FINANCE AND COMMERCE.

Press, Volume LXII, Issue 18602, 29 January 1926, Page 10

FINANCE AND COMMERCE.

SPRAYED FRUIT.

WARNING TO GROWERS. V.EFFECT ON LONDON SALES. (SPECIAL TO "THE PHESS.") NELSON, January 23. The following letter, dated January 26th, has been received by Mr J. H. Thorp, orchard instructor at Nelson, from Mr H. E. Napier, secretary of the New Zealand Fruitgrowers' Federation: "Considerable prominence has recently been given by the Press to two alleged cases of arsenical poisoning from eating apples sprayed with arsenate of lead. At a recent meeting of the Board, this matter was fully considered and jt was decided to have an analysis taken of samples of apples froiri the Various exporti-.,., districts with a view to having evidence available for propaganda work in the event of a recurrence of the scar© during the time our fruit is on the English market. The Department of Agriculture and the Public "Tealth Department have both been approached and they have undertaken to have an analysis taken, particulars of which should be available within two weeks' time. When available, this information will be cabled to the chairman of the Control Board, and the Public Health Department will officially send a copy of the analysis to the Ministry of Health, London."

The chairman of the Board, in a cable received this morning, states that the medical authorities are continuing to stress the danger to the public and that apple sales are falling rapidly. As picking for export.is now commencing, we would like to stress the necessity for growers taking all precautions possible that they do not pack fruit snowing spray stains, as it is quito possible that a few cases of such apples could damage the sale of the whole of the New Zealand fruit." Samples for Analysis. In view of the analysis referred to in the letter, Mr Thorp is to-day sending samples of sprayed Nelson apples to the Government Analyst at Wellington. These consist of last season's Stunners given by Mr P. Ching, and this season's Cox's Orange, given by Mr G. Monopoli. In view of the situation that has arisen, Mr Thorp suggests to growers that, arsenate of lead should not be used on fruit within three weeks of picking. 'lf fruit : ready for picking should be showing signs of previous; spraying, the trees should be sprayed •with clear water prior to picking, using a coarse nozsle and as high a pressure as is available. This treatment should remove all traces of sjpray and will save the necessity of wiping the fruit, which would be .a long and tedi-' ous process, and certainly'a job to be obviated during the export rush. Rigid Inspection. It cannot be too. strongly emphasised that the utmost cafe must be taken by "growers to remove spray stains. The inspection will be rigid, ■ and fruit showing stains will be turned s down. From present' anpearances the picking of Cox's Orange for export will commence on the hills about the end of next week. There may also be a light picking of Dunn's about the same time. The first export steamer is scheduled for February sth and will take pears, Wdrcesters, and possibly Gravensteins. The' second apple steamer is scheduled for the middle of February, and she will, take mainly Worcesters and Cox's Oranges, with a percentage of Dunn's. DUNEDIN WOOL SALES. COMPARISONS WITH DECEMBER. . (riIESS ASSOCIATION TBLZOBAM.) DUNEDIN, January 28; , The second wool sule. of tho Dunedin series : was: commenced to-night," when nearly 800p"l?ales put of a catalogue of 22,028 bales were'offered;. TheC bidding, except occasionally, was not so keert as at the December sale; Super, halfirbreds, and .tbree-guarter bfeds and crossbfeds' suitable for America were from id to Id ner lb dearer than last sale. On the other hand medium and low halfbreder were from Id to ljd per lb lower; medium and low thxee-quar-ter-breds and orossbreds were from par to Id per lb lower; merinos were most erratic. Super sorts were neglected and only one lot brought a satisfactory price. ..

Merinos suitable for scouring were much more keenly sought after and were making within I<J per lb of last sale's prices, but supers generally were 2d to 4d lower. There was keener competition for pieces, bellies, and locks, which can be • quoted ■ appreciably dearer; The sale will be continued to-morrow morning and will conclude about mid.day. WHEAT PRICES. SUPPORT FOR FREE MARKET. >' .- " ' ' - ' (press association telbgeam.) TIMARU, January 28. At a representative meeting of the (South Island Grain and Produce Merchants' Association' held in Timaru yesterday it was resolved to support the jesolution passed by the meeting of wheat-growers held in Ashburton on January 19th, asking for a free market for wheat, _ with adequate protective duties on' imported wheat and flour. committee was set up to place the view of the grain merchants before the Minister for Agriculture. i AUCTION OF LEASES. Messrs Pyne, Gould, Guinness, Ltd., submitted yesterday at public auction leases on sites on the reclaimed land at Lyttelton. Three lota were offered, these beinsr situated. Boutu of the graving dock. Particulars of tha leases are as follows: Lot I—2 acres 19 porches, upsat rental £317 16s Sd a year. Lot 2—2 acres, upset Tent&l £3OO a year. Lot B—l acre 3 roods 1 porch, upsßt rental £263 8s 3d.

The leasts wore ofieied for twonty-ono years. No bids were received, although three City firma were represented. The leases are not likely to bo taken up until the testa which are being made as to the suitability of ■ tlio land for' largo buildings are completed. DAIRY PRODUCE. , The New Zealand Loan and Mercantile Agency' Co., Ltd., have received the follow, lag cable advice from London: —New Zealand Batter: Choicest 176b, second grade 1608 to 1665. ■ Market Is quiet hut firm. Australian 1665. Danish 188s. Oheeae: "White 98s to 100s, coloured io2s to 104s. The siarkct is dull. CARLTON HOTEL SOLD. -Mr D. Spence, owner of the Carlton Hotel has sold the property to Mr A. CMalley, tho price paid being £45,000.

RIPE FRUIT. PROBLEMS OF TRANSPORT. (B7 CABLE— P3ES3 ASSOCIATION— COPYRIGHT ; (SEUTEE'S TELE'jaAIIS.) LONDON, January 27. A paper on the problems of sea transportation and conservation in store of rijw fruit. wa;> read before the Society of Arts by Professor J. 31. Thompson, of Liverpool University. lie said tl;o problem whether all fruits now used as food could be transported in ships and stores in dormant ripeness was being studied in the laboratories of the Liverpool University, also the nature and effects of certain parasitic organisms responsible for important losses in vegetable foods during sea transport. There was encouragement lor the belief that food wastage- could bo practically eliminated by simple, inexpensive means, and that the day was not far distant when many varieties of iniportnnt produce now considered not transportable would bo mado available. OXFORD STOCK MARKET.

Owing to the report that the butchers at two of the meat works had again commenced to go slow no hit lambs were forward at the Oxford market yesterday. Had conditions been normal there would have been a- large entry. The, yarding of sheep totalled only '294, and the sales made were M fat ewes at 255, 35 fat wethers at 255, 74 ewes and lambs at 10s Cd all counted, JO ewes at lis 2d, 10 at 15s 3d, 16 old merino ewes at 'ls 9d. There was a small entry of cattle and pigs, the prices for which were equal to late quotations.

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS,

Sales Reported—Union Bank, £l4 12s 6d (2); Kawarau Gold, 7s, 7s Id (2); N.Z. Refrigerating (contr. cum div.), 8s 3d, 8s 2d, 8s 3d. Sales on 'Change—Kaiapoi Wool (ord.), 9s 7d; N.Z. Govt. 4$ per cent. Inscribed, 1939, £96; Goldsbrough, Mort, 47 9d; Eefrig. (con. cum div.), 83 2d; Christchurch, Gas (cum div.), £7 17s 6d (2 parcels); Electro. Zinc (pref. cum div.), 375; Kawarau Gold, 7s' (two parcels).

OTHER EXCHANGES. (PSISS ASSOCIATIOH TBLBOBAM9.) AUCKLAND, January 28. Sales—Bank of Now Zealand, 575, 56s 9d; New Zealand Insurance, 8s 6d; South British Insurance, 54s 9d; Hikurangi Coal (pref.), 3s (two sales); Auckland Gas, 23s 3d; Kaiapoi Woollen, 93 3d; New Zealand Refrigerating (con.), 8s Id; Nonpareil, lOd; Waihi, 23s 6d. DUNEDIN", January 28. Sales on 'Change—Standard Insurance, 50s; New Zealand Refrigerating (paid), 17s Cd; Dominion Rubbers, 56s (4 sales). Sales Reported—Brown, Ewing (ord.), 20s Bd.

• TIMARU MARKETS.

(SPECIAL TO "THE PEESS."> TIMARU, January 'Je. Splendid harvesting weather has been experienced throughout South Canterbury durinc- the past few weeks, and cutting is rro-ci-dintr apace. Koot crops, liowever, are much in need of rain, and a pood shower or two would be generally welcomed, even at the expense of temporarily suspending harvesting. A little new grass-seed and oats has been offered lately. The grass-seed, as is usually the ease with the first of the hew season, is of fairly good quality, and up to •ls*9d has been paid for clean, heavy perennial, and up to iis 9d for Western Wolths and Italians. It is not expected, however, that the yield of grass-seed will be very large, but the quality of what lias been threshed so far appears quite satisfactory. Growers are generally fairly firm in their ideas of values. All the oats so far offering are Algerians, and an odd line or two 01 Duns. For good heavy Algerians suitable for seed up to us 9d, and in some instances •Is has been paid. Duns are worth os 6d to os 9(1. The North Island demand for Aljeriaus has hardly developed as yet, and it is quite possible that all that can be obtained will be required owing to the absence of supplies from Australia. Wheat cutting is fairly general throughout the district, but so far no samples have been threshed. Prices are expected to open at about 7s on trucks, and the quality, generally speaking, should be good, and the yield about an average one. Chaff is inclined to be easier for forward delivery on account of the purchase made in Australia. Prices locally are about X 5 5s on trucks for good bright, down to i'il 10s for inferior. The potato crops are looking well, though rather in need of rain, but very little interest is being taken in them at present. Nominal prices are £'•! Ids on trucks, sacks, in, for delivery during the digging months. In sympathy with the world's markets, linseed has receded in value, and is now worth only about i'ls f.0.b., s.i.

SOUTHLAND MARKETS. (SI'KCIAL TO "THE PRESS.") INVERCARGILL, January 28. Oafs —Business in last season's oats is practically over, and mest of the stocks have been cleaned up. The chief interest now is in new season's oats, and apparently some speculation is already taking place in the way of forward seiling and buying, spread over April to September. A few days ago the enquiry was very keen and offers from the North were received at up to -Is 9d a bushel for A grade f.0.b., s.i. To-day, however, the position seems to be rather easier, and sellers are now offering in one case at ■ls 8d a bushel for A grade. A factor in the market seems to be the possibility of the further importation of Canadian oats should the price of ours become excessive. With regard to Southland crops, although the area sown is not extensive the oats are looking well and promise to yield well. Nominal values are at present about 4s a bushel for A grade and 3s 9d a bushel for B grade. "Wheat—There is no business doing except in connexion with local poultrymen's requirements. The crop in Southland this season is small and will probably be quickly absorbed, and no doubt considerable quantities will have to be imported for millers. Chaff—The market has keen kept supplied by occasional purchases from farmers. Offerings are not heavy, but, on the other hand, the demand for chaff has'decreased considerably during the last few years, and there are ample supplies to meet feeders' requirements. The price to farmers is £5 10s a ton for prime quality. Ryegrass—So far no now season's ryegrass is available, as very little has yet been cut. It will probably • be towards the middle of next month before much is offering _ from farmers, and no new season's seed will be dressed aiid available for shipment until the beginning of the month at the earliest. In the meantime 'stocks held by merchants are filling the demand, and these are really good buying, as generally they are first-clas3 and the germination in cases is very high, considerably over • the germination of theaverage year. Merchants' stocks, however, are now practically cleaned up and northern buyers who have short supplies may find themselves delayed in getting requirements filled until the new season's seed is available. It is difficult at present to forecast .the price for new seed, but farmers may probably receive from 4s 9d to 4s 3d for best quality. Potatoes—No business is being done by shipping merchants- at present, operations bein" confined to sales of early lots for local consumption. It will he a month or two yet before the main crop is available. Operations for forward delivery have taken place in the North and the value is about £5 10s a ton f.0.b., s.i., for spread delivery, over May-July. -On these prices the values to Southland farmers would be £4 a ton on trucks at country stations. Cheese—The spot market at Home • is a little weaker, quotations being 100s to 101s for white and 103s to 104s, for coloured. Home buyers are still interesting themselves in forward purchases and quite a number of satisfactory sale 3 have been made by factories during the last few days and up to 9d a lb has been paid tip to the end of January. Butter—The market is slow at 170s to V74s. Home buyers are offering Is 5d f.0.b., but factories are not inclined to sell at this | figure.

HASTINGS RAM FAIR.

(rEESS ASSOCIATION TELEGRAM.)

HASTINGS, January 28. The annual Bam Fair was opened at the A and P. Show .Grounds m splendid weather. The catalogue was the largest since 1919, with a total entry of 6006. -today was devoted to Romneys, and the sale opened unpropitiously, there being practically no demand and lots passing in freely. This is ascribed to the .bad season which, lias been experienced and the exceptionally large offering. As the sale progressed tho\ bidding brightened up, and there was a distinct improvement , in the tnna ot tne market, prices being quite satisfactory on the averago for the bettor sorts. The top price was 20gns, paid by 1< Franklin (Wairarapa) for five shearlings, sold on account ot M. A. McLeoa, Fcildmg. To-morrow will be devoted to various breeds, as well as studs.

CEREALS. (BY CABLE-KIESS ASSOCIATION-COI'YRIGHT.) (AUSTRALIAN AND N.Z. CABL3 ASSOCIATION.) (Received January 28th, 8.55 p.m.) : v SYDNEY, January 28. Wheat buyers are offering 5s 4d bagged, and 5s 2d per bushel in bulk at country stations, but there is little response. Oats —Tasmanian Algerians, <ts yd, White Giant, 5s lOd to 6s a bushel. Maize—South African, 5s 7d a husliol. Potatoes—Local, £10; Victorian, i.13 to £l3; Tasmanian, £l4 to £3,5 per ton.) Onions— £l2 to £ls pot ton- „D----ADELAIDE, January 28. , ■Wheat-growers' lots, 5s Sd to 5s lid a bushel. . Oats —2s 9d to Ss. WOOL SALES. LONDON, January 27. At the wool sales there was a splendid selection o£ greasy merinos. There was a better tone and more competition. Prices were very firm, but not quotably changed. (Received January 28th, 11.40 p.m.) LONDON, January 27. At the wool sales a good selection of merinos met with strong competition, all sections operating freely at late rates. New Zealand brought up to 20d (average 16(1 per lb). HIDES. (Received January 28th, 8.55 p.m.) MELBOURNE, January 2S. Hides are firm at late rates. TALLOW. (Received January 2Sth, 11.40 p.m.) LONDON, January 27. At the tallow sales, 1163 casks were offered and 367 sold, at an average decliao of sixpence. Mutton: Fine sold at 45s 6d per cask, medium 40s 6d. Beef: Fine 43s 3d, medium 40s.

LATEST QUOTATIONS. - Buyers. Sellers. £ B. 1. £ a. d. N.Z. GOVT. DEBENTURES4j per cent. Inscribed 1938 96 0 0 ' 96 2 6 4J per cent. Inscribed, 1939 96 0 0 96 5 0. i\ per- cent. Bonds, 1930 96 10 0 — 4J per cent. Bonds, 1938 96 0 0 96 5 0 4£ per cent. Bonds, . 1939 96 0 0 — 5 per cent. Inscribed, 1927 ..' 97 15 0 — 5 per cent. BondB, 1927 98 0 0 — 5£ per cent. Inscrilwd, 1933 . — 99 15 0 5J per cent. Bonds, 1933 99 0 0 100 0 o 1 OTHEh DEBENTURESrChri3tchurch Tram3, 6£ per cent. — 96 0 0 Booth, Macdonald, 6J per cent. 77 0 0 — Jx.Z. Breweries, 10 per cent. Bond3 1 5 6 15 8 BANKS— Aust. Bank of Coram. 1 11 0 — Comm. of Aust. (cum div. and rights) .. 1 11 9 1 12 3 Comm. of Aust. (rights) 0 9 6 0 10 0 Coram, of Aust. (pref.) 6 18 6 7 4 0 National of Australasia(£10 paid) — 17 13 6 National of Australasia, (£5' paid) 8 15 0 8 17 0 National of N.Z. 6 13 6 6 14 9 New South Wales 43 16 0 44 2 6 New Zealand .. 2 16 9 2 17 3 P. and 0. Bank 9 0 0 Royal (£1 paid) 1 15 6 1 16 0 Union of Aust. cum div.) 14 12 0 14 13 0 Victoria (cum div.) 8 4 6 8 6 0 "Western Australian — 2 15 0 INSURANCENational 3 18 6 4 0 0 New Zealand (cum div.) 1 18 3 — South British 2 14 0 — Standard 2 9 3 — LOAN- AND AGENCY— . Christchuroh Building 11 10 0 11 15 0 Goldsbrough, Mort ... .2 7 8 2 7 10 'National Mortgage 3 15 6 3 17 0 N.Z. Loan and Merc. (ord. stk.) .. 91 0 0 93 0 0 Permanent Investment 9 3 6 — SHIPPINGHoward, Smith 1 15 3 1 16 3 Huddart-Parker Huddart-Parker (prof.) 2 5 1 0 3 4 .2 6 0 New Zealand (pref.) .. 9 0 0 — Union (pref.) 0 19 11 10 2 FROZEN MEAT— Canterbury 10 0 0 1 N.Z. Refrigerating (cum div.) , .. .. 0 17 1 0 17 9 N.Z. Refrigorating (con. cum div.) .; 0 8 1 0 8 3 Wellington — 1 10 0 WOOLLENSKaiapoi (ord.) 0 9 4 0 9 7 COALWestport 1 12 1 1 12 9 Stockton (ord.) — 0 3 0 GASChristchurch (cum div.) 7 15 G 8 0 0 Timaru .. — 7 7 6 BREWERIES— Manning ., 2 2 6 2 3 3 New Zealand .., «? 19 7 2 19 8 Ward — 3 18 0 Staples .. 1 19 9 2 0 3 CEMENTS— Wilson's i». 1 16 0 1 16 9 TIMBERv Kauri 1 12 0 1 12 7 MISCELLANEOUS— Burns, Philp 1 18 6 2. 0 0 Electro. Zino (prof., cum div.) 1 17 0 1 17 3 Electro. Zino {ord., cum div.) 1 15 6 1 16 6 Glenmore Brick, and Tilo 1 5 6 1 11 0 Mason, Struthers (£1 paid) — 13 0 Mason, Struthers (14s paid) — 0 15 0 Mason, Struthers (10s paid) — 0 11 0 Mercantile Finance Corp. (5s paid) 0 4 0 0 4 6 N.Z. Drug Co. 3 7 0 — N.Z. Farmers' Co-op. >(£5 paid) — 2 0 0 N.Z. Farmers' Co-op (£3 paid) .. — 0 18 0 N.Z. Farmors' Co-op. (6* per cent. Stock, 1930) S5 0 0 87 0 0 N.Z. Farmers' Co-op. GS per cent. Stock, 1935" — 85 0 0 N.Z. Guarantee Corpn. 0 8 0 — N.Z. Milk Products .. 1 10 n — N.Z. Paper Mills l n 0 12 0 • N.Z. Sugar of Milk .. l 5 0 ISO MINING— Kawarati .. .. 6 11 0 0 7 1 Mt, Lyell 1 5 G 16 0 Waihi 13 0 —