TIMARU MARKETS.

Press, Volume L, Issue 15037, 4 August 1914, Page 11

TIMARU MARKETS.

Enquiries made among commercial men in Timaru yesterday by our Timaru representative went to show that business locally, owing to the war scare, is largely in a condition of suspense. There seemed to be a feeling, said the head of one firm, that yesterday was not a day for business, and there was a disinclination all round to settle down to work seriously.

Thero is.some activity on the wheat market,, but trade is restricted on accqunt of the high prices asked. Still, a good deal of wheat changed hands yesterday, and this, as well as flourmill produce, has gone up in price substantially. Wheat which could have been bought last week at 3s lOd, has now risen to 4s.and 4s 3d, and arienny more is offering • for prime '. Velvet. Some holders are asking 4s 6d, but/so far as could be ascertained yesterday, this price had not been paid, though it is quite on the cards- that it will:be paid 'if the war- continues. v On the other hand, if peaceful conditions.'are restored, prices are. expected to. drop back to normal at. once.' ■'■$■ The outbreak, of hostilities in- Europe has also had its effect "on f the price, of stock. For a long time past sheep have been'fetching high prices, but at, : the Pleasant Point, stock sale yesterday •there was a substantial drop, and buyers seemed more inclined to stand -around-in knots idiscussing the situation, than to offer or take an. interest in tne sale. This is ho doubt owing to the fact that at least some, of •the.auctioneering/ firms, are now/declining advances on .stock. ; : Already-there is. talk of the necessity for ', getting in good supplies of household necessaries in the way of foodstuffs. : which. come from oversea • and some things of local manufacture, such 'as flour/ but nothing "has been' done in this way yet on an extensive scale."