COMMERCE AND MINING

New Zealand Times, Volume LI, Issue 11734, 23 January 1924, Page 12

COMMERCE AND MINING

SALES IX OTHER CENTRES. l’or Press Association. AUCKLAND, January 22. Sales on ’Change :—National Insurance 7Ss fid; Wilson's Portland Cement, 30s 6d; Vuilii, 30s. Sales reportedßank of New Zealand, 50s; Soldiers' Loan, Inscribed, .£lOl 12s tid. Sales: —Soldiers’ Inscribed, <£lol 5s Sri; Bank of New Ztaland, 50s; National lulurance, 78s (Id; Auckland Gas, 265; Wilson’s Cement, 30s 6d: Waihi, Site; Grand Junction, 6s 4d. fid 6d CHRISTCHURCH, January 22. Sales reported.—Christchurch Gas, JlB Is; Bank of New Zealand, 50s; Union Bank, X ll ISs (throe parcels); Dalgetys, <£l3 ss; Howard Smith, 52s 3d; HuddartParker, 42s 9d; Crown Brewery (cum div.\ 61s 6d (three parcels); Ward’s Brewery, 41; 3d; Wilson’s Cement, 30s 2d; Bums, Philip, 32s 6d (two parcels;; Manning's Brewery, 26s 6d. Sales on ’Change.—Manning’s Brewery. 2Gs Id. DUNEDIN, January 22. Sale.—Wilson’s Cement, 30s 3d Reported sales.—Bank of New Zealand, 60s; New Zealand Drug Co., 665. MOUNT LYELL MINING COMPANY. Following is the progress reiiort for the fortnight ended January’ 9th, 1924: Mount Lyell Mine—Breaking pyrites in progress above base of open cut—tons extracted, 353. North Mount Lyell Mine : Breaking ore in progress—tons extracted, 3163; 7000 ft level, north drive, advanced to 233 ft through grey schist; 850 ft level, No. 12 winze, sunk to 16ft through ore or excellent grade. Reduction Works. One furnace in blast for 4 2-3 days of the period; 1943 tons of blister copper consigned to refinery for the current year. Concentrator: The mill operated 228 f hours, and treated 2953 tons of ore, producing 520 tons of flotation concentrates and 508 tons of jig concentrates. CRAND JUNCTION MINE FOUR WEEKS’ CRUSHING. Per Press Association. AUCKLAND, January 22. The Grand Junction mine, for the four weeks ended on December 29th, crushed 4590 tons of ore for 1890 ounces of gold, and 2377 ounces of silver, equivalent to a return valued at JJ8177. BRADFORD WOOL A STRONG MARKET. Australian and N.Z. Cable Association. (Received January 22, 7.15 p.m.) LONDON, January 21. Bradford, wool shows a strong market, topmakers quiting higher prices for all qualities. Spinners are not responding. METAL MARKETS RULING QUOTATIONS Australian and N.Z. Cable Association. (Received January 22, 9.10 p.m.) LONDON, January 22. Copper—Spot, 8s 9d; forward, ,£62 3e 9d. Lead —Spot, <£32 2s 6d; forward, «£32 2s 6d. Spelter—Spot, X3o 12s 6d; forward, <£34 7s 6<l. Tin—Spot, .£252 2s 6d; forward, .£233 10s. . Silver, 33 11-16. MEAT AND DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house, under date 18th instant—- “ New Zealand frozen meat —No change in market. "New Zealand dairy produce—Butter, choicest salted, 2086 to 212 s per cwt. Cheese, 102 s to 106 s per cwt. Markets steady." TIOME MARKETS. TALLOW SALES. Messrs Booth and Co., Christchurch, report: Our London house reports by cable that at the tallow sales, held on the 16th, 679 casks were offered and 635 casks sold. Inferior grades were in good demand, and brought 2e per cwt advance; others 6d higher. Stocks on January Ist ■were reported as 4333 tons, being the smallest since December, 1922. Arrivals during December were 944 tone, and deliveries 3123 tons. FROZEN MEAT MARKET. Messrs Levin and Co., Lt<L, have received the following cable from their London agents, dated January lttth, 1924: Quotations: —New Zealand prime Canterbury lamb, 281 b to 421 b, IDJd; North Island lamb, 28lb to 421 b, 10£d; prime Canterbury mutton, 561 b to 641 b, none; North Island mutton, 561 b to 641 b, 8d; ewes, 481 b to 641 b, 7d; New Zealand prime ox beef, 1601 b to 2201 b, hinds 4d, fores 3Jd. These prices are ex store. As compared with last week's quotations, lamb is 4 of a penny dearer, fores of beef are one farthing dearer. The market is quiet, with very little inquiry.

WOOL SALE HIGH PRICES OBTAINED. ADVANCE ON DECEMBER PRICES. Per Press Association. CHRISTCHURCH, January 22: The wool sale was concluded at 11 o'clock on Monday night. The keen competition that marked the opening on Saturday night was continued, and only odd lots failed to come up to vendors’ reserve. The sale was a record for the infrequency of passings. As on Saturday the strongest end of the buying market was the Bradford, American buyers, and local mills, except for the choice-i w< :.|s, whirl: were scarcely 30 pmmin-M as on Saturday, but Continents! eomnetition showed no slackening. AH round the advance on December prices was from 2d to 2pl on fleece wools and slightly more on best pieces. The top prices were, merino 321 d, half bred 30jd. Corriedale 29}d, crossbred 23pi, and Corriedale pieces 29d. The following is the range of values:— ■ Merino, extra super, up to 32Jd; super, 28pl to 301 d; medium, 26d to 28d; inferior. 22d to 25Jd. Corriedale, extra super, up to 29$d; super. 26id to 28Jd; medium, 23Jd to 26d : inferior, 20d to 231 cl. Halfhred, extra super, up to 301 d; super, 26pl to 28Jd : medium, 231 d to 26d ; inferior, 19d to 231 d. Three-quarterhred, extra super, up to 26M: super, 10pi to 231:1 ; medium, 17W1 to 191 d; inferior, ]44d to 17d. Medium crossbred, extra super, up to 23p1: super, lkpl to 21d; medium, 2Gd to _ 28d; inferior, 13L1 to 153 d. Coarse crossbred, super, laid to 17Jd; medium, 13U1 to lapl; inferior, 12.L1 to 13Jd. Merino, pieces, 22d to 253 d, Ifalfhred pieces, firsts, 23Jd to '271:1; seconds, 19<1 to 23d Corriedale, pieces, firsts, 23d to 29d; Crossbred pieces, firsts, 131 <1 to 17jd; seconds, Ild to 13}d. I.nclcs. merino, 12d to ltd; balfbr-d, 10il to 13d; erossbred, B',d to lOd. Bellies, merino. 17d lo 2?}d; halfbrjd, 15d to 22d. k’rutehings, good, ll.pl to ltd; medium. lOd to ll*d.

CANTERBURY MARKETS ACTIVITY IN SEED LINES. Per Press Association. CHRISTCHURCH, January 22. The grain and seed market continues to be marked with a good deal ol activity, .seed lines particulaxly being the subject of inquiry. Cocksfoot is still tending upwards and Is Id lias been paid for standard seed and up to lOid has been refused for undressed seed at the bays. Later reports in regard to the bays crop confirm the previous forecasts of a light crop. Ryegrass continues veiy firm, out more Js now offering. From 6s 3d to 6s 6d for Italian perennial and western wolths covers the quotations. "White clover, is in more active demand, and is worth from Is 2d to Is 4d to farmers for good average sample. Cowgrass has been quiet under the weight of the carry-over from last season. m Wheat samples are now commencing to come in and generally the sample is bright and clean, with a remarkably small proportion of broken wheat. There is a keen desire to purchase and there has been a rush for fowl wheat at up to 5s 7d f.0.b., but since the announcement that the Government, will permit supplies to be imported the inquiry has eased off. Oats are again firming. They had dropped back to 3s 9sd ! per bushel, but have recovered to 3s lid f.o.b The quotations to farmers are 3s 6d per bushel. There is a strong inquiry for Algerians for autumn sowing for green feed. Machinedressed clipped seed has sold at 5s 6d per bushel between merchants and up to 4s has been declined for the new season's crop.

Lhaff is in very keen demand and for Apnl-September delivery up to <£7 17s 6d 1.0.b.5.i., has been paid. Stocks in store are negligible, and for prompt delivery supplies are difficult to obtain. Lhe new season's barley is on tlie mar* ket, but brewers are not yet operating. Potatoes are a shade weaker, sales having been made at ,£5 12s 6d per ton 1.0.b.5.i , for the main crop delivery, •which is equal to about £1 5s per ton on trucks. dairy produce PRODUCTION STIMULATED. AUCKLAND, January 19. . 4he production of butter and cheese } n Au° klagd province has been stimulated with the commencement of the New Year. During the first fortnight of this month, 81,668 boxes of butter were received for grading, compared with 79,732 boxes for the corresponding perio 1 of last year, an increase of 1936 boxes, lheee figures indicate a rather remarkable recovery, aa the December returns showed a deficit of 12,247 'boxes compared with those of December, 1922. A great recovery was made during the week ended January 14th, when the receipts were 44,018 -boxes against 34,184 boxes for the corresponding week of Jahuary, 1923, an increase of 9834. The receipts at the end of December and the beginning of January are not always a reliable guide as to tbe production, as butter and cheese are held longer at the factories owing to the holidays. The large apparent increase during the second week of this month, therefore, may not represent the actual position. The fact that the advance was so substantial and that it followed fairly general rains throughout the province suggests, however, that the freshening of the pastures has resulted in an increased milk production. The total quantity of butter received for the season to January 14th was 807,084 boxes, compared with 850,585 boxes for the corresponding period of last season, a decrease of 43,501 boxes. The Quantity of cheese received for the season to January 14th totals 93,813 crates, as against 45,551 crates for the similar period of last season, an incrase of 47,262 orates.

PRODUCE MARKET LOCAL MARKET REPORT. Messrs Laery and Co, Ltd., Wellington, report wholesale prices of produce us follow : Peameal, J.D 10s per ton; Whcatmeal, .£ll 10s per ton; linseed meal (Moose brand), 18s 6d; linseed nuts (Moose brand), 16s fid; meat meal, for poultry, 15s 6d; grit, 6s per 1001 b; fowl wheat, choice whole 5-sack lots or over 6s lod, lesser quantities 7s per bushel, sacks Is Id; shelled oats, for chickens, 6s per bushel; mixed fowl feed, 5-sack lots or over 5s 9d, lesser quantities 6s per bushel, sacks in; oats, machine dressed seed Algerians 6s 2d, feed Gartons 4s 7d, crushed 4s lid, Sparrowbills, 4s 7d, seed Gartons, 4s 8d to 4s 9d per bushel, sacks in; peas, feed, 5s 3d, Prussian Blue 8s; Partridge peas, 7a fid per bushel, sacks in; maize, whole 6s Sd, crushed 7s; butter, farmers’ separator and dairy, Is 3d to Is 4d. per pound; eggs, first grade, new laid, Is 5d lo Is 6d, storekeepers’ lines Is 4d per dozen; fowls. White Leghorns, 4s to ss; Black Orpingtons and similar heavy varieties 7s to 7s fid per pair; ducks, runners, good 8s to 9s per pair; inferior 6s to 7s, large white, 10s to 13s pair; turkeys, Is 3d to Is 4d per pound; geese, 10s to 12s Dair; fungus 7d to 8d lb; rock salt. Gs 6d per cwt; dressed pork, 60’s to 90*s, fid to 6Jd per lb; chaff, oaten sheaf, Blenheim prime, £9 15s per ton, sacks in; straw chaff, for chicken or cowfeed. .£6 15s per ton, sacks in; new" potatoes, choice white, 9s to 11s per cwt; bran, half ton lots or over. JS7; pollard, half-ton lots or over, ,£8 15s per ton; sucrosine, Jill per ton.

FE.ILDING SALE Palgety and Co., Ltd., Palmersron North, report having a very fair entry of sheep and a moderate yarding of cattle at their Feilding Sale on Friday, the 18tli instant, all of which changed hands at prices as below: —Small o.f. lambs 7h 6d, Bs, 9s to 10s, medium b.f. lambs 13s, small w.f. Jambs Ss to ,9s, fair w.f. lambs 10s to 11s, best shorn rape lambs 18s 'ld, low condition 4 and 5-year awes 10s Bd, 4-tooth to 5-year ewes 16s lid to 20s 4d, small 2-tooth ewes 20s Jd, fat 2-tooth 26s fid to 26s 7d, fat shorn lambs 22s 2d, fat ewes 18s fid, 20s 8(1, 23s to 23s 6d, potter bulls to JB4, 2-year s.h. heifers 37s fid.