COMMERCIAL.

Press, Volume LVII, Issue 17111, 5 April 1921, Page 7

COMMERCIAL.

N.Z. WOOL REALISATION. NEGOTIATIONS REGARDING DISPOSAL. (special to "tiib PRESS.") WELLINGTON, April 4.

The representatives of the Government and of the producers are losing no time in giving effect to the decisions of the Producers' Conference held in Wellington last week with regard to wool. Negotiations are being opened with the British Government, the Bri-tish-Australian Wool Realisation Association, and the British Wool Importers' Association, on the lines suggested by the Conference—that is, to provide for the limitation of offerings of New Zealand wool to correspond with the monthly consumptive demand. This means." in that New Zealand is to fall into line with the operations of the British-Australian Wool Realisation Association. The conference Bnggested that a fullyaccreditod representative should be sent to Melbourne at once, to confer with the Australian directors of the Association, and it is likelv that this representative will leave New Zealand within the next few days. The fixing of minimum reserves will be undertaken after the negotiations with the British-Australian Wool Realisation Association have produced an effective arrangement. The Government was asked by the Conference to prohibit m the meantime private sales as well as auction sales of wool in New Zealand. The Government has power to prohibit privato sales, but it may not think action necessary in view of the condition of the wool market. The suspension of auction sales has already been arranged by the woolbrokers.

PRICE OF MEAT IN SOUTH CANTERBURY. CONSUMERS' PROTEST. (snoiAL TO "the press.") TIMARU, April i. There has been a great deal of discontent, recently in South Canterbury regarding the prices of meat, which ore higher than in many other parts of the country. At the Pleasant Pointstock sale- to-day the residents of that part of the district were puzzled at the discrepancy between the price of tin* stock sold tinder the hammer and the retail price over tlho counter. They refused to accept the explanation that hides, skins, and fat were unsaleable. It was also agreed that the increase in wages did not represent n charge of, anything from 3d to Od per lb. Mr T. B. Burnett, M.P, for Temuka, who attended the Pleasant Point sale to-day, 6ent the following telegram to the Hon. E. P. Lee, President of tlh> Board of Trade: "Would draw your attention, as President of t'Jm Board of Trade, to the fact that meat consumers require protection from excessive retail charges for meat. At stock enlo to-day at Pleasant Point, one of Canterbury's most important stock centres, ewe mutton was selling at under 2d, and best wethers at 3d per lb. These prices have been general" for the past month, yet retail' prices in Pleasant Point township to-day are 8d for legs, 8d for chops, and 5d for forequarter-i. These prices are the 6nme as they wero twelve months ago, when fat ewes sold from 28s to 30s. Steps are urgently necessary to protect the public.

CHEESE. 95,000 ORATES IN WELLINGTON STORES. Someone eats a lot of cheese, but the average New Zealand family pays little attention to cheese as a regular item of diet. There is undeniable proof of. the vast amount of cheese manufactured in New Zealand —and eaten in the Old Country—at the Wellington Harbour Board's cheese stores near the Glaßgow Wharf. There are three floors in the main shed, and a temporary and fairly efficient cool store erected during the war period, and stacked up in those buildings are 95,000 crates of prime New Zealand cheese awaiting shipment. That great 'stack of cheese does not ropresent New Zealand's output (says the "Post"), for it was produced mainly in the Manawatu, the Wairarapa, and Hawke's Bay, cheese from north of Wanganui and Napier being shipped from northern ports, and and little South Island cheese finding its way to Wellington. Nor do 95,000 crates represent the -season's output for the three districts named, but is roughly the output for the four months following the first flush of the season. The cheese season commences about September, and runs on till May ) ( r June, and the total number of crates rcceived-in the Wellington stores from September till the present time is, in round figures,- 173,3-50. During those months some 78,000 crates havo been shipped'away, leaving 95,000 odd crates in store. On account of shipping difficulties during the war period it ,\raa found necessary to erect temporary storage 'space for 50.000 crates, and without that additional space, the Harbour Board would have been in difficulties again this season, for the whole storage space has been taken up sinco the first big consignments came to hand.

Ninety-five thousand crates of cheese at 160 pounds to the crate work's out at, roughly, 6785 tons, a very considerable meal for any country, _ and the value on the basis of one shilling per pound is £670,000.

NEW ZEALAND JAMS. TRADE OPENING ON PACIFIC SLOPE. "New Zealand and Australian jams are much superior to those manufactured in California, and are recognised as such," remarked a New Zealander who has just returned from a two years' sojourn in the States, in conversation with a "Dominion" reporter on Friday. "They are," he added, "much sought after by jam-eaters in California, but the New Zealand brands are hard to obtain. A Californian fruit-broker made enquiries in the Dominion with the object of placing an order for 14,000 cases for early delivery, but all he could rake up was one lot of 400 cases. The moral is obvious —New Zealand is not making the most of trade openings on the Pacific Slope." The foregoing remarks were brought under the notico of an officer of the Agricultural Department, who pointed out that the people in the Western States of America" were not great jameaters. Nevertheless there were sufficiently large numbers of jam consumers in the West to make the export of jams from both New Zealand and Australia a profitable trade. Just now there wa* an obstacle in the way of New Zealand manufacturers in the shape of the temporarv embargo placed on the export of jam from the Dominion. This measure was nut into force on account of the recent sugar shortage in the Dominion, and as far as he knew it had not vet been revoked. Once this prohibition was removed he saw no reason why arrangements oould not be entered

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into with a view to establishing an export- trade in New Zealand jams. The Californians did not, he added, go in for jam-making on any appreciable scale. The Westerners were terribly frightened of appendicitis, and were inclined to fight shy of anything with seeds in it. They would eat jellies ad lib., however. This prejudice was gradually being broken down. Kecognising this fact, the Jones Jam Manufacturing Company of Tasmania —with branches established throughout Australia—was making a big bid for the Californian market, and had gone to the length of carrying the war into the enemy's camp and establishing branch works in California.

WHEAT FOR GERMANY. THE AUSTRALIAN SALES. VBv Cable—lress Association—Copyright.) (Auetralian and N.Z. Cable Association.) MELBOTTRNE, April 4. Mr Tudor, Leader of the Labour £axty in the Federal Parliament, intends to raise in Parliament the question of the sale of wheat to Germany. He' stated that he has been informed •that the quantity sold ran to millions of bushels, the bulk at 7s 9d,. and the balance at 7s 6d f.o.b. The Prime Minister, Mr W.. M. Hughes has been adversely criticised over the sales after the 3tand he maintained against a resumption of trade with Germany. He states that the sales were carried out through the Wheat Board, and were not made by th*e Government, and the sale of gooda to Germany ,is a different matter from puchasing her goods, Ho which he is still opposed. . , Reviewing the wheat position generally, Mr Hughes stated that the greater part of the 100,000,000 bushels of ex : portable wheat had been sold at 9s 3d, while the price fixed for home consumption was 9s per bushel. SYDNEY. April 4. The Minister of Agriculture (Hon. W. F. Dunn) stated that of three sales of wheat made to Germany, two were at 10s a bushel, f.0.b., and one at &j 6d c.i.f.

.PREFERENCE FOR INDIAN TEA.

DELHI, April 1. Jn response to representations made by the Indian and Ceylon Tea Association in favour of asking the Australian Government to give preference to In-

: Bad Times are coming this Winter! - J S*t« tie n*3ey ih would «pe» i •■ * aew ndt L 1 n cwtam by kiriic it darned ud preued ud. mmtti fcr ear aetata prociw. it will Wok. .Nt like new. \ 'C TAYLOR & CO.~ 25 Victoria St. fc' 1 TBB6B-3618 'Phone 2538

dian and Ceylon teas, the .Government States that the question of reciprocal treatment of Australian, goods is involved. The whole question of the adherence by India to a scheme of Imperial preference will be considered by a Commission which wiU sit during the coming cold season. The Indian Government is not at liberty to open negotiations with the Commonwealth. BUTTER. AND CHEESE PRICES. /By Cable—Press Association— Copyright J (Australian and N.Z. Cable Association.) BRISBANE, April 4. The Government has- cancelled the older* fixing the prices of.butter and cheese. The price of butter thereupon was reduced, by 4Jd a, pound. A reduction of 2d a pound in cheese is anticipated. SYDNEY WOOL SALES POSTPONED. (Received April sth, 1.20 ajn.) v SYDNEY, April 4. Owing to the limited demand for wool, the National 'Wool Council has postponed the Sydney sales indefinitely.

DOMINION MANUFACTURES. SPLIT IN ASSOCIATION. The Dunedin branch of the New Zealand Manufacturers' Association has withdrawn from the Association, the reason given, it » stated, being that other branches permit business people other than manufacturers to become members of their organisation. This decision was arrived at subsequent to the New Zealand conference, held in Auclfland recently, and-came as.a great surprise to the other provincial Associations (says the Auckland "Herald"). No hint of uny dissatisfaction among the members of the Dunedin Association was given by its delegates to the conference. Referring to this matter on Thursday, a prominent member of the Auckland Association said it was regretted that there should be any cleavage in the ranks of the Association at a time when manufacturers had succeeded in getting Government recognition of the secondary industries of the country. It was the intention of the New Zealand executive to make representations to the Dunedin Association with a iviett to inducing it to continue its membership of the Dominion body. It was essential that all the manufacturers should pull together at the present time, in order that the pubjio might be induced to give preference to locally-made goods. This was the only way to &)rild up the manufacturing industries of New Zealand. '

DREDGING ON WEST COAST. (PEESS ASSOCIATION TELEGRAM.) HOKITIKA, April i,

Tho Bimu Gold Dredging Co.s pontoon was successfully floated this afternoon in the presence of a large assemblage. The pontoon, which wfll carry the. largest dredge yet erected in the Dominion, re 110 feet long SO feet broad, and 10 feet 8 inches deep. Its location is Rimu Fla*. on the oite of tho former dredge, which was forced to disconc tinuo operations owinjj to the heavy nature of the ground. The present dredge will be of a powerful nature and will be electrically driven, the power being derived from Kanieri Lake. The work of erecting the machinery is now being pushed on as. erpsditiously aa possible, a large staff being employed. A large .area of auriferous ground is to do worked.

BOATMAN'S CONSOLIDATED. The mine manager of Boatman's Consolidated Gold Mines, Ltd., reports as follows for the month ending March 31st last:—The reef, which is still being driven on, haa straightened up a good deal and is more regular, showing every promise of making bigger aa it goes north. Values still good'. ASHBURTON~EWE fair. The annual Ewe Fair wa.s held at the Tinwald yards yesterday, when there .was a total entry of just on 28,000, including a number cf lines from Hakataramea, and aa far south as Wtukouaiti. Following the order of last year, the Ewe Fair was held at the Tinwald yards, and the Earn Fair will be held at the Ashburton yards tomorrow. The entry yesterday was comprised mostly of half and three-quarterbreds. There was a very iarsje attendance, and though bidding was fairly spirited, owners' values in a large number of instances were not reached, and a- large number of linos were passed in. There was an all round drop of about 4s per head, as compared with the prices realised p.t Addington a fortnight ago. Mr G. H. Ml; of Willowby, topped the market with 25s for a line of 84 LincolnMerino cross two-tooths, and 25s 6d for a line of 82 four-tooth English Leicester-Mer-ino cross eweß.

The principal sales were: —520 halfbred at 12s 3d, 100 four, six, and eight-tooth at 9s 9d, 100 at 9a Hi, 100 nt 93 Bd, 70 at 9s 4d, 438 sound-mouth halfbreds at lis 4d, "670 at 10s 7d, 234 two-tooth halfbreds at 13s fid, 171 six-tooth crosebreds at 14s 3d, 70 failing-mouth halfbreds at 6a" 3d, 153 twotooth ciOEsbreds at lis 9d, 227 full and fail-ing-mouth halfbreds at 6s 3d, 120 two-tooth crossbreds at 12s 6d, 86 two-tooth LincolnMerino crosses ait 255, 82 four-tooth English Leicester Merino crosses at 25s Gd, 55 two-tooth crossbreds at 6s 6d, 108 full and

failing-mouth halfbreds at "a Id, 144 four and six-tooth three-quqarterbreds at 12s, 125 two-tooth three-quarterbreds at 10s Id, 36 four-tooth halfbreds at 18s Id, 61 full and failiug-mouth three-quarterbreds at 4s, 73 two-tooths at "s 9d, 92 6ix and eight-tooth crossbreds at lis 6d, 124 full and failingmouth halfbreds at 5s- Id. 143 four and -sistooth halfbred3 at 8s 6d, 161 sis-tooth halfbreds at 10s 3d, 292 four-tooth three-quar-terbreds at> 18s 6d, 267 sound-mouth halfbreds at 103, 500 sound-mouth halfbreds at 13s, 151 two-tooth crossbreds at 10s 9d, 123 two-to'.th throo-quartorbrcds at 10s, 220 fourtooth halfbreds at 17s 144 two-tooth and 21 fix-tooth halfbreds at 12s 6d, 121 LincolnMerino cross ewe lambs at 15s 6d, 100 six fid eight-tooth halfbred ewes at 15s, 911 S lis 2d, 115 four and six-tooth three- quar-terbred-s at 17s 10d. 200 full and failingmcuth three-quarterbreds at 2s, 202 four and rix-iooth three-quarterbreds at 12s 6d, 200 six and eight-tooth three-quarterbreds at 10s 2d 234 six and eight-tooth halfbTeds at 12s 3d,' 9 four, six, and eight-tooth three-quaqrter-breds at 133, 121 four, six, and eight-tooth thr?e-quarterbreds at 16=, 99 sound-mouth halibrods at 9s Id 138 two-tooth three-quar-terbreds at 12s 3d, S2 sound-mouth halfbreds at 9s 9d, 123 two-tooth three-quarterbreds at 163 6d, 132 six and eight-tooth crossbreds at £s 7d 202 two-tooth halfbreds at 15s, 57 two-tooth'three-quarterbreds ftt 15s Bd, 100 soundmouth three-quarterbreds at 7s, 100 at 6s 6d 100 at 6s, 100 four and sis-tooth halfbreds at lis Id, 127 at lis Id, 346 six and eight-tooth three-quarterbreds at 9s 7d, 150 two-tooth three-quarterbreds at 14e lOd, 102 at 14s.

CHRISTCHUBCH STOCK EXCHANGE. Latest quotations:— Buyers. Sellers. £ •. d. * •. d. DEBENTURES— N.Z. Govt. 5 per cent. Bonds, 1927 .. 87 0 0 N.Z. Govt. 5i per cent. lose., 1933 •• 89 0 0 89 0 0 N.Z. Govt. 5i per cent. Bonds, 1933 .. 89 0 0 BANKS- „ ■ . National of N.Z. .. Now Zealand .• 2 3 6 Union of Australia .. 11 2 6 11 10 0 INSURANCE— National .. •• 214 0 New Zealand -.149 —« Standard .. ..236 LOAN AND AGENCY— Goldsbraugh Mart (Melb.) FROZEN MEAT— Canterbury •• N.Z. Refrigerating (£1 paid) .. •• N.Z. .Eefrag«ratjng (10s paid) .. 014 9 COAL—- . Westport-Stocltton. (8 per cent, non-cum pref.) 0 10 0 "WOOLLENS— Kaiapoi (£1 paid) .. MISCELLANEOUS— Beath and Co. .. Cant. Publishing Co. .. Colonial Sugar (Fiji and N.Z. 6 percent, pref.) .■ N.Z. Drug Co. (cumdiv.) N.Z. Farmers' Co-op. (£2 paid) .. Whitoombe and Tombs MINING— Ml Lyell .. .. 013 6

DUNEDIN STOCK EXCHANGE. (PRESS ASSOCIATION TELEGRAM. 1 DUNEDIN, April 4. Quotations— Rising- Sun, sellers 7a 6d; Kiss and Shine, sellers 8s 6d; Talisman Consolidated, buyers 3s 9d, sellers 5s 9rt; Waihi, buyers 275, sellers 293. 3d; Mount Lyell, buyers 12a 6d, sellers- 13s; Bank of New Zealand, buyers 445; Union Bank, buyers £ll ss, sellers £ll National Insurance, sailers 5Gs 9d; New Zealand Insurance, buyers 24s 6d; P. and 0. (Deferred), buyers £316, eellens £336; Union Steam (pref.), sellers 19s; Huddart-Parker (ord.), buyers 41s 9d, sellers 42s 3d; Westport Coal, sellers 28s; Westport-Stockton (ord.), sellers 6s 6d; D.I.C. (pref.), sellers 19s 9d; Goldsbrough. Mort, sellers 30s 6d; Loan and Mercantile, sellers £88; Wright, Stephenson (oid.), sellers 35s 6d; Wright, Stephenson (pxef.), sellers 17s 6d; Dominion Rubber, sellers 20s; Dunlop Rubber, buyers 20s; Dunedin-Kaikorai Trams, sellers 255; Gear Meat Co. (ord.),, sellers Sss; New Zealand Refrigerating (20b paid), sellers 35s 9d; New Zealand Refrigerating Co. (10s paid), buyers 14s Id, sellers 16s Id; South Otago Freezing, sellers £5; ißruce Woollen, buyers 395; Mosgiel Woollen, sellers 108 a; New Zealand Paper Mills, sellers 28s 3d; New Zealand Drug (40* paid), sellers 69s (cum div.); New Zealand Hardware (ord.), sellers 16s; N.Z. Hardware (pref.), buyers 14s 6d; Milburn Lime and Cement, sellers 80s 9d; Trustees Executors, sellers 625; GovtJ Wot Bonds, 1930, buyers £B4; War Bonds, 1938, sellers £3O , 10s; War Bonds, 1939, sellers £3O 10s; Inscribed Stock, sellers £BO 10s; Soldiers' Settlement Bonds, buyers £B9; Soldiers' Settlement Bonds (inscribed), buyers £B9.

Sales—Soldiers' Bonds, £B9 (three). AUCKLAND, April 4. Sale—Soldiers' Loan, £B9. Sale —New Zealand Insura-nce, 24s 6&.