COMMERCIAL.

New Zealand Herald, Volume LVII, Issue 17471, 15 May 1920, Page 5

COMMERCIAL.

LONDON MARKETS. * MONEY AND PRODUCE RATES. Australian and N.Z. Caulo Association. 1 (Heed. 8.20 p.».) ,i ." LONDON. May 15. Tho Bank of England returns fort the week ended May IS, as compared with those for the week ended May 6, at© as follows:— May 13. May 6. Coin .. .. £111,982,000 £111,588,000 Reserve .. .. 19,656.000 -19,815,000 Note Issue .. 111,513,000 101,116,000 Govt, deposits .. 51.4C9.000 20,650,000 Other deposits .. 99,404,000 116,516,000 Govt, securities .. 58.455.000 55,310,000 Other securities .. 80,444.000 79,690,000 Proportion of reserve - »•■ ' - to liabilities .. 16.27 14.47 KATES OF DISCOUNT. Short loans. 51 per cent, as against 5} per cent, last week; three. months bills, 61 per cent., as against 6} last week. FOREIGN EXCHANGES. The .- following rates on foreign exchanges are current to-day, as compared with the cabled Quotations on May 6, and the rates ruling on July 5. 1914;—• 1914. May 13, May 6. July 5. Paris ... .. 58fr 63.30 24.14) Stockholm* .. 18krl3ore 18.15 18.241 Christiana .. 20kr60oro 20.23 18.241 Calcutta .. 2s2id 2ssJd ls4d Montreal .. 4d013|0 4.24 4.871 New York .. Bd.ol 621 c 3.851 4.87J CONSOLS AND COLONIAL STOCK. ' The following table gives quotations for consols and colonial inscribed stocks, com' pared with those of May 6.— Price. Variation. £ s d ad Consols, 21 per cent. .. 48 15 O 15 0} British 51 p.c. War Loon 82 0 0 80 0} British 6 p.O War Loan 85 6 0 25 Ot New Zealand 4 p.C, 1929.. 80 6 0 6 0+ New Zealand 31 p.c. 1940 68 0 0 Baffle. New Zealand 3 p.c, 1945.. 67 5 0 Same. Com'wealth El p.c, 1920-22 95. 5 0 Same. Com'wealth 51 p.c, 1922-47 92 17 6 Same. West Aust. 31 p.c. 1920-35 70 5 O 6 Ot West Aust. p.c. 1916-35 68 0 0 10 0* N.S.W. 4 p.c, 1933 .. 76 0 0 M N.9.W. 3} p.c, 1935-50 .. 62 15 0 5 Or N.S.W. 3 p.c., 1935 .. 6910 0 SO* South Aust 31 p.c, 1930 67. 0 0 10 Ot South Aust. 3 p.c op. 49 10 0 game. Tasmanian3}p.c, 1920-60 M 0 0 • Same. Tasmanlan 3 p.c, -IMO-40 61 0 0, 20 0* Queensland 4 p.c, 1921 .. 87 15 0 . Same. Queensland 31 p.c, 1921-50 84 0 0 Same. Queensland 81 p.c, 1921-50 94 0 O Sam*. Queensland 3 p.c, 1920.47 55 0 0 . '2 6* Victorian 4 p.c, 1924 .. 99 2 6 * 12 6t Victorian 3} p.c. 1921-28 82 0 0 Same. Victorian 31 p.c, 1920-49 59 10 0 10 Ct Victorian 3 p.c, 1929-40 65 10 0 2 «* ~ IHigher. »Lower.- , BUTTER.' l Owing to plentiful supplies of Some butter, tho multiple shop companies are retailing it at 2s lOd per lb; consequently many retailers arc refusing allotments of Government butter, wlich is mostly blended and inferior to the home-made article. The trade anticipates an early reduction in the Government retail price, probably to 2s 9d. < ' CEREALS. Wheat is quiet, Small galea of Australian have been, landed at 103s lid. ex ship 102s. Flour is showing a steady demand, and a fair quantity has been allocated. Oats are firm; La Plata, Spot, 59s 3d. Beans are quiet and unchanged. Peas are steady; Tasmanian, 26a cwt. • .- ' '■•'•' WOOL MARKETS. The Liverpool wool sales attracted a moderate attendance, and there was fair competition for good greasy.combing merinos. Continental buyers were operating freely in faulty merinos and fine crossbreds. Prices for fine crossbred* and best gwasy merinos wore on » par with the London --{losing rate*. Medium greasy merinos declined 5 per cent., scoured* 6 to 10 per cent., aid line and medium greasy crossbreds 6 to 71. All low sorts were withdrawn. Secured slipes were irregular, with heavy withdrawals of low qualities The Bradford market is quie*. and more settled. Sixty-fours are quoted at 12s, fifty'aixes 7a 6d, fifties 5a Bd, and forty-sixes 3s sd. LONDON* WOOL MARKET. \ The produoe department, of the Bank of New Zesltnd has received the following cabled advice from its London branch under date May 7:— : . • '_ • " Wool 'market lit easier. Compared with the opening. of this series fine crossbreds show a decline of about 5 per cent. Medium and coarse crossbreda snow a decline of from 5 to 10 per cent. AUSTRALIAN PRODUCE. A. and N.Z. MELBOURNE. May 14. Current quotations are as follows:— Barley: English, 7s 3d to 7a Sd: Cape, 6s 3d to 6s 6d. Oats: Algerian, 5a lOd to 6s. Potatoes. £19 to £12 lbs. Onions, £12 Is. Hides: Top grades, unchanged; medium and lower, Id to id decline. PROPERTY'; SALES ; V Richard Arthur, Limited, * report having sold the folioff-ng properties:—Two lections, Ladies' Mil*. Xiesvuera, £300 each; cottage section. Green Bay, £350, and three sections in tho' same estate, £90, £100, £140 each; city property off Union Street. £2000. A number of properties wero offered for sab yesterday by Mr. C. 1?. Bennett, but only two sales were effected. The -highest > bid for premises in Shortland Street, at present occupied by Messrs. Abel Dykes. I Leech. Dawson, and T. and G. Mutual Life, wan £14,250, and the property was not sold. Tho property in Hobson Street, known as Kelvin Private Hotel, was also offered, but the highest bid waa £4760. and the property wa 8 withdrawn. A five-roomed house. No. 19, Auburn Street. off Khybsr Pass, was sold for £505. and a section. 5 acres, 2 perches, at Avondale, was sold ! for £70 an acre. MARKET REPORTS. Messrs. A. B. Donald, limited, report as follows:— has been.-an, over heavy supply of apples, and, a fairly heavy supply of pears, and bo'.h lines have receded in values oonsidenibly. The continued wet weather has hac'l a steadying tendency on the sale of pear*, and the only fruit which has been in \tr.r keen demand is tomatoes and choice samples of grapes. Passions are I firmer, and lemons, which are in . short supply, are in keen demand. Values have eased since test ««ek, but prices will again advance. The supply of tomatoes is not near equal to the demand, while the same remarks apply to Sydney fruits. We received a consignment of pines by the Maheno. and they were the best, which we have ever seen. Orange are in fair demand. i The produce market hat. been considerably weakened by the arrive- of large supplies of southern produce, and' potatoes dropped from £14 to £9 per ton. while many lines are realising lower rates than the 'latter price. Onions are wanted, out there are .somany inferior lines about that the price for olioioe lines is easier. Kumaras and pumpkins, which were selling, freely last year at about this time, are slow of sale, and should make an advance before long. Fair supplies of citrons continue to arrive, and prices are slightly firmer. We advise immediate consignments of these. Water, melons are finished, and a successful season has bwsn the result, with prices never heard of before a total of over 11,000 passing through pur mart. . We quote values as Bananas, ripe, 18s 6d.to 254; lemons, local 25a to 28s. American 60s: oranges, 13s to 16s: passions, 7s to 8s; grapes, Is 4d to 2s 2d; pears, 9s 6d to 10» 6d; apples, delicious 10«. Jonathans 5a fid to 6s 6d, others 2s 6d to 8e; tomatoes 9s 6d to 13s, seconds 5s to 7s; persimmons. 6s to 7s 3d. Produce: Potatoes, best 9a to 10s, mclium 7s to 8s; onions 9s to 10*. picklers 'i to lid: kumaras, lid; pumpkins, 5s to Gs; vegetables at market rates. E. Turner and Sons, Limited, report that there is still an over supply of apples on the market, largely second-grade quality: this being largely the result that most of the first-class fruit being in cool store and also the fact that more apples are being grown this year thin the-local market can consume. The market for pears is also dull, but a rite- is anticipated owing to smaller quantities coming forward. • Tomatoes are coming down., good lines realising ' Terr satisfactory prices; same applies to hot. house grapes, there being a Keen demand for the very best black Column grapes. Considerable quantities of lemons are coming into the market, the prices being easier. although from 20s per case is being realised for choice lines; medium quality, 10s to 16s. bushel case. Island oranges are selling from 20s to 80s per case, repacked. Bananas are very scarce, there being no further supplies to come to. hand until tho arrival of the Navua at th« end of next week. Figs are practically finished for the season. There is a great demand for tree tomatoes and persimmons, . particularly, firat-c.ass quality fruit. Produce.—Cabbages, Is.2d to 3s lOd per dozen; lettuce. lOd to 2a It'-, parsnips. 10d to Is 3d; carrots, Is to Is 2d; celery, Is to Is 2d, 2s 4d to 2s 7d. 8s 'Id to 3s 6d: cucumbers, 8d to 4s 8d: cauliflowers, 2s 13d to 7s lOd; potatoes, first grade 9s to 10s Sd. second grade ii to 8s: pumpkins. 5s 3d to 6fi 9d per cwt; kumaras. ltd to 2d; squash, 9s 3d per cwt; onions, 6s. to 8S 9d Per cwt: swedes. 6s 8d per cwt? citrons, 3s to 6s per cwt; beans, 2d to Sid per lb. Dairy Produce.— Is 3\A to Is Sd per lb; eggs, 3s Id to 3s 8d; honey, 7d to 9d per lb. v , *«. «■-.-' n Poultry.— 2s lOd to 6s Gd:. roosters. sfl 6d to 8s; cockerels 3s to Bs, small Is 7d to 3s Id; ducks, 5s 6d to 7s sd. Mr. J. Jones,. auctioneer, on the corner, new city markets, reports sales for this week as follows:— < '" v V" ' ,'"' .. _ . We have very heavy penning of poultry, and values all round are much firmer. Boon heavy hens and prime roosters show an up- . ward tendency. The .advertised poultry sold under keen compeUtion-and satisfactory prioes. Ducks, in '■"jJ.WfijKrPigs, heavy supply, and ! tfp*?.««f \j*B& Potatoes tad onions mk&tA&l&Lnßß. , taßdoW. La—• i k ""* w "' t « afluwra am*. -; ■■■ " V ■•..'■■ >,'./%§? of'.'^r'-:t

————-*— -t | ■ --, -- ■ • »\i ■■-/■■;»--.:^-.V _, _____ toes now. arriving, and buyers" will pay' mack higher,. rates ' for , them than for locals Pumpkins market overstocked, anl'Sa 1 slow. Butler, eggs, and bacon selling well.<; : Fruit ; market - glutted, values low. -v We >,\ quote:— , -•■ -*.'.■". ... ■,-»•-.^.--—v." _« ■'■ Poultry.-Prime heavy ; hens 6s" 6d to 6s 9d, good, 5s to 5s 4d, ordinary 3s. to 4s- t young white Leghorn hens, iiofis'■■ld'---pullets, white, 4s 9d to 8a 6d; black or- L pington pullets, 6s .to lis 9d. Tho advertised birds .realised-)from ss; to ;8s 9d; prime ■-- roosters! 6s 6d : to 8s 9d. good 6s 3d to 6s small ; 2s, 6d to 3g 3d; ducks, young 6s to 7s 9d, others 6s to 5s 9d; drakes, -5s to 6s-' turkey' gobblers i lis 6d to 18s 9d. turkey bens 5s 9d to 9s 3d; geese, 7s 3d. Pigs.—Weaners, 15c 8d to £1 6s: store fl.Bs to £1 lit.SU •'•% ■ - " Produce.—Southern potatoes v £lo' Ids' to £12. local potatoes £8 to £8 10s; onions 9s to lis; pumpkins, £5 to £6 10s; Swedes. £4 to £4 10sj citron melons, £3; vegetables, cabbage, 5 3 to 6s sack. Dairy Produce.—Butter, Is id. to is 5Jd; eggs, 3s.Bd to 3s 4d; cheese. Is 2jd: hams. Is 7d: sides, Is s ld; honey, bulk. 6d to Is; lard, bulk, Is 31d; farmers' bacon, lg to Is Id. . ;■ Fruit.— dessert, choice, 6s tto 7s 9d; good, fs to 5s 6d; cookers. is Gd to 7g 2d: lemons. 17s 6d; passion fruit, 3s 6d to 4s 3d; pears, Vicars, 4s to 4a 6d; grapes, Is sd: tomatoes, 3s to 5s 3d. '- .-, Grain.—Maize. 9s 3d to lis; oats, 6s lOd: chaff, southern £15, local -M to .£ll a line of 650 sacks, slightly discoloured, sold at £9 10s; barley. 9n,6d; Algerian oats. 8s 6d. Bran,'sharps.. and wheat at current rates. t CANTERBURY PRODUCE MARKET. [Br T_,EGBAP&— ASsociAnoK.j CHRISTCHUBCH. Friday There has been a strong movement in oatg dunng the week. It is reported th.it business with South Africa has-- been dono through Australian. sources, and this unexpected market has given a stimulus to tho position. North Island merchants are now operating to cover forward business, and possibly the South African openinc has hastened their activities. Up to 5s lid f.0.b.. South Island, equal to 5s 2d at country stations, has been paid during the past few days, and generally, although the amount of business with farmers has seen small, the tone of the market is healthy. Wheat is continuing to come forward fairly freely, though lack of trucks is hampering its delivery.. Merchants say it is easily the worst year in this respect. Wheat is being held up all over the province for lack of trucks. There is a firmer tone in the white clover market. Leek of shipping is having, a disastrous effect on the potato market. Merchants are disinclined to operate until the stocks on hand are got away, and any initiative is coming from the growers themselves. Deals have taken place at £4 at country stations, but quite ft number at £3 15s, . and that about limits the merchants' offer ei present. The Eoromiko. which sailed fcr Auckland on Thursday, was compelled to shut out . from 30,t0 50 waggons of produce. & good proportion of which was potatoes. i>u account of insufficient labour. There would be a good margin, for North Island business on local quotations if shipping was available.