COMMERCIAL.

Otago Daily Times, Issue 19472, 6 May 1925, Page 6

COMMERCIAL.

NBW ZEALAND APPLES. SALES IN LONDON. The Otago Provincial Fruitgrowers’ Council reports having received the following cablegram from the High Commissioner for the week ended May 2:—“Apples, ex Waimana, arrived in satisfactory condition, except for a few individual cases frosted. The full extent of the frosting is not known yet. Largo Cox’s Orange Pippin are showing pitt, and Worcester Pearmains are doubtful, but Delicious are prime and others good. The parking is much improved Npw Zealand Cox's Orange, 25s to 26s per case; Jonathans and Cleopatras, 17s to 18s; Worcester Pearmains, Ribston Pippins, King Divrd, ICs to 375; London Pippin, 15s to 365; Dunn’s Favourite, 36s to ISa; Premier. Ifis, Delicious, 20s to 215.” DAIRY PRODUCE MARKET. The National Dairy Association has, in view of the continued low price for New Zealand butter on the Homo market, circularised dairy companies in the following terms;—We understand many companies have instructed their London agents not to sell consignments under a fixed price. Other companies are withholding their butter from shipment at this end pending an improvement in the market, but as the season is now drawing to a close, the question in the minds of many must bo ‘‘When is the market going to ahow an improvement and to such an extent as to allow hold quantities to be either sold or shipped. ’’ The present unsatisfactory state of the market is no new experience to the industry; the same slump has occurred during the last season or two. The cause and its remedy will, no doubt, be one of the main factors the Dairy Produce Control Board will have to grapple with. In the past this periodical slump has been attributed to heavy arrivals, —in other words, the law of supply and demand. November, December, and January are the three months of the year when our production, is greatest; allowing three months for the produce to reach Great Britain brings us to February, March, and April of each year, the period during recent years when low prices have been obtained. It is therefore only natural to assume that excessive arrivals, greater than the demand, weaken the market, and not until supplies commence to diminish can be expect prices to improve. At April 30 there wore 366,720 boxes of New Zealand Ibutter afloat, that is in steamers that had actually sailed finally from the dominion, but had not arrived at London. Eestim&ted in store awaiting shipment and loaded in steamers that had yet to sail, 294,000 boxes, but a considerable quantity estimated at 65,000 boxes is meantime withheld from shipment. Perhaps 25 per cent, of this held quantity may not find its way to the Home market. Messrs A. S. Paterson and Co. yesterday received the following cablegrain from Messrs J. and J. Lonsdale and Co. (Ltd.), London; dated May 4: “Butter: The market is quiet; 168 s to 170 s. "Cheese; The market is slow; 965.” Messrs Joaeph Nathan and Co. are in receipt of the following cablegram from their London office: —“New Zealand butter, 170 s. New Zealand .choose; 98s. The market shows a better tendency.” LONDON MEAT MARKETS, The New Zealand Loan and Mercantile Agency Company (Ltd.) has received the following cablegram from its London house, dated May 1: —"New Zealand frozegi meat: Lamb, 12id per lb (average); the market is firm. Mutton; Wether and maiden owe— Light 8?d per lb„ heavy 6gd per lb; owe— Light 6id per lb, heavy 6d per lb. The demand is small.” * RABBITSKIN MARKET. The Dunedin Woolbrokers’ Association (Messrs Wright, Stephenson, and Co., the National Mortgage and Agency Company, Messrs Dalgoty and Co., the Otago Farmern’ Co-operative Association, Messrs Donald Reid and Co., the Now Zealand Loan and Mercantile Agency Company, and Messrs Stronach, Morris, and Co.) held its usual sale of rabbit ski ns yesterday, and offered medium-sized catalogues to a full attendance of buyers. Prices, as compared with last sale’s- rates, showed a decline for summers and racks, from 3d to 4d, and for autumns and incoming winters from Id to 2d on late ruling rates. The following prices were attained:— Runners and suckers, 25d to 30d; light racks, 36Jd to SSJd; prime racks, 39Jd to 41 Jd; early autumns, 49$d to SSJd; late autumns, 561 dto 6Gd; early winters, Olid to 66id; incoming winters, 66jd to GBid; first broken, 46d to 47id ; second broken, 44Jd to 47d; weevilly, 31Jd to 30i<3; summer black, 36d to 39£d; autumn black, 451 d to 49Jd; fawns 56|d to 60. id ; bareskins, 30Jd to 38id; horsehair, 18d to 20d. METAL MARKET. Press Association—By Telegraph—Copyright. LONDON, May 4. (Received May 5, at 10.30 p.m.) Copper.—Spot, £59 18s 9d; forward, £6O 18s 9d. Lead. —Spot, £3l 10s. Spelter.—Spot, £34; forward, £32 17s 6d. Tin.—Spot, £258 7s 6d; forward, £341 7s 6d. Silver. —Standard, 31 5-16 d; fine, 33 13-16 d per onnee. —A, and N.Z, Cable.

CANTERBURY MARKETS. (Paa United Press Association.) CHRISTCHURCH, May 5. The wintry weather since the week-end has eased up activities in the grain and produce market. Farmers have not been to town and tho carting of produce and digging of potatoes has been at a standstill. Tho cassation of the diggings and delivery of potatoes on account of the weather has firmed up tho spot market. The three vessels which left for the north last week— Katou, Kaiapoi, and Wanaka —conveyed an aggregate cargo of between iI,OCK> and 12,090 sacks, including 5000 from Timaru. Tho hold-up of digging on account o'f the weather will probably mean a shortage in a month, as the cargoes represent only a fortnight's supply. Offers of wheat have slackened off owing to the weather. Oats are firmer and forward business has been done at 4s 7d, f.0.b., s.i., for A's and 4s lid for B's. There is nothing new to report in regard to seeds. !*» ■ AUSTRALIAN WOOL, SALES. AN IMPORTANT PROPOSAL. Press Association—By Telegraph—Copyright. SYDNEY, May S. (Received May 5, at 10.5 p.m.) The National Wool Council is meeting at Melbourne on Wednesday to consider the question of tho suspension of the wool sales throughout Australia owing to the general slackness of the demand on both tho local and London markets. WHEAT MARKET. Press Association—By Telegraph—Copyright. NEW YORK, May 4. (Received May 5, at 10.5 p.m.) Chicago wheat quotations: May delivery 162 cents per bushel, July 153}, September 145Jd. ■>«► TOPS MARKET. Press Association—By Telegraph—Copyright. LONDON, May 4. (Received May 5, at 10.30 p.m.) (Received Mays, at 10.30 p.m. .) No business is doing in Bradford tops, as everyone is awaiting tho opening.—A. and N.Z. Cable. .«. TOEEION EXCHANfIE BATES Press Association—By Telegraph—Copyright. LONDON, May 4. ("Received liny 5, at 10.30 p.m.) The CKchnnge ratfß are as follow:

April 30. May 4. Paris, fr. to £1 .. 02.65 02.65 Brussels, fr, to £1 .. !»5.60 95.65 Oslo, kr. to £1 .. 20.4a 28.74 Copenhagen, kr. to £1 . 25.9B 2ft. 80 Btookholm, kr. to £l .. 18.11 18.11 Berlin, reichmnrken to £1... . .. 20.37 20.37 Montreal, dol. to £1 .. 4.841 4.841 New York, dol. to £1 . 4.84J 4.84S Nome, lira to £1 .. 118* 117J Yokohama, st. to yen 20J 20J Hongkong, fit. to dol :. .. 27 37 \ Calcutta, st. to rpe 10 to £1 . m 175 Amsterdam, Builders to £1 .. 12.07J 12.0GJ Bntavin, guilders to £1 .. 12.08 12.07 —A. und N.Z. Cable. _