COMMERCIAL.

Otago Daily Times, Issue 19530, 13 July 1925, Page 6

COMMERCIAL.

Daily Times Office, Saturday morning. On the arrival of the Katoa with the first consignment of sugar at the reduced price local prices were adjusted to meet the reduction. These prices have now been issued. Oatienuts, 251 b bags, are now available. M'Leod's soap extract has been advanced in price. Icing and castor sugar has been reduced in price. Evaporated peaches are in short supply and prices are firm. Ceremilk, 25’s and 50's, shows an increase in price. Locally manufactured rolled oats have been reduced Is per dozen bags, in sympathy with the reduction of £1 per ton in the price of oatmeal. Chinese walnuts have advanced in price. The market is firm and supplies are limited. When further supplies will bo forward is uncertain, as the trouble in China must have an effect on the exportation of all goods. Hawaiian pines show a reduction in price. Supplies of Brooke’s cooffe essence are now available. Now that the Canadian Parliament has ratified the tariff proposals in respect to trade between Canada and Australia, consumers here (says the Australasian of July 4) may hope to obtain salmon at prices a little cheaper than those that have prevailed hitherto. If Canada desires to obtain a portion of the trade in salmon that has been going to the United States, the preferential treatment should largely assist her to do so The United States will, no doubt, not submit to this without fighting. Merchants contend that Canada will not derive much benefit from the arrangement this season, because of the shortage of supplies of Canadian medium-red or Ooboe fish, which is the principal grade of salmon used in Australia. Some leading packers submitted their quotations to importers hero about the end of May, and, in less than a week, withdrew from the market because of their inability to offer further supplies in view of the heavy British and European demands. Opening prices for United States Cohoes were about 5a a case less than those for Canadian, and orders went freely to the United States from the commonwealth. Victoria imports a fair quantity of pinks from Canada, and the perferenco ultimately should be of advantage to the householder. Last week merchants said that, if the treaty wero agreed to by Canada, distributing prices for new-pack Canadian fish to arrive in November-Uecomber would bo reduced —lib tins by about Is Cd, and Jib tins about 9d a dozen. SOUTHLAND MARKET REPORT. (From Ode Own Correspondent.) INVERCARGILL, July 11. STOCK. The stock market remains firm, and prices for all classes have advanced considerably on last week’s closing rates. This especially applies to fat cattle, which have advanced fully from £2 to £3 per head. Fat Cattle.—Extra heavy prime bullocks, £ls to £2O; medium, £l2 10a to £l6; lighter, £lO to £l3 15a; prime heifers, £9 10s to £l4; medium, £5 10s to £10; heavy cow, £8 to £l2 10s; lighter, down to £6 10s; vealers, 80s to £3. Prime ox beef, 38s to 43s per 1001 b; prime heifer, to 375; cow, to 275. Fat Sheep.—Prime heavy wethers, 44s to 48a; extra heavy, to 545; medium, 41s to 43e; lighter, 38s 6d to 40s; prime ewes, 30a to 355; lighter, 26a to 28s. Store Sheep.—Not very much business is being done in this class, but prices are firm, and any lines offering meet with ready sale. Mixed-sex lambs, to 30s: wether do, 26s to 28s; owe lambs, 33a to 36a 6d ; aged ewes, £1 to 255; failing-mouth do, to 30s; forward two and four-tooth wethers, 36s 6d to 38s 6d. Store Cattle. —Forward three and four-year bullocks, £lO to £l2; three-year do, £7 10s to £9 10a; two-year do, £4 10s to £6. Dairy cows at profit are making from £G 10a to £9 10s GRAIN REPORT. Oats.—There has been little movement for some time, due no doubt, to the fact that forward sellers have been using every effort to beat down holders in their ideas of value. This baa had no effect whatever locally, as merchants generally are decidedly firm and rather of the opinion that prices will go higher. Southland stocks are undoubtedly in small compass, and the disastrous fire in the early hours of the morning in Messrs Wright, Stephenson, and Co.’s store will materially reduce stocks which are already abnormally lew for this time of the year. Virtually nothing is being offered by growers, though occasionally small lots of 50 bags or thereabouts are still finding their way into town. Current quotations are 4s 9d for super A’s and 4s 4fcd for B’s. Chaff.—Offerings by growers are at present rather in excess of the demand, but nevertheless the price is maintained at its old level of £5 per ton, on trucks, at , country stations, for really prime quality. Light or inferior lines are hardly saleable at any price. Ryegrass.—Merchants’ stocks are being steadily reduced, and during the week a few lines have been «old to the North Island, ft is anticipated that there will be a -fairly strong demand from northern centres with the advent of spring. Current quotations are 5s 9d for 271 b to 28lb seed, and up to 8s 3d for 311 b to 321 b seed. Virtually the whole of the seed is in merchants’ hands, as only rarely now is anything offered by a growers, and then something, which in the earlier states, has been passed over by merchants owing to rather inferior quality of the line offered. THE OAMARU MARKETS. (From Cd® Own Correspondent.) OAMARU, July 11. After the week’s rain we had two or three days’ fine weather, with just a foretaste of spring about it. Then, there was another break, with further rain, but this lasted less than a couple of days, and resulted in an addition of from a quarter to half an inch to the accumulated moisture. Since then the weather has been cold, with a recurrence of frosts, and we are reminded the winter is still with us. Altogether, the weather has been to the liking of farmers, who are encouraged to look forward to a prosperous season —something much mere pleasant than the experience of the past two or three years. Of course, there has been little in the way of growth of grass, but that will come presently. In the meantime feed is generally available to carry stock safely into the spring, and, indeed, some farmers have begun to stock up with sheep. The catch crops of grain sown for feed have done well, and there is a possi-

bihty of some sowings of Algerian outs put in for that purpose being carried forward for . grain or chaff, which should, in that case, bo available very early in the season. The autumn and winter wheat crops arc moving forward very nicely, and with the accretion of moisture they should make good progress when warmer weather prevails. There are indications of a fairly good area of oats being got in, preparations having been made for sowing as soon as the conditions' are favourable. There will also be a good area laid down in pastures, the extent of land ploughed having been the largest seen for several years. Business in the grain and produce market has been very slow, and it could not well l.c otherwise, for there is very little of anything left in the country to market. It is known that there are still some holders of wheat, probably a dozen or so. Some of this wheat was expected on the market this week, but the conditions have not been favourable for its delivery. Probably some will bo offered in the coming week, but there are a few holders who look for a better price than is at present obtainable. Scarcely any oats have been seen on the market, and the only sale reported was one of a modest line of B grade Gartons, which found a buyer at 3s 4d net at a country station. A little business has been done in cowgrass seed at IOJd net at country sidings, but some holders are still looking.for something better than current rates. A line of fair average quality chaff was taken at a country station at £4, reducible to. seller by brokerage. Several transactions in table potatoes are reported, the prices being from £4 10s to £4 15s for Up-to-Dates and £4 12s Gd for fair average quality whites. The stock market is still experiencing a restful time, though some disposition has been shown by farmers to acquire ewes in lamb, which are commanding good prices; but it seems doubtful if there are many sellers of sheep. At this week’s market sale there was not a single occupant of the pens. Some sales have, however, been mode by private treaty, and the range of prices has been as follows:—Mixed two, four, six. and eight-tooth ewes, 40s; sound-mouthed owes, two lines of good quality, 40s; ewe hoggets, 31s; mixed-sex hoggets, 255; ordinary fat wethers, 375; fat hoggets, _4os. The weather has not favoured business in cattle generally, and sales have been few and numerically of no particular moment. The yarding at the weekly sale was very small. Eight head of fat cattle were offered, and fair-weight steers realised £0 15s. and lighter steers £7; while the best of the cows sold at £5 12s 6d, and poorer sorts at £2. Some dairy cows just at profit brought frotji £5 to £7 10s, while other cows went at anything from £4 downwards. Sales of cattle by private treaty have been mainly in dairy stock, the prices being as follows; Cows of good quality, just at profit, £8 to £9; other cows, at profit, £6 to £7; cows to calve in the soring, £3 10s to £3; heifers, spring calvers, £i 10s. The only stores dealt with have been cows at from 20s to 30s, and calves at from Tss to 20s. DAIRY PRODUCE. Messrs Nimmo and Blair (Ltd.) have leceived the following cablegram from their London agent, dated July 10:—Cheese, 10Gs per cwt; market quiet. Butter, 18Gs per cwt; market dull. THE PRICE OF BUTTER. INCREASE IN SYDNEY. Pr*»« Association— By Telegraph—Copyright, SYDNEY, July 12. (Received July 12, at 5.5 p.rn.) The retail price of butter will bo increased by Jd per lb on Monday, bringing it up to Is lOd. LONDON MARKETS. Press Association—By Telegraph—Copyright. LONDON, July 11. (Received July 12, at 5.5 p.m.) Cotton: August shipment, 12.95 d. Rubber: Para, 41d; plantation, 48Jd; smoked, 48Jd to 49Jd. Jute: July shipment, £47; August shipment, £l4 ss. Hemp: July-August shipment, £4O 10s. Copra; June-July shipment £23 7s Gd. Linseed oil £4l 15a per ton. Turpentine GGs 3d per cwt. Antimony: English £B4 10s to £BS; foreign £6l. —A. and N.Z. Cable. THE MEAT MARKET. Press Association—By Telegraph—Copyright. LONDON, July 11. (Received July 12, at 5.5 p.m.) Sheep : North Island selected mediums and heavies, 7d; North Island mediums and heavies, 6Jd; ewes, 53d; Argentine ewes, 5Jd. Lambs: Canterbury mediums, 10Jd; North Island seconds, HJd. Frozen beef; Australian hinds, 5Jd; Argentine fores, 3Jd; hinds, Gd; Uruguay fores,, 3sd; hinds, 6Jd. Chilled beef: Argentine fores, 4 l-8d; hinds, 8 l-8d; Uruguay fores, OJd; hinds, 7Jd. Others are unchanged.—A. and N.Z. Cable. THE WOOL MARKET. LONDON SALES. PRICES FIRM. Press Association—By Telegraph—Copyright, LONDON, July 10. At the wool sales there was an average selection of merinos, and a good offering of crossbreds. Prices were firm. New Zealand "A.H.W.” made up to 18d per lb, and averaged from 16d to IGJd. —A. and N.Z. Cable. THE FRUIT AND PRODUCE WORLD. Reilly’s Central Produce Mart report: Table poultry, bacon pigs, eggs, potatoes, emons, vegetables, choice section honey, firstgrade and medium cheese, choice dessert pears, violets, narcissi meeting an exceptionally keen demand. Our first consignment of now potatoes realised Is Id per lb New South Wales fruit ox Karetu arrived in shocking condition. Wo sold;—Narcissi 10s to 18s. Violets, 4s to 11s 6d. Rhubarb’ 7s dozen bunches. Tomatoes; Locals, to Is 9d, Christchurch, Is 4d New potatoes Is Id. Pears; Choice desserts, 3d, 4d; cooking. 2d. Pie melons, 2d. Walnuts, IOJd per lb. Apples; Desserts—Delicious 10s. 13s Gd; Jonathans, 6s Gd, 10s; Sturmers’ 7s Gd, 10s Gd; others, 6s. 10s Gd. Cooking’, 4s 6d, 7s. Lemons; N.S. Wales, 245; South Australian, 265; New Zealand, 18s. Oranges: Navels, choice, 22s Gd; Island repacks, 25s • Poormans, 10s, 12a Gd. Mandarins: n!s.W.’ choice, 22s 6d. Bananas: Ripe, choice, 30s. Passions: Australian, 18s. Pineapples: Choice, 22s 6d per case. Onions; Canterbury. 14s, 16s. Potatoes; Stirling, 7s; northern, 6s cwt; inferior, to 95s ton; eoed— Up-to-Datc, Eclipse 12s, Arran Chief Bs. Vegetable marrows, 7s, 8s 6d. Pumpkins, 10s. Carrots, 4s, Gs Sd. Parsnips, 6s, 8s 6d. Swedes, to 3s Gd cwt. Cabbages’ to 8s 6d. Cauliflowers: Choice, to 20s. Butter; Dairy pats. Is 3d, Is 4d; bulk, Is 4d; separator pats, Is 7d. Cheese: Choice, 9Jd; seconds, white, 7d, 84d. Beeswax, Is ~sd. Sardines; Pelican brand Brisling, 5s Gd; small Slid, 4s 9d. Pigs: Prime baconers, 7Jd; prime porkers, 9d; heavy-weights, to sd. Honev; Choice bulk, 54d per lb; sections, 9s to 12s; 10lb tins, 6s Gd each. Eggs; Stamped, 2s sd. 2s 6d; cased, 2s 4d, 2s sd; preserved, 2s. Fowl wheat, Bs. Moose linseed meal, 18s. Black Leaf "40”; 2lb tins, 4s 6d; 21b tins, 14s; 10lb, 565. Apple wrapping paper, Ss 6d ream. Poultry: Hons realised 5s 10d to 8s 2d, cockerels realised 6s 8d to 15s 6d, ducks realised lls to 11s 8d (all at per pair). REILLY'S CENTRAL PRODUCE MART (LTD.), Moray place, Dunedin.

FUTURE OF THE MARKET. EEELIXG IN BRADFORD. UNWILLINGNESS TO SPECULATE. Press Association —By Telegraph—Copyright. LONDON, July 10. The Yorkshire Post's Bradford correspondent says:—“For the moment the dark cloud which hung over the wool trade is considerably dispelled by the manner in which wool is being sold in London. Nevertheless, the spinners and manufacturers are not convinced that wool has yet reached the low-water mark. If the opening wool sale prices are maintained throughout tire series they believe that a Tower basis will be reached when the new clip is marketed three or four months hence. They are shaping their policy on this assumption, and therefore they are unwilling to speculate.” The Yorkshire Observer says: ‘‘Though opinion at this early stage of the wool sales is cautious, the view appears to be growing that the wool price drop has definitely exhausted itself. Monday’s sales in Australia are keenly awaited. The main desvlopment at present in Bradford is the increased inquiry which has resulted from the confidence that a substantial volume of business is maturing.—A. and N.Z. Cable. THE WHEAT MARKET. Press Association —By Telegraph—Copyright. LONDON, July 12. (Received July 12, at 11.5 p.m.) Wheat cargoes are quiet, in sympathy with weak American and Canadian. advices. Parcels are rather easier for Manitoba, but otherwise prices are about unaltered. Liverpool futures —October, 10s 6d; December, 10s 2£d.—A. and N.Z. Cable. CHICAGO WHEAT. Press Association — By Telegraph—Copyright. NEW YORK, July 11. (Received July 12. at 5.6 p.m.) Chicago wheat: July shipment, 154$ cents; September, 149 cents; December, 1503 cents. —A. and N.Z. Cable. BANK OF ENGLAND EETUBN. Press Association —By Telegraph—Copyright. LONDON, July 9. The Bank of England return affords the following comparison with the return for the previous "’ CCk July 1. July 8. Coin and bullion £155,756,000 Reserves 30,729,000 33,406,000 Notes in circulation ... 140,629,000 If 391,000 ■ Government deposits ... 11,059,000 Other deposits ... ... 143,951,000 1 8,0.2,000 Government securities... 46,677.000 42,517,000 Discounts and advances 90,278,000 71,992,000 Proportion of reserve to liabilities 19.74 25.70 Short loans 3$ Three months’ bills ... 4 9-16 4J The proportion of reserve to liabilities is the highest since the war. GOVERNMENT SECURITIES. Prcao Association—By Telegraph—Copyright. LONDON, July 9. The following are the latest quotations for Government securities compared with the prices ruling last week:—

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