POTATOES WELL SUPPLIED

Sun (Auckland), Volume II, Issue 459, 14 September 1928, Page 12

POTATOES WELL SUPPLIED

MARKET HOLDING FIRM HIGHER PRICES FOR ONIONS September 14, 9 a.m. A rather unusual position in regard to potatoes has arisen in AuckVand over the past fortnight. Although very heavy supplies are held on the wharf, there has been no change in the market. The tubers are mostly in the hands of one holder, and to date he has been able to ask full market price. It is estimated that to-night, with the Ivartigi’s cargo available, there will be over 12,000 sacks of potatoes unsold on the wharf. The Katoa, clue on Monday, is expected to bring anything up to 6,000 sacks, further supplementing available stocks.

The knowledge of the heavy shipments coming forward on consignment first led merchants to believe that the market must bVeak. The absence of competition among sellers, however, and the fact that most merchants on the spot are operating from hand to mouth, have combined to keep the market steady. With two produce boats due next week a drop in price is anticipated in many quarters. The selling end appears to be fairly well controlled, however, and the future is hard to forecast. The market fully warrants merchants’ present through store quotations of £8 15s to £9 a ton. Onions in Short Supply Stocks of onions have shrunk into a very short compass during the past week or so, and provision for near future needs is giving merchants- considerable concern. The season for Japanese is finished, advanced quotations from Sydney for the few available placing them out of the question. 'A small shipment came down on the Aorangi from Vancouver and went into immediate consumption. The Wairuna to-morrow brings the first substantial shipment of American onions. These were mostly sold to arrive, but portion of the shipment has been selling freely at up to 20s a sack and 22s Cd a crate for small lots. Resales have been made showing a profit of up to 6s a crate on the original purchase price. The quantity of onions booked for future delivery is reported to be very small, and there is every indication of the marekt remaining extremely firm over the next three months.

Maize Position Unchanged The position in regard to maize is unchanged and, with most of the forward contracts made with Gisborne earlier in the season completed, practically all the business being carried on at present is •with the Bay of Plenty. The cereal is still available down there for as low as 5s Id, but such quotations are scarce, and there is a general tendency to expect slightly better money. The strong competition from the Bay is causing Gisborne holders considerable concern and very gloomy reports are coming to hand from those parts. The general feeling there appears to be that the bottom has fallen out of the market and that they cannot expect- business until well on into the new year. Some are even of the opinion that portion of the crop will haVe to be carried oyer to next season. Certainly the heavy offerings from the Bay have hit the market to a greater extent than last year, and the position has been further accentuated by the opening up of the railway, allowing better facilities for distribution. The crop there, however, is not sufficient for a season’s requirements and an end must come, especially if Gisborne sellers are prepared to -meet the market. Indications are that supplies from the Bay will be available for two or three months yet, but that should not prohibit trading with Gisborne if sellers there are prepared to meet the market. Sales of small lots have, in fact, been made on a basis of up to 5s 9d on the wharf .during the past day or so. It must be remembered when sizing up the maize position that there will not be any outside maize brought into the country this year.

Oats Very Weak The oat market remains very weak. Through store Auckland B Gartons are offered at from 4s 6d to 4s 7d a bushel. Spot stocks of chaff are very low, but a shipment from Blenheim this week-end will bring relief. Through store quotations remain unchanged at £9 5s for good bright sample. A very firm tone is recorded in the market for wheat. Through store, Auckland, good whole fowl wheat sells freely at 7s 6d a bushel. Fairly heavy bookings of flour for shipment from Eastern Canadian ports have been reported over the past week,, the very low freights making the landed price compare more than _ favourably with the local market. Produce Boat Movements

The Kartigi, with Southern produce, arrived in Auckland last evening. The Katoa, from Bluff, left Lyttelton last evening for Wellington. The vessel is due here on Mon^y. The Wingatui completed loading in Dunedin on Wednesday and left for Oarnaru, thence Timaru, Lyttelton and Wellington. The vessel is due here on Thursday next. The Kaiapoi, from Wellington and Picton, is due here to-morrow. The Wafpiata, after overhaul, left Auckland for the south last evening. The vessel loads at Duendin on Wednesday next, thence Oarnaru, Timaru, Lyttelton and Wellington. The vessel is due here about the middle of the following week. The Wairuna, from the Pacific Slopes, via Apia, is due here to-morrow. There will be no direct Sydney boat to Auckland next week. The Kaitangata, from South. Australian ports and Melbourne, is due here via. South Island ports on Saturday week. HUME PIPE, OF AUSTRALIA A profit of £69,229 was earned by the Hume Pipe Company of Australia for the year ended June 30, compared with £6O,SS4 for the previous year. Interim dividend at the rate of 8 per cent, per annum is to be supplemented by a final distribution of a like amount. DAIRYING INDUSTRY The butter-fat return and pay-out to be made to suppliers to the Northern Wairoa Co-operative Dairy Factory on September 20, for August supplies, is as follows:—Butter-fat, 106,394.401 b; pay-out, £7,540 19s 2d, at the rate of Is 5d a lb. The figures for the same month of last season are: 98,462.421 b; £6,564 12s lid at Is 4d a lb. The figures for the season to date are:—Butter-fat, 214.544.401 b; pay-out, £ 14.93 Sss lid. The figures for the same period last year are: 156,202.301 b; £12,415 6s 9d. MINING NEWS MAORILAND.- I The manager reports: •‘During the week we have stripped down more quartz of good grade, showing gold freely. A ton of ore has been forwarded to the Thames School of Mines for treatment.” HAURAKI. —The manager reports: “At the 180 ft level of the Union beach shaft, driving on the cross reef to reach its junction with the Stockwood reef, has been advanced 10ft for the week, leaving about 30ft to reach the estimated position of the junction. The country rock is very favourable for gold, and the mineral seams are similar to those where the gold was got at the same junction at the 400 ft level. The 12-inch draw lift is about completed, and it is expected to start lowering it away in a few days; in the meantime the bailing tanks and Cameron pump are easily holding the water.”