TRADE AND FINANCE

Evening Post, Volume CXII, Issue 56, 3 September 1926, Page 9

TRADE AND FINANCE

SYDNEY WOOL SALES. (United Press Association. —Copyright.) SYDNEY, 2nd September. At the wool sales demand was strong for nil sections of trade. Prices v«re well maintained at the previous day's levels. Bidding was keen. Greasy merino sold to 25d per lb. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their Sydney office, under date of the 2nd September, on the wool sales held at that centre:—"We offered 4000 bales on the Ist Instant. As compared with the Juno sale, prices are 5 per cent, higher. Competition is general, with good clearances, erino sold to 25Vid per lb." AUSTRALIAN PRODUCE. SYDNEY, 2nd September. The wheat market is lifeless. Quotations are 6s 4d per bushel delivered at country sidings, 6s lid ex trucks at Sydney for growers' lots bagged, and 7s 4d to Ts 6d for millers' parcels. Export flour is still without inquiry. The quotation is nominally £15 per ton f.0.b., and local delivery £16 10s. Oats, Tasmanian Algerians, 5s per bushel, white 5s 3d. Maize, white and yellow, 7s per bushel. Potatoes. Tasmanian £12 to £10 per ton; New Zealand, £10. Onions, Japanese, £22 per ton; American, £23. ADELAIDE, 2nd September. Wheat: Growers' lots, Cs 3.id to 6s 4d per bushel; parcels for trade, 6s B%d. Flours Bakers' lots, £15 10s per ton. Oats: 3s per bushel. (Received 3rd September, 11 a.m.) MELBOURNE, This Day. Wheat: Buyers and Sellers indifferent. Parcels, nominal, 6s 9d a bushel. Flour. £15 10s a ton, cash £15 ss. Oats: Milling, 3s Gd, 3s 7d; feed, 3s 2d, 3s 3d a " "ihe!. Ba.—y: English, 4s Cd, 4s 9d; Capo, 4s 3d. Potatoes: £10 to £11 a ton. Onions: £18 10s, £19 10s a ton. MELBOURNE HIDES. (Received 3rd September, 11 a.m.) MELBOURNE. This Day. Hides: Strons market. All lines advanced y.d. PRICE OF GOLD, LONDON,' Ist September. The price of gold is £4 4s 11 %d per ounce. TIN STOCKS IN LONDON. LONDON, l3t September. Tin stocks are 12,687 tons; on spot, 1154' tons; afloat. 17S0 tons; deliveries. 1622 tons. LONDON TALLOW SALES. LONDON, Ist September. At the tallow sales, 1108 casks were offered 2nd 201 were sold. •' Prices were unchanged. &iles will not bo held next week, unless the demand shows signs of improving. ■ Tallow in stock, 8321 casks; imports, 2393. casks; deliveries, 1173 casks. BUTTER MARKET VERY WEAK. Messrs. Dalgety and Company, Limited', reS..rt> having received the following cablegram from their London house, under date of the 2nd instant:— "Butter: Market very weak. We quote New Zealand finest 6alted, 304s to ICCs (106s to 170s); Danish, 174s (1765); Australian finest salted, lG2s.to 164s . (164s to 168s); unsalted, 160s (108s to 170s). Cheese: Market very weak. We quote New Zealand coloured, 83s to '84s (84s to '80s); white, 85s to 86s (86s to 89s); Canadian coloured, 83» to 84s (84s to 80s); white, 85s-to 86s (86s to 89s). Stored butter asking prico 160s to 1625, but little doing. Butter prices are nominal." (Last .week's quotations shown in parentheses). Messrs. Joseph Nathan and Co., Ltd., have received the following cable from their Loudon house, dated 2nd September :—"New Zealand butter b 162s to 1645; New Zealand white cheese, 80s; coloured, 845." FROZEN MEAT. Messrs. Dalgety and Company, Limited, report having reeclved the following cablegram from their London house, under date of the 2nd instant:— "Lamb. —New Zealand prime crossbred lamb, Canterbury, light o_,d, heavy B._d; North Island, heavy 7»/_d, light B#d; market dull; demand limited, "Mutton.—New Zealand prime crossbred mutton, Canterbury, light 6%d, heavy s._d; North Island, lighted, heavy sd; market weak; demand poor owing to warm weather. "Beef.—New Zealand prime ox beef, hinds s*_d, fores 3.id; market firm; demand fair. "Australian Frozen Meat.—Good average quality crossbred lamb, heavy and light not quoted; good average quality crossbred mutton, light 3%d, heavy not quoted;, market weaker; demand poor. There are heavy supplies of Scotch lamb, selling at practically the same price as for frozen. Demand generally very limited." LINSEED. ' . • The Department of Agriculture, has received tho following cablegram, dated the Ist instant, from Calcutta.:—"Linseed: We quote £18 10s for linseed per ton, c. and _.- Sydney, immediate shipmont, and £16 15s for September shipments. Market steady." "SPECULATIVE ELEMENT" SCORE. Some co-operative dairy companies are more prudent in their finance than others. ' At the annual meeting of the Rexdale Co-opera-tive Dairy Company, the chairman of directors (Mr.- P. Lawson) is reported by the "Pahiatua Herald" as saying: "You will note that,our reserve account now stands at £2500, having increased from £708.10s lid, and that depreciation reserve ha 3 been written up from £621 8s Id to £1064 12s 7d, both very substantial and useful reserves used in the business of the company. It is rie.i.able that I state that it was the custom of the • company to keep in. suspense certain moneys which had accumulated during the 17 years of our activities so that if required these amounts would be available for transfer to our profit and loss account. Now that the operations of the Dairy Produce Control Board will practically eliminate the ' speculative element which is present in all consignment companies, it has been deemed desirable that such amounts should now be definitely 'earmarked,' consequently the amounts standing in suspense, and storage and insurance adjustment accounts are added to reserve and depreciation accounts, this allocation not only making for stability in .finance but also in clearness. The reserves of the company have been built up consistently and continuously, and suppliers have never been asked to bear a burden In this respect, our payments for butter-fat being on a parity with those of similar concerns." CANTERBURY FARMERS' CO-OP. TIMARU, 2nd September. The directors of the . C.F.C.A. met to-day to review the accounts for the year.. A trading profit of £14,328 was disclosed. There will bo no dividend on ordinary shares, but the usual dividend of 6 per cent, on preference shares will be paid. LOCAL PRODUCE PRICES. Laery and Co., Ltd., under date of 3rd September, 1926, report wholesale values as follows:— ' Tlkaka mixed fowl feed, 5-sack lots or over. 6s 6d, . lesser lots Cs 9d per bushel. sacks in. Linseed meal, 16s; linseed nuts, 12s per 1001b bag; Tikaka' oyster shell grit, five-sack lots or over, ss, lesser lots 5s 6d per 1001b; Tikaka pipi shell grit, five-sack lots or over, 6s sd; lesser lots 6s per 1001b; oats, machine dressed seed Algerians, Cs Sd to os. Cd; farmers' dressed seed Algerians*' 6s 6d, Algerians 4s lid, Dunns 5s Bd, Cartons 4s 3d to 5s 3d; seed Cartons, 5s 4d: crushed, 5s 6d; Black Oats, 5s 6d bushel, sacks in; shelled oats, for chicks, 6s 6d bushel; South African maize, whole 7s 3d. crushed 73 6d: barley, feed 5s 9d: seed, 6s per bushel; rye corn, five-sack lots or over, 6s 8d; single sacks 6s lOd, sacks in; wheat, milling 8s 9d per bushel, sacks in; wheatmeal. feed, ton lots £16; -eggs, first grade new laid, ls 7d; storekeepers', ls 6d; peameal, half-ton lots or over, £11, lesser quantities. 11b 6d; barleymeal, half-ton lots or over, £10 10s. lesser quantities, lis: butter., prime farmers' separator. Is 3d to Is 4d, dairy pats and; bulk, ls 3d to Is 4d; turkeys, ls 4d to ls 5d per lb; ducks, runners, young, 12s to 143; large whites, 13. to 15s; old, 9s to lis per pair; fowls, White Leghorns, Cs to 8s; Black Orpingtons and similar heavy varieties, 9s to 10s: roosters, White Leghorns 8s to 9s; heavy breeds young, 10s to 12s; fungus, New Zealand, 9d to lOd lb; dressed pork, 60's to 90's, 8d to 9d lb: sucking pigs, BSd to 9}d per lb; honey, in 601b tin, 41d per lb; farro food, halfton lots or over, £10 15s, lesser lots lis 3d; sucroslne, J-ton lots or over £12 10s, lesser lots, 13s; cow chaff, ton lots, £3, sack lots 7s; rock salt, 6s per bag: straw chaff, ton lots £8, sack lots 5s 6d sack; Blenheim chaff, prime £10 10s; good heavy £10; Australian wheaten, £13 ton, sacks in (net); mutton birds, in casks of 450, Od per bird, in kits, cooked or salted, ll_id bird; molasses, in casks 40s in cwt cases 8s 6d; bran, _.-ton lots or over, £10 per ton, lesser lots 10s 6d cwt; pollard half-ton lots or over. £12; lesser lots. 12s per cwt; oat pollard, half-ton lots or over, £8 15s per- ton; lesser lots, 9s per 1001b; Tikaka pigmeal, £11 15s per ton for half-ton lots; lesser lots 12s per 1001b; Nikau chick raiser, day old 22s per 1001b bag; Nikau chick raiser, No. 1, coarse, 21s per 1001b bag; Moreg poultry spices, cases containing 40 packets £3 10s per case; les3cr . lots 2s Gd per packet; black leaf 40in spray, 21b tins, 13s each, 101b tins 50s each net; potatoes, ton lots. Canterbury grown, £6 10s to £7; North Island £5 10s to £5 15s per ton; early seed potatoes, ton lots, Arran Chief £6 10s, Gamekeepers £0 10s, Sutton Supreme seed £13, Northern Star £7; all South Island grown.