COMMERCIAL.

Press, Volume LV, Issue 16433, 29 January 1919, Page 9

COMMERCIAL.

(By Cable.—Press Association.—Copyright.) (Australian and N.SS. Cable Association.) METALS. January 2Sth, 9.35 p.m.^ LONDON. Januarv 27. Copper-Spot £39 10s. forwaid £62" 1C«. ■y " Spot £248, forward £217 os. Other metals are unchanged. MISCELLANEOUS. Cotton American upland, February shipment, is quoted at Liverpool at 15.i7d per pound. Rubber—Para 30d, Plantation 24Jd, Smoked 23Ja. Jut«-*-The market is quiet, but piicee are firm. January-March shipment i 3 quoted at £35 15?. Hemp—lhe- market is dull, and quotations arc unchanged.' THE FINANCIAL OUILOOK. ifrom a special connEaroxutNT.) WELLINGTON, January 28. The payment last week of iaige stuns on behalf of the Imperial Government in respect to wool purchases and tbe fact that further large amounts will bo paid during the next two months, make the prospect for the flotation of the war loan or £10,000.000 in Aptil I look very promising indeed. The quick »rI rival of so many steamers and the certainty ! that, most of them will go back with quantiI ties of produce makes the outlook particular|ly good. Money should be in plentiful supply for some time to come, and the banking returns at the end of the current, quarter should reveal a very satisfactory position. The country's finances, according to the figures recently made public by the ActingMinister of Finance, show a very healthy state of affairs, and as the heavy revenue payments, such, for instance, as the income tax, are payable this quarter, the probability is that there will be again a very large surplus. One newspaper recently estimated this surplus at about two millions, but. it is more than likely that it will be double that amount. j GRAIN AND PRODUCE MARKETS. .{•BY OUR COMMERCIAL EDITOR.) Friday Eveninc. The rain that fell during the night and has continued up to the time of writing, will put a check upon harvesting operations, but is not likely to 'Jo any harm provided the weather soon clears. A good portion of the osts crop is now in stack, or in stock, and in North Canterbury some wheat, has been cut, and a few 6tacks built. There is a larger area sown in linseed in North Canterbury- than usual, and the crops are looking well. Owing to the shortage of coal very little threshing has been done, and tlieiefore thore is little grain to olYer. Some business ha 3 been done in barley, the sample being very much above that of the last few rears in plumpness and general quality. Sales have been made of prime- malting at 63 9d and 7s at country stntion3. Some oatsheaf chaff is being cut, but tlw demand is not very active for early delivery. The rain will do the inn in ciop potatoes a lot of good, and e» the temperature is low there is 110 fear of blight being developed. The crop should vield much nbov-» the average of the last few years, but the area, is not equal to that of last year. The market for the main crop has not really opened yet. The onion crop will also benefit by the rain, as well as rape- and turnips, the two latter crops being very small compared with other years. The following are the prices paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated: Old milling wheat according to Government price, South Island. 0s OJd, f.0.b.: North Island, 4d additional. Oats (nominal) —Best Algerians, feed 4s 6d to 4s &J, seed 4s Od to ss: best- Gartons. 5s to 5s Cd, feed 4s Gd to 4s 9d; Duns- and Danish ss. Barley—Prime malting fc's 9d io 7i, Flour—£l3 10s per ton; lUOlb bags. £15 ss: 50lb bags, £10 10s: 25ib bags. £16 153. Bran—Shipping £3 10s, local £0 los per ton. Pollard—£7 10s per ton. Oatmeal—2slb bags £30 per ton) 71b bags £84 10s per ton. Old Oatsheaf Chaff.—(Nominal) heavy, bright, £6 to £7, medium £5 to £3 10s; inferior, £4 to £4 10s New Oatsheaf Chaff—£6 for February delivery; £G 10s for March delivery. Italian Ryegrasses tripped seed 4s. Autumn Onions—£S. SCARCITY OF IRON. SUPPLIES FROM OVERSEA. The shortage of supplies of iron. Jaas seriously affected all the allied iron trades during the war years, and for a long time •past foundries throughout New Zealand have practically been running cn jjcrap-iron. The exorbitant price charged for now material, even when obtainable, has (p-eutly increased the demand for the scraps formerly regarded as of little worth, until even this source of supply is now practically exhausted. The position as regards renewal of oversea supplies, now that the war is over, is r,ot yet quite clear with regard to local requirements. "Wo are still rather in the dark as to the actual position,"' said the manager of ail AueKland foundry on Saturday, "a number of largf> houses at Home are now looking for oversea, markets, but there appears to be a good deal of- uncertainty regarding shipping and deliveries. Prices and freights have already been rcduced, but there is at present 110 assurance of delivery. The Imperial Government still holds very large contracts with British tiims, and, presumably, t'neso v.ill havo to be filled before oversea, orders can be undertaken."

It was stated that there had already been a drop in the pi'ce of supplies held in Auckland: steel plates, for instance, had dropped from £90 to £80 per ton. Local prices are «till high, but it is considered probable that there will be an appreciable reduction within the next six month* (says the "Herald.") Th* embargo on Australian iron export was lifted some months ago, and oil* of ihe principal Australian foundries. having lately installed a. rolling plant for (he manufacture of steel plates, it is anticipated that this will ensure a source of supply in the near future which will relieve New Zealand's shortage. PLEASANT POINT STOCK SALE.. The opening fat lamb sale of the season was held. at the Pleasant Point ealeyards on Monday, when a large yarding met keen competition and high prices ruled. The following sales were made: — J;'at Lambs—42 at 2Ss 'Jd, 23 at 31s, 20 at 25s Id, 23 at 3Us Od, 16 at 21s 9d, 77 at 28s, 21 at 2as 10d, 2 at 20s, 52 at 31s (sd, 7 at 19s 2d, 5 V at 2i>3 9d, 146 at 32s Id, til at ;!Ls lCd, 103 at 22s 10d, 100 at 29s 7d, 52 at 26s lid, 50 at 330 lOd, 50 at 27s id, 21 at 28s 4d, 29 at 23s lid, 82 at 27s 6d, 30 at 30s Id, 42 at 2Ss 3d, 51 at 31s sd, 51 at 27s 6d, 212 at. 26s Id. Fat Ewes—2s at 3*)s 5 at 22e (id, 2 at 15a. 27s at 2Ss, S9 at 26s It:!, IB at 27s 3d, 13 at 31« Gd, 6 «t 30a, 3 at 31s, 1 at 23s 'Jd, 1 at 29b 6d, 7 at 31a. S at 2Ss, 8 at 31s 3d, 17s at 253 6d, 7 at 7 at 255. Eat Wethers —46 at 36s lOd, T" at 355, 3i at 29s 3d, 00 at 375, 1 at »s, 6j) at 26s 4d, 58 at 36a Gd, CO at 375, 1 at 24b 3d, 3 at 325, 1 at 225, 1 at 26s Cd, 70 at 35s 6d, U at 30s, 13 at 3Ds, 20 at 34s lOd, 5 at 293. Other Sheep—3l merir.o c«s at 10«, ICO ewes and lambs st 22s id. 236 two-tooth ewe* at 33s 9d. 227 at 34s 2d, 211 ewes and lambs 14s 6d, X ram i:Ua # Cattle —Fat steers: 1 at £10 os, l at XlO 7s 6d, 1 at £15, 1 at A'l6 ■>», at £15, 1 at i-9 32s Cd, 1 at ill 10s. - £1-2 153, 2 at JL-10 153, 1 at £14 1-s Gd, 3 fat heifers at £0 7s Gd, 2 at ill 10s 2 at £11 7s 6d 1 at ill, 1 at £13 _s td,. at ±1" 15? 1 at £13, 1 at £17. 1 at £18 IC>S, 1 at W 10s ° at £10 17a 6d, S st £10 10e, 1 fat cow at £12 7s 6d. 2 at m 1 *1 £S 17a 6d, 1 at £13 7s bd, 1 «t £U !•»». fcow in profit £13 J7« 6d, J3-montlm od cattle £5 to £7 2s Gd, caiv€S A- l.i to £7 2s Gd, vearlings £4 7s. cow and ca.f £1-4, bull £10. I RANGIORA MARKET. Owing to the heavy rain yesterday the attendance at the Rangiora marjseu was small, as whs also the entry of li~c etock. The yarding consisted of 396 fat lamlM, I sheep, *29- stores. 18 pigs, and -*2 head or cattle. The sales made were: — Vat Lambs—For R. McQuillan. 7S at 25s lid, 51 at 255; G. Bsrker, 121 at S&s 3-J; j-lorgau Williams, 51 at 27s Cd and 27 at 263 7d; client, 25 at 21s 3d. Ewes—ll. McQuillan, 2G at 22s Id; M. Williams, 17 at 25s 2d; client, 46 at 27s 10d, and small lots at 24s to 2Ss 9d. The stores sold were: —S3 forir, six, and eight-tooth ewes ci 32s 3d, 100 two-tooth wethers at 245, 56 two-tccth evr«s at 275. 23 two and four-tooth wethers at 27s 7d, and 25 aound-mouth wetheis at 27s ti<i. There wa9 no demand lor the cattle, and they were passed in. Bacon pigs gold at ICOs to 1255, and email pigs at 19s to 255. ASHBURTON STOCK MARKET. There was a yarding o: 2J73 fat sheep and i—mbs at the weekly stock sale held a* "-he Tinwald yards yceterday. Notwithstanding the very wet morning there wis a good attendance of farmers, whi;e the freezer buyers pre€:nt operated freely. The following were tbe princinal sales: — Ewes—B at 230 3d, 21 at 29s 7c1,. 35 at Od. 10 at 30s Gd. 11 at 23s <d, 43 3X uls Sd, 23 at 31s Id, 13 at 2?s lid, 16 at Sfe Id, 3

at £8. lOd, IT at 275, IS at Ms 9d, 60 at K* My; at 325, 29 30s, ".sna i at "Ss 4d, C6S at 255, 233 at 26s ad. .1 at ' at -sY 10d, 41 at 23.. 62 at 30* 73 at CTs- 4d 79 at 2to lid, »* 41 at ! -233 Id. 43 M 24a 10d, 16S at 29s id. «• at ~ThV yarding o: store sheep consisted o £ two lines, which were passed at auction. There was only a small yarding of cattle, which sold as follows: —1 fat cow "t-_ -to, ,1 f»i heifers at £10 10s, 2 it £10 oS, - fat tsteers at £13 15s. MAYFIELD STOCK SAI.E. At the MaySeld stock sale on Monday the following soles were made: —tat lambs: lrJ at 24s 10d, 43 at 26s lid. 50 at 24s 3d, 112 at 2&? 45 at 25s 3d. Fat ewes: 57 at C 6* Cd 21 at 29s 14 at 2Ss Id. Fa! wethers: J5 at'3ss Id. 9* at 30s, 9 at 23s sd, 55 -at 2Ss. Stores: 120 tvo-!ooih ewes at 335. BURXSIDE MARKET. (PBESS ASSOCIATION TEI.KGRAII.) DUNEDIN. January 28. At Burrside to-day 127 Sat cattle were penned. Prices generally were about 13* ' above late rates. Prime bullocks £10 to £22 i 10?, medium £17 *to £1S 10s, light £14 106 upwards, prime heifers £13 15s to £14 15s, medium to good £12 10s to £13 ss, light £9 1 10s to £10 105. SKeop—lo62 were panned. The quality was medium, and prices were about Is above late rates. Prime wethers 45s to 47s 9d. medium to good 37s to 43s 6a, light 3Cff to 355, prime ewes 36s 3d, medium to good 28s to 32a fid, light, aged, 24s upwards. Lambs —169 were penned. Prices were firmer. Beat 31s 3d to 34s Sd, medium to good 25s to 2Ss, others 20s to 22a 6d. PROPERTY MAIiKET. A successful clearing out aale of furniture thus held yesterday bv Messrs W• E. Simes and Co. on account of Mr and Mrs J. Watkin. The property was also 'submitted to auction and realised t£6oo, Mrs E. Sanger being the purchaser. CLARIDGE AND SMITH x Report main items for wecklv eale:—Horses £10 10s, £5, £12, £10, £3 10s", £3 2a 6d. £6, worn-out £4 to 30a; pies. 16s 6d to 2os 6d; trap £9, turnout £17, Raleigh trap (iron tyres! £20 IC3, lorrv £44. trap £5 10s, gig £3. r.t. gig £16, saddle £3 9s, mot-or cases 35a, set harness £o 106 and £6, s. board £4 2a 6d; total £272 16s 6d. Having held clearing sale account Mr Haines, Harcwood. Main items as follows: — x Sowe £3, £5 ss, £7 6s: plough £6 2s, cultivator £4 Gs, Planet 555, harness £3 16s. £5 12s Cd, £7 sa: trap £9. sp. drav £16 ss, cow £20 10s, £16 10s, £17 10s, £16, £12, £15; yearling £j 15s. bay marc 9yrs £21, weaners 23s to 25a Gd. There was a large attendance a-n'd spirited bidding. Claridge and Smith, Auctioneers. BCS3 THE EGG MARKET. The weekly egg sale of the Canterbury Egg Farmers' Association was held yesterday afternoon at the rooms qf Meiers Harris Bros., auctioneers, Hereford street. There wa« a large entry. Every lot was sold at the following prioes:—First grado hen eggs (2oz over), Is 5Jd to Is 6Jd; second grade, Is 5d to Is s£d; competition eggs, Is 5Jd: duck eggs, la oid. l CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. Buyers. Sellers. £ s. d. £ «. d. DEBENTURES— N.Z. Government 4£ per cent, (inscribed, 1938) 97 0 0 — BANKSCommercial of Australia 15 0 — National of New Zealand — C 12 0 INSURANCE— New Zealand (cum div.) 11 4 0 — South British .. 7 0 0 — Standard .. .. 2 6 0 — LOAN AND AGENCY— Dalgety and Co. .. 915 0 10 0 0 National Mortgage 4 10 0 — Permanent Investment d 0 0 — SHIPPING— Huddart-Parker .. 1 17 6 «— FROZEN MEAT— Canterbury (6 per ccnt. cum pref.) .. 5 2 6 — N.Z. Refrigerating .. 211 0 — COAL— Westport .. 1 11 6 — Westport-Stockton .. — 0 9 0 WOOLLENS— Oamaru .. .. 1 10 0 — GAS— Chrisfchurch (cum. pref.) 6 2 6 — MISCELLANEOUS— Colonial Sugar (Fiji and A.Z. 6 per cent, pref.) 20 15 0 — Mason, Struthers (£1 pd.) 14 0 — Mason.. Struthers (14s pd.) 016 0 — N.Z. Farmers' Co-op. — 2 4 0 Sharland and Co. 1 10 0 — Sharland and Co. (pref.) 110 0 — YESTERDAY'S BUSINESS ON OTHER EXCHANGES. (PRESS ASSOCIATION* TELEGRAMS.) DUNE DIN. Sales:—Mount Ly«ll, 24s Gd; HuddartParker, 37s 9d, 37s 9d, 38*.