COMMERCIAL.

Otago Daily Times, Issue 18861, 14 May 1923, Page 6

COMMERCIAL.

i Daily Times Office, Saturday morning. Sago and tapioca continue firm in price. Sago is now quoted at 395. and tapioca at 40s. Stocks of both lines are short in merchants’ hands. Consignments are expected by transhipment from Sydney. The shipment by direct steamer will not come to hand till about six weeks’ time. The prices of Fellowe's syrup have been reduced to 98s per. dozen for large and 57s for small. Angler’s emulsion has also been reducedtarge to 665, email 38s. Van Honten’a cocoa, vanilla flavoured, is now quoted at the same price as Bourneville. A shipment of bulk cornflour is due ex Middlesex. This is being quoted at 3|d net. _ Canary seed bos again advanced in price. The current quotatipn'is 4Jd per lb. Fry’s English breakfast cocoa, quarters, is quoted at 3s per lb, halves 2s lid. Capstan tobacco, which was in short supply; is again available in limited quantities. Advice has been received from Australia that Sicily almonds have been advanced in price. Mildura currants and sultanas will only be available in limited quantities this season. Imported brown paper is getting into short supply. The position as regards supplies of sugar for the local arket is still unsatisfactory. Merchants are unable to get sufficient supplies for their requirements. LONDON MARKETS. Press Association—By Telegraph—Copyright - t LONDON, - May 12. (Received May 13, at 5.5 p.m.) Cotton: June shipment, 13.09 d per lb. Rubber; Para, 14Jd per lb; plantation smoked, 13Jdl. Jute. May-Juno shipment, £2B 15s per ton. Hemp: April-June shipment, £32 10s per ton, nominal. Copra: April-May shipment, £27 ss' per ton. Linseed oil, £46 per ton. Turpentine, ICOs per cwt. Sheep: i Canterbury light, 83; New Zealand ewes, ■ sd; Argentine firsts, light 6id, heavy aid; Patagonian light, 6Jd. Lambs: Canterbury light 10 jd, medium 10|d, heavy lOJd; North Island firsts, 9§d; Australian firsts 94d, seconds Sid; Argentina firsts, heavy, 9d. Chilled beef; Argentine fores 2Jd, hinds' 6id; Uruguay fores 2Jd, hind) sid. Others unchanged. FROZEN MEAT. Messrs Dalgety and Co. (Ltd.) report having received the following wire from their head office, London; dated May 11, 1923.; N.Z. prime crossbred lamb, Canterbury, lieavy, 10d,'. light lOJd; N.Z; prime crossbred lamb, North Island, heavy 9id, light SJJ. N.Z. lamb: Demand fair. ‘ N.Z, prime crossbred mutton, Canterbury, heavy Bi<J, light 8d; N.Z. prime crossbred mutton, North Island, heavy Bd, light 7id. ri.Z. mutton: Demand limited. N.Z. prime ox beef hinds, 4id; N.Z. prime ox beef fores, 3Jd. N.Z. beef: Demand nil. N.Z. iamb market weaker. N.Z. mutton: Market weak. N.Z. beef: Market prices nominal. Australian good average quality crossbred lamb heavy Bd, light Bjd; Australian good average quality crossbred mutton, heavy 4Jd, light 4gd. Australian lamb: Demand poor. Australian mutton; Demand poor. No forward sales reported. . , , BUTTER AND CHEESE. Messrs Dftlgety and Co. (Ltd.) report having received tho following cable from London, dated May 9: “ Butter market slow. N.Z. salted, 144 a per cwt; Danish, SJBs per cwt; finest Australian salted, 140 a per cwt; finest Australian unsalted, 140 s per cwt. Australian G.A.Q., 134 s per cwt. Cheese market quiet. N” Z. white, 98s per cwt; N.Z. colour, 97s per cwf; Canadian c.i.f., 91s per cwt.” TALLOW SALES. The New Zealand Loan and Mercantile Agency Company has received the following cablegram from London, dated the 9th inst.: Tallow. —We quote present snot values for the following descriptions: Pino mutton, 43s 6d per cwt; good beef, 41s 3d per cwt; mixed, 36s 9d per cwt. Market quiet, LONDON WOOL SALES. The National Mortgage and Agency Co. oi N.Z. (Ltd.) are in receipt of a cable from their London house, under date the 11th inat.: ,i‘The auctions closed here to-day with a good tone. Compared ,with opening rates wo quote: Greasy merino,’ best, unchanged, do do, average, unchanged; halfbreds, 50-56, unchanged; fine crossbred, 48-50, Jd lower; crossbred, 48-48, Jd lower; 44-46, Jd lower; 40-44, unchanged; 36-40. unchanged.” WOOL AND SHEEPSKINS. Messrs Murray, Roberts, and Co. have received the following wool and sheepskin market cablegram from London, dated Jlth inst.: “ Sales have closed firm. Compared with opening rates of present London sales greasy merino, market shows no material change: scoured merino and fine crossbred greasy, advanced 5 per cent.; medium and coarse crossbred greasy, market irregular, par to 5 per cent, decline; crossbred scoured, advanced 5 per cent.; crossbred slipe, par to 5 per cent, decline. Sheepskins: Merino and fine crossbred advanced 10 per cent.; crossbred medium advanced 10 to 15 per cent.; crossbred coarse advanced 5 per cent. ’ PASTORAL FINANCE ASSOCIATION. SYDNEY, May 12. The shareholders in the Pastoral Finance Association, whose large stores some time ago were destroyed by fire, and whofle interests were subsequently taken over by the New Zealand Loan and Mercantile Agency Company, have accepted a compromise scheme under-which the unsecured creditors will be paid a further dividend, bringing the total paid against their claims up to 17s 103 in the £. The balance of the company’s net assets will be distributed among the wool owners BRITISH TRADE RETURNS. LONDON, May 11. The imports increased by £5,784.000, and the exports by £7,363,009, and re-exporta by £3.228,000. The principal increases were:—lmports: Meat, £1,586,000; dutioble food and drink, £2.849,000. Exports: Coal, £4,264,000; vehicles, £2,843,000; iron and steel, £1,035,000. Principal decreaseslmports: Grain and flour, £4,374,000; raw cotton. £1,368.000, Exports; Cotton yarns manufactures, £1,719,000. — A. and N.Z. Cable. ENGLISH WHEAT MARKET. LONDON, May 13. Cargoes are dull, and have mostly declined 6Jd a quarter. A cargo to Ireland was sold at 53s per quarter. Parcels are quiet, and have declined 3d p«f quarter.—A. and N.Z, Cabin.

. HOME CHEESE MARKET., '■ Mr G. A. Lamb, secretary of the South Island Dairy Association, reports that he has received a cable from the New Zealand Produce Association, London, stating that shipments of cheese m the Kent, from Dunedin, realised 145 a tor white and 147 s 6;l lor coloured. The shipment in the Aravra, from Lyttelton, realised 125 a for white/ aud 139 s for coloured, and that in the Maimoa, from the Bluff, 120 s for white and 127 s lor coloured. NEW COMPANIES. The Mercantile Gazette annaunces the registration of the following new companies in Otago and Southland: Aurora Creek Timber Company (Ltd.). Registered as a private company March 27, 1923. Office: Kahuika-. Capital; £IBOO, into 1800 shares of £1 each. Subscribete: Kahuika—H. A. Ballantine 800, M. M. Baliantinc 200, R. Robb 800. Objects: To acquire the goodwill of and take over as a going concern the business carried on at Kahuika and elsewhere by H. A. Ballantine, and to carry on business as timber merchants, sawmillcrs, sawmilling proprietors, woodware and iron ' manufacturers, joiners, and boxmakors, and to buy, sell, and prepare for market, manipulate, import, export, and deal in timber and wood of all kinds ■ Bowie’s (Ltd.). Registered as n private company March 28, 1923. Office: Melmore terrace, Cromwell; Capital; £3OOO, into 8009 shares of £1 each. Subscribers: Cromwell—H. Bowie 2100, R. B. Bowie 300, J. A. .Bowie 200, J. Stephens -300; Lawrence —E. Bowie 109. Objects: To acquire the business of Henry Bowie, storekeeper, Cromwell, and to carry on the business ■of importer, general merchant, storekeeper, and buyer and seller of goods, chattels, and merchandise of every description, wholesale and retail. Manhire and Hinchcliff (Ltd.). Registered as a private company April 17, 1023. Office: No. 49 Dowling street, Dunedin. Capital: £2OOO, into 2000 shares of £1 each. Subscribers: Dunedin—N. Manhire 1000, J, o. Hinchcliff 1000. ObjectsTo carry on the business ot wholesale and retail merchants and general warehousemen in all its branches in any part of New Zealand. • ’ Rutherford’s (Ltd.). Registered as' a private company April 17, 1923. Office: 425 High street, Dunedin. Capital: £IO,OOO. into 10,000 shares of. £1 each. Subscribers; Dunedin—A. J. Rutherford 8000, A. M. Rutherford 1000, E. Rutherford 500, M. P. Rutherford 260, G. M. Rutherford 250. Objects: To carry on the business of wholesale drapers and furnishing and general warehousemen in all its branches. Kingsland and Ferguson (Ltd.). Registered April 30, 1923. Capital; £BOOO, in 8000 shares of £1 each. Office: Invercargill. . Subscribers; Invercargill—J. T Macdonald 1700, H. P. Weston 1700, D. J. Wesnoy 2533, J. J. Wesney 2067. Objects: Undertakers and monumentalists. Waikouaiti Co-operative Stores (Ltd ). Registered March 20, 1923. Office; Main North road, Waikouaiti. Capital; £SOOO, into 5000 shares of £1 each. Subscribers: Woikouaiti—J. Preston, J. A. Townsend, N. A. Stewart, C. W. Hallum, A. Fell, F. Toomey; Dunedin—B. Irwin—so shares each. Objects: To carry on the business of storekeepers, general merchants, drapers, fancy goods merchants, grocers and confectioners, and general incidental. SOUTHLAND MARKET REPORT. (Fhom Oub Own Correspondent.) INVERCARGILL, May 12 - Oats.—A fair amount of business has been done since last report in B Gartons to autumn buyers, at 3s 2Jd, f.0.b.,5.i. Despite the impossibility of business with Australia, the market is decidedly .firm, merchants refusing to consider any less attractive offers. V alues to farmers on this basis are about 2s 8d for A grade and 2s 6d for B grade on trucks, sacks extra. Wheat.—A number of sales have been i made bv growers to the local millers at an arranged price. Good fowl wheat is worth te-day 3s Gd to 8s lOd on trucks, sticks extra, i Chaff is offering at present in quantities ■ in excess of the local market, and merchants i are not operating, except in beat quality, j which is worth £3 15s per ton on trucks. Ryegrass.—Offerings to farmers are now 1 decreasing in price and quantity. The. bulk 1 of the seed saved has undoubtedly changed ; hands. The prices to growers have mated- ■ ally receded, and to-day it is not possible I to secure 5s on trucks at country sidings for best quality seed well-dressed from the mill. Stock.—During the past week the stock ! market has remained practically unchanged. [ values all round being on a ' par with those i ruling during the week with the exception of fat cattle. At tile local market fat cattle ! have eased about £1 per head. In the etoro j eheep market prices are easier for f.m. ewes and also for store lambs. Good breeding ewes are still in keen demand. The following prices may bo quoted: Fat Cattle,—Extra prime beef, 20s to 21s fld per 1001 b; prime heifer. 17s to 18s; cow, 12s to 13s; extra prime: bullocks up to £10; average prime, £6 to £7 10s; light and unfinished, down to £5 19s; extra prime heifers up to £7; average to prime, £3 to £5 10» unfinished down to £3 • 10s; extra prime cows up to £4 10s; average to prime, £3 10s; unfinished, down to £2. Fat Sheep.—Extra prime wethers, 345; average to prime, 29s 6d to 31a 6d; light and unfinished, 265; extra prime ewes, 265: average, to prime, 21s 6d to 23s 6d; light and unfinished, ’ 18s. Store Cattle.—The market is absolutely lifeless, there being practically no d®mand for any class of store .cuttle. At sales held during the week fairly large numbers were offering, and sales are improving very little in this section. Forward three and four-year-old bullocks, £3 15s: two to two and a-half year olds, £2; yearling and IS-montb- ■ old, 20s to 32s 6d; extra good dairy cows, in profit, up to £10; average, £5 to £7; inferior «nd cullv cows down to 30a. I

Store Sheep.—Forward four and six-tooth, 355; average, 30a .to 32s fid; forward six and eight-tooth ewes, up to 30a; s.m. ewes. 22s Gd to 25s Gd; extra good, 27a; f. and f.m. ewes, 13s to 15a, to condition; inferior and aged ewes, 8s; forward m.s. lambs up to 19s 6d; average, 16s to l?s 6d; cully lambs, Bs.

OAMARU MARKETS. t Faoii Ooh Own Correspondent.)

OAMARU, May 12. Since my last week’s report was posted there has been a more or less continuous rain for five days. But at no time was it heavy, being for the roost part a light drizzle, involving nothing in the nature of a flood. It has Iwen a really serviceable rain, giving to the ground, a thorough soaking and providing a reserve of moisture that wilt prove highly valuable in the event of a long dry spell occurring later on. It has made the ploughing of lea land an easy task, and the conditions are generally euch as to presage a good harvest, but it is doubtful if farmers will as a oohsequennee change their minds and make good sowings of wheat. Many of thbm have practically already answered the question, by stocking up with sheep, particularly ewes, with a view lo production of lambs,

The weather conditions have necessarily interfered with tho free course of business in all tho markets, and there is, therefore, little to report. Some 4000 or 5009 sacks of wheat have changed hands in lines of from 500 sacks downwards at full rates for milling quality, and this notwithstanding that millers generally are reported to be heavily stocked. A few small parcels of fowl wheat have been placed 1 at 4s 2d f.0.b., equal to about 3s 9d net to growers. Tho ■ movement in oats continues slow. Very few samples have come on the market, and the prevailing impression is that, though some threshing has yet to be done, the stock in the country available for marketing is within narrow limits.' A few sales of A grade Gartons have been made at 2s 9d net at country stations. A surprise in the grain market baa been the sale of a line of malting barley at 4s 9d net on trucks at Oamaru. This is the first sale of this cereal for a considerable time, and the question is asked whether it has been due to malsters anticipating considerable injury to stocks held in Marlborough.

Potatoes have made a further upward rise, probably as a consequence of reports of damage to crops in Canterbury by tho floods. For a line of table Up-to-Dates £8 ss. net, on trucks at Oamaru, was given, and it is reported that a higher price has been paid for small lots for local consumption. , There is a good inquiry for sound tuliers, but this is meeting with no response. However, holdings in North Otago arc comparatively small, and there is an impression that the top of tho market has not yet been reached. ’ i The stock market has been affected by 1 the wet weather, and the volume of business ' has been limited. The yarding of sheep at •' the weekly sale was very small, and for' the moat part was found in the fat pens. The ! prices realised were; Fat lambs, from 26s 3d to 26s 9d ; fat wethers, 25s 3d to 20s 3d; fat ewes, los 3d to 18s 3d; store lambs, 218 3d. At the Duutroon yards the

small yarding consisted mainly of aged ewes; which sold at from 9s Sd to 17s Id. Other prices were as follows: Fat lainbs, from 23s 6d to 80s 9d; ewe lambs, 23s l()d; mixed-sex lambs, its Gd; merino wethers, 12s 6d. Sales by private treaty have been few, and the most ,uo4ewoi'thy was one of an exceptionally good line of two, four, six, and eight-tooth ewes, for which 36s 6d was obtained. For failing-mouthed'i eweS 34s Cd was paid. Heavyweight fat wethers have been soldi at 355, and heavy-weight ewes at 19s. A line o£ store wethers realised 23a 6d. The chief feature of tho cattle market was the dispersal sale of the Waitangi Station cattle, which took place at the regular market, aud brought buyers from a distance. The cattle wevo stores’ steers, ranging from four-yeura-old to two-year-old, and the range of prices was as follows:—Four-yea,r, from £4 5s to £5; three-year, from £3 2s 6d to £3 17s 6d; two-year, from £2 Is to £3. included in this offering were some light, fat bullocks, which realised up to £8 15s. Very little business has been done in cattle by private treaty. Fat bullock® have changed) hands at from £8 up to £l2, according to weight, fat steers at £7 15s, and fat heifers at £5 ss. Dairy cows at profit have been sold under tho hammer at from £6 to £7 2s 6d.

THE PRUT AND PRODUCE WORLD.

Reilly’s Central Produce Mart (Ltd.) report:—An unsettled market, due to tho floods experienced in the north, which affected consignments of produce generally; onions, potatoes, carrots, and parsnips being scarce. Eggs are short of requirements, aud prices have advanced. Apples and pears are in lull supply, an abundance available for all requirements, sales being difficult to effect. Oranges and bananas reached us in perfect condition. Oranges are good buying at the prices quoted to-day, ISa per case. Fine consignments of poultry came forward for our sale on Wednesday; prices for ducks were easier, though considering the quality and quantity forward fair values were secured. Wo sold:—Violets; Small bunches, 3s 6d, 4s fid, 6s, 5s fid per dozen; other flowers, 2» 6d per dozen bunches. Tomatoes: Local hothouse, 9d, XOd,'Tie, Is OJd, Is 3d; Christchurch, 2Jd, 3d, 4d.' Grapes: Local Hamburgs, Is 6d, Is 7d, ls 9d, 2s;; Gros Colmars, Is 9d, 2s 3d, 2s 6d, >2s'9d; 3s 3d. Eschalots, l|d. Pickling onions, IJd. Brussels sprouts, 5 jci, 7Jd. New season’s-wal-nuts, IOJd, Is OJd. Almonds: Otago Central, 9|d. Peanuts: Choice quality, 7W per lb. New season’s Adelaide dried apricots: Choice, la sd; do peaches, choice, Is 3d per lb. Pears: Choice desserts, ss, 5s fid, fis, fis 6d, 7s; others, Is to 8s 6d. .Apples: Delicious, choice, 10s, 11s Gd, 12s, 13s 6d; Jonathans, 6s 6d, 7s, 7s 6d, 8a; pocking, choice, 5a 6d, 6s fid; inferior, 2s to 3s fid. Lemons: -American, SBs. Passions: Choice to 14s 6d, Rarotonga oranges; Choice, 15s. Bananas, ,25s per case for choice; ripe, 355. Pio melons, 9s 6d. Pumpkins, 6s per cwt. Cucumbers, 9s, 10s 6d, lie, 12s 6d per dozen. Cabbages, Is to 4s Gd. Cauliflowers, 2s to 10s 6d. Lettuce, 9d, Is, la 6d per dozen for choice. Vegetable marrows, 6s 6d, 7s 6d per cwt. Potatoes: Locals,, prime quality, 10s 6d; Oamarus to £9; Tnieri and Stirling, £9 to £lO p<lr ton. Carrots, 7s. Parsnips, 8s 6d. Swedes: Choice, 3s 6d.' Onions: , Choice Melbournes, Ds fid; Canterbury, 7s pdr cwt. Tea : Broken "Orange Pekoe, 2s 6d. Butter: Dairy pats, Is sd; separator pats, Is 7d; milled. Is 6d. Cheese, ICJd. Beeswax, lo fid. Bacon, Is Id, Is 2d. Bacon pigs: Prime porkers, 7d. 7fcd; prime baconers, 7Jd; heavyweights, 3Jd to 4Jd. .Honey: Bulk, SJd, 6d; sections, choice, 12s; Jib pats, 3s 9d per dozen; 1-Olb tins, fis fid-, 7s fid each. Eggs: Stamped, 2s 9d; cased, 2s--7d; preserved, la 8d to Is 9d per dozen. Tallow, 225, 22s fid, 245. Molasses, 8s Cd per cwt. Fowl wheat, 4s 2d, 4s 3d, 4s 6d. Oat dust, 3s 6d per sack. Oats: A Gartons, 3a 3d; B, 3a. Oat sheaf chaff: Prime quality, £5, ex truck. Pure sulphate apple wrapping paper, 10 x 10, 3s 3d per ream. Paper bags; Special quotations. Woodwool; Special quality, 30s per bale. Rabbitskina, to 43jd per lb. “Cross Keys” meatmeal, 16s per 1001 b bags. Black leaf 49: 10lb tins, 68s; 2lb tins, ,18s; }lb ,tina, 6s 6d. “Giraffe” brand of lime sulphur: 4gal tins, 2s 9d per gallon; Igal tins, 3s 9d; in casks, 2s. Poultry: Hens, 10 at sa, 29 at 4s 6d, 23 at 4s 2d, 22 at 3s 6d, 28 at 3s 4d, 70 at 3s, 16 at 2slod,2at 2s; pullets, 10 at 9s, 10 at Bs, 10 at 7s 6d, 7 nt 6s 6d, 6 at 6«; cockerels, 44 at 9s, 26s at 7«vd, 14 at 7s, 20 At 6s, 3 at 5s 6d, 29 atSs2d, 9 at 4s 6d, 5 at 3s 2d, 3at 3s; ducks,47 atlOs, 31 at 7s Gd, 16 at Gs 6d, 127 at Gs, 121 atSs 6d, 82 at 6s, 175 at 4s 6d, 138 at 4s; geese, 2 at 7s 6d, 2 at 6s 6d—all at per pair. Turkeys; 10 birds realised 10Jd, 18

E. OSWALD REILLY, Managing Director. • 12-5-23. . Moray place, Dunedin.