COMMERCIAL

Southland Times, Issue 19102, 21 November 1923, Page 2

COMMERCIAL

GRAIN AND PRODUCE. Messrs Dalgety & Co., Ltd. (Dunedin), report as follows: Oats.—The demand is sufficient to absorb the very few lines coming forward at late rates. Wo quote: A Gartons, 2/10; B Gartons, 2/8; undergrade from 2/- per bushel; sacks extra. Fowl Wheat.—Good whole fowl wheat is inquired for at up to 4/11 per bushel, ex store. Potatoes.—This market is over-supplied. Freshly picked over lines of whites are worth up to £8 per ton, and reds are very I slow of sale at up to £6 10/- per ton. I Chaff.—Prime quality chaff is inquired ) for, but medium and inferior quality, which is in over-supply, is slower of sale. We quote: Prime oatensheaf, £5 5/-; good to best feed, £4 to £4 15/-; inferior, £2 to £3 10/- per ton; sacks extra. Messrs Donald Reid & Co., Ltd. (Dunedin), report as follows: — Oats.—The market remains practically unchanged. Very few lines are offering. We quote: A Gartons, 2/10; B Gartons, 2/8; undergrades from 2/-; sacks extra. Wheat.—Milling quality is still accepted by the millers. Good fowl wheat is worth up to 4/11; inferior, 4/- to 4/6; sacks extra. Potatoes. —New potatoes are coming on the market more freely, consequently old ones meet with little inquiry. We quote: White, £8; reds, £6 10/-; sacks extra. Chaff.—Prime oaten is always in demand, but light and discoloured is hard to dispose of. We quote: Prime oatensheaf, £5 5/-; medium to good, £4 to £4 15/-; inferior, £2 10/- to £3 10/-; sacks extra. BUTTER AND CHEESE. LONDON PRICES ADVANCE. The New Zealand Produce Association, London, cables that the butter market has advanced owing to reduced offerings. New Zealand is 200/- to, 202/-, Danish 212/-. Cheese has advanced sharply from 100/- to 108/-, white now 106/-; coloured, 108/-. Canadian both colours, 102/- to 108/-. THE MEAT MARKET. SMITHFIELD QUOTATIONS. The New Zealand Meat Producers’ Board has received the following cable from its London office, dated November 16, 1923, advising Smithfield delivered prices at that date as follows: New Zealand wethers and maidens, Canterbury quality, selected brands, 561bs and under, B}d per lb; 57/641bs, 7fd; 65/721bs, 7fd. Other brands: 561bs and under, 7fd per lb; 57/641bs, 7id; 65/721bs, 7jd. New Zealand ewes, 641bs and under, 6id per lb. New Zealand Lambs—Canterbury quality, 361bs and under, lljd per lb; 37/421bs, lOfd; 43/501bs, 9id per lb; seconds, lOd per lb. Selected brands, 361bs and under, IOAd per lb; 37/421bs, 10id. Other brands: Ist quality 421bs and under, 9£d per lb; seconds, 94d per lb. New Zealand Beef—Ox fores 3id, ox hinds 4|d; cow fores, 2£d, hinds 3fd per lb. Argentine chilled beef, ox fores 3|d per lb, hinds sid per lb. Argentine frozen beef, ox fores 3fd per lb, hinds 5d per lb. Frozen Pork—Under lOOlbs, 7|d per lb, 120/1801bs, 7Ad per lb. Lamb and mutton in better demand generally. INCREASED FREIGHTS. AN AUCKLAND PROTEST. Says the Auckland Star: The shipping companies were recently kind enough to reduce the freights on meat and butter, for which, we are sure, the producer was duly grateful. They have now, however, offset this with an increase of an eighth of a penny per pound on wool and sheepskins. On the export figures for 1921 this increase represents an addition to the freight bill on wool alone of more than £BO,OOO. Is j there any good reason for this increase? None that we' can see. The shipping combine can hardly plead that its expenses are increasing. It is more likely that they are decreasing. It looks as if the companies thought that as the New Zealand woolgrower was having a better time than was the case a year or two ago they might as well share in his prosperity. We should think the companies were better able to forego an increase in freights than the sheep farmer is to do without an improved market, and certainly the farmer will consider it hard lines that just when he is getting his head above water the shipping companies should add to the weight he is carrying. CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH, November 20. Not a great deal of business is being done this week, and there is little change in the markets. Since last week oats are still being sent in small parcels to Australia, Gartons being mostly in demand. Danish and other sorts are being sent across as well in smaller quantities, when Gartons are not available. A line of Danish was sold last week to an Australian buyer at 3/2, f 0.b., s.i. Generally speaking, however, business with Australia is not so large from Canterbury as usual. Business is still keeping up in cocksfoot. The price to farmers is generally about 9d and in some instances 9sd. In several instances holders are not evincing any desire to sell at present, being evidently of the belief that prices will rise before long. Potatoes.—Despite new season’s potatoes being supplied from Auckland the market is still quiet, but the steady demand for Canterbury tubers from northern ports and West Coast of South Island is expected to continue for some weeks. There seems to be plenty of stocks available here to meet demands, despite the fact that such large quantities were sent north earlier in the season. STOCK EXCHANGES. DUNEDIN, November 20. Sales:—Waihi, 26/-; New Zealand Loan & Mercantile (ord.), £81; Wilson’s Cement (3), 28/9. Sales reported: Bruce Woollen, 35/-; New Zealand Drugs, 66/6; Parker Co., 41/3; New Zealand Breweries (single £5OO debenture), £lOl, 15/-. CHRISTCHURCH, November 20 Sales on ’Change: Bawra 15/6 (three parcels). . Sales reported: Kaiapoi Woollen (£1 paid), 21/-; Huddart Parker Co. (ord.), 41/3; Beath & Co., 32/6. BUTTER AND CHEESE. THE MARKET ADVANCES. WELLINGTON, November 20. The National Dairy Association of New Zealand has received the following cable from its London office, dated November 16/: Butter.—The market has advanced and New Zealand salted is now selling at 200/to 202/-; Australian (salted), 192/- to 196/-; Argentine (salted), 166/- to 176/-; Irish, 192/-; Danish, 212/-; and Canadian, 190/- to 196/-. Cheese.—There is a ' good demand for New Zealand white at 106/- and coloured at 108/-. Canadian (white), is at 102/and coloured 108/-. SKINS AND HIDES. WELLINGTON SALES. Local brokers held their skin and hides sales at Wellington on Friday. Sheepskins were keenly sought after, prices for dry skins being about Id to 3d per lb above last sale, while salted were up to 1/- in advance of last sale’s rates., The market for hides was not so keen. Heavy ox depreciated about id. Cows and kips were

easier; calfskins on a par with last sale Tallow was firm. The following is the range of prices:— Sheepskins.—Halfbred, 13d to 15Jd fine crossbred, Hid to 15d; medium to coarse crossbred, 9d to Hid; short to half wools, sid to 10id; lambs, 7d to 12|d; dead and damaged crossbred, 5d to 9^d; inferior and badly damaged, IJd to 6id; pelts, 4d to B|d; damp, salted and green, 4/- to 15/-; pelts, salted, 1/6 to 3/-; lambs, salted, 1/8 to 5/-. Hides. —Ox heavy, 7id to 84d; heavy, 6fd to 7£d; medium, sid to 7|d; light, 4d to sgd; cut, slippy and inferior, 2|d to s£d; cow, heavy, 4§d to medium, 3sd to sd; light, 3£d to 4§d; cut, slippy and inferior, Id to 3Jd; bull, stag,, 2d to 2|d; yearlings, 4Ad to 6sd; yearlings, 4id to 5Jd; calf, superior, 5d to 15d; medium to good, 7d to 4gd; damaged, Id to ll|d. Tallow.—ln casks, 27/- to 32/6; in tins, etc., 22/- to 26/6. Sundries. —Horsehair, 19d. PRICE OF POTATOES. ’MARKET IN SYDNEY. A representative of the Auckland Star who has returned from a visit to Australia, was interested in a paragraph published of promise of splendid yields in New Zealand of first-class potatoes. In Sydney, when the Niagara left, potatoes were selling at about £22 per ton owing to a temporary scarcity, and the price about a week earlier went as high as £26 per ton One calculating Sydney journalist worked the retail price out at fourpence per potato, and went on, somewhat humorously to speculate on how fourpennyworth of' “spuds” would pan out to a working man and his family. The Sydney Housewives’ Association took the matter up more seriously, being of the opinion that growers and the trade were too much inclined to advance prices, and unanimously resolved to boycott potatoes until the quotations were reduced. This may have had some effect, for, as already stated, the price dropped very speedily to £22 per ton. Unless supplies in Australia speedily increase there ought to be a good market there for New Zealand-grown tubers. THE WHEAT MARKET. CARGOES FIRMLY HELD AT ADVANCE LONDON, November 19. (Received November 20, 5.5 p.m.) Wheat cargoes are firm, following a further depreciation of the American exchange. Sellers are asking advances of threepence and sixpence, which is checking business. Part of the Buteshire’s cargo was sold at 45/-. Parcels are firm and in good demand at an advance of threepence to sixpence. Wheat, ex Gilgai, sold at Leith for 45/7J. FOREIGN EXCHANGE RATES. LONDON, November 13.

* Determined by price of silver The exchange on Berlin is nominally 28 to 33 billion marks. BRADFORD WOOL MARKET. LONDON, November 20. (Received November 20, 8.15 p.m.) The Bradford wool is quiet and quotations are steady.

See the Moffat-Virtue Milking Machine first. Even though you have, practically decided on another make, see the MoffatVirtue. It will make an instant appeal. Every dairyman will appreciate the moisture trap that takes the place of the old cumbersome vacuum tank, and this is only one of the M-V. exclusive features. Make inquiries now. Write to the M-V. Machinery Co. Ltd., Queein Street, Masterton. Wright, Stephenson & Co., Ltd., Invercargill, Local Agents.—(Advt.) As an aid to sea fishing operations by night, a visitor to the Isle of Wight is using electric light. He carries an accumulator in the boat, and lowers the light to the bottom of the sea near the bait. He has made some good catches.

The exchange rates are as follow:— London on Par. Nov. 16 Nov. 20. Paris, fr to £1 25.225 80.40 80.80 Brussels, fr to £1 25.225 94.25 95.00 Christiania, kr to £1 18.159 30.12 29.47 Copenhagen, kr to £1 18.159 25.60 25 23 Stockholm, kr to £1 18.159 16.52 16.27 Rome, lire to £1 22.22| 1016 100 New York, dol to £1 4.86 4.335 4.28 Montreal, dol to £1 4.86 4.411 4.374 Hongkong, dol to £1 * 28d 27Jd Yokohama, st to yen 21.50 26gd 26 15-16d Calcutta, st to rupee 10 to £1 16 J 17 1-16