COMMERCIAL

Southland Times, Issue 20537, 13 July 1928, Page 2

COMMERCIAL

FINANCE AND TRADE.

LOCAL MARKETS Times Office, Friday morning. GRAIN AND PRODUCE. Oafs: This market is at present rather dull and buyers are not prepared to give more than 4/- per bushel for A grades, f.0.b., s.i. There are now, however, no ! offerings from Invercargill at this price. Stocks owned by merchants are small, and it is probable that during the remainder of the season there will be little surplus to show. Prices to farmers remain the same as last week, viz., 3/2 to 3/3 for A’s, one penny more for super A’s, and 2d less for B grades. Good Duns are worth up to 3/4 per bushel. Wheat.—Offerings from farmers have practically ceased, but nominal value is 5/8 per bushel, on trucks, for milling Tuscan, with an increase of about 6d per bushel for Velvet. Chaff: This is now offering steadily and is sufficient, in quantity to supply the limited demand. Prices to farmers run from £4 to £4 5/- on trucks, country stations, according to railage distance. Ryegrass.—This market continues in a firm state, especially for high quality lines with good germination. Stocks of ryegrass are now in small compass and there is now little more held by merchants than is required for local spring trade. Low germination lines are also selling, but at greatly reduced prices. Value to farmers is from 3/- to 3/8 on trucks, country stations, according to quality. Potatoes: Supplies up to the present are sufficient to meet the demand, but good quality lines, particularly so King Edwards, Up-to-Dates, and Sutton’s Supreme are always in demand at from £4 15/- to £5 per ton. Arran Chiefs are worth £4 10/- and Gamekeepers £4 5/-. Seed potatoes are also in demand, King Edwards being ' w’orth £6 per ton. Arran Chiefs and Gamekeepers are not sought after and are proving difficult to quit. FRUIT AND VEGETABLES. Supplies of citrus fruits have now passed into the retailers’ hands, but fresh supplies are due at the beginning of the week. The market is bare of lemons. Mandarins and oranges are meeting with a good demand. Island oranges arrived during the week and sold readily on arrival. Supplies of apples are much lighter and values have improved. Pears also have eased and consequently higher values are ruling. Vegetable have a better inquiry, particularly cauliflowers and cabbages. Current prices are as follows:—Apples, dessert from 5/6 to 10/- case; cookers to 8/-; pears 2d to 24d lb; oranges, Californian to 40/-; lemons to arrive; mandarins to 24/- case; Poorman oranges to 20/-; cauliflowers 4/- to 9/dozen; cabbages 2/- to 3/-; parsnips 14/cwt; carrots 6/- to 8/-. CURRENT PRICES. —Wholesale.— Eggs, 1/6. 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, 1/10. 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, slbs 1/-. Potatoes, 71b 1/-. STOCK MARKET. Last Wallacetown sale saw smaller yardings of fat stock, this being particularly noticeable in the fat sheep section. Store cattle and store sheep yardings were also small. Fat sheep are not now offering so freely, there being a decided drop in the number brought forward for sale. The general quality of the sheep offering at last Wallacetown sale was quite good, and one or two pens of very prime wethers were sold. It was generally expected that prices would show a decided increase when yardings became smaller, but this did not take place, although values advanced slightly on those of the previous sale and the demand was quite keen throughout. It appears, however, that some of the butchers had stock on hand, and so competition was not as brisk as anticipated. If there is another small yarding at the next sale, prices should show a further advance, and competition should be stronger. At present extra prime heavy wethers meet with a very ready sale, prices paid ranging from 45/to 50/-. Prime heavy wethers sell steadily at prices ranging from 39/- to 44/-, medium weights 35/- to 38/-; and lighter sorts 32/- to 34/-. Fat ewes are not now offering so freely, but any good sorts meet with a steady sale. Extra prime heavy ewes up to 34/-; prime heavy ewes 26/to 30/-; medium weights and lighter sorts 21/- to 25/-. The general quality of fat cattle offering is not very good, and yardings are

comprised of very mixed cattle. Average cows and heifers are offering fairly freely, but not many prime ox and well-finished heifers are being sold at auction. The weather for the last month has been very rough, and this has probably prevented cattle fattening on turnips, from doing well. However, despite the fact that the general quality of the cattle offering is not above the average, prices are very good, and passings at sales are infrequent. Any prime heavy bullocks meet with a ready sale at prices ranging from £l5 to £l7; medium weights £ll to £l4, and lighter sorts down to £9. There is a keen demand for wellfinished heifers, and this type of beef sells almost as well as ox beef. Red or black poll cross cattle meet with the best sale, butchers being keen to secure cattle of this type. There is a steady demand for good cows which realize satisfactory prices. Prime heavy heifers £lO to £l2; medium weights £8 10/- to £10; lighter sorts £5 to £7 10/-. Prime heavy cows £9 to £11; medium weights £7 10/- to £8 15/-; lighter sorts £4 10/- to £6 10/-. Yardings of store cattle are comprised chiefly of empty cows with a few pens of young steers. There has been little or no change in values during the past week, the following being a range of prices. Three and four-year-old steers up to £9 10/-; two and three-year-old steers £5 15/-to £7 15/-; yearling steers £4 to £5 10/-; two and three-year-old empty heifers £4 to £5 10/-; yearlings £2 to £3 10/-; boners £1 to £2; good dairy cows (factory calvers) £6 to £9 10/-. The store sheep market remains quiet and values are very firm, there being a keen demand for any decent lines of sheep that are offered. Well bred ewe hoggets up 32/6; poorer sorts 25/6 to 28/6; full and failing mouth ewes up to 22/6; older sorts 12/- to 16/-. MARKET REPORT. The Kurow is due at the Bluff to-day with sugar and general cargo for this district. Latest cable advice announces a substantial advance in sago and tapioca. Quotations for Japanese onions to hand this week show a slight advantage in favour of buyers, even at the more favourable price it would be wise to delay buying for a week or so. London advises heavy buying of Jordan Almonds and prices are advancing. Sicily almonds are also affected and are steadily increasing in price. No market has been so unsettled as the pepper market of late, Singapore advise a slight reduction in pepper this week. EASTERN DISTRICT FAT STOCK. THE BURNSIDE MARKET. Vendors of Eastern District fat stock at the Burnside market on Wednesday realized the following prices:— Cattle: C. Carnie (Mataura Island), bullocks £l5, £l4 5/-, £l3 7/6, £l3 12/6, heifers £l2 15/-, £lO 12/6, £lO 7/6, cows £ll 7/6, £lO, £9 7/6, £9 and £8; D. J. Summers (Edendale), bullocks £l2 15/-, £l2 7/6, £lO 7/6 and £8 15/-; D. Macdonald (Edendale), heifers £lO 17/6, £lO 10/-, £9 12/-, £9 7/6 and £8 10/-; J. M. Frost (Titiroa), bullocks £l7 and £l5 10/-. Sheep: McGillivray Bros.’ (Kelso), wethers 56/-, 45/9 and 40/6, ewes 40/6 and 30/9; H. Harris (Heriot), wethers 48/3, ewes 38/9, 36/-; C. F. Robertson (’Koi), ewes 34/-, 33/3 and 28/9; A. Couston (Wairuna), ewes 25/-; Todd Bros.’ (Heriot), wethers 47/3, ewes 37/3; James Todd (Heriot), wethers 46/- and 41/9, ewes 28/3; J. Heath (Edievale), ewes 33/6 and 29/6; Findlay Bros.’ (Heriot), ewes 33/3 and 30/-; W. J. Mitchell (Clinton), ewes 25/9; Alex. Mac Kay (Wendon), ewes 41/-, 39/- and 34/3; Southland Farmers’ Cooperative Association (Gore), as agents, wethers 40/-, 38/- and 34/-, ewes 29/9, 27/3, 27/-, 29/9, 27/3, 27/- and 32/3, lambs 37/9; T. F. Landels (Mataura), wethers 45/6 and 31/-, ewes 30/- and 22/9; Henderson and Co. (Wyndham) as agents, wethers 45/6, 39/3 and 38/-; M. Curran (Waikaka), ewes 45/-; S. Black Waikaka), ewes 44/-; J. E. Watson and Co. (Gore), as agents, ewes 41/3, 26/9, 34/3, 29/6, wethers 38/9; Mrs Aitcheson (Heriot), wethers 35/3 and 32/3; Aitcheson Bros.’ (Heriot), wethers 34/6; A. Stuart (Kelso), ewes 30/-, 28/3 and 27/6; McGillivray Bros.’ (Kelso), lambs 53/- and 40/6; H. Kingdon (Gore), lambs 56/-; J. E. Watson and Co. (Gore), as agents, ram lamb 40/-, wether lambs 38/3; T. F. Landels (Mataura), lambs 32/6; C. W. Body (Kelso), lambs 47/-, 41/3 and 37/9; R. Yardley and Son (Moa Flat), lambs 40/6 and 42/-. WYNDHAM STOCK SALE. Messrs Dalgety and Company, Ltd., report:—Small yarding in all sections with prices much on a par with late rates. We sold: 300 ewe hoggets 27/6, 27 small wether hoggets 14/-; 200 wether hoggets 24/-; 24 small ewe hoggets 14/-; 1 store cow £1 10/-; 3 heifers £3 10/-; 3 pigs 22/-; 1 do. £l. DAIRY PRODUCE. Messrs A. S. Paterson and Co., Ltd., report having received the following cable from their London principals, dated 10th instant:— Butter: Market quietly firm 178/-. Cheese: Market active, strong 110/-. The New Zealand Loan and Mercantile Agency Co., Ltd., report, having received the following cablegram from their London Office under date July 11, 1928. Butter: New Zealand choicest salted 178/- to 180/-. LONDON WOOL SALES. Messrs Murray, Roberts and Co., Ltd., report having received a cable from their London agents, dated 10th instant, reading as under:— Sales have opened weak and very irregular—good attendance of buyers, competition good, all sections operating freely, poor selection offered. Compared with closing rates of last London sales:— Greasy Merino, market shows no change. Scoured Merino, none offering. Crossbred greasy and crossbred scoured, market shows no change. Slipe, fine crossbred and slipe medium crossbred, declined 5 per cent. Slipe, other descriptions, market shows no change. LONDON MARKETS. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of July 11, 1928. TALLOW SALES. At the tallow sales this week 807 casks were offered of which 307 were sold. Prices unchanged. DAIRY PRODUCE MARKET. Cheese and butter markets firm. Cheese, 2/- to 4/- higher. Butter, 4/- to 6/- higher. AUSTRALIAN MARKETS. (United Press Assn.—By Telegraph—Copyright.) (Rec. 8.10 p.m.) Sydney, July 12. Wheat: Growers’ Bagged lots at country stations 4/9; ex truck at Sydney 5/4. Flour: The export trade is lifalem Local £l3 10/-. Bran: £6 10/-. Pollard: £7 10/-. Oats: Tasmanian Algerian 4/9, 4/10; white 4/6, 4/10. Maize: Yellow 3/9; white 4/4.

Potatoes: Tasmanian £5 to £7; Victorian £5 10/-. Onions: Victorian £l4.—Australian Press Association. Adelaide, July 12. Wheat: Growers’ lots 5/24, 5/3. Flour: Bakers’ lots £l3. Bran: £5 17/6. Pollard: £7 2/6. Oats: 3/3.—Australian Press Association. PRICE OF BUTTER. INCREASE IN SYDNEY. (Rec. 8.10 p.m.) Sydney, July 12. The wholesale price of butter has been increased by a penny per pound to 196/per hundredweight.—Australian Press Association. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, July 12. Sales on ’Change: War Loan (1938) 4| per cent. £9B 10/-; Inscribed Stock (1939), 4| per cent. £9B 10/-; Canterbury Farmers’ Co-operative (1935) 6| per cent. £B3; Wilson’s Cement 38/6 (two sales) ; Waihi 12/6. Wellington, July 12. Sales reported: Union Bank £l5; Goldsbrough Mort and Co. 49/6; New Zealand Guarantee Corporation 9/-; Gear Meat 39/3; Staples and Co. (two parcels) 36/3. Christchurch, July 12. Sales on ’Change: Commercial Bank of Australia 29/6; National Bank of Australasia (£5 paid), £9 2/-; National Bank of New Zealand £7 3/9; Bank of New Zealand 59/3, 59/4, 59/6 (2 parcels); Dalgety and Co. £l4 15/-; Goldsbrough Mort 49/4; United Building 14/3; Tooths’ Brewery 45/-; Electrolytic Zinc (pref. cum. div.) 33/-; New Zealand Farmers Co-op. (64 per cent, stock, 1935), £B3 (2 parcels) ; Mahakipawa 3/4 (3 parcels), 3/7, 3/6, 3/5, 3/6 (3 parcels). Sale reported: National Bank of New Zealand £7 4/3. Dunedin, July 12. Sales reported: Staples’ Brewery 36/-; Waihi 12/3.