GLUT OF POTATOES

Sun (Auckland), Volume II, Issue 565, 18 January 1929, Page 12

GLUT OF POTATOES

EXPORTS FROM N.Z.

SYDNEY MARKET SOUGHT While potatoes are extraordinarily dear in Sydney, and Victorian and Tasmanian producers are reaping big profits, markets in Auckland are glutted with supplies.

The lack of an outlet for the oversupply has led to talk of exporting quantities to Sydney. Such a procedure would mean the lifting of the Australian embargo on New Zealand potatoes, and some Sydney merchants favour a temporary suspension of the restrictions.

One Auckland firm of salesmen is hopeful of being able* to send about 50 tons of potatoes to Australia, but the fact remains that the greater portion of the potatoes being offered in Auckland is not suitable for export. Rain during the summer has had the inevitable effect of causing blight and rust. If the negotiations for permission to export reach a head, only moderate supplies of potatoes can be sent to Australia.

A leading Auckland auctioneer is emphatic on this point. He cannot see that the exports could be extensive.

BOOM RATES In Sydney, over 6d a lb is being paid for ordinary quality potatoes. In Auckland, prices as low as 2s 6d a bag are ruling. Retail prices are low, too. The Hon. G. W. Forbes, Minister of Agriculture, has received a reply from the Australian authorities regarding the request from Auckland potato merchants for permission to export. Ministerial consultations in Australia will be necessary. It will be some days before a decision will be made. Auckland merchants are eager to clear their surplus stocks. Good quality potatoes are suffering with the bad as far as prices are concerned, while the glut remains. The comparatively small supplies that would be sent to Sydney would be snapped up, and would relieve the unsatisfactory position in Auckland. In Melbourne the retail price for a bag of potatoes was as much as 30s a bag at one stage. Tasmania and Victoria are the largest suppliers of potatoes in Australia, but the output this season has fallen off considerably. ADVANCES FOR BUTTER-FAT N.Z. DAIRY COMPANY (Special*to THE SUN) HAMILTON, To-day. A decision has been made by the New Zealand Co-operative Dairy Company, Ltd., to advance to its shareholders Is 5d a. lb for butter-fat on cream supplied for butter-making for December, and Is 6d a lb for butter-fat on milk supplied for cheesemakign. MARKETS SLOW BUTTER AND CHEESE IN LONDON According to a cablegram, dated January 17, to the New Zealand Loan and Mercantile Company, Ltd., from its London house, the markets for New Zealand butter and cheese are slow. The choicest salted butter is bringing 185 s and 186 s; coloured cheese, 965; and white cheese, 93s and 945. Quiet sales are reported in a cablegram, dated January 17, to Norden and Co. from Andrew Clement and Sons, Ltd. Ruling. rates: Salted butter, 183 s to 185 s; unsalted, 1945. White cheese, 935; coloured, 955. CHICAGO WHEAT MARKET (Australian and N.Z. Press Association) Reed. 9.50 a.m. CHICAGO, Thursday. Wheat—March, 1 dollar 20 cents a bushel; May, 1 dollar 23 3-8 cents; Julv, 1 dollar 25 1-8 cents. MINING NEWS WAIHI.—The principal operations carried out in the mine during the fourweekly period ended November 17, 1928, were as follow:—No. 14 Level: Edward Lode—The level was widened to 10 feet from 66 to 113 feet south of Dunlop Crosscut No. 10 Level: Shark N.W. Crosscut is now a total of 590 i feet. Regina Section of Martha Lode: A drive has been commenced west on this at a point 600 feet in No. 4 shaft north crosscut, the object being to search for the possible downward continuation of the ore met in White crosscut at No. 9 level. No. 9 Level: Regina Section of Martha Lode —The east drive was continued to 401 feet, in a mixture of quartz and country. The average essay value from 16 to 40 feet is 34s 2d a ton. The western drive has been advanced to 89 feet. From 24 to 49 feet assays 40s lid a ton. The drive from 49 to 80 feet is in mostly country and quartz stringers, but at 85 feet there is quartz 5 feet wide assaying 44s Id a ton. Worthington N.E. Crosscut is out 1982 feet. At 187 feet the drive passed through a calcite reef 7 feet wide. At 180 feet, a crosscut was driven a few feet south, where a connection was made to the Grand Junction Company’s No. 5 level. At 21 feet south a further body of calcite 12 feet wide was met. Empire Lode: North section. west of power crosscut —The drive has been extended to 1262 feet, the average width during the period being about 5 feet. The assay value from 61 to 88 feet at 30s Id a ton. and from this point to the face the value is below' paying point. The face is very close to old workings and driving is stopped. HAURAKI. —The 400 ft. level was clear of water on January 8. The cause of the 400 plunger giving out while endeavouring to deal with the inrush of watei* from the seaward face is that the delivery valve piece has broken. A new piece is being cast; in the meantime the drawlift which was installed to replace the broken plunger is, along with some assistance by the baling tanks, dealing with the incoming water. The 400 ft. level has been put into working order again, and the rise to connect with the Union Beach section for ventilation has been timbered and rising resumed. There is about 25ft to connect. A start, has been made to cut out a chamber at the junction of the Cross Reef and the Stockwood Reef. This is the point where gold was got some time ago. So far, no reef has been taken down

MAORILAND CONSOLIDATED.—Since the holidays patches of gold which were missed in earlier workings have been seen.

OCCIDENTAL UNA.—During the holidays the machinery was overhauled and everything put in good working order. All ore on hand has been forwarded to the battery for treatment. Crushing at the Moanataiari battery finished on about 35 loads, . returning 470 z. 7dwts, value £l2O. The reef from which this last return was secured is about Bft. wide, showing colours and dabs of gold freely, and operations will be resumed on it southward from the shaft.

AUCTION NOTES

T. Melndoe and Son will sell at their rooms, third floor. Dilworth Buildings, on Friday, January 20. at 11 a.m.. a freehold factory site of nearly half an acre, having 71ft Sin frontage to Cook Street by a depth of nearly 300 ft. This property is only five minutes from Queen Street and

it. is suitable for builders’ storage yards, factory site, assembling shops for motor importers, or residential flats.