COMMERCIAL NEWS

Ashburton Guardian, Volume 57, Issue 110, 19 February 1937, Page 7

COMMERCIAL NEWS

THE RESERVE BANK, THE WEEKLY STATEMENT. (Per Press Association.) WELLINGTON, February IS. A Gazette issued to-night contains the following statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on February 15:—-

CHRISTCHURCH MARKETS. ' CHRISTCHURCH, February 18. Deliveries of fowl wheat have slackened during the past week, but with fine weather again supplies should) increase. Many farmers are threshing their wheat too soon, with the result that the grain has too high a moisture content. It is advised that the Wheat Research Institute’s service, whereby moisture content tests can be made of samples sent to the Institute in sealed tins, should be made use of, rather than running the risk of the crop being condemned.

A good volume of business has been dono in ryegrass. Quality is only fair. Cocksfoot is coming in fairly steadily, but the recent rain and odd showers have delayed harvesting. Quality so far lLas not been good, but it is too early to form nji accurate opinion of the state of the seed: generally. The following are quotations to farmers on trucks at country stations, sacks extra unless otherwise stated:— Fowl Wheat—G.W.F., 4s lid ; undergrade, 4s 8d to 4s lOd (according to quality). Oats— Gartons, 2s 9d to 3s; Algerians, 2s 5d to 2s 8d; Dun 9,2 s 9d to 3s 3d (according to quality). Cocksfoot—6d to 9d (according to quality). Ryegrass—2s 3d to 2s 9d (according to quality); Italian, 2s to 2s 6d. White Clover—6d to 7d. Flour—£l3 15s 6d, in 2001 b sacks. Bran—£4 15s to £5 5s (local price). Pollard—£6 5s £6 15s (local price). Potatoes—£3 5s a ton (prompt de--1 ivory). ' . Onions—£B a ton (prompt delivery).

SOUTH CANTERBURY. TIMARU, This Hay. Practically all lines in the South Canterbury grain, seed and produce markets have shown improvement on last year’s prices, and naturally buyers are purchasing very sparingly. Some of the bigger operators in oats are not interested in to-day’s prices, and this should have a bearing on the market. , Milling Wheat.—A number of lines iij the process of being threshed have in the majority of cases been out of condition owing to the wet weather. Fowl Wheat—Buyers generally are holding off until the Government announces its intention in regard to fowl wheat.

Oats.—A fair quantity of A and U Gartons is offering. Asa result the market is inclined to ease, quotations being 3s Id a bushel on trucks for A’s and 2s Id for B’s. Dark heavy Duns are worth up to 3s 2d and Algerians, for which there is a fair inquiry, 2s 7d.

Partridge Peas —These are worth 5s a bushel on trucks.

Chaff. —Good bright oaten sheaf is quoted at £3 5s a ton on trucks. Potatoes —There is no inquiry from the North Island for potatoes on account of local supplies still being available.

Seeds. —During the last two or three weeks, Canterbury ryegrass and Italian have shown considerable improvement in value. This is due to the wet season and to a report that the Hawke’s Bay acreage this year will be half of last year. As the North Island inquiry usually starts about this time and as there is no inquiry from that quarter any improvement in the market has been on a speculative basis. It is reported that a good many lines of Tawke’s Bay grass seed have been threshed and a’ low germination nas,

been shown. Nominal '"quotations are: Western Wolths 2s 3d a bushel on trucks, ryegrass 2s 3d, cowgrass 3d per lb. cocksfoot 6d and white clover 6d. SYDNEY QUOTATIONS. SYDNEY, February 15. Bagged wheat is available at 5s 2d. Bulk wheat in the country is quoted at 4s sd, which is equal to about 5s ex trucks Sydney. Flour—£l2 15s. Bran—£6. Pollard—£6 10s. Potatoes—. Tasmanian £7, Victorian £6. Onions—Victorian Globes £l2, white £lO. Maize—Yellow 5s 6d. White 5s Bd. SYDNEY WOOL SALES. BEST CLASSES FIRM. tJ — _____ SYDNEY, February 18. At the wool sales 11,961 bales were offered, and 9305 sold at auction. A further 2387 were sold privately. There was a brisk demand for the best classes of fleece wcol and skirtings, but other t$ pes were irregular, and values were distinctly lower. Better descriptions of comebacks and fine crossbreds were in fairly good demand at late rates. Greasy merino made 28d. THE SHARE MARKET. The following sales were made on the Christchurch Stock Exchange yesterday : LISTED STOCKS.

LIABILITIES— £ s. d. General reserve ... 1,.500,000 0 0 Bank notes 12,870,789 0 0 Demand liabilities —- State o,908,752 8 11 Banks 11,475,796 13 31 Other 828,556 15 3 Time deposits — Liabilties in currencies other than New Zealand curreney — 10 10 Other liabilities ... 143,792 Total 31,727,687 17*11 ASSETS— £ s. d. Reserves: Gold 2,801,790 0 0 Sterling exchange 18,491,012 8 2 Gold exchange .,. — 5 10 Subsidiary coin — 159,258 Discounts — Commercial and agricultural bills — Treasury and local body bills — Advances — To State or State undertakings: Dairy industry account 6,372,388 13 1 For other purposes 1,800,000 0 0 To other public authorities — Other — Investments 2,453,050 0 0 Bank buildings .... — Other assets 650,188 10 10 Total 31,727,687 17 11 Proportion of reserve to notes and other demand liabilities 68.501 per cent. GRAIN AND PRODUCE.

Sales on ’Change, £ s. d. £200 N.Z. Govt. 4 p.c. Ins., 1943-46 ...< ... 101 17 6 200 Com. Bank of Aust. 0 19 4 300 Bank of N.Z. 2 0 8 (3) 2 0 7 100 National Insurance ... 0 18 1 200 N.Z. Refrig. (£1 pd., cum div.) 1 0 3 1 0 1 200 N.Z. Rreewries (2) 2 18 11 (2) 2 19 1 25 Australian Glass 4 13 4 100 British Tobacco (2) 2 12 6 100 Broken Hill Pro. (2) 4 5 3 500 Dunlop Perdriau Rubber ... (5) 0 19 2 100 Electro. Zinc (ord., cum div.) ... (2) 2 17 6 250 Electro. Zinc (pref., cum div.) ... (4) 2 19 5 100 General Industries . 1 0 3 175 G. J. Coles ... (2) 5 5 6 (2) 5 5 9 (2) 5 6 0 100 Hume Pipe (Aust.) ... 1 1 5 150 Kauri Timber 1 3 11 200 Gillespie’s Beach (cum div.) 0 1 Gi 500 Maori Gully 0 0 6 100 Okarito 0 3 9 2000 Skippers ... (3) 0 0 34 400 Mount Lyell • (3) 2 6 9 2 8 6 2 8 7 2 8 9 300 Mount Morgan (3) 0 17 1 Sales Reported. £230 N.Z. Gov. 4 p.c. Ins, 1943-46 101 10 0 100 Natl Bank of N.Z. 3 1 9 100 Bank of N.Z. 2 0 8 100 N.Z. Refrig. (10s pd. cum div.) 0 9 4 50 Broken Hill Prop. ... 4 5 0 50 N.Z. Breweries 2 19 0 50 British Tobacco 2 12 9 200 Dunlop Rubber (2) 0 19 2 25 G. J. Coles 5 6 6 50 Mount Lyell o 8 9 UNLISTED STOCKS. Sales on ’Change. 25 Wool worths (W.A.) 7 5 3 150 Woolworths ((Sydney ord.) ..." (5) 8 8 0 , Sales Reported. 100 Woolworths (Sydney ord.) ... (2) S 8 6 100 Selfridges (A-asia., old, cum rights J L 19 6