FINANCE AND TRADE.

New Zealand Times, Volume XXVII, Issue 5598, 26 May 1905, Page 7

FINANCE AND TRADE.

Hie Customs revenue received jester day totalled £2221 Os Id.

Dalgoty and Co., Ltd., Wellington, have received tho following cablegram from their London office, dated 21th instant :—Since our last telegram prices for prime mutton tallow and for low and inferior descriptions are unchanged. Other descriptions are higher by 3d.

Messrs P. J. Mac-Lean and Co. report that at their sale of horses at Taita on Tuesday there was a good attendance of buyers. Tho class of horses yarded chiefly embraced heavy draughts,-with odd buggy horses and hacks. Competition was keen for suitable sorts, and satisfactory prices were obtained, heavy draughts making £36 KXs to £lB. hacks and buggy horses from £l6 10s. At tho firm’s stock sale buyers were also in good attendance. Competition was fairly keen. The prices obtained were considered satisfactory. Dairy heifers (s;nall), £1 2s to £2 Gs; steers, £1 2s to £1 15s; springors, £5 to £6 15s. A buggy horse sold for £l3, spring trap £7, buggy £7, and a quantity of harness and machinery at satisfactory prices.

SOUTH AFRICAN MARKET REPORT.

The Department of Industries and Commerce has received the following report from Mr J. G. Gew, tho Commercial Agent for New Zealand in South Africa, dated Durban, April 19th:—

In the main business in Africa remains much tho same as at the date of my last report, with some indications of improvement in various branches. In Capetown there has been considerable discussion bearing upon the meat question, consequent upon a motion tabled in tho House for the re-imposition of tho meat tax. The Government does not agree to tho tax being imposed. The question will be up for discussion in Natal shortly, when, as the country party is strong, the vote will probably bo in favour of rodraposition. The following are the current quotations:— Butter and cheese. —The market _at present seems to have an improving tendency. Supplies of local are dwindling very considerably. This leaves the importer a better chance for tho next five or six months. Figures from Australia are abnormally high. The bulk of the business from here is ooing to New Zealand and Argentine. Quotations run about 101 d and 10',d respectively, f.o.b. for pound pats, full weights. At this season of the year particularly Argentine has been in very strong favour heretofore in Capetown, Port Elizabeth, and East Loudon ; this year I am glad to report New Zealand is looked upon with hotter favour than formerly in those places, and it seems very probable that next season the hulk of the trad© in those ports will go to New Zealand suppliers. Of course, in the spring and summertime, Australian quotations are generally low enough to bring the balance in their favour. Cheese. —Tho market is about normal. Prices are from SRI to 9d. There should bo a better demand for New Zealand shortly. Australians who have handled New Zealand products in other parts are gradually trying experiments with it in this country with, a, result, I am glad to say, in most cases very satisfactory. In tho winter-time particularly Now Zealand should havo a very fair sale. Potatoes.—They are just between seasons as far as local crops are concerned. The winter sorts will arrive in about a month’s time. Meanwhile the summer potatoes are showing a tendency to.sprout, and otherwise hearing evidence of 'being at the end of their term. The Cape crops this year have boon very poor, and during tho last few weeks shipments have been made from here to supply the Southern coastal ports, with a result that prices have Srmed up from 8s 6d to 12s per muid. There are some Scotch on the water shipped from Liverpool costing £3 10s f.0.b., «nd with freight, insurance added, running out about £6 10s c.i.f. South Africa. East Coasts (Momhassal are quoting £7 10s to £8 c.i.f. April shipments Australia at £9 15s are out of it this season. I think Ehgland, together with tho local goods, will supply tho market for the next four or five months. On account of such a long time taken,to deliver from New Zealand, operators do not care to take the risk of their, lauding in good order, though if shippers would give a guarantee of condition on arrival, some business might be done during the next couple or three months at about £7 to £7 10s o.i.f.

Onions.—The Oape has had a plentiful supply of these, and there are no signs yert of there being any necessity to import for the next three weeks. After then, Egyptians will no doubt come on the market. These are being quoted at 6s 6d per 1001 b 0.i.f., direct shipment via East Ooast. English houses are asking 10s 6d per cwt., but the latter quotation covers guaranteed weight and condition on arrival. In another six weeks onions are likely to be dear. Present rate for Cape is 10s 6d per 1001 bo* wharf Durban. Australia this year is quoting £l3 10s to £l2 15s per ton o.i.f. These figures, of course, are prohibitive for this marked. Oats. —The military are buying largely in oats from Cape Colony, giving local produce the preference. Sales have been made at 6s 6d " A ” Gartens, 6s 2d to 6s 3d “11'’ Gartons, 5s 10t|t to 6a "A ’’ Danish. A large shipment has just arrived ex Drayton Grange 'in splendid condition. Wheat. —Australian is quoted at 6s lOd 0.i.f., f.a.q. No demand for New Zealand. Fodder.—Australian compressed in halos of 1001 b, 80s per ton of 22401 b o.i.f. Lucerne.—There is a good business from Argentine at 85s per ton of 22401 b o.i.f. Bran. —Sales have been made on a large scale from New Zealand at 4s 7d to 4a lOd per 1001 b c.i.f. There is a keen demand in Capetown, owing to good orders being placed by the Germans for West Africa. Australia is unable to supply under 5s o.i.f. Maize.—Another large crop locally is reported, and there will be no importation. Pork.—American pork loins, 6d per lb c.i.f.: legs, 7id per lb c.i.f.; hogs, 4Jd per lb c.i.f. Fowls, 7Jd per lb c.i.f. Beef. Sides, 2|d per lb 0.i.f.; fores, 2Jd per lb c.i.f.; hinds, 3id per lb o.i.f. Ducks.—New Zealand, 5s per pair c.i.f. Meat.—Sydney mutton, 3 3-18 d per lb 0.i.f.; Sydney lambs, 4|d per lb c.i.f.; beef rumps, 3 17-32 d per lb o.i.f. ■ sirloins, 3 17-33 d per lb c.i.f.; legs mutton, 4Jd. per lb c.i.f.

COMMERCIAL CABLES PRESS ASSOCIATION. LONDON. May 24. Wheat.—Two Australian cargoes sold at 32 s and 31s 10\d net cash respectively. At the tallow sales 1429 casks were offered and 8-18 sold- Excepting fine mutton, which is unchanged, other sorts advanced 3d. NAPIER.. May 25.

Tho Colonial Consignment and Distributing Company has received the following cablegram from London: — ‘‘ Frozen meat quotations—Canterbury mutton, LJd; Napier, Wellington, and North Island, 3RI. Lamb, first quality, o.fd; second; s|d. Beef, hinds 31d, fores 2fd.” HIDES AND TALLOW. (Received May 25, 11.12 p.m.) MELBOURNE. May 25. Hides aro in good supply. Average and medium weights are fully a farthing lower, stouts and keps unchanged. Tallow is about 5s per ton. lower. GRAIN AND PRODUCE REPORT. Dalgety and Co., Ltd., report from Dunedin, under date the 22nd inst., as follows: Oats—There has been a good inquiry for bright heavy Gartens, and any offering meet with a ready sale at satisfactory prices. B grade Gartons and Sparrowbills are in fair demand, and for these late rates are well maintained. The lower grades, although not offering in any quantity, aro saleable. W© quote: Prime milling Is Bjßi to Is 9cl; good to best feed. Is 7d to Is 8d; .inferior and medium, 1b 5d to Is 6£d per bushel, sacks extra. . , Wheat—There is little appreciable change in this market, and millers are content to limit their purchased to any choice lines that may suit their require-, ments. Prime velvet has most inquiry.’ Many holders are not inclined to accept present values, and tho market is now steady at late rates. Fowl wheat has little enquiry for export, and present values are only being given for local consumption. Wo quote:—Prime milling 3a. to 3s Id, medium milling 2s IQd to lid, whole fowl wheat 2$ 8d to 3s 9RI, broken and damaged 2s 3d to 2s 7d per bushel, sacks extra.

Chaff.—Consignments during the past week have been fairly heavy,' and prices i*ave again easeu. Bright, heavy, and well-cut chaff has a fair sale on arrival. Medium and discoloured chaff is, however, extremely difficult to quit at anything like a payable price to vendors, and a good deal of this quality of chaff is accumulating in local stores. We quote:—Prime -oaten sheaf ,£3 to £3 2s 6d, medium oaten sheaf .£2 10a to JO2 17s 6d, light and inferior £2 to £2 7s 6d per ton, bags extra. Potatoes—Whit© varieties, suitable for seed have some inquiry. Consignments of Derwents continue to arrive freely, but if in good -order are saleable at late rates. We quote:—White varieties .£5 to £5 10s, prim© Derwents £4 10s to £A 15s, medium £3 15s to £4 5s per ton, bags in.