COMMERCIAL.

Gisborne Times, Volume XXVI, Issue 2192, 16 May 1908, Page 3

COMMERCIAL.

Unitod Press Association —Copyright LONDON, May 14. Wool is very animated, with a hardening tendency for all sorts, llioro 'is strong Homo demand for crossbreds. The .sales included Rangatira at SYDNEY, Alay 15. Useful rain over a great part of tho State lias caused a fall in tho price of wheat. Wheat: Sydney quotations are 4s 7ld to 4s fill; Melbourne, nominally, Is 7d; Adelaide, 4s sd. AIELBODRNE,. Alay 11. Hides, slouk and lioavios, are unchanged in prices. Kips aro id lower. Press Association. WELLINGTON, Alay 15. A cable from the High Commissioner, dated London, Alay 13th, states: The wool sales have commenced, with a large attendance. Tlie average price obtained shows a penny reduction from last sale. There n'as good competition at lower prices, especially for coarse crossbreds of all grades.

Saturday’s Dunedin “Star” says:— On account of tlie short supply of fat cattle at the Burnside stock sales.on Wednesday there was a sharp advance in price. It is fully expected that for the next three or four months fat cattle will both bo short in supply and dear in price. This is ascribed to the shortage of turnips at tlie Taieri on account of blight. On former occasions the Taieri has offered tlio best of grazing for at least 5,000 cattle; now it cannot support as many hundreds. That the price of turnips is going to be high this year was well evidenced last week, when £2 15s anil £3 per ton were paid, as against £1 anil 30s in previous years. The remarkable nature of the present dairy season, particularly the surprising recovery of dairy stock to comparitively full profit, especially in Taranaki, lias led to a general upsetting of calculations on the part of those ilealng in butter for local markets as well as manufacturers who cater in part to the local consuming public (save the “New Zealand Times”). There is little doubt that at tlio present time there is more butter in store in the Dominion than is required for the local trade. Some 80 000 boxes aro said to be in public cool stores, but this total does not take* into account the amount in private stores and factories, especially in the stores of several large concerns. And butter is still being made. Many factories lost heavily by having sold their outputs this season, but heavy losses have also been suffered by factories and middlemen who cater to local markets and did not calculate on the remarkable autumn output. It is stated that the loss which will result to one co-op-erative company, on one deal alone, in purchasing a line of butter in London for the New Zealand trade, will amount to £ISOO, and largtu concerns wil probably suffer heavier losses owing to the surprising manner in which the supply lias overtaken tho demand.