COMMEECIAL.

Otago Daily Times, Issue 18466, 30 January 1922, Page 4

COMMEECIAL.

Daily Times Office, Saturday morning. Clothes pegs are in very short supply. Further shipments are expected in two or three weeks’ time. - A shipment of English whiting has come to hand by the ’ Rimutaka, - also a consignment of Gilbeyte gin. The Westmoreland, due to arrive next week, has consignments of both bulk and case whisky. Smyrna sultanas and prunes are at present short on the, market. , A shipment of Johnson’s baby powder is on board the Orari. The local quotation for Bud’s fruit salts is 42s per dozen. Tens, ovals, at Three Castle green are practically out of wholesale hands, and customers have now to be satisfied with 10’s, cartons. * Marmite vegetable food baa been advanced 3d per dozen. A small parcel of zig-zag cigarette papers was landed ex Rimutaka, and quickly went into retail hands. Lentils are in very short supply, owing to »th© Indian Government prohibiting the export from India. The only other source of supply ie Egypt, which supplies the best lentil, but the prices are so high as to make importations from there almost out of the question. SUGAR SHORTAGE, The chief item of" interest this week in the grocery trade hae been th© acute shortage of sugar. Most stores have been put ■of stock fox days (soye the Mercantile Gazette), and th© arrival of the Wingatui with fresh supplies was eagerly awaited, it was very unfortunate that this boat did not arrive in Lyttelton until Thursday. She was scheduled to arrive eight or 10 days earlier. This ia the first sugar boat since the New Year, and. strong complaints have been made against the Board of Trade and the Union Steam Ship Company about the unsatisfactory deliveries of sugar from Auckland. The statement that the Minister advised merchants to, lay in stocks of sugar is correct, but the stocking up of hug© quantities of sugar by merchants is another matter. The pick of tbe_ sugar business in New Zealand is done direct through the Board of Trad© and Hhe merchant is ollowSd only tp do th© smaller business orders. All good business, such as orders for five or 10 tons a month, is taken oat of the merchants’ bands and. dealt with direct. It has been suggested that the - Board of Trade should store 500 tons of sugar in Christchurch, and another 500 tons in Otago. If this were done, the- present trouble would never com© about, and it would also be a safeguard against shortage should a shipping hold-up occur. If a shipping strike happened in the height of the jam season, it would be a Very serious thing for South Inland fruitgrowers, and would probably ruin, many of them. o- ' LONDON MARKET REPORTS. Press Association—By Telegraph—Copyright. LONDON, January 28. (Received Jan. 29, at 6.5 p.m.) The following ore the latest quotations:—'Sheep.—Canterbury; Light, 7Jd; medium, 74d; heavy, 6Jd. Southland: 6Jd. North Island; j6Jd to 7d, New Zealand ewes; 6}d. Australian: First grade, 6}d; seconds, 6d. Patagonian: light, 7d; heavy, 6Jd; ewes, 6jd. La mbs. —Canterbury t 104 d; medium, lOJd; heavy, lOd; seconds, lOd. Southland: lOd. North Island; Selected, 10Jd; ordinary, lOd. Australian: Best, 10}d; fair, 9Jd; inferior, 9}d. South American: Light, 9}d; heavy, 9d. * Frozen Beef Argentine: Fores, 3}d; hinds, Chilled Argentine: Fores, 3Jd; others, unchanged. ; , ■ . Cotton. —Liverpool quotation for American middling upland, February delivery, 9.53 d per Jute. —The market is weak. Native first marks, Janttaiy-February shipment, £23 IBs a Zeolnnd Nemp.—January-Mareh shipment., £35 10s 4 ton. .... Rubber,—Fiae hard para. Is lb; plantation, first latex crepe, BJd; smmoked ribbed sheet, 83 d - ' Coora,—The market is quiet and steady. South Sea bagged, January-Mareh shipment, £24 a ton. . , Linseed OiL—£3o a -ten, equal to 2s 6}d a gallon. Turpentine.—7os 6d ppr owt. equal to 5a 6}d per gallon.—A. and N.Z. Cable. BANK OF ENGLAND EETDBNS. Press Association—By Telegraph—Copyright. LONDON, January 26, The Bank of England returns tor the week ended January 26 afford the following oompariBons with those of the previous week:— 1 Jan. 19. Jan. 26. Ooin end Bullion . . —. £128,619,000 £126,621,000 Beserve _. ... 24,294,000 24,691,000 Proportion of reaenra,fo Babflifcies, per cent. ._ 17.60 18.20 Net© circulation ... Government deposits Other deposits ... _ _ 117,821,000 120,299,000 Government seccrtties ... 47,144,800 45,079,000 Other securities —. ... 83,975,000 83,667,000 Short loans, 3} per cent.; three months’ bills, 3} per oente—A. anAeN-Z. Cable. qgvebnment secdbutes. Press Association—By 'Telegraph—Copyright. LONDON, January 28. The followteg are the latest quotations for Government securities, with a comparison with those ruling last week I . Last week. This week. 2| per cent Imp-’ Oon. ... £53 0 0 £52 10 0 6 per cent. Imp. War lean 01 10 0 91 10 0 34 per cent. Imp. Wax Loan 93 6 0 93 10 0 54 per cent. C*wealth Loan 99 17 0 90 17' 6 5} per cent. O’wealth Loan 98 12 6 98 12 6 New scrip, 10s discount N.S.W. 4*B, 1938, Jan.-July... 82 12 6 83 5 0 N-S.W. 3}’s, 1935-80, Jan.-July 86 10 0 CB 15 0 N.S.W. Te, 1935, Apr£l-0ct.... 72 2 6 72 7 6 N S.W. s}’S ... 97 0 0 97 0 ’ 0 N.S.W. 6i’S ... U>2 17 6 102 17 6 Vlo. 4’a, 1921-6, Jaru-July Tic. Si's, 1929-40, Jan.-Jnly 66 10 0 66 15 0 Vkj. 3'b. 1929-49, Jan.-Jnly 59 10 0 62 0 0 Qland 4’b, 1924, Jan.-Jnly ... 92 5 0 92 12 6 Q’kmd 3Vs, 1921-24, Jan.-July 91 7 6 93 7 -6 Q’land 3’b, 1922-47, Jan-July 57 5 0 57 5 0 N.Z. 4'e, 1929, May-Nov. ._ 89 0 0 89 0 0 N.Z. 3Vs, 1940, Jan.-Jnly ... 73 2 6 73 15 0 N.Z. 3’a, 1946, April-Oct. ... 66 10 0 67 6 0 S A. 3's, 1930, Jan-July ... 53 15 0 53 0 0 S.A- 3VB, 1946 or after ... 71 0 0 72 17 6 Tka. 1920-40, , Jan.-July 73 5 0 73 ' 0 Tas. 3's, 1920-40, Jan-Jnlr.... 68 0 0 66 0 0 WJL' SVa, 19*0-35, Mav-Joly 78 0 0 75 6 0 a & im

FOEBXGN EXCHANGE BATES. Press Association—By Telegraph—Copyright. LONDON, January 26. The foreign exchange rates are as follows compared with those last cabled: — London on Par. Jan. 23. Jan. 26. Paris, fr. to £1 ... „ 26.223 62.60 61.75 Christiania, kr, to £ 18.169 ' 26.06 26.90 Copenhagen, kr. to £ „ 18.169 21.05 21.05 Stockholm, kr. to £ 18.159 16.90 16.90 Berlin, mk. to £ 20.43 870.00 850.00 Montreal, doL to £ ... 4.86 2-3 4.45 4.44 New York, dol. to £ ... 4.86 2-3 4,21 4.22} Hongkong, tier, to dol. ... * 32d 32d Yokohama, st. to yen ... 24.58 27}d 27d Calcutta, st. to ipe. ... 24d 15|d 15}d • Determined by price of silver. —A. and N.Z. Gable. ' NORTH ISLAND STOCK SALES, ADVANCE IN SHEEP PRICES. (From Oua Own CoaazspoironiTT.y WANGANUI, January 23. There ifl a, marked improvement in all the stock sales along the West Coast, and the good advance in prices at the Wanganui sales _on Wednesday was well sustiined at Feilding, where an entry of over 4000 sheep and lambs was offered. One lino of prime black-faced crosses reached 25s 6d and a line of 500 rape lambs, which brought 10s 3d at the Palmerston North sale the day before, were turned over again at 11s Id. Fat lambs ranged from 13s to 16s 4d, and fat wethers brought from 17s to 17s lid, and hoggets from 12s to 16a. Not for nearly nine months has there been such spirited bidding, and, it almost appears as if flock-masters have turned the corner and are onc§ again on the rohd to prosperity. • THE LONDON MARKETS. Press Association—By Telegraph—Copyright. LONDON, January 26. Wheat; Cargoes are quiet, with an easier tendency. Spot, firm. Australian, 62s 6d to 545, ex store. Flour: Stcody. Atfetralian, 44s to 44s 6d, ex store. Oats, peas, and beans ore firm and unchanged. Sugar (granulated), 47a 3d. Copper, £64 18s 9d to £65 13s 94 Lead, £23 2s 6d to £23. ' Spelter, £25 10s to £27. Tin, £155 17a &i to £157 12a 6d, Silver, 35d.—A. and N.Z. Gable. LONDON MIXED WOOL SALES. Press Association—By Telegraph—Copyright. LONDON, January 27. At the mixed wool salewan excellent and large offering of merinos sold well for the Home and Continental trade at late rates. Crossbreds were, in good demand, and were firm at full late prices. Grey’s Sills’ (New Zealand) clip made up to 42}d and averaged 41d.—A, and N.Z. Cable. LONDON MEAT MARKET. Messrs Dalgety and Co., Ltd., report having received the, following cablegram from their head office, dated London, January 26. Quotations. —Now Zealand prime crossbred lamb, Canterbury heavy 9}d light lOd; North Island heavy 9d, light 9}d. Demond fox New Zealand lamb is steady. New Zealand prime crossbred mutton, Canterbury heavy 6Jd, light 7d; North Island heavy Gd, light 6}a. Demand for New' Zealand mutton ia bettor. New Zealand prime ox beef, hinds; 7gd to 7}fores 6Jd- Demand for New Zealand beef poor. Market for New Zealand lamb ia firmer; mutton, market firmer; beef, market dull owing to lack of demand Australian good average quality crossbred lamb, heavy 9d, light 9}d; mutton, heavy 5Jd, light od. Demand Australian lamb active; mutton, demand fair. AUSTRALIAN MARKETS. Press Association—By Telegraph—Copyright. SYDNEY, January 27. Oats; Algerian feed, local, 3s 9d to 3s lid; Tasmanian, 4s; milling, 4a 2d; white, 4s 4d. Maize: Yellow, 5s 9d to 6s; white, 5s 6d. Potatoes: Tasmanian, £7 to £8; Victorian, £4 10s; local, £4 to £4 10s. Onions: Victorian, £7 to £lO. . ADELAIDE;-.January 27. Oats: Nominally 3a Id. THE NEW SOUTH WALES LOAN. Press Association—By Telegraph—Copyright. SYDNEY, January 27. The newspapers comment favourably on the New Soqth Wales loan, which gives a yield of £6 3a 8d per cent. The final instalment of 60 per cent, is payable on March 10. The interest is payable in_ May and. November. One pound per cent, is payable on May 1. The holders of maturing 4 per cents, who convert their holdings will receive a cash payment of £3 7s per cent. The holders of 6i per' cents, who convert will receive £2 18a 3d per cent. —A. and N.Z. Cable. OAMARU MARKETS. (Frok Our Own corniESPonDEirr.) OAMARU, January 28. There is quietness in the grain and produce market, and the only business reported during the Week has been the sale of several lots of old eeason’a Garton oats, which have changed hands at country stations at 2a 4d net for i A grade and 2s 3d for B's. Harvesting has commenced in a desultory way, a number of fields cf oats and a few lots of wheat having been cut, but no samples have yet come on the market cutside of some ‘very evrly Algerians, for which there is no outlet. It will probably be a fortnight or more f before there is any appearance of wheat,‘for which the market is eagerly looking forward. But there will he. nothing like general harvesting of this cereal for several weeks, for a great iqany of th© crops ate etill green and the oars filling. The dull weather experienced of late has, however, resulted in the appearance of rust in various placco not far from the oeaboard, and unless bright, genial sunshine .supervenes a good deal of injury may b© done. . , ' The etock market has become more active as a result of buyers of fat lambs for export operating with greater freedom at improved prices. The influence of this competition was felt at the weekly sale, when prime lambs sold freely at from 21s to 23s 3d, and medium quality up to 18s 9d. Since then a good amount of; 'business has been done, by private treaty lip to 7d per lb for prime freezers, end’ a further rise ia viewed as probable. This improvement in fat lambs has induced a demand for lambs in forward condition, and sales have been made at from 13s 9d to loa, according to forwardness. Other sheep have not participated to any extent in the improvement, though a line of sound-mouthed ewes, jwith lambs at foot, realised 10s 6d, all counted. At the weekly sale the best fat wethers reached up to 21s, and others touched as low as 17a, while the best price obtained for fat ewes was 14s 9d, and there was a tailing off of prices according to quality down to 10s. Sales of sheep by private treaty have been made at the following orices: —Medium wot here in forward condition, from 14s to 15s; two-tooth ewes, 14s; agod_ ewes, Bs. There is practically no business passing in cattle, even fat animals being in small request for the time being. Light-weight fat steers have been sold under the hammer at from £3 2s 6d to £5 7s 6d, rr’HE Farmers’ paper—Th© AgncuiI tural Department of the Otago Witness ia acknowledged to bo unequalled by that of any other Weekly in the Dominion.

SOUTHLAND MARKETS. ! (From Ovn Own Correspondent.! INVERCARGILL, January 28. Oafs.—There has been a slight improvement in the market for oats during the week, values having advanced up to 2a lid for B's and 3s for A’a,i f.0.b.5.i., Bluff, while some merchants have refused to sell tho latter at less than 3s Id, and I hear that some- business was done at this figure. Such prices would give farmers, for now oats on trtcaa, Backs extra, rather better than 2s per bushel. The Wingatui, at present loading at Blutf for northern ports, is taking rather mare oats than usual, and this will leave “the stores on the bare side, stocks being now down to a small compass. Chaff.—Considerable quantities of chaff are offering by growers, and as there is little demand, oven locally, merchants are by no means inclined to operate even at £3 10s on trucks for really good quality. Ryegrass.—Except for a few odd lots coming from lines held for retail business, moot {if this ecpd has more or lens been disposed of. _ Prices for heavy-weight new seed, it is anticipated, will be within the neighbourhood of 2s 3d per bushel; fair ordinary s ßeed, about 2s, and light sorts owing to the predominance of this quality in north Canterbury. Stock.—The slock market has improved considerably during the past week, especially in stare Lambs. Prices for fat lambs are much better, and this, of coups©, will enhance tho value of stores. There is a fair inquiry for young ewes; also for full-mouth breeding ewes. The market for store, cattle remains about the Game, but prices for fat cattle have gone up roughly about 2s 6d per 1001 b. There is an abundance of feed in tho province, and there are very few store sheep offering at present. • The following prices may bo quoted:—Pat sheep: Pat lambs, from 20s to 22s Gd for extra good sorts; average prime, from 18s bo 19s 6d; lighter sorts, down to 16s; extra prime ewes, from 14s Gd to ISs Gd; average prime, from 13s to 14s; inferior sorts down to lla. Store sheep; Extra forward m.e. lambs, fit to go on rape, from 13s to 16a; average lambs, from 10s 63 to 11s Gd; inferior, down to 7s; four, six, and eighttooth ewes, with lambs at foot—nothing offering; full and . foiling-rootith ewes, with lambs at foot, from 8s to 10s; extra good, up to 12s; two-tooth wethers, from 13a to 14s; ordinary sorts, from 9s to 10s. Fat cattle: Extra prime bullocks, from £lO 10s to £ll 10a; average prime, from £8 10s to £3 10s; unfinished sorts, down to £3 10s; extra prime cows, from £4 to £5; average, from £3 to £4. Store cattle; Eighteen-month-old steers, from 30s to £2; two and two and a-half year old steers, from £3 to £3 15s; three and four-year-old bullocks, from £4 to £4 10s. Hairy' oowa are slightly easier, owing to the fall in tho price of butter-fat; in fact, unless extra good sorts, they aro very hard to quit. ■ THE FRUIT AND PRODUCE MART., Reilly’s Central Produce Mart, Ltd., report:—Pull supplies of apricots, peaches, nectarines, greengages, bottling, jam and dessert plums, dessert pears, and Nelson, local hothouse, and Christchurch tomatoes. Pjenty of vegetables of all descriptions—Beans, carrots, potatoes, onions, etc. Poultry in abun--1 dance. Butter is in full supply, and eggs rather inclined to improve in price. , Bacon is lower in price, and the demand few page is not keen. Special facilities for tho careful housewife to secure all supplies of bottling and preserving fruits, eggs, etc. The following prices were ruling during tho week: Grapes, Is lOd to 2s. Black currants: Scarce, Gid to Bd, Red currants, to 7d. Cherry plums, to 3dL Plums: Dessert, 2Jd to 4d; bottling, 2d to 3d; cooking, lid to 2d; greengages, to 4Jd, .Peaches: Dessert, to sd; cooking, 2id to 3d. Apricot®: Dessert, to Ed; coolring, 2id to 4d. Nectarines, 3d to 53. Loganberries, to lid. Raspberries, to Is Jd Tomatoes: Christchurch firsts, 9d to lid; eeoonds, 4d to 7d; locals, 1® 3Jd to Is sd; Nelsons, 6d to 9d. Gooseberries; No demand; green, to 2J3; ripe, to 2id.' Rhubarb, to 3d. Mushrooms: Fresh-cut, choice, 3d to lOd; slightly damaged, to 6d; inferior and stale, unsaleable. Green pecs: Choice, to 3d. Beans; Butter and French, 3Jd to 6d; broad. Id, New potatoes: Locals, Id to IJd per lb; Oamaru, 7s Gd to 8s cwt. Hothouse encumbers, 7s Gd to 10s Gd; email, 3s ’Gd to Es. Lettuce: Choice, to Is Gd dozen. Apples: Choice Stunners, 9s to 10a; new season’s, Ed to 7d per lb; cooking, 9d. Pears: New season’s, 3d to 4d. Lemons: American “Pacific" brand, 47s Gd. Orange?; Best navels, 455. Bananas: Green, 20s; ripe, to 40s. Peanuts; Best quality shelled, GJd; unshelled. Gid to Bd. Preserved ginger. Is Id Butter: Slow sale; 9d to lid. Beeswax, to 2s Honey; Sales difficult; bulk, Gid to 7d; sections, choice, IQs to 12s Gd dozen. \Bacon, Is Id to Is 2d. Bacon, pigs; Choice, to Gid; choppers, 2id to Bd. Eggs: Stamped, Is 4d; cased, la 3d. Cauliflowers, to 9s for choice; email,' inferior, 3s. Cabbage, to Ss for choice. Onions; Auckland, 14s; Canterbury, 12s. Carrots, 6s Gd to Bs. Tallow, to 21s; prime, 26s pox cwt. Manuka firewood (in Sin .lengths), 3s Gd per bag, bags sin. Poultry: 299 hens realised 2a 8d to 8s; - oi pullets, 16s; 160. oockerelo, 2s to 8s; 14' chickens, Is 2d to Is Sd; EE 'ducks, 7s Gd to 11s, all at per pair. S. OSWALD REILLY, Managing Director, Moray Place,_ Dunedin. NEW COMPANY REGISTERED. Invercargill Milk Supply Company, Ltd. Registered! as a private company, January 16, 1922. Office: Invercargill. Capital: £6OOO into 6000 shares of £1 each. Subscribers: W. Dey 5000, H. Carroll 1000. ’ Objects: Dairy produce and milk supply.