COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 70, 4 January 1936, Page 7

COMMERCIAL NEWS

FRUIT AND PRODUCE. THE ASHBURTON MARKET. Peaches have made their appearance on the Ashburton fruit and produce market. Local raspberries have been replaced by Waimate raspberries at cheaper prices. Green peas and tomatoes have eased in prices. Onions are cheaper. Values are as follow: — Potatoes—New, 2d a lb. Bacon—9d to lOd a lb. Wheat —Seconds, 14s and 16s a sack. Honey—6}d to 7d a lb. Onions—3d a lb. Spring Cabbages—2d and 3d each. Chaff —2s 3d and 2s 6d a sack. Walnuts—sd and 6d a lb. Cauliflowers—3s and 4s a dozen. Lettuce—ld to l}d each. Rhubarb —4d to 6d a bunch. Gooseberries—let and l}d a lb. Strawberries —Bcl and 9d a pottle. Cherries —5d and 6d a lb. Green Peas—lOd and Is a peck. Tomatoes—7d and 8d a lb. Red and Black Currants—3d and 4d ib. Raspberries —7£d and 8)cl a lb. Peaches—3}d and 4d a lb. THE RESERVE BANK. THE WEEKLY STATEMENT. (Per Press Association). WELLINGTON, January 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 December 30:—

Proportion of reserve to notes and other liabilities 98.848 percent THE WHEAT MARKET. QUOTATIONS IN BRITIAN. LONDON, January 2. Wheat and wool began the New Year well, wheat futures in Liverpool jumping 2d during the first few minutes There was brisk trading in bulk lots, and the rise was maintained despite profit-taking. Australia at present is calling the tune as the only source of cheap supplies. Sellers are displaying reserve, as, if the Far Eastern demand for Australian wheat revives, markets will be very short, and prices will go higher. Futures are quoted:—London: January, 32s 2d per quarter; May, 31s 8d per quarter. Liverpool: March, 6s 8d per cental; May, 6s 6}d; July, 6s 6}d. PRICES IN MELBOURNE. MELBOURNE, December 3. Wheat is quoted at 3s 10}d a bushel, but business is at a standstill owing to the holiday in the grain trade. Other grain and produce quotations are nominally unchanged. CHICAGO QUOTATIONS. NEW YORK, January 2. Chicago wheat futures are quoted:— May, 102 £ cents a bushel; July, 91:}; September, 90}. BURNSIDE STOCK SALE. DUNEDIN, January 3. There were small entries in, all sections at the Burnside sales to-day. In the beef section 206 head were forward, the offering including a large percentage of cows and heifers. The sale opened with a small attendance of buyers, and the prices for all prime cattle recoded £1 a head, while aged and unfinished cows declined 30s a head. Store Cattle—The market attracted an entry of only 60 head, the offering comprising heifers and cows, there being an absence of steers. Vealert barely made late rates, while cows and heifers were sold at reduced values. The fen dairy cows forward were of mixed appearance, and the best ol these sold to £5. On. account of the very short supply in tho sheep section, only 339 being penned, there was keen competition. The yarding consisted piincipallv of owes, there being oniy odd pens of wethers. The sale opened with prices equivalent to the best which ruled at the previous market, but the demand quickly improved, and over the final races a rise of 3s a head for all classes was obtained. In the lamb section 141 were yarded. Competition was confined solely

to butchers, and values generally were Is a head easier. The fat pig entry numbered .40, and consisted mostly of baconers, for which there was an easier demand and lower rates had to be accepted. An average entry of store pigs met with a satisfactory sale. BRADFORD TOPS MARKET. LONDON, January 2. The Bradford wool trade is optimistic, and top-makers are not seeking business pending the testing of values next week. Spinners are pressed tor quicker deliveries, and are working overtime. The market is fully him. The tops market is fairly firm. 1 lieie is slightly more demand for merinos. Quotations per ib are as follow7o s, 33d; 64’s, 31}d ; 60’s, 30.}d; 58’s, 24}d; 56’s, 20d; 50’s, 16d; 46’s, 13}d; 44 s, 12} d. DAIRY PRODUCE IN LONDON. LONDON, January 2. The butter market is irregular. Quotations :—Danish., 128 s per cwt; New Zealand (choicest salted), 995; Australian, 98s; New Zealand (unsalted), 102 s to 104 s; Australian, 102 s. The cheese market is firm. New Zealand, white, 57s to 58s; coloured, 625. Australian is nominal, and 3s to 4s per cwt less than New Zealand. The National Mortgage and Agency Company of New Zealand, Ltd., ieport having received the following cablegram from their principals, Alessrs A. J. Mills and Company, Ltd., London: — ■ , Butter— Market is firm. Finest 98s to 995, firsts 97s to 98s, Danish 1265, f o.b. 107 s, Australian 97s to 98s. Cheese—Market is firm. White 5/s to 58s, coloured 61s to 625, Canadian e.i.f. 60s to 625.

LIABILITIES— £ s. d. Paid-up capital ... 500,000 0 0 General reserve ... 1,000,000 0 0 Bank notes 10,720,554 10 0 Demand liabilities— (a) State 3,696,061 4 5 (b) Banks 9.678,904 15 1 (b) Other 362,143 7 3 Time deposits ...... — Liabilities in currencies other than New Zealand currency — Other liabilities .... 113,916 7 7 Total £26,071,580 4 4 ASSETS- £ s. d. Reserves: (a) Gold 2,801,733 0 0 (c) Sterling exgo 21,398,948 16 0 (c) Gold exchange __ Subsidiary coin .... 195,812 10 8 Discounts — (a) Commercial & agricultural bills — (b) Treasury and 4 local body hills — State undertakings — (b) To other publie authorities . — (c) Other — Investments 1,639,181 2 2 Other assets 35,904 15 6 Total £26,071,580 4 4