CREDIT FOR RUSSIA.

Press, Volume LXI, Issue 18507, 8 October 1925, Page 10

CREDIT FOR RUSSIA.

ARRANGEMENTS WITH GERMANY (bt cabli:— press association— cofyhigh-. (acstbalian and x.z. cable association.j MOSCOW, October 6. M. Sokolnikov. Commissary of Finance, has announced that the State Bank has concluded an agreement with a group of the largest German banks bv which the latter'will grant the State Bank credit of 75,000.000 German marks, which, combined with trade credit, will enable the purchase in Germany of goods on credit valued at 100,000,000 gold marks. A term or several months is suggested for the - credit. M. Sokolnikov states that the credit; is the first of a series of large credit agreements projected by the State Bank. AUSTRALIAN STATE LOANS. N.S.W. AT DISADVANTAGE. (BT CABLE—PEESS ASSOCIATT#K—COPTRIGHT.) (AUSTRALIAN AND X.Z. CABLE ASSOCIATION.; (Received October 7th, 5.3 p.m.) LONDON, October 6. Owing to the flotation this., week ot three British municipal leans, aggregating £'2,500,000, and another Trustee .Stock issue next woek, the Aurtraliaa Loans have beer, deferred, possibly for a fortnight. It is understood that Mr Lang's withdrawal from the Loan Council, under which the states agree to a rotation of loans, has placed New South Wales at adisadvantage, /loan preference being given the other states. [A London cable mcsßage published yesterday stated that West Australia intends floating a £2,500,000 loan immediately. When the West Australian loan Ts placed within a few davs, the South Australian £l.-500.000. and the Tasmanian £600,000 loans will jointly follow almost immediately, then follows New South Wales for a minimum of £5,000,000 of new money.] f RUSSIAN WHEAT. PEASANTS REFUSE TO SELL. (AUSTRALIA* AVD H.Z. CABLE ASSOCIATION.) (Received October 7th, 8.15 p.m.) LONDON, October 6. The Soviet Government has cancelled charters for- a number of wheat steamers owing to inability to get wheat to Black Sea ports, in consequence of the peasants' refusal to sell. This may, .cause a hardening of prices for Aus"""tralian and other cargoes, but probably not to a great extent, as traders know there is, plenty of wheat in Russia which will be marketed sooner or fatcr. GOLD EXPORT. . ' U-S 3 BANKS' PURCHASES. (bt cablx —pbzsb association—coptright.) . (better's txlxobams.) » (Received October 7th, 9.15 p.m.) NEW YORK, October 6. The first- substantial export movement of > gold from London here, since Britain's return to the gold standard, is under way. Engagements to buy 4.000.000 dollars' worth of British gold aro announced by three MewYork banks, which~ found it profitable to buy the metal 'through London.

WHEAT. , (AUSTRALIAN AND ITZ. CABLE ASSOCIATION.) (Received October 7th, 5.5 p.m.) „. NEW YORK, October 6. Chicago Wheat—December (new) 141 J. cents, .(old) 1401 cents; May (new). 141J cents, (old) 1402 cents per bushel. H».'«.-ii.— """--~"" RUBBER. !■• ■■ . . . . /. . : .(Received October 7th, 8.15 p.m.) LONDON. October 6. . Plantation rubber is quoted at 45Jd per lb. N __ • V . SHAKES. (Received October 7th, 8,15 p.m.) '' LONDON. October 6. Shares—Banks of Australasia £l3 13s 9d, New South-Wales £39 10s, National of Australasia £B, National of New Zealand £6 16s . 10d; New Zealand,'guaranteed stock £92, ordinary 655... 'New Zealand Loan and Mercantile Agency, debentures £79, ordinary £94. LONDON WOOL SALES. (Received October 7th, 8,15 p.m.) LONDON, October 6. ' At the -wool sales There was a good selection of merinos bat a limited supply of crossbreds. Prices were unchanged. The NewZealand oJip Washdyke sold at 26Jd per lb, average Z4d. AUCKLAND MARKETS. • -'- *" — , 1 (•PSCXAL TO "THE PKBSS.") AUCKLAND, October 7.\ ' Potatoes —The local market .is again short of supplies as the Katoa has only 4000 (arks this week, and 500 of these are for eeed, consequently the price has responded mors readily to the advance in the south. The local quotation is £ll per ton ex store. Seed are Belling a little better as'a result of the better weather. New potatoes are slowly, coming in in quantities that make little impression on the price of old. New are selling retail at 3d to 4d per lb. Onions—The price is nominally 32 s Qd per crate, bat very few are obtainable until the Aorangi comes in next week. The newcrop is doing well, the weather having been Tery suitable for bringing it along. • Oat* —The local price has responded to the firmer feeling in the south, and merchant.-; are asking 5s 6d ex store for B grade, but the demand is very quiet. ~ Chaff —The market is firm at 10s per cwt for Australian,' and lis for Blenheim, .with good supplies of both available. * Wheat —Stocks of fowl wheat are not very . heavy, and there may he some difficulty in taking advantage of'the remission "of duty on November Ist. As* the best quality is obtainable from Adelaide and communication with that port is very* uncertain it will be 'well' on toward Christmas before any newwheat is obtainable.' and if old is bought ontaide Adelaide there is always a risk of weevil. The price this week is 9s 3d, but the demand is not very heavy. Maize—The market is firm at 6s Bd.on the wharf in wholesale lines. * PROPERTY SALES. There was a large attendance of the public, and bidding was spirited, at. the sales held by Lohrey and Co., Ltd.. yesterday afternoon. Mr F. Johnston's property, situate No. 73 Salisbury street, was sold to Mrs M. Smith, at £950. Mr h. C. Dennis's property. sitaate Gracefield street, was passed in at £1675, as was Mrs Yager's property. Bishop street, at £1725, and Mrs A. Turton's property. Bishop street, at £1775, these places having failing to reach the reserve placed upon them. Messrs Lohrey and Co., Ltd., report having _gpld privately Mr L. B. Thompson's property, .4141 Hereford street, to Mr C. F. Bennett, ■•"■•' for £1750, and Mr T. Tomlinson'a two eecB| Ut, »» £«3<L