COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 8, 22 October 1935, Page 7

COMMERCIAL NEWS

DOMINION PRODUCE. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received'the following cablegram, dated October 19, from the High Commissioner for New Zealand, London:—Tallow—Market firm with quotations slightly higher for mutton, fine. Eggs—’Market firmer. _ Prices have advanced. English, national pack 16s 6d to 21s, ordinary puck 16s to 17s; Danish 13s to 15s, Australian 11s 6d to 13s 6d.

GRAIN AND PRODUCE.

CHRISTCHURCH MARKETS. CHRISTCHURCH, October 1. There is no change in the produce quotations on the Christchurch market, with the exception that merchants are reluctant to make any quotations at all for potatoes, as the demand lias been practically nil. The last nominal price was £l4 per ton on trucks, but if there has been any business at all since then it would almost certainly be at a figure below that. * There have been no changes in grain, flour or bran prices, the markets remaining quiet. Following are nominal prices quoted to be- paid to farmers on trucks at country stations, sacks extra unless otherwise mentioned:—

Milling Wheat—October delivery: Tuscan 4s sd, Hunters 4s 7d, Pearl and Velvet 4s 9d, f.o.b. Selling prices to millers for October (all f.0.b.): Tuscan 5s o£d, Hunters 5s 2-id, Pearl and Velvet 5s 4id. Fowl Wheat—3s 9d to 3s lOd, South Island. Eix Wheat Purchase Board: 4s Id, f.0.b., for North Island only, ana 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 3d to 2s 7d, Duns 2s 9d to 3s 6d, according to quality. Chaff—£3 5s (nominal). Barley—2a 6d to 3s, according to quality. Linseed—£l2 to £l3, according to quality. Cocksfoot—Akaroa, 9id to lid. Ryegrass—Perennial, Italian and Western Wolths, 2s 9d to 3s 3d. Clovers—White 6d to 9d; red 7d to 9d.

DAIRY PRODUCE.

BUTTER. MARKET SLOW. The South Island Dairy Association, Ltd.,, has received the following market report from the New Zealand Produce Association, Ltd., London:— Butter—Slow. Finest 1225, firsts 120 s; Danish 1365. Cheese—Quiet. White and coloured GOs to 61s. <

BOARD’S MINIMUM PRICES. WELLINGTON, October 21.. The Dairy Board advises that its minimum prices are now as follow: — Butter 13ijs, cheese s£d, equivalent to 108 s Id and 47s lOd, c.i.f.e.

N.Z. PAPER MILLS, LTD.

AN INTERIM DIVIDEND. DUNEDIN, October 21. Directors of the New Zealand Paper Mills, Ltd., at a meeting this morning, authorised the payment of an interim dividend at the rate of 3 per cent., distribution to bo made on November 11. The share transfer books will be closed from October 29 to November 11, both dates inclusive. The company paid 7 per cent, last year.

THE FROZEN MEAT TRADE. Messrs J. T. Thomas and Co. have received cable advice from their London agents, under date October 19, as follow: —- New Zealand Lambs —(Down, 2’s, BJd, Bfd; secondary, Down, 7§d, 7fd; New Zealand lambs, 2’s, 7|d, Bgd ; B’s, Bd, B|d ; 4’s, 7 id, 7*;; lambs, 7id, 7-|d. ■New Zealand Mutton —Smalt, 4 s d, s£d; large, 4fd, 4|. New Zealand Ewes —Small, 3gd, 3|d; largo, 4-id, 4:(d , New Zealand Frozen Beei —Hinds, 3)d, 33d; fores, 2Jd, 2|d. Dominion Chilled —Hinds, 4£d, 5-J-d ; fores, 2id, 23d. South American Chilled—Hinds, sid, 6Jd ; fores, 23d, 33d. New Zealand Pork —53d, 63d. Australian Lambs (new 1 season’s) —• 7d, 6d. Argentine Lambs (new season s) 6»d, 7*d. Lambs: The demand is being checked by high prices, which, it is thought, have reached the top. Wethers: The market is firmer for light-weights; heavy-weights remain steady. Ewes: The market is quiet and unchanged. Beef: The market is dull, and there is little business, doing. Pork : Trade is slow. Trade generally is affected by heavy supplies of Home-killed meat.

TALLOW MARKET ADVANCES.

HIGHEST FOR SOME YEARS. AUCKLAND, October 21. There has been .renewed activity in the tallow market, and prices have advanced sharply. At the fortnightly

sale in Auckland last week, values rose by about 2s per cwt to the top price of 275. The market was again higher at the Wellington sale on Friday, and prices up to 30s 3d per cwt were realised. These rates are the best realised for some years, and are almost double the values ruling at this- time last year. The rise has been attributed to the inquiry in the United States following the drought and the killing of stock last year, and to the demand by many countries for glycerine, which is extracted from tallow and which is used in the manufacture of explosives. Exporters state that at present there are no direct orders from the Continent, but the United States and the United Kingdom are interested buyers. The New Zealand market is practically bare of stocks, arid new supplies will not be available in any quantity until the freezing works are again in full operation.

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

£ s. d. 100 Comm- Bank ... 0 16 8 50 E., S., and A. Bank ... 5 6 0 25 Reserve Bank 6 8 0 100 National Insurance ... 0 19 s 200 N.Z. Refrig. (10s pd.) 8 (2) 0 10 200 Tooth’s Brewery (3) 475 Broken Hill Proptj’. 2 16 9 “rights” 0 19 3 (5) 0 19 6 0 19 7 200 Dunlop Rubber 0 15 2 200 .Howard ’Smith 0 17 6 76 Woolworths (N.Z.) ord. 5 8 0 5 8 3 100 Mount Lycll ... 0 19 5 100 Rawang Tin 0 8 4 Sales Reported, £ s. d. 100 Berlei (N.Z.) 3 0 0 200 Westport Coal 210 N.Z. Refrig. (£1 paid) 1 2 6 (2) 1 2 0 400 Maori Gully 0 1 Oh UNLISTED STOCKS. Safe on ’Change, 1000 Argo Gold. Sales Reported. £ s. d. £250 Golden Bay “A” debentures 0 13 11 25 Woolworths (Syd.). ord 5 9 0