COMMERCIAL.

Sun (Christchurch), Volume II, Issue 603, 15 January 1916, Page 2

COMMERCIAL.

LONDON MARKETS. WOOL AND SHEEPSKINS. By Cable. — Press Associali«n. — Copyright. (Received January 15, 8.50 a.m.) LONDON, January 14. The second series of colonial wool sales will begin on February 2D, and will be limited to 80,000 bales, the lists closing on February 14. The third series will begin on April 4 and be limited to 80,000 bales, the lists closing on March 20. SHEEPSKIN SALES. LONDON, January 14. At the sheepskin sales 4847 bales were offered and sold. Combing merinos advanced lid, clothing and all crossbreds lid. HOME MAKKETS. The New Zealand Loan and Mercantile Agency Co., Ltd., has received a cablegram from London giving the undernoted market information:— Wool Sales.—Anticipation strong demand sellers' favour. Tallow.—We quote present spot values for the following descriptions:—Fine mutton 54/- per cwt; good beef, 52/- per cwt; mixed, 48/6 per cwt. The market Is active. INVERCARGILL WOOL SALES. Press Association. INVERCARGILL, January 14. A start with the wool sales was not made till 4 o'clock, owing to the attitude of the buyers, who requested the brokers that the time for payment be extended beyond the usual 14 days to such time as ships were available to carry the wool. The buyers stated that up to the last Christchurch sales they had been able to get their purchases away, but this week, of 17,000 bales bought, there was space available only for 7000. Some buyers had also been unable to procure space for part of their Timaru purchases. The freight in sight would provide space only for 23,000 bales, and it was estimated that 70,000 would be offered in the next four weeks; therefore they had decided that they could not afford to go on under the old conditions of payment, as it would mean a tremendous overdraft at the banks and an ultimate automatic stoppage of operations, for unless the wool could be shipped it was of no use to the buyer. Before the banker would pay he must have the shipping documents, which could only be given when the ship was named. After several conferences, the brokers agreed to the buyers' stipulated terras, and the farmers gave the same extension of time for payment to the brokers. The sale was a record one, 13,704 bales being catalogued, and pracUcally all were sold. Prices were Id better all round than at Dunedin and Christchurch. The range of prices was:— Halfbred, super to good, 17M to 19d. Good to medium, 16} d to 17d. Medium to inferior, 16d to 161 d. Fine crossbred, super to good, ißd to 18Jd. Good to medium, 16Jd to 17Jd. Medium to inferior, 14$d'to 151 d. Strong crossbred, 16d to 17d. Good to medium, 15Jd to 15d. Medium to inferior, 14] d to 14|d.

TO-DAY'S POULTRY MARKET. Messrs J. B. Merrett & Co. report an exceptionally large entry to-day, composed largely of hens. Prices were remarkably firm. Table chickens realised 6/0 to 10/1, ducks 4/6 to 8/7, pullets 3/6 to 10/-, geese 7/- to 8/-, hens 2/- to 5/3, all per pair.

THE EGG MARKET. The egg supply is good, also the demand. The Canterbury Egg Circle reports this week a large increase on last year. This is not due to extra production, so much as to concentration of supplies. First grades realised l/.">, second grades 1 'l. Country store eggs are dull of sale, from 1/2 to 1/3. The latter prices are due to want of grading and marketing in approved form. CUSTOMS. Duty amounting to £IO3B 10 '- was received at Christchurch yesterday; £1921 10/ C was Tor general Customs, £7 19/7 for light dues, and £C for other receipts. THE SHARE MARKET.

The Stock Exchanges throughout the Dominion re-opened for business on Mondaylast, after the vacation. While very little business has been reported during the week, the prices have been watched with considerable interest, but stocks have not fluctuated to any extent. The following is the latest information regarding the undermentioned stocks:—

Banks.—New Zealand: The partly paid issue is quoted, buyers £lO 3/6, without sellers. Buyers of the fully paid issue quote £l6, with no sellers under £IG "/-. Union: Buyers quote £sl without sellers. National: BuyCrs quote £5 ex dividend, which is slightly in advance of cum dividend prices.

Gas.—Christchurch: Buyers quote £7 7 6, with sellers at £7 10/-. Wellington: Several sales were reported at £l6, with buyers offering the same figures and sellers quoting £l6 2/6. Auckland: Buyers quote 20,1), with sellers at 30/6. Napier: Sellers of the £5 paid issue quote £9. Coal.—Westport: Sellers quote £1 8/without buyers. No business has been reported for several weeks. Westport Stocktons: Buyers quote 5/6 without sellers, which is the highest price this stock has reached for several years. Investors evidently anticipate a likelihood of a dividend on the ordinary shares. Taupiri: These shares have slightly declined, and sellers are now quoting 1-1/6. Meats.—Christchurch: Buyers of the fully paid issue quote £lO 7/6, and the £2 paid issue £3 2/6. These shares are very firmly held, and prices will certainly show an increase during the next week or two. Gear: Buyers offer £3 17/6, with sellers, for the £1 paid issue.

Insurance.—The only business reported under this section was a line of National Insurance at 46,'-. South British: Buvers offer £1 15,6 without sellers. National Insurance: Sales were reported at 40/-, with further buyers at this figure and sellers quoting £2 G/6. Standard: Buyers quote £1 15/-, without sellers. New Zealand: Buyers offer £6 5/-, with sellers at £6 ft/-.

Shipping.—Union: A sale of the preference issue was reported at 20/9. Buyers of the ordinary issue quote £1 4/G, with sellers at £1 5/-. These figures are slightly in advance of prices quoted prior to the holidays. Buyers of the preference issue quote £1 0/3 without sellers.

Woollens. —Kaiapoi: Buyers quote £5 4/without sellers. Wellington: Buyers quote £5 for the ordinary issue and £3 7/6 for the preference issue, without sellers. Oamaru: Sellers quote 26/6. Mosgiel: Buyers quote £3 15/- without sellers. Miscellaneous. —Buyers of Mason, Struthcrs fully paid issue quote £1 1/-, with sellers at £1 2/-. A sale of New Zealand Drugs was reported at 44/6, wjth further sellers at the same figure. Buyers of NewZealand Portland Cements quote 10/-, and sellers of New Zealand Farmers' Co-ops. quote £2 6/-.

Mining.—Waihi: The Waihi report for December is valued at £29,019. The total output for 1915 was £327,396. No sales were reported during the week, but prices have slightly advanced. Buyers quote 36/3, with sellers at 37/9. Grand Junctions: A sale was reported at 20/-. Buyers now- quote 19/6, with sellers at 20/3. Talisman: No business has been reported this week. A dividend of 1/- per share was paid on the Bth tost. Latest quotations show buyers 15/3, sellers 10/-.