COMMERCIAL.

Southland Times, Issue 18834, 29 May 1920, Page 2

COMMERCIAL.

LOCAL MARKETS. Southland Times Office, Friday. The recent heavy weather has had a deterrent effect on the store market and little business has been effected, but it is unticipatd that when the weather improves the market will come away again. Wethers, 4, 6, and 8-tooth, are still in fair demand and sold well at recent country sales although prices were slightly easier; 2-tooth wethers have found a ready market at prices ranging up to 30/6 as against 32/- recently obtained. There has been a considerable decline in ewes. The fat stock market has been at a standstill owing to the lack of freezing space, but a bout is expected this week that will take a big cargo away and relieve the congestion. With more space available freezing buyers will begin to operate and prices harden. Horses still continue to be in good demand and find a ready market at prices ranging up to £SO for good working farm draughts aged 6 to 8 years. Oats. —The market still remains firm. Some sales having been made to Australia, but the prices obtained will only justify about 5/- on trucks, u.c.s., s.e., for A grade Cartons. Chaff.—A firm market and prices offered are from £7 to £7 5/- for prime quality, 0.t., u.c.s., sacks supplied. Potatoes.—Tie market is easier, merchants only offering £5 10/- to £5 15/-, 0.t., u.c.s., s.i., but many growers seem inclined to risk the market. Hemp.—The market is very quiet, and the lower grades hard to sell. Good-fair is saleable, but little is being produced. Tow stocks had a big cleaning out, about 40 tons being shipped by the Westralia this week and further sales have been reported. Ryegrass.—There is little doing at present but a small enquiry has been noticeable from the North Island.

WYNDHAM STOCK SALE. THURSDAY, MAY 27. Messrs Wright, Stephenson & Co. report; A small yarning ol both cattle and sheep came forward. Owing to unsettled weather conditions, very' few persons were present, tind a jiour sale has to be recorded. Sheep.—VVe sold luß lambs at 14/10, 8 fat ewes at 25/-; and we passed 240 2-tooth ewes at 24/-, 5.1 wethers at 30/-. Cattle. —Dairy cow £l6 5/-, store cows at £9 7/-, £B, £7 10/-, £O, 90/-; and we passed 18 steers at £5 2/6 and 3 ditto at £ll 5/-. Messrs Henderson & Co,, Ltd., report there was a small yarding of both sheep and cattle, and a scant attendance oi buyers—due, no doubt, to the extremely rough weather. Prices for sheep were slightly above those ruling at recent sales; but the market for cattle showed no alteration. Our transactions are appended. Sheep—ll6 ewe lambs at 22/G, 151 ditto at 21/6, 10 cull lambs at 13/-, 43 2 and 4-tooth ewes at 20/-, 75 sound-mouthed do. at 15/-, 30 ewes at 17/6, 24 do. at 13/3, 22 full-mouthed do. at 14/2, 17 2-tooth wethers at 14/-, ram 17/ G. Cattle.—Dairy cow and calf £ll 15/-, 2 dairy' heifers and 1 calf sold for £2l 10/-, fat cow £9 12/0, 2 bulls at £lO and £5 10/-. Messrs Hunter Bros. & Rice report a fairly good yarding of both sheep and cattle came forward, considering the stormy nature of the weather. There was only a small attendance of buyers, but prices did not suffer to any' extent. We placed practically the whole of our yarding at satisfactory prices, us indicated hereunder — Sheep—l 4 fat wethers at 38/3, 24 ditto at 34/2, 21 fat ewes a) 29/-, and 62 ditto at 2S/-; 58 store wethers at 30/1, 21 lambs at 23/11, 86 6 and 8-tooth ewes at 25/-, 163 4, C, and S-tooth ewes at 26/2, 82 do. do. at 24/-, 70 sound-mouthed ewes at 16/9, 78 full-mouthed ewes at 15/ C, 32 ditto at 15/10, 60 at 18/8, 14 old ewes at 9/3; and we passed 44 fat ewes at 27/6. Cattle. —4 fat steers at £l4 5/-, 5 do. at £l4, 1 each at £l3 and £9 12/6, 3 fat heifers at £7 10/-, 2 fat cows at £9 12/6, 3 speved cows at £0 15/-, 15 dairy heifers at 6 12/- and 1 at £6, dairy’ cows at £S 10/-, £8 5/-, £6 hi- (2), 2 2-year steers at £7 15/- and 2 at £5 9/-, 12 store cows at from £5 to £4 5/-. The National Mortgage and Agency Co., Ltd., report as follows: —Owing to the very rough weather there was a very small attendance of buyers, and very little stock forward for an end-of-month sale. Transactions in both sheep and cattle were hard to effect. We sold ; Sheep—26 .small lambs at 13/- and 10 ditto at 11/-; full and failing-mouthed ewes at 11/2. Cattle.—2o empty heifers at £6, and 9 ditto at same figure, 50 sleets and heifers at £7 10/-, and 42 ditto at £6 10/-.

WiNTON STOCK SALE. Messrs Wright, Stephenson and Co., Ltd., report having yarded 2700 sheep at Winton sale on May 27, and cleared the whole oi the yarding at satisfactory prices. The bulk of the yarding consisted of good bigframed 4, 6, and S-looth wethers with a fair number of 2-tooths which met with keen competition. There was a fair percentage of mixed-sex lambs yarded, and although pi ices were not quite up to previous sales, they sold well. The following are some of our sales;-—57 2-tooth wethers at 30/-, 235 2-tooth ewes and wethers at 28/1, 20 fat ewes at 30/10, 28 2-tooth wethers 25/-, 131 fat wethers at 38/3, 98 2tooth wethers at 31/11, 70 ewes at 11/-, 579 4, 6, and 8-tooth wethers at 33/4, 200 m.s. lambs at £l, 134 rn.s. lambs at 20/8, 11 ewes at 24/9, 100 m.s. lambs at 14/2, 100 wether lambs at 39/-, 15 2-tooth wethers at 33/6, 17 fat ewes at 28/-, 142 m.s. lambs at 21/1, 42 ewes at 9/7, 480 8-tooth wethers at 32/10, 12 wethers at 28/1, 82 ewes at 10/-, 20 6-tooth wethers at 37/6, 13 cows with calves at £5 7/6, 1 dairy' cow £7 10/-, 18 steers and heifers at £4 7/6, 1 cow £ls.

The fortnightly sale at Winton was held on Thursday, and, despite the boisterous weather, there was a large attendance and entry, and prices were well maintained throughout. The National Mortgage and Agency Co., Ltd., report ; We sold heifers £ls, 2 at £l, £ll, £lO, £9; empty 7 cow £9; cow and calf £lO 12/6; empty cow £4; 2 calves £1 5/-; calf £1 12/6. Sheep—Cull lambs 10/-, 100 wethers 31/-, 51 ewes 13/6, 160 lambs 22/6, 125 18/5, 66 21/-, 29 wethers 12/-, 99 ewes 2, 4, G-tooth 20/-, 10 lambs 18/-, 102 23/6, 125 wethers 29/3, 75 4, 6-tooth ewes 24/4, 53 f. and f.m. ew’es 23/6, 25 ewes 24/6, 80 2, 4, 6-tooth ewes 27/9, 52 f. and f. ewes 11/-, 75 4, 6-tooth ewes 24/4, 46 s.m. ewes 21/6, 100 4-tooth wethers 13/7, 62 lambs 20/-. 207 4, 6. S-tonth ewes 28/-, 64 lambs 20/-, 160 22/6, 120 20/-, 90 2, 4-tooth ewes 23/-.

The Farmers’ Co.-op. Assn., Ltd., report: We sold; 2 cows £8 15/-, heifer £l, 2 bullocks £l3, 2 at £ls 10/-, 2 at £l3 5/-, 2 cows £9, 1 at £9 5/-, 11 steers £7, empty cow £5 16/-, heifer £2, IS steers £6 16/-, dairy cows £l3 10/-, £ll 10/-, £ls, £ll, £lB, £lO, £l7, £5 10/-. Sheep—64 2-tooth ewes 20/6, 107 2-tooth wethers 24/6, 220 4 and 6-tooth wethers 28/-, 151 2-tooth wethers 27/3, 40 ewes 16/6, 90 lambs 23/4, 7 at 10/-, 110 2-tooth ctve? 24/8, 400 wethers 33/6, 129 ewes 13/2, 63 wethers 28/3, 40 at 24/11, 40 at 33/3, 29 lambs 10/3, 40 6 and 8-tooth ewes 24/6, 16 ewes 16/6, 30 at 20/9, 33 at 25/-, 66 at 24/6, 22 at 25/4, 40 at 14/6, 26 lambs 16/7, 153 at 10/5, 74 at 21/6, 24 at 15/-, 118 wethers 25/6, 120 at 19/-, 136 at 25/6, 20 at 24/4, 32 at 35/2, 120 2-tooth ewes 19/-. LAND SALE AT BROWNS. There was a large attendance at the Browns Hotel, on Monday, May 17, when the National Mortgage & Agency Co., Ltd., in conjunction with Messrs Wright, Stephen-

son & Co., Ltd., offered for sale on behalf of the Browns Lime Co.. 5 freehold and leasehold sections. The competition was fairly keen and every section was sold. The following are the particulars. Lot 1, 81 acres 0 roods 10 poles to Mr William Kerr, at £lB 17/6 per acre. Lot 2, 118 acres 1 rood 1 pole freehold to Mr Wm. Wilson at £l7 10/- per acre. Lot 3, 133 acres 3 roods 3 poles 14 years leasehold to Mr M. T. Richards at 12/6 per acre. Lot 4, 39 acres 0 roods 39 poles 14 years leasehold to Messrs D. & J, Mcßae at 11/6 per acre. Lot 5, 50 acres 14 year leasehold to Mr J. McKillop at 6/- per acre. CLEARILNG SALE AT BRYDONE. The National Mortgage & Agency Co., Ltd., report having held a most successful clearing sale at Bryclone on Thursday last. Despite the weather conditions there was a large attendance of the public and the sale was in every way a success, Tne following are the principal puic.iasesls3 ewes to Mr H. McCall at 24/-, 240 ewes to W. McDonald at 23/7, 142 hoggets to H. McCall at 22/1, 134 f. and f. ewes to W. A. Davis at 14/-; cows sold at £2U to £l9. 15/-, 2 at £lB 10/-, £l7 15/- to £ls 10/-. Horses brought £42 10/-, £35 to £±y 10/-. Implements sold well—Roller £l7 10/-, tyne harrows £7 15/-, s.f. plough £33 10/-, d.f. plough £25, digger plough £ll 5/-, disc harrows £lO, binder £lB, drill £3O, dray £2l; and a large quantity of sundries at full market rates. CANTERBURY MARKETS. (Per United Press Association.) CHRISTCHURCH, May 28. The grain market generally kas been quiet. Very little wheat has come to hand, and offerings of oats are light, but this market has a better tone, although there is hardly any quotable change. Most of pea crop has now changed hands. Chaff.—Trade is still dull on account of the shortage of storage and railway trucks. The potato market remains stagnant, and as local requirements are full it is not expected that there will be any appreciable change until storage facilities improve and the embargo to Australia is removed. The ruling rates are from £3 15/- to £4. Very little trade has been done with linseed, and owing to the uncertainty of the Australian position no one is inclined to buy. The nominal price is £3l to £32 per ton. Onions continue to be purchaseable at country stations at £6 per ton, but little business has been effected. Barley.—The crop is now pretty well cleaned up on the market, and quotations remain stationary at 8/- to 9/-, according to quality.

AUSTRALIAN MARKETS. (By Telegraph.—Press Assn, —-Copy'rightl (Australian and N.Z. Cable Association.) MELBOURNE, May 23. Hides.—The market is very weak, with a decline up to threepence per pound all round. Barley, English, 7/B*to 8/-; Cape, 6/9 to 7/-; oats, Algerian, 6/3 to 6/4; potatoes, £l2 10/- to £l3 10/-; onions, £l3 10/to £l4. THE ENGLISH MARKETS. LONDON, May 27. (Received May 28, 8.35 p.m.) The Bradford wool market is quiet, awaiting the opening of the London sales. The wheat market is fairly active. Several Australian parcels have been sold at the official rates. Flour is in good demand. Only a small quantity has been released. Oats are firm. La Plata, on spot, 6/6. Beans are quiet. Pens arc firm. Tasmanian blues, 25/- to 27/- per cwt. New Zealand Duns, 125/per quarter. Sugar is unchanged. EUROPEAN EXCHANGE. EXTRAORDINARY FLUCTUATIONS. LONDON, May 27. The extraordinary' fluctuations of European exchange are attributed to anticipations arising from the coming financial conference. The franc touched 49.10; the mark 132; and the kroner 5.60, compared with 6.90. AMERICAN MONEY MARKET. The Guaranty Trust Company’s fortnightly report, dated April 2, states that an interesting feature of the money situation was (he shipment of 9,000,000 dol. gold to J. P. Morgan and Co., by the British Government. This metal has been sold to the Federal Reserve Bank, and has become a part of that institution’s gold reserve. Other shipments are naturally expected in anticipation of the. maturing of the AngloFrench 500,000,000 dol. loan next October. Such additions to the supply of gold, while tending to improve the ratio of reserves to deposits, do not improve the situation arising from the fact that the facilities of the Federal Reserve Bank are being used to enable the member banks to carry large quantities of unliquid paper. The necessity for credit restriction therefore continues. Call money rate 5 during the last week varied from 6 to 14 per cent, with renewals at 7 and 9 per cent. Time money for all dates is scarce and the rates for the last week have not fallen below 71 per cent.