COMMERCIAL.

Timaru Herald, Volume XCIV, Issue 14658, 27 January 1912, Page 2

COMMERCIAL.

CKKISTCHTXROg (xRAIN MAKES". Per Press Association. CHRISTCBURCH, Jan. 12. There is nothing fresh to report in the local wheat market. There is a good enquiry for new juts, aim the fewlots offering find ready rale at current prices. There are but faw white oats yet _ou the market, the cons,st:ng of Algerians and Buns. For prime lines of the former up to 2s has been paid, but buyers are generally offering from Is 10d to Is Hd. and down to Is 9d for lighter samples. A few lines of barley have been offered, but growers ore asking pr.ccs beyond what buyers consider their value. It is reported that a line of prime malting has been sold at Is f.d to go south, but -Is to 4s 3d are now the best prices offered at country stations. N.Z. PORTLAND CEMENT. A GOOD YEARS WORK. DUXEDIN, Jan. 2G. The annual meeting of the New Zealand Portland Cement Companv was held to-day, Mr P. Barr (chr.irmaii of d.rectors) presiding. The dire-tors reported that operations for the thirteen months ended November 30th showed that the net profits were £lO SCI Gs 9d, while -he balance forward from last year ias £772 lis '-id. After deducting an : nterim dividend of 4 per cent, on the old shares, there was a balance of £8433 ISs. lno directors recommended u further dividend of 6 per cent., est mated to absorb £5660 Ss 3d: for depreciation on plant rj-.d ve.-ee!s Cl9do, cud to cany forward £373 9s 9d. The report fhnreholders ou the sat : sfart';rv resnlts for -.he year, notwithstanding" chat the works were _ still iiicompie'e. All the machinery and plant bad been maintained in a thorough state of cifk-dKV, ;ind tho director.; did not coilv<l«.t there was_ any necessity fcr heavy wr:iing oit for depreciation. Tho third rotary k.ln should l>e in running order by the end of .he mouth, v.jup. tho output was expcc*ed to be nii'.y doubled, at a reduced working ocst. The demar.d for the company's product exceeded the present <,V.-_put. In the adopt.on of the report the chairman niviui-inod that the profits for. the yea- had benefited o< n-s:de:-al)ly from tho fact ton: iw price contracts entered into meic ti.-ne c ::•".■ had been running cut, .-nd more payable bus ness substituted The report was adopted, and the retiring directors and .uditors were re-elected. SHARE MARKET. DUNEDIN, Jan. 20. Stock exchange -.iles: —Talisman Consolidated. £•> 10s J.l. Sales reported—Xaiapoi Woollen, ordinary £5 10s; National Hank, £5 "15*. PRIVATE CABLE ADVICES. The New Zealand Loan and Mercantile Agency Company have rei-e.vod the following cablegram from their London Office under date 24th i.-ist.:—-'Wheat. —An Australian cargo of wheat has been sold at 37s 3d e.i.f. Tho market is quiet btit steady, owing to bad weather. The Argentine market outlook is encouraging. Mew Zealand ■ v.-heat quotations are as follows: — ■ Lo'ngherried 35s Gd oer Quarter c.i.f.. shortberried 355. Tallow.—The. following are the pres3ut. ;pot values: — Fine mutton 34s 3d per cwt.. good beef 33s 3d. mis"d 31s 3d. The market is quiet. London Wool Sales. • —As compared with 'ast sales closing • rat .is prices are:—Abmit par to 5 per ■ "cut. higher for ,-roasy crossbred; about par to 5 nor tent, lower for • niedium merino and" inferior: about the same lor crossbred scoured and slipe and greasy merino sneer; 5 per cent, to 7} per cent, higher for lamb;, scoured merino super, and greasv crossbred for Aincrea. Sales " progress, firmly. .Sheeps'iins.—We anticipate that the market .vill be firm." The following is a copv of a cable received by Dalgcty and Co., Timaru. from their London office, dated 2o:h ; inst.: —"Frozen mutton and lamb, tirm, but prices unchanged, fair demand, small arrivals clear readilv : Hcef, stock held are nil. allow "n general unchajiged, fair demand." THE LOCAL MARKETS. A limited amount of business is at. present passing on the local grain and produce markets, though one or two lines of considerable size changed hands during the week—old wheat at. up to 3s Sd delivered Timaru and new wheat (sold in the paddock for delivery later on) at up to 3s 4W. Speculators have been paying the latter price on the chance* of a rising market. It is not obtainable in a general way. If the nresent fine weather continues harvest will be well in hand in a fortnight's time, and j- -he crops are gathered in good conditio-' there should he an abundant vield o: good quality wheat. New oats are ouc.ted at 2s f o L> Sacks extra, while good old f«ed o-,ts are fetching 2s 6d delivered Timaru. 1 otatoes promise to be plentiful tVs season. They are. at present worth about £8 per ton delivered Timaru. CLEARING SALES. Messrs Guinness and LeCren report having held, in conjunction with the -New Zealand Loan and Mercantile Agency Co., Oaniaru, a successful clearing sale on Thursday on account ot .Mr J'. Condon, Morven. There "\ aS il'-1 5 "? 0 * 1 attendance of buyers, and the bidding was spirited on nearly all the lots brought under.the hammer. 31 r London has always been noted for lus splendid horses, and consequentlv good prices were realised. Mr Milh'attended to the catering in his u«u:i'l good style. Following were some of the prices realised :—Horses, mares, 6yrs -iSgns. syrs 41Jgns. 4vrs ?S?-rs,' I'7 S ;i4 S ns - 291gns." Syrs ISgns. "3-vr . hlly 42igi!s. 3-yr colt 23gns. yearling colts 11 and Bgns, yearling filly 10s. Implements and sundries realTseJ satisfactory prices. Tho same tirm report having held a successful clearing sale at Orari Bridge on Thursday." on account cf Mr , William Hewson. There was a good attendance of buyers from all parts or the district, and evei-v lot was quitted at satisfactory prices." Following are a few of the principal sales: 177 f.ni ewes and lambs at 9s 30d, 21 s. and f.m. 3-bred ewes at 6s lid. 41 4 C and S-tooth J-bred ewes at 13s, 31 a .m i-hred ewes at 10s Sd, 47 ' O-toofi , wethers at 7d, G7 fat and forward lambs at 12s 7d, draught mares svrs £37. 4yrs £3l 10s and £3l. aged £l6 aged gelding £ls. mare in foal £l3, unbroken oyr fillv £lO 7s 6d, yearling filly £B. 2yr draught gelding £B, harness mare with foal £l3. cows in profit £ll. £9. £7 15s, £5 5s calves £3 £2 8s fid. £2, 15s, MeCormick binder j £lO, roller £B. dravs £2O 10s and £ls 10s, drill £G os, grubber £5 ss, d.f. plough £5, etc. Sundries and furni-1 ture sold at. full irio T V«+. rites.