COMMERCIAL.

Otago Daily Times, Issue 19531, 14 July 1925, Page 6

COMMERCIAL.

LONDON WOOL SALES. Messrs Dalgety and Co. (Ltd.) report having received the following cablegram from their head office, dated London, July 10: The wool sales continue firm, and lately reported rates are fully maintained; demand active; crossbred wools, fine quality, par to 5 ner cent, higher; good bright American styles crossbred, medium qftality, prices fully as high as last sales; shabby parcels slightly easier. Butter; Since our last wire prices are la per cwt lower. Messrs Murray, Roberts, and Co. (Ltd.) are in receipt of a cablegram from their London agents, dated July 10, giving quotations as under:— Close of previous series. 5G’«, yielding 60 per cent, 21Jd 20d 50’s, yielding 65 per cent. 17Jd 18d 44’s-46's preparing, yielding 74 per cent 151 d 16d 44’s-46’s carding, yielding 72 per cent 142 d IBid 40’8-44’s, yielding 73 per cent 14Jd 15d 36’8-40’s, yielding 75 per cent Quotations are based on good style wool. America is buying suitable wool at about Id higher; average and faulty wool Id to IJd lower. THE DOMINION RUBBER 00. (LTD.). The secretary reports that he is in receipt of a cablegram from the estate advising that the crop of rubber harvested for June was 24,0001 b, GRAIN AND PRODUCE. Messrs Donald Reid and Co, report :~- Oats.—This market remains unsatisfactory, and prospects of improvement seem veryremote at the present time. Gartens are nominally' worth 3s Gd. on trucks, with extra money available for heavy lines. Wheat.—The bulk of this season’s crop has now probably been disposed of. Millers have ample supplies coming forward from Australia, but will still offer better than fixed rotes to secure local lines. Fowl wheat is firmer, and 7s 6d, ex store, sacks extra, can bo obtained for good quality. Chaff.—Prime quality is the only keen saleable proposition. Other grades are gradually being disposed of for cattle feeding. We quote; £5 to £5 ss, ex truck, for good oaten sheaf; medium, £4 to £5, ex store; and inferior, £3 to £4. ex Store (sacks extra in *ach case). Potatoes.—This market is governed greatly by the northern shipping demand, and as the recent rains in Canterbury have interfered largely with digging operations, prices have firmed in sympathy. Local stocks are also being gradually exhausted. We quote, £5 par ton, ex truck, sacks in, for f.a.q. Messrs Dalgety and Company report ns follows; Oats.—The market is lifeless, and values have not altered. A grades are worth nominally Ss 6d per bushel, on trucks. Wheat.—Millers are buyers of any lines offering, and judging by the very few samples coming forward, the quantity left in growers’ hands must be very small. Potatoes.—The supply is heavier, but the demand is sufficient to absorb any good lines arriving. Choice lines are realising £5 per ton, ex truck. Chaff. —Consignments have been coming forward freely during the week, and these combined with the quantity held in store have been more than sufficient to meet the demand. Wo quote:—Prime oaten sheaf, £5 to £5 ss; medium, £4 to £5; inferior, £3 to £4. THE STOCK MARKET. (Pee United Pkess Association.) FBILDING, July 13. Pastoralists are anticipating much better prices for their stock, the general trend of the markets being of a hardening nature. Inquiries go to show that ewes in lamb and good hoggets arc in keen demand, the shortage of sheep being most marked. Cattle are also being eagerly sought. There have been a number of clearing sales along the Wpst Coast and good prices _ have been realised for dairy stock of quality. Farmers appear to be quite'•willing to pay big figures for cows of a good milking strain. Both the sheep and the cattle markets are, therefore, bright, and are likely to continue so.

PROPERTY SALE. Messrs Alex. Harris and Co. submitted at auction yesterday, under instructions from the Public Trustee in the estate of the late William Scott, all that parcel of land being section 39, block XII, Dunedin, containing 35 poles (more or less), with eightroomed residence thereon, being No. 86 Elm row. There was a good attendance of buyers, and although the bidding was spirited the property failed to reach the reserve, out was Sold immediately after the sale to Mr S. H. Poole for £1350. • DAIRY PRODUCE. Messrs Joseph Nathan and Co. report as follows: — * BUTTES. The latest quotations from London (under date July 8) indicate a slow market at 186 s to 188 s. Since our last report the market touched 190 s for a short period, but has now depreciated to the above quotations. _London report that the demand is restricted, chiefly owing to the advanced retail prices, which are now being asked in consequence of the recent upward trend of the market. Stocks of New Zealand butter iu store, London, are not being lightened to the extent that some would like, and naturally this will not tend to firm the market because buyers will only operate for small parcels, and will not buy forward, well knowing that ample stocks are in sight. It is thougnt in some quarters that the market may go higher in the near future, but London a cabled report states that an advance will depend entirely upon a continuance of the present dry weather, which England and Europe are experiencing. This will probably affect Siberian arrivals, and together with the weather conditions, may substantiate this view. The quality of Siberian butter which has been arriving in England to date has been good, and has met a ready market for this class of butter, Siberian butter* in the future should bo a factor which will need to be considered. We understand that some offers are about for August-September output at Is 7d, f,0.b., and October la 62d, but believe these are for specified factories, and may not oe considered as general. Butter held in the dominion at the end of June was 48,8200wt5, as compared with 79,440 for J line, 1924, and 63,080 for 1923, The gradings for the same period were ll,Booowts, 22,160cwt5, and 14,920cwt5. respectively. For the 11 months ending June 30 production showed an increase of 14.1 per. cent, as compared wtih last year. Imports of Butter into United Kingdom from all Sources. Apl., 1921. Apl., 1925. From, Owts. Cwts. Russia 1.321 28,074 Finland 8,682 15,377 Sweden 1,746 3,211 Denmark 114,915 150,274 Netherlands .. .. 4,244 7,398 Franco ' ie U.S.A 861 1,888 Argentine (Republic) 61,717 53,730 Irish Free State .. 5,614 7,997 Australia .. .. .. 61,443 181,139 New Zealand .. 112,455 173,150 Canada Other countries .. 2,974 896 Totals .. .. 375,475 625,901 Re-exports of Butter. Apl., 1924. Apl., 1925. To. Cwts. Owts. Netherlands .. .. 565 1,826 Belgium 915 4,047 Franco 1,802 6,656 U.S.A 1.264 Irish Free State .. 4,801 9,971 Other countries .. 5,360 23,296 Totals 14,716 45,696 Our Australian correspondent reports under date Juno 27: Sydney.—Choicest quality, 163 a 4d per cwt. Good demand. Melbourne.—The market is unchanged at 168 s for choicest quality with good demand. Brisbane. —The price for choicest quality has been maintained at 173 s 8d per cwt. ■ New York, writing under date July 5, reports:—Receipts; (six days), 88,150 boxes. Last year, 105,589 boxes. Quotations: Extras, 43 cents. Firsts, 42$ cents to 42J cents. Same day last' year: Extras, 40$ cents. Firsts, 394 cents to 40 cents. The market i s very firm and it seems impossible at this stage to account for higher prices, as in some quarters it is prophesied that the summer there will be cool *and wet; on the other hand, others toll Us that there will bo a dry, hot summer, with little production. If the latter, it will mean that America will be looking to Denmark for supplies, and this will, of course, affect prices for New Zealand. Montreal reports June 5, that receipts are rather lighter than for the same period last year, but the weather is favourable for make and quality. Quotations are 83J cents to 34$ sente, with a probability of higher prices. , , , Philadelphia reports that although production in the United States during May was heavier than at the same time last year, production since January 1 is 14 tier cent, lighter than in 1924, which probably accounts for the higher prices prevailing to-day. Production for the next few months is generally regarded as probably being lighter than last year, due to tho lack of rain in the most important producing areas. CHEESE. During the past fortnight the cheese market has appreciated very steadily and today’s quotations from Ixmdon (under date July 8) are 106 s to 108 s, with a slow market. As stated in our previous* circulars, this rise is due mainly to the hot weather, and the future of the market depends upon this. We have heard of offers of 9sd to 9sd for August-October output, but believe factories are inclined to hold out for higher prices, or, alternatively, they wish their November output included in this price. Stocks of cheese held in the dominion at tho end of last month were; 28,800cwts, as compared with 88,900 cwt in 1924, and 12,080 cwts in 1923. Gradings for tho same period wore 2K,34ocwt, 32.200 cwt., and 19,420 cwt. respectively. For the XI months ending June 80 production showed a decrease of 5.4 per cent, but the buttcr-fat equivalent for butter and cheese for the above period showed an increase of 7.1 per cent. The following comparison, of imports into United Kingdom from the various countries in 1914 and 1923 should be very interesting, as it shows that New Zealand is now the chief supplier to the United Kingdom: 1924. 1923. Country. Per. cent. Per cent. Canada 51 82 New Zealand 28 52 Holland 13 Italy 4 3 U.S.A. 1 1 Australia .. 1 2 Other countries .... 2 3 Totals 100 100 New York reports under date June 2: Quotations were as follow;—Single Daisies, 215 cents to 22 cents; Longhorns, 22$ cents; Young Americas, 22 1 cents ; Twins, 22-$ cents; Cheddars, 22 cents. Production shows no appreciable decrease as compared with last year. Montreal reports under date June 5; Weather fine and warm; showery. Quotations on that date were 89s, with every indication of higher prices and little chance of a decline. Imports of Cheese into United Kingdom from all Sources. Apl., 1924. Apl., 1925. From. Cwts. Cwts. Netherlands .. .. 9,592 13,649 Italy/ 9,794 12,167 U.S.A 373 3,094 Australia 4,360 18,830 New Zealand .. .. 144.084 194,874 Canada 3,442 19,265 Other countries .. 3,108 3,655 Totals ... .. 174,753 265,534 The National Mortgage and Agency Company is in receipt of the following cablegram from London; Butter: The market is quiet at 186 s. Cheese: The market is steady at 106 s.

UNION BANK OF AUSTRALIA. FINANCIAL STATEMENT. Press Association—By Telegraph—Copyright. LONDON, July 12. (Received July 13, at 7 p.m.) The Union Bank of Australia made a profit of £880,402, and added £IOO,OOO to the reserve. A dividend of 15 per cent, was declared for the year, and £92,902 was carried forward. A premium on the shares issued in October, amounting to £600,000, was added to the reserve.—A. and N.Z. Cable. PRICE OF BUTTER IN MELBOURNE. Press Association—By Telegraph—Copyright. MELBOURNE, July 13. (Received July 13, at 9.50.p.m.) The wholesale price of butter has been increased by Ss per cwt. AUSTRALIAN WOOL. RESUMPTION OF SALES. Press Association —By Telegraph—Copyright. MELBOURNE, July 13. (Received July 13, at 11 p.m.) After an interval of nearly three months the wool sales were resumed to-day. There was good general competition at the prices which ruled in April. The Queensland sales will be commenced on Tuesday, and the New South Wales on July 25. Scott Bros., produce merchants and commission agents, agents for the Egg and Poultry Growers’ Association, Dunedin, report:—Eggs: To-day’s price, 2s 2d; stamped,, 2a 3d. Butter; Dairy pats, Is 3d to Is 4d; bulk, Is 4d to Is 5d per lb. Honey: Wanted; prime bulk, 5Jd per lb; 10lb tins, 5s 6d to 6s each. Beeswax, Is to Is 3d per lb. Fat. 22s to 24s per cwt. Poultry: Hens, 4e 6d to 5s per pair; cockerels. 8s per pair; ducks, 6s to 8s 6d per pair; Geese: Nominally, 7a 6d per pair. Turkeys: Hons lid, gobblers Is per lb. Pigs Bacouers, 8d per lb; porkers, 8d per lb; overweights, 4d per lb. Canterbury onions, £l6 por ton. Potatoes: Steady; prime samples, £5 5s to £5 10s per ton, ex truck. Chaff: Prime oaten sheaf, £5 to £5 5s per ton (sacks extra). Whole fowl wheat, 7s 9d per bushel. Maize, 9s por bushel. Oats, 4s Cd per bushel (sacks extra). .Straw: Pressed wheaten, £3; oaten, £3 3s per ton, ox store. Please Note.—Figs and poultry must arrive not later than Thursday in the week. We can quote for the following lines: Pareora meat meal, oyster shell grit, leg rings, toe punches. Star brand chicken food.ftorizontal egg crates. ESTABLISHED 1861. A Market for Poultry. Consign your Poultry to us. Ws are buyers of all kinds. The weights must be—viz.: Fowls, live weight 3ilb each and over; cockerels, live weight 3ilb each and over; ducklings, live weight 41b each ami over; turkeys all weights. No commission, railage paid, crates supplied. Write lor quotations.—W. STEWART (LTD.), Fish and Poultry Merchants. Head office, 236 Princes street. Dunedin. ‘Phones: Branch 1676; Head