WHEAT.

Press, Volume LXVI, Issue 20104, 6 December 1930, Page 14

WHEAT.

QUOTATIONS IN BRITAIN. LONDON, December 4. Cargoes are dull and the market is featureless. Parcels are irregular and have attracted little attention. Mauitobas are 3d easier. Futures are quoted:— London — December . - 22s 9d per quarter February .. 23s Od per quarter Liverpool—December .. 4.S IOJd per cental March .. 5s lid per cental iM;i.v .. 5s 3Jd per cental The trade is fairly active. Australian, ex ship, 28s 6d to 29s per quarter. CHICAGO QUOTATIONS. CHICAGO. December 4. Wheat quotations: Cento. December .. .. .. "OJ March .. .. 7«3 May .. .. Hli July •• -- •• 748 GENERAL MERCHANDISE. GROCERIES. Wholesale grocery houses have experienced a marked improvement in the demand for all lines. Orders are coming in very free'y. and the opinion is generally expressed that thcro Is every evidenco of Christmas trading being up to the level of last year, despite the harder times. The public usually treat themselves to luxury lines each Christmas period, and the grocer generally gets the lion's share of this trade. Butter and Eggs. Thorn is at present a good dcinund for eggs and butter, and this week sumo country grocers wero ablu to quit all they received amongst their clients, and therefore had no (surplus to send to the City. Tho low price for separator butter has stimulated the demand, and good business in this line is now reported. There may be a different position to report after tho festive season ia over. There is evidence of low prices for eggs in .January and onwards for a few months. New Season's Fruits. This year all lines of new season's fruits, such as dates, fig«, muscatels, almonds (both Jordan and Sicily), have opened up showing exceptionally quality. Several different grades of dates all show extra prime sample, especially some Ilallowai types. This line, although not a stranger to this market, has not been in past years a ready seller, mainly owing to the !iitcti price it usually command*. This season Hallowais have landed at a figure that should att-- et L'ood business. The in well above Khadrawi in quality, and it has a d sl.iii tive flavour. Figs and musi-atels are selling very freely, and it looks as if, by the time Christmas arrives, Ktorks will be on the short side. Tho snme remark applies to Jordan almonds. Some wholesalers, anticipating a smaller demand this season for dried fruits, did not order in the usual quantities: consequently a normal Christmas deinnnd (which looks like a certainty this month) will clean up most s'oeks which ha«ve arrived. Further supplies of fißs, dates, and almonds are due later, but they will probably land after tho New Year, whoa the heavy demand is over. Toa. The usual tea nuct'on was held in Colombo on November Usth. and n rood berch of buyers was present. Quality was (still unmacioi">, bi i:ig as ind J: ivnt. Common grades wero slightly easier, mediums held to their previous levels, better quality in several cases advanced slightly, whilst in quite a number of instances declines in price were noted. Th.s downward move is stated to be due to the higher grades in some cases exhibiting traces <>f inferior quality due to weather action. The Java tea market is very firm at present, duo to heavy operations by Australian buyers. Prunoß. "Late advices from f'al'fornia state that the larger sizes, that is 30-40's and 40-50' a, are very short, and the outstanding feature of the prune crop is tho heavy supply of Mn&IJ fruit and tho unusual small crop of all sizes hotter tha-.'i 50's. The prune crop in two States in America will bo barely ono-third of last year's. Th?s refers to Oregon and Wash inglon crops, which in past years have kept prices down in Santa Clara grades. With tho rompetition weakened, a healthier market for the usual Santa- Clara Valley crop is antici pated, especially for larger s'zes, which to day arc quoted on the following basis; that is 70-80 for standard value, add to this 5s :>d a cwt for CO-70's, fis Od for 50-00's, 14* Vd for 40-50 's, 23s Od for 30-40's. This will give some idea as to the lop-sided market, especially tho difference between Go*7o'b and •10-50'b There has not been soach a gap for M.>mo years. Hew Potatoes. Grocers are now taking a keen intorest in this line, and sale~s are increasing weekly. Good supples are coming forward, mostly from Auckland, and are landing in fair condition. Prices are falling almost da«ily, and as low as A'B 10s to a ton is being quoted f.o.b North Island ports. Grocers are still Jinding a fair demand for local old potatoes at prices which are disastrous to the growers, due to the very low local values for old crop Figa. The London market for some linos of flgs shows an upward tendency. Naturals, in mats, have advanced, and this week id & lb wan demanded on tho previous price to obtain confirmation. Other sizes are reported as firm, and advances are anticipated. Onions. Fair parcels of new crop Australian onions have arrived in good condition, although a trifle green. They appear to bo Globes, and have carried well. This line is worth enquiry for, as it will serve all requirements nntii tho local crop comes on the market. Theso onions are packed in smallor bags, which makes them easier for the grocer to buy than the usual large gunnies or former ye/vrs. General. Wholesale houses will as usual be delivering for 25th account very early this month. Country orders should be dispatched about December 16th-18tli, whilo town deliveries should start about December 18th. As the usual Christmas rush is bound to set in again this year, grocers are strongly advised to place their orders as early a*s possible, and thus give merchants a chance to cope with the deliveries. With 25th deliveries so early, tliere is no advantage in holding off after the date, as all debits afterwards will bo on statement basis of February Ist.

P. AND O. COMPANY.

A COMPARISON. Following is o comparison of the Peninsular and Oriental Steam Navigation company's results and appropriations for tho last three years:1928. 1929. 1930. £ £ £ Brought forward 118,327 121,930 120,864 Net profit .. 804,702 822,063 745,439 £923,029 £943,966 £866,303 Deben. reserve 103,132 90,000 90,000 Provident fund 20,000 30,000 50,000 New issue charges 11,531 Dividends — Prefer., 5 p.c. 152,000 152,000 152,000 Deferred p.c. 12 12 10 Amount . . 514,435 551,102 459,252 Carried forward £121,930 £120,864 £115,051 With the present addition the reserve for the redemption of debenture stock will be £1.540,000. Tho stock amounts to £7,000,000, half being at 5 and half at 5J per cent, interest. It is repayable at the option of the company between 1930 and 1940. The declared profits are the lowest since 1923, when the amount was £716,176; in the following year tho pro/its were £971,124, the highest in the last eight years. In the last three years the company has had the use of £1,000,000 of additional capital. Commenting on the d announcement, the City editor of "The Times'* said the redaction would scarcely come as a surprise to any who have followed the course of liner and ordinary cargo Shipping during the last few months. The company ia mainly concerned with th*» trade with the East and with Australia and New Zealand, and the disturbance of comerce in these routes has been plain. The P. and O. has been affected by trying conditions in India and the Far East, 'and also by severe depression in the Australian route, where the immediate prospect for shipping companies cannot, by any stretch of imagination, bo regarded as promising. Present conditions in this trade, owing to the big fa'ling off in shipments to the Commonwealth are described as being more difficult than those at any previous time in the recollection of experienced shipping managers. The company is also interested in the fortunes, or, rather, misfortunes, of ordinary cargo shipping, for which profitable employment te now afruwlp taad to

YESTERDAY'S SALES. CHRISTCHURCH. Sales on 'Change—- £ s. d. Bank of Australasia ... 10 0 0 Commercial Bank of Australia ... ... 016 0 Bank of New Zealand (cum tliv ) ... ... 212 3 Bank of New South Wales 29 0 0 N T .Z. Itflfrig. (10a '-> aid) ... 0 2 1 New Zealand Breweries 2 13 (2) 2 12 Mt. Lyoll (cum dir.) ... 10 1 10 0 10 1 iuahakipawa ... 0 0 7J Sales Reported— Christchnrch Gas ... 15 1 Mt. Lyoll (cum div.) (2) 10 1 AUCKLAND. Sales on 'Change—- £ s. d. Bank of Australasia (2) 915 0 Bank of New Zaaland ... 2 12 4 Now Zealand Insurance ... 22 0 Burns, Philp ... ... 19 3 Kawarau ... ... 0 0 C Taranaki Oil ... (2) 0 2 3 WELLINGTON. Sales Reported—- £ s. d. N.Z. Govt. 5} per cent. Bonds, 1933 . . 99 17 6 Bank of New Zealand (cum <3iv.) (3) 213 2 N.Z. Guarantee Corp., ord. (3) 0 7 0 Staples and Co. (2) 119 0 DUNEDIN. „ £ s. d. Sale Reported— Wosfport Coal .. 18 0 RECORD GOLD YIELD IN CANADA. (FKITED PRESS ASSOCIATION—BY ELECTRIC TELEGRAPH—COPYRIGHT.) (Received December stli, 8 p.m.) OTTAWA, December 4. Canada mined 39,861,000 dollars worth of sold in 1929, the largest amount in its history, and surpassed only by South Africa and the United States. A.M.P. SOCIETY. THE CASH DIVIDEND. The present situation in regard to business generally reveals that those who are wise seize every opportunity for a sound investment. These are, however, few and far between under the existing conditions of finance and trade. The advertisement in another column l, y the A M.P. Society is therefore all the more worthy of attention at the moment. The society announces that all those who take out policies before December 31st will share in the surplus to be divided amongst participating policyholders as at that date. The cash divided among Ordinary Departm-nt policy holders at December 31st last (for one vear only) was just on £3 01)0,000, making a total distriH.i+mn pince the establishment of the society of over £47.000,000. Immediate application should be made by those who intend taking