THE LONDON MARKETS.

New Zealand Herald, Volume LXIII, Issue 19299, 12 April 1926, Page 7

THE LONDON MARKETS.

FROZEN MEAT. Australian and N.Z. Cable Association. (Reed. 5.6 p.m.) LONDON, April 0, Sheep.—Canterbury; medium, 6Jd; heavy, sjjd. North Island, light, 6^(1; medium, 6d; heavy, s|d. Lambs.—Canterbury: Medium, 10 l-8d; heavy, 9 5-Bd. North Island: Seconds, 9Jd; Australian, seconds, both, 7 7-8 d; thirds, 7 7-8 d ; Argentine, seconds, 7|d, Chilled Beef.—Argentine, fores, 2|d ; hinds, 5 7-Bd. Others unchangedCOTTON, RUBBER, HEMP, ETC. (Last week's prices in parentheses.) Cotton. —May delivery, 9.41 d (9.63 d) per lb. Rubber. —Para, 25 J, d (27d) per lb; plantation and smoked, 26 5-8 d (29d). Jute.—April to May shipments, £46 15s (£45) per ton. Hemp.—March to May shipments, £3B (£3B) per ton. Copra.—March to April shipments, £2B 10s (£2B 7s 6d) per ton. Linseed Oil. —£31 5s (£3O 15s) per ton. Turpentine.—63s 6d (64s 3d) per cwt. WHEAT. Wheat.—Cargoes are active and have firmed 6d to 9d, but buyers arc awaiting a final Argentine estimate. Sales have taken place at 58s 6d to 57s 6d. Parcels are firmer but quiet. Sales are reported at 57s to 57s 3d. Liverpool Futures. —May, lis 4d per cental; July, lis 2Jd; October, 10s 7£d. N.Z. APPLES. The Westmoreland\s*New Zealand apples arrived in very good condition. Cox's sold at 18s to 21s; Dunn's at 14s to 16s; Worcesters and others at 12s to 14s. BRITISH PHOSPHATES. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) LONDON, April 9. Tho report of the Auditor-General on tho accounts of the trading commercial services conducted by Government Departments says the accounts of the British Phosphates Commission for the year ended June 30, 1925, show a divisible profit of about £IOO,OOO. Detailed accounts were not received. CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Kecd. 5.5 p.in.) CHICAGO, April 10. Wheat.—May, new, 1 dollar cents, per bushel; old, 1 dollar 59| cents; July, 1 dollar 37 cents; September, 1 dollar cents. AMERICA'S WINTER WHEAT. Australian and N.Z. Cable Association. (Reed. 5 5 p.m.) WASHINGTON, x\pril 9. The Department of Agriculture has reported that the condition of tho winter wheat crop on April 1 was 84.1 per cent, of tho normal crop, compared with 68.7 per cent, on the same date last . year. Thero was an increase in the condition of tho wheat from 'December 1, 1925, to April 1 last of 1.4 points, compared with an average decline in the past ten years of 5.7 points between these dates. WOOL SALES AND EXPORTS. NINE MONTHS' FIGURES. The sales of wool in New Zealand in March, according to figures compiled by Dalgetv and Company, Limited, totalled 105,917 bales out of an aggregate offering of 110,594 bales. Tho offerings and sales for the past nine months are as follow: — Bales Bales Offered. Sold. Tnvercargill .. .. 24,892 23,832 Dunedin . . . . 05.332 ('<;{.2^7 Oamnru . . . . 27,688 27,078 Christchurr.h .. .. 7!,.101 71.199 Blenheim . . . . 13R 117 Wellington . . . 87.P99 81,6(17 Wangrtnui . . . . fi3.070 5.1.677 Napier . . . . 98,989 90,806 (iisbome .. .. 3,083 2,57:1 Auckland . . . . 43,928 40.429 Totals . . . . 489,420 455,605 For the corresponding mine months Inst vcar 517,572 bales were offered and 450.587 sold. Tho exports of wool during March amounted to 109,877 bales. For tho past nine months 478,620 bales, were exported, compared with 454.072 bales in the corresponding nine r'onths of 1924-25. BRITISH TRADE LOANS. EXTENSION OF FACILITIES. Details of the provisions in Britain for "xtending the period of operation of the Granting of loans under the Trade Facilities xYcts were contained in a Treasury White Paper issued in February on expenditure likely to be incurred. Having recalled that under the original scheme an aggregate of £70.000,000 might be Guaranteed up to March 31, the memorandum proceeds:— It is estimated that on March 31, 1926, authority for £5,000,000 of guarantees will be unused. It is proposed to extend the period during which guarantees may be given to March 31, 1927. It is further proposed to increase the total i.f £70,000,000 to £75.000.000. The maximum contingent charge on the taxpayer under these proposals, assuming an unused balance of' £5.000,000 on March 31, 1926, is therefore the charge for tho interest on a»d redemption of a sum of £10.000,000. Under the Overseas Trade Acts, 19201924. the Board of Trade were authorised by Parliament to make arrangements in connection with export trade for granting credits and giving guarantees to an amount not exceeding £26.000,000, such credits and guarantees to bo graifted bo fore September 8, 1926, and not to remain in force later than September 8, 3930. Tt is proposed, without increasing the above maximum liability, to empower the board to give guarantees at any time beforo September 8, 1929, and to extend the date up to which guarantees mav remain in force to September 8. 1933.

DUNEDIN MARKETS. [r.Y TELEGRAPH.—OWN CORRESPONDENT. ] DUNEDIN. Sunday. Tho position in tho wheat market remains unchanged. Practically all the locally-grown wheat has been sold forward, and for lines not placed farmers are holding out for higher prices than millers are prepared to pay. Some of tho lower grades of these lines are being sold for fowl wheat at up to 6s 9d per bushel, sacks extra, on trucks. Reports regarding tho whoat crops continue most satisfactory. In several instances from 70 to 80 bushels per acre have been threshed in tho South. Tho quality is excellent, especially of the lines now coming in, these haying been threshed out of the stack. Millers have sufficient, wheat to keep them going in the Meantime. They are finding that, the demand for flour in Now Zealand has fallen very considerably consequent on the importation of (Australian flour. The oats market remains in a stagnant condition. Offerings are increasing, farmers taking advantage of the present fine weather to thresh the grain as quickly as possible. Merchants arc not keen to buy, as they are unable to place purchases. Most of tho sales taking placo are to forward sellers, who have to cover their commitments. Tho present quotations are 4s 6d f.0.b.• s.i., for A's, and 4s 3d for B's. Tho chaff market continues weak. Supplies are plentiful in the stores. Tho present value is about £6 per ton, sacks extra, on truck, for best quality. Medium and poor quality is practically unsaleable and is also boinc hold in the stores. Tho potato market has a firmer tendency. Best quality is worth £7 5s per 2 toil, sacks included, ex truck. j