FINANCE AND COMMERCE.

Press, Volume LXIV, Issue 19213, 20 January 1928, Page 10

FINANCE AND COMMERCE.

IMPORTS AND EXPORTS

THE YEAR'S FIGURES. (rEESS ASSOCIATION TELEGBAJt.) WELLINGTON, January 19. The Dominion trade returns for the twelve months ended December 3lst, 1927, show a favourable balance ot £3,713,000, and the trade position to be much healthier than it was twelve months ago, when there was an adverse balance of nearly £4,014,000. Last year there was a big falling■ oS in imports to the extent of £0,106,01/, and a very satisfactory increase or £3 ">2O 779 in value of exports compared'"with 1926, which represents an improvement of £8.327,396 in the trading position of the Dominion. The detailed figures afford the following comparison:— 1927 1926 £ £ Exports ... 48,496,354 45,275,5/5 ImK I.! 44;782:94G 49,889,563 Excess exports 3,713,408 The trade improvement is also clcarIv reflected in the figures'for December. Last.month there was an excess of exports amounting to £1,449,286, compared with an excess of imports of well over three-quarters of a million, sterling for December, 1926. The Talue of exports last month was up by £1,766.786, and imports were lower by £438.898, compared with December, 1926. Figures are as follows : Dec, 1927. Dec., 1926. £ £ Exports ... 5,398,484 3,631,698 Imports ... 3,949,198 4,388,096 Excess Exports 1,449,286 Excess Imports 756,39* The Dominion curbed its expenditure as represented by imports to the extent of over £5,000,000, and received for exported goods nearly three and a quarter millions sterling more than in 1926.

ROYAL SHOW.

MEETING OP SOCIETY. ITie question as to whether the Royal Agricultural and Pastoral Show should be held as at present in conjunction with provincial shows in spring, or separately in autumn, was considered nt a meeting of the Royal Show Society at Wellington thi& After considerable discussion, a; Bpecial committee was set up to enquire into. f the •advisability of (1) holding future, Royai A : Shows; alternately in Palmerston Norijj ■> and; Christchurch, and (2) of; holding the Shows in autumn. , "' '.'.■■

The members of the, committee will; attend the next meeting .of,< the. Canterbury A... ? P. Association to'discuss tna proposals, and will, aho confer with the Manawatu A. and'P. Association regarding the same matters.

BRITISH COLUMBIA'S FRUJT

THE AUSTRALIAN MARKET. (BI CABM—PMSS iSSOCUTlOX—cobtrnjht.) (AUBTBALIAK AND X.Z. CABLI ABSOCIATIOK.) VANCOUVER, January 18. At the British Columbia Fruitgrowers' Convention at Kelowna, Mr J. H. McDonald, who recently visited Ausiralia, said that with British Columbia orchards freed from fireblight, the Australian embargo on apples would be lifted. He advocated assisting Ejnpire trade by buying Australian apples during April, May, and June, instead of United States fruit. He urged sending a trade representaffive - : . to Australia to advertise British Columbia fruit.

SOUTH AUSTRALIAN LOAN.

LONDON, January 18. South Australia, with the co-opera-tion of the Commonwealth, is issuing a loan for £1,500,000.

WHALE OIL AND GUANO.

CONCESSIONS TO NORWEGIAN COMPANY.

(BBITISH OMICIAI. r WIBBLESS.)

RUGBY, January 18

The Colonial Secretary announces that Jolian- Rasmussen and Company, of Sandefjord, Norway, are beingi granted an exclusive license to occupy: certain islands belonging to -his Majesty, named Bouvet Island and Thompson Island. ■'* - ' :

The islands in question are uninhabited, arid situated' in the South Atlantic Ocean, in rav about latitude 5i degrees 26 minutes south, longi-' tude three degrees four minutes east. 1 . The license permits the company to take and. treat whales in the, territorial waters of the islands, and re-' move guano, subject, inter alia, to the: payment of a yearly rent for the islands and royalties on the whale oil' and guano exported. The license" is: for a-term of 10. years. . AUCKLAND HARBOUR LOAN.

'/.:- [THE MESS Special Service.] WELLINGTON, January 19. Loans authorised by the Local Bodies' Loans Board include one for the Auckland Harbour Board of £1,000,000.

LONDON WOOL SALES.

NEW ZEALAND LOTS. (BT CABLE—PMBS ASSOCIATION—COPTBIGHT.) (AUSTBALUR AND H.Z CABLB ASSOCIATION.) LONDON, January 18. At the wool sales 8917 bales were offered, •7144 being Australian and 7120 New Zealand. There was a splendid selection of merinos, principally of Continental descriptions. Opening rates for all classes were fully confirmed, with keen competition. The New Zealand Ngapapa clip realised ,25d and 24d.

TALLOW.

LONDON, January 18. At the tallow sales 1150 casks were offered, tut only 144 sold.

Messrs-A. H. Turnbull and Co.-.have received the.following cabled advice from London: —"The' tallow.! .market is unchanged. At the tallowauctions to-day 1200 casks were offered, of which 150 casks were sold. The market is quiet, .and the tendency easier." -.Dalgety and Company have received the following cabled advice from London:—"At . the : weekly tallow auction 1150 casks were offered and 13 per cent. sold. Prices are \ nominally. unchanged." I The Bank of" New Zealand has received the following advice from its London office, dated January 18th:'—Tallow—There is a r peer'demand. Current quotations are:— •'- Good, mutton 140s to 40s '6d per cwt, good beef-39s to 89b 6d per cwt, good mixed 39s Bd.to 39a 6d per cwt, gut 34s 6d to 36s ...Sd per cWU" '

DAIRY PRODUCE.

APPEAL FOR PROTECTION IN CANADA. (liT CA3LB—P3IS3 ASSOC7ATIOX—COPTBIGHT.I (ACSIRAI.IAH AXD H.Z CABLB ASSOCIATION.) OTTAWA, January IS. The annual convention of the Canadian Produce Association at Montreal passed a resolution asking the Government to adjust the tariff on dairy produce to afford protection to producers who were finding increasing difficulty in competing with imports from the Southern Hemisphere. Mr Edward hallman, Toronto, said that the tariff permitted the importation of cheap butter. He made special reference to die Trade Agreement witn Australia and claimed that butter came into Canada from Australia selling at a price that was sometimes lower then that of home produce.

N.Z. SHIPMENTS.

The New Zealand Dairy Produce Board supplies the following information regarding shipments of butter and cheese from the Dominion:— UNITED KINGDOM CONSIGNMENTS. Total shipments to tho United Kingdom only, by steamers cleared finally from New Zealand between August Ist and December 31st, 1927, were: —

Of. the shipments to .Vancouver and Halifax,; probably the greater part was sold before was made. " • ■'' CANADIAN SHIPMENTS. Canada —Shipments from Canada to all countries'-(excluding U.S.A.) for what is practically > the Canadian season, viz., Kay Ist to November 26th, 1927, were:— : 1927. 1926. Butter (packages) .. , 7,023 114,860 Cheese (boxes) .. 980,497 1,156,079 I Argentine—Shipments of butter from Argentine from August Ist to December 31st, 1927, were:— 1927. 1926. !; ' .300,000 boxes.' 457,000 boxes ■■ Australia—Shipments from Australia from August Ist to December 31st, 1927, were:— ~..-. 1927. 1926. Butter (boxes) .. 498,200 526,280 Cheese (in tons) .. 902 387 BRITISH IMPORTS. Imports into Great Britain from all sources .were (in cwts):—- ■ BUTTER. 1927. 1926. November .. 400,883 - 396,958 December _ .. 445,464 450,126 Twelve months end-

ing December 5,826,865 5,'818,840 CHEESE. . 1927. - 1926. November ..: 277,665 238,893 December .. 199,597 206,035 Twelve months ending December 2,949,148 3,014,055 Stocks of cheese on hand.on January 2nd, .1928, at' London, Liverpool, and Bristol, were estimated at:— 1927. 1926. Canadian (boxes) .. 111,500 133,600 N.Z. and Aust. (crates) 54,300 38,350 165,800 171,950 .. ' ■-.: LONDON PRICES. London priceß have been for December, 1027: Butter—--1927. 1926. 166s to 172s ta,t beginning 160s to 166s 156s to 160s at middle 170s to 172s 162s to 164s at end 172s to 174s Cheese — 98s to 100s at beginning 84s to 85s 91s to - 93s at middle 95s to 96s 91s ,to 94s at end 95s to 96s The New Zealand Loan and Mercantile Agency has received the following cabled advice from London:—"New Zealand dairy produce—New Zealand butter, choicest 154s to 1565. The: market is weak. Cheese, 90s to 91s. The market is quiet."

HAWARDEN STOCK SALE.

■ At the fortnightly Hawarden sale yesterday there was an entry of 1253 sheep, the bulk of the.entry being fat lambs. The sale was an exceptionally good one, the prices being .well.up to, schedule rates. The fat lambs were in excellent condition, and 'the whole of -the entry sold at satisfactory rates, the-rangeof prices-being for: —Extra prime lambs 30s 9d :to ,31s; 4d; prime 28s lid to 30s, medium.fats.,27s 6d to 28s 7d; good fat wethers made up to 25s lid, and fat ewes 175.7 d.

The .following'sales were made: — Pat Lambs —Cowie and White, 35 at 28s 4d, 10 at 29s.Sd; F. Pole, 13 at 30s Id; —. Stubberfield, 36 at 29s 8d; Jervis Wright. 28 at 27s 6d; E. Chambers, 45s at 28s lid; J. Doak,24 at 295, 20 at 29s 7d; E. Shinnington, 45 at 28s lid; F. Holder, 29 at 31s 4d; Jsb. Bentley, 17 at 29s 3d; J. Dalziell, 86' at 29s'8d, 25 at 27s lOd; P. Butler, 102 at 28s lid; A. Cowie, 27 at 29s 2d,~ 3 at 28s-7d;; P. Leclcie, 51 at 28s 9d; B. Hoban, 78 at 29s 6d, 45 at 295, 33 at 33s Id; W. Crane, 4 at 33s Id; J. W. Wright, 42 at 29s 4d; H. D Burt, 56 at 29s lid; H. Mathews, 18 at 31s 2d, 45 at 31s 3d; T. Hassell 35 at 29s 8d; W. Pearce, 8 at 27s lOd; W. CBlake, 73 at 30s 9d; L. Boon, 23 at 29s 7d. Wethers—F. Pole, 12 at 25s lid; T. Hassell, 24 at 25s lOd; J. Croft, 29 ewes at 17s 7d. , . Stores were a small entry, and in poor demand; 25 two-tooth store wethers made 225; 50 rape lambs 23s 7d; and 40 m.s. lambs 19s 9d.

STOCK SALE. There was a largo attendance at the Ger aldine stock sale on Wednesday. The yard' ing was moderate. Fnt lambs were offered in good condition. The following were among the prices:— Fat Lambs—3 at 28s 3d, 7 at 26s 6d. 24 at 28s 4d, 13 at 25s lOd, 14 at 265, 12 at 25s lid, 21 at 27s sd, 23 at 275, 12 at 28s, 31 at 27s Id," 23 at 27s lOd. 33 at 28s Id, 26 at 23s lOd. G4 at 28s 2d, 57 at 27s lOd, 41 at 28s, 34 at 26s Bd, 33 at 27s 2d. 103 at 27s lOd. 58 at 25s 9d, 25 at 27s lid, 11 at 24s 9d, 2 at 28s, 25 at 25s Id, 5 at 25s 9d, 2 at 23s 9d. Stores —3 ewes at 225, 8 at 225, 11 at 12s 9d, 1 wether at 295.

GOLD. LONDON, January 18, Gold is quoted at £4 4s lid an ounce.

WHEAT: NEW VORK, January 18. Chicago wheat quotations 'are: —March, 129} cents a bushel; May, 130} cents; July, 126J cents.

Concerns merchandising products of w ood quality can develop the unparalleled sales opportunities in Canterbury most effectively and most economically through the advertising columns of The Phess. —U

LONDON MARKETS

REPORTS AND PRICES. ! LOAN AND MERCANTILE CO. (FROM Oua OVTJI COHP.ESPOXDZST.) LONDON, December 14. The New Zealand Loan and Mercantile Agency Company report as follows: Wool. The 6th series of London sales, for which 110,700 bales Australian and New Zealand were declared available for offering, commenced on November 22nd. There was a large attendance of Home and Continental buyers, and competition, both for merino and crossbred, was general and animated, whilst, as compared with September auctions' closing rates, values for the former ruled par to 5 per cent., and for the latter 11 per cent, to 10 per cent, higher. In merino, the improvement is most marked on combing descriptions of average quality and strong haired wools of 60's grade, the finest sorts, both greasy and scoured, showing little change. Greasy crossbred meets a strong Continental demand, fine grades ruling fully 10 per cent, dearer. Slipes,_ under the stimulus of keen Home and Continental, bidding, have shown a hardening tendency, particularly for lambs, greasy descriptions of' the last-named, also, selling particularly well. For the auctions in sheepskins, which w'ill be held on the 15th of this month, 2950 bales Australasian and 100 bales Punta Arenas have been declared.

Tallow. Since the Company's last advice, four public auctions have been held, and at these 2910 casks were offered, and 663 casks were sold. The market unexpectedly became quiet at the commencement of last month, and as information has just come to hand that North American has fallen £3 per ton, the market, in' sympathy, closes very dull, with fine mutton, which is scarce, 10s up, and most other sorts about £1 per ton down. The shipments from Australia and New Zealand during October were cabled as 2338 tons against 2600 tons for the same months last year. The Loudon stock on November 30th, was returned as 10,418 casks, being a reduction of 3041 casks on the month. Very little business has been possible in tallow for shipment, as holders are asking prices which buyers here are not prepared to pay. Some good gut has been sold at 355, and "No Colour," mixed at the same price, whilst there are buyers of "Good Colour" mixed at 38s 6d per cwt. c.i.f. ■ Prices quoted on tho "spot" are:—Fine mutton, 39s 6d to 40s per cwt; fair to good mutton, 37s to 395; fine beef, 42s to 445;, fair to good beef, 36s 6d to 395; good mixed, up to 38s 6d; gut, etc., tallow, 33s to 365. There has been a fair amount of business passing in rabbitskins since tho auctions on November 16th and 17th, and values have been maintained. The company looks for a firm market for some little time, at' any rate. The market for New Zealand pickled pelts, both here and in America, has been quiet during the past month, and there is very little change to report. Stocks are small, but move very slowly, as manufacturers appear to be satisfying their requirements from the Homo supply in the meantime. The outlook is somewhat uncertain, but the recent reported advance in calf may affect sheep leather later on. Quotations are:— , North Island Freezers. —Extra heavy sheep, 60s to 64s per dozen, "ex warehouse, London;" super heavy sheep, 54s to 58s; Ist heavy sheep, 48s to 525; 2nd heavy sheep, 42s to 48s; super light sheep, 48s to 525; Ist light sheep, 38s to 40s; 2nd light sheep, 30s to 345. South Island Freezers.—Super sheep, 42s to 46s per dozen, ex warehouse, London; Ist sheep, 34s to 365; 2nd sheep, 32s to 345. North and South Island Freezers. —Extra lambs, 33s to Sss per dozen, ex warehouse,' London; super lambs, 29s to 32b; Ist lambs,' 26s to 28s; 2nd lambs, 23s to 255. New Zealand Fellmongers. —Extra heavy Ist sheep, 54s to 58s per dozen, ex warehouse,' London; heavy Ist sheep, 44s to 50s; heavy 2nd sheep, 34s to 38s; light Ist sheep, 28s to 30s; light 2nd sheep, 24s to 28s; 3rd sheep, 12s to 18s; rejects, 6s to 9s; large Ist lambs, 26s to 30s; Ist lambs, 20s to 245; 2nd lambs, 16s to 20s.

Hides. There is a certain amount o£ business doing, and prices have further advanced Id to Id per lb, but first-hand offers are difficult to obtain. Quotations are:—New South AVales Wet Salted Meatworks, 50-601b, lljd to lljld lb, c.i.f.; New South Wales Dry Salted Meatworks, 30-401b, Is 3Jd to Is 4d lb, c.i.f. J New South Wales Dry Salted Eirsts, 30-401b, Is 3d lb, c.i.f.; Queensland Dry Salted Meatworks, 30-40 Ib, Is 3Jd to Is 38d lb, .c.i.f.; New Zealand Freezer, Cows, Wet Salted, 35501b, 12Jd to 12id lb, c.i.f.; Now Zealand Abattoirs Cows, Wet Salted, 501b up lljd to 12d lb, o.i.f.

New Zealand Hemp. Prices remain about the same; but there is a little more business passing.. The company quote:—Good fair, £36 per ton DecemberJanuary shipment, c.i.f.; high point fain £3i 15s do., do.; fair, £32 15s, do., do.

Seeds. The market for New Zealand cowgrass remains in a very dull state, as buyers are satisfying their requirements from lower quality Continental seed/ which is cheaper. Quotations . are: —New Zealand, nominally, 120s to 125s per cwt, c.i.f. The: company have not heard of any sales of New Zealand white clover. Choice Continental is quoted at 110s to 115s per cwt, ex store. Since the last report the cocksfoot market is rather easier, as some holders have been forced to realise, with the result that prices have declined. New crop Danish 92s per cwt, ex store here, or 102s per cwt, c.i.f., New Zealand main ports. ... .Little business is passing in perennial ryegrass, and pricM are barely steady. Quotations, for good Irish new crop are 261b seed at 80s per cwt ex store. Crested Dogstail.—rlrish seed is being freely offered, and although the colour is dart, the germination is satisfactory, and buyers are turning their attention to this souce of supply, as it is cheaper thrra New Zealand. Nominal value of New Zealand, purity 99 per cent, and germination 90 per cent, and over, 135s per cwt, c.i.f. Frozen Babbits.

■With Home supplies on an increased scale, the demand for frozen rabbits has ruled quiet, but previous prices are about maintained. Australian large, 83s to 35s per crate; Australian seconds, 29s to 31s; Australian young, 26s to 295. A better enquiry for canned moats has prevailed for most descriptions, and values generally mark an advance. Quotations are:— Corned mutton, 36s to 38s per case, ex wharf London; corned beef, 30s to 37s 6d per case, ex wharf London; boiled beef 35s to 38s per case, ex wharf London; boiled mutton, 36s to 42s per case, ex wharf London; ox tongues (N.Z.), 130s to 160s per doaen.

Frozen Meat. Since tho Company's last report, supplies of Home-killed meat of all descriptions have continued heavy. Chilled beef, during the first fortnight, ruled, at lower rates, but later, with reduced offerings, prices advanced to 7£d and 4Jd for hinds and fores respectively, but to-day there was. a sharp decline.

. Frozen beef has met but a limited enquiry, and at the close prices are more or less nominal. Frozen mutton and lamb had, throughout, met a dragging sale, and whilst the best descriptions of the latter show but little change, low prices have to be accepted in order to effect sales of the poor quality Australians, which are pitched daily at a number of stalls in Smithfield Market. Canterbury sheep, sid to 63d per lb; North Island sheep, s&d to 6£d; ewes, 4Jd to sd; River Plate sheep, 43d to 6d; Australian sheep, 4Jd to 4id; Canterbury lamb, BJd to 9Jd; North Island lamb, Bid to 9Jd; River Plate lamb, 7Jd to 9£d; Australian lamb 6d to 9d; River Plate chilled beef, hds, 5Jd to 6Jd per lb; River Plate chilled beef, frs, 4d to 4|d; River Plate frozen beef, hds, 5£ d to 53d; River Plate frozen beef, frs, 33d to 4d; Australian beef, hinds, 4Jd to sd; Australian beef, crops, 3Jd to 3Jd; New Zealand beef, hinds, 4Jd to sd; New Zealand beef, fores, 3Jd to 33d.

Butter. The improvement in demand reported a fortnight ago continued, and prices advanced 4s per cwt. on New Zealand and Australian. Colder weather assisted the firmness of the market, as European supplies showed .a shrinkage. The unfortunate damage to some 30,000 boxes of the cargo brought per Port Caroline from New Zealand, reported to be caused by water from a burst pipe, had also a hardening effect on values. Danish rose sharply in price owing to weather conditions and_ increasing demand from Continental countries. At the close, however, a general quietude has supervened, buyers operating very cautiously in view of plentiful supplies afloat from New Zealand, and a rapid increase in the make in Australia. Current quotations are: —New Zealand finest, 176s to 178s; Australian choicest, 172s to 1765; Danish, 206s to 208s; Argentine nnsalted, 158s to 1725; Siberian, 156s to 160s. A better trade in cheese has been experienced, resulting in an advance in values for New Zealand, and at the close the market is firm. Australian supplies have been practically cleared. New Zealand, white and coloured, 101s to'lo3s; Australian (nominal), 05s to 9Ss; Canadian, 98s to 102s.

CALCUTTA TEA SALES. (bi cable—pbess associates—copxbight.) (at/stkaliax and k.k cablb association.) CALCUTTA. January 18. At the tea sales the average prices were: — Common Pekoe Souchong, 12 annas to 12 annas 6 pies; clear common broken Pekoe Souchong, 12 annas 3 pies; even black leaf Pekoe, 14 annas 6 pies to 14 annas 9 pies. Well-made leaf teas sold at steady rates, while a few useful autumnals met good competition and sold at satisfactory prices. Stalky Pekoes and plain medium descriptions met the fairest ■ demand, and prices tended in buyers' favour by. 3 pies. per. lb. Dusts advanced 1 anna per lb. under keen bidding from the Hankow trade.

CHRISTCHURCH STOCK EXCHANGE. Business was quiet on 'Changa yesterday and it was in only a few stocks that quotations resulted in sales. The tone of the market was good and movements in favour of holders. In the stock and bond section, buyers v;«c much in evidence, sellers appearing only in the o'i per cent, stock 1933 at £ 101 7a Bd, buyers at £lOl ss. Buyers' quotations for other loans show no change on those ruling for some days past. Ashburton Electric Power 6J per cent, debentures due 1933 were wanted at £9B 10s, sellers at £99. Buyers entered the list at £9B 5s for Christchurch Trams 5£ per cent. 1914, but. sellers were firm at £99 15s.

. In the banking section, several stocks had improved demand. Bank of Adelaide were wanted at £8 ISs 6d, sellers asking £9 ss. Australian Bank of Commerce buyers bid 33s 2d, sellers at 33s sd. Buyers offered £26 10p for Commercial Bank of Sydney,, which show recovery, sellers asking £26 lis. A total of 175 National Bank of New Zealand chauged hands on the afternoon call at £6 lEs. For Bank of New South Wales, buyers advanced their offers at £4O 17s 6d, sellers remaining firm at £47 ss. The fully paid new shares in this bank were available at £46 10s, no buyers. In the miscellaneous investment section, South British Insurance were stronger on buyers' bids of 575, sellers 57s 6d, and Standards also with offers of 01e Gd, sellers at 63s 6d A parcel of Dalgety and Co. shares sold' at £l3 10s and more were wanted at that price, sellers asking £l3 15s. Several parcels of Goldsbrough Morts were released at 475, sellers staying in at that figure, but there were no buyers. New Zealand Loan and Mercantile oidinary stock had demand at £93 15s, sellers responding at £9B. A closer market prevailed for New Zealand Refrigerating shares, which were quoted 17s 7d buyers, 17s lid sellers for the fully paids and buyers 8s 7d, sellers 8b 8d for the partly paids. Buyers of Burns, Philps appeared on tho market at 40s, but sellers were reticent. Victoria Nyanza Sugar shares wore fractionally stronger on closing quotes, buyers 543, sellers 555. Sellers of Quill, Morris were offering at 21s Sd, buyers at 21s Mt. Lyells show marked ' improvement, with buyers at 2Ss 6d, sellers at 28s 9d.

YESTERDAY'S TRANSACTIONS.

Sales on 'Change—National Bank of.Now Zealand, £6 16s (5 parcels); Gold3brough, Mort, 47s (4 oajcels). Sale 3 Reported—Dalgety and Co., £l3 10s.

OTHER EXCHANGES.

(PEES 3 ASSOCIATION TELEGBAMS.) AUCKLAND, January 19. Sales —Inscribed Stock (1938), 4J per cent., £97; Bank of Now Zealand D preference (15s paid), 21s 9d; Auckland Gas, 23s 3d; Auckland Gas (contributing), 17s; Northern Steamship, 14s 9d, 14s 9d; P. and O. Deferred Stock (rights), £25; British Tobacco, £2; Waihi, lis 3d, lis 2d. . WELLINGTON, January 19. Sales reported:—Goldsbrough, Jlort ond Co. (two parcels), 475. DUNEDIN, January 19. Sales reported:—National Bank, £6 13s 6d (two parcels); Broken Hill South, 465.

AUSTRALIAN MARKETS. (BI CABLE—PBISS ASSOCIATION—COPIBIGHT.) (ACSTBiLUH AND «.Z CABLB ASSOCIATIOIT.) (Received January 19th, 8.50 p.m.) SYDNEY, January 19. Wheat —At country stations 4s 9d to 4s 93d a bushel, ex truck Sydney 5s sd. Flour —Export trade is at a standstill. Local £l3 5s a ton. Bran—£6 10a a ton. Pollard —£7 10s a ton. Oats—Tasmanian Algerian 5s 3d a bushel, white 4s 9d. . - Maize—is a bushel. Potatoes—Local, new £2 to £5 a ton, Tasmanian £2 to £6. Onions—Victorian £9 10s a ton. ADELAIDE, January 19. . Wheat—Growers' lots 5s 2d to 5s 3d a bushel. .Flour —Bakers' lots £13.10s a ton. Bran—£6 10s a ton. Pollard —£7 2s 6d a ton. Oats—3s 7d to Gs 9d.a bushel.

Butter (in boxes) — 1927. London .. 97.0,114 1920. 860,778 West Coast U.K. .. 03,784 53,430 Total U.K. .. 1,039,898 914,208 Cheese (in crates) — London • < 281,871 272,575 West Coast U.K. .. 34,498 18,783 Total U.K. .. 316,369 291,358 OTHER PORTS. The following quantities have been . shipped to ports other than the United Kingdom, over the same period:— IS 127. Butter. Cheese. Canada — Vancouver .. 69,084 217 Halifax and interior pts. 124,115 . —- New York, option London 17,139 — Panama ...■ .. 3,000 — Honolulu .. ... 7,202 .— Australia .. .. 68,914 2,781 Other countries .. 4,845 263 Grand totals, all ports 1,334,197 319,630 loos Butter. Cheese. Canada — Vancouver .. .. 22,500 — Halifax and interior pts. 5,684 — New York, option London 10,631 — Panama .. .. 4,000 — Honolulu .. .. 3,213 — Australia .. .. 20,243 1,546 Other countries .. 1,163 88 Grand totals, all.ports.. 981,662 292,992 Increase? over 1926': Butter 35.9 per cent; cheese,' 9:09iper cent. ■ SALES. Of the shipments to the United Kingdom, the proportion sold f.o.b. or consigned (at time of'shipment) was:— Sold f.o.b. . Consigned. Butter • .. ., 9.63' p.c. 90.37 p.c. Cheese .. \ 49.38' p.c. 50.62 p.c.

LATEST QUOTATIONS. Buyer s. Seller B. £ s.d. £ s.d. N.Z. GOVT. DEBENTURES4* per cent. Inscribed, 1938 and 1939 96 13 0 — 4J per cent. Bonds, 1930 9S 0 0 — 4£ per cent. Bonds, 1938 and 1939 .. 96 15 0 — 5J per cent. Inscribed, 1911 .. .. 98 15 0 .— 5 per cent. Inscribed, 1933 .. . : 101 5 0 101 7 6 SJ per cent. Inscribed and Bonds, 1936 .. 101 5 0 — OTHER DEBENTURESCbristchurch Trams, 6J per cent., 1944 93 5 0 99 15 0 Ashburton Electric Power 5& per cent., 1933 98 10 0 99 0 0 N.Z. Breweries, Bonds 1 2 6 1 3 0 Golden Bay Cement, "A," 7 per cent., 1931 0 15 0 — BANKS— Adelaide 8 18 6 9 5 0 Aust. of Commerce .. 1 13 •2 1 13 5 Australasia 14 11 0 14 13 0 Coinm. of Aust. — 1 9 4 Comm. of Sydney 26 10 0 26 14 0 E., S., and A. 7 12 0 7 13 0 National of Australasia. (£10 paid) 17 1 0 17 4 6 National of Australasia (£5 paid) .. 8 10 0 8 10 6 National of N.Z.. ... 6 16 0 C 16 6 New South Wales .. 46 17 6 47: 5 0 New Zealand 2 19 2' 2 19 3 New • Zealand Mortgage Shares (15s paid) .. 1 1 0 — Union of Aust. (cum div.) 14 12 0 14 14 0 New South Wales (new) — 46 10 .0 INSURANCEMercantile Mutual — 17 6 National 0 15 0 0 15 5 NSV Zealand (cum divt) 2 1 3 2 1 7 Queensland ■2 17 0 — South'. British .2 17 0 2 17 6 Standard • • 3 1 6 3 S 6 United — 10 15 0 LOAN AND AGENCrDalgety and Co. 13 10 .0 13 15 0 GoldBbrough, Mort -. 2 611. 2 7 0 National Mortgage 3 11 9 . — N.Z. Loan and Mercantile (ord. stock) 93 15 0 9S 0 0 SHIPPING— Devonport Ferry — 1 5 0 Huddart-Parker 2 8 .6 2 11 0 Hudart-Parker (pref.) 1 0 10 — Union (pref.) .1 0 0 1 0 1 P. and 0. Deferred Stock (rights) 35 10 0 30 0 0 FROZEN MEAT— N.Z. Refrig. i£l paid cum div.) . 0 17 7 0 17 11 N.Z. Refrig. (conlr., ■cum div.) • .. . 0 8 7 0 8 8" WOOLLENS— Kaiapoi (17s paid) .. 0 8 3 0 9 0 Kaiapoi (pref.) — 0 14 0 ' Mosgiel 6 15 0 ~ COALWestport .. •• 1 11 8 1 12 3 Stockton (ord.) .• 0 1 2 0 1 6 Stockton (pref.) 0 2 11 . — GASAuckland .. .. 1 3 0 1 3 7 Auckland (contr.) — 0 17 3 . Christchurch .. :t i 0 1 4 C Christchurch (5s paid) 0 6 3 0 6 5 Timaru .. .. — 1 3 " 0 BREWERIES— Crown — 0 15 3 Jlonteith'a — 1 0 0 New Zealand 1 19 0 2 1 6 Staples 1 18 10 1 19 4 Timaru —. 0 15 9 Ward 1 12 0 1 15 0 White Star .. — 0 18 0 Tooths 2 fi 0 2 8 0 CEMENTS— Wilson's .. . i 1 17 7 .1 18 0 MISCELLANEOUSAu'toinatic Totalisators 0 15 9 — Amalgamated Wireless 0 15 9 0 19 6 Beath and Co. 1 12 0 1 12 6 British Tobacco 1 19 9 2 0 0 Burns, Philp 2 0 0 — Colonial Sugar 54 17 6 55 10 0 Electro. Zinc (ord. cum div.). 1 10 9 1.11 S Electro. Zinc (pref. cum div.) 1 12 1 1 12 3 Henry Jones Co-op. .. 1 17 6 — N.Z. Farmers' Fertiliser 4 0 0 — N.Z. Guarantee Corpn. 0 8 7 0 8 11 N.Z. Paper Mills' .. . — 0 17 0 N.Z. Sugar of Milk .. — 1 5 0 Taranaki Oilfields 0 9 9 — Victoria Nyanza Sugar (cum div.) 2 14 0 2 15 0 Whitcombe and Tombs 3 8 0 — Quill, Morris 1 1 0 1 1 8 Greater Crystal Palace 0 17 0 0 19 3 MINING— Kawarau 0 0 3 0 0 9 Mt. Lyell 1 8 6 1 8 9 Waihi 0 11 3 0 11 9