PRODUCE IN LONDON.

New Zealand Herald, Volume LXV, Issue 20072, 9 October 1928, Page 9

PRODUCE IN LONDON.

STRONG DEMAND FOR TALLOW HEMP AND WOOL QUOTATIONS. [BY TELEGRAPH. —OWN CORRESPONDENT.] WELLINGTON, Monday. Tlio Department of AgricultuVo has received the following cablegram, dated October 6, from tho High Commissioner for New Zealand, London: — Tallbw.—The market is firm, and there is strong demand at auction 'at higher prices. Present spot quotations are:—Slutton: Fair to good, 43s to 44s per cwt; dark to dull, 40s 6d to 41s 6d. Beef: Sweet and/or mixed, 44s to 47s 9d; fair to good, 41s 6d to 445; dark to dull, 39s to 41s. Mixed: Fair to good, 41s to 435; dark to dull, 39s to 41s 3d. Gut, etc. : 38s to 41s. Hemp.—The Manila market is quiet, but closed more steady. Value of "J " grade for October/December shipment, £32 10s. Sisal: The market is slow, with small demand. Business is reported at £35 5s for No. 1 and £34 for No. 2 October/December shipment. Now Zealand : Tho market is easier. Small business has boen douo in high points at £3l 10s, fair £2B. Nominal closing values, high points, £3l 10s; fair, £2B; common, £27. Tow: Second grade, £2O; third grade, £l7, October-December shipments. Wool.—The sales closed on Thursday. There was a good representative attendance throughout, but competition was hesitating, and withdrawals were heavy. Thoro was a little more support from the Continent during this week for Merino and fine crossbred. On account of comparative scarcity halfbreds showed least decline. Compared with the closing rates of the last series. Merino was generally 10 per cent, to 15 per cent, lower, inferior 15 per cent, to 20 per cent., fine crossbred, 7h per cent, to 10 per cent., oilier crossbreds and slipe 30 per cent, to fully 15 per cent. Average closing rates: 60-64's (nominal), 2s to 2s 2d per lb; average, Is 5d to Is 8d; 56-58's, Is lid to 2s 2d; 50-56's, Is 8d to Is lOd; 48-50's, Is 6rl to Is 8d; 44-46's, Is 5d to Is 6d; 36-40's, Is 3>d to Is 4jd; Of a total offering of 140,445 bales, 92,000 wcro sold, tho Continent taking 55,500 bales, the homo trade 35,500 and America 1000. The next series commences on November 20. Oats. —Foreign is quiet, but more interest has been shown.recently. Plate, De-cember-January shipments, is offered at 24s 3d; Chilean, February-March shipments, has sold' at 245, and American white clipped for early October shipment, 23s English is freely offered, the best making 29s 6d for feed and 33s for seed. Nominal value of New Zealand A grado Gartons for October shipment. 31s. Peas.—Maple: The English crop is of good quality, and a fair supply is offering. Cheap imported is inactive. New Zealand, No. 1 Partridge, sold for Snp-tembcr-Oclober shipment, at 61s; Tasmanian new crop for February-March shipment is offered at 73s 6d: Blues: The demand is chiefly for Dutch and English, of which the yield is abundant. Nominal value New Zealand, £lB to £l9, and Tasmanian £l9 to £l9 10s, c.i.f., London. LONDON DAIRY PRICES. MARKET STILL VERY QUIET. Advice that the London dairy produco market is still very quiet ivas contained in cablegrams received by Auckland merchants yesterday. Amalgamated Dairies, Limited, i-ecoived the following cablegram from its London managerßutter: Prices are unchanged; finest, 186s-; the market is-still dead quiet; Danish, spot, 195s 6d; f.0.b., 190s. Deliveries, New Zealand, 555 tons; stock, 3740 tons. Retail prices unchanged. Cheese: White, 112s to 114s; .coloured, 110s to 112s; Canadian, spot, 110s to 114s; c.i.f., 104s to 106s; retail un< changed. Cheese stocks, 182,000 boxes and 39,600 crates, compared with 168,000 boxes and 47,000 crates, last year. The Bank of New Zealand received the following advico from its London oflice ns at the close of business last week:— Butter: Quiet, very littlo doing; 180s to 182s per cwt. Checso: Weak; white, Ills to 112s per cwt.; coloured, 109s to 110s per cwt. Joseph Nathan and Company, Limited, received tho following cablegram from their London house, Trengrouso and Nathan, Limited: —Butter: 178s to 180s. Cheese: White and coloured, 110s; both markets stagnant. A. S. Paterson and Company, Limited, received the following cablegram from ,7. ahd J." Lonsdale and Company, Limited, London : Butter: Danish, 198s; New Zealand, 100s; Australian, 170s; Siberian, 160s. Tho demand is dull, but wo expect it to improve at reduced soiling prices. Cheese: Tho market has slumped. Canadian, 106s, c.i.f.; New Zealand, 110s to 112s. There is no demand. Higher prices for cheese arc not anticipated. AUCKLAND COMPANIES. ONE NEW REGISTRATION. Details of a new public company registered in* Auckland yesterday are as follows : . Ashburton Theatre Company, Limited, to buy.from New Zealand Picture Supplies, Limited, the Theatre. Royal, Ashburton. Capital: £SOOO, divided into £1 shares. INVESTMENT TRUST. NEW AUCKLAND. COMPANY. Tho abridged prospectus of the British and Dominion Investment Trust, Limited, as advertised 011 another page, describes the formation of the company as an effort by Now Zealand business men to establish an adequately capitalised organisation, ori the principles hiid down and practised by English and Scottish investment trusts, which occupy a highly important place in tho financial system of those countries. The fundamental principle upon which such a trust operates is the spreading of investment risks over 11 wide field by distributing the greater proportion of both its subscribed and borrowed capital in a considerable number of carefully-selected investments. Tho now company has been formed by a group of Auckland business men headed by Mr. James Fletcher as chairman of directors. The nominal capital of Ihe company is £500,000, of which 100,000 shares of £1 each are offered for public subscription. It is reported that 30,000 shares have already been applied for. The objects of the company arc to carry on the usual business of an investment trust company, to underwrite capital issues, to make advances 011 approved securities and to act as trustee for deboiititro*-' holdcrs. LONDON MEAT MARKET. Tho Bank of New Zealand has received the following advico from its London office as at tho closo of business last week:—Frozen meat: Tho market has declined for' wethers and tho domiuitl is'very poor. Thoro is only 11 pool' demand for ewes.' Tho market for lambs is dull and has a downward tendency. Trade in beef is slow generally, owing to heavy supplies of fresh meat, but prospects are more favourable. Wethers, light, 7d to 7jjd per lb.; heavy, 6d to 6jjtl. Ewes, 5d to 6d. Lambs, twos, 10d to per lb. ; eights, lOd to 10,\d; fours, 9kl to 93d; seconds, to 9id. Ox hinds, 5d to per lb.; fores, to 4d. Cow hinds, jto sd> fores, to OjJd.