COMMERCIAL.

Otago Daily Times, Issue 18851, 2 May 1923, Page 6

COMMERCIAL.

THE WHEAT MARKET. Press Association —By Telegraph—Copyright LONDON, April 30. (Received May 1, at 8.45 p.m.) Wheat cargoes arc quiet and easier .owing to the collapse of freights. American parcels aro quiet, at a decline of 3d. —A. and N.Z. Cable. ENGLISH WOOL SALES. Press Association —Bv Telegraph—Copyright LONDON, April 30. (Received May X, at 8.45 p.m.) At the wool sales there was a poor selection of merinos, but a good offering of crossbreds. There was good competition. Prices were unchanged. New Zealand F.W. sold at SOd and Walter Peak at 46d. • At Bradford quotations were well maintained but business was limited. —A. and N.Z. Cable. LONDON SHARE MARKET. Press Association —By Telegraph—Copyright LONDON, April 30. (Received May 1, at 8.45 p.m.) Waihi shares are quoted at 25s (buyers) and 26s (sellers). —A. and) N.Z. Cable. LONDON METAL MARKET. Press Association—By Telegraph—Copyright LONDON, April 30. (Received) May 1, at 9.30 p.m.) Copper: Spot, £7O lls 3d; forward, £7l 8s 9d. Lead: Spot, £25 15s; forward, £26. Spelter: Spot, £32 ss, forward, £32 7s 6d. Tin: Spot, £2lO 17a 6d; forward, £2lO 17s 6d. ‘ Silver, 33 3-6 d per oz. —A. and N.Z. Cable. OTAGO APPLES FOR LONDON The past fortnight has boon a strenuous and anxious one for shippers of apples, two steamers, tfco Kuahine and Rarnnga, taking aboard 15,006 cases between them for London. Shipping arrangements were far from perfect, as instead of an interval of at least a fortnight between steamers, as was asked - for, both the above steamers loaded within a few days of each other. This made railway transport difficult • owing to? the limited number of suitable trucks available, and matters 'were finally confused consequent on the blockage of the Otago Central and Beaumont lines by floods, while some 4000 cases of the Earanga shipment wore held up at Lawrence and Ranfurly. Fortunately the quantity from the Central line got through to Port Chalmers in time to go aboard immediately prior to tho ship sailing, but the Beaumont fruit had to bo railed back from Lawrenco to Beaumont, carted tbcnco to Edievale, and railed to catch the steamer at Bluff. All this disorganisation has meant a strenuous, time for those interested, and thanks are certainly clue to the Railway Department in its efforts to meet tho difficulty. Apple growers must bo classed amongst the smiling optimists, as all these efforts to catch the steamers have been made in the face of cabled reports that New Zealand apples are selling on tho London market at prices which mean a heavy loss to the grower. However, Otago orchardists quite recognise that in export lies tho salvation of tho apple industry, and they will not be disheartened if the overseas trade is not very profitable in its early stages. Exporters say that one thing they object to is the fact that many of their fellow growers who have plenty of apples suitable for export arc sitting back and declining to export while they await the improvement in local prices which must eventuate owing to the pluck and energy of their neighbours who are venturing their fruit on overseas markets.

OTAGO APPLES AT BUENOS AIRESMr H. Turner inform a us that the shipment of 1100 cases of Otago apples per Pakeha, arrived in excellent condition, and realised an average price of 9s 6d per case, f.0.b., New Zealand. The prices must be considered quite satisfactory in view of the fact that large shipments from other parts were lauding in indifferent condition at the same, time, with the natural result of depressing the market generally. Otago shippers are now xrreparing a further shipment of something over 2000 cases for shipment to Buenos Aires by the Orari, from the Bluff, during tho present week, and it is hoped that tho result will be equally satisfactory. The pakeha was a rush shipment, and those who participated) certainly deserve credit for assisting in tho effort to open up what is hoped to' be a payable market for our fruit. The largest shippers were Tonkin's Estate and Mr F. G. Dunco,n’s Sunnyvale Orchard, while others helped with smaller quantities.