COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3333, 30 January 1918, Page 13

COMMERCIAL CABLEGRAMS.

lONDON, January 24. Bank of England returns: Gold coin and bullion in stock, _ £57,783,000; reserve, £32,142,000; proportion of reserve to liabilities, 19.33 per cent.; notes in circulation, £45,223,000; Government deposits, £41,815,000; other deposits, £124,440,000;. Government securities, £56,840,000; other securities, £95,214,000. Discount on short loans, 3§ per cent.; three months' bills, 4, per oent. Consols, £54 15s. War loans, 3£ per cent., £B6 10s; 4 per cent., £93 10s. Quotations for colonial stocks, as compared with those for the previous week: —

t 1920-:iO currency. Tin.—Spot, £299 15s; throe months, £296 15s. Silver: 43§d. per oz. Other metals unchanged. Orient Steams dividend, 15 per cent. Wheat.—Cargoes are at a standstill in the absence of offers, and little is offering on spot except new Manitobas. Flour. —A small quantity of oversea 3 flour was quickly sold at full rates. Oats, beans, and peas have a hardening tendency. Sugar is unchanged. January 26. Rubber: Para, 2s 7|d; plantation, 2s 3|d; smoked, 2s Z{d. | Hemp: There is a fair demand at Government rates. New Zealand ox and cow hides were offered at auction, and 2066 were sold. Salted brought ll|d; brined, Is s£d. DUNEDIN MAEKETS. FABM AND DAISY PBODUCS. Mr B. J. M'Abthub (successor to Messrs M'llroy Bros.), George street, reports paying for produce during the week ending the 29th inst., as follows: Stamped fresh Eggs I Hoi; 6y (i lb pat), 3/6 1/4 doa Honey (bulk), 5Ju lb Salt Butter, 1/1 lb I Honey (section), 7/6 doa Sep. Butter, 1/-lb I Honey (Cartons), lib, 6/- | "21b, 15/- doa | Beeswax, 1/8. Compressed yeast, 8d packet. HIGH COMMISSIONER'S REPORT. WELLINGTON, January 28. The High Commissioner reported as follows on January 26 (the quotations, .unless otherwiso specified, are tho average market prices on spot):— Meat. —Owing to a short supply, all descriptions of meat are in active demand at full prices. There is a limited amount of Now Zealand and Argentine lamb at the market, and it is selling at ll|d. With reference to my telegram of December 29, imported offal is eelling at the maximum prices as before, with the exception of the following amendment: —Ox livers and hearts, boneless beef, sheep and lamb tongues, lOd, 9d, 13d, and respectively. Butter and Cheese. —The market is un-

changed. A small supply is selling at maximum prices. Hemp.—Manila and New Zealand show no change since last report. The market is quiet, and small business is doing. Wheat.—The market is very quiet, and there is nothing doing owing to the absenco of offers. The official quotations have not been altered. Oats.—Tho market is quiet, and there is no alteration in prices. THE OAMARU MARKETS. (From Our Own Correspondent.) OAMARU, January 26. Weather just about perfect for harvest purposes has been experienced all this week, and great progress has been made with tho work. Tho nulls havo everywhere been busy thrashing oats, with varying results, some yields tailing much below expectations. Cutting of wheat has now commenced, and will be pretty general in the , incoming week, but it will be about a fortnight before thrashing of this cereal will bo entered upon in earnest, though some crops may reach the mills earlier. Samples of oats have been coming on the market a little more freely during the week, tho first of the Gartons having been submitted, in addition to the earlier Algerians, and, generally speaking, the samples of both varieties may be pronounced good. Small sales of Gorton's to fill early orders have been made at 3s 4d net, on tracks, but this is above tho level at which the market is expected to open, which is anticipated to be 3s- 3d, or a shade under, for A grade. Algerians, which are likely to be fairly plentiful, are - worth from 2s 9d to 3s ■ net, at country stations. Some malting barley submitted during tho week w r as of only fair quality, being off colour, while samples of Cajie barley offered varied widely in quality, some being affected by smut. Tho value of good quality is set down at' 4s net, at country stations. A fair quality sample of ryegrass seed was sent during the week, and proved bright and clean, but this cannot be accepted as a criterion of the whole. SOUTHLAND MARKET REPORT. (From Odr Own Correspondent.) INVERCARGILL, January 25. As far as Southland is concerned, oat crops are looking splendid, and a good harvest seems now to oe assured, but the acreage in oats is undoubtedly very limited, crops being few and far between. Although oats this season reached what are generally considered to be high rates, a good number of growers of this season's crops have made up their minds .to hold for chaffing, in view of the shortage of the crop and owing to the fact tha't chaff has been at relatively higher rates than oats. If this course is adopted by the majority of the growers, there does not seem much probability _of 'the few oats that are held in store receding in value to any extent During the week sales havo been made of A grade Gartons up to as high as 4s Id f.0.b., e.i. The few holders of chaff refuse to sell at the prices merchants are offering. They are undoubtedly busy with harvesting operations', and may be induced- to sell on the nearer approach of the new oat crop. Merchants' ideas of values are £6 5s for prime quality on trucks at handy sidings, but farmers hope for better prices. There is a big yield of ryegrass this year, as not only are farmers harvesting paddocks shut off for that purpose, but a considerable acreage has been reaped by the "binder, which the owners have not previously had any intention of saving for seed. This has been possible owing to the abnormal growth of grass in Southland during the past two months. the heavy yield, good payable prices are anticipated by farmers. GRAIN AND PRODUCE SALES. Messrs Donald Reid and Co. report: — Oats: A few samples of the new season's crop have mado their apjpearance in the local market, but thrashing is by no means general ,and no volume of business can be expected for a few weeks. The few lines offered are chiefly good Gartons, and have been placed at 3s 4d to 3s 6d per bushel on trucks at Taieri stations. There are still a few lines of last season's oats in stores. The demand for these is not keen, and'only occasional sales can be made. Prime milling, 3s 9d to 3s lOd; good to best feed, 3s 7d to 3s 8d; inferior to medium, 3s to 3s 6d per bushel (sacks extra). Wheat: None offering. Potatoes? Supplies have been arriving more freely during the past week, and values are a shade lower. Best freshlydug lines are offering at £5 to £5 10s per ton (sacks included). Chaff: Most of tho consignments coming forward are of medium quality. As these are arriving to a bare market tney are saleable ex truck, _ although tho demand is chiefly for prime quality. Best oaten sheaf, £6 15s to £7; choice, to £7 ss; medium to good, £5 10s to £6 10s; light and discoloured, £3 to £4 10s per ton (bags extra). Ryegrass: Thrashing of the new crop has now begun, and a few lines have already been placed in the local . market. Best samples, clean and heavy, are in most demand, and have sold with good competition at 3s 6d to 4s per bushel on trucks at country stations. * Messrs Dalgety and Co. report as* follows: —Oats: All bright heavy lines offering are readily sold on arrival at quotations. The quantity coming forward is not large, and stocks in store are light. Good stout short oats are also meeting a' good demand for local fowl feed requirements. Prime milling, 3s 9d to 3s 10d'; good to best feed, 3s 7d to 3s 8d; medium to good, 3s 3d to 3s 6d per bushel (sacks extra). Wheat: Practically no wheat, of any description offering. Potatoes: Supplies have been coming forward more freely of late, and recent values are not maintained. Unripe or faulty lines are diffioult to handle even at lower values, buyers showing a decided preference for choice freshly-dug lots. Best quality, £5 to £5 10s; others from £3 per ton (bags in). Chaff: Consignments of good quality . are not heavy, and all lots of this description

meet ready sale. Medium quality and light lines are more plentiful, and being out of favour with buyers arc more difficult to place. Choice quality, £7 to £7 ss; good oaten sheaf, £6 10s to £7; medium quality, £4 10s to £5 10s; light and inferior, from £3 per ton (sacks extra). SALE OF ROMNEY AND LINCOLN RAMS AND EWES. The selling brokers, comprising the Wairarapa Agency Farmers' Co-operative Association (Limited), Dalgety and Co. (Limited), New Zealand Loan and Mercantile Agency Company (Limited), Wright, Stephenson, and Co. (Limited), and A. J. Cooper and Co. (Limited), report having conducted a sale at the Masterton. Showgrounds as under:— The total catalogue comprised 100 stud Romney rams of one-shear with the exception of seven, 36 stud Lincoln rams, 70 oneshear Romney owes, and 55 one-shear Lincoln ewes. The attendance was very large and thoroughly rep'rescntativo of all breeders throughout the dominion, purchases being made from Southland to Auckland. Business at the auction, can be described as animated throughout. A fewsheep were certainly passed under the hamr mer, but the number turned out unsold was comparatively a small lot. The predominating feature of the sale was the quality of the sheep yarded, particularly the Romneys, and breeders were most complimentary in their remarks, several contending that a finer lot of sheep had seldom been put together at one eale previously in the dominion. The '"first 20 of the shearling Romney rams put through the ring averaged the satisfactory figure ofr 153 gs, and the 70 sold averaged exactly 80gs. The 69 shearing Romney ewes averaged lOJlgs, and a wellknown authority stated the result was probably a world's record for such a number of sheep from one individual breeder. Twentyone of the Lincoln shearlings averaged 57ijgs, and the 35 shearling Lincoln ewes averaged Bjgs. The facilities of the* pens and sale ring at the showgrounds could hardly bo improved upon. The whole of tho sheep were penned, ticketed, and ready for inspection by 6.30 a.m. The sale commenced punctually at 10 o'clock, and concluded at 1.20 p.m. The principal sales were as under: — Two-shear Romney Rams. —llOgs, 125 gs, and 126 gs. Shearling Romney Rams.—29ogs, 280 gs, 250 gs, 200 gs, ISOgs, 160 gs (3), 150 gs, 145 gs, 130 gs (2), HOgs (3), lOOgs (2), 90gs (2), 80gs (3), 75gs (2), 70gs (3), 60gs (6), 50gs (5), 45gs (7), and several ranging from 30gs to 40gs. Shearling Lincoln Rams. —170 gs, 120 gs, 95gs, 75gs, 65gs, 60gs, 50gs, and tho balance 30gs to 45gs. Shearling Romney Ewes. —Bgs to 17gs. Shearling Lincoln Ewes. —6gs to lOgs. OTAGO FARMERS' CO-OPERATIVE -ASSOCIATION. The Otago Farmers' Co-operative Association report: We held our usual weekly sale of horses on Saturday last. The entry was small, only 32 of all classes being entered. The quality of both heavy and light horses was very inferior, but a good number changed hands at low figures. There were a few buyers present for useful, clifty geldings, suitable for farm and town work, but as they were not able to make purchases suitable for their requirements they decided to attend our harvest sale on next Friday, February 1, when we shall offer about 100 horses direct from farmers. Quotations : —Young, sound, sharp, clifty geldings, £25 to £2B; extra heavy horses, £26 to £32; seven-year-old and over rhares and geldings, £l3 to £2O; and what is usually termed aged, £lO to £l2; vanners and spring-carters, £l4 to £2O; light sorts of harness horses, at fluctuating prices.

Jan. 17. Jan. 24 Viotorian 4's ... — ... x i)BJ 96J Victorian 3i's, ... X 85 85 Victorrian 3's ..." 62J 62 New South Wales 4'3 ... 82 821 New South Wales 3J's ... 100J 100i New South Wales 3J's t — 70 ' 70 New South Wales 3's ... 70J 70J Queensland 4's ... 01 91J Queensland 3£'s ... S8J89 Queensland 3's ... 61J61 New Zealand 4's ... 86| 86J New Zealand 3J's ... 72* 724 New Zealand 3's .' 63J 63i South Australian 3J's ... 71J 72 South Australian 3's ... 5GJ 57 Tasmanian 3A's ... ... 71J 71! 3's .,.. 64 65 Wftst Australian 3i's ... 74J 74J West Australian 3's ... . G9 69