COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18352, 24 August 1929, Page 5

COMMERCIAL.

GRAIN AND PRODUCE MARKET. CHRISTCHURCH REPORT. By Telegraph—Association. CHRISTCHURCH, August 23. The potato market continues to pursue a “wobbly” course. On Tuesday forenoon, as high as £lO/10/- was paid; in the afternoon they eased to £lO/5/-, and yesterday they were back to £9/15/-. This forenoon business was done at £9/12/6, and this evening values were £9/17/6. Prices to farmers remain at £8 for whites, and £7/15/for Dakotas, which have lost the premium that has existed for the last season or two. Auckland is very bare of potatoes, and the position is likely to be acute by the time the next boat arrives. This will be the Waipiata. She is expected to complete loading at Timaru to-night, and was originally scheduled to leave Lyttelton tomorrow, but -it will probably be Monday before she gets away. She lifted 1000 sacks from the Bluff. 1200 from Dunedin, and between 4000 and 5000 from Timaru. Quite 4000 sacks are already at Lyttelton for her to lift, so that in the aggregate she will take about 11,000 sacks. The Kawatiri is due to sail on Tuesday, and the Wingatui on Thursday. Possibly these two vessels will take total cargoes aggregating up to 7000 sacks, or a total of 18,000 for the week.

The breaking of the drought over a J ■ big part of New South Wales and | ! Victoria has altered the outlook for j ; all feed products there, and oats, 1 I which had hardened in anticipation ; • of an export demand developing, are ! not so firm as they were, although ; little reduction in prices is to be rei corded. The quotation for oats today in Cashel Street was 3/3, f.0.b.5.i., though an occasional sale took place at over that figure. Wheat is quiet, but firm. Fowl wheat remains firm at recent quotations—s/lOi f.o.b. A small but steady business is taking place in seeds, and practically all classes are higher in price. Perennial j ryegrass is in very short supply, and ( sales have been made for dressed seed I at 6/9 f.0.b.5.i., this figure to 7/- being j quoted. There is very little in j farmers’ hands, and up to 5/- is • quoted. Italian also has been a short crop this season, and A grade is worth i 5/9 to 6/- f.0.b.5.i.. or 4/- to 4/3 for ! undressed. Red clover is quoted at j 87/6 to 97/6 per cwt., values to farmers j being about 6d a lb. This seed is in I plentiful supply. White clover is i quoted at up to 150/- per cwt., or lOd |to 12d to farmers. It is expected that ; crop will be just about sufficient j for internal needs. Cocksfoot is worth I 13*d for machine dressed, or 8d to 9}d Ito farmers. It also has been quite a moderate crop this season. DUNEDIN WEEK-END REPORT. OATS REMAIN FIRM. By Talejri »Dh- -Press Association. DUNEDIN. August 23. There is no change to record in the milling wheat market. Millers have sufficient stocks to keep them going in the meantime, and are not displaying _ much interest. Quotations remain at 5s 9d (sacss extra, on trucks country sidings) for Tuscan; 6s for Hunters. and Cs 6d for Velvet.

The firmness in ihe value of oats for shipment has been maintained and business has been recorded at 3s 8d f.o.b. s.i., prompt delivery for A’s. Most of this business, however, has taken place with forward sellers, and the actual consumption demand shows little if any improvement. B Grade are difficult to secure, and prices have firmed to 3s 6id f.o.b. s.i. These prices

are equivalent to 3s and 2s 10£d respectively on trucks at country sidings. A decided spurt took place in the | northern potato market earlier in the i week, the price advancing by £1 per ton in the course of a day. The increase, however, has not been maintained, values having receded over the last, two days. Whites of fair average quality, September delivery are now | quoted in Canterbury at £9 17s 6d f.o.b. s.i. Prompts are quoted at £S 5s f.o.b. s.i. Supplies of chaff are coming to hand from Central Otago, and larger quantities are being offered from Canter-; bury. The current quotation is £6 to ' £6 ss. Supplies are quite equal to the demand. A fair amount of business has taken I place in ryegrass, and as there is little | more held locally than will be required { by merchants to meet spring demand 1 prices remain firm. More dogstail is on offer now than has been the case , for some time. Prices for cocksfoot, j fescue and clovers remain steady at \ late rates. Choice quality dessert apples are in short supply, and prices remain firm. I Pears are in short supply, and sound lines have a ready sale. ORUTCHINGS SALE AT NAPIER. SLACK BIDDING. By Toleffrapo—Association. NAPIER, August 23. ; The second winter sale of crutchings j was held in Napier to-day, when 1100 bales were submitted. The attendance of buyers not so f large as at the preceding sale, and with apparently a lack of orders for export there was slackness in the bid- j ding. This was more pronounced for ' medium to good types of crutchings, which showed a penny to a half-penny ; decline from last sale’s rates. Seedy and inferior usually met with i freer competition, and did not show 1 quite the same decline. The market appears to have been, if anything, a slight improvement on this week’s Wellington and Wanganui sales CUSTOMS RETURNS. By Telegraph—Press Association. j WELLINGTON, August 22! I The quarterly returns of Customs and' excise duties for the quarter ending June 30 show that the total revenue was £1,881,534, a, s against £1,010.493 for the corresponding quarter of 1928. The revenue collected at the four cities, with the figures for the same period in 1928 in parentheses, are: Auckland £519,730 (£444.334); Wellington £699.531 (£568.582): Lyttelton £263.296 (£230,760); Dunedin £190.936 (£162,351). The total excise duty revenue on beer was £145,430 (£151.011), and the total excise revenue £207,406 (£195,966). DALGETY’S REPORT. LONDON. August 22. Frozen Meat. —The market for New Zealand lamb is weak; demand quiet. ; The market for New Zealand mutton j also is weak; demand limited. Quotations are:—New Zealand prime lamb, 28 to 361 b. Canterbury B*id. North 8&d; 36 to 421 b, Canterbury 73d, North Island 7Bd; second quality, Canterbury 7Jd, North Island 75d; 42 to 501 b. Canterbury 73d, North Island 7§d. New Zealand prime mutton, 48 to 561 b, Canterbury 6£d, North Island 6d; 56 to 641 b. Canterbury 6d, North Island 50d; 64 to 721 b, Canterbury sid. North Island 5 Ad. Dairy produce.—Samuel Page and Son report that holders are firm; offerings light. Buyers will not pay advance at present. Butter.—Danish 176/- to 178/-; finest New Zealand 173/- to 175/-; Australian, unsalted and salted. 168 - to 170/-; Australian, g.a.q., 160 - to 164/-. Cheese.—New Zealand, white 88 - to 89'-, coloured 90/- to 91/-; Canadian, white 87 - to 88 -, coloured 89 - to 90/-; Caiiadian, c.i.f., 88/- to 89/-.