COMMERCIAL.

Timaru Herald, Volume CXXIII, 19 March 1926, Page 10

COMMERCIAL.

i AUSTRALIAN MARKETS. I By Cable —Fre»e Association —Copyright. Australian and N.Z. Cablo Aaaoeiai.uu (Received March 18, 11.30 p.m.) SYDNEY, March 18. In consequence of the firmer tendency of overseas wheat markets, local buyers have Increased their offers for wheat to 5/3 bagged, 5/1 iii bulk, at country sidings. Farmers are selling a little more freely. Oats.—Tasmanian, Algerian 5/-, white 6/-. -i. Maize, 6/6. Potatoes.—Tasmanian £ls to £l7 10s, Victorian £l4. Onions. —Victorian, £2O. / ADELAIDE, March 18. Wheat, growers’ lots 5/6 to 5/6J, parcels nominally 6/1. Oats, 3/- to 3/3. WHEAT QUOTATIONS. By Cable—Press Association —Copyright. Australian and N.Z. Oabla Association (Received March 18, 5.5 p.m.) NEW YORK, March 17. Chicago wheat quotations are: —May (new), 162 g cents (old), Kill cents; July, 141 g- cents; September, 1 35g cents. RISE IN ST. BATHANS STOCK. By Telegraph—Press Association. DUNEDIN, March 18. The St. Bathans Gold Mining Company struck a lead showing rich colour at its workings yesterday. A report from the mine says that altliougn ■ the true values or thickness of the lead cannot yet be ascertained, samples taken indicate that there are over two ounces ot gold per cubic yard.

Tho news brought about a sharp rise in the price ol shares on the [stock Exchange, and whereas both issues couhl have been bought at 2s premium yesterday morning, A’s rose to 8s 3d and B’s to 8s 7d this afternoon.

STUD SALE AT WAIHAO DOWIs T S. Messrs Pyne, Gould Guinness, Ltd., in conjunction with Messrs Dalgety and Co., Ltd., report having held a displenishing sale, on account of Mr Isaac Andrew, at Waihao Downs, of his well-known stud Corrieda.lo flock. There was a good attendance of farmers from the surrounding districts, with a few stud breeders, but unfortunately the number of outside buyers was limited. ' The studs met with a good sale, but although opening well, soon tapered off as soon as the local demand was satisfied. As the progressed, prices fell to a point which did not just ifv the owner in sacrificing valuable sheep, with the result that the major portion of tho flock sheep had to be withdrawn from sale. onl Stud rams sold at 44, 40, 30, -o}, 21. 17*. 17, IC, 15,13, 12, 11, 10,,7 and 6 guineas; stud ewes at 15,. 14, 13, 10, 9, 12, 74, 7 and Q guineas; stud rams at 14, '> G and 5 guineas ; stud owe lambs sold at 74; 5, 44, 4 > 3 , 2 * BT e “i flock ewes at sf, 3, 24, and -3 guineas; flock rams at B*, G 5 V and 5 guineas. . - 'The second day’s sale comprised horses, implements and sundries, and these met with a ready sale. Horses sold from £27 10s to £6O .bullocks a.p to £l7 10s, heifers £G 10s to C 9. Implements were readily disposed of at full market rates. Ow.uk to £. e narativo failure of the flock sale, iur Andrew unavoidably, had to hold over a. considerable portion of his horses and farm plant.

THE LOCAL MARKETS,

The flutter on the potato ™h rk ®*- still continues, and quite a. nunmei of sales to Australia have been m.ulo during the week, with the 'f 11 ' 1 tki .“ the market has again firmed day business was a little quietei ov n„ to the reports of good ranis in Australia, and iv the fact thnt S.une.v merchants v«e endeavouring to bung the market down. .The rain, however, is too late to improve the Australian crops to any material extent. Tho market to-day may be said to De still firm, though quieter than it "'as To-dav’s values are £G los to £7 pel ton, "on trucks, . sacks in, for good white tables; other sorts are not inquired for. Auckland has displayed no interest yet, as a purchaser, but it is understood that the Pukekohe ciop is almost finished, and that very soon Auckland will have to come on the market for large supplies. The crops in South Cantorbui-y are still growing, and very few potatoes will be offered from the country before the latter end of April. Tho oat market is quiet and prices have an easing tendency. A’s are quoted at 4s, and R's at 3s 9d to 3s lOd, on trucks. • In sympathy with oats the chaff market has eased, and good bright is to-day quoted ’at £5 5s to £5 10s oil trucks, sacks found by buyers. Partridge peas'are not offering very freely yet, from the country, and on this account merchants are obliged to pay a little more than the export vaiue, to cover their forward commitments. For No. l’s the nominal quotation is Gs 3d. Tho barley market remains unchanged, hreweas contenting themselves with contract supplies. Tho nominal quotation is 5s on trucks. Very few lines of linseed are offering, and in tho absence of business it is not possible to give reliable quotations. It may be said, however, that on the cost of the imported seed, the

value of locally grown would bo about £l3 per ton, ou trucks. There is nothing doing in ryegrass, and values remain unchanged. Further sales of wheat have been made during the week on the basis of the prices fixed by millers, namely, 6s Ba, Os lOd, and 7.s f.0.b., sacks extra, some growers being more inclined to dispose of their holdings now, in preference to taking the chance of what may happen in the future. Unfortunately lor any growers who threshed their wheat in bad condition, the fowl wheat market is dull, and 6s 6d to 6s 7d f.0.b., is to-day’s value of this kind of wheat. Some farmers unwisely threshed from stack before the wheat was in proper condition, with the result that they are now obliged to hold the grain in the paddocks to allow it to recover. In some cases it is too soft ever to reach milling standard.