COMMERCIAL. HOME-GROWN HUMOUR, ART, AND LITERATURE.

Otago Daily Times, Issue 18323, 13 August 1921, Page 8

COMMERCIAL.

HOME-GROWN HUMOUR, ART, AND LITERATURE.

Daily Times Office, Friday Evening. In a cable message received by Lindley Walker Co-operative Wheat Company (Melbourne), from its Liverpool agent, it is advised that the United States winter wheat is moving freely, and that the opring crops have suffered damage by heat. Canada reports rust, but 'otherwise the crops there are favourable. Indja and the Argentine have had good rains, and the drought in Europe is breaking. General wheat supply prospects are somewhat less favourable than predicted lately. Early in June the weather in Argentina was seasonable and cold, but favourable for ploughing and ©owing. Since then dry weather conditions have given rise to some uneasiness, and the rain has just about come in time to avoid serious consequences. Advices from London dated June 7 state that freight rates on i wheat from the River Plate had been steadily maintained. A moderate chartering badl been done for upriver to the United Kingdom for July leading ot up to 65a, and 42s 6d for Auguat-Septeiu ber loading. The rate from Australia to the United Kingdom or the Continent continued at 52a 6d. On June 30 rates from Australia had advanced, and, business was done for August-September Bailing at 63s 6d a ton. It is understood that charter' rates have advanced still further, as the practical absence of outward cargo makes the business unprofitable at the former quotations. Private estimates of the United), States winter wheat crop at June 1 placed it below the official forecast of a month earlier; One authority predicted a yield of 599,000,000 bushels, against hie previous estimate of 644.000. bushels, while another estimated 610.000. bushels, against the earlier forecast of 640,000,000 bushels. With regard to the spring crop of the United States, in one quarter the area sown was put down at 17,652,000 acres, and the crop at 245.000,000 bushels, or a reduction of 47,000,000 bushels when compared with the May 1 estimate, while in another direction the area was given ao 17,711,000 acres for a yield of 247,000,000 bushels. These estimates were strong “bull” factors, end on Juno 1 had the effect of advancing the price of July option wheat at Chicago 8J cents a bushel, and cash wheat 2J cents to 6J cents a bushel. These influences had an important bearing on prices of wheat for export flour on the Australian market, when the Australian Wheat Board advanced the quotations three times within about a fortnight, the aggregate increase being Is a bushel. LOCAL MARKETS. The wheat market continues quiet, and there are few samples of milling on offer. It looks as if the bulk of the crop, with a few exceptions, was now out of first hands. It is stated, however, that one holder has still 4000 sacks on offer, but the quality is not prime milling. The Wheat Controller has also offered a local miller 1200 sacks, these being held, it is understood, in Ashburton. Millers are of the opinion that there will be a shortage before the new season’s crop is available, end that further supplies will have to be obtained from Australia. Only a few samples of fowl wheat are on offer, and! at the present time not many lots are held in the local stores. It looks ns if the shortage is likely to be accentuated as the year wears on. Millers’ prices are as follow;—Flour, £2l 10s per ton; 100’s, £23; 50’s, £23 10s; 25’s, £24. Bran, £7 per ton. Pollard, £lO. Pearl barley, £lB. Oatmeal, 200’s, £2O; other quantities, £2l. Pearl barley has dropped £4 per ton during the week. The oat market remains quiet. Farmers in the Heriot district are holding out for about 3s ia. trucks, sacks extra, but a penny or so less would probably bo accepted in other districts. There does not appear to be many lots available in any distroits outside Gore and Kelso. There is not a very keen shipping demand, but sales have been made during the week at about 3s 7d to 3s Bd, f.0.b.5.i., for A’s, with B’s a penny less. PRODUCE REPORT. Fair supplies of chaff have been coming to hand, and the market is quiet at £5 6s for prime. Medium end light is worth from £4 10s to £5. Sufficient chaff is held in stores to meet any immediate demand. The potato market continues in a stagnant condition. The stores are holding fair quantities, and moat of these will require to be picked over. Inquiries have been received from the North Island, but the prices offered have prevented any business resulting. It is reported that some farmers do not intend to take their potatoes from tho pits, tho prices on offer not being high enough to pay them for their trouble. , Pressed wheaten straw is quoted at £3 5s delivered in Dunedin, and oaten at £3 15s. There is no difficulty in obtaining supplies. The prices of eggs remain unchanged. A further supply of Melbourne onions will arrive by the Paloona. Bacon is in plentiful supply. Current wholesale prices are as follow; Chaff: Prime, about £5 ss; medium and light, £4 10s to £5. Potatoes; Prime quality, £3 to £3 ss. Eggs: Stamped, Is 9d; plain, Is Bd. Dairy butter; Pats, Is lOd; milled, Is lOd. Onions; Melbourne, £9 10s per ton. Margarine, IOJd per lb. Bacon: Rolls, Is 3Jd per lb; sides, Is 2id Hama, Is 4d. FRUIT REPORT. Business has been® fairly good during the week, although no overseas fruit has com© forward. A small lino of mandarins, from Sydney, via Wellington, is on board the John, and should be in the auction marts to-monow morning. The Paloona. which is due from Melbourne, via Bluff, early next week, has a quantity of fruit on board, but no advice has so far been received of the number of cases. Advice has been received from Auckland that there is only a light shipment of oranges from the Islands, and that practically none of them will be sent to the southern markets. A shipment of bananas should arrive from Suva about tho end of next week. A line of Rarotongan-grown bananas is expected to arrive shortly. Prices of vegetables were firm during the early part of the week, but heavy supplies of cauliflowers were available on Thursday, and prices for this vegetable eased. Current wholesale prices are as follow: Apples: Dessert Jonathans, 9s to 10a; extra choice, to 12s; Scarlet Pearmains, 8s 6d to 10s 6d; Stunner, 10» 6d to 14s; Delicious, choice, 18s to 20s; Cleopatra, 0s 6d to 10a 6d; cooker®, 7e to 8s 64. for choice; medium, 5s to 6s; small, 3a to 4s. Lemons; California, 50s to 555; Adelaide, to 20s. Pears, 2d to 3d per ]b. Pines, 15s to 22s per case. Bananas: Ripe, 25s ta 30s. Passion fruit, 17e 6d to 20s. Oranges; American, 45a; navels, 21s to 245; Island, 25s to 80s, repacked; mandarins, 25s to 27s 6d. Potatoes: Sacks, 6s 6d to Gs per sack. Table carrots, Is per dozen bunches; 5s Gd to Gs per cwt. Parsnips, Is per dozen bunches; sacks, 4s to ss. Cabbage©; Bead, to 6s 6d per dozen; medium, 3» to 4s per sack; prime, Gs to 7a; Inferior, fid tQ 1* P«T BOCk.

Beet, Is per dozen bunches. Cauliflowers: Choice, 8s to 12a per dozen; medium, 4s to 6s per dozen; small, 2s to 3s Cd per dozen; sacks, 6s to 9a 6d. Lettuce: Choice, to 3s per dozen. Spring onions, 4d per bundle. Celery, 3d to 6d per bundle; choice, 10d. Looks, 2Jd to 3Jd per bundle. Piemelons, 20s to 22s per cwt. ♦ PRODUCE REPORT. Messrs J. Nathan and Co. (Wellington) report as follows under date August 8; BUTTER. London reports that prices are unchanged and the quiet. The drought has broken ini England, and no doubt buyers are inclinejd to be a trifle cautious until it is known (if the rain has come in time to save the pastures to any extent. It is also reported that the demand for margarine is steadily' increasing, and it is a factor that must always be taken into consideration. It appears clear now that consumers will pay only : up to a certain price for and if th|at prioo is higher than their purchasing power margarine is used instead. People who should be in a position to judge place tHo limit at whiph consumers •in the ' United Kingdom will pay for butter at soipewhere about 2s Cd per I lb retail. When the price goes above this figure consumption is_ likely to be icrjrtailed. It is apparent that the margarine! manufacturers anticipate this may happen, j as it is cabled from London that they are buying raw material for the manufacture of margarine very freely. Vancouver. —It is reported that some demand is expected from this quarter, but, so far, one' can learn, of no business passing. ' CHEESE. London quotes New Zealand white at 138 s, coloured ■ I&2S to 1345, landed terms. Canadian is quoted, at 132 a to 1355, c.i.f. The market is quiet. There is still not very much to report in the way of straight-out selling of outputs, and, apparently, very few lactones have yet sold. It is interesting to note that the Canadian c.i-f. prices are lower, which seems to indicate that they have found that they were asking too high prices. General.—So far buyers’ prices have not been up to the factories’ ideas with both butter qnd cheese, with the result that there have been many factory meetings adjourned in the hope that buyers’ limits Will be increased. Those London houses that paid high prices for outputs last season are naturally bather chary of speculating in any way, and, similarly, the retail trade in London no doubt also feels it should walk warily in arranging forward purchases this year, consequently the buying feeling is not so keen as usual, the feeling mostly being to wait developments. ' THE HOME MARKETS, BUTTER. FIRM. LONDON, August U. Wheat: Quiet, but steady. Australian, ex quav, 775. Flour: Dull. Australmn, ex mill, 63a. Oats; Steady. Beans: Firm and dearer. , Peas: Advancing. Tasmanian Blues, 520 s to 600 s; Zealand, 500 s to 520 a. Sugar: Finn. Granulated, 61a 6d, Butter; Firm. Good demand for Australian and New Zealand. It is expected that the Government will raise the price to-morrow about ss. Free Australian, ex Ormonde and Kent, is selling about on a parity with the Government prices, the quality and condition being good. Cheese: Slightly easier. New Zealand white* 132 s to 138 s; coloured, 132 s to 1345; Australian white, 121 s to 128 a; coloured, 120 s to 126 s.—A. and N.Z. Cable. LONDON METAL MARKET. LONDON, August U(Received Aug. 12, at 9.49 p.m.) Copper; Spot, £7O Is 3d; forward, £7l 6s 3d. ( , Lead; Spfat, £23 10s; forward, £23. Spelter: Spot, £2s 10s; forward, £26 6s. Tin: Spot, £157 2s 6d; forward, £l5B 12s Silver, is lid per oz. —A. and N.Z. Cable. BRADFORD WOOL MARKET. LONDON, August 11. (Received Aug. 12, at 11.16 p.m.) The Bradford wool market reports little business, and prices are unchanged.—A. and i\.Z. Cable. AUSTRALIAN MARKETS. MELBOURNE, August 12. Barley: English, 4s 7d to 4s 9d; Cape, 3s 9d to 3a 10dOats, 2s 94 to 2s Bd. Potatoes, £3 10s to £5. Onions, £3 10s to £4. WHEAT PRICES. MELBOURNE, August 12. The Wheat Commission has advised that quotations for wheat and flour for export, October shipment, are now obtainable at 7s 3d per bushel. HIDES MARKET, kELBOURNE, August 12. Hides are firpi and valuea unchanged. Blips are in demand. CANTERBURY MARKETS. (Feb United Pbess association.) CHRISTCHURCH, August 12. Whilst little business is 1 passing locally in oats, prices remain unaltered. Very few offers are being mad© by farmers. Undoubtedly a big quantity cf oats are still in stack in Canterbury, but spring thrashing as a rule has rarely been heavy, and it is quite probable that a good deal of it will lie chaffed. Since the reduction in the freight Home to £3 0s per ton about 26,000 sacks have been shipped to England, but recently there has been, a cessation in export Present quotations are 3s 7d, f.0.b.5.i., equal to about 2s 9d at country stations. Seeds have steadied. The recent demand took them to figures that stopped speculative business, and although the market is firm, there is not much doing beyond seasonal orders. , . Potatoes have licen made, firmer, which is due to the lesser quantities despatched north recently. The fineness is represented by inquiry rather than by any Appreciation in values, which aro still from 30s to 35s at country stations. OTAGO FARMERS’ HORSE BAZAAR. The Otago Farmers’ Co-operative Association reports:—We held our usual fortnightly horse sale at our horse bazaar, Crawford street, Dunedin, on Friday, 12th mat., when we offered 60 horses of all classes, principally working draughts, to a good attendance of buyers. Three-fourths of the entry came from country districts. Wo had consignments from Ida Valley, Moniototo, Middle march, Ngo■puna, South Canterbury, the Tnieri, Palmerston, Milton, Waitahuna, and Lovell’s Flat. There were no horses of exceptional merit, but for an all-round entry of good working farm horses the sale was hard to beat. W© had buyers for good quality show mares arid geldings, but as there were none forward ‘ they bad to leave unsuited. We sold several good farm mares and geldings at £47, and 32 at from £2B to £37. The balance of the entry at quotations. Our next sale will bo held on Friday, 26th inst., when another consignment from Central Otago and several from Southland will bo offered. WEEKLY REPORT. Fraser and Co., auctioneers, produce merchants, commission agents, and agents for the Otago Egg Circle, 146 Crawford street, report;—Eggs: Market weak; we quote Egg Circle eggs, Is 9dl; plain, Is 7d to Is 3d. Butter: Dairy pats, Is 9d; milled bulk, Is lOd. Pigs: There is a good demand for good baconers; we quote good bacon weights, Bid to 9d; porkers, 9d; overweights, 4d to 6d per lb. Tallow: Market weak, from 14s to 18s per cwt, according to quality. Honey; Demand is poor, little coming forward ; prices are nominal—prime bulk, 7d to Bd, 101 b tins, 6s 6d to 7s. Beeswax, Is 9d per lb. Potatoes: Market weak; w© quote best Taieris, £3 10s to £3 15s; northern, £3 ss. Melbourne onions, 0s Gd to 10s per cwt. Fowl wheat, 30a per sack, sacks included, cash with order. We have the Otago agency for the Champion egg orates, price 17a 6d each. Poultry leg rings, in assorted colours, Is 6d per dozen; special quotes for large quantities. Pettey’s too punches, 2s 6d each. Orion Colony brooder, £ls. Poultry; Quantity coming forward bas eased off very considerably, and prices are nominal; hens, to 6s Gd; roosters, to 5s 6d; cockerels, to 6s 6d: ducks, to 7s—all nt per pair. Turkeys, Is per Jb, live weight. Fraser and Co., auctioneers, produce merchants, commission agents, and agents for the Otago Egg Circle, 146 Crawford street, Dunedin, report:—Eggs; Market weak; we quote F>gg Circle eggs, Is 9d; nlain, Is 7d to Is Bd. Poultry: quantity coming forward has eased off very considerably, and prices aro nominal; hens, to 6s 6d; roosters, to 5s fid; cockerels, to 6s Gd; ducks, to 7s—all at per pair. - Turkeys, to Is per lb, live weight. BRAY BROS., Auctioneers, Dunedin. Consignments of poultry, pigs, eggs, honey, end butter are urgently wanted, alee fruit and all farm produce. Prompt attention 1 given to correspondence, and inquiries invited. —Advt. I

FOREIGN EXCHANGE BATES. Press Association —By Telegraph—Copyright. EONDON, August 11.

BANK OP ENGLAND HETUHNS. Press Association—By Telegraph—Copyright. LONDON, August 11. The Bank of England returns for the week ended August 11 afford the following comparisons with those of the previous week— Aug. 4. Avtg. 11. Coin and bullion £126,563,000 £126,566,000 Kcserve 18,133,000 13,266,000 Proportion of retervo to liabilities, per cent. ... 14.50 14.55 Note circulation 128,609,000 127,564,000 Government deposits Other deposits 108,710,000 114,117,000 Government securities ... 47,587,000 50,115,000 Other securities 77,281,000 81,107,000 Short loans, 4 per cent.; three months’ bills, 4j per cent.—A. and N.Z. Cable.

“Aussie” has on© object in life—to discover and encourage Australasian artistic and literary talent. It pays the best prices and gets tho best art, literature, and humour that Australia and New Zealand can produce, August issue contains the best work of 57 different Australasian artists and writers. It costs 8d at all newsagents. 13821 ' ' ' ’' - 1 1 1 “1

The foreign exchange rates on London oflord the following comparison : — Par. Aug. 8. Aug. 11 Paris (fr.) „ 23.362 48.00 46.70 Christiania (kr.) 18.159 28.25 28.16 Stockholm (kr.) ... - 18.160 17.5.1 17.45 Copenhagen (kr.) 18.159 23.57 23.47 Montreal (dol.) 4.86 4.07 4.05 New York (dol.) 4.83 3.65J 3.65: Yokohama (yen . 24$ 32$ 32 Hongkong (dol.) . 33} 33 32 ; Berlin (mark) 24.43 293 297 Calcutta (nrp.) ... 10 to gold sot. I5J —A. and N.Z.' Cable. 15}