COMMERCIAL NEWS

Ashburton Guardian, Volume 55, Issue 302, 4 October 1935, Page 7

COMMERCIAL NEWS

THE RESERVE BANK. THE WEEKLY STATEMENT. \ - (Per Press Association). WELLINGTON, October 3. 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, 30:— LIABILITIES—- £ s. d. Paid-up capital ... 500,000 0 0 General reserve ... 1,000,000 0 0 B ! ank notes 8,893,965 10 0 Demand liabilities—(a) State 9,197,924 12 1 (b) Banks 4,644,581 11 I (c) Other 545,905 16 4 Time deposits Liabilities in currencies other than New Zealand curOther liabilities ... 71,092 11 10 rency Total £24,853,470 1~4 ASSETS—- £ s. d. Re ( S a) rV Gold 2,801,732 10 0 (b) Sterling exge 19,688,593 11 9 (c) Gold exchange Subsidiary coin ... 219,950 4 7 Discounts—(a) Commercial & agricultural bills (b) Treasury and local body bills Advances—(a) To State or State undertakings (b) To other public authorities . (c) Other Investments 2,134,536 6 11 Bank buildings .... Other- assets 8,657 8 1

Total £24,853,470 1 4 Proportion of reserve to notes and other liabilities 96.598 per cent.

PRODUCE IN AUSTRALIA. SYDNEY, October 3. Wheat—Wheat is still rising. Bagged grain on country sidings is quoted 3s, bulk 3s Oid, which is equivalent to 3s 7d to. 3s B£ci, ex trucks, Sydney. Flour —£12 ss. Bran and Pollard—£s 15s. Potatoes —Tasmanian, £l3 to £l4 10s; others, £l3. Onions—Victorian brown, £l2 10s. Blaize —Yellow and white, 4s 9d. ADELAIDE, October 3. Wheat —Growers’ lots, 3s 6Jd. Flour—Bakers’ lots, £l2 15s. Bran —£5 7s 6d. Pollard —£5 12s 6d, Oats—Algerian, Is lOd. Barley—2s 4d.

GRAIN AND PRODUCE.

CHRISTCHURCH MARKETS. CHRISTCHURCH, October 3. The recent agitation in the potato market has now more or less subsided, and prices are maintaining a fairly even leyel. The demand is quieter all round, and the biggest increase since last quotation is 10s per ton. Wheat prices are mostly unchanged. ■lt was reported this morning that the Government, fearing the effects of the dry season, intends to import a quantity of fowl wheat from Australia to supply the North Island demand. The wheat will be v to Auckland, Wellington, Napier and New Plymouth, and one merchant predicted that the South Island will he forced to a lower level in order to compete with the imported grain. However, in the case of out-ports such as Gisborne and Tauranga, (South Island suppliers expect no change in quotations. Another merchant said that the Wheat Purchase B|oard had been forced to import fowl wheat because of the apparent low stocks held by suppliers. In many cases holders were reluctant to disclose the full extent of their stocks, thinking that by delaying supply until the demand! was really acute they would benefit by another few pence per bushel. Actually he thought that there was very little wheat- offering and that the action of the Board was fully justified. Following are nominal prices quoted to bo paid to farmers on trucks at country stations, sacks extra uailess otherwise mentioned:—

Potatoes—Prompt delivery, SuttxmT Supreme £ls, Dakotas £ls, white £ls. Blilling Wheat—October delivery: Tuscan 4s sd, Hunters 4s 7d, Pearl and Velvet 4s 9d, f.o.b. Selling prices to millers for September (all f.0.b.); Tuscan 5s G£d, Hunters 5s 2£d, Pearl and Velvet 5s 4Jd. Fowl Wheat—3s 9d to 3s lOd, South

Island. Ex Wheat Purchase Board: 4s Id, f.0.b., for North Island only, and 4s 4d for South Island.

Bran —Local, £4 15s; shipping, £4 10s.

Pollard—Local, £6 ss; shipping, £5 10s.

Flour—Local £l2 7s; shipping £ll 12s, with the usual- increments for smaller lots.

Partridge Peas—4s 9d to 5s 3d (nominal). Oats—Gartons 2s 6d to 3s, Algerians 2s to 2s 3d, Duns 2s 9d to 3s 3d, according to quality. Chaff—£3 5s (nominal). Barley—2s 6d to 3s, according to quality. Linseed—£l2 to £l3, according to quality. Cocksfoot—Akaroa, 9£d to lid. Ryegrass—Perennial, Italian and Western Woltlis, 2s 9d to 3s 3d. Clovers—White 6d to 9d; red 7d to 9d. THE SHARE MARKET* The following sales were made on the Christchurch Stock Exchange yesterday :- LISTED STOCKS.

SHEEPSKIN SALES CHRISTCHURCH PRICES EASIER. CHRISTCHURCH, This Day. The Christchurch Woolbrokers’ Association report having held their weekly skin sale yesterday morning before the usual bench of buyers. Competition throughout was easier as compared with recent sales, and values declined from gd to Id on dry skins and Is to Is 6d on green and abattoir skins. The range of values is as follows: — •

Per lb. d. d. Pelts li to 3 Crossbred—■ Faulty 3£ to 5 Sound ... 4 to 71 Three-quarterbred— Faulty ... ... ... 4i to 6$ Sound 5i to 8 Half bred— Faulty ... ... 4 to 81Sound .... 4-J- to DiMerino ... ... ... 6 to 7 Lambs —< Faulty ... ... ... 4 to 5-J-Sound ... '6& Hoggets— Faulty ... 6 to Sound _ ... 7i to 8i Green Skins. Crossbreds — s. d. s. d. Light 2 4to 4 6 Heavy 5 2 to 6 9 Three-quarterbreds—• Light ... ... ... 3 6to 5 0 Heavy 6 0 to 7 G Halfbred— Light 2 8 to 5 11 Heavy ... ... ... 6 1 to- 9 0 Hoggets ... ... ... 3 sto 6 7 Pelts 0 9 Spring lambs 1 6

SYDNEY WOOL SALES. THE BIARKET VERY FIRBI. SYDNEY, October 3. At the wool sales 11,445 bales were offered, 10,236 sold, and 1235 disposed: of privately. The improving tendency recently reported for best descriptions

was again noticeable, and the- market was consequently very firm with keen general competition. Greasy merino sold at 19|d a pound. DAIRY PRODUCE. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— Butter —Firm. Finest, 117 s ; firsts, 114 s; Danish, 1295. Cheese—Steady. White and coloured, 58s 6d.

Sales on ’Change £ s. d. £500 N.Z. Govt. 4 p.c. Ins., 1937-40 102 2 6 25 E., S., and A, Bank... 5 6 0 25 Dalgety and Co. 8 10 0 100 Goldsbrough, Mort. ... 1 9 10 200 Manawatu Knitting (2) 2 0 0 50 N.Z. Breweries 2 10 7 100 Anthonv Hordern 0 18 0 174 Broken Hill Propty. (“rights”) 0 19 8 0 19 6 0 19 5 0 19 3 400 Dunlop Percfriau Rubber ... (4) 0 15 1 150 Electro. Zinc (ord.) 1 8 9 100 Golden Sands 0 2 8 3400 Mahakipawa 0 0 I4 (4) 0 0 1 1000 Mahakipawa (pref., 1929 issue) _ ... 0 0 2 500 Mahakipawa, (pref.. 1930 issue) 0 0 2 150 Mount Morgan (cum div.) ... (2) 1 15 9 300 Skippers 0, 0 2f Sales Reported. £ s. d. 250 Com. Bank of Aust. 0 16 4 20 Dalgety and Co. 8 11 0 200 Amalg. Wireless (con., cum div., late sale, October 2) 1 17 6 100 British Tobacco 1 18 5 100 Dunlop Perdriau Rubber 0 15 1 50 G. J. Coles 3 5 3 500 King Solomon 0 3 0