LINSEED OIL.

Dominion, Volume 7, Issue 1901, 8 November 1913, Page 3

LINSEED OIL.

Movements in 1 ccuotatloia In Loudon for linseed oil have been for some time very perplexing. A feature whicli Is specially puzzling is the persistency of the premium for forward delivery in view of the fact that the general opinion is that there is nothing • to warrant the argument that higher prices will actually rule nest year. Of courso, in an ordinary steady market, in which rates ate not expected to undergo any variation, it is a oojnmeh practice or the traders to ask a small premium on sales in advance with delivefy. But all the indications seem to point to something like a glut of the oil wnl«36 ft. new outlet is found for it. The current season promises to produce a bumper yield of seed, and at tho end of August last- tho quantity imported into the United Kingdom was already very substantially in excess of trio total receipts for the whole of 1912. whilst it appeared that th£ record of 19M would in all probability be exceeded. Is the year la6t mentioned England drew ftom Argentina up to the end of August 1.36M57 quarters of lineeed. the total of receipts from that country for the January-August period of 1913 being 948,946 Quarters. Russia supplied 94,975 quartera in 1904, and 59,539 this year; the United States figures being 960 and 37,541 quarters respectively, and India's 526,108 and .320,981 quarters, whilst from other countries the Imports wero 81,488 and 816,222 quarters, ma,king tho aggregates 2,670,617 and 2.183,031. InAugufct aJone the intake of the United Kingdom amounted to 350.000 quarters of seed. On the basis of tho records for the periods of comparison tho imports for 1913 will approximate 3,400,000 quarters, as against 2,785,983. quarters received in 1904. In tho latter year the price of linseed oil dropped bach ti £12 10s. per ton at Hull. Tho quotations when the lost mail left was £22 per too.