COMMERCIAL & FINANCIAL

Evening Post, Volume XCIV, Issue 52, 30 August 1917, Page 4

COMMERCIAL & FINANCIAL

Evening Post, Wednesday. The London and Provincial Produce Exchanges, by order of the Food Controllei- (Lord Rhondda) drew up a list of maximum prices to which, the cables have | rofoiTod from time to time. They are here given for general information (although, since publication, 6th July, they have undergone some changes): — Butter—French, 203s per owt; Irish (free on rail), 1965; Danish (ex port), 2135; Dutch (ex port), 200s; Australian, 1945; New Zealand, 200s; Argentine, 190s; English (ex factory), 200s. Cheese—English (ex faotory or farm), 129s per owt to 1325; Welsh, 119s; Stilton, Is 6d per pound; New Zealand, Australian, American, and Canadian, Government controlling exports. Control pricee, Is 4d per pound retail. _ The retailer pays Is 2d per pound, including! carriage charges to his store.. Bacon and Hams—lrish (ex factory), 170s per cwt to 180s; Danish (ex port), 140b; Canadian, 127s per cwt to 130s; Scotch (ex factory), 180 a; English, 153s per owt to 1646; Dutch (ex port), 140s; American (ex port), 126 a per owt to 1395; American hams, 130s to 1455; shoulders, eta, 110b to 118s; Irish hams (f.0.b.), 154e to 180 a, less discounts. Sugar—Preserving, 6£d per pound; oubea, 6jd; granulated, 5Jd; crystallised and Demarara, s||d; West Indian muscarado and raw sugar, sid (retail pricee). Sweetmeats—Chocolates, 3d per oz; others, 2d per oz (retail prices). Tea —2s 4d to 3s per pound (retail prices). Other goods (on and after Ist August, 1917)— Butter bean 3, 8d per pound; white haricots, 6d; coloured haricot*, sjd; blue and gr-een, whole and split peae, 9d; lentils, 8d and 7d; yellow split peas, 6d; maize, flour flakes, semolina, hominy, cerealine, maize meal, a-t 3gd per pound; oatmeal, rolled oat 3, flaked or other products of oats, 4id per pound in Scotland, jd more in United Kingdom and elsewhere. • & Provision, is made that "no person shall in connection with a sale_ or proposed Bale of any article to which this order applies, enter or offer to enter into any fictitious or unreasonable transaction, or make or propose to make any unreasonable charge." With reepect to butter, it will be remembered that a. cable, publish ed last week, stated that Lord Rhondda was to fix the retail price of butter to date from 3rd September. The retail prices of New Zealand butter a.t largo stores on 6th July were 2s 2d per pound.

FREEZING INDUSTRY.—The annual 'Teport of the Auckland Farmers' Freezing Company states that 572,468 boxes of batter and 106,761 crates of cheese were rtceived during the year. Inoreased storage accommodation provides for 100,000 601b carcases additional, miking the storage capacity equal to 500,000 carcases of meat; or providing for mixed storage, meat 200,000 carcases, butter 200,000 boxes, and cheese 60,000 crates.- The National Mortgage Co. of New Zealand, reporting from London early in July, states that during Juno business at Smithlield had been difficult and trade slow. "High values hs.v» continued to rule for all-descriptions of meat, and in consequence the press and public have h«d a good deal to say about 'profiteering' in tho meat trade. Most of the criticism is unjust. We a.re plea-sed to report that better releases bave been forthcoming of Government lambs during the month. Frozen mutton and beef have been in short 6upply." Supplies of homekilled meat wore moderate during June. Scotch mutton realised from Is sid to Is 6d per lb., ajid English from Is 4d to Is 5d per lb. Ewes sold a.t from Is 2d to Is 3d per lb. English lambs met a fair tr«de at Is 5d to Is 6jd par lb., and Scotch lambs realised up to Is 7d per lb. High prices ruled for beaf, Scotch sides quoted &t 1b 3d to Is- 3jd per lb., andi English from le 2d to Is 3d per lb. Supplies of chilled beef were more plentiful at_ the close, and quotations showed a. considerable reduction. Argentine hindquarters were quoted at Is per lb^ and forequ<wters at 9id per lb. New Zealand mutton, limited releases, army demands bedng heavy; prices, wethers' BJd to 9Jd, and ewes B|d to B|d. New Zealand lamb, lOd to 10J; South Ame-rica.iu- lamb, lid.

HEMP. —The shipment of % fairly large quantity of hemp hes somewhat relieved the stores of accumulated stocks, but the fine weather of the Daet few dia.ys has favoured Mana.wa.tu millere and inoreased the deliveries. The market is still Cirm, f.o,b. values being £67 per ton for good fair grade, £66 for high faiT, and £64 10s for low fair up to end of September. For shipment October to December prices are approximately £64 per ton for good fair, £63 for high fair, and £61 10s for low. Tow prices rule at £10 per ton for No. 1 and £9 for No. 2.

WOOL—The bulk of the crutchings has been disposed of and prepared for shipment as opportunity offers. The stores and staffs are now preparing for reception of fleece wool as soon as' the season opens.

DAIRY PRODUCE—It has been reported that the Government proposed to buy the new season's output of butter. This is incorrect. What was proposed was the Government guarantee of an advancei of 16d per pound against butter in store, I consigning houses, nominated by the facI tories, to pay their advances to the Government and receive bills of lading and render account sales and pay surpluses. With respect to purchases already made up to as high as 19fd, the purchaser to take the risk of shipping, it is understood that if the Cabinet approves nil contracts for the purchase of last season's make of butter mado up to 22nd August will be allowed to stand. Nothing further has yet been done with reference to the price to be fixed for butter for the local market, but it is understood that for four months in the year a maximum retail price of Is 8d per pound, and for eight months Is 7d per pound, will be fixed. The retail prices ■which Lord Rhondda proposes to fix for sales of butter in the United Kingdom are awaited hero with much interest, as it is expected they will exercise some influence over the valuations which factories will put upon their produce for the 1917-18 season. Providing the weather is normal throughout the season it is estimated that cheese production will reach 50,000 tons and butter 17,000 to 18,000 tons. The official maximum English prioe for New Zealand butter is 208s per cwt. Up to the time of writing no intimation had been given by the Government, as to the disposal of the coming ae»*on's output of cheese for export.

GENERAL GOODS—Latest new senson's Californian evaporated fruit quotations show a slight fall in apricots, bub an advance of apples by 25 per cent, since the beginning of July.' Thompson's seedless raisins and' prunes show no change. Suit-anas show a slight reduction. Seeded raisins rule at very high rates. Mildura sultanas are still obtainable, but currants are very hard to procure. Stocks of many imported lines in local warehouses are reported to bo running low, and there is a good deal of business being done in sales matje between wholesale houses. Southern houses have bought sago and tapioca in this market, and Auckland has been buying haricot beans. Salmon price" taking- into account the enhanced freight', are likely to be fully 25 per cent. highC than those ruling last season. Japane.. matches (safeties) have made a recei.» advance. Cream of tartar still rules i._ very high rates. Citric and tartarie acid supplies are coming to hand in fair quantities^ Salt is very difficult to obtain in quantities required from any source, Australian supplies being very short.

TEA—From private cablegrams received from Colombo during the week it would seem that prices are believed to have touched bottom. It is reported by mail that the lifting of the embargo on imports is contemplated by the Imperial Government. This embargo referred to the limit to 66 per cent, of the Ceylon crop allowed to be shipped to the United Kingdom. Stocks have been- allowed to run to such a low level that the "agitation fo- tho lifting of the embargo has resulted. Should freight be available for carrying the tea tho market in Ceylon will materially harden, and prices all round advance 'She cabled report of tho Calcutta market was to the effect that all common and undesirable teas were hard Id »n)J. Only small business wafl bains done on account of the difficulty of obkwxe freight,