NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2505, 26 March 1902, Page 17

NEW ZEALAND PRODUCE IN LONDON.

(From Oub Own CoREESPonsEicT.) February 15. WOOL. The New Zealand Loan and Mercantile Agency Company, after remarking that the first cries of wool sales for the current year were curtailed by one day, observes — " Values as compared wi f h the December seri^' final rates marked an advance of 5 to 10 per cent, on merino and fine crossbred, and 10 to 13 per cent. on medium and coarse oualmss of the latter. There was a full attendance of buyers throughout the sa.les, while ccwr.peUUon was more general and animated than for rome considerable time pa&t. The purchases o.i American account amounted to some 8000 bales, consisting mainly of crossbred of medium character in light condition., few which extreme rates ■were paid. Some irregularity was apparent during the latter part of the sales in the case of inferior and faulty merino, as well as coarse crossbred, Ihe top prices oi the series not always being obtainable for such descriptions at the close. The coarser qualities of shpe, ■which were in large supply, ruled about 5 per cent, higher, but for fine shpes, values chowed little or no alteration. The total sales amounted to 178,000 bales, of which a'^out 85,000 bales ■were taken for export, 15,000 bales being held oxer." The National Mortgage and Agency Company report that sales occupied 14 sittings, ■with a daily average of 13,127 bales, against 11.559 bales at the corresponding series of 1901. Of New Zealand wool, for the late aeries, the total available quantity was 59,700 bales. Out o.' this number 55,427 bale= were catalogued, 4300 baleb were bought m ; 6751) bales were not offered, and 8700 bilrs wro hc-ld over. It is estimated that 178,000 bnk"= of all descriptions were disposed of, t-'S,CK)d bales being taken for export, including about HOOD for the United States. The review of the Fales sent me by the National Mortgage and Agency Company is worded as follows •—' At the beginning | merino wools showed a rise of about 5 per cent, j compared . with closing December quotations and the next few days witnessed a further im- j provetuent of par to 5 per <_ci t. During tlie second week faulty and heavy parcels displayed some irregularity, and reverted to opening figures. The best descriptions, however, lemained steady, and on this basis the sales passed off with good spirit to the close. Fire scoured tvojjs were in excellent demand, as ntuch as 2s per lb being paid for a superior lot. For ordinary descriptions of scoured wool, however, the inquiry was hardly go gocd as for j greasy, and the improvement, 0:1 tho average, above December rates was covered by 5 per cent. About 65,000 bales of cro.ssbred wool weie offered, and of this figure fcomewhat over 17,000 bales were shpes. Under strong competition both fine and coarse descriptions in the grease showed a rise of 10 to 12A per cent compared ■with December prices, while on medium descriptions the rise was often fully 15 per cent. I The excellent American demai.d for bright, Jight, medium to coarse wools was quite a feature of the sales. Slipes at (lie outset did not share in the general improvement, but toward the close they advanced about }d per lb Since the close of the sales, markets i> Yorkshire have been ralher quiet, and co far as the coarser descriptions of crcssbreds are concerned, the equivalent of late Loudon prices has been maintained with tome difficulty. XF.W ZEALAND ifK\T. I hear from the Ne-.v Zealand Lean and Mercantile Agency Company that there has not been any material change during the past three weeks in the position of the frozen mutton maiket, though with a slow demand v?lues have somewhat fluctuated. Prime Canterbury mutton is to-day worth from 2s 4d to 2s 6d, Dunedin and I Southland 2= 2d to 2s 4d, and North Island 2s id to 2s per store. A few new season's INew Zealand lambs have come to hand, and Lave realised h'gh prices, wh'le old season's, of •which there is still a convderable quantity on Land, meet a slow sale. There arc large quantities of second and third quality Australian j lambs available, and holders, suxious to clear, ( ate accepting very low rates. To-day's quota- [ tions for prime Canferbury lamb, rew season's, \ are — 4s to 4s 4d per stone; old season's are I quotsd at 3s to 3s 4d. A marked improvement ! is reported in the market for New Zealand beef, j owing, no doubt, to the scarcity of the meat [ of that class. Hindquarters are quoted from 3s to 3s 3d, and foiequarters from 2s to 2s 2d. The National Mortgage and Agency Company remark thai, in consequence of the cold weather the demand for frozen rabbits has been good, and as supplies are by no means heavy Inner prices have been obtained. Arrivals have included about 8330 crates from IS'ew Zealand. The following are the current prices for New Zealand rabbits of reliable biands —Selected, 3lb and up, lOd each , large, 2Jlb and up, 9d to 9£d each , young, 21b to 2Ub, 8d to Bjd e-ich , small, 6id to 7\d each , ?Md each is the top price at present for Australian rabbits DAIRY PRODUCE. Messrs Weddel report thai the short supplies of Australian butter now arriving, owing to the excessive drought in Victoria and New South "Wales, is stiffening the market very much, and values have again advanced another 2s per cwt. " Choicest " brands of both New Zealand and Australian butter are bringing 110s to 112s, •while " finest " realises 114s to lOCs. Since last week there have been ro arr-val= of New Zealand butter, but the s.s. Maori is due in a day or two with 37,000 boxe*. Mcssts Weddel go on to remark that the demand for Is pc-i lb retail butter is keener tl>nn ever, and the supply at present is very dericent. New ZeaSand " milled " butter of first Goverumsnt gr.ide Oi'as made 96s per cwt., and even more money is asked for the arrival which is expected hi the Maori. Regarding the new patent adopted by the INew Zealand Shipping Company for the discharge of cargo, to .vhich I have reieired on Gfevcral occasions lately, Me-srs Weddel write "The New Zealand Shipping Company have greatly improved the discharge of butter from their steamers hy the adoption of the endless chain and cradle system, which has been in use for about twe years An inspection of the new system at work on the s.s Tongariro the 'other day proved that each chain and cradle loaded fivei 1000 bo&es of butter per lioiur. s«

that if two holds were at work simultaneously, a vessel with the largest caxgo that arrives could be discharged in a day or a day and a-half. The .following significant sentence is added. "It is therefore a great pity that in loading the Tongariro the butter was so badly stored, by being mixed among the frozen meat and i frozen rabbits all over the ship, that instead '• of all of it being discharged in 36 hours, it took over seven days. j As for New Zealand cheese, Messrs Weddel say that the arrivals tli!3 season are very small I in comparison with last year. The following are the quantities shipped for each of the last three seasons up to the middle of February — 3899-1900, 26,833cwt, 1900-1901, 46,822cwt; 1901- j 1902, 18,000cwt. The New Zealand Loan and | Mercantile Agency Company say that the in- ' quiry for New Zealand cheese has ruled steady t at about late rates, the quotation being 47s to 50s per cwt. Regarding butter, the same company s.a>s that during the past three weeks there has beei. only a moderate demand for, finest New Zealand and Australian, but with a falling off in arrivals it has been possible to obtain more money, prices at the close ruling ficm 105s to 110s per cwt. Fine descnptions are worth from 101s to 106s, while secondary, ' foT which there is an active inquiry, ranges from 94s to 1023 per cwt. The official quotation for Danish butter has been raised 4 kroner, ] and now stands at 112s to 114s per cwt for finest. MISCELLANEOUS. It is stated in the report of the New Zealand , Loan and Mercantile Agenc-y Company that tho market for cocksfoot has beer, inactive lately, but prices keep very steady, 111 sympathy with recent reports horn New Zealand, to the effect that values are expected to be higher owing 10 a short crop consequent upon a dry season. Stocks in London are only moderate, and the value for 13lb bright ssed is about 423 6d per cwt, ex warehouse. There is some inquiry for ] the new crop, but very few offers are being made at present. | The National Mortgpge and Agency Company reports that on the spot both New Zealand and j Australian wheat meet with a slow sale, tha former be:T-g quoted at 29s to 30s for long- J berried, ai.d at 23a to 23s for shoit-berried. Beans are firm ai unchanged rates. Cocksfoot ! meets v.-ith little more inquiry, and prices are , Tather better, the quotation being 36>3 to 42s per 1121b net. The National Mortgage and Agency Company say that at the thiee public auctions of tallow most recently held seme 2250 casks were offered, of which 565 were d'sposed of. Although the statistical position has remained fairly stiong, buyers have evinced very little disposition to operate at the high values current, and consequently the business transacted both on the spot and for anival has been soiall. Spot prices mark a decline of 2s per cwt. The ship- \ ments from Australasia during January weie advised as 4iOO tens, as compared with 4200 tons for the same month last year. Imports , for the pa«t three weeks hsve included 1279 j cisks fiom New Zealand. Stocks of all soils ; in warehouse vi London on the 31st ult. weie 6078 casks, as ag.nnst 6489 for the previous month, 20 285 n 1901, and 14,261 in 1000. Tho following are the quotations per cwt for New Zealand tallow —Mutton —Good to fine, 35s to ;J8 3; fair to good, 30s 6d to 335, common, 29s to 303, low and mixed, 27s to 26s 6d. Beef— Gocd to fine edible, 32s to 345, fair to good, 30s to 31s 6d; common, 28s to 29s 6d. I New Zealand flax is said by the New Zoa- j land Loan and Mercantile Company to have attiActed considerable attention during the past three weeks, and a fairly large bus.ness ha 3 been do.ie on c>i.f. terms at advancing prices, the use now being about £4 per ton for spot and fully £3 per ton for more distant positions. Spot business has boon restricted owing to scarcity of supplies. The stock is now about , 300 tons, against 1250 tons at the £.ame time , last year. Present values may be quoted thus Spot, £38 10s to £39 per ton ; December-Feb-ruary, £37 10s; Januaiy-March, £37; MarchMay, £36 10s, Apnl-Junr>. £36, June-August, £35 per ton. The National Mortgage ar.d Agency Company's report oa New Zealand flax notes that a continued fall'ng oft in the supplies of . Manila — particularly of the lovor grades —has • brought about an active demand for New Zealand, and prices have advanced in all positions £3 to £4 per ton. On spot business has been limited owing to scarcity of supply, sslcs would probably amount to 300 or 400 bales at £37 to £39 p?r ton. For arrival the turnover, ) chiefly from second hands, has been very large — quite 1500 tons. Values close at the best. In the same report information is given to the effect that at the last "ale of rabbitskins . New Zealand was represented by 454 bales, I comprising a full pimply of prime winter skins of good selection. Thesf were in strong request j at id to Id advance. Off-sea=on ard medium qualities were also 5d to Id dparer, while cumir.er j and damaged brought firm prices; small and I surkeis maintained high rates. Silver grey and j back, suitable for furriers, with few exceptions, j luled slow of sale at easy valuos. ' As it is row between seasons, arrivals of , salted New Zealand pelts are very small, and 1 the quality generally is nooi. The National Mortgage and Agency Comcany continue to say that tanners complain that pricf- arp too high. But the demand is equal ■ absorbing the supply available »t fully late rates. There is a speciai'y strong demand for hrht sprcady pplts. At the last nubhe salfM of basils, when 12,843 skinn were offered P'v] 12.143 were sold, ihe demand was strcnp, ard b^st qualities pod at firm rates, whi'f greosy descriptions wcrp Jd per lb dearer. The next sales will bp held 1 on the 2Pth irst. Nine hundred and eighty-two j sido3 of leather wprc pold <\t the last auctions j out of 2063 sides offered Thero w«b a fair t^nde at firm tirices, esoeciallv for Wellington shipments, th" quotations being —Best tannages, 13d to lnd per lb. fair to gocd sides, heavy, 9<d to 1U ; do heht, 9id to lO^d . do ox heavy 7id to BJd . seconds, fid to 9d. Tlip next sale of leather will take place on th<> 2fith irst.