COMMERCIAL.

Press, Volume LV, Issue 16423, 17 January 1919, Page 9

COMMERCIAL.

AUSTRALIAN MARKETS. (By Cable.—Press Association. —Copyright.) (Australian and N.i. Cable (Received January 17th, 12.10 a.m.) SYDNEY. January IS. Oats—Tasmanian 5s to 5s 6d. Algerian, feeding Is 9d to 5s 2d. Barley—Feeding ss. Maize— "3 6d to Bs. Potatoes —£18 10s 10 £?i. Onions—£ll to £12. SUPPLY OF MILLING WHEAT. EXPLANATION BY THE MINISTER. (special to "the press.") WELLINGTON, January If. There hove been some complainU of late about the alleged shortage of milling wheat in the North Island. Tlie Minister of Agriculture said to-dav that there was no shortage of v.-heat in "the. country, though there v.*as no; over much of it in the North Island. The Government, knowing that wheat v.ould have to come from Australia, and knowing that it was cheaper to land wheat in the North IsUnd than in the South Island, refrained from using shipping for the purpose of bringing South Island wheat to the North. Tho plan of the Government was to supply the North Island as much as possible from Australia. The Kauri was at present on the way to Australia, and she would bring back a cargo of wheat to the North Island. Mr Mac Donald said that, although the acreage under crop this year was less than last year, he was * iuformod that the yield was so much better that the return would be more in tha total than it was last year. TALLOW, HEMP, ANI3 SKINS FOR UNITED STATES. (PKESS ASSOCIATION TELEGRAM.) WELLINGTON, January 16. Tho "Gazette" notifies that, in accordance with advice received, the Government of the Uuited States of Ameritfa now propose to grant licenses for the importation of New Zealand hemp, without limit as to quantity. The "Gazette" ako notifies 1 that, in accordance with advice now received, any prohibitions against tho importation to the United States of America of tallow, hides, skins, undressed furskins, and rabbit9kins, have been withdrawn. Permits to export these articles to the United States of America, will be freely granted in the meantime, upon application addressed to the Controller of Customs, Wellington, except, in the case of tallow, for which no permit i 3 required. SOUTHLAND WOOL VALUATION. The following table shows the prices obtained for tho better classes of wool at the wool valuation at Invcrcargill this week: d. d. Fine crossbred ewe and- wether 37 to 17$ Mixed crossbred ewe .. .. 13J to l&A Hogget, weak in staple .. 16 Sound hogget .. .• •• Fine erosbred hogget .. .. 17Jtol7J Matted .. •• 13J to 14J Ist pieces, up to .. .. 14i Ist bellies .. .. .. llJtol2 2nd bellies .. .. •• 10J to Hi Locks .. .. .■ to 62 GISBORNE OIL COMPANY. (riu:ss ASSOCIATION telegram.) GISBORNE, January 16. The properties of the Gisborne Oil Company have been purchased by . Messrs John Clark and ,W. D. Lysnar, of Gisborne, who intend to carry on prospecting for oil. A RIVAL TO STEEL. MERITS OF ALUMINIUM.

Dr. V. Rosenhain, in a London address on "Aluminium and its Alloys, said that aluminium alloy was . not a German monopoly. A. Zeppelin fraroowor'< bad a tensile strength of 25 tons to the square inch, hut this was not so good as tbe combination of lightness with high strength thjit could be produced in Great Britain. Comparing steel having a tensile strength of 28. tons to the square inch with pure aluminium of 7 tons strength to the square irch, he said tliat the iength of a vertical bar of steel that' could just carry its own weight would be 19,000 ft. and of aluminium 14,000 ft. Bin with alloy the length of the aluminium bar would be extended to 30,000 ft. . In large structures like bridges the freight of the structure was so. great that - the weight of a train was almost neghgiDlo, but the point came where the span could only just caiiy itself, and, in comparison •with steel, the light alloys of aluminium could increase the limiting span threefold. There was great expenditure of energy in starting and stopping electric trains, ■ ana if the heavy steel parts of locomotives could be replaced by light alloys there would be quicker starting and stopping, and an important saving. There was a prejudice against aluminium, and the permanence and stability ot the alloys had been questioned, but research had- cleared awaj Tho main consideration that interfered with the use of aluminium was that of cost. Aluminium was extraordinarily plentiful in the earth's crust, --and we needed a method of extracting it cheaply. Cheap electncity was essential, and no looked for this to the full utilisation of our water supply. PRICE OF ENVELOPES. Envelopes which previous to .the war cost Id per packet of 25, now cost. 7d, says a London paper- of November 23rd. GERALDINE STOCK SALE. For this v.-eek's stock sale the entry was only a medium one, and the attendance small. The sale dragged, and several lines wcro passed in- Fewer farmers have put in rape this yearf and with feed drying off, I th© number ablo to ffltten stock is than usual. Sales were as follows:—Fat ewes, 25s to 27s 9d; fat wethers, 23s to 30s; woollv wethers, 40b; two-tooth ewee, 26s tolib 4d; full-mouth ewee, 19s 7d to 20s; owes and lambs. 20s; mixed sex lambs, ISs to 18s 6d; heifers, £5 103 to _£9 10s, cowe, £6 15s to £11 10s; pigs, 21s 6d to 425. CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. Bnyere. Sellers. £ t. d. £ ■■ d. DEBENTURES— Cbristchurch City (1332 51 per cent.) .. - 100 10 0 BANKS— Commercial of Australia U per cent., cum. pief.) 6 9 0 — National-of N.Z. .. 6 4 0 610 0 New Zealand (£3 te Sd paid) .. .. 13 5 0 INSURANCE— New Zealam} •• •• 11 2 6 — Standard .. .• — 2 7 0 FROZEN MEAT— Canterbury .. 9 10 0 — ■ N.Z. Refrigerating i.. 2 6 6 — WOOLLENS— Kniapoi .. -• — -7 10 0 MISCELLANEOUS— Whitcomb© and Tombs 6 3 G — MINING— Waihi — YESTERDAY'S BUSINESS ON OTHER EXCHANGES. . (PRESS ASSOCIATION TKiEGRAMS.) AUCKLAND. Sales:—Northern Coal. 7s 3d; Northern Steam (paid). ISs 9d: "Wilson's Cememi, 14s 9d; Rising Sun, 2s 2d and 2e Id; National Insurance (reported), 67s Ga.