COMMERCE AND FINANCE

Otago Daily Times, Issue 20022, 12 February 1927, Page 9

COMMERCE AND FINANCE

WHEAT AND PRODUCE. Tala*# o i milling wheat have eased durfetg the week, but miliar# axe still showing a reluctance to bqj. Advices from Canterbury state that the yields so far are above the average,' and it is expected that increased returns will bo the rule right through the northern province. It is too •axly yet to give a definite opinion regarding the quantity of wheat to bo garnered in Otago, but it is thought that aotoollent yields will also be obtained here. Business has been done in milling wheat during the week at from 5a 7d to 5s Bd, ■neks extra, on trucks, country districts, according to railage. The market to-day, however, shows further signs of weakening. , Millers’ prices for Hour are as follows: — 2001 b. £l7 15s; 100’s, £lB 10s,; 50’s. £lB Xss; 25's, £l9 ss. Bran. £7 10s per ton. Pollard, £lO 10s. Oatmeal—2s's, £2l; 200’s, £2O. Fowl wheat prices, prompt delivery, are yound about those named for milling Wheat. Forward prices are inclined to ease, Os the offerings become more general. The shipping market for oats remains lifeless. Values for A am] P> cartons are Still Ss 3d f.0.b., s.i., and 3s respectively, ut these prices are occasionally broken to ho extent of Id per bushel. Growers are •ot offering, but some of the southern merchant* are endeavouring to quit their Carry over of under-grade oats from last fear and several parcels have changed Banda at low figures. There is no change to record in the «ha£E market. Supplies are fully equal to (he demand, which is not very brisk. With ■acreased supplies coming forward the market is expected to weaken considerably. Price# for potatoes are irregular, and Will not reach a basis till the middle of feext month, when the main crops should Commence to bo available. Prices tango found about £5 for ton lots, ex truck, Dunedin. A certain amount of business has been done in new season’s perennial ryegrass »nd Italian and Western Wolths. Merchants txe not keen buyers, and the prices offered to growers are only in the vicinity of 2a to 2s 9d for perennial and Is 9d for Wolths and Italian. Not much business, however, is passing. Produce lines are quoted wholesale as follows: — Ghuff to £5 per ton for best quality. Potatoes, ton lots. £5 for best quality. Extra quality lines to £5 10s. Jiggs, stamped, la 8d; cose, Is 7d. Dairy butter, milled bulk, XOd to lid, hocording to quality: pats, 8d to 9d . Bacon, Is 2d per lb. Ham, Is 2d per lb; boneless, 1# 3d. Canterbury onions, lls per cwt. FRUIT MARKET. Bttainesi has been brisk in the fruit market during the week, a good demand existing for aU classed. Apricots and nectarines, in particular, ■re in short supply and high prices are peieg realised. Plums are plentiful and prices low. A shipment of Raratonga bananas is due parly next week, when price# should bo touch easier. Fiji bananas are also due at She end of the week. Navel orange# are in short supply and price# high, Raspberries and loganberries ore about finished. Supplies of tomatoes are increasing, but feat week’s good prices are being mainpained. Prices, however, should ease very Boon. Vegetables of all descriptions have a poor Inquiry. Current wholesale prices are as follow: Apples.—Gravenstem 12s to 14s per case; Worcester Perm tins 10s to 12s per case; ■cokers 8s 6d per case. Californian navels 40s pear double case. Lemons. —Califoaiian 30s to 35s per Rouble case. I Bananas, ripe, 30s to 55a per case. Raspberries 8s to 9s per bucket. Loganberries, 7s 6d to B#. Plums, Ijd to 2jjd per lb. Nectarines, 6s to 8s per half cose. Christchurch tomatoes. 1# to la 3d; rands, lOd to la; local nothouse, 1# Id to 3d. Cucumbers, 7s to 10s per down. Fears, 6s to 6s half case. Apricots; Crates. 6d to 8d; coses, 4d to fid per lb. Peaches, 6* to 7s per half case; crates, •d to 6d per lb. Cauliflower#, 6s to 6# per sack (choice (Only); other#, 3s to 4a, Green peas, lid to 2d. Swede turnips, 5s per cwt. White turnips, 6d to Is per dozen bunches. Potatoes, 7s per cwt. Cabbage.—Choice, 4s to 5s per sack of iwo dozen; others, Is to 3s. Spring onions, up to 4d per bundle. Lettuce. —Choice, to 3s per dozen. Parsnips and carrots, new season’s. Is per dozen bunches. Broad beans, Id to lid per lb. French beans, 4d to 5d per lb. LONDON TALLOW SALES. Messrs Dalgety and Co. (Ltd.) advise Jawing received the following cablegrams from their head office dated February 10: — At the tallow sales 955 casks were offered, and 23 sold. Prices are unchanged except for inferior tallow which is 6d per Cwt lower. SOUTHLAND i BOZEN MEAT AND PRODUCE EXPORT COMPANY. The report of the directorse of the Southland Frozen Meat and Produce Export Company (Ltd.) for the year ended December 31 states that the balance available for appropriation, as shown by the profit and loss account, after the usual provision has been made for depreciation and for contingencies and after the payment of an interim dividend of £5677 7s at the halfyear is £34,495 18s 6d. The directors recommend that a final dividend for the year of 5 per cent, on the paid-up capital be paid, making 10 per cent, for the year and absorbing £5677 7s 6d, and that the balance of £28,818 lls 6d be carried forward. SHEEPSKIN SALE. Messrs Dalgety and Co. (Ltd.) advise having received the following cale message from their head office dated February 10.There was a good attendance of buyers. At compared with closing rates of last series the following prices were received: — Superfine, merino combing, 5 par cent, to 7i per cent higher; other descriptions, menno combing, 6 per cent higher; merino clothing, crossbred clothing, demand slow, prices unchanged; fine crossbred combing, 0 per cent, higher, medium and coarse, 6 per cent, to 7 per cent, higher. BANK OF ENGLAND RETURN (Pres# Aseootitlon—By Telegraph—Copyright) IXINDON, February 10. The following is the Bank of England return for Wednesday : Issue Department Not# circulation £136,969,000 Notes in reserve ... _. ... 51,724,000 £168,693,000 Government debt Other securities 8,735,000 Gold coin and bullion 143,943,000 £168,695,000 Banking Department. Proprietors’ capital £14,553,000 Rest 3,610,000 Public deposits 14,720,000 Other deposits 105,,625.000 Seven-day and other bills ... 3,000 £138,511,000 Government securities £29.3,5,000 Other securities 75,663,000 Note* in reserve 31,724.000 Gold and silver coin 1,246,000 £133,511.000 The proportion o! reserve? to liabilities ia 27.30 per cent. Short loans are quoted at 4 per cent,, three-month hills at 4£ per gent.— -£*• and N.Z. Cable.

LOCAL AND OVERSEAS MARKETS.

MELBOURNE MARKETS. (Press Association —By Telegraph—Copyright.) MELBOURNE, February 11. Wheat, 5s lid to- 5a IJd. Flour, £l2 10s; cash. 5a concession. Oats: Milling, 3s 3|d; feed, 3s. Barley: English malting. 4s to 4s 3d; feed, 3a 4d to 3e Sd; Oape, 3s 7d; feed, 3a. Potatoes, £8 10a to £lO 10s. Onions, £4 10s to £5. THE SHARE MARKET. DUNEDIN STOCK EXCHANGE A fairly large amount of business has been transacted on the Dunedin Stock Exchange during the past week, and the tone of the market is still firm. Bank of New Zealand# are still in demand at 59s 6d, but sellers will not part at less than 60s. Commercials are at present inquired for at 30s 9d, though a sale was expected at 31s 3d early in the week. Sellers still ask that price. The rights have firmed, and buyers are willing to give up to 9a sd. Sellers will not take’ less than 9s 9d. National Bank of New Zoalands are in stronger demand, buyers offering £7 Is 6d compared with £7 a week ago. Sellers’ quotation remains at £7 3s. E. S. and A.’a are wanted at a reduction of Is. A shilling separates the quotations for Western Australian Banks, which are inquired for at 58s. . New Zealand Breweries have weakened, buyers’ best offer being 60s 6d. Sellers, however, will take only 3d lees than they asked last week. Inquiry for Debentures reached 24s 2d during the week. Buyers are offering Is less for Wards this week, and Mannings, too, have dropped back a little. National Insurances firmed to turnover at 745. At present, however, there is an absence of buyers, with sellers at 74s 9d. New Zealands are ex dividend, with a strong buyer at 36s 3d, but no sellers at less than 375. South British Insurances have attracted a buyer at 555. Business has been reported in HuddartParker orda. at 475. Inquiry close to that price has brought forth a reply at 47s 6d. There is no immediate demand for P. and 0. Deferred Stock, which is offered at £272. Westport Coals are wanted at an advance of 3d, but sellers’ demand has increased by the same amount. Persistent inquiry for Dalgety’s at £l6 5s has not met with success, and buyers have made a small advance. Goldsbrough, Morts have firmed again, and buyers are offering 50s fid. The paid-up issue of New Zealand Refrigerating* is slightly stronger, but a weaker demand for contributing shares is being experienced, though business was reported at 6s 2d a few days ago. Auckland Amusement Parks have weakened, a parcel changing hands at 6s premium. Further lots are available at 6s 6d premium, without inquiry. British Tobaccos are stronger, with buyers at 62s 6d. Sellers’ quotation leaves a margin of Is 6d. D. ordinary shares are on offer at lls premium, but buyers have made no advance on their quotation of 9s 6d. There is no demand for Dominion Rubbers, which are available at 49# 6d, Inquiry for the new issue of Milburn Lime and Cements has dropped back to 3s 9d premium, but at present none are on offer. Wilson’s Cement# ore still wanted at 3os. Kawarau# have improved in value, buyers’ offer of 3s 4d attracting a seller at 3s Bd. Electrolytic Zincs are practically unchanged. Kawarau High Levels made a sudden advance during the week, and business at Is premium resulted. Further lots are on offer at 3s premium without a buying quote. , St Bathane, too, ara without demand. Both issues are offered at par. Upper Nevis shares are offered at 4a premium, a reduction of sixpence on last week’# demand. . Government stock generally is firm. Both the 1938 and 1939 issues of 4* per cent. Bonds can be obtained at £96 12s fid. Sale: Auckland Amusement Park 5s prom. Pales reported: 'National Insurance 745; Huddart, Parker (ord.) 475; Nokomai Sluicing Co. (cont.) 6s prem. , The following are yesterday afternoon s buying and selling quotations, which are subject to the usual brokerage: BANKING. Bank of New Zealand—Buy 69s 6d, sel 60s. Commercial Bank —Buy 30s 9d, sel 31s 3d. Commercial Bank (rights)—Buy 9s sd. sel 9s 9d. National Bank —Buy £7 Is 6d, sol £7 3s. National Bank of Australasia—Buy £lB Is. National Bank of Australasia (cont.)— Buy £9 2s 6d. E. S. and A. Bank—Buy £8 4s fid, sel £8 9s'Western Australian Bank—-Buy 58s, sel 59s BREWERIES. Manning and Oo. —Buy 19s, sel 21s. N.Z. Breweries (Ltd.) —Buy 50s fid, sel 52s 3d. N.Z. Breweries (Ltd.) Dobs. —Buy 245. Ward and Co.—Buy 40s. INSURANCE. National Insurance Co. —Sel 74g 9d. N.Z. Insurance Co.—Buy 36s 3d, sel 37?. South British Insurance Co.—Buy 55?, sel 56s 3d. SHIPPING. Bums Philp—Buy 40a. Huddart, Parker (ord.)— Buy 46s 9d. sol 47a 6d. Huddart, Parker (prof.)—Buy 20s fid. P, and 0. Deferred Stock—Sel £272. U.S.S. Co. (pref.)— Buy 20s. COAL. Westport Coal Co.—Buy 35s 3d, sel 36*. LOAN AND AGENCY. Dalgety and Co.—Buy £ls 6s. Goldsbrough, Mort—Buy 50s 6d, sol 51s fid. National Mortgage—Buy 62a. N.Z. Loan and M. (ord.) —Buy £93. N.Z. and River Plate—Buy 22*. Wright, Stephenson (ord.) —Buy 21s. Wright, Stephenson (pref.)—sol 17s. MEAT PRESERVING. N.Z. Refrigerating (pd.)—Buy 13s fid, sel 14* 3d. N.Z. Refrigerating (cont.)—Buy 5s lOd, sel 6* 2d. MISCELLANEOUS. Auckland Amusement Park —Sel 5s fid prom. British Tobacco—Buy 52s 6d, sel 545. Brown, Ewing (pref.)—Buy 20* 9d. Colonial Sugar—Buy £57. D.I.C. (ord.)—Buy 9s 6d prem.. sol Ha prom. D.I.C. (pref.)—Buy 20s fid. Dental and Medical Sup.—Sel 18a. Dominion Investments—Buy 20s, Dominion Rubber—Sel 49a fid. Dunodin-Kaikorai Trams—Buy 34a. Eclipse Petrol—Sel 12s. Kaiapoi Woollen (cont.)—Buy 2s 9d. Kaiapoi Woollen (pref.)—Buy 13g fid. Milburn Lime and Cement —Buy 275, sel 28s 6d. Milburn Lime and Cement (new)—Buy 3* 9d. Mosgiel Woollen Co.—Buy £6. National Electric —Buy 14s, sel. 17s, N.Z. Drug Co.—Sel 70s. N.Z. Malay Rubber (ord.) —Sel 455. Otago Daily Times (rights)—Buy 36*. Wilsons (N.Z.) Cement —Buy 36*. MINING. Kawarau G. M. Co.—Buy 3s 4d, sol 3? Bd. Wnihi—Sel 17s 3d. Electrolytic Zinc (prof.)—Buy 36s 9d, sc! .‘7: 6d. Electrolytic Z. (ord.) —Buy 36?, ?el 37?, Mount Lyell—Buy 28* 3d. Kawarau High Level*—Sel 3s prem. SL Balkans (A and B issue?)--Sc! par. I'ppcr Nev.;>- Td 4? prem. Albumin—Buy 3s 3d. WAIV BONDS. 44 per cont. Ponds, 1930.—8uy £O7 ss. 4J, per emit. Bond?, 1038 -Sel £OS ]2s fid. 4J. per mill. Bonds, 1039 —Sel £96 12s fid. 54 per cont. Soldiers’ Bonds, 1933—8uy £lOl.

41 per oeoi. Inscribed, 1933—50 l £O6 3AI 5J per cent. Soldiers' Inscribed. 1933 Buy £lOl. „ _ 5 per cent. Postal Bonds, 1927—8uy £B6 sa, sel £99. 6 per cent. Postal Inscribed, 1927—8uy £9B. 54 per oeni. Inscribed, 1936 —Sol £lOl. NORTHERN EXCHANGES. (Pbb United Press Association.) The following business wu done on ’Changes yesterday: Auckland. —Sales) Bank of Australia £l4 12» fid, £l4 lls fid; Bank of New South Wales £49 10* fid; Bank of New Zealand 465; New Zealand Insurance 36s 9d: Goldshrough, Mort 50a Id; Auckland Gas 22s lid; Contributing Issue 14* sd; Huddart, Parker Shipping 47s fid; Electrolytic Zinc (prof.) 37a 3d; Occidental aaid United (oont.) ?4d; Waihi 16s fid. Wellington.—Sales reported: Westport Coal 35s fid; Standard Insurance 67a 3d; Wellington Woollen (pref.) £6 6a. Christchurch. —Sales reported ; Electrolytic Zinc (pref. cum. div.) 375; Bank of New Zealand 59* 9d, 60s (two parcels); New Zealand Insurance 56s 9d (three parcels); Kaiapoi Woollens (17s pd.) 9s 9d. Sales: New Zealand Government 54 per cent. Bonds (1927) £99 ss; Dunedin City 5! per cent. (1933) £GS 5s ; Now Zealand Insurance 36* 9d; Commercial Bank of Australia (right.*) 9s 9d (two parcels); Royal Bank (£1 pci.) 595: Western Australia Bank 58s 4d; Smith British Insurance 56 s; Goldshrough, Mort 50s 9d : Huddart. Parker 47s fid (three arcols); Burns Philp 41s 7d. FAT STOCK PRICES. MEAT BOARD'S QUOTATIONS (Peb United Press Association.) WELLINGTON, February 11. The New Zealand Meat Producers’ Board advises that the following prices are being offered for fat stock for export on February 11, 1927: — Poverty Bay.—Prim© woolly lambs. 351 b and under, 7Jd; 371 bto 421 b, 64d; 431 b and over, 6id; second quality lambs. 64d. Hawke’s Bay.—Prime woolly lambs. 361 b and under, 840; 371 bto 421 b, 7id; 431 b and over, 6|d; second quality lambs, 74d, Wellington.—Prime woolly lambs, 361 b and under, 84d; 571 bto 421 b. 7id; 43ib and over, 6Jd ; second quality lambs, 7id; prime wethers 561 b and under. 54d ; 571 b to Glib, 4Jd; 651 bto 721 b, Aid ; . ewes. 561 b and under. 34(1; 57!b to 641 b, 0(1. Canterbury.—Prime woolly lambs. 361 b and under, Sid; 371 h to 421 b. 7Jd ; 431 b ann over, 6?d ; second quality lamb?, 7jd. ONAKAKA IRON. SHIPMENT TO AUSTRALIA. (Peb United Press Association.) NELSON, February 11. The first direct shipment of Gnakaka iron to Australia is being made to-day hy (no Union Company’s vessel Kaitamratn, winch i* loading 700 ton* at the tloaknka wh.-iri. Messrs Fraser and Go., ageuG loi the Otago Egg Circle, report as under; Egg Circle eggs, Is 8d lease eggs, Is fid to Is 7cl. Tallow: Market linn from 21s to 265. Honey; Good demand; prime bulk, 5d to 54d; under grade, 34d to 4d; lOlb tins 5s fid; sections, 9d to lOd. Butter: lib pats, 9d. Pigs; Good bacon weights, 7d to 74d; porkers, 7d to 74d. 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 fid; log sings, Is per dozen (special quotes for quantities). New potatoes: Oamaru, £6. Poultry: Wo held our usual sale on Wednesday at 1.30 p.m., when we sold (is under: White Leghorn hens 150 at 3s 6d; 200 at 4s; balance from As fid to 5s lOd, Veil errown cockorcls, 8s to 9s; staggy, from 3s fid to ss; ducklings, 8s to 10s; ducks, 6s to 8s; geese, 8s to 13* fid; pigeons, la fid (all at per pair)- tnrkevs—gobblers 1? 3d and hens Is Id per lb (live weight). Consignors picas.? note that mgs and poultry must nrriv- not la tor tnan W Innsdav morning of each week. Vn have a stock of poultry crat?* on hand for the use of our clients. SOUTHLAND MARKET REPORT. (Fbom Otm Own Correspondent-) INVERCARGILL, February 11. GRAIN. Without exception all branches of produce business are at the moment in a state of stagnation, with the sole exception of a small retail business in oats and chaff to .., oc i a horse owners. Nothing much will be on the market in so far as. oats are concerned for probably quite another six weeks, as the bulk of the oats in the Invercargill portion of the district, at all events, were sown on the late side owing to a somewhat unfavourable spring. The bulk of the crop of Chewinfis Fescue has now been harvcf?tocl, arui the seed is of a particularly fine quality. Threshing mills arc now operating on the seed threshing from the stock, but in a number of instances growers, for the sake of germination, are putting their seed into stack. A good deal of Crested Dogstail is now under the binder and the out-turn of this is expected to be in excess of last season, the seed also generally being in fine order, though in one or two instances it has been damaged bv frost. No samples of ryegrass have yet been shown of local production, hut it is anticipated that to-morrow and during next week a fair number of early lots will be offered by growers. A local broker has been offering, on northern merchants’ account, Canterbury grown ryegrass at 2s fid per bushel, on trucks This naturally leaves a profit for the selling merchants, so it is quite evident the price for local grown seed, even for best quality, cannot possibly exceed that figure, while Ihe general value will, in all probability, be somewhere in the neighbourhood of 2s to 2s 3d. while Italian will be something even lower. STOCK REPORT. There is very little change to report in the stock market, there being a steady supply of both fat cattle and sheep, and prices are much on a par with those ruling for some time past. The quality of the fat stock coming into the yards is good, due to a great. extent to an abundance of feed and an extremely mild summer. Store sheep are selling well, and prices are somewhat high considering the prices obtained for fats, hut then again this is due to a great extent to the country being under-stocked. Store cattle are bringing good money, and it looks as if it is quite a paying proposition to rear calves at the prices paid for young cattle. Fat Cattle.—Prime heavy bullocks, £l2 to £l4 10s; medium weight prime do, £lO 10s to £ll 15s; prime heavy heifers, £C Jos to £8; medium do, £5 15s to £0 10s; prime heavy cows, £7 to £8 ss; medium do, £5 10s to £0 10s; runners, to £3; vealers, to 335; prime ox beef, round about 30s per 1001 b; heifer do, 27a fid to 30a; cow beef, 20s to 22s fid per 1001 b. Fat Sheep.—Prime heavy wethers, 26s fid to 28s; medium do, 24s to 25a fid; prime heavy ewes, 20s to 22s fid; medium do, 15s to 18s; prime heavy butchers’ lambs, 24s to 25s fid; freezing lambs, 22s to 23s fid. Store Sheep.—Mix-sex rape lambs. 18s fid to 10s fid; two-tooth wethers, 20s fid to 22a; four-tooth do, 22s fid to 245; twntooth owes, 30s to 335; four, six, and eight-tooth ewes (guaranteed), 30s to 32a fid. Store Cattle.—Three-year steers, £8 to £0 10s; two-year do, £6 to £7 os; yearling do, £3 15s to £5; two-year-old heifers, £3 10s to £4; young cows (empty), £3 to £4 ss. CHICAGO WHEAT MARKET. (Press Association—Bv Telegraph—Copyright.) NEW YORK, February 10. (Received Feb. 11, at 5.5 p.rn.) Chicago 'Wheat.- —(May. 141 J cents per bushel; .Tulv, 1345; £<■;-,(ernber, 132 V.— A. and N.Z. Cable. LONDON METAL MARKET. (Pr«»* Association —f!i Telegraph—Copyright.) LONDON. February 10. fßeceived K, 11, at 11 p.rn.) Topper: Stand;,; d -pot, £54. 6* 3d; forward. £54 16? 3d. Lead: Spot, £,i 7.-, fid; forward, £27 17i 6d. Speller: Spot, £25 10?; forward. £29 13? 9d. Tin- ;i ir,t, £SOB 2* fid; forward, £295 17 s fid. Silver: Standard. 26 J3-16d; hue, 28 15-16 d por ounce.—A. and N.Z. CaU*.

I P. AOT) 0. SHARES. (Preea Aesootatlon—By Telegraph—Copyright.) LONDON, February 10. (Received Feb. 11, at 5.5 p.m.) P. and O. Fharea are quoted at £269. — A. and N.Z. Cable. BRADFORD WOOL MARKET. CPraae -A.Mociation—By Telegraph—Copyright.) LONDON, February 10. (Received Feb. 11, at 8 p.m.) The Bradford wool tops market is firm, with an upward tendency, and spinners aTe showing more interest. Quotations: fi4'a quality. 46$d; 60's, 43Jd; 56's, 33M; 50's, 25 id; 40" s, 20£d; 40's, 19Jd.— A. and N.Z. Cable. DUMPING DUTIES. EMBARGO ON WHEAT PROPOSED. (Feb United Pbeoß Association.) ASIIBURTON, February 11. The mid-Canterbury executive of the Farmers' Union 'discussed dumping duties today. One speaker said that there was a difference of 55s in the pries of Australian flour quoted in Sydney and in Now Zealand, and the only way was to impose an embargo. The President, Mr J. Carr, said that it seemed as though the duty would be about 16s a ton, which would mean that tho average benefit to the miller would be about 10s. Millers would have to declare and show whether they were on the side of the wluat, growers this year at 5s 6d on trucks. Millers could bring down the price of flour so that wheat would be 5s 6il. Growers had to wait and see what stand the millers would take. The executive resolved that the chairman of the Joint Committee sot up in Christchurch recently to deal with the wheat question (Mr W. Machin) be written to stating that the executive was of the opinion that the committee should remain in existence in order to discuss wheat matters j also that a letter be sent to Mr Machin stating that the Acting-Prime Minister's decision on the dumping duty was entirely satisfactory to wheat producers, and that the committee meet at an early date to consider the matter further. CANTERBURY MARKETS. (Peb United Press Assochtioh., CHRISTCHURCH, February 11. Wheat is being offered in quantities which are causing millers sonic concern. The lowest figure for this week's delivery has been 5s 9d a bushel on trucks, but 5s 6d for Tuscan and 5s 7d for Hunters has been tho prevailing price for ordinary delivery. There was a rumour yesterday in the country that this price had been broken and that millers wore offering 5s 3d. There was no foundation for the rumour, as the bs 6d offer is still ruling. Yields continue high, but in some districts heads, as a result of tho prolonged spell of rainless weather, are "pinched" and are threshing below oarlier expectations. However, the figure mentioned some time ago as a probable Dominion yield—i.e., 34 bushels to tho acre, should not bo far beyond the ultimate result. A fair quantity for fowl wheat has been sold forward at 5s Bid f.o.b. Barley that was not contracted for u firactically unsaleable. Maltsters have been anded with such a surplus on their acreage contracts that they will not look at free barley for the time being, and 4s is a flattering quotation. A grade Gartons, a bright and an excellent heavy sample, have been offered at 2s 6d on trucks, B's 2s 3d. Threshing returns continue to show very heavy yields. A few parcels of cocksfoot have been offered merchants, but the price, 6d a lb, is not attractive to growers. Tho importation of cheap inferior Continental seed, which appears to meet the needs in the North Island, has helped to give this oldtime Canterbury industry a knockout blow. Ryegrass is not moving to any extent, and it is too early for clover samples. The firmer tone in potatoes noted during the mid-week is maintained, though not much business i 3 doing. The present dry weather, however, is causing some revision of the earlier crop estimates. . Onions are commencing to come forward, but as imported onions are held in the south the demand is practically nil at the moment. For ordinary delivery £3 15s on trucks is quoted. PROPERTY SALE. Alex. Harris and Co. sold by auction yesterday on account of the District Public Turstee in the estate of Frederick Thomson, deceased, a freehold property, being allotment 13, subdivision block XI, Forbury, containing 11.2 poles, together with a villa of five rooms thereon. After spirited bidding tho property was sold to a client for £260. OAMARU MARKETS. (Fbom Oub Own Cohrespondent-) OAMARU, February 11. Although harvesting operations are fairly well advanced, no movement in the grain market is yet reported. Local millers have been receiving supplies from the north, to keep their mills going, and have been paying from 5s 6d to 5s 9cl per bushel for Tuscan. The quality of the wheat received is said to bo excellent. No transactions are reported in North Otago wheat, either for prompt or forward delivery. Fanners are not disposed to sell at the prices at present offering—namely, 5s 6d per bushel for Tuscan and a proportionately higher rate for liner qualities. Whether the prices will harden in the next few weeks, remains to be seen. Meanwhile, the outlook for the grower, even with the 15s dumping duty on flour, is by no means encouraging. Merchants report that they have been unable to do business at the prices offering. The situation locnlly will no doubt be governed by the prices ruling in tho larger field of operations in Canterbury. While tho market for wheat is lifeless, that for oats is in a still more parlous condition. Algerians have been under offer, but are not in request, and any quotation given can only be nominal. A grade Gartons are not yet in large supply, and so there are heavy carry-over stocks in the south, and no demand in the north, the grower is placed in a very awkward position. The majority of farmers will prefer to stack their oats rather than accept the prices at present offering, which are not much more than 2s 6d per bushel, country stations. Barley, which is likely to be in short supply owing to the ravages of disease, is not yet on the market. A few transactions in fowl wheat are reported at prices varying from 5s 9d to 6s per bushel. Grass-seeds are coming in freely, but chiefly for cleaning, and few sales are reported. Perennial rye has been offered, but the prices are so low that no business has resulted. The same thing may bo said of cocksfoot. The live stock market lias been fairly active. There has been a good demand for rape lambs, at prices as high as 22s od, and forward dolivery lambs nave been coining in well. The season is not yet sufficiently advanced for storo ewes and wethers, but as there is an abundance of grass large supplies will be required, and prices should harden in the next few weeks. Store cattle are in fair demand. Three-year-old fat and forward heifers have sold at £5 10s, nnd fn.t and forward bullocks at £lO. Fat bullocks are still quoted at about 34s per 1001 b. fat heifers At from 25s to 30s, and fat cows at 15s to 20s per 1001 b. Schedule prices are being paid for fat lambs, while fat wethers are about the si me as last week. Baron pigs are finding a market at about per lb, and therfl is still a good demand or wenn n rs. COMPANIES REGISTERED. Tho registration of tho fpjlowing companies is reported in the Mercanti!'' Gazette : United Farmers' Manures (Ltd.). Regitered December 16. 1926. Capital: £7OOO. into 7000 shares of £1 each. Suhscrili"i-s : Dunedm—G. W. Gibson 5000. Septimus i Owen 200-0. Objects: To acquire and take I over as n, going concern the business of mixers of and dealers in manure? for fertilisers now carried on at Dunedin anil elsewhere by George William Gibson and Septimus Owen under the style of "0. W. Gibson and Co.,'' and to carry on ilie .-aid busine^. British Klrvtrieal and Fiigince.-im: Company (Ltd.). Registered «s a private mm pan'v Deecmb-r 21. 1926. Capital: .{: into' f'.vOO shai'c- of £1 each. :-mhrp!>e- , : fmnerlin-I'. •!. O'Nrili 21-A K M P. O'Neill MO. d. L. Millies 500. A. .V Raape 2-150. Objcrls: To acquire and \--i\o nvr as a going concern the bepiiess of elpclrjral and g«»i»ml »etail»r» of electrical

apparatus now carried on by Frederick Joseph O’Neill, and incidental. Fur Dressers and Dyer* (Ltd.). Registered as a private company December 22, 1926. Captain: £IO,OOO, into 10,000 shares of £1 each. Subscribers: Dunedin — Mooney* (LtdA 9998, G. Stewart 1, A, Pratt I. Objects: To canw on the business of tanners, furriers, dyers, manufacturer* of chemicals, furs, and clothing of all kinds, importers and exporters of all classes of skins and manufactured furs, etc. BUTTER AND CHEESE. (Frees Aenootation—By Telegraph—Copyright.) LONDON, February 10. (Received Feb. 11, at 6.5 p.m.) Butter.—Danish is firm and active at 1955. Other sorts are slow, and prices are unchanged. Cheese is dull. Australian coloured, 91s to 02s; white, 90s to 91s; New Zealand coloured, 94s to 955; white, 03 s to 94s. —A. and N.Z. Cable. LONDON SHEEPSKIN SALES. (Free* Association—By Telegraph—Copyright.) LONDON, February 10. (Received Feb. 11, at 11 p.m.) At the sheepskin sales 6268 bundles were offered, comprising a very good selection. There was general competition, America and the Continent participating. Compared with the December rates merinos and halfbrede, three-quarters to fullwoollod, were par to 5 per cent, dearer; medium woolleds to 7i per cent., low sorts to 10 per cent., short-woolleds to 71 per cent., low sorts to 10 per cent. Short-woolled pelts and lambskins wore difficult to sell, but prices were unchanged. —A. and N.Z. Cable. LONDON MARKETS. (Press Association—By Telegraph—Copyright.) LONDON, February 10. (Received Feb. 11, at 11 p.m.) Wheat cargoes are in slow demand owing to expected heavy late shipments and free offers of Australians. Quotations are 3d down. Parcels are obtainable at a decline of 3d to 6d, but buyers are not responding. Liverpool futures— March 10s 4 3-8 d per cental. May 10s IJd. July 10s 2Jd. The spot trade is fairly active, and prices are dearer. Australian (ex store), 575. Flour is steady. Australian (ex store), 425. . , Oats are quiet. Australian Algerian, 28s to 295; A grade Cartons, 30s to 31a Peas blues, are dull. Tasmanian, 400 s to 480 s; New Zealand, 400 s to 4605. Maples are in short supply, and are very firm. Tasmanian. 120 sto 12:>s; New Zealand, 110 s to 115 s. . Beans: New Zealand, 46s to 48s. A. and N.Z. Cable. foreign exchan ges . (Tress Association —IB Telegraph Copyiight.) LONDON, February 10The exchange rotes on T.nndon are as follows: Par. Feb. 7. Feb. 10. Paris, Jr. to « 21-524 ’53.37 12S -^ Brussels, bclgas to £1 ... 6 34 - 87 34 ' 82 Oslo, kr to £1 W.1«9 ,8 - TO Copenhagen, kr. to £1 Stockholm kr. to £1 ... 18159 ’8.17 18.17 Berlin, reiohmkn to £1 ... - 20.46 20.47 Montreal, del to £1 ... 4.865 4-B*l J.MJ New York. dol. to £1... 4.86; 4.84 16-16 4.85 3-32 Yokohama, nt. to yen ... 24.6 24i 241 Home, lire to £1 ... - 22.224 U9.CT 112.00 Calcutta, st to rpe, IB to gold £ 18 ’B.OO Hongkong, st to dol. ... * 24 5 Amsterdam, gnlld. to £1 12.107 12.13 13.12 J Batavia 15.107 12.11 19.10* • Governed by prio« of flilver —A. and 2C.Z. Cable. BRAY BROTHERS (LIMITED). AUCTIONEERS, DUNEDIN, Want Fruit, Farm and and Lairy Produce. Write them for market reports. Prompt attention given to correspondence. —Advt.