THE BREADSTUFFS AND PRODUCE MARKET.

Otago Witness, Issue 2556, 11 March 1903, Page 17

THE BREADSTUFFS AND PRODUCE MARKET.

Tuesday. No business in new wheat is reported. It is assumed that the drop in the price of flour is a movo on the part of the millers to regulate the price of wheat, as they are still working on their old stocks. Current quotations remain at the same level — viz., 4s 2d on" trucks Canterbury for Tuscan, and 4s 3d to 4s 4d for velvet r But millers' do not feel disposed-to pay more than 4s. Oats remain' depressed in the "absence of any confirmation of the rumoured South African orders. Plenty of Danish for immediate delivery are offering at Is 8d on trucks (equivalent to Is 10£ d delivered), and offers of Is 7d would doubtless lead to business Thursday. Potatoes have been ooming forward slowly this week — probably owing to the activity in harvest operations farmers cannot find time to dig them. The ecarcity has firmed prices, and Oamarus are now worth from £3 15s to £4 per ton, but as soon ac further supplies are on the market prices are expected to recede. There is a good deal of new wheat now offering, but no sales are yet reported. Tusoan and Hunter's are quoted at 4e 3£d (f.0.b., Lytelton), but counter offers of 4s 2d have so far not led to business. The Christchurch Press reports :— "During the past few days a fairly large quantity of wheat has been on offer, chiefly Tuscan and Hunter's, and a number of lines have changed hands, local and Timaru millers being the principal buyers. The price generally paid has been 4s, country stations, but in a few cases over this figure has been given for immediate delivery. Among the lines reported to have been placed are 6000 bushels of Tuscan at 4s, 5000 bushels of Tuscan and 3000 bushels of Pearl at 4s, and 2000 bushels of Hunter'e at 4s lid, at country stations. Buyers have been chary of purchasing some of the stook-threshed lines of wheat, as sweating in the bags is feared; but ■some of the samples of grain threshed out of stook have come to hand in nice, hard condition." A factor which is likely to strengthen the Australian wheat market and exercise a firming tendency in New Zealand is the report that Adelaide millers are now thinking of importing wheat from the Argentine, thus admitting that Adelaide supplies are exhausted. It is also stated that no freights are procurable from tho Argentine until June. In Canterbury the New Zealand Flourmillers' Association have reduced the price of flour from £12 to £11 per ton, the price being 10s lower than in Dunedin. The oat market still shows eigns of weakness. Line 3of new Danish are offering at Is 6id, ou trucks, Canterbury. Friday. The market for new wheat can hardly be said to have yet opened, for although a few samples of North Otago wheat have been on offer they do not represent any quantity. Sales of small lincß of new velvet are reported at from 4s 2d to 4s 4d on trucks, but, being for millers who needed wheat for immediate use, they can hardly bo regarded as market quotations. The market for North Otago wheat is expected to fairly open next week, and tho impression is that opening prices will rule, for good milling lines, from 43 Id to 43 2d on trucks. Canterbury wheatr-Tuscan and Huntere— is quoted at 4s 3id f.o.b. Lyttelton, at which price it is reported that considerable business has been done with North Island mills. There has been no further reduction in the tariff of the New Zealand Flour Millers' Association, which stands as follows: £11 10s for sacks, £12 for 100's, £12 5s for 50' a, and £12 103 for 25's. The price for shipping is £11 f.o.b. Pollard, £6 10s; and bran, £5 per ton. It is understood tha* the free mills are selling at the same quotations. Owing to the arrival in Australia of a quantity of Indian bran and pollard, the market is weaker, and there is little or no demand for shipping. Old chick wheat is in short supply, and there is no new wheat yet available. Quotations remain nominally at un to 4s 2d, ex store. With the completion of the Australian orders for oats for immediate delivery, the shipping demand ha 3 fallen off, and the market is very quiet. It is said that tho low quotations for forward delivery have scared the Commonwealth buyers, who are now waiting for the market to bottom before operating. Good B grade tfor immediate delivery are offering at Is Il^d f.o.b. Lyttelton (sacks included), and lines of new Danish at Is 6£d on trucks Canterbury. It is hot expected that Southland oats will be on the market in any quantity until towards the end of April. The price of oatmeal has been reduced to £12 per ton, at which rate sales are being made. Owing to the demand for harvest labour around Oamaru it is impossible to obtain potato diggers, and consequently very few Tiotatoes have com© forward this week. This has temporarily firmed the market, and prime newly dug Oamaru kidneys are worth from £3 10s to £4 and Peninsulas £4 to £4 se. The advance is only regarded as a temporary one. Owing to a good inquiry from Australia the butter market is firmer, but at the same time not much business is doing. There is a, good quantity of stored butter -on hand, for which holders will take 10J4 to 102 d, bat Australian buyers want fre<*h makes at that nrire, and these- cannot be obtained under* lid. There is a feeling that tho business will corn© shortly. CheoAo keeps steady at lato rates. Local quotations for prime factory choose rule at 53d to 6d per lb. Dairy butter is firmer, and 7£d is now the Jowest £ric§» jfannere/ separator, B<i to IQd

jer lb. First grade factory butter is quoted •t lid for bulk and Is Id for pats. Eggs continue in very short supply for the time of year, and all forward are readily cleared at Is W per dozen. There is a feeling that egg 3 will see very high prices (his season. The price oE poultry is unchanged — viz. : llooeters, 3s 6d to 4s; hens. 2s to 2s 6d; ducks, 3s 6d to 4s; geese, ss. No turkeya in the market. Pigs keen very scarce, snd tho demand Is good. Baconers (up to 1601b), sid; overhreighta, 3ad to 4ad. Bacon is also scarce, and the market is Jrm at the following- quotations : —Prime tolla, Bid to 9d; hams, 9£d to lOd. Old oaten eheaf chaff is now offering at E4 to £4 ss. Saturday. For some few days past it has been quite x m the -boards that t&e friction now- existing \ ' netwcen the New- Zealand Flourmillers I Association and the free millers on the other j would lead to the cutting of prices in competition,, and the first move in this direction was made to-day (Saturday). According to trade custom, there is always a difference of 15s per ton between the prioa of flour in sacks and in 251b bag's; and yesterday the price of ,sacks stood at ££1 10s per ton and 25's _at_ £12 ss. It is understood that; the free milkrs, being refused orders by the majority of the bakers, actively oanvaseed the grocers and , storekeepers, and succeeded in securing a fair amount of their custom. This morning the association notified the grooers that their price for 25's was £11 10s, a drop of 15s. This reduction did not, however, apply to the price of sacks. The free millers promptly replied by dropping the- price of sacks to £10 15s and snaking their -price of 25's £11 10s. an nll- , round reduction of 15t*. It remains to be eeen what the next action of the association .will be. From the point of view of the public the situation stands as follows: A we?k ago tho price of flour was £13 per ton ; to-dar it is £10 15s— a drop of £2 ss. The bakers brought down the price of bread from 7jd to 7d per 41b loaf when flqur was reduced 30s per ton, and with this further drop in flour the bakers' position will be an awkward one. Business in new wheat — good milling lines — is reported at 4s 3£d f.o.b. Lyttelton, equivalent to 4s 6d at mill door Dun«din. Melbourne advices dated February E5 state: The weight of- importations, both arrived and to arrive, has had a quieting !m the local production. There has been ess inquiry for South Australian, values for - such receding here to a greater extent than in Adelaide, where stocks' are better held. In imported, attention has been directed chiefly to Argentine, trial millings having proved satisfactory; several parcels of choice .Californian have arrived via Sydney, and Ere,. reported as satisfactory, though the loss in transhipment was heavy. In the country, millers bought parcels of foreign (mostly 'Argentine and Californian) now on passage, lie result being that local farmers are offerIng more freely. Two small parcels of old Indian have arrived, and find ready sale for fowls'^ fa»3. Quotations: Victorian, 6s; South Au^ralian on spot, 6s Id ex wharf; Argentine, handy, 5s 3d ; choice Califorfc^ 0 * $*dy ehipmeutu 5a sd; Walla Wallae*

I fame position, 5= 4d; Indian (new crop), aiso earlr shipment, 5s l£d— all for parcels. Although the reported large orders for - oats for Sonth Africa lack confirmation, yet t American advices show that considerable i shipments^ of oats were made from New York to South Africa during the months of November and December last, and there can be little doubt that the demand still con- ! tinues, as South African buyers have recently been operating in Adelaide. Should there be any vessels coming here to load oats ' for South African ports, it may be taken for granted that tho cargoes have already been covered, for without some such guarantee no one would be foolish enough ' to bring boats here. It is o»6n to doubt, however, whether the present freights from New Zealand to South Africa will permit New Zealand shipper? to compete with America. Owing to competition between the : regular American line and the Prince Hinston line very low rates of freight are quoted between New York and South African port?. To Capetown and Algoa Bay 16s 3d is quoted for grain, and to East London and Nntal 13s 9d, or less thau one-half tho freights charged by the New Zealand direct subsidised service. Oats No. 2 white-clipped are quoted in New York at 374 cents, equal to about Is lid f.0.b.. or at existing low freights 2s 2£d c.i.f. South African ports. At the present time New Zealand shippers j could do business in good feed oats at Is lid -f.0.b., but the freight and charges would bring tho c.i.f. price up to about 2s Bd, or s£d above the American quotation. If, as is generally understood, the object of subsidising n service is in order to enable the producer to compete in the- world's markets, then in this respect, and in others, the present New Zealand direct service does not fulfil expectations. Monday. The New Zealand Flourmiller->' Association has made no further reduction in tho I price of flour, and their tariff still stands at £11 10s per ton for both sacks and 50's. The free millers' price is £10 15s per ton for sacks and £11 10s per ton for 50's. The executive of the Master Bakers' Association met this afternoon, but came to no decision with regard to the price of bread. _ The Wellington Master Bakers' Association have reduced the price of bread from 4d to 34d per 21b loaf. It is quite on the boards that a large cooperative bakery will shortly be started in Dunediu. THE FLOURMILLERS' ASSOCIATION. It may be remembered that some months f ago the Flourmillers' Association mooted a project to buy up and close down the two mills in Timaru and Duoedin, owned and run by Messr3 Evans and Co. (Limited), trading as the Atlas Milling Company. It was proposed tfiat each of the associated millers should contribute a proportion of the purchase money, they being reimbursed by an increased output of flour as the result of these two large mills closing down. The project fell through, owing^'to the unwillingness of some of the millers to take up their share of the purchase. We are informed that a new scheme is now on foot, which has every promise of success. A private syndicate, composed chiefly of Canterbury millers, have approached Mr W. i Ey&us .w.ith a viejv; to purchase bia tVfti

mills. It is stated that Mr Evans has ! definitely placed his mills in Timaru and j Dunedin under offer to this syndicate, the price mentioned being £33,000. It is stated I that a deposit of £1000 has been, or is about j to be, paid as a guarantee of good faith, j and the purchase is to be completed within I three months. One of the probable results j of this operation will be the closing down at an early date of Messrs Evans and Co.'s Crown Roller Mills in Manov place. It is rumoured that tho syndicate hope to recoup themselves in the following fashion. At the present time the Flourmillers' Association dispose of, in the aggregate, 60,000 tons of : flour annually, and it is estimated that the I purchase of these two mills will enable the association to net an average of 10s per ton more on the total output, and thus clear tho bulk of the purchase money within the first year. It is anticipated that as soon as tlm purchase is completed the remaining Timaru mills will come into line with the associa- | tion, and thus the Canterbury market will !bo completely controlled. In Dunedin, it is j asserted that the bakers are- pledged not to j purchase flour from non-associated mills, whilst Invercargill is to be a free port — that is to say, it wil l be used as a dumping ground for the surplus output of any of the j associated mills. It will thus be seen that | the- New Zealand Flourmillers' Association , have made fairly complete arrangements to • commence a new and successful campaign. J THE PRICE OF FLOUR AND BREAD. { AUCKLAND, March 5. j The Auckland mills have reduced the price : of flour 1c £12 5s per ton for sacks, in sympathy I with reduction in the south. Tho price of bread in Auckland was never raised above 7d the 4ib loaf, therefore no alteration in the price of bread will be made. ' THE MILLERS' COMBINE. IFeom Oue Own Correspondent.) OAMARU, March 6. It is stated hero *.hat the attempt to buy out Messrs Evans and Co.'s Timaru and Dunedin flourniills in the interest of the Millers' Association ha-s failed, one of the principal members of the syndicate having withdrawn.