COMMERCIAL

Southland Times, Issue 19099, 17 November 1923, Page 2

COMMERCIAL

OTAUTAU STOCK SALE. (From Our Own Correspondent.) At the Otautau stock sale last week there was only a small yarding. Hoggets and fat wethers sold well, but the demand for Lambs and failing-mouth ewes was not keen. Some of the principal prices were as follows:—109 4,6, and 8-tooth ewes and lambs (all counted), 23/6; 30 hoggets, 26/-; 50 ewes and lambs, 16/-; 87 do., 12/3; 88 do., 16/3; 68 do., 15/6; 89 do., 17/3; 109 f. and f.m. ewes and lambs, 18/-; 100 fat wethers, 42/-; 150 store wethers, 30/-; 64 hoggets, 27/-. There was a fair demand also for store cattle. Fat bullocks sold at £9 to £8 10/-; fat cows, £6 and £7 10/-; good two-year-old steers, £4 10/to £5; yearlings, 35/- to £2 10/-. Dairy cows in full milk brought up to £lO, there being no demand for poorer sorts. ’ realised from 16/- to £l. WOOL MARKET. THE LONDON MARKETS. Messrs Dalgety & Co., Ltd., report having received the following advice from their head office, London, under date of November 14:— London Wool Sales.—The attendance of buyers generally is small and competition very animated. Continental buyers are the principal operators for Merinos. Yorkshire buyers competing for suitable lots. English buyers competing strongly for all crossbreds. Continent buying finer varieties. As compared with last sale's closing rates, Merino wools, greasy are unchanged and scoured are unchanged except short and faulty, which are Id to 2d lower. Halfbred wools unchanged; fine crossbreds Id to l|d higher; medium crossbreds Id higher; coarse crossbreds Id higher; halfbred scoured Id to 2d lower; fine crossbreds Id to 2d lower; scoured crossbreds of other descriptions unchanged. Slipe wools Id to 2d higher, except particularly fine crossbred lambs Ad to Id higher, coarse and medium lambs’ wool unchanged, inferior lambs’ ir- , regular occasionally. 128,000 bales free wool and 61,000 B.A.W.R.A. were catalogued and 170,000 sold, including 12,000 South American buyers, 64,000 to the Continent, 105,000 Home trade, 1000 to America, 26,000 carried forward, of which 17,500 has not been offered. The next public sales will take place on December 3, with a break on December 6 and 7 owing to elections. The range of

Messrs Murray Roberts & Co., Ltd., are in receipt of the following market cablegram from their London agents, dated November 14:-t-“Sales closed with a very firm tone. Compared with opening rates of present London sales, greasy Merino best descriptions advanced 5 per cent.; medium to good, par to 5 per cent, advance. Best scoured Merino, opening rates are barely maintained; medium to good scoured Merino declined 5 per cent.; inferior scoured Merino advanced 5 per cent. Crossbred greasy comeback advanced 5 per cent.; fine par to 5 per cent, advance; medium and coarse advanced 7A per cent, to 10 per cent.; scoured par to 5 per cent, advance. Fine crossbred slipe advanced 10 per cent. Medium and coarse crossbred slipe advanced 5 per cent.” Messrs Murray Roberts & Co., Ltd., have received the following w r ool market quotation from their London agents, dated November 14:— Opening present

CHRISTCHURCH WOOL SALES. DALGETY’S REPORT. Messrs Dalgety & Co., Ltd,, report having received the following advice from their Christchurch branch:— Wool Sales.—Selection good; principally fine wools. Keen competition, passings light. Local mills are buying. Good competition for American and Continental sorts. Fair competition from Bradford buyers. Keen demand for bellies and pieces generally. The following table shows range of prices:— 6/64 Merino—

BRADFORD WOOL SALE. (By Telegraph—Press Assn.—Copyright.) LONDON, November 15. At the Bradford wool sale crossbreds were strong and a shade firmer. Merinos were slack; 65’s, 594 d; 60’s, 52d; 56’s, 374 d; 50’s, 27d; 46’s. 19d; 40’s, 18£d. CANTERBURY MARKETS. DEMAND FOR COCKSFOOT LIVENING. CHRISTCHURCH, November 16. After being quiet for some months cocksfoot has livened up within the past few days, and some fair-sized parcels have changed hands. Apparently some merchants are beginning to realise that the stocks on hand of standard cocksfoot are not large for this time of the year, and this, combined with the fact that the area growing seed this year on Banks Peninsula is smaller than has been the case for some time, has led to the inquiry that has been set up and the consequent firmer tone in the market. Sales have been made here at 9d, but in some instances as much as lOd is being asked. There is no change in ryegrass. There has been some inquiry from Home for this seed, but the prices mentioned do not admit of any business passing. At the moment one or two weak sellers are inclined to cut prices to secure sales, and some southern merchants have been doing business on a basis of 6/6 for 281 b seed, on trucks at Gore. Oats.—A number of sales of oats have been made to Sydney, both from Canterbury and the south, mostly of Gartons. No difference has been noticed, however, in the prices ruling. Partridge Peas—lnquiry for these has slackened off to some extent, but there are indications that a large acreage is being sown. This has been brought about by farmers who did not put down the usual quantity of potatoes having no option but to sow either barley or partridge peas, and, owing to the uncertain market for barley, they preferred peas. A little more inquiry has been evident lately for white clover, and sales have been made to Auckland on & basis of 190/-, to.b.

TALLOW. THE LONDON SAL9S. Messrs Dalgety & Co., Ltd., report having received the following advice from their head office, London, under date of November 14:—“At the tallow sales this week 1130 casks were offered, of which 705 were sold. Since our last wire prices are 3d to 6d higher generally, and prime mutton 2/- higher. The following brand sold at 46/-: C.M Co. Ltd. over H in diamond.” STOCK EXCHANGES. CHRISTCHURCH, November 16. I Sales on ’Change: Manning’s Brewery, j 25/9. AUCKLAND, November 16. Sales: Bank of New Zealand, 51/-; National Bank, 134/6; Insurances—New Zealand, 29/-; National, 77/-; Auckland Gas (contj 3/4; New Zealand Drug Co., 66/6. DUNEDIN, November 16. Sales reported: New Zealand Refrigerating (cont.), 11/-. THE MEAT TRADE. REPORT FROM PRODUCERS’ BOARD. ARGENTINE AND AUSTRALIAN PROSPECTS. WELLINGTON, November 16. The New Zealand Meat Producers’ Board reports:—The Board has so regulated shipments of New Zealand meat that the stores in the Dominion are practically empty. There were in store at the end of October only 44,242 carcases of lamb, 4322 carcases of mutton, and 42,942 quarters of beef. AUSTRALIAN TRADE. The shipments from Australia last season, during the months of October, November and December, amounted to 1,863,430 carcases of lamb. The effects of the drought are such that in October of this year 42,600 carcases were shipped in comparison to 412,890 carcases in October of last year, and the estimated amount that will be shipped at the end of December this year is 750,000 carcases, being 1,113,430 carcases less than for the same period last year. The balance of the Australian season is expected to follow out in same proportion, and the above conditions apply also to sheep. The first shipment of new season’s Australian lamb was sold some days ago at IOAd, c.i.f. This is about the same price as a similar quality of lamb sold from Australia at the same date last year. PROSPECTS IN ARGENTINE. A report from our Argentine agent advises that “heavy falls” of snow, with extremely inclement weather, have been experienced in the large sheep-raising country in the south of the Argentine, while a loss of 20 per cent, of sheep is probable. In some parts of the country there is likely to be poorer lambing, while wethers will be very thin in the spring, and will not be in a condition for killing until “late in the season,” but with such an extensive country facts are not as yet sufficiently available to enable the Board to give a reliable statement. Compared with last year the shipments of lamb and mutton in the months of September and October in the Argentine were as follows:

The Board has just received a cable from its Argentine representative advising that it is anticipated shipments of frozen mutton and frozen lamb from Patagonia will be less this season than last. The cost of shipping lamb from New Zealand to Great Britain has not varied much from last year, the freight being lower by id per lb, and the price of wool is somewhat better. MELBOURNE HIDE SALE. MELBOURNE, November 16. (Received November 16, 8.10 p.m.) At the hides sale there was an average catalogue. Competition was dull excepting for heavy sorts, which are unchanged. Other classes declined a halfpenny. LONDON MARKETS. LONDON, November 15. (Received November 16, 5.5 p.m.) Cargoes are unsettled owing to fluctuations in exchanges. Parcels closed quiet and steady. Parcels ex Beltana sold at 45/9. The spot trade is firm, but slow, Australian being quoted at 49/-. Flour is quiet and unchanged. Oats, beans, and peas are steady. Sugar—Granulated, 57/1 i. BUTTER AND CHEESE. LONDON BUSINESS GOOD. LONDON, November 15. (Received November 16, 8 p.m.) The improvement in the butter business has been maintained, and the few arrivals of New Zealand are selling briskly. Choicest salted, 200/- to 202/-; unsalted, 208/- to 210/-. Australian—A small supply offering. Salted, 194/- to 196/-; unsalted, 204/- to 206/-; secondary salted, 170/- to 180/-. Danish.—2l4/-. Cheese.—The demand has improved. New Zealand white is quoted at 102/- to 104/-; coloured, 104/- to 106/-.

GERMAN IMPORTS. ’ DELAY IN FIXING DUTY (Per United Press Association.) DUNEDIN, November 16. The chairman of the Otago Importers’ and Shippers’ Association telegraphed this morning to the Controller of Customs that there was much inconvenience consequent on the delay in settling the duty on German goods landed in Dunedin. Is it not possible to settle this question on a definite principle applicable to all cases, so that importers may know how to assess the cost of the goods? It is stated that on the arrival of German shipments samples are taken, and the Customs officer takes these round business houses to ascertain if similar goods are manufactured in England; also to prepare prices. These are then submitted to Wellington, whence the importer is notified of the duty rate. The result is great delay in disposing of importations. TRADE STATISTICS. ANOTHER BOOM IN IMPORTS. ABNORMAL SHIPMENTS OF MOTORS. WELLINGTON, November 16. Oversea trade statistics published to-day disclose another boom in imports, including abnormally heavy shipments of motor vehicles from abroad. Exports are normal, showing nothing more than a natural increase on last year’s figures. The total imports for the nine months to the end of September were valued at £31,481,795 compared with £25,101,909 last year. Exports amounted to £37,591,106 against £35,145,795 a year ago. BRITISH OIL SHARES. RUMOURED SALE TO DUTCH. LONDON, November 15. Rumours recently circulated that the Royal Dutch Shell group were negotiating for the purchase of the British Government’s extensive holdings of Anglo-Pers'aa oil shares formed the subject of a question in the House of Commons. Mr Neville Chamberlain admitted that a proposal for acquisition had been under consideration for some time. The Government had not yet reached a decision. No step was contemplated by the Government which would jeopardise the supply of oil Juel to the .navy or the mercAntile mariiM

prices is as follows:— Good to Super Low to Med. Merino 27d to 29d 22 id to 26d Halfbred, 56/58 25d to 28d 20d to 23£d Halfbred, 50/56 19d to 22d 17d to 18Jd Fine Cbd, 48/50 to 18|d 14Ad to 16d Fine Cbd, 46/48 15dtol6Ad 12Jdtol4Jd Crossbred, 44/46 13 Ad to 15d lUd tol2»d Crossbred, 40/44 12d to 13d lOAd to 11 Ad Coarse crossbred, 36/40, super 12d, medium to good 9$d to lOAd.

60/64’s N Z. Merino yieldSeries. ing 48 per• cent 27d 27d 56’s yielding 60 per cent. 26d 25d 5O’s yield 65 per cent. 20d 19d 44/46’b preparing yielding 74 per cent 12|d IHd 44/46’s carding, yield 72 per cent lljd IMd 36/40’s yielding 75 per cent. 10id 9}d

Good to super .. .. . Low to medium.. .. . . 2ad to26jd . 20d to 24*d 56/58 Halfbred— Good to super . 23idto26d Low to medium .. „ . 19d to 23d 50/56 Halfbred— Good to super .. .. . . 22d to 244d Low to medium . 18d to 21d 48/50 Fine Crossbred— Good to super . 17d to 20d Low to medium.. ... . 14d to 16 id 46/48 Fine Crossbred— Good to super . 15dtol71d Low to medium.. .. . . 12Jdtol4jd 44/46 Crossbred— Good to super .. .. . . 12Jd to 144d Low to medium..... . lOd to 12d 40/44 Crossbred— Good to super . lid to 12Jd Low to medium . SdtolOJd

Mutton. Lamb. September, 1922 . 62,414 83,396 September, 1923 . 64,100 93,300 October, 1922 . 51,082 71,381 October, 1923 . 105,250 83,600