FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 630, 5 April 1929, Page 10

FINANCE & MARKETS

TRADE IN PRODUCE AMPLE POTATO STOCKS ONIONS FOR AUSTRALIA Sun Office, 9 a.m. Healthy activity is reported from most sections of the grain, seed and produce trade. Arrivals of potatoes from the South ! ever the week have been fairly heavy, j and the spot market at the moment ' tends to be over-supplied, as local j growers arc still able to send supplies forward. Yesterday good quality I Pukekohe tubers were selling in the j marts at 4s a sugar sack. The keeping qualities of the Can- j ferbury potatoes is not the best, as the • rop down there is not quite matured. ! V number of recent consignments have required picking over. This defect should be remedied within the next tew weeks or so. Otherwise, the Canterbury tubers are reported to be in -ood order, free from blight, and of good size. The forward market has eased over 1 the past fortnight and this should be reflected on the spot by the middle of the present month, when indications aro that Auckland through store quotations will range round 8s a cwt, compared with a market up to 9s 6d a cwt at the moment. Omon Market Firm The onion market is very firm with holders not. showing any inclination to rush supplies on the market at present prices. A few small parcels have como to hand from Canterbury during the week, but Pukekohe growers still hold enough to satisfy the needs of the Auckland market for several weeks. A steady inquiry from Sydney is the principal factor in making for the strength of the market. Sales have been made for shipment next week on a basis of £8 a ton f.0.b.. Auckland, i Through store Auckland, good quality onions are selling at 9s 6d a cwt. The wheat market remains very firm, with growers in the fcSouth ap- I parently satisfied to harvest and hold unless they can secure to-day’s firm ; market price. Through store Auckland. quotations are unchanged at Is; 9d a bushel. Better Demand For Maize Maize is receiving slightly more attention. The colder weather has brought about a slight increase in the demand and merchants here would not be surprised at a slight advance in the market. Everything depends. of course, on the amount of grain held in Gisborne, but, considering the firm tone of the w’heat market, and the arrival of the colder weather making maize a more desirable grain from the poultry feeders point of view, a rise of ;td a bushel would not be unexpected. Kxperience over the past season, however. has made merchants rather chary about forecasting the maize position. The market for oats and chaff is very firm. Garton oats sell through store, Auckland, at 4s ad a bushel, with A'a 3d dearer. Chaff is steady at £9 J ll*s a ton through store. Demand For Algerian Oats A feature of the spot cereal market j over the past week or so has been an I < \traordinary demand for Algerian oats for autumn sowing. Merchants have been hard put to meet orders from the country. Through store, Auckland. the grain sells at 5s 9d a bushel. .Merchants are still kept busy dispatching orders for grass and clover seeds for autumn sowing, but this trade is expected to ease within the next week or so. There is still a steady demand for fertilisers. SYDNEY PRODUCE PRICES (A us trail an and N.Z. Press Association) SYDNEY, Thursday. The following are to-day’s quotations on rhe Sydney produce markets:— Wheat. —Steady, 4s at country stations, 4s 7d ex truck, Sydney. Flour.— Jt) 11 10s. Kran.— £6 ss. Pollard.— JA> 10s. Oats. —Algerian. 3s 9d. F*otatoes.—Tasmanian, £l6 10s. Onions.—Victorian, £ll. The following are the quotations at Adelaide: — Wheat.—Growers* lots. 4s fid. Flour.—Bakers’ lots, to £lO 12s 6d. Rran.— £6. Pollard. —£6 7s fid. Oats. —2s 6d to 2s Bd. WAIHI MINING COMPANY (Special to THE SUN) WAIHI, Thursday. The following information fias been cabled to the London office of the 'WJaihi Goldmining Company:— No. 9 Level. —For the purpose of reaching Peach winze 44ft has been driven north-east from Bulls crosscut on the north leader, the assay value being 10s a ton. The reef is wider than the drive. We have driven to the east on the Regina lode 18ft. the assay value being 22s a ton. WHEAT IN LONDON f 'Australian and N.Z. Press Association) LONDON, Wednesday. Wheat.—Cargoes showed a quiet tone with quotations occasionally higher. Parcels advanced 3d, Liverpool futures: May delivery, Ss lid a cental; July, 9s 2 1-Sd; October, 9s 4Ad. CHICAGO WHEAT (Australian and A./f. Press Association) Reed. 9.21 a.m. CHICAGO, Thursday. Wheat.—May, 1 dollar IS 3-S cents a bushel; July. 1 dollar 21 7-8 cents; September, 1 dollar 24 cents.

FRUIT AND PRODUCE WELLINGTON MARKET REPORT FROM BROKERS Messrs. 1-aery and Co.. Ltd., Thompson Bros., Ltd., George Thomas and Co.. Ltd., Townsend and Paul, and Bowie and Co., report as follows: Increased supplies of both apples and pears have been coming to hand during the past week, consequently values are much easier. Quinces continue in excellent demand and consignments recommended. Recent values are as follow: Apples: Choice Coxs, 8s t olOs; Deliious. 5s to 6s 6d; Jonathans, 4s 6d to 5s 6d: Alfristons, 5s to 6s; Duns, 4s <>d to 5s 6d: others, 4s to 5s a bushel. Pears: Choice Coles, 5s to 6s 6d: Xelis, 4e 6d to 5s 6d; Vicars, 5s to 6s: Diels. 4s to ss; others, 2s 6d to 3s 6d a bushel. Grapes: Choice. Is 2d to Is 4d; outdoor grown, 6d to 9d a lb. Passions: Choice, 5s to 6s; others, 3s to 4s a box. Cucumbers: Choice, 4s to 5s a banana case. Cape Gooseberries; Choice dry. 4s Gd to 5s a half case. Quinces: Choice, 8s to Os: others, 6s to 7s a bushel. Lemons: < 'hoice, 14s to J6s; others, 10s to 12s bushel. Tomatoes: Choice Hutt Red, 3s to 3s 6d, coloured, 2s 6d to 2s 9d a half case. Ktimeras: Choice, 7s to 8s a sugar bag: Hs to 13s a banana case. Potatoes: Choice graded, 7s to 8s a cwt. Onions: Choice graded. 7s to 7s 6d a cental bag. (been peas: Choice, 15s to 18s; others, 8s to 9s half sack. Cauliflowers: Choice, 12s to 14s: others, 7s 1o 8s a sack. Cabbage, Savoy: Choice, 6s to 7s: others. 4s to 5s a sack. Pumpkins: Choice Red, 7s a sack. Pie Melons: Choice, 6s to 8s a sack. Water Melons: Choice, Is 6d to 2s 6d each. Eggs: Fresh, Is lOd to 2s a dozen. Fowls: White Leghorns, 4s to 4s 6d; heavy table breeds, 6s to 8s a jta.iT. Ducks: Young Indian Runner, 7s to 8s; heavy breeds, 9s to 31s; old ducks, 5s 6d to 6s a pair. Turkeys: Prime, Is 2d to Is 3d a lb. Dressed Porkers: old to 6J a lb. Butter: Farmers’ Separator or milled good. Is 2d to Is 3d a lb.

BACK TO NORMAL | CALL MONEY RATE DROPS f Australian and. N.Z. Press Association / Reed. 9.21 a.in. NEW YORK. Thursday. The interest rate for call money for renewal opened at 10 per cent, to-day and closed at 6 per cent. BUTTER AND CHEESE BOARD’S WEEKLY REVIEW The New Zealand Dairy Produce Board i has received the following market report I from its London office, dated March 28, I Prices for the previous week being- in parentheses:— Butter .New Zealand: Salted, 162 s to 164 s (162 s to L66s); exceptional, 1665; unsalted. l6Ss to 170 s, up to 172 s (J6Ss to 1725). Deliveries of New Zealand this week, 1.550 tons. In store, 5,700 tons. First whey, 154 s (158 s); second whey, 152 s (1565). Australian: Finest salted, 15Ss to 160 s, up to 162 s (161 s to 1645); unsalted, 162 s to 164 s up to 166 s (162 s to 16Ss). Argentine: Finest unsalted, 156 s to 158 s, up to 162 s (158 s to 1625). Danish: f.0.b., 156 s to 157 s (160 s); spot. I 164 s to 168 s (168 s to 170 s). Polish: Ls2s. Market slow and not regular. Danish ' retail price reduced to Is Bd. New Zealand retail price, unchanged, at Is Bd. Cheese New Zealand: White, 88s to 89s (88s to 89s)); coloured, 89s to 90s (89s to 90s). Deliveries New Zealand this week, 17,871 crates. In store. 121,113. Canadian: White, IOSs to 112 s (108 s to j 112 s); coloured, 106 s to 110 s (106 s to 1 110 s). Australian: White, 86s to 87s (S6s to | S7s); coloured. 87s to SSs (87s to SBs). Market quiet. Retail prices unchanged, j English: Finest farmers'; 142 s to 144 s > (142 s to 1445). Shipping Arrivals The Tekoa finished discharging cheese J on March 22. The Maimoa finished dis- j charging butter on March 23. The Surrey i commenced to discharge cheese on March 23 and finished on the same day. The Surrey commenced to discharge butter on March 21 and finished on March 27. The Remuera finished discharging butter on March 25. The Port Hobart commenced to discharge cheese on March 25 and finished on March 26. The Port Hobart commenced to discharge butter on March 26. Continental Supplies The German market is slow owing to financial stringency and the high rate of interest. More Danish butter, therefore, is coming to the United Kingdom. The weather has much improved. The .south of England is dry and the west and north of England are in good condition. Ireland reports that prospects are exceedingly good. The first shipment from Siberia is expected to arrive in one or two weeks. North American Values The board has also received advice from its agents in Canada, as follows: Butter: New York, 463, cents (Is lltd): Montreal, 42 cents (Is 9d). Stocks in I Canada at March 31 were 12.852 boxes j At the same time last year the amount I was 25.596 boxes. Merchants* Reports Merchants report receipt of overseas cables as follow: Amalgamated Dairies, from their London house, under date April 4: —Butter: Anchor, 1645; unsalted, 170 s; demand improving after irregularity when finest butter sold down to 160 s; Danish butter, 1545, after touching 150 s f.o.b. Cheese: White, S6s: coloured, 87s; market quiet. Dalgety and Company, Limited, from their London house dated April 4:— “Butter—The market is extremely dull; New Zealand finest salted, 160 s to 1625: Danish. 162 s to 1645; Australian finest unsalted, 160 s to 1625; salted, 156 s to 158 s: G.A.Q.. 150 s to 1525. Cheese —The market is slow; New Zealand white, 86s; coloured, S7s; Canadian white, 108 s to 112 s; coloured, 106 s to 110 s; Australian white, 85s; coloured, 865.” OTAGO RAM FAIR DUNEDIN, Thursday. The Otago ram and ewe fair was held ! at Burnside to-day. There was a large ' attendance of vendors and buyers and ! keen interest was shown in the sale. The total entries numbered 1.123 (including 530 Romney. 304 Corriedale and 222 I Border-Leicester), against 833 last year. Stud Romneys were few in number. The top price was 73gns and another animal was sold at 56gns. Others brought from 14gns to 25gns. Stud Border-Leieesters were not plentiful. but the demand was limited. Prices ranged from 16gns to lligns. The demand for stud Corriedales .was : dull. Romney flock rams were a very fine i selection and competition all through was j keen. Extra good brought 25gns and 26gns and others down to 12£gns. Border-Leicester flock rams were few j in number and brought llgns. Best Corriedale flock rams sold at > ! Signs. There were only one or two entries of ; Southdown rams,* which realised as high, -ns. ___„

NORTHERN DAIRYING

COMPANY ACTIVITIES The Maungaturoto dairy factory las' month produced 27 tons, against 26 ton for March, 1928, making the total for ihe season 411 tons, an increase of 10U tons. The Whan gar c-i Co-operative Dairy Company has experienced another very successful month, the output for March being I'll tons. against 91 tons for March, 1928. The output for the season amounts to 3.299 tons, compared with 1,010 tons for the corresponding period last season. Over 16 tons of butter were made at the Port Albert Company’s factory last month, compared with 10 tons lOcwt. in March, 3 928. To the end of March. 220 tons llcwt. have been made, against 167 tons for the same period last season. The Northern "Wairoa Dairy Company’s output of butter for the season to the end of March indicates that the year's output will surpass by a substantial margin the record created last season. With two months still to go last year's total for the season has been exceeded by 11! tons. During March, the output totalled 191 i tons, compared with 1«71 tons in March, 19^8. The output of the Oruru-Fairburn factory at; Komiti to March 15 was 283 tons, an increase of 15.9 per cent., compared with the corresponding period of last season. The total output last season was 253 tons. With three more months to run to complete the. season this year’s output will constitute a got record for the company.

WELL-KNOWN BRITISH CO. BRANCH OPENED AT AUCKLAND With a view to opening- up a branch for his firm in this city, Mr. W. Ingle, New Zealand manager for C. G. Wakefield and Company, the well-known Brit«sh manufacturers of the famous “Castrol" motor oils, arrived in Auckland this week. The company's branch stores and offices will be situated at 10-12 Quay Street, from which distribution throughout the Auckland Province will he directed. The company’s head office for r? . Zealand is situated at Wellington. it is interesting to remember that the pie sent governing director of the firm, bir Charles Wakefield, is a descendant OL t ! le founder of this Dominion Edward Gibbon Wakefield. PUKEKOHE STOCK SALE (From, Our Own Correspondent) PUKEKOHE, Thursday. The fortnightly sale of Alfred Buckland and Sons was held at Pukekohe to-day. pen » ned J n large numbers and sold at late rates. The dairy stock offered are S — n y ° f a fair quality. Quotations Dairy.—Best Jersey cows, close to profit, sold from £ll 10s to £l4; Shorthorn cows, near profit, £8 10s to £11; backward cows, £o 10s to £7 10s; Jersey cows, close to profit, £ll to £l3; Shorthorn heifers, close to profit £9 to £ll 10s: one extra choice Shorthorn heifer sold at £l4: best 2 to 3-year-old Jersev heifers running with bull, £7 10s to £9; July and August heifer calvers, £5 10s to £6 10s. Beef.—Heavy prime cows, £9 to £lO 12s 6d; lighter prime, £7 to £8 10s: others, £5 to £6 15s; light prime steers, up to £ll 15s; old and boner cows, £1 5s to £ 4 10s. Stores.—Polled Angus cows and calves sold up to £l2 ss; bulls, £3 7s 6d to £7. Pigs.—Choppers, £1 10s to £2 14s; heavy baconers, £2 13s to £3 18s; medium baconers. £3 7s to £3 11s; lighter, £3 to £3 4s; heavy porkers. £2 11s to £2 16s; light and medium, £2 to £2 7s; small and unfinished, £1 8s to £1 15s; best stores £1 3s to £1 7s; small, 17s to £1; slips, 11s to 13s; weaners, 3s to 9s; sows in pig, up to £1 10s; boars, fit for service, £1 5s to £1 15s.