COMMERCIAL

Southland Times, Issue 19658, 7 October 1922, Page 2

COMMERCIAL

BRAY BROS.’ REPORT. Messrs Bray Bros, Ltd, auctioneers, etc, report as follows: — Fruit.—Dessert apples, best quality, 10/6 to 13/6 case, secondary quality from 5/6 to 9/6 case; cooking apples to 11/- case; lemons, American (Sunkist), 50/- case; Australian, 20/- case; passion, 30/- case; Valencia oranges, 22/6; Navel oranges, 25/case. Vegetables—Swedes, 2/- to 3/bag; rhubarb, 2 Ad to 3d lb. Produce.—Seed Potatoes; good clean lines are in request. Prices, 8/6 to 11/cwt, according to variety. Tabic potatoes, 8/6 to 9/6 cwt for best quality; straw, £4; hay, 3/- to 3/6 bale; chaff, £4 5/- to £4 10/- for prime quality, inferior 2/9 bag; barley, 12/6 bag; wheat, 9/- to 18/- bag; oats, 10/- to 12/6 bag; Meggitt’s calf meal, 22/6 per 1001 b bag; Meggitt’s tonic meal, 1 1/6 per 21b bag; pollard, 21/6 per 2001 b bag; bran, 9/6 per 1501 b bag; Crown flour at current rates. General.—Lepp salt lick, contains free sulphur and is the best cattle tonic available, 2/- brick and 19/6 in case quantities of 12 bricks; horse-covers, 40/-; cow-covers, 12/6 to 15/-; tea in 51b packages, 7/6 and 9/6; honey, 101 b tins for 7/6, 601 b tins at 7d lb; bacon, 9d to 114 d lb; draining boards for sale and orders taken for immediate* or “forward” delivery. Furniture.—Our Spey street showroom stock of new oak and rimu furniture of modem designs. 'Prices given on application. This week’s specials: Kitchen chairs 7/-, high-back (leather padded) chairs 16/-, duchess chests from £3 10/-. THE RIALTO. Messrs William Todd and Co., Ltd., report the following sales on Friday, October 6:— Poultry.—Small entry; keen demand. Hens, 3/5 to 4/-; Minorca hens, 3/10 to 4/7; heavy hens, 4/2 to 5/2; ducks, 3/5 to 4/-; geese, 3/9 to 4/-; Minorca rooster, 4/9; White Leghorn roosters, 3/- to 7/9; small cockerels 3d to 4d (these are very difficult to dispose of). Pigs.—l 63 sold under keen competition; good attendance of buyers. We had a larger entry of store pigs than usual. Small weaners 11/6 to 15/-, weanerg 16/to £1 2/-; stores, medium size 24/- to £1 13/-, large stores £1 15/- to £2 10/-, sow £2 13/-. Dogs—Unsaleable; no demand. Calves—3/6 to 4/6. Cows—£s, £5. Steer. £2 5/-. Horses—From Ruapuke Island £2l, £10; 2-year-olds £7 5/-, £5; light horses, £7 15/to £lO 10/-. Gig and harness £l5 12/6; gig harness, £5 10/-. We sold 400 sheets good secondhand iron at prices ranging from 5d to 8d per foot. Produce.—Potatoes (prime quality), £9 per ton; others, 12/6 sack; onions, 18/cwt; chaff, £4 to £4 10/-; oaten straw, £4; clover hay, £5; oa(.s, 9/- to 12/-; fowl wheat, 14/- to 16/-; barley, 10/- to 14/-; linseed, 30/-; sorrel, 5/6; oat dust, 4/-; ryecorn,' 17/6; seed potatoes—good demand for main crop varieties, 10/- to 12/cwt; K.P. potato manure, 10/- cwt. Miscellaneous.—Barb wire, 32/- to 36/cwt; No. 8 gfjvanised wire, 26/- cwt; rabbit netting, 30/- coil; fencing posts, £4 to £6 per hundred; Ceylon tea (in chests), 2/2 per lb. D. W. McKAY, LTD. Messrs D. W. McKay, Ltd., report as follows : Bacon.—Prime roll bacon, lid per lb. Produce.—The potato market has firmed 1 considerably during the week owing to the fact that many lines now require picking over. Fresh clean picked tables have been sold at from 8/- to 10/- per cwt-, ex store. For seed varieties the big demand is over, but we have sold fair quantities of seed potatoes at from 6/- to 12/- per cwt; bran, 8/6; pollard, 15/-; wheat, 9/- to 15/-; oats, 7/- to 9/- ;oat dust, 4/6; pressed clover hay, 4/6 per bale; pressed oaten straw, 3/6 per bale; prime chaff, £4 10/per ton; onions, Victorians, 18/- per cwt, American 22/- per case; Meggitt’s meal, 6/6 bag. Fruit.—An extremely week in this department. We have handled large consignments of oranges, mandarins, bananas, pine-apples, passions, grapes, and tomatoes from Australia, Tongan Islands and America. The market is also well supplied with dessert and cooking apples, prices being somewhat easier than last week. Vegetables are also coming forward more freely, including some prime lettuce, cauliflowers and carrots from the north. Approximate prices: Oranges, Navels to 24/-; lemons, 22/-; oranges to 22/6; mandarins to 29/-; pines to 22/6; passions to 22/-; bananas to 32/6; grapes to 1/7 lb; tomatoes to 1/6 per lb; apples, dessert to 12/6, cookers to 11/-; cauliflowers, 9/- to 11/sack; carrots, Id to 2d per lb; rhubarb, 3d to 4d per lb. General.—Exchange tea, 12/6 per 51b box. A large consignment of ladies’ boots and shoes arrived and were offered to-day; prices ranged from . 6/- to 17/-. These are all first grade shoes and the balance of the lines will be sold on Friday next. Milk-cart £l5, motor bike £l5. Furniture.—Special sales during the week: Chesterfield suite £23, bedroom suite £l2, sideboard £l5 (oak). Bedding has also been in keen demand. Floor Coverings.—We have just landed a shipment- of linoleums; good patterns; and are offering same at keen competitive prices. Inspection invited. F. BOWDEN & CO. Messrs F. Bowden & Co. report another busy week, exceptionally heavy supplies of all fruits in season coming to hand. A big shipment of tomatoes, ex Tahiti, arrived on Wednesday and sold well. The Waikouaiti also brought a big shipment of citrus fruits from Sydney. Rhubarb, cauliflower and lettuce are plentiful. Table and seed potatoes and fowl wheat are selling well. The week closed with wholesale prices ruling:—Apples, dessert Stunners 9/- to 11/-, Rome Beauty 10/- to 11/6, Pioneer 9/-, Newtown Pippin 10/- case; pears, cooking 7/- to 9/-; oranges, SA, 12/- to 20/-, Valencias 20/-, Seville marmalade 15/-, Poorman 12/- case; lemons, S.A. 19/6 to 22/-; mandarins, 25/6 to 28/6; passion fruit 20/-; pines, 20/- to 22/- case; tomatoes, 1/1 to 1/6 lb. Vegetables, Produce, Etc.—Lettuce plants, 2}d bundle; rhubarb, 2d to 4d lb; lettuce, 1/- to 2/- dozen; cauliflower, 2/- to 7/dozen; cucumbers, 8/- to 14/- dozen; onions, Victorian 18/- cwt, new season’s Californian 25/- crate; carrots, 6/- to 8/cwt; parsnips, Id to 2d lb; table potatoes, £8 10/- to £9 ton; seed potatoes, 8/6 to 14/. cwt; fowl wheat, 14/- to 18/6, sacks in; bran, 150’s 8/6; pollard, 200’s 22/-; oats, 7/- to 12/- sack. WINTON STOCK SALE. At Thursday’s sale there was a fair yarding of both cattle and sheep, the former consisting largely of dairy cattle, and the latter wethers and hoggets. Prices, which are as follow, were consistent with laet sale:— Wright, Stephenson & Co., Ltd.—2s3 wethers 23/8, 190 do. 22/6, 400 hoggets 17/-, 160 do. 16/6. Cattle. —Dairy cows, £6, £3, £8 10/-, £6 10/-, £5 5/-, £3 17/6, £5 17/6, £2 10/-, £7 5/-, £6, £2, £2 7/6, £6, £8 5/-, £7 12/6, £9, £B, £3 15/-, 8 yearlings £1 13/-, yearling heifer £2 1/-, heifers £4, £3, bull £3 5/-, fat cow £B, dairy heifers £7 5/-, £7 10/-, £5, £6, £5 10/-, £5 15/-, 2 empty cows £1 10/-, 7 steers £2 2/-, 6 do. £4 10/-, 5 do. £2 15/-, 10 do. £4 15/-. National Mortgage & Agency Co., Ltd.— 100 m.s. hoggets r l5/2, 290 do. 16/-, 70 do. 15/9. Cattle--Cows £ll 2/6, £9, £2, £B, £6, £3 9/-, £B, £l, £5, 3 heifers £3 17/6, 9

bullocks £6 8/«, 11 do. £4 17/6, 9 do. £6 9/-. Dalgety & Co., Ltd.—lB6 ewe hoggets 23/3, 218 wether hoggets 17/6, 34 do. 17/-, 149 do. 17/-, 102 do. 17/6. Cattle.—2s calves 22/-, empty cows £4 5/-, dairy cows up to £7 10/-. CONVERSION OF TAX-FREE STOCKS. Of all the problems that occasion concern to Commonwealth and State Treasurers, few approach in importance that of the existence of current large investments in Government free-of-tax securities (says the Argus). Mr Bruce (Federal Treasurer) referred to the matter in his Budget, and announced that he intends to discuss the subject with the State Premiers as soon as possible. These Ministers accordingly are understood to be exchanging views on the, subject. In New Zealand the Prime Minister has endeavoured to solve the problem by offering to holders of 44 per cent, free of income tax stocks the right to convert until January 1 next into not free of income tax inscribed 51 per cent, stock maturing in September, 1941. The New Zealand Government retains the right to redeem the stock at par on giving three months’ notice after September 1, 1927. More than 45,000 persons hold free of income tax stocks in New Zealand, most of which fall due in 1928. If action in the same direction is to be taken in the Commonwealth by the Treasurers they may have to follow some such plan as that outlined in New Zealand. An inducement will have to be provided to get people to convert. Whether a 5| per cent, issue at par would be sufficiently attractive is exceedingly doubtful, unless money should become much cheaper. CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH, October 6. The short offerings of potatoes for some weeks and the bare position of the Auckland market created a rapid advance in values which reached its highest point £S per ton, f.0.b., s.i., equal to £6 15/- to farmers. The cargo of 9000 sacks which went north early in the week indicated that the source of supply was not altogether dried up, and instead of merchants looking for supplies during the week the position rather has been that growers are looking for buyers. Merchants are buying very sparingly, and some not at all at this late period of the year. It is fairly agreed that supplies in growers’ hands in this part of Canterbury are very small. During the past day or two Dakotas have been sold at £5 10/- at country stations, and whites at £6 5/-. Whites have been offered without much response at £7 10/-, f.0.b., s.i. Today’s price represents generally a drop of 10/- a ton on the figure ruling a week ago. Probably a slight steadying-up will take place as the result of the small consigniinent taken on board the Wingatui (from 400 to 600 sacks) to-day. The export of oats has practically ceased to Australia, and Home offers provide no margin for export at present. Milling wheat has been selling freely to North Island mills, the business making a fairly satisfactory inroad on the stocks on hand. Fowl wheat maintains a fair amount of activity at 4/- to 4/3, f.o.b. The pool for undergrade wheat is attracting no entries worth speaking of as far as Canterbury is concerned. It is expected that Otago and Southland may participate in the scheme, but in any case the extent will be measured by the yet unknown quality of the wheat still to be which is considerable.

There has been a brightening of the white clover market, and fanners’ undressed is worth up to 1/4 per lb. CHRISTCHURCH STOCK EXCHANGE. CHRISTCHURCH, October 6. Sales reported: New Zealand Government 5j per cent. 1933, £99 5/-; National Bank, £6; Standard Insurance, £1 11/-; Ward’s Brewery 7, £1 3/-. Sale on ’Change: AUCKLAND STOCK EXCHANGE. AUCKLAND, October 6. Sales were made on the Auckland Stock Exchange as follows:—Bank of New Zealand 56/-; Union Bank, £l3 4/-; South British Insurance, 36/6; Standard Insurance, 31/6; Taupiri Coal, 17/3; Auckland Gas, 23/9; Auckland Gas, contributing, 18/9; Devonport Ferry, 25/-; Kauri Timber Co., 28/-; Auckland Trams (pref.), 18/3; Wilson’s Portland Cement, 19/11 and 20/-; Moanataiari, 3/1; Ohinemuri, 1/6; Waihi Grand Junction, 9/1. LONDON MARKETS. ! Messrs Dalgety & Co., Ltd., have received the following advice from the head office, London, under date October s: Frozen Meat. —Quotation New Zealand prime crossbred lamb, Canterbury heavy light 12§d; North Island heavy lOjjd, light 12£d; demand for North Island lamb is steady. Quotation New Zealand prime crossbred mutton, Canterbury heavy 7d, light North Island heavy 63d, light 74d; demand for New Zealand mutton better. Quotation New Zealand prime ox beef hinds 4|d, light 3^d; demand for New Zealand beef fair; market for New Zealand lamb and mutton firm, beef steady. Quotation good average quality Australian crossbred mutton, heavy 64d, light 63d; demand for Australian mutton good; frozen meat market firm with an upward tendency. Butter.—Market quiet. We quote New Zealand salted 224/-, Australian g.a.q. 198/-, Danish 228/-, finest Australian salted 210/-, unsalted 214/-. Cheese.—Market firm; New Zealand coloured 96/-, white 98/-. Butter and cheese market has advanced owing to small supplies, but demand is much affected. THE HOME MARKETS. (By Telegraph.—Press Assn.—Copyright). (Australian and N.Z. Cable Association.) LONDON, October 5. Butter is firm, but the small supplies arc restricting business. It is expected that prices will be well maintained for another two months, as arrivals will be small until the new Australian product reaches the market. Danish is very firm at 230/-; New Zealand choicest, 220/•; exceptionally good, 224/-; unsalted, 226/-; Australian choicest salted, 206/- to 210/-; unsalted, 214/- to 216/-; cheese, strong. New Zealand white, 98/- to 100/-; coloured, 96/- to 98/-. Wheat is steady, but the demand is slow. Parcels are in small request at threepence to sixpence advance. Tallow, 1965 casks were offered, 962 being sold at late rates to an occasional threepence advance on lower qualities. Mutton, 41/-, 36/6; beef, 41/- and 36/-. LONDON, October 5. (Received October 6, 8.25 pan.) Wheat cargoes are firm with fair business at late rates. Parcels advanced 3d to 6d. There is slow trade on spot, and prices are generally firm. Flour is quiet. Australian ex-store, 37/6. Barley is well maintained. Oats are firm, but trade is slow. Beans are quiet, and unchanged. Peas are slow and tending easier. GOVERNMENT STOCKS. VICTORIAN CONVERSION LOAN. LONDON, October 5. For the Victorian conversion loan, upon which the holders of three million 4 per cents, were offered an equal amount of 5 per cent, stock, repayable in 1935-45, the applications totalled about £1,050,000. The London and Westminster Bank provides funds at 3} per cent, to pay holders of the unconverted balance.

THE METAL MARKET. LONDON, October 5. (Received October 6, 9.30 p.m.) Copper, on spot, £63 1/3; forward, £63 11/3. Lead, spot £25 2/6; forward, £24 6/3. Spelter, spot £33; forward, £32 7/6. Tin, spot £163 11/3; forward, £164 11/3. Silver, 35jd per ounce. FOREIGN EXCHANGE. (By Telegraph.—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.!

LONDON, October ct. 5. Par. Oct. 2. C Paris (fr) 25.22$ 67.93 58.10 Christiania (kr) 18.150 25.57 24.93 Stockholm (kr) 18.150 16.67 16.63 New York (doll 4.80 4.39) 4.32 g Montreal (dol) 4.80 4.39) 4.42 J Berlin (mark) 20.43 7850 9450 Copenhagen (kr) 18.156 21.53 21.47 Rome (lire) 25.22$ 102if 103g VALUE OF FOREIGN UNIT. Calcutta (rup) 16d 15Jd 15gd Yokohama (yen) 4$d 26Jd 26 Jd Hongkong (dol) 24d 31d Id