COMMERCIAL.

Oamaru Mail, Volume XXXVI, Issue 11684, 13 July 1912, Page 3

COMMERCIAL.

HOME MARKETS. [By Electric Telegraph—Coptrioht.] (Per Press Association.) Received July 12, at 8.10 p.m. London, July 12. Wheat is very dull owing to fine weather in Europe. American: and Australian cargoes have sold at 40s and 41s, but there is no demand for cargoes. 40s 9d is asked for New South Wales (March shipment), 40s 3d for April shipment, 41s for South Australian (March shipment), 39s 6d for June, 40s 3d for Victorian (April shipment), and 38s 6d to 39s for parcels afloat. Australian, on spot, is quoted at 41s 6d. Flour is dull. Australian sells at about 28s ex store. Oats are firm. La Plata, June-July shipment, 16s 3d. Barley is inactive. Beans and peas are' steady, but with unchanged prices. Butter is dull. Danish 120s to 1225, Siberian 100s to 104s, colonial nominal. Choicest Australian- 104s to 106s, unsalted 108s to 110s, New Zealand 112s. to 114s, unsalted 116s. ■' Cheese is dull. New Zealand white" and colored 68s. • Bank of England returns: Stock of gold and coin £38,928,000, reserve £29,262,000, proportion of reserve to liabilities 50.23, in circulation £29,262,000, public deposits £17,892,000, other deposits £40,355,000, Government securities £13,984,000, other securities £33,604,000. The bank rate is 3 per. cent-. Short loans are quoted at 2£ per cent. Three months' bills are' discounted as follows: London 2 15-16 per cent., Paris 2} per cent.. Berlin 3} per cent. Consols, £75 12g 6d. Colonial Government stocks: Victorian 3's £B2; Queensland 3's, £B2; South Australian 3's £79; Tasmanian 3i s £93. Other stocks unchanged. Copper. —On spot, £73 4s 9d; three months, £74 Is 3d. ■ - •- Tin.—On spot. £203 l° s ; thrae ■months, £l9B 10s. Leal, £lB ss. Spelter, £26 2s 6d. Iron, 56s lOd. Wolfram, 2Ss 6d. ' Sugar. —German, lis 6g; first marks, 14s lOd. , ;. The Bradford wool market is vei y strong. Quotations: 64's 27Jd, super common 60's 25Jd. 56 s 21., d, 50 s 18Jd, 46's 15d, 40's 14d. At the London wool sales the followin" prices were realised for the fleece po*rtions of the clips named: Glencoe, top price Hid, average 9d; Atawhai, top 12 jd, average 12d.

Received July 13, at 0.15 p.m. London, July 12. The best selection ot merinos of the series was offered. Average sorts realised 5 per cent, advance on tbe opening figure, and best wools were firm.

CHRISTCHURCH MARKETS. CPeh Press Association.) Chr istchiirch, July 12. The local grain, markets are in a very dull state, which- the break in the weather ihae not tended to alleviate. There is practically nothing changing haJids beyond a limited turnover between merchants. No improvement is looked for until some export business can be done. The only movement is inpotatoes, the market having lurther firmed. This is due to shipment to 'Australia from the south, and to an improved demand from the North Island. The wet weather has also a finning effect upon tlie market, as it wilt delay deliveries. The price now paid at country stations is £4 per ton. DUNEDIN PRODUCE MARKET. Messrs T. E. Shiel and Co. report as follows for week ending July 12th: Chaff.—The market is still very «asy. Black oat £3 10s, white oat £3 5i to £3 7s 6d, medium up to £3. Straw. —Wheaten 36«, oaten 30« to 355. Turnips, £1 per ton. Ryecorn, £2 10a per bushel. Potatoes. —The market ia much firmer, the price being £5 to £5 10* per *°Oata.—Duns and Danish, Is 10d; Gartons, Is lOd to Is lid; sparrowbills, Is lOd on trucks at country sidings. Fowl wheat.—This is offering vary freely and is worth 3a on trucks. Pollard, £6 10s per ton. Bran, 95ft. „ . Hay. —Prime clover /0» per ton. Carrots, 45s per ton. Onions, £9 per ton.

DUNEDIN MARKETS. (Otago Daily Times.) There is 110 improvement to report in the local wheat market since last week. Buyers are exercising extreme caution in purchasing,- some millers not operating at all. Offerings hare been light throughout the week, it,being evident that farmers are not at all anxious to push their wheat upon the market, thev being, no doubt, of the opinion that there must be an improved, demand, for good hard wheat in the spring. Values may be as ruling the same as last week- —namely, 3s 7ci to 3s 7id for mixed lines, and for straight lines of prime velvet 3s Bd. These prices are on trucks north, within 80 to 100 miles of Dunedin. There appears to be •no wheat offering from the south that is in a fit condition to mill. Fowl wheat is more plentiful, and the price for good whole now rules at 3s 4d to 3s sd, ex store, Dunedin; medium, 3s 2d. to 3s 3d, sacks extra. The tariff of the Flourmillerr Association for flour and other lines is as follows: Flour —Sack®, £8 los; .1001b bags, £9 • 501b bags, £9 ss; 2olb bags, £9 10s. Bran, £4 15s per ton. Pollard, £6. _ Oatmeal, £l3 10s. Pearl barley, £lB 10s. , „ There is a slightly better feeling- in the local oat market, but this notwithstanding very little business is transpiring. A small inquiry has Set in from Australia for forward delivery up to the end of the year. The different# bstween buyers' and sellers' limits, however, has practically stopped any business being done in the meantime. Ther« is no inquiry from the North Island. Onlv a few small lines have been coming" in from the country during the week, and it is therefore hardly possible to ouote a fair basis of values to first holders. Merchants are quoting 2s 4d, f.0.b., sacks in, for A Gartons, and 2s 3d to 2s 3§d for B Gartons and A sparrowbills. The Australasian of July 6 says:— "Oats: The. more moderate arrivals from New Zealand and the knowledge that the bulk of- the • supplies brought from New Zealand are now in store has caused a steadier tone to be felt. Cheap lots are now less prevalent, it being understood that a fair parcel has been placed for transhipment. At the same time local traders are evincing but little inclination to buy, and business is more or less at a standstill. B Gartons have been sold at 3s 2Jd, duty paid, while some sellers ask 3s 3d, with another Jd for A grade. Danish are worth 3s 2fi, Algerians are rather scarce, good feed being valued at 3s 54d, good to primo seed at 3s 8d to 3s 9d, and distributing lots up to 45." Prime chaff still meets with a ready sale, but there is not "much of this quality coming forward. Inferior quality is in over supply, and samples are very hard to quit. Owing to the heavy shipntots of potatoes this week to Sydney by the Waihora and the Moeraki values show a sharp increase. Indications point to the fact that prime tubers will be very scarce before the new crops «rriv« oil the market, as reliable authorities are agreed that the return this year will be much lower than last season on account of the very wet summer and autumn, which has kept the ground in a water-logged condition most of the season and rotted out a lot of the tubers.

THE TIMARU MARKETS. (Timaru Herald.) The bottom has temporarily dropped out of the local grain, markets. Very little grain is offering, and there are practically no sales. Cheap freights seem as far off as ever, and this is preventing a lot of shipping business which would otherwise be done. Some wheat has been sent Home in the Zealandic at a 25s freight, but merchants generally are not disposed to ship at such a freight. Only nominal quotations can be given to-day—3s 6d to 3s 7d for Tuscan and Rod Chaff, aud possibly 3s 8d for grime Velvet, delivered Timasu.

Oats are also very dull of sale, values being Is 9d to Is lOd for B grade, and up to Is lid for A grade, country stations. Oatsheaf chaif is offering freely., but only prime lines can be sold. These are ivorth £3 per ton, at country stations. The potato market has eased back for all but prime lines in new sacks with Government grader's certificate; — lines fit for shipping. These are worth up to £4 5s per ton; other lines are worth £3 to £3 ss. Some tubers shipped from Oamaru were rejected at Melbourne. : ST; ANDREWS SALE. The: fortnightly sale was held at St. Andrews' saleyards yesterday, when, owing to -the inclement weather only a few pens came forward. ''Fat lambs sold up; to 15s 6d; store lambs, (small) 13s 3d - 2 4, 6, and 8-tooth ewes, to 21» 6d; milch'cows, £6, £6 ss, £7 16* to.£lo 15s; dry cows, £4 17s. PROPERTY SALES. ■ Messrs J. D. Familton and Sons report the private sale of section 22, block 17, Nen street, to Mr Austin, at a satisfactory figure; also, in conjunction with Messrs Wright, Stephenson, and Co- (Ltd.), Mr James Halkett's 198 acre farm at Ngapara. to Mr Love, of Omihi, Canterbury. The same firm reports the sale, in conjunction with Messrs • Darling and M'Dowell, of Mr J. Hutton's l.i.p. of 140 acres, situated at Island Cliff, to Messrs Andrew Watt and Son, of Kakanui. The firm report a good demand for small farms and grazing properties, and ready buyers are found for suitable properties.