COMMERCIAL

Southland Times, Issue 18964, 11 June 1923, Page 2

COMMERCIAL

ADVANCE IN BRAN. Distributors, Ltd., report that the price of bran is now £6 10/- per ton, an advance of 10/- on reoent quotations. FROZEN MEAT MARKET. Messrs Dalgety & Co., Ltd., have received the following advice from their Head Office, London, under date of June 7: — Frozen Meat.—Quotation New Zealand prime crossbred lamb —Canterbury heavy 104 d, light Hid; North Island heavy 10id, light lO^d; demand for New Zealand lamb continues. Quotation New Zea’and prime crossbred mutton—Canterbury heavy 6id, light B}d; North Island heavy 6£d, light 7fd; demand for New Zealand mutton better. Quotation New Zealand prime ox beef—hinds 4£d, fores 2|d; demand for New Zealand beef fair. Market for New Zealand lamb and mutton firmer; beef weaker. Quotation good average quality crossbred lamb—Australian heavy Bid, light 9d; mutton —Australian heavy sd, light 54d; demand for Australian iamb better; mutton fair. Owing to increased supplies of chilled beef, frozen beef supplies have declined, more or less, to the level of a few weeks ago. Good quality frozen veal, 4id to 4§d. We anticipated prices for both mutton and lamb will improve. BUTTER AND CHEESE. Messrs Dalgety & Co., Ltd., report having received the following advice from their Head Office, London, dated June 7: — Butter. —Firm, owing to scarcity of offerings. We quote New Zea’and salted at 158/-, Australian good average quality 132/-, Danish 158/-, Australian finest at 152/-. Cheese.—Very quiet. We quote New Zealand white 90/-, coloured 88/-. The c.i.f. price of Canadian cheese is 86/-. LONDON WOOL SALES. Messrs Dalgety & Co., Ltd., report having received the following advice from their Head Office, London, under date of June 7:—“The next series of public sales will be held from June 26 till July 20. The list of arrivals was closed on June 4. The following quantities of new wools are available: —Australia, 42,000; New Zealand, 73,000; Cape, 3000; Punta Arenas, 18,500.” DUNEDIN MARKETS. DUNEDIN, June 9. Very little milling wheat is now on offer, and although a number of farmers were in town for the Show, very few brought in samples of wheat. Any lines of good quality are readily sold to millers at full rates, but wheat that is soft in condition is hard to place. There is a firmer demand for fowl wheat, following on shipping inquiries. The local price is 4/2 per bushel, sacks extra, ex truck, Dunedin. The following are quotations for produce to be paid to farmers at country stations, sacks extra, unless otherwise stated: Wheat, Tuscan 5/1J; Hunters, 5/3s; Pearl, 5/ss. Dunedin millers’ prices are as follow: Flour, 2001 b, £l5 10/- per ton; 100’s, £l6 10/-; 50’s, £l7; 25’s, £l7 10/-. Bran, £5 10/- per ton. Pollard, £7 10/-. Oatmeal: 25’s, £2O; 200’s, £l9. Bran has been advanced 10/- per ton. The oat market is weaker, the result chiefly of Australian merchants ceasing to operate. The latest reports from Australia state that the drought is completely broken, and that there should not now be any danger of a lack of winter feed. This means that few oats will now be wanted for Australia. Inquiries from the North Island are chiefly confined to under-grade lines. The shipping price is 3/5 to 3/ss, for sound quality A’s, and 3/3 to 3/3$ for B’s, and local merchants are disinclined to accept any lower offer. The demand for good quality chaff remains steady, at £5 10/- per ton, sacks extra, ex truck. Few lots are on offer, but quite sufficient to meet the demand. Medium and poor quality is still slow of sale at £3 10/-. to £4 per ton, sacks extra, ex store. It is noticeable that most of the chaff coming to hand has been damaged through the heavy rains and a good quantity has been rejected as a result. The shipping inquiry from the North Island has fallen right off, as Auckland merchants are now securing their requirements from Australia. There appears to be an anomaly in the New Zealand Customs tariff, as the Australian chaff is being landed in Auckland free of duty, whereas oats from New Zealand to Australia have to bear a duty. Australian chaff is being landed in Auckland at £7 15/- per ton. Another anomaly is that the shipping companies are carrying chaff at a cheaper rate from Melbourne to Auckland than from southern ports to Auckland.

Victorian-grown potatoes are now on offer to the North Island at about £lO per ton, f.0.b., s.i., Melbourne, and even with a duty these can be landed in the north at the price which southern merchants are asking. Auckland merchants appear to be more inclined to take the Victorian tubers than the southern-grown potatoes, as they are of better quality. Good quality potatoes can be soln in the local market to-day at £ll per ton, sacks included, ex truck. GRAIN AND PRODUCE. SOUTH CANTERBURY. 1 (Special to the Times.) TIMARU, June 9. Wheat is in good demand, and all classes of nulling v»huat are mo.iirg at the full fixed prices, which are 5/0$ for Tuscan, 5/3$ for Hunters and 5/6_- lor Vc-1 et, i.0.b., sacks extra. There is a better inquiry for fowl wheat, which is quoted at 4/- to 4/J. for good whole lines and 3/6 for broken seconds. The oat market is dull and prices are eas:er. Value.- are: A Gartons 2/10 to 2/11 and B Gartons 2/8 to 2/9. Light Algerians and Lua feed are worth 2/b to 2/7. There is a good demand for seed samples of Algerians and Duns for shipment at 3/- to 3/3. Chaff, in sympathy with the oat market, is easier at £4 x5/6 at country stations for gcod bright quality, sacks found by buyers. Linseed is selling at £l6 to UG 10/- for f.a.q., country stations, couble bags, sacks exiia. JJainaged and inferior samples are worth £lO to £l2.

Number one partridge peas are bringing 7/- to 7/3 per bushel on trucks, country stations. Undergrade lines are plentiful, and are quoted at 6/- to 6/6. Good white table potatoes are worth £7 10/- to £7 15/-, on trucks, sacks in. Redskins are quoted at £7. A demand is now arising for seed potatoes. Shipment to the North Island for this month will be heavy. Ryegrass is \ery scarce. Machine drecsed is worth 7/- to 7/6 per bushel for 281 b seed, and mill dressed lines are quoted at 4/to 5/6, according to samples. Cocksfoot is dull with very little demand. The demand for white clovers has eased off, from lOd to 1/- per lb being the prevailing price. Cowgrass is firmer, 8d to 10$d being paid from the shelter. FRUIT MARKETS. AUCKLAND. (Special to the Times.) AUCKLAND, June 9. Prices are slightly easier at the fruit market, supplies of apples and pears being very heavy. The principal lines in apples were Stunners, Dougherty, and Delicious, and in pears, Winter Cole, Clairneau and Nellis. The following prices were realised—Tomatoes (hothouse) 6d to 1/- per lb, outdoor 4/- to 10/- per case, according to quality; passion fruit, 8/- to 12/-; lemons, graded 12/- to 18/-, ungraded 6/- to 10/-; Cape gooseberries, 3sd to 5d per lb; hothouse grapes 1/3 to 2/3 per lb; tree tomatoes 4/- to 6/- per case; Island oranges, repacked 12/- to 15/-; ripe bananas, 15/- to 25/-; pine-apples, 12/- to 15/-; Australian grapes, 10/- to 15/-; apples (cookers), 4/- to 7/-.

dessert medium quality 3/- to 5/-, Stunners 6/- to 8/-, Dougherty 4/- to 6/-, Delicious 7/- to 11/-, and other varieties in proportion. CHRISTCHURCH. (Special to the Times.) CHRISTCHURCH, June 9. All classes of vegetables were in fair supply this week. The demand was good and prices all round were firm. A novelty in the way of hothouse-grown French beans was on the market yesterday. They realised up to 1/5 a lb. The price of dessert apples hardened slightly this week, and Winter Cote and Winter Nelis pears were also in demand and sold well. A small supply of hothouse tomatoes reached 1/2 a lb. A shipment of Cook Island oranges and bananas will be placed on the market on Monday. Oranges are in short supply at present, and they are likely to be dear on Monday. As bananas are in keen demand prices for these are also likely to be high. On Tuesday a shipment of 'Frisco oranges and lemons is due on the local market. Prices are likely to be fairly firm for the lemons. A small shipment of pines, passions, and mandarins is expected from Sydney about Thursday. Quotations are as follows:—Apples, Nelson, per case 6/- to 7/-; apples, local, per case 7/- to 8/6; apples, cooking, per case up to 6/-; lemons, ’Frisco, per case 47/6; oranges, Valencias, per case 37/6; passions, Auckland, per case 15/-; pears, cooking, per case up to 4/-; pears, dessert, per case up to 7/6; tomatoes, seconds, per lb 8d; tomatoes, dessert, per lb, 1/2; walnuts, per lb 9d to lOd; beans, French, hothouse, per lb 1/5; beest, per dozen bundles, up to 1/-; cabbages, per dozen up to 6/-; cauliflowers, per dozen up to 9/-; carrots, per dozen up to 1/3; celery, per bundle, up to lOd; leeks, per bundle up to 6d; lettuce, per dozen, up to 2/-; marrows, per dozen up to 6/-; potatoes, per sugar-bsg, 3/- to 3/6; onions, local, per sugar-bag 2/- to 3/-; parsnips, per dozen, up to 1/4; potatoes, per sack, up to 16/-; pumpkins, per lb, sd; spring onions, per dozen, up to 1/-; swedes, per sugar-bag, 1/9 to 2/-. DUNEDIN. DUNEDIN, June 9. Heavy supplies of dessert pears have reached the market from Otago Certtral and Oamaru. In almost every case the fruit has arrived in a ripe and over-ripe condition, and it has had to be cleared juickly at low prices. Fair-sized quantities of apples are reachI ing the market, and stocks held there are now very heavy. Cookers meet a fair inquiry, also choice Delicious, Cox’s Orange Pippins, and Cleopatras. Other varieties are in over supply, and are slow of sale. The following are the latest prices— Apples—Dessert Jonathans, 5/- to 7/- per case; Delicious and Cleopatras, 8/- to 10/per case for prime; cookers, 4/- to 5/6 for best; medium, 3/-; inferior, 2/- to 2/6. Pines, to 22/-. Tomatoes —Local hothouse, to 1/6. Grapes—Local, 1/- to 2/6 per lb; Victorian, 30/- per box. Lemons —American, 45/- to 50/-'; Adelaide, to 23/-. Oranges—lsland repacks, 25/-; 20/- as landed. Pears—Dessert, lsd to 2d for best; small, 2/- per case; cooking, Id to lsd per lb. Cauliflowers, 8/- to 10/- per sack; loose, 2/- to 7/- per dozen. Cabbages, 3/6 to 6/6 per sack; medium, 2/- to 2/6; inferior, unsaleable; choice, 3/- per dozen. Lettuce, 1/- to 1/6 per dozen. Beetroot, 1/- to 1/4 per dozen. Parsnips, 1/6 per dozen bunches; 9/- per cwt. Carrots, 1/per dozen bundles; 7/- per cwt. Pumpkins, 12/- per sack. Marrows, 7/6 per sack. Pie melons, 14/- to 16/- per cwt. COMPANY REPORTS. PERPETUAL TRUSTEES, ESTATE, AND AGENCY COMPANY. The directors of the Perpetual Trustees Estate & Agency Co., in submitting the thirty-ninth annual balance-sheet, report that the profit for the past year amounted ’to £4683 12/5. Added to £4510 4/9 (being amount brought forward from previous year, £5344 1/2, less income tax £BOB 16/5, and a donation of £25 to the Otago Agricultural and Pastoral Society), this shows an available balance of £9193 17/2. Out of this an interim dividend at the rate of 15 per cent, per annum on the paid-up capital of £15,000 was paid for the half-year, absorbing £1125, and the directors recommend that the balance, £BO6B 17/2, be dealt with as follows:—Payment of a dividend at 15 per cent, per annum, for half-year ended April 30, £1125; bonus to staff, £149 10/7; transfer to reserve fund to pay bonus dividend of 2/- per share, to be applied in meeting a call of a similar amount per share, £2500; to reserve fund, £1000; to carry forward to next year (subject to income tax for year just ended), £3294 6/7.

STOCK EXCHANGES. (Per United Press Association). DUNEDIN, June 9. Sate on ’Change: Waihi, 27/3 (2). Sales reported:—National Bank, £6 15/6; Bank of New South Wales, £4O; Union Bank, £l4 16/-; Waihi, 27/-; Bank of New Zealand, 61/- (2); P. &0. (deferred stock), £330. CHRISTCHURCH, June 10. Sales reported:—Christchurch Gas, £8 10-. Sales on ’Change:—Crown Brewery, £2 13/-. LONDON MARKET REPORTS. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, June 9. (Received June 10, 5.5 p.m.) Cotton.—July, 14.89 d. Rubber.—Para, 14$d; plantation smoked, 14$d. Jute.—June-July, £2B; new crop, AugustSeptember, £27 10/-. Copra.—June, £25 15/-. Linseed Oxi.—£4s. Turpentine.—lo2/- per cwt. Sheep.—Canterbury, light Bsd, Bd, heavy 6£d; North Island, light Bd, medium 7sd, heavy 6}d. New Zealand ewes, ssd; Australian, firsts 5Jd, seconds ssd; Patagonian, heavy ssd, ewes sd. Lambs.—Canterbury, light and medium, llsd, heavy lOjtd, seconds lOid; North Island, firsts 10$d, seconds 9-Jd; Australian, firsts 9sd, seconds 9d. Frozen Beef.—New Zealand fores, 2sd; chilled Argentine fores, 3sd, hinds 7sd; Uruguay fores, 3sd, hinds 6|d. Others unchanged. WOOL SALES. LONDON, June 8. (Received June 9, 5.5 p.m.) At the wool sates at Hull there was a good attendance. France was buying keenly and was the principal operator. The prices generally were on a parity with those at the London closing sales.