COMMERCIAL

Colonist, Volume XLIX, Issue 11959, 12 June 1907, Page 4

COMMERCIAL

WHEAT SPECULATIONS. The cargo of the Criffel, which left Sydney on February 22nd with 9531 quarters of wheat, had been turned over six times before she sighted England. The first sale was at 30s lj£d before completion of loading The purchaser resold on March 13th at 30a 7J£d, a profit of Gd a quarter, and the second purchaser turned it over to a third on April 27th, at 30a 10y z d. The third purcbaser as a result of the rise in America, sold the cargo on May 18th at 33s 3d, making a handsome profit. The purchaser at 33s 3d sold at 34a, and a few days after the cargo was turned over again at 34s 3d. The fifth purchaser evidently thought the market bad reached the maximum, but subsequently advices were received of the sale of a South Autralian cargo at 35s 9d. The cargo of 12,111 quarters in the Clyde, which left Fremantle on May 9th,

■Vrts gold at 31s 3d on April 26tb, md resold again a second time on May 24th, at 355. The County of Cardiff left Melbourne on February 16th with 9267 quarters Viotorian wheat, the carpo having been 3old bßfore the vessel left at 30s 3d. On May 10th, several days before the rise in America, the purchaser resold at 31s 6d, reaping a profit of Is Hd. On May 23rd, some days after the rise in Chicago and London, tbe cargo was turned over at 345. The Lyderhorn left Melbourne on February sth, with over 20,000 quarters, and her cargo was sold on May 3rd at 31s 3d, and resold a fortnight later at 34s 3d The Serena took 12,757 quarters Victorian wheat on February 4th, and the cargo "-vas sold on April 12th at 303 lf£d ; resold on April 26th at 30s 10^d, on April 27th at 31s 3d. and on May 25th' at 3-1 s 3d. A specuhjtor made i 51751 on a South Australian cargo after holding for twelve days and another .made £2500 on a Sydney cargo after holding for less than a month. Thess profits were surpassed by thah oi' another speculator, who sold fifteen thousand quarters of South Australian at "a profit of 3s 9d a quarter. Farmers who sold their wheat early in the season at 2s lO^d to 2s lid per bushel, have been feeling agarieved at seeing prices go to 3a lid." I