CITY TRADING

Southland Times, Issue 23838, 8 June 1939, Page 3

CITY TRADING

BUSINESS QUIET ON PRODUCE MARKETS MOST OF WHEAT MILLING TAKEN UP By OUR COMMERCIAL EDITOR Wednesday evening. Business on the Invercargill produce markets is very quiet at present, but this is not unusual for this time of year. The only activity during the past week has been in browntop and potatoes. Oats.—The position has not altered during the week. The demand for both milling and shipping has been very quiet. The local mills seem almost to have satisfied their requirements and are taking only the choicest of lines. This market would have receded further had it not been for the fact that the merchants found an outlet in Canterbury millers for good, sound, heavy undergrade oats at prices about 2/- to 2/1, o.t.c.s. It is thought that the market for Dun oats has become too high at 4/- a bushel for heavyweight lines because racing men in the North Island have turned their attention to good Gartons as they are considerably cheaper. Wheat.—Most of the milling lines have now been taken up and the quality of the wheat offering today is not of. the best. Practically the whole of the crop on the coastal regions has been affected by frost. There is an over supply on the local market and until merchants find an outlet in the north through the Wheat Committee they are not keen to operate. Chaff.—There is very little outlet and the local market is over supplied. The merchants are not keen to store the chaff and the nominal quotation today for good, bright quality is £3 10/- a ton. Ryegrass.—Merchants’ machines are busy dressing lines on account of growers, but merchants will not buy until the machine-dressed test is available., Browntop.—The value to growers has improved and machine-dressed seed is now worth 1/3 for certified and Id less for uncertified. Potatoes.—The yields of the crops are not turning out at all well and there is a bigger proportion of seed potatoes than usual. The average yield for table potatoes in the Western District will not be more than four to five tons an acre. As high as £9 10/- a ton, 0.t.c.5., is being paid for King Edwards, with Arran Chiefs about £1 a ton less. THE FRUIT MARKET Supplies of apples are still coming forward steadily to the Invercargill fruit marts and there has been no change in the demand or in the prices obtained. A small quantity of Jamaican oranges is still on offer, but . this will be cleared before the next arrivals in a fortnight’s time. Bananas are very scarce and a shipment is due tomorrow ex the Maui Pomare. Lemons are again scarce. Another shipment is expected at the end of this week and thereafter it is understood there will be a regular supply. The vegetable market is unchanged and high prices are ruling.

The wholesale prices are:— Apples.—Delicious 6/- to 9/- a case, according to grade; Jonathan 5/6 to 10/6 a case; cookers 4/6 to 6/6 a case; Stunners 6/- to 10/- a case. Quinces. —2/- to 4/- a case. Pears.—2/6 to 3/6 a box. Pumpkins.—2|d to 3d per lb. Marrows. —3Jd per. lb. Carrots and parsnips.—6/- to 7/- a bag. Leeks.—4/- to 5/- a dozen. Cabbages.—6/6 a sack. Lettuce.—2/- to 3/- a dozen. Swedes.—2/- a sugar bag. Jam melons. —to 2d per lb. Cauliflowers.—lo/6 to 12/6 a sack. Grapes.—to 2/9 per lb. RANGE OF PRICES Wholesale , Bran. —£6 a ton. Butter.—First grade, 1/4J. Oatmeal.—2s’s £25/10/- a ton; 200’s £23/10/- a ton. Pollard.—loo’s £7/10/- a ton; 150’s £7/5/- a ton. Flour.—2oo’s £l3/15/6 a ton; 100’: £l4/12/6 a ton, 50’s £l4/17/6 a ton; 25’s £l5/17/6 a ton. Retail Bran. —7/6 per 1001 b. Butter.—l/6|. Oatmeal. —s’s 1/8; 25 s 7/9. Flour. —25’s 4/6; 50’s 8/6; 100’s 16/-. Pollard.—9/- per 1001 b. x Onions.—3lb for 1/-. Potatoes (local).—2d per lb. EGG PRICES Egg prices were quoted today at from 1/10 to 2/1 a dozen wholesale and 2/2 to 2/3 a dozen retail. Country prices Id a dozen less. SEPARATOR BUTTER The wholesale price for separator butter ranges from 1/- to 1/1. The retail price is 1/3. THE BUTTER MARKET PRICES FIRM IN LONDON (Received June 7, 6.30 p.m.) • LONDON, June 6. The butter market is firm. Quotations. —Choicest salted New Zealand, 116/- to 117/-; choicest salted Australian, 114/- to 115/-; unsalted New Zealand, 117/- to 118/-; unsalted Australian, 115/- to 116/-. BRITISH EXCHEQUER RETURNS . (British-Official Wireless) (Received June 7, 6.30 p.m.) RUGBY, June 6. The Exchequer returns show that the total ordinary revenue amounts to £104,917,148, compared with £99,653,737 at the corresponding date last year. The total expenditure, less selfbalancing items, is £214,148,653 compared with £169,809,827 at the corres.ponding date in 1938. COMPANY NEWS WOOLWORTHS LTD. (United Press Association) WELLINGTON, June 7. Woolworths (New Zealand) Ltd. has declared an interim dividend of five per cent. Woolworths Properties has declared a half-yearly dividend of six per cent, on preferred ordinary capital. Both are payable on July 15. THE WOOL MARKET NO CHANGE AT SYDNEY (Received June 7, 10.30 p.m.) SYDNEY, June 7. At the wool sales 7979 bales were offered and 6380 were sold, also 2335 privately. The market showed no change. Greasy Merino made up to 16|d.