COMMERCIAL.

Gisborne Times, Volume LXVIII, Issue 10730, 30 October 1928, Page 2

COMMERCIAL.

MJJNDON SHEEPSKINS SALES. Messrs Dalgety and Co,, Ltd., have received tho following cable from llieir head office, dated 26th. insfc.: “At the London sheepskins sales, 5930 bales were olfered, of which 2825 bales wore sold. As compared with closing rates of last series: Merino combing skins 10 per cent lower; line xbd combing fully 10 per cent lower when sold; clothing 5 to /4 per cent lower; xbd medium and coarse practically no demand; lambs <T to 10 per cent lower; bids, on an average, were 15 per cent lower.” 'Following is a range of prices realised:— Merino ;J to full-woolled 134 d to 15cl; iimrino -V to half-wooll-ed, lOd to life! ; short and sliorp 7 4 cl to 9Jd; crossbred 3 to full woolled 13- to 174c1; crossbred 3 to full woolled medium and coarse 104 d to 14- 1 ; crossbred 1 to 4 woolled, fine, lOd to 15.1; crossbred 1 to 4 woolled medium and coarse 9cl to l2.Vd; crossbred short and shorn 8d to 124 d; lambs 11. kl to lG4d. Quotations for crossbred medium and coarse are largely nominal. STOCK AND SHARE MARKET (PreßS Associatiou.) AUCKLAND. Oct. 29. Sales on Change: Oliineinuri Mines 7s 5d ; 'Wilson’s Cement, 40s; British Tobacco, 445. WELLINGTON, Oct. 29, Sales on Change: National Insurance, I6s 4d (2), CHRISTCHURCH. Oct. 29. Sales tin Change: Commercial Bank of Australia, 30s 2d; Mahalctpawa, Is 6d (2).

LONDON PRODUCE MARKET

The Bank of New Zealand have received the following cabled advico from its London office for the week ended 27th October: Butter, weak 176 sto 178 s; cheese, slow' 107 sto 109 s; wethers, the market is inclined to become weaker and supplies are more than sufficient to meet the demand. E-fves, it is thought prices will remain steady at last quotations. Lanlb. prices are- maintained with difficulty. Beef, the market is depressed owing to heavy supplies Australian. Quotations, wethers, light G’d ; ewes. 44d to sid; lambs, twos 10s to lOfd, eights lOd to 104 cl, fours’ 9-id to 9id, seconds Sfd to 9d; ox, hinds 44d to 4fd ; fores 3d to 3,fd; row, hinds 4Jd to 44d, fores 3id to 3 id.

MAIZE RATHER DULL OF SALE. The position in regard to maize has undergone a slight change during the week, states the Auckland Sun, and (■he wholesale market is rather dull at the- moment. One or two rather large shipments arrived from Gisborne early in the week, the greater proportion of which was sold at the wharf. Merchants are mostly well stocked for immediate requirements as a result.' although by not any stretch of imagination could it ho justifiably said that heavy supplies are held in store- in Auckland. This is not the case, as, with the Bay of Pelnty feeding all the southern part of the province, Auckland merchants have only been handling stocks sufficient to meet their immediate requirements, waiting until Whakatane sellers are finished before making many forward commitments.

The position appears quite sound at the moment, as there is a steady if somewhat quiet demand for the grain from poultry feeders. Auckland merchants arc not getting any into South Auckland stores just) yet, as there still appears to, be a fair quantity in small parcels finding its way through from Whakatane. Gisborne merchants appear to havo overstepped the mark in their forecast of a sudden rise, hut then, again, seine brokers from that quarter tend to go to tiro other extreme, forecasting lower prices, claiming that Auckland stores are full.

As far as Auckland merchants are concerned, it seems that as Jong as they are covered for immediate requirements they are not bothering, hut are merely waiting to see how things go in the Bay of Plenty, knowing that their turn must come, and even if it does not. there will, he a steady market for the Gisborne grain here over the next six months, with more' coining in from overseas to bear the market further. Nominally the market is unchanged at 5s 3d, Gisborne. The Auckland Herald reports: Very fair shipments have arrived from Gisborne and the Bay of Plenty, and the price ex store remains at 5s Gd. Larger quantities, however, continue to come by rail direct, and lately some parcels have been consigned from the Bay of Plenty by rail as far as Wliaiigarei. This is greatly restricting the city trade.'