COMMERCIAL.

Otago Daily Times, Issue 18760, 13 January 1923, Page 8

COMMERCIAL.

Daily Times Office, Friday evening.

Although the London market for wheat has displayed firmness all tho week (says the Australasian of December 30), business has been quiet. Most of the dealing has been in American and Canadian red wheat, Australian receiving only moderate attention. Prices have been steady, but the position has been somewhat obscured by reason of the disinclination of farmers to sell wheat. Some business has been obtained by Victorian flour millers for January shipment, and it is likely that many of the mills will bo able to run full time during that month. Oats have been inactive, millers operating only for immediate! requirements. Feed oats aro dull of sale, and tend to be easier.

The market for wheat and outs is practi cully unchanged. There is no wholesale business passing, the transactions being confined to small supplies for immediate requirements. Occasional lines of milling wheat ere coming forward from tho country, and arc being secured on Government account. There is no change in prices to report. Dunedin millers’ prices are as follow: Flour: 200 lb, £ls 10s per ton; lOD’s, £l6 10s; 50's, £l7; 25’s. £l7 10s. Bran, £5 10s per ton. Pollard, £3. Oatmeal: 25’s, £18; 200’s, £l7.

Current local wholesale prices for produc: are as follow:

Chaff.—Good quality, £4 15s to £5, ex truck; medium and light, £2 10s to £3. New potatoes: Peninsula, IJd to IJd per lb for choice. Gamaru and Taieri, 7s to 8s per owt. Dairy Butter. —Bulk, Is ; pats, Is 2d; milled, Is 2sd. Eggs (slow of sale). —Stamped, Is Id; ordinary, lid to Is. Melbourne onions, IDs per cwt. Bacon.—Supplies are getting rather short, but there is no alteration in prices. Rolls, 11VI per lb; sides, IMd. Hams, Is 3d; boneless, Is 3d. FRUIT REPORT.

A feature of the week bus .been the extraordinary supply of early poaches. As these

arc not generally used for jam, the demand lias not been equal to the supply, and very low rates have ruled. Supplies of apricots have not been very plentiful, and fair prices have been realised. Fair quantities of plums are coming forward, and have met with a good *emand. Dessert, apples aro still wanted, and any coining forward would realise high prices. Supplies of tomatoes have increased considerably, and prices have receded somewhat.

Supplies of oranges, lemons, and pines arrived by the Moeraki yesterday, and these will bo placed on tho market to-day. Fiji bananas arc expected to arrive next week. Vegetables have met with a fair inquiry, especially good cabbages. Tho following are the latest prices: Apples.—M'arkot absolutely bare, a few new-season’s realising 9d per lb; cookers, 9s to 10s. Tomatoes. —Christchurch hothouse, 9d to lid per lb. Bananas.—Ripo to 40s, green 22s 6d to 255. Rhubarb to Is 6cl per dozen bunches, each of lib. Oranges.—Alclaiclo, 22s to 27s 6d. Lemons, 30s; Italians, 38s. Cherries. —Beat to Is 6d per lb; good, Is; medium, Bd. Plums to 3d por lb. Peaches, 2s to 4s per half-case. Apricots, 4s to Gs per half-casfc. Pears, 4s to 5s per half-case. Cauliflowers, 6s to 10s per sack; loose, 5s per dozen. Cabbages. 7s to 9s per sack; medium, in to Gs; email ,le Gd to 3s; choice to 5s 6d per dozen. Green peas, 21d to 3Jd per lb. Cucumbers, 6s to 12s per dozen. Lettuce.—Poor demand. Spring onions, 3d to 4d per bundle. White turnips, 8d to Is per dozen lypnehes. New carrots, Is 61 per dozen bunches. Beetroot, new season’s, Is Gd per dozen.

ENGLISH MARKETS. Press Association—By Telegraph—Copyright LONDON, January 11. (Received Jan. 12, at 7.35 p.m.) Tho butter market is quiet and rather easier, as buyers mostly covered’ their requirements last week. New Zealand choicest, 190 sto 1925; exceptionally choice, 1945; Australian, l£Cs to 188 s; exceptionally choice, 190 s; unsaltcd, about 2s premium. Cheese: Tho market is firm. New Zealand, 130 sto 13-ls; Australian, 126 sto 128 s. Recent arrivals of Australians eggs were in good condition, having carried well. They fetched about 21s per 120 on a dull market. Tho Dorset’s parcel of New Zealand eggs was unsatisfactory. Many wore broken owing to insufficient padding in the cases, and some were spotted. The total wastage is estimated at 40 per cent. Tho Bradford wool market is firm, but tho actual business is limited. Sixty-fours, 63d; 60’s, £6d; sG’s, 36d; 50’s. 27d; 46’s, 18d. Short loans are discounted at 14 per cent, and three months bills at 2J per cent. Wheat cargoes are steady, but parcels are quiet. The spot trade is dull. Ths flour market is slow. Australian is unchanged. Barley is stoady, and prices are unchanged. Oats aio firm. Spot, unchanged; Gartons, afloat, 34s 6d. Peas aro firm. Now Zealand blues, on spot, 300 s to 3605; New Zealand maples, on spot, 105 s to 110 s; March-April shipment, 80s, c.i.f.; Apri!-May shipment, 755. Sugar: Granulated, 50s IJd. AUSTRALIAN MARKETS. Press Association—By Telegraph—Copyright

MELBOURNE, January 12. Barley: English, 4s 5d to 4s 6d; Cape, 2s lOd to 3s. Oats: Milling, 3s VJd; feed, 3s 6d to 3s Gid. Potatoes, £7 10s to £B. Onions, £7 to £B. BRISBANE, January 12. The wholesale price of butter has advanced from 18Gs 8d to 19Gs per cwt. CANTERBURY MARKETS. (Pbu United Press Association.) CHRISTCHURCH, January 12. For this period of the year the tone in business circles is and the prices at which the old season closed ere being generally maintained with regard to new stuff. The reason for this appears to be that operators are more optimistic than was tho case this time last year, when the effects of the depression were more’marked. Ryegrass is beginning to make its appearance on tho market, but naturally the quality is not the best stuff that is able to be put on the machines. It would no doubt bring up to 3s 9d at present, but when the bulk of the crop comes to hand it is not likely that this figure will be maintained. Ono or two lines of oats (Algerians) have been offered during the last few days. The quality is good, and it is reported that sales were rejected at 2s 3d. When tho market settles down, however, tho figure will probably be about 2a 6d. Garton oats naturally are not expected to go beyond this figure. White clover continues to hold its own in the market, but as it is now between seasons values aro not quotable. Similar remarks apply to cowgrecs. Chaff is sail firm at the old season's figures. Lirtseod is not offering just now. Tho new season's crop will be coming to hand next month.

Very little forward business is being done in potatoes up to the present. North Island buyers have not been inquiring for potatoes to any great extent. Probably the fact that they did not do so well last year os was expected has had something to do with this. While some operators seem to favour the consignment system, others on the other hand are opposed to it for the reason that it interferes with their regular business. Apart from this, however, tho farmers are not showing any great desire to sell at the present, being quite prepared to sit tight and await developments. Rumours have not been wanting that the new crop is affected with blight, while a certain amount of blight has been seen in the gardens. It appears that the main crop is so far fairly clean. Tho present season has been bo favourable that the growth of potatoes is remarkable for this time of the year, and big tops are noticeable, hut whether such a condition will

be favourable to the attack of blight or otherwise is rather too early to predict. Nothing has been done in onions yet. Should Auckland receive a demand from Vancouver it will result in the orders being met principally by North Island onions, jn which event South Island onions will bo required to meet northern local requirements, but so lar there is no sign of activity in this connection. BANK OP ENGLAND RETURNS. Press Association—By Telegraph—Copyright X/ONDON, January 11. The Bank of England returns for the week ended January 11 afford the following comparison with those of the previous week:— Jan. -1. Jan. 11. Coin and bullion 125,656,000 125,658,000 Reserve 21,882,000 20,481,000 Proper! ion of reserves to liabilities, p.o 13.87 17.22 Not,, circulation 124,053,000 122,455,000 Government deposits ... 12,217,000 13,574,000 Other deiios.il s 144,862,000 122,737,000 Government securities ... 62,658,000 65,672,000 Other securities 24,204,000 65,173,000 Short loans, 1J per cent.; three months’ bills, 2J per cent. FOREIGN EXCHANGE RATES. Press Association—By Telegraph—Copyright LONDON, January 11. (Keceivcd Jan. 12, at 7.55 p.tn.) T/Ondon on Par. Jan. 2. Jan. 11. Pari.-, fr to .01 25.225 63.15 07.85 Christiania, kr to £1 ... 18.150 23.83 24.28 Copenhagen, kr to £1 ... 18.152 22.81 23,08 Stockholm, kr to £1 ... 18.152 17.30 17.5 Berlin, marks to £1 ... 20.43 44500.00 48000.00 Home, lire to £1 r . ... 22.234 23,0 g 24 Montreal, do|. to £1 ... 4.86 2-3 4.66} 4.711 New York, del. to £1 ... 4.86 2-3 4.0-1} 4-C7J Hongkong, dol. to £1 ... * 27Jrt 27d Yokohama, st. to yen ... 21.50 25jri 25 l-6d Calcutta, fit. to rpe 10 to gold £1 16. pl 16Jd •Determined by price of silver. GOVERNMENT SECURITIES. X-ONDON, January 11. The following are the latest quotations 'for Government securities, with a comparison with those ruling last week ;

WEEKLY REPORT. Fraser and Co., selling agents for the, Otago Egg Circle, 1-1(5 Crawford street, Dunedin, report:—Eggs: Market fully supplied, sales slow. Egg Circle eggs, Is to Is Id; plain, lid to Is. But tor: Market steady. Pats, Is IJd to Is 2d; bulk. Is 3d. Pigs: Prices steady, and the demand is absorbing all on offer. Bacon pigs, 6d to CJd per lb; porkers, Gjjd; over-weights, to 4d per lb. Tallow; Market steady, worth from 16s to 235, according to quality. Honey; Demand is limited. Prime bulk, to 6d; 10lb tins, 6s to 7s per tin; sections, 7s Gd per dozen. Beeswax, Is 5d to Is Cd per lb. Potatoes: Market heavily supplied. Oamaru, in cases, 8s per cwt; bags, 7s per cwt. Green peas, 3d per lb. We stock Star P chick food, lucerne meal, poultry meal, jowl wheat, oats, egg crates, hran, pollard, leg rings, various colours, Is 6d per dozen. Special quotations for quantities. Poultry; We submitted a large entry at our sale on Wednesday, when the following prices wore realised; Hens, Is 8d to 4s; cockerels, 2s to 7s; ducks, to sa; ducklings, to Ba—all at per pair. January 12. 15123. “CONSIGN YOUR EGGS AND BUTTER” To BRAY BROS., Fruit and Dairy Produce Auctioneers, STAFFORD STREET, DUNEDIN. Prompt attention given to correspondence.

Last week. This week. £ s. fl. £ P. fl. 2i per c^nt. Imp, , Con. ... 55 17 G 5(5 0 0 3$ per cunt Imp, War JiOan, 1020-28 05 12 G 9G 0 0 5 per cent. Imp. War Loan,

1021M 100 10 0 100 10 0 ."A r«T cent. Conversion Lean 7o 2 6 75 1.) 0 r o± per cent. G'v/pfilth I/oan, IM-i 17, F« .'b.-Aupf, 100 5 0 101 £ 0 C jior cent. C wealth Ix>n n‘,

i'm11. .Innc-lVo 105 12 R 106 0 0 X .s.w. , 3'p, 1335, Apl.-Oct. ... 73 10 0 74 o n X .s.w, , s, 1030-50, .Fan.-July 78 0 0 78 15 0 X .a \v . 4*. 1033, Jan.-Julv 88 2 C 88 10 0 X .s.w . oji’s, 1022-32, M:n*-

Kov. lot n 0 301 10 0 N.S.1V. 6's, 10.10-10, Mnv-Xov. 104 lUV, 19.10-00, ‘ IVb.7 e 104 Vi G V.H.Vi. Aug. * 10R 10 0 107 0 0

Vic. Si’s, 1930-40, Apl.-Or-t. 103 0 0 103 0 Vic. 3!.’s, 1921-C, .Tan.-Jiilv ... m» 0 0 86 0 o Vic. .'(Vs, 1929-40, Apl.-dct. 77 0 0 77 7 (; Vio. SA’p. 19211-4!), Jan. -July r,9 15 0 70 0 0 Q'lnnd'fi’s, 1930-40, Fob.-Aug. Q’Und 4’s, 1931, Jan.-July ... Q'bmd 3J’s 1924, Jan.-July Q’land .IJ'6, J930 Q'land 3's', 1922-47, Jan,-July NX 6’f, 1MS-M, T'ch.-Aug 103 5 0 103 ft 0 85 12 R 86 0 0 36 05 65 10 15 0 0 0 0 U7 UG 65 ft 5 0 0 0 0 m 0 0 108 6 0 NX 4’b, 1929, May-N'uv. NX .’U’e, 1910, Jan.-.Tilly ... <M 5 1 ‘0 04 0 0 81 0 0 82 0 0 NX :i ; R, 10 4.-., Apl.-Oct. ... 73 5 0 73 1ft 0 S.A. 3'«, 1930, Jan.-July ... P.A.' 4i'B, 1943 or after S.A. Gi'B, 1920-40 61 a 6 61 7 (i 80 0 O 80 12 (i 106 10 0 107 0 0 Tu«. 3i’a, 1920-40, Jan.-Jnlv 81 0 0 81 10 0 Tnf. 3V, 1920-40, Jan.-Jnlv '... 73 0 0 73 0 0 Tns. (it'd, 1930-40, Feb.-Aug Vi.A. 3i’fi, 1920-35, Feb.-Ang, 107 0 0 107 0 0 107 0 , 0 81 17 6 W A. 3V, 1913-33, Mav-Nov. 77 17 ’ (1 77 13 fl w!a. 6’ii, 1930-40, Jan.-July 103 xo 0 m 0 ft