TRADE AND FINANCE.

Auckland Star, Volume LII, Issue 282, 26 November 1921, Page 8

TRADE AND FINANCE.

AUCKLAND SHAREMARKET. THE WEEK REVIEWED. BitKiunK! on 'Change showed slight improrr-ment this week as f;ir as lnvestincnt were ct>ncerne<l, thoro being nvoro transaatioup reported. yhare-s iv mining <.oiDpanie.% however, showod lifctlo uhanse. with the pxceTvtkm that, sa'.cs were made yeet<?rday of Wailirs at a slight a'l"vjmce. 21/G beinp iiaid. trovcrnroent loan* had more attentionthin week, -tihcro inqtiiries for nine lftffercivt lines vesrtp.rday. ITir 4* per cent issues, IH.TB. raseil to srtlers at £S5 XO/. and ■this brought in buyers for all four issues at. £Si 1O . The .". i>er cent loans 1027, were placed nl £31 10/, nnrt Sokliera* Loan sold 111 BT£ 5/ nml R« T/fl. P. nml O. deterred nrme<l a little, buve-rs now offering i2SO. bnt sellers asked £330. Eankins stock liave n«t nail much attention, with the ,;xeeption that occasional sales were made of Xvw 2iealaud.s at 49/, and buyers of XationaJe ndTanced tu«r offers to £5 13/6. T%e 45,' paid <np iiwiip of Union Bent of Auetralia were transferred at Ul/6 <?:vrHer in the Tveok. sal«n were nm-de of Andda.n<l Gaa, 23/0 suwl 23'!> beinß given for pahi up issue, ami Sl/6 for 'the contrlbratins shares. Hndilart Parker Stenjn ordinary shares tinned to buyers at 44/ yestewlay, but another tlrreepeace -wvirid have led to business, antl this not Sirett. Auckland Tramway shares liad snles at 15/ lor ordinary, ajxj Iβ.' for ipreference issue. Inenrasce shares showed little <-h«nge upon last w«ek'» position. caving that an extra threepence mis offered for Sonth British. Mirue and Choyce, Ltd., sold <at 20/6 for the ordinary issue, and a similar figure was rrariti for the deoe'nture stock. 'A transaction was Tpportwl tn Coiouial Sucar. Fiji iaene, at f» 18/, but the AusrraMan noe were not quoted tbi» week. Kaiapoi Woollen shares had atteotion this ■week, '24/ being offerpd for paid Issue, and up to 12/3 for contrßnittng. Kanrt Timber sharee heii inquiry dmrinj; fbe week at 2»/<J, Imt *his did not lead, to .business. Ptereoga Oil were tvanted this w-eek at 10/, with sales at 11', while tlie tontrHurtinu isune could be placed at S/8. Wlflsona Cement inalDtained ithe rise noted last week, and hß<3 regular buyers at 16/6. CANTERBURY GiRAIX iMAIUiET. ' (By Telegraph—.Press Association.) CHrIWiSTCHITKCn, Friday. ryegrass, which has been meetIng with a very .stagnant for some 'time, showed a tendency to revive a weeK ago. An ep-portune reduction during the ■week in the freight rates- to lEngland developed 'the movement. Whatever stocks merchants are holding locally there is uot much offering, and the frulU of the substantial business already transacted ana in progress has 'been -with the South, where there was a heavy yield lust season. The Mataiana, whine Is to leave Lyttelton this ■week, is taking a fair quantity to London, nod the "Westmeath, .booked for departure next week for We3t of lEngland ports, is also hiklnjr considerable quantities. Tinai■ness this week was done at 4/2 for export, anfl subsequent sales showed advances on that figure. Southern transactiens being ■from 4/9 to 5/ for good heavy seed. To (farmers the price for average unelassed. quality Is abont 3/3 to 3/0, according to quality. The demand is due, no dottbt, to the effects of the drought iv ißnfdand last summer, and the almost total ifatture of the red clover crops on the Continent. Oats continue lifeless, any business done toeing confined to small parcels. It is nnderstood the matter o£ handling next year's ■wheat crop is now exercising the attention of the authorities. The chairman of the Board of Trade has been in Christchnrch during the week. ■LONDON IWOOIL SAitiEiS. MeasK. and Company, Ltd., taw received the rfollciwing cable from their Lomlon offlce. <lated 21st Inst.: — Woo!.—Saless opened. iLargo attendance «* bnyerp. and <;on»petlUon fairly animated, but. irregular Fair selection offering, inelntlini; .VjOO ''bates B.A.'W.iR.A.. -iSM bales free wool, 3300 Sou Cli American. A-bont V> per cent sold. As coTnpored with iast ■ales «J<tsiiHr rates, greasy Merino wools are 10 to 10 per cent lower, trreasy; crossfcrede, line qnalirr-'-' ; io ' -per'■'e'euf lower. Illedium and coarse- quality, 7J to 1O per Cen-t lower. 'Slftk? and scoured, fine crossbred 5 iper cent lower, medium and coarse 15 per cent Urwrr. Sales close 7th December. 8.1A.W.1R.A. withdrawing Ii.OOO Merinos. Hamilton stock sals;. The Farmers , Co-op. Auctioneering Co., Hamilton, report:— At illamilton on Thursday. .Norember 34, We had a good yarding of all classes ot •tock, most of which was disposed of. Comr'tition -for 4>eef showed improvement on st week, and all lots frabmitted were •lea red. ißest steeTs made to £8 10/, lighter weights c£6 to £G 03/; best cows to 44. lighter sorts made £2 to £2 17/(i ißid- ! ittng for store cattle generralry was no Better than the recent Mies, although vendors .were in ail cases anxious to quit Tli-ee-year-old flteers. rawlinro quality ' made from £> 1«/ to £2 IVC; li-year empty heifers to £4; yearlings from 3Q/ to £2. Values in this class still continue to Qeenne. Jereer bulls sola from f7 D/ 05 tnontlis\ to f3. liairy town, for which there was a limited demand, from £7 to «>: lietters. £5 10/ to £7 The market for pigs was again weaker, although most of the offering was disposed <-.f. Baconers made JU/; -porkers 33'U to £2 10'; slips li/ to 37>/6; woaners 5/ to 14/. ' MiJIRKET 'FOR OHiE-BSE IN .LONi&OX. The arrivals of oheese In London from . Jew Zealand <lurin~ the year ended June 1921, totalled oS,3ia tons, which is aliout double Um> 'pre-war quantity. .Durln'> the eeme period Canada forwarded W,lS4° tons •f eneese. Although the visible supply in Jane, -3920. was ve-ry large, in fact far larger than at almost any previous date In the history of the trade, yet within twelve -months the whole let had gone into consumption. This -would seem to jjrore that cueese as one of the staple articles of food is as popular as ever, being cue o£ the most economical, as it Is one of the most nutritious articles of food the puWlc can Tjuy. iMe«rs. TV. Wedaell and Co.. Ltd.. In their review of the year state:—"Durin™ the past seasbii, iXew Zealand butter di< not ifußy -n»aintaln the lilgh reputation which the Dominion liad previously earned for its cheese product. The quality was not np to the standard, some being loosely made, ami containing too much moisture, "wnilo there were also, complaints of poor •fl«ToiTr anrl bad keeping properties. It Is 1 hought right to lUieutiun ihis in rbc .best interests of New Zealand, .md It Is to be hoped that the representations which have already 'been made in the proper quarters will have the desired -effect next season. One consideration must be given to the difficulties of shipment, involving as it (Ices, unusually long intervals between rlie .date of manufacture -iud the date of arri-; val here: hut the fact remains that in too many Instances the faults had originated in the factory." GOIHXAN COMPETITION. IKOJS" AND TOYS. It is an indisputable fact that in competition Germany is' steadily gaining her pre-war markets buck and establishing a footing in new territories. Uy government subsidies they ;iTe t*nn'l>letl In many instances to undercut, the unlimited issue of paper money helping in this matter. ■cJermnn iron Is now -marketed in Japan, and reported to be quoted at 125 yen a ton, or o yen cheaper than Japanese Iron, according to a report In the "Japan .Advertiser." Toys are loading .the English market and ousting by undercutting the English toys. The longer hours worked and the very low wages paid to German workmen are responsible for the advantage. BUSINESS PROSPECTS IN XEW YOEK. ■Expressions of opinion were recently sougut from executives of manufacturing concerns in New York as to the prospect of ;rnde for 1»32. Twenty-four regies were received, and in nearly every instance . they were higMy optimistic in tone, stressing mc 'Xact that manufacturers' price* have reached rock bottenn in most Instances, and that In many cases higher • cost*.can be looked for. AWg advertising . , <-ampatgn is mapped out for the new year. . TLnc encouraging opinions anticipate record Jmeineßß lit to cennpare witii 1919 and 1821. xne low peak of 'bnslneen was in April and. May, since when a gradual improvement has shown.