CANTERBURY MARKETS

Southland Times, Issue 24153, 15 June 1940, Page 3

CANTERBURY MARKETS

OUTLET FOR POTATOES WANTED (United Press Association) r CHRISTCHURCH, June 14. Business in the grain and produce markets continues to be quiet, with no alterations in prices. Interest in pota—toes quickened after the announcement that Australia would be taking 5000 tons from the Dominion, but it has since lapsed somewhat in the absence of a confirmatory statement from the New Zealand Government. Sellers increased their quotation, but there did not appear to be any material response and values remain about the same at £2/10/- to £2/15/-, on trucks. Actually it appears from crop reports that the export of 5000 tons of potatoes this season would make little difference to the market values. In the opinion of many merchants the Dominion will have more like 20,000 tons of potatoes to spare and if an export market for a large quantity is not found the prospects for growers will not be very encouraging. The actual buying orders from the North. Island are very few, most of the shipments being consignments and since there are only about three months left of the period in which potatoes are normally shipped away there would seem to be no possibility of a large part of the crop finding an outlet there. Chances of a market in South America have been , discussed, but most merchants are inclined to rule this out because of high freights and ‘ other difficulties. It has also been suggested that the Government might make an arrangement to supply potatoes to Australia in return for wheat, but according to a statement made by the Minister of Marketing (the Hon. W. Nash) nothing has been done about this. It would seem that the only chance of clearing the potato crop would be the unconditional removal of the Australian embargo and since the embargo appears to be purely and simply political, the chances of its removal are at the very best not bright at the present.

STOCK INDICES (Received June 14, 6.30 p.m.) LONDON, June 13. Stock Indices Compiled by The Financial Times October 15, 1926 100

NEW YORK Dow Jones Averages 1926 100

GOVERNMENT ORDERS FOR WOOL LITTLE CIVILIAN TRADE AT BRADFORD LONDON, June 13. According to a Bradford message there is little business in yarns for the civilian trade at recent rates. Spinners’ rates are unchanged. Government orders continue to demand a considerable amount of overtime, overshadowing all other considerations. THE METAL MARKET (Received June 14, 6.30 p.m.) LONDON, June 13. Silver.—Standard 23%d an ounce, fine 25%d. Pig Iron.—£s/11/- a ton. Antimony.—British £lO6 to £lO7, foreign £B2 to £B7. Tin. —Spot, £289/15/- buyers, £2BB/5/sellers; forward, £289/15/- buyers, £290 sellers. Molybdenite.—4s/6 to 47/6 a unit (nominal). Wolfram.—so/6 to 60/6 (nominal).

Govt. SecuriHome IndusGold ties Rails trials mines May 23 109.2 45.0 85.4 179.0 May 24 108.9 44.1 84.6 178.3 May 27 109.3 43.0 84.1 177.0 May 28 108.6 41.6 81.9 171.7 May 30 109.5 40.0 78.5 165.9 June 3 109.6 38.1 77.0 165.1 June 4 109.4 37.7 76.5 164.0 June 5 109.0 37.7 76.5 162.9 June G 108.7 37.6 75.9 159.7 June 10 108.8 38.2 77.6 162.3 June 11 108.9 38.3 77.0 159.8 June 12 108.9 39.2 77.2 161.8 June 13 108.8 38.8 67.8 160.3

20 Railroads. ' 30 Indus trials. Sales 1000 shares. May 25 22.76 114.75 550 May 27 23.32 116.35 790 May 28 22.82 114.26 1260 June 1 23.05 115.67 270 June 4 23.35 115.79 410 Ju: ■ 5 22.94 113.25 670 June 6 23.09 114.8 430 June 8 23.79 115.36 200 June 11 23.73 115.97 760 June 12 25.20 121.46 1360