TRADE IN PRODUCE

Sun (Auckland), Volume III, Issue 671, 24 May 1929, Page 10

TRADE IN PRODUCE

POTATO MARKET FIRMER FI-RST OF' NEW MAIZE Sun Office. 9 a.m. An acute shortage of potatoes has been one of the features in spot grain, seed and produce circles over the week. With the Pukekohe crop practically exhausted, and shipments from the South well behind schedule, all available stocks of potatoes on the spot have been cleaned up during the past day or so, some merchants have been hard put to find supplies sufficient for immediate requirements. The market, as a result, has a decidedly firmer tone. The W aipiata and Kaituna, which arrive today, bring a total of approximately 9.000 sacks from the South, which should relieve the situation. It is hardly likely that the easy market of a fortnight ago will rule for some time, however, and prices from now on should be based on the Southern parity. Xext week's through merchants’ stores quotations should range from 8s to Ss 6d a cwt. During the past few days best local tubers have been bringing those prices in the marts. The general feeling among me,r----j chants is that bedrock has been reached I fur the time being, although it is not expected that any big rise will take 1 place over the next month or so. Onion Market Weak An unexpectedly large surplus of , onions in the South has upset all Auckland merchants’ calculations regarding the onion market. Despite the fact that sellers have been able to ssnd approximately 15,000 tons of onions over to the Australian market, there is apparently a big surplus down there. Regular consignments are coming forward to Auckland, and the j spot market, as a result, is very weak 1 and with through store quotations down as low as 8s a cwt. for besi duality onions. Little is heard about the stocks oi local onions still reported to be helc in Pukekohe. G.rowers there are apparently holding till the Southerr ; supply shows signs off giving out. Maize Stocks Low Maize has been causing anxiety in I d uar tcrs, and supplies of the ! old season’s grain are difficult to secure i anything like reasonable prices. Up to 7s a bushel has been paid for small Parcels on the wharf over the past ‘lay or so and 7s 3d a bushel is the general through store price at the moment. ** held in some quarters that firm prices will rule for some months, and it is certainly true that forward quotations for new season’s maize ex tl>* .Gisborne wharf have been raised during the week owing to speculators fearing that the recent floods down that way will have damaced the new crop, any talk about a iaiiod of high prices for maize is of£talk of an early marketing/or' ] If 1 ? Bay , o£ Plenty crop. Some of ! Is already available, and yesterday an Auckland merchant was asked j *° “ ak f an ? ITer for a line of SO sacks available tor immediate delivery ! A sample indicated that the line was i T r °f ra ? lins in small parcels to I vv aikdto storekeepers. Acute Shortage of Pollard j Stocks of pollard have sunk to withi n a very small compass, and merchants I finding difficulty in meeting or- ! Owing to an exceptionally heavy demand millers are only able to supply I ,;ia r *?, on a quota basis, the millers are importing to help relieve the situation. The Kativefv n,° ni Ad ? la ide has a comparativelj large shipment on board, but sli? ' essel »s running well behind other U IS a n wIU not be here anothei 14 days or so. As if to furac ®entuate the position, the Australian price has been advanced during the past week. The spot market for both oats and wheat shows little change, although wheat has eased slightly ’in the South over the past week. B Garton oats a f e , °?® red , through store, Auckland, at 4s 5d a bushel. The chaff market at the moment has a very firm tone, and, although Auckland through store quotations remain £9 10s at the moment, bouth Island quotations indicate a rise ot os a ton next month. BANK OF ENGLAND RETURN (United, P.A.—By Telegraph—Copyright J R ®? d - 9- sa -m. LONDON, Thursday. ieturn- IOW rl “ * S the Bank of England Issue Department .Votes issued in circulation .. 362,363.744 lii bank department 59 626 718 Government debt 11,015 000 Other Government securities 236,233*874 Other securities 7 922 728 Silver coin .4^828*298 Amount of fiduciary issue . . 260,000,000 Gold, coin and bullion . . . . 161,990,492 Banking Department Proprietors’ capital 14,553,000 5 e K. • • * * - - 3,225,457 Public deposits 25,299 74S [Other deposits, bankers .. .. 57*507*302 Other accounts 25 314*698 Seven-day and other bills .. * 5*331 Government securities .. .. 38,486*855 Other securities, discounts, advances 5 915 678 Securities 20;i19;450 J; 0 . 1 ® 5 •• •• 59,626,718 Gold and silver coin 756,805 The proportion of reserves to liabilities is 55.80 per cent. Short loans are quoted at 41 per cent., and three months’ bills at 5 5-16 per cent.