COMMERCIAL NEWS

Ashburton Guardian, Volume 55, Issue 177, 10 May 1935, Page 7

COMMERCIAL NEWS

THE RESERVE BANK. THE WEEKLY STATEMENT (Per Press Association.) AVELLINGTON, May 9. The “Gazette” issued to-night contains a statement of assets and liabilities of the Deserve Bank of New Zealand as at the close of business on May 6:—

Proportion of reserve to notes and other liabilities 97.23 per cent. CHRISTCHURCH SKIN SALE A FIRMER DEMAND.

CHRISTCHURCH, This Hay. The Christchurch AVoolbrokers Association reports having held its weekly skin sale yesterday before the usual bench of buyers. As the result of late London cablegrams, prices were firmer than has been the case for some time. The range of prices is as follows: Sound. Faulty.

Green Skins.

THE SHARE MARKET. The following sales were made on the Christchurch Stock Exchange yesterday : Sales on ’Change.

UNLISTED STOCKS. Sales on ’Change. £ s. d. 30 Wool worths (Sydney), ord. ... ... .... 4 8 9

PROSPECTS ISSUED THE MORTGAGE CORPORATION. The Acting-Minister of Finance (the Hon. A. Hamilton) has issued a prospectus inviting public subscription of £500,000 of the share capital of the Mortgage Corporation of New Zealand, and stated that the list of applications will be closed on or before May 24. The capital of the Mortgage Corporation is to be £1,000,000 in shares of £1 each, 500,000 of which are to be allotted to the Minister of Finance and held by him on behalf of the Crown. The Crown actually provides half of the total share capital, but the' Minister does not have any voting rights as a shareholder of the Corporation. The remaining 500',000 shares are now offered at par for public subsciiption, and as the shares will carry a cumulative dividend of -1 i poi cent, payable out of the profits of the Corporation the Minister confidently expects that the shares will he readily taken up. The shares will be allotted by the Minister of Finance in terms of the legislation, and not more than 5000 shares will be allotted t-o any one person. The liability of every shareholder will be limited to the amount for the time being unpaid on the shares. Payments in respect of shares applied for are to lie made as follow: 2s 6d per share on application, 2s 6d per share on allotment, 5s per share on April 1, 1936, 10s per share on June 1, 1936.

Applications will not be accepted if for less than five or for more than 5000 shares.

PRODUCE IN AUSTRALIA. SYDNEY, May 9. Wheat—On country sidings 2s Bid, equal to about 3s 3.Jd for bagged, 3s 4id for bulk, ex trucks, in Sydney. Flour—£ll 10s. Bran—£4 15s. Pollard—£4 15s. Potatoes —Tasmanian, £B, £9 10s; others to £7 10s. Onions—Victorian Spanish £lO 10s. Maize —Yellow and white 4s 2d. ADELAIDE, May 9. Wheat—Growers’ lots, new crop 3s 2d. Flour—Bakers’ lots £ll 17s 6d. Bran—£s. Pollard—£s 2s 6d. Oats—Algerian Is lid to 2s. Barley—2s 7d to 2s 9d.

LIABILITIES— £ s. d. Paid-up capital . .. 500,000 0 0 General reserve . .. 1,000,000 0 0 Bank notes 9,407,417 0 0 Demand liabilities(a) State .. 12,470,121 15 5 (b) Banks .. 3,969,748 18 4 (c) Other 7,194 1 6 Other liabilities .. 87,134 12 3 £27,441,616 7 6 ASSETS— £ s. d. Reserves: (a) Gold ,. 2,801,731 0 6 (h) Sterling exge 22,33b,/ 30 lb 11 Subsidiary coin . 170,453 lb o Investments . 2,095,807 3 0 Other assets .... 36,893 11 1 £27,441,616 7 6

Halfbred d. d. d. d. Three-quarter to full-woolled ... 8 to- 9 to 8 Half-woolled 7 51 to 61 41 Short Oa Three-quarter to full-woolled ... 61 to 61 51 to 6 Half-woolled Three-quarter bred Short ... Crossbred — 6 51 to 5$ 41 to 41 to 31 to 41 to 31 Half-woolled ... Short Merino — Three-quarter to full-woolled ... - to 71 Half-woolled ... to 61 Hoggets— Halfbred to n to 61 Pelts — ... ■ to 31 to 2

s. d. s. d. Half bred ... 2 4 to 7 1 Three-quarter bred 2 4 to 6 0 Crossbred ... 2 6 to 5 4 Hoggets 3 0 to o 0

£ 9. d. 20 Com. Bank of Aust. i (pref.) ••• ■■■ 9 14 0 50 National Bank of N.Z. 3 7 6 200 A.P.A. 1 1 1 1 7 6 15 Dalgety and Co. (cum div.) 8 2 6 300 N.Z. Breweries (2) 2 15 2 15 9 7 100 Staples 1 13 0 8 100 British Tobacco 1 18 200 Broken Hill Prop, (cum div.) (2) 2 14 7 400 Maori Gully ... 0 1 / 200 Sun Newspapers 0 5 0 6 10 0 Sales Reported. £ s. d. 100 National Insur. (cum div.) (late sale, 8th)1 1 8 100 National Insur. 1 1 10 360 Standard Insur. 3 12 9 35 Mosgiel Woollens (cum div.) (lato sale, 8th) 11 0 0 100 Westport Coal 1 i 3 600 N.Z. Breweries (late sale, 8th) 2 15 2 15 7 6 2 15 7 100 Electro. Zinc (pref.) 1 14 3 £300 N.Z Farmers’ Co-op. 4) p.c. stock, 1942 ... 81 0 0 £700 N.Z. Fanners’ Co-op. 4J p.c. stock, 1941 (late sale, 8th) ' 81 10 0 £450 N.Z. Farmers’ Co-op. 4) p.c. stock, 1941 ... 81 10 0 133 Sun Newspapers (late sale, 8th) 0 5 9 100 Sun Newspapers .". 0 6 0 100 Mount Lyell 0 19 9