COMMERCIAL.

Taranaki Daily News, 12 June 1926, Page 4

COMMERCIAL.

CANTERBURY MARKETS. By Telegraph.—Press Association. Christchurch, Last Night Potatoes have taken a remarkable jump up In value. A fortnight ago values were forced down to £5 5s a ton, f.o.b. sacks in, for Juno delivery, and to-day the value is £7 to £7 ss. July’s were sold at £5 12s 6d to-day (or yesterday), while £7 15s was paid for July. September deliveries, a fortnight ago were down to £6, to-day they aro £8 to £8 ss, and yesterday they were £8 7s 6d. Up to £9 has been offered from Sydney for July-September deliveries, but operators are chary of the latter months. The rebound has been extraordinarily pronounced. It was suggested a fortnight ago that the farmers’ abstentation from offering would restore stability to the market, and such has proved to be the case. The Sydney market still remains healthy in tone, and all the circumstances, according to Australian produce reports, point to this condition continuing. If Sydney should happen to go slow, then there will be real cause for a break, as there will be too many potatoes for local consumption. Two vessels left during the week for the north, the Katoa with 2500 sacks, and the Kaimanawa with 2300, whilst the Wingatui is duo to sail at the end of this week. There is little Inquiry from the north, under the weight of tubers that have gone up, and a few operators are offering their potatoes back. The market is unchanged for grade oats. ! Up to 4s 3d is available for prompt A Gartons f.o.b. sacks in, and 4s for B’s, this price being advanced by a penny for later months. Perennial ryegrass is lifeless, though to 5s Gd per machine-dressed, and 3s 6d on trucks is Quoted. Italian is Quoted at 4s 6d to Is fid f.o.b. sacks in, or 2s 9d to 3s on trucks. Imported cocksfoot is quoted at 70s per cwt, the cheapest price for years. The cause Is the collapse of the Danish market. Values on trucks here are Gd to 6%d per lb. Cowgrass has been bought at 8d to 9d a pound on trucks. The white clover market has been affected by last year’s importations of cheap seed. The local market came lower than was anticipated, and most of this imported seed is in the southern and North Island merchants’ hands. The New Zealand crop has been a good one. Southland reports are that dogstail is up in the air. Prices are to farmers, for machinedressed, from Is 4d to Is 7%d per lb. Fescue is quoted at Sd a lb. There has been some export, but the market is disposed to ease.

DOMINION SHARE MARKETS. CHRISTCHURCH SALES. Christchurch, June IlReported sales: New Zealand Government 5% per cent. Inscribed 1933, £99 12s 6d; National Insurance, 79s 3d; New Zealand Refrigerating Co. (con.), 8s 3d (two parcels). Sales on 'Change: Goldsbrough Mort, (cum div.), 49s 5d (three parcels) ; Kaiapoi Woollen Co. (7s paid), 4s; New Zealand Refrigerating Co. (con.) 8s 3d; Staples’ Brewery, 38s lOd; British Tobacco Co. (cum div.), 525. AUCKLAND SALES. Auckland, Last Night. Stock Exchange Sales—lnscribed Stock, 1927, £9B 10s; South British, 60s; Goldsborough Mort, 9s 6d; Taupiri, 18s 9d, 18s 9d; Auckland Gas, 23s lOd; Auckland Gas (cont), 8s 8d; National Timber, 17s; Taranaki Oil, 12s fid; Alburnia, 5s 9d; Kawarau, 7s Id, 7s Id, 7s 3d, 7s 3d, 7s 4d; Lucky Shot (Cont.), Is 6d, Is fid, Is lOd, Is 9d, Is 8d; New Walotahi (cont.), Is Bd. BANK OF ENGLAND RETURNS.! Received June 11, 5.5 p.m. London, June 10. The Bank of England returns for the week ended March 10 are as follow: — Issue Department—Note circulation, £140,380,000; notes in reserve, £27,203,000 ; total, £167,583,000. Government Debt, £11,615,000 ; other securities, £8,735,000; gold coin and bullion, £147,833,000; total, £167,583,000. Banking Department-Proprietors' capital, £14,553,000; other capital, £3,266,000; public deposits, £9,775,600; other deposits, £lOB,214,000; seven-day and other bills, £3OOO ; total, £135,811,000. Government securities, £39,455,000; other securities, £68,002,000; notes in reserve, £27,203,000; gold in reserve, £1,151,000; total, £135,811,000. Proportion of reserves to liabilities, 2-1 per cent. Short loans, 4 per cent.; three months bills, 4 9-32 per cent. THE LONDON MARKETS. Received June 11, 8.7 p.m. London, June I<J. Wheat cargoes are in fair demand for those near at hand, but business is slow, a bullish report from Washington being already discounted. Parcels are in quiet request, with occasionally a better demand. Sales have been made at from 58s 6d to 60s. Liverpool futures aro quoted as follows: —July, Ils 6%d per cental; October, 10s B%d. Better business is doing in the spot trade at rather firmer prices. Australian, ex ship, 635. Flour.—The market is quiet. Australian exstore, 46s fid. Oats. —The market is firmer. A grade Gartons are realising 33s to 345. Peas. —Blues are meeting with more inquiries. Tasmanian, 240 s to 3605; New Zealand, 240 s to 3405. LONDON WOOL SALES. London, June 10. The wool sales closed firm, the latter part of the series being marked by a good attendance and growing confidence amongst buyers. Competition by Continental buyers was active throughout, and the Yorkshire trade buyers also operated more freely during the closing week, but the United States’ demand was conspicuously absent. Merinos (greasy) dosed strong, being sometimes 5 per cent, above the opening sales in April. Scoureds were somewhat erratic with frequent withdrawals, but prices were generally in the sellers’ favour. Average to faulty combing sorts showed fully 5 per cent, advance. In the crossbreds fine were firm, but the medium and lower grades were generally about 5 per cent. down. In lambs there was an active demand for merinos at. fully 5 per cent, advance; crossbreds being at par. The New Zealand clip Mangatoi made 14%d and 13%d. Bradford quotations show a better tone as regards Merinos, and on account of London’s firmness, other quotations are unchanged. DAIRY PRODUCE. Received June 11. 5.5 p.m. London, June 10. Butter is firmer, but it is believed there has been some speculative buying. Quotations are: New Zealand choicest salted, 1765; unsalted, 178 s; Australian salted, 1725; unsalted, 17 id. Danish is at 180 s. Cheese is firm, New Zealand being quoted at 94s to 955, and Australian at bls to 925. LONDON METAL MARKET. Received June 11, 9.45 p.m. London, June 10. Copper.—Spot, £56 18s 9d; three months, £57 16s 3d. Lead.—Spot, £29 13s 9d; three months, £29 18s fid. Spelter.—Spot, £33 7s 6d; three months, £33 Ils 3d. Tin— Spot, £2G4 7s 6d; three months, 7s 6d. _ Silver. —Standard, 30 5-16 d per oz.; une, 32 11-16 d. CHICAGO WHEAT PRICES. Received June 11, 5.5 p.m. New York, June 10. Chicago wheat quotations are-.-July, cents; September, 136 cents; December, 138 A.

AUSTRALIAN MARKETS. Ry Telegraph—Press Assn.—Copyright. Sydney, Jun® 10. Wheat.—Farmers* lots, bagged, 6s 3d ex truck® Sydney; in bulk, 6s 2d. Oats.—Tasmanian, Algerian, 4s fid and ss; white, 5s 2d and 5s 6d. Maize.—Local, yellow 6s 6d, white 6s 3d; South African 6s 6d. Potatoes.—Tasmanian, £l3 10a to £lB. New Zealand £l3 10s. Onions.—Victorian, £24; New Zealand. £2O. Adelaide, June 10. Wheat.—Growers’ lots, Gs Id. Oats.—3s 2d. Melbourne, June 10. The hides market is good, all grades being very firm excepting kips, which advanced l-8d to %d. MELBOURNE MARKETS. Received June 11, 5-5 p.m. Melbourne, June 11. Wheat is quiet at 6s 4%d; farmers’ lots, 6s 2%d. Oats.—Milling, 3s 9d and 3s lOd; feed, .3s 2d and 3s 3d. Barley.—English, 4s; Cape, 3s 9d to 4s. Potatoes.— £lO to £ll 10 s * Onions.—£l9 to £2O. LOCAL MARKETS. PIGS, POULTRY AND EGGS. Messrs. Webster Bros, report that at auction yesterday ducks brought 2s 6d, pullets 3s Id and cockerels 2-s 8d to 3s Id. Eggs Bold at fr>m 3s 4d to 3s sd. Messrs. L. A. Nolan and Co. report that hens realised from 2s lOd to 5s 6d, pullets 3s 6d to 5s 9d, roosters 3s 4d to 6s 6d,‘ducks 3s 4d to 4s 6d, and bantams Is 5d to Is 7d. Messrs. Newton King, Ltd., report that at the Haymarket slips brought 13s 6d to 14s 6d; sow and litter £3 17s 6d. The attendance , was poor owing to the weather and the show.