COMMERCIAL.

Otago Daily Times, Issue 19205, 23 June 1924, Page 6

COMMERCIAL.

Daily Times Office, Saturday morning. Parcels of Brazil nuts, drained cherries, and desiccated cocoanut werp landed during tho week. Creamoata and Cerco have been advanced in price in sympathy with the advance of £2 per ton in the price of oatmeal. Thistle semolina has been advanced to Gs per dozen. A parcel of arrowroot landed during the week shows an increased cost. Quotations for California canned fruits received during the week show an advance on previous years, and as tho low prices of tho Australian canners arc not available this year it is possible that considerable quantities will have to lie ordered from California for the local market. Cable advice from San Francisco shows that tho prices of prunes have hardened. Quotations have also been received for new oouson’s Hawaiian pineapples. Tho West Nilus, from San Francisco, is bringing dried fruits, prunes, and canned asparagus, amongst other lines. Further supplies of Gondolier vcrmecclli and macaroni have come to hand The Moeraki has amongst her cargo purina flaked rice, Melbourne onions, dressed rice, boot polishes, Rosella chutneys, etc. Tho Norfolk, duo at the end of the month, has amongst other lines C. and B. anchovy sauce, lucca oil, essences, bovnl, Morion’s curry powder and olive oil, capers, Goddurd plate powder, Stcedmen'o soothing powlers, Yardley’s shaving sticks, etc. The Ruapehu, which is also duo to arrive here at tho end of the month, is bringing ground alum, M'Clinton’s barilla soap, etc. The cheese market shows an improvement following on the higher values recorded te London, and holders / have increased their ideas of value by .Jd to Id per lb. THE TALLOW MARKET. The New Zealand Loan and Mercantile Agency Company has received the following cablegram from its London houso under date 18th instant: Tallow.—AVe quote present spot values for the following descriptions:—Fine mutton, Its 3d per cwt; good beet, 43s 9d; mixed, 38s fid. Tho market is quiet. JULY WOOL SALES. Tho New Zealand Loan and Mercantile Agency Company has received the following cablegram from its London houso regarding’ Ihc. July wool sales: -- List closed Juno 16. The Westnrmoroland, Hororata, Paparoa, Scottish Monarch, and Hertford clips are available. APPLE CHAMPIONSHIP. Tho following apple championships were awarded at the National Dairy Show at Palmerston North: Six Distinct Varieties, Open to the Whole Dominion.- —11. Werner (Alexandra, Otago), 1; F. Peters (Waipawa, Hawke's Buy), 2; Loasby (Greytown North), 3. Collection of Apples, Open to Fruitgrowers’ Associations and Horticultural Societies.—Manawatu Fruitgrowers’ Association, 1. Only entry. Collection of Cookers, Open to the Whole, Dominion.—F. Peters (Waipawa, Hawke’s Bay), 1; H. AVorner (Alexandra, Otago), 2. CUSTOMS AND EXCISE. REVENUE FOR MARCH QUARTER. \ A return was gazetted on Thursday showing, as under, the Customs revenue collected throughout the dominion during tho quarter ended March 31, 1924. The figures for the corresponding quarter of last year are given in parentheses : General tariff, £981,034 (£930,308). British preferential tariff, £790,406 (£737,921). South African tariff. £2378 (£752). Primage, £108,613 (£102,100). Depreciated currency duty, £2871 (£4126), ■Total, £1,835,302 (£1,794,926). Tho total Customs revenue for the year 1923-2-1 amounted to £7,277,433. Tho excise duties collected during the quarter were as follows: Beer, £174,577 (£168,408). Tobacco, £2872 (£2G47). Cigars and snuff, £350 (£291). Cigarettes, £16,294 (£18,098), Total, £194,037 (£189,444)._ Tho total of excise duties for the past year was £716,387. COMPANIES REGISTERED. Notification of the registration of tho. following companies appears in the latest issue of the Mercantile Gazette;—Nelson Young (Limited). —Registered as a private company June 9, 1924. Capital; £3OOO, into 3000 shares of £1 each. Subscribers. Tarras —N. J. Young, 2999; Dunedin—P. S. Anderson, 1. Objects:" To carry on the business of general farmers, woolgrowers, and dealers, and any branch nr subsidiary businesses commonly carried on in connection therewith. Dunedin Ice Cream Manufacturing Corajpany (Limited). —Registered. as a private company June 11, 1921. Capital: £1350, into 1350 shares of £1 each. Subscribers; Dunedin—G. J. Williamson, 450; J. B. M’Cal!urn, 450; E. R. Quin, 450. Objects; To carry on business ns manufacturers of and merchants and dealers in ice cream and of receptacles for the same, and of all materia.o nnd things capable of being used in connection with such business or manufacture. Maude Bros. (Limited). —Registered aa a private company Juno 12, 1921. Office: Severn street, Oamaru. Capital: £3300, into 3300 shares of £1 each. Subscribers; Oamaru -W. C. Gemmoll, 1310; E. A. Maude, 875; II F. Maude, 350; J. A. R. S’ott, 765. Objects. To carry on . the business of motor agenla, dealers, engineers, and mechanics. Malvern Downs (Limited). —Registered as a private company June 12, 1924. Capital: £3OOO, into 3OH) shares of £1 each. Subscribers; Lindis Pass —Hector Gibson. 2999; Dunedin—C. J. Payne, 1. Objects: To acouiro certain lands in the Tarras district and to carry on ihc business bf general agricultural farmers, wool growers, and dealers and incidental.

PRESERVATIVES IN BUTTER. Tho question of prohibiting the use of preservatives in foodstuffs in Great Britain has been the subject of inquiry by a special committee, and legislation is suggested in re. spent to butter so treated. It was recently asked in the British Parliament how many saraples of imported butter were taken in 1923 to ascertain the percentage of added preservatives. The reply was that the number taken on importation and examined by the Government chemist was 665, and of these 299, on 34 per cent., were found to contain preservatives. It was pointed out that samples of butter blended in English factories were taken by local authorities, and ware not generally distinguished in their reports from samples taken from other sources. The total uumben of samples taken by local authorities in 1923 was 10,580, and although tho quantity containing ' added preservatives was not available at the time, only 15 per cent, contained boric acid exceeding 0.5 par cent. There were no regulations in force in the United Kingdom specifically limiting tho percentage of boric acid that may be used in butter, but a limit of 0.5 per cent, was suggested by a Departmental Committee in 1901, and has been generally adopted as the standard for the purposes of tho sale of food and drug Acts., dm FREE PORTS OF MEXICO BZEMFTION FROM TAXATION. Tho Government of Mexico has established four “free ports,” or zones, in which merchandise may be handled and industries operate with complete exemption from Customs’ inspection and taxation, municipal, Fedex-al or State. Two of them, Puerto Mexico and Salina Cruz, are situated at tho ocean terminals of the national railway crossing, the Tehuantepec Isthmus, tho third, Rincon Antonio, is on the railway miaway between the oceans, and the fourth, Guaymas is on the Gulf of California. The zones are enclosed with double fences, lighted and guarded at night. Each free port has railway facilities and is supplied with electric power, while the three ocean ports a,re equipped with modern wharves, electric cranes, and other facilities for handling mcrchand’ise. The object of establishing these free ports is to provide opportunity for enterprising capitalists of all nations to establish headquarters for commerce or begin new industries with economic and geographical advantages “for the easy conquest of new and old world markets.” LONDON MARKETS, Press Association—By Toiorvaph—Copyright LONDON, Juno 21. (Received Juno 22, at 5.5 p.m.) Lambs: New Zealand selecteds, light and medium, 104 d; Australian-Victori.an firsts, 10id, seconds lOd. Frozen beef; Argentine fores 2Jd, hinds 4gcl; Uruguayan fores 2RI, hinds 4pi; ctulled Argentine fores 2-id, hinds sd; Uruguayan fores ijd, hinds 4pi. Rubber; Fine hard para, lid per lb; plantation and first latex crepe 10pl; smoked ■ribbed sheet, lOjJd. New Zealand hemp, July-September shipment, £37 5s per ton. Jute; Indian and native first marks, JunoJuly shipment, £27 12s 6d per ton. Copra, July-August shipment, £27 10s per ton. Linseed oil, £4O 4s per ton, equal to 3s 23-5 d pet gallon. Tuxpcntincj 5s IJd per gallon. Cotton: Liverpool quotation for American middling and upland, July delivery, 16.7 d per lb.

SALE OF CATTLE. At the first annul sale of IL_R. Green’s ‘ Oakview ” Friesian stud at ivatiranga on Friday the total prices amounted to £3153, 10 heifers averaging lOOgs, 17 bulls, all from untested dams, averaging 70gs, end 5 cows a veraging 48ga. There ” was keen competition. Top prices wore:—Heifers: Rose i'oseh 111 of Oakview, tOOgs, A. Cl. Tedcastlc (Victoria); Colantha Springtime, of Oakview, 200 gs, H. G. Tedcustlc; Jessie Monona Sqltntha of Oakview, 170 gs, G. A. Merchant and Son (Cardiff); Minona Johanna of Dellhurst, 207 gs. A. Mountt (Westport) ; bull. Echo Poach of Oakview, 350 gs, H 0 Todcastle. Purchases were made on behalf of John Brown (Newcastle, New South Wales; and Crendleys, Limited (Queensland). At a pedigree Jersey sale by S. B. Lancaster (Palmerston North), the two-year-old heifer, Fox's Best Sultana, fetched the highest price, 190 gs. OAMAEU MARKETS. (Peb United Rp.ess Association. l OAMARU, Juno 21. Good, open weather, though rather cold, was experienced in the earlier jiart of tho week, but this was broken by rain on Thursday and a part of yesterday. The rain, however, has not amounted to much, and farmers have been able to push forward this week the winter solving of wheat, which is now about completed. The advent of frosts and cold weather has checked the growth of grass, but cereal crops through tho ground continue to move forward. Though feed cannot be described as abundant, the supply should be sufficient to carry stek well into the spring. This • assurance ot feed has been reflected in the stock market, and a good number of sales of sheep are reported. No indication of impending activity was given at the weekly market sale, for tho offering of sheep was small, and consisted almost entirejy of fat animals. These sold aa follows: Prime wethers, 33a to 34s 9d (a few of extra quality to 37s 3d); medium wethers, 30s to 325; prime medium-weight ewes, 21a 6d to 23s Gd. A solitary pen of aged owes in lamb represented tho stores, and these went At 15s. The real business has been done by private treaty, a largo number of sales being in lines of from too downwards. Ewes in lamb have constituted the larger part of the business, and the prices recorded afford a fair indication of the desire of farmers to stock up with breeding ewes of good quality. This has been further demonstrated by the demand for ewe hoggets and the prices that have been paid. The range of prices generally has been as follows:-Two-tooth owes of extra quality, 425; good three-quarterbred six and eight-tooth ewes, 3Gs; sound-mouthed ewes, 30a to 32s fid; several lines at the higher figure; aoundmouthed halfbred ewes, 355; failing-mouthed owes, 15s to 20s; 400 crossbred ewfc hoggets, 2Ss 3d; a smaller line of croosbred ewe hoggets, 235; extra good mixed-sex hoggets, 70 per cent, ewes, 28a fid; good three-quarter-bred hoggets, 20s; 300 good Corriedale wether hoggets, 235; crossbred wether hoggets, 21s; cull hoggets, 20a; full and failingmouthed merino cross halfbred wethers, 19s. There is etill only a small amount of business passing in cattle, and tho most noteworthy fact is the clearing out of a lot of poor stuff that merely encumber the farm. As to fat animals, the only business of the week was clone at the market sale, when only eight head were offered. These sold as follows Light-weight steers, 4'5 10s to £C 23 fid; unfinished steers, £3 to £4 10s; fat cows, £c 7s fid to £7 ss; light and unfinished cows, £3 10s to £4 15s. For the- most, part tho stores handled have been poor stuff,, the most noteworthy exception being a good line of three and a-half and four-year-old Hereford steers, which changed hands at £6 10*. The other sales under , the hammer and privately have been ao follows: — Eightcon-month-old steers, 25s ; calves, 7s Gd to 10s; cows, 15s to 30s; hulls as potters, 20s to 30s. Only a comparatively email number of dairy cattle have been dealt in, and there has been nothing of note In tho prices. At the weekly sale the beat of the cows in profit offered brought £6 ss. while other prices ranged down to £4, and heifers due to calve in the spring went at £2 2s fid. Sales by private treaty have included good cow's at profit at from £G to £8; aged cows at profit from £2 to £3; and cows due to calve in August and September at from £3 to £4. The grain and produce market continues alow. A surprise was afforded by the appearance of a modern line of Tuscan wheat, which passed into a glister's hands at lull price. . There has been little doing in oats, but several lota of A grade Oartons have changed hands at 5s net, both on trucks and delivered in Oamaru. A number of samples of cowgraso seed are on the market, but growers are asking prices above what merchants are prepared to give One substantial line of tally clean seed was disposed of at Bd. leas commission. A fair amount of business continues to be done in chaff, for which a demand exists Good bright oatensheaf chaff has been sold at £7 net, and £7 ss, less commission, both as at country, while a line of fair average quality was taken at a country station at £S Ida net. THE MEAT MARKET. (Per United Press Association.) WELLINGTON, June 21.The New Zealand Meat Producers’ Board has received the following cablegram from Us London office, dated June 20, advising tho Smithfield delivered prices at that date, as follows: Now Zealand Wethers and Maiden Ewes.— Canterbury quality, selected brand*, 56 o and under, 7£d per lb; 571 bto (Ulb, 7d, Golb to 731 b, Bid; other brands. 661 b and under, 7d; 571 b to 641 b, 6gd; 651 b to 721 h, 6*d; New Zealand ewes, 641 b and under, 5Jd. New Zealand Lambs.—Canterbury quality, Sfilh and under, lid; 371 bto 421 b, lid; 431 b to 50lb, lOd; seconds, 10Jd. Selected, SGlb and under, Hid; 371 b to 421 b, lljd. Other brands: First quality, 421 b and under, lOicl; seconds,, lOd. New Zealand Beef.—Ox tores, 9Jd; ox hinds, 4),d; cow fores, 2id; cow hinds, 4Jd. .Argentine Chilled Beef—Ox fores. 2d; ox hinds, sd. Argentine Frozen Beef—Ox fores, 2£d; ox hinds, 4£d. Frozen pork is not quoted.

THE FRUIT AND PRODUCE WO RED Reilly’s Central Produce Mart report: Prices are firmer for most lines of fruit and produce. The market is well supplied with citrus fruits. Cooking and dessert apples are getting short of requirements. During the last week large consignments of eggs have com© forward, and prices show a considerable decline. We received and Bold: Narcissi, sd, Gd, Bu. Violets. 3d, 4d, 6dGrapes: Gres Colmars, 2a Id, 2s 3d; Australian, Is. Tomatoes: Christchurch hod house, lOd to Is 4d; local, Is 3d, Is 7d ; outside. 2s to M. Roars: Winter Nolis, 4d. 4Jd; Coles, 3d, id; small, 2d; cooking, 3d. Apples; Choice Jonathans, 10s, llu; Delicious, ins. 12s 6d;. Scarlets, fia. 3s; Cleopatras, Bs, IDs; other desserts, 6s, Bs ■, choice cookers, 6s Gd, 7s 6d. Californian oranges, 345; Rarotonga repacks, 15s; Australian Navels, 17s, 20s. American lemons, 365; Melbourne, 17s. Passion fruit, 17s 6d. Pineapples, 15s. Grape fruit, IGs. Bananas; Ripe, 30s; green Rarotonga. 12s 6d to ISs; Fiji. 21. Prizewinner tinned pines: Slices, v« 3d; cubes, Bs. Choice dates; Packets, os, 7e. Peanuts: Choice quality, 6d. Walnuts, Gd. Kid. Almonds. 10id. laiyer tigs, Hid. Prunes, 5d Lexias, 4d. Pickling onions, 2d. Vegetable marrows, 12s, 14s. Pumpkins, 12s. Jam melons, 10s, It’s. Potatoes; Stirling, Out ram, Bs, 6s Gd; Oa, mams, Waimatca, 7s Gd. Carrots, Ba. Onions; Melbourne, I7s. Swedes, 3s. Parsnips, 9s Gd cwt. Cabbages: Choice, Gs, 12s. Cauliflowers: Choice, 10s IGs. Lettuce : Choice, 2e. Tea: Broken Orange Pekoe, 2s Gd.’ Butter: Separator pats, Is fid; dairy pats, la sd; milled, Is sd. Cheese, BJd, 9 id. Beeswax, la 6d. Preserved ginger, Is 2d. Hams, Is 2d. Bacon, la Id for choice. Pigs: Prime baconers, Old, 7d; prime porkers, 7d; heavy-weights, to 4d. Honey: Choice bulk. 51d; 10lb tins, 5s Gd, (ki; pats, 4s 3d; sections, choice, 103, 12a. Eggs: Stamped, 2s 3d; cased, 2= Id; preserved ,Is 7d, Is Bd. Egg crates: Champion 24-dozen, 17s Gd; Economic 23-dozen, 15s. Fowl wheat, os 9d, 6s. Oats: A Gartons, S 3 3d; B Gartons, ss. Prime oatehcaf chaff, £s’cff PS 10s per ton, ex tmek. Crushed p-aa;' 150'a, 16s Gd.. Arsenate lead powder: lOOib kegs, la sd; 561 b kegs, Is- oa. Spreader; Cases, U)d. Black Leaf “40”: 101 b tins, 595. Woodwool: Special quality, 30a ner bale. Molasses: Casks, IDs cwt. Vallo-Giraflo brand lime sulphur; Casks, la lOd gallon. Atomised sulphur, 9d. Arsenals lead” paste: 1001 b kegs, lOd. Petroleum emulsion: Barrels, 3s Gd. Blue-stone, 453 cwt. Poultry: Hens realised 3s to Ks ; pullets, 8a; cockerels, 3a to 9s; ducks, 5s 2d to 7s; geese, 6s (all at per pair). Turkeys, 10Jd to Is Id per lb. E. OSWALD REILLY, Managing Director, Moray Place, Dunedin. ■ —-———• BUTTER AND CHEESE. Press Association —By Telegraph—Copyright. LONDON, June 20. Butter is steady, with an easier nndoiv tone in consequence of the possibility of steady suoplios from Franco and Siberia. IDs to 1745; New Zealand, 17Ga to 178 s; Danish, 180 s to 183 s. Cheese: New Zealand, 80s to 90s.—A and N.Z. Cable. BRADFORD TOPS. Press Association—By Telegraph—Copyright. LONDON. June 20. The Bradford top market is patchy, and p.icos generally are in buyers’ favour. The turnover is extmmoly limited. Quotations are nominally unchanged.—A. and N.Z. Cable.

LOXDOX MBTAIi MAKKET. Press Arsociatlon —By Telegraph—Copyright, LOXDOX, June 10. Copper: Spot, £6O 180 9d; forward, £6l 16s 3d. Lead: Spot, £3l 15o; forward, £29 15s. Spelter: Spot, £3l 7s Cd; forward, £3l ss. Tin: Both positions £217 17s 6d. Silver, 31 £d par oz.—A. and X.Z. Cable, DANK OF ENGLAND RETURNS. Frees Association —By Telegraph—Copyright. LONDON, June 20, The Bunk of Enghmd return affords the following comparison, with Hi? return for the previous week : Juno 11. June 18. f’oin and bullion ... ... £12(5,384,000 £12(5,40(5,W3 Reserves 21.827,000 22,498,000 Notes in circulation ... 126,130.000 123,485,00.) Government deposits ... 10,747,000 11*229,000 Other deposits 322,23(5,000 113,236,000 Government securities ... 38,917,000 Discounts and advances 70,051,(XX) Proportion of reserve to Per cent. Per cent. liabilities fchorfc loans 2g 2J Three months’ bills ... 2J 215-10 FOREIGN EXCHANGE RATES. Press Association —By Telegraph—Copyright. ** LONDON, June 20. The exchange rates are a+> follows: Far. June 10. June 20. Paris, fr to £1 23.223 78.40 80.23 Brussels, fr. to £1 23.225 90.13 92.38 Christiania, kr. to £1 ... 18.139 31.90 22.03 Copenhagen, kr. to £1 ... 18.139 23.00 23.63 Stockholm, kr, to £1 ... 18.139 16.27 10.27 Berlin, marks to £1 ... 20.13 18 18f billions, billions. New York, dol. to £1 ... 4.80 4.32* 4.32;)Montreal, dol. to £1 ... 4.86 4.391 4.40^ Romo, lire to £1 22.22* 3003 Yokohama, Ft. to yen ... 21.5 221 22JKongkony. sG to doL ... * 28 29 Calcutta, st. to rpe 10 to gold £1 17 16 31-32 ♦Determined by price of silver. GOVERNMENT SECURITIES. Frees Association—By Telegraph—Copyright LONDON, June 20. The following are tho latest quotations for Government securities, compared with the prices-

ruling laet week:— Last week. This week. Imperial can.-nla, 2k p.r. War loan, 3 in2l)-47 £ 57 101 2 • 2 6 6 £ 57 101 15 10 0 0 War loan, 35 p.r.., 1023-28 Ct-n. loan, .'15 p-r. ... 06 n 17 2 6 6 07 78 0 10 0 0 O’wpaUh, 6 p.o., 1001-11 ... 106 7 6 106 10 0 C’woalth. 54 yor., 1022-27 101 10 0 101 10 0 N.Z. 6 p.r., 1006-31 N.Z 4 P.r... 1020 ... ... - 110 06 15 0 0 0 110 05 17 17 6 8 N.Z. 04 p.o., 1M0 X.Z. 3 p.o., 1045 X.S.W. 65 p.o., 100040 E 84 • 77 ion 5 0 5 0 0 0 84 77 100 2 10 2 0 8 N.S.4V. 6 p.o., 1030-40 ... X.tkW. 5J p.c., 1022-32 N'.ir.W. 4 p.r., 1033 ... N.S.W. 35 P.r-, 1030-50 n.s.w. n p.o., loos ... :: 104 101 n 83 78 17 2 5 7 O H 6 0 6 O 105 101 02 83 77 2 7 10 5 15 8 8 0 0 O Vio. 55 p.p., 1030-40 "Vic. 35 p.r., 1021-26 ... ... 102 08 17 7 R R 103 08 2 7 6 8 Vic. 3J p.r., 1020-40 ... 70 7 fi 80 0 O Vio. 35 P-r., 1020-40 ... ... 73 0 O 73 10 0 Q’lantl, 6 p.r,, 1030 40 Q’land 4 p.r.. 1024 O’lanil 35 P-r-, 1024 Q'land 35 p.r.. 103O_ Q’land 3 p.r., 1023-47 S.A. 64 p.r., 1030 40 ... ::: 105 on on no 71 ion 7 10 10 17 5 2 6 O 0 8 0 8 105 on on 01 71 100 10 15 15 5 0 0 0 0 0 0 0 0 S.A. 44 p.r., 1045, or S.A. 3 p.r., 10.10 AV.A, 6 p.r., 1030-40 W.A. "4 P-r., 1020-35 after 83 ru 104 87 10 15 0 5 O 0 0 0 84 81 103 87 0 15 17 5 0 0 6 0 W.A. 3 p-r., 1015-35 ... ... 82 7 6 82 5 0 Tar. 65 P-r., 1030-40 ... ion 7 8 100 7 8 Tas. 35 p.c., 1020-40 ... ... 83 0 0 83 12 6 Tas. 3 p.c., 1020-40 ... ... 77 0 0 77 15 0