FINANCE AND COMMERCE.

Press, Volume LXVIII, Issue 20497, 16 March 1932, Page 12

FINANCE AND COMMERCE.

FAT LAMBS. DISPARITY IN PRICES. DISCUSSION BY FARMERS. A discu-sioii oit the prices received l.v farmers for tecond-grade lamb and iho prices cjuoted in London took place at the monthly meeting of the committee ot" the Waimate A. and P. Association. It was resolved to ask the .Meat Hoard to supply more information in regard to markets and shipments. The matter was introduced by Mr. Meßae, who asked why it was that lamb buyers wero giving such a lot less for over 361b and second quality lambs, while London prices were practically the same as for first grade. The chairman said there had been ;i l,ig difference, but he did not think a lot of attention could be paid to tho reports Ironi Home. Tho Meat Board should bo responsible in the matter. If the freezing companies were making big profits out of second quality lambs speculators would be coming in. Mr Meßac said that all the Meat Hoard had done was to regulate shipping. Mr J. C. Hay said farmers should be helped to a far greater extent by more information from tho Meat Board.

Mr Sinclair: We liardlv know thero is a Meat Board in existence. Certainly. it lias done a lot of good in regard to shipping, but apart from that farmers receive little or no assistance. The matter of supplies from other countries would be of great assistance. LONDON WOOL SALES.

A STEADY MARKET. (f KITED PRESS ASSOCIATION—M JCI.ICTBIC TEUSGBArn—COPYRIGHT.) LONDON, March 14. At the wool sales 8018 bales were offered, including 3472 for New Zealand, about 5672 being sold. The market was fully steady, aml offerings were mostly clearefd, with a general demand for greasies. New Zealand, Birchall, top price lOd, average BJd. Seoureds, Weka Downs 15Jd and ISJd. The Bradford tops market 'is quietly steady.

SYDNEY SALES. VALUES HOLDING WELL. (Received March 15tli, 9.15 p.m.) SYDNEY, March 15. At the wool sales to-day the offerings totalled 10,124 bales, of wliich 9007 were sold, also 637 disposed of privately. Yorkshire was the chief operator. There was fair support from France and Italy. Values are holding well. Greasy merino made to 13} d. BANK RATES.

AUSTRALIAN DRAFTS. (rstiTKD mr.ss association—by electric TELEGRAPH—COPYRIGHT.) LONDON, March 14. Tho Associated Australasian Banks have altered the London selling rate on Australia drafts as follows: Mail transfer £125 ss. The rates for purchasing bills on Australia are as follows: £ s. d. Sight .. .. 126 10 0 Thirty days .. .. 127 2 6 Sixty days .. .. 127 15 0 Ninety days .. 128 7 6

NEW USE FOR FLAX. MAKING ARTIFICIAL SILK.

A demonstration of the actual manufacture of artificial silk yarns and cellulose hydrate sheets from New Zealand flax (phormium tenax) was given in the Dominion Laboratory by Dr. J. W. Brown, a scientist from Australia, who is visiting New Zealand. The gathering which witnessed the demonstration included the, Hon. , R. Masters, Minister in Charge of the Department of Industries and' Commerce; Sir Apirana Ngata, Mr W. J. Broadfoot, MJ*., Dr. E. Marsden, and Mr R. L. Andrews, assistant chemist at the Dominion Laboratory. The three distinct stages of processing were fully explained and demonstrated by Dr. Brown. These are the extraction of the cellulose from the flax leaves/the preparation of the colloidal cellulose solution, and the precipitation of the cellulose from the' solution in the form of filament artificial silk yarns and transparent cellulose hydrate shecta. Of particular interest was a demonstration of Dr. Brown's-process for the after-treatment of cellulose hydrate sheets to render them suitable for the wrapping of butter for export. This serves as a preventive against wefod taint and contamination from associated substances.

The demonstrator explained that phormium tenax was an eminently suitable form of plant life for raw materials for the production of artificial silk yams and cellulose hydrate sheets. The finished products were inspected, and It was pointed out that they compared favourably with similar goods produced in Great Britain and in the United States from white spruce. The mechanical processes were explained by Mr A, K. Willson, chief engineer of the Australian company which has been formed to exploit Dr. Brown's inventions. . MINING. WAITAHU GOLDMINING COMPANY, LTD. - Messrs \V. A. Mitson and Co., Dun*dia, report tliat the applications received for reservations of shares in the More-named company from the sharenolAmi in the promoting compa_y "ovflopment Corporation, Ltd.; totalled 280,400 sliares of 5s each. As total contributing capital of the on '.y 136.000 shares ci ?rHi'i r MSU ? !* heavily over-sub-before publication of the pros-

SHOPPING WEEK. ARRANGEMENTS IN CHRISTCHURCH. A meeting of the General Committee of tho New Zealand Shopping Week was held on Monday evening, when arrangements were completed in connexion with this event. It is anticipated that this week which will be observed from April 6th to 16th, will be the best New Zealand Shopping Week yet held in Christchurch and all arrangements are well in hand. It has been decided, to offer certificates to the scholars of the fifth and sixth standards of the City schools, who write the best essays on the New Zealand Shopping Week. All retailers and manufacturers have been circularised regarding the details and both sections are working in with each other to make' the week a. success. A* letter was received from the Christchurch City Council stating that arrangements have been mtido for. lighting the streets with coloured lights during the above-mentioned week.. Arrangements are being made for the Boy,. Scouts of - Christchurch to parade the streets on the Friday evenings, and Sat-' urday. mornings, carrying a slogan "Buy New Zealand-made Goods." The organiser reported that a large large number of prizes had been received from the manufacturers, to be given to the winners of tho shop window display competition. The, sub-committees are being called together during tho next fortnight to make final arrangements regarding the displays.

Mr A. C. Maxwell will speak from Station 3YA, on April Ist, in connexion with the New Zeaeland Shopping Week and Industries.

Following are the committees ' ap pointed:—

General—Messrs J.- Murpliy (chair man), C. Burson (rice-chairman), J; E Hay ward, A. G. Cannons, F. W. J. Bel ton, E. Rudkin, W. A. Bascand, A. W West, and J. L Hay. Grocery and Confectionery sub-com mittee—Messrs' R. ; H. Webb, W. A. Bas cand, F. G. Bristed, T. P. Penmen, S H. Watts, and W. Tuck. Furniture—Messrs E. Archbold, W Wilkinson, B. Coclcs, A. Sellers, D. A Don, and R. Beveridge. Boots—Messrs; F. L. Hutchinson, Tt Woolcock, C. Ives, S. Robinson, and H Duckworth.

Window Competitions—Messrs A. G Cannons, W. A. Baseand, F. L. Hutchinson, and C. Bijrson. Women's Clothing—Miss Chapman, Messrs E. Rudkin, and C. Crawford. Men's Clothing—Messrs J .Murpliv B. C. Midgley, W. J. Smith, C. Sherrard! and J. Meikle.

Woollens—Messrs H. D. Mason, E Rudkin, C. Sondall, and J. A. Petrie. Hose and Underwear— Messrs W C Fairbrother and E. Rudkin, and Mrs Davidson, Miss Turnbull, and Mr Read Chemists—Messrs F. W. J. Belton, e! R. B. Harding, C. Stevens, and C. J Henty.

L. V. Brian R A. Campbell, A. T. C. Sellers, and C.' Burson, CANTERBURY MARKETS (B» OUR COUMERCUT. KDITOK.) ■- Tuesday Evening^ Ihe grain- and produce market has shown little life so far this week. The principal interest centres around the potato market, prices in which remain firm at tlie week-end quotations,' i.e., £5 7s 6d f.0.b., s.i., for "prompts" and £6 12s 6d ; for "spreads." Growers, however, are no more disposed to offer than a few weeks ago. The price on trucks is'£4 7s 6d to £4 10s a ton. Some crops" in the Kaiapoi district are badly affected with a ; disease that is suspiciously like blight.. The stalks are .drying off, although in only odd cases Bo .iar have the tubers been affected, The trouble has some of the characteristics of ' the destructive Irish blight, but in .others it is different. The offensive odour exuded by a crop stricken by Irish blight is not evident so far, but. rain generally develops this feature of the trouble. As Irish blight is very quick acting a very short r iime. should be necessary to determine if; this is tho present trouble. The crops iare likely to be poor enough without this added loss. Fowl wheat is still maintaining values about 4s 4d to 4s 4Jd for prompt and 4s ssd for spread. Oats are firm and sales have been made at up to 3s 6d f.0.b., s.i. for A Gartons.

Chaff values are influenced by the Blenheim prices, And the local figure is £4 15s a ton, f.0.b., s.i. Partridge peas are easier now that the shipment Home has been completed. .The failure of the exchange to advance has had a further steadying effect. Onions are slightly easier and quotations to farmers are £6 15s a ton. Tho boat with the shipment for Sydney leaves Lyttelton. on Friday. Quotations. The following are quotations for produce to be paid to farmers, on trucks, free of commission, sacks extra, except where otherwise stated:— Wheat—Wheat Marketing Board's price: Tuscan, 4s Bsd> f.0.b.; Hunters, 4s 10£ d; Pearl, 5s OJd. Fowl Wheat—Prompt, 4s 4d to 4s 4§d; spread, 4s 5Jd. Oats —A Gartons 2s 9d to 3s for prompt; B's, 2s 6d ; Algerians, 3s; Duns 3s. Bran—£4 a ton for shipping, £5 local.

Pollard—£s a ton for shipping, £6 10s local. Flour—£lß 12s,' with the usual increments for small packings. Peas—ss a bushel. Potatoes—£4 7s 6d to £4 10s. Onions—£7 to £7 10s.

Cocksfoot—Akaroa, 6d to CJd.; Plains. 1 4d to sd. Perennial Ryegrass—To 4s. Italian Ryegrass—3s 6d to 3s 9d. White Clover—ls 6d to Is 9d. AUCKLAND. [THE PBESS Special Service.] ■ i 1 AUCKLAND, March 15. Potatoes ara in heavy, snpply from local sources, and the market is weak. Merchants are quoting from £6 to £6 10s per ton ex store. In the Rangitikei tho position has eased substantially, and potatoes from this source are £1 cheaper at £6 10s. The onion market is a little firmer, and prices have moved up to lis 6d per cwt. There is jio change in the prices of pollard and bran. Merchants report that feed oats are almost unprocurable at the present time. Canterbury farmers ore busy with the wheat harvest,. and it is too early for Southland to market its ost crop, hence the shortage of offerings. Chaff is plentiful, with quotations at £8 10s per ton. There have been heavy supplies of wheat iti Auckland recently, and'these liavo met a brisik demand at late. quotations. .Maize is very firm, .Local prices are unaltered at 6s 3d per bushel. ex store,' but direct from Bay of Plenty are now comparatively, null. .