COMMERCIAL.

Oamaru Mail, Volume XXXVIII, Issue 10505, 13 July 1910, Page 4

COMMERCIAL.

TAX ON HIDES. [By Electric Telegraph—Copyright.] (Per Press Association.) Received July 13, at 8.55 a.m. Melbourne, July 13. A deputation representing the producing interests of the Commonwealth submitted to Mr Tudor an objection .to the. proposed export duty on hides and skins, and. urged that it would cause an annual loss to growers of £300,000. Any export duty on primary products was worthy the dark ages. Mr Tudor, in reply, said that practically the whole master tanners of the Commonwealth' had asked for the tax He promised that the Cabinet would give the subject consideration. RIVALS IN THE MIL AT MARKET. (.By Electric Telegraph—Copyright.] (Per Press Association.) Received July 13, at 9.40 a.m. London, July 12. A new company is being formed to. employ nine steamers of the more modern type in the frozen meat trade between here and the River Plate. SHARES MARKET. [By Electric Telegraph—Copyright] - (Per Press-Association.) Received July 13, at 11.5. a.m. London, July 12. i Bank of New Zealand, buyers £lO, sellers £lO 10s; New Zealand Loan and Mercantile debentures, 95. LONDON WOOL SALES. [By Electric Telegraph—Copyright.] (Per Press Association.) . i Received July 13, at 11.5 a.m. London, July 12. The wool sales opened remarkably brisk. Merino and greasy crossbreds are practically unchanged. x (Per Press Association.) Wellington, July 13. The following cable has been received from the High Commissioner concerning the wool sales, dated July 12. The wool sales commenced with good competition, Home and Continental buyers buying freely. Trade is good, though American buyers are holding off. Holders are firm on account of the moderate supply. 89,500 bales of NewZealand wool are catalogued. Merinos and> .fine-crossbreds of' all grades are selling at „ about the same as closing rates of last- sales. Medium and coarse crossbreds are about a farthing lower. The closing rates for the May sales as cabled by the High Commissioner were as follows: —Superior merinos Is Id, Is 3.Vd; medium merinos, IO.Vd, Is ' 0-id; inferior merinos, Sd to 10d-; inferior crossbreds, Is lid to Is 4d ; medium crossbreds, lid to Is Id; coarse crossbreds, Bid to 10id.

STUD HORSE SALE. Messrs Wright, Stephenson, and Co. report having sold on account of Mr John F. Reid, Burnside Stud! Farm, Elderslie, Oamaru, two high-class yearling Clydesdale entire colts to Messrs Thomson and Co., Wairongoa Stud Farm (Taieri), at a good price. FROZEN MEAT MARKET. The Colonial Consignment and Distributing Company, Limited, report as follows on June 5: — A further sharp advance in the value of beef of all descriptions has engaged the attention of the public as well as of those interested in the trade. The position is generally attributed to the scarcity of beef, the reduction in the importations of live cattle and the decrease in the export of chilled beef from the United States being the principal factors contributing to the said scarcity. _Thc high prices are proving disastrous to the small retail trader, and numerous shops are closing down. A certain class of traders, comprising a large number of those who deal in frozen meats, are quite unable to advance their prices to the public beyond a certain limit. The position recalls that which existed during the Chicago strike in 1904. ■ Mutton has mot a very dull enquiry until the last few days, when the dcarness of beef and lamb has diverted some attention to it. The prices for Home-grown sheep are very high, but frozen mutton continues cheap. New Zealand Mutton.—The Devon with 1036 carcases and Star of Australia with 30,283 carcases have arrived. This meat is moving a little more easily and values are firmer without showing much quotable change. Under the influence of dear heef and lamb a small advance may be established. Frozen Lamb. —Receipts comprise 126,847 carcases from New Zealand, 12,723 carcases- from Australia and 33,006 carcases from South America. The demand has heen very satisfactory and stocks have never been allowed to accumulate. A further advance in values has been established. Prime light Canterburys are now worth 5Jd per lb, and the same grade of North Islands SJ-d per lb. Australians are not much in evidence and are quoted at 5d to 5Jd per lb. Frozen Beef.—Although the arrivals amount to 13,215 quarters from New Zealand, 2514 quarters from Australia and 61,250 quarters from South America, stocks are very limited and prices have moved in sympathy with other beef to an extremely high level. The tendency at the close is not quite so strong, as it was found that quotations were proving prohibitive to business, lint values appear likely to rule high for some little time.-