COMMERCIAL.

Temuka Leader, Issue 1882, 23 April 1889, Page 4

COMMERCIAL.

TIMARU MARKETS,

At auction in Timaru on Saturday oats were in good demand at 2s 5d to 2s 7d for Danish, milling 2s 7d to 2s B|d. A line of inferior oats was sold at Is 3d, Is 9d, 2s Id per bushel, fowl wheat 2s 3d, 2s sd, 2s 9d per bushel, cocksfoot per lb,, rye grass seed 3s 3d per bushel, potatoes 70s per ton, barley 3s to 3s 6d.

The Canterbury Farmers’ Co-operative Association, Limited, report aa follews : Wheat—The downward tendency of the market noted in our last report has continued throughout the fortnight, and as we write prices show a decline of Id to 2d per bushel on last quotations. Sydney advices have not been of so encouraging a nature as was expected, that market now being overstocked for the time being. We do not, however, look for any permanent fall in values, in view of the enormous quantities which New South Wales will have to import, and which will be sufficient to absorb the whole available surplus from New Zealand, and two or three million bushels more. Locally there is not much doing, millers being careless about operating except at prices which owners do not at present care to accept. The Wakatipu, to sail for Sydney next, will take some 7000 sacks from this port. Our quotations are: —Prime milling velvet and tuscan 3a 9d to 3s lOd, red chafE 3s 7d to 3s Bd, squarehead 3a 6d to 3s 7d, whole fowl wheat 3s to 3a 3d, broken do 2s 6d to 2s 9d. t

Oats—We have pleasure in recording a further advance in prices, chiefly | caused by speculative purchases. J Considerable quantities have changed hands during the fortnight at' gradually hardening rates, and we could now place a few thousand sacks at quotations. Comparatively few oats have as yet come forward on owners’ account, and as the demand is likely to be steady, all lines offering will no doubt be readily absorbed. Our quotations are:—Prime milling 2s 9d, good short feed 2s 7d to 2s 9d, bright heavy Danish 2s 6d, fair average 2s 4d to 2s 6d.

Barley There is little or no enquiry for this cereal, maltsters continuining to hold of in hopes of lower prices. Our quotations are: —Prime malting 3s 3d to 3a 6d, feed 2s 6d to 3s. Potatoes —A few lines of Derwents are in the market, for which owners ask 80s per ton. This price prohibits export business, but as it is somewhat doubtful whether supplies will be more than sufficient to meet local requirements, we do not anticipate any material fall in prices. Butter—Prime fresh 9d, kegged Bd.

The New Zealand Farmers’ Association, Christchurch, give the following quotations, under date 15th instf.o.b., sacks extra 7s 6d per doz:—Wheat (prime Tuscan) 4s Id, velvet 3s lOd, hunters 2s 9d. Oats— Milling Canadians 2s 9d, short feed 2s Bd, duns 2s 6d. Barley—Prime malting 3s Bd, medium 3s 4d, inferior 8s 2d to 3s 4d. it AUSTRALIAN MARKETS. Sydney, April 19. The Sydney Morning Herald says unnecessary holding back of New Zealand grain is not the best policy. If persisted in it will lead Sydney buyers to look to San Francisco, and even India, for, supplies, in which case New Zealand will have competition to face later on that will be very prejudcial to her interests. Melbourne. April 19. Wheat is quieter at 5s 8d to 5s 9d ; New Zealand barley, to arrive, has been- sold at 5s 8d to 5s lOd. ENGLISH MARKE I’S. London, April 18. New Zealand frozen mutton is unchanged. Beef, hind quarters, per lb ; forequarters, B{d to 4dper lb. New Zealand butter by the Tainui and Kaikoura realised from 60s to 90s per ewt. The cheese shipped by the latter brought 46s to 52s per cwt. America takes 4000 bales of wool at tho present auctions. The visible supply of sugar is estimated to be 350,000 tons below last year. April 19. New Zealand 4 per cent inscribed stock, lo3f ex dividend; market active, Australian wheat is quoted at 39s 9d; the market is weaker- New Zealand is quoted at 395, and the market is quiet. The market for woolled sheepskins shows a slight rise as both Home and Foreign buyers are eager to purchase.

For Australian wheat, new crop on passage, buyers offer 36s 6d, and for New Zealand cargoes on passage, 34s 9d. April 20. Tallow, best mutton, is quoted at 26s 6d io 27s ; best beef, 25s 6d to 265. The Endiah Dredging Uompanj 7 , known as (he blow Zealand, Limited, has ordered a large Welman dredging plant for (he Three-mile Beach, West Coast. This step*, is taken in consequence of the success of the Welman dredges in this kind of working. The sitting of (be Supreme Court at Blenheim, which commences on Wednesday, premises to bo interesting, the Bank of New Zealand sues a loading merchant for close upon £IO,OOO, and there is an action fur slander against a bank manager, the damages being laid at £SOO. The criminal calendar is a light one.