THE WHEAT MARKET.

Poverty Bay Herald, Volume XXXVI, Issue 11872, 9 June 1909, Page 7

THE WHEAT MARKET.

(Per Prees Association.) DUNKDIX, last night. In consequence of a telegram from Auckland with reference to the position of the wheat market, predicting a great rise, m the near future, a Daily Times reporter made extensive inquiries among those most intimate!}' engaged m the trade to see what degree of truth was cohUiined m the telegram. The essential point of this was that m proportion to the present price of wheat, the rate at which flour was selling was unremunerative to manufacturers, and it was said by*a northern Iniller that the Auckland pice of Hour should be at least £13, m place of £12 10s. A leading miller said the shipping price of the Now Zealand FloUrmillers' Association was £10 10s f.0.b., Isfs 2£ per cent, discount. To get the Auckland price you must add the Cost of freight (&s) and •wharfage (Is 6d). Thus Southern flour can be landed m Auckland at £11 0 s 6cl on. the wharf, and from this you deduct 2£ per cent, discount, leaving tlfe price to the Auckland bakers £10 1.6s, ■■/ A Soiitliern miller ltas even sold to:; Auckland at £10 15s delivered into the bake- ' If the Auckland miller sells to bakers at £12 10s 3 you must ask him what discount lie allows. The position is that the Auckland bakers calculate jjjfeltfc price of bread on the price of flour %ki ; £12 10s per tpn but they don't pay :Sii»|. Tliey get bag discounts. \ When the Auckland bakers can get the very best 'Southern flour landed at their doors for £10 15a, it stands to reason they will not pay £12 10s for it. There is a mill m Auckland which poses as the working man's friend, but which is really working hand m glove with the bakers. It ke&ps the price nominally high, and allows heavy trade discount*. By threatening the bakers to reduce the price of flour, and thus cause them to reduce the price of bread to the public, it continues to do business, . but at rates which are really on the Southern basis. The miller expressed the opinion that the visit of Australians tp buy up surplus wheat was unlikely. ' ; ' .■■, : .-.-