COMMERCIAL.

Otago Daily Times, Issue 18999, 23 October 1923, Page 8

COMMERCIAL.

Daily Times Office, Saturday morning. Merchants have been notified that- the suppliers in Australia are unable to execute orders for rice in the meantime. lie shortage follows on .the earthquakes m Japan. , . There has been a slight reduction in the ex store price of sugar, in conformity with the recent reduction of 10s per ton by. the Colonial Sugar Company. A parcel of butter and haricot beans has just been landed. , A lino of Bell’s royal vestas came to hand during the week, and at once went into retail hands. Amongst the lines landed ex Zealandic were a parcel of Bird’s custard powder and a small quantity of Morton’s herrings m sauce. Nelson-grown hops, the first of the season, have just come to hand. Prices remain practically the same as last season. Peanuts are in short supply, and the scarcity will not be relieved for some time. A shipment of Burmah candles arrived during the week. A new line of vinegar is due to amyo on the market next month. It is made in Christchurch, and is quoted at 12s per dozen bottles.

Fresh supplies of Bear’s No. 1 cigarettes are now available.

A supply of Bat-es’a rennet, tablets, is due next week. The quotation is 6s 6d per dozen.

0.0. boot polish is quoted at 9s for large, 4s Gd medium, and 2s 3d for small. Supplies are now available on the local market. Dried apricots, which are not too plentiful. are being offered at Is 3d per lb. N.B. packet peas are practically unprocurable. The Invercargill manufacturers of clothes pegs are quoting 8s per gross for five-gfoss boxes. Supplies of bluestone are short. A line of 101 b boxes of Australian crystallised ginger is due to arrive next week.

• FROZEN MEAT PRICES. (Peb Unhed Press Association.) WELLINGTON, October 20. ' The New Zealand Meat Producers’ Board has received the following cablegram from its London office, dated October 19, 1923, advising Smithfiold delivered prices at that date as follows : Prime Canterbury Lamb. —29-361 b, IOJd per lb; 37-421 b, 10|d; 43-50 lb, 9gd; second quality lambs, lOd; other selected brands of lamb, 29-361 b, 101 d; 37-421 b, 10 l-Bd. Mutton. —Light-weight wethers, 81d per lb; medium-weight wethers, 7Jd; heavyweight wethers, 7|d; ewes, 6d. Ox Beef. —Fores, 2Jd; hinds, 4Jd. The Argentine Government has fixed the minimum prices for beef payable to growers. These prices are higher than the present prices, in eonsequenoe of which. New Zealand beef prices are much firmer. THE OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, October 20 Extremes of weather have been experienced during the week under review. Siinday was like a summer’s day, with a nice cool breeze tempering the heat, hut Monday revived recollections o£ midwinter, and Tuesday was even worse, the temperature being low and rain more or loss persistent. Wednesday started badly, but saw the dawn of a change, and since then the weather has been on its good behaviour. The rain was bv no means unwelcome, but the cold gave things a check, though so far as is reported, it did little damagein the low country, very little shearing having been done and the lambs very generally having gained some strength. How things fared in the back country, where there was a good fall of snow, report saith not, but it may be concluded that there was some mortality amongst the newly-born lambs. Taken for all in all, the season has been a remarkably good one for lambs, and the percentage of increase in North Otago da likely to prove the highest for many years, while the indications given by shearing so far as it has gone are for a good wool clip. Late cereal crops have brairded well, there is a' nice growth of vegetation, and the prospects generally are highly favourable for all rural industriesThe local grain and produce market ha« not experienced any improvement ‘in 'die volume of business, and nothing better is looked for until the next harvest comes in some five months hence. Milling wheat still continues to come on the market in modest lots, and to with acceptance from millers. The most noteworthy feature of the week 'as the appearance of a choice line of velvet of between 100 and 150 sacks, which was ‘cadily placed. Hunters and Tuscan formed the balance of the business. Fowl wheat finds a ready market when it does appear, which is very rarely. This week a line of good grain was placed at ss, f.0.b., whflSh returns the grower about 4s 9d net. There has been a slight firming «.f cats, but little business has been done. No transactions in A grade Gartons are reported, holders looking for about 3s, which is a good deal above current values. Some B Gartons have changed hands at xmntry stations at 2s 7d and 2s 74d net, and a sale of medium quality Algerians at 2s 9d net at a country station gave variation to® the routine of late. The sale of a lino of linseed,. the first this season, is reported at £IS 6s, less commiselon, at a country station. Some chaff has been offered, but the quality did not induce business. Potatoes retain their value locally, and for a nice line of table Up-to-Dates £ll 10s net on trucks was given There is nothing doing in seed potatoes, and merchants who hold stocks report that they are going out very slowly. The stock market continues somewhat slow. The inquiry for ewes with lambs is still active, but there are few sellers. One big line, however, changed hands this week. It consisted of mixed sound-mouthed and failing-mouthed ewes, and the price was 230 6d. all counted. Fat sheep continue to sell well, but nothing approaching the sensational is reported in the matter of prices. At the weekly sale only three pens were offered, wethers bringing 42s and 435, and ewes 345. By private treaty wethers have been sold at from 40s to 435, most of the business being done at the higher figure. No other sheep were yarded, and private sales have been few, and at the following prices: —Full and failing-mouthed ewes, with lambs, 22s 6d, all counted; failingmouthed ewes, with lambs, from 18s to 225, all counted; guaranteed full-mouth station halfbred ewes for forward delivery, 31a 6d; wether hoggets, 30s. The most important business in cartte has been done in fat stock. The«, was only a small yarding at the weekly sale, when some light-weight bullocks brought from £9 to £l2, and heifers from £7 15s for light to £l3 15s for good heavy-weights. Sales by private treaty have been made as follows, according to bulk and finish; —Bullocks, £l2 to £.15; steers, £l2; cows, £7 to £ll 10s; heifers, £l2. There has not been much doing in store cattle, and the range of prices under the hammer and privately has been as follows;—Three-year-old steere, £G to £7 10s; two-year-old steers, £3; eighteen-month-old steers, £4; two-year-old heifers, £3 10s; mixed-sex yearlings, 355. As to dairy stock, there has been nothing of particular note. _ There arc no sellers of a good class of milkers, but a great many of those of a mediocre or poor class. There was a big yarding at the weekly sale, when the best of the cows in profit touched IS, and the remainder of the offering graduated downwards. Privately, cows coming to profit have been sold at from £6 to £B, and heifers (mostly two-year-olds) at from £5 to £6 10a LONDON WHEAT MARKET. Proas Association—By Telegraph—Copyright LONDON, October 21. Wheat cargoes are quiet. Sellers have reduced prices by 3d, but buyers are still reserved. Parcels are steadier.—-A, and N.Z. Cable,

SOUTHLAND MARKET REPORT. (From Our Own Correspondent.) INVERCARGILL, October 19. Oats.—-In consequence cf business which has been done with Australia the market is decidedly firm, and an advance in values is quite possible seeing that stocks are already in auoly small compass. Quotations at present being made by merchants arc at recent rates, but some holders are now asking 3s 5Jd for A’s, though still willing apparently to accept a certain amount of business in B's at 3s 3d and C’s at 3s Id. Stocks of the last have recently been strongly depleted. Offerings from fanners have new entirely ceased. Chaff is offering in quantities rather under the demand, any prime quality for immediate delivery would bo accepted by buyers at £4 per ion. Lower quality on tho other hand is well nigh unsaleable. Fowl Wheat.—This is in fair demand, hut during tho last week or 10 days prices have receded, Is 3d per bushel, sacks extra, country sidings, being the best price now pbtainable. Ryegrass.—Nothing whatever is now offering from growers, and merchants' stocks are much smaller than usual for this time of year. Very little wholesale business has taken place during the lust two or three weeks, but stocks are so low that holders are firm in their ideas of prices, which are on u basis of 7s 6d for 271b-281b machinedressed seed. Anything approaching a demand would soon absorb the small quantity of seed which is now available. Slock. —There have been fairly good yardings for fat cattle and fat sheep at recent sales, and prices for ox beef range from 42s fid per 1001 b, heifer beef 3Ss, and cow 35a per 1001 b. Top prices for fat bullocks have been £l7 10s, fat cows £l4, and fat heifers £lO. Eat sheep have been selling fairly well, prices at the last sales being up to Eos, average from 46s to 48s. Store cattle and store sheep remain practically unchanged. The following prices may be quoted:Fat Cattle. —Extra prime bullocks, £l7 10s; average, from £l2 to £l3 10s; extra prime heifers, up to £l3 10s; cows, to £lO. Fat Sheep.—Extra, prime wethers, up to 555; average, from -16 sto 48s; light and unfinished, 365; extra prime ewes, up to S’-s; average, from 35s to 37s 6d; lighter Sorts, 31s. Store Cattle. —Forward three- and four-year-old bullocks, up to £7 10s; two and 2J-year-old steers, from £3 15s to £4 15s; yearling and 18-month-old steers, from 40s to 00s. Store Sheep.—F. and f. ewes, with lambs, from 16s to ISs, all counted; s.m. ewes, from 20s 6d to 22s 6d, all counted: forward four and six-tooth wethers, from 40b to 44s fid; good wether hoggets np to 33a': average, from S7s 6d to 295; extra good ewe hoggets, 365; average, from 33s 6d to 355. LONDON METAL MARKET. Dress Association- —By Telegraph—Copyright LONDON, October 19. Copper: Spot, £6l Is 3d; forward, £6l 13s 9d. Lead: Spot, £27 7s 6d; forward, £26 ss. Spelter: Spot, £33 15s; forward, £32 15s. Tin; Spot, £204 2s 6d; forward, £2Ol ISs 9d. Silver, 31|d per oz.—A. and N.Z. Cable.

LONDON MARKETS. Pres* Association—Bv Teleeraph—Copyright LONDON, October 20. Sheep: Canterbury light SJd, medium Vijd> heavy 7Jd; North Jslaud light 7Jd, medium 7Jd ; heavy 7gd; New Zealand ewes, 6d; Australian ewes, oSd; Argentine light 7d. heavy s?d; Patagonian light 6fd, medium 6d. Lambs : Argentine seconds none offering. Chilled beef: Argentine fores 3Jd. bivßGid; Uruguay fores 3d, hinds oid. Cotton; November shipment, 16.57 d per lb. Rubber; Para, 13d; plantation and smoked, 13gd. Jute: October-November shipment, £2l 15s per ton. Copra: October-Doccmber shipment, £26 10s per ton. Linseed oil, £42 per ton. Turpentine, 73s 9d per cwt. Australian currants. Lexias, unchanged; sultanas, reduced to 5Ss; Three Crown, 535. The best new Smyrnas are making 75s to 80s and lower sorts 52s to 6Ss. —A. and N. 16Cable.

A SOUTH AFRICAN LOAN. Press Association—Bv Telegraph—Copyright LONDON, October 19. Six millions of, the South African loan aro for conversion. This accounts for the fact that the price was 10 per cent, above the Commonwealth loan.—A. and N.Z. Cable. GOVERNMENT BECTJEITIES. Press Association—By Telegraph—Copyright LONDON, October 18. The following are the latest quotations lor Government securities, compared with the prices ruling last week : Last week. This week. £ s. (1. £ a. (i Imp. Con., 24 p.c 58 10 0 58 10 0 IVar Loan, 5 p.c., 1020-47 ... 102 15 0 10,1 0 0 War Loan, 3J p.c., 1025-47... 05 12 B OS 0 0 Conversion Loan, 14 p.c. ... 70 2 6 78 15 0 Com. 6 p.c., 1931-41 104 15 0 104 15 0 Com. 64 p.c., 1022-07 102 12 6 103 0 0 N.Z. 6 'p.c., 102 G-51 109 15 0 100 16 0 N.Z. 4 p.c., 1020 95 7 6 05 7 6 N.Z. 14 p.c., 1040 84 15 0 84 17 S N.Z. 1 p.c., 1045 74 7 G 75 0 0 Vic. 54 p.c,, 1010-40 102 0 0 102 7 6 Vic. I) p.c., 1021-26 07 17 6 07 17 6 Vic. 34 p.c., 1020-40 70 0 0 79 10 0 Vic 11 p.c., 1920-49 71 0 0 73 0 0 Q'land G p.c., 1010-40 104 1 7 8 105 0 0 Q’lnnd 4 p.c., 1024 90 10 0 00 10 0 Q’limd 14 p.c., 1024 90 0 0 0!) 2 6 Q’land li p.c., 1030 80 0 0 00 0 0 Q’land 1 P-c., 1022-47 70 7 G 70 10 0 N.S.W. 64 p.c., 1010-40 ... 107 15 0 108 0 0 N.P.W. B "p.c., 1010-40 103 12 0 101 15 0 N S.W. 55 p.c., 1022-32 ... 100 4 0 100 10 0 N B.W. 4 p.c., 1033 02 0 0 01 17 6 N.S.W. 34 p.c., 1010-50 ... 81 0 0 81 0 0 N.S.W. 3 p.c., 1035 78 0 0 77 12 6 R.A. 64 p.c., 1920-40 107 IB 6 108 2 8 R.A. 44 p.c., 1045 or after ... S 3 17 S 83 7 6 f! A. 3 p.c 64 10 0 64 10 0 W.A. G p.c., 193040 105 2 G 105 2 6 W.A. 34 p.c., 1020-35 85 0 0 84 15 0 W.A. 3 p.c., 1015-35 80 2 6 80 15 0 Tasmania G 4 p.c., 1930-40 ... 108 2 G 103 0 0 Tasmania 34 p-c,, 1920-40 ... 84 7 G 84 10 0 Tasmania 3"p.c., 1920-40 ... 70 0 0 70 0 0 BANK OP ENGLAND BETURNS. Press Association—By Telegraph—Copyright LONDON, October 18. {Received Oct. 10, at 5.5 p.m.) The Bank of England return affords the following comparison with the return for the previous week:— Oct. il Oct. IS. Coin end bullion £125,839,000 £125,842,000 Reserves 23,511,000 24,058,000 Notc-s in circulation ... 123.009.000 123,363,000 Government deposits ... 13,501,000 15,702,000 Other deposits 104,911,000 103,950,000 Government securities ... 41,209,000 41.600,000 Discounts and advances 71,309,000 71,731,000 Proportion of reserves to Per cent. Per centliabilities 19.85 20.09 Short loans 2) 24 Three months’ bills ... 3 3-16 3 1-8 THE TALLOW MARKET. The New Zealand Lean and Mercantile Agency Company has received the following cablegram from its London house, under date October 17: Tallow. —We quote present spot values for the following descriptions; Fine mutton, 42s Gd per cwt; good beef, 41e 3d per cwt; mixed, 3Gs Cd per cwt. The market is inactive. TARANAKI FARMERS’ MEAT COMPANY. RECONSTRUCTION SCHEME. A deputation consisting of Messrs Newton King (chairman) and J. S. Oonnett, representing the directors, Messrs J. M’Leod, P. J. H. White, T. C. List, and W, Ambury, representing the Citizens' Committee, and Mr W. A. Hewitt (Stratford), representing the Taranaki Farmers’ Moat Company, has waited on the general manager of the Bank of New Zealand (Mr Henry Buckleton) and Mr W. D. Hunt, the bank’s nominee on the directorate, and fully discussed the position., the prospects, and the working of the company as reconstructed. The deputation reported that Mr Buckleton and Mr Jaunt showed a desire to meet the company' in. every possible way, pa the hank was anxious to assist the undertaking getting once more on an oven keel. The deputation put forward certain suggestions which they thought would facilitate operations and make for success. Those were favourably considered, and Mr Buckleton promised to recommend their acceptance to the bank's board of directors. The question of a manager was also discussed, and Mr Hunt undertook to get into touch with an experienced and promising man, with a view to securing his services on behalf of the company. The necessity of placing the full 60,000 preference shares was stressed, aft was that of having in hand all the application money before 1 new shaves are issued on October 29. The deputation expressed itself gratified with the reception accorded, feeling that if the bank manager’s recommendations are given effect to there is no reason why the reconstructed company should not carry on successfully.

THE FRUIT AND PRODUCE WORLD. Reilly’s Central Produce Mart (Ltd.) report- Large quantities of potatoes have arrived during the week, all consignments being cleared on arrival. Pull supplies of fruit 5 of all descriptions continue to arrive. We aro fortunate in keeping our store clear

and effecting satisfactory sales for our consignors. Our first consignment oi throe ciie-ss of new potatoes from Hr Bewley, the Peninsula, realised 2s Cd per lb. IVe sola: I Narcissi: Rccurvis, Gs to 9s; others, 3s 6d to Cs. Tulips, Os, 12s per dozen bunches. Pears: Choice desserts, 13s 6d, Its, Ha lid; medium, 10a, 12s; choice cooking, 7s 6d. Apples: Delicious, choice 16s, 17s 6d, 18s, 19s 6d; Doughertys, 12s, 13s; Democrats. Xls 6d, 11s 9d; choice Jonathans, 10s 6d, 12s Gel; choice Cleopatrns, 9s Gd; Stunners, 7s 6d, 12a 3d, 12s Gd, 11a, Ha 6d; cookers, choice 6s Gd; inferior apples, 2s to ss. Lemons: Adelaide, 16s; American. 47s 6d. Oranges: Navels, choice, 30a; Valencias, 25e; American, 40s. Passions: Choice, 27s Gel. Bananas: Ripe, 32s 6d; green, 80s, Mandarins: Choice, 235; others, 15s to 295. Pines; Choice, 28s per case. American grapes, 40s per barrel of 30lb. Brazil nuts, RRI. Peanuts: Choice quality, GUI. Hazel nuts, 61. d. Walnuts, la lid. New season's dried peaches: Choice, Bd. Lexias: Four Crown, 4Jd. Green gooseberries, Old. Rhubarb, Id to 2d. Artichokes, 2?,d per lb. Cauliflower plants, 2s 6d per 100. Cabbage plants, 2s per 100. Asparagus; Inferior, to 8s; good, 10s, lls; choice, 12s, 12s Gel, Hs, 15s. Lettuce, 4s 6d to 7e 6d for choice-, small, Is Gd to Ss 6d. Cabbagesi Choice, to 8s 6d; others, to 6s 6d. Cauliflowers, 6s 6d to 225. White turnips, 4e. Radish, Is 9d. Cucumbers: Choice, 17s, 18s, 19a, 20s 3d; small, 13s to 13s per dozen. Spring onions, Is per bunch. Carrots, Bs. Parsnips, 9s Gd. Onions: choice 12s. Seed potatoes: Arran Chief, 8s; Up-to-Dates, Hs; Sutton's Supreme, Snowdrops, and Early Puritan, 16; Dakota drops, and Skerry Blue, 10s per cwt. Table potittoes: Northern, .-611; southern, £l2. Tea: Broken Orange Pekoe, 2s Gd. Butter:' Separator pate, la 7d; dairy pate, Is sd; milled, la Gd. Cheese, 3RI to lOd. Beeswax, 3s. Bacon; Choice, la Id, Is 2d. Bacon pigs; Prime baconers, to BJd; prime porkers, 8d to B|d; heavy-weights, to 6Jd. Honey: Bulk, 5d to Sid per lb; sections, choice Hs; Jib pats, 8e Rd per dozen; 101 b tins, 6a Gd, 7-s 6d each. Eggs: Stamped, Is 3d, Is 4d ; cased, Is 2d, Is 3d. “Moose” nuts, 17s per 1001 b bog. “Moose” linseed oil cake (the cheapest food procurable), 17s Gd per 1001 b bag. Palmer’s chick food: Special quotations. Tallow, 235. Molasses, 8s 6d per cwt, in caaks. . Oatsbeaf chaff: Prime quality, £5 5e per ton, ex truck; inferior, -£3 ~to. £i. Fowl wheat 5s 3d, 5s 6d. Oats : A grade, 3s; B grade, 2u Bd. 2s lOd. Woodwool: Special quality, 30s per bale. Giraffe brand lime sulphur: 4gal tin, 2s 9d per gallon; Xgal tins, 3s 9d per gallon; in casks, Is lOd per gallon. Black leaf “40”: 101 b tins, 655; 21b tins,' 18s; Jib, 5s Gd. Poultry: Hens realised Cs 4d, 6s, 5s Gd, 5s 4d, ss, 4s Bd, 4s 6d, 4s 4d; puileta realised lls Gd, 7s 6d; cockerels, 6s Gd, 6s 2d, 4s Bd. ■■ Chicks, 6s 4d. Ducks, Bs, 7s 6d; geese, gs (all at per pair). E. OSWALD REILLY, Managing Director, Moray place, Dunedin.