NOTES FROM THE CITY.

Feilding Star, Volume V, Issue 1289, 15 September 1910, Page 4

NOTES FROM THE CITY.

The local money market continues easy, 4i per cent, being about the rate for mortgages on the very highest class of broad-acre securities. Two of the Government's measures have given local merchants and financiers much food for thought durin-' the week. They are the Anti-Trust Bill and the Oainaru Harbour Board Enabling Bill. It is a question that has not yet been asked, and therefore not answered, whether' there has not been proceeding in London for some time past a very heavy buying of Oamaru bonds at'a very substantial discount for cash on behalf of the people of New Zealand ? Should this be correct, it would indicate remarkable prescience, combined with considerable speculative courage. 'Wool.—The present indications for the London sales opening on September 27 are for prices at least upon a par with those of the July series. It is estimated that the amount of wool available for the sales, inclusive of the 32,000 bales held over (of which 20,000 wore New Zealand wools) wiJi be 110,000 bales. Speculation is rife at tins end as to whether the Americans will be competitors to any large extent for wool suitable for their requirements. If so, prices will be well maintained, even if they do not «-o higher, high as wool uhdoubtedlv °is at the moment. Lines of crutchings are stdl finding their wav iuto the local market, and realise s r atisfactorv prices. They are wanted principally ior Japan, wliich has now come to be regarded a.s a- regular customer for this class of wool.

The duties of sid and (3d imposed by the United States on greasy wools and its probable withdrawal,' is discussed by a London wool man in the following terms: •'_ must admit to being a little sceptical regarding an immediate lowering of duties on imported wool into the United States. For years J have been in very close touch with that part- of the world, and to my mind not until there is a general election, and the people accept the Democratic ticket, will there be am- lowering in the duties on wool." Dairy Produce.—Almost all the 191.1-U season's outputs of factories' have now been disposed of. Terms are not- publicly disclosed, but it is understood that in some cases the prices to be cabled by the High Commissioner have been guaranteed : also m other cases the terms have been on an "'advance without recourse" basis. Prices for butter outputs are reported to be lid guaranteed without recourse; and in sonic cases Hid, for purchases without that condition! For cheese, London appears to be disposed to pay ojd for the season, but factories are looking i'or 5Ad. For consignments on the guarantee without recourse principle, 5 1-lGd avid 5Jd have been offered.'

Groceries.—There is but little or no change to report- with respect to eastern produce. The Mediterranean fruit- market reports by cable show that sultanas are almost double the price they were this time last year, and currants are exceedingly dear. Figs and almonds remain about the same, and dates continue low iv price. Produce.—There is no material change to report in the price of flour, which remains at from £9 to £0 10s per ton f.o.b. Southern ports. Bran and pollard remain unchanged. Oatmeal is firm at £11 per ton. Fowl wheat remains as last week. There isno change in the price of chaff at -':> io £5 5s per ton in Wellington. Potatoes have advanced up to £9 and £9 10s per ton for New Zealand, and Australia £8 to £8 10s per ton. Australian onions landed here have sold at £7 10s to £7 15s per ton.—Post.