COMMERCIAL.

New Zealand Herald, Volume XLIX, Issue 14912, 10 February 1912, Page 5

COMMERCIAL.

LONDON MARKET. REPORTS. -• ' • i ■';■>> '■-] MONEY AND PRODUCE RATES. :.f.V'i;!:i;;|jj':;i;.;:''. " ~ . ■ ■■■ .... By Telegraph.— Association.— (Eeceivcd February 9, 8.50 p.m.) '■'A''§i\s'{si' : ,■ ' V Loroojf, February 9. ..■■..' BANK OF ENGLAND KETUBKS. if The following are the Bank of England returns for the week :—Coin, £37,692,000; reserve. £29,403,000 proportion of re- ""* serve to liabilities, 52.94; notes in circulation, £27,939.000; public deposits, • £18,224,000; other deposits, £37,304,000; Government securities, £14,870,000; other . . •' aecurities, £29,328,000. MONEY MARKET. ' Bank rato, 5J per cent. Short loans, 3£ per cent. Three months' bills, 3 5-16 per cent. Paris rate, 3 per cent. Berlin rate, 3J per cent. .ISA .r : .' ..;. 1 ' •■ J ', CONSOLS AND COLONIAL STOCKS. .* Consols (quoted last week at £77 10s), .. £78 ss. New South Wales 3* per cents., £98. 1 V. Other stocks are unchanged. I TRICES OF METALS. ■ ' ' ' Copper : On spot, £62 8s 9d; at throe months, £63 2s 6d: electrolytic, £65 10s. - Tin: On spot, £196; at three months, .' ,'. £192 15s. , *'~. Iron, 495. •'■v' Lead, £15 13s 9d. Spelter, £26 7s 6d. >• ... WOOL. The Bradford wool market is quiet, and m business is extremely limited. Merinos ",' are unchanged. Fifty-sixes, 21d; fifties, .', 18d; forty-sixes, 14id". ,'/ ■' ''.■■•■..■■ SUGAR. | *' : '.'' [<t :t , German beet, 15s 5d ; first marks, 18s. it!":';.s■" ; T '.' ■''.■! ' ' -"'' Messrs. .Dalgefcy and Co., Limited, are ' in receipt of the following cable from their * Itad office under date February 8, 1912: , v —Butter : Market firm, but quiet. The Vital imports into the'. United' Kingdom for the week ending Saturday last were «58,O0Ocwt, as compared with 91,000cwt for the corresponding period last year. The Copenhagen quotation is unchanged. New , Zealand nutter, 1325; Danish, 1365; Australian salted, 130s. Under date of I February 7 :—Cheese : Quiet, at 725. Messrs. Dalgetv and Co., Limited are is receipt of the following cable from their London office under date of February * 9 :—Frozen meat : Position mora favour- , able. . . — — in : . VICTORIAN PRODUCE MARKET. Melbourne, February 9. " Wheat, 3s lOd; flour, £8 10s; bran, £5 ' * . 15s; . pollard,' £6; oats. 3s 2d to 3s 3d; maize, 4s 6d; potatoes, £3 10s to £5; I onions, £9 to £9 ss. - "; - ' — ■ • , AUCKLAND FRUIT AND PRODUCE .I ' ' MARKET, ;

OVER-SUPPLY OF , FRUIT. ' A very large volume of all descriptions - ■ of summer fruit continues to pass through tJie markets and sales are made with' some ~ * difficulty. ~ Plums are exceptionally difficult to sell; Japanese varieties are ex- ",, • ceptionally low, and < a good many ; grow- . ers are not gathering their crops* in consequence. English varieties are lower in valuo this week than last. Peaches and - v nectarines are still very; plentiful, although sales ate made freely. Only the fog best grade Astrachan and Gravcnstein and : ■ pnmo'lj.cooking apples are commanding any attention, while other grades of medium .ami SfflaU we difficult-to move |;;| ott. lomatoes aio coining to hand in very large quantities and the price has con* * a ' ij -) , ai e increasing »« supply, with S™. c Hotho r pp»» on puntifnl. Cape are now on vl^TS 61 - , Wat « melons and pines Readied the market from Sydney on Mon- : » there was a poor demand for the former, while pines sold fairly we]].' The market for potatoes ha improved some"hatand the price has advanced. The •. market for onions is unsettled and values aiming. A good many are coming forward. All farmers' lines of butter and ■eggs have met with good tales. Poultry was penned in the usual quantitv, and prices were satisfactory.. ~, , HELD PRODUCE. i s*^ t^B^t ocal *, prinie tTp-to-Dates. 5s to beat £*}' ther9 ' 4a to "* ? d ; Onions: Local. Mat 8s to 8a 6d cwt. good 6s to 7s. — DAIRY PRODUCE. • B rimL tearmcr ''„ in Print*. 10id fo Hid: .'B!?? e tenners', bulk. lOid to lid-. Lees' Fresh. Is 2d to la 2jd dozen r egs ' ," FRUIT. - ■'• •V. A «sl Local - , coloured, extra superior £■ J* & case !. good 4 * to ss; cooking, best °s Wn, best /■ to to, good 6s 6d to 7*; others, > **&&&& *U JL l lun } English varieties S,*°2»M box; Bpbanks. best Is to Is 6d ' ff°? 8^ others 6d to 7d box; Ogon '" .«rt 9 li box, Peaclleß: Coloured, best des- ' £8. S^. 1 ?, s *. Rood 33 to 3s 6d. others 2a j vSf Apricots. 5a to 6s 6d. Grapes: Hot- - $£ o P'&Jt' to 9& lb. Tomatoes: Outdoor, best j , 2d to aid, good lid to lid. Nectarines: Best. •3s 9d~to 4s 3d; good, 2s 6d to 3s 6d. Lemons: Local,, prime, 8b to 10s case; local, rough 1 and coarse, 4s 6d to 6*. Cape gooseberries , 3d to 4d lb. Passion-fruit, 3s 6d to 4a box; *-•.- watermelons, la 6d to 2s 3d each. Walnuts, 7M lb. Peanuts. 2Jd lb. Bananas: Re- . packed, 21d lb. Pines, 12s crate. Cocoanut*. 10* to 12» sack.

-§'%':/7 : U;.:. '- : '■ POULTRY. . Hens: Best, 2a to 2s 6d each; good, la 6d ; toll 9d. Table roosters: Extra heavy, 3« Li „j<> 4i each; good. 2s to 2s 6d; light. Is to Is 63. ' Ducks, la 8d to 2a 2d each- Chicks. 3d to Is «wh. Turkeys: Gobblers. 4s to 12s 6d each; hens, 4s to &s. Ji|'V;V;i:; ■,:■' KAURI gum: '/'" .[' ( . ITS VALUE 'IN VARNISHES. ,Th» High Commissioner has forwarded to , tao Minister for Commerce the result of his ,' '• forestifjatlons into tlio uses for which kauri i trem is utilised, and encloses opinion? of exr s •parts in tho manufacture of varnish. He . I ;• Mates that in the cheaper kind of varnishes ■ ', a • mixture of Chinese wood oil and Soya , man oil i? made with common rosin, and i.y| ';■; these varnishes are allowing manufacturers &•*?£, to use cheap or refractory {rums in their ,'. , - preparation bat adds that it is universally admitted that kauri gum is the easiest v*. .;, worked resin on the market, and that the ■ .- results obtained from its use are the best. <w. Tho position is. however, that unless the :■«,.. prices of kauri gum are very considerably ■*>:'•'■.. 4 reduced it is not likely that the competition iistC of inferior resins will be withdrawn, especially as linseed oil and turpentine have reached such extraordinary figures. Messrs. '■i. . 'J: B. Walker and Co.. of London, who Pre ! f ; acting as agents for a Dutch firm of oil h; boilers, have discovered a way of handling •j «drft bean oil. and claim that the product p. is euna.l to the finest boiled linseed oil in }*~ •PMijflQ gravity, odour, colour, and drying </>, qualities, is suitable for any purpose f(r 8m "which boiled lineeed is used, and is. more* ',\,~ over, much cheaper. It is also claimed that •"; by the same process .practically any oil— ,', ' • vegetable, fish, or animal— bo used by i'iP,! • varnish and paint manufacturers. : .'he re[s'• . »ln» used in the new class of oil are Manila *«£','' and Pontianak cotals, which range in price ■;-.., 'rom £30 to £70 per ton, and are equal in y farfineai and colour to the best New Zea'i '■ , laud amide. It therefore appears that the only obfec- -" wan to kauri gum is its high price, which renders it almost prohibitive to varnish ' "rP&facturcrs. In the higher grades of var- ■',;,} ,'"2 i'« " cannot bo dispensed with, but npWMmfC r| .absolutely unable to compete with IRgJP inferior varnishes which are largely | coming into general use. '~ A ~. >>>" CHRISTCHURCH GRAIN MARKET. Ml". . [M TELJEOHAPH.— ASSOCIATION.] fipi ,: '"- ;i, ' : ' ' ' •' CaaiSTCHCUcn, Friday. The break in the weather is most unfortunate at the present time when the harvest ™ a fJust getting into full swing. Bain, "inch set in on Thursday afternoon, and .-continued till tho next morning, appears to VLfm-Wo been general, and was sufficiently *b l neavy to necessitate several windy days to 'If''B? ' 10 stooks.* Good progress has every. 'Acre been made with the cutting of oats, .r.*?* l 5 lw -* considerable area of wheat is now mmi*tf*i} ! There has been very little threshing - :J* wheat done yet, but several sales have r wen made during the week at 3s 3d to mmWt& *' country stations. . , f .iWw not coming in very rapidly, and ' Wf demand for them is fairly keen. Soma «fc|SJpp»nt». are being made to Australia. 9^MSSwHJ*.th»,'demand from that quarter is • U^SS^hat-uncertain at present. The.sales 1 1J' from ■la lOd to 2s at country stations. Brtm« samples baxlev is selling at 4« w *» «<J; «UKI isp to 4» 6d for extra prjmo Krh&t uncertain at present. The . sales from Is lod to 2s at country stations, {rime samples barley is selling at 4e id, ftad tip to 4a 6d for extra prime "f-- :^!^Viiii'i.ji'li'i, i'ii*i*iiiiiiii umiiititmimuimumtamimimtimmMakmmiMMitaMti

'■ . ~,n :■ , 'V ' , ; _ iimiiiii i ill m . i I ill" samples,, and there Is also a demand for prime barley of last season's:growth. There ia a fairly large quantity of rye* *£**£ ??. u, F« hot merchants complain that the bulk of the seed is verv light, and prime samples scarce. Sales are being made at Is 8d to Is M for light, and up to 2$ and « c « lor Brims heavy samples. &ome cocksfoot grown on the plains has been., sold, mostly <in small lots, and for thw it is reported that Ad to 41d has been paid. ■;■■; \ •:... , .... * . SALES OF PROPERTY. Messrs. T. Mandeno Jackson will sell the unsold sections in the Mainston Estate, at the car terminus. Bemuera. on the ground, py nubile auction, at half-past two o'clock to-day. Terms, 10 per cent, cash, 10 per cent in three months. 13J per cent, in 12 months, balance in four years at 5 per cent. ■Mr. Louis Lewis reports having sold by auction yesterday a prope§y in c own-street, Devonport, having a frontage pi eeft Bin, for £565. Four auarter-acre sections on the Onepoto Estate did not reach the reserve. A nine-roomed residence on a section with a frontage of 66ft to Manukau Koad and a depth of 100 ft. was sold by Mr. J. Thornes yesterday for £700. The property belonged to the estate of the late Mr. John Mowbray.