COMMERCIAL.

Press, Volume LVIII, Issue 17634, 11 December 1922, Page 8

COMMERCIAL.

FREEZING WORKS RESUME. Most, if not all, the freezing worka in the North Island have resumed operations for the season, and mutton and lamb are coming forward freely, although not in the great numbers that ■will be the case in a week or two (says I-riday'a "Dominion"). The prices to growers are satisfactory, especially for lamb, and this may result in the slaughter or ewe lambs. When the Meat Control Board issued a license to Armour and Co., it was stated that the latter would endeavour to develop the lamb trade with the United States, but since then prices have advanced, and the, sew American tariff imposes a heavy j duty. It means that Armour and Co. j would have to pay London parity for lamb, also the United States duty of 4 cents per lb. The high price, and the high duty have not prevented the Americans buying wool, because tne wool is badly wanted, and the same cannot be said for mutton and lamb. There does not seem to be much prospect of any big business being done with the United States in frozen mutton and lamb just at present. SEDUCTION IN PRICE OF BTJTTEE. The price of butter will be reduced by Id per lb to-day. Farmers' butter ■will also be reduced, the price to farmers being from lid.to Is per lb, according to quality. The London market has weakened slightly thus accounting for the local reduction. AUSTRALIAN PUBLIC DEBT. BISING EATHEB BAPIDLY. Tie public debt of Australia is not yet (£1,000,000,000, but it will roach that amount inside of ten years if the piresent rate of borrowing ia maintained. The • amount of the Commonwealth debt is available to June BOth, 1922. Figures for the state debts and the debts of local authorities to that date are approximate, and. a Sydney authority estimate* the total debt at £884,185,162, made up as follows: Commonwealth— £ War debt .. ~, ... 867,574,753 Other debt .. .. .. 48,495,756 416,070,609 Less amount included ia State debia ' .. .. 48,651,637 . 367,518,872 State debt* ~ ~. 483,661,290 Local authorities .., ... 33,000,000 , £884,180,162 The Australian Note Board holds £23,500,000 in gold, and the banks of Australia £tt.,4oo,OOQ t mtJdllg £44,800,000. NEW COMPANIES. Registration of the following new companies is announced »in thitf week'* "Mercantile Gazetto":— , Manning, Henderson, and Doreen, Ltd. : '• •' 2tegd. aA a private company Nov. 29th, 1922. Office: 169 St; Asaph street, Christchurch. Capital:-. £SOOO, into 5000.sha^ee'of £1 each. Subscribers: Christchurch'—A. JT.., Manning ■;:..^:!^W»^;W.'''^.aßndelS(nk'■-lfibt> > S. R. Doreen ■' 1600. ' Objects:. iTo acquire and take over as a going concern and to carry.on the business i vv>f jdfeckery;;and merchants, im;'V:;s porters,. fancy;:igbods merchants, -eto.'j lately )^oarrwdon ■ ky'-A't- ;■'■' :■; ■pMarlbowhigh gnipjing Co., Ltd. Kegd, as i: SLltlpnyat*; ydontpihy Nov. - 21st/:I92SL Office: .PS iTJWEer i «nd*LeVienVf Office,. Waiinea.* street, ;:;-i^lspiuV-papital: £8330, i into ;88SO;shares of ipiJft- Nelson—A. E. Tasker Z&;tBQ£B%CZ lOrruat;. 870, E. B. Moore 870, P. K. Lane UiO; PuO. W. Eiley 870. Ob- ■£ -".vy jscta.:.';, T» : acquire:»-»«, a going concern the vessel jVahßarie,:; now lying in Picton ■■■hathiro, charter,, purchase/ and work steamships, i? ■:/ and;other vessel* of any class and to enter if oontracte ior the carriage of mails, paseto. s£% ; JDahy Co., Ltd., to £20,000 ;Ws|hy' : o7e«tion of additional capital to amount ■ of £6OOO, into 2600 shares of £2 each, issued ££vi>^'bTdlhary,ahares.: ■■'• '' . . iJlsS'TOwkuka. 3Vool Works, Lt& Capital inBULLETIN. 4 1 -■ ■■■ T 4T*J : ■'«?R^**» 3ia <*? l -' : i»rn^^BV«';not of !^eai^" V "Ereaa": roin,ilia?rutux« to have ■ at yf|?v®h«^BjO^-intended ,in the future to - pub-. for * :Zaal»6V : S The'foUowing i*i the price list for '■' Wanganiii:-»- ! »3S=?JW'M !, '4W' i WiK'*-i-?J , . r ■,!.-;y-tt';U' film TlTto ■ TXT-W' 'i^^ma^a.^.'-^ii^' .—,,.;: v .: —: ; ..«Jd-i <:■ i2 •* ■■ t " : C ■ <■:*. -:8,4 .-..■. -4d* : ,i' ;; — ' lr#W«Ml^liaml>i' ! Piime^'' v ' ~■•"'.■'■'•■'•'''.".•■•' - ?. : Quaii^;;-^<^'^ : tevi • 9Jd : - : ' ■'" -. g&^^«^S^r^b*e^^i'PM , .• * 20S':':*120s. •.•.>■:. oji,:. KSSSCpSlcow^beet:^.lQOlhVJfc/. jvis,--. ;•. &w pe*: lOOft: -12s 6d%» 6d • - ■ - f|i|^di^ ; 'fair.. \;S.ft;»ii^s*ioe, ; 4j)d entries of stock comprised fat nip to those' i^*BS^i*^**HW^«^' ;^^ store 'MIi f .»!J^* l ■«sl»j'■•%^^•!••*^'v , was s^:^^m^m?U ; Miittm: ; F*t «we« 18a 6d to' baooa %s : M^^^,«l. : :»hopP««; So^- :: porkara;-80s' «ys£:^|»i :s 31a :«d to?8o* small :*» <• to .a&Vatore 4Ba, vyeailftga £1 10* to 43. store ,p tf- <fcld C^m Ei , s^jSwj*iß»^";iitV'wweot-' , 't6'" sit«s v -and. f 'stated;th»t f ■= S'-'iai^c^ 'W'inwtotood"iUi*t. iraTline wiU be on K s ; : ;""';,' ;••"■; ,*V'*';"-.: ■"-' " : ' '■;:' ; :

THE END OF BAW.R.A. DECISION WELCOMED IN YOBKSHIBE. (By Cable—Press Association— Copyright.) (Australian and N.Z. Cable Association.) LONDON, December 8. The decision of B.A.W.K.A. to windl the Association up is welcomed in wool circles, and by Australian pastoral and companies, which are generally of the opinion that B.A.W.R.A. having mlfilled the functions for which it was formed there is ;io use in maitLtaining it. One leading wool merchant said tnere was a feeling ot relief in Bradford, where B,A.\V r .K.A. was regarded as a raonopo:y favouring the growers rather than the interests of the trade. Consequently there Mi-aB unreasoning, perhaps unjustifiable, prejudice against -ji.A.W.H.A., but it is admit- : ted that 8.A.W.E.A.. carried out its poucy of limiting supples acceding to the needs . of trade in the rco3t satisfactory and considerate manner. ■ Sir Arthur Goldfinch (London chairman of 8.A.W.R.A.) stated that he was personally glad at the shareholders' decision. Tinder the headlines, "The Doom of 8.A.W.K.A.; Sir John Higgins's Fairy Talea," the "Yorkshire Post" says:—"The decision v.-a 3 made after the meeting had lis- -J toned to the voice of the charmer, Sir John j Higgins, who delivered another' speech which [ firmly established his reputation for fantas- i tic conceptions in the form of commercial , fairy tales. Sir John Higgins and those i acting with him have' been compelled to dis- ] close what lias undoubtedly been the real motive behind all they had done from the commencement. They thought they would be able to permanently fix 8.A.W.R.R., or ■i similar Association, between the Aus- j tralian wool-growers and the wool buyers ! and users, to exercise the function of regulating supplies and prices. The scheme Sir John Higgins placed before the meeting causes one to review, in a severely sarcastic frame of mind, some of the assurances given to wool-buyers and users during the past two years about B.A.W.R.A.'s purpose being only to realise on carry-over wool, and that the directora desired to do thatas speedily aa possible. Those concerned in our wool trade and textile industries are thankful that the wool-growers so pronouncedly voted in favour of the buying and selling of wool being allowed to revert to pre-war methods, and that values should be decided by the law of supply aond demand, uninfluenced by artificial factors such as an entirely urunecessary association acting as middleman and controller. Sir John Higgins's suggestion regarding the reconditioning and appraisement of wool make one wonder if he knows anything at all of the wool trade and textile industries, however much he may know of the business of wool-growing." The "Yorkshire Observer" says:—"One after another the various schemes for the control of ihn wool industry have died a natural death because no one really wanted them except their promoters. Now B.A.'W.R.A., the last phasa of control, has heard its death-taiell. There has been no sympathy on this side for Sir John Higgins in his various attempts to make B.A.'W.R.A. ft permanent body. His special pleading has become almost ludicrous so far as this country is concerned. It is doubtful whether a dozen people could be found to support continuance of B.A.W.'R.A.. and now Australia, which is regarded as B.A.W.R.A.'s stronghold, mustered a beggarly 15 supporters for Sir John Hisgins out of 300. These figures tend to confirm the idea that the "agitation for retention of B.A.W.R.A. originated with,: and has been, fostered by, specially interested parties. There are now under I.OOO.OOObaIes in B.A.W.R.A.'s hands. When this is disposed of the Association will quickly cease to exist. Everybody concerned, except Sir John Higeins and his handful of supporters, will welcome the day when pre-war methods of supply, manufacture, arid distribution are restored free and unfettered." ENGLISH MARKETS. FROZEN" MEAT AND GENERAL. (By Cable—Press Association—Copyright.) (Australian and. N.Z. Cable Association.) (Received December 10th. 6.5 p.m.) ! LONDON, November 9. . Mutton—South American' ewes Bid. iliamb—Canterbury seconds 10Jd, Southland 11 Jd, North' Island 1 , none ■ offering: South American light lid. . Frozen Beef—New Zealand fores, BJd; Australian crops, 4d; Argentina fores, 4d; Uruguayan fores, 4Jd, hinds, 6Jd. Other meats are unchanged. Cotton—Liverpool quotation for American middling • upland, January delivery, 18.82 d per lb. . ■; Rubber—Fine hard Para, 18id per lb; Plantation, first latex crepe, 13id: smoked rubber sheet, -18 id. ,„ Jute—Native nrst'inarks, December-Janu-ary shipment, £B6 10s per ton. Hemp—New Zealand, November-January shipment, £32. Copra—Bagged South Sea, December-Jan-uary shipment, £24 5s per ton. Linseed Oil—£Bß 10s per ton (equal to 8s -Id per gallon) Turpentine—lo4s per ewt (equal to 7s 10Jd per gallon). / ' " FROZEN MEAT. Messrs Kaye, and Carter, Ltd... have received' cable ad vice from Messrs' Gilbert Anderson and Co., Ltd!, London, of the following Smlthueld prices for the • week ending Secember Bth, 1922 (these prices are on . «,.. "delivered" basis, that is, including storage charges, cartage, etc.):—Prime' Canterbury lrftob, up to 861b lljd, 881b to 421b llld, 421b to 501b lOJdj Southland and specially: selected North Island lambs, up ■to 421b fllid, second qualUy t lamb lOid* .New Zealand ox beef, ewes, up to, 641b 6 8 d. .'-. •""■■■'.•■■ ,' The- New, Zealand Loan .and Mercantile . Agency Co., Ltd., Christchurch,; have received a cablegram from London, dated i>e-:' cember 6th,, reading as - follows: New v "Zealand' Frozen Meat —Lamb, lljd £er lb. Mutton—Quotations unchanged ast quotation, November' 15th, 1922: — "Wether and maiden ewe, light BJd per lb. ,' heavy 7!d per lb; ewe, light 6Sd per lb, heavy, 6|d per Beef—Ox hinds, 4Jd per lb, fores B|d per lb; cow, hinds,3Jd per lb, fores BJ* per lb; cow, hinds B{d per lb, fores B|d per lb. Market stow. LONDON WOOL SALES. The New Zealand Loan, and' Mercantile Agency Co., Ltd;, Ohris'tchurch, have just received a cablegram from London, giving the • under-noted , market information, under date 6th inßtant: January Wool Sales—Arrivals up to December 2nd, including branch specifications, Port' -Albany, .Mahana, "Port Sydney, Westmoreland, Kaikoura, and Whakatano, are available. TALLOW. ; ; •Messrs A. H.'-Turnbull and Co. have received a cable from Messrs W. Weddel and Co., Ltd, dated London, 6th, reading as follows:—"At tallow auctions ,to-day 1830 casks were offered, of which 611 were sold. Prices unchanged." BUTTER AND CHEESE. Messrs A' H. Turhbull and Co have received a cable from Messrs W. Weddel and : Co., Ltd, London, advising as follows: Danish butter, 200s to 2025; New Zealand unsalted 180s, salted 170s to 1765. Danish butter nominal price. New Zealand batter steadier.-New Zealand cheese, white 1225, coloured 1245. Market quiet, but firm. , WHEAT MARKET, • (Received December 10th, 11.5 p.m.) LONDON, Deoember 9. Cargoes . are quiet and prices ■ are unchanged. . PRENOH ZINC SYNDICATE'S DEAL. ".;.' (Received December 10th, fi.s p.m.) CHRISTIANIA, December 9. A French sine syndicate called the Royal Astuxienne is negotiating for the purchase of the Tyeselfaldene Company, formerly owned by a British'company, and valued during the war at 13,000,000 kroner. It is reported the •Norwegian Government favours the sale.; - The baUmce-oheet of the Taringamutu ' Totara Sawmills, Limited; for the year ended October Blst, 1922, . shows that the gross profit for the period was £19,364, and' tram revenue and another small item brought the . total up to £21,566. The expenses amounted t0;£4946, and the amount written off, together with the reserve for income-tax, totalled £3498, leaving the net profit at £7124. There was brought' forwaid' from the previous year malting' available £9125. An interim dividend of Is per ahare waa'...paid is April last, and it is now proposed to pay a further'dividend of Is per share and a bonne of , a like amount, making- in all 8a per share, equal to IS per cent, on the . paid-up ; caiutal,wmoh abaorba'£9ooo, leaving £l«£ to be oacried forward. In their report the , directors state that "business- is now being done at satisfactory prices, and prospects for the ensuing : year are distinctly promising."

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AUCKLAND STOCK EXCHANGE. (PRESS ASSOCIATION TELEQBAM.) AUCKLAND, December 9. Sales:—Waihi, 34s €d; Soldiers' Inscribed Loan, £99 17b 6d. TATTERSALL'S HORSE SALE. At Messrs H. Matson and Co.'a weekly horse sale in Tattersall's on Saturday some 30 horses were forward on account of 25 different owners. The yarding was a very serviceable one of all descriptions, from ponies to draught geldings. Buyers seemed to have in their mind's eye any farm horse selling at round about £l6 to £2O, therefore halfdraughts and useful aged "horses met with keen demand. The sale waa highly satisfactory, and prices held firm at late rates, for all sorts. Best heavy.draughts from £25 to j8415, active to £2B/ farm sorts to £lB, best business cartvsorta to £l2, best light horses to £l9, aged and blemished from £3,' best ponies to £ll, weedy from £2, saddle hacks to £B. Consignments were handled for Messrs Stark Bros., Kaiapoi, Dr. Maitland, Hiccarton,' - J.' Donaldson, West Melton, J. Price, MoPadden's road, J. G. O'Neil, EHesmere, L. McQuillan, Woodend, W. Lowerj, Southbridge, J. Leslie, Islington, W. J. Doyie, Doyleston, Sam Millar, Irwell N. Marsh, Harewood, Chas. Davidson, Sockßurn. THE PROPERTY MARKET. Jones,,'McCrostie Company, Ltd. sold, by public auction in their lands sale rooms on Saturday on account of the trustees in the Estate of the late J. S. Boteyn, a blocS of land situated in Bligh's road, Papaaui, with frontage to Idris road," containing 1 acre 29 perches, to Mr Chapman, for £240, and a- block of land in Idris road, adjoining the above, containing 2 roods, 29 perches, for £275,'t0 Mr White; also, on account of the Kegistrar of the Supreme Court,, the property situated at No. 37 Leinster road, Mexrvale, comprising half an acre audi T house of 6 rooms, to the mortgagee. SATURDAY'S POULTRY MARKET. Canterbury CbJop. Poultry Producers, Lid. report a large entry of poultry: for their first Christmas sale on Saturday. There was an entry of over 3000 birds. The demand was good for prime birds, though a huge proportion of the entry was unprimed. Tftble chiokens realised 6s 6d to 15s 3d, table ducklings 7s to 16s, hens 2s ed to lis, ducks 4a €d to 10s 9d, goslings 6s 6d to 16s, turkey a 13» 6d to 47s 6d, all per pair. •■:■- 800 MARKET. Large supplies of eggs continue to come forward, *nd there is a good demand. Canterbury Co-op. Poultry Producers' Ist grades are la 2d, seconds Is Id, and ducks la 2d per.doMß, —a