COMMERCIAL

Southland Times, Issue 18976, 25 June 1923, Page 2

COMMERCIAL

THE RIALTO. Messrs William Todd and Co., Ltd., report the following sales for market day:— Poultry.—Good entry; fair demand. Hens, 1/8 to 3/3; pullets, 3/- to 6/1; cockerels, 1/5 to 3/3; ducks, 3/2; drakes, 2/to 2/6; geese, 3/-. Pigs.—Owing probably to wet weather, we had only a small entry, and prices were a little better than last sale. Small weaners, 5/6 to 7/-; weaners, 8/9 to 12/-; stores, 16/- to 22/6. Horse, cart, and harness, £3O; springcart gelding, £l4; aged draught mare, £6 5/-; old hack, £2 15/-. Produce.—Potatoes, £l2 10/-; onions, £7; Victorian onions (to arrive), £l2; chaff, £4 10/- to £5; straw, £4 5/-; hay, 2/6 to 3/6 bale; wheat, 15/- to 19/6; oats, 13/to 15/-; barley pollard, 17/-; linseed, 17/6; sorrell, 5/6. Miscellaneous. —English garb wire, 34/cwt; Canadian barb wire. 30/- cwt; English No. 8 galvanised, 26/- to 27/- cwt; fencing posts, £6 hundred; rabbit netting, 23/6 to 28/- 50yd coil; rock salt, 9/- cwt; horse-covers, 30/- to 38/6; cow-covers, 13/6 to 20/-; mutton-birds, 9d: Ceylon tea, 2/7 to 2/11 lb. • D. W. McKAY, LTD. Messrs D. W. McKay, Ltd., Exchange Mart, Invercargill, report as follows: Bacon Pigs.—Demand normal, with few offering. Prime rolled bacon, 1/1 lb. Produce.—The market continues steady for chaff, prime qualty realising £5 to £5 5/- per ton, ex store; cow chaff, 3/- per bag. The market is very firm for table potatoes, with an upward tendency. Good seed has a keen inquiry and anyone with lines for sale would be wise to communicate with us without delay. Approximate prices:—Table potatoes, £l2 to £l2 10/-; wheat, 16A to 19/6 per sack; pollard, 18/6; bran and oatdust unprocurable; pressed straw, 4/- per bale; Meggitt’s meal, 7/6; onions, Canterburys 7/- per bag, beet Melbourne, £ll per ton. Fruit.—The market continues heavily supplied with apples and prices ruling very low; good dessert pears scarce and prices are firm. The Moeraki, from Melbourne, and the Whangape, from Sydney, bringing full supplies of citrus fruit. Poorman oranges are due from Auckland next week. Approximate prices: Dessert apples, 6/- to 12/-, cooking apples to 2Ad; pears, 3d to 4d choice dessert, cooking to 2Ad; lemons, 30/-; oranges, 28/-; Poormans to arrive; ■ mandarins, 25/-; pines, 25/-; passions, 24/-; i marrows to 7/6 per sack; cabbage, 3/- per dozen; carrots, Id per lb; parsnips, lid ; per lb. General.—Exchange Tea, 14/- per 51b box; horse-covers, 35/- to 45/-; cow-covers, 11/6 to 21/-; barb wire, 34/-, plain 27/-. Furniture.—A busy week in our department of new furniture, and intending buyers are invited to inspect our show of carpets, suites and linoleums. BRAY BROS. Messrs Bray Bros., Ltd., auctioneers, etc., report as follows: Fruit.—Heavy supplies of apples, Delicious, Cox Orange Pippin, 10/- {,O 13/-, according to quality; Jonathans, Scarlets, Democrats, Statesmen, Pearmin and Sturmera from 6/6 to 9/6 case; other varieties and cooking apples from 4/6 to 7/- per dump case; pears, best dessert Winter Nelis and Cole to 4Ad lb, other quality from 2£d to lb, cooking pears 2sd to 3d lb; quinces to lb; oranges, Navel 28/-, “common” 26/-; Adelaide lemons, 27/6; jam melons, 24d to 3d lb. Vegetables— Parsnips 4b»>- einrrots, Id to lid lb; swedes, 2/6 bag. Produce—Potatoes, table 13/- to. 14/6 cwt.for best quality; seed potatoes, 15/-.onions, 6/- to 7/- bag; wheat, 177- to 18/6 sack; oats up to 13/6 sack; chaff, £4 to £5 10/-; sorrell, 5/6; oatdust, 6/- sack; molasses, 7/6 tin; bacon, 101 d lb; rabbit traps, 32/6 dozen; cowcovers,. 15/- to 17/6; horse-covers; 32/6 to 37/6 (English duck in white and green) ; honey, 60’s 29/6, 10’s 6/- to 7/-, s's 4/-. Olearia and Escalonia trees, 3/6 bundle; orders taken for “forward” delivery. Gig, rubber-tyrM guaranteed, £45. Furniture.—This Department is in Spey street, where we stock everything in the furniture line at less prices than elsewhere. We have just opened up som nice Axminster rugs, chairs, and new pattern linoleum. Land. —120 acres, 6-roomed house, stable, barn, cowbyre; milking plant, carrying 35 cows, £3O per acre; deposit, £lOOO. Bray Bros., Ltd. F. BOWDEN & CO. Messrs F. Bowden and Co. report heavy supplies of apples during the week. Good quantities of pears have come forward, but supplies are not equal to demand. Oranges are short, stocks have been cleared, and no prospect of any more till next week. We have good supplies of fowl wheat, potatoes, carrots, and parsnips. Cauliflowers are wanted. Jam melons and marmalade oranges are plentiful.

The week closed with prices ruling:— Dessert apples, Jonathans and Scarlets, 7/6 to 9/6; Delicious, 10/- to 13/-; Lord Wolseley, 7/- to 7/6; London Pippin, 8/-; Cleopatras, 8/- to 9/6; others cheaper; large green cookers, 7/-; pears, dessert, 2}d to 3Ad lb; cookers, 2|d lb; Poorman marmalade oranges, 12/6 to 16/6 case; Island oranges, 25/- to 26/- case; walnuts, 1/1 lb. Vegetables, Etc.—Parsnips, Id to 14d lb; Victorian onions, 10/- cwt; swedes, 2/- bag; table potatoes, 13/- cwt; carrots, 7/- cwt; fowl wheat, 18/- to 20/- sack. DUNEDIN MARKET REPORT. PRODUCE. DUNEDIN, June 23. Both the shipping and local chaff markets are quiet, and prices for prime have eased to £5 5/- per ton, sacks extra, ex truck. There is still an absence of shipping inquiries, and reports from the north state that owing to the heavy arrivals of Australian lines southern chaff will not be wanted for three or four months. Medium and poor quality is slow of sale at £3 10/to £4, sacks extra, ex store. Auckland reports that the chaff market is at the moment over-supplied as every southern steamer is bringing up large supplies, and the Kaituna has just arrived at Auck- • land from Picton with a heavy consign- | ment. Local merchants are unable to disi pose of all their purchases, and large quanI tities are being taken into store although ? ac low as £7 5/-, f.0.b., s.i., has been accepted for good, bright southern, ex Kekerangu, and £7 15/- for Blenheim ex Kaituna.' Southern prices have eased, and today’s quotations are nominally £7 10/- for good, bright oatsheaf southern, and £7 15/to £8 for Blenhe.m. There is no doubt whatever but that the pending importation of Australian chaff into Auckland has affected the chaff market throughout the whole Dominion, and it will be some time before local merchants will again be in the market for southern chaff. Arrivals of potatoes on the local markets arc not heavy and any good quality is readily saleable at up to £ll 10/- per ton, sacks included, ex truck. The shipping market, however, is not buoyant, and it is reported that Auckland merchants have purchased, 300 tons of Tasmanian tubers at £8 10/- per ton, f.0.b., s.i. Freight, duty, and other charges will bring the cost of these tubers to about £ll per ton. Good seed potatoes are in demand at high prices. Auckland reports as follows: Prices in the South Island have firmed very considerably, and prices to-day vary from £9 5/- to £9 10/- for f.a.q.’s and £lO to £lO 5/- for whites for prompt or July delivery’. I Fair quantities have arrived to this market I during the last four weeks, and with the arrival of the Kekerangu, there should be sufficient here now to last for the next 10 days. Sales, ex this steamer, have been made at £9 for f.a.q.’s, £9 2/6 and £9 5/Dakotas, and £lO for whites. Now that prices are getting so high in the south, local merchants (as in the case of chaff) have turned their attention to outside markets, and already some 300 tons of Tasmanians have been bought at £8 10/- f.0.b., s.i. These will arrive by the Kaitangata on a freight which may be leas than £1 15/- and ,

other charges including primage, duty, insurance, exchange and other charges and wharfage, will make the landed cost approximately £ll 10/- ex wharf, or equivalent to about £lO, southern New Zealand ports. It will be interesting to know what effect these importations will have on the potato position generally. Eggs show a further decrease in price. Current local wholesale prices are as follow: Chaff.—Good quality, £5 10/-; medium and light, £3 10/- to £4. Potatoes, £ll to £ll 10/-. Dairy’ Butter.—Bulk, 1/4s; pats, 1/4s; milled, 1/5. Melbourne onions, £lO per ton. I^ggs. —Stamped, 1/9; unstamped, 1/7. Bacon. —Rolls, 1/- per lb; sides, lid. Hams, 1/2; boneless, 1/3. FRUIT. Business has been fairly brisk in the fruit marts during the week. A .considerable quantity of cooking apples has passed through the marts during the week, the low prices creating a demand. In desserts Cleopatras are asked for. Other sound dessert varieties also meet a sound inquiry* but poor conditioned fruit has little demand. There are no first-class pears coming forward. No overseas fruit came forward this week. The Moeraki, which is due to leave Melbourne on Tuesday, will bring lemons and oranges for this market. It is expected that only a few bananas will be brought from Auckland by the Wingatui, and as a result this fruit will probably be short here for some time The market has firmed for oranges, and it is not likely 7 that any lines will arrive next week. Cauliflowers meet a good demand. Sound cabbages realise 5/- to 7/- per sack. The market is fairly well supplied with swedes. Carrots and parsnips have a good inquiry. DAIRY PRODUCE. Messrs Dalgety & Co., Ltd., report having received the following advice from their Head Office, London, under date of June 20:— Butter.—Market depressed. We quote: New Zealand salted 150/-, Australian, good average quality 140/-, Danish 150/-, Australian salted 146/-, unsalted 146/-. A considerable amount of New Zealand butter arriving is being put into cold storage. Cheese.—Very quiet, but’there is a temporary shortage. We quote, white 92/-, coloured 88/-, Canadian c.i.f. price 84/- but no buyers. MEAT MARKET. Messrs Dalgety & Co., Ltd., report having received the following advice from their Head Office, Ixmthn, under date of June 20:— Frozen Meat.—Quotation New Zealand prime crossbred lamb, Canterbury heavy 10$d, light 11 sd; North Island heavy 10$d, light 10$d; demand for New Zealand lamb continues. Quotation New Zealand prime crossbred mutton, Canterbury heavy 6id, light Bsd; North Island heavy 6sd, light 8d; demand for New Zealand mutton has been checked by increased prices asked. Quotation New Zealand prime ox beef hinds 4sd, fores 2|d; demand for New Zealand beef limited. Market for New Zealand lamb very firm; mutton firm; bbef nominal. Quotation good average quality crossbred lamb, Australian heavy Bsd, light 9sd; mutton, Australian heavy ssd, light 5Jd; demand for Australian lamb continues; mutton fair. MESSRS S. MANNING & CO. RE-ARRANGEMENT OF SHARE CAPITAL. (Special to the Times.) CHRISTCHURCH, June 23. It is proposed by Messrs S. Manning A Co., Ltd., brewers, of Christchurch, to distribute among its shareholders by capitalisation the sum of £24,000, being part of the undivided profits of the company standing to the credit of the reserve fund. In a circular letter to the shareholders the Board of Directors outlines the proposals and states that for greater convenience it would be well to take the opportunity of dividing the existing share capital of the company into five £1 shares instead of the £5 shares. The new £1 shares will be credited as having 16/- a share paid up thereon, being the existing amount called up on that share. The distribution of the reserve fund amongst shareholders means that each shareholder will be entitled to 4/a share. A call of 4/- a share will be made on shareholders and that sum being debited against the 4/- a share distributed will result in the shrareholders being entitled to their shares of £1 each as fully paid up. A meeting of shareholders is to be held on July 2, when a motion to amend the Articles of Association will be submitted in order that the distribution of capital may take place.

NEXT SEASON’S WOOL SALES. GISBORNE TO BE INCLUDED. GISBORNE, June 23. A meeting of over 100 woolgrowers today affirmed the decision of the Woolbrokers’ Association to hold wool sales in Gisborne on January 11 and February 8 next. The Woolbrokers’ Association, the Farmers’ Union and the Sheepowners’ Federation have been endeavouring to have Gisborne included on the roster, but without success until now, when it has been decided to hold the two sales mentioned, believing that sufficient buyers will attend to make the sales successful and establish Gisborne’s claim for inclusion. It is stated that 8000 to 10,000 bales will be required, and a satisfactory response has already been made by the growers. COAL CRISIS IN NEW SOUTH WALES. HOW THE SITUATION STANDS. Although outwardly the position on the Maitland coalfield remains unchanged, it is learned from unofficial sources (says the Sydney Morning Herald), that certain members of the executive of the northern i branch of (he Miners’ Federation strongly favour a resumption of activities, even j though this entails acceptance of the owners’ ; conditions. The opinion is expressed in ! well-informed circles that the decision of'the [ provisional council of the Australian Work- | ers’ Union (that unless there is an early I settlement of the coal dispute an appeal ' will be made for financial assistance to the j whole of the trades union movement) would have extremely doubtful success. It is known also that a few of the miners’ leaders have definitely expressed the opinion that it is futile to further prolong a struggle which can only end in defeat, and that the miners would, be well advised to return to work. In conversation with a Herald representative, a prominent union official stated that, while it was easy enough to gain popularity’ with the Maitland miners with strike talk and advice to “hold out,” what the situation really wanted was a leader with sufficient moral courage to impress on the men that they were playing a losing game, and should return to work. The Miners’ Federation, he said, had made a grave mistake in under estimating the proprietors’ determination to impose conditions of employment that are in vogue in every other industry, and that instead of admitting the error the federation was callously luring the men to disappointment. Continuing, he said that the federation was not without misgivings as to the support it would receive from other unions. There was not nearly the unanimity amongst the trades union movement in regard to the dispute that the more extreme of the miners’ leaders would have the men imagine. Although it might be rather a premature statement to make, he would not be surprised to see the miners return to work within a month. Cessnock, the largest and most progressive of all the towns on the field, is especially feeling the effects of the continuous loss of oyer £lO,OOO or more in wages every fortnight, apart from wages lost by railway men and others as a direct result of the strike. Many of the miners who have been paying off loans on their own homes are

1 forced to offer security in order to purchase food and clothing, and it will now take them a long while to get back to their original positions of comparative prosperity. STOCK EXCHANGE. (Per United Press Association). CHRISTCHURCH. June 23. Sales reported:—Bank of New Zealand (cum. rights), 61/6, 61/9; Goldsbrough Mort (cum. div.), 49/-; Huddart Parker & Co., 44/9; P. A O. deferred stock, £335; Manning’s Brewery, £6 12/6. Sales on ’Change: New Zealand Government 5$ per cent. Inscribed Stock (1933), £lOl 10/-. WELLINGTON, June >3. Sales: Huddart Parker (ordinary) £2 5/3., AUSTRALIAN MAIZE. PROTESTS AGAINST DUTY. (By Telegraph—Press Assn.—Copyright.) SYDNEY, June 23. A meeting of merchants passed a resolution requesting the Prime Minister to can cel the dumping duty on maize, or exempt contracts already made. The Graziers’ Association sent a protest against the duty to Mr Austin Chapman (Minister for Trades and Customs), as it would be prejudicial to stockowners, the drought not being sufficiently broken to obviate the necessity for hand-feeding. Mr Chapman, replying, said the Australian farmer had been placed at a disadvantage owing to competition by the South African maize-growers and by black labour, and in consequence of the freight reduction it would cost less to ship maize from South Africa to Australia than it would to bring local maize to the market. When relaxing the law during the height of the drought, he warned intending importers that any orders placed in South Africa would be at their own risk, especially when the operations wjre of a speculative character. At that time South African maize was sold locally at 6/6 to 7/- per bushel, now it was 5/-. The Tariff Board was advised that South African maize was being dumped to the extent of threepence per bushel, hence the necessity for a dumping duty. LONDON MARKETS. LONDON, June 23. (Received June 24, 5.5 p.m.) Cotton.—July, 15.06 d. Rubber.—Para, 14$d; plantation and smoked, 13jd. Jute.—June-July, £27 10/-. Copra.—May-June, £26. Linseed Oil—£44. Turpentine.—9o/- per cwt. Sheep.—Canterbury, heavy 7d; North Island, heavy, 6jd. Lamb.—Australian, firsts, 9sd; Argentine, seconds, Bd. Frozen Beef.—Australian fores, 3fd; hinds, ssd; chilled Argentine hinds, ssd; Uruguay fores 2sd, hinds 4|d. Others unchanged. Wheat.—Cargoes are dull owing to the heavy shipments. Buyers are inactive. Occasionally cargoes declined threepence. Parcels are quiet, *and have declined 3d to 6d. Australian cargoes and parcels afloat are both quoted at 49/-.