CITY TRADING

Southland Times, Issue 24181, 18 July 1940, Page 3

CITY TRADING

EXCESSIVE MOISTURE IN WHEAT CONTROLLER TO VISIT SOUTHLAND By OUR COMMERCIAL EDITOR Merchants and wheat growers in Southland are awaiting an early visit by the Wheat Controller (Mr R. McPherson) to., discuss the position of large quantities of Southland-grown wheat which have a higher moisture content than is permissible for acceptance for milling purposes. These lines have been lying in store for some time. Much of the wheat is within 2 per cent, of the standard fixed by the Wheat Committee.

Oats.—Practically all the oats which has been threshed this season has now passed through merchants’ hands. Most of the lines have been railed direct from the country sidings to millers. Apart from the spring . seed requirements in store, stocks are now very low. Values are nominally 3/7 a bushel for A grade and 3/4 for B grade. Wheat.—The prices of milling wheat f.o.b. Bluff for this month are 5/9 a bushel for Tuscan varieties, 5/11 for Hunters and 6/1 for Velvet. There still remains a large quantity of wheat in merchants’ stores awaiting some solution of the difficulty of Excessive moisture content. There are also some similar lines in the country. The Wheat Controller and the Wheat Committee’s chemist are expected to visit Southland at the beginning of next week, when it is hoped that some definite arrangement will be made. In the meantime the Wheat Committee’s grader will be in Invercargill for a few days from today to sample such lines as are available. Fowl wheat is dull of sale because of the heavy stocks of wheat held in store. The value to growers is nominally 4/9 a bushel o.t.c.s. , Chaff.—Business in chaff is very small. The value to growers is £5 a ton at which price ample supplies are available.

Ryegrass.—The market for ryegrass is dull as is usual at this season of the year. Good germinating lines of ma-chine-dressed seed, however, remain firm at the same rates as before.

Other seeds.—Very little interest is being shown now for fescue, browntop and other small seeds. There is practically no overseas outlet.

Potatoes.—This crop is exceedingly dull of sale and the future outlook seems to be very poor. In the absence of shipping inquiry merchants are showing no interest and the only business being done is of a hand-to-mouth nature for the supply of the local market. The variety most in demand is King Edward. ORANGE SUPPLIES The market is bear of oranges and the next shipment is eagerly awaited by the trade. Lemons are in short supply at present, but a consignment of New Zealand-grown lemons may be expected to arrive shortly. Small lots of marmalade oranges are coming forward. As these have to be despatched by rail, prices are being maintained at a higher level than they would be in an ordinary season.

1 Only a small shipment of apples has arrived during the week. Present stocks are very low and there is no prospect of immediate relief. Prices were advanced by the Marketing Department from 6d to l/~ and a further rise can be expected in the near future. Cool store stocks of pears are being used up rapidly and if the demand continues to be supplied as at present the season for pears can be expected to finish within the next few weeks. Bananas are selling readily in spite of the cold weather and there should be no difficulty in clearing the current shipment well in advance of the arrival of the next shipment early next month. The' vegetable market is unchanged, although supplies of root crops show signs of diminishing. Wholesale prices are: Apples, from 7/6 to 9/6 a case. Pears, 6/6 a box. Marmalade oranges, to 18/- a case. Cauliflowers, 4/6 to 7/- a sack. Cabbages, 3/6 to 5/6 a sack. Pumpinks to IJd per lb. Carrots to IJd per lb. Parsnips to 2d per lb. Swedes 1/6 to 1/9 a sugar bag. Jam melons appear to be finished for the season. RANGE OF PRICES Wholesale Bran: £6 a ton. Butter: First grade, 1/4|. Oatmeal: 25’s £29/14/— a ton; 200’s £27/14/-. Pollard: 100’s £7/10/- a ton; 150’s £7/5/- a ton. Flour: 200’s £l3/15/6 a ton; 100’s £l4/12/6 a ton; 50’s £l4/17/6 a ton; 25’s £l5/17/6 a ton. Retail Butter: 1/6. Bran: 7/6 per 1001 b. Oatmeal: s’s 2/-; 25’s 8/9. Flour: 25’s 4/6; 50’s 8/6: 100’s 16/-. Pollard: 9/- per 1001 b. EGG PRICES Egg prices were quoted yesterday as follows: First grade, 1/4 to 1/9 wholesale and 1/6 to 2/- retail. There appeared a wide difference in some of the values quoted, and indications were given that there would be a fall in prices. SEPARATOR BUTTER Separator butter was quoted yesterday at lOd and 1/1 wholesale and 1/1 to 1/4 retail according to quality. The prices of eggs and separator butter vary from day to day. The prices quoted were those ruling yesterday. STOCK INDICES (Received July 17, 6.30 p.m.) , LONDON. July 16. Stock Indices Compiled by The Financial Times

NEW YORK Dow Jone, Averages

October 15. 1926 „ 100 Govt. Securities Home Rails Industrials Gold mines June 27 106.5 32.2 63.7 136.6 June 29 106.4 32.8 66.9 138.0 July 1 107.1 33.8 69.4 137.0 July 3 108.5 35.3' 72.0 135.3 July 9 109.0 36.6 72.9 138.9 July 10 108.8 36.1 71.8 137.5 July 11 108.7 36.0 72.2 136.7 July 12 108.7 35.7 72.0 135.7 July 15 108.7 35.7 72.1 135.7 July 16 108.7 35.8 72.2 136.8

1926 20 Railroads. _ 100 30. Industrials. Sales 1000 shares June 18 25:63 123.21 720 June 22 25.56 122.83 200 June 26 25,19 119.73 630 June 29 26.15 122.06 1170 July 3 25.84 120.96 380 Ju'v 10 25.99 121.49 280 July 14 25.05 121.48 120 July 15 26.10 121.72 230 July 16 26.33 123.12 440