COMMERCIAL.

Press, Volume LVII, Issue 17155, 26 May 1921, Page 7

COMMERCIAL.

1 . FROZEN MEAT. UNITED STATES AS A MARKET. IMPORTATIONS NOT WANTED. (from otrn owx cokk£si-onih:nt.) LONDON. April 7. Mr H. E. Fairwenther, London representative of the Wellington Farmers' Meat Company, has just returned from a trip to tho United States, where lio spent some time at Philadelphia, "Washington, Chicago, and Boston. Tho primary object of his visit was to mako enquiries regarding the possibility of disposing ot New Zealand lroczinp; works produce on a satisfactory basis. Though he had an interesting and enjoyable time during the brier intervals ho could spare from business, he brought bactt no good news of theUnited States aa a future market for tho Dominion producers. It is obvious that tho country is Buffering from the same trade sickness whLh is prevalent throughout the rest of tho world. Mr Fnirwcather was struck with tho sight of idlo freight trains and tho numbers of vessels laid up for want of cargoes. Tho high exchange rate of tho dollar is evidently no great benefit to the country, for other nations cannot afford to buy from America, and the export trado >* practically at a standstill. Prices are coming down, however, and naturally in the general decline tho price of meat is getting back to a more normal level. It will be remembered that America bought over a million carcases of New Zealand lamb and mutton from tho British Government. This was bought at a timo when tho home-grown articlo wna scarce. A certain quantity of it was sold at very high prices, and, incidentally, charges of profiteering woro brought against a number of prominent meat companies. The home supply quickly recovered, and prices went . down, with tho result that almost a million of those carcases from Now Zealand found their way on to tho London markets. What is still in America, m being sort at a loss. American-grown mutton is sold on an average of 8d per lb. and the New Zealand meat for which Bcl per lb f.o.b. was' paid, is being disposed of at 15 centSj or less than Bd. There is evidently quite enough locallygrown mutton to meet tho full demand of the country, and that at a price which makes it impossible for tho frozen article to compete with it. 1 'TARIFF EMBARGO: President Harding is doubtless tho friend of the farmer, and should there bo any further attempt to import frozen meat' into the country a protective tariff will soon rJlake it an. utterly unprofitable business for At a' recent meeting of tho United States Cabinet serious concern was shown over the economio situation. That tho , farmers in many parts of the country • face ruin was stressed the meeting, and it was the general opinion thatimmediate relief was necessary. American producers of meats, wool, and other agricultural supplies, it was explained, find that they cannot dispose of their surplus, because of the lack of buying power abroad, and at the same time they cannot dispose of their < SurpjuH without great loss in competition witn foreign producers. The Cabinet was told that 100,000 tons of wool were en route to the country, where the wool producers were unable to sell their product without heavy loss. Members of the Cabinet seemeflto bo in favour of an embargo on tho importation of agricultural products, authority to Impose which is .given to tho Executive under the provisions of the war-time Trading with the Enemy Act. The President himself is. hv favour of tariff protection for agricultural prtf. ducts, with the object of making the United States self-sustaining, In these circumstances. tl}e for the disposal of Now Zealand products in America are not. racouragtng PRODUCERS' SHIPPING LINE. (PRESS ASSOCIATION TEMGBAMB.) WELLINGTON. May 25. Regarding the scheme adopted ot ft recent meeting of the Producers' Committee respecting the.establishment of a producers' line of steamers, tho details were unfolded to the Acting-OPrime Minister, who said he would lay the, , soheroe before Cabinet. Sir Francis Bell Btutcd to-day that the scheme had not yet been considered by Cabinet, but it would be as soon as possible. It would require a full Cabinet to deal ' with 3 uch a matter, r NELSON, May 25. The Farmers' Provincial Conference i passed a resolution favouring the speedy formation of a producers? '. shipping line, assisted by a State subsidy.

allied Debt to America. * A CONVERSION SCHEME. (By Ctbl«-Pr«is Aasociation—Copyrj«k».) (Australian and N.-. Cabla Association.) WASHINGTON, May 24. The authorities have explained thn( the Administration plans to convert thd Allies' war debts to fhe United States directly into the hands of the American people. It is proposed to replaca Liberty Bonds as they mature by bond* of foreign Governments owing to tht United States. METALS. (By CabU—Press Association—Copyright.) (Australian and N.fc. cable Association.) (Received May 26th, 10.10 p m.) LONDON. May 24. Copper—Spot £7* 1* Sd, forwaid ill UJA. Tin-Spot £lßl 3a 6d, forward £lßl 12i Id. . FOREIGN EXCHANGE RATES. LONDON, May 24. Par. Hay 10. May 24. ParU (fr.) .. 28.222 46.57 47.00 Clirkrtiania (kr.) .. 18.169 26.25 25.1 l frtocktiolm (kr.) .. 18.169 16 M 18.97 Montreal (dol.) .. 4.86 4.46 4.46 Now York (dol.) .. 4.88 4.00J 8.08 Yokohama (yen) .. 24» 28jd 28Jd Hong K<hi* (dol.) .. BS3| Md »W Berlin (mark) .. 24.43 241 242 Calcutta (rp».) 10 to gold tar. 16id 15»d AUSTRALIAN WHEAT PRICE. MELBOURNE, May 25. The Wheat Board has inoreaaed the price of wliest for gristing into flour for raport to Africa, the Pacific, and New Zealand from 7s to 7b 6d, the reason being that, owing to the •Jeterioration of the wheat crop* in tbo United Ststea, the market baa advanced sharply there. The Australian piioe haa now been brought into line with the An* ruun quotations. WHEAT THRESHING RETtJRNS. The Wheat Controller furnishes the following return for the period ended May 23rd : Threshing returns received to dat*, 5 5(16,770 bushels. Contracts to purchase—Good milling, 3,610,519 bushels, fowl wheat 89,420 butbela. Amounts paid to fanners through Government brokers £1,088,885 lOf, i«pre«ensin| 2,696,337 Vushels. SALE OP PEDIGREE FRIESIAN HERD. (PBESS ASSOCIATION TELEGIiAJI.) INVEBCARGUUL, May 25. The record average price of £7O was /cade at to-day'* Jiap;re-al talo of Mr C. K. Robertson's pifJLree Fricaian herd. Contrary to anticipations, Au»tra3iin buyr-ra were nol represented, but)there wm alanje contours* of -North lstar/J'breeders. Pncas were remarkubly ccneifttnt throughout. The too pric*. wtis 150 goiine;is, paid by Mf-Mts NqrtE iind Sons for a cow ot' iinpoitcd breeding The eorn» buyers paid 100 guinea* for hei four months oM colt. Mr John Donald (Wanfjanui) paid the top piico obtained fo| heifer calves—lo6 guinea* lor a five* monthl lid sslf• out of a heifw of impor«d femsk

ing. 'ike Bume ywu* was p«ud for a pfize- -*■ wuuudg Junior, xiie uuveg uveiHjjcu b< tfuiueaa. Outer piomnituiii l>uy<fi» weio juyd&ts H. it. txieeu Anient ,and tioos {uiigiuuej, and xjiomas become U>»y °t ■*"tonw- ( BURNSIDE MARKET. . ,(FBEBS JtfSOOIATJON TELEGRAM.) , V juu-y 25. , There were unusually "large yardingß of , sheep' and lambs at JUurnside to-day, and considering the large supply prloea were fairly well maintained. lat cattle were also in ,' full-supply, but the quality generally was '&dt,6f a high standard. Pigs were in abort,supply, and met a keen demand at qnhanoed puces. * *JVw Cattle—There yarding of 220. -Prices a| the/©pewng'were slightly higher • '- than last week's, but as the sue progressed 1 Biey declined. Medium and light cattle \were down, about 15s per bead. Prime beef i averaged about r ß2s pet 1001b, and cow beef 30s. \ Extra prime .heavy-weight bullocks '' made £lB to' 426, prime £l4 10s to £l7 12s « «» «d» medium 411 10s to 418 3s 6d, others £8 ■■ ~ an 4 upwards, best cows and heifprsr £l2, , 'nrtdAum" £lO 2a 6d to £ll 10s, others £6 2s *, fld ' ' i .Store'Kittle—There was a medium yard- „ i-uig.' 'The demand was not keen, and pxioes -. -rtelised were practically on a par with last i V 'sreekV rates. t A , *• Sheep—There was a yarding of 4816. - The v! "* quality was good, land there was a fans de- / mend olasees, which sold at, last '' week's ratrn until about the end of the sale, "' * - wihen values -fot ewes receded from Is to Is ~ 6d{ per. head. Prune wether mutton was TPotth;3Jd. J ahd ewe "under 8d Freezing buyera did** lvot 'oompete so freely for .heavy - , classes as. they did for medium weight sheep. ■' prima show sheep made 52s to 935, '''' ' extra prime heavy-weight wVtiwws 83s to 375, tprime - 225, to 275, medium 17s to 21s, light and unfinished 14s and upwards, prime ewes J "> 18s <Bd to 31s 6a, medium Us to 17s, light i andiWed 7s and upwards. lalAmba—There was a yarding cf 8456 head. •'. > demand for all lots suit- - able>l«'eXport purposes, and prices -were on ■» * pix with those which, ruled at last week's i <. 'safeT Ptini* lamb was-worth frota fid to tSd pat lb* axtra prime, lambs made 27s 6rt, " ' prime Sis 64t0 SSs, medium 16a to 17s 9d, mid. interior lis ami -upwards. Piga—rTheifc'waa a small yarding, which mat with good competition. Suckers were „ deJMr, antrtho average advance for bacon * k pigs was equal to 7s to 10s per head. Values ranged from 8i to 9d per lb. j i t > "■* • t /.' FARMERS' SALEYARDS. ;V *" • -WEEKL"? REPORT. 1 Messrs' B". P. Claridge and Co. xepoA busi- ' ness as follows for the. past week:— Horses— Twenty-five entries were received, •but tb* quality comprised mostly inferior sorts, which met with but little compoti- ' tion. Good, active sorts are in demand, * and, for these fairly decent pnoes are being, received where vendors are prepared to met the maris! W« sold a fairly good prot*• portion of horses which came under the it hammer, at prioes ranging from £2 to £lB. ' ' . met with a steady sale last . » week,, at further reduced pnoes "We can ' now quota, real good heavy quality covers at "* 445. Cow covers brought 365. Secondhand covers commanded market rates. ' " " - Han&iss anoV Vehicles—We have to report '/ brisk business in both these f- and both vendors and buyers are realising A " where a good market for these is to be found, wit*, tbe result that we have had big enquiries for vehicles of && descriptions. We , ' Jiate sold:—Rubber-tyred gig (pony), £3B; ' f spring drays, £23 to £3B; box carte, £8 to 'j ' N £10; gigs, from £7 to, £3B. Prospective pur- ,' i «hasor» should see our. selection. For good, * * * ....

uecond-hand harness. - the demand at. a "reduced rat© is fairly good, and during the past,week we sold several sets at prices ranging from £2 10s to £7. ' . Produce —Business this past week has -been .done at prices on "a par with those recently ruling, and we have placed several large consignments .on account of our numerous-' clientß at very satisfactory prices. The following represents the range .of values of produce realised in our-spacious mart:— Chaff—Ss 6d to ,6s 6d per sack, ' eacka in. Qood, bright, heaVy oh<aff is in demand. Oats—First quality, 18s per sack; others from 15s. . Fowl Wheat—22s. to 295. Splendid fowl feed. Weet-oat—24s per sack. ■ Barley—lsa .to 16s 6d per sack. Pig Feed—los to 12s per Back. Bran—los to lCs per eack (150-160lb). . Pollard—l6b to 17s 6d per sack (120-I40lb). Potatoes—6s -(1301b) per sack to 10s (2201b). Bed Dakota and Arran's Chief. Pig Potatoes—Bs 6d per, sack. Swede®—ss per eack. Onions-r-Ss per oental' bag. Carrits—ss per sack. • Gow' Racehorse- Ha.y—We have to report big business in these line®. _We are in a position-to quote .for any-quantity. Baled Straw—2s 9d to 3s per bale. Wheat-straw Chaff —3s per sack, sacks in. Oat-straw Chaff—3s 6d per saok,, sacks in. Mutton—6o creases were disposed of at 6s per side;- foreqoarters, 2s 6d;/ hind quar.teiflj 4a 6d, Dairy Cows—We disposed of several head of firskclaes- dairy cows,under ttns:Tiaat week,- our ,top realising £l®. "for >' a tip-top "d-airy 'cow in full profit. ■ ' vPigs—A dull sale. Good weanerß realised 12s; poorer; sorts, 5s to 6s, each. Poultry—Our Wednesday's and Saturday's sales, are now meeting with greater competition, and good prices have been realised,' with & clearance oi aD lines.' following represent' range of prices at present ruling:— , Pullets—l3s .to 16s per pair. .'. Hens—Good birds, 12s per pair; other sorts, 5s to 8s -6d per pair. Cockerels—ss_ 6d to 8s per pair. * - Ducks—Bs per pair. v . Egigs—Ss 2d- per dozen. A large quantity disposed of. - ' Sundries—A large, assortment of furniture and (Sundries came under the hammer, and the. following ,sale? were f recorded:— No. 8 black , wire, 29s per ewt;' Ho. 8 galvanised wire, 82s> 6d per owt; ■ barbed wire, 30s to 31s per v cwt; malthoid roofing, 82» Gd;' empty &acka, V'g \3emaud,.4d to 7JI; new sacks, 9d to JOd; portable copper, £2 17s 6d;. wheelbarrows, 25s to 27s 6d; kitchen tables, 7e ~<!d to 15s; : kitchen chairs, 8s 6d to 6s. There is a ready' demand, for . good seoond- , hand furniture. . A' hoßt of sundries • eold« at prices satisfactory to' all concerned. 7613 CHRISTCHTJRCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. ' Sale on 'ChangeGoldsbrough, Mart, £1 18S '. LATEST QUOTATIONS.

ATTCKLAND, May 25. Sales on 'Change:—Bank of .New Zealand, 46s 6d; Talisman, ss/lld; Waihi, 31s, 31s Sd; fifrand Junction, 10a, 10s 6d.' . DoNEDIN, May 26. Sales on 'Change: Lyell, 13e lid; Huddart-Parker,' 3&» 9d.

Sales Tepcqrted:—N.Z. Refrigerating .(paid), 27e 9tL" ■-, . .

.... ;..■•.. LIMB. -' The - Mqjmt Somen, Lime and Stone Co., Ltd., haying installed more power and crushing plant, are now in a position' to supply Carbonate of. Lime for. immediate delivery. Order for delivery now, and save disappointment later, on. '-

THE MT. SOMEBS LIME AND STONE . ; CO., LTD., 17S Caahel sircet, Chtiitchnroh. ;, 'Phone 4168. . Box 637, Chrißtchmch. 4

' Buyers. Sdlew. £ «. d. M s. d. DEBENTURES— N.Z. Qort; 41 per o«at '• ... ■ j Inscribed, 1938 ■ 82 15 0 N;Z. Govt. 5 per cent. *'■ Inscribed, 1927 90 10 0- — N.Z. Govt., 5'per.cent Bonds, 1927 ■ ... 90 10 0 — N.Z. Goyti, 5J ier cent. Inscribed, 1988 \.'. 91 .0 0 91 10 0 N.Z. Govt., 5J'per cent. Bonds, 1983 : — 91 100 BANKS- \ t Australasia • .. 78 5 0 New Zoaland .. 2 6 6 2 .7 « Umiom of Australia 12; 0 12 1 6 INSURANCE— ' ■ New Zealand ... 1 6 6 • • South British .. .. 1 10. 6 Standard , .. • .. 2 «2 6 2 4 0 LOAN AND.AGENCY— : Dalgety and Co. (ex. - iVifdSv) . .. .. ' ... 10 10 0 ; Goldibrotogli, • Mori "■(Melbourne) 1 19 0 ' SHIPPING— * Howard Smith 0 19 O Huddart-Paiker 2 0 0 JROZEN MEAT— N.Z. (£1 paid) .... .. .1 8 0 1 9 6 N.Z. Refrigerating (10a — 0 16 6 COAIi-T Wesitpori (cum div.) .. 1 6 6 WOOLLENS— 'Kaiapoi. (£1 paid) - 1 1 0 r Kaiapoi (10s paid) 0 10 6 GAS- / Chiistchureh 5 6 0. 6 10 0 BREWEEIES— 6 Crown .. 1 Ward 10 0 MISCELLANEOUS— » ' • Beath and Co. » 1 3 0 N.Z. Drug! Co. ' ... 2 14 0 2 14 9 Whiteomb© and Tombs . 2 10 0 MINING— • Wftihi (cum div.) • .. ' .1:10 6 - OTHER EXCHANGES.'