COMMERCIAL & FINANCIAL

Evening Post, Volume LXXXIX, Issue 148, 24 June 1915, Page 4

COMMERCIAL & FINANCIAL

-«. Evening Post, Wednesday. There is very, little activity in the local > wool market just now apart from the i miscellaneous lots (cmtahings excepted) that find their way into the fortnightly sales. The demand for wool for military purposes continues, and it is expected that high prices wall rule at the London eales opening on 29th June. Up to 27th April there were over 200,000 bales now arrivals in store for this sale. The quantities then available were contributed by the following countries: — New South Wales, 53,000 ba.les ; Queensland, 32,500; Victorian, 13,600 ; Tasrnanian, 3300 ; South AustraJian, 6950: West Australian, 22,400; New Zealand, 75,500; Cape and Natal, 9300; total," 222,000 bales; also 11,300 bales Punta Arenas and Falkland Islands, and 200 bales River Pints. The Australasian statistical year will close on 30th Juno. It is, estimated that a shortage of 400.0G0 bales will be shown, due to the seveie drought in the Commonwealth. DAIRY PRODUCE.— Under permit of the Minister, the Mokoia took 4646 boxes of butter to Melbourne on Monday, also 25 crates of cheese. It is understood that the price of New Zealand butter for the Melbourne market i& stilt in the neighbourhood of 17gd per pound f.o.b. Modum cheeses for local consumption are bringing B|d per pound at the factory. London cables indicate a fall in cheese values, suggesting that the War Office requirements aro satisfied for the v moment. Some 1200 boxes of butter we're brought back from London by the Remu-ei-a- on Monday in order to meet local scarcity and the continued Australian demand. The disposal of outputs for the coming season was discussed by dairy factory directors among themselves at Palmerston 'yesterday. It is understood that this will be practically an all consignment jear. If any price were quotable at all for cheese made during the coming season it would probably be Bfd to 9d, but there is not likely to be much selling forward. In, fact, some companies have already completed arrangements for consigning all their outputs during the season 1915-16. The demands of the British War Office are keeping cheese prices at a level that in ordinary times could not be sustained, as with cheese the price i.t is retailers in the, United Kingdom find the margin too small to work upon. CANADIAN CHEESE.— The Montreal Trade Bulletin reports that the export oheese trade of Canada, which olosed on 30th April, showed approximately exports of 1,801,531 boxes, as compared with 1,657,568 for the season of 1913-14, being an increase of 143,963, as compared with a, decrease of 208,590 boxes for the previous season. The estimated value of tho past season's exports is between 22,000,000 dollars and 22,500,000 dollars against last year's estimated value of 17,000,000 dollars. Of the season's exports,' however, 227,261 boxes were American cheese, leaving a decrease in the exports of Canadian 'cheeee of 83,898 boxes, as compared with the exports of the year previous. But tho much higher prices paid during the- past season accounts for tho very material increase in the value of the Canadian shipments. A feature in the dairy districts at the time of writing was the lack of moisture, k-ain being badly needed; in fact, the country needs a steady week's rain. Sales of April white cheese has been sold at Bid to Bgd for export. English advices stated tnat the Government was still in the market for cheese. About 12,000 boxes were shipped from New York during the week ended 23rd April, costing £d per lb. lower than Canadian fodders. HEMP.— The hemp market is decidedly easier, and New Zealand sellers, too, seem to have withdrawn altogether, nevertheless buyei-6 are showing no anxiety whatever on that account. Approximate f.o.b. prices for July -October delivery arc:— Good fair grade, £23 10s per ton; high point fail-, £22 10s; low point fair, £21 10% with £1 per ton more for delivery up to 30th June. Although there ia still a fair enquiry for tow, tho demand is not quite* so strong as it was, and prices *how a t ttdenoj to weaken. They may be tak n at £10 15s per ton for No. 1, £9 J 15s for No. 2, and £8 15s 'for No. 3, with £1 more for delivery to the end of this month. .PRODUCE. -Potatoes are ruling at high rates, good table varieties being £7 to £7 5s per ton. Bran is £8 10s per ton, and pollard £9 10s per ton ; flour, £17 per ton; oats, A grade, 4s 6d per bushel, and B grade, 4s 5d per bushel; food bari t A p , e n r bushel ; 6haff ( P rime oaten sheaf), £8 10s to £8 15s per ton (Blenheim); oatmeal, £23 per ton; fowl wheat 7s to 7s 2d per bushel, according to sample. The foregoing prices are for free on board South Island ports. Bale straw is very hard to obtain under £4 10s to £4 15s per ton in Wellington. Maize is retailing at 6s lOd to 7s per bushel here Onions aro fetching £5 per ton in Wellington. Shipments of Java, maize are due m , tnis market next week, cominjr via. Sjdnej. GROCERIES.— A further advance by safety match manufacturers in England brings, the prico to-day up to 32s 6d per case of 50 gross above that ruling before the war. Burma haricot beans have advanced £2 per ton for shipment from Calcutta during- July. Thompson's seedless raisins and seedless sultanas are reported to bo 3s 6d per cwt dearor this week for shipments to be made in October next from San Francisco. Chinese preserved ginger has risen id per pound on the week. Indian lentils have advanced £1 por ton in Calcutta. A fair trade is being built up by Tasmania with Australia in filleted fish, realising 12s 6d per 141b box. Smoked barracouta finds a ready sale in Melbourne at 9s per doz fish wholesale. TEA.— Private cables from Calcutta aro to the effect that the market is very firm. Tho Colombo market is reported to bo 1 cent to 2 cents, dearer this weqk. Quantities aro up to tho average, and quality is reported to be fair. JUTE GOODS.— Cental bags have advanced 3d per doz for shipment from Calcutta in November and March next. Hessians have advanced 20 per cent, all round on the week.