COMMERCIAL.

Star (Christchurch), Issue 16861, 11 October 1922, Page 8

COMMERCIAL.

THE WORLD’S WHEAT. (Received October 11, 11.30 a.m.) ROME. October 10. The International Institute of Agriculture estimates a decrease in the wheat yield of Europe (not including France. Germany. Serbo-C'roat-Slovene State, whose figures are not yet available) at thirteen per cent below 1021. North Africa's decrease is 0-2 per cent. India. Canada and the United States show an increase of 17 per cent., dins com pen eating for the European and North African deficiency. It appears probable that the yield of the whole of the Northern Hemisphere wiU at least equal that of 1921. ENGLISH WOOL RALES. | (Received October it. 11 an a.m.) LONDON. October 11. i The wool sales opened strong. prices FUR NTTU E K BAI- b. The demand for furniture was instanced by the large number of v buyers at Ranfurly Street furniture sale yesterday and the prices realised. Following are a few s° f the prices: -Piano £B3, sideboard £B. j cn.cliesse £8 3s. bedstead £5 13s. wardrobe £B. dining table £4 13s. carpet £lO 15s, carpet. £7 3s. pictures to £1 13s. chairs I3s each. P. R. Nicholls and Co. were the auctioneers. 305 P. ANT) O. COMPANY. REPORT FOR THE YEAR. (Received October 11. li.hO a.m.) LONDON. October 10. The P. and O. Company's credit balance is £7,444.901. of which- £101.799 will be carried forward. i The report states that the captain of : the Egypt (whjeh was sunk in a collision), j w ho had been all his life in the company’s : service, with an unblemished record and , ; without an accident, had voluntarily re j signed, and had been granted the maxi- ' mum pension under the company’s rules. It wa s expect'•d that the Mongolia won] ' be delivered early in the spring, the Moottan in June, and the Maloja in August. The directors were preparing plans fo- , several new mail steamers, and would invite tenders n« soon as the time appeared to he favourable. There hail been a slight improvement in the outward trade, but it was still ver poor. The homeward trade was greatly bound up with the outward trade. Current rates, to a great extent, were unremunerativo. The passenger trade lia 1 been satisfactory, every outward vessel being fully booked. AUSTRALIAN WHEAT OUTLOOK. (Received October 11. 12.55 p.m.) SYDNEY, October 11. The agricultural editor of the Daily Telegraph ” sounds a note of alarm regarding the New South Wales wheat harvest. He says that it is estimated that 2,393,000 acres were sown for grain. The absence of spring rains over a great part of the wheat belt threatens to cut the possible harvest down by a third or a half, and a break in the weather now. vith sufficient rain, would make a 30,000,000 bushel harvest possible. Witn the continuance of the hot weather, which is now prevailing, 23,000,000 bushels may not be realised. Tn some districts large areas are already carious condition. Tn the Riverina (southwest). which will account for rather more than half of the total acreage, the outlook is for bumper yields to half crops. UNITED STATER LOAN. (Received October 11, 12.55 p.m.) WASHINGTON, October 10. The United Staes loan was oversubscribed the first day. A message received yesterday stated that the Treasury had announced the issue of 500.000.000 dollar bonds for the purpose of refunding the American war debt. The bonds will mature in 1952, but will be redeemable at the option of the Government. in 1947. Interest will l>c at the rate of 45 per cent.