FINANCE AND COMMERCE

Press, Volume LXIX, Issue 20989, 18 October 1933, Page 11

FINANCE AND COMMERCE

UISBANE WOOL ■SALES VERY STRONG! MARKET I GOOD CLEARANCES •«»s isioctiiins— sy ilictjsio I" y.T.TOJura-corTJtiGirt.) lßec eiJSf'October 17, 10.55 p.m.) BRISBANE, October 17. , jj, e wo ol sales 11,072 bales were A. e d the selection being rather 1 the average. There was a very n* market, the Continent and id being the principal buyers. Rlent clearances were effected. li market was distinctly in sellers' 'our Top prices were: Greasy iner;J 2 0Jd, scoured 30d. !R ADFORD MARKET FIRM LONDON. October 16. The Bradford market is Arm, with after more buiness, especially in finer urts. • WHEAT TRADING CARGOES, PARCELS, AND 'FUTURES LONDON AND LIVERPOOL QUOTATIONS (Received October 17, 9.5 p.ni.'i LONDON, October 16. Wheat cargoes are generally elected in view of political developiMits. Parcels are quiet. 'futures are quoted:— Oct. 13. Oct. 16. s. d. s. d. ondon (a quarter;— December .. 19 3 19 2 February . 19 6 19 a April .. • - 19 10 19 9 iverpool (a cental)— \ October .. 4 31 4 2.4 : December .. 4 5J 4 4i March .. ..' 484 41J , May .. .. 4 91 4 9J

EXPORT PROHIBITED

NORTH DAKOTA ACTION (Received October 17. 8.3 p.m.) NEW YORK, October 13. Goveimr William Langer, of North iakota, late to-night signed a probation prohibiting the shipment of heat from North Dakota, to become Jective at lrv.diught on Wednesday, sd continuing indefinitely. He will i- the Governors of other spring fc:t%>Voducing states to join him. Mr Langer took action under auth•ity granted by the Legislature this ear. Wheat sold in Grand Forks on aturday for 53 cents a bushel, which 3 said meant ruin to many growers prices in other lines continued to ivance. Under Federal estimates as of Odour 1 North Dakota wheat production a year will be 6'2,C55,00G bushels. MEAT TRADE BLUE STAR SERVICE TO NEW ZEALAND FIRST SHIP LEAVES

(Received October 17, 5.5 p.m.) LONDON, October 10. The Tuscan Star left on October 13 o inaugurate the Blue Star Line's New Zealand meat service. PRICE OF GOLD i'bwhsh omeuc witless.) RUGBY, October 16. Gold (a fine ounce) is quoted: — £ s. d. October 16 .. ..686 October 14 .. .. 6 11 3 October 13 .. .. 612 10-\ October 11 .. .. 6 13 H October 10 .. .. 610 9 PRICE OP SILVER (MITMH OWICIiii WIEILESS.) ~, RUGBY, October 16. Wver (pence an ounce) is quoted:— Oct. 14. Oct. 16. ispot .. 13 3-16 131 Forward .. 18-J 18 3-18 HIGH COMMISSIONER'S REPORT Jhe following cablegram, dated •ctober 14, has been received by the i jspattment of Agriculture from the I Commissioner for New Zealand, •ondou;--Tallow—Fair demand at. auction, f, 806 casks offered, of which 397 * at unchanged prices. ■amp—Manila: Fair business done. .* grade for October-December ■|ment sold at £l4 10s. wal-Market quiet. Small business ;«own done in No. 1 grade for Oc-'(W-December shipment, £l7. ««v Zealand—Market quiet Small £»<ss has been done for October■Jjonbar shipment in fair grade £l4. ■f common grade £l3. "steady. New-laid, 2 ?. oxed > slow. English, national £?• «3 to 18s 6d: English, ordinary t%i , ? d t0 ICs 3d ; Australian, 141b LS? a J ong hundred, 10s 6d to 12s; IS lls to ISs 6d - ~~ Sales much slower; prices

METALS MARKET Utetaived October 17, 8.25 p.m.'! „ LONDON, October 10. U:t. 1 1. o,'f, 16. 0n.,.. A ton. A ton. {■IT *■ *■ <i- £ a. a. wl Sii 6 105 S3 1G 101 ■"'"'rt.c .. ;;, 3 o 0 U7 0 0 fe,\ •■ -7 0 0 uS 0 O C, 113 ,• • " 0 O 33 0 0 -*k. 4a electrolytic: 8 tents per lb. Spot Sm " V " 6 1X " S ! %*1 »- •'- " <> 13 3 6 ;' m . .. 16 10 O 16 1] 8 ■■s-~ ' a -. 16 15 ij IS 10 3 *w ■ I'stj, , -. i-JS IS !» -23 16 3 PVO* •■ --3 17 0 -23 16 Li

CANTERBURY MARKETS ■ 'BT OCR (.•OIfyMUJUb tWi'Okj Tuesday Evening. Quotations for most lines of produce remain unaltered. Export business continues in ryegrass values to farmers being up to 2s 6d a bushel. Owing to the dry weather, there was a hardening in the price of oats at the end of last week, but it is expected that the rain of the week-end will arrest any further increase. A Gartens were quoted in the south at 2b -Id, f.0.b., s.i., and in Lyttelton at 2s Cd. The on truck price, locally, is Is lOd to Is lid. B's were auoted south at Is lOd. f.0.b.. s.i.. and 2s to 2s Id. f.0.b., s.i. Chaff is quoted at £2 a ton on trucks. There is more enquiry lor fowl wheat. Quotations are 3s 9d, f.0.b., s.e., Lyttelton, and 3s 6d, Timaru. There is no movement in the potato market. The season is practically p.t an end. Quotations. The following are quotations tor produce to be paid to farmers, on trucks, free of commission, sacks extra, except where otherwise stated:— Wheat (interim payment for September)— Tuscan 3s 9d, Hunters 3s lid, Pearl 4s Id, all f.0.b.; fowl feed, to 3s 9d a bushel, f.0.b., s.e., for Drompt. Oats—A Cartons Is lOd to Is lid; B Garions Is sd. Potatoes (nominal) —£2 a ton r'o/ whites. £2 15s for Dakotas. Italian Ryegrass—2s 3d to 2s 6d a bushel for heavy seed. Perennial Ryegrass—2s 3d to 2s 6d a bushel. i Cocksfoot —6d per lb for Akaroa. 5d I for Plains. ! White Clover—ls per lb. Cowgrass—Sd to 9d per Jb. Chalf—37s 6d to £2. Flour—£l3 12s a ton, local; £l2 Us shipping. Bran—Local, £1 a ton large; £4 loi small- shipping, £4. Pollard—Local, £5 10s large; £6 small; shipping, £4 19s. AUCKLAND ITITE PRESS Special Service.!

AUCKLAND, October 17. The local potato market was weaker this morning. Requirements arc comparatively small, as local new seasons are coming forward freely, and the arrival of about 5000 sacks from the south means plentiful supplies. At the moment prices are down from 10s to 13s, compared with a week ago. Merchants are quoting £5 a ton. ex wharf, and up to £5 10s through Store. The onion market is steady, with a good sale for Pukekohe's from 9s to 10s per cv/t, according to condition, and Canadians are commanding 14s 6d to 15s a bag. The southern oats market is firm, and local dealers have advanced their charges for B Garlous by Id to 2s lid a bushel. Chaff is unchanged at £0 10s a ton. There is a steady demand for wheat, and the market'is firm at 4s ltd a bushel. Maize, too, is unaltered. Supplies continue to come forward freely and sell readily at 4s to 4s 2d a bushel, ex city stores. Supplies of pollard continue to come forward from Australia in just sufficient quantities to meet immediate local requirements. Merchants have been compelled to revise their price lists upward?, and are now asking from £7 to £7 5s a ton.

LOAN CONVERSIONS AUSTRALIAN AXIJ NEW ZEALAND New Zealand has succeeded in securing slightly better terms for the conversion of her £5,000,000 loan to replace 5 per cent. 1932-34 stock than Australia was able to obtain for her latest conversion of £20,951,000 of 6 per cent, and 5? per cent, securities, says the "Melbourne Axgus." The Commonwealth loan was issued at £9B, and the interest rale is 2:1 per cent. The actual yield to investors will be £3 16s 6d per cent., or £3 17s lid, including redemption in 20 years. The issue price of the New Zealand loan was £97, but the interest rate is 3i per cent. On interest only the yield to investors is £3 12s 2d. Including redemption in 10 years, at which stage New Zealand will have the option of redeeming the loan, the yield will be £3 15s Id per cent, and at the compulsory redemption period of 21 years £3 14s 3d. Naturally a comparatively small loan like that of New Zealand would be likely to receive a better reception on the money market than one of four times the amount, like that of the Commonwealth.

I COMPANY NEWS lIORDEBN BKOS-, LTD. Hordern Bros., Ltd., Sydney, operating softgoods retail stores, shows a profit for the year ended July 31 of £30,207, an increase of £1976 on the profit for the previous year. Gross profit was £2612 higher on the year at £217,019. Preference dividends are paid less the statutory deductions, and require first preference £6975 and secend preference £6200. Ordinary dividend is 6 per cent., being 2£ per cent. interim and 3' per cent, final, and absorbs £13,500. With £12,527 brought forward, there is £16,059 carried forward. The same dividend was paid last year, but no dividend for 1931. HOTEL INCREASES DIVIDEND. Usher's Metropolitan Hotel, Ltd., Sydney, shows a net profit of £15,043 for the year ended August 31, compared with £12,010 for the previous year. Preference dividends, as stated in the report, amount to £798, andj ordinary dividend of 9 per cent, to £14,040. With £6840 brought forward there is carried forward £7045. Thej dividend for 1932 was 6i per cent.,! and for 1931 it was 5 per cent. , In vi<nv of the taxation relief promised bv the State and the Federal Government, the directors anticipate ■ that turnover will show an improvement during the present year.

J. C. WILLIAMSON, LTD. J. C. Williamson, Ltd., Sydney, alter three vears of continuous losses, showed a net profit for the year ended June 30 last. Gross profits were £42,534, being £8503 m advance of the gross profits tor the previous year. NJ profit was £3580, an improvement ot £B-339 on the loss of 1031-32! The debit at profit and loss is now £52,61 i. lax ation still hangs heavily over the> company. The leasing ot Her Majesty s Theatre, Sydney, which forms part of the company's freehold, to Woolworths, Ltd., and the disposal of the company's interest in the Tneatre Royal, Melbourne, are reported to Shareholders. The show -: decline of £157,811 in "debtors _ and, balances," and an increase °« J"sf" , | in "real estate, scenery properties wardrobe, goodwill, etc." :