COMMERCIAL

Southland Times, Issue 18963, 9 June 1923, Page 2

COMMERCIAL

BRAY BROS. Messrs Bray Bros., Ltd., auctioneers, etc., Dee street, report as follows: Supplies of fruit are still plentiful, and prices are very reasonable. Apples, choice quality dessert, such as Delicious and Cox | Orange Pippin, from 10/6 to 13/6 per I large case; Jonathan, Scarlets, etc., 7/- to 10/- per case, aocording to quality; cooking apples, 5/- to 7/- per case; pears, Winter Nelis, to lb; other varieties from lid per lb upwards; quinces, small supplies to 3d lb; oranges (to arrive), navels 28/-; walnuts to 1/1 lb; cabbages, 2/6 dozen; swedes, 2/6 per bag; carrots, Id lb; parsnips, Id to IJd lb; potatoes, 12/6 per cwt; prime quality table are in demand; onions, 6/- to 7/- per bag; wheat, 18/- per overweight bag. We have plentiful supplies of oats, chaff, sorrell at current market rates. Molasses, 7/6 per tin. Bacon, Hid per lb. Rabbit traps, 32/6 dozen. Cow-covers, 12/- to 17/6. Horse-covers, English duck, 35/-, green flax (English), 37/6 (guaranteed wear). Honey, 60 tins 30/-, 101 b tins 6/- to 7/-. Olearia trees, 3/6 bundle; orders taken for quantities. New timber from 15/- to 16/- per 100 ft. One Darracq motor delivery, £lOO. Furniture.—We have had satisfactory sales of duchess chests, bedding, and linoleum, and other lines. A few articles of secondhand furniture, good as new, and a range of rugs at bargain quotations. We specialise in kapok beds, pillows, and bolsters. Our furniture department in Spey street invites inspection, and is always ready to quote low prices. Land Department.—2oo acres with fourroomed houes, outbuildings, together with plant comprising traction engine, ploughs, discs, horses, drays, harness, 25 stock, etc., £2260 walk in walk out. THE RIALTO. Messrs William Todd and Co., Ltd., report the following sales at their weekly market on Friday, June 8: Poultry.—Good demand; hens, 1/5 to 2/7; roosters, 2/4 to 3/9; White Leghorn pullets, 4/- to 10/3; 2nd year hens, 2/8 to 3/6; Indian Runner ducks, 3/6 to 4/8; drakes, 1/11 to 2/6; Black Orpingtons, 3/« to 4/-; 8.0. pullets, 4/- to 10/-. Pigs.—Prices slightly better; small weaners, 5/- to 7/6; weaners, 9/6 to 11/6; small stores, 13/6 to 17/-; stores, £1 to £1 5/6. Horses.—Spring-carter, £l6 5/-; gelding, £6 10/-; spring-cart mare, £33 10/-; pony, £5 5/-. Motor car, £135; s.f. plough, £l3 10/-. Produce.—Potatoes; market firm; prime quality, £l2 10/- per ton; onions, £7; chaff (prime), £5; straw, £4 5/-; wheat, 16/- to 18/6; oats, 12/6 to 16/-; barley, 12/6; linseed, 17/6; sorrell, 5/6. Miscellaneous.—Barb-wire, 30/- to 35/cwt; No. 8 galvanised wire, 26/- cwt; rab-bit-netting, 23/6 to 28/- coil; fencing posts, £6 hundred; horse-covers, 30/- to 38/6; cow-covers, 16/- to 20/-; Ceylon tea, 2/6 to 2/11 lb; rock salt, 9/- cwt. NOTE.—Commencing next Saturday, our weekly market will be held every Saturday, starting at 10.30 a.m. D. W. McKAY, LTD. Messrs D. W. McKay, Ltd., Exchange Mart, Invercargill, report as follows: Bacon Pigs.—Market over-supplied at present, and until the present stock of cured bacon is clear demand is likely to be weak. Produce.—Bran and oatdust are still short, but we can supply—pollard, 18/6 per bag; table potatoes from 12/- to 15/- cwt; seed potatoes wanted, particularly early varieties. Fowl wheat, firm,' 16/- to £1 per bag; oats, 10/- to 14/-; cow chaff, 2/to 3/-; prime chaff, £5 5/-; Meggitt’s Meal, 7/6 per bag; swedes, 2/6 per bag; Canterbury onions, 8/- cwt, or 7/6 per bag, Australian onions to arrive, approximately £lO per ton. Fruit.—Market sluggish and there is a large accumulation of cooking and dessert apples on the market, which are moving slowly. Prices are very slow, and we today sold some beautiful samples of dessert apples at 6/- to 8/- per case. We, however, anticipate the market will firm from now on. First-class dessert pears, short of requirements, and good lines realising from 2d to 3d per lb; cooking apples, 5/- to 10/-; extra choice dessert apples, 10/- to 14/-. Pines, passions and mandarins an* ,due next week, also lemons and bananas are expected in about 10 days’ time. General.—Ford lorry, £B5; gent’s bikes, £2 to £7; Singer sewing machine, drophead, £7; muttonbirds in kits, 8d; honey, 101 b tins 7/6; Exchange Tea, 14/- per 51b box; also horse-covers, 40/- to 45/-; cow-covers, 11/6 to 21/-.

Furniture.—Special quotations for floor coverings have attracted good business this week. We have some new consignments of hearthrugs, hall runners, and sofa squares; also good showing of new furniture, including large roller-top desk, £l2; seagrass chairs from 15/- to 65/-; dining suite from £l2 12/-: bedroom suite from £lO 10/-.

WINTON STOCK SALE. The Southland Farmers’ Co-operative Association, Ltd., report a small entry of stock at Winton sale on Thursday. The demand for all classes of store sheep was very firm, and prices all round were from 2/- to 3/- better than those ruling at the last sale. We cleared our entry at very satisfactory prices. The following are the sales:— Sheep.—96 f. and f. ewes, 15/-; 24 fat ewes, 20/-; 61 empty ewes, 14/9; 33 fat ewos, 18/5; 60 fat ewes, 18/7; 120 2-tooth wethers, 26/-; 60 do., 25/11; 114 do., 25/10; 30 4 and 6-tooth ewes, 35/2 (top price) ; 20 2-tooth wethers, 27/2; 49 f. and f. ewes, 14/1; 40 f. and f. ewes, 14/9; 66 ewe lambs, 24/1; 15 do., 11/-; 10 cull ewes, 9/-; 12 fat ewes, 14/-. Cattle.—One fat cow, £6 17/6; 1 cow, £1 5/-; 1 do., £2 15/-; 1 do., £3; 2 bulls, £1 5/-; 2 do., £1 10/-; 1 cow, 10/-; 1 do, 15/-; 1 heifer, £1 12/6; 3 steers, £4 15/-; 1 do., £3 15/-; 1 cow, £2. Horses.—One mare, £37; 1 do., £2O; 1 do, £25 10/-; 1 do, £l4 10/-, 1 do, £10; 1 gelding, £4 15/-. Implements.—One dray, £l6; 1 springcart, £27 10/-; 1 do, £7 10/-; 1 set disc harness, £5. Harness and sundries at full market rates. CANTERBURY MARKETS. CHRISTCHURCH, June 8. The week has, generally speaking, been a quiet one, practically the only line showing any activity being potatoes, which have firmed. During the last few days there have been quite a lot of inquiries, but very lew sellers, farmers preferring to hang on to their stocks in case prices should advance still higher. Within the last few days a number of inquiries have been coming in from Wellington, principally for Dakotas. Quite a trade of fair dimensions has been going on recently between Lyttelton and a North Island port. With regard to the Auckland trade, it is not considered likely that the Kekerangu will take a great quantity of potatoes this trip. If she does not, it is probable that- the Wingatui will not call at Lyttelton. No change is reported in the position regarding milling wheat, but fowl wheat has gone up within the past day or two. It is now quoted at 4/7, f.o b, the highest figure reached this season. Oats are quoted at late rates, no change having taken place in quotations for some considerable time now. Chaff is, if anything, a little weaker. Peas continue to be firm at late rates, practically all stocks being in the hands of merchants. Barley is stagnant. With regard to seeds, no change has taken place in the market since our last report. MEAT PRICES. PRODUCERS’ BOARD REPORT. WELLINGTON, June 8. The New Zealand Meat Producers’ Board advises that the following prices are being offered on June 7, 1923: Auckland.—Wethers, 641bs and under, 5Ad; prime woolly lambs, 421bs and under, Bid.

Poverty Bay.—Wethers, 64Ibs and under, ssd; prime woolly lambs, 421bs and under, BAd; 431bs and over, 7sd; second quality lambs, 7sd. Hawke’s Bay.—Wethers, 651bs and under, s£d; prime woolly lambs, 42lbs and under, 9d; 431bs and over, 8d; second quality lambs, Bd. Wanganui.—Wethers, 64Ibs and under, sfd; prime woolly lambs, 421bs and under, 9d; 431bs and over, 8d; second quality lambs, Bd. Wellington.—Wethers, 641bs, s|d; prime woolly lambs, 421bs and under, 9d; 431bs and over, 8d; second quality lambs, Bd. Canterbury.—Wethers, 641bs and under, 6 prime woolly lambs, 421bs and under, lOd; second quality lambs, 9Ad. Southland. —Wethers, 561bs and under, 6d; prime woolly lambs, 421bs and under, 9&d; second quality lambs, B§dSTOCK EXCHANGES. |Per United Press Association). CHRISTCHURCH, June 8. Sales reported:—Bank of New South Wales, £4O; Union Bank, £l4 16/-; Huddart Parker £2 4/3; Waihi, £1 6/9, £1 7/(two parcels). Sales on ’Change: Union Bank, £l4 16/-; Kauri Timber (cum. div.), £1 10/-; New Zealand Fanners’ Co.-op. (£2 paid), 16/-; Electrolytic Zinc (pref.), £1 11/6. AUCKLAND, June 8. Sales: War Loan, 1930, £97; Bank of New Zealand, 62/-, 61/9; Northern Steam, 14/8, (contrib.) 72/-; Waihi, 27/6, 27/-, 27/3; Grand Junction, 7/6. SUGAR FOR AUCKLAND. AUCKLAND, June 8. Between two and three thousand tons of Australian sugar is arriving in Auckland to-day by the Colonial Sugar Company's steamer Fiona. FERTILISER CO.’S PROFITS. AUCKLAND, June 8. The New Zealand Farmers’ Fertiliser Company last year made a net profit of £7246. After providing £14,313 for depreciation and £4079 income tax, £7246 is carried to the profit and loss appropriation account. NEW ZEALAND BUTTER. EXTRAORDINAY DISCREPANCY IN PRICE. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) MELBOURNE, June 8. (Received June 8, 7.15 p.m.) There has been considerable comment on the fact that New Zealand butter is quoted in London' at less than 1/5 per pound, whereas in Melbourne the quotation is 2/-, and the price in shops 2/4 and 2/5. AUSTRALIAN MARKETS. MELBOURNE, June 8. At the hides sale competition was slightly irregular and the market generally ruled a farthing lower on previous values, notably on lights. Stouts and hides with substance were unchanged. Barley, 4/- per lb; oats, 3/8 to 3/9; potatoes, £9 to £10; onions, £4 to £4 5/-, LONDON MARKETS. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cablo Association). LONDON, June 8. (Received June 8, 8.15 p.m.) Butter.—Firm demand and improving. Choicest New Zealand 156/-, and for exceptional lots 158/-. Australian choicest scarce, quoted at 148/-, 150/-, and for exceptionally good 152/-. Cheese.—New Zealand, 88/-, 90/-. Sugar.—63/IJ per cwt. Wool.—Bradford wool market is very dull. 64’s, 5/2 per lb; 60’s, 4/8; sfl’s, 3/-; 56’e, 2/3j; 46’s, 1/6; 40’s, 1/4. Wheat.—Cargoes are firm, and 6d dearer in sympathy with the advance in America, and a good consumptive demand. Steamer parcels are in fair request at prices 6d higher. Spot trade is quiet. Australian, ex-store, 55/-. Flour.—A fair inquiry; Australian, 36/to 37/3.

Oats.—Fair demand. A grade Gartons, on spot, 37/- to 38/6.

Barley.—lnactive. New Zealand malting, on spot, 43/- to 46/-. Peas.—Slow sale. New Zealand Maples, 90/- to 95/-; Blues, 320/- to 340/-; Tasmanian, 340/- to 400/-. Beans—Quiet. New Zealand, 51/- to 53/-; Tasmanian, 340/- to 400/-. GOVERNMENT STOCKS. LONDON, June 8. (Received June 8, 8.15 p.m.) Consols, £59 5/-. Commonwealth Loans, £lOl, £lO6 5/-. Victorian, £97 5/-, £74 10/-, £Bl, £lO3 10/-. New South Wales, £9l 5/-, £B2, £BO 10/-, £lOl, £lOB 15/-, £lO5. Queensland, £97 10/-, £96 15/-, £BB 15/-, £72 5/-, £lO5 7/6. New Zealand, £95 7/6, £B5 5/-, £77 12/6, £lll 15/-. South Australian, £B5, £65 10/-, £lOB 17/6. Tasmanian, £B5 10/-, £7B 15/-, £lOB 15/-. West Australian, £BB, £Bl, £lO4 5/-. WAIHI SHARES. LONDON, June 8. (Received June 8, 8.15 p.m.) Waihi shares, buyers 23/9, sellers 26/-. LOAN FOR AUSTRIA. LONDON, June 7. (Received June 8, 7.15 p.m.) The Bank of England is issuing £14,000,000 worth of 6 per cent, bonds guaranteed by the Austrian Government, of which £3,119,000 has been issued to the British Government in satisfaction of what Austria owes. The balance of £10,881,000 is offered for public subscription at £BO per £lOO, redeemable in 1933-45. The issue has been underwritten. WEST AUSTRALIAN LOAN. LONDON, June 8. (Received June 7, 5.5 p.m.) Dealings have commenced in the West Australian loan, small applicants receiving allotments in full, others about 90 per cent. BRITAIN’S LEAD IN REFRIGERATED SHIPS. Evidencing the attention which Great Britain is giving to the refrigerated steamship trade, there is now in operation a total of 305 steamers equipped with refrigeration, and having a total of 65,555,500 cubic feet of capacity. In addition, a report prepared by W. Weddel and Co., Ltd., of London, says there is under construction 25 steamers which have another 4,116,500 cubic feet of space. The carrying capacity of the ships now in operation, it is\ added, calculated at 90 cubic feet per 2240 pounds, is 682,870 tons, at 100 cubic feet 655,555 tons, and at 105 cubic feet 624,338 tons of frozen meat. Cold storage facilities ashore are shown with London having a total capacity of more than 15,000,000 cubic feet and in the provinces more than 23,000,000, or a grand total of 38,300,000. Steamers of the Castle Line, the Commonwealth and Dominion Line, the White Star and Cunard services, and the Lamport and Holt Lines are listed with the others as being among those which have steamers of the greatest capacity. Steamers listed as having a capacity of more than 400,000 cubic feet include the following: The Armagh, 406,500 feet, Canonesa 456,000, Cordilerra and Corinald, 400,000 each, Doric Star 439,000, El Paraguay© 418,500, El Uruguayo 416,500, Harwicke Grange 481,000, Hurunui 412,000, La Rosanna 404,500, Manchester City 408,500, Marquesa 464,500, Niagara 440,000, Nariva 445,000, Natia 445,000, Navasota 440,000, Nebraska 435,000, N-ichteroa 435, Northumberland 402,500, Princessa 473 500 Tasmania 438,000. ’ ’

THE SUGAR SHORTAGE. At the present time merchants, manufacturers, and traders generally, are being subjected to the drastic cutting-down of their orders for sugar owing to the shortage of supplies (writes “A Merchant” in the correspondence columns of the New Zealand Herald). In fact of the repeated published statements that the Government had made arrangements by which full supplies of sugar would be available up to the end of June, 1923, the present position is most unsatis- ! factory, and demonstrates once again the j folly of Government interference in business. But for the continued Government control and retention of a duty which was imposed solely to protect an admittedly bad contract made with the Colonial Sugar Refining Company, sugar would have been imported, and the present rationing of supplies been avoided. A few weeks ago the Prime Minister published a statement to the effect that the present control would cease at the end of June, and on May 25 the newspapers contained a statement that control will cease about August next, but the Prime Minister does not know whether the provisional duty would also be removed. Consequently, merchants are in a position of uncertainty. It is well known that the Fiji 1923 crop is going to be a very small one. Consequently, supplies to New Zealand will be very limited for the forthcoming 12 months, and sugar will have to be imported, so what justification there can be for retaining that provisional duty is beyond comprehension, as it can only increase the price to the consumer. Therefore, it is to be hoped the Government will see the wisdom of removing it when Parliament meets. The present New Zealand price of £3O, Auckland, for the very small quantities of sugar available is below world’s parity, but it would appear safe to say that upon the expiry of the contract and control in June or August next, the price of sugar will be further increased, as owing to the Government having had to purchase supplies from Java, the price was quite recently increased by £2 3/- per ton, bo removal of the duty is absolutely necessary if merchants are to be placed in a position to protect their interests. It certainly looks as if the time has come for the Government to realise that war conditions are a thing of the past, and that control, embargoes, and similar irritations should be done away with, so merchants will appreciate a definite statement regarding the duty on sugar.