COMMERCIAL.

Taranaki Herald, Volume LXVII, Issue 16496, 25 July 1919, Page 6

COMMERCIAL.

STERLING EXCHANGE RATE

By Telegraph—Press Assn.—Copyright. LONDON, July 22. The sterling exchange rate in New York fell to 4 dollars 2C cents, rallied to 4 dollars 34 cents, and closed at 4 dollars 33 cents. Experts believe a further decrease is certain unless credits are extended in Europe. A group of international bankers arc planning a- meeting to discuss means for preventing further decreases. —Aus.N.Z. Cable Assn. THE TALLOW SALES. LONDON, July 23. At the tallow sales 2111 casks wore offered and 1420 sold. Fine mutton, £5 12s 6d ; medium, £5 6s ; fine beef, £5 15s 6d; medium, £5 10s; inferior declined a shilling. Rabbilskin sales opened, there being a strong demand and a big advance iu prices. ' W OOL SALES. k LONDON, July 23. At the wool sales there was strong Continental competition. Prices for Merinos wore maintained. No Crossbreds were offered. AUSTRALIAN MARKETS. (Received July 25, 8.5 a.m.) SYDNEY.. July 25. Oats.—Algerian feeding os 6(1 to 5s 7cl; milling 5s 9d; Tasmanian 6s to 6s 2d. Barley.—t*apo 5s to 5s 3d. Maize,—Ts 3d to 7s 6d. Potatoes. —Tasmanian £l7 to £lB. Onions.—£29. ADELAIDE, July 25. Oats.—4s 6d to 4s Bd. DAIRY PRODUCE. Tho local market prices this week are as follows: Buying. Selling. Eggs 2 0 2 3 Dairy Butter (pats) 18 14 Registered Dairy Butter 1 4 1 5 LOAN AND MERCANTILE, AUCKLAND, July 17. The New Zealand Loan and Mercantile Agency Company, Ltd., repent : At Westfield last Thursday cows and heifers sold from £l2 to £l9 12s 6d, backward sorts, best £ll to £l4 ss, oilier £3 10s to £lO 15s. Store cattle Mere again penned in largo numbers, the demand being good, with prices improving. Empty cows and heifers. £6 5s to £9 ss; cows, with calves, £6 15s to £los os; bulls, £6 to £lO 15s, steer calves, best £2 7s to £3 ss, others £1 12s to £2 ss; heifer calves, best £2 to £2 18s, others £1 8s to £1 19s; inferior ca lves, 15s upwards; yearling t > 18-moufl) steers, £4 5s to £6 12s. heifers £3 los to £5 10s. At Westfield on Wednesday choice o\ sold at. £2 18s per 1001 b, and in a few cases for extra prime this price was exceeded; other ox, £2 13s to £2 17s per iOOlb ; rough and inferior ox, £2 8s to :D2 12s per 1001 b; cow and heifer beef, inline £2 12s to £2 15s, rough and inferior, £2 7s to £2 11s. Calves came forward in average numbers, aud sold under keen competition at laic high values. Runners, £5 to £8: heavy vealors, £4 os to £4 18s, medium £3 10s to £4 2s 6d, light £2 5s to £3 8s; lighter fat calves, 18s to £2 4s; fresh dropped, 5s to 15s. Pigs were penned in slightly larger numbers. 'The demand exceeds the .supply

and high prices rule. Medium to heavy bacouers, £5 10s to £8 17s 6d; heavy bauoners, £4 los to £5 9s, medium £3 12s to £4 13s, light £3 to £3 10s; weaners, £1 14s; sows (backwards), in pig, £6 to £7 10s. Sheep were penned in average numbers, and sold under keen competition at last week’s rates- No extra heavy-weight ewes or wethers were yarded. Heavy prime wethers, £2 os to £2 11s 6d. medium £l*l9s to £2 4s 9d, light £1 14s 9d to £1 18s 9d, unfinished £1 10s Od to £1 14s Gd; heavy ewes, £1 16s to £2, one extra heavy cwo realised £3 Is; medium ewes, £1 11s to £1 los 3d, light' £1 16s to £1 10s 9d, inferior 10s to £1 5s 9d; hoggets were penned in av erage numbers, and sold under keen competition at a slight advance on last week’s quotation. Best, £1 9s to £1 los; one extra good hogget realised £2 7s 6d; medium hoggets, £1 4s 9d to £1 8s 9d, light £1 Is to £1 4s 6d, inferior and unfinished 12s to 19s.

LONDON WOOL SALES. W The Bhnk of New Zealand reports under date London, May 29, 1-919 Wool.—'l’iio second series of praolic sales.of Government wools, which opened on the 6th instant, closed on the 23rd idem, the following quantities having ' been cataloguedNew Soflth Wales 52,586 halos, Queensland 13,041, Victorian 67001 South Australian 10,727, West Australian 3501, New Zealand 22,207, South African 5463; total 114,225. There was the usual large attendance of buyers, and competition throughout was, fully on a par with the previous series. The selection offered/ however, especially at the opening was disappointing, but some improvement was noticeable during the last week of the sales. There was a fair show of- New Zealand greasy Crossbreds, and those together with slipes of good average condition sold remarkably well. The demand especially for the finer quality wools was excellent, and as compared with the closing rates»of the April auctions, prices on average were 10 per cent, dearer. On the other hand, faulty inferior descriptions were fully 71 per cent, below the parity of the previous sales. Apparently the quantities sold at the previous auctions only whetted the appetite of buyers, and from the very jouuiioncemeut there was every indication that the scries would prove highly iatisfaotory. The home trade is in such a strong position and stocks of ,vool are so low, that it was hardly surprising to see prices continue on the upward grade. Notwithstanding that the Government is still distributing raw materials at its fixed issued prices, which arc sensibly below the open market, the fact remains that the trade is prepared to operate freely, and pay prices which certainly are wonderful. Wo hear buyers have booked orders light up to the end of the year, and their margins are so liberal that the question of price causes them little or . no concern. I The Wool Council recently made a very significant statement to the effect that already the arrivals of wool in this country arc equal to those for the first i four mouths of 1915, which was a relisoiaU -Further jt jvas ejected that

somo 3,000,000 bales would probably arrive in this country this year, in which event all previous records will be eclipsed. . It remains to be seen what ctrcoL these huge quantities of wool may nave ou tho present values, and while flimetuations are almost bound to occur, trade hero, coupled with the demand from Continental countries winch is bound to ensue when peace is signed, should produce such a volume of business ns to possibly maintain a very high level of values until the end oh the year. The following arc the current prices at the close lor wools of average condition;—New Zealand Merinos—6os to 645. 40d to -15 d per lb.; New Zealand Hidf-ir.ods— s6gj did to dSdper lb.j Now

Zealand Crossbreds, fine—sos, 38d to 42d per lb.; New Zealand Crossbreds, medium—l4s to 465, 28d to 32d per lb. ; New Zealand Crossbreds, coarse—--36s to 40s, 24d to 26d per lb. ADDINGTON MARKET. CHRISTCHURCH, July 23. At Addington Market to-day there were moderate entries of fat sheep and fat cattle, and the offerings in other departments were small. Fat catflo were somewhat irregular, but on tho whole prices were a little firmer. This was also the case with fat shee.i, but values increased to a proportionately greater extent. Tho business done in store sheep and store cattle was unimportant, Iftt piss were in abort

supply, and stores met with little demand. The attendance at the sale was much below average. Store sheep: Two-tooth ewes, 30s 3d to 33s lOci. two and four-tooth ewes 23s 9d; four, sis, and eight-tooth ewes, 17s 9d to 30s 6(1, ewe hoggets 21s. Fat sheep: Extra prime wethers to 635; prime wethers 48s to 555, medium wethers 38s to 475, lighter wethers jibs fid to 37s fid, extra prime ewes ops, prime 43s to 50s 3ci. medium ewes, 3os to 41s; lighter- 26s to 345; prime Imggets 38s to 435, lighter hoggets 28s to 29s lid. Fat cattle; Extra prime steers to E 29, prime steers £l9 to £23 7s fid, ordinary steers £ll 7s fid to £lB 12s fid, prime heifers £l2 17s fid to £l7, ordinary heifers £9 to £l2 ss, extra prime cows £2O 2s 6d, prime cows £ll 12s fid to £l4 17s 6d, ordinary cows £9 os to* £ll. Store cattle; Two and a-half year steers £9 2s; dry cows £3 to £l2 17s, bulls £lO to £l9. Vealers; Runners, £5 11s to £7 10s, good vealers £3 10s to £3, fair £2 17s to £3 ss. Dairy oows; Heifers £9 to £l2 10s, older cows £7 to £l7 12s fid. Pigs; Baconers £5 to £8 7s (equal to 9d to 9RI pel- lb); porkers £3 to £4 13s (equal to lid to Hid pei‘ lb.); choppers £5 to £9, large stores 51s fid; medium 40s to 48s, smaller 26s to 345., weaners 14s to 225. AUSTRALIAN MARKETS. By Telegraph-Press Assn.—Copyright. (Received July 25, 11.20 a.m.) MELBOURNE, July 25. _ Barley.—English malting. 5s fid to 5s 9d; Cape, 3s lid to 4s Id. Oats. —Milling Algerian, 4s lid to os; feed, 4s 9d to 4s 10d. Potatoes, £l2 to £l3. Onions. £lB, AUCKLAND SHARE MARKET. QUOTATIONS. SPECIAL IO HERALD. AUCKLAND, July 25. Messrs. Hendry and Hay (E. P. AVebeter, local agent) report the following Stock Exchange quotations and sales: — AVnihi, 45s and 445; Junction, 13s 2d and 13s; Talisman, 7s 9d and 7b 8d ; National Bank, £6 8s (buyer); Bank of New Zealand, £l4 7s fid (buyer); National Insurance, 79s fid (buyer); South British, £8 3s and £8 Is; Taupiri .Coal, 18s 9d and 18s; Northern Steam, 16s (buyer); Auckland Trams, 23s 3d and 22s fid; Auckland Trams, preference, 19s fid and 18s fid; Wilson’s Cement, 16s fid and 16s 3d. ME. NEAVTON KING. Mr. Newton King reports as follows; —At Urenui on 22nd. inst. I had a good yarding of all classes of cattle, inquiry being keen throughout, a good clearance resulting. Yearling heifers £2 10s to £3lßs, 20-month empty heifers £5 10s to £6 7s fid, 20-month to 2-year-old steers £6 3s to £6 11s, small ditto £4 2s, 3-year-old ditto £7 10s to £8 os, fat cows £lO 12s 6 to £ll 12s fid, forward conditioned ditto £9 os to £lO, *tore ditto £6 12s 6 to £7 os, cows and calves £9 17s fid, bulls £6 to £l2 15s, mixed sex hoggets 21s lOd, mixed aged ewes (in lamb) 23s 7d to 25s fid, 4tooth wethers 31s, dairy cows £ll to £lB 10s. 2-year-old heifers iu calf £lO 10s to £l2 15s, smaller and backward sorts £7 os to £S 15s. At Stony River on the 22nd instant, despite the rough state of the weather, there was a lair yarding, a .good sale of aIF classes resulting. Mixed yearlings £2 7s fid to £3 17s fid, yearling heifers 35s to £4 3s, yearling steers 35s to £3, 20-month empty heifers £5 to £6 ss, fat heifers £ll os. forward conditioned cows £9 to £9 10s, store ditto £6 to £B, mixed aged wethers 295, 2[)-month to 2-year-old heifers in calf £8 to £lO, dairy cows £lO 10s to £l3 10s. At Carrington Road on the 22nd inst. 1 conducted a dispersal sale on account of Mr. A. J. Guscott. Stock realised; cows £ll to £l7, 20-month empty dieifers £5 2s fid, yearling steers £3 9s fid, yearling heifers, £3 2s fid, Gtcoth ewes (in lamb) 31s 2d, mixed sex hoggets 22s Bd, farm horses £6 to £2O. Stock on account of other vendors realised; cows £lO to £ls, 20-month heifers in calf (small) £6 15s, f.m. ewes (in lamb) 20s, mixed sex hoggets 20s lOd, farm horses £lO to £2l. At Carrington Road on the 23rd instant I conducted a clearing sale on account of Mrs. Bfydon. Buyers attended in good numbers, a most satisfactory sale of everything resulting. Best cows made from £ls to £23, late calvers £lO to £l3 10s, mixed yearlings £3, farm horses £lO to £lB.