COMMERCIAL.

Sun (Christchurch), Volume I, Issue 150, 31 July 1914, Page 5

COMMERCIAL.

LONDON MARKETS. By Cable.—Press Association.—Copyright. \ LONDON, July 30. Wheat —Owing to a sharp advance in American options, the market is excited. Holders are very reserved, and are asking 1/3 to 2/- advance. Buyers are caxitious, and business is restricted. "Australian cargoes to arrive are offering at 09/6 to 39/9. Copper—Spot £57, forward £SB, electrolytic £6O 5/-.. Cotton —July-August 6.75 d. Spot trade is very limited, and business in futures is demoralised. Buyers and sellers are awaiting political events. NELSON BROTHERS' DIVIDEND. (Received July 31, 10.20 a.m.) LONDON, July 30. Nelson Bros, have declared an interim dividend of 3 per cent, on preference and ordinary shares. SYDNEY WOOL SALES. SYDNEY, July 30. Bidding at the wool sales was very -slack. The bulk of the offerings were passed in. Better classes may be quoted at 5 to 10 per cent, below the extreme rates ruling at previous sales, and inferiors were even lower, though the sales were too meagre to fix really dej finite quotations. I ,' i i i AUSTRALIAN MARKETS. SYDNEY, July 30. Wheat —Buyers 4/2, sellers 4/3. Flour, £8 to £8 5/-. Oats —Algerian feed 2/6, milling 2/8; Tasmanian 3/to 3/1. Barley—English 2/6, Cape 2/6, seed 2/10. Maize —3/9 to 3/10; Java, 3/6. Bran and pollard, £5 5/-. Potatoes —Tasmanian £6 to £7. Onions — Victorian £7 10/-; New Zealand £5 10/to £6. Butter—Selected, 122/-/ seconds 100/- to 104/-. Cheese, 9d. Bacon, 84d. " July 30. Hides —There were average supplies of hides at £d to ; ]d lower for especially good lots. _ ADELAIDE, July 30. Wheat, 3/11. Flour, £8 10/- to £8 15/-. Bran and pollard, 1/1 to 1/2 i. (Received July 31, 10.5 a.m.) MELBOURNE, July 31. Wheat, 4/2; flour, £9 10/-; bran, £6; pollard, £6 5/-; Barley, English malting 3/- to 3/7-J, Cape 2/4 to 2/6; oats, Algerian, 2/4 to 2/5; maize, 3/8 to 3/9; potatoes, £4 5/-; onions, £6 to £6 10/'-. N.Z. BUTTER IN VANCOUVER. VANCOUVER, July 29. New Zealand butter, best grade, is selling at 1/4. COMMERCE IN NEW SOUTH WALES SYDNEY, July 30. At the annual meeting of the Chamber of Commerce the president said he anticipated a fair wool clip, and a good wheat harvest. Referring to the gold depletion threatened a year ago, he said that the salutary action of the banks in practically stopping all advances for fresh projects had not only ened various forms of private speculation and extravagance, but had gradually restored the gold position. FOREIGN MARKETS. Messrs Weddel and Co. report on Smithfield Market under date June 26, 1914: FROZEN MEAT MARKET. Lambs —There has been a quiet but steady trade at Smithfield this week for frozen lambs. All classes of small weight lambs are firm, but the heavy grades close weak. are to-day quoted at 6-|d per lb for the u/361b, 5 15-16 d to 6d per lb for the 36/421b and 5 13-16 d to sfd per the o/421b. Secondary lambs of small weight realise 6Jd per lb. North Island carcases continue to be short and prices unchanged from last week at 6»d per lb for the small and medium weights of the prime qualities. The ordinary brands are quoted at s§d per lb for the same grades. Small North Island seconds are in good demand, and sell at 6&d per lb. Southland lambs are quoted ai; 6d per lb for u/421b grades. Australian lambs are a quiet sale and prices are practically unchanged from last week at sfd to s|d per lb for the small weights; 5M for the medium weights, and 51d per lb for the heavy weights, of the g.a.q. F.a.q. carcases are quoted' at gd per lb less. River Plate lambs are unchanged at s|d to s|d per lb according to weight. Patagonian lambs continue to realise 5Jd per lb for medium weights. Mutton —The demand at Smithfield for frozen mutton has been satisfactory, prices quoted in our last report being maintained. We quote prime Canterbury sheep u/641b at 4]d to 4§d per lb, and the 64/721b at 3Jd per lb. Prime North Island carcases u/641b are selling at 3gd to 4d per lb, and the o/641b at 3£d to 3gd per lb. Ewes are firm at ogd to 3;t<! per lb for the heavy weights and 3-gd to 4d per lb for the small and medium weights. For the few small Australian sheep available, 3}d to 3Jd per lb are the ruling prices. Medium weight carcases realise 3|d per lb., and the heavy weights 3j}d per lb. Ewes of small weight are quoted at 3 11-16 d per lb. River Plate sheep are unchanged at 3§d to 4d per lb.

Frozen Beef. —There is unfortunately no change to report with regard to the position of frozen forequarters. South American chilled is still being marketed in large quantities and with low prices ruling, the frozen article has been temporarily neglected. Hindquarters, however, are meeting with a steady enquiry, and as supplies are only moderate it has not been difficult to make progress with sales. We quote Australian crops at 3id per lb, and hinds at 4]d to 4 5-15 d per lb. River Pla£e fores are selling at oi|d per lb, and hinds at 4sd per lb. New Zealand frozen beef is offered at .'!] d to ;>sd per lb fores, and 4£d per lb for hinds. Chilled Beef —Large quantities of chilled forequarters have again been marketed, and with continued warm weather, low prices have been accented

in order to clear stocks. Hindquarters have been a satisfactory sale, considering the large numbers pitched on Smithfield. The market closes at 3|d per lb for fores, and 5d per lb for hinds. THE MARKETS. Messrs Dalgety and Co., Ltd., have received advice from their London Office, dated July 29, as follows: — Tallow—Very small demand. Prices for tallow (in general) are on the average 3d per ewt. lower since our last wire. Sheepskins.—Market inactive, a good deal was withdrawn. Prices are id to id lower since our last wire. FARM PRODUCTS. Those inierest.ed in the grain trade are watching the trend of affairs in Europe v€ry closely, and the war has had the effect of already making wheat; a little firmer locally. So far oatshave not been affected. Otherwise the market remains the same. WHEAT. The European trouble will have the: effect of restricting the supply for England with the result that the English miller will have to draw more largely upon the colonial-grown supplies. Of the hundred million cwts. of wheat imported by the United Kingdom in 1912, 25 millions were from India, 21 million from Canada, 19 million from the United States, 18 million from Argentina, 11 million from Australia, and 9 million from Russia. The underwriters have lately increased the Suez Canal war risks, and the spread of hostilities would probably affect the Indian trade. A heavier exportation from Australia to England would have the effect of drawing the flour coming from Australia to the Dominion. This would cause an appreciable rise in local prices. Though wheat is firm at late rates, no advance can be recorded as yet, though several firms have withdrawn all quotations. Values are as follow: —Pearl, 3/8 to 3/9; Hunters, 3/73- to 3/8, Tuscan, 3/7 to 3/7 A, fowl wheat to 3/5. OATS. As yet oats have not been affected, but the fact that the European nations are preparing for eventualities will have the effect of shortening supplies at Home with a consequent exportation from the colonies. Prices are as follow: —Prime Algerians to 1/9, ordinary 1/6 to A grade Cartons to 1/8, B Gartons l/6i to 1/7, Danish 1/7, Duns 1/7 to 1/BJ. BARLEY. Malting qualities are nominally quoted at 3/3, but there is no demand whatever. CHAFF. Prime oat sheaf chaff is not easily disposed of at 45/- per ton at country stations. POTATOES. The market for potatoes is quite lifeless, and from 40/- to 45/- per ton is the limit offered by merchants at present. The northern demand has slackened off considerably, of late. The Australian market is now quoted at from £6 10/to £7, so it would incline holders to look forward to exportation to Australia. Early seed varieties are quoted at £4 15/- to £5 per ton. •ONIONS. A fair demand exists for onions at from £3 5/- to £4. ' GRASS SEED. Eyegrass is from 2/3 to 2/6, and inferior quality ranges from 1/6 to 1/9. White clover is worth 9d to lOd, and cowgrass 7d to 7id. OTHER LINES. Linseed is worth from £9 to £9 5/-. No. 1 Partridge peas are quoted at up to 4/6, being very scarce, and other lines are in proportion. Prussians realise from 3/- to 3/3, and Imperials 3/- to 3/6. Beans are at 2/10. Bran is quoted at f4 5/- per ton, and pollard £6. Oatmeal £l2 per ton. Flour is now: Sacks £lO, 1001b bags £lO 10/-, 60lb £lO 15/-, 251b £ll. DAIRY PRODUCE. Butter values now are as follow: Factory prints 14d, farmers' separator lid to ll£d, and dairy 10a to 10$ d. Cheese. —Large dairy SM, loaf 6d, factory large s|d to 6d. Hams are at 12d, sides 9 Id, rolls large Hid. Eggs <are now 1/2 per dozen.

Extracted honey 3 ; } d, sections 4/6 per dozen.

IN AUCKLAND.

(Sun Special.) AUCKLAND, July 31. Potatoes arc weak, and heavy stocks are held locally. Growers are becoming anxious to sell, there is now little doubt that the supplies left are more than ample to carry on with until the new crop is ready in the Auckland district. The result is that this week potatoes range from £4' to £4 10/- per ton. There is a hope that the low prices now being quoted may leave a margin of profit for export to Australia, and already enquiries have been made from the Commonwealth, but so far no sales for shipment have been announced. Seed potatoes are meeting with a good demand, the short spell without rain having facilitated planting operations. E'ree sales should talce place during the next few weeks. WHEAT. A firmer feeling already exists in the market for milling wheat owing to the outbreak of war in Europe, and holders seem well disposed to await developments. Prices are as last quoted. Fowl wheat has firmed a penny per bushel since last report. OATS. Oats may be affected if the war extends. Seed oats have had freer sales since the weather improved. Prices are unaltered this week, Algerians being at 3/8, and Australian 8/10. ONIONS. The first of the new season's Japanese onions came to hand during the week, and from now on regular shipments may be looked for. New Zealand onions are now beginning to sprout with the result that they have to be repicked before selling, which naturally

adds to tlie cost. After repickirig, the, onions are quoted at £8 per ton, but for Japanese £l2 10/- is asked. , CHRISTCHURCH STOCK EXCHANGE. SALE REPORTED. Taupiri Coal, £1 1/9. TODAY'S QUOTATIONS. Buyers. Sellers. COAL— £ s. d. £ s. d. Westport .. .. 1 10 9 insurance:— New Zealand .. •. .■ MEATS— Christchurch Meat Co. (£lO paid) . . .. WOOLLENS— Kaiapoi . . . . .. 5 •• 0 MISCELLANEOUS— , ; .Booth, Macdonald, and Co. (preference) . . 0 18 9 N.Z. Farmers' Co-op. Whitcombe.and Tombs MINING — Talisman . . . . . . 1 9 8 —— Waihi . . . . . . 113 0 ' ■ — ; AUCKLAND STOCK EXCHANGE. Press Association. AUCKLAND, July 31. Sales—-Talisman 30/- to 28/9, Wailii 33/3 to 32/-, Junction 23/6 to 22/3. DUNEDIN STOCK EXCHANGE. , DUNEDIN, July 31. Talisman 29/-, Waihi 33/6, Junction 23/6. |