COMMERCIAL.

Otago Daily Times, Issue 19271, 8 September 1924, Page 6

COMMERCIAL.

Daily Times Office, Saturday moning. Old Dutch cleanser is now quoted at 27s 6d fj five-case lots. A parcel of 28lb bags of Smyrna figs has arrived. The price quoted is 6d per lb. A alight reduction in the price of Camp and Symington's coffee essences has taken place. The former is now quoted at 22s 6d and the latter at 21s 3d. Supplies of Colgate's shaving eticks, which have been very short, are expected to arrive in two or three days. The Sussex, which is dus to arrive from Calcutta and Singapore within the "next week, carries full supplies of sago and tapioca. There has been a decided shortage of fine salt lately, but this will be relieved by the arrival of the Kaikoura next week. This vessel has fair supplies on board. The cheese market is pretty firm at present, with a strong demand. • Current quotations are: —Medium, 9Jd per lb; mature, lOJd; loaf, lljd. The hoavy demand for tinnod fruits has considerably reduced the stocks in merchants' hands. Supplies of Californian, which will not come to hand until early in Novomber, are expected to command much higher prices than those ruling lately. SOUTHLAND MARKET REPORT. (From Our Own Correspondent.) 'INVERCARGILL, September 5. Oats.—The market is in a decidedly acute stage at present. Merchants, one and all, are hard put to it to meet the demands from farmers for seed purposes. Duns, black, and Sparrowbills are quite off the market, though probably one or two firms are still in the position to supply small lets of either of the darker varieties. Some are in the position that they are compelled to dress B grade for seed, and in doing so are trenching upon stocks which they require to meet their commitments for the shipping trade later on. In the knowledge of the oldest salesman in the trade, oats have never before been in such short supply in Southland. A line of 100 sacks of oats of good quality offered by a grower yesterday found a buyer at 6s lOd. Some growers holding slight surpluses of 50 to 100 bags of A Gartons have refused to accapt offers as high as 6s 6d, which were made by merchants who were so short that they were ■willing to pay this price to meet the 'requirements of their clients for sowing down. These prices are on trucks in the country, and on the average exceed -by about 7d of the nominal f.0.b.,5.i. values. Chaff.—Various small lots have been offered during the last fortnight by growers, and i.; the majority of cases have been accepted by merchants at £7 per ton on trucks. Some sellers have refused to quit, being, under the impression that still higher prices will be obtainable later on. Fowl wheat of local origin is quite off the market. To-day's values of anything that might be offered would be 6s per bushel, o.t. at farmers' sidings. Ryegrass.—The local demand for sowing down is extremely strong. This alone is rapidly diminishing the smaller stocks held by merchants, and if anything in the nature oi a demand worth talking of sets in, from outside, stocks will soon *be cleared, and during the process prices must inevitably rise. In the meantimo Australian buyers do not seem disposed for business at current quotations. It is almost inevitable that ere long they will be forced to pay enhanced rates. STOCK. Fat Cattle.—The market remains much the same as in our report of the previous week. Extra prime ox bee,f (a shade easier on our last quotations) may be quoted at from 35s to 37s 6d per 1001 b; extra-prime heifer beef from 30s to 32s 6d per -1001 b; prime cow beef, from 27s 6d to 30s per 1001 b. Extraprime bullocks, up to £l7; average prime bullocks are selling at. round about £l3 to £ls; medium bullocks, from £ll to £l2; light and unfinished sorts, down 0b £9; extra prime heifers, from &> to £10; average prime heifers, from £8 to £9; light and unfinished sorts, down to £5; extra prime cow 3, up to £9; average prime cows, from £6 to £7 10s; medium prime cows, from £5 10s to £6; light and unfinished sorts, down to £3. Fat Sheep.—Since our last report prices have firmed a little, and prime heavy-weight wethera aro bringing up to 50s; average prime wethera, from 41s to 46a; medium prime wethers, from 33s to 425; prime average ewes, no ewes coming on the market. Store Cattle. —Since our last report a good number of cattle have come on the market, and the following prices may be quoted: Two-year-old steers from £2 10s to £3; three-year-old steers, from £1 5s to £5 15a; yearlings, down to 355; good three and four-year-old conditioned bullocks up to £8; two and two and a-half year old forward conditioned steers up to £5. The above remarks also apply to dairy cows—more sellers than buyers. Extra good cows realise up to £10; average sorts from £4 to £6; inferior, down to 255. Store Sheep.—Two and four-year-old ewes up to 503; owing to the dry season and turnips just about eaten off, the market is a little easier, and eight-tooth ewes are selling at from about 32s to 355; good lines up to 36s f. mouth ewes, from 22s to 25s extra good sorts, up to 235. There have been a number of sales of hoggets made during tho week. Good ewe hoggets are realising up ! to 35s wether hoggets up to 335; m.s. hoggets, from 29s to 31s; two and four-t&oth wethers are selling exceptionally well at from 35s to 38s; four and six-tooth wethers from 37s to 395; cull wethers from 30s to 32s 6d. THE OAMARU MARKETS. (From Ocb Own Correspondent.) " OAMARU, September 6. Another week almost devoid of rain haß been added to the growing record of dryness. For the whole of August, which is usually a month of good rains, the total rainfall in Oamaru was only 76 points, and the significance of that small supply will bo obvious when it is stated that for the five months from April to August inclusive, the autumn and winter seasons, the total rainfall was only 4.82 in. Some country localities have fared a little better, but everywhere, except in the ba-ck-country a good rain is urgently needed, for things are really bad. There is a scarcity of feed and the cereal and other crops that have been sown need moisture to either give them a start or keep those that are up moving. Yesterday aftennoon & light rain of an intermittent nature set in, and encouraged a hopo that it would become more pronounced and continue for some time, so that the thirsty land might be well supplied with moisture. But the result was another disappointment, only a few points of rain being recorded—just about enough to sprinkle the foliage of such crops as are well through the ground. The dry weather has been of benefit to the lambs, which are now malting their appearance considerable scale on the low-country farms. But there arises the question whether the owes will obtain sufficient feed to suckle their lambs and keep them growing and strong. This prolonged absence of a good rain has had a paralysing effect upon business ,in all directions, and there is little to report. The stock market tisually experiences a slow time at the stage of the year, when lambing is in progress and ewes cannot be shifted. But it is not only in this class of sheep that business is about at a standstill. Fat stock are not available, and butchers are under the necessity of seeking supplies from Burnside. Tlie offering of fat animals at the market sale was confined to 14 head. Of these one prime wether brought 57s and a dozen otheiß 46s 3d, while a single fat hogget realised 455. The only other sale of sheep made under the hammer was one small line of merino ewes, which changed hands at 18s. A small lino of two-toothed ewes failed to roach the vendor's reserve, but a part of the number were sold privatly on the ground at 435. The only transaction in sheep by private treaty reported is tho sale of a line of just over 300 six and eight-tooth halfbred ewes in lamb, and described as of extra quality, at 345. Business in cattle has also been on similar restricted lines. Only a single fat animal was to be found in the pens—a light cow lacking finish, was knocked down at £3 lfla.

The stores consisted wholly of cows, and these went at anything from 15s to 30s. In a bigger yarding of dairy cows than has been aeon for some time there was only one cow that commanded any respect. She was exceptionally good and only just come to profit, and she found a buyer at £9. The rest were either of inferior quality or out of condition, and while the best of them brought from £3 to £4 17s 6d, it was found impossible to quit the whole of the others at the low prices going of "10s to 235. Outside of .the sale of a line of fat bullocks of medium to heavy-weight at £ls ss, no business has been done privately in cattle of any description. As to the grain and product market, there remains practically mothing to sell, with the exception of some cowgrass, which no one was found ready to buy at the prices asked for it by holders. A line of feed Gartons was acquired at a country station at 5s 6d not, and a lino of oatensheaf chaff was purchased at £7, net, on trucks. These two transactions, with some small lots of chaff at £7 10a, ex store, make up the sum total of the week’s business in the way of purchases from growers. LONDON TALLOW MARKET. The New Zealand Loan and Mercantile Agency Company have received the following cablegram from their London house, under date 3rd inst: — Tallow.—We quote present spot values for the following descriptions:—Pine mutton, 47s per cwt; good beef, 46s per cwt; mixed, 40s 9d per cwt. The market is active. NEW ZEALAND DAIRY PRODUCE. According to the Dairy Department of the Canadian Pacific Railway Company, cheese and butler from Canada are in great demand in Britain just now. New Zealand butter and cheese, which had displaced those products from Canada have seemingly slipped back, and especially with regard to the latter commodity, the land oi the ample leaf is again in first place. AMERICAN FINANCE. DECLINE IN STERLING. Press Association—By Telegraph—Copyright. NEW YORK, September 4. Sterling, during the fortnight’s general decline, reached 4.465, representing a cumulative loss of 4 cents. Bankers assert that this decline is not due to political reasons, but is the result of seasonal offerings against the export trade.—A. and N.Z. Cable. LONDON MARKETS. Press Association—By Telegraph—Copyright. LONDON, September 6: (Received September 7, at 5.5 p.m.) Cotton.—October shipment, 14.99 per lb. Rubber.—Para, 14Jd per lb; plantation, 14d; smoked, 13gd. Jfuto.—StepAember-October e)hipmcnt, £36 per ton. Hemp.—August-October shipment, £4O 10s per ton. Copra.—September-Octoher shipment, £29 15s per ton. Linseed oil, £43 per ton. Turpentine, 67s 3d per cwt. . Lambs.—Canterbury seconds. Hid per- lb; North Island seconds. Hid per lb. Frozen Beef.—Australian crops, 3§d per lb; hinds, 5Jd; Argentine hinds, s|d; chilled Argentine hinds, 7|d. Other meats are unchanged.—A. and N.Z. Cable. ~ ■ ,i . FOREIGN EXCHANGE RATES. Press Association—By Telegraph—Copyright. LONDON, September 4. The exchange rates are as follows: Par. Sep. 1. Sep. 20. Paris, fr. to £1 26.225 82.05 84.30 Brussels, fr to £1 25.225 80.23 80.50 Christiania, kr. to £1 ... 18,150 32.45 32.43 Copenhagen, kr. to £ ... 18.159 27.37 26.01 Stockholm, kr. to ft ... 18.159 16.88 IC.BI New York, dol. to £1 ... ‘ 4.8 G 4.48$ 4.46§ Montreal, dol. to £1 ... 4.86 4.48 J 4.46 Horae, lire to £1 32.22$ 101$ 101$ Yokohama, ft. to yen ... 21.5 21 15-16 22 Hongkong, et to yen ... * 28J- 28-J Calcutta, st. to rpe. 10 to gold £1 17 5-16 17$ • Determined by price of silver. The exchange rate On Berlin (par 20.15 marks to the £1) is 18| billions.—A. and N.Z. Cable. ■ BANK. OF ENGLAND RETURNS. Press Association—By Telegraph—Copyright. LONDON, September 4. Th» Bank ol England return aflords the following comparison, with th® return lor the previou Wee *" Aug. 28. Sept. 4. Coin and bullion £136,496,000 £126,597,000 Notes in circulation ... 125,372,000 125,725,00*1 Government deposits ... 17,(M2,000 10,396,000 Other deposits 105,392,000 114,897,000 Government eeourities... 40,988,000 - 43,668,000 Discounts ’and advances 76,904,000 77,481,000 Proportion of reserve to Per cent. Per cent. liabilities 18.63 17.90 Short loans • 2J 2J Three months’ bills ... 3J 3|

THE FRUIT AND PRODUCE WORLD. Reilly’s Central Produce Mart report: An excellent demand during the week for all linos of fruit and produce. Keen competition for any choice consignments of dessert apples, with high prices for coloured varieties Shipments of Australian oranges now being cleared, with indication of Higher prices ruling for next shipment. Bacon pigs are wanted. Nov/ that pastrycooks are taking supplies for preserving, prices for eggs remain firm at ts 2d per dozen for stamped. We sold;—Narcissi; White Pearl, 3d, 4d, sd; Sol de Or 4cl, sd, 6d; Trumpets, 6d, 9d, Is. Frecsias, 7d, 7Jd. Violets, Id, 2d, 3d. Tomatoes: Locals, 2s Td to 3a 4d. Pears: Winter Coles, 4Jd, sid; cooking, 3d. Apples; Delicious, 15a (id to 18s; Cleopatras, 10s to 12s; Stunners, 10s 6d, 14s 6d; Democrats, 13s 6d to 16s Cd; choice cookers, 10s; Lord Wolscley 12s. Oranges: Australian Navels, 19s. American lemons, 60s; Melbourne, 21s, 235; New Zealand, 18s, 20s. Marmalade oranges, 13a 6d. Mandarins, 21s, 245. Grapes; Australian, 10s. Grape fruit, 21s. Pineapples, 18s, 225. Bananas; Ripe, 335; Rarotongan (green), 235. Prizewinner tinned pines: Slices, 7s 3d; cubes, Bs. Choice dates: Packets, 6s. Peanuts: Choice quality, s|d. Walnuts, 7d, lid. Layer figs, Hid. Prunes, sd. Lexias, 4d lb. Seed potatoes; Up-to-Dates, 13s 6d; Arran Chief, 8s Gd; Skerry Blue, 8a Gd. Potatoes; Stirling, Outram, 8s; Oamaru, Waimates, 7s. Carrots', 60. Onions: Melbourne, 2Je. Swedes, 3d. Pie melons, 16s. Parsnips, 9s 6d cwt. Cabbages: Choice, 7a Gd, 13s. Cauliflowers: Choice, Ss, 15s. Lettuce: Choice, to 4s per dozen. Cucumbers, Gs Gd to 12a per dozen. Rhubarb, 6d to Bd. Tea: Broken Orange Pekoe, 2s Cd. Butter: Separator pats. Is 6d, Is 7d; dairy pats. Is Gd. Cheese, Bid, Beeswax, Is 6d. Preserved ginger, Is 2d. .Bacon, Is Id for choice. Hams, Is 2d. Pigs i Prime baconers, 7id, 7Jd; prime porkers, Bd, SJd; heavy-weights, to sd. Honey: Choice, 5Jd, Gd; 10lb tins, 5s 6d, 7s 6d; pats, 4a 3d; sections, choice, 10s, 13s. Eggs: Stamped, Is 2d, Is 3d; cased, la Id. Raspberry buckets, 42s Gd dozen. Fowl wheat, Gs Gd, 7s. Chick food (Palmer’s): Prices on application. Oats: A Gartons, 6s; B Gartons, 5s Gd. Prime oatsheaf chaff, £8 10s ner ton, ex truck. Crushed peas; 150’s, 16s 6d. Molasaea: 561 b tins, Gs Gd. Rice meal, £~ 10s ton; 8s cwt. Arsenate lead powder: 1031 b kegs, Is sd; 561 b kegs, la 6d. Bluestone, 35s cwt. Spreader: Cases, lOd. Black leaf “40”: 10lb tine, 595. Woodwool; Special quality, 30s bale. "Vallo-Giraffe” brend lime sulphur; Casks, Is lOd gallon. Poultry: Hens realised 4s, 4s 2d, 4s 6d, 4s fid, 4s lOd, ss, 5s 4d, 5s Gd, 5s 8d; cockerels—--5s Bd, 6s 4d, Ss 3d, 9s Bd, 11s Gd; ducks, ss; geese, 7s (all at per pair). Turkeys, Is, Is OJd, Is 2d per lb. E. OSWALD REILLY, Managing Director, Moray" Place, Dunedin.

__— GOVERNMENT SECtTEITIES, Press Association—By Telegraph—Copyright. LONDON, September 4. The following at© the latest q uotatiooe for Government securities, compared with the pricea luliag 1st* week:— last week. ' This week. £ B. 1 a. £ 8. d. Imperial consols, 1\ p.-o. .. . 57 5 0 •57 0 0 Wer loan, 5 p.c., 1923-47 .. . 101 10 0 101 10 0 War loan, 3i p.c, 1925-28 .. Conversion loan, 31 p.c. ... . 06 0 •77 5 0 0 !IS 0 0 77 5 0 C'-wealth B p.c., 1031-41 .. . 104 15 0 104 17 6 CVeaKh H p.c, 1322-27 .. . 101 10 0 101 7 6 N.Z. 6 p c, 1026-51 . 110 0 0 110 0 0 N.Z. .4 p.e., 1929 . 96 0 0 96 2 6 KZ. 3i p.c, 1040 . 83 17 6 84 0 0 N.Z. 3 p.c, 1045 . 77 0 0 •76 0 0 N.f.W. GJ p.c, 1930-40 .. . I0S 15 0 106 15 0 N.S.W. S p-c, 1930-40 . 105 0 0 105 5 0 N.S.W. 51 p-c, 1922-32 . 102 5 0 102 5 0 N S.W. 4 p.c, 1033 . 02 0 0 01 17 6 Nlfi.W. 3?. p.c, 1030-50 .. . 83 17 6 *81 17 6 N.P.W. 3* p.c, 1035 . 76 12 6 76 15 6 Victoria 5i p.c, 1930-40 .. . 103 0 0 •102 0 0 Victoria 31 p.c, 1021-26 .. . 98 7 6 98 7 6 Victoria 3A p.c, 1020-40 .. . 79 17 6 •78 10 0 Victoria 31 p.c, 1929-49 .. . 72 12 6 72 12 6 O'land 6 P-c, 1930-40 .. . 104 5 0 104 10 0 Q'iand 31 p.c, 1920 O'land 3 p.c, 1022-47 .. . 01 0 0 91 5 0 . 70 12 6 70 10 0 fi.A. 61 p.c, 1920-40 . 106 7 6 106 7 6 R \.. i\ P-c, 1934 or after 83 7 6 83 5 0 •S.A. 3 p.c, 1030 W.A. 6 p.c , 1930-JO . Rl 15 0 61 15 0 . 104 12 6 104 15 0 W.A. 3J p.c, 1020-35 .. . 86 0 0 •83 15 0 W.A. 3 p.c, 1915-35 . 82 0 0 81 15 0 Tasmania 81 p-c, 1930-40 .. . 106 17 6 106 2 6 Tasmania H p.c, 1020-40 .. . S3 5 0 83 10 0 Tasmania 3 p.o., 1920-40 .. . 76 10 0 76 10 0 •Indicates ex interest.