FINANCE AND COMMERCE.

Press, Volume LIV, Issue 16263, 13 July 1918, Page 7

FINANCE AND COMMERCE.

v DOMINION'S TRADE AND MARKETS. \ (BT OiTK COiIMEBCIAL EdITOE.)

Tie "Monthly Abstract of Statistics," r isued by Mr Malcolm Fraser, tho Govern- * lent statistician, is a little publication full i interest to thoso who can see in Kb fifty j r 6ixty pages of statistics something more j han mere rows of figures. A great many natters touching the life, production, comaerce, industry, and finance of the Doainion aro dealt with. One long table in the E une number, issued this week, summarises J he import trade of tho Dominion. Tho e ■aluo of tho imports in May is given as , J1,984,638, against £1,071,542 for May last ' •ear, while Tor the first five months of the j ,wo years tho totals are £9,907,094 and 1 ■9,089,807 respectively. The increase in value 1 s, however, duo to higher prices, and not o greater quantities being received. We , earn that, the mortgages registered in Can- , .erbury in May numbered 202, to tho amount i jf £153,224, while 232 mortgages, of the *>tal amount of £181,996 were rho revenue of tho Fund fox tho two first months of the financial year wero • E1,986,168, and tho expenditure £1,992,400. • Another item of interest to Uhnstchurch is that in May thero were employed on Midland Railway 24 artisans and is compared with 32 artisans and 104 labonrM Vhat term H.C.L n otherwise the high cost of living, still attracts the unwilling attention of householders and athers. It wiU be some little .satisfaction to residents of the city and district to know from the "Monthly Abstract of Statist.es, that the purchasing power of a sovereign is. slightly greater in Christchurch than in any one of tho twenty-four other lopreMntaUve towns of New Zealand. Ono of the tables in the pamphlet shows tho amounts required to purchase in each of tho twenty-five towna mentioned during tho four quarters of last year and the first quarter of this year. what would have cost 20s in theaveragooftto four centres in 1909-13. The dealt with aro the three T £o groceries, dairy produce, and meat. Xno following are the figures for the four cities for tho March quarter in 1 917 and tils year- March, March, 1917. 1918. 8. d. "• d. Auckland 26 11| 28 7 Wellington 27 5| 29 3i SSdr 011 :: « 8. » «. This is the sort of competition in which we are all only too glad to see Christchurch a good last. For the past quarter Hamilton (28s Id) and Timaru (28s 3d) cam© next to feShuTch. Following these thero wero 11 towns where what U3ed to cost 20s before tho war can still bo bought for less than 295, eight where it costs less than 30s, and three over that figure—Ta,hapo 30s ljd, Whangarei 303 2d, and Eotortfa 30a Gi<l- . Another table shows the percentage of increase in retail prices ruling in May of this year over those ruling on tho day before the outbreak of war. The figures for Chratchurch for various commodity groups (witbUie Dominion average m paronthoses) are ae follow Groceries 28.67 (40.44), dairy produce 30.57 (39.07), meat 43.36 (36.41), total per centago of increase in the three food groups 34.22 (38.69). On the whole, therefore, Christ church is in a very fair position compared with the rest of the Dominion. Tho relative worth of the sovereign, aa compared with its purchasing valuo in the four years before the war, for the threo food groups, was as follows J— 8. d* March, 1915 .. .. 16 104 March, 1916 16 U . March, 1917 .« .. 14 8i March, 1918 •• ..13 Hi _ Reference waa made in this column last week to the high rates for freight to Australia from Japan in ftU but tho regular mail boats. It is of interest to note that on a shipment of Japanese goods which arrived in Melbourne recently, the freight paid on 72ft to the steamship company at 50s por ton was £4 15s, and tho. brokerage premium amounted to £10 3s lOd, the total freight paid being £14 18s lOd. The chairman of tho Kobe Board of Trade mentioned at tho recent annual meeting of that body that there had been many complaints regarding the very high brokerage demanded by the freight brokers.' The. British commercial attache took up the question with several of the leading steamship companies, but with little result, and no doubt the lack ot support given was duo to firms being afraid of retribution _ later. Apparently the principal Japanese shipping companies operating on tho Australian route are going to eliminate competition between themselves by the regulation of freight rates. "Eastern Commerce" states that i*. is believed that tho Nippon Yusen Kaisha and o?aka Shosen Kaisha are to organise a. conferenco on the Australian line, in , which at present tho Osaka Shosen Kaisha mainr tain a regular. monthly service, and tho Nippon Yusen Kaisha operate threo regular liners and six extra steamers. By this arrangement neither company will be pormittcd to add to its service without the consent of the other, while the two companies .will como to an agreement in the matter of freights. The new confcience, it is stated, became operative early in May in the caso of the Nippon Yusen Kaisha, and in June as regards the Osaka Shosen Kaisha. CHBISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. Buyers. Sellers. £ b. d. £ s. d. DEBENTURES— Whitcombe and Tombs (5J per cent.) .. 100 0 0 — BANKS- . ' • Australasia •• •• 116 0 0 National •• •* 5 8 0 New Zealand (fully pd.) 17 9 0 — Union • • .. 56 5 0 — COAL-r Taupiri •• »• V H « Westport .. ■ 110 0 ~~ Westport-Stockton ... — 0 7 9 GAS— r , a . Christchurch .. 5 16 0 — MEATS— . * o A c N.Z. Refrigerating .. — -Ob SHIPPINGNorthern (14a 6d paid) 0 15 9 WOOLLENS— Kaiapoi .. ..730 MISCELLANEOUS— D.I.C. •• >• 0 10 3 — Leyland-O'Brien Timber — 0 14 3 N.Z. Farmers' Co-op. .. 2 3 6 Weeks, Ltd. .. •• 5 13 6 — MINING— „ „ „ Waihi Grand Junction 0 11 S YESTERDAY'S BUSINESS ON OTHER EXCHANGES. (press association telegrams.) AUCKLAND. Saless—Auckland Tramways, 19s Bd. NOTES FROM WELLINGTON. ' (SPECIAL TO "THE rBESS.") WEIiLDJ CTTON, July 12. Recently there has been eomo enquiry for Ward and Co. brewery 6hares, and business has been done on the basis of £4 15s.' There appears to bo a good demand for most classes of shares, but the difficulty is to find those willing to eell. Some of the merchants hero have had big enquiries for jam, but as apace in ships trading to London is eo very scarce, the business has had to be turned down. _ This is probably the first occasion in tho history of New Zealand that London merchants have offered to buy jam. There is no change in tho hemp So far as pelts are concerned, the American authorities aro very firm on the prices thev have fixed for North and South Island pelts, f.0.b., New Zealand. There are not a great number of pelts left now that have not been dealt with. There is no change in the tallow position, both tho London and American markets being still closed. If a reasonable freight rate could-be arranged for Vancouver, it _i® believed that business could bo done with merchants there. The feeling of anxiety that existed among North Island shippers as to the volume of space available for San Francisco has now disappeared. It is stated that freight has been on offer for "the past two or tnree weeks, which merchants have not accepted, because of the high rate, and it is anti<jipatea- that in view of this, owners will bo obliged to make oonceesioia. GENERAL MERCHANDISE. GROCERIES, ETC. Business during week is reported as on the quiet sido. _ Breakfast cereals are advancing. Tho price . of o&tina has risen 6d per dozen small bags (4lb) and 3s per dozen large bags (20lb). Ger- . Eton* hifi advanced similarly. One firm of

nillers has advanced tho price of its oatmeal 1 per ton. There is said to be a scarcity j f good milling oats. { Patent barley is now unprocurable, and ( latent groaU will probably bo in the eame ( >osition ia the near future. < Ceylon teaa ore coming' in at a hi~h figure. , Qualities for which la Id was paid before the ( rar are. now costing importers Is 9d. . Documents have been received of a large , hipment ot Californian seod- , ess raisins, sultanas, etc., to 'arrive here , •hortly. Many lines of new season's fruits • iavo already been quoted) and according to , Jan Francisco reports, the crop should be ] iqual to, if not b«ttor than, last year's. As . ar sd prices aro concerned, .it is anticipated ■ •hat all products will be high, as there is ; jraotically no carry-over of the 1917 crop, and Jio demand this year is very sreat. Quotations for now season's canned fruits ire anxiously awaited, and here again it is , expected prices will be much higher than formerly, owing to scarcity of labour, higher sages, and the extra oast of tin, sugar, coses, invl other factors. A small quantity of tin Havelock tobacco baa Been received, but the demand is not yet satisfied. Phaonix peel has advanced 2d per lb. As no supplies of Symington's soups aro xrating from England this year, export being prohibited, a fair demand had set in for the New Zealand article, which is said to be giving satisfaction. A email increase, 3d per case of 36 blocks, ia noted in the price of Monkey soap. There has ■ beon a sharp advance of Ss per cwt. in tho price of Barilla soap. Fine salt of all kinds is still in short supply. Present quotations;for Australian are:—Fine £8 10s f.o.b. Sydney, coarse £7 10s, crude £1 10s. A decline has taken placo in tapioca, owing, it is stated, to tho restrictions placed upon tho importation of tapioca into America. Today's quotation is £29 15s f.0.b., N.Z. porta. Sago lias also dropped to £28 15e. Tho local markets aro well stocked. Since the introduction into this market of "Regina" brand Californian herrings, many repeat orders have been placed, but owinj* to tho scarcity of freight space it is a question what quantity it will bo possible to ship. One of the largest oil mills in Scotland, producing "Thistle" brand linseed oil, advises that a price has beon fixed for the home trade only, and on no account is it permissible to export linseed oil. Therefore, until after the war, there is no possibility 4 of British linseed oil making it 3 appearance in this marked. A shipment'of mill cocoa has arrived to a short market. The supply of Nugget polish is restricted, and small sizes -are practically unprocurable. Grocers aro still having a difficulty in securing paper bags, the New Zealand mills, being unable to overtake requirements. Many grocers are compelled to use unsuitable sizes, and others are unable to obtain stocka In so far as the new regulations regarding petrol an-1 benzine will ohock the practice of hoarding they are not unwelcome to distributors. JUTE GOODS, Etc. ' Heavy business has been, done in jute goods for November and March shipments during tho past few weeks. Tho market is verjr firm, and advancing, and there is no indication of tho advent of lower prices. • During the week, 500 bales of woolpacks far March steamer were sold at 6s Id, but no further supplies will be available at that prioe. Cornsaoka, • November shipment, are now quoted at 19s. They liavo been changing hands on the spot at 18s, at whioh price buyers did well. Hessian is stationary at about 137 a 6d per 100 yards, 72 inch, 14.4 quality. A ealo has been made of 18oz heesian, 7i2 inch, at 1555, The same goods have'been bought—before tha war—for 24s 9d. Mutton cloth, for whioh the pre-war price was from lid to Is per lb, has been sold at 3a Gd per lb, HARDWARE. The business for the past week has been steady generally, although the retail trade has been rather uneven. No material alteration in prioes is reports ed, but advances may be looked for as eoon as the sailer shipments begin to arrive. For this class of freight very heavy insurance rates are being charged; in many caees .ho oombihed war--risk and marine insurance ?x----.ceeds tho freight, and that is at a high rate. Tho last mail was rather disappointing, very few advices being received of further shipments on the water or to be shipped. Advices states thai no galvanised sheet ia being manufactured in England for other than Government requirements, and evon in that case the quantities turned out are emal'. Tho bulk of the sheets aro being painted instead of galvanised. American letters report that the whole country v is gradually being put on a war footing. All "transportation, production ox iron and steel, coal, woollen trade, and many other less important features of tho country'o economic life, are now under Government control. A further distinction between non-essential and essential ' industries »» being worked out, and many plants are transferring* their activities from one class to the other, with little,friction or disturbance. "The business situation of the country may be characterised- as one of intense activity, with war needs - receiving first consideration." These lines indicate decidedly that the activities of the Amorican exporter are to be greatly reduced, and a market hitherto open to us wBl be gradually conatriotcd. It is reported that the proposed advance on raw copper will not oventuato, although meetings were held between the producing interests and the Government. Tinplates are still subject to restriction, and deliveries are only to be made to manufacturers who ore making food containers lor war use. Vory heavy commitments have been made in wire, wire nails, etc., with the result that prices have hardened and deliveries have been delayed. Canadian mills, which two months ago were accepting business freely, are now practically filled up. Regarding freight, two steamers are reported on, "the water, and numerous sailing ships have left for other than Dominion porta. It is reported that'conditions at American porta are still bad, in fact even worse owing to the extreme-stringency of the regulations which the Director-General of Railways has put into operation in relation to cargo arriving for export. Formerly fifteen days' grace was given before demurrage chargeable, but this has been cut down to 48 hours. If at the end of tha-t period tho goods aro stSl in tho waggons, this is reported to railway headquarters, and no further authorisations aro given until such cargo is removed. For instance, if an exporter has goods held un for a New Zealand port, under these regulations, until those goods are shifted, ho cannot obtain authorisations to rail goods from a mill for, say, a South African port. This is hitting exporters very hard, and adds to the many difficulties with which they had al ready to contend. During the last throe weeks white lead has advanced £6 103 per ton and red lead £; per ton, brut even at the very high pricce now being asked shipment is practically aj impossibility. Orders that have been ie hand for many months past aro still await ing export licenses, and the chances of aecur ing these aro remote. TEXTILES, Etc. Large shipments of kapoo have been z* ceived in Sydney from Java, and transhipments are due here any time now. Owing to the kapoc market hero being practical!) bare, supplies aro awaited anxiously. Owinj to the disorganisation of shipping from tiw East Indies, shipments have lately been few and far between. Advices received by loco] importers from Home firms indicate that tho position of th< hosiery market is serious, as the allotment* of wool aro very small compared with Bum facturers* requirements. The situation in regard to ootion good: appears to grow worse. A London firm re ports that unless something unforeseen hap pens prices will b& considerably higher. j new order in the Lanarkshire district na* cut down the working hours from 55 to 4( per week, and the weavers havo been giver a 25 per cent, increase of wages. From June Ist production would bo only 30 per cent, of t£o pre-war quantities. The writer ex presses the opinion that after the war there will be a "big slump" in prices, but at th« same time he looks for an enormous demanc for cotton goods all over the world, and especially on tho Continent. So the "slump' will probably be postponed until this demanc in supplied. Giving some details as t< prices, this writer mentions that a pair <s sheets costing 2s 9d before the war now coei lis lOd to produce. A prominent maker o: flannelettes had told him. in reply to a pro test against tho prices he was asking, tha' they were nothing to what they would bo ii a month or two under existing conditions For flannelettes that he was then quoting at la Cd to la Bd. per yard, "half a erowi would be nothing bv Christmas." The fact is that firitish manufacturers an in tho unaccustomed position of being abl< to say that they have enough business t< last them until the end of the year, and the; aie not anxious for more just now. I How great 1b the shortage of labour a Home may be judged from the fact tha: several fions have stated tb*t, owing to thii

rose, they are unable to axiaogo and supply F ravellers' samples. • __ r Scottish tapestry carpet manufacturers have la bandoned the long-continued practice of nx- w lg a limit ahead up to which goods on order is crald be delivered at a fixed price- Coring 1 a the difficulty they experience in getting* c ' aw material and predating goods they n ? w ' *| ook orders on the condition that the ppce 1/ » be charged when the goods ore invoiced nl s the price on the day of invoice. m CANTERBURY MARKETS, ps s Friday Evening. e Tho Dominion v threshing rotarns to ii 'une 22nd, as reported by the Govrnment Statistician, show that closo upon p 1,000,000 bushels of wheat had been put 6 iirou?h the mills to that date. J*, 1 '" 0 iver half a million bushels of wheat balow nilling quality, and the amount of seed wheat o ,hat will have to be allowed for, it is ot>- 1 rious that there will not be sufficient milling t. fheat for tho season's requirements. Vie c mderetacd that the results of.the census of v rheat on hand in tho Dominion, taken in May a aet, will shortly bo available*. The Minister j jf Agriculture is no doubt waiting for this f jefora making arrangements to import wheat ; trom Australia. There is very littie wheat r now offering in North Canterbury, and Ash- ] burton and South Canterbury ore reported to £ have practically obtained all available sup* £ pliee from*grower*. Dunedin reports that no £ further supplies are available beyond what < ran be obtained from Isorth ( Island millers aro also requiring further sup- , plies. .... , . There are still a few odd lines of oats coming forward, and 4s to 4s 4d is being paid at country stations, according to quality. There is an improved, demand for oat-sheaf chaff, due partly to the local weather conditions, and partly to tho fact that there will ] bo a special steamer loading chaff at southern • ports and Lyttelton for Gisborne next week. t For prime bright chaff £5 Ba to £5 10s is ' being offered, and for medium quality JM 15s - to £5 2s Gd at country stations. Prime chaff. . going 23 to 25 bags to tho ton, is bringing tho ; market is without much change. ] There is a fair enquiry, and £6 is being offer- i ed for. immediate, and£B 5s for early August , delivery at country stations. A fair quantity ; has come forward for shipment during the , week. There ia an active demand for seed potatoes, and sound samples are readily sale- , The statement made by Jlr W. A. Banks, of Kangioro, that tho Arran Chief variety of , potatoes was immune from blight this season is- not borne out by some of tho growers, nor by potato merchants. The crops in Ha;rley Park, both north and eouth, though grown under the best of. conditions, except as regards the season, wero badly blighted. This variety, which Is a fairly heavy cropper, will no doubt, however, be tried more gonerallv this next season, as there is a good demand for the seed. The Dakota Beds and Northern Stars ore said by merchants to have been least affected by blight this yoax, and the former havo beon bringing in a of instances 5s per ton more than other varieties. Two years ago, however, Dakota Keds did not stand the blight well, and no particular main crop variety can this year be said to bo immune from blight. Mr R. E. Alexander, director of Canterbury Agricultural College, says that the depth a.t whioh potatoes are planted has nothing to do with the liability of the plant® to be attacked by blight, and that it is a mistake to plant over 4 inches in depth, if a jfood bearing otop is to be expected. Mr Gocdwm, of Halswell, an experienced potato grower, who forms on rich land, believes in shallow planting, and in moulding np the crop at least three times. But, even this, he admits, while beneficial, will not prevent blight. Onions are becoming scarce, and £10 to £10 10a per ton, at country is offered for them. . . The seeds market is very quiet, and it is not expected there will be much doing until nest month. , The following are the prices paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated Milling wheat, according to Government price, South Island, June 5s July Gs, August 6s Old, f.o.b, North Island, 4d additional. , , Oats—Seed Algerians 4s Sd to 4s Gd, feed 4s to 4s 3d; milling Gartons 4s 4d to 4s 6d, feed 4s Id to 4s 3d; eeed Duns 4s 6d to ss, lighter 4s upwards; good quality Danish to 4s 6d. Barley (nominal) —Prime malting 6s Sd to 8s 6d. medium' 5s 9d to 6s. Flour—£ls 10s per ton; 1001b bags, £I<J ss: 50lb bags, £16 10s; 251b bags. £18 15s. Bran—Shipping £5 10s, local £5 15* per ton. Pollard—£7 10b per ton. Oatmeal—2slb bags' £26 per ton, 7lb bags £26 .per ton. • Oatsheaf Chaff—(Nominail, heavy bright I £5 63; to £5.105,- medium <£1 15s to £5 4 in- J ferior £4 to £4 10s ; . .... Cocksfoot—lOJd to Is Si Ryegrass—Heavy Perennial 4a 6d. to 4a 9d, lighter 4s to 4s sd; Italian Ss 9d to 4« 3d: Westernwolths 4s to 4s 6d. "Whito Clover—Clean Is 6d to Is Sd. Red Clover —Is 6d to Is 7d. Peas—Partridge, 6s to 6s 6d, White Ivory lis 6d to 12s, Bluo Prussians 35s to 16s Blue Imperials 16s to 16s. Scotch tares —10s 6d. Beans—6s. 6d to fis 84. Rape Seed—id to OnioM—£lo to £10 10s. Linseed—£24. Potatoes—£6, seed potatoes £t 10s to £3, aocording to variety. DAIRY PRODUCE. There is no change in . any dairy produce line, and supplies are normal. The wholesale prices are:— Butter—Factory Is Gd net, farmers' separ rator' la 9d, dairy Is. Cheese—Factory lOd, dairy od, loaf 9-Jd. Bacon—Sides Is 2d, rolls Is Sd, hams Is 3d. Honey—Extracted fid to 7d per lb. Eggs—Hen eggs Is Od, duck eggs Is 9d per dozen. FRUIT AND VEGETABLES. Both supplies and demand ini the vegetable market have slackened off. There is a steady demand for apples, and supplies are good. A large quantity of imported fruit has come to hand, including Cook Island oranges and bananas, Sydney and South Australian lemons and Poormans. Durirrg the next few days there will be a further supply of lemons and navel oranges. Average wholesale prioes are: Apple®, dessert, 9s to 10s per case, cooking 7s 6d; Cook .Island bananas, 123 to 15s; 'Frisco lemons, 40s; Mildura lemons, 14a to 15s; South Australian lemons, 15s to lGs; mandarins, 14s to 15s; Cook Island oranges, 13s Gd to 14s 6d; Sydney oranges, 12s to 13s; pineapples, 13s 6d to 15s; passions, 14s to 16s; tomatoes, 8d to 9d per lb. Beet, 6d to 9d per dozen bundles; carrots, 10d to lid; parsnips, lid to Is id; turnips, 6d; cabbages, Is to 2s per dozen; cauliflowers, Is to 5s Cd; lettuce, 1b 3d to Is Gd; marrows, Is to 2a; pumpkins, 8s to 4«; cclery, 7d to 8d per bundle; leeks, 4d; onions, 6s-to 7s per cental; potatoes, lis to 12s per sack. ASHBURTON. Business in grain and produce, which for some weeks has been very dull, was further affected during the past week by the etormy weather. Wheat—Brokers report that, apart from odd small parcels coming on the market at intervals, the crop has been handled. Enquiries are still being received, and considerable quantities of wheat could be placed if | it were available. Under grade wheat is ' saleable at current rates as fowl wheat. Oats—Little new can be reported. Nominally the market is but the coastal shipping business is very slow, North Island merchants having acquired supplies ■ for the next month or two. The high pries has also reduced consumption to a minimum, end stocks move off slowly. Quotations: B Gartons 4s to 4s Id, A Gartons 4s 2d tc • 4s 3d, extra choice 4s 4d; Duns, ordinarj - feed lines 4s, first-class samples 4s Gd to 4; < Sd; Algerians (neglected), nominally 4s tc 4s 3d. All prices on trucks country stations. ; Chaff—A considerable quantity of chaff htu been sent ex store to feed stock in the snov: country, chiefly inferior quality. Merchant: only show interest in first-grade chaff, valu< i of which may be fjven a« £5 10s on tTroJw: i f.a.q. may .lie quoted worth £5, but inferioi i grade is not saleable except at a low figure. TIMARU. 1 (SPECIAL TO "THE PRESS.") I TIMARU, July 12. Business in wheat is very quiet, and onlj | an occasional line is being offered to brokers, ( What little is offering ia for the most pari L of sccond quality. There is a slightly im proved demand for fowl wheat. The oat market ia firmer, but very few [ are offering here. Prime wed oats are or> ' quired for, and are worth ss, ex store, fo; retail distribution. ! Two steamers will load chaff at Timart next week for the North Island, end this I will fill the demand for a time. The marke! . is firmer for good quality at about £5 10c to £5 15s, country stations, socks found bj | buyers. ; Merchants . have very few enquiries foi potatoes just now, and the offerings are vor light. The few growers who' are holdin; " supplies seem content to do so in the hopi ' that higher prices will rule later on. A ' present £7 on trucks at station?, bags in ' is the value of tables, while seed Up-to-Datei ■ are worth £5 to £5 10s, and Gamekeeper 1 £1 10s, on trucks, country stations. \ BLENHEIM. > (SPECIAL TO "TUB PRESS.") ' BLENHEIM. July 12. So far as the statement of prices and th« » general features of the produce markets ar< > 1 concerned, there is practically so variatioi > oa the jcanditjoEa reported Lui week

reights aro still lesdricted, and the pos»- ; on in regard to chaff is unchanged, the ck of shipping and on of storage spaoo being ">o compelling 1 «tor among the. merchants. . The prices of clover seed,' the product pmnnally being dealt with just now, aro not at 1 firm, and very little bnsine« » oljering - . lover and lucerne shelling has boon juat bout completed, and mestof tholiMaw l tho hands ol tho moroha»is. The' y*«d f clover eeed has been prolific ace ™f :< d is a little shorter in supply than in revicraa years. . . . , Hay continues to bo in fair re*rn«t for eneral requirements. The supply » anal to the occasion, the- call on li .reflectis the'comp»aUvo miMtiess of tno winter.Potatoes of good quality arc **P~ ly. They ore, if anything, on too scares ide. A demand liae eot in for potatoes f the early ports. An interesting development is tho d abeorption of peas for cropping purpo?®. 3iis is due in |ho main to tho fact- wta* be vrct weather of the last few weeks has arried tho farmers beyond the nenod in rhich thoy prefer to sow barky, and poeil>ly tho £requoiit hint* thrown by tho iHrst Canterbury Military Sorvioe Board as to ho slight chances of appellants who peisist u showing a leaning to barley glowing, nay hare something to do with the matter. .Vrai a profit-making point of view. many igrionlturista in this district would much ooner take risks with peas than with wheat, ind the prospects arc that ther© will bo & ro:ord production of peas nest season. Conlidcrable quantities will be eown im soon an lie ground is sufficiently diy. DUNEDIN. (SPECIAL TO "THE *»853.") July 12. There is a »ood demand for all sound heavy ines of oats, both Gartona and Sparrowbills. Oiete is also a keen demand for lower gradeo, md all coming forwnrd meet a ready solo, rhecre is on onquirv for foed varieties. All * beat offering, whether of milling quadity or [owl feed, is Toadily snapped up at full martot rates. Tho demand for .potatoes is still confined to choice quality tubers. Tho marcot is well supplied with consignment from Canterbury, the quality of which varies very sonsiderawy. Tho quantities on hand ore sufficient to supply present requirements, Choice Taieri potatoes have been placed tip to £9 sft, and tho best northern grown aro Coring up to £8 10b. Oaten sheaf chalf coming forward meets with a ready salo on amral. Bright, heavy lines ore being placed sither for shipment or for local consumption, but medium and inferior lines are receiving little attention, feeders showing a preference for the better quality. SOUTHLAND. (SPECIAL TO "THE PRESS.*') INVERCAKGILL, July 12. Oats—The market is quiet in the northern centres, and in Auckland tbero aro sufficient oats in store to last at least two months. The position seems to ho firmer ia> the South than in tho North. The price to farmers is unchanged at 4a Id to 4s 2d on trucks. There are, however, very few oata offering from the country. Chaff—For prime there is a good enquiry at £5 10s on trucks, but few farmers ore prepared to accept this rate. Ryegrass—There is nothing doing m tho way of shipping ordere, but farmers aro now beginning to book spring requirements, and it looks as if sales will be up tothe average. Potatoes—The chief demand is for table potatoes for looal consumptiop. For export to the North Island the prioes' offering are much lower, and practically •no business is doing. Hemp—Shipping prospects. continue _ ■ uncertain, and priccs remain * low, Fair is, worth from £37 to £33 on trucks. 'AUCKLAND. (SPECIAL TO "THE PRESS.") . : AUCKLAND, July 12. The local potato market: is • not over-sup-plied, and tho steady strain on tftocua i« causing 3. hardening in the prioa. Tho bad weather in Canterbury has rcduoed deliveries to the skipping ports, but local requirements will be met by arrivals of Australian purchases in "Wellington, which it is proposed to bring up by rail. These Australian shipments' aro keeping tho prices of Canterbury, potatoes moderatei •No improvement in the demand for Beed potatoes is reported. The onion market ts beginning to feel the effects of tho shortage. _ Owing to- tho continued repacking that is necessary, prices are constantly advancing, and anything of quality ia now. worth £17 10a. In Australia, high prices are also ruling, so that the usual importatation cannot possibly take place. It is reported that arrangement® havo been made for a shipment of American onions. This will no doubt be a small parcel, as apace ia exceedingly ecaroe, but any that got hero will command high' rates. ! . ..v Oats —Tho market' remains steady with no appreciable rise, and good feed ■is still selling at 5s 7d ex store. Trade is rnuoh restricted by the high prices ruling "this year, and the small demand has prevented the rise .that would otherwise have taken placp in the face of short supplies. A small demand has set in far Algerian seed oata. Merchants have imported fair stocks of southern and also of Australian re-cleaned, but the ,higli freight ia responsible for an increased, oast. Although local stocks of milling wheat..are ample for the present, that does not relieve the position in regard to the end of -he season, when a shortage soems inevitable. Good stocks of fowl wheat are held, and th« demand is light. . , Heavier Bales of flour_ are reported, and local mills are now turning out large quantities. Bran and pollard are demand, and supplies are not quite'fiufficienl to -moot all requirements^ The chaff market remains steady at £1S 10s ex store for best southern, and ptocki continue light owing to insufficient shipping facilities. _ . Tlie maize market is a little weaker sm« last report, and although Gs 6d on the whar remains the general _ price, -6a 4d was so ceo ted for some consignments in order t< effect a sale. , ■ Importers, aro beginning to _ show _ som< concern for next season's supplies of import ed grass and clovor seeds. LEESTON STOCK SALE. Yesterday's stock sale at Leeston was hel< in ideal weather, and there was a large at tendance of farmers and others. The entr; of stock was smaller than usuaJ. . Pzicei throughout were very satisfactory, especially for fat pigs, fat,cattle, and dairy cattle. The entry of sheep was very small. Th sales included:—On account R. McOlur (Killinchy), 14 fat wethers at 40s id; clienl 45 ewes at 24s 9d. , Bacon pigs mado £4 Ss €d to £G 2s 6d, th latter price being obtaised for one eenfc i by Mrs Brears Porkers made 46i large stores 38a to 45s 6d, and small 10s, Cows in milk made up- to £14 Es, springer £7 to £12 153, and fat cows £8 10a. IMPERIAL PURCHASE OF WtlOL. (press association telegram.) DAXNEVIRKE, July 13. Mr Lysnar, of Gieborac, addressed largely-attended meeting of farmers of soutl era Hawke's Bay. upon the Imperial ww purchase scheme. ■ A motion was unanimou ly carried entering an emphatic prote against manufacturers in England being a lowed to make high prices out of the D minion's surplus wool, which was being sol for civilian requirements to the trade i practically cost prioe, and much below ectu value. Tlie remainder of the resolution wi on similar terms to that carried at tl meeting of Giaborno wooLgrowers. Replying to a vote of thanks, Mr Lyam said he felt he would be a public coward he did not expose the effects that were like to accrue to the pastoral industry in Nc Zealand from the terms of the Imperial piu chase scheme if it was extended beyoi ! three months of tho close of the war. SHORTAGE OF IRON. 1 (SPECIAL TO "TUB PRESS.") DUNEDIN, Julv 32. A Dunedin ironmaster, asked how th , trade is getting on for raw material, eaic , "So far as wc know, there's not an ounce iron on tho 'water for New Zealand. V . are keeping gohig by ecraping up every ot lot, new or old, that can bo found' in tl country. New Zealand never had each clean np of old iron. The rolling mills tal all tho wrought and tho foundries all tl cast, and between us we are not miseii anything worth cartage. The Minister Munitions has been asked to try to get tl Old Country to liberate a little, but so /: there is no response, and we are just ecratc ■ ing on from week to week.' ' EXPORT OF RABBIT SKIaS TO . AMERICA PROHIBITED. (SPECIAL TO "THC-PEESB."> 1 DUNEDIN, July 1?. ( Much uneasiness is felt in the rabbit sk '" trade over the decision of tho Ainericj J authorities that rabbit skins are clashed furs. Furs aro in the liet of luxuries, ai their importation is forbidden co a matt r of national economy. The only exceptio: , recognised eo far are ekins .'ro.-a Cana< | and those that' were chipped from oth friendly ports prior to May . 13th. Sin skins are acoeptod by tho Washington w | authorities. No others were admitted. Tl . excludes New Zealand alter May 18th, ai the operation of the'restrictions ia quite eui einoe no skins can be exported to tho Unit States without a license from Washing! signed by the Consul in New Zealand. I whole question has, however, been raise and as the exporters have a strong argume > in the fact that rabbit skins are wanted ) America to keep the hat mills going, there t zvason to hope that the pre-war conditio; •las ta shipping will he reinstated, Fmtfc

idvtees aro anxiously awaited in Duncdim j the headquarters' of the New Zealand trade! J PRICE OF BREAD IN DUNEDIN. . (PRESS ASSOCIATION TELEGRAM;) July 12. The Board of Trade, which is now viU ting in Dunedin, has fixed tho bread pricoa for the city as follows.—Cash over counter; djd for 4lb loaf; private dolivery, caeh 10d, booked IOJd. These prioes are the same ae thoso rulins at present, and fixed by the • Boaid for Christehurch. VISIBLE WHEAT SUPPLY. (By Cable.—Prees Association.—Copyright) (Australian and NJi. Cublo Association.) WASHINGTON, July 1J). Chioago reports that the visible supplied of wheat and flour cast of the Bookies ara 1,769,000 bushels. MELBOURNE MARKETS. (By Cable.—Press Associttion.—Copyris&H MELBOURNE, July 13. Barley—Chevalier 'malting, Ss 9d to 6sj Cape, 4s 3d to 4s 4d; feed, 3a 9d to 3s lldL Potatoes —£3 ISs to £4 se, Onions—-£ls to £10. " WANTED TO BENT?' A FAMINE IN HOUSES. The effects of the war aro felt in more way* thau one. Ono result is the acuta difficulty experienced in eocuring rented houses in Christohuxch nowadays. In fact, tho manager of a prominent land and house agency states that never sine© his firm oommenoed • operations in> 1879 has the difficulty been so acute. Heavy freights and other causes have effected' a remarkable rise in the price of many materials required in house erection; in some cases the increase since tho outbreak > of hostilities has totalled 300 per cent. To orcct » dwelling now coats 30 per cent, morii than in 1914. Ab a result, buildem aud others who were in the habit of building houses for letting purpose* have discontinued their efforts, and building generally has dwindled to very small proportions; Modern dwellings, suoh as bungalows, aro practically impossible to secure, and in fact it is very hard to obtain any house of a letting value from 12s Gd ti< £1. There ore a fair number of cheaper houses on the market, and there ts quite > glut of the large old-fashioned two-storty plaoee, tlie reason for tho superfluity of tho latter being that, caving to tho servant difficulty, pooplo are not disposed to toko on these places with all tlieir attendant work. House agents see no relief in the near future,. in fact they prophesy that it will bo wowi There was an impression at one time that, with th« calling up of members of tho Second Division, for active scrvice, there would bo several houses on the letting market, but principally owing to the reli«f afforded by tho Financial Assistance Booi'i, tho wives of men going into camp aro showing no disposition to give up their, homes. Bad as the position is in Christchurch, it is stated to bo not nearly ao eerioua as in Wellington, and it is anticipated that there will be no increase in tlie rate of rent. The house agents aro stated to ba discouraging suoh increase, and also tho letting of houses to be Bharod by more than one family. Tho only solution the agente can offer houee huntors ia to buy places, p&ying deposit and the balance as relit. Land va'uefi are reported to bo stationary, if not falling, but the incroasod value of buildings counterbalances thin, and values aro in consequonos reported to be the samo as before the var. BAKE® BROS. WEEKLY LETTING REPORT. Baker Bros., 168 Manchester' street, report! having lot the- following properties during. tlie post week:—On account Mrs Bundeaao* villa, Gloucester street, to Mib Duffy;' ,<xa aooount Mr Neale, cottage, Milton street, 'to Mr Semple; on account Mr Pointer, house, Boietta street, to Mr Smith; on account Mr Shannon, oottogo. Pope street, to Mr Wilson j on account Mra Chamberlain, recidenocyOxford terrace, to Mis Maun; on account Mr Westgarth, house, Strickland streetj to MSc Beaton; on account Mr Roberts,' villa, Abborloy road, to Mrs Winsor; oa account Mra Widdowson, cottage, Sonthwark street, to Mr Diggs; on acooust Mr Stevenson, house, Axmagh street, to Mr Rowe;. on account Mr Amos villa, Norwich etroet, to Mr>Eade; on account Mr Armstrong, house, Buccleugh etreoty to Mta Driver. 4938