FINANCE AND COMMERCE.

Press, Volume LXIII, Issue 18925, 14 February 1927, Page 10

FINANCE AND COMMERCE.

NEW ZEALAND'S TRADE. SEVERER COMPETITION TO BE FACED. BRITISH TRADE COMMISSIONER'S REPORT. (*T CA«L»— TBIBS ig»OCUTIO*— COPTBtOItT.) UumuuA* ahd m.z. cuatt association.) IX)NDOX, February 11. Mr L. H. Hcale, British Trade Commissioner, Wellington, repoiting to the Board of Tra-Jc on oconomic commercial (ouiiition.s in New Zealand, says tho time seems to have arrived when the Dominion mu»t faco greater competition than hitherto in tho products which have niado her famous and prosjK'rous, and constituted her only subMantial source of revenue. It will require a vigorous application of energy and increased production from worker*, land and stock, to maintain the high standard of life common throughout the Dominion, which has U«n somewhat easily secured in the post. It is- evident the position is fcoing energetically and intelligently runt. An increased volume of production, coupled with a reduction of the costs of living nnd production, arc the essential factors needed to enable Now Zealand to maintain a standard of living in tho face of the lower worldnrices prevailing for u great bulk of her products. Thero are, happily, many evidences r,f tho primary producers' determination to increaso production by more thorough, morn scientific methods, and men to raiso tho quality of her commodities.

Regarding imports, tho share secured by the United Kingdom shows a small but steady yearly decline. This disturbing feature appears attributable partly to.the United Kingdom's omission to pay moro attention to tho changes of style in tho world demand for manufactured goods. There seems littlo <lotibt that American Alms played a part in- moulding the public taste in .many directions. Tlie present general • economic position of the Dominion may bo. correctly doscribed as in a thoroughly found state. Her finances, under shrewd,- capable direction, are showing satisfactory results. , The' banking position has boen wisely'. handled,. : aiid . there- -is- no evidqheeof any exoessive.tiniidi.ty in commercial .circles., Tho-effortetorstipm-' Uto'khd improve production -are bea»> ing fruit, and any- favourable ' movement of price lerels. i-will'Ynot, .; only, maintain, bat enhance, the Dominion's: prosperity. ' Undoubtedly the effect of. a temporary reaction has been l the cause of some sections of the. community taking too jpessimistio a vi&w, but the high credit that theDonfinion-.enjpxs oit tho^Lotfdon' tfiotadymarket'bears evident* of the .favourable regard in which New Zealand is held by most expert dispnssionafte critics., ..

NO RIGHT TO BE HEARD. "V '' u . "' • ?ARriWs And freezing ; ' WORKS DISPUTE. ' (TItSS ASSOCIATION RLEOXAK.) * MASTERTON, February 13. Commenting ou tho statement by tha Associated Freezing-Companies' chairman that tho companies wished to cooperate t wholeheartedly with farmers, tqe Wairarapa' provincial president of the Farmers' Union said: "At a special meeting to consider farmers' representations, held fct Falmerston North on Eoember 28 th, it was felt "that freea- * ing companies had been far from successful in .-their Arbitration Court battles, and MrW.J. Poison was asked to undertake the formers portion of the case.. It may be pointed out that as tnany as three counsel have appeared for, the freeaing workers in the pest. The application tohavd Mr Poison re-, cognised •as junior- counsel baa been persistently refused Wthe chairman of the. associated companies. Having had to'bear the brant of the strike, the farmer* take s.mt interast in the terras 6f peace. It .is the dnfartonate Mt of tne farming community to. bare tol'pw for other peoplefa blunders; otherwise the freeaing companies would bo allowed to cany through in their oww-fashion. , isbo refusal to allow Sir Poison to anpMr as assistant counsel /before tlie( Cfyirt'on behalf , o£,th'e}|'armer« , i Unioi* with alirni by thapi-odncere;. Theowhole Dominion 1b interested in a clia»»itate(nent of tho prodncen' eco&o----nmr motion before mi. onbiaeed Ccmrt. Mr. iPblson'* ability is widely roccc!Pi «?d it-is to be regretted thatf by ♦iw.-doasiot# of the-chairman-of the Fweaing Companies'' Association • the fvnfiHUfi are.'denied direct *nd the right to address the

;; lonbon markets, i • fllacairad PVbnury lath, 8.5 p.ra.J Juto--F«btn#iy:to March-aUpmanta; i» .!Sa * i U.%f n P- i^,cu » r y atfl-Mlrch ahip. aanl, i 37 TOaa.ton. . ... Coprtr-Fabtuaryto March shipment, £26 ft ion,/ • . *• • LinaaM Oil—3s BJd •-'gallon. Turpantfoa—Ha otrt. Froaan light, nona of- ' hriwt;. h<*jy,. «d par lb; North-Wand, mtdium 6jd, heavy fid; Argentina, light 6}d, medium 4Jd, heavy 4{d. Frown Lamb—Canterbnr?, aaconda 6!d per lb; North Island, aaconda Sd; 'Australian, think 6|d; Argentina, aaconda 6jtL Chilled Baal—Fores B}d, hinds 4Jd, otlprs uehangad.

DAIRY PRODUCE. 4. H. Turnbuli aiid Co., aru In receipt of the following, cabled advice from London, price* fdr'fca previous week being mentioned In parenilunes:— Butter: p*nl(li 188s to 192* (188s); N.Z. ■Malted 183 a to 184 a (183 a to . 184s); N.Z. salted m« to 174s (173 a to 1745) ;N.Z. salted stoA4 106s .to 158 s (166s to 168 a). Market Mk steady. Cheese: N.Z. - white 03s to Via (Ma to 94a); N.Z. eolonnd 94* to 95s (Ma, to, Mf). The market is steady. Canadtaachoese.whrte and coloured, '9Bs to 102s on*'* low).* ' ' •n«LA Mtw. cable advise* ttat. the Control . Board have -advanced butter prices 2s.

POULTRY AND EGGS. ' The Canterbury Co-op. Poultry Producers, IM, report that large entries of -poultry ' .aPP* ' orv * r d lor tho markets last week, and h»JSptw»rf remained about the aame as the previ--1 Good quality hens and tabla •" * •*' with • keen demand. Followprices per pair; Table chickens 7*< (heavy) It fid to 18s 6d, to 4«, (hesTy) 5s 6d to 6s Od, gwy WK fa. ducklings. 7a ito: 9s JM, turSHtlißfelW -to. 355. goblars 30s to 455. The tWSBHIW again well supplied with' weekly anetion the following i 'iSEffigES* l *® warn obtained: First grade & ' Id, second grade hen eggs la

CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TK.INSAC I'ION'S. ! S4lfj n .o-.-l N.'»S. Co;i. o i/tr cent, j < U.-J, X*-i s. i -Salt J Mi 'Ci.— tf AdtVi-i<i<\ .'.'J : Ta Cd {t vj p.*.•; New Zojlar.U li;Suio.n f, JCs "3d (r.V'i piju'.e ; Dalgcty and Co.. A'i.3 u*; X.Z. !;or.tr.;, Cs 1J; Ml. Lydi, •Je* >i (two j :\-i o!s). LATEST QUOTATIONS.

VHEAT. (a* cabui—r*a«s ASsociAnowVcprvaio®*-) (tUSTSALIA* AMD *.*. CA»L» AMOCUTIO*.) fftiuulTid' TetTiMT 18th, "5.5" p.m.) (Received MBW .xobk, February "• rhlecao* Wheat quotation* ar»:"Mayi*i. .JSSTSim"«&■;«<»;- ml * PAT STOCK PRICES. Tho Now Zetland Meat Producers* Board advise* that tho followlngprites *««^'°| ' iHh--P°o r v«tV "B. C 7 : U™ 88* nd unfcrW Vt0,421b aid «lb and over Bid. locond quality Utnbs 6»d, Hawicr * Bay: Prime woolly lamb*, -86 *ndonderßi. 97 to 421b 71d. 43 .and over 6|d, second quality lamb. 71d., Wellington: * ri ® # *° O . U / lamb*, 86 »nd under Bid, 37 to 421b 7jd, 48 and over 6Jd. second quality lamb* 7R prime wether*. ,56 antt under 51d, 57 <o 641b 4ld, 65 to 731b 4}d, ewe* 56 and under Sid, 57 to 641b M: Canterbury : wo _°" y lambs 36 and'under B|d, 37 to 4.1b 7|d, 43. over 61d, iecond qu»hty lamb* 7ja. ! PROPERTY SALE.

Jonm, McCroatie Company, Ltd., report having sold in their Land Sale 509 ms on Saturday, on aceonnt of Mr and lftrs T. W. McCletla'ndi the property situate No. :304 Papanui road, overlooking St. Andrews College, comprising two-storey bungalow of seven rooms, together with 33 2-10 th. perches of land, to a client, for £2175.SMITHFJELD PRICES. The New Zealand Meat Producers' Board has received the following eable from its London office, dated February Hth advising Smlthfleld delivered prices at that date as follows, (Prices for the two previous weeks are also shown): — per lb Feb. Feb. Jan. 11. 4. 28. d. d. d.

N.Z. Wethers and Maidens— Canterbury quality, selected brands: 66 and under (old season) 6| 6| Old season 57-64 Old season 65-72 .. 51 6 6J Other brands— New season's 56/nnder .. 6s 6y New season's 57-64 " .. 6| 6| 6J New season 65-72 .. 6- 61 6i N.Z. Ewes— . ... Old season 64/ under, 4 4 «s N.Z. Lamba — * Canterbury quality: Old season 86/ under •• 10 #lO 10 Old season 87-42 .. 8}- 8| 8) Old season 43-50 .. 7} "1 7} Old season seconds - .. 6J- 7 7 Other Brands — First quality: New season 42/ under .. 10i 101 101 New teason seconds .. 9 91 01 N.Z. Beef Ox fores .. .. ,31 31 8J Ox hinds v .. i.''4 4 4 Argentine Chilled Beefr-' Ox (ores .. 34 4 31 Ox hinds ..4) 5} 4) Argentine Frozen Beef— Ox fore* • • .. 81 31 31 Ox hinds .. ~444 Frozen Pork—--80 1301b ..888 120-180lb .. .. 7| 71 7| Lamb—The market keeps firm. There are limited supplies and a' good demand. Mutton—'Wethera are in short supply at nominal prices. The ewe market is steady ; ana unchanged. Beef—The market I# depressed owing to ' heavy arrivals Iroo the Afgwtine,

ngovt. per cc-ui. lr.sL.-. IOJS •ij t cr ccr.t. iMo ■! l . per cent. 3,ml-, I.MS 1- i>"r cent. B r.d-i, liuyer-i. j, 3 0 'J~ 0 0 :g io o Sv-lle.: £ A. oc \ j OT 15 0G 17 3. U. 0 0 c 3 p<v cent. 19.27 5 per cent. In. j cKI>rd, I9ii> S per cent. Bunds, 19-27 51 per rent. Inscribed, 19 27-11 per cent. Inscribed, mi 5J per cent. Inscribed, 19.1G OTHER DEBENTURESCbristchiircli Drainage, 5 J per cent., 193S73 Cliristciiurch Tranis, 3J per cent., 1011 Booth, Macdonald. CJ per cent., 1932 BA.N'KSAddaidp Australasia Comm. of A list. Comm. ot Sydney (right*) E., S., and A. National of Australasia (£10 [.aid) National of Australasia (£3 paid) .. National of N.Z. New South Wales (cum div.) Now Zealand .. New Zealand (Mortgage Shares) Royal (£1 paid) Iioyal (it paid) Victoria (ord.) ■ • Victoria (pref.) .. "WcBtorn Australian .. INSURANCE— Mercantile Mutual National New. Zealand .. Queensland South Britiaji LOAN AND AGENCY— Dalgety and- Co. Coldsbrougb, Slort Pormanont Investment SHIPPING— .' Howard, £}m'ith Huddart-Parker HnddarUParker (pref.) ■ Union (i>rttf.) . FROZEN; MEAT- ■ Canterbury . ;N.Z. Refrig. (£1 paid) N.Z. Refrif. (contr.) WOpLLENSKaiapoi (7« p«idl «•. Kaiapoi (pref.) • COAL"Weelport , »* Stookton (prof.) , ... GAS— Auckland •' — • w< . Chriatchorch . A«. Titnoru <i* BREWERIES— ; Manning m Montcitha .. •• New Zealand >** • »• Staple*' •» —< CEMENTS- . Witaon'# J •• • •« MISCELLANEOUS 1 — Beath and Co. British Tobacoo. ... Colonial "Sugar D.I.C. (pref.) • Dunlop Rttbber ; Electro. Zi«c. (otd. cum div.) .. Electro. Zinc (pref. cum . div.) . •• ' - Glenmoro Brick and V. Tile (cum' dir.) •• Henry Jone* Co-op. .'. u» ped) Mercantile Finance Corporation (£1 P''d) .. Mercantile Finance Cor- ~ poration (5s raid) N.Z. Drug Co. N.Z. Co-op. (65 per cent. Stock, IDS") .. •• N.Z. Farmers' Co-op. (64 .per cent. Stock, ' .-v. «•>••• N.Z. Farmer*' Fertiliser "N.Z. Guarantee Corpn. United Picture# .. Whitcombe and Totnbg MININGKawarau «• Vt. Lvell ■" ■J:» 0 0 99 10 0 rw io o no 3 n to io o 97 U 0 — 100 17 G — 100 17 G 101 2 6 — 97 5 0 OS C 0 100 0 0 75 0 0 9 7 6 9 8 6 — 14 12 6 1 10 7 1 11 0 12 1 6 1! 3 6 8 4 G 8 10 0 18 1 6 — 9 2 6 9 5 6 7 1 0 7 2 6 48 15 0 49 10 0 3 U 0 3 0 2 0 11 10 0 12 0 1 18 6 1 19 3 7 10 0 7 13 0 9 15 0 10 0 0 20 10 0 ' 2 18 4 2 18 8 16 0 — 3 13 9 3 14 1 1 16 7 1 16 10 2 56 6 — 2 15 9 2 16 3 15 9 0 15 11 6 2 10 8 2 11 0 10 0 0 10 15 0 1 11 9 1 13 3 2 7 6 3 7 9 10 9 12 0 ■ 1 0, 1. 1 0 5 7 10 0 ' 8 10 0 0 13 0 0 14 0 0 6 0 0 6 3 0 3 0 0 4 0 — ;.0 15 6 — ' 1 16 0 0 3 0 — 13 0 _ 15 0 6 IT 6 — 0 19 10 10 3 116 12 6 " 2 11 0 3 11 9 — 1 17 9 1 15 6 1 16 1 1 U 6 1 12 3 2 13 10 2 13 3 57 10 0 — .10 9 — — 1 13 6 1 16 3 — 1 17 0 1 17 6 18 0 1 11 6 2 7 9 3 9 0 0 17 0 0 19 6 0 10.0 — — 0 19 6 0 1 0 0 4 8 3 7- :0 >3 10 0 76 0 -0 — 75 0 <T76 0 0 _ * 10 0 O 10 3 0 10 5 2 0 0 8 13 8 0 36 3 8 18 8-4 810