COMMERCIAL.

Timaru Herald, Issue 170296, 14 August 1920, Page 7

COMMERCIAL.

THIS LOCAL MAKKET3. > STILL QUIET. / ( Stagnation describes the present state of tiie gram and produce markets, tiie position being made still yorto tli ati it other v.-i.ae would be owing to tiie holidays for the races ia Christcliurcli. ' There is a very good demand for seed wheat, but wie wet weather is "unfavourable i'or sowing, and if it continues for any length of time a fair area.intended for spring iyhe.it will probably be sown with oats, linseed; or barley. Keports froni the country are to the effect tliat the wheat v.'hich is now showing above ground is looking well in all parts of tl'.e district. "Wliat small stocks there

iii'o of Jowl wheat are subject to Government inspection to determine whether they m.-iy eonie m later on for milling purposes. The oat market is in an unsatisfactory state, and merchants in both the ■Xoi'Lji and the South Island have lost heavily by them, while growers who have marketed theft- oats have pad the

advantage of the high pieces paid by speculators—prices which it is l.ow' clear were, never warranted. It will bo remembered that the oat market opened on a basis of about us at stations, merchants securing their stocks round about this figure. Shipments up to June 30, from Timaru totalled about 84.000 sacks, and it is estimated that there are about 70.000 sacks in stores in this district. The demand is only of a hand-to-mouth nature, and most of the oats that are in store are held iiy specuiators, who do not care to sen ab to-day's quotations, which would leave them a loss of iully a, shilling a bushel. It is dotihtim whether the oats could be sold even if the price were requced. .Nominally they are worth 4s at stations, sacks extra. Ciiafl, in sympathy. with oats,, has. fallen, and is now worth aboufi'u potton. on trucks at stations, for good, bright quality. L<russ seed is in good demand, but clovers are rather quiet.

.Hie Waitomo and the "Wanaka, which are dno within the next few dav.s, will clear the- August contracts lor potatoes to Auckland.' C'orrebjiondents, advise that ior the first time- for about four months stocks in Auckland sh<nv« signs of clearing, owing to lighter shipments tliau -were anticipated having arrived. The value, however, shows no change in favour of growers. Today's nominal quotation is £2 10s per ton. on trucks, country stations, sacks included. Some growers are holding till they see the result of the efforts of the representatives who went from New Zealand to Australia, to endeavour to get the Australian embargo removed. TALLOW PRICES. The following is the copy of a cable received by Dalgcty and Co., Tini.-.ra, from their Loncion office, dated 13tii August:—"Tallow very lirm. Offered and practically all sold—2ooo cvsks. .Prices have advanced from 'J5s to 20a sineo July 2Lst. Closing prices, mutton and beef, prime descriptions, SOs; mutton and mixed, good colour. 78s: mixed, good bright colour, 735: gut 68s.' 5