COMMERCIAL.

Sun (Christchurch), Volume I, Issue 204, 2 October 1914, Page 8

COMMERCIAL.

UNITED KINGDOM'S REVENUE, By Cable. — Press Association. — Copyright. " (Received October 2, 8.55 a.m.) *k LONDON, October 1. I. The revenue of the United Kingdom for the quarter was £35,681,283, the Customs contributing £8,337,000, excise £8,298,000, and stamps £1,885,000. (Received October 2, 8.55 a.m.) LONDON 1 , October 1. . Wheat: The American visible supply is 84,518,000 bushels. AUSTRALIAN PRODUCE MARKETS. SYDNEY, October 1. Oats, Algerian feed 3/-, milling 3/to 3/2, Tasmanian 3/4; barley, English 3/3, Cape feed 3/- to 3/3; maize 3/10 to 4/-; bran and pollard £6; potatoes, Tasmanian £6 15/-; onions, Victorian £l2, picklers £3 10/- to £4; butter,-select-ed 104/-, secondary 05/- to 98/-; cheese 7d to 7*d; bacon 9d to 9Jd. ADELAIDE, "October 1," Wheat, 4/7; flour, £lO 10/-; bran and pollard, 1/6. MELBOURNE, October 1. Hides —There was a full supply, and the market was firm at unchanged ' rates. (Received October 2,10.40 a.m.) PERTH, October 1. The Government has fixed the price of wheat at 4/6 per bushel. __/ ~.',-, MELBOURNE, October *T Wheat (official price), 4/9; flour, £lO 10/-; oats, 2/11 to 3/1*; barjey, English v , 3/6 to 4/3, Capels/1A; maize 3/11; bran r " £6 15/-; pollard £7; potatoes to £5 5/-; onions to £ll 10/-. VICTORIAN CUSTOMS. The Customs revenue for the quarter increased by £382,000. THE PRODUCE TRADE. A cessation of business so far as wheat is concerned has taken place in the trade, due to the action of the Government in regulating the price of flour and wheat. Generally merchants accept the position philosophically, agreeing that in times of crisis such 'as the present, it is an iniquitous thing to unduly inflate the price of the staple / "~ articles of food. As wheat is fixed at • 4/9, f.0.b., it means that the merchants are not.disposed to give more than 4/6 at country stations, in fact when railage to Lyttelton, with all the other incidental charges, are taken into account, it is doubtful if' 4/6 could be paid. Certainly there would be little or no profit on the transaction. A week so ago it was possible to get up to 5/3 for prime milling lines, so holders are not likely to exhibit any keenness to accept the lower rate ruling now. Business is at a standstill. Less than ten per cent, of the year's is in the hands of■ growers, a*nd' : .■ the fortunate few who hold supplies are men who can walk in to see their bankers with a firm tread. y Some of them who are rather critical of the action taken, express their intention of retaining the supplies they : have. - In the meantime neither side are. inclined to trade. Some grocery merchants, assert that the Government proclamation will be to some extent circumvented, or at' least ~. - nullified, by holders of flour only letting - it out in very small quantities. The action taken was drastic- enough to demonstrate that the Government was in no half-hearted mood, and probably would go further to enforce its de- ; marids. Others ask why the price of ' bread has not been fixed; this, they declare, being a natural sequence to fixing the price of flour. - The retention of the troopships in the Dominion necessarily means the using of more oats and chaff ere the force finally departs. This has kept prices firm for both these lines at late rates. Potatoes are at prices that hardly warrant picking them up and delivering, especially as the rush of farm work is . on. Plenty, of potatoes can be got. from 30/- to 35/- per ton, and as it is a day's work to bag up a ton from a pit, it eats into the already low price offering, excluding the question of delivering to the buyer. Planting is commencing, but as seed is plentiful in the country the market has not been affect- V ed to any. extent. J„ Fair supplies of butter are commencing to come to hand, and mer- ; chants are offering lOd perlb. for dairy and IOAd to lid for separator. Eggs i] are being bought at 9d per dozen by the f : wholesale houses. - In other respects the markets are life : ? less,- except for small seed lines, and •prices are unchanged. CHRISTCHURCH STOCK EXCHANGE. OCTOBER 2, 1914. • . -' SALE REPORTED. N.Z. Insurance .. .. £5 10 0 jj TO-DAY'S QUOTATIONS. ( Buyers. Sellers. * GAS— £ s. d. £ s. d. Christchurch . . .. 617 6 7 2 0 INSURANCE— New Zealand .... MEATS— Chch. Meat Co. . . 15 0 0 WOOLLENS— Kaiapoi 4 17 6 MISCELLANEOUS— Bowron Bros., 10. & T. Co. ..... . N.Z. Farmers' Co-op. 2 5 0 Whitcombe <Ti Tombs AUCKLAND STOCK EXCHANGE. Press Association. AUCKLAND, October 2. Sale—Grand Junction 23/6.