COMMERCIAL.

Taranaki Daily News, 10 February 1921, Page 2

COMMERCIAL.

BRADFORD WOOL. By Telegraph.—Press Assn.—Copyright. London, Feb. 7. Bradford wool is quiet with slight business in tops for the United States. EXCHANGE RATES. London, Feb. 7. Foreign exchange rates on London are quoted as follows: Paris 54.82 francs to £1; Stockholm 17.52 kroner; Christiania 21.22 kroner; Calcutta 17d to the rupee; Yokolama 29%d to the yen; Hongkong 29%d to iho dollar; Montreal 4.33 dollars; Berlin •240% marks. SYDNEY WOOL SALES. Sydney, Feb. 8. At the Sydney wool sales medium to good sorts showed continued and improved demand, chiefly for America and Japan, selling at 10 to 15 per cent, above December rates. Crossbreds also met fair competition, but on a lower buying basis. COMMONWEALTH LOAN. London, Feb. 8. The public subscribed 45 per cent, of the Commonwealth loan. The first dealings were made at three-quarters per cent, discount. NAPIER WOOL SALES. Napier, Feb. 9. The second wool sales opened to-day. Ne American or Bradford buyers were operating. Super wools declined from one penny to twopence on the last sale, but there was a good demand for pieces, bellies and tops. Fine crossbreds were neglected and super wools were not required. Buyers received cancellations which seriously affected competition. A feature of the sale was the large number of lots passed. Lambs wool, fine, sold at n%d. SOUTHERN GRAIN AND PRODUCE MARKETS. By Telegraph.—Press Association Christchurch, Feb. 8. The soft, warm rain which commenced to fall this afternoon was one that could better be done without at present. Last week there were reports of sprouting and discoloration among oats and wheat in stock, and the atmospheric conditions such as have set !<n will not improve the prospects. The latest break of dampness may retard harvesting operations, which were in full swing. A few odd lots of newly-thrashed oats have been tentatively submitted. They have not been good samples, and the best prices that merchants would offer were Is 6d and Is 9d. Growers would not sell at these rates, and as there is ' still a heavy surplus of last year’s Gartons it is not likely that there will be any substantial advance in the meanwhile on the present quoted pri.ee of 2s Id to 2s 3d. The cocksfoot harvest has been delayed by thp broken weather since Christmas, and the bulk of the seed from Banks Peninsula has yet to be marketed. It is reported that fairly extensive damage has been caused by the late heavy rains, and there are enquiries for cocksfoot at B%d, and 9d per lb is being offered where delivery within a week Is guaranteed. Only small Kts of potatoes have so fa®rbeen offered, as the digging of the main crops will not commence until next month. Growers do not yet know what sort of yield the main crops will give, but as the indications for potato-growing have not been as satisfactory as they were last year, a big falling off in last year's abundant output may be anticipated. A few transactions have been effected at round about £4 per ton. So far not much wheat has been LONDON MARKETS. HIGH COMMISSIONER'S CABLED REPORT. The Department of. Agriculture has received the following cablegram, dated February 5, from the High Commissioner for New Zealand, London : "Meat.—Supplies more plentiful, but prices maintained. Home killed, average prices are : Beef, Is ,5%d; mutton. Is 10%d; lamb, 2s l%d. Argentine chilled, In good supply at maximum prices, hinds Is; fores 8d per lb. New Zealand beef, slower trade at—ox hinds 9%d to 10%d per lb; fores, 7d to 7%d; cow, hinds 7%d to B%d; fores, 5%d to 6d per lb. New Zealand mutton and lamb realising maximum prices. Lamb very short supply, and in good demand "Butter—Government issue in good demand at £l4 18s 8d per cwt wholesale, and 3s per lb retail. Irish, in larger supply owing to removal of restrictions at £l4 to £l5 per cwt (2s 6d to 2s 8d per lb), with slow demand. Price, Danish, for this’ country last week was £l2 Gs per cwt (2s 2%d per lb), f.o.b. "Cheese.—English, scarce, at £8 8s to £9 per cwt (Is 6d to Is 7d per lb) ; Canadian, quiet, at £7 16s to £7 18s per cwt (approximately Is 4%d per lb), white, £7 18s to £8 per cwt. (approx. Is 5d per lb) colored. New Zealand in small supply at £7 13s 9d to £7 16s per cwt. (Is 4%d to Is 4%d per lb) for white, and £7 18s to £8 per cwt (approx. Is 5d per lb) for colored. "Hemp.—Manila market is dull and declining owing to a poor demand. “J” grade Jan-uary-March shipment sold £5O 10s per ton, February-April shipment quoted £5O per ton sellers. New Zealand market very dull. Values nominally, high points afloat, £5O, fair£4B per ton sellers. Spot, say, 10s per ton more, but no demand. "Wool.—Better tone at Bradford on account or demand for tops for United States before higher tariff comes in force. Improvement only temporary, and does not extend to piece goods. Price, tops, 64’s, 4s 8d; 56’s, 3s 2d; 40’s prepared, la 5%d per lb.”