COMMERCIAL

Gisborne Times, Volume XXVII, Issue 2552, 13 July 1909, Page 5

COMMERCIAL

HIGH COMMISSIONER’S CABLE

(Pur Press Association.) WELLINGTON, July 12. The High Commissioner’s cable, dated London, July 10, states: — The mutton market is very dull. The supply exceeds the demand. Stocks are accumulating, and the situation is alarming. Canterbury is at 2-ld, North Island 2£d. The lamb market is very unsettled, and there is a dull sale for heavy carcases of lamb. The .stocks of lamb on haul are heavy, and are widely distributed among agents, who are pushing sales. The weather lately has been, very unfavorable to the sale of Jamb. The stock is accumulating. Canterbury lamb is at and North Island 3£a. The beef market is firm. There is a better demand. New Zealand hindquarters are at 4§d, forequarters 3d. The butter market is steady. Hosiers are firm. Choicest New Zealand is at 106 s per cwt, Danish 112 s, Siberian. 102 s. A question is to be asked in Parliament concerning Abe excessive moisture in New Zealand butter. The cheese market is firmer. New Zealand is quoted at GOs per cwt, and Canadian at 58s. The hemp market is steady. Holders are firm. There as little demand. New Zealand good fair on spot is quoted at £23 10s, fair grade on spot £22 10s, fair current Manila on spot £23. JulyAugust shipments, New Zealand good to fair £23, fair grade £22 os, fair current Manila £22 10s. The Manila output was 25,000 bale?. The cocksfoot seed market is very dull. The wool market is firm, but there are no signs of excitement. There is a general active demand at the opening rates. EXPORT OF HEMP. The returns of hemp graded for export during the month, of June totalled for the whole Dominion 5143 bales, or an increase of 1312 bales over the corresponding period of 1908. The twelve months period, however, shows a very heavy decrease. The bales graded for the two years ending 30th June were as under:—l9oß, 107.578 bales ; 1909, 76,782 bales—a decrease of 30,979 bales. For the six months ending 30th June the position was as follows : —I9OB, 55,131 bales ; 1909, 42,561 bales —a decrease of 12,570 bales. The principal contributors in bales for the months of June, 1908 and. 1909 were as follows: —Wellington 2156 and 1963 bales, Foxtoii 1425 and 693, Auckland 655 and 467, Dunedin 388 and 315, Bluff 34 and 230, Lyttelton and 163. The total output for the month was 5143, as above stated. ‘‘Good fair” predominated at Wellington for last June, whereas the largest quantity graded here for Junelast year was “fair grade.” There were 1163* bales of tow graded for the year. Second-grade predominated, and 22 bales (from Auckland) were condemned. LONDON MARKETS. The New Zealand Loan and Mercantile Agency Co., Ltd., received the following cablegram from their Lorjdon office under date July 11th:—‘‘Wool: Prices 5 per cent, lower for merino scoured, greasy merino medium, coarse greasy crossbred, and faulty wool, greasy merino inferior, coarse crossbred scoured. ar.»:l medium crossbred scoured : 5 to 74 per cent, lower for crossbred slipe. Market steady at the decline. Mutton: Moderate demand; lower prices. Lamb : Market hardening. Beef : Less inquiry for sides. Market weaker.”