PRICE OF FLOUR

Dominion, Volume 8, Issue 2421, 29 March 1915, Page 8

PRICE OF FLOUR

THE MAEKET STEADIES. From inquiries 'made last week it was ascertained that the price of New Zealand (new season) flour remains steady at £17 10s. per ton f.o.b. in the south, which means £18 ss. in Wellington, after all charges are paid. A line of 25 tons of American flour arrived here by the Maitai on Friday, but judging from advices which came to hand by the same boat from San Francisco merchants there, state there is not likely to be much more from that quarter until the new season's flour (milled in August and September) comes to hand. One merchant writes from San Francisco as follows :— . "Our present market is very firm, with prices tending upwards. The new crop will be harvested and ready for shipment during August and September, at which time, should prices be' lower, we hope a large business can be put through, 'but at the present time there is such a demand from Europe, and as we are runniug close to the end of the season with stocks, low, we cannot advise you of a lowor market." Regarding Canadian flour, the price of flour (and charges) is such that local (Wellington) merchants will not bo able to sell to bakers much under £19 per ton. The charges for bringing flour ( aeioss the Pacific varies slightly, according to whether the flour is shipped in a mail boat or a tramp. One lob which has come to hand in Wellington worked out at £3 15s. Bd. per ton, in the following manner:—Freight, £2 7s. Bd.; insurance, £1; and exchange 6s. It is understood, however, that Canada has still plenty of flour for export. Chatting with one who has had 40 years' experience in the flour business in Wellington, the statement was made that the present price of flour was just about the normal figure in the days of the old stone mills some thirty to forty years ago. In tliose days the range of prices fluctuated between £16 and £21 per ton, so that with the sovereign's purchasing value considerably decreased, we. are paying no more to-day—in the middle of the greatest war the world has known —than our fathers did wlien money was a good deal more scarce. Our informant makes bold to say that the war has not affected the price of flour appreciably. If there had been no war at all, prices would be just as high as they are to-day, owing to the failure of the crops in Australia and New Zooland, and in that we should count ourselves lucky. He further states that the 21b. loaf in London to-day is selling at od., and od. in London means more than it does in New Zealand —which fact is a further cause for congratulation.