COMMERCIAL

Otago Daily Times, Issue 18052, 28 September 1920, Page 4

COMMERCIAL

THE "WOOL SALES,

HEAVY -WITHDRAWALS AND LOWER PRICES.

DIFFICULTIES AHEAD.

(FROM OUR- OWK Coruespoitden'T.) LONDON, August 5. In the report covering the last series of London wool sales, which closed on July 15, Mr A. D. Henderson (New Zealand Farmers' Co-operative Association) mentions that the quantity withdrawn from day to day was large, amounting to some 45 per cent, "of the offerings, while prices aTe generally from S to 10 per cent, lower. Tho only exception to this decline is superior fine gTeasy New Zealand crossbreds, which were about 5 per cent, higher than in June. Medium qualities, at ono time in fair demand, finished 7J per cent, lower. Coarse descriptions were unsaleable, and prices for them are nominal. Scoured and sliped crossbrcds were generally 5 to 10 per cent lower. Since then some 5000 bales of South African drools have been offered, but tho competition was very poor. It was not so much a question of high limits; buyers simply would not bid. As a result only 450 bales were disposed of at tho auctions, but afterwards a few more lots were placed. Prices for what was sold indicated a fall of about 10 to 15 per cent, compared with June sales. , Henderson says it must bo rewnisod that there are difficulties ahead. Owing to the large amount of wool that has nccutnuu are larger than ever before, and when taken with tho new clips now in sight they are too laTge for the present consumptive demand, and even if the wool could be passed on to the various centres of manufacture with tho rapidity of pre-war years there is not enough machinery to deal with such a volume of supply. _ The restriction of credit and tho heavy taxation are also unfavourable factors. On. the other hand, thero are important favourable influences. Stocks of the raw material in users' hands are generally very light, and there are no substantial stocks of manufactured goods. Then, eooner or later, it is expected that there will be an unprecedented demand from the millions in Cen- . . European countries who are absolutely destitute of woollen goods. This circumstance before long may begin to make itself felt, and the market prospects for all good wools look very favourable. But faulty and °°arse wools, wliich are in largo supply, will probably go much lower in valuo. BUTTER AND CHEESE. The outstanding feature in the situation with regard to butter—apart from the English market—is an apparent great shortage for the coming winter. Mr Henderson eays this 13 being accentuated in Europe by trarchases m Denmark on account of the United States, and also by tho demand for butter from G-er-many, who now como into the market for tho first time, and who will probably acquire a certain proportion of tho available Danish supplies. New iiealand cheese is now being negotiated for, and some sales have been made in tho neighbourhood of Is 2d to Is 2*d, f.o.b. It is understood, however, that tho bulk of the co-operativo factories are likely to ship on open consignment, and their produce should wme to a good market in the early part of the new year, after Government distributions nave ceased. MEAT. Colonial mutton (with the exception of Australian) is in good demand, and tho Meat imjior tors' Committee has approached tho lioara of Trade suggesting a reduction ui prico eo as to stimulate consumption. Mr Henderson mentions that the latest season's Now Zealand lambs are to bo eecn here and there on market,, but in no appreciable supply. Xf it were* inot for the control in price this meat would make considerably more than it is making. Importers are offer.ng next seasons first arrivals of New land lambs at_ 7s 4d per 81b, 0.i.f., but traders aro not inclined to entertain business, being uncertain as to when the meat would arrive. In tho industrial parts of England demand for Homo-killed meat has been so great that little of it has been coming to .London, and one result is that the American section of tho trade has been able to market heavy quantities of chilled Argentine beef, obtaining much better prices than would havo been possible had the usual supply of Home-lolled been available at SmithSeld.

NEW COMPAMES. The Mercantile Gazette announces the registration of Uio following new companies: — C. S. JenJcins and Co., Ltd.—Regd. as a private company August 24, 1920. Office- 3 15 Dowling street, Dunedin. Capital: £3000" into 3000 shares of £1 each. SubscribersDunedin—Charles E. Jenkins 2000, William A. Jenkins 1000. Objects: I'htmbers. H. I/. Sprcsen, Ltd.—Regd. as a, private company August 21, 1920. Office: 1 George street, Dunedin. Capital: £2000, into 2000 shares of £1 each. Subscribers: Dunedin— H. L S prose n 000, E. H. Hart 900, A. 0. Broad 200. Objects: Pharmaceutical chemist and vendor of photographic appliances trore Publishing Company, Ltd.—Regd. September S, 1920. Office: Goto, Southland Capital: £'20,000. into 20,000 shares of ±i each (10,000 preference and 10,000 ordinary). Subscribers: Gore—J. H. Dolamore, 3750 preference, 1000 ordinary; A. M. Dolamore, 3750 preference, 1000 ordinary; D. Macara, 1250 1000 ordinary; G. J. Anderson, T Wlr nCC T 1 ?r K) or «hnary; H. A. Hall, r\J - P- G. Ross, J. E. Geo. and A. J. Grant, each 1000 ordinary company Journalists and publishing

PROPERTY SALE. Todd Bros. (Ltd.) report having on Saturday offered for sale by public auction, under instructions from the Public Trustee as executor in the estate of the late Robert Richardson, 678 acres 0 roods 23} poles of fret hold land and -141 acres 1 rood 35 poles lcaoe-m-perpetuity, situated at Miller's Flat. Tho property was first offered in one lot, but failed to reach a satisfactory price, and the firm, then offered it m two lots. Subsequently 3£ and wag sold to Messrs George and Wii l'f» m at a satisfactory figure After the land had b-n sold, the live and dead stock was sold at auction, the priccs realised being; Horses, up to £17; owes and lambs, up to 20s (all counted); and implements, harness, furniture at full market rates.

Writing in the 'Sunday Times, Miss M. CoxTaylor, relativo to the retirement of tnr Thomas Mackenre from the High Commissionership, describes him as one of New Zealand's most picturcsquo personalities. How faithfully he lias done bis duty [as High Commissioner) is the text of "afterdinner speeches in his honour. Shrewd business man, politician who has never been defeated at tho hustings, explorer who discovered lakes and mountains "and hacked his way through primeval forests, farmer who knows wheat by the si7.o of its ears and calls wool by pet names familiar to the trade, land surveyor who biased the trail ho had snatched from tho wilderness, ho is essentially a path finder. Though the official route should be blocked with red-tape entanglements, Tam Mackenzie' would cut a way through. Big, genial, his rugged strength and iron will are hidden under a manner as soft as a kid glove. ITo is, possibly, the most accessible and unassuming ofucinl 111 London's hidi places. Yet his record as a worker would bo hard to rival "

Scott Bros., produce merchants end commission agents, agents for Tho Egg and loultry Association, 3>uncdin, report;— Eggs; Firm. Poultry Association, 2a per dozen. Luttor: Dairy pats, Is G£d; separator, Is GJd per lb. Honey: Primo clover, wanted; bulk 9su per 11>; 10lb tins, 10s each; sections Is Beeswax, 2s -Id per lb. Eat, 42s per cwt! I oultry: Cockerels. 10s; liens, 7s 6d per pair; ducks, 9s Gd; geese, 12s per pair, turkeys: Gobblers, Is Gd; hens, Is 2d per lb. Pigs; Prime, baeonera. Is 2d per lbporkers, Is Id; overweights, 4d to 8d per lb Hams, Is S:1 per lb. Bacon, Is Gd per lb. i, , °°n 3: Vory qulot - - liest whito sorts, II " p . cr ,on ( ha f? s ™j- others unsaloable. Onions, :u 9 per cwt. CJlitifF: Prime sheaf, £3 per ton; medium quality, .£7 to I, 10s pel- ton (sacks extra). OatsI rime, 4s Gd per bushel; SpnjTowbdll, 5s 3d per bushel, ex store (sackß extra). Straw--1 rcesedwl,eaten, £4 ss; oaten, SA 15s per ton. We can supply potrol, motor lubricating oils and greases. Also lucerne chaff for poultry.