FINANCE AND COMMERCE.

Press, Volume LXVII, Issue 20328, 29 August 1931, Page 14

FINANCE AND COMMERCE.

(CONTINUED.)

WOOL.

BRADFORD TOPS. 'U2vIXEt> PBKSS -ASSOCIATION —UT KLECTBIC TELEGRAPH—'COPYRIGHT.) (Beceived August 28th, 5.5 p.m.) LONDON, August 27. The Bradford tops market is steadier •with more enquiry. There is, however, not much business. Quotations (as compared with August 13th) are; — Aug. 13th. Aug. 27th. d. d. Seventies >. 25 24$ Sixty-fours ». 224 . 22 Sixties ..21 20 Fifty-sixes «• 15J 15$ Fifties .» 12| 12$ Forty-sixes 10$ 10 Forties ..10 &$ AUSTRALIAN TOPS. OVERSEAS FREIGHT REDUCED. (Received August 28th, 9.30 p.m.) MELBOURNE, August 28. The overseas shipowners have announced a reduction in the freights for wool tops from l|d per lb to lgd between Australia ana Great Britain. The decrease represents 8s 4d a bale. OIL PRODUCTION. RESERVOIRS AT MOTUROA OVERTAXED. <PMBS ASSOCU.TXOK mjESBAV.) NEW PLYMOUTH, August 28. The Moturoa No. 2 wq}l has produced 100 barrels in the last twenty-four hours. A two-inch pipe has now been inserted in an endeavour to obtain a continuous flow. Already 800 barrels .have been collected, and the accommodation is taxed.

KING SOLOMON DEEP LEAD. (PBJCSS ASSOCIATIOH MLXGJUU.) INVERCARGILL, August 28. The mine manager of King Salomon Deep Lead, Ltd., reports that the wash-up for the week totalled 230z 6dwt.

FROZEN MEAT TRADE.

SEASON'S HEAVY LAMB EXPORTS. . According to the latest return issued by the M«at Board the exports of frozen inMt for the 10J months of the 1930-31 season compare a* follows with those for the corre-sponding-period ol the previons seaspn:—Beef. Mutton. Lamb Pork. C/cs. C/cs. C/cs. C/cs. 1930-31 , 106,262 127,765 1,867,786 6,210,372 114,210 Increase 21,503* 316,682 1,041,221 2,691 •Decrease! The killings qf stock for export daring the 105 months periods compare as follows: In addition 01,565 hags of boneless best were exported as compared with 76,267 bags in 1929-30. ■ N . Beet (quarterf) . - W(i|her-'mntiga (c/cs.) 1,851,774 1,462,577 Ewe mutton (c/cs.).. 769,746 1,156,657 LamV (c/ 65.) .. 7,767,428 6,920,413 Po?k, porkers (e/cs.) 109,866 92,621 Pork, baconer* (c/cs.) 23,493 88,919 Boheleps (fat. / c/cs.) *58,057 1W,778 Sundries (frt. e/ci.) .. 236,219 163,418 SHIPMENTS TP "UNITED KINGDOM. The> Now Zealand Meat Producers' Board is advised from its liondpn office that the shipments from Australia and South Amerioa to the United. Kingdom during- the firsli half of August werb as follows: Australia— , Carcases mutton lIL . 111,136 Carcase# lanib Quarters beef 48,420 South A|ueri<ja-^ - . PlfflHSl A m & 48,981 Quarter* ocef (frosen) „ • 686 Quarters beef (chilled) 181,523 The shipments from 2?ew Zealand to the United Kingdom for pame period were as follows: , Carcases muttott .. .. 58,967 ■ Carcases lajpb " .. 244,041 Quarter# beef .. .. 1,996 " The gbipmgnts from Squth America to the of Euf(®o during the saute period were as- follows t—Mutton 303 tpus, frqzen heel! 745 tons. . Sutler cheese. LONDON MARKET PRICES. (fteceived August 2gth, 5,5 p,m,) m . . . LONDON, August 27. The butter market is quiet. per pwt. Eacish .. 122 >few Zealand, choicest salted lib to 112 Australian, choicest sajted .. 106 to 108 "onsalted gutter the same. The cheese market is slow. Prices:— Per owt. •pv Zealand, white 02 to fia Zealand, coloured •„» 64 to 65 ->JK! r8 H an ' , .I- 60 to 61 Australian, coloured , „ 61 to 68

LONDON QUOTATIONS. Dmlijety and Co., Ltd., have received the fo)}owu>sr Jrtjww from Swaaol Page and SondatedLqndom, August 27th:— IqtteF—Market weak, Danish, 122 ato 1245; finest New Zealand, U2s to 114s; finest Australian unsalted 108 a to 110s, salted 107s to 10981, g.a.q. 104 a to 106s. ' §hl»?96-Trlfark?t slow. Quotations: New Zealand, white 62s to 63a, and coloured 64s to 65a; Canadian, spot whits 62s to 63b, and coloured 6®s to 64?; Canadian, c-i.f. 60a to fils; Aw«tralian, white 60a ta 61s, and coloured 62s ta 63a. ,/ 'V * T}i« Jf4tiional Mortgage and Agency , Co, of Jjfow Zealand, Msl-, advise having received - tiir. fgHQwjna cablegram from thefr prinoiBalK,'A. J, Mills w4 Co.'. London : venr plow, New Zealand. » finest Il2tf to 1148, unsalted U2g to H4#i firste. 110s to His; Paniah, J34p to 128*; Australian, 106 ato J6Bs- Continental market ,has declined heavily. v ClieesflrnMarbet is alow. White, C2s ta • 638; coloured 63s to 64». A, .04 Vtfymtm *ad <?o., Ltd.. have t* csivfld the following cablegram from their principals, J, Pfld J, Jionsdale and Go. (Jjon'poijtical' affairs, adversely' effected trading for all goods. Market fie. pesaiwi 8»d Uekinpf confidence. anticipate m,»rovee}Bnt from now onward?. i 20«; New Zealand, 113® to «8; Australian, 106 ato 107 a, 6J» to m-» coloured ebesMj >. Wd to ««*.

THE FRUIT MARKET.

CHRISTCHURCH. The warmer weather has been responsible for increased supplies o£ vegetables, and, prices, especially for cauliflowers, have been easier. A shipment o£ South Australian and Sydney fruit came to hapd during the week, the bulk of the South Australian fruit being in indifferent condition. The best quality apples have slightly improved, but the majority coming forward at present aro of small size and inferior grade.' The average prices received at auction for the week ending August 29th, 1931; were:— Apples, local, per case up to 7a tid; apples, Delicious, per case up to 9s 6d; apples, rooking, per case 4s to 5s Gd; bananas, Oook Island, per case up to lis; grapes, Saij Francisco, firsts, per box 27s 6d; grapefruit, South Australian, per case 12s; lemons, Mildura, per case up to 17s 6d; lemons, South Australian, per case up to 17? 6d; lemons, Sydney, per case 16s; mandarins, Sydney, per case' 10s to 12s; oranges, Cook Island, per case 17s 6d to 20s;'oranges, Sydney, per case up lo 16s; oranges, marmalade, per case 8s; passions, Sydney, per case, 12s; pineapples, Sydney, per case up to 21s 6d; pears, dessert, per half-case up to 6s; beet, per dozen bundles up to Is; cabbages, per dozen up to" 7s; per dozen Is to "2s; carrots, jaer doien up to Is; celery, per doz. bundles ss; leeks,"per dozen '2s; lettuce, per dOzeil ss; potatoes, per sugar-bag Is; onions, local, Jier su|;ar-bag 3s to 4s; parsnips, per dozen Is; potatoes, per sack 2s '6d to 3s; radishes, per dozen Is; rhubarb, per dozqn 10s" to lis; spring "onions, per dozen Is Cd; turnips, per dozen Is; spinach," per dozen "'2s; eggs, first grade up to lid; eggs, second grade, 8d to 91 d; duck eggs, up to llld.

DUNEDIN. IT HE PRESS Special Service.] DUNEDIN, August 28. Heavy supplies of apples are coming forward from Central Otago, Canterbury, and the Taieii. Inferior quality are hard to place, and etocks have accumulated in the auction'rooms.' Choice quality Sturmers have eased a little in price, but there is a good enquiry for choice Delicious. The heaviest shipment of Australian navels this season was landed ex the Wainui. There was a total of 5400 cases for Dunedin. The largest consignment previously this season was 4000. The quality of somp of the shipment wis excellent, but a fair proportion' could h»ve been in better condition. New Zealand poorman oranges are practically finished. Heavy supplies of Sevilles are arriving from Australia and offering at low rates. Australian growers report that continued wot weather in New South Wales and Victoria is affecting the keeping quality of oranges. Bananas are plentiful, there still being a fairly large carry-over from the Maui Pom are shipment of Samoans. In addition, a fairly large consignment of Barotongangrown arrived during the week. These were sold at 12s Gd per case, a price which will not leave shipper# with a margin of profit. Consignments of Californian grapes reached the market duriner the week. A small shipment of Australian-grown was landed ex the Wainui. The condition of Ihe latter was poor, and low prices had to bo accepted. MONEY CLUB.

CHRISTCHURCH AND NEW BRIGHTON MEETING. The annual, general meeting of the Christchurch end New Brighton 00-operatlve Money Club was held last evening. Mr B. Browning (president of the club) preside#, and there was a small attendance of members. In moving the adoption fit the annual report and statement of accounts the president said that since the last annual meeting the club's headquarters had been removed from New Brighton to Qhriptchurch, and this had resulted in a considerably increased membership, while only seven had withdrawn. The amount to the credit of shareholders had been increased from £2412 15s 8d to £2853 2s 9d; £JI2 Os ~Bd had been paid in subscriptions during the year, and £316 10s lOd had been withdrawn.' New loans amounting to £ls9Q 10s had been granted, and £690 4s 10d repaid. ■ The }oans now total £BQB6 12a Bd. Tne balance of profit and logs account stands at £ll9 6s 6d. two dividends! each of 8d in the £l, were paid during'the year, and £2O added to the reserve. ' * . The motion was seccmtted by Mr T. H. Williams and carried. " The election of oncers for the ensuing year resulted as follows: —President, Mr E. Browning; trustees, Messrs A. L. Cropp and' G. B. Brown; committee, ' Jtessys T. H. "Williams ana G. W. Haverfield; treasurer, Mr H. Greenfield; secretary, Mr J.' B. Faulls; club's auditor, Mr J. Ainger; shareholders' auditor, Mr R. T. Lee». " A vote of thanks to the officers for their services during the past "year was carried.. FEILDING STOCK SALE. (PRBB9 AasOOfTlO* TBUUnAU ) J'EILDJHS, There was a h«,§vy yarding at t sheep at tp-day'a sale, and prices dropped slightly compared with week. Fat wethers realised to 19s Sd, fat ew to 17i 4d, fat hoggets to 13s 9d, and latnbs to 17« id. There was a large yarding of dairy stock, mostly springing heifers, which sold to £7 7«,vffltb a gpfld demand. „ Fat hullocks made £5 4s, and good fat Hereford cows £7 Bs. LEESTON STOCK SALE. ■ The main feature at yesterday's stock sale at the lieostpn yards was an exceptionally large entry of store pigH—easily the largest made at Leeeton for' some years. The' total numb?? was net far short of 400. Considering the entry, tha prices throughout were surprisingly good, the demand continuing pntil the last pen was disposed of. Qne reason why the entry was so numerous wb» that there had been no sale for a mouth, the previous regular market day falling in Natfqnal Week. The good demand |nay he accounted fa? by the fact that farmers have large quantities of potatoes on hand for which there is practically no sale, while the opening of.the" dairying season haa also made available a good supply of skim-milk. Fats totalled about 40, and prices did not show any marked change, There were only a few small ljneß of sheep, and thg cattle entry numbered go head, mostly ordinary sorts. Tbe sheep sales comprised 18 halfhred store hoggets at 10s 6d, 12 wethers 13s 9d. 26 at 12g 9d. 10 at 10s. Several lots were pa in. Bacon pigs made 63a 6d to 88s 6d, pork' ers 37s 6d to 59s 6d, large stores 29s tp 48s 6d, medium 18s to 275, weaners IBs to 17s. The best Bale in cattle was a cow in profit at £lO.

In the desert of Arabia, where no bird is heard, the sanfl it i» that sings. Singing sands have been reported from many parts of the world, from the desert of Sinai, fropi the Libyan deaejt, and even from the Hebrides. Some sands merely squeajc, Those of the desert sand dunes give forth a louder BUd more concerted note. Those which Mr Bertram Thomas, the explorer of Arabia, found near Yad'la are of 'the secqnd kind. Jle describes) it as a lotid droning, and ascribes it to the slipping sands of the whole face of a high sand ridge. A wind was blowing, but he had noticed aand being carried in wisper over the sand dunes without any noise to follow. The entry of the Canadian-Pacific Railway Company into the Pacific mail service was referred ta by Mr H. W. Brodie, overseas passenger manager for the company, on his arrival at Auckland by the Niagara from Sydney this -week, The company is jointly interested witJT'tlw Union Steam Ship Company' in the formation qf the Can-adian-Australasian Line, Limited, which has taken over the Pacific liners Aorangi and Niagara "J aw naturally very pleased to see owr great company interested in the New Zealand and Australian steamship service in this direct way," said Mr Brodie. "It is,. and should be, very reassuring news, for whenever our company extends its railway-lines or interests it* self in steamship services in any part of the world it means increased pros* jperifa fox »ad» pl*e«fc M .