COMMERCIAL.

Press, Volume LX, Issue 18150, 13 August 1924, Page 10

COMMERCIAL.

POUND STILL GAINING. EXCHANGE ON NEW YORK. (BY CASUS—PEESS ASSOCIATIOK—COPTBIGHT) " {AtJSTiIAiIAH ASB H.Z. CABLE ASSOCIATION.) (Received August 12th, 5.5 p.m.) NEW YORK, August 11. Sterling reached 4.56f dollars, the highest for 1524, representing a weekend gain of over four cents. Continental exchanges started up •with a swing, the franc reaching 5./ cents., representing a gran of nearly half a cent, within a week. The lira reached 4.5 cents and the Belgian franc 5.2 cents. Observers declare that the reduction of the New York Federal Reserve rediscount rate of cable to i per cent, will o,'sist sterling in its continued rise They assert that the increases hitherto havo been helped by the absence of cotton and grain payments by Europe to America.

MEAT PRESERVING. OBJECTION TO FORMALDEHYDE. (BBCTEB'S TZL2GBAMB.) . (Received August 12th, 7.35 p.m.) LONDON, August 11. The- Department Committee, reporting on the use of formaldehyde - as a preservative in connexion with chilled beef, with special reference to imports from Australia and New Zealand, expresses the opinion that the Linley process should not be made an exception to the general condemnation of the use of formaldehyde in articles of food. . Therefore it recommends that the treatment of meat with formaldehyde, or'- any derivative, should be specifi\ cally prohibited. -

FLOUR DOWN IN MELBOURNE. (BJ, CAT3LB—K3BSS ABSOCIATIOH—COPTRIaHT) (iTJSTSALUIT AJTO K.Z. CABLE ASSOCIATION.) MELBOURNE, August 12. The price of flour has been reduced jy 5s a ton. REDUCTION AT HOME. UZSTZJOXiX A3D H.K. CABUs AESOCTA.TIOH.) (Beceived August 12th, 7.35 p.m.) LONDON", August 11. nourmillers have reduced the price of standard grade flour by two shillings, to 46s 6d a quarter. RAIN IN VICTORIA. COUNTRY BENEFITS. - (BY CABLE—PSESS ABSOCIATIOS COPTEIOHT) ' (Australian and N.Z. CABLE ASSOCIATIOS.) MELBOURNE, August 12. Rain is falling over a wide area, greatly benefiting the wheat country. Flood warnings hare been issued in some districts. GOVERNMENT FRUIT . REPORT.

The Director -of the Horticulture Division of the Department .of Agriculture has 'refollowing, report, from, the fruit inspectors the condition of locally-grown fruit and vegetables in shops and auction •rooms and. the market oonditons 'or the month' of July, 1924: . During, the .month dessert apples have been selling well, especially .consignment with'colour, which, are in very ,-short supply, on the Christchuich markets and in good demand. Cb6Hhg~-"»'pples -have teen prac-! tically. confined to Lora' Woiseleys and they have brought, gpod priceßi There Tvas ••: lull in "ihVqna.n tities coming forward during l the 'month on._.accpunt.of tha short r<-p, and-fruit in cool storage not being put on the market, yet.-.The fruit, corning. for sari is, generally. Speaking, well ' graded! All classes of fresh vegetables nave been in short supply—more espec. ally cabbages *nd ; . cauliflowers,., both ; of which • have beeni bMging" -high...prices." Pumpkins','have teen scarce "during' "the month* Onions are practically, finished and ;good lines aro bringing'very high'prices.' There his not been a great demand for The-'^bllowing""-'prices may' : ne taien as •a fair average ior the.inonth:—

-: 9s • to. Ibjii per*case; Delicious, tip to ' 15s ' par "<jase;c«okihg, ; ;.Bs '6d'to.loa per casr j Oranges—Marmalade, 9a to 11a pet case.- - Peara—Cooking, 5s to '7s per ijaa:; <Lea~ r 'lb. i ' , '-':'"v- : ' '■:.•'■ : +6 lsv6d per lb.

WaltntSj 8d to BJdper lb. Beet," 3s' per ; doreh ' Bundles; Cabbages, M6s''6d per'dozen.

Cauliflowers, ,17a l6d per dozen. Carrots, Is to la 6d* tier dozen, bundles! . Celery, 7Jd, per> bandfe. ,»,. Leeks, 4d" to 7|a per isnndlft. Lettuce, ,8s 6d per dozen. !BuTowß,i2oß'per dozent u , Potatoes, 2s to 3s per sugar bag. Onions,. local, •■ 8a c6d -per sugar bag; 17s "per cwt. '•.'"'.;■'.■ - Parsnips,•!«• to is 9d per:dozen. . •■.-. PotatossrSs' *° 'M»<*er wck. . Pumpkins, lid to 2pT per 10. i-Badisnesi 6d: to.ls per dozen.; , - r Rhubarb, 17s per dozen. Spring -.<mionßj la pet dozen. Turnips, 2s per dozenl Swedes, 2s to 2s €d per sugar sag;

(«T . ASSOaATION—COPYRIGHT! (AUSTiAJJAH AKD H.Z. CABLE ASSOCIATIOnJ; " r ' 'LONDON, August 11. The wh©st».cargo -market...is further depressed owing to' ■. ihe American exrhpnge, also gePmg-.t.-preesure. Quotations show a decHioe J of ~€d to Is a quarter.

Parcels *re_dull, sad occasionally 3d down,

FOREIGN EXCHANGE RATES. \<BT iCABl»7-PBa?8 ASSOCIATION COPTEIGBT.) (AV8TSAIJAS AHD *.Z. CABLE ASSOCIATION.) ■''■■ Hi'i'-- :^-v;IiOjxDON, Axigust 11. ■-.-■ The exchange rates »re as follows:— - ' ", Par. Aug. 7. Ang, 11. '■Vans, Si' vl'22.225 81.45 81.4 vBrussels.rir. to £1 :=.. : 22.225 88.88 8&13 Christiana, tr. to =£1 18.159 Si.it 32.57 ' Copenhagen, far toil 18.159 27.76. 23.13 to £1 18.150 16.77 17:13 Berlin, marks to £1 20.15 18i ....191 ;.-->■ billions, billions. Montreal,'dol. to £l : 4.8S 4.48 4.56J New York, dol. to £1 <-86 4.47$ :•;■ ■ 4.55| JRem«,.iire to ** •< S* 22 * 108i 10OJ Hong Kong, et to 361 * .YokoAamiB, at. to'yen 21.5 2^d 22£d 231d ,22d ; to fpelOtbgoId* 17|d J-:-/ ' : j»Deternimed-'"by brio* of .silver. 17d