COMMERCIAL

Otago Daily Times, Issue 17936, 15 May 1920, Page 8

COMMERCIAL

Daily Times Offico, Friday Eveiung. Recent cable#tnoeoagea reoeived through private souroije in rogard to the world's wheat position aro decidedly 'significant, (says tlvj Australasian). It is notable that Europe in general is increasing Ilia uao of admixture in the manufacture of lweadstuffa, and, although wheat erupplies may be sufficient until next eoason, economy appears to bacomo essential. This may bo duo to two re-aeons, one that reserves in exporting oountrie© may not bo so groat as anticipated, and that caution is necessary in view of the crop prospects of th© present season, or that, us vendors nsk a high prioo, whioh ia increased by the advoree exchange rates applying 1 to Europe*, recoairee to the use oi rye, maize, and barley is not only neoeeoa-ry, but tho cost probably is lees to the importing nations. The opinion expressed in regard to future prices for wheat is important. Recently, when tho British Government proposed to guarantee wheat .farmers in Great Britain a maximum of 100 a per 5011b, general dissatisfaction woe shown, in view of the high prices paid for foreign wheat. This indicated aJeo that the ' u^ ll ) ro was considered to promise high prices. The growers throughout Australia are being urgsd to increase the acreage under wheat. LOOM. MAIIKEfTS. The bulk of the whoat has been _ harvested, and only odd lilies are now offering. Local millers are short of supplies, and are looking to Canterbury for further parcels. Fowl whoat is very scarce, and poultry growers are turning their attention to short oats. The local Government fixed prices for May are as follow:—Velvet or pearl, 7s lid; Huntors, 7s 3d; Tuscan, 78 sd—all f.0.b., &ack.3 extra (the prices include lid per bushel brokerage). Millers' prices are as follow: —Flour, £16 10b to £17 pei ton; 100'e, £18 to £18 10s; 60's, £18 10s to £19; 25'b, £19 10s to £». Bran, £8 per ton. Pollard, £10. Pearl barley, £35. Oatmeal, £31 to £83 per ton. After a long period cf quietness the shipping market for oats has become more active, and several sales have been made during the week. For prompt shipment 5s lOd. f.0.b.e.1., lias been realised, and merchants are «ow asking 6s lid to 6s. North Island merchants aleo seem anxious to cover forward deliveries, May onwards, and there are buyers to-day at 6s lOd to 6s IOJd, f.o.b.s.i. Shipping values are now equivalent to prices being paid to growers, who have been firm holdfers at 5s Id to Ss 2d ner bushel, sacks extra, on trucks, country sidings. PRODUCE REPORT. The demand for potatoes is small, and the tendency of prioes is downwards. Fair consignments are coming to hand, and the hulk of these are being stored in the meantime. Good quality is to-day worth £7 10s to St 15s; medium is selling at from £6 10s to £7 per ton (all sacks included). North Island merchants are inquiring for obaff, but so far no business has been reported locally owing to lack of shipping space. Merchants are asking £11, f.0.b.5.i., for forward delivery, but tile highest price being offered is £10 10s. Tho local market is well supplied at present with consignments. The present quotation is £8 5s to £8 10s per ton, sacks extra, ex truck, for the beet quality ohaff. Medium is in poor demand at £6 to £7 per ton, sacks extra, cx store. The incoming holiday week has caused a very keen demand for eggs, prices for which rule very high. Current wholesale prices are as follow:— Fowl wheat, 8s 3d per buahel, sack® extra {very scarce). Chaff: Prim© oaten sheaf, £8 5s to £8 10b; medium, £6 to. £7. Potatoes, £7 10s to £7 15s; medium, £6 10s to £7 . Onions, lis 6d pervewt. Eggs: Stamped, 39 6d; ordinary, 3s sd; preserved, 2s 9d. Butter: Milled, bulk, best, Is 5Jd to Is 6d; separator pats, to Is 5Jd. Margarine, to Is 9Jd per lb. Pigs: Parkers, 10Jd per, lb; baconsrs, 10a per lb—supplies equal to the demand. Bacon, Is 6d to Is 7d per lb. FRUIT REPORT. Hijavy supplies of apples and pears have come to hand during the week. Prices are rather irregular. Prices for grapes are well maintained. The Wanaka as due to-morrow (Saturday) from Auckland. She is bringing a smaJl consignment of persimmons, tree tomatoes, and passion fruit. Supplies of tomatoes have slackened off considerably. Outside-grown are practically finished. Local hothouso-grown are firmer in price. A fairly large- quantity of Island oranges has arrived on the market. A further consignment is due to-morrow (Saturday). Pie melons meet a sound demand. Supplies are plentiful. ' The demand for vegetables continues wenJc. Supplies oonsist mostly of cabbages and cauliflowers.

Current wholesale prioes are as fallow: — Dessert apples: Jonathan (Nelson), 5s Gd to Ga 6d per case; Otago Central, 6s to 8s; Cox's Orange Pippin, 7s to 9s; others, ljd to 2d per lb; cookers, lid to ljd per lb. Hothouse tomatoes: Local, Is 6d per lb; Christchurch, outside-grown, best, 5d to -6JA; others, 2ict to 3d; Otago Central, 3d to 4£d per lb.

Lemons: CSses 50b to 60s. Oranges: Islands, 20s to 245. Pears: Choice, 2d to 2Jd per lb; 7s to 8s per bushel ouse. Grapes: Oamaru Gros Colmars, la 3d to '2s 9d por lb; Black Hamlnirgs, Is 7d to Is 9d | for best; others, Is to Is 2d. Carrots: Bags, 2s Gd to 3» Gd; 9fl per cwt. I Cabhugo: Prime, to 4s per dozen; sacks, 2s to 3s Gd. Cauliflowers: Medium, 2s to 3s per dozen; choice, 6s to 8s per dozen. Passkma: Auckland, 5s to 6s; prime, 8s j to 9s. Lot,tuco, Is to 2a per ease. Potatoes: Peninsula, IJ<l per lb; Taicri a.Tjd Oamaru, 8s Gd per cwt. Peas, 4Jd to sf<t per lb. Table swedes, 5s to (is per sack. Vegetable marrows, Gs to 7s Gd per case. Ktrroeros, 2d per lb. LONDON QUOTATIONS. Pr«M Association—By Telegraph—Copyright. LONDON, May 13. (Reoeived May 14, at p.m.) Tho Bank of England returns show coin and bullion to bo £.111,992,000; reeervc, £19,058,000; proportion of reserve to liabilities, 1G.27. The notes in circu.lo.tian total £111,313,000; Government deposits, £21/123,000; other deposits, £99,404,000; Government eoourities, £38,455,000; other securities, £80,444,000. Short loans are discounted at 5| per oent.; throo months' bills, GJ por cent. Consols are quoted it £43 15s. Following aro quotations for Government stocks: War loins, £82 and £85 ss; Commonwealth sJ's, £95 15s, £3-2 17s 6d; Victorian 4's, £99 2s 6d; 3S's, £82 and £55 19a; 3's, £59. New South Wales 4's, £76; Si's, £62 153; 3's, £59 10s. Queensland 4's, £87 15s; 3J's, £81 and £94; tfs, £55. ; New Zealand 4's, £80 ss. South Australian 3J's, £67; 3's, £49 103. Tasmanian 3i's, £64; 3's, £61. West Australian 3J's, £70 ss; 3's, £68. Owinr? to the plentiful supplies of Homemade butter, multiple shop companies aro retailing it at 34d por pound, and consequently many retailors aro refusing Government allotments of butter which is mowf.ly blended and inferior to Homo-made. The trade anticipates an early reduction of the Government retail prioo, probably to 31d. Wheat.—Tho market is quiet. Small quantities of Australian just landed sold at 103s to Ills per quarter; ex ship, 102?. Flour is in steady demand, and, a fair quantity has bean [allocated. Oats. —The market is firm. La Plato, spot, 59a 3d. Beans.—The market ia quiet and unchanged. market is steady. Tasmanian, 26s per cwt. The sugar market is unchanged. At tho Liverpool wool sales there was a modem to attendance, with fair competition for good greasy combing merinos. Continental buyers were operating freely in faulty merincsand fine crossbred®. Tho price of fine crossbred 8 and best greasy merinos was on a par with London closing rate®. Medium greasy merinos declined 5 per cent., sooureds 5 to 10 per cent., and fine medium greasy cros©bredß 5 to 7£ peir cent. All law sorts were withdrawn. Scoured slipes were irregular, with heavy withdrawals cf low qualities. The Bradford market is quiet, but is more nettled. Sixty-fours 144 d; 66' c, 90d; 50's, 68d; 46'r, 41d.—A. and N.Z. Cable. FOREIGN EXCHANGE RATES. LONDON, May 13. Par. May 10. May 13. Paris fr.) .. .. .. 25.22 GO. ' 58 Stookbolm (kr) .. .. 18.16 18.08 18.15 Christiania (kr.).. .. 18.16 20.26 20.G0 Micmtreal (do!) .. .. 4.85 4.23 4.23J New York (dol.) .. 4.86 3.831 3.331 Calcutta (rup.) .. .. 10.11 24 26J AUSTRALIAN MARKETS. Press Association—By Telegraph—Copyright. MELBOURNE, May 14. Barley: English, 7s 3d, 7s 9d; Cape, 6s 3d, 6s 6d.' .Oats: Algerian, 5s lOd Gs. Potatoes, £12, £12 10s. Onions, £12, £12 10s. Hides: Top grades are unchanged in price, but medium and lower grades show id to Id per lb decline. CANTERBURY PRODUCE MARKETS. (Fir Ukitid Press asbociatiox.) CHRIS'SCHTraCH, May 14. There has been a strong movement in oats during the week. It is reported that business with South Africa has bean done through Australian sources, and this unexpected market haa given a stimulus to the position. North Island merchants are now operating to cover forward business, and possibly the South African opening has hastened their activities. Up to 5s lid, fx>.b.s.i. (equal to 5s 2d at country stations), has been paid during tho past few days, and generally, although the amount of business with farmers has been small, tho tone of tho market is healthy. Wheat "is continuing to come forward fairly freely, though the laok of trucks is hampering its delivery. Merchants say it is easily the worst year in this rtspect for many seasons.

Whoat is being held up all over the province for lack of trucks.

There is a firmer tone in the white clover market. Scarcity of shipping ia having a disastrous effect on the potato urarket. Merchants are disinclined to operate until stocks on hand aro got away, and any initiative is coming from tho growers tlioinsclves. Deals liavts taken place at £1, country stations, ljut there aa-ic quito a number at £:! las, and that about limits merchants' offers at present. The Kororniko, which sstils for Auckland at midnight, wus oouipelled to shut out from 30 lo 50 wapons of produce, a good proportion of which wore potatoes, on account of insufficient labour. Thoro is a good margin for North Island Iniwncf*? on local quotations if shipping were available. AMERICAN FUR MARKET. Mr R. S. Black, Now Zealand agent for Funsten Brothers and Co., has received the following cablegram from that firm at St. Lotiia, U.S.A., whero a fur salo is in progress:—"Alaska sealskins (dressed, dyed, and machined on account of the United Stntos Government), 23 per cent, lower than in. February; raw sealskins on aooount, of tho Japanese Government sold satisfactorily, there being none in the previous aale for comparison ; broadtails 568, none in previous Kilo for comparison; Persians find Shirafl 17.0T0, the inferior collection sdling poorly; Fislicr 1500, 25 per cent lower thnn in February, collection not gcrxl as that gold in February sale; iraarten 14,000 mostly Stato and coast, 30 per cent, lower than in February; bauni marten 2500, 25 per cent, lower than in February; 6jone marten 6000, 25 per cent lower than in February; badger about 20 per cont, house cats about 30 per'cent., blue fox about 35 por cent., white fox 27$ per cent., cross fox about 25' per cent., squirrels about 20 per cent, lower than in February." Frascr and Co., auctioneers, produce merchants, commission agents, and agents for tfae Otago Egg Circle, 146 Crawford Etrect, report:—Eggs: Market firm; fresh, 3s sd; Egg Circle eggs, 3s 9d; preserved eggs (alow sale), 2s 9d to 3s. Butter;, lib pots, separator, Is sd; milled bulk, Is s id. Pigs: Good bac?<n weights, lOJd; porkers, lOd to 101 d; overweights, 4d to Ed per lb according to sizo and quality. Tallow, 45s to GOs por owt. Honoy: Good bulk wanted, 7Jd to 8d per lb; 101b tin®, 7s 6d to 8s; sections, Sd to 9d. Beeswax, 2s 4d to 2s 6d por lb. Canterbury onions, lis pear cwt. Potatoes: Market easier, at £8 per ton for becrt quality; medium, from £6 to £7 per ton. Triumph incubators: 125-egg, £14; 2oU-cgg ; £18; 375-egg, £22 10s; 500-egg, £28. Poultry: Wo held out' usual salo at our rooms on Wednesday, when the following prices were realised:—Hens, 40 at 4«, 05 at 4s Sd, 30 at 4s lOd. 100 at 53, 20 at 5s 4d, 10 at 79; 10 roosters at 4s; cockerels, 10 at 4s, 12 at 4s Bd, 7 at 4s lOd, 28 at ss, 10 at 9®; ctucks, 39 at Cs, 28 at 03 4d, Bat 7s. 14 at 7n 4d, 7at 7s "Bd—oil at per pair. Turkeys: Hens, 10 at Is 2d per lb; 33 gobblers at Is 4d par lb, live weight.