COMMERCIAL.

Hawera Star, Volume XLVIII, 25 June 1924, Page 8

COMMERCIAL.

FOREIGN EXCHANGES. BY CABLE—PRESS ASSOCIATION—COPYRIG [IT LONDON, June 23. The following rates on foreign exchanges are current- to-day, as compared with par: —Brussels (franc) (par 25.225); Baris (franc). 50.62 (25.223); Stockholm (kroner). 16.30 (15.159) ; C hristkinia (kroner). 32.13 (18.159) ; Copenhagen (kroner), 25.63 (18.159); Borne (lire), 100 g (25.225); Calcutta, 1/5 (2/-) ; Yokohama, 1 / !();* (2/OA); Hongkong, g / 4;- (-/-); New York (dollars), 4.33 (4.866) ; Montreal (dollar). 4.394 (4.866). The mark is quoted' from Berlin at .161 billions to the sterling, compared with IS billions on June 12. CANTERBURY MARKETS. (BY TELEGRAPH PRESS ASSOCIATION. - ) CHRISTCHURCH, June 22. The potato market has firmed up. It is understood that a Victorian consignment of* from 300 to 500 tons is due within a week, but the market has .firmed in Melbourne, and this, no doubt, i,s directing northern .attention to .Christchurch for supplies. Another point is that the season is getting on in Victoria, and importers are probably a little chary of making heavy commitments on account of the risk in quality. Sales have taken place in Christchurch at from £6 to £6 ox f.o.b. sacks in. Farmers show no inoli Ration to sell on trucks at £5, and very little at os over. The fields are- varied, but generally it is considered they are lower. However, the area is smaller this season and the strength of the position taken up by the growers depends on whether the reduction in yield will be offset by the importations. The vessels leaving for Auckland at the end of last week took 1700 sacks for Auckland.

Oats have eased further. There are a few coming on the market, and lines have been .accumulating in the store. These are now coming into circulation, and Canadian fats are also influencin'* lower values. It- was only the insistence of buyers for the production pf the actual oats that sent tire market skywards. Forward oats are quoted at os 2d f.o-.b. sacks in, or from 4s lOd to 4s lid on trucks. Chaff is firm at about £7 to £7 5s to farmers. The demand for white clover has improved inquiry having set in from the Old Country. Other seeds are urn altered. Generally the market is very dull for all produces. LONDON REPORTS. ihe New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house under date vijih instant:— New Zealand Frozen Meat.—No alterations. Last quotations May l) 3 1924: Lamb ldfjcl per lb (average)! Mutton, wether and maiden ewe, liohi < ;l fd per lb heavy 6id per lb; ewe, t>gd, heavy c|;d. New Zealand Dairy Produce.—Butter choicest salted 178 s to 180 s ner Cwlmaiket firm. Cheese, 88s to 92s per cwt; market quiet. CRETCHINGS SALE.

ihe New Zealand Loan and Mercantile Agency Company, Limited. Wellington, report: The first crutehings saie of the season took place on Friday, when the combined brokers offered about 2/00 bales, consisting mainlv of crutehings, stragglers’ fleece, skirtlims and oddments, together with, a few bacb-equntry clips. There was a iepresentative attendance of buyers, including many overseas operators. Bidding was not spirited, but prices obtained for crutehings established a record lor Wellington. Fleece wool was in good demand, but the hulk on offer was of .secondary quality, . :m d prices consequently not on a level with -April rates. Bellies, pieces and locks sold well at late prices. With, the exception of three hales, we cleared the whole of our catalogue. The official range of prices is as followsHalfbred, 21d to 2tJ.kl; merino, 2-3 cl to 24.1 d * crossbred, line, 15d to 21-|d; crossbred! medium to coarse, 144(1 to 194 d ; pieces and belljes, 9(Uto- 16d ; locks and stained pieces, id to 10Ad* crutehings, superior 154 d to 17R1, medium to good -12 d to 15;|d, seedy and inferior 6fd to BUdlambs, 9RI to 22.1 d ; Head, lid to 2l)fd. Messrs Dalgetv and Company, Ltd. report: A.t Friday’s cnitching and oddment sale about 2800 bales were offered, our quota being 520, of which we sold 90 per cent. A full bench of buyers were in -attendance, all sections of the trade being interested, Japan, as usual, being the keenest and largest buyer of crutehings. Australian and local mill buyers were also keen competitors of light-conditioned and super lines of crutehings, and procured «. fair quantity. We sold first and at time of writing our best price secured for crossbred crutehings was 17d for two bales of light-conditioned from West Coast brand F\Y /4\ . So far prices ruling for crossbred crutehings are a record in the New Zealand trade, and lor maiiy years past we think‘that about 104 cl is the highest price recorded previously. Good sound competition was also forthcoming for all good classes of fleece lambs and scouring wools, France being buyers of the best pieces and lambs, with local scourers bidding Ireely on all scouring wools. Bradford were in the market for crossbred fleece, and took a fair quantity of all that was offering. The sale, as far as it lias gone, is most satisfactory, and the growers who have crnjjffliings would be' wise to take advantage of an early opportunity of marketing. Naturally at this time of the year the quantity oi fleece wool is small, hut good prices have so far been obtained for all lots submitted at auction. We had a few small parcels of merino and halfbred fleece, hut competition for these wools was not animated, and rates hid were hardly up to hi arch sale prices. Crossbred fleece, when quality and condition are considered, sold 'remarkably well, and prices made to-day must be on a close parity with March sale rates.