COMMERCIAL.

Press, Volume LVII, Issue 17061, 4 February 1921, Page 8

COMMERCIAL.

* TRADE WITH SOUTH AMERICA.

WHITE PINE TRADE.

STATEMENT BY MR NOSWOBTHY. (PRESS ASSOCIATION TELEGRAM.) WELLINGTON, February 3. 11l response to requests from fruitgrowers and others that an attempt should be mode to revive trade with. Soutlh America, the Government has arranged for a trial shipment, if sufficient cargo is offered. The Minister of Agriculture (the Hon. W. Nos worthy) has made the following statement oil the matter: — "With reference to the shipment, of fruit and live stock to Eastern South American ports, tihe position is that the Shaw, Sav.ill, and Albion Company will arrange for a steamer to' call at Monte Video, and to carry fruit and live stock, if sufficient inducement offers. The steamer will be ready to leave New Zealand early in March, and as her travelling via South America depends upon the amount of fruit and live stock offering, it is necessary that intending shippers get in their applications for space as promptly as possible. Applications for fruit space may be made to the Department of Agriculture, Wellington, or to the New Zealand Fruitgrowers' Federation, and for stock to tihe Department of Agriculture. March is not the most suitable month for shipping breeding stock to South America, Dut it suits the fruit trade. Hence this announcement is made in. order that sheep-breeders may take advantage of the opportunity, if they are able to make arrangements to meet the difficulty existing consequent upon tihe period of the year."

(special to "the pbiss.") AUCKLAND, February 3. The demand for New Zealand white pine, timber in Australia has dropped very considerably during the last two or three months, and recently one or two sailing vessels which usually carry this class of timber to Australia have been unable to obtain cargoes. At least two sailing Bhips have left Auckland for Australia in ballast, and another had only a part load of timber. Discussing this matter yesterday, a business man with a knowledge of the trade Baid. the- reason for the. slackening off of the Australian demand for white pine was the strong competition chiefly from America. South American soft woods, such as Oregon and spruce, were now being landed _ in Australia at practically pre-war prices, and whit© pine, at the prices now asked, could not meet this competition. . The position' seemed to be that the New Zealand exporters would have to be content with lower profits or work their forests more economically. The cost of timber production in New. Zealand, he believed, was higher than that of any other country. The only thing which would cloge the Australian market to white I pine was too- high a price, because it, was suitable for other purposes than butter-box making. It had been usea largely for and also for the flooring and lining of houses, seeing that the borer did. not attack it in Australia. He certainly believed that the Australian market for white pine would continue, provided the price was on a par with that or other soft woods. Generally speaking, he added, the prices asked for New Zealand timber in Australia were higher .than the local prices. No Government control operated outside the Dominion, and there waJ probably room for a reduction. , PIG IRON CHEAPER. • (By Cable—Press Association—Copyright.) (Australian and N.Z. Cable Association.). LONDON, February 1. ■ The Cleveland ironmasters have reduced the price of pig iron £l' a ton. The price of Cumberland hismatite and pig- iron" has been reduced by . £1 per ton. It is hoped) that this will result in business, leading to a recovery of the trade. GERMAN MACHINERY REDUCED. (United Service.) < LONDON, February L The German machine manufacturers ■ an> nounoe a reduction of an average of 20 per bent.' in the price of ell their productions. AUSTRALIAN WOOL SCHEME. MELBOURNE, February 3. The new -wool schema has been registered | with an authorised capital of £25,000,000.. QUEENSLAND LOAN. BRISBANE, February 8. The Queensland loan (which, it was reported yesterday,, had been under-subscribed) has been extended to February 14th. It is understood ]£,500,000 has been subscribed. ' AUSTRALIAN'MARKETS. - * (Received February 3rd, 10.10 p.m.) V SYDNEY. February 3. Oats—Algerian feed 3s, milling 3a 6d, white feed 3a 9d to 4s, milling 4s 3d.' Mjiizo—o3 9d to 6s, white 53 9d. Potatoes —fl to £4, Tasmanian £7 lfts to £8 10s,- Victorian £4 10s to £5. Onions—Victorian £6 lOe to £8 10s. ADELAIDE, February 3. Oats—Growers' lota. 2a. BLEACHED WHEAT. (Received February 3rd, . 7.30 p.m.) SYDNEY, February 3. Jl. member of the Wheat Board? states that bleached wheat is. arriving far in excess of original anticipations. The position is more acute than had been hoped would be the esse, and the -whole queetion of allowances to farmers would need reconsideration. IMPERIAL GOVERNMENT PURCHASES. (press association telegram.) WELLINGTON, February 8. Mr T. R. Leea, Acting-Controller of the Department of Imperial Government ' Sup-_ plies, furnished to-day a statement showing" the total payments to dote by the Imperial Government on account of New .Zealand produce, which amount to £154,491,984. Details are as follows: £ Erosen 52,747,099 Cheeae „ 21,164,569 Butter .. .. ~ .. 12,536,687 Butter equalisation funds .. 1,039,433 Scheelite .. - 178,481 Wool, including profits distribute 52,756,652 Freezing companies' slipe wool .. 7,489,925 Sheepskins .. t .. .. 3,268,760 Hides .. .. .. .. 741,208 Sundries .. .. 968,952 Other business non-Imperial .. 1,570,158 AUCKLAND WOOL SALE. (FlUtn ASSOCIATION TELECBAM.) AUCKLAND, February 3. The fi-rRt Auckland wool sale since the requisition wao- held to-day. There was a fair bench of buyers, representing Bradford, ftnyrrtiMfr Continental, and local houses. The

bidding from the outset lacked spirit, and it i \™.s evident that buyers' requirements were very limited. In many instances the owners' reserves prohibited sales. About a third of the total catalogued was disposed of. There wis absolutely no demand for lambs, orutchings, pieces, or seedy wools, whilst coarse wools were saleable only at very low prices. The total offerings were 8544 bales. The highest for halfbreds was 142 d. The general range was :—Halfbred to l4jd, quarterbrei to 13id, fine Eomney 71d to -9d, medium Kom- | ney 6d to Gd, coarse crossbred 3d to 4d. AUCKLAND PRODUCE MARKET. (special to "the fbess.") AUCKLAND, February 8. More active conditions prevail this week both in wholesale and retail markets, the stimulation no doubt being brought about by the large number of sales and heavy reductions offered to induce spending. The cutting of prices is by no means confined to drapery establishments, as there seems to be a general endeavour to reduce costs, in an effort to make 'business. Ample supplies of potatoes are being sent in, and business is dull and prices low. With a large crop of excellent quality, there does not appear' much likelihood of prices showing much improvement. Local supplies are ample to carry on with until the southern supplies are to hand. The local onion crop has proved an excellent one. Supplies are now being sent in more freely, and buyers are not now afraid to lay in stocks, eo that there is a fair demand at late rates. There ia a chance of small consignments of onions being shipped to the United States during next month. Meanwhile prices are not likely to show much change. The maize market has improved, partly due no doubt to there having been practically no arrivals from the Coast. The result was that email lots sent up from Gisborno found a ready sale. The demand locally ia reported to have improved- somewhat, probably on account of the great difficulty experienced in securing supplies of fowl wheat. The latter grain will be practically unprocurable until the wheat is harvested in the South. •Sugar—Extra allotments have been made this week to enable demands for home jammaking and preserving to be met. It ia expected that the present increase will be kept up for some time. Business in oats is still restricted to supplies for immediate requirements, there being no disposition to lay in much stock of this grain. There ia an indication that an advance on present prices is not looked for. Really good chaff is somewhat hard to get, and an inferior quality oannot really be placed, even at low figures. The yield of oats for chaff has been an abundant one throughout the North Island, and as it has been well saved, less quantities' will foe required from the South next winter. It will yet be a week or two before the new looal chaff will bo ready for the market. Wholesale current prices:—Farm and dairy produce: Last season's factory butter 1b 7Jd per lb, less rebate for prompt payment; now season's 2s lid per lb, less Jd rebate for prompt cash; farmers' separator Is lid per lb. Cieese, first grade factory Is 3d per lb, exjDort size Is 2Jd, local Is 5d per lb, factory cheese la 3d per lb; hams Is 7d per lb net, bacon Is 64 per lb net; flour £lB, less disccunt of 2J per cent, per ton in 200 lib sacks; sharps $11; bran £9 ss; oatmeal, 25's, £26 per ton. Grain: Oats 4s 6d per bush6l, ex store', maize 7e. Wholesale lines on wharf: .Cliaffff £l3 to £l3 10s per ton, ex store; potatoes, new, £7 to"£7 10s per ton, according to quality; onions, new looal, 10s per owt. EXPORTATION OF WHEAT AND,OATS. (PBESS ASSOCIATION TELEGRAM.) WELLINGTON, February. 8. An Order-in-Council was gazetted to-day prohibiting tho exportation of wheat, wheatmeal, flour, bran, pollard, and allowing the exportation -of oats and other cereal®, oatmeal, crushed oata, rolled oate, and similar preparations. FEILDING BAM FAIR. '.(press association teujgram^ » FEILDING, February 3. fhio rfum fair opened to-day. There was a representative gathering- of Trayer®. O-ver 1500 rams tare to be offered, and the sale was much more satisfactory than was anticipated in the circumstances. Anything that showed quality and size sold well, but inferior sheep were neglected. The best price for stud Bomneyswasi 50gs for a ram sold on behalf of W, H. Gibson,, the 'buyer being A. Richardson, of Waiiato. With'flock Rommeys B. N. Sa«dilands topped the market at 16Jga. . ' HAWARDEN SALE. TheTe was an- entry of 1562 sheep at the Hawarden sale yesterday, of which 1220 were fat.lambe, aaid about 300 ratfe lambs. There were also a few fat ewes and- wethers. There was a large attendance, and most lines were sold at satisfactory prices. Best fat lambs made from 29s lid to 33s lid, medium "ait lambs 24s 7d to 28s 9d, forward rape lamta from 24s 7d to 255, others 203 to 22s 3d, fat ewes 24s 3d, fat withers 27s 3d to 28s 6d. The following sales were made:—Fat lambs: Account H. E. Fincham, 95 at 30s lOd; T» Costello, 76 at 81s Id; T. Crean, 60 at 24s 7d; _W. Blake, 104 at 29s lldi; J. Weld, 12 atJS9s Id; client, 46 at 265; W. Bradson, 33 at 30s 6d and 40 at 26a 4d;' -A. Telfer, 20 ♦t 33s 9d and 55 at 28a 9d; Osoar Miles, 30 at 32s lid; A. Cowie, 69 at 30s; A. Blake, 60 ait' 31a lOd; Mrs A. E. Booker, 15 at 81s lid and 37 at 80s; J. Bentley, 19 at 28s lOd; W. Purdie, 24 at. 25s Id; H. Mcintosh, 15 at 81a sd; client, 19 at 28s 4d; Stewart Bros., 39 at Sis lOdi; J. Morrison, 69 at 32a 4d; A, Dalziell, 55 at,33s lid; A. Reeoe, 45 at Sfes 6d; A. Reece, 99 rape lambs at 22s 3d; P. O'Conrior, 11S at 255; client, 111 at 24s 7d. Fat ewes-: H. E. Finoham, 26 at 24s 3d. Fat wethers: H. E .Finoham, 17 at 28s 6d. There was am entry of 26 head of catiUew. Fat oowa made £lO 15s, springing heifers £7, oowa in profit £8 5s to £l4 ss, 18-momtihs to two-year-old steers £3 17s 6d to £6 7e 6d three-year-old forward steers £9 17e 6d. ' CHRISTCHURCH STOCK EXCHANGE, YESTERDAY'S TRANSACTIONS. Sales reported:—Union Bank of Australia, LITEST QUOTATIONS. Buyers. Sellers. £ s. <r. £ 6. d. DEBENTURES-'

AUCKLAND, Fet>ruarr 2. Sales reported—X.Z. Loan, £BS; Auckland Gas, 24f1. WELLISTG-TON. February 3. Sales on 'Change—War loan stock "(1938) £BB 10s. . ' Salt, reported—Bank of NW South Wales £32 sa. DUJTEDIN", February 3. Sales on 'Chnnse—Bank of New Zealand. 4Ss 6d; New Zealand Paper Mills, 27s ltd (two salesjt

Tv.Z. Govt. SJ per cent. Inscribed. 1933 90 0 0 BANKS— Australasia 83 0 0 84 0 0 New South Wales 32 0 6 New Zealand .. 2 8 0 2 9 o Royal Bank 1 8 G Union of Australia .. 33 0 0 12 5 0 SHIPPING— P. and 0. Def. Stock 340 0 0 380 0 0 FROZEN MEAT— Canterbury 11 10 0 12 5 0 N.Z. Refrigerating {£1 paid) — 2 0 9 N. Canterbury Freezing — 3 12 6 COAL— Taupiri 0 17 0 0 18 a GAS— Chriatchurch (cum div.) 6 0 0 BREWERIES— Manning 8 10 0 3 16 0 MISCELLANEOUS— Beath and Co. 1 8 0 Cant. Publish.. Co. 1 0 0 Mason, Struthera (£1 paid) 1 5 0 United Pictures — 1 5 0 Week», Ltd. (£2 10s paid) 3 10 0 MINING— Waihi (cum div.) — 1 10 0 Waihi Grand Junction — 01 9 e