OTAGO PRODUCE MARKETS

Southland Times, Issue 22999, 19 September 1936, Page 4

OTAGO PRODUCE MARKETS

Business Quiet In

Wheat WEAKER DEMAND FOR CHAFF (United Press Association.) Dunedin, September 18. Business continues quiet in the wheat markets, consequent on few lines being on offer from growers. Now and again a line of milling quality comes on the market, and where it is up to the required standard, there is no difficulty in placing it, as a few millers have not yet secured their full requirements. The fowl wheat market remains firm, and it is anticipated that higher values will be ruling from now onwards. This anticipation is based on the fact that next season’s crops are expected to be below New Zealand’s requirements and that importations of wheat will be ruling at high values. The weather has prevented farmers from getting their ground ready for sowing, and from now onwards they will need to plant early maturing wheat. This has caused a better demand for the Jumbuck variety. The present value of fowl wheat is 4/9 to 4/10 a bushel, sacks extra, ex truck, and up to 5/-, ex store, is being asked for good quality. There is not a great deal of this wheat available. The oat market is unaltered, with A Gartons worth 3/4 to 3/5, f.o.b.s.i. There are a few inquiries from the North Island and only, small lots are being shipped to that quarter. Stocks in stores are on the light side, and most of the seed will be wanted for seed purposes. Only an occasional offer is being submitted from the country. Supplies May be Scarce.

Supplies of chaff are equal. to the demand and the market has, if anything, a weaker tendency, as prices in Canterbury are lower than were being quoted earlier. It-is expected that with spring work coming on farmers will not be inclined to cut chaff and that it will be more difficult to secure supplies. Best quality is worth £4 10/- a ton, sacks extra, ex truck, and for lots ex stores the quotation is £5. A third shipment of potatoes has left Canterbury for South America. This shipment amounted to 750 tons, making a total of 4000 tons exported to South America. Inquiries for shipment to the North Island were being received at this port, but during the past few days the demand has fallen off. Freshly picked lines have been sold at £5 a ton, sacks included. There is a fair quantity of potatoes held in the stores, but these require picking over before it can be sold. The seed markets are quiet but firm. There has been an absence of export business during the past two or three weeks, but merchants consider that during October and November there will be an inquiry from overseas for ryegrass, cowgrass and white clover.. A considerably increased area is being sown down throughout the South Island. Merchants have ample stocks for retail orders, and, in the meantime, are not prepared to buy any further. Fruit Report. The market is again bare of South Australian oranges, and there will be no further supplies until the arrival ot the Waitaki, which is due on Tuesday week from Melbourne. Poorman oranges are offering freely and are meeting a fair demand only. A further shipment of Samoan bananas arrived during the week, being transhipped at Auckland ex the Poti Waikato. Another shipment is on board the Wingatui, which is due to-morrow. The next shipment by the Maui Pomaie will not arrive until Tuesday week. The quality of the bananas is excellent. The condition of most lines of apples reaching the market is unsatisfactory, and the returns must be disappointing to growers. Many of the lines have been held too long by growers, despite the fact that good prices were ruling a few weeks ago. Cooking apples have a better inquiry. New Zealand-grown lemons, are . in good supply and the market is easier. A shipment of Californian lemons arrived during the week and had a good inquiry, but Californian grapes, which came to hand at the same, time, were in excess of demand and shippers will be disappointed with their returns.

Potatoes Ease Tn

Price

CANTERBURY PRODUCE MARKETS (United Press Association.) Christchurch, September 18. Potatoes have come back about 10/a ton since the high levels were reached in the middle of the week. A further shipment to South America has been the main support of the market, but there has also been a healthy demand from Auckland, where stocks appear to be short and where there is some desire to cover requirements till the Pukekohe crop comes in about the end of next month. The Auckland market was at one stage rather excited and good business was done from here. All the space in two boats for next week has now been taken and this has been the main reason for the slackening in price as buyers will not commit themselves far ahead. Quotations were wide to-day, but nominally whites are worth £5 15/- a ton on trucks and Dakotas £6 5/-. Graded fowl wheat meets a spasmodic demand and the price remains steady. Undergrade has a fair demand, though there is more offering. Prices range up to 4/5 f.o.b. for the best. A weakness in the Blenheim market for chaff has been followed by a weakness here, and though prices have not slipped further, rhe outlook is not encouraging. Oats are meeting a fair inquiry at up to 2/10 for Gartons and 2/4 for Algerians. The weather has held up operations in the country and spring planting is not proceeding as it should. There is a fair inquiry for small seeds, but drier weather is needed to allow the spring demand to develop fully.

MINING RETURNS GILLESPIE’S BEACH. ANNUAL REPORT. The annual report of the Gillespie’s Beach Gold Dredging Company, Ltd., which will be submitted to the shareholders at the annual meeting to be held on October 9, states: — At the end of April, the chairman, after a visit to the claim, reported the dredge to be in a bad state, and a heavy overhaul necessary. This overhaul was conducted by Mr George Pettigrew, who, at this time, superseded Mr Donald Sutherland as dredge manager. The work was very comprehensive, including new top and bottom tumbler, reconditioning and strengthening the shaker and new plates in same, while the bulk of bearings and distri-

bution boxes, races and other table accessories, sparge pipes, etc., were renewed. Mr Pettigrew deserves considerable credit for this work, which the directors recognize. The above-men-tioned work was costly, and added to by the all-round increase in prices for all iron work and dredge supplies. The dredge recommenced operations on July 6, and has been running steadily since. The gold returns during the year under review amounted to 1699.30 z of the value of £13,592 4/7. Export duty of £lO6O 18/3 was paid to the Government Since June 30 the gold returns have largely increased, and augur well for the future success of the claim. As the new award for dredgemen has not yet been made, it is impossible to gauge what effect, in extra costs, the recent Government legislation will have on the company. Transport to the claim has been, and still is, a difficult and expensive problem, and considerably affects, not only the running costs, but the expense and worry during overhaul work. In fact, transport is dependent entirely on weather conditions, which during the last few months have been very bad. However, shareholders will be pleased to learn that the Government has consented to make a road to the claim. The directors have promised a contrjbution of £650, while the Westland County Council is also contributing £250. This expenditure is more than justified, and will be saved directly in a short time by reduced and normal transport charges, and also indirectly by increased facilities to directors, shareholders, and to the general welfare of the crew. Since the end of the financial year the directors have paid to the Public Works Department the afore-mentioned contribution of £650, and it is expected that the road will be started before the end of the present month. It is with very deep regret that the directors record the death during the year of Mr Vernon Smith, who was a director of the company since its formation. His place has been filled by Mr W. D. Lambert. They also deplore the death of Mr John Williamson, a valuable employee of the company since its inception. Mr J. Fowell. the former chairman of directors, is resigning from the board, as he is now resident in Auckland, and the directors propose to nominate Mr J. M. Stewart to fill the vacancy. As there are very few shareholders who hold the necessary qualification to act as directors, it has been considered advisable to reduce this from 5000 shares £250) to 3000 shares (£150) by special resolution, which will be submitted to the annual meeting. KING SOLOMON RETURN. The return at the King Solomon mine this week was 260 z 2dwt for five days’ work. GOVERNMENT SECURITIES (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, September 17. Following are the latest quotations 'for Government securities, compared with the prices ruling last week: — Sept. 10 Sept. 17

RIELBOURNE PRODUCE MARKETS

(United Press Assn.—Telegraph Copyright.)

Melbourne, September 18. Produce is quoted as follows:— Wheat.—s/o'/ 4 a bushel. Flour.—£l2 5/- a ton. Bran.—£s 15/- a ton. Pollard.—£6 a ton. Oats. —2/4 a bushel. Barley.— English, 3/3 to 3/4 a bushel. Maize. —5/2 to 5/3 a bushel. Potatoes—£7 5/- to £8 a ton. Onions.—£l6 a ton.

£ s d £ s d British — Consuls 85 0 0 85 0 0 Funding Loan, 4 p.c. 118 15 0 118 16 3 War Loan, 3>,i p.c. 107 5 0 107 10 0 Con. Loan, 3’,'2 p.c. .107 5 0 107 10 0 Victory Bonds 4 p.c. 115 0 0 115 6 3 Commonwealth — 5 p.c., 1945-75 111 15 9 111 0 0 3 p.c., 1955-58 102 2 G 102 5 0 4 p.c., 1943-48 106 7 6 104 16 3 3% p.c., 1948-53 104 1 3 104 o 0 3',4 p.c., 1936-37 99 7 6 99 17 6 3‘4 p.c., 1956-60 95 10 0 94 8 9 New South Wales— 3’/ 2 p.c., 1930-50 101 10 0 101 13 9 4’,2 p.C., 1935-45 99 17 6 100 0 0 Victoria— 3 p.c., 1929-40 99 5 0 99 5 0 4% p.c., 1940-60 106 5 0 106 10 0 5 p.c., 1945-75 111 11 3 111 15 0 3 p.c., 1922-47 99 2 6 99 12 6 Queensland— 5 p.c., 1940-60 107 7 6 107 8 9 South Australia— 3 p.c., 1916 or after 88 15 0 88 11 3 3 p.c., 1945-75 111 8 9 111 10 0 4 p.c., 1942-62 103 7 6 103 11 3 Western Australia — 103 11 3 Tasmania — 3'/ 2 p.c., 1920-40 102 10 0 102 13 9 4 p.c., 1940-50 102 13 9 103 1 3 New Zealand— 4 j ,2 p.c., 1948-50 107 1 3 107 8 9 3’/ a p.c., 1940 102 12 9 102 18 9 4 p.c., 1945 100 2 6 100 10 6