COMMERCIAL.

Temuka Leader, Issue 2715, 22 September 1894, Page 3

COMMERCIAL.

CHRISTCHURCH MARKETS.

The New Zealand Farmers’ Co-opera-tive Association of Canterbury, Limited, report for the week ending September 21st, 1894, as follow: — . . Business in grain and produce during the week has been inclined to dullness. Farmers generally are making good progress with sowin'g operations, and consequently country deliveries are very light. Wheat has steady business and coastwise demand continues to absorb fair quantities. Pearl and velvet are in keen request. Xu connection with Australian importations, it is recognised that while there is little to fear from wheat, the New Zealand flour trade may, owing owing to the low prices ruling in Australia for flour, be seriously impaired by the importations of flour. At 2s 3d f.o.b. Melbourne, wheat cannot be landed in the colony under 3s per bushel, —the freight costing 3d per bushel, duty 5 id, and insurance and exchange -Jd, 'and judging from the bulk already received a further allowance which may be estimated at about 4 per cent, must be added to cover loss in weight through darnel, wild oats, etc., the wheat being stripped containing a large percentage of these seeds. Flour on the other hand at £5 15s f.o.b. Melbourne can be laid down at main ports at freight 10s, duty 20s, insurance and exchange say 2a 6d £7 7a 6d per ton, and this being so millers must face the competition which is injuriously affecting the values of wheat in Canterbury. Oats have rather more attention and shipments of prime quality to English markets are being resumed. Other cereals are without alteration. Ryegrass and cocksfoot trade for spring sowing is almost completed, and stocks in dealers hands are almost nominal. Clover seeds offerings are now lighter and prices are firm. Potatoes for early deliveries have been dealt with at a slight advance on recent rates, but there is little speculation and prices are still most unsatisfactory to growers. Dairy produce is in -better supply and values easier. Present quotations, f.0.b., Lyttelton, sacks extra;— Wheat —Prime milling pearl, velvet, and tuscan, 2s 9d to 2s lOd; hunters, 2s 9d; second class, Id to 2d per bus less. Oats—Seed or milling Canadians, Is 8d to Is 9d; short feed. Is 6d to Is 7d ; duns, Isfljd to Is 7£d ; danish, Is 5d to Is 6d. Barley—-None offering. Prime malting, nominally, 3s 8d to 3s lOd; medium, 3s to 3s 6d. Peas —Blue Prussians, 2s 6d to 2s 9d ; partridge, 2s 7d to 2s Bd. Beans—2s sd. Potatoes—l6s to 18s at country stations. Ryegrass—Machine - dressed, 4s 6d; ordinary, 4s; farmers’ undressed samples, 3s to 3s 6d. Cocksfoot —Machine- dressed, 5d to 6d; ordinary, 4d to sd. Red Clover and Cowgrass—6d to 6}d. Cheese —Large, 4|d; loaf, sd. Butter —Prime fresh, 9d ; salt, 7d. Bacon and flams—7d, Oaten Sheaf Chaff— 55s to 57s 6d, sacks included.

MONETARY AND COMMERCIAL,

London, September 18. At the wool sales 17,300 bales were sold. There was a good attendance and competition was brisk. Scoured wools are unchanged, but other sorts are from par to 5 per cent, above the rates ruling at the July sales. Good crossbreds show the greatest rise. The Maori King’s second quality bullocks brought from 4d to per lb. It is expected there will be heavy tendering for the New South Wales loan, which is now quoted at a premium of £1 to £1 ss. September 19. The Times estimates that it cost £l6 each to land the Maori King’s cattle exclusive of insurance, while they only realised £16145. To make the traffic pay it would be necessary to send five to eight hundred, in order to reduce the freight and cost of fodder. It is absolutely useless to send cattle in a store condition.

The quantity of wool available for the next series is 285,000 bales. The present prices compared with the J uly rates for merino and crossbred is par to 5 per cent, higher. The total quantity of wheat and flour afloat fortheUnitedKingdom is 2,350,000 quarters, and for the Continent 1,270,000 quarters. The American visiole supply of wheat is 86,500,000 bushels. Bank of New Zealand shares, new, £3; old, £2. There were but few American buyers at the wool sales, but more are expected daily. Mr Valentine, the New Zealand dairy expert, in view of the present stock of butter in London, the increased production, and the inadequate system of distribution, urges that some better method of distribution, based on a joint action of all the colonial producers should be adopted.

At the Wool sales opening rates remain firm, Competition has improved, especially iu better classes. Paris, September 18. The French wheat crop is officially estimated at 93,300,000 quintals.