COMMERCE AND FINANCE

Otago Daily Times, Issue 20005, 24 January 1927, Page 10

COMMERCE AND FINANCE

MERCHANDISE MARKET. There is not much of moment to record in the merchandise market, as business has not settled down yet after the holidays. The Kurow has brought a cai’go of sugar. The next sugar boat will be the Waikouaiti, due about February 1. Varsity cigarettes are now in plentiful supply, a fair-sized parcel having been landed off the Northumberland. The Sussex, from Singapore, brought parcels of tapioca and sago, also pineapples, castor oil, lentils, and nutmegs. Stocks of desiccated coconut are getting low in the wholesale market. Amongst the cargo on the Hororata, which met with trouble shortly after leaving England for New Zealand, was a line of Zig-Zag cigarette papers. The mishap to the vessel will considerably delay hexarrival out here. Included in the cax-go brought from the East by the Waihora was coarse castor oil and a line of corn sacks.

LONDON WOOL SALES. (Press Association— Bj Telegraph—Copyright.) LONDON, January 21. (Received Jan. 23, at 5.5 p.m.) ’ At the wool sales there was an excellent selection. Merinos were in limited supply-, and for other sorts there was spirited competition at full opening rates. New Zealand brands realised the following figures: “C.G.C.,” ISJd down to 16Jd; “Pannikin,” 20Jd down to 17id; “Waiau,” 17d down to 15d.—A. and N.Z. Cable. Messrs Murray, Roberts, and Co. (Ltd.) are in receipt of a cablegram from their London agents, dated January 21, reading as under:— The sales continue firm. Continental buyers are operating freely, and Bradford buyers moderately. Compared with closing rates of last London sales, greasy merino suitable for the Continent advanced 5 per cent. Crossbred greasy, medium, good length and staple, advanced 5 per cent. Crossbred greasy, medium, other descriptions, par to 5 per cent, advance. Crossbred greasy coarse, par to 5 per cent, advance.

SOUTHLAND MARKET REPORT. (From Our Own Correspondent-) INVERCARGILL, January 22. Oats. —This market is distinctly fiat, the only business passing being in connection with local requirements-/ Northern offers for forward delivery have been received at varying prices, hut, generally speaking, at 3s 2d for A’s, 2a lid to 3s for B’s, f.0.b., s.i. Such prices do not appeal to local merchants, apd are generally considered much in the nature of speculative business. For prompt delivery the local market is still firm at 4s A’s, 3s 9d B’s,f f.0.b., s.i As can only be expected of such a variation in prompt and forward oats, no business is being recorded At prices offered by northerners the equivalent on trucks’ price to the grower for A grade oats will only in rare instanced exceed 2s 4d per bushel. Seeing that this is an unpayable price, merchants’ attitude in adhering firmly to their f.o.b. rates seems fully justified, as the bulk of Southland farmers are in such a position that they are by no means forced to sell promptly after harvest. Chaff. —In the almost entire absence of any demand, prices receded for prime quolity to '£3 10a per ton, on trucks, with little or no business passing at this figure. Ryegrass.—ln so far as outsider business is concerned, this market is at present absolutely stagnant. It is' expected that there will be a demand from .the Australian States for-autumn sowing. In the meantime the nominal value of ryegrass of 85 per cent, germination is 5s 4d per bushel for machine-dressed 261 b seed. STOCK REPORT. The slock market is quiet,, most of the business being transacted in /fat stock for local requirements and fat lambs for export. Fat cattle ax-e offering freely, and to all appearances will continue to be plentiful for a time, at least. As a consequence prices have eased somewhat during the last two months. Fat sheep are also in plentiful supply, more being offered than needed for local consumption. Nevertheless, with the freezing works in operation there ■may be quite a number of the lighter wethers disposed of far overseas. Fat lambs are also coming forward in largo numbers, some very prime lines being offered. The store sheep market is quiet at present, but store cattle are selling well, and, with feed plentiful anv young cattle offering are xeadily disposed of. , Fat Cattle.—Heavy prime bullocks, £l2 to £l4 10s; medium weight do, £lO 10s to £ll 15s; prime heavy heifers, £8 to £10; medium, £6 10s to £7 10s ; prime heavy cows, £7 10s to £9 15s; medium, £5 15s to £6 iOs; vealers to 355; runners to £3; prime ox. beef to 30s per 1001 b; prime heifer do. 27s 6d to 30s per 1001 b. cow beef, 20s to 22s 6d per 1001 b. Fat Sheep.—Prime heavy wethers, 27s 6d to 30s; medium weight, 24s 6d to 265; prime heavy ewes, 20s to 24s 6d; medium. 15s to 17s; heavy butchers’ lambs, 24s 6d to 265; freezing lambs, 22s to 23s 6d. Store Sheep. —Two-tooth ewes, 28s to 31s; two-tooth wethers, 18s 6d to 20« 6d; mixed-sex lambs, 18s to 19s 6d (as dropped); ewes and lambs, aged, all counted, 14s 6d to 16s. Store Cattle.—Three-year steers. £8 to £9 10s; two-year do, £6 to £7; yearling do, £3 10s to £5; two-year heifers to £3 10s.

FRUIT AND PRODUCE WORLD. Reilly’s report:—A keen demand for fruits; vegetables selling well. Potatoes .are in excess of requirements, and stocks are accumulating. Wo advise growers to hold stocks in the meantime. Larger consignments of poultry arrived. We penned 358 hen's, selling at 2s 8d to ss. 78 chickens at Is 4d lof3s 6d; 27 cockerels at 5s to Bs, 17 ducklings at 8s to 10s, 5 bantams at Is 6d to 4s, 31 pullets ‘at 9s id 11s 6d, and 6 pigeons at Is 6d (all at per pair), and sold: Section honey, 13s. Spring cabbage: Choice, 7s; medium, 3s to 4s 6d. Cucumbers, 7s to 12s for glasshouse, 3s to 4s outside. Spring carrots, Is 6d. White turnips, Is 6d. Spinach, Is 6d. Swedes, 2s 6d Cauliflowers, 5s to 12s. Vegetable marrows, 8s to 14s. Lettuce: Choice to 3s 6d Eggs: Slow sates; stamped. Is 8d; case Is 7d, .ill at per dozen. Butter: Bulk and "dairy pats, lOd, lid; separator. Is Id. Honey: Choice bulk, s|d; 10b tins, 7b. Comb foundation: Medium brood, 3s. Strawberries: Choice, Is 8d to 2s 3d; ?ood to Is 6rl ; jam (overripe), 9d to lOid. Cherries : Choice, Is to Is 8d; cooking, 4d to 6d Beauty of Bath apples, 7d to 9d. Gooseberries: Green, 2d to 3d; ripe, 6d to 9d seconds, 5d to 6d; locals, 21s to Is 2d; lOd to Is 2d. Red currants, 5d to 7id; black, 4d lo 7d : white, 3d. Loganberries, 7id to lOd. French beans, Bid. Broad beans 2d. Local grapes, 2s 3d. Cherry plums, sd. to 7d; early rivers’ plums, 4d to 6d; choice desserts 6d to Bd. Apricots: Choice to 9jd; medium, 6d to_ 7d. Nectarines ; Choice, BJd; medium, sid. Peaches: Jam, 4d to sd; desserts, 5d to Bd. Walnuts: Choice Akaroas, Is. Peanuts: Choice, sd. New potatoes; Locals, lid: Christchurch. Oamarus, Outrams, 6s to 8s cwt. Green peas: Extra choice, 2Jd to 3d; mediums, lid to 2d. Christchurch tomatoes; Choice, lOd to Is; mediums, 8d to9d; seconds, 5d to 6d ; locals. Is to Isi 2d; Nelsons, 10s 6d to 13s case. Rhubarb: 2d. Cheese; Mediums, BJ,d. Tea; 51b boxes Broken Orange Pekoe, 2s 6d. Beeswax: Is 4d. Is 6d. Horsehair: Is lOd. Bacon: Medium rolls, Is 14d; choice, Is 3Jd. Bacon Pigs: BJd; porkers. BJd; heavy weights, 64d; choppers, 4cl. Garlic: Bcl. Apples: Dohertys, 13s; Rod Astrachans, 12s; new season’s Gravonsteins, 11s 6d, 13s; Irish Peach, choice, 14s; cooking, 10s 6d. Lemons; Californians, 300/360’s, Festive brands, 30s; Mission, 325. Oranges: American Navels (to land), 37s 6d. Grape fruit; 36s Od. Onions: Californians, choice, 20s: Melbonrncs, 16s. Meat Meal: 18s. Oyster grit; 8s 6d. Fat: 19s to 24s cwt. Woodwool: 37s Cd. Molasses: In tins, 9s 6d case. Economic egg crates: 20 dozen, 16s; Champion. 18s Cd. Fowl wheat: 7s to 8s 3d. Oats; A grade, to 3s Cd; B grade, to 3s per bushel. Oatsheaf chaff: Choice, to £5 oatstraw chaff, 50s ton. Giraffe brand lime sulphur: Barrels, Is I Id. Black Leaf “40”: 21b tins, 15s; 101 b tins, 50s. Apple wrapping

LOCAL AND OVERSEAS MARKETS.

paper: Finest sulphate paper, 3s 9d per ream of 81b. Spray pumps; 12s 6d to £5. Lightning fruit grader: Finest on the market, ranging in price from £33 to £IOO. Strawberry punntes: Double strapped Jib and 11b, 70s per 1000. Strawberry crates: 24 pottle crates, 0s; 30 pottle crates, 6s Cd. REILLY’S CENTRAL PRODUCE MART (LIMITED), Moray place, Duuediu. LONDON MARKETS. LONDON, January 22. (Received Jan. at 5.5 p.m.) Cotton. —February, 7.18 per lb. Rubber. —Para, lOJd; plantation, 19Jd per lb. Jute.—January - February shipments, 324 d per lb. ! Hemp.—December-February, £37 10s per ton. Copra. January-February shipment, £25 17s Cd per ton. Linseed Oil, £32 6s per ton. Turpentine, 52s 6d per cwt.—A. and N.Z. Cable.

FROZEN MEAT. (Press Association—By Telegraph—Copyright.) LONDON, January 22. (Received Jan. 23, at 5.5 p.m.) Sheep.—Canterbury medium, 6|d; North Island new season’s light, 6Jd; medium, 6Ad; heavy, 6Jd; New Zealand ewes, 4|d; Argentine light, 5Jd; medium, sd. ■■ Lambs. Canterbury light, lOd; seconds, 71d; North Island new season’s firsts, 104 d; seconds, 9Jd; Argentine seconds, 61d. Frozen Beef.—Argentine hinds, 4d; chilled Argentine fores, 3d; hinds, 4§d; Uruguay, none offering. Others are unchanged.—A. and N.Z. Cable.

CHICAGO WHEAT. (Frees Association—By Telegraph—Copyright.) NEW YORK, January 21. Chicago wheat quotations: May, 139§; July, 130J;' September, 127 4 cents pier bushel.—A. and N.Z. Cable. THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. Business was done in Mount Isa’s on Saturday at 52s 3d, the market closing with buyers at 32s and sellers at 32s 6d. There was only 3d between buyers and sellers of Bank of Now Zealands, which were offered at 69s 3d. Coal and Oils were offered at lOd without any response from buyers. A sale of Wilson’s Cement was reported at 35s and more were wanted at this figure. Milburn Lime and Cement Co. rights were wanted at ss, with sellers at 5s 3d. . Sales: Mount Isa 32s 3d. Sales reported: Wilson’s Cement 35s The following are Saturday’s buying and selling quotations, which are subject to the usual brokerage: BANKING. Bank of Australasia —Buy £l4- ss. Bank of N.S. Wales—Buy £46 15s, sel £47 10s. Bank of New Zealand —Buy 595, sel 59s 3d. Commercial Bank —Buy 32® 2d, sel 35s 9d. National Bank —Buy £7 Is. Union Bank —Buy £ls Bs, sel £ls 12s. E. S. and A. Bank—Sel £8 12s 6d. BREWERIES. ■ Manning and Co. —Buy 18s 6d. N.Z. Breweries (Ltd.) —Buy 51s, sel 52s 9d. N.Z. Breweries (Ltd.), debs.—Sel 255. Ward and Co.—Buy 40s. INSURANCE. National Insurance Oo. —Sel 74a 6d. N.Z. Insurance Co.—Buy 37s 3d, sel 37s 9d. ' standard Insurance Co. —Buy 575, sel SBs 3d. SHIPPING. Huddart, Parker (pref.)—Buy 20s 9d. P. and 0. Deferred Stock—Buy £245. U.S.S. Co. (pref.)—Buy 20s. COAL. N.Z. Coal and Oil —Sel lOd. Westport Coal Co.—Buy 355, sel 365. LOAN AND AGENCY. Dalgety and Co.—Buy • £ls ss> sel £ls 17s 6d. , Goldsbrough, Mort—Buy 49s 6d. N.Z. Loan and M. (ord.) —Buy £93, sel £94. Perpetual Trustees—Buy 60s. Trustees, Ex. and Agency—Buy 58s. Wright Stephenson, 2nd loan debs. —Sel £Bl * MEAT PRESERVING. N.Z. Refrigerating (pd.)—Buy ,12s 9d, sel 14s 6d. ■ N.Z. Refrigerating (cont.) —Buy 5a lid, sel 6s 2d. MISCELLANEOUS. Brown, Ewing (ord.) —Buy 31s. Brown, Ewing (pref.)—Buy 20s 9d. D.I.C. (pref.)—Buy 20s ,6d. Dunedin-Kaikorai Trams—Buy 345. Kaiapoi Woollen (cont.) —Buy 2s 9d. Milburn Lime and Cement —Sel 30s. Milburn Lime and Cement (rights).—Buy ss, sel 5s 3d. Mosgiel Woollen Co. —Buy £5. M’Leod Bros’ Soap —Buy £25. National Electric —Sel 18s. N.Z. Drug Co. (paid). —Buy 70s, sel 725. Taranaki Oil —Buy 9a. Wilson (N.Z.) Cement— Buy 35a. Auckland Amusements Park—Buy 5s 6d nrem., sel 6s 6d prem. MINING. Kawarau G.M. Co.—Buy 3s Bd, sel 3s lOd. „ . Waihi—Buy 17a, sel 13s 3d. ■ Mount Lyall—Buy 28s Id. sel 28s 6d. St. Bathans (A issue)— Buy 10s (disc.), sel 4s (disc.). , St. Bathans (B issue)— Buy 10s (disc.), sel 5s (disc.). , , , Mount Isa —Buy 325, sel 32s 6d. Upper Nevis—Buy 5a prem.. sel 6s 6d prem. Big Beach —Sel. par. ’ , WAR BONDS. 41 per cent. Bonds, 1930 —Sel £97 12s 6d. 44 per cent. Bonds, 1939 —Sel £96 17s 6d. 54 per cent. Soldiers’ Bonds, 1935—8uy £IOO 15s. 44 per cent. Inscribed, 1938 —Sel £96 15s. 54 per cent. Soldiers’ Inscribed. 1935—8uy £loo' 15s. 5 per cent. Postal Inscribed, 1920—Buy £97 12a 6d, sel £9B. 54 per cent. Bonds, 1956-9 el £lOl 10s. NORTHERN EXCHANGES. (Peb United Peess Associate::.), The following business was done on ’Changes on Saturday:— Auckland. —Sales: Kawarau, 3s 10s; New Waiotahi (con.), Is 4d. Christchurch. —Salas reported: Bank ot New South Wales. £47 2s Od; British Tobacco. 52s 9d. Sales: Christchurch Gas, 265, 26s Id; National Bank of New Zealand. £7 2s: Bank of New South Wales, £47 2s 6d; Western Australian Bank, 54s 3d (two parcels); New Zealand Refrigerating (con.), 6s 3d; New Zealand Guarantee Corporation, 10s 4d.