COMMERCIAL.

Otago Daily Times, Issue 18590, 26 June 1922, Page 4

COMMERCIAL.

Daily Times Office, Saturday morning. Dessicated coooanut is meeting with a good demand. A parcel is on board the Paloona, this being transhipped at Melbourne. Advice by cable states that a sharp advance in prices has taken place on tho Ceylon market. The Paloona is also bringing a supply of Havelock tobacco. Tho Waikouaiti, from Sydney, is bringing transhipments of tea. The Burmah candles expected by this vessel were short shipped They cannot now como to hand for two or three weeks. Sales of xioo are on the slow side. The new season’s rice, which is dressed in Sydney, is expected to arrive within the next few days. New season’s hops, from Nelson, have reached the market. The quotation is Is per lb lower than that for the last season's crop. Honey meets with a sound inquiry. A shipment of American tinned tomatoes, twos, is quoted at 9s 6d to 10s per dozen, according to quantity. Caustic soda is short on the wholesale market. Merchants have no advice when the next shipment will come to hand. A fairly large quantity of caustic soda for tho local market was lost in the Wiltshire. Advices from Singapore state that the market for sago and tapioca continues in its usual unsettled condition. It is under* stood that the next parcel will not ; come forward till the end of July or tho beginning of August, „ Stocks of cornflour are in small compass. A quantity for the Dunedin market was on board the Wiltshire. A parcel of Brown’s, Glasgow, is duo in three or four weeks’ time. Cheese has advanced in price. Highlander unsweetened milk is now off the market, and is being replaced by the company by Ideal unsweetened. - The quotation is 40s per case. The West Cherow has a cargo of Laurel kerosene. Orders will be executed ex wharf at Is per case lower than if taken delivery from store. Further supplies of motor spirit and benzine will be discharged ex the motor vessel Hauraki, due here on Tuesday. The Wingatui has a further supply of sugar for tho local market. The next parcel will arrive in about a fortnight from now. Chairman cigarettes, 10’s, cartoons, are quoted at 42s 6d per 1000.

LONDON MARKETS. Press Association—By Telegraph—Copyright. LONDON, June 24. (Received June 25, at 5.5 p.m.)Cotton: July shipments, 12.97 d per lb. Jute: June-July shipments, £36 ss. Hemp: June-August shipments, £3l. Rubber: Para, 9|d; plantation and smoked, 72d to 7Jd. Copra: June-August shipments, £23 15s. Linseed oil, £42 10s per ton. Turpentine, 119 s pier cwt. Sheep: Now Zealand—Canterbury, light, 7Jd; medium, 6|d; heavy, 6Jd; North Island, 6gd to 6Jd; ewes, SRL Australian—Firsts, 5Jd; seconds, 5Jd; ewes, 5Jd. South American —Light, 6gd; heavy, Sid; ewes, 4Jd. Patagonian—Light, 51d; heavy, sd. Lambs: New Zealand—Canterbury, seconds, 10|d. Australian, best, 10id. Patagonian, firsts, 9|d. Now frozen beef: New Zealand—Fores, 2Jd; hinds, 4Jd. Australian—Hinds 4Jd. Argentine—Hinds, 5Jd. —A. and N.Z. Cable. Chilled Argentine fores, 4d; hinds, Bd. Uruguay fores, 3Jd; hinds, 7d. Others unchanged.—A and N.Z. Cable. NATIONAL BANK’S DIVIDEND. LONDON, June 23. Tho National Bank of New Zealand, after paying £15,000 as a bonus to the staff, made a net profit of £328,621. The dividend is 12 per cent., with a bonus of 2 pier cent, tax free. The amount placed to tho premises account is £30,000, to reserve £IO,OOO, to the pensions fund £6500, and the sum earned forward is £142,121. —A. and N.Z. Cable. LONDON SHARE MARKET. Press Association—By Telegraph—Copyright. LONDON, June 24. (Received June 35, at 5.5 p.m.) Waihi Grand Junction, 7s.—A. and N.Z. Cable. THE WHEAT MARKET. Press Association—By Telegraph—Copyright LONDON, 'June 24. (Received June 25, at 5.5 p.m.) Wheat cargoes are firm in sympathy with American end Argentine cablegrams. Sellers are asking Is advance, but tho United Kingdom consumers do not follow. Cargo ox Magdala, 535; ex Vicego Plorio, 51a 3d. An Australian parcel en paissago is quoted at 52s 6d, and a parcel at Liverpool ex AngloEgyptnan at 52s. —A. and N.Z. Cable. TASMANIAN APPLES. Press Association —By Telegraph—Copyright. , LONDON. June 24. (Received June 25, at 5.5 p.m.) The Hobson Bay’s and Berrima’s Tasmanian apples arc selling at from 10s 6d to 13s. Some of tho Hobson Bay’s consignment were over-ripe and wasty, fetching from 7s to 8s. —A. and N.Z. Cable. LONDON WOOL SALES. Press Association—By Telegraph—Copyright. LONDON. Juno 21. (Received June 25, at 5.5 p.m.) At tho wool sales there was a better selection. Merinos met with a strong home and Continental demand at full rates. Crossbreds were in fair demand from the home trade at full prices, but there were some withdrawals owing to high reserves.—A. and .Z. Cable. LONDON WOOL SALES. Messrs Murray, Roberts, and Co.. (Ltd.) have received tho following wool market cablegram from their London ogents, dated 23rd inst.: —"Merino, medium to good, market very firm; top-making market irregular; scoured merino pieces suitable for Continent, market firmer, Croasbrcd, fine to very fine.

market firm; greasy and scoured medium and coarse crossbred, market weak and irregular. Wools suitable for spinners and Scotch trade advanced 6 per cent.”

NEW GUINEA DEVELOPMENT. LONDON, Juno 23. Meetings of ordinary and preference shareholders in the British New Guinea Development Company approved of proposals to wind up and to form a new' company, with a capital of £875,000. The directors pointe<4 out that unless this scheme or some reasonable alternative was adopted the debenture-holders would appoint a receiver, in which event it_ was to be feared that the shareholders’ interests would be entirely extinguished.—A. and N.Z. Cable

FROZEN MEAT AND TALLOW. The Now Zealand Loan and Mercantile Agency Co. has received the following cablegram from London, dated 21st inst.; Tallow: Wo quote, present spot values for the following descriptioms—Fine mutton, 40s 3d per cwt; good beef, 38s 9d; mixed, 35s 3d. Market active. N.Z. frozen meat: Lamb, ll|d per lb; ©we, light s}d per lb, heavy 5Jd per lb; wether and maiden ewe, light 7d per lb, heavy 6d per lb. Market dull, with downward tendency. Beef is unchanged.

OAMARU MARKETS. ' (From Oue Own Correspondent.) OAMARU, June 24. There is no change of any moment to note in the local grain and produce market. There are plenty d offers of prime milling wheat, representing more recent threshings, but there are very few buyers, and these only on a limited scale. Local millers are all well stocked, and it is stated one miller has already bought nearly as much wheat as will keep his glisters busy to the end .of the season. Another has exhausted his warrants, and is restrained from making further purchases. Northern millers arc off the market in the meantime, and southern are buying only to meet early requirements. Thus business in the meantime is small, with little prospect of improvement for tho next three or four weeks. Gate show no improvement, and any change in tho market is adverse to growers. There is really no confidence on the part of merchants as to the future, and any possible speculative buying is curbed by the discovery that the damage done by rain to the Southland oat crops was not nearly as serious in the aggregate as was anticipated, losses on tho" one hand being largely recouped on the other by heavy yields. There are many sellers, but few of them are prepared to recognise that current prices represent true values, and they are holding firmly. Tlie few sales reported wore made at the following prices, net to growers;—Good milling Gartens, 9s Gd at country stations and 2s 7d delivered in Oamaru; A grade Gartons, 2s 4d and 2s 5d at country stations; seed Algerians, 2s 3d and 2s 4d at country stations. Barley of both varieties remain a dead letter. Several samples of cowgrass seed have readied merchants during the week. These vary greatly in quality, and there must be a wide divergence in price. So far, however, no sales have been made in the open market to determine values, but a private sale is reported at lOd, and that is viewed as about the top value, with prices ranging to 8d or possibly less according to weight of seed and cleanness. The stock market is still exceedingly quiet, mainly because cf the freeziug works being closed as a consequence of the slaughtermen’s strike. There is a good supply of fat sheep and hoggets, but tho outlet for them is restricted 1 to butchers. _No fat lambs or Jtoggets wore offered at this week’s market sale, and the small offering of other “fats” suffered a drop in valuer to effect a clearance, wethers going at from 17a to 20s 6d, and ewos at from 14s to 16s. By private treaty, however, a line of 200 fat wethers wias placed at 255. There is an unsatisfiable demand for good young breeding ewes, but there are no sellers. At a clearing sale at Windsor 160 six and eight-tooth ewes found a buyer at 26s 3d, but these were good sheep. Sales of sheep made by private treaty have been as follows. —Mixed four, six, and eighttooth ewes, 24s 6d; aged ewes, 13s to 16s 6d; good halfbred. ewe hoggets, 21s; 300 fat and forward owes, 13s. There has been nothing doing in cattle by private treaty. There is a little inquiry for dairy cows and heifers just at profit, with a few offering. Buyers and sellers have been unable to harmonise their ideas of values, and business has halted. At the Windsor clearing sale cows, due to calve in September, sold at from £6 to £9 10s, and heifers at from £5 to £6 ss. The only store cattle offered at the weekly market consisted of a pen. of 18-months-old steers which wont at 375, wljil© at the Windsor sale two-year-old steers realised £3 ss, and yearling heifers 30s.

SOUTHLAND MARKET REPORT. (From Odk Own Coerespondent.) INVERCARGILL, June 24. Oats.—The market is still a shade easier, merchants being disinclined to operate at anything over 2s 2d for A grade, and 2s for B’s, with Id to 2d loss for “g.f.aiqs.”; still lower grades are well nigh unsaleable. There is very little business passing with northern merchants, and it seems as if values must come still lower, B grade now being quoted at 2s 9Jd, f.0.b., s.i., northern porta. At such figures merchants would require to reduce their buying rates by about Id per bushel. Chaff. —Considerable quantities are offering, but the majority of this is poor quality. In sympathy with oat values, prices have receded and £3 5s is the maximum price on trucks for prime quality. Farmers show little inclination to accept these figures, but merchants are able to get sufficient for the small demand that exists. This demand is

considerably reduced by the large quantity of low quality being sent in to the auction rooms. Ryegrass.—Although there is something m the nature of a falling off in inquiry from the north, tho market is fairly well maintained, but it is only in rare instances merchants arc willing to pay the recent rates ot 3s Gd for well-dressed 251 b seed from the mill, lower grades bringing much reduced prices, for example, 221 b being worth little more than 3s on trucks, and this naturally depends to some extent on the "way it has been treated by the mill. Stock.—During the past week the ■ stock market has remained practically unchanged, in fact, things are very quiet, little or no stock offering privately, and as we have held only a few sales during the week little is being done. Wo expect the freezing works to open next week. This, of course, will help to. liven things up. In most cases graziers are holding on -to their store sheep until after tho winter. There appears to be plenty of winter feed in Southland at present. The following prices may be quoted!:— , , , Pat Cattle—Extra prime ox beef, from 21s to 22s per 1001 b; average prime, from 17s Gd to 19s Gd; heifer, from 15s to 16s; cow, from Hs to 12s Gd; extra prime bullocks, from £l2 to £l3 2s 6d; average prime, £7 15a to £8 10s; unfinished, down to £5; extra prime heifers, from £7 to £8; average prime, from £5 to £5 15s; unfinished, £3 10s; extra primo cows, from £4 10s to £5 10s; primo, from £3 15s to £4 ss; unfinished, £2. . Store Cattle.—Three and four-year-old bullocks in good condition, from £1 5s to £3 ss; two and two and a-half year olds, from £2 10s to £3 Da; yearling and 18-month-olds, from 20s to 335; dairy cows, factory calvors (due September and October), from £7 to £8; cows at profit, up to £l2 for extra good sorts; empty cows in poor condition, from 20s to 355; fresh-conditioned cows, up to £2. •Fat Sheep.—Extra primo wethers, from 28s to 29s Gd; prime, from 2Gs to 27s 3d; light and unfinished, 21s; extra prime ewes, from IGs to 17s Gd; average primo, 14s to 15s Gd; unfinished, 10s. Store Sheep.—Four and six-tooth wethers in good condition, 19s to 20s Gd; two-tooth wethers, 16s to 17ft; unfinished, 14s; twotooth owes (very few offering), from 22s to 23s Gd; extra good four and six-tooth ewes, from 25a to 26s Gd; six and eight-tooth ewes, 18s to 20s; extra good, up to 235; F. and P. ewes, from 12s to 14s; low-conditioned ewes, from 7a 6d to 8s Gd; extra good hoggets, 14s to 15s; average, from 11a Gd to 12s Gel; poor and inferior sorts, down to Ba.

AGRICULTURAL LEASES. SALE BY AUCTION. On Saturday the Perpetual Trustees, Estate, and Agency Company sold at the upset rate the following agricultural leases on behalf of the Dunedin City Corporation: Allotment 2 of sections 1-3 and 7, block 11, East Taieri district, comprising 5 acres 2 roods, at present held by S. Horner’s executors. The upset rental for the new term of 21 years is £5 per annum, and the valuation for improvements £727. Allotment 10 of sections 1-3 and 7, block 11, Bast Taieri district, comprising 5 acres 2 roods, at present held by S. Homer’s executors. The upset rertal for the new term of 21 years is £5 10s per annum, and the valuation for improvements £3l. Section 4, block 111, East Taieri district, comprising 51 acres, at present held by Mr G. M'Donold. The upset rental for the new term of 21 years is £B9 5s per annum, and the valuation for improvements £215. Sections 3,4, and 5, block XX, Waihola, comprising 150 acres, at present held by Mr W. Bell. The upset rental for the new term of 21 yjara is £SO per annum, and the valuation for improvements £730. Sections 1,4, part 2 and 3, block I, North Molyneux district, comprising- 216 acres 3 roods 26 poles, at present held by Mr Wm. Marshall. The upset rental for the new term of 21 years is £6O per annum, and the valuation for improvements £730.

NEW COMPANY REGISTERED. The Mercantile Gazette notifies the registration of the following company: Kilvoy and Sutherland, Ltd. Registered as a private company, December 13, 1921. Office: 192-200 Princes street, Dunedm. Capital: £6OOO into 6000 shares of £1 each. Subscribers; Dunedin —M. E. Kilroy 45C0, R. J. Kilroy 500, A. B-. Kilroy 500; Hamilton —W. E. Kilroy 500. Objects: To acquire and take over as a going concern the business carried on at Dunedin under the name or style of “Kilroy and Sutherland,” and to carry on the business of costumiers, robe, dress, and mantle makers, and all businesses of a like nature.

THE FRUIT A NO PRODUCE WORLD. Reilly’s Central Produce Mart, Ltd., report:—The market is clearing of the better quality dessert apples, and any good samples of Delicious, Jonathans, and Cleopatras are commanding better values. Cooking apples are fairly plentiful, and inferior lines are difficult to quit. Pears continue in short supply, and choice Winter Nolis and Coles arriving immediately would command high values. Narcissi, from the north, are meeting better demand. Vegetables are scarce, particularly cauliflowers. The market is fully supplied with eggs and honey. Bacon pig's continue to arrive freely. Poultry are short of requirements. Wo received and sold: Violets, to 6s Narcissi: Paper whites, 5a to 6s per dozen. Grapes: Wanted, to Ss. Tomatoes: Christchurch hothouse, Is to la 2£d: locals, la 8d per lb. Celery, 6d to 9d. Beetroot, Is dozen. Apples: Choice Delicious, to 18s; Munroe, 7s; Cleopatra, to 9s; Jonathans, to 10s 6d; Lord Wolseleys, 8s; other desserts, 5s 6d to 7s 6d; cooking, 4s to 6s 6d. Pears: Winter Coles,'to fid; Winter ’ Nelis, to sd; Easter Beurre, 2|d, P. Barry, 3d. Pineapples, to 24s 6d. Lemons: American Pacific, to arrive; Adelaide, 255. Passions; Australian, 235. ,6d. Oranges: American, 445; Tahiti, 22s 6u. Mandarins; Australian, 245. Bananas: Ripe,

30s; green Suvas, 255. Peanuts; Beet quality, shelled, Gd; unshell#d, Bd. Walnuts, la 3d to Is 4d. Almonds, Is Id. Butter: Daii - }', to la 4d; milled, la 4d. Honey: Bulk, to CJd per lb; sections, 8s to 11s; Jib pats, 4s 6d to ss; lib pats, 9s Gd dozen; 101 b tins, Gs to 7s Gd each. Beeswax, Is 6d, Is 9d. Bacon pigs: Prime porkers, Gd: baconets, to Gd; heavy-weights, to 5d • choppers, to 3Jrt. Golden Bay bacon: Rolls, Is’i bams. Is; boneless hams, Is 2d per lb. Hargreaves’ "choice canned pineapples, 21a. Eggs: Stamped, Is 9d; cased, Is 7d to Is 8d; preserved, Is 4d. Cabbage, to 2s 6d. Rod cabbage, to 3s. Cauliflowers; Wanted, to 9s per dozen for choice. Vegetable marrows, to 11s sack. Pie melons, to iGs. Pumkins, 10s Gd. Onions; Canterbury, to 12s. Carrots, to Gs Gd. Parsnips, 7s. Potatoes: Oamaru, to Gs; Taieri, to 7s Gd cwt; prime quality. £5 ss, ex truck; others, to .£4 10s. Swede turnips, to 30s per ton, ex truck. Tallow, 18s to 24s cwt. Poultry; Hens realised Ss 4d to 9s Gd; pullets, 133 to 17s; cockerels, 5s 4d to 10s; ducks,. 7s to 9s Gd; geese, 7s to 7s Gd (all at per turkeys, BJd to 9J<3 per lb.

E. OSWALD REILLY, Managing Director, Moray Place, Dunedin.