TRADE AND FINANCE.

Auckland Star, Volume LII, Issue 251, 21 October 1921, Page 6

TRADE AND FINANCE.

THE SHAREMARKET. BUSINESS DONE. *T THE 3.15 P.M. CALL YESTERDAY— New Zealand Insurance £1/R/O Oniuemuri Mines 3/(i AT THE NOON CALL TO-DAY— Wilsoim Cement 14/ i) N.Z. War Loan. WHS, Inscribed. .fSO/7/S

MARKET CHANGES. N.Z. Ineurance —Sales £1/8/0, down Cd Wilsons Cement—Sales 14/9 down 3d £100 N.Z. War Loan, 1930—Buyers £89/2/0 up 2/6. £100 N.Z. War Loan, 1938, Inscribed Sales fSti/17/G, up 2/6. SOUTHERN EXCHANGES. (By Telegraph.—Press Association.) WELLINGTON, this day. Sale on 'Change: Bank of New Zealand, £2/10/6. LONDON STOCK EXCHANGE. LONDON, October 19. On the London Stock Exchange. Waihi Grand Junction shares are quoted at: 'Buyers 7/3, sellers 7/10. P. and O. shares are quoted at: Buyers £335, sellers £355. — (A. and N.Z. Cable.) SOFT GOOCiS iPBICEtS. MARKETS UNCERTAIN. IDurtng -the war. when for all lines of goods soared upwards rapidly, a good deal was heard about '"profiteering." Today, when the position ie reversed, the Importers are seUing some lines J)elow tended cost, they still get no sympathy £<v the Joes Involved in the transaction. IHow prices have dropped may be judged by the toot that one big iM-anchester firm reports a loss for the half-year of £1,263,315. This illustrates the enormous depreciation in the value of the stock held. The result has lieen a obiiin irpon the ißrltish Government for a refund of £283.851 excess profits duty up to the end of last 'December, and another £917,(104 for the half-year ending June 30. 1921. That there is a serious to«s on many lines selling in lAnckland nt the present time is only 'too well known in the trade. This Is not confined solely to goods carried over, but applies to more recent purchases. One importer stated yesterday that evea at the present time when ordering from 'London the importer has no certainty as to what the landed cost of goods will be. As evidence, he mentioned that v line of ladies' goods wJiich were purchased on sample, from OOnslaml -last August, ■have advanced in price. Tills, however, under present conditions does not mean an extra pront made at this end. as before the goods were to hand a cable was received that there would be a 10 per cent advance ■cvn the price quoted when the samples were submitted. Under such market conditions it is extremely diffio't, and in some cases impossible, to calculate what will be the replacement cost of goods Instances -w<>re quoted of goods which arrived twelve months ago at a cost of 15/ per ya-rd bein™ n™ offered wholesale at much less tlban that figure Certain lines of woollen goods ordered two years ago at 16/ per yard, and delivered about a year ago, are now offered wholesale on a •basis of n/a per yard. Other lines with a landed cost <yC 2Z/C are quoted here wholesate at 12/6. A line in men's apparel ■which cost 4(1/ 'to laud in Auckland some monibhs ago is now offered wholesale at 27/8, and not easy to sell at 'that reduction. FEUTTLISER MARKET. RETAIL QUOTATIONS. AUCKLAND. Following are the retail prices for fertilisers at Auckland:— Guaranteed Price Deecription. Analysis, per Ton. Per Cent.

Abbreviations—N, nitrogen: SP, soluble phosphate; TP, tricalic phosphate. THE HOP MARKET. Should the crop of hops prove a good one In New Zealand this season, it will be a payable venture, as prices have risen considerably, stocks being apparently short ell over the world. In Bohemia the hot weather did serious damage. At the end of August, the output from Bohemia was estimated at only half of that of last season, and as high as £30 per ton was asked by seUers. The area under hops in England was estimated at -0.000 acres, which Should yield 200,000ewt. It is estimated that the total yield of hops this year will ' be about 400,000cwt less than for'the previous twelve months, while the consumption shows an increase. Current prices stand about 100 per cent above those rulin" at the end of 1920. " j FEDERAL RAILWAY RATES. Judging; hy the following paragraph, I which appeared in the " Australian Meat Journal," people of New Zealand should be thankful that freight charges on the railway- have not been increased:—" The Northern Territory wharf charges for frozen meat were increased from 1/6 to 4/ per ton by the Federal railway authorities recently. This naturally is their little joke, as the ' charges, wages, and other tomfoolery bad • already closed the works and killed the . export trade. Other increases to give the . trade encouragement to start are 33 per' cent to 100 per cent on all by-prodticte of , the works, and _i£her charges on shins I loadlngmeat. One ship on her last trip I paid £206 for wbat she paid £20 on her previous visit." *

BANKS- Sellers. Buyers. National .V16/0 .. 5/13/0 New Zealand LV11/0 ... 2/10/0 Union of Australia... 12/11/0 .. — INSURANCE— National 2/m/fi .. 2/1S/0 New Zealand 1/8/fl .. 1/7/0 South British 1/lR/O .. 1/15/0 Standard — .. 2/10/Ji FINANCIAL— N.Z. nnd KiTer Plate IS'0 ... 17/1 Loan and Mercantile. S5/0/0 .. 80/0/0 COAI Hlkuransi 12/0 „ n/0 Northern 1,0 .. 1/0 Taupiri 17/fi .. — Waipa 14/li .. 12/0 GAS— Auckland (p.u.) 1/3/3 .. 1/2/8 Auckland (eont.) 1/ti/O .. 1/6/0 Birkenbead 1'0/fi .. — Gisborno 12/6 .. — SHIPPING— Dcvonport Ferry 1 '3/0 .. — Iluildart Parker (ortl) :;/•"■.':: .. 2/4/3 Nortliern Steam (p.u.) 14,0 .. i:t/0 Union Steam (pref.).. — .. 17,'U TIMBEK— Bartholomew 1/0/3 .. — Kauri Timber — .. 1/4/0 L.O'B. Timber 1/11/6 .. 1/8/0 Parker, Lamb — .. 1/17U WOOLLEN— Kaiapoi (10/) p.u.).... — _ 10/6 MISCELLANEOUS— Aucklnnd Trams 13/6 .. 14/0 Auckland Trams (nref.) — .. 15/3 Bycroft, Ltd. ...'.... 1/0/3 .. — Hill and l'lumniur ... 1/2/0 .. — Theatre, ArcaUe (ord.) — .. l/o/O Theatre, Arcade (pref) IS/9 .. 17/0 Milne. Choyce (ord.).. — .. 1/0/9 Milne, Choyce (deb.). 1/1/0 .. — National Pk-tiues- l'.i/o .. 16/0 N.Z. Drug 2/15/0 .. 2/14/0 N.Z. Home Builders.. 0/;> .. — N.Z. Paper Mills 1/3/U .. — N.Z. Kefrif, (cont.)... 10/0 .. — Northern Boot — .. 17/6 Sharland and Co. ... — ;. 1/0/0 Takapuna Truuis .... 12/6 .. — Thames Theatre .... — .. 12/0 Touson Garlick 17/0 — Utiiou Oil 1/0/B .. — M"iseruau aJid Sons .. i(i/6 .. — AVilsons Cement 13/3 .. 14/s MINING STOCKS— llauraki Reefs , 0/2 ., 0/1 Ohineinuri Mines a/11 .. 3/7 Waihi 1/2/0 .. l/i/o .Wuiht Gniud Junction S/10 .. S/j DEBENTURES— N.Z. War, 1U30, 4i p.c. — .. SO/2/6 N.Z. War, 11)41, 4J p.c. 86/10/0 .. — N.Z. War, 1927, 5 p.c. — .. 01/0/0 N.Z. Ins., l»as, *i p.c. S7/.V0 ., —- N.Z. Ins., 1U3U, 4J p.c. S7/10/0 .. — Soldiers' Loau,5i p.c. 02/10/0 „ 92/0/0

Nitrate soda N 13$ Sulph. ammonia.. N _0 Superphosphates.. SP 38 Bone meal (Calcutta) TP 49 Bone flour (Sydney) TP 4S Basic slag 17._0 Potash sulphate... 03.06 Kainit £32 10/ I £25 £1 15/ £15 £13 £0 15/ £30 £7 15/