WE TRADE AND FINANCE.

Auckland Star, Volume LII, Issue 281, 25 November 1921, Page 6

WE TRADE AND FINANCE.

under X" THE SHAREMARKET. Dominion from i.l u.li) BUSINESS DONE. Tlic indicn moderatu t<> HK 3.15 p.m. call yesterday— to south. iickland Gas (p.u.) £1/3/6 n- „,!, .u-klun-d Gas (i-out.l £1/11/0 MenUier H, ne and choyie (deb.) £1/0/0 probable. ahi fl/l/G Barumcter u B NOON CALL TO-DAY— soon - Wiind Gas (p.u.) (£l/3/6)

Tide * I""""- - Sellers. Buyers »1 — .. O/IH/6 __ _~ paland 2/0/6 .. 2/8/ i) TO-DAYS W't Australia 12/fr/O ..111/10/0 4ns. i4u/ paid). 4/11/15 .. — CCX — iU-oBBKRVAT"'^■;;;;;;;• 1/B y 9 _;• gj™> iritish 1/15/0 .. 1/14/S Station. Wir^i,— Cape Maria. W. liid IJiver Plate — .. 17/G W li J<i Mercantile. 83/0/0 .. 80/0/0 £i u f* e11 •"••■ „.' N Merc, (pret.) — .. SD/0/0 Hoklansa TI Vi .Hi Maniibau H W, bg_j 10/6 .. Auckland... W. lfn — ■• 0/4 Glsborne Cain , 17 / 6 •• — Taup0....... MV. ,rt Stockton.... 7/3 .. 6/3 pler <!ll ind (p.uJ 1/4/0 .. 1/3/3 Tiansanui... >"\\ind (cant.) 1/11/6 .. — c - -nt.. N.iNG — C. Farewell, wm'ort Ferry — .. 1/1/0 ~ p qlllspr N iart Purker lord.) 2/4/0 .. -j/z/:) *-• ralliser. > iern steam (cont.) — .. 5/0 Welllnstou.. find o. Deferred.. 310/0/0 .. 280/0/0 C. Campbell SBR— CbristcbiirelJ rtllo l° m P w Timber 1/0/0 .. — Bluff barker, LiiDib 1/7/0 .. 1/^/0 Kalapoi (onl.) — .. 1/4/0 Kaiapoi (10/) — .. 12/3 MISCELLANEOUS— Auckland Trams .... 13/3 .. 14/fl Auckland Trams (pref) — .. 13/(3 Bycrof t, Ltd 1/0/0 .. — Colonial Sugar (FIJI). 9/10/0 .. — Mo< mil an( i piumiuer 1/1/0 .. — V Theatre Arcade (ord.) — .. 1/5/0 Theatre, Arcade (pref) . — .. 10/9 Milne, Choyce (ord.).. — .. 1/0/0 -J- 1 ' Milne, Choyce (deb.). 1/1/0 .. 1/0/3 4 New Zealand Drug... 2/13/0 .. — 1 N.Z. Paper Mi 115.... 1/3/0 .. — N.Z. Refrig 1/10/0 .. — N.Z. Refrig. (cont.).. ir>/!> .. — Northern Boot 1/1/0 .. 19/0 Parenga Oil 11/6 .. 10/0 Parenga Oil (cont.)... — .. 5/3 Snarland and Co. ... — .. 19/e Takapuna. Trams 12/0 .. 9/0 Toneon Garllck lti/9 .. — Union Oil 1/6/0 .. - Wilsons Cement 15/9 .. 15/G MINING STOCKS— Hauraki Reefs 0/3 .. 0/1 Komata Reefs — .. 0/1 Vaihi 1/1/n .. 1/1-0 Waihi Grand Junction 8/10 .. 8/7 DEBENTURES— N.Z. War, ID3O, 4i p.c. — .. 89/10/0 N.Z. War, 1038, 4A p.c. So/10/0 .. — N.Z. War, 1927, 5 .p.c. 92/0/0 .. 91/0/0 N.Z. Ins., 1927, 5 p.c. — .. 01/0/0 N.Z. Ins., 193), 5 p.c. ni/10/0 .. — <i.Z. Ins., l!r3S, 4i p.c. So/15/0 .. — N.Z. Ins., 1939, 44 p.c. 85/10/0 .. Loan, 5J p.c. n2/7/G .. 02/5/0 .soldiers' Loan, Ins., 5J 92/10/0 .. 9^/0/0 —__ .

MARKET CHANGES. P. and O. Deferred Stock—Buyers £280, up £6. Milne and Choyce (oril.)—Sales £ 1/0/6, up 6d Wailil—Sales £1/1/G, up 3d. NO DEMAND FOR TAI/LOW. LONDON, November 23. Owing to continued lack of demand the treunl 'caltow sales were not held to-day.— (iA. and >\Z. Cable.) AUSTRALIAN PRODC'CK ISSDNET, November 24. Oats.—Alu-erian, feeding 3/3, milling 3/6, ■white 3/6 to 3/7. -Maize.—3/. > Potatoes.—Old In 10/, new locate £10. Onions.—New Silverskins £4, Spanish £6. ADELAIDE, November 24. Oate.— 2/.—(A. and N.Z. Cable.) FIRST WOOL SHIPMENT. CHRISTCHURCH, this day. The first wool shipped for England for welve months is doing aboard the MataKana, now at Lyttelton. There are 4000 bales of Imperial Government wool to be shipped for London. About 1500 bales /of Imperial wool are lying at Lyttelton at present. OVERSEAS SIK?-\!R MIABKETS DEPRESSED. While in New Zealand we have little to complain of in connection with the cost of sugar, a glimpse into overseas conditions reveals that costs are rapidly declining, this movement being principally caused by the enormous increase in crop A considerable amount of' attention is thn h be -' to l T ed °" the sugar markets thronphout the world, owing to the fact that there seems to be a general price warfare amon? the reflners, and even amongst •wholesalers, consequently reductions are h?ted in all markets, and the effect is to lower all dependent lines, such as tinned depart fruits. Jams, confectionery, etc., Ztc This price-cutttne is now so acute in an endeavour to hold trade and to secure new uiistness to clear surplus stocks that prices are varying daily, and until stocks are reduced to normal we do not look for bedmarke V (S Ue WbE establisnea the eugar The principal feature undoubtedly in the ■prevailing conditions is associated with the excessive stock at present held in Cuba The total stock in 'Cuba is 1,205,000 tons as compared with 301,000 tons at thie time 9w!o^Ton S s hOWinS tberefOre an ta ™»" ° f This excessive stock is exercising a very depressing effect on the markets, also it M questioned whether it is possible to arrange « 01 " tMs h " ee or whether liquidation most result. American granulated and Belgium crystals "** Jf ln «* re t 1 y Pressed for sale, conscflnBritish f^rL_ refiners are meeting the competition by frequent reductions in prices. GROWER'S LIMIT TEA (PRODUCTION. Keports received this week mention that this year will reveal very restricted production of tea, as the heavy accumulation of etocks held a year ago made it imperative if tea-grorwing was to be a paying proposition, that some decisive action would lave to be taJcen to improve the prospects and consequently it was generally agreed amongst growers that a limit to production would be the surest -way to get tea back to a marketable proposition. Indian, Ceylon, and Java tea growers mutually agreed, 'therefore, to restrict the production during this seneon by one rourth,\ so ac to relieve the London market, which was extremely congested. Heavy supplies always produce low returns, whereas underproduction forces prices upward, until the producer flnds it profltable to extend his gardens and produce more tea, with the ■result that again markets become glutted, and so this market becomes an everchanging one. The restricted production this season is giving the desired effect. The latest advice from Assam told us that up to the middle of July the crop of Indian tea was 53,000,000 pounds short, compared ! with the came period last year. Ceylon reports a shortage of 18,000,000 to 20,000.000 pounds at the same time. Java reports that only half the quantity had been secured compared with a year ago. No second or third crops may be expected from China this year. The future evidently is an interesting one to the trade, inasmuch as pric-es look like advancing, but although we see a heavy deficiency in this year's crops, we must not lose sight of the heavy carryover from last season. FERTILISER MATtKET. RETAIL QUOTATIONS. ATJCKLAnJ). Following are the retail nrlceii fnr fertilisers at Auckland:— ; prlces for

Guaranteed Price Description. Analysis, per Ton. Pe? Cent. Nitrate soda N 15$ £32 10/ SiUph. ammonia.. N 20 £s ' Superphosphates.. SP 38 £7 ig/ Bone meal (Calcutta) TP 49 OS Bone flour (Sydney) TP 43 fig BmIc slag 17.20 £8 15/ Potash sulphate... 03.06 £30 Xalnlt £7 15/ Abbreviations—>\ nitrogen; SP, aolnWe PfcoepUate; TP, IzlcaUc phoepnate.