COMMERCIAL.

Press, Volume LX, Issue 17984, 30 January 1924, Page 10

COMMERCIAL.

RUSSIAN TRADE REVIVAL. MACHINERY FROM BRITAIN. LOXDON, January 14. Tho Manchester correspondent of ■'•The Times'" states that the MoscowGovernment is now ordering considerable quantities of English machinery, ;\ml that there is a strong possibility of further business b.,-ing done at an early date. . Although the soliciting or orders by foreign commercial representatives is not allowed bv the Soviet Government, Uriti.-h firms arc finding efficient means tif ni".l;ing their products known in quarters where their need exists. Recent experience suggests that a substantial increase in business may shortly be forthcoming, as the long credits which, even in pre-war days, made Britishers so littlo inclined to cultivate Russian markets, are not always insisted upon now. Indeed, there have been recent cases where gold has been deposited in London to cover i he full amount of the purchase before delivery was made in Russia. END OF MORATORIUM. A DOLEFUL PREDICTION. - ■ (rnESS ASSOCIATION TELEGRAM.) ASELBURTON, January 29. "There arc going to be sensational happenings when tho moratorium expires shortly," said a prominent commercial lawyer to-day. "Many people aro under the impression that the moratorium, which prevented them from collecting debts except by the special sanction of tho Courts, safeguarded their claims against the Statute limitation till the moratorium was lifted. "That has never yet been established bv the Courts, but the time will come at the expiration of the moratorium when people whoso claims have not been kept alive by payments on account are destined to be pitiably disillusioned. ' Tho Courts are going to be full of swindlers escaping their liabilities behind the Statute of Limitations, which extinguishes a debt after six years. This will be particularly destructive to small investors unfamiliar with the trickeries of the law, and without special • retrospective legislation the Court will bo powerless to help them." SOUTHLAND CROPS. (PRESS ASSOCIATION TELEGBAM.) , INVEROABGJLL, January 29. Harvest operations have commenced in Southland atid will be general in about a week. The dry season has brought the harvest in about a month earlier than usual. The area under crop is smaller this year and the amount of oats marketed will probably show a decline. Crops are much lighter in the straw than in previous years, and the yield will also be smaller. Seed harvested should be in good condition, Ond light samples are expected. The gjras3 seed harvest is now practically e,ver. the yields are not so large as in previous years, the samples of seed threshed 'tire plump and well filled. BIG TENDER ACCEPTED. (press association tei/egkah.) WANGANTJI, January 29. Advice was received this afternoon by the New Zealand Spiral and Lock Bar Company, of Wanganui, that its tender running into £135,000, had been accepted by the ."Wellington City Council for the supply of pipes in connexion with tho Wellington waterworks extension. SOVEREIGN AND DOLLAR. STERLING MOVES UP. (BY CABLE—PREB9 ASSOCIATION COPYRIGHT.) (AUSTRAIaIAN AND H.Z. CABLE ASSOCIATION".) NEW YORK, January. 28™ After hovering for a week around 4 dollars 23 cents, sterling to-day reached 4 dollars 24 3-8 cents. I NEW COLONIAL LOAN. (Received January 29th. 8.50 pjn.) LONDON, January 29. Tho crty editor of the~"Daily Telegraph" says he understands that arrangements are nearly completed for the issue of an interesting Colonial Government loan. , Tho amount applied for is fairly substantial, and it is probable that the stock _ will be offered for public subscription during the present week. DAIRY PRODUCE FOR AMERICA. The suggestion that Australasia might find a highly profitable -outlet for dairy produce on the American market 33 not 1 alien oerionsly by an expert in the industry tj whom tho matter was riierred by a ' Xaraliaki Daily News" reporter. "It is only another squeal from Vancouver," he said. Explaining the position, the expert eaid that it was much easier and cheaper for the Americans to draw on London lor supplies wuon they wished to fill orders. By drawing on liondon they could take advantage of Ihj then ruling market quotations, and cou.d have tho produce in the Bhopa of the American retailers in about a week, whereas, if they imported from Australia and New Zealand, a much longer time must elapse, with ths possibility of great fluctuations in tho market. "The Danes won't let the American market get too high, and make it advantageous for produce otSer fhan their cwn," ha added. ""The moment tho American market goes high enough to cover the CDst of thj Atlantic freight and tho American import duty, you will find that tho Danes will ship their surplus butter over. That is why the New York market must always remain on a parity with that of London." The expert gave it as his considered opinion that it would be better for Australia and New Zealand to remain in tho British market, whei 0 their produce would always be ready to tak? advantage of any shortage in supplies, and consequent rise in prices caused by shipments of Danish butter to America. PRICE OF FOWL WHEAT. A deputation of members of tho Pa'meraton North Sgg Ciircle, headed by Mr l-\ Boys, waited upon Mir J. A. Nash, M.P., oa Monday, in connexion with the present -position in regard to tho prico of wheat for fowl feed. It was pointed out that the cost m Palmerßton North was 7s Cd per bus.hel, and that wheat could be landed at Is per bushel less from Australia. It was . further stated that quite a number of local pou.trymen had had either to roduce the number of their poultry or else go out of business Mr Ncah stated in reply that he had already been in communication with the Minister on the subject. It was anticipated that New Zealand would bo able to supply all its own requirements this season. He agreed that the present price io poultrymen was. unsatisfactory, and he promised to urge upon tha Minister that tho Government should fake this matter under control as well as milling wheat.

CANTERBURY MARKETS.

(BT OUR COMMERCIAL EDITO3.)

Tuesday Evening.

There is little to record in addition to the week-end report. Practically all classes of grain and produce are hardening in values and figures unknown for quite soirie time have been secured for various lines. Oats are firming and sales of B Gartons have been made at up to 4s 2d i.0.b., s.i., equal to 3s 8d on trucks. A grade is quoted at up to 4s. It is stated that several consignments of Southern oats 'are arriving for the use of millers. Algerian oats cannot bo bought under 4s. There is a keen demand for chaff and up to £7 has been offered at nearby country stations. The North Island is the principal enquirer. "Wheat coining to hand is promptly taken by millers. Ryegrass, cocksfoot, and white clover arc in keen demand. The potato market is providing much less speculation this year, possibly because other produce lines axe so much more active this season. However-, there is a disposition amongst many members of the trade to leave potatoes very much alone. They have been a ticklish crop to deal with the past few years. The following are the quotations to be paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated : Wheat (new season's prices), Tuscan 5s 3d, Hunters os sd, Pearl 5s 7d. Fowl "Wheat—ss 3d f.o.b. Chaff—£6 10s to £6 15s. Oats—Gar tons- IS's 3s Bd, Algerians 4s. Cowgrass—B-Ul to 9d. Peas—6s. White Clover —Is 3d to Is 6d. Italian Ryegrass—6s 9d to 7s. Perennial Ryegrass—6s 9d to 7s. Cocksfoot—9Jd to IOJd. Potatoes —£4 10s a ton. Onions —£o a ton. Flour—£ls 10s a ton. Pollard —£6 10s f.o.b. main ports; 10s extra for smaller packing (new season's). Bran—£s 10s per ton for main ports, 10s extra for smaller pacTung. RANGIORA MARKET. The yarding of sheep at Rangiora yesterday showed an improvement, on recent eatries and all round a mon healthy toae prevailed. The total entry wis about -846, of which 620 were fats, mostly lambs Tlic irange of prices was:—lixt/a prime lambs 34s to 36s Id, prime tat lambs 31s lOd to 32s 7d, medium i!?s j.od to 30s, lighter sorts 27s 6d. Fat ewes' 23s to 275, medium 20s lOd to 255, prime wethers 32s Cd, others 27s 9d to 295. The sales were: Fat lambs—W. Plaskett, 28 at 31s'lOd; J. Moir, 11 at 23s Id; T. Shaw, 13 at 26s lOd ; A. M. Carpenter, 53 at trom 29s 3d to 30a; Carboz Bros.j 21 at 31s sd; H. Hanna, 25 at 27b lOd; L. ar.d M. Fitzgibbon, 98 at 26s 7d; W. A. Nicho.ts, 49 at 31s lCd, 119 at 29s 6d; .S. V. Quantick, 2 at 295; P. Pulley, 71 at 36s Id, 31 at 345; J. S. Hiatt, 31 at 27s 2d; C. E. Cook, 44 at 30a 8d; G. T. Hopkins, 19 at 320 7d; T. Crawford, 43 from 32s to 32a 5d ' l?at Ewes—P. Pulley, 6 at 26s to 275; C. E. Cook, 29 at. 26s 7d; client, 30 at 19s 7d; J. Borsoski, 9 at 22s Id.

Fat Wethers—J. Douds, 12 at 28s 6d; J. Hiatt, 7 at 27s Sd; R. Judson, 32 from 28s to 295; J. Davis, 13 at 28s; C. E. Cook, 13 at 32s 6d; Carboz Bros., 39 at 29s 9d. Stores—The total entry was 2231. The sales were: —Lambs: 38 at IGb lOd, 8 at 15s, 8S ct 20a 8d; 183 rape lambs at 24a 7d, 155 at. 20s 3d, 123 at 20s 6d, 15 at 17s 9d, 197 ft lGs fid to 16s lOd, 132 at 21s 6d, 50 at 23s sd. 175 at 17s od, 414 at 20s 3d, 52 at 10s; 50 forward ewes at 14s Cd, 3G at 14s lOi, 32 at 15s; 13 failing-mouth ewes at 13s 6d; 36 aged owes at 9a Id; 23 two, four, and sixtooth ewes at 283 6d; 48 aged ewes at 6s; 11 two-tooth wethers at 24s 4d, 15 at 225, 34 at 24s lOd, 83 at 25s lid, and 23 at 21s Bd. There was a vei.*' small entry of cattle, only 23 head coming forward. Dairy cattlo brought anything irom £2 17s 6d to £9 ss, 18 months old steers 425, 18 months heifers 435, dry cows 25s to 27s 6d, and bulls 233 to 355.

Being the off day for pig 3, Ihe entry was a small one, only 50 coming forward Porkers made Tip to 555, best stores 35s to 425, good weaners up to 245, and small weaners 10s to 16s.

Poultry and Produce —Roosters 13a 3d a couple, hens 43, duck 3 7s, pullets 4s a pair. Chick wh-cat 16s to 20s a bag, oats 18a. meal 16a, damaged peas 12s, oat sh=af chaff to 5a 6d, straw chaff 2s 6d, potatoes Id to 2d a lb, carrots 3 bundles la, onions lid to 3d a lb, tomatoes 4d, plums 2d, apples li<l, and pears lid, all at per lb. Sheepskins: Halfbred 15s 6d, crossbred 10s, pelts ls_6d to 2s 6d, lamb skins 2e 6d to ss, calf skins 2s 6d, fleece wool Is 2d lb, fat lid, horse hair Is 3d lb. ASH BURT ON MARKET. > There was a good attendance at the Ash'ourton yards yesterday., when the entry included 216 fat ewes, 85 wethers, 1007 lambs and 1253 stores. Prior to the commencement of the sale, Mr H. A. Lloyd, Asliburton'3 senior auctioneer, briefly addressed the largo assemblage, and referred in feeling terms to the death of Mr "W. Watson, of Christchurch. Mr Lloyd remarked that Mr "Watson had for several years sold stock at the Ashburton and Tinwald yards for Messrs H. -Matson and Co., having succeeded Mr J. Lilico. Mr Watson was an ablo and successful auotioneer, and was held in tho highest esteem. In short, said Mr Lloyd, Mr Watson was "white'* through and through, and nothing better than this .could be said. He asked all present to stand for a moment or so in silence as a mark of respect to the memory of the deceased. _ The sale was then proceeded with, and it was immediately seen that the tone of the market was going to be much more buoyant than was tho case at the Tinwala yards last week. Tho owes and wethero were of much better quality,. and sold a\, an advance- of fully Is 6d per head on last week's values. "Wethers also Bold well. Prime ewe 3 made 24s 6d to 26s 9d, second quality 21s lOd to 23s lOd. and lighter weights 203 to 20s lOd. Wetßers brought from 28s lOd to 30s lOd. The lamb sale was even better than was the caae last week, and token all round the, prices were a record for the season. Mr G. W. Leadley, of Elgin, topped tho market with 36s lid' for a line of 56, and ttis was also a record for the season. Extra prime sorts made 34a' to 3<33 lid, prime 31s 7d to 33s 9d, and second quality 27s 7d to 30s 4d Tho price per lb was from 10Jd to lOid, tho over-all price being fully IOJd. The principal sales were: Ewes—lo at 255, 12 at 24a Cd, 1-2 at 23. 3d ' 12 at 20s Id, 12 at 23a, 7 at 2Cs 9d, 8 at'26s 6d, .7 at 23s lid, U at 2Js lOd. 15 at 23s 7d, 10 at 23s lOd, 14 at 23s 7d, 25 at 245, 14 at 21s Id, 23 at 20s lOd, 12 .at 23s Id. Wethers —7 at 30s 2d, 8 at 30s Id, 17 at 30s 3d, 18 at 29s Id. 12 at 3Cs 7d, 13 at 28s lOd, 9 ttt 30s lOd. Lambs—7 at 33s 9d, 16 at 26e lid. 32 at 27s 9d. 26 at 30s 4d, 14 at 335, 36 at 33s lid, 56 ot 36s lid, 150 at 27s 7d. I]2 at 30s Bd, 68 at 32j, 57 at 31s 7d, 64 at 345, 43 at 33s lOd, 32 at 31s Id, 156 at 25s 7d, 65 at 23s lOd, 8 at 25s lid. Stores—Ss mixed ' sex crossbred lambs at 16s 6d, 53 cull eyes at ss, 115 two and four-tooth three-®!i&rterbred wethers at 233 lid, 100 mixed sex rape lambs at 20s, 411 mixed sex crossbred lambs at 2Cs Id. 50 sound and failing-mouth three-quarterbred ewe 3 at 146 2d, 32 crossbred ewes at 13s. 44 four, six. and eight-tooth crossbred ewes nt 25s 7d, 169 failing-raouih half and threoquarterbred ewes at .6s 6d. MINING CLAIMS IN SHOTOVER DISTRICT. (SPECIAI. TO "THE PF.B3S.") DtJNEDIN, January 29. There is at present considerable activity in the pegging of mining claims in the Shotover district. The Kawarau syndicate pegged tho numerous tributaries ox the Shotover between Branches flat (above Skippers), and the lower Shotover, this being in connexion with water rights. The syndicate is taking the precaution of pegging the confluence of every stream and creek running into the Shotover and the Kawarau, so as to guard against the possibility of men seizing these waters and demanding terms from the claim holders, who derive their right from the company that is to be formed out of the syndicate. If th i 3 were not done, the claim-holdcra might bo blocked. Branches flat is the spot at which the Shotover dam ia .to be constructed. _

HIGH COMMISSIONER'S REPORT.

The Department of Agriculture has received the following cablegram, dated 26th inscant, from the High Commissioner lor Zealand, London: — Railway strike dominating factor end market quiet, buyers holding Back "unless delivery is guaranteed. Official quotations are: BUTTER. Slow. New Zealand. Salted. Finest. January 26th—20"s to 2T"j3 per cwt (is 101 to Is 10id per ib). Exceptional: 212s pe.-c-.vt (Is IOJd per lb). January 19th—208s to 212s par cwt (Is 10J1 to Is 10Jd per lb). January 12th —212s to 214s per cwt (Is IOJd to Is lid per ib). Exceptional: 216s per cwt (Is lid per lb). Unsalted. January 26th—210s to 212s per cwt (Is IOJd to Is per lb). January 19th—212s to 214s per cwt (Is ICJI to Is lid p?r lb). January 12th—216s to 218s per cwt (Is lid to Is Hid per lb). Other Qualities. January 26th—184s to 20is per cwt (Is 7Jd to Is 9Jd per lb). Australian. Salted. Finest. January 26th—200s to 202s p?r cwt (Is 9JI to Is 9jd per lb). January 19th—202s to 204s per cwt (Is 9Jd per lb). January 12th—20-is to 206s per cwt (Is 921 to Is lOd per lb). Unsalted. January 26th—200s to 204s .per cwt (Is 9Jd to Is 9Jd psir lb). January 19th—204s to 206s per cwt (13 9Jd to Is lOd per lb). January 12th—204s to 208s up to 210s per cwt (Is 9J.d, Is 10J5, la 10£ d per lb). Other Qualities. SalFetl. January 26th—170s to 198s per cwt (Is 6*i to Is Old per lb). Tjnsilted : ISOa to 196) per cwt (Is 7id to Is 9d p3r lb). Argentinp. Finest. January 26th—178s to 1823 per cwt (la 7d to la 7id per lb). Exceptional: iews per cwt (Is 7£d per lb). January 19th—180s to 18(s up to 186 a per C-Wt (Is 7Jd, Is 7Jd, Is 8d per lb). January 12tli —ISOs to 1863 up to 188s per cwt (Is lid, Is 8d Is Bid per lb). Other Qualities. January 26th—l€0s to 17Gs per cwt (la Ed to Is 7d per lb). Danish. January 26t1i—216s ud to 21£b per cwt (Is lid to Is llid per lb). January 19th—220s to 222s per cwt (la llid to Is 11 jd per lb). January 12th—222s to 224s per cwt (la lljd to 2a per lb). CHEESE. Finn. English, Finest Farmers'. January 2bth—l3ss to 145s per cwu (Is 2£d to Is 3id per lb). ' January 19th —135s to 145s per cwt (la -id to Is 3Jd per lb). January 12th—135s to 145s per cwt (Is 2Jd to Is 3id per lb).. ' Canadian, Finest and Fine. Slow. January 26th—Coloured: 104s to 110s up to per cwt (lid, lljd, Is per.lb). January 26th—White: 104s, 110s, up to 112s per cwt (lid, llid, Is per lb). January 19th—Coloured: 104s to 110s per cwt (lid to lljd per lb). January 19th—"White:- 104s to Ills per cwt (lid to lljd per lb). January 12th—Coloured: 104 a, 110s, "up to 112s per cwt (lid 112 d, to la per lb). January 12th—White: 10-ia to 110s per cwt (lid to lljd per lb). New, Zealand, Finest and Fine. January 26th—Coloured: 102s, 105s, up to 106 a per cwt (IOJd. lid, to llid per lb). January 26th—White: 102 a to 104s per cwt (lOd to lid per lb). January 19th —Coloured: 10-19 to 106s per cwt (lid to llid per lb). January 19th—"White: 104s to 105 a per cwt (lid to llid per lb). January 12th—Coloured: 102s, 104 a, up to 106s per cwt lid, to lljd per lb). January 12th—White: 102 a to 10's per cwt (10Jd to lid per lb). HEMP. Manila' market steady, and no huaineoa reported. Quotations for Japuary-March shipments £34 6s to £34 10a per ton, sellers, and business has been done at theße prices. New Zealand market - continues quiet, and quotations nominally unchanged. WOOL. Sales oontinuo, demand still brisk, and prices oil average higher for all deacriptiona. APPLES. Market firm, but not advanced. Newton Pippin 12s 6d to lis per cise, Jonathan 12a 6d to 14s 6d per case. King David 12s 6d to Ida 6d per case, Spitzenberg 13s to 15a per case. WAIHI -GRAND JUNCTION.MINE. With a view to ascertaining the position and prospects of-the Waihi Grand Junction Company a mine the Waihi attorney, Mr J. E. liedpath, was seen by a "New Zealand Herald" reporter on Friday. Touching lixat on the discovery of quartz at No. 10 level Mr Kedpath said that tho disturbed naturd of the country at that depth suggested a possible displacement of the lodo system. As the Martha licet had not been intersected where expected, it had been Secided, on the recommendation of the company's consulting engineer, .Mr H. Stansfiald, to throw out an exploratory. crosscut from the drive on the Etapire Beef. This had been stairted at a point some 200 ft west of tha shaft and was projected in a north-wester-y direction. At about 90ft in, tho ore body in question was mot with. It had been penetrated for aeveral feet, with a full face o£ quartz still showing. It would probabiy, prove to be the north branch of tho Empire reef or the miasing Martha lode, most likely the latter. The development was regarded as encouraging, Baid Mr Redpath, especially in view of the fact that to date the reef system at No. 10 level hod, speaking generally, proved disappointing. Referring to the exploration of the mino at a greater depth, ho said that everything was practically in readiness to start out in search of reefs at the No. 11 level, which Was nearly equal in depth to the lowest level at present being explored in the Waihi mine. In the course of a few dfjyo scruth wouAl be corny menced, the objective being the Empire lode, which would probably be met with about 150 ft from the crosscut, and would inyolvo some seven weeks' to two montha' diriving. In putting down the abaft from No. 10 level th 9 country became more settled.as No. 11 level was approached, and thia held out the hope that the disturbed area had been passed through and that 'better resu'ta wou.'d be met with at tho bottom level'. WELLINGTON PRODUCE PRICES. Wellington wholesale produce prices are as follows: —Barley meal, lite per ton. l*inseed meal, 16s 6d. Linseed nuts, 163 Gd. Meatmeal, for poultry., 15s 6d- £>heii grit, Os per 1001b. Fowl wheat, choice whole, five sack Jots or over, 6s l(>d; lesser quantities, 7s psr bushel, sacks la Id. Shelled oats, for chickens, Os per bushel. Mixed fowl feed, five • eack lot 3 or over, 5s 9d; lesser quantities, Gs bushel, Backs in. Oats, machine dressed seed Algerians, 6s 2d; feed Gartons, 4s 7d; crushed, 4s lid; Sparrowbills 4s 7d; seed Gartons, 4s 8d per bushel, sacks in. Peas, feed 53 3d; Prussian Blue, Bs. Partridge pe,as, 7s Cd per bushel, sacks in. Maige, whole 6s 6d; crushed, 7s. Butter, farmer separator and dairy, Is 3d to Is 4d per pound. Eggs, first grade new laid, Is od to la 6d; storekeepers' lines, Is 4d per dozen. Fowls, White .Leghorns, 4s to ss; Black Orpingtons and similar heavy varieties, 7s to 7s 6d per pair. Ducks, runners, good, 8s to Ds; inferior," 6s to 7s; large white, 30s to 13s per .pair. Turkeys, Is 3d to Is 4d per pound. Geese, 10s to 12s per pair. Fungus, 7d to 8d per lb. Rock Bait, 6s 6d per cwt. Dressed pork, 60s to 90s. 6d to 6£d per lb. Chaf? oaten sheaf, Blenheim prime. £lO 2s 6d per ton, saoks in. Straw chaff, for chickens or cow feed, £6 15e per ton, sacks in. New potatoes., choice white, 0s to lis per cwt. Bran, . $ ton lots or over, £7. Pollard, § ton lots or over, £3 15s per ton. Sucrosine, £ll per ton. THE PROPERTY MARKET. Jones, ilcCrostie Company, Xitd., sold by. public auction yesterday, on account of the executors in the estate of the late £2. A. Wood, the property situate at No. 239 Papanui road J just over Leinster road, comprising section of 31 perches, together with a bungalow of 6 rooms, for £I7OO, to Mrs I. G. Jones. EGG AUCTION. Mes3r3 Harris Bro3. report that the usual weekly auction sale of Feather Brand guaranteed fresh eggs, on behalf of the Canterbury Egg Farmers' Co-operative Association, was held in their rooms, 158 Hereford street, yesterday afternoon. The following prices were realised: —Hen eggs, first crude or over), Is -4d; hen eggs, oecond £rado (under 2oz), la 3d. • - 6

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS.

Sales reported—Bank of Australia £l3 (2 parcels).

FOREIGN EXCHANGE RATES. (BT CABLE—PSESS ASSOCIATION COPYRIGHT.) (AUSTRALIAN AND N.Z. CABuE ASSOCIATION.) (Received January 29th, 7.15 p.m.) i LONDON 1 , January 23. The exchange rates are as follows: Par. Jon. 24. Jan. 28. Paris, fr. to £1 „ 25.225 94.30 92.20 Brussels, fr. to £1 .. 25.225 104.25 103.37 Christiania. kr. to £1 18.159 SO.G7 31.50 Copenhagen, kr to £1 18.159 26.03 26.57 Stockholm,'kr. -to £1 18.159 16.32 16.23 Berlin, -marks to £1 20.25 16 to 20 16 to 19 billions billionß Rome, lire to £1 .. 22.22$ 97i 97i Now York, dol. to £1 4.85 4.221 4.25 i Montreal, dol. to £1 4.86 4.33£ 4.37J Yokohama, st. to yen 21.5 25 7-16 d 25 5-16 d Hong Kong, dol. to £1 * 28d 28d Calcutta, fit. to zpe. 10 to gold £1 171 d 17Jd •Determined by price of silver. LONDON EXCHANGE. (BY CABLE—PBES3 ASSOCIATION COPYRIGHT.) (AOSTSALIAH AND N.Z. CABLE ASSOCIATION.) (Received January 29th, 8.5 p.m.) LONDON, January 28. The Stock Exchange shows a cheerful tone in all departments. •Consols ■ (2J' per cent) —£57. War Loans—s per oont., 1929-47, £96 10s; 3J per cent., 1923-29, £IOO sa. Conversion loan 3J per cent.—£76 10s. SHARES.. (AUSTRALIAN AND S.Z. CABLE ASSOCIATION.) (Received January 29th, 8.5 p.m.) LONDON, January 28. P. and O. (def.) —Buyers £285, sellers £295. WHEAT. (ACSXBALIAN AND N.Z. CABLE ASSOCIATION.) - . (Received January 23th, 8.5 p.m.) LONDON, January 28. Wheat cargoes are firm and nominally unchanged, although the darn and. is quieter. Parcels are in fair request and closed threeper.oe up. 1 ' WOOL. (AUSTRALIAN AJTO N;Z. CABLE ASSOCIATION.,) (Reccrved January 8.5 p.m.) liONDON, January 233. At -the wool sales therd were average selections and. a fair offering of crosebreds. Prices were firm and unchanged. The Bradford market' is very firm, but spinners are not operating.

LATEST QUOTATIONS. Buyers. Sellcro. £ 0 d £ 8 d N.Z, GOVT. DEBENTURES4j per cent. Inscribed, 1938 — 36 12 6 4J per cent. (Bonds. 1938 9G 7 s 4J per cent. Bonds, 1939 — 97 0 0 5 per cent. Inscribed, 1927 — 98 0 0 5 per cent. Inscribed, 1929 — 97 10 0 5 per cent. Bonds, 1930 _ 97 5 0 5J per cent. Bonds, 1333 .. ..101 0 0 101 12 6 COMPANY PEBENTURESGisborne Sheepfarmers' 7i per cent., 1931 100 0 0 101 10 0 BANKS— Australasia 12 19 0 13 1 0 New Zealand 2 10 0 Royal (fl paid) 1 15 3 1 15 9 Union of Australia 14 18 0 15 0 0 INSURANCE— National 3 18 0 3 19 6 New Zealand (cum div.) 1 10 0 1 10 6 South British 1 18 9 1 19 9 Standard 2 0 0 — LOAN AND AGENCY— Goldsbrough, Mort '2 7 9 2 8 6 N.Z. Loan and Merc. (ord. stock) 82 10 0 SHIPPING— Howard, Smith 2 11 0 2 12 0 Huddart-Parker 2 2 3 2 2 9 Huddnrt-Parker (pref.) 1 0 6 — P. and 0. Deferred .. 280 0 0 FROZEN MEAT— Canterbtiry — 15 0 0 Canterbury (pref.) 5 3 0 — N.Z. Refrig. (contr. cum div.) 0 11 2 0 12 0 WOOLLENS— Kaiapoi (ord.) 0 19 9 1 0 0 Kaiapoi (pref.) .. — 1 0 3 COAL— "Westport — 2 0 0 Westport-Stockton (ord.) 0 4 0 0 4 3 West port-Stockton (pref.) — 0 8 0 GAS— Christchurch (cum div.) 8 2 6 8 5 0 BREWERIES— Crown (cum div.) 3 1 6 3 3 0 Manning 1 6 9 1 7 3 New Zealand .. .. 1 0 0 — "Ward 2 3 G 2 4 6 CEMENTS— Wi'.son's .. .. 1 10 3 1 10 9 TIMBER— Kauri 1 9 0 MISCELLANEOUS— Beath and Co. 1 13 0 Beath, Schiess Burns, Philp 0 15 3 0 16 3 1 12 0 1 12 V Colonial Sugar 49 0 0 — Eclipse Petrol (10s paid) — 0 5 0 Electro. Zinc (pref. cum div.) .. .. 1 9 0 1 10 3 Electro. Zinc (new issu8, Is paid) 0 9 6 — Mason, Strnthera (£1 paid) .. 1 1 4 6 1 5 6 Mason. Struthers (14s paid) 0 15 9 0 16 9 Mason, Struthera (63 paid) 0 6 10 0 7 3 Mason, Struthera (4s paid) 0 4 S 0 4 9 N.Z. Miik Products 1 5 9 — N.Z. Paper Mills — 1 4 3 United Pictures 1 5 0 Dominion Rubber — 0 18 6 B.A.W.R.A. 0 19 0 0 19 5 MINING— Waihi „ „« — 1 10 0