THE BREADSTUFFS AND PRO. DUCE MARKETS. COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3805, 15 February 1927, Page 21

THE BREADSTUFFS AND PRO. DUCE MARKETS.

COMMERCIAL CABLEGRAMS.

Friday Evening. Values of milling wheat have eased during the week, but millers are still showing a reluctance to bqy. Advices from Canterbury state that the yields so far are above the average, and it is expected that increased returns will be the rule right through the northern province. It is too early yet to give a definite opinion regarding the quantity of wheat to be garnered in Otago, but it i 3 thought that excellent yields will also be obtained here. Business has been done in milling wheat during the week at from 5s 7d to 5s Bd, sacks extra, on trucks, country districts, according to railage. The market to-day, however, shows further signs of weakening. , Millers’ prices for flour are as follows:— 2001 b, £l7 15s; 100’s, £lB 10s,; 50’s, £lB 15s; 25 s, £l9 ss. Bran, £7 10s per ton. Pollard, £lO 10s. Oatmeal—2s’s, £2l; 200 s, £2O. Bowl wheat prices, prompt delivery, are round about those 'named for milling wheat. Forward prices are inclined to ease, offerings become more general. . £he shipping market for oats remains lifeless. Values for A and B gartons are still 3s 3d f.0.b., s.i., and 3s respectively, but these prices are occasionally broken to the extent of Id per bushel. Growers are not offering, but some of the southern merchants are endeavouring to quit their carry over of under-grade oats from last year and several parcels have changed hands at low figures. There is no change to record in the chaff market. Supplies are fully equal to the demand, which is not very brisk. With increased supplies coming forward the market is expected to weaken considerably. Prices for potatoes are irregular, and will not reach a basis till the middle of next month, when the main crops should commence to be available. Prices range round about £5 for ton lots, ex truck, Dunedin.

A certain amount of business has been done in new season’s perennial ryegrass and Italian and Western Wolths. Merchants are not keen buyers, and the prices offered to growers are only in the vicinity of 2s iv ul 2s 9 S I f°r.Perennial and Is 9d for olths and Italian. Not much business, however, is passing. Produce lines are quoted wholesale as follows: — Chaff to £5 per ton for best quality. ° Potatoes ton lots. £5 for best quality. Extra quality lines to £5 10s. Eggs, stamped. Is 8d; case. Is 7d. Dairy butter, milled bulk.' lOd to lid according to quality; pats, 8d to 9d . Bacon, Is 2d per lb. ■Ham, Is 2d per lb; boneless, Is 3d. Canterbury onions, Ils per cwt. FRUIT REPORT. Business has been brisk in the fruit market during the week, a good demand existing for all classes. Apricots and nectarines, in particular are in short supply and high prices are being realised. Plums are plentiful and prices low. A shipment of Raratonga bananas is due early next week, when prices should bo much easier. Fiji bananas are also due at the end of the week. Navel oranges are in short supply and prices high. y Raspberries and loganberries are about finished. Supplies, of tomatoes are increasing, but last week’s good prices are being maintained. Prices, however, should ease very soon. J . Vegetables of all descriptions have a poor inquiry. Current wholesale prices are as follow: Californian navels 40s per double case. Lemons.—Californian 30s to 35s per douole case. Bananas, ripe, 30s to 35s per case. Raspberries 8s to 9s pe r bucket. Loganberries, 7s 6d to Bs. Plums, ljd to 2£d per lb. Nectarines, 6s to 8s per half case Christchurch tomatoes, Is to Is 3d; seconds, 10d to Is: local hothouse, Is Id to Is 3d. Cucumbers, 7s to 10s per dozen. Pears, 5s to 6s half case. Apricots: Crates. 6d to 8d; cases, 4d to 6d per lb. Peaches, 6s to 7s per half case; crates. 4d to 6d per lb. Cauliflowers, 5s to 6s per sack (choice only); others, 3s to 4s. Green peas, IJd 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 two dozen; others, Is to 3s. Spring onions, up to 4d pe r bundle. Lettuce. —Choice, to 3s per dozen. Parsnips and carrots, new season’s. Is per dozen bunches. Broad beans, Id to lid per lb. MERCHANDISE MARKET. The Waipiata, with sugar, is expected to arrive from Auckland to-morrow. Reductions in price in all sizes of Oto and Oatina are reported. All Thistle products have been reduced in price. Crown macaroni and vermicelli have been reduced by 3d per dozen. A reduction in the price of Harraway’s rolled oats is also reported.

Overalls and rolled-up sleeves gave a business-like air to a woman who was working on a motor truck in St. Hill street the other day (says the Wanganui Chronicle). Passers-by were interested to observe that she handled heavy bags of superphosphate with greater ease and energy than many male labourers would bring to such work, and the scene was rather reminiscent of pictures taken in England in wartime when, women carried out strenuous outdoor jobs owing to the absence of so many men at the front.

LONDON METAL MARKET. LONDON, February 10. Copper: Standard spot, £54. 6s 3d; forward, £54 16s 3d. Lead: Spot, £27 7s 6d; forward, £27 17s 6d. Spelter : Spot, £29 10s; forward, £29 13s 9d. Tin: Spot, £3OB 2s 6d; forward. £295 17s 6d. Silver: Standard, 26 13-16 d; fine, 28 15-16 d per ounce. GOVERNMENT SECURITIES. LONDON, February 10. The following are the latest quotations for Government securities compared with tho prices ruling last week:—

BANK OF ENGLAND RETURN LONDON, February 10. The following is the Bank of England return for Wednesday;— Issue Department. Note circulation £136,969,000 Notes in reserve 31,724,000 £168,693,000 Government debt £11,015,000 Other securities 8,735,000 Gold coin and bullion 148,943,000 £168,693,000 Banking Department. Proprietors’ capital £14,553,000 Rest 3,610,000 Public deposits 14,720,000 Other deposits 105, Seven-day and; other bills ... 3,000 £138,511,000 Government securities £29,873,000 Other securities - 75,668,000 Notes in reserve 31,724,000 Gold and silver coin 1,246,000 £138,511,000 The proportion of reserves to liabilities is 27.30 per cent. Short loans are quoted at 4 per cent., three-month bills at 41 per cent. CHICAGO WHEAT MARKET. NEW YORK, February 12. Chicago wheat: May, 141 cents per bushel; July, 134 5-8; September, 132 3-8. VICTORIAN WHEAT. MELBOURNE, February 9. Fair average quality wheat for the 1926-27 season has been fixed at per bushel. .. .

LONDON MARKETS - LONDON X February' 10. Wheat cargoes are in alow 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 Ifd, 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 Gartons, 30s to 31s. 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 s to 1255; New Zealand, 110 s to 115 s. Beans: New Zealand, 46s to 4Ss. BUTTER AND CHEESE. LONDON, February 10. Butter.—Danish is firm and active at 1955. Other sorts are slow, and prices are unchanged. Cheese is dull. Australian coloured, 91s to 925; white, 90s to 91s; New Zealand coloured, 94s to 955; white, 93s to 945. LONDON MEAT MARKET. LONDON, February 12. Sheep: Canterbury: Light, none offering; heavy, 5 7-Bd. North Island: Medium 6 5-8 d; heavy, 6d. Argentine: Light, 5Jd; medium, 4Jd; heavy, 4Jd. Lamb: Canterbury seconds, 6Jd; North Island seconds, 9d; Australian thirds, 6 5-8 d; Argentine seconds, 6Jd. Chilled beef: Fores, hinds, 4Jd; others unchanged. LONDON SHEEPSKIN SALES LONDON, February 10. 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 halfbreds, three-quarters to fullwoolled, were par to 5 per cent, dearer; medium woolleds to 74 per cent., low sorts to 10 per cent., short-woolleds to 7i per cent., low sorts to 10 per cent. Short-woolled pelts and lambskins were difficult to sell, but prices were unchanged. LONDON TALLOW SALES. Messrs Dalgety and Co. (Ltd.) advise having received the following cablegrams from their head office dated February 10:— At the tallow sales 935 casks, were offered, and. 23 sold. Prices are unchanged except for inferior tallow which is 6d per cwt lower. MASSEY-HARRIS COMPANY. OTTAWA, February 9. News from Toronto states that the Massey-Harris Implement Company’s shares jumped 7 7-8 points to 84 7-8 points on a report that a United States syndicate had offered 50,000,000 dollars to gain control of the company. The Massey-Harris Company is now building in Australia. CALCUTTA TEA SALES. CALCUTTA; February 9. At the tea sales the offerings were'chiefly undesirable and stalky kinds. .The rates showed a decline of half to two annas. The average prices were: Commonest leaf, 6 annas 6 pies to 6 annas 6 pies; commonest broken leaf, 6 annas to 7 annas; ordinary common Pekoe Souchong. 2 annas to 9 annas; lowest even leaf Pekoe, 8 annas 6 pies to 9 annas 6 pies. Special prices: Broken Orange Pekoe. 11 annas to 20 annas 6pies; broken Pekoe 11 annas to 20

annas 6 pies; broken Pekoe, 8 annas to 14 annas 4 pies; fannings, Sannas to 14 annas 6 pies. SOUTH AUSTRALIAN LOAN. : LONDON, February 8. Subscribers to the South Australian loan were allotted 19£ per cent, of their applications. The dealings opened at par. t LONDON SHARE MARKET. LONDON, February 8. .Bank of Australasia £l4 2s 6d; Bank of New South Wales £47; Union Bank of Australia £l4 18s 9d; National Bank of Australasia 1755; National Bank of New Zealand 140 s 7d; Bank of New Zealand.stock £9O, shares . 57s 6d; New Zealand Loan and Mercantile, debentures. £73 10s, stock, £92.105. P. AND O. SHARES. ! LONDON, February 10. ’ * P. and 0. shares are quoted at £269.— PRICE OF FLOUR IN SYDNEY SYDNEY. February 9. lhe price of flour has been reduced by 5s to £l2 5s per ton of 20001 b. ' A AUSTRALIAN MARKETS. * SYDNEY, February 10. < Wheat, 4s 6d at country stations, equal to 5s ljd, ex truck, Sydney. Flour £l2 ss. Oats: Tasmanian White Giants, 4s 3d; / Algerian, 4s. Maize, 7s 6d. j Potatoes: Tasmanian, £l4 to £l5; Vic- i torian, £l4. Onions, .£7. At the wool sales the market closed witli animated competition, values being equal to the previous rates of the week. Keen competition continued in evidence for comebacks and crossbreds. Greasy merino fleece sold to 39d. I MELBOURNE. February 10. *4 At the hides market medium weights ' sold in sellers’ favour. Stouts and others were firm at late rates. ixips were again easier. .... . - ... February 11. Wheat, s«’ljd to 5s l.d, I* lour, ,£l2 10s; cash. 5s concession. Oats: Milling, 3s 33d; feed, 3s. 'Barley: English malting 4s to 4s 3d;' feed, 3s 4d to 3s sd; Cape, 3s 7d; foca. Potatoes. £8 10s to £lO 10s. Onions, £4 10? to £5. — ADELAIDE, February 10. Wheat: Growers’ lots 10s OJd to 5s Id? parcels, 5s 2d. Oats, 2s 4d to 2s 6d. THE BRADFORD MARKET. LONDON, February 10. The Bradford wool tops market is firm, with an upward tendency, and spinners are showing more interest. Quotations: 64’s quality, 46Jd; 60's, 43Jd; 56’s, 331<U 50’s, 25Jd; 46‘s, 20Jd; 40’s, 19Jd. SYDNEY WOOL SALES. " SYDNKY. February 9. At the wool sales the market was full,r

tqual to the best point of the week. Comebacks met with an exceptionally strong demand. Greasy merino sold to 344 d. COMPANIES REGISTERED. The registration of the fallowing companies is reported in the Mercantile Gazette : — United Farmers’ Manures (Ltd.). Registered December 16. 1926. Capital: £7OOO, into 7000 sharks of £1 each. Subscribers: Dunedin—G. W. Gibson 5000. Septimus ■ Owen 2000. Objects: To acquire and take over as a going concern the business of mixers of and dealers in manures for fertilisers now carried on at Dunedin and elsewhere by George William Gibson and Septimus Owen under the style of “G. W. Gibson and Co.,’’ and to carry on the said : business. British Electrical and Engineering Company (Ltd.). Registered as a private company December 21, 1926. Capital: £5500, into 5500 shares of £1 each. Subscribers: Dunedin—F. J. O’Neill 2450. E. M. P. . O’Neill 100. J. L. Milnes 500, A. A. Paape 2450. Objects: To acquire and take over as a going concern the business of electrical engineers and general retailers of electrical 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. 'As. compared with closing' rates of last >eries the following prices wjte received:— Superfine, merino combing, 5 per cent, to per cent higher; other descriptions, merino combing, 5 per cent higher.; merino rlothing, crossbred clothing, demand slow,

prices unchanged; fine crossbred combing, 5 per cent, higher, medium and coarse, 5 per cent, to 7 per cent, higher. SOUTHLAND FROZEN 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 11s 6d be carried forward.

■ • ' Last week. ' This Week £ b. d. £ s. d. Imperial Consols, 24 p.c. ••• 00 10 0 55 10 0 War loan, 5 p.o., 1929-49 ... 101 10 0 101 10 0 War Ioan, 3J p.o., 1925-28 ... 98 10 0 93 10 0 Conversion loan, 3} p.o. „. 76 7 6 -76 10 0 C’wealth. S p.o., 1931-41 ... 100 15 0 101 0 0 C’wealth. 5j p.c., 1922-27 ... 101 5 0 101 12 6 N.Z. 6 p.c., 1936-51 ... 106 10 0 106 7 6 N.Z. 4 p.c., 1929 ... 98 2 6 98 2 6 N'.Z. 3i p.c., 1940 ... 86 2 6 86 5 0 N.Z. 3 p.o., 1945 76 15 0 76 15 0 N.S.W. 64 p.c., 1930-40- ... 101 5 0 101 5 0 N.S.W. 6 p.c., 1930-40 _ 101 2 6 101 5 0 N.S.W. 5J p.c., 1922-32 ... 100 2 6 100 2 6 N.S.W. 4 p.c., 1933 ... ... 90 7 6 90 7 6 N.S.W. 3 p.c., 1935 ... ... 81 12 6 81 10 0 N.S.W. 3J p.c., 1930-50 ... 71 12 6 71 7 6 Vio. 5 p.o. 1930-40 ... ... 101 10 0 101 7 6 Vic. 4J p.c., 1932-42 ... ... 99 17 6 99 12 6 Via 4J p.c., 1940-60 ... ... 94 2 6 94 2 6 Via .3 p.c., 1929-49 ... 76 12 6 76 12 6 Vio. 3J p.c., 1929-49 ... ... 70 15 0 70 10 0 Q’land. 3 p.c., 1922-47 ... 101 5 0 101 10 0 Q’land. 3J p.c., 1930 ... ... 93 2 6 92 17 6 Q’land. 6 p.c., 1930-40 ... 68 10 0 67 17 5 S.A. 6 J p.c.. 1930-40 ... 102 2 6 102 2 6 S.A. 3J p.c., 1939 ... 82 17 6 82 12 6 S.A. 3 p.c., 1916 or after ... 59 5 0 59 7 6 W.A. 6 p.c.. 1930-40 ... 101 5 0 101 5 0 W.A. 31 p.c., 1920-35 ... 88 7 6 88 7 6 W.A. 3 p.c., 1915-35 ... ... 84 10 0 8i 5 0 Tas. 64 p.c., 1930-40 ... 102 5 0 102 15 0 Tas. 34 p. c ., 1920-40 ... ... 83 2 6 83 10 0 Tas. 3 p.c.. 1920-40 ... ... 77 0 0 77 5 0 FOREIGN EXCHANGES. LONDON, February 10. The exchange rates on London are as follows: Par. Feb. 7. Feb. 10. Paris, fr. to £1 21.224 123.37 123.53 Brussels, belgas to £1 ... 5 34.87 34.89 Oslo, kr to £1 18.159 18.79 18.84 Copenhagen, kr. to £1 18.159 18.19 18.20 Stockholm, kr. to £1 ... 18.159 18.17 18.17 Berlin, reichmkn to £1 . — 20.46 20.47 Montreal, dol to £1 _. 4.865 4.85’ 4.851 New York, dol. to £1 4.861 4.84 15-16 4.85 3-32 Yokohama, st. to yen .. 24.5 244 244 Rome, lire to £1 ... ._ 22.22J 113.63 112.00 Calcutta, st to rpe, 16 to gold £ 18 18.00 Hongkong, st to dot. ... • 24J Amsterdam, guild, to £1 12.107 12.13 12.12$ Batavia 12.107 12.11 12.104 • Governed by price of silver.