COMMERCIAL.

Press, Volume LVI, Issue 16857, 10 June 1920, Page 8

COMMERCIAL.

- PETALS. (Br Cable—Press AEsociaiica—Ccpyrijht.) | (Australian anvi N.Z. Cable , (Received June 9th, 7.30 p.m.) LONDON*, June 8. I The fall in the prico of silver is due to j heavy liquidation from tie United States. I SHAKES. I (Received June Dili, 7.30 p.m.) j LONDON. Juno 3. I Dalp'r and Co., Ltd. —£10 12s Cd. j lond6n wool sales. ! (Received June 9th. 7.30 p.m.) j LONDON, Juno 8. . At the wool sales merino 3 and fine cross--1 breds "Afre unchanged. Thero were heavy withdrawals in inferior quality offerings. "Gear" wool made -led per lb, HIGH COMMISSIONER'S CABLE. Tho Department of Agriculture has received the loliowing cabic-rrams frem London, dated Jur.o 2nd and sth respective!;.", from tl:o Hi;h Camixiission-:T for New Zealand : — Tho thirteenth series of Government wool sales comrnenevd on Monday afternoon. Thero wec <v fair attendance of buyers, but competition vra-s hesitating (mutilated word)., Thero was an unsatisfactory ' demand. It has been decided to restrict ir.o length of , this earies to a fortnight. Compared with the closing: ratefi of last ecries, prices are lower —merinos 15 per cent, to 20 per cent., fine 10 per cent, to 15 per cent. Coarse is not represented. So Lit 150,000 bolc3 of shorn wools arc available for the ! series, 34,500 of which aro New Zealand. Putter. —There is no change in the price for Government controlled butter. English butter is plentiful, and is selling steadily'at an average prjco of _2s 10Ad per lb. Irish supplies axe increasing, and there ia a ctelnand for good creamery at £14 to £14 ISa 8d per cwt. Cheese.—Supplies? are increasing-, with fair enquiry for English at le 7d to Is 9d. Tho Canadian market is easier. Current, quotations, c.i.f., aro £8 Is to £S 3s, but the "price is considered too high by the trade for largo buying. New Zealand stock cn'June -Ith amounted to 2083 crates, as agtinst 43,126 at this time last year. Wool.—At the sales crosabxeds aro selling slowly, the Goveimnsr.u limit being considered too high in many for New Zealand crossbreds, and a large proportion was withdrawn, buyers oaji mirchcse a similar description from tho Argentina at relatively lower prices. Hon-y.—The demand is improving 1 , and prices are firmer. At this week\» public sab New Zealand 15 grade realised 95s par cwt, and C trra/lo 85s. Hconp.—The Manila market is dull and declining. J grade, February-April to AprilJune shipments, in now Quoted at £61. JulySeptembar shipment sold at £G4 ss. The New Z-r.land market is very dull, and there is no chants in price? except that high' noiiit spat is iid-.v qupted at £SS. IiTTTELTON" STOBES PULL. JJATtBOTJR BOARD REFUSING I'URTHER CONSIGNMENTS. T3» shortage of shipping space ia the coastal and intercolonial trade liaa been causing congestion at Lyltelton for some weeks past, .and Las had the offset of filling up the Lytfrelton stores with grain and produce much earlier than is usual. There is also an ncuto shortage of railway waggon-3. *The JiavbouT Board's are now f*ill and the Board is refusing further consign! ments until the position is relieved by shipments. Consignors are advised to communicate with the Board before forwardingoods. , °

1 CONGESTION I3ST FEBEZIKfOWOKKS. SUGGESTION FOR RELIEF. r (SPECIAL TO "THE PRESS.") AUCKLAND, June 9. A suggestion for easing the congestion in tho freezing works of the Dominion and im- , pro " n - P ro "P&=fa of placing next mason's meat output on tho Homo markets, was di.-'-oussed to-day by tho Provincial Executive a* the i armors 0 niou. • ] »i, } V '' son " eai d it ""as common knowledge that there was a groat deal of heavy w mutton stored in the Dominion, the bulk or which was unsuitable for tho Homo market. Ha was convinced that it won.-J bo sound policy to have this mutton bolted down m tho Dominion, imrtead of sending it Home. By this mean*, he felt, sure, no loss would be cu stained by the Imperial Government, as etorage chare** aw? shipping freights would bo saved. Th© advantages to the Dominion were obvious. ' A groat amount of storage cpaco wotil-1 lv» t'nmmin Cient pro^bly to 3.000 000 carcases, nnd n great" deal of unsuitable hm, would bo prevented from s°'jJ k? the Homo market. Ho had already discussed the. matter with the Prime Minister, and ho behsved that good resultlmglrt be obtained if the exoctftiv© ondoreod tho schcmc. ♦ 2airl th ' 9 suggestion was th best he had hoard propounded ill ihe in frosts of fho prcihic^rs. Tho executive deeided to place i,he proposa] before- the proper authorities. THE BOOT StTPPLT. (SPECIAL TO "TOE tress.") WELLINGTON, Juno R Aew Zealand boot manufacturers aimar. ently are still unable to supply the Dominion with tho footwear it requires. The importations of boots and shoes th^ ooonn f mont,!3 amo " n * no fewer °than 39,000 dozen pairs. $ Of this number Aus•,w eca i S 2 ' 000 dozen pairs, notto a be'p!id y injP ° rt duty thut PRICES FOR STOCK. (SPECIAL TO "THE PEESS.") , f , DUNE DIN, June 9. . Many buyers at the weekly sale at Burnfiid© to-day were of the opinion that Mock will show a decline 111 pficcs next month. tW TT" M bnße ? ■"'! U,e "Mouncement that tho Govommant intend to .-ease m .v, St ° Ck f ° r eXP ° rt T ' IUT ° SM f,ora AUCKLAND HIDE SALES. (SPECIAL TO "THE TRESS.") m W , ~ ... AUCKLAND, Juno 9. f.tas woeks hide, sales vera marked by r aiaanct disinclination on tho part cf buvc-<= to operate on account of the recent drop in , Australian markets, consequently the bidding wag spiritless, and most of the cataj lognea submitted were passed in. the actual sales being very small. The result of t'i~ decreased demand was that tho few fill ] w made were on a basis of reduced prieos. The decline all round averaged about''3d per lb BUTTER PRICED. (PEESS ASSOCIATION TELECItAM.) m, . . AUCKLAND, June 0. The Provincial Executive of the Farmers' Union resolved to protest emphatically against tho Government placing requisitioned butter on lae .market at a price conaiderbly iess than the cost of production. It was added that this nractice, if persisted in, would warrant the forfeiture of tno conudence of the f&nuirtg community in tne Government." THE HONEY CROP. rite Director of the Horticulture Division of the Department of Agriculture has received front the apinry instructors the followtT reports concerning the honey crop pzospects:— Cliristchurch and Dunedm.—Tho market is firm far ail lines. Largo consignments crc now arriving at ~ho grade stores for export. - Now that tho petrol tins have been discarded, the packages present a much more attractive appearance. Generally, beekeepers ara recognising that new tins are lec-3 costly to handle. Bulk honey is quoted ct B£:3. and is in strong demand; scction honey, "choice, 10s to 123 per dozen; ten-pound tins, to Es 6d; pat honey is coming forward, but it .13 in short supply. Beeswax is scarce, and is quoted at 2s 3d to £3 6d per lb. CEMENT SUPPLIES. The following talegram from the Prima Minister was received by Mr P. R. Climie, organiser of the Canterbury Progress League:—"Referring further to my telegram of June 3+h regarding c<-m~nt *mp-nn-3?, I am informed that tho Board cf Trade has re-

quested tho Milbum Company to supply a i bigger proportion of their outpxit to Christ- i r.hnrch than it has supplied during the last few The Board is aloo arranging a shipment of Golden Bay oem?nt to church, which, should relievo lie position somewhat." WAIKARI ESTATE SALE. Tho proporty, consisting of 740 acres, at Park View, Waikari, and known us tlie \Vaikari Estate, was submitted to auctimi yesterday by H. Matson and Co. and Pyne, Gould, Guinness, Ltd., at the offices of tho former firm. Thero wag large attendance of buyers, but only'two lots wore disposed of. The terms were 10 per cent, on fall of tho hammer, 10 per cent, on possession, and the balance at five years at 5i per ejnt. The detaila were as below: — Lot I—S3 acres, sold at £66 an acre to Mr J. Johnston, Chaney's. Lot 2—39 acres, sold at £SS 10s an acre to Mr E. P. Honey bo no, "Waikari. • Lot 3—34 acres, passed at £50 ml acre. Lot 4—Go ecres, paired at £45 an acre. Lot 5—117 acres, passed at £35 an acre. Lot li—lo3 acres, passed at £45 an acre. Lot 7—91 acres, pas;ed at £43 an acre. Lot 6—123 acres, including the homestead block, passed at £71 an acre. Lot &—72 acres, passed at £50 an acre. BURNSIDE MARKET. (FRES3 , ASSOCIATION TELEGRAM.) DUNEDIN, June 9. Tliero were large entries o; in all departments at Burnside to-day, and tho prices realised were well up t*o late quotations, especially in the case of pigs. The fat cattle sale opened at an advance of 20s to 25s par head <m last week's rates, but towards tho finish prices eased fully 2Cs per head. TEMUKA STOCK SALE. There v-.~s a medium entry of fat theop at the Temuka, stock eulo on Tuesday, and a small yarding of stores. The demand for fats was rather slack. Primo fat cattlo sold well, but other classes were dull of sale. The range of values was:—Pat ewes 1&3 6d to 325, fat wcthcra 2!js 7d to SSs, lambs 22a to 30s Gd, fat cows £S to £14 10s, steers £11 to £12 3s, heifera £7 10s, dairy cotvs £6 12s 6d to £9 2s Cd, heifers £3 17s 6d to, £9 lCi>, springing cows' £12 129 Cd to £15 10s, weaner pigs i? 6 &l to 273, ! stores 33s Gd to 595, baconers* £3 12s to £1 15s. ' COST OF 'CLOTHING. NO IMMEDIATE REDUCTION. Tho latest ndvioe from England with regard to tho cost of clothing does not confirm In-© anticipation held in some quarters thai the pinnacle has b=en reached, and that the fall which has taken place lately, in America, and England will be reflected in local conditions (states tho Aucldand correspondent of tho Uaily Times"). The head of a leading drapery firm stated that immediately following the announcement of a induction in the retail prices at Homo he had cabled to 'their London house, from whom the reply had been received: "No immediate prospect of decline, adviso caution." As an indication of the position with regard to cotton, ho mentioned that his firm received some ihroe weeks ago a consignment of cotton "ticking' for mattresses, landed at- 2s 6d per yard. He had immediately cnblcd back an enquiry as to when and at what price a large quantity could be delivered, and had received a reply that the price at mills was then 3s Gd per yard, and ; that no delivery could be tnado until July. j

Tho mana-jrer of a large wholesale house stated that on May 27th he had fient a cablo.rrarn astir.? his firm's London buyera to r.clviso weekly regarding any freah development in the market conditions with reeurd to cotton and woollens, -whether fashion luxvries were affected, and whether the retail and wholesale business was suffering as a general fall in the Home marks's was reported in tho "Dominion on MAv 2Sth. A reply was received stating that the wholesale and retail tracks l was somewhat quiet, but there was no fall in manufacturers' prices in any •V-artmont, end none wra expected. This, the maracrer stated, indicated that the reduction was in thor»t<<il p-i"e*» onlv. TVi«- manufacturers were fully hooked with Home and "snort order? for the remainder of this year, p-nd'prices with regard to certain gooda were still firm. CHUISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS.

AUCKLAND. Sales reported:—'Bank of New Zealand, £25 7>j .Cd; N.Z. Insurance, 34s Cd; !•>'.Z. Loin (1&C8), £35 15c. DUOTDIN. Sale on 'Chacre:—'Wcstport-Stcckton (or<3.), S* 7d. Sales reported:—Huddart-Parter, 52s 3d.

Buyers. Sellers.. £ a. d. £ a. d. DEBENTtTRES— . N.«i. Govt. 4£ per ccmt. Inscribed, 193o .. — DC 10 0 BANKS— Australasia (fractions) 17 0 0 — INSURANCE— Now Zealand .. 1 14 0 1 14 9 LOAN AND AGENCY— National Mortgage .. — G 10 0 N.Z. Loan and Mercantile (ord. stk.), cum ■ ' ' div. .. .. — 110 0 0 SHIPPING— Huddart-Parker ■ — * 2 13 3 Huddart-Parker (6 per cont. cum pref.) .. 1 0 S 110 FROZEN MEAT— N.Z. Refrigerating (£1 paid) .. .. — 2 0 0 N.Z. Refrigerating (10s paid) .. *• 1 5 C 1 C £! GAS— Timaru ... ... G 10 0 — WVllinston .. .. 10 8 0 — BREWERIES— ■ Ward .. .. — 1,7 G MISCELI^NEOTJS— BcatJi and Co. (Old) .. — 1 16 0 Burns, Philp (Sydney) riglita .. .. 0 17 6 10 0 Ca.nt- Farmers' Co-op. (Timaru) .. .. 2 16 0 — Mason, Strutlicrs (14s pa.:d) .. ». 0 13 G ' — N.Z. Farmers' Co-op. (£2 paid) .. .. — 2 10 0 N.Z. Farmers' Co-op. (C . ' per cent. prof, i© div. . oiilv) .. — 5 0 0 N.Z. Sugur of Milk — 0 4 0 WhH r ombe and Tombs 3 1C 0 — MINING— Talismaa .. .. — 0 8 0