COMMERCIAL.

Otago Daily Times, Issue 19276, 13 September 1924, Page 8

COMMERCIAL.

Daily Times Office, Friday evening. Wheat growers in the Mallee and Wimmera districts, have shown recently no little uneasiness in regard to the crops because of the absence of rain (says the Australasian). Showers in the Wimmera assisted to restore confidence, hut the farmers were inclined to give way to pessimism. In th© Mallee there was justification for anxiety, for while other parts of the State had participated in downpours, weather conditions in that district had remained dry. The splendid rains which have now fallen over the State have put a totally different complexion upon wheat crop prospects. The falls could not have been more timely. News from South Australia has been more satisfactory. Practically the whole of the wheat areas have received generous moisture. Good news has been received from the Riverina. It was largely in the Mallee, the Wammera, the north of Victoria, and the Murray Valiev districts of South .Australia that rains w-es*. most needed. These districts have all benefit'd, and after a. period of doubt and anxiety the position has changed to on© of promise. Average showers during September should enable favourable crop prospects to be maintained. If nothing should be amiss during th© critical month of October, a satisfactory yield of wheat in Victoria may be looked for. Reports of the Russian crops received in England at about the middle of July 'state that hot, dry weather throughout the Ukraine had resulted in considerable deterioration of the plants in some parts, but according to the official view the yield over the greater portion of that important region was likely to bo fair. In the central and southern Volga districts it was considered that a poor harvest was inevitable, and famine was threatened ever a wide area. Drought conditions had obtained in Siberia, where hitherto the spring wheal crop had been doing well. The Soviet authorities predicted a grain surplus next year of 3,000,000 tons, or about half of that obtained from last harvest. On th© other band, an eminent Russian professor, writing in The Times, expressed the opinion that relief supplies must he imported into Russia if famine is to he averted. Favourable crop news from Canada is playing a part in th© world’s wheat markets. A private estimate has placed the Canadian wheat yield this season at 370,000,000 bushels, but whether the forecast is of United States or Canadian origin is not disclosed. This estimate contrasts with the official forecast of 282,000,00 bushals issneda fow weeks ago. The increase of nearly 90,000,000 bushels thus shown suggests that either the Canadian bureau estimate was low or that the unofficial figure is high. A gain of this magnitude would largely altar th© complexion of the world’s wheat position for 1925, and would mean that the deficiency of the North American crop would be reduced from 164,000,000 bushels to less than 80,000,000 bushels. The directors of the Victorian Wheatgrowers’ Corporation (Ltd.) announce that financial arrangements have been completed Cor tho payment of a third advance of 4d a bushel net on wheat certificated of tho voluntary pool of the season 1923-24. Payment of this advance will be made on and after September 9. The amount involved in tho distribution of this advance exceeds £300,000. This further payment, together with previous advances, makes a total payment of 4s Id a bushel, less rail freight, and. a total disbursement of about £3,657,000 among the wheatgrowers who have supported the voluntary wheat pool this season. It is expected by the corporation that it will be possible to make the final distribution by the end of October. LOCAL MARKETS. Reports from the North Island state that plentiful supplies of Australian wheat are now available for fowl food, and that further deliveries aro expected later in tho month. The Government has advanced the price of Australian wheat to be used as fowl food from 6s to 6s 2d, ex wharf, sacks included. This price prevents any business being done from the South Island. There is some fowl wheat in Canterbury for sale, but merchants there will not accept any offer under 6s, f.0.b., sacks extra. So far as tho Dunedin market is concerned there is very little fowl wheat available, and it is expected that local merchants will be able to secure supplies of Australian on the arrival of the next steamer on the same basis as the Government is selling tho wheat in the North Island. Seed wheat is still going out to the conntry, but in small quantities only. Apparently most of the farmers have now sown their acreages for tho season, Dunedin millers' prices are as follow: Flour, 2091 b, £ls 10s per ton; 100’s, £l6 10s; 50’s, £l7 2s 6d; 25’s, £l7 10s. Bran, £6 per ton. Pollard, £7. Oatmeal: 25’s, £3O; 20O’s, £29. In tho absence of any inquiries for New Zealand grown oats for shipment to the North Island the market has weakened. The ouly inquiry is for seed lines, and the demand for these is not now so strong. There is not much difficulty in securing supplies, except of special lines, such as Black Tartars, Duns, etc. Feeders are working on stocks of Canadian oats. These are offering at 5s 9d per bushel, sacks included, ex store. PRODUCE REPORT. Tho chaff market remains unchanged at £8 £s to £8 10s pen ton, sacks extra, ex truck. Consignments are on the light side, but on the other hand, feeders are holding fairly heavy stocks, and the result is that sales are difficult to effect. Reports from the north state that the prices in Blenheim are advancing owing to the small stocks held. North Island consumers are however, not interested, as they can still import chaff from Tasmania at a landed price considerably under that of Blenheim merchants. The potato market is quiet. Best quality is selling to-day at £7 per ton, sacks included, ex truck. Retailers are carrying good stocks, and it is now difficult to make sales. Odd consignments continue to arrive from the local outlying districts and also ■from Canterbury. At the present time there is quit© sufficient potatoes to meet the demand. The markets for grass seeds show a firming tendency, especially as regards white clover, crested dogstail, and cowgrass. ’White cloven and crested dogstail are now being exported to England, where seed is required consequent on the poor harvesting returns there. Ryegrass is also firmer and sales have been made to Australia. Stocks of ryegrass afe on the light side. Current local wholesale prices are as follow: — Ohaff. —Good quality £8 5s to £3 10s, ex truck. Potatoes, £5 15s to £7. Dairy Butter. —Beet milled, bulk, Is 6d per lb; separator pats, Is 6d. Eggs.—Stamped, Is 2d; case, Is Id. Bacon.—Rolls, to Is 2d per lb; aides, Is Id. Hama, Is 2d per lb; boneless. Is 3d. Onions.—Melbournes, up to 22s per cwt. FRUIT REPORT. The Wingatui is bringing a limited consignment only o 1 Fiji fruit. The vessel will not arrive in time for the. fruit to be auctioned to-morrow (Saturday), and it will therefore be marketed on Monday. Kumeras, cucumlors, and lemons will also bo landed from the Wingatui. Supplies of apples aro getting into small compass, and the market continues firm. Some fairly good lines of pears arrived from Canterbury cool stores and met a ready sale. Supplies of navels and oranges arrived by the Canadian Constructor from Adelaide, via Bluff. The prices showed an increase on those brought by the Moeraki on her last trip here, but they are still below prices which will pay the Australian consignors. The next lot coming forward will be by the Moeraki, due about September 18. Heavy supplies of cauliflowers axe oom-

ing forward. Prices were well maintained till the latter part of the week, when they fell considerably. They may, however, still bo considered satisfactory. Sound-hearted cabbages continue in short supply. Lettuces, spring onions, and radishes meet a steady demand. Supplies of rhubarb are now coming forward. Prices rule round about 10s per dozen lib bunches. The following are the latest wholesale prices: Apples.—Stunners, best, 10s to 12s 6d; cookers, 8s 6d to 10s; Lord Wolseley, 12s 6:1. Pears.—Half-case, Duchess, 5s 3d; Winter Nelis, 8s Gd to 9a. Oranges.—Adelaide, 18s to 20s; Navels, 21s; Island, 15s to 17s. Lemons. —Auckland cured, 12s to 16s; Adelaide, 23s to 255. Mandarins, 24s to 335. Passions, 16s to 245. Spinach, to 3s per bundle. Leeks, 4d to 6d per bundle. Radish, to le per dozen bunches. Celery, 6d to 9d per bundle of six sticks; small, 4d. Spring onions, 3d to 4d per bundle of six bunches. Parsnips, Is per dozen bunches; sacks, 8s to 9s per cwt. Carrots, 9d to Is per dozen bunches; 5s Gd to 7s per.cwt. Cabbages.—Choice, to 12s per sack; loose, to 6s per dozen; savoys, large, 9s 6d per dozen, small, 4s to 4s 6d per dozen. Cauliflowers.—Choice. to 10s per sack, medium, to 7s 6d; small and inferior, 4s to ss; loose, prime, 8s to 10s per dozen; medium, Gs; small, 4s. Beetroot, Is to Is 6d per dozen. Lettuce.—Choice, to 17s Gd per case; medium, to 10s; small, 2s to 5s per case. Swedes, is to 2s 6d per case. HANDLING OP NEW ZEALAND MEAT. The following are extracts from a letter received by the New Zealand Meat Producers’ Board from its chairman, Mr David Jones, who Is at present in London; —“I find the. general opinion amongst the men who are handling our meat is that it is arriving on the market in much hotter condition than previously. There is no doubt that the work that has been done, at New Zealand ports, together with the inspection that is carried on in London, has assisted materially in putting our meat on the market in much better condition. Our. meat in Great Britain has a wonderfully good name. I have never eoen Australian and Argentine meat advertised as such in the shops, but there are few butchers’ windows that are not advertising New Zealand and Canterbury lamb. The supplies of meat on the market, have been well regulated; things could not Lave been better arranged. The agents who are doing a commission trad© consider that the regulation of supplies on the London market is a very great factor in keeping a steady range of prices.”

LONDON MARKETS. Press Association —By Telegraph—Copyright. LONDON, September 11. (Received September 12, at 8.30 p.m.) The price of gold is £1 12s lOd per oz. The lead imports were 25,276 tons, including 5559 of Australian. The exports were 1982 tons. Wheat cargoes are firm owing to the dry spell in the Argentine and the reduced Canadian estimate. January shipment, 57s 3d to 57s Gd. Parcels are firm at an increase of Gd to 9d. December-Januany shipment, 55s 6d to 55s 7Jd. The spot trade is fairly active and quotations are higher all round. Australian (ex ship) 59s 6d. Flour is firm. Australian (ex store), 43s 6d. Oats are hardening. Peas are steady and beans are quietly firm. Sugar (granulated), 41s 4Jd. At the hides sales there was good demand. Prices for Australian were unchanged. For butter the demand is slow. New Zealand choicest salted, 205 sto 2065; Australian, 194 s to 200 s; Siberian (weak), 156 s to 170 s; Danish, 2125. Cheese is quiet. New Zealand coloured, 925, white 945. The Bnadford tops market is strong and all qualities are firmly held, but business is small. Sixty-fours, 78d; sixties, 70d; fiftysixes, 50Jd ; fifties, 37d ; forty-sixes, 29Jd. Copper; Spot, £63 2s Gd; forward, £64 3a 9d Lead; Spot, £33 6s 3d; forward, £32 7s 9d. Spelter: Spot, £33 2s 6d; forward, £32 18s 9d. Tin: Spot, £252 10s; forward, £254 2s 6d. Silver: Standard, 24 15-16 d; fine, 37 11-lGd per oz. —A. and N.Z. Cable. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) are in receipt of the following cablegram from their London office: Butter, 206 s to 2035. Cheese, 91s, coloured 93s to 9is. Frozen mutton: There is a better demand. The market is firm, duo to small supplies available. Tallow: There is a good demand. Prices aae advancing steadily. Messrs Dalgcty and Co. report having received the following cablegram from their head office, dated London, September 11; The butter market is dull. New Zealand salted, 2065; New Zealand exceptional, 210 s; Danish, 210»; finest Australian salted, 200 s. The cheese market is quiet but steady. New Zealand white 935, colour, 91s; Canadian, 90s, c.i.f. Messrs Dalgcty and Co. (Ltd.) report having received the following wine from their head office, London, dated September 13: New Zealand prime crossbred lamb; Canterbury—heavy lljd; North Island —heavy Hid, light 12d. New Zealand lamb; The demand is less. New Zealand prime crossbred mutton: Canterbury—heavy 7gd, light B£d; North Island —heavy 7i-d, light BJd. New Zealand mutton; The demand has been checked by increased prices asked. New Zealand lamb; Any change in prices is in favour of buyers, though prices are nominally unchanged it is very difficult to sell at rates quoted. Australian good average quality cnossbred lamb —light BJd. Australian lamb: The demand is good.

LONDON SHEEPSKIN SALES. Messrs Murray, Roberts, and Co. (Ltd.) are in receipt of a cablegram from their London agente, dated September 11, reading as under: Sheepskins: Merino and fine crossbred advanced 71 per cent.; others 5 per cent. COMPANIES REGISTERED. The registration of the following companies is reported in the Mercantile Gazette : George Clark (Ltd.). Registered as a private company August 22, 1924. Office: Dunedin. Capital, £SOOO, into 5000 shares at £1 each. Subscribers: Dunedin, Geo. Clark 4600, J. D. Clark 400. Objects: To acquire and take over as a going concern the business of a builder now carried on by George Clark, and to carry on all or any of the businesses of builders and contractors, decorators, merchants, dealers in stone, sand, lime, bricks, timber, hardware, and other building requisites. Northope Co-op. Dairy Factory Co. (Ltd.). Registered September 1, 1924. Office, Winton, Southland. Capital, £IOOO, in 4000 shares of £1 each. Subscribers: Lochiel— M. M'Kenzie, J. M. Marshall, M. Maloney, J. Kerr, J. T. Hubber, D. Drain, A. J. Miles. Objects, dairy factory. Dominion Electrical Engineering Co. (Ltd.). Registered as a private company September 3, 1924. Office, Invercargill. Capital, £6OOO, in 6900 shares of £1 each. Subscribers; Invercargill—R. L. Printz 5900, A. Y. Printz 100. Objects: Electricians and electrical engineers. Rice Brothers (Ltd.). Registered as a private company September 4, 1924. Office, Invercargill. Capital, £3OOO, in 3000 shares of £1 each. Subscribers: Invercargill—O. Rico 750, C. L. Rice 750, P. Rice 750, F. O. Rice 750. Objects; Manufacturing confectioners. Paparoa Coal Co. (Ltd.). Registered September 4, 1924. Office: At office of H. D. Vickery, accountant, Featherston street, Wellington. Capital, £63,820, into 63,820 shares of £1 each. .Subscribers: W. Ferguson, W. Watson, H. D. Vickery, J. B. Haroourt, J. Williamson, C. P. Knight, W. Barton, C. J. Haroourt, T. S. Weston, one share each. Objects: To carry on in New Zealand and elsewhere the trades or business of colliery and mine owners and general incidental.

CLYDESDALE COLT FABRICANA. The New Zealand Loan and Mercantile Agency Company report having sold, on account of Messrs Mitchell and O’Brien, to Messrs C. and J. Nicoleon, of Hampden, the high-class Clydesdale coll Fabricana, bred by Messrs Thomson and Co. at their Waioongoa. Stud, and foaled on December 5, 1920. His sire, Dunure Fabric, imported from Scotland by Mr John Shearer, of Ashburton, was sired by Dupure Footprint. Fabricana's dam was Brilliant 111, the winner of 36 first and championship prizes in the principal shows of New Zealand. She was aired by Newton Chief, one of the best breeding horses ever imported from Scotland. The second dam was tho celebrated Baron’s Brilliant, also imported from Scotland, and the winner of not fewer than 114 first and championship prizes in the principal show of Scotland and New Zealand. Her side was tho well-known horse Baron's Pride. Last year, as a three-year-old, Fabricana won the first prize at Waimate, first at Oamaru, and first and championship at Palmerston.

MELBOURNE MARKETS. Press Association —By Telegraph—Copyright. MELBOURNE, September 12. Oats, 3e to 3a 3d. Earley: English, 4s 3d to 4s 6d; Cape, 3s 6d to 3s lOd. Potatoes, £1 15s to £2 10s, Onions, £l4 10e to £l4 16s,

CANTERBURY MARKETS. (Feb United Pbess Association.) CHRISTCHURCH, September 12. The dullness in the markets, continues. Even potatoes for the time being are moving very slowly. .Nevertheless, theno is a feeling in some quarters that a hardening in the course of a fortnight or so is quite probab.e. It is undoubted that the yield this season lias been light on account of the dry season. Sales for northern coastal ports, per the Corinnu, Flora, and Opihi, have been made at’ up to £5 10s, f.0.b., s.i., and October quotations arc at £5 ss. The Wanaka the other day took a veiy small consignment of 800 sacks for Auckland, and the Wingatm is due to leave early next week. Farmers at the moment are being offered at up to £4 ss, in trucks, for whites. Oats occasioned a slight interest during the week. Chaff is keeping firm. . Cowgraas has been the most active of the seed lines, and good samples are worth up to 9d a lb to farmers. Partridge peas have also brightened, and 7s per bushel, f.0.b., s.i., has been paid. Linseed has been sold in several cases at £l9 10s to £2O per ton, f.0.b., s.i., the market having improved.

Fraser and Co., agents for the Otago Egg Circle, 14G Crawford street, Dunedin, report; pats. Figs; There is a good demand for shipment. The local market is steady at la 2d for stamped and Is Id for case. Butter; Market firm at Is 5d for bulk and Is 5d for pate. Pigs; There is a good demand for prime baconera and porkers at 7Jd to 8d; over-weights, 3d to 5d per lb. Tallow: Market steady, from 19s to 235, according to quality. Honey: Prime bulk, 5Jd per lb. Beeswax: Sales are slow at Is 6d per lb. Potatoes; Northern, £7 10a; Taieri, £7 15s. Onions: Melboumes, 20s per cwt. Carrots, £0 10s per ton. We are agents for the Jubilee and Utility incubators—prices on application. And sole agents for Parearo meatmen!. We stock "Star P” chick food, lucerne meal, poultry meal, oats, bran, pollard, wheat. Pice meal, £8 per ton of 20001 b. Champion egg crates, 18s 6d. Leg rings, Is per dozen ; special quotes for quantities. Poultry: We held our weekly auction sale on Wednesday at 1.30 p.m. There is a good demand for all classes, especially good young cockerels and turkeys. Wo sold as under: Hens —30 at Is lOd, 150 at 4s, 60 at 4s 2d, 7 at 4s 4d, 2S at 5s 6d, 17 at 6s. Ducks, from 6s to 10s. Cockerels —4 at 6a Bd, 3 at 8s 4d, 1 at Bs, 1 at 10s, 5 at 12s 10d (all at per pair). Turkeys: Hens Is and gobblers Is 2Jd per lb (live weight). Consignors please note, that pigs and poultry must arrive not later than Wednesday morning of each week. New potatoes were sold in the Co-operative Fruitgrowers of Otago’s auction rooms yesterday morning at 2s 2d per lb.