THE CITY MARKETS.

Dominion, Volume 5, Issue 1509, 3 August 1912, Page 8

THE CITY MARKETS.

SPRING PRODUCTS' ARRIVING. During the past week only a small quantity of fruit'has been handled at the Blair and Allen Streets mari;ecs. There is now a much smaller quantity of New Zealand apples available, and She market as yet shows but little signs of improved values. The Islands shipment during the week consisted of about 10UU cases of oranges. Several lots were condemned, and burned, owing to being infected with fruit fly, and the balance of the shipment was in more or less bad condition. Only a small shipment of citrus fruit arrived from New South 'Wales this week, and high prices were obtained for mnndarins. A few Mildura lemons arrived from South Australia yesterday morning, aud realised excellent prices. Spring products are now coming in more freely., Rhubarb and cucumbers were on tho market yesterday. There were also heavy supplies of cut blooms, consisting mostly of daffodils, jonquils, freosias, and anemones. Fresh eggs are in fair suppiy, and the market shows a weakening tendency. Eggs packed in crates realised Is. ,4d. per dozen, and in cases Is. ;ld. Vegetables have been fully up to requirements', and the demand has been fair. The following prices were realised during the past .week:— Mandarins, 10s. to las. per gin case; New South Wales oranges, ss. to 75.; Queensland pineapples, 7s. to l'Js.; Sydney lemons, Bs. to lis. per gin case; Mildura lemons sold at 13s. per bushel case; Island oranges in good condition sold from 9s. to lis., but the bulk of Hie shipment was quitted at ss. to Gs. fiTi., being in poor condition. Marmalade oranges met with fair competition at ss. to us. per case. Tho market is well supplied with passion fruit, and values ranged from ,ss. to 7s. per half-case. Tasmania n pears realised from to. to Bs. per halfcase, according to quality. There were no Tasmanian apples on sale this week. The market for New Zealand apples i« poor; choice Port Albert \ Dougherty" apples sold at Gs. to 7s. Gd. For pood dessert apples about Gs. is obtainable, while cooking varieties range from 3s. 6d. to ss. Gd. Local hot-house tomatoes are selling at lljd. to Is. 21d. per lb.

Vegetables met with fair competition at the auctions yesterday, cabbages selling at Is. Gd. to 4s. per sack; cauliflowers, 7s. to Ms.; swede turnips, 3s. to 4s. per cwt. Lettuce have varied during the week. At the earlier part prices ranged from 2s. to 45., and yesterday choice realised up to'7s. per case; carrots sold at 4s. 10d. to Gs. per sack: parsnips. 4s. to Gs.; beetroot, 4s. to ss. Gd.; vegetable marrow, 6s. to Bs. Pumpkins are in light supply, and values ranger from 7s. t'o 10s. per sack; celery, 2s. fo Gs. per dozen; white turnips. 2s. to 4s. j>cr sack; rhuliarb, in small bundles, Gs. per dozen. Spinach has good inquiry at 3s. to 4s. per case. Onions are worth ,£lO to ,£l4 per ton. French bonus (local hot-house grown), Is. Bd. to Is. lOd. per lb.; new potatoes are worth 7il. fo Rd. ner lb., while old potatoes are selling at ss. to 7s. per sack.' Poultry meets with keen competition. Young roosters, 4s. Gd, to ss. Gd. a pair; hens, 3s. Gd. to 4s. Gd.; ducks, ss. to Gs. A farmer owes it to himself to instill the best labour-saving machinery ho can get tor his farm. In no other 'way will farming pay well enough to compensate for all tho trouble and disappointments of tho business. The old method of milking large herds by hand kept, many a hardworking farmer "under" for ywirs. Then tho Milking Machine came along to make his work easier and more profitable. The most economical, safest, and simplest, power for driving Milking Machines, or for general farm use is the "Anderson" Oil Kngine. These powerful and reliable engines develop more than their full rated horse-power, and sustain it for hours under the hardest working conditions. They do this with no supervision, and can bo relied upon to run from start to finish without giving the least trouble. • When ordering a Milking Plant specify an "Anderson" Oil Kngine. Andersons, Ltd., Clvristchureh and Wellington— Advt. Tho Arabs show their friendliness when meeting by shaking hands six or eight times. Arabs of distinction go beyond this —they embrace each other several times. At tho oxtonsion of the Koyal Albert Dock, London, there are to be three elec-trically-driven pumps, which can deal with about 130,000,000 gallons of water per day. Tho secret of the great success attending "Victor" Vats is due in a large measure to tho excellent workmanship anil to the first-class materials used in their manufacture. Managers of the largest fnctories recognise Hie supprioritv of "Victor" Vats, and order thorn m preference to other makes. At present very Inrge numbers of these splendid Vats are ; and factories should I place their orders now (o ensure earlv dolivery. Albert J. Pnrton, Carterton:' In area the United States of America .exceeds 3,000,000 6o.uoie jnilqa,

COMMERCIAL iTEMS. INVESTMENT* SHAKES. Tiie sn!-.-.- rcordrd were:— Cliristcli-uri'h -Meat at £15 if., and LcylandO'Rrien Timber nt. ,265. 9d. The buying and rclling quotations wore es under:— Jlnyers. Sellers. £ s. d. JC s. d. N.Z. Loan and Mercantile 0 9 0 - N.Z. mid Kivcr Piato ... ' 19 6 2 0 6 Well. Investment 0 119 — Well. Trust and Loan ... 7 15 0 - I'fildiiu; Gas 1 u b' Mokitik.t Gas 5 10 0 - Wei!, (ias ,'£lol 17 15 0 !i 2 6 Meat Export (52-i. 6d.) - 3 3 6 Mosßicl Woollen — 5 8 0 Well. Woollen (ord.l 3 10 0 - Well. Woollen (prof.) — 2 IB 0 Taupiri Coal 12 6 Leylniiil-U'llricn — 17 3 Taringaniutu Totara 2 6 0 6 7 6 Donnelly Hope and Twine 15 0 — (■olden Bay Cement - 110 X.is. Con. Dental — 116 N.Z. Drug 2 11 0 - WOOL BREVITIES. The principal features of the past Australasian ■ wool year, according to JJal-g-ety'a Annual Review, are briefly summarised as under:— Australasia produced a record clip, exceeding- for the lirst time 2,500,000 bales the exact quantity being 2,515,915 bales. Actual oversea shipments of wool for the year have been as follow:—Prom Australia, 2,020,547 bales; from New Zealand 493,368 bales; total, 2.513,915 bales, or 832761,8461b. '

The actual production of wool in Australasia, during the past year, including «S °L !i?J!? umcd in local mills ' "as been 652,761,8461b.

fho increase in the wool exports for the year was 45,165 bales, but as the average weight of the bales has been lib less than in 1910-11.- the net increase in actrrif weight amounts to an equivalent of 38,464 bales only.

The average weight of the hales has boon 331.21b., as compared with 332.11b. during the preceding season. The total quantity of wool sold in Auswimraidi™l!! the "*' St ?' car hM uc <*» 1,926,926 bales, as compared with 1.E65.167 bales in the 1910-11 season. The average value realised per bale for •'■l the wool sold in Australasia, has b-on ill. 15s. Ed., as compared with £12 10s. 4d during the pre\lous year. The average price per lb. has been Bid. per lb., as compared with 9?, d. for the previous year, and 93d. for the 19C9-10 season tiermaiiy has been our best customer for wool, ana there was also an increase' In demand for the United State; and Japan ii7 n .'. e ?L s s l,tis . li <:s give sheen numbers n.," iw,iJi,bM head, a, net increase of 994 367 head.

The sheep slaughterings for export and local consumntion throutrhout Australasia have been 19,281.257 head. The average weight of wool cut ncr head of sheep and lambs has been 7JIb.. the smie as in the previous year. Ihe monclary return per head of sheen and lambs frmn wool lias be™ ss. C2d as compared with S». sd. In 1910-11. the 1,9'f..926 bn'rw sold in -Australasia realised £22 652.090. No loss than 77 per cent, of the total ctin was sold in Australia and New Zea-

JVc proportion of. crossbred wool to merino hag increased from 24 per cent to .26 per cent. Five nor cent of the clin was composed or lambs wool: the same proportion as ti" 1 previous year.

The clip of 1912-13 is ejected to show a ('.".create of about ZKISCO bares. Fomr. euove? U 3oe.«0 ,i balel: flt U ' C dCfieienCy Wi " 0

SMITIIFIEM) COLD STORAGE. When the last mail left Enprland the Port pr London Authority had sanctioned and Had under consideration accommodation schemes of special Interest to the frozen meat trade. Iho continued increase in the importation of frozen and chilled meat into bonclou has. recently led the Port Author\yt t ; allct , 10 " the construction at Smitlihelrl of cold storaue for an additional 84,th.-0 carcasses. It has now been found necesoary to consider the desirability of extending the accommodation for this article at the Albert Dock, which, tocether with the Victoria Dock, has for many years vast been the 'principal depot in the Port of London. The Authority have bclore them a echeme under which it is proposed to convert tiirea existing sheds at tho Albert Dock into two-storv' sheds, of iy. ota U, c " sth of 11£0r ?- and ;l wicl »> <>f 120 ft. The upper portion is to he insulated and used for the ccrtin K of meat and the lower portion for general cartro It is al.'o contemplated to erect a cold store 3Coft. in length and ICC-ft. in width, five stories lush, and capable of takint--2.0.K0 ra.rcrss.es Tliki additional accommodation, which is now under consideration, is estimated to cost, about £275.0. Another evidence of the continued demand for accommonation for tonnage arises in connection with the construction of a jetty at the Western Dock, London Dock, il-'ro the approved p'.nns provided for a jetty fcCft. long by 190 ft. wide. It was decided a few months asro that only half the length should he proceeded with immediately, but in view of applications which have been received, the whole of tho work will probably be undertaken at ones. At the 'Victoria and Albert Docks thirteen railway locomotives have been found to be lroufiicicnt for dealing with tho in-crea-sinu. work. Three additional' locomotives have, therefore, been ordered, with the. holp of which it is hoped that the activity in export trade, which is so marked a feature at tliwe docks, may be adciiuately grappled with.

Customs duties collected at the port of Wellington yesterday amounted to £2469

. CANTERBURY GRAIN MARKET. (By Telegraph—Press Association.)' .' Christchurch, August 2. Grain merchants report this as beiug the dime,;! time which they have known in the market for some years. The position i.3 more unsatisfactory from the fact that there is plenty of grain to handle. If there were only freight available to carry id away, a fair quantity of wheat coul'ci be spared, and several million bushels of oat.-, could also bo exported. As the Canterbury Freezing Works close down at the err) of ii3xt week, the meat-carrying season wi'.l cor.u be over, 'and hopes are entertained Uiat cheaper freights for grain to the United Kingdom may then be obtained. Meanwhile, there is nothing doine in cither wheat oroats, nlillers still having gc-jc! stocks.of the former on hand. Chaff makes co movement, the onlv busiuess (bins lately during the wet weather being with stocks- held in store. The. only produce in which there is anv movement Is potatoes, the market for which is slightly firmer,. There is a little better inquiry from Auckland, and there is also demand for suitable lots for shipment to Australia Offerings during the week were not so plentiful as was.the cats the week before, and this has also had a liming tendency For local requirements n.nd coastal shin-' meat the quotation is £4 12s. 6d. to £4 Ifo and, for shipment to Australia, £5 Is l'o being offered.

•LONDON MARKETS. . Messrs. Dalgety and Company, Ltd.. report having received the following cablegram from their London olflce, under date of August l:-Frozcn Meat: Mutton-Market is firmer; any change in prices is in favour of sellers; N.Z. prime crossbred. Canterbury mutton, 3gd. to %&. Lamb: Market weaker: any ehanio in prices is in favour of buyer. Ileef: Market neglected. Since our last, wire prices are 4d. lower. Sheenskins: As compared with Inst sales' closing rates, fijio combing crossbred is 3d. per lb. higher: coarse combing cro.-sbred. 1(1. to 3d. higher. Clothing crossbred show an advance of id. For merinos price., a.ro unchanged. SHEEPSKINS. By Telegraph-Press London, August 2. At the sales £022 bales were catalogued but. 1100 bale* were not shown, owing id tho' strike. There was good competition, and marly all sold. Merinos were very firm and crossbreds were a farthing dearer. Tho New Zealand Loan and Mercantile Agency Company, Ltd., arfd Reduced, have received the following cablegram from their London house, under date August 2 — Sheepskins: The market is strong for merino sheepskins. Crossbred skills aro }d. to id. dearer. Messrs. Murray. Roberts and Co. Ltd have received the following cablegram from their London friends. Messrs. Sanderson Murray and Co., under date August 1-— "Sheepskins: Market advanced from id to id. per lb." , ' ' Messrs. James Macintosh and Co. report having received the following message from their London agents, under date \ugust I:—"Sheepskins: Prices for crossbred fullwoolled. both coarse a.nd fine qualities have advanced 2d., and: for crossbred half to tliree-iiuartcr-woolled, of fine qualities an advance of *d. is shown." LONDON WOOL SALES. By Telegraph—Press Association—Copyright ■ „ London, August 1. For a miscellaneous collection at the wool sales competition was maintained Prices aro unchanged. (liec. August 2, 10.15 p.m.) mi rii • ,i Lont ! on - A «R«st 2. The following arc the prices realised at the wool sales for the llcccc po'-tion" of the clips named:—Monte, ton price 9!d • average. 83d. Maugauui, Bid. and 9d' Robinson, 15d. and lljd. TALLOW. London, August 2. Stocks, M 97 tuns; imparts, 2847 ton--- dp. liveries, 1792 ton*. VICTORIAN PRODUCE MARKETS. Melbourne, August 2 Wheat. 4s. Id. In 4s. J>d.: flour ij 5< ■ bran. ,£5 Its.: pollard, £6: oats. Algerian feed, os. 2d. to os. ail.; seed, Js. 9d („ ,' s i New Zealand, s*. ?.{d. k> .«. 4<i.; m-iize" ss. ICd. to 3s. 10£ d.; reas. duns. 4~r. id \,\ 4s. 3d.: greys. 4s. 4d. to <s. 5c1.; rhall' £4 t-n; £o 2s, Gd.; potatoes, £3 to £10; oulone. „£l(»

[ HANK OF HXGLA.VD HKTUR.V. iy Tciceriiph—Press Association-Copyright lice .Aug. i 7."i") p.m.) London, Aug. 2. The Btiuk of England return issued for tho week ended Wednesday, July 111, is ns under;— Issun Dsi'Aimrr.NT Koto Issue tt7.SII.UIU C.ov.clo'jt -£11015 003 Other sccurl- ' ' - tio.l ... ... 7.434.000 GulJ 30.305.000 £37,5H,0W ri7,BH.OCO BISKISO Dni-Aimrcs-r. riopr'otois' Govt, sociirirapitnl £1-1,553.000 tins i 13.952.000 ruliliu do- Other sccuriliosits ... 17,073,00) lies... ;,. 31.755.000 Other doposits ... J1.80i.080 Kotoj „, 27,730,0)3 Best, 7-day and other bills... ... 3.501.C0D Coin-.. „ 1,350.000 X77.529.00J £77.620,000 The leading items of tl\o Bank of England return afford the following comparison:— Tbiswook Last weak. Last year £ £ £ million 30.355,003 30,705.003 38.091.030 Reserve 2U.050.000 aO.afi.UW 28.37G.0f10 Note circulation 30.0S1.UUJ 29.332.000' 3t1.2J1.0T Public Deposits 17,!!73.0:X) 17,:i72.00J 7,971.000 Other Deposits 41,E02.0i» -i1.710.00J 41.050.iXX) Proportion of reserve- to liabilities ... 43.66 60.40 GI.SJ GOVEKNMENT SECURITIES. The following uro the latest quotutlom' for Government tecuritiea. with a comparison of thoso ruliw; last week:— Variation — compared - Pries. with • last v/eok. I £ s. d. 24% Imperial Consols I 74 10 0 ]0s higlier 1 ~>:.H.\V.:l[l33Jn.n.-July! 102 U 0 Uncbantcd 34 ..K.S.VJMS.tfar.-Sop. DO 10 0 Unchanged i ,N.5.W.1!83Ai)1..0ct.! 65 0 0 5s higher 4 ~Vic. WajJan.-July j 100 10 0 Cnchaniied ii „ \lc. 1921-li Jau.-July 95 0 0 5s higher i „Mc.ltii9-40Jan.-July 82 U 0 10s higher 35 ..S.A.lUlli Jam-July 91 0 0 Unchanged •> ,S.A. UlfiJan.-July 79 0 0 Unchanged 1 ~Q'l'dl9lJ-21.1an.-July! 100 10 0 5s higher »S „«'l'dl92l-30Jan.Julyj D-l 10 0 Cncimnsod i ,Q I'd 1922- l7Jan.-July| 82 0 0 Unchanged 4 ~!s.Z.lo23.iltty-Xov.- i 101 10 0 Unchanged *] ~S\.i. 1910 Jan.-July 91 0 0 Unchanged J ~N.ii. UMr.April-Oct. fc-i 0 o Unchanged Si„\\ .A .1920-40 .Viny-Nov 0-1 10 0 5s higher „\\.A,ims-35.May-Nov f)!i 0 0 6s higher «1 „ las. JWUJan.-July 1.2 15 0 Unchanged a ..-ta-..192J-4fJJan.-July| fc4 0 0 Unchanged

RANK KATE 3 OF DISCOUNT. . The Bank of England rate was. on D-s----comber 1. 1910, lowered from 5 to 4j per cent.;,on January 27 it was lowered to 4 per cent., on February 16 to 3J per cent., and on March 9 to 3 per cent. On September 21 it was advanced to 4 per cent.. on February 8 it was reduced to 31 per cent., and on May 9 to 3 per cent. The Hank of Franco rate was reduced from 3J to 3 per ojnt. on January 23, 1908, and continued af tho latter liguro until September 21. 1911, when it was raised tu 3i per cent. On May 17. 1912, 'it was raduced to 3 per cent.

The Imperial Uank of Germany reduced its rate from, 5 to 4J per cent, on February 6. and on February 19 the'rate was lurther reduced to 4 per cent. On September 19. the rate was raised to 5 per cent., and on June 11, 1912, it was reduced to 4} per cent.

MARKET KATES OF DISCOUNT. Tho following aro tho market ratca for bost three months" bills:—

Loudon Paris Berlin rate. rato. ' rate.' percent, percent, percent. This week 3 2* 3J Last week 31-16 2J 33 Last year 2£ 2J 22-3 Short loans arc quoted at 23 per cent., as against 2* per cent, last week, and lj per cent, last year.

COLONIAL AND OTHER PRODUCE. Wheat—The market is dull, and buyers arc only filling immediate wants. The harvest has commenced in the South of England, and is progressing rapidly and favourably,,in Russia; rains have somewhat interfered with operations in France and Germany. Cargoes are tirnilv held, with littlo offering; 40s. is asked; 395. 6d. is obtainable for New South Wales, off coast; 395. is asked for Victorian, Hay shipment; 375. 6d. for Australian cargoes, January-February; 38s. has been paid for a parcel, July shipment. There is a quiet demand for wheat on spot, nnd prices are unchanged.

Hour is quiet at 2fe. for, spot, 255. ia obtainable for prompt shipment Oats are quiet. ' "A" Grade Gartons, on passage, 215.; La Plata. June-Julv. 16s. 6il. Deans are dull. Now Zealand, nearly due quoted at 335. 6d. . Butter is firm. Danish is quoted at 1295. to IjOs. Colonial is in small supply, and there are few sales. Choicest Australian. 1039. andlllos.; ununited, 110s. to 1125.; secondaries, 98s. to lC4s.; New Zealand, Ills, to IiDS. _. . Clioaw is firm and unchanged. New Zealand, 655. to 665.; Canadian, 645.-to 65« ' Uacon is very firm. Ucat Australian'" 565. to 60s. per cwt. t,- I S Ji sa i r n7 Cl i 6r,n!in J J ? et ' M P 6r cent, net titrc, lCd. lower at 12s. 3d. per cwt.; first marl: granulated, f.o.b. Hamburg, 3d. lower Ut 103. 4(1. Bradford Tops.-The market is firm, with Holidav) ' ton ° <AuBUSt 1 '" Bauk THE METAL MARKETS. . Copper, on spot, 12s. 6d. lower at £78 per ton; three months. 12s. 6d. lower at £79 5s • e cctrolytic, ss. lower at .€Bl ss. Supplies' f/3 t° ns ; deliveries. 41,696 tons; stocks M.996 tons; afloat, 6CCO tons. ' Tin, on spat, £3 15s. higher at £2M 5s per ton; three jnonths. £5 higher at £202 «n O J i«n\ Ma t<>U3; alioat ' 2861 t<J "s; on spot, 2330 tons. Lead., soft foreign, ss. higher at £18 17s du. per ton. ton' s''5''™ 11 ' ls - W. higher at 595. 4d. per Spelter, ss. higher at £26 per ton. Mining news and reports of live st oclc ■sales will be found on Page 13 of this issue.