COMMERCIAL.

Gisborne Times, Volume XXVI, Issue 2152, 30 March 1908, Page 4

COMMERCIAL.

The heavy floods 'last week .have been of serious consoquenco to fanners in the Poverty .Bay clistirot, many los iny; sheep and cattle through their getting tin to the crooks ami being carried away. 'L'he turnip crops are now showing avell, and There promises to be no shortage of winter food. Tiho depression in the wool market will have a serious elfeet on farmers, .ami there seems no immediate prospect of values improving. Various reasons are given for the depressed market, but the ‘‘Sydney - ’Wool and Stock Journal,” which may bo regarded as an authoritative source for information, declares That,'the degression in the Continental trade has boon brought about- by dear wooL purchased early in tiho season, and that it is probable that until this has been dealt with, and settlements for losses adjusted, no revival can ho experienced. -It lias been stated, says the paper in, question, that losses incurred on early purchises in Sydney -will amount to over £2,500,000, and as the major portion of this will fall on the shoulders of the Continental trade, it is not -surprising that great depression should prevail. As regards the wool -trade in Great Britain the position, it is dcola redr is ,probably sounder it-lian on tho Continent, owing to tho fact that the buyers for that market exercised more caution when prices -wero high, and tiie.ir. purchases were generally on a comparatively cheap 'basis. Crossbreds - have been a- disappointing .feature of the London February sales, for while the finer qualities of greasies aro practically unchanged, tho medium and coarser qualities have further depreciated materially, and the opening decline of 5 per cent, becamo moro accentuated as tlio sales progressed, .and, although t-liero -was a slight -ral]v, .t-lio declino on tho aver-ago must bo recorded as 10 per cent-, oil tho coarso and 12J per cent, oil .tho medium descriptions.' Hams intended for uso during tho next -few weeks should bo kept well, in order that they may enter -upon their duties in hard condition. Kept on grass only, they are liable to lose condition very rapidly during tho tupping season. Any hard -feed, such as oatshcaf chaff, bran and chaff, or even hay, will help them very considerably, and will prevent them feeling tho season unduly. The price of stock has been -well maintained at the local markets. Fat owes 'averaged 12s 'at the last sales, and a few choice pens went as high as 13s lid. Beef reached 21s per 1001 b. which is -a -good price, for this time of tho year. There is a good demand in the .Home market for lambs, and an upward -tendency in the price of mutton, but sales of beef are reported as slow. Southland and North*lsland sheep are quoted at 3§d for medium and to 3Jd for prime quality. Canterbury lamb is quoted at from 54d to ssd, and New Zealand beef 3jhl. ' , , The butter market is firm at late rates, mime New Zealand being quoted at'll3s per cwt. There is a reported shortage in the .local market on account- of flic -large shipments Home, and a number of factories in the Auckland province are closing down. The export trade has dropped considerably during the last month on account of the ehort milk supplies occasioned by drought ; but the heavy shipment of'stocks when the market touched the top figure can generally be assigned as the cause, of the position. Locally butter is worth Is 3d to Is 4d wholesale, and cheese 5d to (ijd. - - . _ . There is very little -grain ottering in the Southern markets, .and new season’s wheat is quoted at from as 3d -to 4s -Id a bushel, sacks extra. Flour is £ll per ton in Auckland, which mates that commodity worth about £l2 2s Gd-landed in 'Gisborne. Chaff of good quality is worth from £4 to £4 'los, the supply being hardly equal to the demand at that price. Cocksfoot and ryegrass seeds are in demand. T'ho former is quoted at 7d per lb, and rye 5d to 5Jd per lb.

STOCK REPORT.

The New Zealand Loan and Mercantile Agency Company, Limited, report on stock sale held on Thursday, 26th dust.: — The weather was very bad, and the attendance anil yardiiigs were much smaller than usual. Sheep: The bulk of our entry was prevented from coming by the rivers and the wet weather/ However, the sheep that did come forward found buyers and good competition at .prices which marked an improvement on recent rates. We yarded 002, and sold all under the hammer at following 'prices :—Ewes, mostly 4-yea-r----bld, 11s" Id; 4 and 6 tooth and i'ulllnoutli ewes 125,-.4 and 6 tooth wethers 13s 7d, fat owes 12s. Cat-tie: We yarded about 100 head, but with lie demand for tho descriptions entered; the only sale appeared to be for grown steers. Pigs: We sold porkers at 24s 6d. We draw special attention to clearing sales to ibe held on account of Mr. Clark on Monday, 30th inst., for cattle’.'at .Ma-tawhero yards, and on Wednesday, Ist April, at tho Te Arai homestead, for sheep, horses, and plant. Tills sale as advertised will bo conducted without reserve. Usual sale will be held at the 'Matawliero on Thursday, 2nd, .for which wo have a considerable entry already on our books. Messrs Williams and Kottle Ltd. yarded about- 50 light horses at Wyllie’s Bazaar on Saturday. A large number of buyers were present, but high prices were not reached and tho owners values being thought excessive a number of lots were passed in. The best of the lot were a half a dozen nice looking freshly broken hacks from the Kai Ora station. These elicted keen bidding and realised from £lO- - to £lB 10s, all the animals finding buyers. In the general yarding prices ranged from £4 to £lB. and ponies £4 to £8 10s.

PRODUCE MARKETS

Messrs. Miller and Craig, auctioneers,, -report the following prices 'realised at their produce sales on Saturday:—Hens Is 4d to 2s, roosters Is Gd to.2s, turkey liens Is od to 6s 6d, gobblers 6s and Gs Gd, butter Is, eggs Is lOd to 2s, quinces -}d lb, peaches 3d to 4;d ilb, figs 2d lb, carrots l{d, green tomatoes Id lb 'potatoes 1-p.l lb, citron 'melons 4d to 9d each, pic melons. Gd to 9d each, pumpkins 3s 3d doz, rhubanb Id bdl., pickling oiu ions, ltd lb, swedes 3d lb, apples lkl lb, 3s Sid box, pears 3s box, onions 1 I’d and l-Jd lb, marrows 2s doz, lnimeras 13d lb. tomatoes 1-Jd lb, cucumbers Is 4cl doz. ■Messrs. F. S. .Malcolm and Co., auctioneers, report the following prices realised at their sales on Saturday : —Pullets 7d to Is, fowls Is 3d to 2s 3d, roosters Is Gd to 2s Gd, turkeys os to Gs, butter Is, eggs Is 9d and Is lOd, lemons Gd, grapes 3d, apples 2s to 3s Gd case, pears 2; Gd to 4s Gd ease, quinces Is Gd case, melons 4s to bs doz, marrows 2s Gd doz, walnuts 4d lb, swedes 3s bag, onions IJd lb, picklers 3d lb, potatoes l’,d lb, cabbages 2s to 4s doz.

N.Z. 'SHIPPING COMPANY

Press Association. WELLINGTON, March 28. Tlie dividend anenitioned in a recent cable as declared by tlio New Zealand Shipping Company ,is an interim dividend at the rate of 5 per cent.

BANK OF AUSTH ALIA.

United Press Association—Copyright LONDON, March 27. The Bank of Australasia elected Mr. Alfred Lyttelton director, vice Mr. U. It. MacArtbur.

•WOOL

United Press Association—Copyright. LONDON, MarclV 27. There is better competition for wool all round, Prices are unchanged,