COMMERCIAL NEWS.

Hokitika Guardian, 2 July 1920, Page 3

COMMERCIAL NEWS.

FRUIT PRESERVING INDUSTRY WELLINGTON, June 30.

The'total amount advanced under the Fruit Preserving Industry Act for 11)20 was £20,250. The total amount of advances outstanding at the end of the financial year was £65,529. There are no defaulters in respect of advances under this Act. THE BUTTER QUESTION. WELLINGTON, June 30. To-day the .Prime Minister received the following cablegram from Sir Thomas Mackenzie who vacates the office of High Commissioner to-day: “Letter received from Ministry if Food to the effect that Imperial Government is now in position to open negotiations for purchase of next season’s Now Zealand butter.” Though some of the producers have decided to sell to the Co-operative .Society in England the shrewdest business men here are of opinion that it will be far better for New Zealand to take advantage of the Imperial Government’s offer.

THE WHEAT RETURNS. ( AUCKLAND, June 30. Tho. New Zealand wheat returns from last season’s crop- wore stated by the chairman of the Board of Trade, Mr V . G. McDonald, to-day, to be approximately 4,200,000 bushels. He said that this quantity, with the “carryover” from last year, and the importation of about 2,000,000 bushels from Australia would, with care. Ire sufficient to meet requirements until after next season’s crop is harvested. There were indications, provided, of course, nothing unforeseen occurred, and the liarvest was up to the average that the area, that was being sown with wheat would supply the country’s needs. Row] wheat was in short supply, and doubtless oats would have to be used as a substitute. -Mr McDooTlld said the Board of Trade had not done anything in regard to the oat market except to carefully watch it with a view to controlling the export of oats, in order that New Zealand would not suffer from a shortage. Up to the present there had not been any necessity to interfere. He admitted that the use of oats in place of wheat for feeding purposes might have an effect upon the local oatmeal market-, hut to what extent he was not prepared to say. The Board however, was prepared to meet any contingency that might arise.

HIGH COMMISSIONER’S REPORT. WELLINGTON, July 1. j The Department o Agriculture has ro- I ppivecl tfye' following cablegram, dated June 2Gth.. from the High Commissioner for New Zealand, London : Meat—No change ill price. Good demand for all descriptions of imported meat owing to English producers holding off the market in anticipation of high prices when control is removed on July 4th. ■Butter Market firm. Average price English is £l6 9s. Irish creamery quoted at £l4 14s to £l4 18s salt ; £l4 18s, £ls 6s unsalted. Government butter ,£l3 6d wholesale; 2s Bdper lb retail. Cheese—Canadian spot quoted £8 2s to £8 8s; c.i.f., £7 Us 6d to £7 13s. Hemp—Manila marked quiet and steady. Sellers’ closing quotations were: —J. Grade, April-June and MayJuly shipments, £59; August-Oetober shipment, £62 10s. New Zealand mar. ket continues dull. Sellers quote high points spot £56; fair £54 ; May-July shipment, £55 and £53 respectively. I Honey—Market quiet with no alteration in prices.