COMMERCIAL.

Taranaki Daily News, 21 April 1921, Page 2

COMMERCIAL.

THE WOOL MARKET. By Telegraph.—Press Assn—Copyright. London, April 18. In reply to a question in the House of Commons respecting the salary of the "Bawra” chairman, Mr. Halton Young replied that the “Bawra” was an independent trading company, and the Government was not concerned regarding the salaries paid. The Gov? ernment had not approached the Australian Government regarding the purchase of this year’s dip, and did not Intend to re-lmpoSe control.—Aus.-N.Z. Cable Assn. The New Zealand Loan and Mercantile Agency Company, Ltd., Stratford, iavfe received the following cable from their London house under date 15th inst.: —"Wool: Average current London value of the undernbted descriptions of New Zealand greasy wool:—‘ Good merino 15d, medium do. l£%d, Inferior do. 9%d, fine crossbred 13d, medium do. B%d, coarse do. (40’s) 6d, coarse do. (36’s) 5%d. Sales closed. Tone of market better owing to more active Continental competition. As compared with prices at April 6, merino and fine and medium crossbred are about 5 per cent, dearer." PRICE OF AUSTRALIAN WHEAT. London, April 19. The c.i.f. prices of Australian wheat have been reduced to 76s f.a.q. A grade 71s, B .grade 655.

BRITISH TRADE AND FINANCE. London, April 18. Bradford Wool. —Rather better tone and more Inquiry. Foreign exchange rates: Paris 54.77 francs, Stockholm 16.64 kroner, Christiania 24.70 kroner, Berlin 245 marks, Calcutta 15%d to the rupee, Yokohama 29%d to the yen, Hongkong 30d to the dollar, New York 393% cents, Montreal 444% cents. Tte Stock Exchange has a much improved tone on the Labor developments. It is firmer all round, especially gilt-edged securities and home rails. Consols are quoted at £4B 15s. PRODUCE ASSOCIATION REGISTERED. London, April 19. The New Zealand Produce Association, with a capital of £lO,OOO has been registered. The directors will be appointed by the Co-opera-tive Wholesale Society and the New Zealand Producers’ Co-operative Marketing Association. i LONDON MARKETS. HIGH COMMISSIONER'S CABLED REPORT. The Department of Agriculture has received the fallowing cablegram, dated April 16, from the • High Commissioner for New Zealand, London: — "Meat.—Trade slow, demand is limited and prices have tendency downwards owing to large supply of importer, beef. March shipments of frozen and chilled beef to Great Britain exceed 700,000 quarters. New Zealand mutton, light-weight. B%d to 9d per ip; teavy-weight difficult to sell at B%d per lb. Lamb, ' new season's, Is 2d to Is 3d per lb; from America, Is o%d to Is Id per lb; Government cut laonb, no demand at Is per lb, and reduction of price is under consideration. New Zealand beef, prices Irregular, ox, hinds 6d to 6%d, fores 4d to 5d iper lb, but inferior quality and cow selling about as low as 4% and 3d per lb. "Butter.—English, price has declined to £l6 16s per cwt. (3s per lb); Irish, new, £l4 10s to £l4 15s per cwt. (2s 7d to 2s 7%d per lb) ; Danish, demand is decreasing

on account of high price, and price has declined to £l3 16s to £l4 2s per cwt. (2s 5%d to 2s 6d per lb). Official quotations are: New Zealand, £l3 6s to £l3 10s per cwt. (2s 4%d to 2s 4%d per lb) : Australian, £l2 8s to £l2 12s per cwt. (2s 2%d to 2s 3d per lb) ; Argentine, £l2 2s to £l2 12s per ctot. (2s l%d to 2s 3d per lb). "Cheese.—Canadian, stocks small, white, £7 4s to £7 18s per cwt. (Is 3%d to Is 4%d per lb), colored £8 to £8 2s per cwt. (approximately ls-5d per lb); New Zealand, white, £6 14s to £7 2s per cwt. (Is 2%d to Is 3d per lb), colored £7 10s to £8 2s per cwt. (Is 4%d to Is 5d per lb) ; Australian, white, £6 14s to £7 per cwt. (Is 2%d to Is 3d per lb), colored £7 14s to £7 18s per cwt. (Is 4%d to Is 4%d per lb). On account of strike conditions quotations are governed principally by availability for immediate delivery. "Hemp.—Manila market firmer towards end of this week, with little better demand. "J” grade, May-January shipment sold £37 per ton early this week, and up to £35 10s per ton later. February-April shipment sold £4O 10s per ton. Output January 1 to March 31, 187,000 bales against 341,000 same period last

year. Shipments to Great Britain 41,000 bales v against 126,000 hales. Quality of shipments of lower grades very unsatisfactory for some time, and heavy allowances have had to be made. New Zealand market continues dull In absence of consuming demand. Quotations nominal, high points, spot, .£44 per ton; April-June shipment, £4O; fair, £4O and £3B per ton respectively. "Wool.—Sales closed yesterday. Towards end there was improved demand, v.hlch .has resulted In larger proportion of offering being sold. Principal support came from France, Belgium, and Germany though Home trade took fair quantity, notwithstanding anxiety caused by threatened strike. Average closing values were: GO”s to 64’s (merino), Is to Is 2d per lb; 56’s (super half-bred), ll%d to Is Id per lb; 50’s (half-bred), 9%d to lid per lb; 48's (fine crossbred), 8d to lOd per lb; 44’s to 46’s (medium crossbred), 6%d to B%d per lb; 36’s to 40’s (coarse crossbred), 5d to 6%d per lb. Total offerings were 52,000 bales privately owned, of which--42,000 were Australian and 6700 New Zealand. Of these following were sold: Australian 32,200 bales, New Zealand 5000 bales.” CANTERBURY MARKETS. Christchurch, April 19. ■ There is a shade healthier tone in the oat market, although nothing of a nature to justify optimism. Business has taken place at 2s 9d f.o.b. 5.1., equal to 2s to 2s Id at country stations. Paucity of offers from growers and the reduction of existing stocks combine to -make the slight firming. With thrashing rates at 6d per bushel, there is little encouragement for farmers to thrasn at the ruling prices for oats. Temporary activity is displayed in the pea market, due to orders for April shipment. The demand has been stimulated for the time being, and up to 4s (id at country Stations has been paid, a price apparently in advance of what the present position In the Home market justifies.