COMMERCIAL.

Press, Volume LIV, Issue 16398, 18 December 1918, Page 10

COMMERCIAL.

JJOTES FJROSI. WELLINGTON.

(FROM A CORRESPONDENT.) WELLINGTON, December 17. Investment shares appear to be extremely dull and various factors have contributed «o this' Up to tlio timo of the celebration ot the signing of the armistice , by Germany, oil November 12thy. business km decidedly good, but when tho influenza epidemic wa3 scouTg;ii" the community end business places were shut down lor a week or mor« investors were atfojrded'time to reflect on the situation. AVith the cloee of-tho ffar there immediately, arose uncertainty as to the future, and /tiioee who held sharea hoping to unload at a profit boiore hostilities terminated -. were caught napping; thua there wore several holders of shares anxious ta quit, while 'buyers held off owing to their inability to decide on the course to pursue. Thus many shares have depreciated, and in some cases tho tall in prices is substantial. Tho prices ruling prior to the nrmiatice were very high, but then most af tho concerns were favourably affected by the war, Tho returns to the investor at the prico3 • were, however, too; email, and it is not surprising that there has- been _ a reaction. • When the embargo on capital is' Kited:,by the several Governments and the money, market is allowed to find its own level, rates must go up under the pressure-of extraordinary demands,. and those with' loanable credits will do well. Also there must'be a large importation oi merchandise as soon as the circumstances are favourable, and in this connexion a great : deal of capital will' bo needed.; , • Thoso competent to judge of the share markota are of opinion that a good demand will set in for the bettor class of gold mining shares, and this . view is to a large exiont based on the enquiries that have been receivod by brokers during tho past few weeks. Unquestionably there will presently be tin extraordinary demand for gold, • because Europe's, uncovered liabilities in the shape of note issues _ total About £7,000,000,000, and eomo provision will .have to be mado for this. A great development in gold mining is one of the probabilities of the near future, but vendors of "wild cats" will not be tolerated. At the annual-meeting of shareholders of tbo Gear Meat Company on Monday evening, tho managing director, who presided, stated that the demand for war purposes had brought into the field fresh sources of supply, which would compote with us in (he future.- Ho referred particularly to Brazil, with 30 million head of cattle; South Africa/ si millions; Madagascar G4 millions; Rhodesia. Nigeria, etc., wilh large and Increasing herds. The 'figures quoted are exclusive ot cheep, and the countries named are nearer to, their ultimate markets than is New Zealand. GRAIN AND PRODUCE MARKETS. (BY OCR COMMERCIAL EDITOR.J Tuesday Evening. "With the week-end arcd a day's holiday there lias been little business done since lust report. It lios be-on reported that thero lias som-i iorward business dono in new season's oata and chaff,, but fcheru has been apparently nothing but enquiries made so far. Somo cutting of early oats has already takeu place, and gonorally tho crops are good. Tho demand from the North Island for chaff has eased off, aud a shipment recently sent to Wellington met with a glutted market. Consequently prices are easier. Tho potato crops are everywhere looking well, and the weather has been against any • development of blight. It is probable that business iti the new crop will opeu earlier than usual, and that offers jvill be made soon after the New Year. The lollowiug are the prices paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated: Milling wheat according to Government price, South' Island, 6s Old. f.0.b.; North Island, 4d additional.' Oats (nominal) —Best Algerians, 4s 9d to 5s 3d, feed 4s 3d to 4s 6d; best Gartons, 5s to 5s 3d, feed 4s Cd to 4s Dd; best Duns, 5s to 53 3d. Barley '(nominal). Flour—£l3 10s per ton; 1001b bogs,. £16 os; 50lb bags, £16 103; 251b bags,- £16 15s. Bran —Shipping £& 10s, local £5 loa per ton. Pollard—£7 10s per ten. Oatmeal—2slb bags £30 per lon, 7lb bags £34 10s"per ton. Chaff—Heavy bright, £G to £7, medium £5 to £5 los; inferior - £4 to £4 10s. . Cocksfoot—lo}d to Is 3d. / Ryegrass—Hoavy perennial 4s Cd to 9d, lighter 4s to 4a sd; Italian 3a 9d to 4e 3d: Westernwolths 4s. to 4s 6d.. "White Clover —Clean Is 9d to Is lOd. Ked Clover—la 6d to Is 7d. ASHBURTON STOCK MARKET. The yarding of fat sheep at the Tinwald rard* vesterday totalled 2G4, incluling X3C

vxei, 30 wethers, and 73 lambs. There was a goci attendance, and the prices realised vera well up to those realised at the two previous sales, Values were:—Prime ewes (shorn) 31* to 33s 3d, medium quality 28s 6d to 29« -4d, woolly «w« 35s to 42s 6d. weihors (ahorn) 3La io 3.*, lambs 27s to 29s 3d. The yarding of 6iorea was 2130. The principal lines eo'd were:—Shorn 6heep: 77 halfbred wether hoggets at ?2s, 62 two-tc-oth. crossbred ewes at 3Ps rid. 53 merino ewes ar.d 29 lnrnbs (all counted) at lis Rd, 63 sound-' mouth eves and 76 lambs yd! counted) at 2?«, 113 {ailing and r-our,d-rr,r,uih cn.y and 127 lambs (all counted) at l€s Id. 233 four and six-tooth crossbred wethers at 32s 3d, P'J sound and failing-mouth e-jres and 33 lambs (all counted) at 203. Ir. the-wool: 79 halfbred wetber hogeet-s at 335. 325 ewe hoggets at -41a 6d, 35 errand-mouth crossbred ewes and 35 lambs (all counted) at 26s Id, 301 crossbred ewe hoggets at 35s 3d. Cattle—There was a vardin? of 72 head of cattle, the majority of which wero starve. Fat bullocks made up to £13 10s, fat heifers £9 10« 6d to £18 7s Ed, fat cowb £10 15e to .£l4, 38-month-old steers £6 ss, dairy cows £10 12s 6d to £15 104. RANGIORA MARKET. Tho Christmas double market wa3 held at Rangiora, yesterday, and there was a very large attendance. Tho entry of live stock inciuded 307 iat ehcep and lambs, 2335 etoro eheep, 195 head of cattle, ami about 350 pigs. Business was fairly brisk, and tho bulk of tho yarding changed hands. Fat lambs madu 27s Cd to 295, wethers 32s 3d to 36s Id, and ewes 24s Id to 31s 6d. In the store pens two and four-tooth weth- , era marie 24a 3d to 30a 3d, two and fourtooth ewes with lambs 16s 6d to 23s 9d (all counted), aged ewes with lajnbs 8s to 12« lOd, and two and four-tooth ewea 18s lid to 26a Id. Amongst the sales were:—Wethers: 120' two-tooth at 24s 3d, 23 at 27s -Id, 45 at 27s 6d, 135 at 26s 9d, 169 at 308 3d. Ewes with, lambs: 97 at 21s 4d, 43 at 16s 6d, S3 a-t 23s 9d, 123 at 22a 6d, 53 at 23s 3d, 40 at 21s 2d, 35 at 19s, 32 at 18s lid, aged ewes ■with lambs 230 at 10s 9d, 218 at 12s, 150 at 123 10d, 15 at 9s 6d, 24 at S3, two-tooth ewes 21s at 263. Piga—Baconeis made 100s to 1255, porkers GOa to 68s, stores 40s to 50s, and email pigs 17s to 25b. In the poultry department roosters made 4s a couple, hens 4s, ducka Cs, and geese 12a. In tbo produce yards whole ©hickwheat 7s s bushel, good seconds do. 6s, cats Gs, partridge peas 7e, graas seed 3s Cd to 4s, bran 12a per 1601b bag, sharps 1801b bag 17a 6d, pigmeal 2001b bag 20s, oatsheaf ohafE 5s Gd, old potatoes lsd lb. Cattle-—Fat cows made £10 to £15. fat stoira £11 to £14, dry «>ws £6 to £11, springers £5 to £14, springing heifers £5 10s to £12, young cattle £i 10s to £7. "WOOL VALUATIONS.

For the fourth of the Chris tchurch wool valuations under tiw Imperial wool purchase scheme, which ta&es place this weeK, there are only about 10,000 balea to be submitted. This is le«a than half the quantity that should ordinarily be available, but shearing has been delayed by s-liowory weather and the influenza epidemic. Tho wool bo far dealt with shows a shortage of 10,000 to 15,000 bides on the usual quantity. The condition of tho wool is not equal to that of last year; it contains more dirt in consequence of the prevalence of nor'-west winds since the spring, and sheep that have been in tho snow or otherwise suffered severely through the winter have a break in their wool. This may show oven more when the back country clips come in. Prices aro consequently not on as high a range as last year, although a number of dips have reached Slid, and this may be exceeded when some of the be«t wool comes forward.

On tie whole the wool is 'well clamed, growers having seen ther wisdom of getting ■up their clips better than was the case tho firat eeaaon it was offered under the Government purchase eoheme. The report from Timaru on the condition of the wool submitted there is very similar to the information obtainablo in Christchurch. EGG MABKET. The weekly egg 1 sale of the Canterbury Egg Farmers' Association was held- yesterday afternoon at tho rooms of Messrs Harris Bros., auctioneers, Hereford street. There was a very large; entry, and every lot was sold at tho following prices:— Firat grade hen eggs (2oz and over) Is 6d, second grade Is Ed to Is 5Jd. duck eggs Is 4.Jd to Is 5Jd. competition eggs .Is 6d. . . i CIHIISTCHUECH STOCK.. EZ CHANGE. LATEST QUOTATIONS. - Buyer*. Sellers, i" s. d. £ s. d. DEBENTURES— Whit combo and Tombs, . s'j. per cent. .. 100 0 0 — BANK a— . Australasia .. l'£J 0 0; — Commercial (4 per cent.. cum. 'pref.) .. 610 0 . — New South Wales .. 36 10 0 37 10 0 LOAN AND AGENCY— Dalge-ty and Co.(cxdiv.) — 10 .0 0 iS.Z. Loan and Mercantilo (ord.) ~. .36 0.0 — FROZEN MEAT— Canterbury .. .. — 10'5- 0 Canterbury (6 per cent. cum. pre'.) ... • 5 5 0 — N.Z. Refrigerating ... — .2 6 0 COAL— "Westport ... 110 6' 111 5 Westport-Stockton i..: 08 4 0a 0 GAS— Ghristcburch i.. 516 6 — MISCELLANEOUS—Colonial Sugar (Fiji and N.Z. G per cent. pref.) .. .. JO 0 0 20 10 0 Mason,' Struthers ... — 14 6 it.Z. Farmers' Co-op. — a 4 6 Sharland ' and Co. •. 1 10 0 — Sharland and Co. (pref.) 110 0 — Whitcombe and Tombs 6 16 — MINING— „ , „ Waihi •■.*346 — AUCKLAND STOCK EXCHANGE. (FBES3 ASSOCIATION* TELEGRAM.) AUCKLAND, December 1". Sales National Insurance, 64s 6d; Auckland Gas, 19e; Wilson's Cement, 15s; Northern Coal, 7s 9d; Waihi, 465.