LATE COMMERCIAL

Southland Times, Issue 19517, 17 May 1922, Page 6

LATE COMMERCIAL

FOREIGN EXCHANGE. (By Telegraph.—Press Assn. —Copyright) (Australian and N.Z. Cable Association) LONDON,'May 15.

SYDNEY WOOL SALES. SYDNEY, May 16. (Received May 16, 11.5 p.m.) The wool sales have closed. Competition was keen and prices advanced 5 to 10 per cent. WELLINGTON WOOL SALES (Per United Pres*, Association.) The fourth and final wool sale for the season was held to-day, 2988 bales being offered to a full attendance of buyers. Competition was extremely keen, bidding being spirited from the opening. Prices for all wools showed a substantial advance compared with the March sale. The most pronounced increase was in lambs, which showed an advance of lid to 2d. Medium and course crossbred, which constituted the bulk of the catalogue, showed an increase of l|d, inferior crossbred Id, fine crossbred id, and pieces id to sd. The wool was somewhat uneven in quality, including a large proportion of seedy and inferior, though some bright good quality clips were included. The offerings could be classed as average quality for the’final sale. Of the total offering of 2988 bales, 98 per cent, was sold, most of the wool being for overseas buyers. The range of prices, with the March figures in parenthesis, was: — Average halffired I2d to 15d (12d to 13d). Average crossbred Bsd to 9sd (8d to 9d). Medium crossbred super 9sd to 10id (Bsd to 9sd). Average 7id to 9d (6d to 8d). Inferior 5d to ssd (4sd to sid). Course crossbred average 4id to 6d (4d to 5Jd). Inferior 4d to 5d (3id to 4d). Lambs fine 9d to 10id (7sd to Bsd). Medium 6d to 8d (5d to 6id). Seedy and inferior 4d to sid (3d to 4sd). Bellies and pieces crossbred good super s|d to 6sd (5d to 6d). Low to medium 2sd to 3sd (2d to 3d). Crutchings 2sd to 4Jd (3d to 4sd). Locks lsd to 3d ($d to IJd).

AUCKLAND STOCK EXCHANGE. AUCKLAND, May 16. Sales : War Loan, 1939, 93 J and 94 ; P. and O. Bank £l4, Union Bank £l2 16/6, South British 36/6, Loan and Mercantile £72, Auckland Gas contrib. 17/9, Kauri Timber 76/6, Refrigerating cont. 15/- Wilson’s Cement 17/3. HIGH COMMISSIONER'S REPORT. The Department of Agriculture has received the following cablegram dated May 13 from the High Commissioner for New Zealand, London:— MEAT.—Trade generally has been dull and prices slightly declined. A little better tone in the market at the end of the week. Present quotations are:— May J 3. May 6. April 29. N.Z. Mutton— Lightweight 7sd-Bgd 7sd-Bsd 7sd-Bsd Medium 7sd-7sd 7sd-7sd 7sd-8d Heavyweight 6sd-6sd 6sd-6sd 6d-7d Ewes 6sd 6sd 6§d Lamb— Best quality Lightweight llsd llsd-llsd llsd-llsd Heavyweight lOjd-lld lid Ordinary IOJd 102 d IOJd Second-class quality 10d-10id lOd-lOjd 10id Patagonian lamb now on market at 9d9Jd per lb. Chilled BeefHinds 7d 7id 7Jd' Fores 4d 4 id 4Jd N.Z. BeefOx hinds 4d 4d 4d Ox fores * 2Jd 2id 2*d With little demand. BUTTER.—Market weaker owing to reduction of prices of Danish, which on account of poorer Continental demand is in larger supply and is at present offering at about 170/- per cwt f,o.b. Present quotations are:— New Zealand (salted). —May 13, 166/- to 172/- per cwt (1/5$ to 1/6| per lb) ; exceptional 174/- per cwt (1/6$ per lb). May 6: 180/- to 184/- per cwt (1/7$ to 1/7$ per lb); exceptional 188/- per cwt (1/8$ per lb). April 29—182/- to 188/- per cwt (1/7$ to 1/8$ per lb). New Zealand (unsalted). —May 13: 166/to 170/- per cwt (1/5$ to 1/6$ per lb). May 6: 178/- to 180/- per cwt (1/7 to 1/7$ per lb). April 29: 180/- to 184/- per cwt to 1/7$ per lb). Australian (salted).—May 13: 160/- to 164/- per cwt (1/5$ to 1/5$ per lb). May 6: 172/- to 176/- per cwt (1/6$ to 1/6s' per lb). April 29: Do., do. Australian (unsalted). —May 13: 160/-to 164/- per cwt (1/5$ to 1/5$ per lb). May 6: 168/- to 172/- per cwt (1/6 to 1/6$ per lb). April 29: Do., do. Danish. —May 13: 176/- to 180/- per cwt (1/6$ to 1/7$ per lb). May 6: 188/- to 190/- per cwt (1/8$ to 1/8$ per lb). April 29: 184/- to 188/- per cwt (1/7$ to 1/8$ per lb). CHEESE.—Trade slow. Official quotations are:— Canadian. —Coloured, 88/- to 96/- per cwt (9sd to 10$d per lb) ; white, 82/- to 94/- per cwt (Bsd to lOd per lb). May 6: Coloured, 88/- to 98/- per cwt (9sd to 10$d per lb) ; white, 86/- to 94/- per cwt (9sd to lOd per lb). April 29: Coloured, 92/to 106/- per cwt (9sd to llsd per lb); white, 86/- to 96/- per cwt (9sd to 10$d per lb). New Zealand. —May 13: Coloured, 82/to 84/- per cwt (Bsd to 9d per lb), exceptional 86/- per cwt (9sd per lb); white, 72/- to 74/- per cwt (7sd to 8d per lb), exceptional 76/- per cwt (Bsd per lb). May Coloured, 80/- to 86/- per cwt (Bsd to 9sd per lb); white, 72/- to 74/- per cwt . (7sd Ia »$1 per lb). April 29: Coloured,

88/- to 92/- per cwt (9sd to 9sd per lb); white, 78/- to 84/- per cwt (Bsd to 9d per lb). HEMP.—Manila market quiet, but steadier. “G” grade May-July shipments sold at £32 10/- and £32 per ton, “H” quoted at £3l 15/- per ton. New Zealand continues neglected. Sellers quote highpoint fair, spot £3O per ton, May-July shipments £29 per ton; fair, £2B per ton. WOOL.—Sales continue with keen competition between Home and Continental buyers. Encouraging feature is extension of demand downwards from Merinos and fine crossbred to medium and low descriptions. Crossbreds now stand at about 15 per cent, above closing rates last series. B.A.W.R.A. offerings will consist of:— This week. Next week. Bales. Bales.

Cape Colony w001—4150 bales. FRUIT.—Good trade in apples this week though with six shipments available, market is much easier. New Zealand consignments generally in a better condition than Ausfralian though disappointingt in some lines. This week at sale of fruit ex Peshawur, prices for sound fruit range from 12/to 15/- per case for bulk. Best Jonathans 13/- to 15/- per case, Dunn’s 13/- to 16/per case, Ribstons 12/- to 14/- (mostly too ripe), Delicious 16/- to 18/- per case, Cox’s 24/- to 27/- per case. Result of sale of consignment by Wangaratta not reported yet, some consignees holding off until next week to allow better clearance of Australian damaged stuff. EGGS.—Demand slower and with sellers forcing sales, prices are easier. Present quo-' tations are: Irish, English, Dutch, Danish 14/- to 17/-; Russian and Styrian, 12/to 13/-.

Par. May 11. May 15. Paris (fr) 25.22$ 48.70 48.70 Christiania (kr) 18.150 23.80 23.85 Stockholm, (kr) 18.150 17.35 17.35 New York (dol) 4.80 4.44$ 4.45 Montreal (dol) 4.80 4.51 4.50 Berlin (mark) 2043 1275 1270 Copenhagen (kr) 18.156 20.87 20.87 VALUE OF FOREIGN UNIT. Calcutta (rup) 16d 158d 15}d Yokohama (yen) 14$d 25§d 25jd Hongkong (dol) 24d 30$d 31$d

Australian— Merino greasy 7600 5400 Merino scoured 4300 3000 Crossbred greasy 3050 2700 Crossbred scoured 1000 1250 New Zealand— Crossbred greasy 8450 7550 Crossbred scoured 2300 1400 Crossbred slipe 3000 1850