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Gisborne Standard and Cook County Gazette, Volume III, Issue 352, 17 September 1889, Page 3

The following paragraph appeared in the New York Times recently from its San Francisco correspondent: ‘ Latest reports from Sydney show the recent attempts of New Zealand farmers to control the wheat markets of New South Wales and Queensland to have resulted in a disastrous failure. It caused the tqarhet tq be glutted with Californian wheat and » general decline in prices. American shippers will be seriously affected, but only for a time, Naw South Wales and Queensland will average a general consumption of about 709,000 bushels. This amount is supplied from the crops of the neighbouring colonies (or California), South Australia, Victoria and New Zealand. They have heretofore supplied the United Kingdom, the Cape of Good Hope, and Mauritius, This year's crops, however, proved insufficient when the foreign markets had been supplied. Three colonies found that they had not enough of their own products to answer the demands of the home consumption. New Zealand farmers failed to figure on California being a heavy producer. The farmers held their crops back for a higher market uqtjl advices from here showed California's prop t* be unusually large. Brakes of New J ou th Wales and Queensland showed a preference for wheat Owing to lower prices and I' o , lave themes). New Zealand farmers Wfi tn unload rapidly and at low I until the New Zealand crop wa» vonBymed.