COMMERCIAL.

Otago Daily Times, Issue 19000, 24 October 1923, Page 6

COMMERCIAL.

LONDON WHEAT MARKET. Press Association—By Telegraph—Copyright LONDON, October 22. Cargoes c.re steadily held, but the adverse exchange prevents an expansion of Continental demands. Parcels arc firm at an advance of 3d. Australian, December shipment, 455; January-February shipment, 44s 9d.—A. and N.Z. Cable. BRADFORD WOOL SALES. Press Association— By Telegraph—Copyright LONDON, October 23. (Received Oct. 23, at 7.30 p.m.) At Bradford merinos are stagnant, and there is small inquiry for crossbreds. Business is quiet, awaiting the opening of the London sales.—-A. and N.Z. Cable. RATE ON BANK DRAFTS, PrMi Association—Bv Telegraph—Copyright LONDON, October 23. (Received Oct. 23, at 7.30 p.m.) Th© Associated Australian Banks on November 2 will reduce the buying rate on drafts on Australia by 5s per cent. —A. and N.Z. Cable. GRAIN AND PRODUCE. Messrs Dalgety and Co. report as follows: Oats.—Grade oats are inquired for at quotations, but other descriptions arc slower of sale. We quote:—A Gartons, 2s lOd; B Gartons, 2s Sds under-grade, from 2s per bushel, sacks extra. Fowl Wheat. —Good whole fowl wheat is realising up to 4s lid per bushel, but tho demand is easier. Potatoes.—Consignments from Canterbury are heavier owing to the fact that northern markets are over supplied, and as a result prices locally have taken a decided drop. Good tables are worth up to £lO 10s per ton. Chaff.—Medium and inferior quality chaff is in over supply and ia very s.ow of sale. There is a good inquiry for prime quality at quotations. We quote:—Prime eaten sheat, £5 Ss; good to best feed, £4 to £4 15s; inferior, £2 to £3 10a per ton, sacks extra. Mlessrs Donald Reid and Co., report as under: Oats. —We quote: A Gartons, 2s lOd; B Gartons, 2s 8d; under-grade, from 2s per bushel (sacks extra). Wheat. —Good fowl wheat is saleable at 4s lid (sacks extra). Tho inquiry has cased slightly. Potatoes.—The market for good tables is much easier, and freshly picked lines are offering at £lO 10s. Chaff. —Prime chaff is in good demand at £5 ss, while medium lines are hard to quu at £4 to £4 15e, sacks extra. DEAR POTATOES IN SYDNEY. Press Association—By Telegraph -Copyright SYDNEY, October 23. Owing to the email supply of potatoes yesterday an unprecedented rise is reported, the price reaching £‘26 10s per ton. DAIRY PRODUCE. The Natiohal Mortgage and Agency Company are in receipt of the following cable from Messrs A. J. Mills and Co., London; Dairy Produce.—The butter market is quiet at 190 s to 1925. Cheese is steady at U2s to 114 a. Messrs A. S. Paterson and Co., Dunedin, are in receipt of the following cablegram from Messrs J. and J. Lonsdale and Co. (Ltd.), dated October 22: Butter; The market is dull at 190 s. Cheese is alow at 110 s to H2s. LONDON METAL MARKET. Press Association —By Telegraph—Copyrigh LONDON, October 22. (Received Oct. 23, at 10.25 p.m.) Copper: Spot, £6O 8s 9d; forward, £6l la 3d. Lead: Spot, £2B; forward, £26 12s 6d. Spelter; Spot, £33 7s 6d; forward, £32 7e 6d. Tin: Spot, £2Ol 16s 3d; forward, £2OO Is 3d. Silver, 32-i’d per oz,—A. and N.Z. Cable. LONDON MARKETS. (Peb United Press Association.) WELLINGTON, October 23. The Department of Agriculture has received the following cablegram, dated October 21, from the High Coramissionef for New Zealand in London; — The butter market continues slow, and prices are again slightly easier. Official quotations are, per cwt; New Zealand salted, finest, October 21, 190 s to 192 s (Is Bsd to Is Bsd per lb); exceptional, 194 s to 196 s (Is SJd to Is 9d per lb). Unsalted, October 21, 201 s to 20tte (Is 9Jd to la lOd per lb); other qualities, October 21, salted 186 s to 18Ss (Is 7Jd to Is 8d per lb); Australian salted, finest, October 21, 184 s to 183 s (la 7sd to Is 8d per lb); uncalled, October 21s, 192 s to 194 s (la Bsd to Is ,BJd per lb); other qualities, October 21, salted 170 s to 176 s (Is

6sd to Is Csd per lb); Argentine finest, October 21, 176 s to ISOs (Is 61d to Is 7id per lb); exceirtional 186 s (Is per lb); other qualities, October 21, 130 s to 174 s (Is 4sd to Is GJd per lb); Danish, October 21, 200 s 2025, and 201 s (Is Old to Is OJd per lb). Cheese.—The market is firm for English. Colonial remains quiet. Official quotations: English, finest farmers’, October 21, 135 a to 145 s (Is 21d to Is 3id per lb); Canadian, finest, October 21, coloured 114 a to 116 s (la Old to Is Old per lb); white, 112 a to Ills (Is to Is Old per lb); other qualities, October 21, coloured 112 s (Is per lb); New Zealand finest, October 21, coloured 114 s to 116 s (Is Old to Is Oid per lb); svhite, 112 s to 116 s (Is to Is Oid per lb). Shipments of New Zealand produce arrived this week by the s.s. Devon and Port Sydney.

Hemp freight from Manila to Great Britain and the Continent has been reduced by 60s per ton as from October 13. The freight to the United States will be reduced oy 17s per ton as from December 1, 1323. Prices declined early this week about 40s per ton, but at the close the market was firm, with a good demand. J grade, October-Decembor shipments, scrid at £3l 15s per ton; Novcm-ber-January shipments at £32. Kew Zealand is without interest, and values are nominally unchanged. Wool.—Tlier© is active buying at the provincial sales. The Bradford market shows a better tone, and good business has been done in crossbred tops, 4G’s to 56’s quality. Present quotations are: G4's merino, 5s Id; £G’s super halfbrod, 3s Oid; 40’s prepared (coarse crossbred), Is 4Jd. Eggs.—Tile market shows some improvement on account of smaller arrivals. The Mow Zealand Doan and Mercantile Agency Company have received the following cablegram from their London house under date October 13: Mew Zealand Frozen Meat.—Lamb, 10}d per lb (average). Mutton: Wether and maiden ewe, light 8d per Hi, heavy 7sd; ewe, light 6d, heavy 54d. Beef: Prices are unchanged. Mew Zealand Dairy Produce.—Butter, 190* to 106 s per cwt. The market is slow. Cheese, 112 sto 116 s per cwt. Supplies are small. FOREIGN EXCHANGE RATES. Press Association—By Telegraph—Copyright LONDON, October 22. The exchange rates are as follows: Tendon on I’ar. Oct. 18. Oct. 22. Paris, fr. to £1 25.225 75.40 77.50 Brussels, fr. (o £1 25.225 87.25 00.25 Christiania, kr. to £1 ... 18.15!) 29.17 29.43 Copenhagen, kr. to £1 ... 18.159 25.77 25.86 Stockholm, kr. to £1 ... ,18.159 17.19 17.13 Home, lire to £l 22.231 99} 100 J New York, dot. to £1 ... 4.86 4.52 J 4.50$ Montreal, dnl. to £1 ... 4.8 S 4.584 4.36$ Yokohama, st. to yen ... 21.5 25J 35 15-16 Hongkong, dol. to £1 ... * 27$ 27J Calcutta, st. to rpc. 10 to gold £1 16$ 16J • Determined by price of silver. The exchange rate on Berlin (par 20.25 marks to the pound) is nominally 35 to 45 milliards.— A. and N.£. Cable.

Scott Bros, produce merchants and commission agents, agents for the Egg and Poultry Growers’ Association, Dunedin, report; Eggs; The market is steady at preserving rates. Buttor: Dairy pats, Is 4d per lb. Honey: Slow; prime clover bulk, Dd to 5d per lb, 10lb tins, 6s each. Beeswax, Is 6d to Is 7d per lb. Pat, 20s to 23s per cwt. Poultry: Heus, is to 4s 6d per pair; cockerels, 6s 6d to 7s 6d per pair; os to 6s per pair; geese, nominally 8s per pair. Turkeys: Hens, lOd per lb; gobblers, lid per lb. Pigs: Baconers, 71d to 8d per lb; porkers, 7d to 7id per lb. Potatoes: Market easing; Best tables, .-610 to £lO 10s per ton. Onions; Melbourne, 10s 6d per cwt. Chaff; Wanted; prime oaten sheaf, £5 to ton, sacks extra; medium quality in over supply. Oats, 3s 2d per bushel, sacks extra. Whole fowl wheat, 5s 3d per bushel, sacks extra. Straw; Pressed whealen, £3 15s; oaten, £4 10s per ton, ex store. Please Note: Pigs and poultry must arrive not later than Thursday mornings. We can supply petrol, motor lubricating oils and greases, lucerne, and poultry meal, hulled oats, shell grit, Pareora meat meal, leg rings, toe punches, charcoal, wire netting, Star brand chicken food and egg crates. October 23.