COMMERCIAL.

Press, Volume LIV, Issue 16218, 22 May 1918, Page 8

COMMERCIAL.

FINANCE. TRADE. AND

COMMERCE.

The demand l'or New Zealand lr.s-arar.ee shares continues strong, and buyers arc now offering £9 4s without tempting sellers. There are various rumours current with respect to the reason for the firmness of these shares. There is* the statement that the Company will increase its dividend, and as the interim dividend is due shortly this looks plausible enough, but tho advance has been too rapid and too pronounced for this explanation to be accepted,* aud the view is entertained in some quarters that the Company is about to absorb- ar.other insurance company or is itself likely to be absorbed. Tim "explanation would bettor account for the advance in the shares.

Combination seems to be the order of the day, and the opinion is entertained by mer. capable of taking a clear view of aff_irs that the commercial which will loiiow after the present great struggle will be a battle royal between huge corporations. In Germany great combinations have been arranged at the instance of the German Governm nt, and it is believed that certain British combinations that have been announced recently have been fostered and encouraged by the British Government. Those huge concerns are not merely agreements &s to price, but combinations lor co-operative efforts so that goods of quality may be manufactured at much lower prices. Specialisation and standardisation will be more in evidence. Some business men do not think that Germany can figure as a serious factor in the world's commerce, at least for some time. Germany will stand need of raw material, and this is shown by the frequent references in the peace proposals of Pan-Germanism, in which tho supply rfftf raw materials is substituted for indemnities. The British Empire is self-supporting in most of the metals, wool, fibre, and several other products, and Germany will be unable to obtain much, if anvtliing, from Britons. The annual meeting of shareholders of .the Bank of New Zealand will, be held next month, when,, as in previous years, tho chairman (Mr Harold Beauchamp) will no doubt make full reference to the prevailing economic conditions. There is plenty of scope and plenty of matter for a very interesting review of affairs. Rcforence to the Bank of New Zealand reminds one of thc ( peat services being rendered by the Bank' in regard to the war loan. Business men, however, will need to interest themselves in tie matter and insist that the Government refrain from sorueezing the banks too severely. It would do a serious thin" for us if tho banks had too much of their" funds invested in war loans, because under such conditions tho banks will be unable to help the people at a time when such help will be most needed. "When the war etids, and thoTe is a rush to Tesi'me the ordinary operations of pence times, there will be many pressing demands on the banks fov accommodation, wi<h plenty of sound collateral security, and if the banks ere then loaded u.p with Government paper, they will certainly not bo able to help t the business community.

CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. Buyers. Sellers. • • £ s. d. £ •. d BANKS- , „ „ Nattional .. ••• — o _6 0 ITninn •• • • 56 2 G ■ — BREWEBIES— Manning .. ».r 8 0 0 — COAL— Taupiri .. .. — 0 19 3 FINANCIAL— i\.Z. Loan and Mercantile (cum) .. 86 0 0 — GAS— » Chiistchurch ...: — 6 0 0 INSURANCE — National ..- •« — 2 19 9 MEATSN.Z. Refrigerating- .. 118 0 — SHIPPING— ■Hrddart-Parker r..i 2 0 0 2 0 6 MISCELLANEOUS— Colonial Sugar .. — 21 10 6 Mason, Struthera (£1 paid) .. .. 12 0 — N.Z. Consolidated Dental ' (cum div.) .. 15 6 — N.Z. Farmers' Co-op. .. — 2 3 0 Weeks, I/td. ... 612 6 — MINING— Talisman .. .. 0 8 8 — GRAIN AND PRODUCE MARKETS.

hXms and bacon. (By Cable.—Press Association.—Copyrights (Received Mb? 21st, 8.20 p.m.) MELBOURNE, May 21. Prices have been fixed for Australian and New Zealand hams as follows: —(In cloth) Wholesale Is 3£d, retail Is 7d; (seed) wholesale Is 41d, retail is 7Jd. Bacon: Wholesale 10d to Is 2d, retail 13d to 17d. HIGH COMJnSSIO N TEE'S CABLED REPORT. The Department of Agriculture, Industries, and Commerce hae received the following cablegram, dated London, 18th May, 1918, from the High Commissioner for New Zealand . ; . Meat.—Market and pricca are without change. Butter. —Stocks increasing, but distribution limited to rations. Cheese.—ls in small supply. English Cheddar, no supplies available. Government has revised maximum price, now 149s 4d. 1 Hemp.—Manila: Present supplies axe sufficient to meet requirements. Stocks Ist May, 63,731 bales, against 26,186 bales let May last year. New Zealand: Conditions unchanged. Wheat and Oats.—Offerings Bmall; --no change in prices.

(BY OWE COMMEBCIAI EDITOR > Tuesday _ Evening. There aie no changes to note in the market, offerings of both wheat and oats being limited. Oatsheaf chaff is dull of sale, as there is a large quantity awaiting shipment. The potato market is qniet, the demand not being at all active, and at the same time Mowers are not anxious to sell at present prices, £5 to £5 5s at country stations; being all that is now offered. The immediate outlook for shipping to the north is satisfactory. The regular boat to . Auckland is not calling at Lyttelton this. trip, and efforte to secure a special steamer have so far been unsuccessful. The following are the price® paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated:— Milling wheat, according to Government price, South Island, May fc lid, Juno 11.id, July 6s, August. 6s OJd, f.0.b., North Island, 4d additional. Oata —Seed Algerians 4s 3d to 4s 6d, leed 4a to 4s sd; milling Gartons 4s 3d to 4s 4d, feed 4a Id to 4s 3d; seed Duns 4s 6d to ss, lighter 4s upwards; good quality Damah to 6d« Barley—Primo malting 6s 3d to 6s 6d, medium 5s 9d to 6s. Flour—£l3 10a per ton; 1001b bags, £16 ss: 50lb bags, £1R 10s; 251b bags. £16 15s. Bran—Shipping £5 10a, local 158 P" ton.

Pollard—£7 10s per ton. Oatmeal—2slb bags £26 per ton, 71b bags .£26 per ton. Oatsheaf Chaff—(Nominal), heavy bright £5 10s to £5 15s, medium £5 to £5 ss, inferior £1 to £4 10a. Cocksfoot—lo?.d to Is 3d. Ryegrass—Heavy Perennial 4s 6d to 4a 9d, "lighter 4s to 4s sd; Italian 3s 9d to 4s 3d: Westernwolths 4s to 4s 6d. White Clover —Clean le 3d to Is 6d. Red Clover —Is 3d to la 6d. Peas—Partridgo 7s to ,7s 3d, 'White Ivory lis 6d to 12s, Blue Prussians 15s 'to 16s, Blue Imperials IGs to 18s. Scotch tares—los 6d. Beans—Gs 6d to Gs 9d. Rape Seed—4d to 4sd. Onions—£s 5s to £5 10s. Linseed —£22. Potatoes—£s to £5 ss. HAXGIORA MARKET. There was an Increased entry at tho Rangiora market yesterday, the total yarding being' 2829, including 212Sfat3, as compared with 1577 last week. Prices for fats wero about on a par with those of tha last sale, and tho demand continued good for prime quality freezers. Extra prime lambs made 29s lid to 335, prime 27s to 295, medium weights 26s to 2Gs lid, light 23s 6d to 245, extra prime CWM 32a 7d to 34s Gd, prime 29s 5d •to 30s 9d, medium weights 27s 4d to 2Sa lid, lighter 23s 7d to 26a 7d, extra primo wethers 35s to 395, others 28s 9d to 349. The principal sales were: —

Lambs —F. D. Xeave, 43 at 335, 78 at 28s lid, 30 at 2Cs sd; G. Barker, 39 at 28s 6d; clienta, 53 at 23s sd; G. Mcintosh, 21 at 275; W. Gee-ring. 22 at 275; James Dalzell, 27 at 27s 3d; John Dalzell 28 at 245; J. Bradv, 22 at 27s A. MeMaster 37 at 26s sd, 73 at 26s lid; A. Pulley, GO. at 27b lOd; S. Barker, 28 at 26a 3d; O. Hope, 119 at 28s 3d; F. Davidson, 55 at 2Ss 6d. Ewes—G. JlclntOßh, 24 at 27s 4d; F. {Seave, 27 at 30s 4d; A. Pulley, 32 at 35a sd: R. Bailey, 23 at 30s 6d, 3i at 273 2d; S Barker, 20 at 32a 7d; E. Fear, 65 at 30s 9d; R. Fleming-, 57 at 27a 4d; A. Pulley, 53

at 20r■\Vctiiors—A. Todd, 54 at 39«, 47 at 355, 1 at 42s 6d; F. Dawson, 42 at 355; clients, SS at 'Jos to 31s 3d. The range of prices for store sheep was as follows:-Six and eight-tooth ewe# Ma 6d,

six-tooth 2013 7d, aged ewes 15s to 10s 3d, six and eight-tooth wethers 22s 7d, forward wethers 24a to 29s sd, store wethers 13s 6d to lan Id, ewo hoggets 22s lid to 2js 6d, cull lambs 14s 6d to 16s 3d, mixed sex hoggets 21s lid. , , Cattle—There was an entry of 46 head. Eighteen months steers made £7 15s, fat cows £12, springers £10 10s to £18, calves £2, yearlings to £5. Pigs—About 2CO were penned. Bacouers made 80s to 112s, porkers 60s to 655, stores 35s to 50s, and small pigs 9s to 2<te. In the poultry department roosters sold to 8s Id a couple, pullets 7a 6d, hens 3s €d. In the produce department chick wheat sold at 5s 6d to 6s 9d n bushel, oats 5s to' 5s 6d, Cape barley 4s 6d. grass seed 3s to 3s Gd, meal 17s Gi ft sack, oatsheaf chaff 5s to 6s. 9s to 19s. 4s 7s Cd, carrots 3s Cd to ss, apples 3s to 4a a case, pears 2s 7d, onions li<l lb.

ASHBURTON STOCK SALE. There was a good yarding of fat ehoep at, the weekly stock sale held at the Tmwald yards yesterday. With freezing buyers and butchers operating, there was a good demand and prices were well maintained, *at ewes 'made up to 38s 3d. wethers to 38s, and lambs 325. Mr J. H. Muirhead Lagmhor, sold 14 ewes at 38s 3d, and Mr lane, Anama, sold 10 wethers at 38s. principal ealoe were-:— Ewes —18 at 23s Gd, 17 26s 4d, 20 20s 21 81« 9d, 3G 26s Bd, 23 38s. 18 27s 10d. 11 34s 10d, •16 33s Id. 15 27s Hid.. 26 24s 9d, 15 26? .0 32s Gd, 14 38s 3d, 20 25s 10d, 16 30s, 14 283 3d, 19 29b Id, 28 28s id, 15 383 3d, 4o -is 4d 54 2Ga 6d, 18 27s 9d, 25 23s 4d 24 20s Cd' 17 26s Od, 16 26a 9d, 22 28s lOd, 35 -os Id, 36 27s 3d, 20 20a 4d, 48 27s 2d, Wethers—lß 36s 9d, 18 31s lid, 12 31b 3d, 16 34a Gd, 30 31s 2d, 60 32s lOd, 10 38s, o4 23s 2d, 85 30a lid, 35 32s 4d. Lambs—2l 26s lOd, 58 28s, 49 28s Id, 63 30a 3d, 23 28s 6d. 110 2»s lOd, li 28s, 50 27s Id, 526 25s 4d, 448 27s lid, 126 30b 9d, 141 '32s 3d, 171 29s Id, 70 27s lid, 65 28s 7d, 38 25s 7d, 56 283 10d, 22 29s 4d 17 2Je 3d, 47 31s 7d 112 25a lOd, 74 26a Sd, 97 2<e 4d, 53 28s Bd, 26 29s lid, 38 29s 3d, 12 2as od, 19 24a 6d. Stoie Sheep—7so aged ewes 13a, 54 four, six and eight-tooth ewes 27e 3d, 17 ewes and -wethers 26s lid, 62 ewo lambs 24s 7d, 64 aged owes 7s Bd, 110 ewe lambs 28a.1d, 75 wether lambs 19s 3d, 60 failing-mouth ewes 203 143 six and eight-tooth ewes 28s 6d, 61 wether lambs 23s 7d, 80 aged ewes 7e 6d. There was a fair yarding of cattle, kdA the highest prico waa £18 15s for a fat bullock belonging to L. W. Walsh, Tmwald.

THE PROPERTY MARKET. Joneo McCrostia Company, Ltd., sold by public auction on Saturday a property situated at Cross street, Linwood, comprising about J-acre and cottage of four rooms thereon, to Mr Abbott for £260.

CLEARING SALES REPORT. The number of clearing sales whioh at this time of tho year usually take place wo likely to bo augmented this season by the calling up of the Second Division men. There- is no doubt that the Second Division farmer who is at present selling out is ranking a big sacrifice, and the only ray of light in the whole trouble is the keenness shown by those who aro unable (one way and another) to also go to the front, in purchasing the goods placed before them by public auction. The high price of all commodities and the knowledge that the live and dead stock is for genuine sale, enables the wonldbe purchasers to bid with freedom and confidence, and the following prices will prove to tho general public and also to any farmer who is contemplating disposing of hie stock, that public auction is the fairest way of disnosing of his goods and chattels. Messrs H. Matscn and Co. held a clearing sale for Mr C. Chamberlain at Ellesmere 'Mt Chamberlain having sold .his farm) on Monday, and the following prices show tho high class of goods and stock offered on his account:—Coils of wire netting from 33s to £2 3s per coil, cultivators to £27 10s, sets of tine harrows to £3 sa, plousrha 'to £30, sixhorse yoke £8 10s, Cambridge roller ,£27, grain drill £54. binders to £30. drays to £25, 147 ewes 29s 3d, 100 ewes 29« 9d, 200 -wethers 26s Bd. 31 ewes £1 2s, 66 lambs 53s 3d. bay filly Bonnie (3yra) £49, brown gelding Duke fHytb) £46, bav filly (3yrs) £40, bay mare (syrs) Nancy £35, bay mar© Polly (aged) £27, four sets of back bands and chains 46s each, collar, homes, and winkers (five lots) from £3 15s to £4 6s, one gig £16, ono gig £24, unbroken coll? and fillies £14 to £19> one cow in full profit £28, three stacks of oatsheavea £28 to £30 each, furniture and sundries at tin-ton prices. Mersrs H. Matson and Co. offer their services to anyone contemplating holding cleating sales, and defy competition in this channel of their business. 1 EGG MARKET REPORT. SX the auction sale of guaranteed fresh eggs held yesterday by Messrs Harris Brtu., auctioneers, there was a very sood entry. The prioes realised were as follows:—First grade hen eggs 2s 6d to 2s 9Jd per doze'n, second grade 2s 2d to 2s 3d, duck eggs 2s pex dozen. 1