COMMERCIAL.

Otago Daily Times, Issue 16199, 8 October 1914, Page 4

COMMERCIAL.

Tho reports that are published this morning respecting the wool market, in London are of particular interest in view of the fact that tho sales which havo just opened are tho first sinco tho war started. Although it is difficult ,to forecast tho trend of the market, it is not reasonable to expect that tho increased prices for crossbred will bo maintained at their present high level. At this time of the year there would bo re'ativcly a small quantity of wool available, and with a strong demand on acooiwj of tho requirements for tho army, prices have evidently been forced up to abnormal figures. When tho weight of tho coming season's clip is felt on tho London market, prices for orossbrcds may bo expected to recede.

LONDON METAL MARKET. Press Association—By Telegraph—Copyright.

LONDON, October 6. (Received Oct. 7, at 10.50 p.m.) Silver, 24d. Copper: Spot, £56 ss; three months, £56 15s. WAITAKI DAIRY COMPANY. The following annual report has been issued to the cream-suppliers by the Wjutaki Dairy Company:—The season's operations have been successful and satisfactory in every way. The cold, wet spring was more tnan compensated ior by the good autumn, so the average returns for tho year were high. The output of the two factories (Oamaru and Dunedin) reached 500 tons—a record, being 200 tons Aioro than tho previous year, which speaks well for tho popularity of tho introduced by the company. We sold a largo proportion of our butter on the local market, and exported the balance. All reports on quality—locally and at Home —were excellent, and we realised top prices throughout. The strike in tho early part of the year caused a little inconvenience, and was apparently responsible for prices of New Zealand produce dropping to a low figure of the London market. In spite of these drawbacks we paid a record average price for butter-fat, namely, 12gd per lb for the year, which is a fraction higher than tho previous year, and the highest average price ever paid in Otago, in comparison with price of butter on the London market. A year ago we doubled the, capacity of our Oamaru factory, and this year wo were obliged to double tho size of our Dunedin factory, to cope with tho continually growing business. The prospects for the coming season are good. Wo do not expect any difficulties from the war in marketing butter, and we anticipate that prices generally will be well maintained. Large numbers of new suppliers are starting, or have started, and old ones are mostly increasing their herds, so that wo expect a further large increase in turnover this year." HIDE SALE. Messrs Wright, Stephenson and Co. report as follows: : —We held a very successful sale of butchers' abattoir hides on account of The Otago Co-operative Tallow and By-Products Co., on Wednesday, before a full gathering of those interested in the trade. Particular attention was paid to medium and light weight ox and cowhides, and these descriptions commanded extreme rates. Our highest prices -were:—Ox, 8d; cows, 7gd; and calfskins, lOijd. Our best gross returns at per hide were '£2 12s 7d in ox, and £2 Is 4d in cows. A E,ew of oui* best sales are:—Oxhides: Seven 651b, 8d; throe 711b, 8d; four 651b, 7|d; three 411b, 7fd; seven 471b, 7|d; one 491b, 7gd: nine 571b, 7|d; eight, 561b, 7gd; 12 561b, 7|d; 15 621b, 7|d; four 491b, 7|d; 10 451b, 7|d; 12 631b, 7|d; 11 561b, 7|d; 12 561b, 7J; 14 561b, 7|d; 13 531b, 7fd; four 601b, 7|d; .15 541b, 7fd. Cowhides: 13 481b, 7id; one 671b, 7|d; three 561b, 7fd; eight 361b. 7|d; i2 451b, 7gd; 16 441b, 7»d; 13 531b, 7|d; nine 431b, 7fd. We quote: Stout heavy ox, to 8d; medium, 7|d to 7fd; light, * 7|d to 7§d; stout heavy cows. 7|-d to 7gd; medium, 7fd to 7|d; light, 7|d to 7Jd; yearlings, to calfskins, to 10id.