COMMERCIAL

Southland Times, Issue 21096, 30 May 1930, Page 2

COMMERCIAL

FINANCE AND TRADE-

LOCAL MARKETS

Times Office, Friday morning, Fruit and Vegetables. ’

Mainly on account of the adverse weather which has had a derogatory effect on sales, business in the local: fruit marts has been on tlje slow side during the past week. A consignment of Island oranges reached the market in very mixed condition and much of the fruit had to be thrown out. Only medium values were received for anything saleable. A shipment of Fiji bananas also came to hand. The demand was limited, probably owing to the ripeness of the fruit.. Anything on the green side brought fair competition and here good values were realized. parcel of Samoan bananas are due here next week. Quinces are still finding favour. Supplies are steady, the demand is good and prices very satisfactory. The market is bare of lemons. Sydney mandarines, lemons and jam melons are due ex the Waikouaiti, about June 5. The apple market shows a little improvement. Stocks have been greatly reduced, and as the demand continues steady, prices have firmed slightly. Pears are plentiful and selling freely, but values are on the low side. A few tomatoes are still coming to hand. There is little or no demand and sales are difficult.

The vegetable market continues good. There are plentiful, supplies, and cauliflowers are experiencing a particularly good demand.

The market is well supplied with white grapes from Australia. The sample is a good one and good prices are being realized.

Currant prices are approximately as follows:—Dessert apples, ,5/6 to 10/6 case; cookers 5/- to 7/-; dessert pears 2/6,t0 4/per box; quinces to 3d lb; tomatoes, 2d to 5d lb;-grapes to 22/6 per case of 281bs; bananas to 30/- case; Island oranges to 25/- case for repacks; cauliflowers 4/- to 7/6 dozen; vegetable marrow, to 12/6 sack; cucumbers to 8/- dozen; carrots to 9/- per cwt; parsnips to 9/- cwt. GRAIN AND PRODUCE. Oats. —This market continues very firm and sales have been made of A grade Gartons at from 3/11 to 3/114 per bushel for June and July delivery, while for spread delivery to the end of September a halfpenny more has been obtained. Offerings from farmers are now diminishing and probably the greater part of farmers’ supplies have been disposed of to merchants. The prices to farmers show an increase on last week’s, A’s being worth from 3/1 to 3/2 per bushel, according to bushel weight, while B’s are worth up to 2/11 per bushel.

Duns are in demand at from 3/3 to 4/per bushel, according to quality, the latter price being for exceptionally heavy lines of dark Duns.

Wheat is offering fairly freely, but most of the lines forward do not suit millers, the grain being insufficiently seasoned. Those lines acceptable to millers are worth 5/9 per bushel for Tuscan; 6/- for Hunters, and 6/3 for Velvet. Most of the lines, however, through not being suitable for milling purposes, have to be put into store by merchants and either -held or sold as fowl wheat, with the result that the fowl wheat market has been flooded. The price to farmers for good lines not suitable for milling is 5/7 per bushel, on trucks, country stations.

Chaff: This market remains fairly even. There is plenty of chaff offering, with the price to farmers about £4 5/- per ton. Ryegrass: There Is very little business passing between, farmery and merchants at present, as most, of the farmers’ lines have been disposed of. Stocks held by merchants are very light. Shipping value is nominally about 6/9 per bushel for 27-28Ib seed, and value to farmers runs from 4/to 5/- per bushel according to quality. The average price for good quality is 4/6 per bushel.

Italian and Western Wolths are in demand, farmers’ values being 4/- to 4/3 per bushel. Potatoes: These have been offering more freely lately, but in sympathy with the position in Canterbury, the 'market is not keen. The general price on trucks to farmers is about £4 per ton, but good lines of Sutton's Supreme and King Edwards might command an advancement of 2/6 to 5/- per ton on this price. Market Report.

The Waipiata is due to leave Auckland on Monday next with sugar and general cargo, and should reach Bluff the second week in June. The British Columbia Packers Ltd. advise that the present stocks of 1929 salmon are somewhat lipiited and that as far as can definitely be ascertained there are very few first quality goods available of any species. The 1930 pack is expected to be a fair average in all grades, but owing to the increasing demand for salmon and the possibility of a shortage, particularly in the higher grades, buyers should cover their requirements immediately. New season’s Smyrna figs are now on offer for forward delivery. Prices are higher than last season’s opening prices, but considerably lower than those quoted for later shipments. Salt prices will be considerably affected on the next shipment due at Bluff about the end of June owing to the added rate of exchange, stocks are reported to be fairly low throughout the Dominion. Sago and Tapioca quotations for July/ August shipment are exceedingly low. Prices have been falling steadily during the last few weeks, r Current Prices. —Wholesale.—

Eggs, 2/4. Bacon, 1/3. Pollard, £9 15/-. Butter, factory 1/4; separator 1/-. Bran, £9 5/-. Flour, £l7 5/- to £l9. Oatmeal, £2B to £3O. —Retail.— Eggs, 2/8. Bacon, 1/6. Pollard, 12/6 per 100. Butter, factory 1/5 and 1/6; separator 1/3. Bran, 11/6 per 100. Flour, 25’s 5/9 to 6/3, 50’s 10/6 to 12/3; 100’s 20/6 to 22/9; 200’s 40/- to 41/6. Oatmeal, 25’s 9/6, 50’s 16/6 to 17/6. Onions, 121 b 1/-. (The above list of prices is compiled from a range of values obtained from the various merchants in the town. Where prices do not actually coincide a range is quoted.] Stock Market. The weekly sale at Lorne.ille was held under very wintry conditions on Tuesday, and the yarding all round was much smaller than that of the previous week.' The quality in the fat cattle section was not so good as usual, the yarding being com-

prised mostly of medium and mixed cows with a few good bullocks, which, however, realized prices equal to those of the last sale. The. large entry of fat cows eased slightly in price, while prime heifers remained firm. Practically no store cattle were yarded, and there was very little competition, prices remaining the same as at previous Sales. The fat sheep yarding was smaller than usual, with a large proportion of ewes of mixed quality, and a few pens of good wethers and fat lambs. Wethers improved somewhat in price, while fat lambs re ; mained firm. Considering the class of ewes offering, the prices realized were quite satisfactory, and, if anything, showed an improvement on those of the last sale. Entries were very small in the store sheep section, the yarding consisting of a good pen of m.s. lambs, a pen of 2-tooth wethers, and a few old and inferior ewes.

The following is a range of prices:— Fat Cattle: Prime bullocks up to £l5 5/-; medium weights £lO to £l2 10/-; lighter sorts down to £9; prime heifers up to £lO 5/-; medium weights £7 10/- to £9; lighter sorts down to £6-10/-; prime heavy cows up to £lO 10/-; medium weights up to £8 10/-; lighter sorts down to £5. Fat Sheep: Prime heavy wethers up to 28/-; medium weights 24/- to 26/6; lighter sorts down to 22/-; prime heavy .ewes up to 18/6; medium weights 11/6 to 14/6; lighter sorts down to 9/-; prime freezing lambs up to 20/-; lighter sorts down to 16/-. Store Sheep: Medium 2-tooth wethers 17/6; good m.s. lambs up to 17/-; lighter sorts 7/7; old ewes 5/- to 8/-. STONEY CREEK GOLD MINING COMPANY, LIMITED. The secretary of the Invercargill Stock Exchange has received the following report from the secretary of the above company: —We have to report that a washup took place on May 26, the return being 18ozs. The main drive has now been driven about 42ft. When the driving has reached a distance of 60ft cross cuts can be put in and more men will be employed. A large quantity of the wash treated for the last three weeks has been loose ground and not gold bearing. Now that driving is proceeding in the solid ground prospects for the future are very favourable. THE SHAREMARKET. Y’ESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 29. Sales on ’Change: Auckland City, 1940, 5} per cent. £96 10/-; Commercial Bank of Australia 21/7; English, Scottish and Australian £6 10/-; New Zealand Insurance 44/9; Devonport steam Ferry 22/(2); Northern Steam 13/9; New Zealand Breweries 52/3; Tooth’s (late sale Wed.) 34/9; Colonial Sugar £4l 5/-; Farmers Trading 8/9; Gear Meat 37/6; Bank of New Zealand 58/10. Wellington, May 29. Sales reported: Bank of New Zealand ord. £2 18/9 and £2 18/10; Christchurch Gas Co. (2 sales) £1 6/3; Gear Meat Co. £1 17/6; Huddart-Parker Ltd. ord. £1 18/6 and £1 18/7; New Zealand Breweries (2 sales) £2 12/-; Electrolytic Zinc ord. £1 5/9. Christchurch, May 29.

Sales on ’Change: National Bank of New Zealand £6 6/-; New Zealand Insurance 44/9; Staples Brewery 47/9; Toohey’s Brewery 24/-; Tooth’s Brewery 34/8. Sales reported: Commercial Bank of Australia 21/7; Commercial Bank of Sydney £2l 15/-; E.S. and A. Bank £6 10/(2) ; United Building Society (odd lot) 14/5; Toohey’s Brewery 24/-; New Zealand Breweries 52/3. Dunedin, May 29. Sales reported: Bank of New Zealand 58/9 (cum. div.); Okarito 2/6, 2/7 (prem.); Commercial Bank 21/8.

AUSTRALIAN GRAIN MARKET.

(United Press Assn.—By Telegraph—Copyright) (Rec. 8.5 p.m.) Sydney, May 29. Wheat in.bulk 4/7}; bagged 4/8. Flour: £lO 15/-. Pollard: £8 15/-. Bran: £B. Potatoes: Tasmanian £lO, Victorian £B. Onions: Victorian brown £5. Oats: White 4/3; Algerian 4/6. Maize: Yellow and white 5/-. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Co., Ltd. report having received the following cablegram from their London office under date 29th instant:—' Butter: New Zealand choicest salted 126/ -to 128/-. Market quiet. Cheese: White 77/- to 78/-; coloured 83/- to 84/-. Markets steady. TALLOW MARKET. Messrs Dalgety and Company, Limited, report having received the following advice .from their head office, London, under date of the 28th instant:— Tallow Market.—At the Tallow sales this week 1695 casks offered, 5 per cent, sold, market very depressed in sympathy with all other markets useless holding further sales until conditions better.