COMMERCIAL.

Taranaki Daily News, 4 August 1921, Page 5

COMMERCIAL.

THE PRICE v OF STEEL. REDUCTION IN AMERICA, Received Au£ust 3, 8.15 j*.nu By Telegraph.—lrens Association. New York, August 2. The United States Steel Corporation announces further reductions in atee‘. prices of from three to ten dollars a ton, in order to meet the competition of smaller and independent compmies. This constitutes the third reduction in a few months.—Aus.-N.Z. Cable Assn. LONDON METAL MARKETS. Received August 3, 10.30 p w. London, August 2. Copper.—Spot, £7O Cs sd; forward, £7i 12s 9d. Lead: £23 12s 6d and £23 Cd. Spelter: £25 5s and £2O 2s 6d. Tin: £IM 12s 6d ar d £ 12a Silver: 381-8 d per ounce. LONDON MARKETS. SIGH COMMISSIONER'S CABLED REPORT* The Department of Agriculture has reestved the following cablegrams, dated July 29 and 30 respectively, irom the Hit'll Cvnuulsstaner for New Zealand, Londju: "Wool sales closed last night. Good attendance of buyers throughout spec’?.lly from CcmN tlnent. During the series 40,400 bales of New Zealand free wool were offered uud 85 per cent. sold. B.A.W.R.A. catalogued total of 73,112 bales, including 12,614 New Zealand, but during ton withdrew 12.uM Inles of description least in demand, and large supp*/ of crossbred* resultel in reduction in prttn towEirds close; this reduction caused betM( demand. Compared with last sale, prices declined from 7¥j per cent, in case of merinos, to as much as 15 per cent, to Zl

per cent, for coarse crossbreds. Average Ctofc Ing values were - 60’s to G4'b (merino), Jund IS to July 29, Is to Is 4d; June 18, la M to Is sd; 56'3 (super haltbrea). June W « July 29, Is to Is 3d; June 18, Is Id to la 4<l; 50's (halfbred), June 18 to July 29, to 9%d, I.me Id, 10d tc Is; 48's (flue /rosabEorft, June 18 to July "9, 6%d to 8d; June 18, 9d to lid: 44's to 46’b (medium crossbred), Juns 18 to July 2S, 5d to CM; June 18, 6Mrd to St-id: 36’s to 40’s (coarse crossbrtda), J use IS to July 29, 4%d to 5%d; June 18, 5»4<l to 7d. Next series will open ou August 86.

Market shows very little ctango. Demand continues for New Zealand laub. Quotation* are;—New Zealand mutton, tendency weaker generally: Light-weight, July 29, 7%d to BMrd; July 23, Bd, B%d; July 15, B>/>d, M. Heavy-wes"ht: July 29, S J /1, e^d 1 July S 3, 6d, 6%d; July 15, 6d, Sy-d. Nev Zealand lamb: New season’s. .July 29, is, la 2d; July 23, Is Id, Is 2d; July 15, Is Id, Is 2d. Heavyweight little weaker at: July 29, IJd to 1»< New Zealand beef: First-class Quality, ot, hinds, July 29, sd. 7d; July 23, 6d; July 15, fld, s%d; fores. July 29, 23, 3>,d: July 15, 4(1, 4 -,<l Aixentlu. cllllled beef remains In fair demand: Hinds, July T 9, 9d, 10%d: July 23, ’.od, lid; July 15, lid. Fores, July *29, 4d, sd; July 23, sd; July 15»)

Market quieter, and quotations dUeloed weaker tendency. Hciae nuppUea decreasing steadily and vary U.tle Irish available at irregular prices. Danish in less demand at: July 29, 260 s to 2S4s per cwt. (2s 3%d to 2> 4’/<d per IL) ; July 23, 266’ to 27(»s per cwt. (2s 4%d to 2s 5d per lb) ; July 15, 242 s to 244 s per cwt. (2a 2d per lb). New Zealand first and second grade: July 29, 259 s to 2621 per cwt. (2s 3*4(1 to 2s 4d per lb) July 2S, 259 s to 262 a per cwt. (2s 3%d to 2» 4d per lb) • July If, 221 s to 225 s per cwt. (is JL%d to 2s per lb). Australian, demand quiet. First and second grade. July 29, 236 s to 241 s per cwt. (2s to 2s l%d pet lb) ; occasionally 245 s per cwt. (2s 2!4d pur lb) ; July 23, 239 s to 241 s per cwt. (2 l%d to 2s l%d per lb): July 15, 201 s to 294 s per cwt. (Is 1 ',6<f to Is 9%d per lb). Free AusirnHun, ticcor&ug to giado: July 29, 22(1s tc 245 s pe* cwt. (la ll%d to 2s 2!4d per lb); July 23, 22 »s to 245 s per cwt (Is li%d to 2s 2’id per Ifc). Argentine, salted and unsalted: July 295, 214 s to 228 s par cwt. <ls Ud io 2s o%d per lb) ; July 23. 217 s to 2oos per eWt. (Is 11 %d to U%d per lb); July 15, 172 s io 184 s per cwt. (Is 6M:d to Is 7%d per lb). Free argentine: July 29. 214 s to g24s per (In Ud to $ per lb) ; July 23, 214 s tc 224 s per cwt. (Is lid to 2s per lb). (Government © st?re price: July 29 to August . New Zealand, Zs7a per cwt. (2s 3-, ; d per lb); Australian. 240 s cwt. (2s l%d per lb) • Argentine, 225 s per cwt. (?s per lb). July £2 to July 28 and July 15 to July 2J : New Zealand, 257 s per cwt. ,2s B>4d per lb) ; Australian, 240 s per cwt. (2s l%d per lb) ; Argentine, 225 s per cwt. Us per lb.).

Market remains qjiet and prices fnogulav. English in short supply. Finest furmers, 145« to 150 s per cwt (Is 3%a to Is 4d per ib|. Canadian: July 29, .O/te, 134 s to Lbs per cwt. (Is 2’4d per lb); occaslon.aliy 138« per

cwt. Il» 2’/£»d per 10) ; colored, 1325, 138 s per cwt. (is 2d, is per lb): July ‘3 white, 130 s, 134 s per cwt. (is 2d, Is 2’4d per lb) : colored, 130 a, 134 s per cut. (Is 3d, Is 2«4d per lb). July 15; white. 128,, 13tj (Is l%d, li 2%d per lb) ; colored. 1265, 1 J2s wt. Is 2d per lb). New Zealand-: July 29, white, 132?. 136 s per cwt. (Is 2d i . 2fed per lb) ; colored, l?6s, 132. jv cwt. (Is Ifed. Is 2d per lb). July 23, white, 1365. 138 s per cwt. (Is 2%d per lb) ; colored, k3os, . J2s ptc cwt. Us 2d per lb) ; July 15, white, 1345, 130 s per cwt. (Is 2 J /?d per lb); colored, 130?, 134 s per cwt. (Is 2d, Is 2’Ad pei lb). trallau: July 29, white, 1245, 130 s per cwt. (is ls 2d per lb); colored, 12us, 12ls pur cwt. (Is G-iid, Is Ifcd per lb). July 23: White 128 s, 130 s per cwt. (Is 1/4d per lb) ; colored, 120 s, 128 s per cwt. (Is o%d, Is l%d per lb.).

Manila market steadier and holders firm. J grade June-August stopment to AuguatOctobei shipment quoted at £37 per too, and sales have been made at this price for JulySeptember shipment New Zealand market quiet and •small business doing High points, spot, quoted at £4O 10s; July-September'ship-ment. £36 10s per ton; fair, spot, quoted at £36; July-September shipment, £33 per ton.