COMMERCIAL

Southland Times, Issue 20396, 27 January 1928, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS Times Office, Friday morning. GRAIN AND PRODUCE. Oats—There is very little to report except that some interest is being shown by buyers in forward oats which have been sold up to 3/6 f.0.b., s.i. Southland oats have been cleaned up. Value to farmers is 2/9 for “A” grades and 3d less for “B’s”. Wheat.—The only business being done is in sales for the local fowl-feed purposes, supplies for which are being drawn from other markets. Southland wheat for the incoming season will not be available for a month or two, and it is too early to indicate values. Tuscan will probably realise 5/8 to 5/9 a bushel. Chaff.—The market is fairly well supplied and offerings have been fairly plentiful since the holidays. Value to farmers for best quality is £4 5/- per ton. Ryegrass. —There has been very little improvement in the shipping demand, and it seems likely that supplies w’ill be wanted shortly from different quarters for shipment in addition to the requirements for local bush burns. It is anticipated that the incoming season’s crop will be smaller than usual so that the present stocks held in store will probably all be required in addition to new purchases. Farmers are advised to see that their crops are allowed to ripen properly before cutting, as the state of the trade and ability to sell the seed depends largely on germination. Low germination seeds will be difficult to dispose of. Potatoes. —The only business being done is in early lots of local and northern potatoes to satisfy the local demand. Values are in keeping with ruling rates. FRUIT AND VEGETABLES. The stone fruit season is now in full swing. Heavy consignments of all varieties of fruit are arriving daily. The samples of apricot to hand are particularly fine, and as a consequence first-class prices have ruled. The state of the peach market is quite the contrary. Large proportions of the fruit arrived over-ripe and low prices were accepted to make a sale. Raspberries are also coming to hand in full supplies. The first of the season’s New Zealand-grown apples reached the market during the week and met with a keen demand. Tomatoes have been very scarce, but supplies increased slightly towards the end of the week. Early pears, lemons and ’Frisco oranges are available and Fiji bananas are due next week. Current prices are as follow:—Apricots 2d to sd; peaches, best samples, to 4Ad, boxes 2/6 to 5/6; plums 2d to lb, according to grade and variety; tomatoes lOd to 1/5; cucumbers 6/- to 9/6; black currants wanted; gooseberries Id to 2d lb; lemons 75/- case; Navels 45/- to 52/6, according to counts; cabbages unsaleable; green peas lid to 2Ad; French beans 3d lb. CURRENT PRICES. —Wholesale.— Eggs, 1/6. Bacon, 1/-. Pollard, £8 15/- per ton. Butter, factory 1/6A, farm Bd, separator lOd. Bran, £6 15/-. Flour, £l7 15/- to £l9 10/-. Oatmeal, £26 to £3O. —Retail.— Eggs, 1/10. Bacon, 1/4. Pollard, 11/6 per 100. Butter, factory 1/8 nett cash, 1/9 booked; farm lOd; separator 1/-. Bran, 9/- per 100. Flour, 25’s 6/3; 50’s 12/3; 100’s 22/9; 200’s 41/6. Oatmeal, 251 b. 8/9; 501 b. 17/-; 1001 b. 31/6; 2001 b, 59/-; loose 5d lb. Cheese, 1/-; matured 1/4. Onions, 61bs for 1/-. Potatoes, new 3d per lb.

WYNDHAM STOCK SALE. Messrs Hunter Bros, and Rice report:— Sheep.—A fair yarding forward consisting principally of wethers and lambs. Fat wethers showed a decline while stores were fairly keenly inquired for. Store lambs were not so eagerly sought after owing, no doubt, to rape feed being not quite ready. We sold: Twelve fat wethers at 31/-; 17 1 do. Til-; 15 fat ewes 12/11; 4 fat lambs 26/9; 1 do. 21/-; 12 ewes 11/7; 109 store lambs 22/2; 35 f.m. ewes 3/-; 152 ewes and lambs 15/7; 225 ewe lambs 22/10; 37 wether lambs 9/9; 57 ewe lambs 15/4. Cattle.—A small yarding consisting mostly of fat and forward cows and heifers. We sold: One fat cow £4 10/-; 1 dairy heifer £6 15/-. Pigs.—Two at 20/-; 2 at 18/6; 1 at 12/-; 2 at 10/6. Messrs Henderson and Co., Ltd., report:— Medium yarding of both sheep and cattle, fair attendance of buyers. The sheep yarding consisted mostly of fat wethers and good rape lambs. All classes were keenly competed for and sold at rates slightly in advance of last sale. The cattle yarding was mostly fat and store cows. The demand was not so keen as last sale, with the result that rices dropped from 20/- to 30/- per head. Our sales were:— Sheep.—Fifteen fat. wethers at 28/-; 13 fat ewes at 15/6; 59 f.m. ewes at 9/-; 256 fat and forward lambs at 24/6; 2 do. at 21/-. Cattle.—Two fat cows at £7 17/6; 2 do. at £7 12/6; 1 do. at £7; 3 do. at £6 15/-; 1 do. at £6 7/6; 1 bull at £4; 4 store bullocks at £7 5/-; 1 steer at £5 5/-; 1 do. at £3 10/-; 1 cow and calf at £5 12/6. A.M.P. SOCIETY. It is announced by the above society that the total new business completed for the year 1927 is £19,459,808, comprising £15,397,528 for the ordinary department and £4,062,280 for*the industrial department, which exceeds the previous year’s figures by over one and a-half millions and is an absolute record. New Zealand has also put up a splendid record for the year, having provided over £4,000,000 of the whole total. LONDON MARKETS. The Department of Agriculture has received the following cablegram dated the 21st instant from the High Commissioner for New Zealand, London:— Tallow: Poor demand at auction. No change in prices. Eggs.—Only moderate supplies coming forward and demand is good. Current prices are:—English, Dutch and Danish 23/- to 26/- per long 100; French 20/- to 25/- per long 100; Belgian 21/- to 22/per long 100; Egyptian 9/3 to 10/9 per long 100. Hemp: Manila inarket easier early this week, but market firmer towards the close. Fair business has been done in “J” grade up to £4l 10/- for January-March shipments. Output from January Ito December 31 1,290,000 bales against 1,240,000 for same period in 1926. Stocks in Manila on December 31, 1927, 155,000 bales against 112,000; in Great Britain 13,000 against 5000. Sisal irregular, but market steadier towards the close. No. 1 close at hand and

January-March shipments sold at £36 15/to £37. No. 2 dragging but afloat sold at £35 5/- with probable buyers of JanuaryMarch shipments at £35. New Zealand: Moderate business reported in Highpoints for America. Fair neglected. Small demand for Common, but very little offering. Value Highpoints £34 10/-, Fair £32 5/-, Common £3l 15/-; and tow, second grade £2l, third grade £l9, for JanuaryMarch shipments. Stocks in London on December 31, 1927, 53 tons, against 10 tons In 1926. Wool.—Sales continue well attended with competition brisk. Opening rates firmly maintained. DAIRY PRODUCE. The New Zealand Dairy Produce Board reports having received the following market report from its London office, dated January 22, 1928: Butter: New Zealand salted 151/- to 154/-; unsalted 156/- to 160/-. Market quiet, but fair sales at the lower prices. Deliveries New Zealand last week 1840 tons, in store 3,560 tons. Australian finest, salted 148/- to 152/-; unsalted 150/- to 154/-. Argentine finest, unsalted 144/- to 148/-; exceptional 150/-. Danish 172/- to 174/- spot; 165/- f.o.b. Dutch creamery unsalted 184/- to 186/-. Retail prices unchanged. Cheese: New Zealand white and coloured 90/- to 91/-; exceptional white 92/-. Canadian finest, white 100/- to 104/-; coloured 98/- to 102/-. Australian finest coloured 86/- to 90/-. Market quiet. English finest farmers, 126/- to 130/-. Retail prices unchanged. The board has also received the following advice from its agents in Canada:— Butter.—San Francisco, extras 46 cents (1/11); Vancouver inarket, New Zealand finest 37A cents (1/6|); Australian first 364 cents (1/61). THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, January 26. Sales on ’Change: Inscribed Stock (1938) 4| per cent. £97; New Plymouth (1933) 5] £97 10/-; Commercial Bank of Australia 29/3, 29/3; Bank of New Zealand 59/1; Taupiri Coal 25/-; Auckland Gas 23/4; Devonport Steam Ferry 24/-; Northern Steam Ship 14/9; Staples and Co. 41/-; British Tobacco 39/9; Electrolytic Zinc (ord.) 31/9; New Zealand Refrigerating 18/6; New Zealand Refrigerating (cont.) 8/9; Lucky Shot 1/5, 1/6; Ohineniuri 6/9. Wellington, January 26. Sales reported.—Union Bank £l4 6/6 (ex div); 41 per cent. Stocks (1938), £97. Christchurch, January 26. Sales on ’Change: Bank of New Zealand 59/1 (2 parcels) ; Goldsbrough Mort 47/3, 47/4; Staples Brewery 41/3 (2 parcels). Sales reported: National Bank of Australasia (£5 paid), £8 11/-; Staples Brewery 41/-, 41/6; British Tobacco 39/9. Dunedin, January 26. Sale reported: Electrolytic Zinc (ord.), 31/9.

AUSTRALIAN LOAN. (By Telegraph.—Press Assn.—Copyright.) London, January 25. The Australian loan at 5 per cent, is being underwritten to-morrow.—A. and N.Z. TALLOW SALES. London, January 25. Tallow: 577 casks were offered, of which 56 sold at 6d decline. Quotations: Mutton, fine 40/9; medium, 36/6. Beef, fine 41/6; medium, 36/6.—A. and N.Z. and Sun. Messrs Dalgety and Company, Limited, report having received the following advice from the head office, London under date January 25, 1928: Tallow Sales: At the tallow sales this week 577 casks were offered. Fine mutton unchanged. Other descriptions 6d lower. CANADIAN WHEAT CROP. Ottawa, January 25. Bureau statistics places the 1927 wheat crop at 440,024,700 bushels from 22,460,000 acres.—A. and N.Z. CALCUTTA TEA SALES. PRICES SHOW UPWARD TENDENCY. (Rec. 5.5 p.m.) Delhi, January 25. At the Calcutta tea sale, the average prices were:—Common Pekoe Souchong, 12 annas to 12 annas 6 pies; clean Common Broken Pekoe Souchong 12 annas 3 pies to 12 annas six pies; even black leaf Pekoe 14 annas 6 pies to 14 annas 9 pies. The only weakness noticeable was in plain medium fannings, which ruled three to six pies lower. For all other descriptions the market was more active than lately, resulting in an upward tendency in prices. Dusts were in strong demand at last week’s rates. Special rates were Broken Orange Pekoe Common, 13 annas 6 pies; medium 14 annas; good, 15 annas; Broken Pekoe Common, 12 annas 6 pies; medium, 13 annas; good 14 annas; fannings, common 11 annas 6 pies; medium, 13 annas; good, 14 annas 6 pies.—A. and N.Z.