields ; and Mr O'Brien's farm, sections 18, 19, and 20, block 111, Menzies Ferry, for £100, to Mr James M'Clinchey. — Gore Standard.

Mr G. S. Jakins has received advice from his London agents that his first shipment this year of Belfast butter, per the s.'s. Gothic, has been sold in London at the same rate as the best Danish. The butter was sent Home in the vessel's freezing chamber, and it is the first time that the New Zealand butter has donimanded equal values with the Danish. This is good news to the colony, and shows that if the proper method of shipment is adopted there is no doubt as to the success of our well- made factory butter in the Homemarket. — Chrißtchurch Press.