COMMERCIAL.

Southland Times, Issue 19048, 5 February 1921, Page 2

COMMERCIAL.

THE LOCAL MARKETS. Times Office, Friday, February 4. There has been a little more activity in the stock market this week owing to the freezing works having opened. Fat stock buyers are showing a preference for lamb and beef rather than mutton. Prices for beef and mutton are, perhaps, showing a declining tendency to a slight extent, but lamb is remaining firm due, probably, to the better outlook on the Home market for this product. Store sheep are not offering freely at sales, and very few are being disposed of privately. Store cattle are more in demand, especially young dairy heifers, in anticipation of next season.

OATS.—The market continues firm at the prices quoted last week and several sales of A grade Gartons are reported at 3/3, f.o.b.s.i. There is also a firm inquiry for B’s for forward delivery, spread over several months, and buyers are offering 3/2, f.o.b.s.i.

CHAFF.—The market continues weak, and few purchases have been made by merchants who are not anxious to buy at £6, on trucks. There is not, however, a great deal offering, and the supplies available should be easily absorbed before the new chaff is ready for delivery. RYEGRASS. —Up to the present no sales are reported, and only one or two lines have been offered. It is unlikely that opening prices will exceed from 3/- to 3/6. These prices, however, cannot be remunerative to the farmer, and several have indicated their intention of holding in expectation of better values. There has been inquiry from the north during the week for dressed seed for immediate delivery. POTATOES—The market for shipment is still weak and prices indicated for delivery during late months are £5 to £5 5/-, f.o.b.s.i. HEMP—There is no change to report since last week. PROPERTY SALES. Messrs James H. Brass and Co., of the House Hunting Agency, in Spey street (opposite Briscoe & Co.’s), report having had an exceptionally busy time since opening for the New Year. There has been a continual demand for houses during the month, particularly for those at a reasonable price, and notwithstanding the restricted finance available, the following sales have been completed:— Mr Helson’s pretty little bungalow at Enwood to Mrs Aflleck, of Otautau; Mr Newman’s residence at North Invercargill to Mr Sandon; Mr Batt’s dwelling in Ettrick street to Mr Francis; Mrs Henry’s residence to Mrs Butler; Mr Thompson’s house to Mr Brough. Sections have also been sold at Heidelberg, North Invercargill, and five acres at Makarewa. Business in the farm property line has been quiet, but Mr Gordon’s 226-acre farm at Mokotua was disposed of to Mr Hullen, of Canterbury, at a satisfactory figure. Mr Brass states that the support given the firm by his and Mr Stormonth’s many friends in the town and country has been very gratifying as not only are they getting a fair share of the properties that are for sale to handle, but they are also being given a chance by buyers to prove their mettle. Both Mr Stormonth and Mr Brass do their utmost to give clients (whether buying or selling) “a straight deal” at the House Hunting Agency, and we confidently look torward to further reports of satisfactory business in the months to come.—(Advt.) WINTON STOCK SALE. Hiere was a small yarding of both sheep and cattle at Thursday’s sale. Prices were on a par with those ruling at the previous sales. Following are the sales:— National Mortgage and Agency Company —Dairy cows £l3, £9 15/-, £5 17/-, £4 12/6, £lO 5/-, £9 15/-, £6, £3 18/-, steers, 4 at £3, 3 at £4 12/6, 4 at £3 2/6. Sheep—sB fat wethers 31/-, 150 ewes and lambs 16/-, 120 at 15/6, 50 lambs 17/3, 124 wethers and ewes 18/9. Wright, Stephenson and Co., Ltd.—Sheep —l6 ewes 24/9, and 131 lambs 17/6.

Cattle—3 cows £9 10/-, 10 steers £7 2/-, 4 cows £8 15/-, cow £7 2/6, cow £7 5/-, 4 calves 12/6, cow £9 15/-, 1 steer £8 5/I-. Pigs—2 pigs £2 1/-, 2 at £1 9/-, 1 at £1 7/-, 6 at £1 5/-. Farmers’ Co.-op. Assn., Ltd.—Sheep: 100 lambs 19/7, 110 at 19/7, 24 ewes 19/-, 25 lambs 18/6, 11 ewes 23/4, 56 wethers 21/-, 51 ewes and lambs 14/-, 6 wethers 34/6, 93 lambs 17/9. Cattle—3 steers £9 12/6, 3 heifers £4 10/-, 4 steers £5 2/-, 8 steers £3 5/-, cow £4 12/6, 2 bullocks £l2, 3 at £7 10/-, 1 at £9. STOCK EXCHANGE. (Par United Press Association.) CHRISTCHURCH, February 4. Sales reported: Government 5| per cent, bonds (1933), £9O 10/-. DUNEDIN, February 4. Sales on ’Change:—New Zealand Insurance, 27/-; Dominion Rubber, 23/- (two parcels). Sales reported: New Zealand Refrigerating Co. (10/- paid), 20/3. WANGANUI WOOL SALE. WANGANUI, February 4. Considerable interest was taken by growers in the second wool sale to-day. The sale, however, cannot be regarded as a success, most of the wool being passed in, as the bidding lacked earnestness and spirit. FEILDING RAM SALE. FEILDING, February 4. The Feilding Ram Fair concluded to-day. Stud Southdowns sold well, the best price being 32i guineas for a ram sold on behalf of James Knight to L. Wall (Manawatu). Flock Southdowns made up to 15 guineas, all well-made sheep being briskly sought. Lincolns were not required, the highest price being 11 guineas for a stud ram offered on behalf of W. Perry (Masterton). There was no demand for Southdown ewes or Shropshire ewes, but Shropshire rams sold up to 6 guineas, being a better price than any previously known here.

CANTERBURY MARKETS. CHRISTCHURCH, February 4. Broken weather has delayed harvesting and business in the new season’s crop has been negligible. The unseasonable burst has caused considerable damage. The barley is much blackened in some localities, and both oats and wheat in stook are sprouting and in the cases of early cut crops there will be a larger proportion of discoloured grain as a result. Oats have suffered more severely than wheat, but there is such a huge carry-over from last season that prices are not affected. Nominal quotations for A grade Gartons are up to 2/3. The cocksfoot harvest will also suffer as a result of the broken weather. Potatoes are nominally worth from £4 to £4 10/- at country stations, with sellers not very numerous at these figures. The report that the area under crop is 27 per cent, less than last year, combined with a lesser field of practically a similar amount, has given a shade firmer tone to the market, but there is no business worth speaking of passing Onions are worth £6 10/- at country stations. AUSTRALIAN MARKETS . (By Telegraph.—Press Assn.—Copyright) MELBOURNE, February 4 Barley, English, 4/- to 4/3; Cape, 3/-'to 3. 3. Oats, 2/3 to 2/4), Potatoes, £4 to ,£5 I/O-. Onions, £4 10/- to £5. LONDON MARKETS. LONDON, February 3. The Bradford wool rates show a rather better tone all round with improved enquiry for merinos. Sixty-fours are quoted 54d, fifty -sixes, 32d; forty-sixes, 19d.

The wheat market is quiet and offerings are moderate. In flour good business is being done at a further reduction of a shilling. Barley is slow of sale. Australian Chevalier is offering at 75/- to 90/-. Oats, peas, and beans are quiet and unchanged. Sugar is unchanged. Cheese is steady. New Zealand is selling well at late rates. It is estimated that the Government’s stock of cheese is 7000 tons, mostly old and of inferior quality. The Food Controller offers retailers an extra penny a lb commission as an inducement to press sales. THE DOLLAR AT CANTON. Once more the eccentricities of our friend the dollar add a zest to life. There was another considerable drop yesterday, making a fall of 3d in two days. Five years ago it would have been sensational, but the violent fluctuations of the past year or two have hardened us: the perspective has lengthened and the penny is to us less than a precious eighth used to be. Most of ua, speculators big and small, are engaged ih puzzling again the eternal question; up or down? We.listen to a banker on the subject and feel comforted a little. Which ever way the dollar jumps in the near future it seems it will not jump very far. The prerent drop is attributed almost entirely to a fall in the price of silver, in turn credited to the European Governments’ efforts to rehabilitate their currencies. We are told that speculators had the silver market pretty well cornered until the governments interfered quietly, with the result, we are assured, that there is sufficient silver available to meet all likely demands for another year. The demand from the Far East is at present small and no forward rates are quoted. Onty a bold man will predict. Memories of the unprecedented rise to over 6a a year ago, then the swift fall to 3s 6d and again a rush to 4s 4d only a few weeks ago gave us a pause. There was a record drop for one day last week and in fact it has been a time of extraordinary happenings in the money market. It is accordingly with considerable trepidation that we say we expect the dollar to go a little further down say to about 3s 2d. There will probably be a little upward kick about the Chinese New Year, but we shall be surprised to see it above 3s 8d for another six months. This is but our own opinion, and we take no responsibility in connection ’Anti) it. In exchange it is sauve qui peut and the Banks for us all.—South 1 China Morning Post, December 1, 1920.