POTATO MARKET STEADY

Sun (Auckland), Volume III, Issue 669, 22 May 1929, Page 10

POTATO MARKET STEADY

POSITION IN CANTERBURY Press Association CHRISTCHURCH, Tuesday. Practically the only market attracting notice at the moment is that for potatoes. Timaru merchants are quoting 2s fid a ton lower than the rates operating last week, or £5 5s for prompt delivery and £5 7s fid for June. Only one more boat is scheduled to leave for the, North this month, and the easing no doubt is due to efforts of oversellers to depress values. A tremendous quantity of “paper” potatoes exists, and probably a big proportion of the business done will fade out in cancellations. It is singular, in view of the slacker tone mentioned, that Auckland offers show no change on week-end quotations. Offers of £5 7s 6d, for the Waipiata’s shipment on Saturday, and £5 10s, for the Kaituna’s this evening, have been received. Supplies are steadily proceeding northward, the week ending May 13 recording the dispatch of 10,453 sacks. The Waipiata’s consignment on Saturday included 3.900 sacks of this quantity, in addition to which the vessel took 1,600 sacks from Timaru. The Kaituna leaving tonight, is expected to take approximately 3,800 sacks. As digging is proceeding evidence of blight is becoming more pronounced, and most observers will be surprised if the yield is not a ton to the acre less than the average in recent years. Onions have slipped in price and from !_ 4 to £ 4 ss, on trucks, is quoted. Advice has been received from Sydney that the Karetu’s shipment averaged from £8 to £lO a ton. some good quality being sold at £9. The shipment was too large to be dumped on the market. Had it comprised from 4.000 to 5,000 sacks the probabilities are that another £2 a ton would have been made out of the consignment. No alterations in the value of seeds and grain are to be noted. These markets are very quiet, that for oats being especially so. CANNED SOUP INDUSTRY Molding sole rights over the tolieroa bi ds on the Ninety-mile Beach. Northern Canneries, Ltd., are offering by advertisement in today’s Sun, 15,000 preference shares bearing a cumulative dividend of eight per cent., and sharing equally with ordinary shares in all dividends paid in excess of eight per cent. Mr. M. H. Wynyard is ghaimufn of directors, and the company has for some time been marketing with success “Tiki” brand canned toheroa soup. The brokers handling the issue are United Brokers. Ltd., Horne's Buildings. Vulcan Lane.