COMMERCIAL.

Timaru Herald, Volume XCVIII, Issue 18084, 22 September 1923, Page 7

COMMERCIAL.

STOCK EXCHANGE. By TeJesraph—-Press Association. CHRfSTCHUBCH, Friday. .Sales on '’Change. — Wilson’s Cement ~ Sides reported.—New Zealand Government 5 per cent. Bonds (1927) £9B UK 6d • National Bank ot .New Zealand £6 16s (two parcels); National Bank of Australasia new issue £lb I s; Kaiapoi AVoolleu (UK paid) 10s Rl; Christchurch Gas £8 os od; New Zealand Refrigerating (UJs paid) 11s 3d {two parcels).

grain and produce. TIMARU MARKETS. AYbeafc growers are displaying a good ileal of anxiety as to the price og wheat for next season, and there is unamnuU, of opinion that it should be fixed at a Himve which will pay tor tne cost ot roc net o In'view of the. lowered oHWs markets and the state ot agriculture in Great Britan, and America (as reported in yesterday s cables) it i. essential that wheat producers snould be equitably dealt with here. It is a matter of common knowledge, no matter wluit may be said to the control >. that wheat growing, even with a >ield , ike that of last year and at the prices i winch obtained for that crop, is not a ! paving proposition 5 a>' cl ah oL . hei se °~ lions of the community are being piotected bv the Government it is but ! fair that"the farmer, upon whom more people depend than is generally recog nised. should be assured of an adequate return for his labour m grou mg wheat. If this is not, so, and tlieie : comes a drop iu the prices of wool and , lamb, many farmers uili find it di ficult to carry on. I The chief topic of interest on tne j local markets this week has been in i regard to Strangely enougn i tlm higher prices realised during the i week have not been paid by North ls- ! laud merchants, but by speculators who had over sold, and who were consequently forced, through lack of sup- ■ plies, to come to terms with those to i wham thev had sold. Supplies are now I in very small compass, and with a con--1 tinuance of th’e demand it is probable ! that higher prices will yet rule. Today’s quotations are £9 10s lor fanaverage quality potatoes, Dakotas £lO, I anti whites £lO ss, on trucks, country I stations, sacks included. The demand I for seed for local planting is practically ' nil; but as to whether this points to | fewer potatoes being put in this year i than usual, or whether growers are already provided with their seed, remains to be seen. It is reasonable to suppose that with prices as they have been this season there would bo a good demand for’ seed, but at present this is not the case. AVlieat is still in good inquiry, all lines suitable for milling being readily accepted for shipment to the No'rth Isi land. Local mills are fairly well supplied. Sprint threshing has not brought out n /.cli additional wheat. Fowl wheat is in good demand and prices for it iVre now close up to those for'milling. The market for oats is weak. The demand reported from other centres as having come from Australia, has not been experienced here. A grade Gartons are worth 2s 9d to 2s lOd, and B’s 2s Bd, on tracks. Very few are held by growers, and very few are offering. Oaten sheaf chaff is steady at £4 for good bright, and £3 10s to £3 15s for f.a.q. Cowgrass is very weak, best samples commanding 9d only, while inferior and 1 parcels containing brown seed are practically unsaleable. AA’hite clover is in rather better inquiry, and good lines are worth Is 4d to Is 6d, while lines containing impurities are down to lOd. There is a steady demand for linseed; f.a.q. lines are worth £l6 lOd ! per ton on trucks, country stations, I sacks extra, inferior and damaged £l2 to £ls. The barley market is still lifeless. The market for partridge peas is a good deal weaker. There is very little I inquiry for seed, and a much smaller area will be sown in peas this year than ! was the case last year. Afost of those who tried the growing of peas last soa- [ son for the first time did not encounter a good season, and were discouraged. Nominally peas are ' worth 6s on trucks. CANTERBURY AIARKETS. By —Press A.*»*oel*tlon. CHRISTCHURCH, Friday. Farmers can now obtain the price for j potatoes that many of them claimed - they were holding off for, namely £lO per ton. However, few of them acted entirely up to their professions in this respect. Probably 90 per cent. ,of them adopted the safer policy of accepting the £8 or £8 10s available for quito a time for the bulk of their crop and the proportion left to participate in the high values is not large. However pow that the desired point has been , reached there seems little hurry on the part of growers to accept it. Alost of them claim to bo too busy with ordinary farm work, but probably the main reason is the one which usually holds in such cases—tho hope of a further move up. The week’s jump has been remarkable. On Tuesday the quote to farmers was £9 5s and to-day £lO was paid, in cases of nearby stations 2s 6d to 3s over; f.0.b., s.i., business has taken place at £ll 17s 6d and £l2. This is not due entirely to the sudden recognition of the fact that potatoes are not plentiful iu farmers’ hands, though reports still filter through from elsewhere that they are, but to oversellers being compelled to hover. The Atua on Tuesday took 3600 sacks for Auckland. The Komata sails to-morrow for the same destination and the on Tuesday for East coast ports. The' latter is taking a fair cargo. There is a better feeling about the seed market. Cocksfoot is now very firm. Standard seed is worth 83d. The improvement at Home is faster than this, so local requirements henceforth should bo met with local supplies. Cowgrass is lifeless. There are no buyers. White clover is a shade brighter and worth Is to Is 3d to farmers according to quality. Dogstail is attracting notieo. The week’s information is that the Home market has improved, and southern merchants are operating amongst themselves, mostly at up to 8)d per lb on trucks. At Gore, the centre of the dogstail industry, dressed seed is worth 8d to farmers. There is also a better lone about fescue, although there is scarcely any quotable change. Decent lines are worth about 8d to fanners. There is a slight improvement iu the pea market which has been very dull For some weeks. The Home market has improved. It is understood that farmers hold very few beyond their own sowing necessities. It is understood that there will be a big sowing this year. Oats maintain the better note manifested last week. THE PIONEER TEIIAIIN AT IN u BUILDING SOCIETY OF TIMARU. Tho annual general meeling m shareholders of tho above society war, held in the Arcade Board Room on Atonday overling, Air Andrew Wilson, chairman of directors, presiding. Eleven shareholders wore present. After reading the minutes of tho previous mooting, the chairman movcu tho following resolutions of condolence: “The shareholders of the society express their regret at the loss by death of the late Air Thomas Pringle. The;* desire to place on record his valuable services as a, member and|dirootor of

the society, since its inception, ana condole with his relatives in their sau bereavement.” The resolution was duly seconded and several members present spoke expressing their regret, tho motion was carried in the usual inanntu all present standing. The Chairman then moved the following: “The shareholders' oi tho soeietv expressed I heir regret at the loss by the death of the hue Air■ Richard Neville Hawkes. They desired to place on record iheir high appreciation, ot his valuable services to the society for many years as a member, as a director and particularly Chairman ot Directors. They also condole with his fnmilv in 1 lie sad loss they have sustained.” This was duly seconded ami spoken to by several members present and carried in the usual manner bv all present standing. ! The reports and balance sheets of Nos. 2.3, and 4 grohps were taken as read, as all shareholders had received copies. Tlie Chairman forinaßv moved the adoption of reports and balance sheets nf the society and after having bee” seconded and a few questions asked and satisfactorily answered the motion was carried. Tho report stated that the world pc' of No. 4 Groan fo v the year showed a profit of £4O 12s fid. and the amount standine- In emlß of nrofit and loss is now £346 13s 7d. BWe the Omiw started the sum of £7BOO had been loaned to members. The number of live shares is pow .*£ll. During the yea 1 * tU♦** soo'oty I'-'11'-'1 suiVpi'or] loss l,v the denth of Mr T. Pringle who had been a valued Director since its inception.. Since the close of the financial year if had lost, bv death, the corcVes of the Chairman, the late' Air R. N. Hawkes. Tt was the intention of the Directors to take | fpe nccecsal-v steos towards the wmyj ins: un of Nn. 2 Group. Retiring this rear bv rotation +h'« year are Messrs C. G. AtVo-rran and AY. J. Morgan who were 'eligible cm! offerer! themselves for re-election. As no other nominations had been received they were duly declared elected. The Chairman reported .on_tlie position of the new Group, No. 5. Air Preen suggested that thfe shareholders of the Society should help to fill up the list of shareholders in the No. 5 group, and congratulated the Directors iu wliat had been done by them. Air A. C. Ala'-lm was re-elected as shareholders’ auditor. The chairman moved a vote of appreciation at the work done by the secretary as executive officer of the Society." A vote of thanks to the chairman closed th« meeting. At a subseooent meeting of Directors Mr Andrew Wilson was elected chairman. Air Fd. Fodem. vice-chairman, and Air J. E. R. Jackson, directors’ auditor. A new director had to he elected in place of the. late Air R. N. Hawkes. and after a ballot wn-s taken Mr Andrew Kennedy was declared duly elected.