PRODUCE MARKETS

Timaru Herald, Volume CXXXVII, Issue 19626, 21 October 1933, Page 7

PRODUCE MARKETS

CHRISTCHURCH. By Telegraph—Press Association CHRISTCHURCH, October 20. The seed market continues active. Ryegrass of good weight and quality is required abroad and for good 281 b. seed up to 2/9 a bushel has been paid to farmers. However, there is a wide variation in the seed offered. Some of it is very light and loses a lot in dressing, whilst germination is poor. For this quality (he price is correspondingly lower, about 2/- to 2/S a busheL Good average seed ranges about 2/6 for both Italian and perennial. Some export has taken place in dogstail which is worth 8d per lb. f.o.b. for machine-dressed. A few sales of chewings fescue have been made to England and America. It is worth 44d per lb f.o.b. Cowgrass continues Arm and is worth 9d per lb. to farmers for choice quality; inferior to 7d. White clover is worth lOd to 12d per lb on trucks for best quality. Cocksfoot Is worth to 6d per lb on trucks for Bays and to 5d for Plains. Fowl wheat has firmed and is worth 3/9 f.0.b., s.e., Lyttelton. There is not much of it about. With the increments and store and other charges on milling wheat, the fowl wheat price is still 4d or 5d a bushel below the value of milling, but in any case the season is shaping so Indifferently that the policy of the Wheat Board will probably be to hold a million bushels carry over until the prospects of the next harvest are clearer. Though oats axe firmer there Is little business passing. A. Gartons are quoted at 2/6 a bushel f.o.b. Lyttelton, and 2/4 in the south. There is no inquiry for B. Gartons. Small lots of potatoes continue to be shipped north. They are nominally worth £2 on trucks, a rather depressing price since most of them now have to be picked over. DUNEDIN. By Telegraph—Press Association DUNEDIN, October 20. So far as the milling wheat market is concerned there is little fresh to report. Odd lines are being taken over by the Wheat Purchase Board but it is considered that from now onwards there will not be much wheat offering as farmers have placed most of their stocks. There is a better tone In the fowl wheat market both in the shipping demand and local trade. As a consequence a clearance of stocks is being made. Local supplies are now on the small side and with the approach of the wool season holders have to shift their stocks from the stores. Sales are being made at 3/6 a bushel, sacks extra ex truck. For the best quality for deliveries ex store, in small lots up to 4/- is being obtained. The oat market is firmer. Holders in the country are not keen to sell their stocks at present prices. The shipping market has improved, there being more inquiries from the North Island. A. Gartons are worth to-day 2/3 f.o.bsu., and B’s from 1/1 to 1/11. Odd lines for seed are being delivered to the country. The total outgo to the country has been on the small side, indicating that there will be a considerably reduced area sown down in oats this season. The bulk of the chaff required for this market has been drawn from Canterbury. Prices in the north have advanced slightly, and this has been reflected in the local market. Best quality is worth to-day from £3 10s to £3 15s a ton sacks extra ex trucks. It is difficult to make sales ex truck, most of the selling being confined to small lots ex the store at £4 to £4 5s a ton. The bulk of the old potatoes have now been cleared up. In order to make sales lines have to be picked over and offered at £3 a ton, sacks included. This price is for best quality to which sales are confined. Lines not up to standard are almost unsaleable. New potatoes are now arriving from the Auckland district. The market for all lines of seeds continues firm with a fair amount of export business going through. The majority of sales have been confined to perennial and Italian ryegrass which has appreciated considerably in price and there are inquiries from overseas for more lines. Sales of dogstail overseas have also been made. The market for cocksfoot continues firm. It is difficult to get quotations for this seed as stocks are lighter than usual at this time of the year. Holders prefer to await the prospects of the coming season’s crop before making sales. LATEST WEEKLY REPORT. LONDON, October 19. The Bank of England returns have been issued as follow: — ISSUE DEPARTMENT. Notes Issued— £ In circulation 370,595,747 In banking department . 79,781,552 £450,377,299 £ Government debt 11,015,100 Other Gov’ment securities 243.115.931 Other securities 2.225,536 Silver coin 3.643,433 Fiduciary issue 260,000,000 Gold coin and bullion .. 190,377,299 £450,377,299 BANKING DEPARTMENT. £ Proprietors’ capital 14,553,000 Rest 3,120,041 Public deposits 14,458,495 Other deposits— Bankers 108,959,027 Other accounts 45,569,939 Seven-day and other bills 1,169 £186,660,681 Government securities .. 81.468,404 Other securities — Discount and advances . 8.500.519 Securities 15,555,531 Notes 79,781,552 Gold and silver coin •. .. 1,354,665 £186.660,681 Proportion of reserves to liabilities. 48.00 per cent.; short-dated bills 5 per cent.; three months 'bills 13-16 per cent. DIVIDENDS PAYABLE. South Otago Freezing. 8/- a share, final October 20. Pukemiro Collieries. 1/- a share, final October —. New Zealand Guarantee Corporation (contribs.l, 3d, final October 26. D.1.C., prefs., 6d. final November 1. D I.C.] ordinary. 3d. final November 1. Waihi. interim. L- (approx.), November 1. Electrolytic Zinc, prefs.. 1/74, final November 2. Bank of Adelaide, 2'-, Interim, November 9. Broken Hill Proprietary, 1/-, interim. November 15. National Bank of Australasia (£10). 5 - interim. November 29. National Bank of Australasia (£5), 2 6 Interim. November 29. Australian Glass, prefs., 41 per cent.. interim December 1. Australian Glass, ordinary, 4 per cent., interim December 1.

FOR THE HOME MARKET. United Press Association—Be Electron Telegraph—Copyright LONDON. October 19 Tile "Sun" Service understands that ( plans ure being finalised to sell Australian butter in Britain in 1 Mb and lib packets, on an extensive scale. Co-operative organisations in all States are combining to supply ;ho choicest butter for selling overseas. The Farmers' Co-operative Federations, who had been appointed the Empire dairies' distributors of the scheme, will be launched on November 1. accompanied by an intensive publicity cam-

BRADFORI) TOPE. tl United PrcNR Association— Bv Electric Telegraph—Copyright LONDON. October 19. Bradford is llrm: 70 s 35d, 64 s 331 d. 60 s 3iid. 56 s 22k1. 50 s 15*d, 46 s 11 Id 40 s lOid. SILVER. British Official Wireless RUGBY. October 19. Silver —Spot 18d, forward 18 1-IG<l

DAIRY PRODITK. 1 Dalgety and Company. Limited, have received the following message from their London ofllce, dated October 20Butter.—Market steadier; Danl. U 11R New Zealand, .salted 96 - to 100/-; Australian, unsalted 102 - to 104 Australian. : alted 9* - to 100 j Australian, g a.q. 92 - to 94 | Cheese.—Market slow; Australian. ' white and coloured, not quoted; New Zealand, white 49-; New Zcalano. j ' eoloured 47/- to 48 -; Canadian, white and coloured 52 - to 56/-.