COMMERCIAL.

Gisborne Times, Volume XXXV, Issue 3974, 3 July 1913, Page 2

COMMERCIAL.

STOCKS AND SHARES. AUCKLAND EXCHANGE. f [BY TELEGRAPH—:SPECIAL CORRESPONDENT] AUCKLAND EXCHANGE. Sales; Wailii 41s Cel to 41s 3d, Junctions 20s 6d to 20s 3d, Talisman 37s 3d, New Waitaia Is, Watchman Is 10d, Ross 9s IdFollowing arc the closing prices:

WELLINGTON PRICES. [BY TELEGRAPH —SPECIAL CORRESPONDENT] WELLINGTON, July 2. Following are the closing quotations:— „ Buyers. Sellers.

UNION BANK.

[UNITED PRESS ASSOCIATION—COPYRIGHT] (Received July 2, 6.10 p.m.) : LONDON. Ju’-y 2. . The Union Bank has declared a dividend of 10 per cent, and a bonus of 2 per cent. To the reserve is added £50,000, and brought forward £44,000.

ADDINGTON STOCK MARKET. [PRESS ASSOCIATION TELEGRAM.] CHRISTCHURCH, July 2. At th© Addington live stock market tliere' were fairly large entries of stock and a good attendance. Store sheep, except lambs, were rather easier. Fat lambs, except prime sorts, were easier, and fat sheep opened firmly. Fat cattle showed some improvement, and fat pigs sold well. Store Sheep.—Prices : Forward lambs 14s to 14s 9d, medium 12s 3d to 13s, extra to 15s, inferior 10s 6d, half-bred ewe lambs 15s 7d 5 ewes (specially gooil two-tootlis) up to 24s lid, four and six tooth of similar class to 245, four, six, and eight tooth 14s to 16s. aged ewes 11s to 12s, two-tooth medium 16s 6d, two, four, and six tooth (good) 16s to 17s 9d, extra, good to 21s, full-mouthed 14s to 15s, four and five years old ewes 12s sd, merino ewes 12s 3d, wethers two and four tooth. 16s 4d to 17s 7d, four and six tooth (very forward) 18s 2d to 19s 4d. Fat Lambs.—Tegs made 20s to 255, medium 17s to 19s 6d, and lighter and unfinished 13s 4d to 16s 6cl. Fat sheep remained firm throughout. Prices; Extra prime wetherp to 32s fid. prime 21s 6d to 275, others 16s 10d to 21s, merino wethers 15s 3d to 16s lid, prime ewes 19s to 245, medium 16s 6d to 18s 6d, aged and light 8s 9d to 16s. Fat Cattle.—Steers mad© £7 10s to £ll 2s 6d, and extra to £l6 15s, heifers £5 17s 6d -to £lO 10s, and cows £5 10s to £lO, and extra to £l2 (equal to 26s to 31s per 1001 bs.). Store Cattle.—There wa s a poor entry of store cattle, being mostly old cows. Yearlings made 355, three years steers £6 2s 6d to £6 17s 6d, three year heifers £5 10s, and dry cows £2 to £4 10s. There was a fair yarding of dairy cows and a good demand for the better class, prices ranging from £4 10s to £ll ss. „ . There was a small entry of pigs, and fats sold well, choppers making £3 10s to £4 10s, large baconers £3 5s to £3 15s, lighter 52s 6d to £3 (equal to 5Jd per lb), large porkers 46s to 50s. smaller 38s to 44s (equal to 6d to 63d per ib). LONDON MEAT MARKET.

Messrs Gilbert Anderson and Co., Colonial agents, report under date London, May 23 : The low stocks of lambs have been augmented by the arrival of 344,000 carcases from New Zealand during the past week. Prices consequently are somewhat lower, and although with plentiful supplies on the water a further fall is inevitable, prices should, however, rule at a good high level throughout the season. Home Grown.—Beef: Scotch, G;fd to 74c1; English, Old to Ggd ; Canadian (London killed), Gjd to o|d. Alutton : Scotch, 7d to BJd; English, 7d to Sd : Dutch, 63d to 7MI. Tegs : Scotch Bkl to 9-Jd; English, 7jjd to Bjd. Lamb : English, 8-jd to 10j-d. Pork,: 7d to Bd. Chilled Beef: Contrary to general expectations supplies have been moderate and prices higher. Fores, 3kl; hinds, s id. „ . . - Frozen Beef.—New Zealand fores, 3id ; hinds, 4d. Australian, 3-|d ; hinds, 3 9-16 d. South American, 31d to 4d. Frozen Mutton.—South American are short causing a healthy tone all around. Canterbury unchanged, 4850, 43d: 50-64, 4§d; 64-72, 4 l-16d. Best North Island, 56-64, 4 3-16 d : 01dinarv, 4ld: ewes, 3ifd. Australian wethers, 30-dl), 3|d ; ewes, 3|d; South American wethers, 50-72, 3 13-1 Ocl; owes, 3gd. Frozen Lambs.—Canterbury, 28-36, 6|d; 30-42, 6|d; 42-50, Old. Best North Island, 28-42, 0 7-10 d ; ordinary 6 5-16 d. Australian, 28-36, 6d. South American, 28-30, ofd; 36-32, 6 Messrs Dalgety and Company, Limited, submit the following report on the frozen meat market, undei date London, May 29 : Since our last trade on Smith field market has been oxceptionallv quiet, and very low prices have been accepted “off the hooks” to effect a clearance. The reasons for this are sudden warm weatliei and a very had retail trade during the latter end of last week. Prices “ex store” show a decline of about per lh. for lamb, £d per lb. for mutton, and 3d to id per lb. for chilled beef. Frozen beef is practically unsaleable, consequently prices quoted are nominal. We think it probable that there yill ho a further decline in frozen lamb, but should the* demand for mutton improve, the stocks on hand do not warrant a further fall in \ allies of frozen, sheen. COLD STORAGE BANQUET,, SPPEECH BY THE HON T. MACKENZIE. FUTURE FULL OF PROMISE. LONDON, May 9. An excellent illustratiu*i of the advantages of eoid storage was afforded at the fourtenth anniversary dinner of the Cold Storage and lee Association at the Hotel Cecil, when the menu included soup from Queensland turtle, salmon front Canada, lamb from New Zealand, beef from River Plate, quail from Egypt, potatoes from the Canary Islands, pineapples from Jamaica, and apples from Australia. 'Phe Hon. T. Mackenzie responded to the toast of “Refrigeration and the British Dominions Overseas.” A previous speaker, he said, had remarked that the farmers of England were now reconciled to the frozen, produce trade. It was a pity that there should ever have been any doubt in the mind of tho British farmer in connection with the work of refrigeration and the importation of meat and other foodstuffs from beyond the seas. Mere Britain capable of feeding her own people, and the importation of food threatened to destroy the agricultural industry, there would have been a reason for objecting. But it was not so. In New Zealand necessity was tho mother of invention. Wo had to use every means to raise our produce and to send that produce overseas. _ At the present time land in Britain was cheaper than land of the same quality in New Zealand, and wages in New Zealand were higher than those in England by 50 per cent. We had to send our produce 13,000 miles and to accept lower prices than the British farmer received. It must be remembered that the importation of frozen meat had not lessened Britain’s own meat supplies. Of Home-grown, on tho contrary, they had increased from ] 057.000 to 1,270,000 tons, nearly 214,000 tons. Tho increase in frozen, meat during the same period was from 533,000 tons to 1,034,000 tons. This showed that Britain was capable of increasing her own meat produce. The adoption of the freezing process had enabled surplus food to be conveyed from where there was a plethora to" where there was a paucity. . At the initiation of tho industry sheep were sold in New Zealand for just as much per head as meat was charged per 11) to buyers here. The development of the freezing process had not in any wav injured Britain ; the contrary‘was the case. If they followed the ‘course of events they would find that its adoption had caused British possessions to develop enormously. That meant increased British trade, and a review of tho export trade 0 Britain showed that the great bulk of her increasing exports went to her own people across the seas, so tnat wo mutually benefited by the frozen in- . dustfy.—(Applause.) ,' • , , ~ Air Mackenzie then sketched tlio history of the early development of

the frozen-meat trade. He mentioned tho departure of the ship from Dunedin with tho first shipment of frozen meat from Otago; the splendid work done by Mr. Thomas Brydone, Mr. James Davidson, and others; the capacity of young countries for increasing their output; the cheapening of food to workers here. , He showed that New Zealand had from flocks of 11,000,000 in 1880 sent half the total of frozen meat .that had arrived 111 this country as well as increasing her •own flocks to 24,000,000. In 1880, British people paid Sfd per lb for beef, and now they could purchase ours at 4i*d. Ho did not wish the people of England to view with disfavor the products of their kinsfolk abroad. It must bo remembered that these products, were raised by their fellow-coun-trymen, although they dwelt in other parts of the Empire.—(Applause.) Regarding the future, -Mr Mackenzie considered that it was full of promise from a producer’s point of view. Countries which had been meat exporting were, owing to the increase in their population, changing into meatproducing countries. He thought that the time was not far distant when, the working people of the Continent would demand the removal of the restrictions which prevented their obtaining wholesome food at' reasonable rates; and there was no meat that was so pure and so free from all taint as that which was shipped in a frozen condition from New Zealand. His officers stated that on board ship less damage was done than, formerly; its handling, however, in London had not improved,, and it was absolutely impossible that present conditions should he allowed to continue. Tne Port of London Authority had promised him the improved conditions required. He had submitted to his Government a plan, which, if adopted, would prevent largely the substitution of Argentine meat for that of New Zealand.

Sellers. Buyers. Vf aihi ... 41 G 41 3 Junction ... 20 6 20 0 Talisman ... 37 3 37 0 Crown ... 1 9 1 G Occidental 10* Vi Saxon 746* Waiotahi ... 2 2 1 10 Waitangi 11 7* Watchman ... 2 0 1 9 Ross ... 9 4 9 0 New Waitaia ... 1 2 1 0 Taranaki Oils ... 10 0

Banks — National (okl) ... 103 0 103 0 Financial — Mercantile (2nd) £96 10 Deposit o 0 — Gas — Christchurch ... 147 6 — Wellington (1st) ... 320 0 20 0 do (2nd) ... 19 6 Miscellaneous — N.£. Insuraoe ... 104 0 — Oh’churcli Meat ... 302 6 — Gear (1st) ... 246 0 — Well’n Meat (3rd) ... 60 0 — Union Steam 44 0 Kaiapoi (1st)... ... 100 0 22 0 Tannin Westport ... 27 3 10 — Stockton ... 3 — Taringamutu Golden Bay ... 43 9 20 0 Sharland (nrcf) 21 9 Ward ... 102 0 — Wnirarapa Farm (2nd) - 28 3 Minina — Sylvia ... 1 2 1 4 Progress ... 8 6 — Boss ... ... ... 9 0 9 6 Talisman ... 37 0 — Wailii ... 41 6 41 9 Beefs 20 7 — Junction 9 — Waitangi 6 9