COMMERCIAL.

Taranaki Daily News, 11 September 1922, Page 3

COMMERCIAL.

LONDON MARKETS. GLUT OF PLUMS AND POTATOES. By Telegraph.—Press Assn—Copyright. Received Sept. 10. 5.5 px<n. London. Sept. 9. Cargoes are firm on better American advices and improved Continental demand. An offer of-50s for Australian on passage was refused. Parcels are flrm. with 3d to 6d advance. Australian afloat Is quoted at 50s. Owing to the heavy crops of p’ums and potatoes vegetable growers are obtaining extremely low prices. Some are allowing the plums to rot on the trees and potatoes to rot in the ground, as the returns would not pay the cost of marketing. A Bedford farmer sent a ton of vegetable marrows to Birmingham at a cost of 195 s and received 6d after paying railway and other charges. An Essex orchadist sent 200 lbs. of cooking apples to the London market and ther realised 2s 6d. leaving the grower to pay, for the packing, transport and market charges. Sheep.—Canterbury light 7%d, medium 6 7-Bd. heavy 6%d; North Island 6 3-8 d to 6 5-8 d; New Zealand ewes 5 313 d. Australian firsts 5 3-Bd. seconds 5 3-Bd. ewes 5%d; Sciuth American light 7d, heavy 6d. ewes 5 l-Bd. Lambs.—Canterbury light UUd. medium 11 3-Bd. heavy 10 l-Bd. seconds ltd; Southland ll%d; North Island selected 11 3-Bd. ordinary lid. South American light heavy 9%d. Frozen Beef.—New Zealand fores 3%d, hinds Australian hinds 4%d ; chilled Argentine fores 3%d. hinds 7%d; others unchanged. Cotton.—October shipments 12.03 d. Rubber.—Para 10%d, plapjMtion 7 l-8d to 7V*d, smoked 7*4d. Jute.—October-November shipments, £35 10s per ton. Hemp.—September-November shipments, £32 10s per ton. Copra.—September - November shipments, £22 103 per ton. Linseed oil, £34 lOs-agr ton. Turpentine, 99s 9d THE WOOL MARKET. Received Sept. 9, 5.5 p.m. London, Sept. 8. The wool sales continue very firm, with splendid support front all sections. Prices are fully maintained. DRAFTS AND TRANSFERS. NEW RATES FIXED. Received Sept. 9, 5.5 p.m. London, Sept. 8. The Associated Australian banks have fixed the selling rates on Australia and New Zealand for drafts and mail transfers at ten shillings and cable transfers at 17s 6d premium. The rate of purchase of documentary bills on Australia and New Zealand has been reduced to two per cent, discount on sight bills, with an increase of a half per cent, for every additional thirty days. All alterations commence on September 13. MEDITERRANEAN DRIED FRUIT. Received Sept. 9, 5.5 p.m. London, Sept. 8. The Greek dried fruit trade is disorganised owing to the disturbed conditions in Smyrna. Only one cargo of fruit has been dispatched, and consequently the market is very firm. Australian three crown currants are selling at 67s to 68s, and sultanas at 110 s.