PRODUCE IN LONDON.

New Zealand Herald, Volume LXV, Issue 19947, 16 May 1928, Page 9

PRODUCE IN LONDON.

HEMP MARKET QUIET. LATEST PRICES FOR FRUIT.

The Department of Agriculture lias received the following cablegram, dated May 12, from the Jtugh Commissioner lor i\ew Zealand, London: — Tallow. —No auction this week. The market is quiet but steady at last quotation^.

Hemp.—The Manila market is dull and easier. Closing values are: Sellers, "J" grade, May-July shipment, £37 15s. Output from January 1 to April 30 was 454,000 bales against 429,000 lor the same period last year. Stocks in Manila on April 30, 143,000 against 136,000; in Great Britain, 20,520 against 5684. The sisal market is quiet, with sellers offering close at hand more freely. Spot and near are now quoted at No. 1, £36 10s; No. 2, £34 15s to £35. The New Zealand market is very quiet. It is reported that freight rates to Great Britain have been reduced 15s per Nominal closing values are: Highpoints, £3l; fair, £2B 5s to £2B 10s; common, £2B;-No. 2. tow, £2O; No. 3, £l7 10s, May-July shipment. Wool.—The sales continue with good competition at the somewhat lower level now established. Good halfbred are about 5 pci* cent, down; other .crossbreds, par to 5 per cent. down. Apples.—Mature and large fruit on the Mahana were bruised, otherwise the shipment was in good condition. The Cornwall and Rotorua have commenced to discharge. No material change in market. Prices are: Cox's Orange, 12s to 15s a rase (wasty parcels about as low as ss); Rome Beautv, Jonathan and Delicious, 10s to 12s; Cleopatra, 12s to 14s; Dunn's Favourite, 10s 6d to 12s 6d: London Pippin and Adam's Pearmain, 9s 6d to lis: Ballarat Seedling and King David, lis to lis 6d.

Pears.—The Rotorua's Shipment is in the market and is mainly sound, except for Beurre Bosc, in ■which there is some waste. Trade is quiet. Prices are: Josephine, 4s to 6s a tray; Beurre Bosc and Winter Nelis, 3s 6d to ss; P. Barry, 3s to 4s; Winter Cole, 3s to 3s 6d. THE LONDON MARKETS. FOREIGN EXCHANGES. Australian Press Associatipn—United Service (Received May 15. 5.5 p.m.) LONDON, May 14. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on May 10 and par:— May 14. May 10. Par. Brussels, belga . . 34.96 34.90 35.00 Paris, fr. . . 124.00 124.02 25.225 Stockholm, kr. . 18.19 18.20 18.159 Oslo, kr. . . 18.22 1 8.23 18.159 Copenhagen, kr. 18.20 18.20 18.159 Berlin, r.m. . . C 0.40 20.40 20.43 Rome, lire . . . 92.05 92.63 25.225 Prague, kr. .. 1043 104 11-16 24.02 Calcutta, pence . 18.00 18 1-32 24 Yokohama, pence 23 22; 24} Hongkong, pence '24! 24 2 Montreal, dol .. 4.88 9-10 4.88 3-16 4.8G6 New York. dol. . 4.88 3-16 4.88 1-32 4.806 Amsterdam, fi. . . 12.095 12.09} . 12.10 Batavia, fl. .. 12.12 12.11 i 12.10 THE METAL MARKETS.

(Quotations on May 7 in parentheses,) Copper.—Spot, £62 5s 7£d (£6l 8s 9d) ; three months, £62 9s 4id (£6l 13s 9d). Electrolytic Copper.—Spot, £66 15s (£66 10s); three months, £67 5s (£67). Wire Bars.—Spot. £67 5s (£67) ; three months, £67 5s (£67).

Lead.—Spot, £2O 7s 6d (£2O 6s 3d) ; three months, £2O 13s 9d (£2O lis 3d). Spelter.—Spot. £26 5s (£26 6s 3d) ; three months, £25 16s 3d (£25 17s 6d). Tin.—Spot, £232 6s 3d (£232 17s 6d): three months, £231 13s 9d (£231 17s 6d). Silver.—Standard, 27 7-16 d (27d) per oz.; fine, 29$ d (29id). P. AND 0. SHARES. P. and O. deferred stock is quoted at £250 WHEAT. Wheat.—Cargoes are quiet and have declined 3d to 6d owing to a revision of the American crop estimates. Parcels are offered at a reduction of 3d to 9d, but are not attracting attention. Liverpool futures: May, 10s 7 l-8d per cental; July, 10s 10|d; October, lis OAd. BRADFORD TOPS. The Bradford tops market is inactive and there is very little inquiry, but quotations are firmly maintained. Spinners are not getting any new business. AUCKLAND COMPANIES. FOUR NEW REGISTRATIONS. One new public company and three new private companies have been registered in Auckland, details being as follows: PUBLIC. Queen's Arcade, Ltd. Objects: To acquire city properties, etc. Capital: £45,000, divided into £1 shares. Subscribers: Eliot R. Davis, Samuel Fletcher, Ambrose W. Good, Hector Morpeth, Charles J. Shaw, Andrew M. Paterson, Samuel Yaile and Sons, Ltd., each one share PRIVATE. Liberty's Furnishing Warehouse, Ltd. Objects: To carry on the business of house furnishers, etc. Capital: £ISOO, divided into £1 shares. Subscribers: Howard Newman, Spencer Layland and Sydney Robert Massaur, 500 each. Melville and Co., Ltd, Objects: To carry on the business. of business and financial agents, etc. Capital: £ISOO, divided into £1 shares. Subscribers: John Raymond, Charles F. Smith and Harold Pomfrett, each 500 shares. H. W. Frost (Christchurch), Ltd. Objects: To carry on the business of dental surgeons, etc. Capital: £IBOO, divided into £1 shares. Subscribers: Harold W. Frost. 1798 shares: Albert E. Higpins and Charles A. Collier, one share each.

DAIRYING CONFERENCE. DELEGATES AT MELBOURNE. MELBOURNE, May 15. An inter-State conference is being held in Melbourne by Australian and New Zealand managers of butter and cheese factories. Two hundred delegates are present. The Federal Minister of Markets,. Mr. Thomas Paterson, said investigation concerning the deterioration of Australian butter on its arrival at London had shown that factors other than the prohibition of boric acid as a preservative were responsible. Further . experiments were in progress. The Federal Ministry was now considering a proposal to establish a, Dairy Research Institute under the leadership of a bacteriologist. A Victorian dairy superintendent said Victoria was tightening up the Dairy Act, with a view to ensuring the very best .cream, as the factories could not manufacture first quality butter from contaminated cream. QUEENSLAND ROMA OIL. Queensland Roma Oil, Ltd., tho first company to.be approved by the Queensland Government under tho Petroleum Act, has been formed in Brisbane with a capital of £75,000, divided into 150,000 shares of 10s each. Tho object is to take over from the Brisbane Roma Oil Syndicate petroleum prospecting permits 67 and 99, situated in tho Rorna-Oralla reservation zone, containing of approximately 10,000 acres each. One hundred thousand shares are offered for publib subscription. Vendors receive 11,250 fully-paid shares as purchaso consideration, and.no cash. Their cash outlay and initial expenses will be coverod by an issue of 2000 fully-paid shares. The remaining 36,750 shares are to be held in rosorve.