COMMERCIAL NEWS

Ashburton Guardian, Volume 55, Issue 166, 27 April 1935, Page 7

COMMERCIAL NEWS

FRUIT AND PRODUCE. THE ASHBURTON MARKET. A quiet week has been experienced on the Ashburton fruit and produce market, the holidays disorganising business considerably. Tomatoes have. eased in price and peaches and Cox's Orange Pippin apples are oft' the market. Delicious apples are selling at 6s 6d to 7s 6d a case. Values are as follow: Potatoes —Id a lb s . Bacon—9d and lOd a lb. Wheat—Seconds, 10s to 12s a sack. Honey—7d to 7*d alb. Onions—ld to lid. Lettuces —3d to 4d each. Cabbages—3d and 4d each. Tomatoes —2s 6d and 3s a ease. Apples—Delicious 6s '6d to 7 s 6d, Jonathan 5s 6d to 6s 6d, cooking 4s 6d to sa. Pears—Cooking 2s to 2s 6d a case. Marrows—4s to 5s a dozen. Chaff—2s 3d and 2s 6d a sack. Pumpkins—ld a lb. Quinces — and 2d a lb. Walnuts —5d and 6d a lb. Pie-melons—lid to lid a lb. Carrots—2s 6d a sugar bag.

GRAIN AND PRODUCE.

CHRISTCHURCH MARKETS.

(Special to the "Guardian.") CHRISTOHURCH, This Day.

Business on the Christchurch grain and produce markets has picked up a little after the Easter break, but the volume of transactions is not large. Prices generally are unchanged. Shipments of potatoes to the North Island were fairly heavy before Easter, and tho demand from, that quarter has now eased considerably. Onions were at their peak a fortnight ago, but have now receded in price by £2 a ton. The market for them is lifeless. Following are nominal prices quoted to be paid to farmers on k trucks at country; sacks extra unless otherwise mentioned:— Milling wheat (new season's)—April delivery, Tuscan 4s Id, Hunters 4s 3d, Pearl and Velvet 4s sd, f.o.b. Fowl Wheat^-3s" 9d to 3s 10d a bushel. Oats—Qartons, 2s 3d to 2s lOd; Algerians 2s to 2s 4d; Duns 2s 9d to 3s 3d according to quality. Chaff—'£3 2s 6d to £3 ss. Barley—2s 6d to 3s, according to quality. J Partridge Peas—ss 3d to 5s lOd. Linseed—£l3 to £l3 10s a ton. Cooksfo6t—Akaroa, 9*d to lid. Ryegrass—Perennial, Italian . ana 1 Western Wolths, 2s 9d to 3s 3d. Clovers—White 6d to 9d; red, 7d to 9d. Potatoes—Prompt delivery £4, MayJune £4. Pollard—£s 5s large size, £5 los Bmall size. ~ . M . Flour—Local £l2 12s, shipping £ll 17b, with the usual increments for •mailer packings.

DUNEDIN MARKETS. ••.*;;, DUNEDIN, April 26. Little interest is being shown in the milling wheat market, as only an occasional line is now reaching the market. This wheat is readily accepted by millers at advanced prices to growers for the month of April, namely, >4s f.0.b., grower's nearest port, for Tuscan, 4s 2d for Hunters and 4s 4d for Velvet. An extra Id per bushel will be available for wheat sold for May delivery. The fowl wheat market remains unaltered with stocks locally not very plentiful. The wholesale value is about 4s 7d per bushel, sacks extra. The oat market shows little change. Practically no lines are on offer from the country, but, on the other hand, there is an absence of any inquiry from the North Island. Millers are prepared to buy odd lines of heavy Gartons, but are showing an inclination to reduce their limit/s. A Gartons are worth 3s 2d f.0.b.5.i., and B's 2s lid These prices are equivalent to lUci and 2s 6d respectively on trucks, country sidings, sacks extra. A fair quantity of oats has been sold from one farmer to another for seed purposes and it is apparent that later in the season there .will not be many oats available for sowing. The quantity threshed in Otago is small compared with previous seasons. The bulk of the chaff required for the local market is being secured from Canterbury, but there are ample stocks in hand to meet the demand, which, is not very great. Truck loads are difficult'to sell at the ruling value of £4 15s to £5, sacks extra, ex trucks. Practically all the sales going through- are confined to small lots, ex store, at £o 5s per ton, sacks extra. Consignments of potatoes are m excess of the demand. Most of the growers have taken advantage or the present spell of fine weather and a good quantity has been dug. A number of lines have had to be taken into store as a consequence. King Ed.wards have the chief inquiry and this variety of potato is selling at £6 per ton, sacks in, ex truck. Despite the drv weather conditions which have prevailed the potatoes are being dug m much better condition than was expected. The area under potatoes in the Otago district is, however, considerably smaller than in previous ye The seed market is quiet and little business is being transacted in any of the lines. The markets remain steady Ryegrass is not in over-supply and it is anticipated that the stocks available will be required for the spring trade. Cocksfoot is in short supply, but there has been little alteration in values. Cowgrass is inclined to weaken owing - to the quantity available being heavier than was at first anticipated. The Brown Top market has ae-ain quietened. This seed advanced to Is lOd per lb wholesale, but merchants are not prepared to buy further until more orders arrive from overseas. The fescue market continues quiet.

PRICES IN BRITAIN. LONDON, April 25. Wheat—Cargoes are lower. Parcels are 3d to 6d down. Futures:—London: April, 23s 4d per quarter; June, 23s 7d. Liverpool: May, 5s 3§d per cental; July, 5s 6*d; October, 5s 8d; Decem-

her, 5s 9Jd. Spot Trade—Easier tendency. Australian, ex ship, 29s 3d. Flour—Quiet. Australian, ex store, 21s to 21s 6d. i Oats—6d dearer. Peas—l inner. Beans—Unchanged.

SYDNEY MARKETS. SYDNEY, April 26. Wheat prices are:—Country sidings 2s B£d, equal to about 3s 3|d for basged and 3s for bulk. Flour—£ll 10s. Bran and Pollard—£4 15s. Potatoes Tasmania £8 to £9, others £6 10s. Onions—Victorian brown £lO, white £ls. Maize—Yellow 3s 6d. BRADFORD WOQC MARKET. LONDON, April 25. The Bradford tops trade is very firm. Quotations are:—?o's, 27£d; 64's, 26d ; 60's, 24d; 56's, 18d; 50's, 13£d; 46's, 10£d; 40's, 9£d. FARMERS' TRADING COMPANY. PREFERENCE DIVIDENDS.

(Per Press Association..) AUCKLAND, April 26. A final dividend oii . the Farmers' Trading Company A and B preference shares will be paid at the rate of 7 per cent, per annum, less the statutory reduction of 20 per cent., on May 31.

SHARLAND AND COMPANY. INTERIM DIVIDEND. WELLINGTON, April 26Sharland and Company have declared an interim dividend of 2\ per cent, on all shares, payable on May 10. i DALGETY AND COMPANY.

DIVIDEND ANNOUNCED. \ ■ WELLINGTON, April 26. The New Zealand superintendent of Dalgety and Company has ' received cable advice that the directors have declared an interim dividend at the rate of 5 per cent, per annum, payable on May 17.

THE RESERVE BANK. WEEKLY STATEMENT. (Per Press Association). WELLINGTON, April 26. The "Gazette" issued to-night contains a statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of business on April 22:

ASSETS—

£27,579,503 8 5 Proportion of reserve to notes and other liabilities 97.27 per cent.

PRICE OF SILVER RISES. MARKET WILDLY EXCITED, LONiDON, April 25. The silver market is wildly excited as a result of the United States raising the price by 6.46 cents. The London price will probably be raised correspondingly.

BUYING TO BE CONTINUED. WASHINGTON, April 25. The Secretary to the Treasury (Mr H. Morgenthau) stated that the United States will continue to buy silver until it reaches 1 dollar 29 cents an ounce, or until the Treasury's stocks equal one-third of the total gold. QUOTATION IN LONDON.

LONDON, April 25. Silver is quoted at 34£d per fine ounce.

DAIRY PRODUCE IN LONDON.

LONDON, AP" 1 25. The butter market is steady. Quotations:—Danish 945, choicest salted, New Zealand 76s to 775, Australian 725; unsalteds, New Zealand 78s, Australian 745. The cheese market is quietly steady. Quotations: New Zealaind, white 44s 6d, coloured 465; Australian 42s and 435.

The National Mortgage and Agency Company of New Zealand, Ltd., advises having received the following cable message from their principals, Messrs A. J. Mills and Company, Ltd., London:— Butter—Market is steady. Firsts

765, finest 775, Danish 945, f.o.b. 745, Australian 725. Cheese—Market is steady. White 44s 6d to 455, coloured 45s 6d to 465, Canadian, white 625, coloured 58s to 60s.

LIABILITIES— £ s. d. fcaid-up capital . General reserve ... ., 500,000 0 0 ,. 1,000,000 0 0 ,. 9,430,059 10 0 Demand liabilities- — fa) State (c) Other .. 12,383,828 3 0 .. 4,174,051 16 10 7,310 12 11 Other liabilities . .. * 84,253 5' s £27,579,503 8 5

Reserves: (a) Gold (b) Sterling exge Subsidiary coin :.. 2,801,731 0 b 22,484,908 11 11 173,671 12 4 2,095,807 3 0 23,385 1 2