COMMERCIAL.

Otago Daily Times, Issue 19283, 22 September 1924, Page 6

COMMERCIAL.

Daily Times Office, Saturday morning. The sugar market appears more settled. The Navua will arrive with another shipment on about Tuesday of next week. Further supplies of Californian evaporated apricots will be landing early next week. Tho Sussex is bringing supplies of prizewinner pine apples (cubes and slices) and sago and tapioca. It is understood that there will bo no other direct boat from Singapore until January next. Eastern lines will have to be transhipped at Sydney until then. A parcel of Californian oil-bleaohed sultanas is duo to arrive at the end of next week. A hue of Brazil nuts was landed last week. Prices have increased, and merchants are now quoting Sid per lb. Preserved ginger shews a smart advance in price. The price is now Is 2£d per lb for 561 b boxes. Following on the advice received from canners that there is going to be only a 25 per cent, delivery of cohoes, the market for sockeye has firmed. The market for bulk cornflour has advanced slightly during the week. When muscatel raisins from Spain were brought recently within the scope of the Industries Preservation Act, presumably tho Federal Ministry considered that it had good reasons for taking this step (says the Australasian). If 60, merchants would like to be informed of the reasons, for in existing circumstances they hold that it was unwarranted. The Tariff Board and the Minister for Customs, perhaps, are unaware how tinders this season are placed in regard to muscatels. Owing to nnfavouable drying conditions the Australian Dried Fruits, Association tins year has been unable eo far to list this fruit. In fact, some of the fruit is still being dried, and how it will faro in the end is problematical. Leading wholesale merchants in Melbourne are loyal to the association, and they do not buy their eupplies of fruit from outside sources unless the association gives them permission to do eo. As it wa felt that mucatels would be In short supply, distributors placed orders abroad, with the knowledge of the association. Catering thus for the needs of the people may moan that their business would bo done at a loss to themselves. This will depend upon the stand which the Minister for Customs may adopt when the goods arrive, subject, of course, to a- decision whether they may bo dutiable under section 8 of the Act.

AUCKLAND FARMERS’ FREEZING COMPANY. The balance sheet of the Auckland Farmers’ Freezing Company (Ltd.) for the year ended Jnno SO shows a net profit of £14,038, but in arriving at this the accounts of the Moerewa branch are excluded. This branch shows a loss for the year of £7807, and the accumulated losses of the branch total £25,211. As the Moerewa branch has a separate share capital, certain proposals for the adjustment of the heavy debit balance of this branch are to be submitted to the shareholders concerned. Apart from this branch the amount at credit, which includes £3143 brought forward, amounts to £IB,OBI. Out of this £SOOO is added to the reserve fund, £9991 is to be distributed among “A” and “B” shareholders by way of a G per cent, dividend, and £3090 carried forward. The balance eheet figures (exclusive of the Mocrewa branch) are as follow:—Liabilities-Paid-up capital, £167,031; debentures, £66; general reserve, £90,710; reserve for equalisation of dividends, £15,000; calls paid on forfeited shares, £271; nnclaimcd dividends and interest, £383; sundry creditors, £50,321; balance at credit, £18,031; —total, £342,464. Assets—Land, buildings, and plant, £266,867; office furniture, £537; stocks and stores, £8886; New Zealand Government Bonds, £8200; bank balance, £39,126; sundry debtors, £18,791; cash in hand, £SB; —total, £342,461.

PALMERSTON STOCK SALE. The monthly stock sale was held on Saturday (writes or correspondent), when there was a good all-round yarding. Sheep were selling well, prices being high for good lines. Cows were in small demand, and prices were poor. Pigs, of which there was a large yarding, were in good demand, prices being good,

SOUTHLAND MARKET REPORT. (From Oor Own Correspondent.) INVERCARGILL, September 19. Oats. —Tho market still remains particularly firm, and small supplies have been coming in from farmers. In many instances these :.ro lota which it was at first intended to uso for chaff, but which have been threshed owing to the tempting prices offering. As much as Gs Id per bushel has I con paid to farmers 0.t., sacks extra, for A grade Gartons. This has been brought about by the great scarcity of oats fit for seed. The demand for sowing down is much in excess of the few previous years, and has virtually absorbed any unsold surpluses of A and super A grade oats held by tbo merchants. As a matter of fact, many sellers have boon at their wit’s end to get sufficient oats to cop© with the demand for seed. Chaff.—Fair-sized offerings have been made during the last 10 days, and sales of prime quality have been maintained generally at £7 per ton, 0.t.c.5., sacks supplied by buyers. Fowl Wheat.—The market so far us local is concerned is quite bare of supplies, and it is evident noticing remains in the hands of growers who could to-day receive 6s per bushel, 0.t., for any such wheat they had to dispose of. Local poultry-keepers must depend on their supplies from outside sources. Ryegrass.—Not much business has been effected during the last week or two. Inquiries, nevertheless, have been fairly frequent, but generally through brokers who are endeavouring possibly to create business. Nothing worth talking of has been offered by growers for some months, and stocks in merchants’ hands arc beginning to rapidly deplete by tho demand for sowing down in our own vicinity. A demand of any size from other parte would soon create a shortage. Merchants generally, in view of tbo certainty of a demand from Australia and tho north, look for increased prices in tho near future.

STOCK. Dining the week both cattle and sheep have been selling exceptionally well, although. cattle wont back a lit 11 o on last week’s prices owing to tho large offerings. Store sheep are eagerly sought after, especially young ewes, ewe hoggets, and good forward wethers to soil off fat out of the wool, while store cattle and dairy cows aro in poor demand. Fat Cattle.—Exceptional heavy-weight bullocks aro back at last week’s ruling price, and are selling at ,18s per 1001 b, while nice prime heavy-weight cattle are worth 39s to 40s per 1001 b; medium, 33s to 40a per lOfllb; light and unfinished, 35a to 36a; prime heifers, 30s to 32s per 1001 b; light heifers and prime cows, from 25s to ‘2Ca; 1. and u., 20s to 22a Gd per 1001 b; extra prime bullocks, up'to £2l; prime bullocks f from £l6 to £IS; medium, £l4 to £ls; lighter bullocks, £ll to £l3; prime heifers, £11; light, £6 10a to £7 10s; prime cows, up to £11; lighter cows, £4 to £5. Vealers. —Good sorts, 30s to 32a; medium, round about £l. Fat Sheep.—The market is a little bare, and in consequence wethers, arc selling very ’ well, and extra prime heavy-weight Wethers are quoted up to 50s; prime, 45s to 475; medium, 42s to 445; lighter, 39s to 41s. There are no fat ewes coming on the market at present. Store Cattle.—Owing to the continued dry weather the market has eased up a little, and good three and fonr-year-old bullocks are selling at round about £7 to £8; two and three-year-old bullocks, up to £6; and two-year-olds, £2 10s to £3 10s. Dairy Cows.—Owing to the numbers being offered, sales aro very hard to make, and best cows aro realising round about £9 to £10; medium, £3 to £4. Store Sheep.—At the time of writing it is very difficult to give an indication of what ewes and lambs are worth, all counted, but any small lines of mixed ages offering are fetching from 18s 1o £l, ail counted; good cwo hoggets, up to 355; mixed-sex hoggets, up to 325; wether hoggets, from 2Ss to 30s. Good forward well-woolled wethers aro in keen demand to hold over for shearing at from 40s to 425.

THE OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, September 20. Things have gone from bad to worse during the week from the point of view of the agricultural and grazing industries. There has been no rain, and the only moisture acquired by vegetation baa come from heavy dews, which have been experienced on many nights. That moisture, limited though it may be, has been of great service to the cereal crops, and especially wheat, which, generally epeaking, is looking remarkably well—so well, in fact, that experienced farmers eay they are shaping for good yields. But to attain that result a good rain at an early date is necessary as a preparation for tho season, of summer heat and possible winds. The dews mentioned have, however, had no effect upon pastures, and tho position on a great many of the lowland farms has reached a serious stage. Feed has gone off entirely in a great many places, and clock is suffering in consequence. This is particularly the case with cattle, which are in a great many instances being reduced to skin and bones. In at least one case the former has. been driven to slaughtering a number of his cows for their hides and to save the poor beasts from death by starvation. Sheep have not suffered so badly, and the chief cause of solicitude is as to whether tho ewes will bo able to provide milk to sustain their lambs. A good deal of handfeoding is being done, and in some instances sheep have been permitted to cat bade cereal crops. If rain does not come soon tho position will be desperate. A good rain, would, however, completely change the aspect of matters, for the soil has acquired a good warmth, and an accession of moisture would stimulate a rapid growth. The drought has affected business of all descriptions, and has had a paralysing effect upon tho stock market, sales being somewhat rare, for there are few buyers. Fat stock is in short supply, and local butchers are drawing upon the Burnside market. At the regular market sale the yarding of fat sheep was small, and a few wethers realised 435, ewes 325, and extra quality hoggets 39s 6d, but ordinary hoggets were passed in at 325. No store sheep were offered, aud breeding ewes were confind to a couple of pens. Two-tooth ewes in lamb realised 44a, and a small lot of ewes with about 120 per cent, of lambs were sold at T7a 9d (all counted). Only a couple of sales by private treaty are reported. At the outset of the week a line of aged halfbred ewes in lamb changed hands at 255, but that price could not he got to-day. Some light fat wethers wore sold at 31s. Tho cattle market is in a poor condition. In a larger yarding of cattle than has been seen of late, only a few head of fats were found. One good cow brought £8 2s 6d, other cows from £4 12s 6d to £5 2s Gd, and heifers £4 2a Gd. The rest of the yarding consisted of dairy cattle, and a poor lot they wore, largely oh account of low condition. Tho prices realised range from £6 down to £l. Sales of cattle by private treaty have been few, and tho prices were as follows: Good heavy fat bullocks, £l4 10a; medium fat bullocks, £l2 10s; good fat cows. £lO 10s; medium cows, £6; small fat heifers, £o; IS-month-old steers, 13s Gd; mixed-sex yearlings, 7b 6d to 10s; store cows, IDs to *2os; ordinary dairy cows, at profit, £4 to £5; aged cows, at profit, £1 ,to £2. As to the grain and produce market there is little to be said. Oats are in request, with the country fairly depleted of stocks. A couple of lines of good feed Gortons changed hands at 5s 6d net on trucks. Cowgraas seed has come into demand, and for the first time for many weeks sales as between growers and merchants are reported. Some producers have evidently come to the conclusion that it will b© fruitless to hold out for the prices they l\ave been seeking. A good sample of seed changed hands at Bd net delivered in Oamaru, and two fair lines ex store at 8d and 7Jd respectively, the lower price being given for a sample of good quality spoiled by tho presence of brown seeds. Some lucerne seed came on the market during the week, but no business has been done. Ohaff is freely inquired for, but no response is forthcoming from the country.

NEW SOUTH WALES WHEAT AND WOOL. ESTIMATES FOR SEASON, SYDNEY, September 30. Mr F. A. Chaffey, Minister of Agriculture, states that it is estimated that the wheat yield for the coming season will be 50,000,000 bushels, of the value of £12,000,000. The wool clip will probably be worth £22,000,000. ADELAIDE WOOL SALES, SPLENDID PRICES, ADELAIDE, September 19. At the opening wool sales of the season there was a strong demand and keen competition. Prices were from 10 to 15 per cent, above the highest of last season. Scoured sold up to GOJd, a South Australian record. Greasy, 36Jd. - -O' 11 ■ LONDON MARKETS.' The New Zealand Loan, and Mercantile Agency Company have received the following cablegram, from their London house, under date September 17■ Tallow. We quote present spot values for the following descriptions; Fine mutton, 48s per cwt; good beef, 46s 9d per cwt; mixed, 42a 3d per cwt. The market ia active. Dairy Produce. Butter; New Zealand, choicest salted, prices unchanged. The market ia steady. Cheese. —No change in the market. There ia slow demand. 49* THE PRICE OF GOLD. Press Association—By Telegraph—Copyright. LONDON, September 19. (Received September. 21, at 5.5 p.m.) Gold is quoted at £4 12s 9d per oz.—A. and N.Z. Cable, LONDON MARKETS. Press Association —By Telegraph—Copyright. LONDON, September 20. (Received September 21, at 5.5 p.m.) Cotton; October delivery, 12.76 d per lb. Rubber; Para, 14Jd; plantation, 14|d; smoked, 14Jd. Jute; September-Octobcn shipment, £36 12s 6d per ton. Hemp: September-November delivery, £ll per ton. Copra: Scptember-Octoben shipment, £29 10s per ton. Linseed oil, £*l3 10e per ton. Turpentine, 66s 3d per cwt. Cargoes arc steady. Quotations arc nominally unchanged. The demand is quiet. Parcels are in small request.—A. and N.Z. Cable. THE MEAT MARKET. Press Association —By Telegraph—Copyright. LONDON, September 20. (Received September 21, at 5.5 p.m.) Now Zealand owes, 6Jd per 11). Canterbury lamb: Light, l‘2Jd; medium, ]b. Selected; Light, 12*d ; medium, HJd. North Island: Firsts, lljd; seconds, Usd. Argentine firsts; Light, lid; medium, lOd; seconds, lOld. Frozen beef; New Zealand fores, 3j|d per lb. Argentine: Fores, 34d; hinds, s|d. Uruguay; Fores, 3id. Chilled Argentine; Fores, 3gd; hinds, 63- Chilled Uruguay: None offering. Others are unchanged.—A. and N.Z. Cable.

LONDON WOOL SALES. GOOD COMPETITION. Preca Association—By Telegraph—Copyright. LONDON, September 19. (Received September 21, at 5.5 p.m.) At the wool eales there was a -very good tone and keen general competition. Prices were very firm. The Kaiapoi clip (New Zealand) realised 39d per lb.—A. and N.Z. Cable. THE FRUIT AND PRODUCE -WORLD. Reilly's Central Produce Mart report: Business has been brisk during the week for all lines. Some nice consignments of spring vegetables to hand. A email parcel of oranges arrived by tho Moeraki, and good prices were secured fo» this shipment. Dessert applc3 are wanted. Bacon pigs are wanted. Eggs are meeting a ready sal© at preserving rates. We sold:— Narcissi, 2kl, 3d, 4d. Fl-eesias, 6d, 7d. Violets, 2d, 2Jd, Bd. Tomatoes: Locals, to 3s 2d. Pears: Winter Coles, 4Jd, 5Jd; Winter Nolis, 5d to Gd; cooking, 3d. Apples: Delicious, 18s 6d; Statesman, 12s 6d; Sturmera, lis, lis 6d; Democrats, lis, 16s 6d; choice cookers, 10s; Lord Wolseley, 12s. Oranges: Australian navels, 235, 245; Valonoiaa, 21s. American lemons, 50s; Melbourne, 235; New Zealand, 10s. Mandarins, 20s, 235. Marmalade oranges, 12s 6d. Grape fruit, to 21s. Pineapples, 225. Bananas: Ripe, 30s; Rarotonga green. 21s; Fijis. 265. Prizewinner tinned pines: Slices, 7s 9d; cubes, Bs. Choice dates: Packets, 6s; bulk, 3£d. P'eanuts: Choice quality, s&d. Walnuts, Bd, lid. Layer, figs, lljd. Prunes, sd. Lerias, 4d lb. Seed potatoes: Arran Chief, 8s 6d; Skerry Blue, 8s 6d. Potatoes: Stirling, Outram, 8s 9s; Oamarus, Waimates, 7s 6d. Carrots, 6s. Onions: Mclbournes, 225, Swedes, 3s 6d. Parsnips, 93 6d cwt. Cabbages: Choice, Bs, 12s. Cauliflowers: Choice, to 10s. Lettuce: Choice, to 6s. Cucumbers, 8s to 19s 6d. Rhubarb, 6d, 7d. New potatoes, Is 9d per lb. Tea: Broken Orange Pekoe, 2s Gd. Butter: Separator pats, Is 6d, Is 7d; dairy pats, Is 6d. Cheese, 9d, 9Jd. Beeswax, Is Gd. Preserved ginger, Is 2d. Bacon, Is Id for choice. Hams, Is 2d. Pigs: Prime baconers, 7Jd; prime porkers, 8d; heavy-weights, to 6d. Honey: Choice, 5Jd to Gd; 10lb tins, 6s 6d, 7s 6d; pats, 46 3d; sections, choice, 10s, 12e. Eggs: Stamped, Is 2d; cased, Is Id. Raspberry buckets, 42s 6d dozen. Fowl wheat, 6s 6d, 7s. Chick food (Palmers'): Prices on application. Oats: A Uartons, 6s; B Gartons, 5s 6d. Prime oatsheaf chaff, £8 10s pen ton, ex truck. Crushed peas: 150's, 16s 6d. Molasses: G6lb tins, 6s 6d. Rice meal, £7 10s ton, 8s cwt. Arsenate lead powder: 1001 b kegs, ]s sd; 561 b kegs, Is Gd. Bluestone, 35s cwt. Spreader: Cases, lOd. Black Leaf "10": 10lb tins, 595. Woodwool: Special quality, 30s bale. "ValloGiraffe" brand lime sulphur: Casks, Is lOd gallon. Poultry: Hens realised 4s Gd to 7s 6d; pullets, 4s to lis 6d; cockerels, 4s to 8s 6d; ducks, 9s 6d to lis 6d (all at per pair). TuTkeys, IOJd to Is Id per lb.

REILLY’S CENTRAL PRODUCE MART (LTD.), Moray Place, Dunedin.