COMMERCIAL NEWS

Hokitika Guardian, 11 January 1923, Page 4

COMMERCIAL NEWS

ftDJIHCTON STOCK MARKET A FIRMER MARKET. (By Telegraph.—Special to Cuardian.) CHRISTCHURCH, This Day. •Messrs H. Matson and Co., report as follows regarding their slock sale at Addington yards yesterday: Store Mu-cp.—A very large yarding, comprising mostly lambs and wethers, and included several pens of Chatham sheep. Banks Peninsula was also well represented with lambs. The marlu t was firm throughout and considering tile s h:e of the entry we consider the sale a- good one. Good young ewes wfore also in .keen (fcnnn.nd. R<sl wethers, 2d.s to 27s 3d ; others, 22. s (id to 21s (id; 2-tuoth ditto, 20s to 21s Gd : a few extra to 21s: others, U>s to Is. Best rape lambs, 23s (id to 26s Ad; medium, 20s to 235: others, los (id to 19-s. Best S.M. awes, 29s to 33. s ; medium 24s (id to 28s; aged and inferior, 18,s to 23s Gd. Best ewes and lambs. 24s Gd. All counted. Store cattle.- A medium entry, mostly nondescript lots, hut included one or two lines of decent steers, and well-grown heifers. Anything good sold well, hut odd lots and inferior sorts were, -somewhat neglected. One line of good 3 and l-yr steers made £7 3.s and a pen of 2-yr. heifers to, and 18-mos. ditto 24. Other sales were 2-yr steers £4 os to £4 12s lid; 2-yr. ditto, £2 IB- lo 23 os; yearlings I .Vi to 20s; 2-yr. heifers £3 to £3 10s. yearlings 21 os to 21 Ids; cows, 20. s to 30s.

’ Store pigs.—A medium entry and the demand was fair with prices as s follows; —Wcaner.s, 10s to Ids; good . sorts 20s; slips 18s to 20s; medium t tores 27s to lids ; large ups to 4 Is. No , sows in pig were oilcriug. A good eiit try and fair demand, prices being on a. par with last week’s rates. Eight r porkers, 38s to Ids; heavy, Ins to ods ; average price fjd to 7(1 per lb. Light t l,a, urn-rs. £2 ds lo CO; heavy, 23 2s (id to £.3 8s; extra heavy. 23 id- to 23 | 18s (id. Average price, djd to (id. - Choppers. £2 H>s to £l. Beef.—A very large yarding and the ijiiiility was irregular, ami included a good proportion ui old cows anil unliiiished steers. The market for all good 1 quality showed an improvemc-ul on last, week, hut others showed little 2 (lilferenee, although on the whole the v market was slightly lirmer. I’nmo e steers. 11l LOs. to £l3 10s. extra t0(.16 (.16 10 s;; medium. £S to UI ds ; - Others £d to 67 Ids. Brine' heifers 67 Ids u> £10; others £1 to £7 I|Ks Prime cows, l'(.i to £0 Ids; extra £lO , 7s (hi: others £3 ds to ltd Ids. Mutton. —A small yarding, hut evi- - (I. ntlv .sullieielU for butchers’ reqilireI incuts. The market all round vas r | about Is above, last sale. Freezing . I buyers were unable ,lo secure vpry I | many, mostly ewies being e.nteivd. I’l'imo wethers 30s l.kl to -Lb <1; '’nli.i i to 38s 3d: medium. 27s (id to 30s; others 2ds 0(1 to 2i.s. Brinu- ewes -e . to 30s 6(1; extra, to 36s 3d: medium \ 23s 6(1 to 26 fid ; others Ids to 23x. - i i.aadis. A small .yarding and the i! quality was very in and out. • i<‘‘ ; j maihet all round showed a di.sitncr I ,nijH'o\ euieiit on last week, cspeei.illv , fur 'mod quaiilv. and a g - m rnl „‘t- - -...me .4 is to G Pd. The average - pn-ie was at,out IDs per lh overall. A few West Coast lanilis mad- up - :>.|s Bid. ! COMMERCIAL, j life eiv-.I this day at £.30 ii.m.l I.(IN'DON, .lauuaiy M). ' Wheat Cargoes are dull owing to i ij-,*-ii mss m (-x- uanges. I'riees I are llireepeme to sixpence h,wo,. ; Sivanu' pai'ctD -re il, pom- ,eque.-t. I r H„- jt, on:- of live lug l,a„ks lu re i dropped £1.600,009 von,pared with : nidi ; and £4..1110.060 et.mpared with | 1 <)2fl. lii'.t in I! 121 dividends were paid (despite a tie.nine ill profits, the total ! distributed to shareholders being | 67.127,000. II EM I’ .MARKET IN 1022. i i The year 1022 was a quiet one for J New Zealand hemp (says the "Doj minion”). There were many iltietuaj lions in values, hut the variations were i not very marked. Early in the year | High fair was worth L'27 10s per ton 1.0. h. Wellington, hut at the end of ; April and again at the end of June the I price dropped to £2o. By Sepiember tit), the prn-e had risen to £2O. and i,l- ---! though the market swayed backwards and forwards, the year closed with the price at (.'26 per ton which just about leaves a -mail margin of profit to the miller. The production of hemp in New Zealand for 1022 amounted to , 60.326 hales, about 12.000 tons, against < 60,143 hales in 1921. Bast year’s production was the lowest for many years Millers have now to go further afield 1 for the flax, and this adds materially to the cost. The present price of £2O per ton leaves a bare margin of profit, , and il would lie impossible for millers to add to the costs of production, and : carry on. Another menace to tho j industry Inis been the blight experi- j eneed in the established Max areas ! around Shannon. The trouble lias j proved serious enough for tho J'Taxniillers’ Association to engage an ex- , pert to investigate tho matter. Tin's i expert.. .Mr George Smerle, has dis- | covered that the blight is due to the j manner of cutting the flax. Hitherto : it has been tho rule to cut deep down, which affected the growth of tho now | shoots, which were sickly and diseased. -; Tt appears that he has demonstrated j that hy cutting the flax higher up the j new growth is strong and vigorous and j instead of a now crop being available i every four years, ns was the ease nil- | dor the old system of cutting, under I the new system a new crop is ready | for the millers in two years. The pro- J blem to be solved now is whether the j new system of cutting the flax high up j will he commercially profitable. Tf it j adds to the cost of producing hemp it J will not bo adopted, for the present I price of New Zealand hemp, as already j stated, leaves no margin. If costs of production could be reduced and the j new system is all that it is claimed, j then the industry will prosper. i