COMMERCIAL.

Gisborne Times, Volume XXVI, Issue 2175, 27 April 1908, Page 1

COMMERCIAL.

United Press Association—Copyright LONDON, April 21. Wheat market: There is a better inquiry and a general adyanco of a shilling. The impression is that the wo id- 1 7 s now over. Cargoes from off eeast held half lor 36s 3d, Australian on spot small supply, 88s to 38s Gd. Flour is slightly firmer; alloat lots are offering at Glasgow at 27s (id. Putter is firm and Colonial is clearing well. Choicest Australian 100 s, 108 s, New Zealand and Danish 110 s, 112 s. The cold weather is checking European supplies. Wool: At the Bradford woollen market there is slightly more inquiry, hut little business. Forties BJd, 46's IOJd, common GO’s 21d, super 22d. The following are the Bank of England returns: Gold coin .£35,G0G,000, reserve £'20,879.000; proportion of reserve to liabilities 00.52; circulation £28,542,000.; public deposits £10,367,000; Government securities £13,860,000; other securities £30,211,000. Bank rate 3 per cent. Consols 863; New (South Wales 3V’s 94:', ; Victorian 4’s 104 J; other stocks unchanged. Coppor, spot £OB, three months £SB 10s. Tin, spot £145, three mouths £143. HORSE SALES. Messrs. Williams and lvettlo Ltd., yarded 79 horses on Saturday. Bidding was brisk, tho demand being bet. ter than before thoiiolidays, and satisfactory prices were realised lor most lots offered. TJifbroken backs sold well, prices ranging from £lO to £l9 ss, unbroken ponies £1 10s to £5. About a dozen nice draughts were offered and sold well, some of the prices being £2l, £3l, £32 and from £43 up to £SO. Tho quality of the hacks yarded was above tlio average and urices varied from £5 to £l2. A nice 'ooking well-bred hunter was sold for £ls. ,

WOOL. Tho wool sales, as far as tho Australasian colonies are concerned, have closed, prices at the conclusion of tho season being disappointing. Tho hopes for next season aro brighter, as many countries,' whoso mills are factors in the market, bought frugally, and must bo larger purchasers next year. The purchases of colonial wools for America this year amounted to ouly 45,000 bales, as against 100,000 in 1907; sufficient in itself to alfcct the general position of tho market. The purchases for Japan were also of so small a volume that their support—in recent years to he reckoned with—was practically non-existent. The wool industry is not suffering from decreased consumption, but from an abnormal money market and consequent want of confidence, but it it believed that these will slowly and surely pass away. For tho season just closed the State of New South Wales was largest in exports, sending out 626,545 bales, as against 662,096 for the previous year. Victoria came next with an export of 418,354 bales, and New Zealand third with an export of 288,026 bales, as against 326,150 bales for tho previous season, a decrease of 38,124 bales.

MEAT. As is usual towards tho end of the season the Home market for frozen meat of all descriptions is firm, and there is a better demand for New Zealand products, especially lamb, while beef is wanted. Lamb is quoted as high as ogu lb and beef 3gd. The exports are showing a gradual falling off, only about 160,000 carcases being shipped last month, while April is almost certain, to show a further shortage. The prices realised for beef at Mat a where on Thursday were disappointing to farmers, who can see.no reason for the decline. The markets in other parts are well maintained. Steers at Addington last week sold as high as £ll 17s 6d and cows io £8 15s, equal to 25s per 1001 b, against 18s per. 1001 b locally. There was a corresponding decline in the price of fat sheep at Matawlioro, the competition being so dull that auetioneeers did not push sales at the prices offered. Tho top] price for wethers was 14s 6d, but only the better pens sold at that figure. At' Addington on Tuesday prime wethers brought up to 20s Gd, and medium sorts to 17s Gd, a big advance on Poverty Bay quotations. There is a fair demand for store wethers, but ewes aro not wanted. The yardings of late havo been large, and as winter is coming on, farmers aro cautious of overstocking, and the low rates ruling can probably bo set down to that- fact. GRAIN.

Tho wheat market is weakening, lower prices ruling all over the colonies. Flour is quoted locally at £l2 10s, which is excessive .when compared with the markets in other parts. Small shipments have been landed in Wellington, where the price ruling is only £8 10s per ton, and will yield a profit of £1 10s per ton to the New Zealand importer. Tho N.Z. Department of Agriculture estimates that for the year 1908, 193,031 acres will be sown in wheat, with a total.yield of 5,211,837 bushels, or about 27 bushels per acre. Tho acreage of oats is estimated at 386,890. The yield at 30 bushels per aero, or. a total of 11,006,700 bushels. Barley is estimated to cover 36,177 acres, yielding 29 bushels nor acre, or a total of 1,049,133 bushels. Wheat is quoted at Is Id to 4s 8d and oats 2s 2d to 2s (xl a bushel. Bestquality chaff is worth £4 5s per ton.

DAIRY PRODUCE. The local butter market is easing considerably, though prices at Home show no decline. New Zealand prime being quoted at Ills, with an improved demand, and supplies limited. Factory; butter is selling locally at Is Id, and dairy,at lOd. Eggs are scarce; being quoted at 2s 2d per dozen wholesale, with prospects of a rise in value.

Tho N.Z. Loan and Morcantilo Agency Company Ltd., report on the stock sale held on Thursday, 23rd inst. The attendance was about up to tho average, but the supplies of stock for the time of the year were manifestly in excess of what could be- reasonably expected to be absorbed, tho consequence being that in the sheep section only wethers and lines of ewes, entered without reserve, and which had come from a considerable distance, found buyers. Sheep: The entry was a large one, but for the most part consisted of ewes in lamb, which were difficult to place.' We sold 1842 at"tho following quotations: Cull ewes 4s, full-mouth owes in lauih 6» lid to 7s!)d ; empty ewes, Gs 6d to 7s (Id; 2,4, and 6 tooth ewes (culls) 7s 6d to 9s; lambs (culls) 4s to 5s 7d, better lots 6s 6d; 2-tooth wethers (small) 11s 3d ; There was no demand whatever for fat sheep, either ewes or wethers, although a fair entry came forward. Cattle: We had only a small entry. Of G 1 we sold 48 at; For 18-mo»th to

2-ycnr old steers £5 7s to £5 los; 18-month heifers £2 Gd;*l lght heel cows £4 10s to £4 15s. Pigs were also a small entry. Weaners made 9s Gd, porkers 325. The next sale will be bold on Thursday, April 30, and we have a considerable entry of good stock at the present time for this sale.