THE PRICE OF WHEAT.

Taranaki Daily News, Volume L, Issue 61, 16 October 1907, Page 2

THE PRICE OF WHEAT.

CONTINUES TO ADVANCE. X'er Tresa Association. Dunedin, Last Night. Tlic whoat market continues to advance, and several thousand sacks of wheat sold to-day at a price equal to !is Sid or 5s Oil, delivered in Dunedin, which "is the highest price recorded for many years. It is stated that any further rise in the price of Hour will necessitate an increase in the price of bread to 8d per loaf. . FLOUR STILL RISING. Per Press Association. Wellington, Last Night. By reason of the rise of an extra_ £1 per ton made in the price of flour yesterday, the price f.o.b. at Southern ports lu'comes ,'.13 per ton, and the cost, to 'Wellington purchasers runs out at £l3 15s per ton. It was thought that the £2 per ton increased price that has gone on since the Wellington bakers raised the price of bread to 4d the 21b loaf would result in an immediate further rise, but inquiry made elicited the information that it was not intended to make any increase for the present, there bein« a hope that the present excited state of the flour market was only transient, and that later developments in the great wheat-growing countries might ease the strain. In the House of Representatives yesterday afternoon Mr. Okey gave notice to ask the. Government if they will pass an urgent, measure empowering it to tißce the duty off flour, the price of which is becoming prohibitive. Says the Dunedin Star of Saturday last:—Owing to the remarkable combination ot crop failures in all parts of the world, the price of wheat is expect ed to go to a higher level than for many years past. The 'German and Russian harvests are turning out very much helow the average, 'whilst in Great Britain the yield is small. The Canadian crop promises to be a failure. The outlook in the United States is not too good, and on top of these disasters comes the news of a prospective failure in India and an expected drought in Aufitralia. In conversation with a leading miller J [ this morning we learn that all this pre- ! sages an extraordinary shortage in ■ wheat during the season now commencl ing. . Already, the price in London is f 43s per quarter, or over 5s per bushel. • In Melbourne wheat stands at 5s per i bushel, and the price in Dunedin to-day - is from 5s 3d to 5s 6d, or over £1 per s bag. Under these circumstances the ) public may expect to pay still' higher i prices for their wheat and breadßtuffs. ■ This unfortunate state of things has 1 been brought about, not by any artifi- • cial trade combination, hut by a series ~ of purely natural causes, which disposes J of the idea current m some quarters 1 that the Millers' Association are taking e advantage of the duty question to in--6 flate the price of flour. It is stated that millers buying wheat and selling flour at to-day's prices stand to lose at least 10s per ton on-the tranaction.