COMMERCIAL

Otago Daily Times, Issue 18516, 29 March 1922, Page 4

COMMERCIAL

FOREIGN EXCHANGE RATES. LONDON, March <23. The foreign exchange rates are as follows compared with those last cabled:

LONDON METAL MARKET. LONDON, March 28. (Received March 28, at 10,10 p.m.) Copper: Spot, £6B 3b 9d; forward, £59 Is 3d. Lead: Spot, £2l 12a 6d; forward, £2l 7s 6d. Spelter: Spot, £25 Ba; forward, £25 15s. Tin: Spot, £143 13s 9d; forward, £145 8s 9d. Silver, 3b 9id per oz.—A. and N.Z. Cable. LONDON WOOL SALE'S. LONDON, March 27. The wool sales showed strong competition, there being no sign, of weakness anywhere. There was good French, German, and Yorkshire competition for merinos and crossbreds. The Eetoiti clip brought ISJd. The Bradford market is firm. Business is small, buyers being disinclined to pay sellers’ prices.—A. and N.Z. Cable. SYDNEY WOOL SALES. SYDNEY, March 28. (Received March 28, at 10.10 p.m.) The 15th series of wool sales has closed, greasy merinos realising Slid. THE WHEAT MARKET. LONDON. March 27. (Received March 28, at 8.15 p.m.) The wheat market is dull owing to the total absence of demand and pressure to sell wheat on passage. Cargo quotations are 6d lower. Parcels are weak at 6d to la lower— A. and N.Z. Cable. DAIRY PRODDCE. The New Zealand Loan and Mercantile Agency Company has received the following cablegram from London, dbted 34th inst.: "Butter. —New Zealand, 176 s to 180 s per cwt. Market firm; good demand. "Cheese, 90s to 95s per cwt; market firm." AUSTRALIAN BUTTER. INCREASE IN PRICE. Press Association —By Telegraph—Copyright. MELBOURNE, March 28. In consequence of the improved price of butter on the London market the local price has increased by IJd per lb, and is now quoted at Is 8d per lb. BRISBANE, March 28. Butter has increased from 149 s 4cl to ]63s 4d per cwt wholesale, which represents lid per lb. CANTERBURY PRODUCE MARKETS. (Pm United Press Association.) CHRISTCHURCH, March 28., Broken weather is interfering with threshing, apd there is a lull in the stream of wheat that was coming forward. Recently there has been a bigger proportion of stackthreshed wheat offering, and rejections aro not so heavy. Millers are not yet displaying much anxiety to purchase The bad harvest weather in South Otago and Southland is likely to affect supplies of A grade oats. At present A grade Gartons are worth up to 2s 7d, country stations, in Canterbury, and B’s to 2s 4d. The ryegrass market is firm, and good heavy farmers’ seed is bringing a satisfactory price, but there is not much heavy quality available in Canterbury. Southern grass seed coming to hand is much superior. Potatoes are not so firm as they were a week ago, though for prompt delivery up to £4 16s to farmers bea been paid. For mpin crop the values asked are £3 10s to £3 15s per ton.

DRIED MILK MANUFACTURE. THREE FACTORIES TO CLOSE. (Peb United Press Association.) HAMILTON, March 23. The New Zealand Co-operative Dairy Company has decided to close its dried milk factories at Waitoa, Wahoroa, and Te Aiyamutu for six months from April 7, owing to the fact that sufficient powder has been manufactured to meet trade requirements untu tlie new season’s make is available. Mr William Goodfellow, managing director, said that when at Home recently he found that large quantities of the powder were used, and considered that it had a great future. He also saw indications that the butter market was firm, and that prices were more likely to advance than to recede. The anchor brand was selling at 1925. RABBITSKINS. Messrs Dalgety and Co., Ltd., report having received the following cable from London, dated March 27:—“Pull winters, thm pelts, prime, 122 d to 120 d; thin pelts, slighUy spotty, 82d; medium pelts, prime, 65d; medium and stout pelts, 80d; incoming, 72d; outgoing. 41d to 26d; spring, 41d to 26d: early autumn, 36id; late autumn, 43d; autumn racks, 23d to 20Jd; light racks, 18|d to 18d; milky, fair to good, 25d to 22d; milky, medium to poor, 17d to Hid; kittens and suckers, BJd to 6Jd; black and silver grey (furriers), 139 d; black and silver grey (ordinary), 75d to 57d; fawn, 82d to 42d; 2175 bales rabbitskinfl offered, 1510 bales sold.” STUD AND FLOCK SHEEP. Wright. Stephenson, and Co., in conjunction with Donald Reid, and Co., report, as follows;—On Thursday last we held at Dalclutha Show Ground the annual sale of stud and flock Romney rams and cast ewes on account of the well-known breeders, Messrs Murray Bros. (Clydevale). There * large attendance of buyers from all ow the South Island, and two promnent North Island breeders were represented M ™ 8 * 6 ' The sheep, as usual, were br< Wht o™ u» the pink of condition, and amongst those offered were several pnze-wmnere at the season's principal show* The * P., was realised for a four-shear ram, which had been used for some years with great, success in the vendors’ shed. Thm ram was bred by Mr William Perry and was purchased for the vrell-known W rarapa breeder, Mr G. E. Allen, at 90gs. A splendid shearling ram was secured by Mr D. Robertson (Waikoikoi) for 65g»; Mr J. it Roy (Wainma) secured a fine hold shearling for 52gs; the well-known local breeder, Mr Adam King (Stoney fine shearling at 40gs; Mr A. H. Moffatt (re Houka) bought another grand sheep at 41gs; Mr B. King (Clydevale), 1 at 27§ge; Mr J. R. M’Kinnon (Clinton), 1 at 25ga; Mr John Miller (Maungatua), 1 at 24gs; Mr J. Kirkpatrick (Waikaka), 1 at 2Ugs; and 12 others realised from l€gs to 20ga. The whole of the flock ram's offered sold at from to 6gs. The ewes were cheap, the bulk only Ifgs, the purchasers being Messrs Joseph Mosly (Clydevale) and J. R. Roy (Wairuna). After the sale of Romneys six pens of Border Leicester shearling flock rams wore offered, realising from 4§g« to 6g». The quality of the sheep offered may he readily gauged by the prices obtained, which were very satisfactory under present conditions. SHEEPSKIN SALE. The Dunedin Stockbrokers’ Association report that, good-sized catalogues were offered by the National Mortgage and Agency Company, Stronach, Morris, and Co., Todd Bros., Dalgety and Co., Otago Farmers’ Co-opera-tive, New Zealand Loan and Mercantile Co, and Donald Reid and Co. Good skins met with a good demand, and showed an increase on the previous sale. Quotations follow: Super, halibred, to 9d; halfbred, 7«d to Sid; fine crossbred, 6id to 7d; merino, ?id to crossbred, 4Jd to 6Jd; hoggett, 4|d to 6d; halfbred hogget, to B|d; lambs, 3)d to 4Jd; pelts, Hd to 23d; block, 2Jd to 3d; double fleece, 2Jd to 4d; skin pieces, Id.

London on Par. iLor. 23. Mar. 27. Paris, fr. to £1 ... ,.. 25.225 48.60 48.55 Christiania, kr. to £1 18.159 25.00 20.70 Copenhagen, kr. to £1 ... 18.159 20.60 20.60 Stockholm, kr. to £1 ... 18.159 17,65 16.77 Berlin, marks to £1 ... 20.43 1440.00 1480.00 Montreal, dol. to £1 ... 4.8G 2-3 4.67 4.50i Hew York, dol. to £1 4.86 2-3 4.38} 4.37J Hongkong, dol. to £1 ... * 29gd 29Jd Yokohama, st. to yen ... 24.58 26d 26d Calcutta, at. to rpe. 10 to gold £1 16Jd 15J4 ♦ Determined by price of eilver —A. and N.Z, Cable*