COMMERCIAL.

New Zealand Herald, Volume LX, Issue 18374, 14 April 1923, Page 7

COMMERCIAL.

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS. Australian and N.Z. Cable Association. (Reed. 8.5 p.m.) LONDON, April 12. The Bank of England returns for the week ended April 12, compared with those for the week ended April 5, are as follows: —

RATES OF DISCOUNT. Short loans. IS per cent., compared with If per cent, last week; three months' bills, 2t per cent., the same as last week. FOREIGN EXCHANGES. The following rates on foreign exchanges arc current to-day. compared with the cabled quotations on April 9 and par:

CONSOLS AND COLONIAL STOCKS. The following table jives quotations for consols and colonial inscribed stocks, compared with those of April 5: —

CEREALS. PULSE, AND SUGAR. Wheat.—The market for cargoes has not responded to the American advance or the more active freight position.. Continental demand is more subdued. Prices are unchanged. Parcels firmed by from 3d to 6d. Ne)w Zteala-nd MayJ-Juno* shipment are nominally 41s. Snot trade is fairly active and prices are firm. Australian has been landed at 555. Oats—Firm. A Gartona. spot. 36s to 375. Barley.—Steady. Australian Ohevialier, 43b to 489 New Zealand analting, 42s> to 465, nominal. Peas.—Slow. New Zealand Maples, snot, 95b to 100s; May shipment, 655: New Zealand Blues,, spot, 320s to 3405; Tasmanian, 360s to 380s. Beans.—Firm. New Zealand, spot. 49a to 51s. Sugar.—Granulated, 62s lOd. i BRADFORD WOOL MARKET. The Bradford wool market is quiet but firm. Quotations Sixty-fours, 63d; fifty-sixes. 36d: forty-sixes, lSld. 1 THE METAL MARKET Copper: Spot £73 Is 3d, three months £73 16s 3d. Lead: Spot £27 10a, three months £27 2s 6d. Spelter: Spot £34 15s, three months £35. Tin: Spot £217 2s 6d, three months £217 7s 6d. Silver: 31 15-16 d per oz. PRODUCE IN MELBOURNE. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) MELBOURNE, April 13. Barley: Firm. English 3s 9d to 4s 2d. Cape 3s 3d to 3s 31 d. Oats. 3s 9d to 3s lid. Potatoes, £10 to £10 10s. Onions, £3 la, MEAT BOARD QUOTATIONS. [BY TELEGRAPH.PRESS ASSOCIATION.] WELLINGTON, Friday. The New Zealand Meat Producers' Board advises that the following prices were being offered for meat for export on April 12, 1923:— Auckland—Wethers. 641b. and under, 51d; prime woolly lambs, 421b. and under, 81d. Poverty Bay.Wethers, 641b and under. Bid; prime and woolly lambs, 421b. and under, Bid; 431b. and over, 8d; second quality, 3d. Hawka's —Wethers, 641b. and under, 5Jd; prime woolly lambs, 421b and under, 9d: 431b. and over, 8ld; second quality. Sid.

—Wethers. 641b. and under, 51d; prime woolly lambs, 421b. and under, 9d; 431b. and over, 8d; second quality, 8d; prime ox beef, 20s per 1001b; heifer beef, 17s 6d; cow beef, 15s.

Wellington.— 641b. and under, 55 d; prime woolly lambs, 421b. and under, 9d; 431b. and over, 8d; second quality, Bd.

Canterbury—Pximo woolly lambs,-- 421b. and under, 91d.

Southland.— woolly lambs. 421b. and under, 9d: 431b and over, Bid; second ! quality. Sid. FROZEN MEAT MARKET, Messrs. Dalgety and Company, Limited, have received the following cable from their London office, under date April 12: — Frozen Meat.—New Zealand prime crossbred lamb: Canterbury, heavy, llld: light, lljd. North Island, heavy*. lOld; light, lid. Demand limited and prices weaker. New Zealand Prime Crossbred Mutton: Canterbury, heavy not quoted: light not quoted. North Island., heavy, 7id; light, B}. Demand poor and prices weaker. New Zealand Prime Ox Beef: hinds. 4id; fores, 3}d. Owing to extraordinarily low prices of South American chilled beef, at present no demand for quarters frozen beef whatever. The heavy supply and low value have had considerable effect on demand for other descriptions, and forward market is temporarily at a standstill. Good average quality crossbred Lamb: Australian, heavy, Bid; light, 9id. Demand for Australian lamb poor. Good average quality crossbred Mutton: Australian, heavy, s}d; light, 6d. Demand for Australian muuton limited. MARKET REPORT, / FRUIT AND PRODUCE. The Auckland fruit market was yesterday absolutely glutted with apples and pears, both of which lines are selling- very cheaply. In the produce market there was an abundance of soft onions, other lines being in ordinary supply. DAIRY PRODUCE. There was a fair supply of hen eggs, and the prices showed a little easement. They were sold at from 2s lOd to 3s lid a dozen. Other prices were: Duck eggs, 2s 7d to 2s 8d; pullets' eggs. 2s 6d to 2s 9d; farmers' butter, for which the demand was exceptionally keen. Is 4ld to Is lid, with an average price of is 6d a pound; and clover honey, 8d a pound. POULTRY. Young, light cockerels realised from Is Gd to 2s 6d; heavy, from 3s 6d to 5s 9d; old hens, from la 6d to 2e 6d; pullets, from 3s 3d to 5s 4d; old ducks, from 13 6d to 2s 6d: and heavy ducks, from 2s 6d to 3s 6d. ... , , , i FRUIT. J

The best grades of apples realised from 3a 6d to Bs. while pears sold at from 3s to 9s. Quinces and figs brought from Ss to ss, tomatoes from 2a to Bs, with Hutt Valley tomatoes selling at from 5s to 6s 9d per 241b. case; persimmons, from 3s 6d to 5a 6d; and tree tomatoes, from 3s 6d to 7s. Oranges, which were s<Jarce, fetched from 21s to 225, and bananas from 20a to 255, with poor qualities considerably lower. Lemons realised between 15s and 225. Te Kauwhata grapes ore getting scarcer, and sold at from lOs to 12s. Hothouse grapes, best qualities, fetched from Is 4d to Is 91d a pound, and poorer qualities from lid a pound. PRODUCE.

There was a fair supply of potatoes, which realised from 8s to 8a 6d per cwt. for the better grades. Best local potatoes fetched from 6s to 7s, there being very little sale for poorer qualities. Hard onions sold at from, 8s to 8s 6d. and soft from 2s to 4sCabbages fetched from 3s to 5s a sack, and cauliflowers from 3d to Is 5d each. The demand for water melons was poor, and they were sold at from Id to 9d each, while rock melons brought from 2d to 8d each. Pumpkins were sold at from 2s to 7a a cwt., marrows from 6d to Is a dozen, and cucumbers from 2s to 6s a dozen. There was an over-supply of celery, which, fetched from Is 6d to Is 10d_ a bundle for the best grades, other qualities realising between 6d and 9d. Other prices were: Beans, 2|d to 3*d a pound; peas, Sid to • 4}d a pound; kumaras, {d to lid a pound; lettuce. Is 6d to 2s 6d a case; citron melons, 2s 9d to 8s a cwt.: parsnips, carrots, and beet, 6d to 9d a dozen 1 and rhubarb, la 8d to 8* » dflMßh

MELBOURNE HIDE SALES. V .. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.). : MELBOURNE, April 13. The hide market is firm, and values all round are equal to the best rates prior to the holidays. CANTERBURY MARKETS. , [BY TELEGRAPH.—PRESS ASSOCIATION.] CHRISTCHURCH, Friday. The announcement made during the week that the wheat arrangement would be ratified, or rather that the Government would not interfere in the arrangement, has given a certain amount of relief to farmers and the trade. _ However, the extent of the relief is limited as far as farmers are concerned, as millers have now good supplies on hand, and there in no haste on their Part to increase stocks. Millers so far are not paying the difference between the ordinary prices and those* arranged, but it is expected that this position may end at any tune. Fowl feed is quoted at 4s 3M '■° 0. lhe ratification of the agreement fli regard to nulling wheat prioes has slightly tinned the market. However, there is sure, to be > a big Proportion of undergrade wheat and . already growers are complaining at the rigidity of the grading standard established at lyttelton, which, it is asserted, is much severer than that set by local mills. The oat market shows no alteration from last week. Gartons are quoted at 2s 8d to a B ,, d >,. country . stations. In absence of Australian business, the market is disposed to weaken. Chaff remains unaltered at £4 to A, 4 10a at country stations. The white clover market is easier, and sales are very difficult to effect. The price ot .Uaniah cocksfoot has improved at Home oy 58 per cwt., but this is not enough to exert any improvement in the price of local seed. The cocksfoot market* may be described as "sick." Quotations of American red clover are coming to hand at lid per lb. cut., equal to about Sd at countrv stations in Canterbury. The foreign seed is of good quality. Partridge peas have, shown a movement, due to forward sellers coming on the market to . fill April boats. Up to 6s 9d fo.b.s.i. has been ' paid, or the equivalent at country stations of from ob 6d to 5s 9d. There is very little movement in grass'seeds, which are quoted at from-> 4s bd to as to farmers. American information daring the week states that .Danish red fescue 13 offering freely at a price that limits Southland values to 8d a lb to growers Crested dogetail is another «m,J and <' Product *& B has loat its old-time remunerativeness. Sales have been made f,,-,H^I= sa 5 d i seed $ hat make the value of undressed at country stations about 4d per i;„, ; Tm cause of th ? easing is that proSis rLf haß »croased much more rapidly tive £&$? ° two than the c °™™*- we T ek e H»« at ?„ l,ositi( J hfta firmed during the 7hl , North to , a 7 lld . rush of orders from einJ■ and also to the results of digcS°n,M?T up to expectations. Mer*a in l uot »tionß cover a range of from J^teft 3 '° £ $ r 17 5 6d > Kltoa leaved fa?J }£*■ 0n M pnday for Auckland with a thT^T andwm be followed later in the week by another boat. WAIKATO STOCK SALES. The Farmers' . Co-operative Auctioneering if., Ltd., Hamilton, report:—At Claudelands sale on Thursday April 12 fewer sheep m^ f rmed & a V* "»«* Bale*. Fat 13s ?o^°J ° m 298 ,^, store lambs, Wf ° 15a ,d; poox lambs, 9s 6d. The beef pens were well filled, mainly lishtSSPtttftt Mil,J , in fini *£ Although in rt. he i hammer a few were Passed early ?>*■ ye everything changed hands before the conclusion, a the best steers makers™ Vi - 73 ** 0^ 6 10a: ,«ood forward steers, £4 15a to £5 ss; fat cows and cows'V^ 10 ? *%*i 1? 1 Mi other 0 killable Tf' M 1 ? S to £3 s a: boners and canners, to % in. 128: A*-? 3iyear a * eerB > £ - 16» to £8 19s; cal heifers, £2 tJ £3 3s (for Jersey and Jersey cross); steer calves 17s to £2 2s- For a larger entry of Dies than usual, good values ruled, every pig being to £3 fin, Piss &° «? ld W «U. teeners slips, 16 3 3 to d 2ls POrker3> £l 13a to £2 153 '< PROPERTY SALES. Messrs..SamuelVaile and Sons, Ltd., report having sold ,by auction {yesterday a property of sac. lro. 18po., with house 10 room* on Great South Road, near the Harp £l,™ np ' for £ ¥°° ; aLso !, a house of 6,' rooms m Jason Avenue, Edendale. for £933. B e i,^v. pcrtleß >»: Albert st *«t did not reach the reserves!, and the property in rut fatreet was withdrawn from sale. ~A 3 important sale of dairying land, subdivided into 34 farms, at Bulls, near Marn, i > ! 1 V take place at Bulla on May 9. J. he total area of the block is 3300 acres, and the sections range in size from 15 acres to 461 acres. Messrs. Levin and Co., Ltd.. and Abraham and Williams. Ltd., are joint auctioneers for the property. SALE OF CLYDESDALES. c An important sale of Clydesdale horses from Thompson's famed Wai-rongoa stud is .advertised to. be hold in Dunedin on Friday next, by Wright, Stephenson and Co., Limited, i>nd the Otßeo Farmers' Co-operative Association, Limited, when a select draft will be submitted to auction. The draft includes a choice number of line-bred mares, fillies and two-year-old entire colts, and a parcel of educated workers of both sexes by imported , pedigree registered sires. A feature of the' sale is that 40 guarantees will be given. Full particulars are contained in a. special advertisement appearing in another column.

April 12. April 5. £ £ Coin .. k . 125,683,000 125,683,000 Reserve . ■ >. 24,356,000 23,156,000 Note issue . . ,. 122,911,000 121,096,000 Govt, deposits - • 16.118.000 22,612,000 Other deposits .. 107,872,000 101,497,000 Govt, securities . . 48,444,000 48,594,000 Other securities . . 68,884,000 73,015,000 Proportion of reserve to liabilities . . 19.64 18.-2

New York .. 4dol 6ojc 4.65J 4.866 Montreal . .. 4dol 75ic 4.75£ 4.866 Paris .. .. 69fr 80c 69.15 25.225 Home «. . . <33»lira 92i 25.225 Berlin . . fl8,500m 07,500 20.43 Stockholm k . 171tr 49oro 17.56 18.159 Chriatiania . . 25kr 94or© 95.90 18.159 Copenhagen . . i>4kr 66ore 24.50 18.159 Calcutta .. Ls 4i ,S la 4id 12b Hontfkons . . 2s 3Jd 23 Sid — Yokohama . . 2s 1 l-16d 2s Id 2a Old

Price. Variation- £ a. <L b. d. Consols, 2J per cent. . . 59 5 0 • 6 Ot British 3i p.c. war loan 95 10 0 — British 5 p.c. war loan - . 102 17 6 12 6t •New Zealand 4 p.c., 1929 94 12 6 5 Ot New Zealand, 34 p.c., 1910 84 10 0 10 0+ New Zealand 3 p.c., 1945 76 2 6 22 6t New Zealand, 6 p.c., 1336-51 100 5 0 5 Ot Com'wealth oi p.c., 1922-37 102 0 0 2 8+ Com'wealth 6 p.c.. 1931-41 105 10 0 — N.SW.. 4 p.c., 1933 .. 92 0 0 — N.S.W., 3 p.c.j 1935 ., 80 17 6 — N.S.W., 34 p.c., 1930-50 76 5 0 - — N.S.W.. 6} p.c., 1922-32 100 5 0 Same N.S.W., 64 p.c., 1930-40 107 17 6 — N.S.W., 6 p.c., 1930-40 103 12 6 2 64 Victorian, 34 p.c., 1921-26 97 7 ' ft — Victorian. 3 p.c., 1929-40 73 10 0 30 Ot Victorian, 34 p.c., 1929-49 79 5 0 5 Ot Victorian, 54 p.c., 1930-40 102 5 0 — Queensland, 4 p.c., 1924 93 10 0 Same Queensland, 34 p.c., 1921-30 98 0 0 — Queensland, 34 p.c., 1921-24. 90 7 6 — Queensland, 3 p.c., 1922-47 69 10 0 — Queensland. 6 p.c., 1930-40 105 5 0 — S. Aufst.. 3* p.c., 1939 . 85 15 0 47 6t S. Aust., 34 p.c., optional 61 0 0 — S. Aust.. 6i p.c.. 1930-40 108 0 0 — Tasmanian, 34 p.c., 1920-40 84 15 0 15 Ot Tasmanian, 3 p.c., 1920-40 77 15 0 — Tasmanian, 6£ p.c., 1930-40 107 13 6 — W. Aust., 3} p.c., 1920-35 85 12 6 2 6t IV. Aust., 3 V.c., 1915-35 80 10 0 30 0t W. Aust.. 6 p-c., 1930-40 105 15 0 7 6t + Higher. — Not cabled last week.