COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 18943, 14 February 1925, Page 7

COMMERCIAL.

THE LONDON MARKETS. BANK OF ENGLAND RETURNS, Australian and 35T.55. Cable Association." (Reed. 10.5 p.m.) LONDON. Fob. 12. The Bank of England returns for the week onded February 12, as compared with those jor the week ended February 5, are as iol-

SHORT LOANS AND BILLS. Short loans, 22 per cent., same as last >veok; three months' bills, 32 per cent., same us last week. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on February 9, and par:—

CONSOLS AND COLONIAL STOCKS. The following table gives quotations for ••onsols and colonial inscribed stocks, compared with those of February s:

BRADFORD TOPS. On the Bradford tops market. Merinos are weaker. Croasbreds are unchanged. Sixty-fours are quoted at 69d; sixties at 62d; forty-sizes at 47id; fifties at 39d; forty-sixes at 32d; forties at 31d. LEAD TRADING RETURNS. Lead imports during January totalled 21,G53 tons, and exports 1889 tons. THE METAL MARKETS. (Quotations on February 9 in parentheses.) Copper.—Spot, i!GS la 3d (£65 6s 3d); three months, £66 Is 3d (£'66 6s 3d). Lead,—Spot, £3B 15« (£3B ss); three months, £37 17s Gd (£37 7s 6d). Spelter.—Spot. £3G 10s (£36 15s); three nonths, £36 (£36 6s 3d). Tin.—Spot, £264 (£261 12s 6d); three -nonths, £267 3s 9d (£26-1 17s 6d). Silver.-—Standard, 32Jd (32} d): fine, 54 11-16 d (34 13-16 d) per oz. Gold.—B6s 8d (87s Id) per oz. WHEAT, FLOUR AND PULSE. Wheat.—Cargoes opened lower on the collapse shown in closing advices from Winnipeg and Chicago, but closed steadier owing to Russian buying. Parcels are quiet. from 6d to 9d easier. Liverpool futures—March, 14s 2d; May, 13s Bid; July, 13s 4i. March tonnage receded 50a. Jho spot trade is slow, with an easier tendency. Flour.—Quiet. Australian, ex-store, 53s to 545. Oata.—Quietly steady. Peas and beans. —Dull. Sugar.—Prices unchanged. FLOUR IN AUSTRALIA. Australian and N.Z. Cable Association. (Reed. 12.5 a.m.) SYDNEY. Feb. 13 The wholesale price of flour has reduced 5s to £l6 5s per ton. CANTERBURY MARKETS. [BY TELEGRAPH. —PRESS ASSOCIATION.] CHRISTCHUCH. Friday. The excitement of last week in the wheat market has subsided to some extent. Millers' prices of 7s 3d. 7s 5d and 7s 7d, f.0.b., sacks extra, for Tuscan. Hunters and Pearl respectively, are meeting with fairly free acceptance, though numerous instances of this price being exceeded aro mentioned. Yields are turning out in most cases surprisingly high. One merchant who is an extensivo purchaser has had only one yield mentioned lo him as low as 35 bushela an acre. Numerous 40's, 43's and 48' a. and on occasions 55's, are continuing to come forward. The bettor yields havo no bearing on the matter of values. Importations will still be necessary, but to a smaller extent than previously estimated, Th* final return for the Dominion will probably bs much nearer 6 OOtT.OOO bushela than 5,000,000. In sympathy with tho week's movement fowl wheat is easier by 2d a bushel, and is now Quoted at 7s 4d„ f.ob B "white oats, which humped up suddenly early in the week, have steadied. 3s 3d on trucks being offered to fanners for B'b. This is for the prompt market. Dun. oata aro in good demand at 3s 6d on truck* for good dark heavy sample. For good chaff up to £3 15s on trucks is available for prompt delivery and £3 12a for forward. , . <j. • Potatoes have shown a shade of firming during the week, and up to £6 f.o.b. sack® in, is being quoted for main crop, or from £4 to Xd 25 6d on trucks. Crops generally are looking well, although minor blight ia reported in some districts. Ryegrass has advanced to tho extent of I'd a bushel during tho week for standard Bin d, and several sales havo taken placo at 3s 6d to 3a 9d to farmers for good lines. Italian and Western Wolths are offering heavily and aro quoted at 2s 9d to 3s on truckfl. Tho cocksfoot crop is very email and the seed is dirty. Growers show no inclination to accept the current offers of 9d a, lb. Partridge pease arc weaker. English uuotations aro scarcely equal to J?s on trucks here, and aa this figure is below growers' quotations little business is being'done. The linseed acreage is understood to be very much reduced this year. In 1923-24 tho area was 12,119 acres, of which 11.877 were in Canterbury. This year it is reported that tho acreage ia reduced by half. Local offers havo advanced to £lB 10s a ton on trucks, PROPERTY SALES. Mr. C. F. Bennett yesterday offered at auction the property. "Erlstone," nt the corner of Manukau Road and Corbett-Scott Avenue, Epsom. Tho property, which was nffered aa a whole and then in subdivided lots, failed to reach the reserve. A freehold icction of over half an acre, together with a, four-roomed wooden cottage, in Grcmfell Road. Mount Eden, also failed to reach tho reserve. Samuel Vailo and Sons. Ltd., yesterday sold for £2205, under conduct of the Registrar of the Supreme Court, a sheep and rattle farm of 559 acres near Rangiriri, oil the Pukekawa-Rangiriri Road. J. H. Ansel! and Co. yesterday offered at -tiction a. freehold section, 70ft by 174 ft., fronting Peveril Crescent, Manurewa. The Mection railed to reach the reserve. FEILDING STOCK SALE. [B'jT TELEGRAPH. —PRESS ASSOCIATION.] FEILDING, Friday. A largo entry of breeding ewes and lambs totalling over 6000 was submitted to a large attendance at the Feilding Stock Sale today. The demand for ewes was rather slack, except for best quality, tho bulk of the offerma being not the best. Buyers appeared to be inclined to wait for tho annual ewe fair on Friday next. There was a good demand for best rape lambs and all good white-face lambs, but inferior lambs were riot, sought. Fat sheep sold at late rates. Fat owes. 28« Id to 31s Od; fat lambs, 24s to 30s; fat black-faced two-tooths, 31s 3d; beat white-faced .lambs, '23 a Id to 26s 4d (extra. good); medium white-faced lambs, 17s 8d t« 22s 9d; cull lambs, 14s to 15s 2d; seedy lambs, 17s 4d; best black-faced lambs, 23s to 25s 2d: medium lambs. 2la to 22s 9ti; best four and five-year breeding ewes, 32s to 345; medium, 21s to 30a; two and four-toethed ewes (extra good), 40s 6d; twotoothed ewes, 27s to 335; two-toothed wethers, medium, 31s 4d to 325, There was a small entry of cattle and prices ehoived a fall in fat stock, which wa» of second quality. Store cattle sold readily at late prices.

MARKET REPORTS. FRUIT AND PRODUCE. There wan 'a glut of second grade apples at the Auckland City Markets yesterday which aft'eoted the price of the better grades. Late crops of tomatoes are coming forward and yesterday the fruit was cheap. _ 1 otatoea were in keen demand and high prices were realised for all good lines. Good prices were also paid for Kumaras. pumpkins. squash and most lines of loose vegetables sold at low figures. Eggs were m short supply and prices again advanced. Farmers' butter was in medium supply. A very largo proportion of the cockerels and young drakes which came _ forward were in poor oondition. The following prices were realised:— FRUIT. Bon Chretien pears, choice, 6s to 7s Gd a bushel; small, 6a to Cs; choice Gravenstem apples, 5s 6d to 7s (id a bushel: small and medium. 2a (id to 4s; tomatoes, 2s to 4s Gd a case; peaches (20lb. cases), choice, 7s to 8s; medium. 5s to Gs; best graded lemons, 10s to 15s a case; ovcrsizo and inferior, 4s to 6s a cas.i; ripe bananas. 25s to 28s a case, inferior, 10s to 15s; Island oranges. 10s to 15s a case; Sydney oranges, choice, 20a to 28s a ease; poor quality, 8s to 15s;local passion fruit, Gs to Gs Od a case; Capo gooseberries 5d to 8d per lb; hothouse grapes, lOd to Is Gd per lb; figs (in 18lb cases), 6s to 6s; Satsuma plums. 5s Gd to 7s Gd case; Doris plums, 7s to 8s a case; egg-fruit, 5s to 7s a bushel; Queensland pineapples, lis to 25s a case. FIELD PRODUCE. Best potatoes, 10s to 12s per cwt; second grade, Gs to 9s per cwt.; kumaras (over supplied), lid to ljd per lb, a drop of Id per lb; squash and pumpkins (over supplied), 5s to Gs per cwt; onions, 8s Gd to 9s per cwt; cabbage, Is Gd to 4s Gd a sack; best lettuce, 3s to Gs a case; second grade lettuce. Is to 2s a case; rhubarb, Is Gd to 2s 9d a dozen; best celery, Is Gd to 2s 9d a bundle; second grade, Gd to Is 3d a bundle; carrots, parsnips, beet and turnips, 4d to 9d a dozen bundles. Cucumbers and marrows were practically unsaleable. DAIRY PRODUCE. Hen eggs, 2s to 2s 2d a dozen; duck eggs. Is 9}d to Is lljd; pullet eggs, Is 8d to. Is I Old: farmers' butter, in lib pats, Is to Is 3d; in bulk, 9Jd to Is per lb. POULTRY. Black Orpington cockerels, good condition, Gs to 7s Gd each; Rhode Island Red cockerols, 5s 6d to 7s 3d; White Leghorn cockerels, 4s to Gs 3d; cockerels, poor condition, Is Gd to 3s 6d; heavy Black Orpington hens. 2s Gd to 3s 3d; light White Leghorn hens, Is Gd to 2s 3d; old ducks, Is to 2s; young drakes, good condition, 3s 6d to ss; young drakes, poor condition. Is 3d to 2s Gd. TUAKAU SHEEP FAIR. Dalgety and Company, Ltd., Auckland, report having held their first annual sheep fair at Tuakau last Monday. Considerably over the advertised number cam© forward, and every pen, with the exception of one, sold under the hammer. Buyers were present in large numbers from as far north as Whangerei, from the King Country, Waikato and Auckland. The yarding as a whole, consisted of annual drafts from the various farms and stations back from Tuakau. All tko sheep yarded were in firstclass order and condition. The 1200 odd two-toothed ewes averaged £2, selling from 37s to £2 Is for a well-bred pen on account of Mr. G. Booth. We yarded no four-year-old ewes, but the five-year-old sheep were of exceptionally good quality and sold very readily at 345, 34s 6d, 355, 35s 3d and 365, for M'essrs. Cameron and Maeaulay's, annual draft. Good full-mouthed ewes, in fair condition, sold from 27s Gd to 32s Gd. Old, failing and broken-mouthed ewes,_ out of condition, sold under steady competition at from 16s to 24a Gd. Wethers were keenly sought and four and six-toothed wethers realised from 33s to 36s 3d, the latter price being for 400 mostly six-toothed wethers, ex Botliwell Station. Two-toothed wethers realised from 29s Gd to 32s Gd; smaller two-toothed wethers, 26s to 28s. There was a smaller yarding than usual of lambs, but the quality was exceptionally good, fat woolly lambs going to 33s Gd, and shorn woolly lambs, 32s Gd. Good store shorn lambs realised £ 1 ss, £ 1 Gs 3d, £ 1 7s Gd: small shorn lambs. 15s 3d to 16s; cull lambs, 13s to 14s Gd; small woolly lambs, 15s Gd to 16s 9d. Southdown rams realised up to £9 9s; old Romney rams, from Ign. to 2k:ns. No one-shear Romney rams were yarded.

low;— Feb. .12. Fob. 7. £ Coin .•„ „• f.v 126,748,000 126.047,000 Reserve ■. .■ i.-, 23,479,000 22,858,000 Note issue ,. . 324,848,000 125,465,000 Govt. Deposits i.v 9,569,000 11.019,000 Other deposits 115,081,000 134,913,000 3-ovt. securities 45,820,000 67,503,000 Other securities 73,460,000 73,088,000 Proportion of reserve to liabilities .. 18.83 15.67

Feb. 12. Feb. 9. Par. N r ew York, dol. . 4.77 i 4.78i 4.8GG vlontreal, dol. . 4.78! 4.781 4.866 ?aris, fr. . ,1 . 89.30 88.95 25.225 Brussels, fr. .• . 93.80 93.65 -iome, lire . .■ . 1151 115! 25.225 Berlin, r.m. . . . 20.07 20.06 20.43 Stockholm, kr. . 17.74 17.17 18.159 Oslo, kr. . 31.30 31.32 18.159 Copenhagen, kr. . 26.85 26.88 IB. 159 Calcutta, pence . IS 18 24 Hongkong, pence 27* 27 2- — Yokohama, pence .' 19 IMG 19 1.1-16 241 Amsterdam .. . 11.87 11.80 Batavia . 11.97 11,0G

VariaPriee. tion. £ £ Consols, 24 per cent. r.v i. . 58 J 4+ British 31 p.c. war Joan . .1 i. . 9ti S. British Conversion, 31 p.c. •. Vow Zealand, 4 p.c., 1929 . . 79i — 9fii s. v'ew Zealand, 34 p.c,, 1940 r. . 87J r >ievv Zealand, 3 p.c.. 1945 . , 77 s. Zealand, 6 p.c., 1936-51 .. 109 r Commonwealth, 54 P-c., 1922-27 . . 101 i 4+ Commonwealth, 6 p.c., 1931-41 . . 1044 s. N.S.W., i p.c., 1933 . . 921 it V.S.W., 3 p.c., 1935 . . 7GJ . 83 i S. N.S.W.. 31 p.c., 1930-50 s. n.S.W., 5.} p.c., 1922-32 . 101! s. XS.W.. (it p.c., 1930-40 . 10G s. N.S.W., 6 p.c., 1930-40 . 104J it VictSriari, 34 p.c., 1921-2G i . 981 it Victorian. p.c., 1929-40 . 72 i s. Victorian, 34 p.c., 1929-49 . . SO it Victorian, 54 p.c., 1930-40 . 1044 it Queensland. 34 p.c.. 1921-30 . 90 j s. Queensland, 3 p.c., 1922-47 . 71J . 84} \i. Aust., 3} p.c., 1939 .. — B. Aust., 61 p.c., .1930-40 . . 106i s. S. Aust., 3 p.c , optional . . 63 i s. Tasmanian, 34 p.c., 1920-40 . 84 s. Tasmanian, 3 p.c., 1920-40 . . 77 s. Tasmanian. GJ p.c., 1930-40 .. IOCS if «V. Aust., 31 p.c., 1920-35 .. . 88 s. V. Aust.. 3 p.c., 1915-35 .. . 824 s. vV. Aust., fi p.c.. 1930-40 .. . 101" it ■Higher, 'Lower. S. Same. — Not auoted last week.