TRADE IN PRODUCE

Sun (Auckland), Volume IV, Issue 1075, 12 September 1930, Page 11

TRADE IN PRODUCE

POTATO MARKET FIRMER. S ONLY A TEMPORARY MOVE | Sun Office, 9 a.m. Potatoes continued to be the centre of interest in grain, seed and produce circles. The spot market has a slightly firmer tone at the moment. Due largely to a temporary shortage on the spot, the market for potatoes in .Auckland has improved during the week. Whereas ton days ago good table potatoes could bo bought for 00s on the Auckland wharf, it is now difficult to buy at L’T.s above that figure. The only produce boat from the South this week brought a few hundred sacks, instead of the usual 6,000 or so sacks, shippers down there seemingly all coming to the one view at the same time —that on account of the weak market in the North it was useless sending lots forward on consignment. The result has been a scarcity here. Small Shipments Only one boat is scheduled for next week, and that also is not expected to bring a big quantity. Holders of dear potatoes in Auckland, forecasting the position a week ago, bought in all the : cheap potatoes on the wharf to even ! up, and can now hold the market at I f G 10s to £6 15s a ton. For the next j week or so until the South wakes up : to the position and heavier shipments como forward again. The Southern market continues very weak, and the opinion that sellers down there will have difficulty in disposing of tlio balance of the 1930 crop is gaining support. Californian Onions Selling Freely Stocks of Pukekolie onions are practically exhausted, and the spot market is dealing principally in Californians, which are selling through store at 20s a bag and 21s a ease. The Wairuna brought a fresh shipment this week. A few Canadians came down on the Niagara. Stocks of Australian onions are very light, and it is not expected that any more will be brought over this season. The oat market is very weak in the South, but the loss of strength has not had lime to influence prices in Auckland to any great extent yet; quotations for li Cartons range around 4s 10s a bushel. A’s sell at 5s a bushed Fowl Wheat Firm Fowl wheat remains very firm, and merchants’ spot quotations are unchanged at around Ss a bushel. Heavy deliveries of maize continue to be made on a basis of direct railing from the Bay of Plenty to South of Auckland stations. The price down there is unchanged at 4s 1 HI a bushel Cisborno shippers also hold a nominal quotation of 4s lid a bushel, although the market has a slightly easier tendency. The price on the Auckland wharf is steady around 5s Gd a bushel Tasmanian Chaff Shipment Held Up Spot quotations for chaff are unchanged. A shipment of Tasmanian for the Auckland market has been held up on account of the strike. Southern chaff sells through store on the spot at £lO 10s a ton; Tasmanian is quoted at £lO a ton. For the first time for many years imported pollard is under-selling New Zealand-made pollard on the Auckland market. The Australian market has shown further weakness during the past few days. At the moment merchants are quoting Australian pollard at £9 5s a ton, and local at £9 10s a ton. J3ran is meeting with a steady demand ! which is being met by the local mills. | Through store the price is £8 10s a j ton. N.Z. PERPETUAL FORESTS REPORT TO BONDHOLDERS QUESTION OF PULPING The animal series.of reports to bondholders in New Zealand Perpetual Forests. Ltd., has been issued. That on finance and operations as at AI arch 31 shows that 125,630 ionds for various j amounts from £25 to £45 have been : subscribed, the total amount represented being £3,454,922 10s. Accord- ' ing to the company’s balance sheet, i published in May, the amount out- ! standing in respect of bonds was • £751,986. A statement is appended of the investment of the trustee reserve | funds, amounting to £459,924 17s. In the course of his report on an inspection of the plantations made during December and January, Sir Herbert Matthews says the growth made by the trees since his previous visit in 1926 was incredible. Referring to meetings with directors of the trust company, he says: •’The question of the realisation of your plantations to the best advantage is being taken in hand with energy and broad vision. 1 forecast the employment of a large amount of labour when pulp mills and other subsidiary industries are established in years to come, anti my general impressions, as the result of all I saw and heard, are entirely favourable.” The report of the trust company, which is signed by Messrs. A. C. Morley and J. M. Melville, includes a statement that with a view to the ultimate idealisation of the forests, the parent company has authorised the trustees to have a topographical survey made of the properties. This has been proceeding for nine months —die report being dated January 29 —and will proceed until completed.

The trustees have given the matter of the ultimate disposition of the forests serious consideration and “have come to tho conclusion that the bulk oi the plantations can be most efficiently sold for pulping purposes. It is not desirable to disclose tho trustees* deliberations upon this point,” the report adds. “Sufficient to say that the mutter is . now engaging their serious consideration.” ROTOWARO PROGRESS CARBONISATION PLANT No delays of any consequence have occurred in the erection of toe large coal-carbonisation plant at Rotowaro for the Waikato Carbonisation, Ltd., and it is understood the plant will be ready for operation early next year. A European engineer is expected to arrive shortly to attend to certain parts of the apparatus. Mr.: W. G. Heptinstall, general manager, and Mr. A. Finkbeiiner, are directing the 46 men who are employed on the work. Most of the plant arrived in April but excavation of the site was started in February. Because of the great weight of the plant, massive foundations were needed, which made necessary an unusual amount of work below the ground level.

The foundations of the briquetting plant are now being laid, and the steel fra mo of the condenser house has been erected. Bins for briquettes will be constructed later. Tenders are being called for bins to contain SOO tons of slack and for the aerial tramway, which, will take slack to the plant front the Pukemiro mine.