Commercial.

Horowhenua Chronicle, 19 January 1916, Page 3

Commercial.

LOMJO.N .PRODUCE .uARKEI. The Liank of -New Zealand's prodiucc report, dated London. uvemuei liutJi, in i->, states:— »tool.-Tho seventh series of sale:: lor the year, which commenced on the 2(Jth ultimo, terminated on 18th inst.. the quantities available aiul catalogued being as tollow :— Net available, 138,<joo balesj catalogued j12U,991 bides, bought in 22,000 bales. Ot the quantity sold some 25,(JD0 bales were taken .for export, including 12,000 bales purchased far shipment to America. The •opening was marked by the usual large Attendance of Home trade buyers, a« well as representatives from America and the Continent. The initial sale Tvas satisfactory, considering that tlKi two catalogues contained by no means a good selection, and average and faulty •wools formed the buJk of the offerings. As the sales progressed prices gained ground, until at the finish everything was seen to advantage and trom whatever standpoint these sales are viewed the results must be considered distinctly good, and better than even the most eanguiue expected. The present standing of raw material is remarkable, and the results of the sales are substantially the outcome of large..e-\isting needs on the part of our Allies and America, who !-have forced the hands oi the Home "trade. Another important iactor whichTjae brought about, an advance in prices is the high rates paid by foreign buyers for the South American clip, whin thas prevented English buyers from opiating in that quarter to the usual extent. The sales finished with prices at the highest pojnt For all descriptions of merinos. These did not sh'ow any material change at the opening, hut the position improved as the sales progressed. and all good; greasy wools >t<> on an average 10 per cent dearer than

last sales. In scoureds the best descriptions letched extreme prices, due vuieily to tlie active operations on

liussi.in accounL, but prices show no material operation as compared with Muse ol last series. Short and interior wools, however, which during the inyL week or two were at times difficult oi wile, showed a decided improvement towards the close. Support ol' the most active Kind came lrom ail quarters America participating, lii the bidding very freely, but, as usual, the Home trade was by far the largest opera-

tor. Crossbreds have been in comparatively small supply, especially greasy parcels, and good lines ol the latter mad,o extreme rates, but, on the whole the ollerings were o? a miscellaneous character. The opening advance was about 5 per cent, but the demand improved and at the close the appreciation was about 10 to io per cent on September closing rates. Greasy lames when Iree of .seed aud in good condition rose 5 to ID per cent, but seedy shabby lots showed least change. The i ecovery in crossbreds has been remarivaule, but, nowhere has it been more noticeable titan in the case of scoureds ami- stipes, which it will tie recollected, weie neglected until the close of last series, when a rather tinner tone became apparent. Slipes, in good supply, were generally about o per cent, dearer at. the opening, Out later on, I with an active demand from the Home trade and America, values improved, aud at the close were 7J to 10 per cent dearer that last .sales closing quouilions. Scoured crossbreds have ruled at. about 10 per cent above September, the improvement being most marked; on the liner qualities which are often 13 per cent higher. Tho" sales finished with prices for crossbreds rental high, and as far as it is possible to judge there should be no giving way yet a while, because the small stocks will be wanted by the Home trade, while exports requirements are un satisfied.

The following vessels nave arrived for the eighth and final series of the year fixed to commence on 7th December, viz., Athenic, Oorinthic, Delphic, [{uahine, Tongariro, Tainui, Indrapur*, Upawa, llotorua, Makadini, and. Somerset. all new arrivals up to 6th November being included. These will amount to about 82,00 bales, to wnich has to be added about 22,00 bales old stock, giving an available supply ol 104,000 bales, of which 32,000 bales are Acw Zealand.

X.L{.--We had hoped to finally clear up our wool shortages .at the current series, but owing to tho congestion we regret to state there is still a small number outstanding. We are, therefore, pressing our claims on the wareliousekcepers, and when a settlement has been arrived at, returns for the missing bales shall he furnished with a> little delay <ts possible.

Hemp. -The market has been firm with a good demand for botli spot and distant shipment. Current prices. - Good fair. £35 IDs, Dec-Feb. c.i.f. j High point, £3-1 10s Doc-Kob. c.i.f. : fair, £33 10s Dee-Fef. c.i.f. Spot, values nominally 10s per ton higher.

Dairy Produce. Mutter.--Since oui last circular there has boon a considerable change in the situation. The exceptional prices for .Danish and Irish at the end of Sept-ember and early in October caused a complete falling-off in the d;enutnd, and the depression was accentuated by the large increase in the imports. D«msh dropped as much as SOs per ewt. at one period, owing to the cessation of orders from this country, and even at tl~e lower prices trade was none too good. Signs are not wanting, however, of a revival in the demand, at least with regard to 'the choicest qualities, but there is no improvement in the enquiry for inferior There are large stocks 01 Siberian in London, but when these are realised, a better tone may be looked for, ha.ving regard, to the fact lhat exports from thnf country until next May are now totally prohibited. A small shipment from New Zealand recently landed ex Tlotoruia, realised 15fis to 164s per m., according to quality.

Cheese.---The market continues fir.ti and prices have an upward tendency. The Xew Zealand cheese ex, Rotorua was cleared at 80s to 84s per cwt., but present rallies are nominally 86s to 88v per cwt. Tt I'emains to be seen what effect the Action of the imperial (ior eminent in requisitioning £1,000.000 >'

New Zealand cheese will have upon the market during the coming season. ■SOUTHERN GRAIN .MARKETS. Ohristchurch, January. 18. Some lines of wheat have been submitted in Christchurch. An offer ot ss. for a line tit for milling was made, but there was no sale. Several lines have been purchased at 5s Jd to ■" for fowl feed. Seed wheat lately lnis been very scarce and dear, and orders had to he filled with seconds and shrivelled wheat available this season, fowi feed will drop as soon as threshing is mote advanced.

The samples of barley coming forward are very poor, and compare v riy unfavourably with the sample of malting oarley offered from Victoria, which could be landed; in New Zealand at about 5s per 11 shel.

Algerian oai.s which have been com ing into Auckland and; some into Oati terhury from Victoria, axe mostly tor seed for sowing lor winter and spring feed. The oats market in Victoria has finned about 3d per bushel. Some th n samples of new oats have been shown in the local market, but sell? s' ideas of value are much above thosa of l i y- < i's'.