COMMERCIAL.

Otago Daily Times, Issue 19301, 13 October 1924, Page 6

COMMERCIAL.

Daily Times Office, Saturday morning. The Moeraki landed a fair-sized parcel of dressed rice during tho week. A consignment of packets of Milclura currants and sultanas cam© to hand by tho Moeraki. White's jellies and Nelson's wafer-loaf sheet jollies have just arrived from London. Prices remain the same as those ruling last season. The tea market is very high, and prices are still advancing. It is rumoured that tho price of packet teas will bo increased shortly. An increase of 3s to 4s per cwt has taken place in the price of desiccated cocoanut during tho week. Australian exporters of sultanas and currants advise that stocks are getting into low compass, and that they will not be able to continue exporting for long. There has been a sharp advance in the price of preserved ginger owing, it is stated, to tho floods in China destroying tho crop. Local slocks, however, are ample for requirements. Cabled advice has been received to tho effect that there has been a very sharp increase in tho price of Cioily almonds. The market is not heavily stocked by any means, and further supplies will not arrive here before Christmas. It is understood that tho landed cost will be in the vicinity of 4a 7d per lb. WHEAT AND FLOUR.. PRICES ON LONDON MARKET. Press Association— By Telegraph—Copyright. LONDON, October 9. Owing to better American closing rates and a renewal of inquiries, cargo sellers are asking an advance of 4s, but actual trading is inactive. Tho Boston Many's and Treworra’s cargoes were sold at GGs, and an unnamed steamer’s cargo (January shipment) at 65s 4Jd. Parcels are in fair demand at from 9d to 4s up. _ The spot trade is email. No Australian is offering. Flour is firmer. Australian, ex store, 47s —A. and N.Z. Cable. LONDON METAL MARKET. Press Association—By Telegraph—Copyright. LONDON, October 9. Copper; Spot, £64 46s 3d; forward, £62 46s 3d. Lead; Spot, £34 12s 6d; forward, £33 Hs 9d. Spelter; Spot, £33 2s 6d; forward, £32 17s 6d. Tin: Spot, £241 16s; forward, £243 17s Gd. Silver; Standard, 36 l-16d to 33 10-16 d A. and N.Z. Cable.

GOLD AND SHARES. Press Association —By Telegraph—Copyright. LONDON, October 10. Fine gold is quoted at. £4 12s 5d an oz. Waihi shares arc quoted at 28s 3d (buyers), and 28s 6d (sellers).—A. and N.Z. Cable. LONDON MARKETS. Press Association —By Telegraph—Copyright. LONDON, October 11. (Received October 12, at 5.5 p.m.) Cotton: The Liverpool quotation for American upland, November delivery, is 13.82 d per lb. Rubber: Fine bard Para, IGd per lb; plantation and first latex crepe, 15’,d; smoked and ribbed sheet, 15.)d. Jute: Indian native first markets, OctoborNovcmber shipment, £3B 11s 6d a ton. New Zealand hemp: Novcmber-January shipment, £45 a ton. , Copra: South Sea bagged, Septenibor-Octo-l ber shipment, £3O Gs per ton. Linseed oil, £45 15s per ton, equal to 3s 7d per gallon. Turpentine, 63s 9d per cwt, equal to 4s 10a per gallon. Sheep; New Zealand ewes, Old; Argentine ewes, CJd. Frozen beef: New Zealand hinds, IJd; Australian hinds, 4gd; Argentine hinds, 5Jd; Uruguayan hinds, 41d; chilled Argentine fores 3XI, hinds 61d; Uruguayan fores 3f,d, hinds' 5Jd. Other moats unchanged. Oa.ts, beans, and peas are quiet and etoadiiy held. Sugar, granulated, 38s 4Jd. —A. and N.Z. Cable. Now Zealand Loan and Mercantile Agency Company has received the following cablegram from tbeir London house, under date October 8: Tallow; We quote present spot values for the following’ descriptions;—Pino mutton, 48s 9rk per cwt; good beef. 48s 3d per cwt; mixed, 43s Gd per cwt. Market active. Butter; Choicest salted, 220 sto 224 s per cwt.; Danish, 12s per cwt. lower. Cheese, 94s to 96s per cwt. Markets quiet. Messrs Dalgety and Co. report haying received the following cable from their head office, dated London, October 10: Butter market very quiet. New Zealand salted, 2205; Now /Iceland exceptional. 2245; Danish, 2305; finest Australian salted, 20Ss. Cheese market; Fair inquiry. New Zealand white, 955; coloured, 945; Canadian, 945, c.i.f. LONDON WOOL SALES. Press Association —By Telegraph—Copyright. LONDON, October 9. The wool sales were marked by th© remarkable strength of the Continental competition and the keen Yorkshire demand for crossbreds. The withdrawals were chiefly of second-hand wools, consisting largely of inferior and faulty sorts, but all good strsffeht combing wools were readily absorbed at full rates. Th© Bradford tops market continues dull with little business. Sixty-fours, 79d: sixitics, 71d; fifty-sixes, 52d; fifties, 40d; forty-sixes, sold. —A. and N.Z. Cable. Jlcssrs Dalgety and Co. report having received the following cable from their head office, dated London, October 9: Wool sales closed; fairly animated. Prices are firm for good qualities, weak for inferior. Continental buyers are the principal operators for merino; crossbred wool, good demand from Home trade. As compared with last sale’s closing rates merino combing, good greasy, higher 2Jd to 3d per lb; merino wools of other descriptions, greasy, higher IJd to 2d per lb; halfbred wools, greasy, higher 3d to 5d per lb; crossbred wools, fine quality greasy, higher 2Jd to 4d per lb; crossbred wools, medium quality greasy, higher 2d to 3.td per lb; crossbrfed wools, coarse greasy, higher XJd to 2d per lb ; merino wools, scoured, 3d to 5d per lb higher; halfbred wools, scoured, 3d to 4d per lb higher; crossbred wools, scoured, 2d to 34d per lb higher; elipe wools, 2d to 3.’,d per lb higher; lambs’ wool, greasy, 2d to 3d per lb higher. The advance in price is less pronounced for shabby and faulty wools. One hundred and ninty-aix thousand nine hundred halos offered, including 22,974 South American, BG9O Cape, 73,016 New Zealand. Home trade bought 88,000, Continent 71,000, America 1000. Carry forward 36,900. DAIRY PRODUCE MARKET. Press Association—By Telegraph—Copyright. LONDON, October 10. Butter; Danish is rather easier at 2325. Colonial is firm. New Zealand choicest salted, 220 sto 2225; exceptionally good, 2245; Australian, 204 s to 2065, unsalted, 212 a to 220 s Siberian, 160 s to 1765. Cheese: The market is firm. New Zealand coloured 945, white 955; Australian coloured, 90s to 92a.—A. and N.Z. Cable. Messrs Joseph Nathan and Co. (Wellington) report receipt of the following cablegram from their London office:—“New Zealand cheese, 94s to 955. New Zealand butter, 2225; Danish butter, 2385. Cheese market quiet; butter firm.” SOUTHLAND MARKET REPORT. (From Our Own Correspondent.) INVERCARGILL, October 11. Oats.—Tiio main thing to report about this market during the last week or so is the attempt by some of the northern buyers to induce contracts for forward delivery, for which up to 3s lOd per bushel has been offered for B grade, f.0.b., s.i. Such speculative business does not appeal to local merchants in th© meantime, as crop prospects and prices depend so much on harvest conditions locally and in other growing centres. There is virtually no demand for shipment owing doubtless to the fact that there are no sellers of oats, as the demand for seed requirements has almost absorbed all the oats in merchants’ stores.

For sowing down, growers have been forced to uso dressed B grade oats ottering from farmers which are bringing Rs for A’s and Ss Pd for D, on truths, at country stations. Such offerings aro limited to small lots of 20 to 30 bags. Chaff. —There has not been much offering during the fortnight owing in the fact that farmers have been busy with other operations on tho land. Good chaff is in demand at a trifle, over £7 per ton, on t,niche. Ryegrass.—ln this allied seed good business is being done for local sowing down. The demand from Australia and the north hag so far not been heavy, hut merchants nro not much concerned at tho lack of business, as orders are coming in so freely for sowing down that it is quite evident that there'will he little or nothing left in merchants’ hands by tho middle of December. The basis of values wholesale may bo taken as Rs Id to Rs 6d per bushel for 271 b to 281 b seed of good germination. STOCK.

Since last report the market has remained firm for all descriptions of stock, with prices on a par with those ruling at the close of last week. Fat Cattle. —A number of really good prime cattle have been sold lately at prices round about 45s per 1001 b; extra, prime heavy-weight bullocks, £25; prime bullocks, £2O; medium, £l6 to £18; light, £l4 to £ls; prime heifers, £l2; light heifers, £S to £9; prime cows, £l3; light cows, £8 to £9, down to £5. . Yealers. —Good sorts are realising np to £2; lighter, down to £l. Fat Sheep.—Very few good prime wethers in the wool arc offering, and any wethers that arc being sold are realising high prices; extra prime hsavy-weight wethers, 555; prime wethers. 51s; medium wethers, 495; light, 44s to 465. , . . Store Cattle.—The store cattle market is firmer, with a very good inquiry. Four-year-old bullocks, in good condition, £3 to £9; threo-vear-old bullocks. £G to £7; two to 2J-year-old bullocks, £4 to £4 10s; 18 months, 4*3 to £2 10s; yearlings, 255. ~ Dairy Cows.— There is a much better inquiry, and pood cows aro Gelling at £l2; other sorts, about £7 down to £3. Store Sheep.—Farmers are not inclined to sell until after shearing, and any lines that, do come on the market arc selling exceptionillv well. Aged ewes and lambs, in the wool, all counted, are selling at £1 to as; ewe hoggets, 395; mixed hoggets, - .1,9 to 38s; wether hoggets, 34s to ./ss; good forward condition wethers, 44s to 465.

OAMARU MARKETS. {From Our Own Correspondent.)

OAMATUJ, October 11. The rain which set in at the end of last week has been followed by other rams of varying amounts. Indeed, the Oamaru records "show that there has been more or loss rain on nine days this month to date The result being a total rainfall for ib© month up to yesterday morning of 1 07ir, The rains have not been equally distributed. For example, on Thursday afternoon there was a tropical downpour for a time, but it covered only n very limited area, being in the nature of a fall cutting its own track from the mountains to the eea. It fell upon a part of the town only, and varied from a sheet of water with a little hail in sonic places to a hailstorm in others. Tho recorded rainfall in the town does not by any moans represent the experience of tho country district. A few localities may have had less ruin, but others have had a great deal more, upwards of two 'inches having fallen in a number of places. Very little of these rains has been lost, for they wore not heavy enough to flow away and^ soaked in. In grasslands generally the moisture has not got down a sufficient depth to make assurance euro, and more rain is required to enable pastures to withstand the winds that come hot and strong at times. This need has been in part met by a good rain that set in steadily last night, a further 32 points being added to the town record up to 9 a.rn., while the fall seemed to have been pretty general in the country. Before noon, however, the fall had ceased, and the sun was making an effort to resume duty. An immense amount of good has, however, been done, and the appearance of tho country to-day is beautiful to look upon. There has been a complete transformation, and

much has boon done towards assuring a bountiful harvest over, unhappily, a curtailed area sown this year with cereals. Ono of the first results of the rains has been to cause a rush by fanners for seeds of fodder plants for prompt sowing. There has been a most exceptional demand for mangold seed with a big decline in swedes and turnips. Kapo has been in request, and many orders have been given for grass seeds of various kinds.

The improved outlook in respect to fend has induced some farmers wlio held oats and chaff in reserve for feeding' their stock in the event of a prolonged drought to put them on the market. This has awakened a sleeping market, but there has not been, and cannot be, any real activity, for these treasured reserves were few in number.

The market received a surprise packet during the week in the form of 300 sacks of wheat, which found a ready buyer at very full milling rates. Several lines of A grade Garton oats have met wdth ready acceptance at 5s 8d and 3s Od, net to growers, delivered in Oamaru, and 5s 7d, net on trucks. There has been a good turnover in cowgrass seed, which has hung fire for a long time, mainly because growers looked for impossible prices. They have now seemingly modified their ideas, and merchants have become more ready buyers. Only good clean and bright seed, however, is being taken, and for this lOd and IOJd net, has been given at country stations. Poorer quality seed, of which there is a fair quantity about, is utterly neglected. Some business has been done in oatonshoaf chaff at country stations at £7 15s, lees commission, but the present value is a little higher for good quality. THE STOCK MARKET.

The stock market lias not received any impulse from the improved feed outlook, for no demand has yet arisen, except for fat a lode, which is in such short supply that local butchers have been compelled to fill their requirements in both sheep and cattle at the Burnside sale. Sheep, outside fat animals, are almost neglected. At the restored weekly sale, which had a small yarding generally outside of pigs, and was not well attended by buyers, a. pen of aged ewes, witli lambs, failed to reach the vendor’s reserve, and were passed in. Ew© hoggets, which are, in favour, brought 365, and some of the wether hoggets found a buyer at 30s, but the remainder were passed in. The Duntroon sale, which followed, was a complete fiasco, not a single sal© being effected from out a modest yarding. Transactions by private treaty in sheep has been confined to a few lots of butchers’ animals. These have realised enhanced prices, good fat wethers bringing from 45s to 50s, and fair quality ewes 41s 6d. The speculative buying of lambs for forward delivery is being continued, and a considerable number have changed hands at prices ranging from 22s to 23a 6d, while 21s was given for an exceptional lot. There has been a shade more business doing in cattle without any improvement in prices for stores. The sales cover the ■following Two good medium-weight fat bullariks, £18; good ■ thrco-ycar-old store steers, in forward condition, £6; mixed two-year-old steers and in thin condition, 23s to 30a; yearling steers, 15a to 20s. An improved inquiry is being experienced for dairying stock, ' but prices have not been affected, and are still low. A lino of well-grown and good-conditioned threc-yoar-old heifers coming to profit changed hands at £4 per head and £2 10s per head was all that a line of good two-year-old heifers coming to profit realised.

PROPERTY SALES. Messrs John Reid and Son offered at auction on Saturday 34 Dunedin City Corporation residential and agricultural leasehold, all of which were sold to the present tenants at the upset rentals. THE FRUIT AND PRODUCE WORLD. Reilly’s General Produce Mart report: Full supplies of vegetables now coming to hand and meeting a good demand. Australian oranges by the Moeraki realised high prices. New Zealand apples are practically off the market. Our Canadians arrive about tho 16th inst. Large consignments of eggs coming to hand, and being bought Up for preserving. We sold; Narcissi, 4d to Bd. Tomatoes: Locals, 3s 3d; Rarotongan, Is. Green peas, Is Is 3d. Rhubarb, IJd, 2d. New potatoes: Locals, to Is; Pukekohe, 3d to 2Jd. Asparagus, 9s to 12s dozen. Pears;' Winter Coles, 4id to sd; Winter Nelis, 5d to s ld. Apples: Statesman, 12s 6d; Sturmers, 13s to IGs; Democrats, 14s, 16s 6d; choice cookers, 11s Cd; Lord Wolseley, 13s 6d; Rokewoods, 13s, 15s. Oranges: Australian navels, 265, 30s; Valencias, 21s, 26s ; Tahitis, 225; marmalade, 13s. Lemons; Melbourne, 225. Mandarine, 21s. Grape fruit, 18s, 22a. Pineapples, 235. Bananas; Ripe, 30s; Rarotonga (green), 255; Fijis, 28s 6d. Prizewinner tinned pines: Slices, 7s 9d; cubes, Bs. Choice dates; Packets, 6s; hulk, 3id. Peanuts: Choice quality, old. Walnuts, Sd, lid. Layer figs, Hid. Prunes, sd. Le:das, 4d lb. Seed potatoes: Sutton’s Abundance, Gs 6d; Arran Chief, 8s 6d; Early Puritan, 8a 6d. Potatoes; Stirling, Outram, Bs, 8s 6d; Oamarus, Waimatcs, 7s Cd. Carrots, 6s. Onions; Melbournes, 225. Swedes, 3s 6d. Parsnips, 9s 6d cwt. Cabbages, ss, 8s 6d. Cauliflowers: Choice, to 10s. Lettuce:' Choice, to 4s 6d. Cucumbers, 14s, 21s dozen. Tea; Broken Orange Pekoe, 2s 6d. Butter: Separator pats, Is 7d, Is 8d; dairy pats, Is 6d. Cheese, 9d, 9Jd. Beeswax, Is 6d. Preserved ginger, la 2d. Bacon, Is Id for choice. Hams, Is 2d. Pigs: Prime baconers, 7Jd, 8d; prime porkers, Bd, Sid; heavy-weights, to Cd. Honey; Choice, sid, 6d lb; 10lb tins, 6s 6d, 7s; Jib pats, 4s; sections, choice, 10s, 12s. Eggs: Stamped, Is 2d; cased, Is Id. Raspberry buckets, 42a 6:1 dozen. Strawberry crates, 6s, Strawberry pottles, 655. Champion egg crates (21 dozen), 18s 6d. Fowl wheat, 7s. Palmers' chickfood; Prices on application. Oats; A Gartons, 6s ; B Gartons, 5s 6d. Prime oatssheaf chaff, £8 15s to £9 per ton, ex truck. Molasses; £6lb tins, 6s 6d. Rice meal, £7 10s ton; 8s cwt. Spreader: Cases, lOd. Black Leaf “40”: 101 b tins, 58s. “Vallo-Giraffe” brand lime sulphur; Casks, Is lOd gallon. Woodwool: Special quality, 30s bale. Poultry: Hens realised 5s 4d to 6s 8d; Pullets, 6s 2d to Gs 6d; cockerels, 4s 2d to 7s 3d; ducka, 5a 4d to 8s 6d; chickens, 6d (all at per pail}. One hen and 12 chicks realised 10s. Turkeys realised la Oid per lb. REILLY’S CENTRAL PRODUCE MART (LTD.), Moray Place, Dunedin.

REGISTRATION OP COMPANY. Notification of the registration of the following company appears in the Gazette^. J. Scott and Co. (Ltd.). Registered ifS a private company October 3, 1924. Office; Dunedin. Capital; £SOOO into 5000 shares of £1 each. Subscribers: Dunedin— George Scott 4999, Ethel Scott 1. Objects: To carry on in Dunedin and elsewhere in the dominion of Now Zealand all or any of the businesses of indent agents, importers, and wholesale and retail dealers in timber of all kinds and general incidental.