TRADE IN PRODUCE

Sun (Auckland), Volume III, Issue 677, 31 May 1929, Page 10

TRADE IN PRODUCE

AMPLE POTATO STOCKS MAIZE MARKET QUIET Sun Office, 9 a.m. ! Little movement of outstanding note has taken place in grain, seed and produce circles over the week. The heavy shipment of potatoes j which arrived on the two Southern j produce boats at the beginning of the j week relieved the shortage, and the j market is now steady, with merchants j asking from £S to £8 10s, through j store, according to quality and the price at which the tubers are credited on individual books. Two further shipments due early next week should carry the spot market along until well into the following week. It is reported in some quarters that up to 13,000 sacks will arrive, but nothing definite in this respect can be obtained until the actual shipping figures are available. The market in the South is very steady. Inquiry far Seed Potatoes Arrangements are now being made to have supplies of seed potatoes on the spot when sowers of the early spring crop com© on the- market toward the middle of June. Even now merchants are receiving orders from the country. Onions continue to meet with a weak market, and regular consignments are coming forward from the South. On the spot, merchants ask from £8 10s to £9 through store. At the moment, it appears that there are still ample stocks held in the South. Actually what quantity is held down there is difficult of assessment. The market for oats has a decidedly firmer tone, and in the South prices show an advance of Id to lid over the week. Spot quotations are practically unchanged at the moment, but next week’s demands for B Cartons are expected to be firm at 4s 6d a bushel. A’s are 3d dearer. The chaff market is quietly firm, with Southern sellers asking a few shillings above the present parity for June deliveries. Through store, on the spot, merchants ask £9 10s a ton. Wheat Market Easier

Although spot quotations for fowl wheat show little alteration, the market in the South has eased over the week. Reports to hand indicate that millers have fulfilled all immediate requirements, leaving a surplus, which has been thrown on the fowl wheat market, and tended to bear prices. The weak world position, which is causing so much concern overseas at the moment, is not expected to affect the Xew Zealand market, which is protected by an insurmountable tariff wall. Little movement has taken place in the maize market over the week. The excitement of the previous fortnight has subsided, and merchants are more or less taking stock, having in view the fact that all indications are that the first of the new season’s cereal will bo offering freely by the third week in June, two to three weeks earlier than was at first expected. Maize for railing about June 20 is offered at 5s Gd f.0.r., Bay of Plenty stations. The long-awaited “Shipment of Australian pollard is expected over the week-end. This will relieve an extremely bare market. Ample stocks of bran are held on the spot. Merchants ask 10 6d to 10s 9d a cwt through store for pollard, and 8s Gd for bran.

BANK OF ENGLAND RETURN (L nited P.A.—By Telegraph—Copyright j Reed. 9.5 a.m. LONDON, Thursday. The following is the Bank of England return:—• Issue Department Notes issued in circulation .. 360,106,553 In bank department 62,360,7Q8 Government debt 11,015*000 Other Government securities 236,205,655 Other securities 7,945,442 Silver coin 4,833*,773 Amount of fiduciary issue .. 260,000,000 Gold, coin and bullion .. .. 162,467,271 Banking Department Proprietors’ capital 14,553,000 Rest 3,252,573 Public deposits 24,340,708 Other deposits, bankers .. .. 56,349,043 Other accounts 35,268,620 Seven-day and other bills .. s]36B Government securities .. .. 40,031,555 Other securities, discounts, advances 8,151,163 Securities 22,422,917 Notes 62,360,60 S Gold and silver coin 502.669 The proportion of reserves to liabilities is 54.40 per cent. Short loans are quoted at 45 per cent., and three months’ bills at 5 11-32 per cent. WAIHI MINING CO. (Special to THE SUX) WAIHI, Thursday. The following information has been cabled to the London office of the Waihi Gold Mining Company;— No. 9 Level.—North leader crosscutting south at 100 ft; The first Oft is country rock and the last 6ft reef assaying 12s 3d a ton. We have driven to the east on this 21ft, the assay value being 20s 6d a ton. No. 10 Level.—Martha Lode: At 70ft down Cow winze we have driven west 31ft in good quality ore. Dominion Lode: At 57ft down McNamara winze we have driven west 45ft in good quality ore. No. 10 Level: At 257 ft in Lowrie crosscut the north leader was intersected, width 7ft, and assay value 2s 3d a ton. WHEAT DUTIES QUESTION Press Association WELLINGTON, Today. The Hon. G. AN'. Forbes, Minister of Agriculture, states that the present wheat duties will be considered next session by a select committee of the House.