COMMERCIAL

Timaru Herald, Volume XIIC, Issue 13685, 29 August 1908, Page 5

COMMERCIAL

THE HOME MARKETS,

Cress Association-By TeJegraph-Copyrigh' LONDON/-'August 28.

The wheat)-market;-is dull '-despite the firmness. The American buyers are quite demoralised by the early and abundance of the harvest in Canada and the anticipation- of free shipments thence. Prices are nominally unchanged; 38s, 3d is asked for Australian August-September shipment, and;'3Bs 6d to-39s 6d on spot. Flour shows dull ' trade at 25s to 25s 6d in London, and 27s at Glasgow. The butter market is quiet and Tinchanged. ~• The Bradford' wool market is quiet, and prices are unchanged. The undertone of lbs market is- firm. .'■'■.'.' THE FLAX INDUSTRY. v : Per, Press Association. ' PALMERST'ON %,■ August 28. Mr C. J. Fulton; Chief Government Flax Expert, addressed a well-attended meeting of the Flax- Millers Association to-day, ' reviewing his recent trip- to Britain and .the. Continent and making - ai ; number of suggestions for "forwarding the flai industry. Mr" Fulton considers that the New millers may congratulate themselves on the prices ' ruling for hemp; in other flax-growing countries it is i still lower;;. He considers that "if the millers combine to produce good - quality .hemp .New Zealand will still remain in high favour.;. '"'"'. CHRISTCHURCH GRAIN MARKET.,

K CHRISTCHURCH, Aug.. 28. There :is no'further movement to report in l wheat .onlysmall lots hiving changed handis during the last fe-iv days; The"demand has been principally foiv the North Island. A large quantity of chaff is being shipped" to : Sydney this week aid; a> considerable- amount of" space /'is 'booked; in the ste'amers sailing neit month.'There' is,' however, 1 '- no new busiriess reported, , but on 1 the otliei' hetnd" it is stated that '-, soine Melbourne importers have been eh- : deavouring' to arrange'the cancellation' of orders: The local price is now weaker , and £3 15s is all that is; offered. Potatoes are dull of sale. &>UMP IN OATS. , DUNEDIN, August ,j »There are signs of a complete break in the oats market owing to the; -absence of ; demand arid series. of. forced sales. -It is reported that a purchase was made to-day by a Southland l firm of W considerable*: line of B 'gradei sparrowbills at Is : 7d, Gore, equivalent to Is ; lOd , f.0.b.-, ' «-i., Bluff. Advices from Auckland also.state: that- B grade sparrowbills'; are offering there from the south at Is lid' f.0.b., ;s.i. This represents- a 'drop, of between 8d and i: 9d per bushel from the''highest >'point; touched this'"season - + and' as the ; majority of'the merchants laid m heavy stocks I 'at--the higher" prices : the losses musfc-'be' /heavy. This promises to be the- most disastrous year experienced in the oats trade for a good many years. - Advices from Australia indicate a demoralised market'iri -Sydney' and' Melbourne -owing to heavy shipments from New Zealand' oh consignment: There is no' present" indication'of a "renewal of the North. Island demand, arid merchants are turning their eyes to London, but the, absence of freight's blocks the way: in that quarter.

Messrs Dalgety' and' Co. report "under date, London,"August'27th :—"There is l a. fair demand for "lamb, any change in 'prices 'being in favour of buyers. There is a better demand for 'mutton.' and- a. limited demand'for bub the market is fihn owing to' light'stocks. We quote prime Canterbury lamb' heavy 5Jd, '"light sjjd; prime Canterbury mutton. heavy 3fd, light 4id; prim© North Island mutton 3§d, and 3§d'. Prime- ox beef forequarters "3fd, hindquarters r 4Jd. The rabbitskins market is irregular; prices l 'of New Zealand and Australian, v mcoming winter rabbitskiiis, «r© yav' to id higher siricte our last telegram whilst ,lights are rather lower'arid other descriptions unchan'ged. 'Afr auction'- 2000' bales were offered and 1720' sold." ' ' :•' ; '' ;