WAIKATO WHEAT.

Waikato Times, Volume 2656, Issue 2656, 20 July 1889, Page 2

WAIKATO WHEAT.

TO THE EDITOR Sin,— 111 answer to "Pro Bono Waikato. —I do not intend to be drawn into a newspaper war, hut will simply content myself with saying it is not true that I ha\e " steadily retused to buy Waikato wheat, because of the damage some of it sustained in the harvest." For about a month I stopped buying wheat, as the market was dropping day by day, and I do not, even now, intend to purchase largely till Hie bottom is touched. Can "Mr Pro Bono tell me what price that will bring up at.: Here is what my Sydney advices, received this week, state: Six months stock ol wheat and flour in store; market completely overstocked, and with five cargoes of wheat now en route from S.ui Francisco, together with the surplus existing m houtli Australia aud New Zealand, we fear a considerable quantity will have to be carried into the consumption of IS'JO. pean values preclude any possibility of shipments being made to that market. Prime Tuscan, 4s 3d to 4s 2d ; Hunters, 3s lOd ; Pearl, 3s Od ; California!!, 4s 4d." It costs lOd to lOid per bushel to sen-4 wheat to Sydney from Auckland. Deduct commission, freight, &c., lOd to 10.', d, and this gives the value here at 3s 3d to" 3s 3.jd. The Waikato Tuscan is not nearly so" good as last year, and the whole of it is more or less damaged, so that it is not worth that price ; yet, if something less is offered, the farmer feels insulted. I rices of good winter (sound, mind you), in Canterbury last week was 3s 3d, f.o.b. LyHelton, at which I bought. Add cost of carriage, &c., to Auckland, say 4d uer bushel, brings it to 3s 7d. Tims, if good, sound wheat cost 3s 7d, what is damaged worth . The whole matter is one of price, and I most buy in the cheapest market or shut up the mill. If the Waikato farmers will not sell at the same rate as I can buy at, thpy must only hold their wheat or send it to Sydney. I certainly am not going to purchase wheat in a falling market to piease anybody, but am buying from hand to mouth like all the millers are doing, both in this colony and Australia. —Yours &c., ft. ft. Hunt, Manager Avckland Roller Mills. P.S.—I have not seen any good Waikato wheat this year; perhaps it is kept for the local mills.