COMMERCIAL.

Gisborne Times, Volume XXXIII, Issue 3661, 24 October 1912, Page 2

COMMERCIAL.

POTATO MARKET EXCITED

FURTHER RISE PREDICTED

[BY TELEGRAPH—SPECIAL CORRESPONDENT] WELLINGTON, Oct. 23.

The demand for potatoes is such just now that holders should he reaping a rich harvest. At yesterday’s market sales the wholesale price was £9 .10s per ton, with a good, out slackening demand on account of the heavy price. The price this time last year was onlv £1 l()s. Xew potatoes from the Auckland province have keen held up on account of the block on the Alain Trunk line, but they are now arriving by steamer as well as by rail. These consignments will ease the market to a small extent.

A local dealer in potatoes informed a representative of the “Dominion” yesterday that he had iust received advice from Christchurch that the market was excited and sales had heen made for Sydney at £9 TOs per ton. About three months ago, said the same informant, merchants commenced to buy for New South Wales,. but the trade was looked upon as highly speculative. The potatoes, however, were taken up all along tho line. The Government of New South Wales abated its restrictions on New Zealand tubers, and • merchants gave farmers as high as from £0 to £8 per ton. In Victoria also the regulations were relaxed, and potatoes have been going in there more freely. In Adelaide a few days ago, it is stated, local potatoes were selling at £l7 per ton. The feeing, said one informant, is that potatoes in Wellington may advance to not less than £l2 per ton within the next week or tw,o.

N. S. WALES AFFAIRS

[UNITED PEESS ASSOCIATION—COPYEIGHT 1 SYDNEY. Set. 23.

The Budget showed that tho railway and tramway earnings for the year were £8,872,860. After paying working expenses the net return on the capital invested was £4 10s 4d per centum. The deposits in the Government Savings Bank increased to £2,500,000, tho total balance to the credit of 435,000 depositors being £18,612,000. The estimates of proposed expenditure on public works total £6,113,170, including £2,427,000 for now railways, duplications, and rolling stock. The Treasurer •'anticipates no difficulty in raising tho loan money required. He has every confidence that lie will be able to provide £6,000,000. He proposes to raise £200,000 in new taxation from probate and stamp duties, and £70,000 from a re-adjustment of the income tax.

Last year 7734 buildings were completed in Sydney and suburbs at a cost of £4,495,017, a record. The

| total overseas trad© was £59,504,829, un increase of £4,230,385. The excess of exports over imports was nearly £5,000,000. The butter exports increased by £6,606,000. The Treasurer anticipated a decrease in tlie wool clip, owing to the drought, but expects a satisfactory harvest. The “Herald’s” preliminary estimate of the wheat crop gives an average of 10 bushels. It adds: “Any estimate at this stage is problematical, everything depending on the rainfall during the next few weeks.”

HOME MARKETS.

HIGH COMMISSIONER’S CABLE

[UNITED PRESS ASSOCIATION —COPTHIGHT) LONDON, Oct. 22..

Quotations, unless otherwise specified. are average market prices on spot. Eggs.—Market quiet; nriees slightly weaker, owing to the'large supply. Fair demand for cheaper sorts at 12s; home, 13s to 14s 6d ; alien. 10s to 12s; Hungarian, 8s Gd to 10s 9d; Russian, 8s 6d to 10s; French, 15s to 16s; Dutch, 13s 6d to 15s ; Danish, 10s 6d to 12s. Poultry market firm, and good demand. Chickens, home. 9d to lOd; turkeys, home, 9’d to lOld. Bacon.—The market is quieter. Prices firm .on account of the small supply of all descriptions. Irish 76s to 83s, Danish 74s‘to 83s; Swedish 74s to 81s, Russian 70s to 70s, Canadian 74s to 78s. ' . Hams.—Market firm. American 66s to 725, Irish 84s to 106 s. Canadian 70s to 755, English 92s to 108 s.