COMMERCIAL.

Star (Christchurch), Issue 16642, 26 January 1922, Page 8

COMMERCIAL.

PROPERTY SALE REPORT. Messrs Jones, M’Crostie Company, Ltd., report having disposed of the balance of the sections which were offered by public auction on account of Mr G. Lewis, situate corner of Bryndwr and Glandovey Roads, Fendalton, at tho price of £2EO each, leaving only tho homestead, with about an acre of land, now for private sale. CEYLON TEA SALES. By Telegraph—Press Association—Copyright. Australian and N.Z. Cable Association. (Received January 26, 1.5 p.m.) COLOMBO, January 25. At the tea sales this week the selection and qua’ity showed a general decline compared with the previous sale. 'The bidding was slow, prices being in buyers favour.

AUSTRALIA’S MEAT TRADE. FREIGHTS TOO HIGH. By Telegraph.—Press Association—Copyright Australian and N.Z. Cable Association. (Received January 26, 1.15 a.m.) LONDON, January S 4. Mr J. A. M. Elder, in a paper read before the Coid Storage Ice Association on Australia’s frozen meat export industry, described Australian meats as being in an unsatisfactory position during the war and estimated that South America's advantage over Australia in the matter of Imperial prices was over £o per bullock and nearly Ss per sheep. South American beef was better than it was before tho war owing to close attention being given to improvement in herds. On the contrary, Australian bee? all round was worse than it was before. Breeding had not improved, and the Australian stockowners were responsible for this. They were too parsimonious regarding the price paid for buiis. Dreßsing was also a great deal worse, which was a direct result of the helplessness of exporters to control their own works properly owing to the disturbed and difficult labour conditions.- Fortunately, more recent arrivals liad shown a distinct improvement in get-up. Shipowners were not treating Australian producers and exporters equitably in regard to freights, which Were now 144 per cent higher than the pre-war rates for beef. 160 per cent for mutton, and 154 per cent for lamb. If rates were fixed 100 per cent above the pre-war figures Australians would hot complain. Tho distribution arrangements in Britain of South American companies were excellent and much more effective than those of A ustralian agents. Mr Eldor concluded by suggesting that the remedy was Imperial preference in the shape of financial assistance. The bonus should take tho form of a freight sudsldy by the Australian and Imperial Governments to the extent of reducing freights to the pre-war level. The bonus of a farthing per lb from each, which the Australian Government proposed, would scarcely accomplish this, but even that amount would materially help. Should freights be reduced to 100 per cent over the pre-war rates and a bonus of a halfpenny bo forthcoming, the effect would be the salvation of tfiis great Australian industry for the good of the Commonwealth and the Empire,,

cotton growing. AUSTRALIAN POSSIBILITIES. (Received January 26, 10.5 a.m.) LONDON, January 25. Mr Currie, director of the Empire Cotton Growing Corporation, stated that members of the corporation are much impressed by the investigations recently conducted by Messrs Vaughan and Armstrong in regard to the possibilities of growing cotton in Australia. Mr Currie says that high quality should be sought for, and the results already achieved show that this is attainable in this, respect. A benevolent monopoly was advisable similar . to various .schemes existing in other parts of the Empire. It was a matter of great importance and £very source of seed should be controlled and all poor varieties eliminated, especially the kidney and perennial types. OPPOSITION TO BUTTER POOL. January 26, 11.10 a.m.) MELBOURNE. January 2S. The conference of representatives of cooperative butter factories rejected a proposal .to form a Victorian butter pool.

STOCK EXCHANGES. CHRISTCHURCH. Buyers. Sellers.

£ 8. d. £ 8. d. N.Z. GOVT. STOCK4i p.c. Inscribed, 1938 86 : 12 6 87 10 0 ok p.c. Inscribed, IS33 93 7 6 ofc p.c. Bonds, 19SJ3 DEBENTURES— 93 10 0 N.Z. Refrigerating, 6 per cent 94 0 0 BANKS— New Zealand 9 8 Royal Bank . 1 7 3 1 6 Union of Australia (cum. div.) 12 G LOAN AND AGENCY— Goldsbrougli Mort. (Melb.) 1 13 6 N.Z. Loan and Morcantile (ord.) 79 10 0 SHIPPING— Huddart Parker . FROZEN MEAT— - 3 6 2 4 0 N.Z. Refrigerating paid) (£1 1 7 3 1 8 0 COAL — Westport WOOLLENS— Keiapai (10s paid) BREWERIES— 1 7 6 0 12 6 Crown (cum. div.) MISCELLANEOUS— 1 11 0 Glerunore Brick and Tile Mason Strut hers (£1 0 16 0 paid) 1 4 0 Whitcombe and Tombs 2 16 0 MINING— Mt. Lyell 0 13 3 Sale Reported:— -Canterbury Fros. Meat (6 per cent cum. pref. 15s.