COMMERCIAL.

Press, Volume LXI, Issue 18399, 4 June 1925, Page 10

COMMERCIAL.

PRICE OF SUGAR. ANOTHER REDUCTION. OnciAL'To "TH* FUSS.") AUCKLAND, June 3. The Colonial Sugar Refining Company announces , a reduction of 10s a ton in the price .of sugar. This applies to all grades of raw and refined sugar, golden syrup, and treacle. The last fall in price occurred on April Ist, when there was a reduction of 10s a ton. Sugar is now £lO 10s a ton lower in price than it was at this time laßt year. . Since May, 1924, when, the price was about £35 a ton, there has been a process of gradual reduction. .There was a drop of 30s last February, and another of 10s on March 13th. Within the last ten weeks prices have fallen £3 a ton. The present wholesale price of £24 10s a ton for No. 1A sugar represents a decrease of 30 per cent, compared with the price ruling about a year ago. Prices of other grades and of by-products have been reduced in proportion. The marked easing tendency is due to a decrease in the world's output, which has to some, extent be'en brought about by production of Continental beet/sugar. No. 1A sugar is now selling retail in Auckland at 17s 6d per 701b bag, this price having been fixed after the fall in wholesale rates on April Ist. CAPITAL WRITTEN OFF. (PRZSS ASSOCIATION. TELEGRAM.) ■ AUCKLAND, June 3. At a meeting, of B preference shareholders of the' Farmer s' Uhioii. Trading Company, the business was the consideration of writing off 6s a share on the B preference sharos. The proposal was carried by an overwhelming majority, the voting being:—For writing down: 36,457; against 535. The voting unit, was :one share. Both the A and B preference shareholders have now carried their resolutions, and there seems little doubt that the ordinary shareholders will. take, advantage of the resolutions' by affirming the proposition when it comes before them at a general meeting at the end of. the month. FOREIGN EXCHANGE RATES. (BT CABLE—PRZSS association— coetbiobt.) (AUSTRALIAN AND N.Z. CABLE ASSOCIATION.) , (Received June 3rd, . 9.5 p.m.) I/ONDON, June 3. The exchango rates are:—. .Par. May 28. June ?. Paris, fr. to £1 .. 25.221 97.00 ' 96.30 Brussels, fr. to £1 .. 25.22J 98.80. 100.90 Oslo, kr. to £1 18.159 28.77 29.03 ■Copenhagen,'kr. to £1 18.159 : 25.81 25.95 Stockholm, kr. to £1 13.159 1fi.16 . 18.16 Berlin, Reichmarkea . - 4o £l* .. .. Montreal, dol. toil 4.86J 4.86 4.86 New York, dol. to £1 4.86J 4.86| 4.«G Rome, ifre -to £1 \. 25:22J 1227-16 1223 Yokohama, sttoyen 24.58 2011-l(fd . Calcutta, v st torpelO to gold £ ' 18d 18d Hong Kong, st. to' dol. * 27&S 27§d Amsterdam, fl. .. 12.107 12.105 12.10 i Batavia, fl. .. 12.107.12.061-1012.061-10 ♦Determined by price of silver. .WHEAT. • LONDON, Trrne 2... ' Wheat cargoes-are neglected;-buyera awaiting the outcome of conflicting; reports from America. Quotations declined ,lato Is 6d. Parcels are quiet and declined 2s. SHARES. LONDON, June. % Bank of Australasia, £l4 2s fid. Bank of Now -South Wales, £39 10a (ex div.). National Bank of New Zealand,; 132s 6d.: Bankv ofr/Now. jZealand,. 65a;v. NeVi'Zpaland -Loan and ' Mercantile deten'tures^?£7sr'"V-: ' ' ''' : ISEW. SOUTH-WALES; WfcEAT. •''(Received Juno' 3rd, 8.10 p.m.) ~ t , ; ' SYDNEY, Juno 8/ Reports ' from ' tho Western 'wheat " arfeaa state that following on the recent rains moat encouraging planting has almost been com. plated. Seed has germinated • oxoellently. REALISING WOOL. NEW BAWRA PROPOSED. (B7 - CABLE —PRESS ASSOCIATION —COPTBIQHT.) (AtTSTBALXAX AND N.Z. CABLB ASSOCIATION.) (Received June Brd,- 8.40 p.m.) MELBOURNE, Juno 3. A.public meeting of Victorian woolgrowers decided- to request Sir John Biggins to submit- a proposal' for the formation of an association similar to Bawra, to act as a central controlling body for the realisation of wooL ; THE N.Z. GUARANTEE CORPORATION. LTD. At a meeting of directors held on Slay j 28th, tho first allotment was made of the j new shares offered to. the publio, and thosa who wish to participate in the- issue will need to make early application for the balance of the Shares. Tho directors anticipate paying a further 6 per cent, for tie halfyear ending August 81st, _ 1925, in which the new shares will participate. That -will : make a total of 10 per cent, for the year.—6