COMMERCIAL

Southland Times, Issue 20633, 3 November 1928, Page 2

COMMERCIAL

DUNEDIN MARKETS, PECULIAR POSITION IN OATS. Dunedin, November 2. So far as the Otago district is concerned there is practically no wheat now held in growers’ hands. A considerable quantity of wheat how’ever coming from the Canterbury district shows the effects of severe weather conditions which prevailed at the last harvest. The value, in Dunedin, of fowl wheat is 5/10 to 6/- per bushel, sacks extra, ex truck- Forward buying of wheat for next season has quietened down. Most of the wheat in the Otago district has now been sold. The oat market is in a peculiar position. Fairly large quantities are still held in stores, but most of these oats came in heavily at the beginning of the season. These oats are being held as present ' prices do not permit of them being sold at a profit by the holders. It is understood that several forward sellers have to meet their commitments to this firm, November and December delivery and that they are experiencing difficulty in securing oats to fulfil their obligations. The position has now developed into a tug of war between the firm and forward sellers. The firm appears to have the advantage as it has created something of a corner and there are not many free oats about of the quality which the forward sellers have to deliver. Prices have now firmed and sales of A Gartons are reported at 4/2 f.0.b., s.i. The chaff market is short of supplies and sales are being made at up to £6 per ton, sacks extra, ex truck. The demand however is not keen and it will not take many consignments to cause a decline in values. Most of the supplies from this district are still being drawn from Canterbury where farmers are prepared to sell cheaper than the holders of chaff in the Otago district. Stocks of old potatoes have now got into a short compass in the South Island. The shipping market to the North Island has practically ceased but a fairly large quantity is still held there. These have been selling at £lO per ton, ex wharf, which is equivalent to £8 f.o.b. Owing to the shortness in the South bland, however, prices are still maintained at round about £ll per ton. sacks included, ex truck, for good quality. The market is quiet for all varieties of seeds and deliveries to the retail trade are not large owing to the weather conditions preventing farmers from sowing stocks. All varieties are on the light side with the exception of crested dogstail. The Kawatiri from Sydney brought a moderate supply of citrus fruit, principally oranges. The quality of the fruit could have been improved. A few cases of choice quality apples are reaching the market. Fairly large supplies of poor grade apples are also arriving, but these are hard to place. Pears are still arriving from Canterbury cool stores. The fruit is mostly on the small side. Supplies of hothouse tomatoes were light at the beginning of the week. Prices in the northern town ruled high and were in fact above those obtainable in Dunedin. Towards the end of the week consignments increased from Christchurch, prices there having apparently eased. TUATAPERE STOCK SALE. The Invercargill stock agents held a sale in the local yards on Thursday, October 25. The yardings were small, but fair average

prices ruled. The following stock, etc. was offered: Young pigs, 15/- each: sow and litter £3 5/-; cows (dry) £8 7/6, £7, £6; heifer (in calf) £lO 5/-; one pen yearling heifers £3 16/- per head; heifers £7 10/£6. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, November 2. Sales on ’Change: War Loan (1938) 4| per cent. £99 10/-; War Loan (1939) 4$ per cent. £99 10/-; Commercial Bank of Australia 30/4; National Bank of New Zealand £7; Bank of New South Wales £5l 15/-; Bank of New Zealand 61/6; New Zealand Insurance 46/3; South British Insurance 63/6; Renown Collieries 16/-; Auckland Gas 23/1; British Tobacco 44/-; New Zealand Refrigerating (cont.) 9/2; Wilson’s Cement 40/-; Waihi 13/-; Mount Lyell 36/9. Wellington, November 2. Sales reported: 5j per cent. Stock (1933) £lOl 5/-; National Insurance 17/-; New Zealand Insurance 46/-; Wilson’s Cement 40/11 and 40/3; New Zealand Breweries 55/-. Christchurch, November 2. Sales on ’Change: Bank of New Zealand 61/4 (2 parcels), 61/5; New Zealand Refrigerating (10/- paid) 9/2, 9/3, 9/2; Christchurch Gas (10/- paid) 12/7, 12/8; New Zealand Breweries 55/-; British Tobacco 44/4 (2 parcels); Electrolytic Zinc (ord.), 33/6 (3 parcels) ; Mahakipawa 1/4, 1/5 (3 parcels); Ward’s Brewery 42/6. Sales reported: National Bank of Australasia (£lO paid, cum. div.) £l9 6/6; New Zealand Refrigerating (10/- paid), 9/2 (2 parcels); New Zealand Breweries 55/(3 parcels). Dunedin, November 2. Sales on ’Change: National Bank £7 1/6; New Zealand Insurance 45/9 (two).