COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 29, 15 November 1935, Page 7

COMMERCIAL NEWS

THE RESERVE BANK. THE WEEKLY STATEMENT. (Per Press Association). ■WELLINGTON, November 13. 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 od November 11:

GRAIN AND PRODUCE. CHRISTCHURCH MARKETS. / (Special to the “Guardian.”) CHRISTCHURCH, November 14Quietness still prevails on Christchurch grain and produce markets, and no price alterations from those previously quoted are reported. Until the new season’s supplies begin to arrive, merchants state, the same steady level should be maintained. Potatoes are very quiet, local supplies being nearly exhausted. . Following are quoted prices to be paid to farmers on trucks at country stations, sacks extra, unless otherwise mentioned: — Milling Wheat—November delivery: Tuscan 4s sd, Hunters 4s 7d, Pearl and Velvet 4s 9d, f.o.b. Selling prices to millers fob -November (all f.o.b.)j Tuscan 5s o|d, Hunters 5s 2£d, Pearl and Velvet 5s 4£d. Fowl Wheat—To 4s Bd, South Iskßr'an—Local, £4 15s; shipping, £4 10 poUard—Local, £6 ss; shipping, £5 10s/ , . . Flour—Local, £l2 7s 6d; shipping £ll 12s, with the usual increments for smaller lots. „ . Partridge Peas—4s 9d to 5s 3d (nom* Oats —Gartons 2s 9d to 3s 3d; Algerians, 2s 7d to 2s 9d; Duns, 2s 9d to 3s 6d (according to quality). Chaff—£3 os (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, 29 9d to 3s 3d. Clovers—White 6d to 9d; red 7d to 9d.

DAIRY PRODUCE. BUTTER QUIET AT 106 s. X - The South Island Dairy Association, Ltd., lias received the following market report from the Net' Zealand Produce Association, Ltd,,\ London, daied November 12: — Butter-Quiet. Finest 106 s, firsts 104 s, Danish 1245. Cheese —Quiet. White and coloured 53 s: SYDNEY WOOL SALES. SEASON’S RECORD FOR MERINO. (United Press Association—Copyright) SYDNEY, November 14. At the wool sales 12,088 bales were offered, 11,134 sold at auction, and 414 disposed of privately. The market closed with prices at the Lest point of the week. Very full and satisfactory clearances were made. A season’s record cf 26£d was established for merino fleece, for five bales from Yass. AUCKLAND WOOL SALE. SHORT CATALOGUE PROBABLE. AUCKLAND, November 14. With the catalogue for the first Auckland wool sale of the 1935-36 season closing next Tuesday, there is an abnormal lack of activity m brokers stores. In other years at this time wool has been coming m steadily by road and rail, keeping large numbers of men fully occupied in handling and reclassing, afid rapidly taxing the floor space cf the stores. To-day, but for the carry-over clips from last year, there was little to indicate the proximity of one of the most important sales of the Dominion season. The present situation is entirely due to the broken weather of the last fortnight. Few farmers in the Auckland district can hold more than a few

sheep under cover, and the remainder need only one sharp squall to spoil their shearing for that day. At the same time the farmer lias to hold his sheep near the sheds, necessitating special feeding. The loss of the whole of the last two Aveeks has been the common experience. Certain areas have been fortunate, notably Waiheke Island and the north, and from these districts a large proportion of the avool has come. With a probable improvement in the weather now, shearing will be hurried on ; and the first two days of next week should see a. general improvement in the situation, although it is stated that there is no prospect of a full catalogue of 25,000 bales.. Conservative estimates put the probable offering at nearer 15,000 bales, a large proportion of Avhich is carry-over from last season. In addition, a fair quantity of last-season’s avool will be left in the stores by farmers, who prefer to watch the first series of sales to get a better idea of price prospects.

PRODUCE IN AUSTRALIA. SYDNEY, November 14. Wheat—Silo is valued _ about 3s 6d bagged, and is nominally worth 3s 7d. There is no grain on offer at country sidings. Flour —£11 17s 6d. Bran and Pollard —£5 10s. Potatoes—Tasmanian, » £l2; local, new, £8; Western Australian, £lO 10s. Onions—Victorian brown £B. Maize— YelloAV and white, ss. ADELAIDE, November 14. Wheat—Growers’ lots 3s 2d. Flour—Bakers’ lots £l2. Bran —£5 7s 6d. Pollard —£5 12s 6d. Oats— Algerian Is 10d. Barley —2s 3d. THE SHARE MARKET. The following sales were made on the Christchurch Stock Exchange yesterday : LISTED STOCKS.

LIABILITIES— £ s. d. Paid-up capital ... 500,000 0 0 General reserve ... 1,000,000 0 0 Bank notes 9,101,680 10 0 Demand liabilities— (a) State 5,764,162 13 2 (b) Banks ". 4,297,719 19 8 (cj Other 767,042 10 3 Time deposits Liabilities in currencies other than New Zealand currency — Other liabilities ... • 96,700 18 4 • Total £21,527,306 11 5 ASSETS— • * £ s. d. Reserves: (a) Gold 2,801,732 10 0 (b) Sterling exge 16,948,051 17 6 (c) Gold exchange — Subsidiary coin ..... 210,760 6 10 Discounts— (a) Commercial & agricultural bills — (b) Treasury and local body bills — State undertakings — (b) To other public authorities ; — (c) Other — Investments 1,538,442 t 9 Bank buildings .... — Other assets 28,319 9 4 Total £21,527,306 11 o Proportion of reserve to notes and other liabilities 99.093 per cent.

Sales on ’Change. d. £ s. 42 Natl. Bank of A/asia, 6 13 0 5 . 0 2 (£5 pd., cum div.)... 100 N.Z. Guarantee. oCrp. 150 New Zealand Breweries ••• . ,( 3 ) 2 13 6 100 Manawatu Knitting 2 0 6 200 Big River 1900 Skippers V) 0 1 0 0 0 0 9$ 21 2% Sales Reported. £ s d. 200 Consolidated Brick 0 10 9 (late November 13)... £2145 N.Z. Govt. 4 p.c. Stock, 1940 (2) 101 U 6 UNLISTED STOCKS. Sales Reported. d. 50 Woolworths (Sydney) ord. 25 Woolworths (West 5 15 8 12 6 6 Australia)