FINANCE AND COMMERCE.

Press, Volume LVI, Issue 16728, 10 January 1920, Page 11

FINANCE AND COMMERCE.

(by oi'n

REVIEW OF THE SHAKE MABKET. The Stock Exchanges reopened on Monday last, but as yet the volume of business has not bocn l»rj:e. Business has boon imported locally in partly paid Bark of Now Zoa.arul at -lM 13s, ex » dividend of i*. per cent, paid just before the holidays, end in Royal Bank of Australia shares at 25*. llalirety's shares have been offered at £13 without success. and buyers have offered 1 for Cioldshroiigh-Morts, vritjout attracting a. seller. This company has declared an interim dividend of ."> per cent. The New Zealand attorneys for tho New Zealand and River Plate Company have received cabled advice from London that the directors propose to incrc««e the capital of the company to £700,000, by tho capitalisation of £350,01X1 out of reserves into 050,000 shares of £1 eneb, to lx> iMucd to shareholders in the proportion of one new share for each sharo row hold. This proposal will be submitted to -tho annual meeting on the 13th inst., aud t» a confirmatory meeting on til© ,lrd prox. \ final dividend of 7 per cent, is recommended. which after deduction of English incomo tas of Gs in the £ will amount to lis -76d per share. Business has been done in Huddn.rt-Par-ker« at 18s (Id. and for P. and 0. Deferred Stock the quotation at the tinio of writing is. buyers £390, with no seller*. New Zealand Refrigerating Aha res show n. rising tendencv in anticipation of the issun of the annual balance-sheet. and transactions in both issues havo l>een reported since the holidavfl—in fullv paid* at Us Od and in partly pa'ids at lM* 6d. Tho latest qiiotiition for tho fully puia issue is, buyers 45s .Id. sellers 46s 3d. ■ Crown Brewery shares havo chanced hands at 355. which is'tho fiptre at which business was done just before the holidays TTiero is a keen demand for Golden Bay Cement shares. and buyers aro offering ils, as compared with Hl* before the vacation. Milbum I.iroe and Cement shares have been sold lit 3ns 6d during the past few days. In mining shares tho keenest dctnand h«s been for Mount Lyelle. 1 nere have been numerous sales at prices Tanging from 21* 3d to 2€e !)d, ex a dividend of 2s per share paid on the" 19th ult. Tho latest reported sales, cum dividend, were at 27» 5d and 2S«. At tho timo of writing the latest quotations for the principal Xcw Zealand mining share* are: Waihi. buyers 475, sellers 17s !>d: Waihi Grand Junctions, buyers lis M. sellers 13s Cd; and Talisman, buyers !k>, sellers 10s. THE FINANCIAL OUTLOOK. (FHOM OCR OWN CORRESPONDENT.) WELLINGTON. January !>. Brokers interviewed to-day take an optimistic view of the prospects, and all of them aro inclined to the view that business on tho Stock Exchanges will be stood. provided there are no wrious labour disturbances. Tno«e closely associated with finance hold the view that very soon nior.cy will bo <!ear._ that is to say. there wi'l be a scarcity of loanable crcdit, ard the rates of interest will advance. Mr M, J. Reardon. the wellkuown Labour leader, who bus jus' returned from a ehort visit spent in the United States, says: "It we ma to me that we are on the vcrco of a "cry serious financial cri«t:s." This supports the viev of M*r Harold Boauchamp. chairman of the* Bank O; New Zealand, who hae just returned from a visit to London, who i* of oninion we are in for a. peri.*! o: dear money. Tho two authorities are observant men. and cannot i* classed as scaremonger*. If, then, money is to Income dearer, then it is obvious thai invaslom in shares wiil not be content with of 4 aß<; 5 r.or cent, when more can be obtained bv investment in other directions. There nothing to be said in favour of prospective values, for this nas alreadv been anticipated with rcspoct to most I:, then, money :s to be dearer iu t'le ti'Mr future. ;t to TAason thatshare values must. decline. Share'orokers are thus l-'kelv to be burdened with sellers, wi'h a scarcity of buyer*, and it will not ne p.eieant to advise clients to cu: their losses. GENERAL NOTES. The tendency for hardware prices to r:*e is vcrv marked, an': merchant* ant;c:pa.e that the present will be tie wont yeay '• ■_ exrerieticol, with a corresponding scarcity o! m;inv lines. In this connexion, some remarks by tl-.e Canadian Bank of Comirercc a:e of t>resent interest. It -- difiScult. mv?. to iird sound rea«ors for the general .vhe: that prices have reached their highest point .ront which duirng the r.ext few months t:.ere w;.l be a frrud'uel decline. Krjq'.i'-rv reveal ■ [K . fact that in all narts of Canada the tiemar.a for pood* is qniie is grtat ns at anv 'mie since a scarcity wxs caused by the pressure to obtain war supplies. To_ meet these requirements tiere :s no cf an increased volume of production, for jJ"» °- la'ootir, pxrt of tho machinery of many industries remairrs id:e. while during Augus. loss of 31G.157 working days resulted trrou r -T strikw. That consumers will clamour lower valued is out j liea in the greater production of gooes -or the eatisfact-ion of public neeos. Pnce-.»xi and tho artificial restriction of protits win tend to discourage rather than to er.napc* production, with the inevitable _rcsu.t tnai prices will be iorc<e<i to higher l CT<r -*: Tht.-t- i« a rcrr.ark.ibV scarcity of c-nce ac-comm.-Jation in Wellington at write* our correspondent. There has » in real estate* and liou*® niaoc.l

ECIAI. LDITOn.)

DOMINION'S TRADE AND MARKETS.

hus l»een changing hand* very fr<v>ly. •with tho result that there has been a nni/sJiroom growth of land agents, It ml ihoT aro to bo found as plentiful as autumn leaves in almost evory busine?', ptrwl. Tbc demand for offices thus created iiiid by demands from o!hers venturing info other liner, of cominiiuuon anrl indent lnifinos.*. has caused effine arcom-nodal ion to brcome t-cjrce, aud rents havo risen .lohn iJnnn, Son, and Co., of >*ow Vic),-, report >jnder date November Ist on conditions ill -the United States. :i.i follows:- - "Intense speculation ha? continuod during tho pm month. This has been confincd an heretofore who'iiv to ir.-JuMii.il shares, even tho expectation of important lal>our disti.il>-anc-e-a serving to cheek onlv temporarily (lie speculative enthusia-sm. The enormous bt.vinfr power of the country, together with the curtailed supply due to striken, shorter horns, low efficiency of workers, and large export?, make high prices readily obtainable in most lines of busincfi?; in fact, real compctiMon J9 almost eliminated and earnings of most of t-hcoo industrial enterprises aio un-Joubt-edlv very largo." "The Hritish Trade Review" Vr,<he last mail says that tho railway strike luvrl a mischievous efTcct xipon the well-being of tho Sheffield industries, but the fiti'ke of mouldor* was a much more rorioua atTair, because it ha<l h«en going on for a month, and owing moulding being a key procc--«, it« simpetusion was gr.i/iiialiy "ringing ull tho engineering and noino ether works to 'a standstill. lluring the period named all the steel foundries and fomo of the hcavviron foundries had Iksmi elcwJ. Thoso rie7>a.rtmcnts were fairly lmey when the trouMn broke otit, especially on castings for shipbuilding. . I'ortun.iteK t.he moulder.* in the light cas'.ines foundries, whcio titove grates and other building goods wvro made, were not participating :n t!ie strike. They belonged to a different union than t/10 t'irfatisfifl moulder.-. Tho lemilt was that the production of light builders' irunw.uk had gone on uninterruptedly. The fomidries were now beginning („ bonk ~r ri c r. , connexion with vome of tho bin housing scheme*. Great quantities of a fev patterns wero required. The inflated prices of builders' ironwork and other materials showed no sign of coming -Jown; in fact, tl:«-v had gono up appreciably sinco the end of the war. A villa '••hieli in 1013 cost £500 to build could not now be erected tinder ahcut £1200.

Sonic striking figure.* arc contained in a review of the prices for inetais at Homo beforo th«> war anil at tho end of last year. In .1 illy, 1!I14. copper (stand iH) was quoted at £61 10s, at the end of last inont.li it stood at Jflll 12s Cd. Tho advance.* in other metals iri the )x>riod mentioned are shown thus:--Tin £111 to .£>.l7 1.V., lead Tin to /to lis fid, #poltcr £J1 10s to £57 ifte, rilvcr is Jd j>er 07. to 6s 4£d. pip iron ols 3d to lG3i>. As from November 3r.l last Britich ho...=o■jvivM have had to pay a increase of Id jer lh in the Tctail price of «ii(.-ar. which, pi;or to that, w.j? fijd to 7jj )>er lb. Even at the increased <o«t the individual *ujMr ration r<! Soz pi>r person per it«k is s:iU niainl.iined. Imports by the latest mail include an interesting notice *>y the ]!oyal Commission on tho tirppiv and pr;ce of cipar, from which we quote the following poasacts:—"ln vie-*- of tjio cerimi* incrc«w in the world price of eu-ar it has lwconio n"cc«'?.tr.' to increase tiie feliinp price in tho United Kinrlom. The world nipplv of #u;rrir :5 r.ot oufßriei.t to !nee! tho ofiet - ti 'o demand, and at the present tato of consumption a continued fdiortajrc i* to bo expected. The l>cet production in Europe has faXrn bv 4,£00,000 tons ff.c 13H. while :!ic cano sur;ar production c: ;h« world has risen by only lTnfin.r/.O tor.s. t ■ leaving a net decrease of -.400,000 ton--- ,n the stipniie*. In America the prohibition the uf" of hoer and ha* led to an crca=*«*l demand for pusrar in various forirs. In th:s country tho hish price of .i« compared with the pro-war p"- c<> . as !c<l to a reduced consumption. These factors make xhf position more acute. . . . A? 1 result of tin;?'.-" by t' <• Sufar Comnr«sion, the prr«ont retail p-:cc of f.isar in the ("nite.i Kingdom in at 1- ;st 3d per ■:> be!<v.v ;h«* p:ice at '■'■•hiVh j-uipp' v. 5 purchased row could b<> retailed. and for some time the :n.-s or. tie caV of as been met out of the reserve accv.raui.iV-j -.iu.'in;: th" earl-.or periol of control. Vi'.th tho prc?r»f.-; r.r the eariv fxhaurtion or the jruppuos hrtT.d. i; is iio Lonc<-r por-ibie to n:#int-iin the ->resen* io'.v price of fijd t<> 7«<i per ;<r.d 'lie Controller has cording"- dccicic-d ;o m.ikc an mcr<M--e of Id por l' l I'l 'he ret«i! Pr 1 . . . Ti:--Co.T.mission b'-o decide-: "hat d: •_* '' year ir>2o tre i»:ai r;'::i" of p-.n-ar ::r.-p<-.rte«j :nv» the I'r.iteti ICir.srdotr. shal! V !eart "> ies? than the <iur.nt:ty to be imported (i~ tho year. forts ar* a.?o Ti;a r io to obtain a cei. rr.i": ccor.omy tr. tho corisutnptiQn of .-.isar :r. other c<v.ir.*:>t. ar.d it :* i.opod that _a: v ?a"- i:i- :u this cirectioc will l.ot be •a-ltc vut i'i effect or. J>r;ccj." GENERAL MERCHANDISE. GROCERIKS, ETC. f-Mfor.'s C'a!ifon::an &c«j'.e=j .ir.fi s»e< : o<i nusins su'tanaJ, prurcs, apriiOt#. ard aro include*, in ghir.mants just to hand ox the Kurow which i-ipectcd betoro Christmae). Tofua, arci On ac-ccui-t oi th« fall in tho sterling exchaxrrc<. too rate on the Tcfuj's beir.c 3-P3 do!., the coxis aro ai! Undine at coc«id<frab!y er.prices, t!.O ri?c ;ie:nr ir. some caaoa id or -i"i re- lb. T«i! 4 both bji'a aid jickct, hive arsed,

I Mid i'' ra*e of :he latter th* 1 to*;r *hil»ir.«" I tr. ir'< h<is »lr>.-s<iv beer, tbou;:i »o:i:e

: wot-k* am cxperier.cfd ir.crci:»r;M were : iookirg to;- this to happen until atoul Eastfr. One r.m: of parsers anr.our.o t^r^vds ' Kt price* ranting from .*> t-i to 4s but ; i« only selitr.g tho lut-r.anted rt_ j res« n: { Tea is cheaper here than :n «<:!inp\o7i. I where, i» :s reported, :s b'tnc «t»U j ur.ccr th>"» prioo >"f t«i _r '" ' ci w'n«r-.sj> in C hr'ftchurcii •.!"•> ha* peett ! fro:i; Jr I'd to -t-v New arrive ' i owevcr. tell at ' 1 \;pw.iru?. ard it i* i r re<i:c-;e<i that q-isl.'its «'f parxet teas i I'm'" v.-- be retailed a*. 5.= . Lat«>t r n rort* ; frorii ;*:dira> a s.aokerinc : ti!« detr.aiid cl.ri p!:ce for ootnrnrn sot!«. ■'■ ''' all iv::,:r gra.-les are prin'.c at i wltrl't!-.' a t .-anerd ra>>*. Th.-.-" ;* !::t!.. tn to what P.a« ! t-ti ; -li«he»l resard r.-* t'--> sugar frortiice. "Ahu h if still as srutf as ever. ' o; .;i-> to"= is to reach this j rr.irko* • r:r rcprostT'.s jout half I th/< rconini.-nt s.. I T-.vi of the.' I r;:- :."„1 ;r-:-rr.aking nra;« have advr.r.ced ; :;r^ j a i-or pour.n a": To'ird a! ■! -.vi'.'. i.n- aivry; :",rn - . orders, on .irrourt :i>-- s.'::'-i:i? position. tiny are plated owit'g t<• tlio- short s : 'pp'" Mir.,;'. Ir. the u:<r.r.:irne :nat:>" i;"cs are r'v. A ill ?hi.'.:i;e*:* of new sensor.'* has .'list a;r:vcd, ;rclu<iir.ir a -11; c* MK.\eyo, which ver_- -<rco lest seajot . ; S'lppluj of Ed;t:oj'.d'« a" 0 •,in:>btai::uble at }>re*ent from the rattop.'. on acroi'.Tst of 'i..' srortact- of cmmiv. of tartar. ! D it~*. both, 1 .'il,-r.i ir. cartons, havo just anived. ;:.i :l" bee- tianshipp*d :1 ' >>''lney. at priivj which -.vill allow them to be retailed a*, lui and Is ?cr lb. i I»cal su>-ks of pir.eapnlo are nlniott done. Tho next of llawaii?n will aTtvo ,i, A'.i.Hira.iia, a?id w'.l b> rediie,"'-'. '- 1 Quantity again;-' orders h--.- about- .'0 2 HYr I'ent. Mail" rrri'. al* c{ Au«tral:«n will show an increjsc. in prices of about i'er flor.. quoiatiors i>ro prohibitive at. present. No vise hi.« yet taken td.uo jn tobaccos, thotic'-i Fupplios are scantv. None of tho roptilar brands liave in lately. CoiisiirnmouM <>f I!. ar.d P- Erilislt coniflinir are <i*jo vcr>" eborOv and l-e relaiied at Is pir lb. Tho prices of Nestles, Caillers. IVtors's chiK-olate or nfectiouery havo been raised from 3s to l'J? }>er box, and Caillers plain eating ohor-rate to 'Jts ho.'. \ all lloiiten's cocoa has advance-- from Is 10d tu ]>er li>. !'• trol is being rationed uncer the Board of T.\ide'.» instructions, which praciicr.lly confire to a fortnight's rupr'.v. Stocikt-- of Epsom salts sre light, and preser.t qnotations are 5s t!d ar.d 3s per box. I loib.es :<tc scarce and in demand at 17s ]>er box. 1 Savo and t.'ijiioca ate* almost unprocurable. I A rv-cent Svdrey report stated that tho positio'j regardir.c c.at'ury seed was oausing ar.xioty. Spot stocks were rc-ported piactioallv exhaust.nl. A cablc front T.ondon showctl that Moroccan canary «eed could not bo landed under £7(1 per ton. \_ery little was offorincr. A stock wra in thf.- t ni:?d Kingdom, but the Government would not allow shipment for cvport on vecount of the excessive quantitv oi doddc-r in tt. News from Quee.-slfli'.-l wfir th.at little or could l>e expected from that quarter, e« dry weather has pricvlrnlly ruined crops. Turkish seed was. of course, unobtainable. There jind been an o(T:r of Argentine cßnsrv seed on the Svdr.cy market for prompt shipment from Buenos Aires at £."7 10.* per ton c.i.f.e., r.iid that, apnea red to r. — the only sourco front which supplits could bo immediately obtained. HAItDWATE. Since the holidays business has improved dir.- bv day, and i.ae now ansuracd normal ptoporlions. No quotations for heavy gorwls. wire, nails, elc., aro bein" offered, and no orders King acceptetrby the mills at prefcnt., ss the works nrr> niostly closyd down. Currr>nt local quot.itions aro black wire £3o i>er ton, galvanised wiro £41, no barbed wire offering, nails 45s p«r cwt. At the nricos mentioned these commodities aro good property. Vjtirlv representative stocks of nails aro held, but tho price cannot long remain rs at present, owing to the increased cost nt tho Canadian

works. Tho demand for building hardware )« gradually imuxoving. Corrugated iron l« selling freely at previous quotations, £60 per ton, there being rvcrv pro'>%bilitv of a. furadvance in tho next few days. All metals and many metal manufactures havo increased in- prior in tho last three or four weeks. Sheet lead has advanced £4 per ton. lead pipe £4 10 9 per ton. plain sheets (English cabled quotations) £3 to £10 per ton, and tinned steel sheots about Ai jior ton. English iralvanised pipo '0 per cent. Merchants Tcport n scnous shortage in cement, which is practically unprocurable. A shipment of round stool l> - ars. up I" 10-inch diameter, is arriving shortly, ajia wiu bo acceptable to the. engineering trado. The fact thai these bars are of English maJtufacturo indicites the approach of mono favourable conditions at Home. Tile local market is practically bare of steel plates, and English and Scottish to ills cannot proiniso any of their output for cxpor'-. . , , . A small shipment of ,">-IG-inch round iron H due ex Port Caroline. Tho market has been baro of this size for tho past four years. As forecasted in this column, bolts ajid nuts havo -advanced 20 per cont. all round, and ;i.s the makers havo altered their list, a cousido-rubc advance is shown on tho smaller sixefl. Tho samo thing applies to coach screws, set ecrews, and tapped nuts. Since- last, report, three weeks ago. English white lead has gono up £fi 10s per ton, and American ditto has advanced £2 6s Sd in tho week. Linseed oil i« quoted nt 12s 6d per gallon. A private cablc mesfjgo from Great Britain la.it week gavo the following f.o.b. nol, naked, quotntions: — Wbito load, i' 7.7 ,'i« per ton: red lead, £63 10?; raw linßecd oil, fis lid per gallon. On December Sth cablod for tho so line® were respectively i-'7O 50, Xj.», ajtd Ss 7d. Best lta.lian pe-iniing twino is selling wholesale in quantities at 4s 6d per lb, but will cost Gs to land within a. few months. Welsh manufacturers of tin plates have advanced their rates steadily of late, a recent mail advice quoting 37s Cd cx work*, for 1C 20 x 14. Subfoquently it whs reported that Bessemer standard cores were at 33s to 40s. 7n the United titaten, the mills are reported to have an outlook altogether umisual for this timo of tho year, many of theni being sold out to the end of Dccrmbcr. The export demand is stated to bo briyk. and some of tlio leading American mills are refusing to quote for such business. From present indications, t hero seems little if any likelihood of lower rates becoming operative either jj t Walos or in tho United States fo>- some time to come. Privato advico from Home indicates that May next is the earliest at which fresh orders could be executed. METALS. (By Cable.—Prsss Association.—Copyright.) (Australian and N.Z. Cable Association.) (Received January 9th. 11.55 p.m.) LONDON. January S. Copper—Spot £116 2« 6d, forward £119 2j Cd: clectrolyfic ingots i'l2l. wiro bars £126. Tin-Spot £353' ."is, forward £361 ss. Spelter— Spot £.77, forward £53. J>ead has dropped 2s Gd per ton. Silver—76«d per ounce. (Ifeceived .January 10th. 1.30 a.m.) LONDON, January 7. Tin Stocks. 21,131 tons: on spot. IfSOO tons; nfloat. 272S tons; deli-erics, 23t0 -toi.a. THE PORT OF LONDON. (Recei-ed January 10th. 12.13 a.ni.'i LONDON, January 7. Tno recent statement 'hat tho Port of Auihoritv had placed special wharf and ot'icr facilities at *.ho di«po«al cf the Australian fruit trade is described as incurroc:. Tho Authority is prepared to rrrant certnin facilities, providcyl that no mononolv lo :jeid by one fmii. AUSTRALIAN AND NEW ZEALAND WOOL IMPORTS. (Received Jar.turr lOih, 1.30 a.m.) . . LONDON. .Tanunry " ' r - O J sports during 1310 of Austraiian and New /ookr.d woo! into tho Ur.ited Kingd-,.-n amounts _to 2,.-,23 372 bale-, an compared Uitb ba.es -hiring the previous vtar. Ibo Ixindon a:iiMnted ' to 1.i:»6,014 COASTAL TftADE. > Received January 101b. 1.30 ». m .) . . TOKIO. .Tanuarv 7. l orders'-"lod tha* tho Governicer.t ir.-ter.-.s to perrr.it torcigri-ownofi steamers to la. tn<; Japaneso coastal trado. SHARES. Jir.uar-.- 10th. 1.30 a.m.' . LONDON. January 7. P. ana O. 'aef.. r.nyens £353. sellers ioC'3. tallow. 'Received January 10th. 1.30 a.m. .. LONDON. Januarv 7. Ta„ow .Ojl c«ks were f.fTerci and Ug 1 " 1 sc;a. Mutton. _ cor=m->n sorts 2- per cwt. ar.d :a;r beef, mixed. 4.i p<>r cr'.; mutter. :.e K-0«. rceiiiun; ;r»is per cwt. Beef. f.r.e 115*. trediurn per <.w;. AMERICAN AND CANADIAN APPLES. 'Received Jar-uarv 20th, ] 4."> ami LONDON. Jar.liar.- 7. It ii expected there will bo large arrivals r.f American ar.-l Canadian apples in Er--laryd_ we:r.*o May. J.i.o Internatip.ial Ap?;o Sh-.ppe-s' A.vic'aticr. <stircat*s there »'» the equivalent of 3Q. r K*\<M cases in storage in the Tc;ted State: aai Casada in the iciid-e o: DecciMx.

avstpamax markets. t •MKLWI-IiXK. Jnr.i.ary 3. : Rar>v . English. 7. to 7» -|j Cape. f- j Oat*- Milling Algerian. C».« to M Id; >«*«• J .V M f V M tVtate**-£l3 t". i-.T. ; Oni.-r-f—a"? to i'.» U >. HIDES. : MELBOURNE. .Liftsrv 3 | ?oi ts .1 re Kij* and l.~ht 4te a jb.i<ip c.tjier. ; .u">tralian i o-iirr.nAT'iVi: ; federation. ! MELIKIURNU. January 3. , 7h.- cor.fwnco has i-onchi'U-fl. : Th«-, principal bt*:iu«w tho p:«pai.Ki.in I o r i 1; men.'~ra nda and article** of ! :.t.. m that tei:istr.iti-in may l«o eff<v'ed : oa:'v ;u I~Vpn. n ry. when j-''. o »c r.l. oris , w;:l c*>:utr.rrcc. Negotiations will follow :'->r the pure base of thrf-- larro organ 'Nation* - tb«* ! <.'•>-< .perative Wholesale Federation .->f Now j Zcalai-l, the Federated < V>-orcra-live Association of South Africa, ami the ! Australian Producers' Wholesale Corpora- ! tr.y Federation. Tb» tonfeience arranged for pre.;m;n.iry investigation* v« " ! o nud.> by Tcpresentati-o co-nrrrntive men in I«ondon. with a. view to ; cvt.vjli'hir'.g a federation there tor the d'-ta. o : >iec: of l.uving and «01i:!i.7. _ ■ Tun i-rsl i£>=:;e of share will he 3<W» at : £10. The siib.-rnption vi!', W confined to i then- companies engaged ii: the distribution j of primary product?. j CHEISTCHUKCn STOCK EXCHANGE. j LATEST QUOTATIONS I Buyer*. Seller ». | £ s. d. ±' 5. d. ! BANKS- I New Snutn WiW ;>x . rights) .."00 — I'nion of Alls'r»'i:i 'cum | dir.- .. -- IS 3 »j ■ LOAN AND AGENCY- j Permanent. Investment tex d'.v.i ..300 — shipping- : Huddart-Psrker .. — 2 3 6, Union (3* per cent. cum prof. l 10 6 — | FROZEN MEAT- _ _ | rantcrluiry — 0 N.Z. :iM paid • .. : 5 .T "2 6 " North Cantcrburr J-'rcc:-.- ! iif: nun — ■\V< ihr - ton Cd paid, rum ii;ht« .. IS 0 — WOOLLEN'S--Kniaos: •• •• 9 S fi — GAS— Ain-k'innd .. .. — 1 <"hri.«tcliu r ch •• •• - • f' Bl'KWKlilliS Crown .. — 116 0 MISCELLANEOUS— Hpalii and Co. 3 110 — Cant.. EaTmers' Co-op. (Tim.ittii 2 b> o — Ca.nt. Publifhir.? Co. — 1 1 r> j United ricturc« .. — ISO MINI X «•- - Waihi .. — 0 £ o YESTERDAY'S BUSINESS ON OTHER EXCHANGES. (TRESS ASSOCIATION TF.MIGRAM.) ni*NEniN. Sa'.ep Ltc'.l. C6s f»d (t*o purer'.!*; Wext Caist, r.o? (two parrels); N.Z B«*fri?«Tatir.c Co.. 26? (four parccls): N.Z. Ineurance, 33s f.d: Huddart-ParUrr. ins. Sa]o«. roportod :--Rjnk of New J>aUrd, I'M 15.*; South Otacn Ercczinpr Co., ■.'* 6d. CANTERBURY MARKETS. I'ri-lar Evening, is ..settling do-m after the liolidays, but deal.s aro ii» v;rw of the new season's supplies roniing in and the- uncertainty .'iJ« to how values will commence. Oats ar«» cxpectcd in open firmlj*. mJcs recently showing 1 tendency in that direction. A Bhado over a bushel at country 6talions ha* been paid during the weelc for Alperians, and they aro firm at the fiptiTc mentioned. Gartony have alfio remained firm at . r n«. Sacks are an importajit. item this wason. tho price beinp 2s 6d, as against Is od last year, represcntinpr about .Id a lmshel difference. A Rtvxl deaf of crop i* now in the Btook, and with a continuinee of th« present fine weather will soon lie threshed. It is said th«.t in a number of districts the yield will l>e heavier than cxpect-fid. Chaff is rot in such firm demand, and pales have taken placo at £G 10s at country stations. Tho indications nro that the new •""awn's chaff will bring somewhat less than t ha I. Cocksfoot is expected to open at up tn Is per lb, the Bays' harvest beinj» a. somowhat dissppointinp one. Tlio following are prices paid to farmers at counto" stations, free of commission, sacks extra, except wheTe other*-inc sta-tod ; — Millinfr Wheat —Accord in tr to Government prices: South loland, Pecember 6s 9d j>er bimbel; NorUi Island, 4d per busbol additional; fowl whea-t, ns lOd t/> fis. Oats-Gartons. A's 4s 3d to Sb, and B's 4t 7d to 8d; Algeria.ns, -Is Dd to Es; Duns, fa ed to ts 3d. Barley—Frimo maJtin?, t!s 6d to Te: Cape barley, 4* Gd to 4s 3d. Vlour—£l.> per ton; lOfilb batye, £15 15s; 50Tb bags. £!•>: 251b bipi, £16 ISs. Bran—Shipping, X 5 10s; local, £5 11b per ton. Pollard -£7 Ids per ton. Oatmeal~2slb b»gs, £10 per ton: "lo oaj:s, £34 ptr ton. OstshoaT Chaff—£s 10a to £6 Ins. Italian Bynrrass—Up to 4s to 4« Cd. Perennial TJycn'a**—4s to 4s 6d. fVicksfoot—3d to 10d. Tied Clover—l« fid to In lod. White Clorer—lji 4d to Is 7d. DAIRY PRODUCE. Tbero is no to report in quntitions. llacon is practically uiiprocurali!e. Wholctalc rates »re: — Butter —Factory Is 6d net, farmers' separ rator Is 4d, dairy Is 3d. Cheese—Factory lid lo lljd, dairy lOd to 10id. Bacon (nel)--Sidce Ift 11(1, rolls Is 3d, huns Is 2}d. Honor —Extracted 6Jd por lb, tec liana 5s por dozen. Egga—Hen esgs, Is 1(H. FRUIT AND VEGETABLE MARKET. Vegetables havo been in good supply during the week, and prices have been low, though slightly in advancc of last week, Th« market lus dropped for pcae. Potatoes are in abort eupplv, and tbo demand is keeji, and prices high. Thero hits been a fair quantity of small fruits on the market, but they havo boon meeting with a slow demand owing to tho shortage of nugar. The market haa been kept well supplied with Nelson tomatoes and also plums from Auckland. There has been a good supply of 'Frisco oranges and lemons, sales of which &r* rather slow this week. A shipment of Fiji bananas is expected in about ten days. There will be no Sydney fruit arriving for wmo time now Tho following iiro wholesale prices: — Apples, 'Frisco, S'is per case; bananas, 27s Gd to 30s; lemons, Auckland, 435: oranges, Valenciaa, 455; apricots, Gd to 8d per lb; bl*ck curnunts. 3J.d to 4d; red currant*, 3Jd to HJd; whito currants, 3d to 3}d". cherries, Gd to 8d; cherries, local, Ed to Is Cd; goosoberrie*. 2Jd to 3d: rapes, 3s: pe«chm. 3d to 3d; plnm». 4d to Gd: raspberries. Is to Is 3d: strawberries, Is to Is Id; tomatons. Is to Is 3d: local foconds, 3d to Is; walnuts. Is 4d; beans, kidney, Sd to Od; cucumbcrs, Is Cd per ib: new potatoes, Focal, 3Jd to 3id per lb: northern, ljd to 2d: onions, local. 3d: Victorian. 2d; cocoanut?. 21s to 22* per eack; potatoes. Ts; broad bean?, 2s Od jvrr sugar bag; beet, 1» M to Is 3d per doien bundles: carrots. Is 6d: parmips, 1?; tadishw, fid; rhub«rs, 4s Sd; spring onions, Gd; turnips. 3d; cab-' biges, l« to !s per dorscn : cauliflowers, 3s 6d to 7c; lettuce, Cd to Is 3d; jicen pew, local, Ed to 3d per peclt TIMAJIU. fsrinix, TO "THS PRISS.") TIMARU, January 3. Th«*re h'kre been no offerines of whnat this week, and th« chief tonic of interest is tho :ixir.g of tho price* for new reason, '■••h'.ch it is hoped will be arrived at during the rcxi we«k. Meantime the crops aro com:n? r,u very we','., with the exception of aomt which are affe<rcd iiv "t.->ke ail. - ' Oats ar<> qtiiet. 11 i« ror.orted that heavy storks hre held in tJ:« NV.rtii Island, ted th» pr<>sr>e<t« o: tho crons a? the pr»<wri; time poir.t t.> pood yio'.'ia. < onsequf ni'.v lower price* may r.:' r . j:;uch will depend on i:pw litr oats tjke the place of wheat for •owl feedinc. j Oaten «=:;«»: r'r;aff is dull. There is r,o rlen-.ard. end verr litllf, rfierir.?. the valu« about i'C ;<>b rx?r ton. on trucWs. at co-JCtrv *tatior.«. tracks fonrd by m:yer«. A little bi*>ine.ss lias be»n done in potAtoen w;t!i tie North I«!and. >.:n. sellers here ore loath to t-tk" !-:e r,rices being offered for deliverv a:ter ; ton, or. Trucks, atcourtry in, ■« about the value for Anrii-M.iv delivery. B'j/ir.ctts »n ;ra«s «eecs. clover and cocksfoot. ft-tsnar.t. the earing of the ir'-omiir.' cror. H»re ar.d ti.cro ir Sc:itb C'a-r.terbnrv oat •~ro~t %~j tow to l>e seen ir. stook, ar.d i little rriin in already in »t«ck. DUNE DIN. ISrFXIAL TO "thk priss.' 7 ) DUN EI) IN. 3. B:i?ice* ir. >i: rcrea: jjr.es is *till practicallv at a as a re«-j! of the hoidj.rs. Tho fat ir.srWel i« quie:. There arc raore oScric; f.-cn the cvizU"., but farmer:

do not ehow any more disposition to eell. Values are unchanged. Prime milling are worth 5s nd to 5s 4i and good to bent Iwi 5a to Ss Id per bushel, sacks extra. There in practically no wheat offering. All suitable jinn* are readily taken up by milers at full Government rates, while fowl wheat is very sc.aroo. and commands a ready Kito at the maximum rates. New potatoes are now offering in larger quant it ien, and meet u ready sale. Locals are worth up to ,Td, and Aucklands 2d per lb. . . The chaff market at present is purely » local ono Bright hcavv oaten is in good demand, and is beinje sold at £7 10s to £7 15e per ton, sacks extra. IXVERCARGILL. (srrriAij to "Tnß,rnES.« ") INVERCARfIILL. Jmiiwt n. Oat*—Tho market is quiet, owinp roainly to tho holidays. Sellers are utilt ven- firm. Buvers, on tho other hand, aro not disposed to offer more than 4« l»d, on trucks, for A grade Gartor-n. There how l«n «onio business offering for forward delivery,. but locnl merchants not liw;n to coll owinfj to tho high price o{ eacka and other factor*. ChaiT—The market firmer, and from £6 to £<i Ss is now offering, on trucks. Potatoes —Tbo season for old potatoes H» over, said it is difficnlt to givo quotations for r.flw, aa business in t.ho meantimo iii practically'all retail. . . Hemp—The London market for high fair has advanced, but it is difficult to eell ordinary fair grade Ilifrh low is worth £29, on tnicks, whilst fair would be difficult to nell at £3fi. on trucks. . BycpraPreparations wo now* bcinp made for cutting tho new season'* crop. Owing to the ehortago of feed, the qusntitv shut off this eeason for seed purposes is not large and as the carry over from J«*t season is not verr great, «v fair demand in anticipated for tho new crop. AUCKLAND. (special to "the tress.") AUCKJ/AND, January 0. L«tc reports confirm the imprnssio'n that the potato crops «-ro turning out badly hs regards quantity. The condition is wy pood as a natural result of Iho fine weather, but the weight is very unsatisfactory. Growers in Pukelcoho advise that their digging la now ncerly over, and the total quantity is so small that higher prices are now being for the balance. Good quality aro firm at 15s ex «tore; and it will hardly be passible to eell many more «t thii rate. Onions—Local *r® gradually falling- in prices on account of increasing siipplies comintr to hand. The quotation is about 30s per cwt., ox store. A few American aro moving off .but' the imported onions ajro no*r almost clearcd. Oats—Tie market i« unchanged ft! <"« fid. ex store, for bost feed. Local supplier .ye ample for 'ho poor demand now coming in. and this giv/*» an easier feeling to tho market than would otherwise b® oonveyod by the high quotation f.o.b. South. Oatmeal—All miller* have now advanced their quotation, and Usin is always taken as a good indication of the ecarcity of firstclaM oat* "Wheat—Fowl wheat continn«i scarco. and the locul qotation is firm at 0» Gd. ex store. Apparentiv tbem «rc ro more sppplies avaiablc in the South, and merchants aro endeavouring to get wheat from Australia, but oo far without rucccsn. Flour—^The demand is only fair. Bran and Pollard—Both ere in good demand. s-nd tiis will probably increase iT the drv wather continue*. Chaff—Canterbury chaff i« ttill selling at £11 10«. ex otore. but local is hard!" offering at nil. A poor crop is reported in both oa;« and hay, and th»re will evidently be vcrv ii'.tio com;ng into <hc market. Maize —Tiio quotation is nominally %s ,V on the wharf, in wholesale lines, hut tl»e prioe, ex store, points to a higher figure being obtainable for the next consignment from Bay o; Plenty. r.ANGIOUA lionsfi FAIR. Ther/» wa« an mtry of liorsw* st tn<; Rangiora sale yo«lcrjv.\ There vhs a kecr. for gooid heavy draughts, but a?fd and :: :e;.or sort* wore slow of sale. Tieet dr.niglit* made iX!O to £42, medium £17 to £*50. ;:irh:cr £10 -io £10 10s. ag«d £t K»s to £3 10«. iiarnMs £li to £10. hacks £1 *<-. £8 H.«, three-year uc'jroken dreu'ilil gcldir;; £Z3. KIRWSi-: STOCK -SAI/K. A: ".hti wtock n!". held yostirrday, there a;: «j!ry of aiiout CM) store and 200 fat sheep. Conii>etit;on keen, and •ii! lots thajigeJ hand* at an .i-lvance on pT;<v-n i,lit,iir.c:l at Addir.gtm last "Wednes(iav. prill* ip.il wore.—TO fat lamns light weigh U.i a' M, ltit tvotooth wct'nere at Jjs ,'*i. 23 at 225. It four;odia at His Jd, 20> two tootii eiro6

C 6«, 18 fit cvr*« at .12* M. 1.1 lit 25*. A* small entry of pigs «"M «t full current values. Wcnuors mafic 2Gs to •'."i. CLEARING SALE. Tho New Zr.ihmcl Farmers' Co-op. Association, Lt*l.. held :i clearing *»li> »t I'°*" r.lifTo on TlmiMliiy, on liehalf of Mr .Slew-art. The principal wlm were: -IS head or cattle £■> to £10 fls. 0 horse* at £n to £30. The etalLion Silver Crown made XI4O. Mr David Kriedlnnder, oij behalf of Mr l. C'. Hoborts, <-ondnctp<l a clearing siie r.t "Conist-on." Aslibtirton. yesterday afternoon, A miscellaneous collation of farm requisites brought big prices. mid wore eagerly bi.l for. An a singlo instance only of the grcjt advance in the pr«aont-day prices <>f agricultural impleincut*. a IMpring t«'*P' r ""d bin'ler which very obviowUy had had n lot of use, was spiritedly, bid for, and brought £51. Drills, ploughs. harrow*. etc., brought eqtiallr high valuer, and the *ho 1« *»» c an object leMion to all those who haw t< CO on to tho land at tl»c present lime. Tlx-ro was this point about the sale, too, that tl>A liuvem of tlm various lot* were both n'»l (many of them pioneers) and freeenwlav farmer*, far-seeing men, who 68,1 R*"P* prottv accurately what farming will mean Ion" before prices will ffet back to pre-war figures, Tho live. Mock offered »«» not "I particularly pood strains of blood, lint the animals wero bought "by m»n who knew tlieir todavs value, and whit their values will be for nt least tho next three years. About tho e.h«apc*t animal fold was a particularly finely brr-1 grey Mersey cow (hor colour wm against hor). and eh« went though in fi.ll profit, for XI4 10? (sho would have brought £IC> at the Tinwald or Ashburton weexly sal/vO. A halfbred I-Vietian cow in profit and in calf brought XIR. A big Hereford cow in profit and in ealf. and sho was bv no mean* a typical Hereford. brought /17 5* Fortv Corriedale two and throe ••near owns brought. SOs 7d, 21 Corriedalo ewe hog. r*ta 7(w, and 22 two-shear liincoln Tama £<* fid. Good useful farm horsca eold up to £17.