COMMERCIAL.

Press, Volume LII, Issue 15605, 1 June 1916, Page 8

COMMERCIAL.

(uy Cable. —Press Association. —Copyright.) LONDON WOOL SALES. (Received Mnv 31st, S.oO p.m.) LONDON, May 30. At the wool sales. <3615 bales were offered. There was an excellent selection of wool, chiefly New Zealand and "West Australian. There was a large attendance, and keen competition, especiallv for merinos. Owing to scarcity. best advanced 10 per cent., and average sorts oto 7A per cent. line crossbreds were fully 3 per cent, higher, but medium and low barely maintained previous levels. The wool trade does not consider it- likely that the Australian embargo will bo removed. The general impression is thatthe situation demands the conservation of merinos "lor the next lew months. WHEAT. ' (Received Mnv 31st. S.oO p.m.) LONDON*, May 30. The market is dull on account of t-he weakness of the American market. The Calcutta final wheat estimate is 39,750,000 quarters, a decreae of nearly 16 per cent, as compared with 1915. SHARES. Bank of Australasia £112 7s (id, Bank of New South Wales A) 37 2s tid, Bank of Victoria (30s 9d, Union Bank of Australia £oo 2s Gd, National Bank of New Zealand 93s 9d. Bank of New Zealand Sis 0d and £10, New Zealand Loan and Mercantile Agency Company's debentures £72 15s, ordinary £78. METALS. Antimony—-10s 3d forward. Silver—The brokers buying for Continental mints have agreed to refrain from outbidding each other. FROZEN MEAT TRADE. LONDON. May 30. At the annual meeting of the Cold Storage and Ice Association, tho High Commissioner, Sir Tlios. Mackenzie, corrected erroneous statements which bad appeared in New Zealand papers that 8,000,000 carcase?? of New Zealand meat \ver e waiting shipment. Ho s;iid there was really only an accumulation of 2,500,000 carcases, and this was entirely duo to the scarcity of tohnage. Ho hoped its experience of tho value or frozen meat gained during the war would induce the British Government to help in tho development of tbc Association. In view of the probability of the Continental nations importing meat after the war. Sir Thomas suggested the holding of a conference to decide what inspection was desirable. He thought that the New Zealand system was quite adequate. A member suggested that- the British Government be asked for £5000 for educational and research purposes. The matter was referred to the Council. EXPORT OF WOOL." 1 SYDNEY. May 31. The embargo on tho Brisbane wool sales has been modified, permitting the export of merino wool to Japan. (Rcccived June Ist, 1.30 a.m.) SYDNEY. May 31. Private telegrams from Brisbane confirm the London cablegram regarding the reason for the embargo on the export of wool. Tlie High Commissioner lias advised the Woolbrokers' Association that tho Imperial authorities, in instituting the embargo, feared a shortage owing to heavy American purchases. The Commonwealth Government is negotiating with the Imperial Government for some relaxation, if possible. It is anticipated that the Brisbane v catalogue will be offered in conjunction with the Sydney sales next week. The embargo has dislocated shipping. The Waikawa's trip to Brisbane to load 10,000 bales for Sail Francisco lias been cancelled.

The New Zealand Loan _and Mercantile Agency Co., Ltd., advise having received the following cablegram from London, giving the undernoted market information: —"Wool sales: Strong competition, merino 3 per cent, to 7£ per cent., crossbred fine 5 per cent, higher than May oth. Medium market firm, with upward tendency. Coarse about same as last."

HIGH COMMISSIONER'S REPORT. The Department of Agriculture, Industries, and Commerco has received tho following cablegram, dated London, May 27 Lh, from the High Commissioner for -New Zealand. (Note: Quotations, unless olherwisp speeilied, are average market prices on spot.):— Meat.-—Neiv Zciuand mutton and lamb is in active demand owing to short supplies. Prices remain steady. New Zeaiand mutton, Bjjd per lb; ewe mutton, BJd; New Zealand lamb, all qualities are in demand at Bjd. There is no Now Zealand ox beef on tho market. New Zealand bull beef, hinds, 8d per lb; fores, 7d; New Zealand boneless beef, 8d; Argentine chilled beef, hinds, lOJtl; fores, B|d. „ Butter.—The market is quiet,' Cut steady. Danish, 170s to 174s Tier cwt; Siberian, stocks are light, 130s'to 138s, Irish creamery, 160s to 168s; Australian, loßs to ,1625; New Zealand market is steady, 168s to 170s; good to fine quality, 160s to 1665; Argentine. 154s to 160s.

Cheese.—The market closed dull. Canadian, last season's make, 116s for both white and coloured; new season's make, 108s to 110s j English cheddar, 118s to 1225; New Zealand, market showing change downwards, white 113s to 114s; coloured, 112s to 113s. New Zealand coloured cheese is in weak demand, highest quotations to-day being 2s lower than during the .present week; States last season's make,* white and coloured, 108s to 110s; new season's 108s to 107s. Hemp.—The market is quiet in anticipation of heavy arrivals from Manila. Buyers are cautious. New Zealand good-fair, per ton £49 10s; fair £47 10s; Government graded fair Manila, £53 10s; coarse, £51; May-July shipment. New Zealand good-fair, £48; fair, £46; fair Manila, £53; coarse, £51. The output of hcm 0 from Manila for the week ending last Saturday was 27,000 bales. I Wheat. —The market is weaker and slightly lower. Canadian, afloat 565. May-June, 55s Gd; Argentine, afloat, 555; May-June, 54s 6d; Australian, quotations are nominal, afloat, 61s: May-June, 61s. Oats.—-The market continues dull. Argentine, arrived 335. .Beans. —The market "is firm, but demand is only moderate. _ Peas. —The market is firm. . There is a small supply of partridge peas at 565. Linseed.—The market is steady and holders are firm. Calcutta, 735; Argentine, 70s. Wools. —The market continues strong for merino and all grades of fine crossbreds, but is quiet for medium and ooarse crossbreds, all grades, although prices ,are fully maintained for them. Hops.—The market is firm with more enquiry. English, 130s to 150s; California, 100s to 120s. GOOD PRICES FOR CHEESE. (I'KESS ASSOCIATION TELEGRAM.J WELLINGTON, May 31. The Carterton. Dalefield, and Parkvale cheese factories have been advised that shipments of cheese per the e.s. Waiwera realised 114s. The Kokotau factory has received 115s for its shipment. . The Harihari Cheese Factory of South Westland has been advised. _ says a Hokitika telegram, that a shipment of cheese per s.s. realised the record price of 110s. JOHNSOXVILLE STOCK SALE. (rBESS ASSOCIATION TEJ.KGUAII.) WELLINGTON*, May 31. At the Johnsouvillc fat. sto.k sale, large entries sold at last week's rates. Prime cowa made £12 2s to £12 18s 6d,

—m prime wethers 33s 6d, lighter 26 s Cd+i--. 27s 9d, lambs 18 s 6d to 265. te ' § BURNSIDE MARKET. - fl'ttESS ASSOCIATION- TELEGBASI.) ! Alar At Burnside. to-day, 124 fat caik wore penned. The quality wa s medin™ but owing to the small entry prices ,3'' vanced £1. Best bullocks to £18, extra to £22, medium £ij t £15, inferior £11 to £12 best m* 3 heifers £12 to £14 extra** g« 6d, medium £10 to £11, inferior £8 {J , l'jit Sheep. 1023 wore penned. The quality was only lair, but owii* £ the sixuUl yarding prices advanced 4? , .Best wethers made 32s to 36< GSs, medium 27s to 28s. inferior ' 245, best ewes 29 S to 325, extra to is*' • 2£ medium 25s to 265, inferior 19 " Lambs. 543 were penned, the « Ua / / lty being only lair. Competition U exporters wa s rorv keen, and ' s advanced 2s. Best made "Un extra to 345, medium 21s to fenor 17s to 19s. ■> ,n " There was a small yardin E 0 f fat 1 pigs. Competition -was Mor? j J .pnecs higher than last week d": - baconers made H>Ss, medium j »O S . best noikcrs 70s, JSyf-'W ' There was a modtum vardiiiT ** - and Into values were Veil ' 18s PS ma( *° " ?8s anc * tenners 12s°to ' : « CHRISTCHURCH STOCK EXCHANGE, ; LATEST QUOTATIONS. J Buyer*. Sell** COAL- £< - d - 1 • Taupni ... .. 013 6 — Westport (ex. div.) .. — q' g Stockton (S per cent. \ prcf.) •• ■ 0 10 8 'V FINANCIAL- ' National Mortgage .. 4. . Permanent Investment — g r : X ; GAS— Christ-church .. _ 7 is nV": SHIPPING— Huddart-Parker .. — 1 £.«^ Huddart-Parker (6 per cent, pref.) .. .. 10 9' Northern (1-la Od paid), ■ vIS-:: ,3.ls*' MINING— ifP Talisman .. .. 111 o ■ Jgfe Waihi (cum. di-r.) .. 116 3 I'ib'^S Mt. Lyell .. _ 1 g YESTERDAY'S BUSINESS ON EXCHANGES. (rSSSS ASSOCIATION TELEGRAM.}!^'v'tiib WELLINGTON. \V/ \~ Mining quotations:—Dominion Dcv«loiSns ' " sellers 4G« 3d; Talisman, buyers 1(U-M;V \Vailii Grand Junction, sellers 16s MINING. A WESTPORT' GOLD MINE. SOLD IN LONDON FOR £1000. (moil OUR OWN CORRESPONDENT.) ' LONDON, April 21!f.f1%i By order of Mr H. Gimson, til© for debenture holders in tlie Westlimd (WW® Mining Syndicate Ltd., the licensed gold mine at Addison's near WcctpoH,^^:'; •together with tlieproapoctiiig righte further 100 acrcß of land at Shamrock Addison's, and the beneficial interest in tain lioensoa for water and tail race* wfiiffej offered "for sale by auction yesterdayib'yim Messrs Fuller, Horeey, Sons, and CassoU?»t|ij£i the Auction Mart, E.£. 'i'ho mine is situate in the Karamea 'dSvssf trict at Addison's Flat, about nine from Westport, and possesses a, surfaoe of 27 acres. It is held under a epocial claim''*® license granted by the New Zealand Governed m ment, for a term of forty-two years •. frOni'S h November 30th, 1009, at the maximum leataO H of £10 2s 6d per annum. The buildingi uidjicl plant equipment were included in theIn the construction of the water and Ull-S* races, tunnelling and general and equipment 01 tho mine upwards of has been expended. The auctioneer deecribed the mine as;

of prcat potontifllitke, but'- tho holders, ho said, wcro sot disposed to any more money to run it. On invitinJwgs •• H one gentleman offered £500 and th«£uw* ;'J\ rose by amounts of £100 and £50, ■which sum the property was knocked The name of tho buyer. Teas not diiclcf»^-$l