COMMERCIAL.

Timaru Herald, Volume CXXXIV, Issue 18796, 7 February 1931, Page 2

COMMERCIAL.

WHEAT MARKET. AMERICA’S UNCERTAIN OUTLOOK. United Preß3 Association—By Electric Telegraph—Copyright WASHINGTON, February 5. Mr Legge has written a letter to Governor Shafer, of North Dakota, saying: ‘‘We see.no improvement in the situation so far as the report on wheat is concerned, and financial conditions in the Argentine and Australia make make it necessary for these countries to sell their crops regardless of price. Russia has shipped practically four times the amount of her indicated exports of 20,000,000 bushels. He expressed surprise, in view of the fact that from August, 1926, the visible supply of wheat showed a constant increase, the break did not come sooner, and issued a warning that unless there were reduction in production in the United States, so that the present accumulation might be worked off gradually, the artificial maintenance of price would have to be abandoned, the loss written off, and adjustment left to the old time principle of the survival of the fittest. GRAIN AND PRODUCE. CHRISTCHURCH MARKET REPORT By Telegraph—Press Association CHRISTCHURCH. February 6. There is a. little more interest being taken in the grain and produec markets. Harvesting is now fairly well advanced. The oats market is quiet. Algerians are quoted at. Is lOd to 2s on trucks, and a few sales are reported. A and B Gartons are on the market, but the demand is negligible" and values are 2s 3d for A’s and 2s for B on trl Chaff is quoted at £4 12s 6d to £4 15s f.0.b., s.i., and there is a lull in business. Harvesting conditions for wheat are good, and reaping is proceeding fast. A few lines have appeared on the market, and a sale of a small lot of Tuscan has been made at 5s 3d per bushel on trucks. There is little business doing however. The potato market has shown no movement since last report. Tfi e quotation is £4 2s 6d to £4 5s f.o.b. si Sales are reported as having been made at the former figure for delivery in April-May-June. The onion market shows a tendency to firm, and there is better inquiry. The quotation is £4 10s a ton on trucks to growers. “Prompt” onions are worth £7 10s on trucks.

THE SHARE MARKET. By Telegraph—Press Association AUCKLAND, February 6. Sales on ‘Change.— Government Bonds, 1933, H per cent., £99 10s; Bank of New South Wales, £26 15s, £26 12s 6d: Bank of New Zealand, 445; Union Bank, £6 15s; New Zealand Insurance, 38s; Colonial Sugar, £29 15s; New Zealand Refrigerating (con.), Is 3d; Mt. Lyell, 18s. Sales on ’Change.— Ashburton Electric, 5} per cent. 1934, £99; Bank of New Sonth Wales, £26 ss; Union Bank of Australia, £6 12s 6d; New Zealand Refrigerating, Is 5d (5), Is 7d; New Zleaand Breweries, 32s 3d; Staples Brewery, 30s 6d: King Solomon Mining, 2s (2); Mahikipawa Goldfields, 8d (2>. Sales reported.—New Zealand Refrigerating (10s paid), Is 4d, Is sd, Is 7<jf Colonial Sugar, £29 15s. DUNEDIN, February S. Sale on ’Change—Kildare, Is 4d. Sales reported.—King Solomon, 2s (2); Staples Brewery, 325. DUNEDIN WEEK-END REPORT. By Telegraph—Press Association DUNEDIN, February 6. There is no quotable change in the wheat market, Tuscan is quoted on the basis of 5s lOd f.0.b., sacks extra; Hunters 6s and Velvet 6s 2d. The fowl wheat market has weakened, consequent on the large quantity of crop of poor quality which will be available on account of unfavourable weather conditions. Little interest is still being shown in oat market. A. grade Gartons for prompt, delivery have been quoted down to 2s lid f.0.b.. in Canterbury. Algerians are offering more freely in Canterbury, and for these about 2s on trucks is the ruling figure;. It will be some time yet before oats are available in this district, where the main crop is of Gartons. The chaff market is very quiet, with practically no business passing. An occasional line is being sold ex store at £5 per ton sacks extra, and there are sufficient consignments to meet all requirements. Wet weather early in the week prevented the digging of potatoes, and prices firmed. Digging, however, has again commenced, and supplies are increasing. Best quality to-day are worth £ll per ton. Growers are showing an anxiety to market their potatoes, as the current quotation is high. Little business is passing in seeds. Samples are arriving from Canterbury, but merchants are not anxious to buy.

Fruit Report. Fairly heavy suoplies of stoned fruit have been arriving from Central Otago. The fruit, however, has been affected by the lack of sunshine, and the greater proportion is very hard and not well coloured. BUTTER MARKET. United Press Association—By Electrlo Telegraph—Copyright (Received February 6, 5.5 p.m.) LONDON, February 6. Butter is in steady demand. Danish 142/-. Chocest salted New Zealand 114/- to 116/-, Australian 110/- to 113/-; unsalted at 2/- to 4/- premium. Cheese is slow. New Zealand white and coloured 51/- and 52/-, Australian 50/- and 51/-. . .