PRODUCE VALUES

Sun (Auckland), Volume 1, Issue 16, 9 April 1927, Page 15

PRODUCE VALUES

THE MARKETS REVIEWED MAIZE FIRMER "With the passing week has come a distinct hardening in maize values, with every prospect of merchants finding themselves short stocked during the winter months. Bay of Plenty stocks are almost exhausted, and, for tiie little held in Gisborne, sellers there keep well ahead of the Auckland parity, and little business results. A shipment of Java maize is expected to arrive via Sydney next week, and this should work out at approximately 7s 2d c.i.f. Auckland. Buyers are now prepared to exceed that, however, and from 7s 6d to 7s 8d is offered on the wharf, Auckland, for coast consignments. Shipping and other difficulties preventing a guarantee of the arrival of early shipments are standing in the way of merchants looking to {South Africa to supplement supplies. Chaff is firm at late quotations, and good stocks arc held locally. With a fluctuating tendency, the oat market is firm, many farmers in the {South apparently holding for higher values. Ample stocks are held locally, however, and there appears little likelihood of any sudden advance in the near future; 2s 9d to 3s is asked f.o.b. for South Island parcels. A better demand is registered for Algerians for autumn sowing. The South is still being drawn on for potatoes, the wet weather preventing local farmers from prosecuting digging operations. Values are fluctuating, and merchants at present are adopting a hand-to-mouth policy, buying only in small quantities. Onions are over-supplied, and meeting with a dull demand at low prices. For April-May-June delivery, fowl wheat is quoted at 5s 5d in the South, and ample supplies are reported to be available. With the ideal weather conditions ruling, a better demand has been registered for grass seeds for autumn sowings, though prices remain well below last year’s autumn quotations. Fertilisers are selling freely, and though one or two more shipments of basic are expected in the near future, there is everv likelihood that the demand will exceed the supply, and stocks will be short in the winter. Supers are also meeting with a ready sale. PRICES TO THE CONSUMER. Retail prices asked by the merchants are as follow: Chafe. —Blenheim, £9 10s to £10: Canterbury, .£ 9 to CIO; local, £S. Oats. —Gar tons, 4s to 4s 3d; Algerians, Australian 5s 9d, Southern 5s 6d. 0 __ Maize. —8s 3d to 8s bd. Fowl Wheat. —7s bd. Potatoes.—Ss to 9s cwt. Fertilisers. —Basic slag. £4 12s bci, super. £4 2s 6d; basic super, £3 l<s bd; f’o.b. in every case.

increased capital A decision authorising a new issue of*loo,ooo ordinary shares of £2O each. £5 paid up. was arrived at at a special meeting of shareholders of Dalgety and Co., held on Thursday, according to a London cable message. The new shares are to be offered to the company’s shareholders early in May in the ratio of one to every two existing ordinary shares held, exclusive of fractions. The present capital of the company is £1,000.000 in ordinary shares paid to £5 and £500,000 in 5 per cent, preference shares, fully paid. For the last three years the dividend on ordinary shares has been 17 per cent. At June 30 the company had £2.475,454 irredeemable debentures and £503.992 terminable debentures. The reserve fund stands at £1,000,000, invested mostly in Government securities and undistributed profits amount to £ 211,412.