COMMERCIAL

Southland Times, Issue 19345, 10 September 1924, Page 2

COMMERCIAL

CLEARING SALE AT OTARA SUCCESSFUL AUCTION. Hunter Bros, nd Rice report:— A very representative gathering rolled up from the surrounding districts at Mr Jas. Thomson’s sale at Otara, on Friday last. A fairly bright sale resulted, and everything changed hands at good prices. The chief attraction was the daily cows, and any animal with good looking milking qualities sold well. Appended are some of the sales. Dairy Cows: 1 Jersey cross £l2, 1 crossbred cow £8 15/-, 1 do. £B, 2 at £7, £6 15/-, £6 10/-, £6 5/-, 4 at £5 12/6, 2 at £5 10/-, £5 5/-, £5, £4 15/-, £4 10/-, £4 5/-, 2 at £3, 6 do. £2 15/- to £1 15/-, 1 Jersey Bull £9 5/-, 3 heifers £1 7/6 to £2 15/-. Horses: 1 draught mare £42, 1 old mare £3 10/-, 1 hack £5. Implements, etc: Cultivator £9 15/-, D.F. Plough £7 15/-, Discs £4 15/-, Roller £lO, Drill £lO 15/-, Spring Dray £lO, Gig £4 10/-, Dray £l3 10/-; also a quantity of harness, tools and sundries at satisfactory prices. SALE OF SHEEP RUN. NITHDALE CHANGES HANDS. Messrs Dalgety and Co., Ltd., Gore, report the sale on account of Mr James Scott, Ardwick Street, Gore, of his well-known property, “Nithdale,” Otaraia, comprising 3400 acres, to Mr C. W. Tripp, of Timaru, at a satisfactory price. This is one of the few estates which has remained in the same ownership since the original. settlers first pioneered on their holdings in the days when sheep and wool were far below their present values. The present owner is to be congratulated on securing such a compact little run so well adapted for the breeding of Romney and Corriedale sheep. At the subsequent clearing sale high values were the order of the day. The sheep were yarded in excellent condition, and spirited competition right through yielded prices far above those ruling at local sales. The following are some of the prices realised:—Bs4 ewes 43/5, 159 ewes 42/-, 300 ewes 44/-, 185 ewes 43/-, 31 hoggets 40/-, 500 ewe hoggets 35/-, 172 m.s. hoggets 25/-, 32 wethers 35/6. Horses ranged from £lB to £45. The 100 head of cattle realised full market rates. The large crowd assembled was well catered for by Mrs John Scott, assisted by her many lady friends. GRAIN AND PRODUCE. THE DUNEDIN MARKETS. Messrs Dalgety and Co., Ltd., report as follows: Oats.—Offerings are negligible, and the demand for seed oats is a little easier. Practically no business is ensuing, and the following quotations are nominal:—A Gartons, 6/-; B Gartons, 5/9 per bushel, sacks extra. Wheat.—Stocks of wheat are very low, and the value of good whole fowl wheat is 6/9 per bushel, sacks extra. Potatoes.—Northern potatoes are coming forward in fair quantities, and are filling the improved demand. Choice lines are realising-up to £6 10/- per ton. Chaff.—Sufficient supplies are available to meet the demand, and prices are on a par with late rates. Prime quality is inquired for at from £8 5/- to £8 10/- per ton, sacks extra.

Messrs Donald Reid and Co., Ltd., report as under:—

Wheat.—The demand for good whole fowl wheat still continues, but offerings from farmers have now completely ceased. Northern merchants are, however, offering various lines, and several sales have been made. We quote 6/9 per bushel, sacks extra. Chaff.—The market remains practically stationary. There are still a few trucks coming from the north, but sales, ex truck, are difficult to effect. Most feeders anticipated a shortage, and purchased heavily early in the season, and they have still a fair quantity on hand. We quote £8 5/- to £8 10/- for prime, ex truck, sacks extra. Oats.—The seed demand has now slackened considerably, and as shippers are not operating, the market is inclined to be easier with regard to Gartons and Sparrowbills, but Duns, Blacks, Danish, and Algerians, are still in good demand. We quote: A Gartons, 6/-; B Gartons, 5/9, sacks extra. Potatoes.—Local merchans are still holding fair stocks, and values remain on a par with last week’s. Consignments do not meet with much competition. We quote £6 10/-, sacks in, for good tables. THE ADDINGTON MARKET. FLOODING WITH NORTH ISLAND STOCK. A strong protest against the alleged continued flooding of the Addington market with North Island cattle was made at Thursday’s meeting of the Lyttelton Harbour Board. The discussion arose out of a letter from the Christchurch Woolbrokers’ Association asking the Board to remit the 10 per cent, surcharge on live stock wharfage. The Chairman said he could see no great objection to granting the request; the amount was small. Mr W. K. McAlpine: “I must oppose it. We don’t get any. special consideration from the North Island, so why should we assist them. The Addington market is overrun with fat cattle from the North Island. Week after week the market is continually flooded with fat cattle from Auckland and different parts of the North Island, and the local cattle-raiser has not got a chaiice against them. We want all the revenue we can get (reports a (correspondent). We have given a great number of concessions already, and I don’t see why we should assist the North Island fanners to compete against the farmers in Canterbury. I move that no action be taken.” It was decided to remit the surcharge as requested. CANTERBURY MARKETS. BUSINESS QUIET. (Per United Press Association.) CHRISTCHURCH, September 9. With the deluge of potatoes from Australia which has landed in Auckland during the week, local business is confined mostly to the coastal trade. > A few holders of from 20 to 40 tons have come to light this last week, but most potatoes are held in small lots. A spirited demand prevailed during the week for potatoes for North Island coastal ports, and up to £5 10/-, f.0.b., si., was paid for the Flora cargo for Napier. The Moeraki has been bringing potatoes from Australia to Wellington, and it is reported that Dunedin is also to receive a shipment. Quotations to farmers have been up to £4 5/- during the week, and from that figure down to £4, represents the present figures for September delivery. Between merchants about £5 5/- f.0.b., s.i., is offering. Chaff is firm and there is a good inquiry. Cowgrass fluttered up yesterday, but the market is again quiet. Values to fanners are Bd. Linseed is worth £l7 on trucks. All other sales show very little movement. DAIRY PRODUCE. THE LONDON MARKET. NEW ZEALAND SHIPMENTS. WELLINGTON, September 8. The National Dairy Association furnishes the following particulars of recent arrivals of dairy produce in England:— Pakeha.—Sailed July 1, arrived August 14; carried 21,647 boxes butter and 18,547 cases cheese. Athenic.—Sailed July 5, arrived August 17; carried 11,052 boxes butter. Mahia. —Sailed July 11, arrived August 18, carried 2282 boxes butter and 5042 cases cheese. Port Victor.—Sailed July 11, arrived August 23; carried 7072 cases cheese. Turakina.—Sailed July 25, arrived August 29; carried 13,569 boxes butter and 5042 cases cheese.

Rimutaka.—Sailed July 6, arrived August 27; carried 1736 boxes butter and 4952• cases cheese. Remuera.—Sailed July 29, arrived-Sep-tember 4; carried 24,202 boxes butter. Norfolk.—Sailed July 30, arrived September 3; carried 8132 boxes butter and 3017 cases cheese. The High Commissioner’s cables for dairy produce during the above period of arrivals were as follows according to weekly cables received: —?

SHIPPING SPACE. The sjs. Tekoa will lift a small quantity of butter for the West of England ports and the first of the new season’s cheese for London at Wellington about September 16. The new season’s shipments, however, will not commence in any quantity until the arrival of the s.s. lonic which loads about September 22 and sails about September 27. From then onwards there are five steamers —the Kaikoura, Maimoa, Rotorua, Mamari, and Port Caroline loading butter and cheese at fairly regular intervals until the end of October, and arriving Home in ample time to have their cargoes available for the Christmas trade. In fact, the shipping outlook is, in the Association’s opinion, distinctly promising, and all September and October gradings should be well catered for in the steamers above mentioned. For the purpose of comparison the figures of recent monthly New Zealand shipments made and to be made this season with those of last year are appended:—

RIVAL BUTTER COUNTRIES. VICTORIA AND NEW ZEALAND. When in Melbourne recently, Mr T. Downs, manager of the Northern Wairoa Daipr Company, in discussing Northern Wairoa butter with Mr O. J. Carrol, assist-ant-chief grader of the Commonwealth, suggested that, In order to give an opportunity of comparing its quality with that of Victoria, a box of New Zealand butter should be exhibited at the Victoria Show, and in turn a box of Australian butter should be sent to Auckland for exhibition at the Winter Show. In a letter just received from Mr Carroll reminding Mr Downs of his suggestion, Mr Carroll stated that he had advertised that a box of Northern Wairoa butter would be taken as the standard in the export class in a competition to be held at the show of the Royal Agricultural Society of Victoria this month, with the gratifying result that the entries in this class had increased by 200 per cent. Arrangements have been made to ship the butter by the Moeraki, via Wellington. MODERATE RAISIN CROP. \ EFFECT ON PRICES. According to information from California, the 1924 crops of raisins will not exceed 200,000 tons, but will likely be something over 180,000 tons. Last year 285,000 tons were produced, which means an apparent shortage of 85,000 to 100,000 tons. The size of the crop has considerable bearing on the sale of the carry-over, and in considering opening prices on new packs, which will probably be announced in a few weeks. THE MEAT MARKETS. SMITHFIELD QUOTATIONS. The New Zealand Meat Producers’ Board has received the following cable from its London Office dated September 5, 1924, advising Smithfield delivered prices at that date as follows:—(Prices for the two previous weeks are also shown). 5/924.-29/8/24.-22/8/24. N.Z. Wethers and Maidens— Canterbury quality, Selected brands:

EXCHANGE ON LONDON. NEW ZEALAND v. AUSTRALIA. The banks in the Commonwealth have just advanced their exchange rates on London by 5/- per cent, all round, and it is interesting to compare the New Zealand rates with the Commonwealth rates. The buying rates which tell against the producers are as follows:

On a demand draft on London the producer in Australia receives £96 17/6 for every £lOO, whereas the New Zealand producer receives £9B, a difference of £1 2/6 per cent., and that margin of difference is maintained throughout. With respect to the selling rates the comparison is as under:-

The selling rates which directly concern the importers are very much more favourable in New Zealand.

PRIMARY PRODUCTS. IMPROVEMENT OF QUALITY. MASTERTON, September 8. In the opinion of the Prime Minister who spoke at the complimentary function tendered to Hon. A. D. McLeod, Minister of Lands, at Carterton to-day. New Zealand has lost her beef industry to the competition of the Argentine, and on account of the influence of the latter country Mr Massey holds no hopes of the position being regained, In a word to primaiy producers he advised them that the only way to combat the ever-growing competition was to improve quality and see that dairy produce, mutton and lamb, did not meet a similar fate. Some authorities had urged the opening of the market in the East, but Mr Massey considered England was the bnly market for New Zealand. The peoples of the East earned a mere pittance compared with the earnings of the British workman, and the producer could only expect to sell successfully where the most money was offering. British people were prepared , to pay good prices for what they wanted, but if it were not up to the mark'they woulfl not entertain it A duty, therefore, developed

upon producers to increase production and improve quality where possible, and he hoped that the Bill now before the House providing for a reduction in taxation would be carried and allow increased production to materialise. THE POTATO MARKET. AUCKLAND OVER-SUPPLIED. AUCKLAND, September 8. Several articles have appeared in the south attributing the ups and downs in the potato market to a scarcity at one time in Auckland, and heavy over-selling in Christchurch by interests from that end. Chatting with a local produce trader on the position, a representative of the Star was informed that at the present time the market here is over-supplied with old potatoes both from the south and Australia. The Kawatiri has arrived from Melbourne with 19,000 sacks, and another 500 sacks that were taken on board at Tasmania. Large quantities of potatoes are still on the wharves brought from the south by the Wingatui and Navua, and the Rakanoa has just arrived with 3000 sacks. The Wanaka is due to-morrow with a further shipment, and the Kawatiri goes direct to Melbourne for another cargo of potatoes bought there by Auckland importers at £2 15/- per ton, f.o.b. This simply means that so late in the season it is doubtful if Auckland will need to draw more potatoes from the south. At last Friday’s auction sales, one hundred bags of new potatoes were sent in, which is a sure indication that local supplies will soon be coming forward freely, and the present rain is just what was wanted by potato growers at Pukekohe, and it is thought that digging there will start within the next couple of weeks provided the weather is suitable. Once new potatoes are offering at a reasonable price, it simply means that old will not be wanted, excepting the comparatively small quantity always required by bakers. Some time ago growers in Canterbury were advised to accept the fair prices offering, but they held back for still better money, and it is just possible they will once again find themselves with stocks on hand for which there is no demand from Auckland. THE LONDON MARKETS. HIGH COMMISSIONER’S REPORT. WELLINGTON, September 8. The Department of Agriculture has received the following cablegram, dated 6th instant, from the High Commissioner for New Zealand, London:— Butter.—Market continues dult Official quotations are:— New Zealand, salted, finest, market quiet. September 6: 206/- to 208/- per cwt (1/10 to 1/101 per lb), exceptional: 210/- per cwt (1/10* per lb); August 30 : 204/- to 208/- per cwt (l/9£ to 1/10$ per lb); August 23 : 206/- to 210/- per cwt (1/10 to 1/101 per lb). Unsalted; September 6: 220/- per cwt (1/UA per lb); August 30: 220/- per cwt (1/114 per lb). Other qualities; September 6: 180/- to 200/- per cwt (1/7$ to 1/94 per lb). Australian; salted; September 6: 196/to 200/- per cwt (1/9 to 1/94 per ft>) ; August 30 : 200/- to 202/- per cwt (1/94 per lb); August 23 : 200/- to 204/- per cwt (1/94 to l/9f per lb). Unsalted; September 6: 206/- to 210/- per cwt (1/10 to 1/104 per lb); August 23: 204/- to 208/per cwt (1/91 to 1/101 per lb). Other qualities; salted; September 6: 188/- to 194/- per cwt (1/8 to 1/81 per lb). Canadian; salted; September 6: 190/- to 192/- per cwt (1/81 to 1/84 per lb), unsalted: 200 to 204/- per cwt (1/91 to 1/91 per lb). Argentine; unsalted; September 6: 196/to 200/- per cwt (1/9 to 1/94 per lb); August 30: 196/- to 200/- per cwt (1/9 to 1/94 per lb); August 23: 196/- to 200/per cwt (1/9 to 1/94 per lb). Other qualities; September 6: 180/- to 194/- per cwt (1/71 to 1/8J per lb). Irish; unsalted; September 6: 212/- per cwt (1/lOf per lb); August 30: 210/- per cwt (1/101 per lb).

Danish; September 6 : 208/- to 212/- per cwt (1/lOi to 1/10$ per lb); August 30: 212/- to 216/- per cwt (l/10f to 1/11 per lb); August 23: 214/- to 215/- per cwt (1/10$ to 1/11 per lb). Siberian; September 6: 160/- up to 174/per cwt (1/5$ to 1/64 per lb), exceptional: up to 180/- per cwt (1/7$ per lb); August 30: 160/- to 176/- per cwt (1/5$ to 1/6$ per lb); August 23: 150/- to 178/- per cwt (1/4 to 1/7 per lb). Cheese.—Market very quiet. Official quotations are:— English; finest fanners’, market firm; September 6: 108/- to 112/- per cwt (lljd to 1/- per lb); August 30: 102/- to 106/per cwt (lid to lljd per lb); August 23: 102/- to 106/- per cwt (lid to lljd per lb). Canadian; September 6: Coloured, 93/to 94/- per cwt (lOd per lb), white, 94/to 96/- per cwt (lOd to IOJd per lb); August 30: Coloured, 92/- to 94/- per cwt (9Jd to lOd per lb), white, 94/- to 95/9er cwt (lOd per lb); August 23: Coloured, 94/- per cwt (lOd per lb), white, 94/- t» 96/- per cwt (lOd to 10fd per lb). New Zealand; market steady; Septembw 6: Coloured, 92/- per cwt (9}d per lb), exceptional: 93/- per cwt (lOd per lb), white, 94/- to 95/- per cwt (9Jd per lb); August 30: Coloured, 917- to 92/- per cewt (9sd per lb), white, 94/- up to 96/- per cwt (lOd to IOJd per lb); August 23: Coloured, 92/to 94/- per cwt (9fd to lOd per lb), white, 94/- to 96/- per cwt (lOd to IOJd per lb). Shipments of New Zealand produce arrived by Turakina last week, and by Norfolk, and Remuera this week. Estimated stocks of cheese on September 1, at London, Liverpool, and Bristol were:—Canadian and American, 157,600 boxes; New Zealand and Australian, 51,800 crates, against 40,400 boxes, and 20,400 crates respectively for same time last year. Hemp.—Manila market very firm and prices are advancing. “J” grade, Septem-ber-November shipments, sold at £44 15/to £45 10/- and value. New Zealand market firm. Highpointa, September-November shipment, quoted at £4O 10/-, fair, £3B 10/and value. Wool. —Bradford market firm, prices- for tops still going up. 64’s Merino 6/6; 56’s super halfbred 4/2; 40’s prepared (coarse crossbred) 2/4. Honey. —Market firm. Present quotations for bulk ex wharf, London, are:— New Zealand; white 80/- to 90/- per cwt; light amber 70/- to 80/- per cwt; medium amber prime 65/- per cwt. Tallow. —Spot market quiet but firm, and demand is good at auction. Present quotations are:— Mutton. —Fine, 47/- per cwt; fair to good, 44/6 to 46/6 per cwt; dark to dull, 41/to 43/- per cwt. Beef.—-Sweet- and/or mixed, 47/- to 47/6 per cwt; fair to good, 44/- to 46/- per cwt; dark to dull, 40/- to 42/- per cwt. Mixed.—Fair to good, 43/- to 46/- per cwt; dark to dull, 40/- to 41/6 per cwt. Gut, etc. —36/9 to 41/- per cwt. Fruit.—Strike has not been terminated, but cool stored supplies for Wembley have been released. Eggs.—Market firm. English, Danish, and Dutch, 18/- to 21/- per long 100; Irish, Italian and Belgian, 16/- to 17/6 per long 100; Lithuanian and Russian, 10/- to 15/per long 100. BRADFORD TOPS. MARKET CONFIDENT. LONDON, September 8. The Bradford tops market displays a confident tone. Prices are firmer. AUSTRALIAN LOAN. LONDON, September 8. Commenting on Australia’s internal loan, the Morning Post says an adequate response to it will, it is hoped, relieve the London market of Australian borrowing except for conversion purposes, and this should lead to the easing of the Exchange position for Australia. The economic position does not justify a premium upon her currency for an indefinite period.

Butter (salted). Cheese coloured) White Aug. 9 .. .. 194s-198s 9Qb-92s 92s-94s 96s-98s Aug. 16 .. .. 200s-202s 94s-96s Aug. 23 .. .. 206s-208s 92s-94s 94s-96s Aug 30 .. .. 204s-208a 91s-92s 94s-96s Sep. 6 .. .. 206s-210s 92s-93s 94s-95s

Boxes Butter. Crates Cheese. 1923. 1924. 1923. 1924. Jul. . 11,529 82,710 5,701 43,672 Aug . 28,462 43,910 3,640 27,111 Sep. . 129,265 70,662 21,328 30,808 Oct. . 142,940 193,412 32,330 41,624

(Per lb.) d. d. d. 561b and under .. .. 84 8} 8} 571b to 641b 8} 81 8} 651b to 721b 8 8 8 Other Brands— 561b and under .. .. 8} 81 8 571b to 641b 8 8 8 651b to 721b 71 71 71 N.Z. Ewes — 641b and under .. .. 61 61 64 N.Z. Lamb: Canterbury quality— 361b and under .. .. 121 12J nt 371b to 421b 12 12 11} 431b to 501b Hi 111 104 Seconds 111 11.1 114 Selected— 361b and under ., .. 121 12} 12 371b to 421b 12* 12* 12 Other Brands, 1st quality 421b and under .. .. 111 114 111 N.Z. Beef: Not quoted. Argentine Chilled Beef: Ox fores 31 34 3} Ox hinds 71 7 71 Argentine Frozen Beef: Ox fores 34 31 31 Ox hinds .. .. .. .. 54 51 51 Frozen Pork: Not quoted. Frozen Veal 4 4 4

Usance. Australia. N.Z. Discount. Discount O.D. .. . . .. 62/6 40/30 days . . .. 70/47/6 60 days . . .. 77/6 55/90 days . . .. 87/6 65/120 days . . .. 97/6 ' 75/-

Usance. Australia, N.Z. T.T. .. ... .. 35/Par. O.D. .. 5/30 days .. .. 10/60 days .. .. 15/90 days .. .. 52/6 20/-