THE PRICE OF WHEAT.

Gisborne Times, Volume XXV, Issue 2095, 3 June 1907, Page 2

THE PRICE OF WHEAT.

SYDNEY MARKET.

United Press Association —Copyright SYDNEY, June 1. Flour is firm at £9 per ton.

TIMARU WHEAT MARKET.

STOCK HELD FIRMLY,

OFFER FROM MELBOURNE.

Press 'Association. TIMARU, • Saturday

Tho wheat market, which was at 4s fid here yesterday, has eased back to 4s 3d to-day.

Much interest was shown to-day (market day) in tho state of the wheat market. Some farmers sold at 4s 3d, but others expected 4s 6d, and are holding out for that. It is reported that 4s fid and 4s 6}d f.o.b. have been given during tho week by outside buyers for 2 lots. An offer of wheat from Melbourne at 4s and 4s Old f.o.b. has been received .

At present flour is £ll for sacks and bread 7d for the loaf for cash.

AUSTRALIAN IMPORTATIONS.

DUNEDIN, Saturday

The latest development of the wheat boom is the report that contracts are on the point of being concluded for an extensive shipment of Australian flour to New Zealand, the last rise in the local article having made this possible.

GOOD PRICE FOR WHEAT RE-

FUSED,

ASHBURTON, Saturday.

Tho bakers to-day raised the price of bread to 7d for cash and 7fd booked' for the 41b loaf. Yesterday a merchant offered a line of wheat at 4s fid per bushel, but to-day withdrew the offer and asked for 4s 9d.

DISSENSION AMONG BAKERS.

OAMARU, Saturday.

The bakers so far have been unable to agree as to a rise in the price of bread, which still remains at 6d the 41b loaf.

TO DEAL WITH TRUSTS.

PROPOSED GOVERNMENT.

ACTION

DUNEDIN, Saturday.

The Hon. Mr. Millar told a Star reporter that he thought a Board of Commerce should be set up to report whenever it became apparent that undue prices were being charged on the commodities of life. They should advise the Government as to what steps ought to be taken. The report would be presented to Parliament before being acted on. That was the course that was being pursued in America, where trusts had been created, and it appeared to him a great deal better than that machinery should be provided to deal -with such matters before they did become an established fact in this colony. The Arbitration Act would be amended by the creation of provincial Boards of Wages, consisting practically of experts in equal numbers on both sides to deal immediately with disputes in any particular trade. The awards would be in existence not less They could not control the outside Appeals t.o the Arbitration Court would be allowed in certain cases. The Wages Boards would be somewhat similar to those in Australia.

AUCKLAND MERCHANT’S OPINION.

BEYOND THE COLONY’S . CONTROL.

AUCKLAND, last night

Respecting the Hon. J. A. Millar’s, statement as to the possibility of Parliamentary intervention, one merchant said it was nonsense, as the matter was beyond the control of the colony, and depended on the state of the English market. The only way in which the Government could interfere, he said, was by buying up all-the mills and running them as a State concern, but they could not compel farmers even then to sell wheat lower than the market rate. They could not conerol the outside markets which govern the New Zealand market.

POSITION IN AUCKLAND

AUCKLAND, last night.

An Auckland flour merchant stated yesterday that he had received a telegram from Christchurch stating that one firm had raised the price of flour for Auckland to £ll 10s a ton f.o.b. Lyttelton, less 2) per cent, discount. As freight and other charges amount to 12s, this would make the net price here £ll 16s 9d a ton. The opinion was expressed that it was unlikely that any business would be done here at that figure while local quotations remain at the present figure.