COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 99, 7 February 1936, Page 7

COMMERCIAL NEWS

THE RESERVE BANK. THE WEEKLY STATEMENT. (Per Press Association.) WELLINGTON, February 6. 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 February 3:— LIABILITIES—- - J

Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities 98.518 per cent, grain and produce. CHRISTCHURCH MARKETS. CHRISTCHURCH, February 6. Large quantities of milling wheat are now coining forward, and business is mostly concerned with this. Uats prices show an inclination to ease. Potato quotations are still L 3 ior April-June delivery to farmers, and onions are quoted at 50s for prompt delivery. Quotations are as follows Ryegrass— ltalian, Is 6d (on trucks), perennial, Is 6d. , • , , . Oats —Algerian, Is 6d (on trucks) , to 2s; Duns, 2s to 2s 3d, according to qU ßran—Local, £4 15s; shipping, £4 I.os. . • Pollard—Local, £5 los; shipping Flour—Local, £l2 7s; shipping, £ll 12s with usual increments for smaller lots. PRICES IN AUSTRALIA. SYDNEY, Feb. 6. Wheat—On country sidings, bagged and bulk, 3s OJd, which is equal to 3s 7d, ex trucks, Sydney. Flour—£l2 7s 6d. Bran—>£s 10s. Pollard—£s 15s. . Potatoes —Tasmanian £t 10s to *.». Onions—Victorian, £5 to £6. Maize—ss 9d. ADELAIDE, Feb. 6. Wheat—Growers’ lots, 3s 5Jd. Flour—Baker’s lots, £ll 2s Gd. Bran and pollard—£s 12s 6d. Oats—Algerian, Is 8d to Is 9cl. Barley—ls lOd. THE PRICE OF WHEAT. CONSIDERATION BY COMMITTEE. CHRISTCHURCH, This Day. The Wheat Committee met yesterday to decide the prices to be paid for this season’s wheat to the farmer and by the miller, but no decision was come to, and the meeting was adjourned till to-day. The whole industry is anxiously waiting the announcement, about which there has been a good deal of speculation following the inquiry conducted into all sides of wheat growing, milling, and baking, by thq new Minister for Industries and Commerce (the Hon. D. G. Sullivan). It is possible that the final payout for last year’s crop will also be announce j. at the conclusion of the meeting. TIMARU WOOL SALES. GOOD QUALITY OF THE CLIPS. The catalogue of 26,000 bales to be offered at the second wool sale at Timaru, on Monday, is probably tho largest over offered in South Gantei - busy, and is 4000 bales in excess of the second sale last season. The sale will start at 7 a.m., to allow buyers to catch the express for Christchurch. The catalogue quota was .unlimited, hut since. January many clips requiring re-classing have been shut out. In some cases between 200 and 300 bales were rejected, because they could not be handled. It is the opinion of brokers that to cope with all the wool offering a. supplementary sale will be necessary. A quantity of wool normally sold at Dunedin and Christchurch has some forward, having been shut out of auctions in those centres. Farmers in South Canterbury have been able to carry more sheep, because of good turnip crops. A further reason for the heavy catalogue is that a. number of station clips usually scoured locally and shipped to the London market have been sent to this Timaru sale. Generally speaking, the clips have come forward in .good condition,

though a substantial proportion from the down country is on the heavy side and carries a fair amount of dust ft om turnip feeding, and from the dust storms in the spring. Back countiy clips, however, are in splendid conch tion.' The merino fleece entered looks well; so does the fine half bred. The catalogue composes a quantity of supei half bred from the plains and foothills, which is in excellent condition In some clips, however, the effect of late .hearing i. evident there tong a tendency to seed and dry yolk, but tlie catalogue will comprise a selection of good-conditioned wool with some choice back country lots. The approximate catalogue, witii order of sale, is at follows: Dalgety and Company ... 5,500 Loan"and Mercantile Co. ... 1,300 National Mortgage Pvne, Gould, Guinness ••• 1 , U4 . a Total 26,022 THE SHARE MARKET. The following sales were made on the Christchurch Stock Exchange yesterday : LISTED STOCKS.

THE SYDNEY WOOL SALES. VALUES VER Y FIRM. SYDNEY, Feb. 6. At the wool sales 10,547. bales were offered, 9407 were sold at auction and 1736 privately. There was strong competition from Yorkshire, Japan, and the Continent, and some support from the United States. Values for all descriptions were very firm at the previous day’s rates. Greasy merino made to 30Jd.

DAIRY PRODUCE. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London, dated February s: Butter—Quiet; 94s to 955, Danish 1 2°s. Cheese—Quiet; white 535, coloured 57s to 57s 6d.

£ 3. d. Paid-up capital ... 500,000 0 0 General reserve ... 1,000,000 0 0 Bank notes Demand liabilities— 10,075,371 10 0 (a) State 4,661,516 19 5 (b) Banks 4... 10,186,573 18 7 (c) Other 43,279 7 V Time deposits Liabilities in cur- — rencies other than New Zealand! cur124,000 0 0 Other liabilities .... 128,858 3 5 Total £26,719,599 19 0 ASSETS— £ s. d. Reserves: 2,801,733 0 0 (a) Gold (b) Sterling exge 21,919,197 0 3 (c) Gold exchange — 8 Subsidiary coin ... 195,560 lb Discounts — Cal Commercial & agricultural bills (b) Treasury and local body bills — Advances — (a) To State or State undertakings — (b) To other publie authorities t * (c) Other Investments 1,775,509 11 7 Bank buildings — 6 Other assets 27,599 10 Total £26,719,599 19 0

Sales on 'Change. d. £ B. 250 Mount Lyell (2) 1 1 3 3 3 2 650 Kauri Timber (3) 1 4 2 (3) 1 4 3 300 Hume Pipe (Aust.) . (2) 0 16 0 16 9 10 350 G. J. Coles (3) 3 Q 14 1 A 0 1 3 14 3 100 Electro. Zinc (ord., 9 cum div.) 1 15 400 Dunlop Perdriau Rubber ... (4) 0 15 10 200 Broken Hill Propty. (contr.) 1 1 y u 8 11 300 Anthony Hordern (2) 1 1 1 1 0 1 300 N.Z. Breweries (2) 2 12 9 (2) 2 12 11 2 13 1 100 Christchurch Gas (10s 0 17 6 pd., ex div.) 300 N.Z. Refrig. (10s pd., 0 cum div.) (2) 10 10 180 Mortgage Corporation 0 4 9 of N.Z. (2) 100 N.Z. Insurance (cum div.) 3 4 3 3 4 0 12 Bank of N.S.W. (cum 6 div. 34 / 100 Natl. Bank of N.Z. (2) 7 11 0 25 E., S., and A. Bank 6 4 6 200 Com. Bank of Aust. (cum div.) 0 19 3 0 19 2 Sales Reported. £ B. d. 50 Union Bank of Aust. 275 N.Z. Insurance (cum 9 17 6 3 div.) (2) 3 4 50 Dalgety and Co. 8 15 6 100 N.Z. Refrig (£1 pd., 6 cum div.) 1 2 300 Westport - Stockton Coal (ord.) (late sale Wed.) 0 1 5 50 N.Z. Breweries 2 13 3 100 Australian Glass 200 Broken Hill Propty. 4 7 6 9 (contr.) (2) 1 8 50 Claude Neon (N.Z. 100 Electro. Zinc (ord., 2 2 9 cum div.) 1 15 9 50 G. J. Coles 3 14 3 100 Hume Pipe (Aust.) 0 16 10 200 Kauri Timber (2) 1 4 2 200 Mount Lyell (2) 1 3 2 300 Worksop Extended 0 2 4 200 Natl. Insurance 0 18 11 60 Reserve Bank (3) 5 15 0 40 E., S., and A. Bank . 6 5 0 25 Natl. Bank of A/asia 15 3 0 UNLISTED STOCKS. Sale on ’Change £ s. d. 25 Woolworths (Sydney) 6 9 9 (ord.) Sales Reported. £ s. d. 25 Woolworths (Sydney) (ord.) 6 10 3