COMMERCIAL.

Otago Daily Times, Issue 18696, 28 October 1922, Page 6

COMMERCIAL.

Daily Times Office, Friday evening. Tho hardening tendency that has been noticeable recently in the London wheat market has been maintained (says the Australasian of October 21). The effect of recent strikes in the United States, since settled, is new being felt, as transport arrangements to tho seaboard have not been fully reorgauised. Hence the demand has been a little more brisk. The feature of tho market in Melbourne last week has been the increase of 2d iu the price of wheat for export floui. That movement is the reflex ot the more profitable nature of business in flour on Egyptian account. Large sales have been made to buyers there, and millers are not in a position to accept much additional business for the time being, m'ati nnd pollard have been quiet, but the renewal of inter-State inquiries has given a firmer tone to the situation. Oats have had relatively littlo attention, but the steadier attitude of sellers has given more stability to tho position. Cable messages from Liverpool state that defective transport facilities on tho United States railways have restricted the supply of wheat for the international markets. lu consequence, there has been a continued firmness in the quotations. Canada is shipping, and tho Continent is taking the bulk of shipments. The Argentine wheat crops are of excellent promise. LOCAL MARKETS. Odd lines of wheat are still being passed by the Government, but the quality has lo be good. Millers are not operating in the meantime, as they have sufficient stocks to see them to tho end of the year. Moreover, flour is slow of sale, bakers apparently holding off for tho lower prices, arranged by tho Government to rule from November. Local wheat brokers were much surpris'd this week when they received an intimation from tho New AVheat Controller that they were committing a breach of tho regulations by selling farmers' wheat to millers at the Government prices fixed for April instead of at the increased price fixed for the present month. The intimation stated that the brokers were making these sales at their own risk, and that more might bo heard of tin? alleged breaches. It is hard to understand why tho Government should take up its present attitude at this late hour, as the fact that brokers were selling at April prices has been repeatedly mentioned in this column. Moreover, at a meeting of tho North Canterbury Executive of tho Farmers’ Union, held ns far back as July, a member brought up the question of wheat growers selling wheat in June at April rates, and it was decided that the then AVheat Controller (Mr AV. 0. M'Donald) should be consulted on the subject. Mr M'Donald furnished the following memorandum:—The increment of j[d per month provided in the regulations was intended for the benefit of tho grower, so as to (as nearly as possible) place all growers on an equal footing in regard to price, whether the grower delivered his wheat to the Government early or late in the season. If a grower chooses to forgo this Jd per month, increment, then (to use a colloquialism) "it is his own funeral”; and it is hard to see how the AAHieat Control Office can prevent it. Growers, however, can rely on tho Government taking over after October 31 any balance of good milling wheat that may L-o left on their hands at the full Government price. In tho meantime wo arc purchasing at the full price as fast as wo can make arrangements for shipping the exportable surplus; and I anticipate that before October 'no good milling wheat, will bf left on tho growers’ bands. I should point out that if a grower forgoes the increment of Jd per month provided by tho regulations, he does not benefit the Government in any shape or form, as the contract provides that the miller pays whatever price is paid tbo grower, plus 9d per bushel.

“Whether the Government has now acted in tlie best interests of growers remains to be' seen. If millers have to pay the October prices they will naturally insist that the wheat shall be of the primest quality. The Government, too, will no cl:>ubt insist that tho “balance o’f good milling! wheat” .at the end of October shall also be of high quality, or else it will decline to buy. The wheat, therefore, which millers are prepared. to take at the April prices will thus bo rejected both by the 'Government and the millers, and growers will have to accept the values ruling for fowl wheat. The fowl wheat market remains 'steady, in consequence of a demand from lire North Island. There is now more fowl wheat offering, and .as plentiful supplies are «UU coming from the country districts, there is a possibility that prices may ease. Good quality is selling to-day at about Is par bushel, sacks extra., ex store, Dunedin, and sales have been mads to tire North. Island at 4s fid f.0.b,, sucks extra. Undergrade lines are being disposed of at 4s to 4s 3d, f.0.b., sacks extra, Dunedin millers' prices are as follow: Flour, 3001 b, £lB per ton; 100’a, £l9; 50’e, £l9 10s; 25’s, £2O. Bran, £5 IQs per ton. Pollard, £B. Oatmeal: 2o's, £18; 20O's, £l7. Milling wheat (prices to the end of February)—According to Government regulations; Tuscan, os lOld, f.0.b.; Hunter's Gs lid; jl't arl, 6s 7|d. The oat market is weak, and although B Guidons have been quoted during the week at 3s , f.0.b., s.i., only small lots have been taken up. A grade axe on offer at 3s 3d, f.0.b., s.i., but the few buyers on the market are only prepared to pay 3s 2d fox prompt shipment. The demand from Australia has fallen, off, owing to the higher prices ruling in tho dominion, and although Louden is still firm no sales have lately been recorded for that market. It is reported that the shipping companies do not intend to impose the proposed increase of 5s per ton for November, and flits may enable sales lo bo made to London. The demand for undergrade cats is on the quiet side. These are selling at 2s per bushel, sacks extra, ex store, Dunedin PRODUCE REPORT. Fair-sized consignments of ohaff have come to hand during the week, and as mast of the buyers are fully stocked it is difficult to maintain late rates. The quotation a few days ago was £4 15s per ton, but £4 10s lias now to bo accepted for the best quality; this price being sacks extra, ex truck, Dunedin. The stores arc still holding largo quantities of poor quality. This meets with a very weak inquiry. Prices nominally aro £2 10s to £3 10s per ton, sacks extra, ox store. Consignments of old potatoes are now beginning to arrive from Canterbury. The market has weakened us a consequence. Odd sales have been made at £8 per ton, sacks in, ex truck, Dunedin, but this price is not maintained to-day. Best quality is now quoted at about £7 10s per ton, wifi) s slack inquiry. Tho greater proportion oi the tubers coming from Canterbury aro of inferior quality. These aio being offered at £6, with few buyers desiring to operate. Eggs are in plentiful supply. Prices remain unchanged from last week. Dairy butter shows a further drop in price. Tho prices of bacon and hams remain unchanged from last week. Current local wholesale prices are as follow: Chaff; Good quality, to £1 10s; medium and light, £2 10s to £3. Potatoes, to £7 10s per ton. Eggs: Stamped, Is Id; plain, lid to Is. Dairy butter; Bulk, Is 2ld; pats, Is 2d; milled, Is 24d. Onions; Melbourne, to IPs 6d, Bacon: Rolls, HJd per lb; sides, IOJd. Hams, Is Id; boneless, Is 3d. - FRUIT REPORT. Business ha-s been fairly brisk in the fruit marts during the week. Good dessert apples are scarce, and any choice lines meet a ready sale at high prices. The market is biuo ot cookers. \ Tneso also have a toady sale. Stocks of citrus fruits are at present off tho wholesale market. Sydney oranges, mandarins, and passions are. due ex the Whangapo, railed from Lyttelton, within tno next two days. The Paloona. duo early next week from Melbourne, has a fairly largo shipment ot oranges and navels for the local market. Rarotongan bananas and tomatoes, ex

Maungnnui, should reach the market about the middle of next week. They should meet a quick sale. A few pounds of new season's green P? as have come to hand, and been sold at iugJ prices. Lettuces are in plentiful supply. Cauliflowers arc scarce. Prices rule very high. Cabbages are also abort on the marj bet. Good-hearted are worth abbut Gd per I head wholesale. A small lot of kumcras arrived from Auckland by the AViugaiui, end realised up to 13s per case of about GOlb. Now Aucklandgrown potatoes arrived by tiro same boat and sold at up to 4d per lb. Local ygrown new potatoes are in good supply. Prices for these have ranged from 6(2 to Is per lb. Current wholesale prices arc as iollow; Apples: Stunners, extra choice, 12s to 15s; good, 9a to 10s; small, 7a Gd to Ss Gd;; Lord AVolselcy," 10s per case. Lemons: Auckland cured, 21s 6d to 23s 6d. Pines, ISs to 22s Gd per case. Oranges: Adelaide, to 225; Navels, to 2as; Sydney, 22s to 23a Gd. , ■ Table carrots, 5s per cwt; Is per dozen bunches. , , , Rhubarb, to 2s Gd per dozen bunches each of lib; loose, lid to 21d per lb. Lettuce; Small, Is to 2s per'dozen; medium, 2s to 2s Gd; large, 3s to 3s Get per dozen. Spring onions, 3d to 4d per bundle. Radish, Od to 9d per dozen. Asparagus, 9s to dozen blmches. Spinach, 8d to Is per dozen bunches. Leeks', Id per bundle of six bunches.

Parsnius, 5s per cwt. Cauliflowers; Special, 16s per sack of eight; first grade, to 17s per sack of 12; second quality, to 14s per sack of 16. Cabbages, 10s to 11s 6d per sack of about two dozen. ' New potatoes; Auckland; 31d to 4d' per lb; Peninsula, £d to per lb.

LONDON MARKETS. LONDON. October 26, (Received Oct. 27, at 8.35 p.m.) Butter.—The market is steadier, but trade is slow. New Zealand choicest salted, 208 s; unsalted, 2165; Australian salted, 200 s to 2045; unsalted, 20Ss to 210 s. Cheese.—The market is very firm. New Zealand white and coloured are both about 106 s. The wool sales closed firm. Yorkshire and France throughout operated freely. There has been strong competition on account of tho United States, and fully 99 per cent, of tho offerings were sold. All classes of merinos steadily appreciated throughout, and closed 19 to 15 per cent, above the September rates. Fine crossbreds were in keen request, especially for the United States, and closed 15 to 20 per cent, up; medium, 10 to 15 per cent; and low, 7J- per cent. up. Slipea and scoured were also strongly competed for by Home buyers and the United States. Fino was 30 per cent, up; medium, 15 per cent.; and low and shabby, 10 per cent. All lambs were 5 to 10 per'cent. up. The Bradford market is quiet and firm. Sixty-four's, 63d to 62d1; G2's, 54d to 55d; 50's, 26d.—A. and N.Z. Cable. AUSTRALIAN MARKETS. MELBOURNE, October 27. At the hides sales reduced offerings wore submitted. Tho value of all wcll-got-up parcels of heavies and mediums were from par to id dearer, whilst lights and kips were id lower. Barley: English, 3s 9cß to 3s lOJd; Cape, 2s lOd. Oats, 3s 7d to 3s Bd. Potatoes, £0 to £ 7, ; Ouious, £ll 10s to £l2. CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH. October 27. Business is unusually brisk in the produce trade for this time of the year, and the indications are that it will continue so for some time. White clover, ryegrass, and oowgrass are in keen demand, and fowl wheat is selling freely. Oats are very firm. Algerians being sought by Australian buyers. There is keen inquiry for bran and pollard on Australian account, but the supply W insufficient to meet all orders. . Orders have fallen off for potatoes, and there is no movernent from the country. Now potatoes ore on the market, but tho high prices preclude a groat amount of business being done. The demand for cocksfoot is practically dead. LONDON WOOL SALES. Messrs Dalgety and Co. (Ltd.) report haying received tlxo following cable from their bead office, London, dated October 26: AVool sales closed firm and active with brisk competition. As compared with last sale's closing rates, merino wools, greasy, 2d to 3d higher; merino wools, scoured, 3d to 4d higher; halfbred wools, greasy, 2d to 3d higher; good, bright crossbred wools, fine quality, 2d to 3d higher; ordinary, crossbred wools, fine, quality, Id to 2d higher; crossbred wools, medium quality, Id to lid higher; crossbred wools, coarse, Ad to Jd higher; crossbred wools, fine quality, scoured, 3d to 4d higher; crossbred wools, medium quality, scoured, 2d to 3d higher; crossbred wools, coarse quality, scoured, 3>d to id higher; slips wools, fino crossbred, 2<J to 2Jd higher; ehpe wools, crossbred, medium quality, lid to 2d higher; slips wools, coarse crossbred, Id to lid higher; lambs wool, Id to IJd higher. Offering amounted to 04,100 hales of free, including 44,525 bales of New Zealand, and 15,500 bales of South American wool; bales of Bawra offered, 45,793. One hundred and eighteen thousand Australasian and 15,500 ot South American were sold, 50,000 to tho Con Uncut, 8000 'to America; 6000 bales held" over and 3000 withdrawn.

The New Zealand Loan and Mercantile A'gency Company has received the following cablegram from London, dated the 26th inst.;

London Wool Sales. —As, compared with last sales closing rates prices are higher about 10 per cent, for merino and! crossbred iambs, and scoured merino super. Higher about 10 per cent, to 15 per cent, for medium and inferior merino and fine scoured crossbred. Higher about 15 per cent, to 29 per cent, for medium greasy crossbred. Tho sales closed firmly to-day. The following are the dates fixed for the coining London sales: —January 23, 1023, March 6, 1923, April 24, 1923, and June 19. 1923. Tho National Mortgage and Agency Company is this morning in receipt of a cable from London, dated the 26th inst: The auctions closed here to-d'ay with a good tone. Compared wiih the close of last sale wo quote;—Best merino, 2d dearer; average merino, 2Jd dearer; halfbreds, 2d dearer; crossbreds, 48<50's, 2d dearer; 46,48'5, IJtl dearer; 44/46’s. Id dearer; 40/14’s, jd dearer, 36/40'e, Jd dearer. EARLY FRENCH BEANS. First pickings of locally-grown’ French beans were disposed of by auction at the Central Produce Mart yesterday at the remarkable price of 2s 2d per lb. . These beans have been marketed about a month in advance of tho usual date. WOOL OFFERINGS. LONDON, October 25. “Bawra” announced that 20,000 bales of Australian and New ZealaryJ wool would be offered at Hull on November 9, and 31,000 bales at Liverpool on November 16. —The Times. HIDE SALE REPORT. ' Messrs Wright, Stephenson, and Co. (Ltd.) report as follows:—We field a sale of butchers’ abattoir bides at Burnside yesterday, when we offered a catalogue of 750 hides There was tho usual attendance of buyers, and competition was keen for all classes of hides, values being firm at previous sales’ rates. We had some very nice hides catalogued, our top price in ox being llfd (highest price in Dunedin this week), cows 7£d, and calfskins 13d. We quote; Extra stout heavy ox, 12d to I4jd; stout heavy, 9Ji io 10Jd; medium, Bcl to 8i l d; light, 7Rt to 7gd; stout heavy cows, 7£d to 7Jd; medium, 7Jd to 7Jcl; light, 7d to 7Jd; yearlings, 7d fo 8d; calfskins, 7id to 13d. Messrs Waters, Ritchie, and Co. report as follows; —Wo hold our usual fortnightly salo of hides at our stores, Crawford street, yesterday morning. There was a good attendance of buyers present, and competition was again very keen, with the result that wo cleared our large catalogue nt very satisfactory prices. As compared with the Inst sales, all good conditioned lines ot ox hides in led from id to Ml per lb higher, while other descriptions were without alteration. Wo submitted 2600 bides. Tho following were some of our best prices: —Ox: Four 761 b, Hid , seven 78lb, 12(sd : throe 80lb, IQd ; sixtyone 731 b, ll£d; four 78lb, one hundred and sixty-two 631 b, 10£d; three 691 b, 9Mi; fifteen 751 b, 9£d; two hundred 641 b, 9Jtl; two 711 b, 9Jd; thirty-eight 671 b, 92 d; two 751 b, 9i*d; four 78lb, 9H; one hundred and three 631 b, OJd; thirty-two (311 b, 9^d: fourteen 631 b, 9kl; twenty-five 581 b, 9d; forty-nine 741 b, 9d. Cows: Ton sDlb, 7id; twelve 551 b, 7Jd; eighty-two 561 b, 7£d; forty-six 451 b, 73d; eight 381 b, 7gd; eight 38lb, 7^d; eleven 571 b, 7/jd; five 401 b, 7.kd; thirteen 761 b, 7Jd; and eighteen 58lb, 7d per lb. SOUTHERN STARR-BOWE.ETT. The annual report of the Southern StarrBowkett Society slates that eight appropriations in Group 2 were disposed of during the year. Tboro are' still 22 clusters (95 shares) to be drawn in this' group, the shares being held by 95 members. Tho total advances to date amount to £69,300, but of this sum mortgages have been discharged amounting to £35,500. Tho credit balance to profit and loss account stands at £4617 8s 10d, which is divisible among the holders of 433 shares, and is equal to £lO 13s 3d per share. In Group No. 3 four appropriations

were disposed of* The profit for tho ycnv amounts to £250 17s 3d ( and the credit to profit and loss account now stands at iioJo 14s 2d. The first subscription day in Group No. 4 was March for the six months have been very satisfactory, three appropriations of £IOOO each having been disposed of.

Fraser and Co., auctioneers, produce merchants, commission agents, and agents for the Otago Egg Circle, 116 Crawford! street, Dunedin, report:—Eggs: We quote; Egg Circle eggs, Is Id; plain, lid to la. Butter; Market easing; pats, 1b 3d; bulk, Is 3d. Pigs: Number offering is increasing, but prices are still easy. Wo quote: Bacon pigs, Gd to 6|d per lb; porkers, Bid; overweights, 3d to Id per lb. Tallow: Market stationary from 16s to 23s per owt, according to quality. Honey: Demand is poor. Prices are nominal—Prime bulk, GJd to 7d; 1015 tins, 7s. Beeswax, la 6d per lb. Potatoes: Market firmer, W<? quote; Prime tables, £8 10s. Californian onions, 21s per case. Wo have the Otago agency for the Champion egg crates, price 17a 6d each. Orion Colony brooder, £l2 10a. Cronin's Firclcss Hot brooder, £2 IPs Gd, We stock “Star P“ poultry mash, “Star P" chick food, and lucerne meal. Fowl meal, Jubilee incubators, Palmer'4 food—prices on application. Poultry: Larger number offering, and prices aro slightly easier. Wo quote: Hens, 4s to Gs per parr; cockerels, 5s to 7s per pair: roosters, to Is per pair; ducks, to 7s per pair. COMPANIES REGISTERED. Tho registration of tho following companies is repotted in the Mercantile Gazette: James Park and Co., Ltd. Registered as a private company September' 2, 1022. Office: Dunedin. Capital: £12,500, into 12,500 shares of £1 each. Subscribers: Dunedin—J. Park 11,000, M. B. Park 625, E. D. Duthie 625, T. L. Campbell 250. Objects: To purchase or otherwise acquire and take over as a going concern and carry on tho business of merchant, indent agent, and importer carried on by James Park and to carry on tho trades or businesses of hardware merchants, ironmongers, warehousemen, manufacturers, “etc., and all businesses of a liko nature.

Irvin,o and Co,, Ltd. Registered as a private company September 19, 1922. Office: Dunedin. Capital; £3OOO, into 2000 shares of £1 each. Subscribers; Dunedin—Fairbairn, Hcoiderson, Ltd., 1750, D. A. T. Irvin© 250. Objects: To acquire from Fairbairn, Henderson, Ltd., certain agencies and other rights and property held by it and to carry on business as commission, indent, mercantile, and general agents, and as importers of merchandise of every description, dealing, in particular, with yvool, skins, hides, and produce of a like nature. Walker, Clarkson, Ltd. Registered as a private company September 21, 1922. Office: Dunedin. Capital: £IOOO, into 1000 shares of £1 each. Subscribers: Dunedin—R. G. Clarkson 400, A. J. Walker 400, T. C. Reid 200, Objects: To cany on the business oi manufacturing and wholesale and retail confectioners in all its branches end to acquire and take over as a going concern the business carried on by Walker, Clarkson, and Co. Coulls, Somerville, Wilkie, Ltd. Registered September 29, 1922. Office: Dunedin. Capital: £IOO,OOO, -into 100,000 shares of £1 each. Subscribers; Dunedin —T. Somerville, T. C. Coull, H. Coull, J. C. H. Somerville, J. L. Gregory, T. S. Coull, and J J. Boyd, 1 share each. Objects; To acquire and take over as a going concern the businesses of Coulls, Culling, and Co., Ltd., and J. Wilkie and Co., Ltd., 1 now carried on in Dunedin and elsewhere, and to cany on all or any of the businesses of printers, lithographers, bookbinders, stationers, and all businesses of a like nature. “CONSIGN YOUR EGGS AND BUTTER” To BRAY BROS., Fruit and Dairy Produce Auctioneers, STAFFORD STREET. DUNEDIN. Prompt attention given to correspondence. DRIVE RHEUMATISM OUT. : DON’T RUB IT IN! ; Rheumatism is caused by excess uric acid in the Ulood, and it stands to reason that lotions applied to the skin must bo I ineffective. Rheumo seldom fails to accomplish sure, lasting relief, for it attacks the scat of the trouble. If goes to the affected joints and muscles, dissolves the uric acid, and expels it from the system. Why suffer the agonies of Rheumatism, Gout, Lumbago, Sciatica. Commence the cure now—get Rheumo. 2s 6d and 4s 6d bottle. Barradlough’s Magic Nervine Stops Toothache. Is 6d everywhere, Progandra Cures Corns Quickly, la 6d. 141