COMMERCIAL

Timaru Herald, Volume CXXXVII, Issue 19801, 17 May 1934, Page 2

COMMERCIAL

PRODUCE MARKETS SOUTH CANTERBURY. The chief feature of the South Canterbury grain, seed and produce markets this Week is the failure of potatoes to maintain the rise which was apparent last week. The Wheat Purchase Board is now taking milling wheat for May delivery, and merchants have received instructions for a limited quantity. All mills are at present well stocked, and are not buying. Fowl wheat has shown an easing tendency, May-June being now quoted at 2/10 a bushel on trucks, s.e. A and B Garton oats are worth 2/and 1/9 a bushel on trucks, respectively. There is a fair demand for both lines. Good inquiry has been maintained for dark heavy Duns, which are quoted at 2/1 a bushel on The price for peas is 3/9 a bushel on trucks for No. l’s. F.A.Q. linseed is worth £ls/10/- a ton on trucks. Black and Chevalier barley are quoted at 2/9 a bushel on trucks, and black barley at 2/- on trucks. Chaff is worth £2/15/- a ton on trucks. The rise of last week was not maintained and potatoes are back to £3 a ton on trucks for May-June’s. The Auckland market is well supplied from Pukekohe as well as consignments from southern ports. At present reports indicate that the outlook is not too promising. There is little activity in the seeds market, and prices remain firm on last week. NORTH CANTERBURY. By Telegraph—Press Association CHRISTCHURCH, May 16, Though values show little change, the tone of the potato market is weaker. Inquiries from the North Island are still disappointingly few. Digging will be general again in a few days, and with this in prospect growers are showing slightly more inclination to sell. Quotations to farmers range about £2/15/- on trucks. Fowl wheat is quoted at 3/3 to 3/31, f.0.b., s.e. The oats market is creating very little interest. Quotations are 2/6 to 2/7, Lyttelton, for A Gartons, and 2/3 for B’s. The on-trucks price is 1/11 and 1/8. The market fou partridge peas is lifeless; no inquiry is being received from England. Quotations on trucks are 3/6 a bushel. Quotations. The following are quotations for produce paid to farmers, on trucks, free of commission, sacks extra, except where otherwise stated:— Wheat, new season’s (interim payment for May)—Tuscan 3/8, Hunters 3/10, Pearl 4/-, all f.0.b.; fowl wheat, 3/3id a bushel, f.0.b., s.e., for prompt. Oats—A Gartons to 1/11, B Gartons 1/7. Italian Ryegrass —3/6 a bushel for heavy seed. Perennial Ryegrass —3/6 a bushel. Cocksfoot—9d to lOd per lb for Akaroa; to 9d fpr Plains. White Clover—l/- to 1/2 per lb. Cowgrass —8d to 9d per lb. Chaff—£4, f.0.b., s.l. Partridge Peas—3/5 to 3/6 a bushel. Potatoes—£2/15/- for whites for May-June. Onions —27/6 a ton. Flour —£3/12/- a ton, local; £l2/17/shipplng.

Bran —Large, local, £4/10/-; shipping £4/10/- a ton; small, local, £5.

Pollard —Large, local, £6, shipping £5; small, local, £6/10/-.

“DRAFT” ON WOOL

ABOLITION OPPOSED. The elimination of the “draft” allowance on wool, which consists of lib in every hundredweight charged against the grower, as was suggested at the recent meeting of growers in Wellington, is opposed by the secretary of Wool Publicity (N.Z.), Ltd. (Miss G. V. Howey). In a memorandum to the committee of the organisation she states: “To eliminate the draft allowance in favour of a central fund at first appeared to me a good idea, and it would be if circumstances were different. I have come to the conclusion, however, that steps to eliminate the draft at present would be premature and foolish, and that they could only be properly and successfully carried out after the setting up of the Imperial Council for Wool. “There &re three men in England,” says Miss Howey, “who are capable of bringing this organisation into being, and \vho, because of an approach which appealed to them, are prepared to act now. Two of these men, who are buyers, nre certain to be completely antagonised by tne proposals recently made public by the Prime Minister. “If the New Zealander had been diplomatically patient and looked beyond the immediate possibility of advantage to the larger advantage of the complete scheme, there would not have been any grumblers, and the growers would have had a common platform with the buyers, based on goodwill, upon which to air their grievances. New Zealand cannot expect to find aggressive and one-sided proposals well received when Imperial markets are in the melting pot.”

SYDNEY STOCK EXCHANGE.

United Press Association—By Electric Telegraph—Copyright (Received May 16, 8 p.m.) SYDNEY, May 16. The Stock Exchange market is becoming quiet, which is to be expected at this time of the year when approach the balancing period, as well as owing to the absence of specific influences calculated to excite the market, and also the sagging wool prices. Buyers are showing less disposition to enter fresh commitments. Sales.—Bank of New South Wales, £25; Commercial Bank of Sydney, £l7/17/-; National Bank (£5 paid), £6/10/-; Colonial Sugar, £64/15/-; Howard Smith, 14/6; Associated News (pref.), 24/6; British Tobacco, Tooths, 45/-; Dunlop Perdriau, 24/6; Winchcombe and Carson, 28/6; Wilcox and Mofflin, 13/3; Electrolytic Zinc, 26/9; Anthony Hordern, 16/3; Lustre Hosiery, 23/3; Standard Cement, 17/6; Goodlet and Smith, 23/6; Australian Iron and Steel (pref.), 22/10i; John McGrath, 29/-; Broken Hill Proprietary (ex. div.), 46/9; Rawang, 9/2; Larut, 15/6; Placer Development, £24. Melbourne Sales.—Howard Smith, 14/6: National Bank (£5 paid), £6/10/-; Australian Paper (pref.), 37/-; North Broken Hill, 93/6; Mt. Lyell, 23/-.