COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 77, 13 January 1936, Page 7

COMMERCIAL NEWS

FROZEN MEAT TRADE. PRODUCERS’ BOARD REPORT. The New Zealand Meat Producers Board has received the following cable from the London Office, dated Jan. 11, advising that the following are the ap* proximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, arid are for representative parcels of the goods offering during the week, being tor business done on the basis of delivei ed to Smithfield market and/or ex London stores: — Mutton. Canterbury and North Island selected crossbred wethers and maiden ewes 57 to 641 b 4gd, 65 to 721 b 4|d. North Island—4B to 561 b sid, 57 to 641 b 4fd, 65 to 721 b 4§d. Ewes—4Blb and under 3|d, 48 to 641 b 3Jd, 65 to 721 b 3d., Lamb. North Island Downs—New season’s: 361 b and under Bd, 37 to 421 b Bd. Second quality: Average about 301 b / fd. Nortri Island—First quality: New season’s: 361 b and under 7Jd, 37 to 421 b 7|d. Second quality: Average about 311 b 7£d. Australian—Victorian: First quality (new season’s): 361 b and under 7fd, 37 to 421 b 6{jd. Argentine—First quality (new season’s) : 361 b and under 6fd, 37 to 421 b 6gd. Beef. N.Z. Frozen—Ox hinds, 145 to 2101 b 3|d; ox fores, 145 to 2101 b 2§d. . Argentine Chilled —Ox hinds, 145 to 2101 b s§d; ox foi'es, 145 to 2101 b 22d. Uruguayan Chilled—Ox hinds 145 to 2101 b 5Jd, ox fores 145 to 2101 b 2|d. Australian Frozen—Ox hinds 145 to 2101 b 3id, ox crops, weights corresponding 2§d. Chiljed—Ox hinds 145 to 2101 b 4§d, ox crops, weights corresponding 21 d. Southern Rhodesian chilled Ox hinds, 145 to 2101 b ox fores, 145 to 2101 b 2sd. Pigs. N.Z. Porker—First quality: 60 to 801 b 7d, 81 to 1001 b 6|-d, 101 to 1201 b 6d. Prime baconer—-121 to 1601 b s£d ; Lamb market—First quality easier owing to heavy Australian arrivals, but demand has improved at the lower prices. Second quality remains steady and unchanged. ' Mutton market—Light-weight wethers remain firm with heavy-weights slightly easier. Ewes—Market quiet and unchanged. Beef market—Frozen beef steady. New Zealand porker pigs—Lightweights easier owing to increased supplies and also lower prices Home-killed. Heavy-weights unchanged. New Zealand baconer pigs—Market steady and unchanged. l . DAIRY PRODUCE. IRREGULAR MARKET. The New Zealand Dairy Board has received the following market report from its London office dated January 10: Butter. New Zealand—(Salted 96s to 97s (last week 98-100 s), equals approximately 11.31 d f.0.b.; unsalted 102 sto 104 s (102-104 s). Australian.—Salted 95‘s to 965; unsalted 101 s to 102 s. Market irregular throughout this week. New Zealand retail price unchanged, Is. Danish—loos f.0.b., 122 s spot. Market quiet. Argentine—Unsalted 94s to 100 s. Dutch—Unsalted 96s to 109 s. Market firm at close. Danish retail price irnchanged at Is 3d. Cheese. New Zealand —White 56s to 5/s (57*; 6d to 58s), equals approx. 6.22 d f.0.b..; coloured 60s to 61s (61s od to 625), equals approx. 6.73 d f.o.b. Australian —White 53s to sos; co - oured 57s to 59s (57s to 595). Market quiet. New Zealand retail price, unchanged, 7d. F Canadian-White 59s to 625, coloured 61s to 645; old season s white 64s —Finest farmers’ 96s to 106 s, factory 48s to 50s. Market quiet. Minimumi Prices. The minimu mfo.b. prices for the period January 11 until further* notice are:— Butter, lljd, less 1 per cent, commission (92s lOd, c.i.f.e.). Cheese—sj|d, less 1 per cent, commission (49s 7d c.i.f.e.).

UNION BANK OF AUSTRALIA.

PROFIT FOR YEAR £214,984. LONDON, January 10. The profit of the Union Bank of Australia for the year was £214,984, and there is carried, forward £126,010. A dividend of 2s 6d a share is recommended. JAPANESE WOOLLENS. CHIEF MARKETS IN TH$ EAST. With the statement made by a Japanese authority that Japan is likely to purchase over 800,000 bales of avool in Australia this season, interest attaches to the manner in which Japan s purchases of the staple are utilised. The “Sydney Morning Herald” reports that the greater part of the supplies are used within her own borders, but an increasing quantity of them is passing .into the production of fabrics for export. Figures published by the Imperial Economic Committee show that from January to July this year her exports of wool fabrics totalled 15,041,000 square yards, an increase of 2,366,000 square yards compared with the similar period of 1934. During the whole of 1934 her exports of wool cloths and serges totalled 16,128,000 square yards, an increase of 8,474,000 square yards on 1933. Considerably larger exports of other wool textiles and Mouselline de Laine, in which wool is used, were also made. In 1934 the most notable shipments

of wool cloths and serges were made to Kwantung Territory, 4,666,000 square yards, Manchukuo, 810,000 square yards, China and Hong Kong 2,365,000 square yards, British India and Ceylon 4,533,000 square yards, and Egypt 1,688,000 square yards. These totals show that her chief markets are in the East, where the purchasing power is low. With smaller manufacturing costs, Japanese millmen. are able to sell goods at figures which are likely to encourage the use of woollen goods among Eastern people. The entry of their products into the quarters mentioned has had ill effect on the shipments of fabrics made by Great Britain and Continental countries, but should result in a greater consumption of wool due to the reason previously stated. As a matter,of fact, small quantities of Japanese woollen fabrics were shipped to- the United Kingdom, Germany, Norway, Sweden and other European countries in 1934. THE SHARE MARKET. The following sales were made on the Christchurch Stock Exchange on Saturday : LISTED STOCKS.

Sales on ’Change. Jg s. d. 400 Com. Bank of Aust. (4) 0 19 0 200 N.Z. Refrig. (10s pd) (2) 0 11 0 100 Dunlop Perdriau Rub. 0 16 8 100 United Provisions ... 0 14 6 50 Mount Morgan (ex , div.) 1 17 7 Sales Reported. £ s. d. 40 National Bank of A/asia (£5 paid) 7 2 6 50 Natl. Bank of N.Z. ... 3 11 0 100 Aust. 'Glass* 4 3 0 50 Mount Morgan (ex div) 1 17 6