PRODUCE IN LONDON.

New Zealand Herald, Volume LXV, Issue 19918, 11 April 1928, Page 7

PRODUCE IN LONDON.

TALLOW PRICES ADVANCE. TRADE IN APPLES QUIET. [by telegraph.—own correspondent.] "WELLINGTON, Tweaday. The Department of Agriculture has received the following cablegram dated April 5 from the High Commissioner for New Zealand, London. Tallow.—There was a good demand at auction and prices of all descriptions advanced, especially for better grade mutton. Spot quotations are : —Mutton: Fine, 42s per cwt,; fair to good, 37s 6d to 40s. Beef: Sweet and/or mixed, nominal; fair to good, 37s 6d to 39s 6d. Mixed: Fair to good, 37s 6d to 395. Gut, etc.: 34s to 37s 3d. Apples.—Trade is quiet. The Tainui and Northumberland shipments are mostly cleared except for large Worcester Pearmains and Gravensteins. Prices are— Cox's Orange, 18s to 25s per case; Worcester Pearmain, 12s to 16s; Gravenstein, 12s to 14s; Ribston Pippin, 13s to 15s; Dunn's Favourite, 13s to 16s. Hemp.—The Manila market is easier for near positions, distant being steady. Closing value of "J" grade is £37 15s to £3B 5s according to position. Sisal: The market is steady and only small business is being done in early shipments of No. 1 at £36 10s to £37, with later shipments at £36 ss. Value of No. 2 is £34 10s to £35. New Zealand: There is slightly better demand for high points and business is reported at £32. Demand for fair grade is quiet. Nominal closing values for April-June shipments are £32 and £29 10s respectively. .Peas.—For the maple variety spot trade is slow, English best making up to 675. The New Zealand market is quiet but steady. Business is reported in March-May shipments at 69s 6d. Sellers quoted March-April shipments and April-May shipments at 70s, Tasmanian, 77s 6d. Blues: A better demand. "A" grade Tasmanian afloat are quoted at £2O 10s per ton and April-May shipments at £2O, New Zealand £lB to £l9 ex store. . . Wool.—The Bradford market is quiet but firm. Present quotations for tops are—64s (Merino) warp, 4s 8d per lb.: 50's half-bred, 2s lOd; average, 4s 7d; 40's prepared, 2s 2d; 56's super halfbred, 3s Bd. | BLUE AND STARCH PROFITS, DIVIDEND OF 21 PER CENT. Reckitt and Sons, Ltd., manufacturers of starch, blue, blacklead and metal polish, have increased their capital to £5,148.000 by the issue of £1,000,000 in 5 per cent, preference shares as a bonus, Tho profits for 1927 were £1,323,000, and the dividend on £3,648,000 of ordinary shares was 21 per cent. Preference shares of £500,000 carry a cumulative dividend at the rate of 4£ per cerlt. . > BIG RUBBER CREDIT. TOTAL OF £12,000,000. The National Bank of Commerce, in New York, and the International Acceptance Bank, Inc., have recently arranged a credit on behalf of the national reserve for crude rubber, commonly referred to as the "American rubber pool." The credit providesVfor £6.000;000 now, and an additional £6,000,000 if and when required.

AUSTRALIAN WHEAT. .! 'j OUTSTANDING QUALITY. The wheat markets have shown more activity during the last few weeks, and there has been a good demand for Australian, says the Banking Record. More business has been done in Australian than in other wheats on account of its good quality, which has placed it at a high premium in comparison with other classes. Canadian wheat available includes -a considerable proportion of off-grades, and virtually no No. 1 or No. 2 Manitoba. In addition, last year's European crops were harvested under very bad weather conditions. Australian farmers have been taking advantage of tjie situation, and have been selling steadily in all States. With more business for export, the freight market has steadied, and for full cargoes owners are quoting 35s a ton, while parcel space is heavily engaged until June. Owing 'to the relatively high prices ruling for Australian wheat, Australian flour is now out of line with flour produced in other countries from cheaper wheat, and the flour milling business is at present in anything .but a satisfactory condition, and most of the plants throughout Australia are working short time. Shipments and commitments 'of wheat and flour so far this season represent approximately 50 per cent, of the exportable surplus, and the Continental demand for Australian wheat, has been of considerable value in affording an outlet.