COMMERCIAL NEWS

Ashburton Guardian, Volume 55, Issue 278, 6 September 1935, Page 7

COMMERCIAL NEWS

THE RESERVE BANK. ,

THE WEEKLY STATEMENT.

(Ter Press Association.)

WELLINGTON, September 5. A 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 September 2:—

CHRISTCHURCH SHEEPSKIN SALE CHRISTCHURCH, This Day. The Christchurch Woolbrokers’ Association reports having held its skin sale yesterday, when fair average catalogues were offered of both green and dry skins. Buyers were keen, and prices improved from £d to id per lb. The following was the range oi

THE SHARE MARKET.

The following sales were made on the Christchurch. Stock Exchange yesterday :

LISTED STOCKS. Sales on ’Change.

TH'E WOOL MARKETS

SYDNEY SALES CLOSE FIRM. SYDNEY, Sept. 5. At the wool sales 11,973 bales were offered and 11.041 sold, also 3590 were sold privately. The market closed firm at the rates ruling earlier in the week. , . There wa3 very keen competition

from Japan and the Continent, witl Yorkshire operating sparingly. Greasy merino sold to 20£d.

PRICES ON SOUND FOUNDATION

LONDON, Sept. 5. The “Financial News" expresses the opinion that present prices at the Australian wool sales will at least be maintained, since production in 1935-36 is unlikely to exceed that of the previous year, and may even be lower. There might be some doubt as to whether speculation had again confused the position, but there was nothing to indicate at present that the price movement was built- on anything but firm foundations.

PRODUCE IN AUSTRALIA. SYDNEY, September 0. Wheat—Country sidings, bagged 2s 7d, bulk 2s 7dl, equal to about 3s 2d to 3s 3d, ex truck, Sydney. Flour—£ll 2s 6d. Bran—£s los. Pollard—£s 15s. Potatoes—Tasmanian, £l3 to £ll j Victorian £ll. Onions—Victorian brown £l2. Maize—White and yellow 4s 9d. ADELAIDE, September 5. Wheat—Growers’ lots 3s o£d. Flout—Bakers’ lots £ll 12s (xl. Bran—£3 2s 6d. Pollard—£s 7s 6d. Oats—Algerian Is 9d to Is lOd. DAIRY PRODUCE. The South Island Dairy Association, Ltd., lias received the following market report from the New Zealand Produce Association, Ltd., Londton:— Butter—Firm, 100 s to 102 s; Danish 112 s to 114 s. Cheese—Firm. "White 50s to 50s 6d, coloured 50s. EGGS CHEAP IN DUNEDIN. DUNEDIN, September 5. Eggs are now uncommonly cheap in Dunedin, and the wholesale price has dropped to lOd a dozen. It was expected that the beginning of packing for export would make the market firmer, but so far that has not resulted. FROZEN MEAT IN LONDON. The Bank of Australasia reports that the following cablegram, dated September 3, has been received from its London office:— Frozen Lambs —Although the demand has fallen slightly owing to increased supplies of Home-killed, there are still good inquiries for New Zealand lambs. Prices for these remain steady; no material change in values anticipated for the time being. Australian Lambs —Still very slow sales. Frozen Mutton —There is a temporary shortage of New Zealand wethers, and values for these appreciated, consequently ewes have received more attention; and while a better demand for these, • values only slightly increased. There are, however, practically no inquiries for Australian mutton.

Frozen Beef —Advance in price of chilled beef has caused- increase in price.

LIABILITIES— £ s. d. Paid-up capital ... 500,000 0 0 General reserve ... 1,000,000 0 0 Bank notes 8,856,824 10 0 Demand liabilities— (a) State 10,673,788 3 1 (b) Banks 3,984,386 9 10 (c) Other 124,450 0 0 Time deposits Liabilities in currencies other than New Zealand cur- —— Other liabilities ... 58,813 3 4 Total 25,198,262 6 3 ASSETS— £ s. d. Reserves: (a) Gold . 2,801,732 10 0 (b) Sterling exge 20,025,931 7 0 (c) Gold exchange Subsidiary coin .... — 220,812 1 7 Discounts — (a) Commercial & agricultural bills (b) Treasury and local body bills — Advances— (a) To State or State undertakings — (b) To other publie authorities . — (c) Other — Investments 2,102,858 11 0 Bank buildings .... — Other assets 46,827 17 2 Total 25,198,262 6 3 Proportion of reserve to notes and other liabilities 96.56 per cent.

pilCeS ‘ Sound. Faulty. d. d. d. d. Halfbreds — Three-quarter to full wool ... 83 to 9| 73 to 9 Half-wool ... 7 to 8 6 Short to quarterwool ... 4 to 54 5 Th ree-quarterbred — Three-quarter to full wool ... 83 6* Half-wool ... 7 5 2 Short to quarterwool ... 5 34 Crossbred — Three-quarter to full wool ... 7 Half-wool ...63 4i ' Short to quarterwool ... 4 34 Merino — Three-quarter to full wool ... 83 73 Half-wool ... 5 Hoggets— Halfbred ... 9 74 Three-quarterbd. 74 64 Crossbred ...64 53 Pelts 3 2 Green Skins. s. d. s. d. Halfbred 5 0 to 11 0 Three-quarterbred ... 5 0 to 8 3 6 9 Crossbred 4 0 to Hoggets v .... 2 9 to 6 6

£ 8. d. 15 Reserve Bank 6 10 6 150 N.Z. Breweries (2) 2 12 2 12 4 3 200 Anthony Hordern (2) 0 19 4 200 Broken Hill Tty. (2) A o 1J. 3 7 0 3 6 11 135 Whitcombe and Tombs „ • (2) 3 19 t> 1000 Goldfields Dredging _ _ (2) O O 1000 Maliakipawa 0 0 3 6 200 Mount Morgan (3) 1 18 Sales Reported. £ 8. d. 470 Mortgage Corporation (5s paid) o t> 0 6 4: 3 30 Dalgety and Co. 8 13 0 130 Bank of New Zealand 2 11 0 £800 Christchurch Trams, _ _ .. , 4i p.c., 1/8/1952 ... 105 10 0 £300 N.Z. Govt. 4 p.c. _ _ , Ins., 1937-40 102 2 6 50 Claude Neon (N.Z.) 2 3 6 £200 N.Z. Loan and Merc. _ _ „ (ord. stk.) 36 O O UNLISTED STOCKS. Sales on ’Change d. £ s. 500 Argo Gold (2) 0 1 7J Sales Reported. £ s. d. 25 Woohvorths (Sydney), ord. 5 12 6