COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3040, 19 June 1912, Page 22

COMMERCIAL CABLEGRAMS.

LONDON, June 11Wheat: Six Australian cargoes have been sold ut prices ranging from 39s 7£d to 40a 6d. Tho Argentine meat shipments, ore as follow :—Mutton, 178,196 carcases; lamb, 89,y05 carcase*; frozen beef, 113,000 quarters ; chilled beef, 96,500 quarters. June 12. Wheat: An Australian cargo has been sold at 40s, and three others at 39s 9d. Banks: Australasia, £ll7 to £119; NewSouth Wales, £42 10s to £43 10s; Union, £SB to £6O. Now Zealand Loan and Mercantile Agency Company, £99. The American visible wheat supply is 571,118,000 bushels. June 14. The Bank of England returns show the stock of gold coin and bullion to be £59,612,000; reserve, £50,753,000; proportion of reserve to liabilities, 49.57 per cent. The notes in circulation total £28,786,000; public deposits, £22,230,000; other deposits, £39,787,000; Government securities, £14,155,000; other securities, £54,928,000. The bank rate of discount ie 5 per cent. Short loans are discounted at 2i per cent., and three months' bilk as follows :—London, 2J per cent.; Paris, 2| per cent.; Berlin 4 per cent. The following are the quotations for colonial Government stocks, compared with those ruling-a week previous:

The Bradford wool market is steady, and prices are unchanged. (Received Juno 14, at 9.50 p.m.) The wheat markets are firm, and are tending upwards owing to unfavourable reports regarding the winter crops in America. There is a strong demand, and cargoes for the United Kingdom and the Continent have been sold at from 40s 3d to 42s 6d. One thousand tons of South Australian realised 40e lid. Parcels of South Australian and Victorian, MayJune shipment, have been sold at 38s Bd. The spot trade is flat. Australian, 41s. The flour market is firm. Australian patents, 28s 3d. The oats market is steady. La Plata, May-June shipment, 17s 6d. Butter: Colonial is dull. A fair quantity is being discharged, but buyers are taking Trish and Siberian, which is plentiful. Prices are unchanged. Danish is easier, being quoted at 120 s to 1225. The cheese market is quiet. New Zealand, 73s to 755. June 15. Wheat: An Australian cargo has been sold at 41* 3d. The copra market is active. South Sea bags, £24 10a • •• Cotton: June-Julv shipment. 6.46£d. Hemp and jute are unchanged. i Rubber, 4s lOid.. 3 Rabbits: There is nothing doing. ? Frozen meat: Reliable quotations are impossible-

SYDNEY, June 12. \ Wheat: 4s 2d to 4s 2*d was offered, but | holders want 4s 3d. -.-„ June IT. lite wheat market is hardening. Buyers are offering 4s 3d, but 4s 4d is wanted. LONDON SHEEPSKIN MARKET. LONDON, June 14. At the sheepskin sales 3450 bundles of Australasian were offered. There .was a good attendance, and animated bidding. Merino combings and clothings were i<i dearer, and croasbreds were id dearer ail round. The New Zealand Loan and Mercantile Agency Company is in receipt of the following cablegram from its London omee regarding the London sales, which opened on the 13th inst.:—" Merino combing ga, merino clothing id, and crossbred sheepskins mostly 4d dearer. Crossbred lambskins unchanged. Romney Maish Wool. TO THE EDITOR. gtß,—ln your issua dated June 12 your report on the wool grown in the Pomahaka Valley, and exhibited at the late Winter Show, was as follows:—"The next two bins were Romney Marsh wool, classed first and second, etc. This was a particularly fine exhibit of heavy fleeces, which were also grown in the south, 151 b to 181 b in weight. Wool of such, high-class character and lustre can only bo produced in the valley of the Pomahaka." The above statement is not according to fact. The East Coast of NewZealand produces Romney Marsh wool of equal, if not superior, type. Several wellknown clips usually sold in London are grown on the East Coast (i.e., Tokomaru, Hiku Titi, Bee). These wools have realised high prices for many years; 164 d per lb has been paid for greasy wools—i.e., Romney type. Last January (in 1912) tho top price realised in London for New Zealand wools was Is 3d for 25 bales of fine orossbred marked Tokomaru. —I am. etc., David Heffernan, Wool Expert. 11 Kaikorai Valley road, Dunedin. DtJNEDIN MARKETB. WHOLESALE PRODUCK REPORTS. Lindsay and Columb. Princes street south, report under date the 18th inst.: Wh»at per bushel. per ton Best millins 3/10-:t/U Oaten chaff Medium do 3/rt-'3/9 Prime 70/0—72/6 Fowls' ... 3/3—3/« Medium 60/0-60/0 Milling oats 2/ J-?/3 Ryegrass and clover Feed oat* ... 2/o—2/2 hny ... 75/0 Malt barley ... 4/9 Straw: Feed barley f/6-3/0 Wheaten 2. /0 -£7/6 Capebarlev ... 4/3 Oaten.. 27/6-30/0 Maize ..'. ... 5/H Onions, ftood 190/0 -200/0 (Canterbury) per ton. Rolled bacon ... 10d Flour, in 200's ... 175/0 Side bacon ... 9ii Flour, in 50'8 ... lt-5/0 Smoked hams ... 101*1 Pollard KO/ Cheese 7ld Bran 95/ Salt butter IOJd—UJd Oatmeal, in 25'* 270/0 (accordine to quality) Pearl barley .. 280/0 Kggs, fresh \/«—1/7 Potatoes.—The market fully supplied. Prices eh w a drop of 5s to 7s 6d. Prime, £1 15s; medium, £4 to SA 10s, according to quality. TAJIK AKD DAIRY PRODUCE. Messrs Irvine and Stevenson. George street. TenoTt payir.r for nrpducr birinsr the week ending the 18th inst., as follows: Fresh eggs. Is 7 1 d<>z I Sep-trator butter, 11 id Salt butter Vunt buying I peri' Fresh butter, eood ordinary (in lib and Jib prints), 9d to lid per lb. Pigs, 1801 b to 1601 b, 5Jd. Honey, sd. Fowls, 3s to 3s 6d (boilng). Potatoes, £5 10s per ton. THE HIGH COMMISSIONER'S CABLEGRAM. WELLINGTON, June 17. The Hijgh Commissioner cables, under date 15th June (quotations, unless otherwise specified, are average markot prices on spot): The general strike is subsiding. Many of the men are returning to work, and business is apparently improving. Mutton.—Market steady. Canterbury, 4id; North Island, 4d. Lamb—Market firm, but expect prices will decline when larger supplies become available. Canterbury, 6Jd; other than Canterbury, 6|d. Beef.—Market "quiet; supply exceeded the demand New Zealand hinds, 4£d; fores, 3fd. OAMARU MARKETS. (From Odr Own Correspondent.) OAMARU, June 16. A fair amount of business has been dono in wheat during tho weok, but on a slightly lower basis of values. Transactions nave, however, for the most part been restricted to ccmpa.rative!y small lines. The largest deal reported is one of 800 sacks of mixed Tuscan and velvet, tho former predominating, at 3s 8d net at a country station. Other mixed lines, including velvet with red wheat, have changed hands at the same money. For velvet alone the general price at country

stations has been 3s 8d net, the sales on the terms stated including one of 600 sacks, but a line of 700 sacks changed hands at 3s B£d, less commission, at a country station. Tuscan has been bought at 3s 7£d and 3s 8d net,- and 3s B£d, less commission, all at country stations, the chief transaction being a line of 520 sacks acquired at a South Canterbury station at 3s net. A line of 600 sacks of red chaff changed hands at 3s Bd, less commission on trucks. Other business in this variety was done at 3s 7£d and 3s 8d net at country stations. There has been a distinct decline in the value of oats, the chief cause being the fact that Melbourne buyers for forward delivery are now unloading, or, at any rate, offering oats in northern purchasing centres at Id below the quotations of southern shippers. Whether this is bona fide business, induced by the good rains in Australia or an effort to "bear" the New Zealand market, remains to be seen. In the earlier part of the week some business was done here in A grade Gartons at 2s 2d, in B grade at up to 2s l£d, and in C grade at 2s; but since then prices have receded, and A grade Gartons have been sold at 2s Id net, and B grade at 2s and 2s Ojd net, all at country stations, the chief transaction being one of 600 sacks of B grade at 2s. A parcel of Danish was sold at Is lid net at a country station. Business in potatoes is very slow, and tho transactions are few and small. Choice table Up-to-Dates have been taken at £4 net on trucks, but £3 15s has been accepted in one instance. SOUTHLAND MARKETS. (From Oub Own Correspondent.) INVEROARGILL, June 16. In consequence of the welcome rains in the Commonwealth oats have an easier tendency, and Southland merchants have reduced ther selling prices by id per bushel. It is felt, however, that this reduction will probably be sufficient to meet the altered conditions, as not only will the demand continue in Australia till the grass grows, but there is a fair inquiry for shipment to London, and it is probable that freights , will be obtainable next month. Already a large proportion of this season's ! oats has found its way to port, over : 400,000 sacks having already been carried. The attitude of farmers is very strong, many of theu declining to accept reduced prices. Merchants, however, have to exercise caution, and consequently are not offering farmers over 2s 4d on trucks today for A grade Gartons, other grades being proportionately less { Tlra potato market continues about the same as last week, and there is a fair de- ; mand -for potatoes for which the necessary declaration can be made to admit them to , the Sydney market." Uncertified potatoes | are somewhat of a drug at the present time. It is probable that £4 per ton could bo obtained for certified lines in new sacks, but where owners decline to sign the declaration about £3 10s on trucks is all that buy ere are offering. The local chaff market continues firm, but supplies are coming in moro freely. Merchants will offer only from £3 5s to £3 10s on trucks at country sidings, provided the railage is short. The hemp market Continues firm and unchanged, but higheL' prices will probably be offered in tno spring if the present drought in the Philippine Islands continues. Ryegrass continues the same as last week. For a lino of velvet wheat in the Waimoa Plains one firm of millers is reported to have offered 3s 9d on trucks, but the quality could hardly be called first-class. There exists a good demand for fowl wheat for shipment to_ the North Island to take the place of maize, which was a poor crop this season. GRAIN AND PRODUCE SALES. Messrs Donald Reid and Co. report:—We held our weekly auction sale of grain and produce on Monday, when values ruled as under:—Oats.: Owing chiefly to a decided' slackening in the Australian demand the market has received a check, and sales can only be mado at a reduction on late quotations. Prime milling, 2s 3d to 2s 3Ad; good to best feed, 2s 2d to 2e 3d; inferior to medium. 2s to 2s Id per bushel (sacks extra). Wheat: The market is still in a : quiet state. Millers are not disposed to J operate freely in the class of wheat offorI ing, which is mostly of medium quality. | Prime samples, however, are readily taken | up at quotations. There has been a steady demand for fowl wheat, good whole wheat ' preferred. Prime milling velvet, 3s lid to 4s; Tuscan, etc., 3s lOd to 3s lid; medium, 3s 7d to 3s 9id; best whole fowl wheat, 3s 5d to 3si 6ia; medium, 3s 3d to 3s 4d; broken and damaged, 3s to 3s 2d per bushel (sacks extra). Potatoes: The past week has been a quiet one so far as first sales are concerned, although considerable shipments of earlier purchases have been made. Buyers are inclined to complete delivery of late orders before opening new business; and on this account sales are at present restricted. Prime table potatoes,

£4- 15s to £5; medium to good, £4 5s to £4 10s; good seed line* have some inquiry at £5 to £5 10s per ton (sacks included). Chaff: Prime oaten sheaf continues to be in most favour with buyers, and sells at £3 12s 6d to £3 ISs. The market is oversupplied with medium quality, which has slow sale at £3 to £3 10s, while light and discoloured is difficult to place at £2 10s to £2 15s per ton (bags extra).

Messrs Dalgety and Co. report as follows:—We held our weekly auction sale of grain and produce on Monday, when prices ruled as follows:—Oats: The market remains quiet, and in order to effect sales lower values have to be accepted. Owing largely to the fact that the drought has broken in Australia, shippers are not prepared to operate at late ruling rates. Prime milling, 2s 3d to 2s 3id; good to best feed, 2s 2d to 2s 3d; medium, (2s Id to 2s 2d; light and discoloured. Is 10d to 2s per ton (sacks extra). Wheat: The bulk of the wheat coming to hand during the past week has been from the south, very little of which is in milling condition, and a large quantity of it is finding its wav into consumption as fowl wheat. Prime milling velvet, 3s lid to 4s; prime milling Tuscan, 3s 10d to 3s lid ; medium milling, 3s 8d to 3s 9d; best whole fowl wheat, 3s" 5d to 3s 6d; broken and damaged, 3s upwards per ton (sacks extra). - Potatoes: Consignments of late have not been so heavy, no doubt owing to the broken weather experienced during the past week interfering with digging. Prime tables are in good demand, while frosted and badlyEicked lines are neglected, and low values ave to be accepted in order to make a speedy clearance. Prime table Up-to-Datea in. good shipping sacks, £4 15s to £5; medium to good, £4 5s to £4 10s; frosted, stalo. and inferior lots, £2 10s upwards per ton (sacks in). Chaff: The market is barely supplied with prime quality, the bulk of the chaff arriving being light and more or less damp and discoloured, and as there is already a large quantity of this chaff in the market it is not so readily placed, while prime heavy oaten sheaf is in good demand at the »following prices:—Prime oaten sheaf, £3 15s; medium to good, £3 5s to £3' IDs; light and discoloured, £2 10s to £2 15s. RABBITSKIN SALE. The National Mortgage and Agency Company of New Zealand report having held their usual weekly sale of rabbitskirrs on Monday, when they submitted a medium catalogue to the usual attendance of buyers. Bidding was very keen throughout, especially for prime lots, which brought up to 33Jd for super, winter does, which is top price this season. Prices ruled as under: —Super, winter does, to' 33|d; winter blacks, to 29d; other lots selling equally well. HIDE SALES. MELBOURNE, June 13. . At the hide sales to-day there were fair supplies and good competition. Prices were unchanged, but heavy-conditioned lots were irregular. STOCK SALES. Messrs Stronach, Morris, and Co. report having held their monthly sale at Evansdale on Tuesday, when there was a very, large entry of cattle. There was a good attendance of buyers, and bidding was very brisk, everything being sold at very satisfactory prices. Dairy cows brought from £4 10s to £5 15s; dry cows, from £2 15s to £4; heifers. £3 Is to £4 10s; gtoers, to £A 3s; bulls, from £3 15s to £5 14s They also report having held a sale of Mr H. Bland's dairy cows at Waitati on the same day. These wore an exceptionally food lino, and were eagerly sought after, he highest price was £lO ss, others bringing £9 15s, £8 2s 6d, £7 7s 6d, and £7, down to £4 17s 6d for late calvers. SALE OF SHOW EXHIBITS. The Otago Farmers' Co-operative Association of New Zealand (limited report:— We held our annual sale of Winter show stock on Thursday, when we offered and sold, on account of Mr Hugh M'lntyre (Owoka), 1 bullock at £l7, and one bullock at £ls ss; on account of Messrs Elliott Brothers (Dunedin), one bullock at £l7 15s, one bullock at £l6 10s, one bullock at £l4, one bullock at £lO, one heifer at £lO, 1 cow at £lO ss; on account of Mr William J. J. Charters (Ury Park), the Highland bullock (used for the guessing competition) at £ls; orr account of Mr James Carruthers (Maungatua), one bullock at £lO ss, one heifer at £l2, one heifer at £ll 15s: also on account of Messrs Begg Brothers (Pukeawa), three hoggets at 28s 6d. CLEARING SALES. Messrs Wright, Stephenson, and Co. report as follows: —We held a very successful clearing salo at Cattle Flat, Balfour, on Wednesday, on account of Mr W. M. Hailes, who has disposed of his Riverslea property. The day was very wet, but there was a good attendance of buyers from all the surrounding districts. Mr Hailes brought everything forward in excellent order, and the stock, especially the sheep, were a tip-top lot and a credit to their breeder. Following are some of the principal sales: —4B2 three-shear ewes, 16s 3d ; 211 two-shear ewes, 17s lid; 124 two and three-year-old ewes, 14s 7d; 359 two-tooth ewes, 15s sd; 325 ewe lambs, 14s sd; 30 cull wethers, 13s; 90 eight-tooth ewes, 12s; 43 cull ewes, 7s lid; 64 fat wethers, 17s 3d; 30 rams, 8s 3d; two bullocks at £9 10s; cows, £lO 10s, £ll, £lO ss, £7, £5, £5 10s; three pigs at £2; bay mare, seven years, £35; gelding, fivo years, £27; gelding, six years, £33 10s; mare, eight years, £24 10s; gelding, eight years, £l7 10s; gelding, five years, £26; spring-cart gelding, five years, £l7; gelding, seven years, £l9 10s; "gelding, four years, £ls; gelding, five years. £3l 10s; aged mare, £6; aged mare, £7 10s. Implements, sundries, and household furniture realised full market value. The Otago Farmers' Co-operative Association of New Zealand report:—We held a most successful tale of dairy cows, horses, and implements for Mr C. Goodlet at his homestead, Momona, on the 11th. There was a large attendance of farmers from the surrounding districts, also Milton and Dunedin. Spring calving cows brought up to £7. The horses, which were all in good trim, fetched full late values, and the implements sold proportionately well. OTAGO FARMERS' HORSE BAZAAR. The Otago Farmers' Co-operative Association" of New Zealand report:—We had a capital attendance of 'buyers at our sale on Saturday, when we offered 50 horses of all classes. Included in the entry were several good sorts of Clydesdale fillies and

geldings from the country, and these were only fairly well bid for, but, notwithstanding a dullness in the market, they changed hands at satisfactory prices. Harness horses of good quality were also subjected to good competition, and of those offered a fair number changed hands to the satisfaction of buyer and seller. The country consignments camo from, the Maniototo, Merton. Henley. Stirling, Peninsula, and the Taieri. We quote: Good young draught mares, at from £3B to £45; extra good Clydesdale mares, suitable for stud purposes, £4s* to 80 guineas; superior young draught geldings, fit for shaft and lorrv work, £3B to £4B; extra, to £55; ordinary draught mares and geldings, at from £2B to £3B; aged draughts, at from £lO to £2O; good strong upstanding yannens, a-t from £26 to £33; heavy spring-carters, at from £2O to £27 10s; ordinary springcarters, at from £ls to £2O; upstanding buggy mares and geldings, from £l6 to £25; hackneys and cob ponies, from £8 to £ls.

PROPERTY SALES, Mr George M'Mullen, land and estate agent, reports having sold section 2, block I, Roslyn Extension; also the residence of Mr A. Boyd, Alpha street, to Mr G. M' G. Thomas; also, Mr Hugh M'Coil'sßrighton farm of 40 acres, with stock, etc., as a going concern, to Mr John Corbett. Earlier in the week we reported an unsuccessful auction of part sections 2,3, 4, and 5, block XXIV, Dunedin, containing 1 rood 4.8 poles, fronting Royal terrace, with entrance also from London street, with modern residence thereon, being the property of Mr D. G. Davidson. We understand that Messrs Park, Reynolds (Limited} have now completed a sale privately to Dr Malcolm at a satisfactory figure.

Messrs Donald Reid and Co.'s Milton agency reports on having' sold, in .the estate of the late Mr Geo. Heads, the valuable farming property of 208 acres, adjourning Milburn Railway Station, and recently occupied by Mr Jno. Heads. The purchaser w Mr .Tames Wisely, of Milton, who en,ters into possession forthwith. At their rooms on Saturday Messrs Park, Reynolds (Limited) offered two farms for sale by auction, there being an excellent attendance of the public. Tho first property was in the estate of William Warren, and comprised allotments 25, 26, 27, 28, and 29, Mount Cargill Estate, and section 16. block XII, North Harbour and Blueskin district. The' farm, which is situated some foumiles from Waitati, contains in all 138 acres 3 roods 5 poles, and after fair competition was sold for £4- 10s per acre. The other farm, which was situated at Mount Cargill, contained 142 acres, and was not sold, the beet bid being £2 10s per acre.

June 7. June 14. Now South Wales 4's ... 1034 103 New Ecuth Wales 34's . New South Wales 3"s ... 984 .. 86 984 86 Victorian 4's ... 1034 1034 Victorian 34'» ... 96 96 Victorian 3's ... 82 83 Queensland 4's ... 1004 1006 Queensland 34's ... 954 954 Queensland 3's 83 83 South Australian 34's ... 974 96 South Australian 3'* ... ... 81 794 New Zealand 4's ... . ... 1024 102 New Zealand 34's ... 95 95 New Zealand 3's ... 854 851 Tasnmpian 34's ... ' 944 934 Tasmanian 3's •••„••■ 84 0** West Australian 34 s ... 944 94£ West Australian 3's ... 86 86