COMMERCIAL

Southland Times, Issue 20525, 29 June 1928, Page 2

COMMERCIAL

FINANCE AND TRADE.

LOCAL MARKETS Times Office, Friday morning. GRAIN AND PRODUCE. Oats.—The market for shipment is again firmer and sales have been made at 4/2 per bushel, f.0.b., s.i. Bocal merchants have firmed up the price as the bulk of the stocks have been cleaned out and it is doubtful if there would be any sellers under 4/3. This part of the island has had an early clean up of oats and merchants’ stocks are now reduced ot their requirements for seed in the spring and local feed throughout the season. Value to farmers may be quoted at 3/2 to 3/3 for A grades and Id more for super A’s. B grade samples are valued at 3/- to 3/1 per bushel, while good Duns are commanding 3/4 bushel. Wheat.—The majority of the farmers’ tines are now cleaned up. There is no improvement in the market and the price throughout the season is 5/8 per bushel, on trucks, country stations, for milling quality Tuscan.

Chaff.—The supply keeps pace with the demand and the quality, generally, is good. Price to farmers is £4 5/- on trucks, country stations.

The ryegrass market continues to be firm. Practically the whole of merchants’ holdings from last season have now been cleaned up, and the bulk of the grass seed of this season’s growth has been dealt with. The price to farmers is from 3/- to 3/8, according to weight and quality. Potatoes.—These have been offering steadily for some time past. Good quality King Edwards are worth £5 per ion, on trucks, country stations; Arran Chiefs are not so much in favour at £4 10/-; Gamekeepers are not sought after and command £4 5/per ton on trucks. FRUIT AND VEGETABLES. Apples are still in good supply. A large quantity of the dessert varieties are of poor colour, and these are selling at a low figure. Cookers are in good demand. Small sized fruit is difficult to dispose of even at the lowest prices. The market is well supplied with oranges and ’inandarins from Australia, but values are not high. The first pineapples for the season arrived by the Karetu during the week and sold under keen competition. Lemons are in short supply and will continue so until the next Melbourne boat arrives. A further shipment of mandarins and oranges are due to leave Sydney on July 5. Island oranges should come to hand next Wednesday. Values for the last consignment were too low to recompense consignors and a continuance of the low prices will mean a curtailment of supplies. A shipment of Fiji bananas arrived last week and met a poor demand, fruiterers being afraid of frostbite. In the vegetable market cauliflowers hold sway, being most in demand. Carrots are in over-supply, but there is inquiry for cabbage and parsnips. Current prices are as follows: —Apples, Delicious, 8/- to 10/-; small 4/- to 6/6; Jonathans and Cleopatras 5/6 to 7/6; others 5/- to 7/-; pears Ijd to 2d lb; overripe 1/6 to 2/6 box; ripe bananas 30/case; oranges, American Valencias, 40/case, Australian Navels to 23/-; mandarins to 30/-; jam melons, Australian 2d lb, New Zealand 9/- sack; vegetable marrows 7/- to 8/- sack; cauliflowers, best samples 9/dozen; others, 3/- to 6/-; Cabbages 1/- to 2/6 dozen; parsnips 14/- cwt; carrots 5/to 7/- cwt. CURRENT PRICES. —Wholesale.— Eggs, 1/10. Bacon, 1/1. * " Pollard, £9 5/-. Butter, factory 1/5 and 1/6; separator 1/- to 1/1. Bran, £7 15/-. Flour, £l7 15/- to £l9 10/-. Oatmeal, £2B to £3O. —Retail.— Eggs, 2/-. Bacon, 1/4 to 1/5. Pollard, 12/- per 100. Butter, 1/6, 1/7 and 1/8; separator 1/3. Bran, 9/6 to 10/- per 100. Flour, 25’s 5/9 to 6/3; 50’s 10/6 to 12/3; 100’s 20/6 to 22/9; 200’s 40/- to 41/6. Oatmeal, 25’s 7/6 to 8/9; 50’s 13/6 and 15/6 to 17/-. Cheese, 1/-; matured, 1/2 to 1/4. Onions, 51bs 1/-. Potatoes, 71b 1/-. STOCK MARKET. The only stock sale of any importance held during the last week was the usual fortnightly sale held at Wallacetown, when there were average quality yardings in all sections. Fat sheep are still offering very freely, but yardings of other classes of stock are not so large. At the present time there is a keen demand for prime beef, and good quality cattle meet with a steady sale. For ordinary beef, not very well finished, there is only a fair demand. Some of the butchers bought freely earlier in the year and still have supplies on hand, and consequently, competition is not now so keen. However, considering the quality of the cattle offering vendors are obtaining satisfactory prices and passings at sales are not frequent. Yardings of fat sheep are larger than usual but the market continues to absorb all the sheep offered for sale. Good wethers sell well and there is a keen demand for any extra heavy well finished sheep. The fat lamb season is now practically finished locally and the last drafts are being sent away. Yardings of store stock are small, but the market for both sheep and cattle is very firm.

The following is a range of prices ruling at the present time: — Fat Cattle. —Prime heavy bullocks £l4 to £l6; medium weights £lO to £l3; lighter sorts £8 to £10; prime heavy heifers £8 to £10; medium weights £6 to £8; lighter sorts down to £5 10/-. Prime heavy cows £7 10/- to £9 10/-; medium weights and lighter sorts £4 to £7; good vealers up to £3. Store Cattle.—Three and four-year-old steers up to £9 10/-; two and three-year-old steers £6 to £8; yearling steers £4 to £5 10/-; empty cows and heifers in good condition £4 to £5 5/-; boners £1 to £2 10/-.

Fat Sheep.—Prime heavy wethers 38/to 44/-; medium weights 34/- to 38/-; lighter sorts 32/- to 34/-; prime heavy ewes 28/- to 32/-; medium weights 22/- to 26/-; lighter sorts down to 18/-.

Store Sheep.—Well-bred ewe hoggets up to 32/6; poorer sorts 25/- to 28/6; full and failing mouth ewes up to 22/-; older sorts 12/- to 16/-. MARKET REPORT. The Kurow was due to leave Auckland last night with sugar and general cargo for this district. The cheese market is firm and higher prices will be in evidence shortly. The London market has recently experienced a rise for New Zealand cheese and butter. Local supplies are very short. Reports from Norway state that the outlook in the Bristling Canning industry is not bright, shoals are difficult to locate and the fish too small to be of any market value. Unless the fishermen are soon rewarded with success supplies will be short and prices high. Melbourne onions are appearing on this market, but prices are too high to put Canterbury out of demand. Japanese onions are on offer for forward delivery, but the price is prohibitive at present. Those interested in Australian tinned fruits would do well to book up for sliced peaches, supplies are short both in Australia and California.

BURNSIDE MARKET.

EASTERN DISTRICT SALES. Vendors of Eastern District fat stock secured the following prices at the Burnside market on Wednesday:— Fat Cattle: R. Yardling and Son (Heriot), 2 bullocks £22 10/-, 5 £2OC. Carnie (Mataura), 2 bullocks £l5 17/6, 2 £l4, 1 £l7 15/-, 3 £l5 12/6, 3 £l4 17/6, 2 £l4 10/-, 2 heifers £lO 12/6, 1 cow £l3 7/6, 1 £ll 2/6; W. Pringle (Kelso), bullock £l5 17/6, cow £11; J. R. Matthews (Wyndham), 3 bullocks £l5 10/-, 3 £l4 10/-, 1 £l5 10/-, 2 £14.5/-, 3 £l3 7/6, 2 £l2, 1 heifer £l2 10/-, 3 £9, 4 £B, 3 £7; Donald McDonald (Edendale), heifers £l3 17/6, £l3 10/-, £l2 17/6, £ll 17/6, £lO 17/6, £lO 2/6, £lO, £9 17/6; John Black (Mataura), heifers £9 12/6, 2 £9 2/6.

Fat Sheep: Harold Sanders (Pomahaka), 9 wethers 49/3, 7 41/6, 20 ewes 30/9, 4 27/9, 9 26/-; H. W. C. Horrell (Mandeville), pen wethers 46/6, 12 36/-, 15 ewes 27/3; A. Taylor (Longridge), 28 ewes 33/6, 6 32/3, 9 26/-; H. Mason (Otikerama), 7 ewes 25/-; A. Farmer (Edievale), 13 ewes 27/3; Todd Bros. (Heriot), 11 wethers 52/6, 16 49/6, 9 48/6, 12 ewes 36/9, 21 33/6, 16 32/9, 15 32/-; James Todd (Heriot), 22 33/6, 11 32/-, 23 31/3; A. W. Sim (Heriot), 31 wethers 37/6; D. Crossan (Kelso), 3 wethers 49/3, 14 ewes 32/9, 11 32/6; W. J. Spittle (Waikoikoi), ewes 46/6, 18 43/6, 11 37/9; 15 35/6, 10 wethers 42/9; J. Black, jun. (Kelso), 4 wethers 46/-, 11 ewes 34/-; Fleming Bros. (Crookston), 16 ewes 39/-, 21 38/3, 17 36/-; D. A. Falkiner (Kelso), 15 ewes 30/9, 11 28/3; W. Oliver (Kelso), 25 ewes 28/-; J. W. Kerr (Kelso), 14 ewes 28/9, 11 28/-; Southland Farmers’ Co-op. (Gore), as agents, 18 wethers 43/-, 8 41/9, 7 32/6; J. D. Edgar (Tapanui), 25 ewes 35/6, 17 32/9; William Duffy (Tapanui), 20 ewes 30/6; D. Bruce (Otama), 16 wethers 52/-, 12 46/-, 10 44/-; R. F. Sim (Heriot), 4 wethers 42/-, 28 ewes 32/5; 12 34/6; Henry Smith (Waikaka Valley), 12 ewes 36/6, 15 31/9; T. B. Johnson (Otama), 19 ewes 29/9.

Fat Lambs: A client (Edievale), pen lambs 37/-, 36/6, 27/-. H. W. C. Horrell (Mandeville), 16 35/9, 6 31/-; R. Edie (Edievale), 27 33/-; J. McDonald “Fassifern,” Tapanui, 67 35/3, 24 34/6, 33 32/6; Todd Bros. (Heriot), 9 34/-; Southland Farmers’ Co-operative Association (Gore), as agents, 20 34/-, 5 32/-; W. Oliver (Kelso), 3 34/-; J. W. Kerr (Kelso), pen lambs 22/-, 1 20/-; S. White (Waikaka Valley), 4 42/3; T. F. Landels (Mataura), 36 24/6.

WYNDHAM STOCK SALE. Messrs Hunter Bros, and Rice report:— A very small yarding of both sheep and cattle with prices on a par with late rates. Fifteen fat wethers 43/-; 10 wethers 28/-; 110 ewe hoggets 31/6, 1 fat cow £6 17/6, 1 store cow £2 10/-. Pigs, 21/6 down to 12/-. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, June 28. Sales on ’Change: Inscribed Stock (1936) 54 per cent. £lOO 17/6; New Zealand I reweries Debentures 22/74; Commercial Bank of Australia 29/7; National Bank of New Zealand Limited £7 6/-; Union Bank of Australia £l4 18/6; South British Insurance 60/-; Hikurangi Coal 5/2; Hikurangi Coal (A pref.), 8/4; Westport Coal 30/3; Westport Stockton Coal 3/14; Colonial Sugar £59 17/6; New Zealand Farmers’ Fertilizers 86/-; Wilson’s Cement 36/9; Waihi Grand Junction 1/4. Wellington, June 28. Sales on ’Change: Bank of New Zealand 59/-; National Insurance 15/10. Christchurch, June 28. Sales on ’Change: Australian Bank of Commerce 35/10; National Bank of Australasia (£5 paid), £9; South British Insurance 60/- (2 parcels) ; Goldsbrough Mort 48/9; United Building Society 14/-; Tooths Brewery 43/8; Beath and Co. 33/-; Mahakipawa 3/9 (2 parcels), 3/11 (5 parcels), 3/10, 3/9 (5 parcels), 3/10 (10 parcels), 3/11 (2 parcels), 3/10 (3 parcels), 3/11 (13 parcels). Sales reported: Commercial Bank of Australia 29/7; Union Bank of Australia (Melbourne register) £l5; South British Insurance 60/-; National Mortgage (cum. div.) 79/-. Dunedin, June 28. Sale Reported: Bank of New Zealand 59/3. AUSTRALIAN MARKETS. (United Press Assn.—By Telegraph—Copyright.) (Rec. 8.55 p.m.) Sydney, June 28. Wheat: Growers’ lots at country stations 4/9, ex truck at Sydney 5/44. Flour: The export trade Is lifeless. Local £l3 10/-. Bran: £6 10/-. Pollard: £7 10/-. Oats: Tasmanian Algerian 4/9, 4/10; white 4/6, 4/10. Maize: Yellow 4/-; white 4/4. Potatoes: Tasmanian £4 to £6. Onions: Victorian £l4. (Rec. 8.55 p.m.) Adelaide, June 28. Wheat: Growers’ lota 5/3, 5/4. Flour: Bakers’ lota £l3 10/-. Bran: £5 17/6. Pollard: £7 2/6. Oats: 3/3.—Australian Press Association. FRUIT QUOTATIONS. London, June 27. South Australian apples, Jonathans, 11/to 12/-; Romes 10/6 to 11/6; Cleopatras 11/6 to 12/6; Rokewoods 12/- to 13/-; Nickjacks 12/-. Port Adelaide’s New Zealand Jonathans 9/- to 13/-; Cleopatras 12/- to 14/-; Newtons 11/- to 13/-; Spitzbergens 10/- to 12/-. New Zealand pears, trays ex Port Adelaide: Winter Nelis 4/- to 7/6; ex lonic, 1 somewhat overripe, Winter Nelis 2/- to 14/-; Barrys 3/- to 4/-.—Australian Press I Association. NATIONAL BANK OF NEW ZEALAND. PROFIT FOR YEAR. London, June 27. The National Bank of New Zealand after paying the staff a bonus of £15,000 shows a nett profit of £465,572; premium account £10,000; pension gratuity fund £10,000; carried forward £165,572. —Australian Press Association. WHEAT CARGOES. London, June 27. Wheat.—Cargoes are steady and the tone of the market is in sympathy with American advices, but there is little business. Part of the Cymric’s cargo realized 52/44. Parcels in poor demand and occasionally lower. Ex Orsdale, 51/14. Liverpool futures: July 10/0j; October 10/5; December 10/7s. Gold, 84/104 per ounce. Peninsula, £238. Ta110w.—522 casks were offered, and 439 sold. The quality was good, but mixed prices advanced a shilling. Mutton, fine, 42/3; medium, 38/-; beef, fine 42/-; medium 38/-.—Australian Press Association. DAIRY PRODUCE. Messrs A. S. Paterson and Co., Ltd., report having received the following cable from their principals, Messrs J. & J. Londs-

dale and Co., Ltd., London, dated 25th instant:—Butter: Market firm 178/-. Cheese: Market active 105/-.

Messrs Dalgety and Company, Limited, report having received the following ad- j vice from their head office, London, under date June 25: Dairy Produce Market.—Butter: 2/higher. Messrs Dalgety and Company, Limited, report having received the following advice from their Head Office, London, under date - of the 26th inst.:— Cheese: Since our last wire prices are 1/higher. , LONDON MARKETS.» The Department of Agriculture has received the following cablegram, dated the 23rd instant, from the High Commissioner for New Zealand, London: — Hemp: Manila market quiet. Sellers quote “J” grade July-September shipment i and August-October shipment at £37 5/-. • Sisal market slow and easier. Closing values July-September shipment, No. 1 £34 to £34 10/-; No. 2 £32 10/- to £33. New Zealand market very quiet and values unchanged. Wool: Bradford tops market quiet. Fair inquiry for crossbred tops. Average quotations for tops are:—64’s (Merino) warp 4/7 per lb; average 4/54 to 4/6 per lb; 56’s (super halfbred) 3/5 per lb; 50’s (halfbred) 2/74 to 2/8 per lb; 40’s prepared 2/14 per lb. Apples: Ex lonic on market. Condition fair apart from bruise in Stunner. Port Adelaide commences discharge to-day. Market quiet and large Stunner difficult tot sell. London prices:—Dougherty and Statesman 12/- to 14/- per case; Dilicious and Rome Beauty 12/- to 13/-; Sturmer 10/- to 12/6; Pioneer 12/-. Pears: Ex lonic, P. Barry sound and Winter Nelis very wasty. Prices: P. Barry 4/-; Winter Nelis 2/6 to 3/- per tray, and sound repacked 5/- to 6/Otago pears ex Port Adelaide very good. Prices: Winter Nelis 5/6 to 6/6 per tray. The New Zealand Meat Producers’ Board has received the following cable from its London Office, dated June 22, 1928, advising Smithfield delivered prices averaged for week ending that date as follows: (Prices for the previous week are also shown). (Per lb). 22/6/28.15/6/28. d. d.

N.Z. Wethers and Maidens; Canterbury quality; selected brands— 74 571b to 641b 75 571b to 641b 75 75 651b to 721b 65 61 Other brands— 561b and under •.. .. 7.1 78 571b to 641b 7 651b to 721b 6* 6g N.Z. Ewes— 641b and under 5* 55 N.Z. Lambs; Canterbury quality361b and under 103 101 371b to 421b 95 10 431b to 501b 98 95 Seconds 95 95 Selected brands— 361b and under log 10? 371b to 421b 95 95 Other brands, first quality— 361b and under 10 10J 371b to 421b 98 9s Second quality, 30/32 aver. 10 10 Argentine Lambs; first quality— 361b and under 8} 371b to 421b —— 8 N.Z. Beef— Ox fores 4 4 Ox hinds 6 55 Cow fores .. .. 3} 35 Cow hinds 5 5 Argentine Chilled Beef— Ox fores 44 41 Ox hinds 74 71 Frozen Pork— Porkers, 601b to 801b 75 74 811b to 991b 6} 63 1001b to 1201b 63 61 Baconers, 1211b to 1801b .. .. 74 74 Lamb Market: Slightly easier tendency. Consumption good. Mutton Market: Weaker, owing to increased Home killed supplies. Beef Market: Firm with good demand.