THE RUMOURED BREAD FAMINE.

Dominion, Volume 2, Issue 533, 14 June 1909, Page 10

THE RUMOURED BREAD FAMINE.

'.• ■ . : MISLEADING AUCKLAND 'JELEGRAMS. ' (BY TELEGRAM—rItESS ASSOCIATIOM.) Christchurch, Juno 11. Misleading and contradictory ' information that has boon telegraphed from Auckland during the week regarding the. wheat market has been generally condemned by those interested in the-. grain trade. The first Btatenient from Auckland that attracted attention was that two Australian buyers wero ou thoir way over to buy up all the surplus wheat in New Zealand, that two 6teamors wero coming to ship tho grain, and that, s by August, there would be a wheat and bioad famine. Next it was stated that theso Australian buyere had been oporating in New Zo&land for two mouths past. Regarding tho'wheat surplus, it. was fast stated that 2,000,000 bushels, availabto for export, wore being tightly held by farraors, and next it was saia that moro than half rf this quantity ,had already been exported. ' ' Inquiries',made- both in. Canterbury and Otago, where the bulk of tho wheat is grown and where tho surplus is lipid, : havo failed to discover any indications of the operations of Australian buyers, or any corroborative information that such a visit is contemplated. So. far frem'niore than half of tho' surplus of 2,000,000 bushels of wheat' having hoen exported, the Customs returns show that, up to the end of, May, only 156,463 sacks (equal to about 521,543 bushels) had been shipped. To show that local merchants are not anticipating the wheat famine predicted from Auckland, it may be 1 mentioned that they have shipped practically-all .their stocks, and, in view of the*'present state, of the Homo market (which must rulo tho local market' so long ae there romains an exportable surplus), they are not making further purchases, unless they can obtain them' on a parity with London values. Meanwhile there is little wheat offering,, as farmers are holding firmly, but,' until there is an improvement reported from London sufficient to justify resuming tho export trade after present shipping charters are filled, tJiore will probably not be a very kcou inquiry'. Millere appear to be well stocked, and no sales of ■wheat are reported to have taken place during the last few days. '•■■-., \. ' Oats aro easier, though few are coming forward, but. tho price is dependent upon London values, and exporters have had to reduce their limits in accordance with the Home advices.' Quotations are now a penny below those of last week, but there has been & renewed inquiry for rye grass, and ; the price of Italian is firaer in view of the crop : not being as largo as anticipated. A few samples of cowgrass have been submitted; and the- opening prices quoted are 6d. and 6sd. There is not much business doing in potatoes. ' , . ■ . ' ■ FLOUR PRICES NORTH AND SOUTH.. AN AUCKLAND MILLER'S VIEWS. (At TELEGRAPH—TEESS ASSOCIATION.) , • ■ Auckland, June 11. i -A prominent representative o£ the milling trade iu Auckland, interviewed to-day regarding . the position inJ the flour, market, remarked that the price of ilour in the south .was recently reduced from £11 10s. to £10 10s.\by the Flourmillers' Association, in order to rally those inclined to hesitate at tho renewal of their agreoment, the, association knowing that to run at a loss would give the delinquents an idea of what thoy might expect if they broke away from the association. ' . ... "The association's price," he continued, "is one which can only ropresent , a loss. Although there is a'fair, quantity of inferior wheat that can bo purchased to enable the manufacture of second quality of flour to be carried on, and;; no '.doubt the low southern quotation.'.for 'Auckland -will causo buyers to.bo a .triflei'.chary,:;-:.the-';'Auckland. millers buy'/only, prime milling ■wheat. This enables the Aiiokland ;bakers to hold a record foi good broad, ■ (and ..there: is .'no difficulty iir getting £12, less'a cash, discount, for this flour. This fact naturally creates a good doal of jealousy in, the south. . Jn further conversation, he said that the Auckland bakers recognised that; without the local mills, they would be at the mercy of tho southern flour combine, wliich should not bo allowed to dominate the position. '■ •