COMMERCIAL

New Zealand Herald, Volume 81, Issue 24869, 15 April 1944, Page 5

COMMERCIAL

BRITAIN NEEDS MEAT DEMAND FOR HEAVIER LAMBS (Special Correspondent) LONDON, April 13 New Zealand meat producers have lost none of the goodwill which tlicy built up 011* the British market before the war. The decision to ration meat in the Dominion lias been received very gratefully hero. In the immediate post-war years there is likely to be a shortage of meat for a substantial period, when New Zealand will find a market for every ounce she can send. That briefly sums up the position of New Zealand meat in Great Britain. Fifth of Britain's Imports New Zealand, although barely keeping up her pre-war production, is supplying Britain with one-fifth of her total meat imports and. although the Ministry of Food has been able to maintain the weekly ration of Is !»'d a head, the position six months ahead is doubtful, even precarious. This is one of the reasons why the Dominion's decision to ration herself has been so gratefully received, and why everything she can do still further to increase her exports is vitally important at this stage of the war. The pre-war preference for light lambs has entirely gone to-day, the demand being for quantity before quality. If an extra (jib can be added to 3-1-pounder lambs they will be very welcome, and experts in the trade do not believe New Zealand will lose a ha'porth of goodwill after the war by so doing, since then the demand will again be for the smaller lamb, which (lie Dominion can obviously produce. One of the reasons for this lack of preference is that distribution cannot be directed to any particular urea, all imported meats being pooled and all districts glad to get what they ea n Post-war Shortage Regarding the post-war position, it is considered there is not the slightest likelihood of any surplus meat throughout the world for at least two or three years, probably more. What is likely to occur after that interval is anybody's %ium. Although advertising by various countrie» of their meat has long since ended, New Zealand has lost none of her reputation, for New Zealand "shirts," in which her produce is shipped, are easily recognised by butchers, who know its quality. I'osl-war developments which can be forecast, however, are that the telescoping of New Zealand mutton and lamb is likely to end. and beef will again be in quarters in the bone as soon as whipping facilities are adequate. It is also likely that, apart from supplies for the forces in the Pacific, there will be a reduced demand for dried or dehydrated meat This is fairly obvious for the public here, after years of a small ration, when even what is doubtfully known as offal is welcomed to eke out rations, will be only too ready to have a cut off a joint and eschew anything connected with wartime conditions. RESERVE BANK RETURN STERLING £219.199 HIGHER (P.A.) WELLINGTON, Friday The Reserve Bank return for the week ended Monday, April 3. with variations in the figures compared with those in the previous week's statement, is as follows: LI ABILITIES Variation

THE CITY MARKETS FRUH SUPPLIES SHORT With the exception of apples, fruit supplies were short at the City Markets yesterday. Supplies of tomatoes were inadequate. but prues were still low. the usual level being about half that of former years. There were heavy quantities of vegetables, especially celery, beans and lettuce, and prices were low. Pumpkins, melons and pickling onions were a irlut on the market. Prices were;— Fruit. —Tomatoes, outdoor, 5s to ills a ease; tree tomatoes, new black, yellow. 12s to 2ds; fiuinces, 12s to His three-quarter case; grapes, hothouse, Gros Colman, Is ltd lo Is per lb: outdoor. Te Kauwhata-grown, 13s to 2,' is a ease; passion fruit. 10s lo 2.'is; figs, Ids to Ion; persimmons. us to 12 s; strawberries, Captain Cook, ;is to ."is a chip; fejois, | Ids to Its a case; guavas. lls to His (id; chestnuts, Is to Is 5d lb, Field Produce. — Beet. Ms to lis a case; celery, cooking. I'd to Is (id bundle; dessert, J •is to ss; carrots, 3s to 7s (id bag; cauHflowers, 7k to 12s sack; cabbages, .'is to |Os; cucumbers, Is to lis do/,.; strinsrlcss beans Is to -Is (id a case; green peas. 15s to ;{ds bag; | kumaras, Is to ss (id basr; leeks, lid to Is .'id j bundle; lettuce, 2s to 5s (id case; marrows, is (id to 3g fid sack; melons, citrons. 2s Od tp -is; onions. 13s to Kis cwt; potatoes, i Kangitikei, 15s; Ohakune. 13s (id; Pukekohe, ■ls to (is a bag; pumpkins, choice Whanira- I paraoa Crown, Hs to 12s sack; mixed and medium, 2s (id to (is; parsnips, 2()s cwt; 1 radish, 2s fid to 5s a case; rhubarb, Is (id to I 3s 3d dozen; spinach, 2s to 4s (id case; spring I onions, !>d to 2s bundle; swedes. 2s to -is j bag 1 ; turnips. 2s (id to 4s case; Brussels sprouts, (id to is per lb. Poultry.-—Cockerels, heavy breeds, prime, | 7s to 1 Osi not prime, ss; light prime, 5s to: (is (id; not prime, 3s (id; fat hens, heavy, I 5s (id to 7s (id; light. -Js <iti to 5s (id; pullets, j heavy, best, 8s (id to Pis (id; smaller, -Is (id ' up; light, best, 7s (id to 10s fid; smaller, j 3s (id up; drakes, young, prime. 3s (id lo 4s; | old 2s (id to 3s; ducks, young, 5s to 7s (id; j old, 2s (id to 3s; turkey liens. Ids (id to 12s (id; geese, 5s (id to (is (id; gobblers, 15s j (id to 25s cd. Eggs.—Hen. standard grade. 2s 11 'Atl doz.; ! duck, standard grade. 2s O'-ad doz. MOUNT MORGAN CHANCE The retirement of Mr. L. A. Wcslcott, | general manager of Mount Morgan, Limited, j Queensland, owing to iil-healtli, is announced I by the directors Mr. M. J. John, formerly I chief engineer has been appointed to fill the vacancy. Mr. Wcstcott joined the Mount. Morgan staff in 1002. and served in the mining department for 14 years, during the last four of which he was underground manager. Prior to rejoining the staff in 1H37, he was field superintendent for Gold Mines of Australia, Limited, in Queensland, and general superintendent for Western Mining Corporation, Limited, Western Australia.

£200,000 HOSPITAL LOAN (P.A.) DUNEDIN, Friday The Otago Hospital Board lias accepted the offer of a Diitiedin sharebroker to negotiate the board's £200,000 loan for a 20-year period at li'A tier cent. SECURITIES IN LONDON LONDON, April l.'i Quotations in London for British and New Zealand stocks are quietly firm. Current levels, compared with recent levels, are:— March HO April (j April Li Consols, 2V 3 p.c. ,t'7B'% a £707 16 £7U'A a Funding, 60-00, 4 *112% I l'2V, a 312% War Loan, 3% .. 101 JOl :, /„, 101 % British Conv. 10F/ ia 101% 101%, Victory Bonds .. 112 112}% 1 12%. New Zealand—--1015, . .. 100% .100% 100% 1018-58. 4% . . 101% 101% 10-1-% *Ex interest. PUKEKOHE STOCK VALUES (0.C.) PUKEKOHE. Friday A small yarding of dairy cattle met with a keen demand at Alfred Bucklnnd and Sons' stock sale at Pukekohe yesterday, and high values were realised. Best cows, close to profit, made £ll 10s to £1*1; good quality £0 10s to €11; more backward, £0 10s to £8 log: aged and unsound, £3 to £5; choice heifers, close to profit, £ll 10s to £l3 ss; good, £0 10s to £11; more backward, C 7 10s to CD; small and backward. £5 to £0 15s; best. Jersey heifer calves. £4 to £4 Ilis; medium, t'3 to ,C.'i 15s; small, £1 10s lo £'2 15s. In sheep, fat hoggets made £1 10s to £1 lis; fat lambs, £! to £1 .'ls; saleable lambs, 1.7s lo 1 Os; medium store lambs. 10s to 13s. A medium yardinir of beef and boner cattle sold under keen competition at prices slightly in advance of late sales. Heavy prime Shorthorn cows sold from £lO to £11; medium, €8 tos to Co 10s; heavy fat Jersey cows. £<i 15s to £7 15s; fat Jersey heifers. £5 to £7 10s; heavy boner cows, £4 10s to £5 15s; medium, £3 15s to £4 ss; light, C2 10,s to £3 5s- good-conditioned 2%-year-old Shorthorn steers, £8 5s to £0 15s; potter bulls, £4 to £7. A irood entry of fat pigs mot a spirited demand. Stores were penned in smaller numbers and values improved. Heavy baconers, £4 8s to £4 12s; medium. £4 to I 7s; light, £.3 12s to £3 18,s; heavy porkers and buttermilk pigs. £3 lo £3 8s; medium. £2 10s to £2 18s; light, £1 18s to £2 6s; choppers. £2 to £1 ss; stores, f l 8s to £1 lGs; slips. His to £1 8s; best weanerg, 12s to £1; others, os to 10s; service boars, to £5.

£ £ (It'll, reserve . . 1 ,500,000 Same Bank notes ;«i,598,77!) +:i KJ/JHrj Demand liabilities —- State i is,two -5,51 1,885 Hanks . 20,7)0,120 -j,i(!i,t;il Other :!H5,()81 - 550.012 Other currencies + 22.230 Other liabilities 2,105,7:52 -50,130 Total 82,87 1,8!M - (1,010.000 ASSETS Reserve —- Cold a,SOI,877 Sa me Sterling Ex. . . 27,OHM 27 4-2 l!),lfm Subsidiary coin 00,025 - 10,180 Advances — Marketing 1 ,552,551 -7015,010 < Hher M5,885,000 -0,000,000 Investment ) i.T i;?, I_M> -210,880 Other assets 2,S 10,08") -110,110 Total 82,871,81)1 -0,1110,000 Proportion of reserve to notes and other demand liabilities 38.807 per e ent (35.102 last week) 1'he principal items in this week's return are compared with those at the corresponding date last year in the following table:— ((JOG'S omitted) 1011 I UK Variation Notes :!(!,,*)!)!l :i<>, J! 7 -Hi, 102 DepositsStale I id M.lij .5 -1.000 Banks 20, 7-1 ti 22,18 5 r 7,501 Exchange .. '27,!'S 1 2U.M (i +7,8155 Advances— Marketing l,55,"5 H,<M -2.082 (Hher it.j.sh.i ai.ia 5 -ft, 750 Hatio (.per cent) ;is.s-;l)7 ;i.'i.810 4- 1 .!)!> 1