COMMERCIAL.

Southland Times, Issue 19069, 2 March 1921, Page 2

COMMERCIAL.

CLEARING SALE AT MANGAPIRI. The National Mortgage and Agency Co., Ltd., report having held a successful clearing sale on account of Mr Robert Beggs, Montevue, Grassy Creek, on Monday. There was a good attendance of buyers from all parts of the Waiau Valley, and everything was sold at satisfactory prices. The following are the principal sales:—Draught horses at £3B, £32 10/-, £3B, £23, £2O, £l6 10/-. Hacks. £25, £lB, £lO, and £7. Cattle—ll steers at £9 2/6, 19 steers at £3 15/-, 16 cows at £5 12/-, 5 heifers at £3 10/-, 1 bull £lO 10/-; dairy cows, £l4, £l3 15/-, £lO 10/-, £8 10/-. Sheep—2-tooth ewes 17/6, 4,6, and 8-tooth ewes at 14/-; ewe lambs at 12/-; wether lambs at 12/6; s.m. ewes at 13/9; stud Romney sheep—l ram 20gns. 1 at. £8 8/-, 1 at £6 6/-, 2 at £5 5/-, 8 at 5 at 6 at ligns; 30 ram lambs ar. 2fgns, 1 ram lamb at sgns, 1 at Signs, 13 ewe lambs at £2 2/-, 7 ewes at £2 2/-. Implements—Tip dray £l4 10/-, d.f. plough £2O 10/-, disc plough £ll, discs £lO 10/-, harrows £8 5/-, lime-sower £2O, drill £2O, roller £lO, turnip thinner £l3, scuffler £lO 10/-, binder £2O. A quantity of sundries, including harness, etc., brought full market value. DUNEDIN STOCK EXCHANGE. (Per United Press Association.) DUNEDIN, March 1. Sale on ’change: Mount Lyell, 12/6. CANTERBURY MARKETS. CHRISTCHURCH, March 1. The Canterbury markets are very depressed. Outside business has been hampered by the strike, but. in apy case little was in prospect. Merchants are stocked up with practically all classes of products from last'year, and a clearance will have to be effected before there is any movement towards meeting the present season’s offers. Wheat is coming in fairly freely, later samples showing an improvement in quality. Nevertheless there will be a much bigger proportion of fowl feed this season. Little new season’s oats is offering, principally because of merchants being disinclined to talk business. Algerians are weak, there being considerable local stocks of old season’s oats. Barley is worth 7/- to 7/1 at country stations. Though discoloured in many cases, the grain is firm and well ripened. There is no movement in grass seeds. There has been some inquiry from Auckland for potatoes for March delivery, and small business has been done at £5 per ton. at countiy stations. The current quotation for main crop delivery is from £4 to £4 4/-. There is a better feeling in regard to potatoes than other products. Onions have eased in price and are now worth £4 to £4 10/- at country stations. WELLINGTON WOOL SALES. AN INDEFINITE POSTPONEMENT. WELLINGTON, March 1. The Dunedin wool sale on account of the waterside dispute was deferred. Not until the Dunedin sales are disposed of can other sales be held, for the sequence has to be observed. The Wellington sales are not now likely to be held until ten days after those of Dunedin. It is expected that the aggregate catalogue will be between 15,000 and 16,000 balee. HIGH COMMISSIONER’S REPORT. WELLINGTON. March 1. The Department of Agriculture has received the following cablegram, dated February 26, from the High Commissioner for New Zealand in London:— Meat.—Chilled beef is in large supply and selling at to 1/- per lb hinds, and 8d lb fores. There is also a large supply of South American frozen beef selling at 9d per lb hinds and 6d per lb fores. The result is that New Zealand beef is not being placed on the market and is accumulating. Frozen mutton is also neglected owing to I the large supply of beef available. New I Zealand lamb is in good demand. Last week about 70,000 carcases from America were marketed and commanded the maximum price, 1/4 per lb. It is reported that a sale of New Zealand lamb from America has been made at per lb, c.Lf., delivery in March. A small quantity of New Zealand mutton from America is on the market and selling at 8d per lb for mixed parcels shewing signs of storage. Home-killed pncifes are maintained beef, 1/5; mutton, 1/9; lamb, 2/1 per lb. Butter. —Irish supplies and prices are irregular. New made creamery unsalted up to £lB 15/- per cwt (3/4 lb), creameiy, ex store, varying from £l4 to £l5 10/- per cwt (2/6 to 2/8 per lb). For Government butter there is no change in price, £l4 18/8 per cwt. wholesale, and 3/- a lb retail. Danish price, £ll 6/- a cwt and 2/a lb. Average price of English, £2O 12/a cwt (3/8 a lb), with small supplies. Cheese.—The Government price is unchanged, per lb wholesale and 1/8 retail. English is quiet and scarce at £8 8/- to £9 2/- a cwt (1/6 to l/7j per lb). Canadian supplies are small—white, £7 14/to £7 16/- a cwt (approximately l/4j a lb) ; coloured, £7 18/- to £8 a cwt (approximately 1/5 per lb). New Zealand is in good supply, with an easier tendency; white, £7 6/- to £7 8/- a cwt (approximately 1/3$ a lb) ; coloured, £7 16/- to £7 18/- a cwt (approximately 1/4$ a lb). There will be no further arrivals until March 26, and a reaction is expected in quotations. It is anticipated Government stocks will be Cleared early in March. Hemp.—Manila market is depressed and declining. There are now sellers of Novem-ber-January to February-April shipments at £4l. The New Zealand market is idle. Nominal quotations are: Spot high point £46 per ton; fair £44 to afloat £43 and £4l respectively, with probable buyers of afloat at 20/- less. ■ The wool sales are proceeding. CompetiI tion is a little better all round and the ; value of better class Merinos has slightly , improved on opening rates. A good selection of New Zealand greasy crossbreds was offered and finer quality sold well on the basis of recent rates. Inferior is selling slowly. Sliped and scoured also attracted more attention. Casein.—Present stocks of British are very heavy and all producing countries are eager sellers. The market is depressed and prices are low. Present quotations for rennet are: Good Australian or New Zealand £llO, French £llO to £125, lactic £BO to £l2O, all per ton, ex wharf London. MORTGAGE TRANSACTIONS. The monthly record of mortgages registered and discharged in New Zealand during the last two years is published in the abstract of statistics. In 1918, there were 34,913 mortgages, representing £68,544,802 registered, and 28,185 mortgages representing £19,267,440 discharged, the incre«a.v for the year being £19,277,362. Last year the registrations totalled 58,895, representing £69,993,531, and the discharges 42,811. rep resenting £31,580,598. the increase for the year £38,412,933. The highest figure was reaMd in August of last year, when ■ mortgages representing £7,223,033 were re- | gistered. Since then there has been a decline, though the registrations in December amounted to £5,571,181. According to the Year Book, the total amount represented by the mortgages on the register under the Land Transler and Deeds Registration Acts on March 31, 1919, was £146,750,636. The increase during the period of twenty-one months to December 31, 1920, was over £55,000,000, the total at the latter date being £202,556,114. THE MOTOR TYRE MARKET. In connection with the tyre market an English writer states: —“There are many American tyres selling in this country, and I hear of the possibility of many more coming along owing to over-production in the United States. They have got to be unloaded somewhere, and because of the freedom with which tyres are allowed

through the ports, the British manufacturer appears to be placed at a considerable disadvantage. Apart from that, however, our makers of tyres have lost a good deal of the trade done in refitting American wheels owing to the general adoption of the straight-side tyre, which renders their fitting particularly easy. And there seems to be another reason for the popularity of the imported article. Rubber is plentiful, and so much of it has been accumulated in America that tyremakers have not hesitated to furnish weightier and fuller covers than the British makers. American firms have also gone all out on the cord principle of construction, which nearly every’ motorist must know was initiaterl by a British firm who have never made their tyres in any other way. The Dunlop firm and the North British Rubber Company, the makers of the well-known Clincher tyre, are now producing straight-side tyres, and rims are now available which are suitable for both the straight-side and beaded-edge pattern.*