COMMERCIAL

Otago Daily Times, Issue 19946, 13 November 1926, Page 15

COMMERCIAL

Daily Times Office. Friday evening. Both in New Zealand and Australia supplica of wheat have become short, and m iVleloiourno the market shows an advance of 6d per bushel, it will not bo long, however, before the now season’s Australian wheat will be available. The temporary firming in Australia has caused an advance in price in the New Zealand markets, especially in the North Island, whoro the position is more affected ny importations than in the south. In the south the advance has made no appreciable difference, as the quantity often is very small. Good milling. wheat is wortn 7s 6d per bushel, sacks extra, ex store, while fowl wheat is worth 7s. Millers’ prices for flour are as follow; 20011., £l9 ss; lOU’s, £2d ss; 50’s, £2O 17s 6d; 25’s, £2l ss. ' Bran, £7 10s per ton. Pollard, £9 10s. Oatmeal—2s’s, £2a; 200’s, £24. The recent slntistics published by the Government show that the area in oats for the coming season is greater than that planted last season. This information has rattier upset calculations, \ and it has caused a further weakening in the market. Moreover, the stores have to be emptied of oats to make way for wool, and the position now is that on the one hand, buyers are holding off, and on the other hand, those who have oats are pressing sales. The general quotation to-day is Ss lid f.0.b., s.i. for A’s. and 3s 8d for B’s, but only a few sales have been effected at these figures. These quotations show that the value of oats is now under 3s on trucks to the growers. Offerings of potatoes are in excess of the demand, and prices are dropping everyday. Best quality is now worth £3 5s per ton, sacks included, and there is a general desire on the part of growers to quit their holdings. The present position goes to show that even with the heavy export of potatoes from New Zealand there are still more than sufficient to meet local. requirements. The chaff market is quieter than it has been at any time during the w-hole season. The shipping demand has practically ceased, owing to the drop in Australian prices preventing this port from competing for orders from the North Island. The result is that all the consignments now coming in here are.thrown on the local market, and there is not sufficient demand to absorb them. The top value to-day lor best quality is £5 15s per ton, sacks extra, ex truck. Best grade only is inquired for, other quality bein- almost unsaleable. There is very little doing in the seed markets. Merchants are still endeavouring to make sales to London, but as there is very little high percentage ryegrass available here, London merchants are not responsive to offerings. Current wholesale prices for produce line* are as follows : Chaff, £5 10s to £5 15s per ton. Potatoes, to £4 per ton. Dairy butter: Best milled, bulk. Is to Is Id per lb, according to quality; separator pats, lid to la. Eggs.—Stamped, Is 7d; case. Is sd. Bacon. —Roll, Is 3d per lb. «fiams, Is 4d per lb; boneless, Is 6d. Onions. —Canadians, 255. FRUIT REPORT. The Katoa brought qbout 1500 cases of bananas These met a good demand. Another shipment of bananas is due tomorrow (Saturday). The Whangape, from Sydney, brught a light shipment of oranges, also a few ci rimbers and some vegetable marrows. ih. Manuka, from Melbourne, brought about 500 cases of fruit, practically all oranges. The' next lot of oranges is due to arrive ex Karetu, which will leave Sydney on the 16th and is due here about the 23rd. Choice dessert apples are in strong demand. but small and medium are still diffi cult to quit. Supplies of Christchurch hot-house tomatoes are increasing, and prices have receded slightly during the week. New potatoes are still bringing High prices. Cucumbers, green gooseberries, and asparagus are in good demand. Asparagus has advanced in price during the week. Green peas are more plentiful. Supplies are arriving chiefly from the Canterbury district. Cauliflowers are now in short supply, and prices have advanced. Good cabbage have a fair inquiry, but anything not first-class is slow of sale. Current wholesale prices are as follows: Apples.—Delicious, choice, 10s per case; extra choice, 12a 6d : others, 5s to 6s; Sturmers, choice, 9s to 9s 6d : extra choice, 12s; small. 3s 6d to 4s-6d; Democrats, 7s 6d to 8s 6d; cookers, 4s 6d to 5s 6d. Oranges.—South Australian, 255; Sydney 22s to 255. Lemons. —Californian. 37s 6d to 40s per case. Bananas. —Ripe, 35s per case; green to 30s. Aparagus, 10s to 11s 6d per dozen bundles. Pears, 6s to 7s per half case. Gooseberries, 4d to 5d per lb. Cucumbers, 12s to 16s per dozen. Grapes: Californian, 32s per barrel Christchurch tomatoes. Is 8d to Is lOd per lb- seconds, Is 2d to Is 4d; local hothouse from Is lOd to 2s Island to 12s 6d per case. RhubaPb, 2id to 4d per lb. Pines, Island, to 22s per case, repacked. Cabbages- Choice, 3s 6d to 6s per sack of two dozen; others, 2s per sack. Cauliflowers, 10s to 14s per sack, containing two dozen (choice only); others. Ss to 8s per sack (choice only). Green peas, 5d to 6d per lb. Parsnips (old), 16s 6d per sack. White turnips. 2s per dozen bunches. Potatoes (old), 5s per cwt; new Peninsula, Is to Is 3d per lb; North Island to 2Jd per lb. Short supply. Swedes, 6s 6d par cental bag. « Beetroot, Is to Is 6d per dozen bundles. Leeks, 3d to 4d per bundle. Spring onions to 4d per bundle. Lettuce: Choice to 5s 9d per dozen; others, 2s to 4s. Carrots, new season. Is 6d per dozen bunches; small, Is. Spinach, 2s to 2s 6d per dozen bunches. Vegetable marrows (Australian), 25s to 26s 6d per case BRITISH FILMS. COMPANY FORMED FOR AUSTRALIA AND NEW ZEALAND. A company with a capital of £30,000 has been registered and has gone to allotment in Christchurch. The object of the company is to distribute in Australia and New Zealand films from the British Empire Studios The directors of the British film Service (Ltd ) are well-known successful business men. It is an all-British company, with British capital, British directors, and British employees. Messrs Fraser and Co., agents for the Otago Egg Circle, report as under: —Egg Circle eggs Is 7cf, case Is 6d. Tallow: Market firm from 21s to 265. Honey : Good demand, prime bulk 5d to sid, undergrade 3id to 4d, 101 b tins 5s 6d, sections 9d to 10d. Butter: 11b pats Is to Is Id. Pigs: Good bacon weights Bjd to 9d, porkers 8d to Bid. We are agents for Pareora Meat Meal. We stock Star P. Chick Food, lucerne meal, poultry meal, oats maize, wheat, bran, and pollard, Champion Egg crates 18s, leg rings Is per dozen (special quotes for quantities). New potatoes 2d to 2id. Poultry: We submitted a full yarding, and prices for all lines were down, especially hens. We sold as under:—Hens, 1(X) at ss, 150 at 6s, the balance from 7s 6d to 8s 6d, well-grown cockerels 8s to 12s, staggy from 4s to 6s. Ducklings, 7s 6d to 11s, ducks 5s to 6s 9d, geese 6s to 8s 6d, pigeons Is 6d. All at per pair. Turkeys: Gobblers 1? 3d and hens Is 2d per lb live weight. Consignors please note that ’ pigs and poultry must arrive not later than Wednesday morning of each week. Wc have a stock of poultry crates on hand for the use of ov.- clients.

PROPERTY SALE. Messrs E. L. Macassey and Co. offered by auction at their rooms yesterday a property situated in Bathwick street. Morn* ington, consisting of a four-roomed house, outbuildings, and freehold section. Bidding started at ±I3OO and reached £420, at which price the property was sold to Mr C. Currie. DAIRY PRODUCE. Messrs Dalgcty and Co. (Ltd.) have received the following cablegram from their head office in Loudon, dated November 11: Butter. —Danish, 1765; Australian finest unsalted, 160 s; Australian finest salted, 140 s to 1465. New Zealand Control, minimum prices; Finest 150 s; first grade, 148 s; last season’s stored, 136 s to 140 s. White Cheese.—Finest, 87s; first grade, 86s; coloured, 85s; last season’s, 85s; Canadian. 86s to 87s; last season’s, 85s. The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) has received

(ho following cablegram from its London office: The butter market is very slow. New Zealand new season’s, 148 s to 150 s; stored, 156 s to 140 s; Australian, 136 s to 144. Chceso is quiet 85s to 87s.

LONDON MEAT MARKET. Messrs Dalgcty and Co. (Ltd.) have received the following cablegram from their head office in London, dated November UrFrozen Meat.—The market for New Zealand lamb is weaker and the demand poor. The market for New Zealand mutton is weaker and the demand less, _ The market for New Zealand beef is quiet and tiro demand fair. The market for Australian lamb is weak and the demand limited. Quotations are as follows for frozen meat; —New Zealand prime crossbred lamb, Canterbury light, lOd; North Island light 9|d; Canterbury heavy, 7-Jd; North Island heavy, 7£d; good average quality crossbred lamb, Australian light, 9^d; New Zealand prime crossbred mutton, Canterbury light, 6id; North Island light, 6Jd ; Canterbury heavy, sjd; North Island heavy, sd; New Zealand prime os, beef hinds, sd; foros, 4d. The pork market is dull and prices are unchanged.

The Otago Farmers’ Co-operative Association of New Zealand (Ltd.) has received the following cablegram from its London office: Tho lamb and mutton markets are weaker owing to increased supplies from Australia and tho Argentine.

SOUTHLAND MARKET REPORT. (From Odb Own Correspondent.) INVERCARGILL. November 12. GRAIN. Outs. —During the last few days there has been some little movement togetner with inquiries troin Australia for prime Dunns for seed purposes. So lar as the north is concerned Buyers an. still disinclined to operate at local merchants’ ideas of value and continue to offer prices so far removed from local values that business cannot possibly result. Knowing the stocks of oats merchants see no reason to reduce quotations, which are generally speaking on the basis of 4s 3d for A's, 4s for B’s f.0.b., s.i. A fair quantity of oats have been, absorbed for sowing down as a-marently farmers had not reserved any quantity for theiu own use. The outlook is considered .piite > atisfactory from the point of view of holders. Chaff. —The price to growers is still maintained at £4 10s on trucks for good bright quality, but as northern markets are now being supplied from Australia the demand is of small proportion. Ryegrass.—There has been a little movement during the last week or 10 days though at figures which do not indicate the value of good quality seed, the bulk of the business that has been done being in lines of somewhat low germination. Twentyseven to twenty-eight pound seed with a germination of 85 per cent, still commands 5s 6d per bushel. This figure, too, in many cases, shows a loss rather than a profit ro tho local buyer. STOCK REPORT. The stock market shows very little change from our .eport of last week. Both fat cattle and fat sheep are coming forward freely and prices are much on a par with our previous report. The yardings at Wallacetown on Tuesday were hardly so large as the sale of October 26, and the presence of a northern buyer tended to keep fat cattle firm. Fat sheen in common with fat cattle vary very little from week to week, and there are more offering mini needed for local requirements. The weather during the past week has been very mild, feed is coming away well and both store sheep and cattle are inquired tor. Fat Cattle.—Extra prime heavy bullocks to £l6, prime heavy bullocks £l3 to £ls, medium weight bullocks £lO 10s to £l2, prime heavy heifers £9 ,10s to £ll, medium heifers £7 10s to £8 10s, prime heavy cows £lO to £l2 5s medium cows £7 3jss to £8 15s, lighter to £6, _ vealers to 30s and £2, runners to £3, prime ox beef 32s 6d to S4s per 1001 b, prime heifer beef 3t)s U> 32s 6d per 1001 b. Fat Sheep.—Extra heavy prime wethers to 375, prime medium weight wethers 32s 6d to 34s 6d, lighter wethers to 30s, prime hoaw maiden ewes to 31s 6d, prime ewes 25s 6d to 28s 6d, lighter ewes 20s to 22s 6d, heaw prime lambs 28s to 31s 6d, medium weight lambs 25s to 27s 6d, lighter lambs 20s to 23s 6d. Store Sheep.—Wether hoggets 24s 6d to 265, ew e hoggets 30s f o 35s 6d, mixed sex hoggets 28s 6d bo 30s, two-tooth wethers 27s 6d to 29s 6d, four-tooth wethers 50s to 31s 6d, old ewes and lambs all counted 14s 6d to 16s 6d, two, four, and sis tooth owes 18s 6d to 22s 6d.

Store Cattle.—Two and three-year steers £8 to £9 15s, two-year steers £6 to £7 15s, yearling steers £3 10s to £4- 15s, two-year heifers £3 to £3 10s, speyed cow,§ £4 to £5 10s, old cows £2 to £2 10s. COMPANIES REGISTERED. The Mercantile Gazette reports the registration of tha following companies: Southland Tanneries (Ltd.). Registered as a private company October 21, 1926. Office: Invercargill. Capital: £IOOO, into I'JOO shares of £1 each. Subscribers: Waikiwi—G. S. Fraser 400, H. M. Nichol 200, J. W. Pickens 200, B. Ready 200. Objects: Tanners andi leathsr manufacturers. George Lumsden (Ltd.). Registered as a private company October 23, 1926. Office: Invercargill. Capital: £SOOO, into 5000 shares of £1 each. Subscribers: Invercargili—T. J. Lumsden 4300, E, E. Lumsden 200. Objects: Watchmakers and jewellers. OAMARU MARKETS. .-From Ode Own Correspondent.) OAMARU. November 12. The holding of the Carnival Week in Christchurch has had a dulling effect uopn the Oatnaru markets, and practically no business has been done by local merchants with outside firms. There are still one or two fairly largo parcels of last season’s wheat held by owners, and negotiations for their purchase are not yet completed. The prices at present offering are about 7s 6d per bushel. Very little forward delivery business has been done for new season's wheat as the prices are still uncertain. It is now considered locally that the yield this season, although larger than last season, will fall considerably short of the Dominion’s requirements. A meeting of wheat-growers is to be, held at Ashburton early next month, when the question of prices will be discussed. Although a fairly large quantity of oats is still held, the transactions in this cereal have been very small. A parcel of B Garton changed hands at 3s per bushel on trucks. Oaten sheaf chaff is under offer, and a few sales have been made at £5 5s per ton on trucks. The potato market continues dead though a few tons of table potatoes have been sold at £3 to £3 10s per ton at country stations. A small transaction in Chevalier barley is reported. Large quantities of seeds of various kinds have been going out, and merchants have been kept busy this week in filling orders in this direction. The live stock market is still lacking in animation. Failing-mouthed ewes and lambs (all counted) are in good supply, but buyers are shy. and the operations have been comparatively small. ' Fat wethers are hard to nick up, and are sought at prices up to 40s per head. Fat lambs are now coming on the market at prices ranging from 25s to 30s. The opening price for lambs fo _ export is still a , little uncertain :OUgh it is not expected to be below BAd per lb. Fat bullocks are still sel!in~ at from 35s’ to 40s per 1001 b; fat heifers at 22s 6d, and cow beef at 21s. Dairy cows are not in much request as most of the farmers’ requirements have been filled. There is a good demand for young pigs, and weaners have b<y--. selling at 25s and upwards. NATIONAL INSURANCE COMPANY. The directors of the National Insurance Company of New Zealand (Ltd.) report; The net income for the year amounts to £249 534 2s 7d. After making full provision for losses outstanding, transferring £2091 to reinsurance reserve, there is an underwriting surplus of £14,709 18s lOd. Interest and rents, etc., amount to £35,690 11s 5d (less income tax thereon £3498) equalling £32,192 11a sd. Profit on debentures was £166 10s, and balance brought forward £32,332 Ss Bd. Out of this an in terim dividend was paid in May, 1926, of £12,500. The directors have added to reserve fund £15,000. They .now recommend the payment of a further dividend of 2s per share (making the total distribution for the year 3s 3d per share), which will absorb £20,000; and to carry forward £31,901 8s lid. BRAY BROTHERS (LIMITED). AUCTIONEERS, DUNEDIN, Want Fruit, Farm and and Lairy Produce. Write them for market reports. Prompt attention given to correspondence. —Advt.