COMMERCIAL.

Otago Daily Times, Issue 18761, 15 January 1923, Page 4

COMMERCIAL.

Daily Times Office, Saturday morning. A price list from the Colonial Sugar Co., as agents for the New Zealand Government, shows an advance of is per ton. No reason has been given for the advance. The price of genuine turpentine in coffee bottles has been advanced to 13a 6d per dozen. Gloxo. has been reduced in price to Gss, and 25s for large and small respectively. There are practically no stocks of currants in merchants’ hands, but a shipment of cleaned Amalias will arrive about the end of the month Stocks of standard Hawaiian pines in 2|lb tins are practically sold out. The Waihora’s shipment of sago and tapioca has been practically- all sold. Tho next direct shipment will arrive some time in May, but consignments are now being brought from Australia. Tho Moeraki, from Melbourne, brought supplies of Hacelock plug tobacco. The Port Darwin landed a shipment of English packet cornflour at Dunedin. The market is now well supplied with canned fruits further shipments from California having arrived ex Maunganui. The prices vary according to quality, but the average values are; Apricots, 18s Gd; poaches, 17s; pears, 23s Gd. Extra standard qualities are proportionately higher. BRITISH STERLING IMPROVES. Press Association —By Telegraph—Copyright NEW Y’ORK, January 13. (Received Jan. 14, at 5.5 p.m.l Tho international situation, if anything, is strengthening the pound, which on Friday remained steady at 4.67 dollars, after a jump of three cents during the week.—A and N.Z. Cable. *>> ENGLISH MARKETS. Press Association—By Telegraph—Copyright LONDON, January 13. (Received Jan. 14, at 5.5 p.m.) Sheep: New Zealand ewes, none, offering; Australian firsts 7Jd, seconds' 7gd; ewes 7id. South American light 9d. heavy Bd, ewes 7id. Lambs: Australian thirds Bid. Frozen beef; New Zealand fores 4}d, hinds 4|d; Australian fores 4Jd, hinds 4Jd; Argentine fores 4Jd. Chilled beef; Argentine fores Sfd, hinds 6Jd; Uruguay hinds GJd; others unchanged. Rubber: Para 14d per lb. Plantation smoked IGd lb. Hemp; Januarj’-March shipment, £33 per

ton. Copra; January-February shipment, £24 15a per ton. Linseed oil, £33 10s per ton. Turpentine, 108 s Gd per cwt. —A. and N.Z. Cable, FROZEN MEAT. Tho New Zealand Loan and Mercantile Agency Company has received the following cablegram from its London house under date the 10th inst.:—Lamb and mutton: Quotations unchanged. Beef: Ox hinds, 4£d per lb; fores, 4Jd. Cow hinds, 3£d per lb; fores, 33d. Improved ' demand, Messrs Dalgety and Co. report having received the following cablegram from their head office, London, dated January 11: New Zealand primo crossbred mutton, North Island, heavy 9d, light 9Jd. Demand continues. New Zealand prime ox beef hinds 4|d, fores Id. Demand better, owing to cold weather.. New Zealand mutton; Market firmer. Beef market firmer. Australian good average quality crossbred lamb, heavy not quoted, light lid. Mutton, heavy 7d, light 7Jd. Lamb: Demand runs principally on finest qualities. Mutton : Demand steady. BUTTER AND CHEESE, Messrs Dalgety and Co. have received the following cable from their head office, dated London, January 11: . “Butter market slow. New Zealand salted, 1925; Australian G.A.Q., 182 s; Danish. 2155; finest Australian salted, 188 s; finest Australian unsalted, 1925, “Cheese: Market firm. New Zealand our, 1325; white, 1345; Canadian, 136a.’’ OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, January 12. Tho weather still continues of tho variegated order. A couple of real summer days that were welcomed by farmers were followed by broken weather—hot and cold, sunshine and muggy heat being varied by rain, at tiroes sharp and heavy and others light and fitful. Tho cercaKorops arc moving forward. Some 'cutting of oats, generally Algerians designed for chaff-making, has been done, but now preparations arc being made for harvest on a more extended scale, orders for binder twine becoming move regular. It will, however, be probably near, if not

quite, tho end of February before any new season’s wheat will reach the market. Tho local grain and produce market stjll remains exceedingly quiet, and so it will continue to bo until tho new season’s grain comes in. There is not much of tho lust season’s output to handle. Holders of oats are few, and, though there is some inquiry, they decline to sell at current prices, and look for a good deal more than is going. Barley, of which a fair amount of both descriptions still awaits buyers, will provide a carry over, and a few lots of ryecorn arc still held. As to actual business, the record for the week was only rescued from utter blankness by some sales of milling wheat on behalf of the Government, and a sale of ryecorn made at 3s Gd net, on trucks. The stock market lacks animation. There is a demand for good breeding ewes, but there are practically no sellers, and tho only sale of ewes reported was one of guaranteed sound-mouthed halfbreds, (or which 25s was given. The general impression is that good ewes will show a sharp advance ere long, as a good many farmers want to build up their flocks. Business in fat lambs and sheep lias been placed under restraint to some extent owing to the local freezing works not having yet got going properly consequent on butchers declining to start work except 00 conditions that the directors of tho Wailaki Farmers’ Refrigerating Company refuse to agree to. In the meantime operations arc being carried on upon a small scale bv means of a few slaughtermen outside the union. The effect of this unsatisfactory situation was seen at tho weekly market, when export buyers were not buyers, and out of a fair yarding only a couple of pens were sold, the respective prices being 29s Gd

and 31s. A couple of pens wore sold at 31s 6d and 35s respectively, and a small offering of ewes went at 25s 3d. No sales of lambs by private treaty are reported, but a few modest lines of fat wethers have changed hands at from to 32s 6d. Sales of other sheep have been few, but of fair dimensions. A line of 800 eight-tooth halfbred wethers was placed at 19s Gd, and a couple of sales were made of halfbred wether lambs at 17s—one lino of 700 and another of 400. There has not been much doing in cattle, though an improved tone is perceptible in the market. At tho weekly sale some 18-month-old mixed sexes realised from 35s to 89s, and since then sales by private treatyhave been made of store cattle at the following prices:—Three-year-old steers, £l 10s, £;j. and £5 ss; two-year-old steers, £3 15s; 18-nxoaths-old steers, £1 10s; 18-months-

old heifers, £1 10s to £2. Fat steers brought up to £8 at the market sale, and by private treaty sales have been made in lines at from £8 to £lO 10s. Dairy cattle have not made the recovery looked for from the abundance of feed and the good price for butler-fat. At the weekly sale the best cf the cows coming to profit wore sold at from £R to £7, and sales of cows nearing calving have been made at £7 and of heifers coming to profit at from £5 to £G. SOUTHLAND MARKETS. (Feom Our Own Correspondent.) , INVERCARGILL. .January 12. Oats.—During the week the market has been maintained at the old level, prices to farmers being on a basis of 2s 5d for A grade. A fair quantity of oats was shipped to Australia per the s.s. Whangapo during the week, and this bus reduced to some extent the quantity of surplus oats in store. Merchants are of opinion that by the time

the new crop is ready old oats will bo well nigh off tho market. Chaff.—This is still offering in excess of the demand, and merchants will not operate in anything but tho very best quality, prices for which are from £3 7s Gd to £3 10s per ton, on trucks, country sidings. Inferior lines are quite unsaleable. Ryegrass.—lt is evident that farmers have disposed of their last season’s seed, and stocks in merchants’ hands are decidedly light, so much so that it is evident that the old crop will be cleaned out before tho ma-chine-dressed seed is ready. The entire absence of frosts during the flowering period is sufficient to indicate that the germination of tho now crop will be entirely satisfactory, much more so than during the two previous seasons. Southland has experienced rather more Wet than usual, but not to such an extent as to effect the weight of the seed. The quality depends, however, on the climatic conditions during the entire period of tho harvest. It is too early yet to make any statement as to the probable value of the new crop, but it seems evident that prices will be favourable to growers, as there is evidence of a probability of a good deal of business with Australia and other centres.

Stock.—There has only been one sale held in this province since the holidays, and the yardings were very small all round, but values obtained were showing ft firmer tendency than those at the last sales in 1922. Very small yardings came forward in fat cattle. This forced the market up, and an increase of £1 per head in bullocks and 30s in heifers was recorded. Extra prim© ox beef realised 30s per l(X)lb; average prime. 25s to 27s Gd; and heifer beef fthout 22s Cd. Tho following prices may he quoted: Fat Cattle.—Extra prime heavy-weight bullocks, from £lO to £l2 10s; prime mediumweight, £8 to £3 17s 6d; light and unfinished, £7 17s 6d; prime heifers, from £G 10s to £7 2s Cd; cows, from £5 5s to £6 ss. Store Cattle.—Well-bred three and four-year-old steers in good condition, up to £6 10s; two and two and a-half-year-old steers, £1 14s; yearling and cighteen-month-old steers, from 255. There was a keen demand (or good young dairy heifers. Tho top price was £1 2s 6d, and the average £3 5s to £3 12s Gd. Prices for this class of cattle are better than anything ruling during the last two or three months. Fat Lambs. —Tho demand for fat lambs is not so keen as prior to the holidays, but, nevertheless, good prices were obtained for any prime smjts. Tho price per lb is in tho vicinity of 9d, and the prico per head is: Prime heavy weights, 29s Gd to 335; medium weight, 27s 6d to 28s Gd; light and unfinished, 235. Fat Sheep.—The market here for fat sheep has improved, prices at the last sale being up Is to Is Gd per head all round. Extra primo woolly wethers realised up fo 455; prime shorn wethers, from 33s' to 335; lighter, from 80s to 31s Gd; unfinished, 275; extra prime ewes, from 28s 3d to 30s 3d; lighter, 2Gs to 27s Gd; unfinished, down to 245. Store Sheep. We have had no store sheep sales_ to give any indication of prices, but inquiries indicate that the market remains firm. Full and failing-mouth ewes in the wool, with lambs at foot, IDs to 225; twotooth wethers, from 19s to 20s 6d; four and six-tooth wethers, from 24s to 26a; extra forward, up to 28s 6d. Lines of paddoSk lambs for delivery at weaning time are selling from 20s Gd to 235.

THE TEA MARKET. SHARP ADVANCE IN PRICES. (From Our Own Correspondent.) CHRISTCHURCH. January 13. The prices of packet teas in Christchurch have been advanced by 4d per lb, and there is a possibility that the upward movement has not ceased. The reason is ascribed by the trade to a big rise in tho Colombo market. Not for several years has the retail price of tea been advanced in Christchurch. In Juno, 1920, the rates wore at their peak level, and a prominent Christchurch brand was retailing at 4a per lb. Then the slump developed, and the rates began. to recede. The last drop was made in November, 1920, and since then the rates have been steady. A merchant stated that in this advance allowance has not been made for a further advance this week in the Colombo market. That may be passed on later. Ho had received advices from Colombo that there is no immediate prospect of n decline in that market. There is an actual shortage of leaf, and not for many years had the stocks of tea in the United Kingdom been lower. Many English buyers had purchased tho whole outputs of Ceylon gardens, and practically the whole output of Java teas had been made the subject of contracts for 12 months ahead. The effect of the advance is not confined to packet brands, as grocers are advancing the rates for loose teas.

Information received in Dunedin shows that the estimated shortage of tea last November was fully 50,000,0001 b, and later estimates give even higher figures. The latest reports from various sources indicate that prices will remain firm for at least six months, and they may even advance during that time. Tho consumption in Great Britain up fill 1921 was about GJIb per head, but it has now risen to about 9lb per head.

Tho Whangape, which landed transhipments from Sydney, brought very full quantities of tea. It is interesting to note that included in her cargo was a line of Sumatra tea. This is the first occasion on which such a line has come to this market. The appearance of this tea is quite on a par with that of Ceylon tea, and the liquor is wholly satisfactory. It is possible that owing to the prospect of a shortage of supplies and the increased consumption of tea countries like Sumatra, Java, and other portions of the Bast Indies may bo used for the cultivation of the product on a larger scale.

THE FRUIT AND PRODUCE WORLD,

Reilly’s Central Produce Matt (Ltd.) report: The feature of tho week's business has been the exceptionally heavy consignments of peaches arriving, and those desiring fruit either for dessert, cooking, or preserving purposes should immediately let us have their orders while large supplies are available and prices arc particularly low. During tho week the demand for green peas has been practically nil, due to tho fact that large supplies of other vegetables are available. Potatoes are arriving in excess of requirements, and unless they are sbccial oilality there is practically no demand, Full supplies of tomatoes, lemons, oranges, and bananas are obtainable at low prices. Those desiring fruit of any descriptions should forward their orders im-

mediately. AVe received and sold:—Strawberries: Fillbaskets, 10d, Is, Is 4d; Margaruets, Is; Kttersburgs, Is 3d, Is Pd per pottle. Tomatoes; Nelsons, 6s Gd, 8s Gd, 9s Gd, 12s Gd per case; local hothouse, Is laid; Christchurch, OJd, 7d, 7id, BJd, 9d, lOd. Raspberries, IOJd, Is. Cherries; Desserts, Gd, 74d, BJd, Is Id. Grapes, Is Gd, Is 9d, 2s, 2a Id. Apricots, 3Jd, 4Jd, 3d; cooking, 2d, 2Jd, 3d. Plums: Cherry, choice 3d; small, 21d; dark, id, 6d. Nectarines, 2Jd, 4Jd, sd,~sJd. Pears, 3d, 3Jd, 4d, 44d. Peaches: Desserts, 2Jd, 2Jd, 2jd, 3d, 3ld, 4d; cooking, lid, 2d. Black currants, 4jd, sd, Gd, 7JkI. Rhubarb, Id, IJd. Gooseberries: Green, IJd, 2d; ripe, IJd, 2d, 2Jd. Green peas, IJd, IJd, 2d, 2Jd, 3d. French beans, 4d, 41 d, sd, s|d. New potatoes: Prime quality, IJd, IJd per lb; others, Is to 4s per case. Mushrooms, Gd, 7d. Apples: New season’s desserts, 2id, 3Jd, 4d; cooking, 2Jd, 4d per lb. Lemons: American, 58s. Oranges; American navels, 38s. Bananas : Green 255, ripe 30s per case. Carrots, Is. Lettuce, Is Gd for choice. Cucumbers, 8s Gd, 10s, 12s, 14s, 16a 9d. Vegetable marrows, 6s, 7s Gd. Bs. Cabbages, 3a 3d, 3s 9d, 4s Gd. Cauliflowers, 5s fid, Gs per dozen. Onions: Melbournes, 20s; Canterbury, 15s per cwt. Butter: Dairy Is Id, Is 2d, separator pats to la Gd. Beeswax, Is 6d. Bacon: Rolls, lid. Bacon Pigs: Prime porkers, GJd; baooners, GJd. Honey; Bulk to 5d per lb; sections, 7s 6d; Jib pats, 8s 9d per dozen; 10lb tins, Gs each. Eggs: Stamped. Is 3d: cased. Is Id per dozen. Oyster shell grit, Bd. Wheat: Choice, 4s Gd. Black leaf 40: 101 b tins 70s, 2lb tins 18a, Jib tins Ss 6d. Best Canadian buckets, 48s per dozen. Poultry: 336 hens realised 2s 2d to Ss 8d; 17 ducks realised 5s to 5a 2d; 82 chickens, Is to 4s—all at per pair. One pullet and 13 chicks realised 15s; one pullet and 13 chicks realised 13s 6d; one hen and 15 chicks realised 12a, E. OSWALD REILLY, Managing Director, Moray place, Dunedin.