COMMERCIAL.

Press, Volume LVI, Issue 16726, 8 January 1920, Page 5

COMMERCIAL.

-♦ FOREIGN EXCHANGE RATES. (Br —Ptpm AsaociitJoD—Copyright.) (Australian and K.Z. Cable Ajaocjutios.) LONDON, January 5 Tb© foreign exchange rates ant as to'.lows: — Par. Jan. 2. Jan. 5. Pari* b. OS.KSJ 40.35 40.60 Stockholm kr. JB.IG 17.3 C 17.6 C Christians kr. 18.1G 18.M 18.73 Calcutta rpc. 10.1 2BJd 288 d I Mont re* 1 dol. 4.8G 4.11 4.l'J New Vork dol. 4.6(1 ",.7Si 3.73J SHARES. LONDON, January 5. Woihis—Buyers 16s 3d, Bellas 4£fe s*l. THE BRADFORD MARKET. LONDON, January 5. There is renewed activity in the Bradford wool tope market. Kino cronsbreds are firmer, mod ram and low qualities are recovering, and merinos are cJxxrrfu:. FROZEN MEAT PRICES. LONDON, January 5 It is expected that Vho retail ]:rvre of froren meat will shortly a» reduced by 2d per pound, making juef axrnijo 2lid sirj mutton ; COLONIAL WISES. j (Received Jannary 7tli, 7.25 p.m.) LONDON, January 6 Hi© jurons at the Colonial Win© Competitions at the Brewers' Exhibition, report that th© samples woro generally of a pood marketable variety, and well worthy of compiling w-iih tho older win© producing countries. The sparkling wines showed a marked improvement, some being pot up in pood itylo, and tho quality being- most attractive. CONGESTION K? LONDON DOCKS. LONDON, Jannary 5. The Aberdeen White Star liner Euripides, from Australia, landed all her passenger* at Plymouth, and will remain there for a fortnight, awaiting a discharging berth in London. RAIN IN NEW SOUTH WALES. INCREASE IN PRICES OP STOCK. SYDNEY, January 7. Bounteous riins over vide graiicp tmi have enhanced the prospect' of feed, end hove stoppod the rush on the stock market which marked the drought period, and rushed up the prices of beef on the hoof, which sold to lOd per lb, a record. The retail butchers, from to-day, will advance their prices 23 per oer.L Many are catting out W as too dear to handle. So far, the worst •western drought areas have benefited littlo. , BURNS, PHLLP AND CO. (Received January 7th, *.20 p.m.) SYDNEY, January 7. With reference to Mr Carpenter's appointment, Messrs Burns, Philp and Co. elate that their present intention is only to open up a merchandise business, hut it ia undorstood that this will shortly bo followed by steamer trade, <vnd > that, in the near future, tho company wil] have its own vesneJs running to New Zealand, with a view to the gonorul extension of bnaincos operations throughout tho Dominion. f'A previous message said: Mr J. A. Carpenter, formerly manager f<t Messrs Burns, Philp and Co. in Northern Queensland, has Ivsen appointed general manager of tho company's New Zealand business, which it is j intended to extend to the South Island.] j TALLOW. I The New Zealcjvl Loan ind Mercantile Agency Co., Ltd., advise having received tiio following cablegram from London, under dote Beoembsr 31st, 1313:—"Tallow.—We quote present spot raluee for the following descriptions of tallow: Fjno mutton, £5 7o per cwt,; good bocf, £.» (is per cwt; mixed, £4 IGs per owt. Better market lor good mutton tallow." j BURNSIDE MARKET. | j 'PEESS ASSOCIATION TELEGRAM.) I j DUNEDIN, January 7. | i At Bumside to-day, with the exception of j pigs, there were good yurdings <d iat stock • in all departments. I Fat cattle—2o2 were yarded. Prices for I prima animals were on a par with the mtes ' ruling at laat Bile, but for light, wellfiuiahed bullocks and heifers prices advanced lfto per head. Bee*, bullocks nold at £2G 17j ; Gd to £30 12a Cd, medium i-'ld to £22, light j £13 to £17, heavy cows and beifere £22 ss, j medium to gu4d £13 to £17, light end aged j j £11 10a and upwards. . i Store cattle—There wao a good yarding, j ! composed mostly of cows and young cattle, 1 'Wiich commanded poor competition. Only I one peu of good throe-yoar-old bullocks v.*v» nn oiler, which failed to find a purchaser. | Fat sheep—Thero was a good yarding of I fair quality, numbering 3526 hejd. About , half the yarding was comprised of go«yl quality f-hocp, the balance being cniy fair. ! Competition was keen for all prime* sheep at valuw equal to last sales rates. but bpcondary an! inferior sorts declined Is, and j iu some case* rao:e. No extra heavy weight sheep wen, forward. Prime wether* made ] • 41s to 45s Sd, medium 3f« to "Db. light an;l ' unfinished 30i and upwards, prime ewes 1 '••o 13s 3d, medium 33s to SO, light and aged j ] 24j and upward*. ; Fat Limbs—Th«re w as a yjirding of &», ' inoet.y cf medium quality. There were no ! ! freezing buyuiß in the market, anS competition was therefore practically restricted to butchers. The yarding r a in c =cess of retirements, resulting in a reduction in Va i? C "' Pncc * "">R®d from 20b to 30s». Pigs—A omall yarding met keen competition and tlie prices obtained were folly to the hijrh rate* rulin- Pri"<> baooners realised from IOJd to Hid per lb, ' and prime porkera from 1» to 13 2d per ib. SALE OF MOTOR CAES. j Josm, McCrorti© Company, Ltd., sold by public auction, yesterday, in Mcusm Scott's Cashol ntxMi, tbe znotcrr -: 0n „ icc .'^ r ; t °{ - &-*ater Mitchell, to Mr A:;cburch, for £320; on account cf the owner. Sweater Darracq, to Mr Rrtohio I {>'•" ; °n account of Mr J. J. Williams' MiScbeU. to Mr G. F. Svolt, fcr £3'X); on account of Mr C. V. Cross, 1 «iatT !sri=coe. to M: J. U.jr.t, for ~£?20: | on jeeount of * c ior.t, Allan, to ■ I Mr-ran C.V-irc'i Brce., for £2C5; and on ar-l I count of Mr Ryde, 2«ater Hnpmobile. for £33, to Mr J. L. Tumbulb

PRICE OF kerosene. The manager for Now Zealand of 'ho Vacuum Oil Company, Ltd., wriu».--"The »dvinor> of 1b per cam in the price of kerosene, effective December 22r.d, « duo to the l»e«iry loomw that occur in the eonvereion of British currency in America, as veil aa to increaMxl prime costs at tho source of eupply. When the last ..Heritioii toik plaeo in selling price*, the rato of exchange ws« 4.25 dole to the pound rteriinpr, or. in other word*, wo loccivctl 1T» s|d for each 2Cte converted. The censational arr.l unprecedented downward movement continued to occur, Irut it uu thought that when tho conversion rata reached 4.00 dols (IGn to tho pound • tho turning j>oint had been reached. Tito rnvcrso has happened. I'.xch&ngo lias continued to fall, -rr.l wo continued to bear tho -resultant losses, until today, with oxchanje at 3.70 dols (15* 2Jd), and with hisltcr prime cost*, we havo no option bnt to advance prir«j. We would also explain (hat, whiln tho lo* in exchange between August 18th (when it viw 4.25 dala, or 17» 54d), and to-day (when it in 3.70 dots or 1S» 2Jd) amounts to Sli M in tho pound, we are fortunately able, for tho present, to limit llio incivaee. in prices to la per case, owing to our having nuoewdod in procuring somewhat better freight rates on v«mcl« that wo havo recewtlr chartered. We are etill hopeful that exchange will be nUbilrsed in tho near future, in which even kwwene pellir.j price® will be adjusted aocording-lv. cHßiSTCiitmcn stock exchange. | YESTERDAY'S TRANSACTIONS. I Sales reported:—Royal Bark oi Australia, i f J £"• j LATEST QUOTATIONS ! H.— P.*l

| Buyer*. Sellers. ; 4 a. d. £ «. d. DEBENTURES- , j iC.Zu Government 4J p*r ! cent. Bonds, 193S .. 03 0 0 — 1 INSURANCE— New Zeatr.nd 112 0 — LOAN AND AGENCY— Dilgetv and Co. -- 12 0 0 Goldabrarugh Mori. (Melbourne) 2 6 0 — N.Z. Loan and Mercantil© (ord. ftock), ex dir. — IIS 0 0 SHIPPING— Huddart-Parker .. ISO 3 « 6 P. and O. Dcf. Stock 565 0 0 — Union (51 per cont. cum pref.) .. .. 10!) —. FROZEN MEAT— Canterbury .. — 15 13 0 X.&. Refrigerating 1 (X* paid) .. 2 4 5 — North Canterbury Froesing 3 13 6 — VTelUr.srlon. (t! lCs Gd paid, ex dir ar.d cum riffbta ?. 13 0 — WOOLLENS— I Kaiapoi .. 9 7 0 f> <0 0 CEMENTS — I Golden Bay .. 1 3 6 MISCELLANEOUS— Beath and Co. 1110 Colonial Sngar — 24 10 0 N.Z. Farmers' Co-op. (£2 paid) .. 2<r, - N.Z. Paper Mills .. 11-20 United Pictures .. — 15 0 MINING— Waihi — -2 S n YTaihi Grand Junction -- 0 1* li • TESTERDArS BUSINESS ON OTHER EXCHANGES. (rnsss association tki,«<;ram) DUNE DIN. Sa<e«:—Mt. Lyell, 2G* 9d (t*o parcels): Dominion Rubber, 41b Od. Salo reported:—D.I.C. (prof.), 2l« (VI.