COMMERCE AND FINANCE

Otago Daily Times, Issue 20918, 7 January 1930, Page 3

COMMERCE AND FINANCE

GRAIt: REPORT. Donald Reid and Co., Ltd., report as under:— Chaff. —Prime oaten sheaf is the only quality that meets with inquiry. Any trucks coming forward of this grade are generally disposed of ex the truck. Storage space is at a premium at present in the stores, and merchants are compelled to sell ex truck or find storage elsewhere. There is no demand for second grade or inferior chaff. Prime chaff is worth up to £6 10s per ton,- sacks extra, ex truck, Dunedin. Potatoes.—The local market is now confined to the auction rooms, and there are plenty .of potatoes available for present requirements. Prices are still in the region of 2d to 2Jd per lb for best locals. Grain.—The grain market is in a very stagnant condition, and will no doubt remain so until business commences with the new crop. Feed requirements represent all the business passing. Good feed oats are selling ex store from 3s 3d to 3s fid per bushel, sacks extra. Very few grade oats remain unsold in this centre. Fowl •wheat is now in short supply, and consumers are buying only as their stocks become exhausted. Best fowl wheat is realising up . to 6s 6d, sacks extra, ex store. No milling wheat is offering from the country. LONDON MARKETS. The Bank of New Zealand has received the following advice from London as at the close of business last week:— . Butter.—The market is weak. Quotations are: 156 s to 158 - per cwt. Cheese.—The market is weak. Quotations are: White. 86 s to : -87a per cwt; coloured, 84s to 85s per cwt. Frozen Meat. —Smaller supplies of wethers have caused prices to harden. For ewes the market is improving. The market for new season’s lambs is expected to decline owing to the high prices checking demand. There is a good demand for beef. Quotations are; Wethers—light 63d to 7d per lb, heavy sjd to 6Jd; ewes, 4Jd to 5Jd; lambs—twos IOAd to lid, eights IOJd to lid, fours 10Jd to lid, seconds Oid to lOd; ox—hinds 6Jd to 7d, fores 4|d to sd; cow—Linda 54d to 6d. fores 4Jd to 4Jd. A. S Paterson and Co, have received the following cablegram from London, doted January 3: — Butter. -The market is slow, and prices are irregular. Quotations are: Danish, 176 a to 178 s; New Zealand, 156 a to 160 s; Australian. 152 s to 1565; unsalted, 158 s to 1625. Cheese.—The market is quiet and prices are easier. Quotations are: White, 87s to 88s; coloured. 85s to 86s. LONDON MARKETS. HIGH COMMISSIONER’S CABLEGRAM. (Special to Daily Times.) _ WELLINGTON, January 6. The Department of Agriculture has received the following cablegram dated January 4 from the High Commissioner: — Tallow: Market steady; next auction on January 8; present quotations are per hundredweight—Mutton, fine, 395; fair to good 36s to 38a; dark to dull,-34s 6d to 355; beef, sweet and (or) mixed. 37s 6d to 40s; fair to good, 34s 6d to 375, dark to dull 33s 6d to 345; mixed, good to fine, 37s to 37s 6d; fair 34s 6d to 355; gut, etc., 32s 6d to 345. Eggs: Market slow and buyers holding back;_ prices lower owing to increasing supplies of English and Continental; present quotations are per long hundred— English, 20s to 245; Dutch and Danish, 16s fid to 2ls; French and Belgian, 15s 6d to 20s; South African, 15s 3d to 18s fid; Australian. 16s to 17s 6d; .Polish, 12s fid to 13s 6d. Hemp: Manila market quiet but steady; J grade January-March shipment sold at £35 10s; sisal, market very quiet a Pfctt from small demand for good marks of No. 2 grade; closing values for Janu-ary-March shipment—Good marks No. 1 £37 10s, No. 2 £36, fair average quality £36 and £35 respectively; New Zealand, market quiet in absence of offers from shipper's, _ and buyers apathetic; nominal comparative closing values —high-fair £33, fair £29 10s, common £2B; tow second grade £2l. third grade £lB. Wool: Bradford market . dull with buyers waiting resumption of sales; present quotations are—Tops, 58’s 2s per lb 40’s prepared Is 5Jd to Is 6d per lb. others unchanged. Peas; English maple, supplies adequate lor present, quiet trade for good samples jii a J e obtainable at 47s 6d; imported, dull and - 'dragging; fair stock on hand to be cleared; No. 1 New Zealand new, crops. Partridge February-March shipment at 61s, March-April shipment 60s 6d, but buyers ideas of values from 58s to 595; nominal value A grade Tasmanian February-March shipment 05s to 665; Blues heavy Japanese arrivals and poor consumption; prices low; no inquiry for colonial; nominal value New Zealand not more than £l3 to £l4. Beans: English winter in small supply, good, samples making up to 46s 6d; fair quantity of spring offering; small round making up to 48s; but demand quiet; Chinese horse slow with sellers at £lB 15s per ton. Danish cocksfoot: Market quiet - but -steady; stocks reported small; present value 97s fid, c.i.f. . Oats: English supplies moderate; fine white offered at 21s 6d and 22a; poor demand for imported; Plate Januaryrebruary shipment offered at 17s; German 18s to 20s; official' Argentine estimate of new crop is 7.000,000 quarters compared with 5,250,000 quarters last season; nominal value New Zealand A grade Gartons in absence of business on offers January-February shipment, 245. MINING. MAHAKIPAWA GOLDFIELDS. The‘.directors of Mahakipawa Goldfields, Ltd. (Christchurch) have accepted the tender of Mr J. M. Stewart, of Dunedin, to sink several six-inch prospecting bores to an estimated depth of 130 feet, adjacent to the past year’s operations, in the hope of locating - a more promising field. The claim is situated about 12 miles from Picton, midway between Queen Charlotte and Pelorus Sounds. Boring will be resumed immediately, all plant having been placed on the site, EMPIRE MINING CONGRESS. The third triennial Mining and Metallurgical Congress will be held in South Africa this year, commencing March 24, when the congress will bs officially opened at Capetown, concluding on May 9 During that period, the delegates will be conducted on a tour through the Union and the two Rhodesias.-the total distance to be covered being about 7000 miles. All the important raining centres will be visited and the delegates will have the opportunity of seeing modern equipment in use. There will also be technical sessions at which general discussions will be held. Scott _ Bros., produce merchants and commission agents, agents for " Dunedin Egg Suppliers’ Association," report;— Eggs: Market dull, wholesale to-day, storekeepers, Is Id; guaranteed, Is 2d per dozen. Butter: Dairy pats, Is Id to Is 2d: bulk, Is 2d to Is 3d per lb. Honey; Bulk, 4*d to 5d per lb; 101 b tins, 4s 6d to 4s fid each. Beeswax, Is 5d to Is 6d per lb. Fat, ifis to 21s per cwt. Poultry: Hens, 3s to 4s per pair; heavv breeds, 4s Od per pair. Ducks. 2a 6d to 3s 6d each. Geese. 4s to 5s each. Turkeys: Hens, Is per lb; gobblers, Is 2d per lb. Pics: Prime baconers. lid to 8d per lb; porkers, 7Jd to 8d per lb. Potatoes; Old. £2 10s to £3 per ton; locals, ijd to l|d per lb. Onions: Auckland, 15a per cwt; Melbourne, 12s per cwt. Green peas, 3d to 4d per lb Chaff: Prime oaten sheaf, £6 to £6 10s per ton. sacke extra. Whole fowl wheat, 6s 5d to 6s 8d per bushel. Maize, 8s 6d per bushel. Oats. 3s fid to 4s per bushel, •sacks extra. Straw: Pressed wheatan, £3 Iss; oaten, £4. Please note.—Pigs and poultry must arrive not later than Thursday in the week. We also stock the following lines:—Meat meal, charcoal, oyster grit, chicken fopd, egg crates, quotations on application. January 6, 1030.

SYDNEY WOOL SALES. (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, January 6. (Received Jan. 6, at 11 p.m.) ,-. The wool sales were resumed with good general competition. The market was very firm for al] good wools at the closing rates of December, but there was irregularity for all faulty and wasty descriptions. Greasy merino made 20d.