COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18629, 26 July 1930, Page 21

COMMERCIAL.

GRAIN, SEEDS AND PRODUCE MARKETS. ONIONS IN BETTER DEMAND. By Telegraph—P. Association. CHRISTCHURCH, July 25. The market for potatoes is still very weak. The Katoa is due to sail from Lyttelton to-morrow night, and it is expected that she will take betweeen 2000 and 3000 sacks to Auckland, a great deal less than had been anticipated earlier. The Wingatui is scheduled to sail from Timaru tomorrow, and estimates are from 5000 sacks to 9000 sacks. In any case it will be the largest shipment to leave Timaru over along period. For the Katoa, values were considerably firmer than the ruling “prompt” quo* tation, and sales were made at £4 15s to £5. To-day forward quotations are £4 12s 6d f.o.b. s.i., for Julys, £5 2s ba for Augusts, and £5 5s for Septembers. The role the farmer is adopting is that of holder, and to-day, with values so low, he remains firmly in that position. The nominal value to farmers is £3 10s to £3 15s on trucks, compared with £6 15s during the corresponding week of last year. Oats also are very quiet locally. However, the position is still firm, and B Gartons have been sold this week for Lyttelton shipment at 4s f.o.b. s.i., and A Gartons at 4s Id. The southern quotations to-day are 3s BAd to 3s 9d f.o.b. s.i. for B gartons, and 3s 9}d to 3s lOd for A Gartons.

The chaff market is quiet. There is little offering and little inquiry. From Auckland, the inquiry is small, as Tasmpanian consignments hold the market there, and more are expected next month. Sales for prompt delivery have been made at £6 17s 6d a ton f.o.b. s.i., equivalent to £5 7s 6d on trucks. Chaff for later delivery is not offering in any quantity, and the inquiry is dull. The onion market is pratically a spent force; but a few orders are being met from outside ports. The duty which has just been placed on foreign onions has had a firming effect on the market, and up to £4 on trucks has been paid this week for quality lines. A little business is being done in the new season’s wheat at 5s 5d to 5s 6d a bushel for Tuscan, according to stations. Fowl wheat is a shade firmer, with the inquiry fair. To-day’s quotation Is 6s to 6s Id f.o.b. s.i. DUNEDIN WEEK-END REPORT. SLACKNESS IN POTATO MARKET. By Telegraph—Press Assentation. DUNEDIN, July 25. The milling wheat market remains inactive, there being practically no business passing in Otago. Practically all varieties of wheat have passed out of first hands, and business in this district is confined mostly to fowl wheat. The demand continues slow, distributing business being poor for this time of the year. Prices, however, remain firm at 6/3 ex store Dunedin, as there is only a small quantity offering. Prices for milling wheat remain unaltered at 5/9 on trucks, sacks extra, country sidings for Tuscan, with 5 11 to 6/- for Hunters and Velvet. The oat market is dragging, with a downward tendency. The decline has not been caused by offerings from the country, as the bulk of the oats are now in merchants’ hands. The weakening in prices is reflected in the offers to sell the small lots held by farmers. The quotations now submitted are 3/2, sacks extra, on trucks at country sidings, for A’s, and 3/- for B’s.

Local demand for chaff is not very active, but the quantity arriving is sufficient to keep the market supplied. There is not much inquiry for shipment, but an odd truck is being sent away at a price which shows a reduction on the rates ruling early in the season. The present value of best quality is £5 10s to £5 15s, sacks extra, ex truck, Dunedin. Medium and poor quality is selling slowly, at £4 10s to £5, sacks extra, ex store, according to quality. The potato market is weak. Some Canterbury merchants bought potatoes forward earlier in the season, but they are now anxious to quit their stocks at a lower figure than they paid in the first instance. This has caused anxiety amongst merchants, who hold actual potatoes to also sell, and they are now trying to find a market. Supplies are now in excess of the demand, and it is difficult to maintain the price that was ruling last week, namely, £5 5s per ton, sacks included, for freshly-dug lines. Whatever inquiry there is, is only for potatoes that are not showing signs of growth or disease.

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY’S QUOTATIONS. (Special to the "Herald.”) CHRISTCHURCH, July 25. The following quotations were current on 'Change to-day:—

Buyers Sellers £ s. d. £ s. d. N.Z. Govt. Debentures— 4* p.c. Inscr., 1938 99 10 0 45 p.c. Bonds, 1938 99 10 0 — 51 p.c. Inscr., 1941 — 97 0 0 5b p.c. Inscr., 1933 99 10 0 5b p.c. Bonds, 1933 99 12 6 55 p.c. Inscr., 1936 99 10 0 55 p.c. Bonds, 1936 99 0 0 — Other Debentures— Glaxo, p.c., 1945 90 0 0 N.Z. Refrigerating (65 p.c., 1935) .. — 95 0 0 Banks— Adelaide 6 15 0 Aust. of Com. .. 1 2 5 1 2 7 Australasia .. .. 11 15 0 12 2 0 Comm, of Aust. (cum. div.) .. . 1 1 0 1 1 2 Ditto (new, 5/- pd) 0 9 3 0 9 8 Comm, of Sydney 20 0 0 20 5 0 E., S., and A. .. . 5 16 0 5 18 0 National of A/asia. (£5 paid) .. .. 6 19 6 7 0 0 National of N.Z. . 5 13 0 5 15 6 New South Wales 35 12 6 od 0 0 New Zealand .. .. 2 15 9 2 16 0 Union of Aust. (cum. div.) 11 0 0 11 2 6 Insurance— A.P.A 0 6 0 0 7 2 New Zealand (cum. div.) 2 6 0 South British .. .. 2 19 0 Standard .... 3 0 0 National 0 13 6 Loan and Agency Dalgety and Co. .. 10 0 0 10 10 0 Goldsbrough Mort. 1 7 0 1 7 9 Mutual Benefit .. 18 5 0 N.Z. Guarantee Corporation . . 0 7 9 0 8 0 Permanent Investment 10 1 0 10 6 0 United Building Society 0 14 3 0 16 3 Shipping— 1 ‘iluddart, Parker •