A COCKSFOOT BOOM.

Gisborne Times, Volume XXV, Issue 2132, 15 July 1907, Page 3

A COCKSFOOT BOOM.

Press Association. , DUNEDIN, Saturday. For the moment the centre of excitement has shifted from tho wheat market to the cocksfoot market, anti for tho past week buyers of cocksfoot have being chasing overy likely seller in tho endeavor to secure parcels, con sequently a phenomenal rise in price has taken place, the closing quotations touching a level which has not been paraded since 1894. The reason of the rise must bo sought for in the short crops both in Europe and in America. The first rnovo in the local market was consequent on receipt oi buying orders from London about a wedk ago. Tho stocks in the South. Island were mainly in the hands oi two large holders, tho bulk oi the crop having been purchased from growers early in tho season. The fact that these two large holders declined to make quotations caused a ferment, and all available parcels changed "Hands several times at rapidly rising values. Ten days ago 171 b seed was (pioted at old per lb, yesterday parcels changed hands at 6Jd, and to-day holders are asking 6pl, tho prospects pointing to still higher rates. So high a price has not been touched sinco 1894, when, consequent upon a very short crop on Banks Peninsula estimated at only 35,000 sacks, prices touched from 6d to 7d per lb., from 68s to 72s being actually realised in London for parcels of heavy cleaned seed. This year’s yield on Banks Peninsula was an average one, estimated at 68,000 sacks, but the North Island showed a considerable shortage which, coupled with the increased demand consequent upon development of the dairy industry renders it impossible to ship the same amount as usual to London, and at the same time to fill home requirements.