FINANCE AND COMMERCE

Press, Volume LXX, Issue 21255, 29 August 1934, Page 13

FINANCE AND COMMERCE

! BRISBANE WOOL SALES SOME SORTS HIGHER ANIMATED COMPETITION I I,M',i;i(,U II COPYRIGHT.) CIUSriANE. August 20. At tii" wuul uiU.s 9644 bales were olioi'ctl. tl»' bulk comprising average vuols. and competition was very animated. Japan being the chief buyer. Greasy ik/eee wool and skirtings showed a rise of 5 per cent, on last Week's prices find other greasy sorts i,o quotable change. Scoured wools „ u t belter competition, and also shtnved an upward tendency. Greasy merino sold to IGjd find scoured to 27d. It is t'Mhnaied that, average prices lor la,l week were about lo',d per lb owl between e.13 and £l4 a bale. JJRAI)FOKI> QUIETLY FIRM LONDON, August 27. The Bradford tops market is quietly flrni. Users are well covered. TRADE OF WESTERN SAMOA j.'t inilKß DKI'I.INK RKVKALED j front (Jin Parliamentary Uepurtcr.J WELLINGTON, August 28. The depressed condition of the ■world's markets is reflected in the trade figures of Western Samoa, according to the annual report of the Administration, laid on the table in the House of Representatives this afternoon. These figures reveal a further decline of 2.76 per cent, in trade as compared with 1932. Copra and cocoa values, says the report, are extremely low, and as these are the .most important products of the group local conditions cannot improve until there is a corresponding improvement in overseas markets. It is stated that the Administration has appreciated the position of the growers, and that in November last the full export tax of £2 a ton and inspection fees of 3s 9d a ton on cocoa were temporarily remitted. In addition, a simultaneous remission of 10s a ton of the copra export duty was granted, thus reducing the tax to £1 a ton. This was subsequently reduced further to 10s a ton. The trade figures for the year show the value of exports for 1933 as £173,837, compared with £183,028 for 1932 and £194,447 for 1931. In 1927, pxports stood at £335,978. The total Samoan trade was valued at £324,693, compared with £333.930 in 1932, £.'{59,397 in 1931, and £640,347 in 1927. The banana trade on the other hand shows an improvement on the previous year. This is attributed in the report to the good reputation established by Samoan bananas on the New Zealand' market, reflected by an increase of more than 15,000 cases on the 1932 figures. NIUE ISLAND'S TRADE FIGURES EXPORT OF BANANAS TO NEW ZEALAND [From Our Parliamentary Kcporter.J WELLINGTON, August 28. As in the case of the Cook Islands and the mandated territory of Western Samoa, last year's trade figures for Niue Island largely reflect the decreasing value of copra. The report of the island administration, presented to the House of Representatives this afternoon, states that copra has been in the past the Island's principal source of revenue, but during the last 12 months the market price has reached what is believed to have been a record low Wei The loss to the administration has been two-fold, in that the greatly reduced value has resulted in lessened production. The total quantityexported during the calendar year under review was 190 tons, valued at £1760, as against an average ot 522 tons valued at £8772 over the previous H) years. Fortunately, adds Hie report, the reduced value of copra has been onset to a great extent by the increased trade in bananas carried to New Zealand by the Maui Pomare. Tne exports in '1932 and 1933 amounted to 22.828 cases and 24,596 cases respectively, compared with 8703 cases m 3931. While, the small quantity shipped in 1931 was largelv caused by a prolonged drought and heavy storms, the 3933 fin ire is the highest yet reached. Imports for the calendar year, 1933, totalled £13,123, and exports £11.542. The figures for the previous year •were £14,756 and £13,987 respectively. The total trade for the year, 1933, was only £24.665, compared with an tverasie'oC £.':2,806 over the previous 10 years. COMPANY NEWS | HENRY liKKlty AND CO. (AUSTRALASIA), I/rD. Net income for the year ended August 15 of Henry Berry and Company (Australasia), Ltd., was £35,219. With £14,000 brought forward there k available £49,219. Dividends of 7 >■ Per con:, on the A and B preference shares absorb £33,977. A sum of £Li,242 is carried forward. The board ri -'Kurdr, i he income for the year as v «'y satisfactory, but thinks it wise to continue a policy of extreme caution, and to refrain again from paying an ordinary dividend. WINCHCOMBE, CARSON, LTD. Winchcombe, Carson, Ltd., woolwokers, Sydney, reports a profit ot for its' year ended June 30. as against £41,016 for the previous year. Dividend is advanced to 7 per 'Wit. (3 interim and 4 final), as against B Per cent, a vcar ago. and requires £35.000. A sum of £IO.OOO is added Jo reserve, increasing that account to * 150,000 and the balance, £,Mid. a ?ded t0'£3024 brought forward, gives i.7202 to be carried forward. SALE OF FARM H. C. Smith, of the City Market, sold "? public auction 38 acres at Mace's ?°ad, with residence and all outbuildlnß3, on account of the trustees in the estate of Timothy Hanlon. at a satis•actory price —*

WHEAT TRADING CARGOES, PARCELS, AND FUTURES LONDON AND LIVERPOOL QUOTATIONS CtrxiTEti t'aaaa association- ht jxbctkic TELBQRAPS —COPVllIGffr.) (Received August 28, 5.5 p.m.) LONDON, August 27. Wheat cargoes are steady and parcels

MEAT EXPORT PROGRESS FIGURES The Meat Producers' Board notifies killings for export for the season commencing October 1, 1933, to August 15, 1934, as follows:

EMBARGO ON POTATOES EXPLANATION FROM CABINET SOUGHT With the contention that the New Zealand complaint against Australian fruit and the Australian complaint against New Zealand potatoes were both groundless, Dr. Guy Haskins, the Christchurch dentist, who has annually a considerable area under potatoes, telegraphed yesterday to Mr E. J. Howard, M.P., asking him to seek an explanation from the Cabinet why New Zealand potatoes could not be sent to Australia, now that fruit from the Commonwealth appeared to be gaining unrestricted entry into the Dominion. . "The potato is a perishable article, Dr. Haskins said yesterday. "The present negotiations between the two Governments will, in my opinion, carrv on for another month or two. Australia will then lift the potato embargo, when the season will be over. The innocent potato grower will be the sufferer. As Australia and New Zealand are supposed to be members of one family, it is a pity that there is no reciprocity with our fruit and vegetables. The handling of our produce by our own National GovernI merit over the last few years has been such that I feel that it is unfortunate that our election does not coincide j with the present Australian election." CITY PROPERTY SOLD SECOND TRANSFER IN A MONTH The two-storey building ou the north-east corner of Colombo and Cashel streets has been sold by Mr P. W. Cosgriff, of 57 Hawkesbury avenue, St Albans, who purchased it a month ■u'o from Messrs S. R. Johns and i. Walshaw. to Aulsebrook and Company. Limited. Mr R. E. McDougall, Proprietor of the firm, stated yesterday that the firm had purchased the property for its reserves, and that there were no immediate plans for building on the Sl The small building in Colombo street adjoining the corner property, owned by Adams Bruce, Ltd., and occupied by Ernest Adams, Ltd., has also been acquired by Aulsebrook and Company. The corner building is occupied by a number of business firms. The tota block will have a frontage of oO feet | on Colombo street and 47 feet on , Cashel street. The prices have not been disclosed. | WAR LOAN STOCKS j JBRITISH oirriciM. WWBLISS ) j RUGBY. August 27. J British. 3} per cent. War Loan stock

METALS MARKET

in small request. Futures ar •e quoted: Aug. 23. Aug. 27. London (a quarter)— s. d. s. d. September .. 2\ 31 24 0 December .. 25 11 25 8 February .. 26 3 "26 1 Liverpool (a'cental> — October .. 5 10?, 5 93 December .. 6 1! 6 o: March .. 6 3} 6 23 May . 6 47 6 4J

1932-33. 1933-34. Beet (quarters! 330.981 427,882 Wether mutton 311,801 1,083,140 Ewe mutton 987,977 924,975 Lamb . 8.743.868 8.790,137 Porkers 343.204 259,198 Bacorters 100,951 51.291 boneless beef 513,258 419,339 Sundries 256.15(3 250,981 Stocks on Ham) Beef (quarter:-) 1 15,931 157.939 Wether mutton . 129,828 142,000 Ewe mutton . , 205.389 177,218 Lamb 527,582 351,070 Porkers 59,233 81,08ti Baconers 0,635 3,78(3 Boneless beef 186,527 63,734 Sundries 54,095 (50,475

s quoted as follows:- _ £ s. cl. August 27 August 24 .. 104 8 9 „. 104 8 9 August 22 104 7 6 August 21 August 20 ,. 104 7 6 .,. 104 8 9 August 1G .. 104 8 9 PRICE OF GOLD LONDON, August 27. Gold <a fine ounce) is quoted:— £ s. d. August 27 August 2.j August 24 \u"ust 2-J .. 6 19 4 .. 6 19 5 .. 6 19 3 .. 6 18 Ik August 22 August 21 August 20 __. .. 6 1.8 7 .. 0 18 2i .. 6 18 3 PRICE OF SILVER LONDON, August 27. Silver (pence an ounceM. quoted,21i 21 9-Ib Spot Forward 21 i 21 9-16

t\0NI> ON, A JJUSt - . yuotali'}"*; A t< a. » t 2u d. August A t .<: e. 2 7. >n. d. Standard, -,{.0 5 2 3 ') . . 23 9 4„ •J a 4 2a ii 4j io i to V.'ii'O ban American el( .. :n io . . 31 10 otrolytic: U 0 0 0 ocii U 31 15 31 l& per lb. 0 0 LeadSpot 1,'orwiird. .. 10 15 0 6 10 13 10 15 9 0 Spelter — Spot Forward .. 13 15 0 0 13 17 13 Jo 6 0 rin — Spot forward . 227 17 .. 2 27 17 6 228 3 227 16 9 Silver--Kinc, W-r 0/ . . 2 1 9 H (1 ■_M 9-16(1 ?3Jd st.-irflard. lie ro« '-'■'! id