COMMERCIAL.

Southland Times, Issue 12124, 2 May 1908, Page 4

COMMERCIAL.

Produce Prices Current THURSDAY,"~APRIL 30, 1908. i i The following prices are aproximate quotations. It is not to be supposed that the wholesale and retail-merchants are bound by them. The quotations are obtained eacli week from the secretary of the Grocers’ Association, and are a fair statement of the current market, but are, of course, liable to fluctuations. WHOLHSALE. Fresh farm butter, 9d. Fresh butter, separator, lid. Factory butter, %'lb prints. Is -'A d ; lib prints, Is I%<l. Potatoes, £3 10s. Flour, £l9 to £l9. Oatmeal, £l3 10s to £ll. Fg{js, Is (id. Pollard. £0 10s. Bran, £5 ss. Chaff, £4. BETAIL. Fresh butter, 116. Fresh butter, separator, Is Id. Factory butter, pats, Is Id. Fstfs, Is od. Cheese, to Sd. Bacon, sliced, lOd per lb. Hams, lOd. Potatoes, Gs per owt. Flour, 2001b, 2Gs ; 1001b, 13s 6d ; 501b, | 7s, 251b, 3s 9d. Oatmeal, 501b Bs, 251b -is 3d. Pollard, 11s 3d. Bran, 6s 3d. Chaff, 2s Gd. (Country storekeepers’ price for eggs wholesale is one penny less than above quotation.) SOUTHLAND PRODUCE MARKETS. TIMES OEKICB, Friday. Ist May. OATS.—Tho market has been quiet during the week, and the business passing has boon limited. Small quantities have been bought from farmers at from 2a l*£d to 2s 2d, 0.t.c.8. Sales have been made to the North island at from 2a Cd to 2s 6Vad. f.0.b.,5.i. A few oats arc coming In from the country to be stored, as the ownerM* ideas of values are considerably above the ruling market rates. The grades for this season have now been fixed by the Invercargill merchants on the same basis as for last year. WHEAT.—No business is passing. GHAFF.— A good deal of übaffeutting has been 1 going on during the past month, and a considerable quantity has been on offer in the local market. A few farmers, however, are holding over till tho spring, hoping that they will get about | £4 10s or £5 per ton. The bent prices obtainable at present Is £3 10s to £3 15s. Generally the quality ©f chaff offering is excellent. POTATOES.—SmaII quantities are being bought at from £3 to £3 5s per ton, 0.t.e.5., for good * eating potatoes. Merchants are not at all Keen to speculate in this commodity, and prefer to do a hand-10-moulh business. SHEEP.—There is a considerably easier feeling all round in the sheep market. Practically everyone icqulring sheep has now filled up, and the demand at present is not equal to the sup- ■ ply. Good sorts of yuung cues can still be i placed at from 20s to 2ls. sound-mouthed sheep i from 14s 6d to 16s. Lambs for fattening are not , b'dng sought after to any great extent, as lo f another month they will have commenced U» lose i their teeth, and become difficult lo fatten In coni sequence. Forward wether# have been soiling at * from 16s to 17h Gd. A fair number of fat lambi are being sent into the works at present, but t buyers are not able to operate In wothera. Recent advices from point to a further drop lo - the price of pulls, ami Ibis has not improved the local freezing market. Extra good butcher*?' workers are making as high as 21s, good sorts from 18s Gd to 265. f CATTLE.—The cattle market is in much the same condition as at tho time of our last re* 8 port. At WaliacTtown last Tuesday the quantity 8 offering was rather in excess of requirements, but the quality was only middling. Prime ox 1 beef Is worth 23r per tOOlh. medium from 20s to 3 21s. Inferior and cow beef from 17s to 19s. There is still a good demand for forward bullocks for turnips at from £5 10s to £6 10s. Young cattle * are nut being sold in any number. d THE MONEY MARKET. y All through the current, month the Bank of * England has lost gold. On April 1 tho gold In the Issue Department amounted to £38.312.000, while on Wednesday last it had shrunk lo f £35,606,0119. disclosing a loss of £2,70G,000 In ’ three weeks. This efftux of the motal has made no difference to the propoitlon of reserve lo 21a--0 hilltlcn, which still stands at over 50 per cent. A The discount rate in the open market has ranged between £2 7s Cd and £2 13s 9d per cent., the 5 rale last week being t)2 12s 6U per cent. London r bill rates arc easier than in Paris or Berlin, which plains are drawing gold from New York With the increasing dullness in trade, and the recrudescence of industrial disturbances, involving strikes and lock-outs, there is bound to be a certain amount of hoarding, not in tho American sense, hut through money being allowed to Cfcuniulate in the banks and. consequently, money should oe cheap for some lime to come. Locally n the stringency is increasing, at least that is the t complaint of many business men, and it, is uot y an easy matter to arrange loans ; the banks are t lending with great caution, which is to be commended. What seems to be the true position, is \ that woolgrowers and others, not receiving the r same income as was the case last year, have been compelled to curtail expenditure, ami this n is beginning to be felt by the community. Then: j is nothing serious in the position, it merely means (hut we cannot be lavish in our expenditure. Of n course, a good many who have saddled themselves with liabilities wil 'have a weary struggle, and not a few may sink, but that happens after every boom. Gare and caution are commendable things just, now, but there is no reason to lake alarm, 8 and anticipate financial troubles of a serious character. New Zealand will gel over the monetary stringency ami fie all the bettor for having hj experienced it.—Dominion.

HOTEL PROPERTY SALE. Messrs E. L. Macp.KHey and Co. report. having sold, on behalf of Mrs Parker, the lease, furniture. stock and effects of the (Land Pacific Hotel, South Dunedin, as a going concern, to Mr W. .1. Marshall, of Gropers, Southland. .Mr HnrMmll lakes possession on the 13lh of May. WYNDHAM STOCK. SALK. Henderson and Co. report - Sheep.—A full yarding, including n large percentage of aged owes. Bidding was slow throughout, and, although it livened up somewhat towards the clone of the sale, prices did not improve on the opening rates, which wore on a par with recent .sales in other centres. Lambs and wethers showed a decline on the rates ruling at last month’s sale here. We penned 5483, and sold all excepting five lots, at the following range of prices : Fat wethers 18s 17s lOd. 17s Gd ; forward wethers, 17s IGs Sri and Iks ; good stores 15s kd, 15s, 14s 3d; small wethers. Lis -Id: forward lambs lls fid and 13s sd for the best and Ills Id to 11s ltd for smaller kinds ; store lambs, small, I la fid to 10k Sd ; best ewes, ’* to S-looth, 18s, 17* 1-id. 17s 5.1. 17s :id ; s.m. owes. Ills (Id to 13« 3d ; good, need owes. 11s lid to Os 4d ; medium, NS U to Ts Id : cull do. Cs id to 4s fid : 13.L. rams, 3 gns to fi’.tgns ; Romney do, Digits to ID; gns : English Leicester do. ign to l-igns. Cattle.—A medium yarding. Our entry “was G3 head, and we sold the lot, excepting one pen. Prices were not up to those just recently ruling, but the sale being somewhat Into, owing to the largo entry of shoe)), doubtless accounted for the small demasd. The National Mortgage and Agency Co. report— Sheep.—We yarded 2650. Our sales were : Kim 4. •». and S-tooth ewes, at up to 30s ; 700 lambs. U’s Gd to Hs ; one extra nice line ewe lambs, 15* •id ; aged owes, 7s Gd to 10s ; 40 U.L. and Romney rams. nfcgns to :lgns. Cattle.—Our entry was 170 head. A very nice line of 50 fat and forward bullocks sold at £7 ITs Gd : 50 speyed heifers fetched £4 5a each ; light steers. .£3 10s to £4 10s. The tone of the market was good for lambs, while ewes were a little easier. Cattle were in fair demand for lurniping, although for the majority of fatieners the season is rather earl/. SUCCESSFUL SALK. Todd Bros, and Co.. Heriot, report having held a very successful clearing sale on account of Mr

Donald Cameron, of Arthurton, who has recently \ Mid his farm. Buyers were present from Oort, { , Walpahl, Walkaka, T&ponul, Herlot. Sheep were • . sold as follows : 2, A, and 6-tooth ewes 20s. full , I and falling 9s 3d. fat wethers 18s 7d, lambs 14b 7d * J and 14b. Milk cows sold up to Zi 16e. Horses : Mare and foal. £43. gelding Tom £BO. do Charlie £3l, do Prlnco £27 10s, draught filly £lB, gelding. Toby £n, aged back £6 10s. filly £9. harness mare £l2 10s. Farmers* Favourite drill £lB 10s. Ploughs, binders and other Implements sold were up to the usual clearing sale rates. CHRISTCHURCH PRODUCE MARKET. CHRISTCHURCH, May 1. Business in wheat continues within narrow limits ami tho number of Hues placed on offer by growers during tho past week has been very small. The bulk of the transactions since last report have been between merchants, the plrces asked by growers being in nearly every case too high to lead to business. Since last report Ibo following purchases have been made from farmers, the grain in each case being bought on trucks at country stations:—2oU sacks Tuscan at 4s sd, 200 sacks velvet at Is 3d, 150 sacks Hunters at 4s 3d. 200 sacks Tuscan at 4s 4d, and 200 sacks velvet at 4s 4d. Tlie oats market is slightly firmer, but there has not been any advance in values. Local prices .still rule about Id above Southland quotations, ami In consequence of this Utile business has been done. Very Jew oats have been shipped from Canterbury to other parts of the dominion, except to ports not touched at by tho southern boats. At present all large orders are being placed down south. One of the beat sales made since last report was that’of a line of 200 sacks of Duns at 2s -Hid on trucks at a country station. Some difficulty is being experienced in obtaining secondhand sacks for chaff, and this has had the effect of hindering business. The present value of cl luff is £3 15s per ton, but in most cases holders are asking £4. In potatoes a fair business has boon done on a basis of £3 Jf.s for Up-to-dates, and £3 IVs 6d for Uerwents. Peas, except Prussian Blues, which are not obtainable, are dull of sale, and the demand for 1 beaus la quiet. The price of onions has advanced to £5 5s for the host classes. MINING. DUNEDIN, May 1. Dredging returns:—Masiorton IDSoz Gdwt, Waikalu GSoz, Mystery Flat 430z 4dwl, Manuheirkla 430/, Genual Charlton 21oz lldwt, Ilesscy’s 18oz 6dwt, Kura ISoz 17dwt, Charlton Creek ISoz 15 dwt, Switzers 7oz 2dwt. MONEY AND MARKETS. B> Telegraph.—Press Association.—Copyright. LONDON. May 1. Received May 1, 10.35 p.m. , Bank of England returns:—Gold coin £35,944,000, reserve £27,154,000, proportion of reserve to liabilities 01.04, in circulation £28.610.000. public deposits £9,993,000, other deposits £43,133,000, Government securities £14,315,000, other securities £29.479,000. Three months' bills arc discounted at 21 1-16: short loans 2%. •' The bank rate is 3. The Paris market rate of discount is 2%, Berlin 4M ■ Consols arc quoted at sCVi—Colonial Stocks— New South Wales 4’s 109. 3U’s 99tf, 3*B 88*4, Victorian 4's 10H4. Queensland 4’s 106, Tasmanian IRA's 99%, Westrulian 3’s 81%. —Wheal and Flour— The wheat markets are firm. Owing to reduced Argentine shipments and increased Continental demands cargoes are firmly held. Australian January 37s Gd, March steamer spot is scarce at 38« Gd to 395. The American visble supply is 46,704,000 bushels. Flour is quiet. “Patents'' arc ottering In London at 26s 6d. In Glasgow at 26s 9d landed. —Metals— Silver, 21 5-16 d. Copper, spot, £57 JUs; three months, £SS 2s 6d. Tin, spot. £142 15s: three months, £ll2. , Lead. £l3 ss. Iron, nominally three months 48s -Id. , • —Sugar—- . Sugar—German Us Uhl, first marks 13s fid. Wool— Bradford wool is flat ami there is little business. —Butter—- . Butter is very firm ami there is good demand. L Choiee Australian 108s. occasionally 110s, New , Zealand 112s to U4s, Danish Ills to’llGs. I " *"*