COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 96, 4 February 1936, Page 7

COMMERCIAL NEWS

GRAIN AND PRODUCE. CHRISTCHURCH MARKETS. (Special to the “ Guardian.”) CHRISTCHURCH, February 3. Farmers are at present cutting and threshing what is expected to be an exceptionally good crop of wheat, and the grain market is still rather quiet. Small parcels of milling wheat are being offered. Odd lots of oats are also being offered but merchants are not very keen, as there is likely to be a large quantity and the demand, is not good. Cocksfoot from the plains is offered at 6d per lb, and Peninsula cocksfoot will be ready about the end of the week. Potato quotations remain unaltered at £3 for April-June delivery to farmers. ■ s . Following are other quotations: — Ryegrass—ltalian, Is 6d (on. trucks) ; perennial, Is 6d. Oats—Algerian, Is 6d; Gartons Is lOd to 2s, Duns 2s to 2s 3d, according to quality. . Bran—Local, £4 15s; shipping, £4 10s Pollard—Local, £5 15s; shipping, £5. Flour —Local, £l2 7s; shipping, £ll 12s, with the usual increments for smaller lots. THE LONDON WOOL SALES. COMMENT ON THE POSITION. LONDON, February 1. Commenting on the outlook at the close of the London sales, Dawsons point out that the death of the King means some dislocation of the woollen industry, and has necessitated the replacement of spring patterns by others suitable for mourning. _ The position of raw materials is abnormally strong, and available supplies continue to be absorbed at an unprecedented rate. The markets are well supported by Russia and Japan. The heavy depletion of American domestic stocks and the revival of business among textile distributors may also stimulate the British market. The Yorkshire “Observer” declares that world trade was pleasantly surprised by the woolgrowers’ decision to favour a publicity levy. “Yorkshire wool users,” the Observer” says, “are certain to contribute a fair proportion to a long-term-campaign. South Africa will probably join in. The publicity scheme was recently submitted to New Zealand growers, but the North and South Islands are unable to agree on a common policy.

SYDNEY WOOL SALES. VALUES FIRMER, SYDNEY, February 3. At the wool sales, under spirited competition, principally from Yorkshire, the Cantinent and Japan, values were firm compared with the close of the preceding Sydney sales. Best fleece and skirtings were from par. to 5 per cent, dearer. Greasy merino made to 23j|d. The offerings totalled 10,679 hales, of which 10,187 were sold at auction. THE SHARE MARKET. . The following sales were made on the Christchurch Stock Exchange yesterday : LISTED STOCKS.

FROZEN MEAT TRADE. Messrs J. T. Thomas and Co. have received cable advice from their London agents, under date February 1, as under:— New Zealand Lambs —Down, 2’s, 7|d,, BJd; secondary Down, 73d, 73-d; lambs, 2’s 7fd, 7|d; 8V 7fd, 8d; 4’s 7d, 73d; secondary, 73d, 73d. New Zealand Mutton —Small, 4|d, l|d; large, 33d, 43d. Ewes, small, 33d, 33d; large, 23d, 33d. New Zealand Frozen Beef—Ox hinds, 33d, 3|d; ox fores, 23d, 23d. Dominion Chilled, Beef—Hinds 43d, 43d; fores, 23d, 3d. South American Chilled Beef— Hinds, sd, 6d; fores, 23d, 33d. New Zealand Pork —63d, 63d. Australian Lambs—sjd, 7jjd. Argentine Lambs 6d, 63d. Lambs—The market is moderate and

it is anticipated that prices are likely to decline in the near future owing to larger supplies arriving. Wethers—The market is weaker for heavy weights; light weights remain steady. Ewes —The market is steady and no material change is expected yet. Beef —Both demand and prices are steady. Fork —Trade slow owing to heavy supplies of fresh meat. . Trade generally is slow.

BUTTER CONTINUES FIRM

• LONDON, February 1. Butter continues firm, the King’s death interrupting trading. The steadiness is probably due to a certain extent to pegging the market, rather than to any particular demand. Ullsalted is enjoying the usual premium because of shortness of supplies. Statistics for ’935 show that butter imports from all sources declined for the first time since 1927, though the decline is a mere trifle of 4339 tons from the 1934 figure. Australian imports of butter increased by 0.48 per cent. New Zealand imports declined by 1.46 per cent. Oold-store stocks for the fortnight ending January 4, had increased,

Sales on ’Change. •t £ s. d. 400 Com. Bank of Aust. (cum div.) - 0 19 0 19 3 4 0 19 5 100 E., S., and A. Bank (3) 6 3 0 18 Natl. Bank of A’asia. (£10 paid 15 0 0 75 Natl. Bank of Aust. (£5 paid) 7 11 7 10 0 6 400 Goldsbrough, Mort (2) 113 1 19 0 11 1 12 10 150 N.Z. Refrig. (£1 paid, cum div.) 1 2 4 50 N.Z. Breweries 2 12 9 200 Anthony Hordern (2) 1 1 1 50 Broken Hill Propty. 2 19 4 100 Broken Hill Propty. - (con.) 10 Colonial Sugar (2) 1 9 43 10 2 0 100 Dominion Builders Supplies 0 5 7 200 Dunlop Perdriau Rubber ... (2) 0 15 11 50 G. J. Coles 3 12 9 100 Kauri Timber 1 4 2 300 Gillespie’s Beach 0 0 11* Sales Reported. £ 8. d. 100 N.Z. Paper Mills ... 1 10 0 50 Broken Hill Propty. 2 19 4 150 Tooth’s Brewery (lights) 1 12 0 200 Westport-Stock ton (pi) 0 2 6 150 N.Z. Refrig. (£1 pd., cum div.) 1 2 3 200 Bank of N.Z. 2 7 4 2 7 3 30 Com. Bank of Sydney (2) 20 7 6