COMMERCIAL.

Otago Daily Times, Issue 18050, 25 September 1920, Page 8

COMMERCIAL.

Daily Times Office, Friday evening. Important ndvico respecting wheat and (lour control abroad was contained in private, lottors from London to Australian millers by tho latest English, mail. Ono report said: \Vith tho wheat and flour trades in the IT.S.A. decontrolled and practically certain that Canada will also bo decontrolled, wo think tho timo is coming to kcop in closer toucdi with ono another. It is also thought that the British Royal Commission on Wheat Supplies -will ranko their purchases this sido through tho flour importers. Wo emcerely hopo that you aro drumming it woll into your Govornniont officials that other countries aro inclined to foster their millers. This is especially tho case with tho U.S.A., who realise tho benfit of wheat offals for tho dairy farmer. It is, in fa-ct, stated that tho United! States will go t*> far as to not permit Europe- to buy an undue portion of wheat, for one reason to keep their mills working at home, and also to keop offals in good supply." LOCAL MARKETS. There is little business passing in lines of wheat, either for milling , or eetxl. A few lines of B grade Gnitons changed hands oarly in tho week at -Is 4£d, f.0.b.5.i., and there aro more buyers at this figure. Holders, however, aro now asking 4s 5d to 4a Gd. Inquiries aro chiefly from Canterbury merchants, who we desirous of covering forward solos. According , to advices from tho North Isknd, sufficient stocks aro held for immediate requirements. Tho demand for seed oats has fallen off, arid growers have now evidently secured tho quantity they require. Millers' prices are as follow:—Flour, £17 per ton; UtO'e, £13 10s; 50's, £19; 25's, £30. Bran, £S 15s per ton. Pollard, £10 15s. Pearl barley, £35. Oatmeal, £31 per ton. PRODUCE REPORT. The broken weather has prevented the cutting of chaff, but sufficient stocks are held in stores to meet tho demand, which is very limited. Good quality is realising up to £8 5s per ton, sacks extra., and medium. £7 10s to £3 per ton, ex store. Canterbury growers of potatoes have given up hope of finding an outlet to Australia, and aro now sending supplies freely to tho local market. Tho lesult is that prices are on tho downward grade. It is difficult to interest buyers at £5 per ton, sacks included, lor tho best quality. Medium and inferior lines are unsaleable. Canterbury onions show a further increase in price. Prices for eggs remain ■unaltered. Pigs are in keen demand. Current wholesale prices aro as follow: — Fowl wheat: Off the market Chaff: Sound oaten-shoaf, £8 to £8 sa; medium, £7 10s to £8. Potatoes: Prime, to £5; poor quality, hard to sell. Onions: Conterburj's, m> to 32s for choice quality. Eg-gs: Stamped, 2s; fresh, Is lid. Butter: Milled, bulk, best, Is 6d; soparator, pate, to Is 6d. Margarine, to Iβ 2Jd pe-r lb. Pigs: Prices irregular. Bacon: Rolls, Is 8d; sidcs,\ Is 7d. Hams, Is 9d. FRUIT REPORT. Business has been fairly brisk during the •week. Consignments of apples have arrived from Otago .Central, Canterbury, and Nelson. A few cases of pears have reached the market. The demand exceeds the supply. A line of oranges and bananas, ex Navua, is expected to be on tho market on Monday. Medium shipments of oranges, mandarins, pines, eto., ex Moana. should arrive from the north in time for the market on Monday morning. The Paloona arrived in Dunedin this afternoon with a fair quantity of South Australian grown, oranges, navels, and! lemons. Thi3 will go under the hammer to-morrow (Saturday) morning. Advice received from Auckland states that the latest bananas to arrive there, although sound and in good condition, were rather small. It 13 not thought that any of this fruit will reach the local market. Californian-grown oranges are in. good demand, but tho market is now almost clear of this fruit. Fresh supplies are duo to arrive- at Wellington, but it is not expected that the local portion mil reach here for over a week. Heavy supplies of cauliflowers have again reached the market. Last week's prices, however, were, fully maintained. Prices for rhubarb have receded dtaring the week, heavier supplies now coming forward bpmach, spring onions, and radishes are on the market, and realise sound prices. Sound cabbages ore still scarce and wanted. Current wholesale prices are as follow— Dessert apples: Cleopatras, 10s to ' 12bStunners, 9s Sd to 10s 6d; Scarlets, 7s to 9s; cookers, ljd to 2Jd; Lord Woteeleys, 7s Cd to fie 6d; medrum, 5s to 6s. on Dess< ? rt > talf-oaees, to 7s; cooking, 2rl to 2Jd per lb; extra choice "Winter Coles 16a 6d per case. Bananas: Ripe, 35s to 40s. Pines, 25a to 303 per case. Lemons: to 40a; Adelaide 22s bcl, ' Mandarins, 253 to 30s. granges: Sydney, 16s to 21s;. California to?°f* m™ o**''0 **'' I ? aS8 ' 2s M 3s 6d; cases as; 8s Gd pea- cwt. Cabbages: No choice forward; email, 3a to unable J me<hnm aDd inferior ' atewst Cauliflowers: Medium, 3s 6d to 5s vex sacke, choice, 6s to 8s 6d Potatoes, 6s to 7s per cwt. Table swedes, 6s to 7e per sack. Brussels sprouts, 7s Gd per box. Rhubarb, 4s to 6s per dozen bunohes.

THE BUTTER MARKET (Per United press association ) WELLINGTON, September at in e^jli m ° Ot last B is left F £r¥' new rason ' a niake will have to be drown upon at tho end of this month! in '^ Ln i ly enjPhw-wd that when the rise Ms? J^jfwtJWrirts^ freezing store, ex factory, or fob Xi'<rft) ports, and Is M retaiL coastal of Industries and Comnieico is taking a ceneus of all stocks held by mdmduoh, and steps will bo uk CT to tl,™ u the publl ° at Prices higher

CANTERBURY MARKETS (Per United p nES s association) CHRISTCITDRCH, September 21. Tl« h m M the ° at mMkct continues. cud on tho other hand buyer^Tre ahSwiS no disposition to advance on them The possibility of export to Great Britdn is WMEm3

VICTORIAN PRODUCE AesociaUon-Bjr Telegraph-Copynght. Onions, £20, £21. ra " ±l:l i *12.

HIGH COMMISSIONER'S CABLE.

WOOL PRICES DECLINE.

(Per united Press Association) ,««P-,Srr% 22, from the" High - - The sixteenth series of Government wool sales commenced last right. TrAw" £5n ° ver y reserved. Tho demand was poor, unless for tho finest oradw and compared with the ] Mt series tl gra of superior merinos wore 10 per cent 3 medium and inferior 15 per rent lA crossbred*, 5 per cett. lowir medium, 10 per cent lover cZZ ' Zealand wool are avaikibV fnr- tC ■ 6800 balea; scoured! crossbreds, 1500 WcT

LONDON MA.KKE.TS. LONDON, September 23. (Received Sept. 2-1, at 8.15 p.m.) At tho wool saloe moruic« wore ■unchanged, and sliubby and lower Forts were withdrawn. Crossbrcds below 48's quality wore totally neglected. Sixty per cent, of the ontalogiie was withdrawn, and owing to the poor domitv<J t '" > S!l,lcs worc curtailed by a wcok. llio Bradford tops market is exceedingly quiet, and quotations aro irregular Sixtyfours quality, BSd; 56's, 58d; 50' is, 48d; 46's, The wheat market is quiet, and only a small quantity has boon released. Flour is meeting with good inquiry for all available, siipplics. Oats: Tho market is quiet. La Platas on spot, 50b Gd' to 535. Beans ami poue tiro steadily held, and prices are unchanged. Sugar: The market is unchanged.—A, and N.Z. Cable.

LONDON WOOL SALES. Tho New Zealand Loan and Mercantile Agency Compmy has received tho followingcablegram from London, dated 21st inst.:— "Wool sales opened vory irregular. Heavy withdrawals. Merino is 10 per cent, to 15 per cent., medium crossbred 10 per cent., and fino crossbred 5 per cent, lower; coarse crossbred is neglected."

ANTWERP WOOL SALES. ANTWERP, September 24. (Received Sept. 2J, at 10.30 p.m.) At the Australian wool sale 12,400 bales were offered and 7000 sold at 5 per cent, to 10 per cent, below the prices rilling at the last sale. There were numerous buyers and good competition for good seoureds Th<= next ealo will lie held' on December 7—A and N.Z. Cable.

LONDON TALLOW SALES. Dalgoty and Co. report having" received the following cable from London, dated Septcmrrar 22:—"1330 casks tallow offered; 1050 casks tallow sold. Beef, prime, Is to Is 3d higher. Mutton, unchanged. Medium and inferior descriptions, Is higher on. average"

BANK OF ENGLAND RETURNS. Press Aesocia,tion—By Telegraph—Copyright. " LONDON, September 23. The Bank of England returns for the week ended September 2.1 uftord the following comparison with those of the previous week:— „ . . . , Sept. 10. Sept. 23. ■ Coic and bullion... _. ... £121,558,080 £121,559,000 Reserve 16,378,000 16,029,000 Proportion of reserve to liabilities, per cent u.89 13 jo £ote circulation ._ ... 125,165,000 125,48G,000 Government deposits ... 15,202,000 16,707,000 Other deposits ... 122,575,000 105,448,000 (rovemment securities ... 56,103,000 25,518 000 «K r l Ee , curitios 83,391,000 86,703000 bhort loans, 5J per cent.; three months' bills 6J per cent—A. 'and N.Z. Cable.

LONBON METAL MARKET. LONDON, September 21. (Becoived Peptcmlier 24 :it 8.15 pin ) Copper: Spot, £!lti 3s 8,1; forward, £07 Us Bd. hlootralylio: Spot, £112; forward, £118. Load: .Spot £34 17a (id; forward £35. Spelter: Spot, £i\; forward, £42 Rβ. Tin: Spot, £268 17s Cd; forward, £273 17b Gd. Salver: 4s 11J<1 per ox.—A., and N.Z. Cable

FOKETGN EXCHANGE DATES. Press Aeeociatdon—By Telegraph—Copyright. . LONDON, Scptemlier %\. The foreign exchange rates on Londou alionl the following comparison:— Par. Sept. 20. Sept. 23. rariß (Jr.) ... ... „. ... 2i,.11h 51.05 51.17 Clirisliania (kr.) 18.153 25.73 2H.70 Stockholm (kr.) 18.109 17.1.1 17 M Calcutta (rup.) ... 10 to gold sov. 22-3(1 223 d Montreal (dol.) 2.SG 3.02 3.80 New York (dol.) 4.87 i 1.54 3 .50 lokolmma (yen.) 2-ijil 33J.1 34Jd

-«. ■ GOVERNMENT SECTmmES. Press Association—By Telegraph—Copyright. LONDON, September 23. The following are the latest quotations lor Government securities, with a comparison with those ruling Jast week:— Last week. This week. 2i per cent. Imp. Con. ...£lO O 0 £45 17 a 5 per cent. Imp. War I/oan... 81 12 (i 81 12 G :i.j per cent. Imp. War Loan; 81 7 R 81 7 G 5J per cent. O'wcalth Loan... $515 0 OG 2 n 5A per cent. C'wealth Lo:in.., !>6 17 n OR 17 G N.S.W. 4's 1933, Jan.-Jnly ... 7i 17 G 7i 17 G N.S.W. 3J's, 1835-50, April-Jau.-Jnly fi.i 0 0 G3 5 0 N.S.W. .Vβ, 1935, April-October GO 2 S 51 s l N.S.W. sJ>s — 07 15 0 N.S.W. 61's — 1M 17 G Vic. 4's, 1920, Jan.-July ... On 10 0 09 10 0 Yio. 3£'s, 1021-G, Jan.-July ... 8.1 7 G 03 7 G Vic. 31's, 1920-40, Jan.-July ... 57 17 fi 57 7 6 Vic. 3's. 1929-49, Jan.-July ... Gl 0 0 61 7 6 Queensland 4's, 1024, Jan.-July 87 10 0 80 12 6 Queensland SVs, 1921-24, Jan.■Tuly .., 81 0 0 81 0 0 Queensland 3's, 1922-47, Jan.Jnly _ 53 17 G 53 7 G Queensland 3£'s, 1930-40 ... 94 0 0 01 0 0 N.Z. 4's, 1920, Stiiy-Nov. ... •84 5 0 84 7 G N.Z. 3i's, 1940, Jan.-July ... 67 5 0 G7 5 0 N.Z. 3's, IMS, April-October... 57 5 0 57 10 0 S.A. 4i's, 1916 or after ... GG 17 G GG 15 0 S.A. 3's, 1930, Jan.-July ... 40 10 0 40 0 0 T:is. Si's, 1020-40, Jan.-July... G7 0 0 G7 0 0 Tuf. 3'f, 1020-40, Jan.-July ... 61 5 0 61 5 0 W.A. 3Vs, 1920-35, May-N0v.... 70 15 0 70 15 0 W.A. 3's, 1915-35, 67 2 G 67 2 G —A. and N.Z. Cable.

Fraser and Co., auctioneers, produce merchants, and commission agents, and agents for the Otago Egg Circle, 146 Crawford street Dimedin, report:—Eggs: Market steady; the prices realised by us this week were—plain Is lid; Otago Egg Circle, 2s. Poultry: Wo held our usual weekly sale on Wednesday, when the following prices were realised: — Hens, to 8s; cockerels, to 7s; roosters to 6d 9d; ducks, to 0s; geese, to 10s per pair; turkeys—gobblers Is sdl, hens Is 2d per lb live weight.

1' raser and Co., auctioneers, produce merchants, commission agents, and agents far 11 ie Utago kgjr Circle, 116 Crawford eticot Dun•Min, report:—Eggs: Murket steady; tnc prices realised by us tide week were—plain. Is n<l; OUgo Krrg Circle, 2*. Butter: lib Pats, separator, Is lid; milled, bulk, Is 6Jd. ■liga: Wanted; f-ood bacon weights, la 2d; perkers Is 2d; overweights, fid to 10d. Tallow: Market weak, from ,12s to 42s per cwt according to quality. Honey. "Wanted- wo can guarantee you !hl por lb for good bulk. Beeswax. 2s 4d to Sβ Cd per lb. Potatoes: iUarkot easy; northern, £5 to £5 10a. Thomsons calf meal, in 1001b bags, 325; 50lb bags, 17a; 251b bags, 9s. Langdovm's chicken loeel Prices on application. Triumph inrS:r £10; 250-egg, £20; .ti 1() 3 ; m Champion egg cratSV i rices on application. Poultry We lickT our usje.l weekly sale on Wednesday, when the following prices wore realised:—Hens, to 8s; cockerels, to 7s; roosters, to 6s 0d; ancks to 9s; prerae, 10s per pair; turkeys— hens Is 2d, gobblers Is fid per lb, live weight.