COMMERCIAL.

Taranaki Daily News, 24 July 1922, Page 2

COMMERCIAL.

AN AUCKLAND LOAN. ■ '•'pH By Telegraph.—Press Assn.—Copyright. London, July 21. The issue of a £250,000 loan at 5% per cent, at par by the City of Auckland is expected shortly.—Reuter. LONDON WOOL SALES. Received July 22, 5.5 p.m. London, July 21. At. the wool sales there was a poor selection of merinos, but strong competition, especially by Germans and Swiss. Piner grades were slightly dearer, and others were fully firm. Crossbreds made full late rates.. New Zealand H.B.M.C. made 13%d. PRICES FOR OVERSEAS APPLES. Received July 22, 5.5 p.m?’ Jr *‘ London, July 21. The Baradine’s apples were mostly good, though some were rather wasty. AIT soiind apples are selling well. Stunners 18s, 20s, and a few at 225; French crabs and Jonathans 16s 6d; Scarlets 16s and 20s. The Cornwall’s New Zealand sold mostly for 13s -6d and 17s 6d. , DAIRY PRODUCE MARKET. NATIONAL DAIRY COMPANY’S CABLES. Mr. Ellison cables as follows: London, July 15, 1922.—" Butter market is extremely dull and we consider prices have been pushed too high with the result that stocks are not clearing. New Zealand 212 s to 2165, Australian 206 s to 210 s, Danish 212 s to 2145.

Cheese is in rather better demand. ” New Zealand, white 945, colored 90s; Canadian, same price.” White and Colored.—The difficulty bf 1 deciding whether to make white or colored cheese is ever present with the factories, and in changing from one to the other the' result seems generally to be that the dairy company is the loser. As a general thing the market can absorb about one third colored and pie balance white. The difficulty, lies, however, in the fact that some merchants are supplying a market that requires mostly colored and other merchants a market that asks for mostly white. This being the case dariy companies have, to some extent, to be guided by , the merchant who handles the output. The writer recently communicated With Mr. J. A. Ruddick, Dairy Commissioner for Ciinacla. with reference to this matter and he replies as follows:—"I have your letter of the 4th instant. I note what you say about the making of colored cheese. We have the same thing occurring in this country andyJhe factors’ that switches from one to the-other trying to catch the market misses it nearly every time. Many cheese factories in this country make colored cheese regularly, no matter what the demand is at the moment, while in other districts white cheese are made nearly altogether. The' province of 'Quebec makes much more white cheese than colored.. We have never made any attempt to regulate it and I do not think that it Is possible. The factories will enter into no arrangement or

be bound by any suggestion which might be made along this line. My advice would be to the New Zealand factories to make either white or colored and stick to It.” Shipping Contract.—The Conference referred to in our last letter has been held and certain conditions of the contract have been discussed and amendments recommended to the shipping companies. A further conference will be held in the near future when it is hoped the shipping comjkinies will be able to submit amended freight rates. South Africa.—The following appears in the South African Journal of Agriculture:—"ln 1918 over 20,000,000 lb of butter and G,000,000 lb of cheese wetie produced, and . to-day we have 71 creameries, 53 cream depots, and 135 cheese factories registered under the Dairy Industry Act.’ In regard to bur external trade in dairy products, fluctuations occur with good and bad years, but over a period of years it would seem that our exports of butter exceed our imports, and tha-t so far as cheese is concerned we have definitely met all local demands, and exports of this product are gradually on the increase.”