COMMERCIAL.

Otago Daily Times, Issue 18612, 21 July 1922, Page 4

COMMERCIAL.

LONDON MARKETS. Press Association— By Telegraph—Copyright. LONDON. July 18. Banks: Union, £l3 ss; National of New £6 la 3d; Now Zealand, £B9 ana £2 10s 6d; New Zealand Loan and Mercantile debentures, £7B. _ . The wheat cargo market is disappointing, in view of the American and Canadian weakness. The Ska gem’s cargo realised 52s 10id and the Benalder’s 66a 3d on Russian terms. Steamer parcels are steady. Australford!, on passage, 53s 3d; Queen Margaret, on passage to Manchester, 53s Gd. Consols, 59. , „ Waihi shares: Buyers, 28s 9d; sellers, 81® 3d. Waihi Junction, 8a 9d. —A. and N.Z, Cab^e- LONDON, July 19. (Received July 20, at 9.20 p.m.) At the mixed wool sale in London there was a poor selection of merinos and a moderately good lot of crossbreds. There was a strong, active demand from all quarters at full opening rates. Tho “Strathfiold clip realised 18d. , . _ „ “Bawra’s” statistics of wool at June 30 last showed in stock and afloat 1,300,606 bales, comprising Australian merinos 202,527, crossbreds 650,141; New Zealand merinos 2516, crossbreds 427,098; South African crossbreds 18,324. At tbe tallow sates 932 casks wore offered and 875 sold at about 18d advance. Fine mutton, 42s per cwt.; medium, 37a 6d. Fine beef, 41s 6d; medium, 87s 9d. Waihi Junction shares, 9s 9d. Wheat cargoes are steady with a good demand for near positions at increased prices. The Ardoyne’s cargo sold at 53s 6d, a Panama transport 63s 6d. Steamer parcels are weaker on an American decline; parcels afloat 53a 3d.—A, and NY. Cable. TEA SALES. COLOMBO, July 19. At the tea sales prices for good ports and dusts were well maintained. Poor classes showed a downward trend, and prices fell from half an anna to an anna. —A. and N.n. Cable. ■ LONDON WOOL SALES. Messrs Dalgety and’ Co., Ltd., report having received the following cable from London, dated July 18: “The number of buyers is large, average selection. .Continental buyers are operating freely. As compared wtih London s last sale's closing rates: Merino wools, super, greasy, par to 5 per cent, higher; merino wools of other descriptions, market unchanged ; merino wools, scoured, a change u any, is in buyer’s favour; crossbred wools, fine quality, greasy, 5 per cent, higher; crossbred wools, medium and coarse quality, greasy, market unchanged; crossbred wools, scoured!, 5 per cent, higher; slipe wools, fine crossbred, 5 per cent, higher; medium and coarse crossbred slips wools, firm, unchanged. Next public wool sales will take place on September 5; tho Hat of arrivals is closed, May 26; quantity to be offered 16,754 bales Australian, 37,000 bales New Zealand, 2000 bales Cape; probably 50,000 bales Bawra, 10,000 bales Punta Arenas. The following scries open October 10, quantity to bo offered 27,009 bales Australian; 47,000 bales New Zealand, Bawra probably 64,000 bales. List closed July 6. ... “The following steamers have arrived in time for tho September sales:—Port Curtis, Athenic, Port Adelaide, Kia Ora, Port Bowen, Corinthic, Pakeha. . . “The following vessels have arrived in. tome for the October sales:— Remuera, Buteshire, Waiwera, Zealandic, Baranaga, Tainui, Admiral Codrington, Waimana.” Messrs Murray, Roberts, and Co. have received the prices of New Zealand wools in London at the opening of the July oencs. Compared with the end of the previous series in June, prices are more or lees stationary. WELLINGTON WOOL SALES, i (7>lra .t.'WITKIi t-RXSM •' •-vT/OM.) WELLINGTON, July 20. At the wool sales mostly crutcbingß were offered. There was a large attendance, and there was keen competition. LONDON TALLOW SALES. Messrs Dalgety and Co., Ltd., report having received tho following cable from London, dated July 19;—“930 casks tallow offered; 880 casks tallow sold. Fine mutton, 42s per cwt.; good mixed. 405.” AUSTRALIAN BEEF. Tho Australian Meat Traders’ Journal says:—“All the speeches in London by High Commissioners, Agente-general. Trade Commissioner, and visiting Australians interested in our export trade will have no effect on tho consumer who wishes for the best quality of meat. What these men should do is to visit the country that has beaten us in our beef trade, and find out why they have. They have no means of comparison who only Australian methods know. They, with rare exceptions, do not know that Australia’s system of treating live stock from their homo to the meat works and then to the ships, is absolutely obsolete. Everything is done that should not bo done, and by the time live cattle are frozen are mostly depreciated 30 per cent, in quality, Tho loading is wrong, the conveying in tho train wrong, the slaughtering is slack; in fact, as compared with what is done in Argentina or Uruguay, is absolutely antediluvian. Meetings are being held continually in Australia, but almost without exception those comprising the meetings know nothing beyond the area of their own back yard. It is no' use Bending Government officials to see what is being done; their billots depend on their repotting that everything here is the best, and so we have lost our bsef trade. Many years ago the writer, after visiting Argentina, pointed out that we were doomed to defeat unless wo improved our methods, but the Australian press ridiculed it.” THE CORNWALL’S APPLES. Mr H. Turner has received the following cable from tho High Commissioner, under date London, July 15.—Cargo of applee by s.e, Cornwall unloaded in excellent condition, especially Otago shipment. Only portion

of cargo yet disposed of, but at good prices. Otago fruit; Cox’s Orange 22a 6d, Stunmer 18a to 19b, Jonathan 16s to'l7s, Delicious, etc,, 18s. Oother districts: Stunner 17s to 18s, other varieties 16s to 18s. PROPERTY SALE. Messrs Alex. Harris and Co. submitted to auction yesterday, in the estate of Thomas Kewley (deceased), section 266, Port Chalmers, area 1 rood, fronting Burns street, and it ■was sold to a client for £196. Also, in the estate of Alexander Elliott (deceased), sections 17, 18, 19, and 20, block YIII. Waverley, containing 1 acre 12.7 poles, with a small dwelling thereon, to a client for £306. AUSTRALIAN MARKETS. SYDNEY, July 20. (Received July 20, at 11.15 p.m.) Oats: Algerian feed, local, Tasmanian, 4s, 4s 2d; white, 4e 2d, 4s 4d. Maize: Yellow, 5s 4d; white, Ss 2d. Potatoes; Tasmanian, £9. Onions: Victorian, £l6. ADELAIDE, July. 20. Oats, 3s. 1