PRANCE AND COMMERCE

Press, Volume LXXIII, Issue 22082, 3 May 1937, Page 11

PRANCE AND COMMERCE

ifIETALS RECOVER SLIGHTLY Jfflj&tND MUTTON MARKET EASIER W 15/ A *■ ' 'wVMW >veek-end report of the Smithfleld market states that ‘i&fo easier, but that consumption is improving. The mutton ’ IBtMt’te «k° a shade easier. ' has been a recovery in the price of metals, and this f been reflected in an improv ed demand on the Stock Exchange f or the shares of mining companies producing metals.

4 OOGK EXCHANGES PETALS IMPROVE 1 SATURDAY’S BUSINESS „ features on call on MffiSng were the activity in at'advanced rates* and -Broken Hill Propriety It® jvinf’s Transactions, exclusive Saw? “fates, were:- - listed stocks

v pimte Stocks Weaker Bunk of New Zealand were fractionaipweaker at 44s 2d. market closing «? iSd buyers, 44s 3d sellers. Union K eVed to £ll ss. and further, unamorted sellers at £ll 5s 6d. Sotdjbrough. Morts were firmer at 3315 d; Market closing Id either way. KZealand Refrigeratmg fully paid Sinej unaltered with buyer? and bqfihesa? at 19s 4d. New Zealand Sries advanced to 59s 9d. market SB W either way. • . Wen Hill Proprietary recovered to fflf ftl and 80s 9d, and more were offtiwat the higher price, buyers at ffllAMhe contributing were firmer en fiws’ offers 73s 3d. -Electrolytic Ziflct oijinary moved; up to 57s 3d aud'the -preference to dealings at 58s 2d md ,58s J 4d. G. J. Coles rose to tJMd-and £5 6s - 3 nd these ware taretS 1 and sellers’ closing quotations Mfflectlvely. Waldas Shoe were fractiiWlly ;weaker at 21s 3d. Shillings, IMed, rose to 17s 6d, and more were WM at that price. ffltojie’S? Reach were a shade easier, utlflr wd,' closing quotations id on dw<«ds Broken Hill • South .rose iUSliiS : 4Bs ;, 9d. !f Mount, Lyellßr- were jjmjbVaf prices ranging froth 45h ’ 3d (oWScf, Motmt Morgans -were steady rp tellers, and dealings at 15s. Unlisted Stocks ATatralign'-Provinelal Assurance had jz^-fid.' -Bailing Breweries (IJ> paiJr with sellers and deglmgsT at ,14s. • i iM ‘ti . AUCKLAND ; hj Sales on, ’Change * ■■ ri' H ,-jr; l 'iVi S d. Soui .. 4 13 9 Tavnirt Coal " - • .. .. 0 16 9 BrlM Tobacco .. ..296 BtotenttUPty. .. ..406 . 4 0 9; Twaaakt OU .. ..040 Vgllsted Stock todlßubber Mills (15s pd.) .. 13 0 • ■ -*■ ■ • ■ V . , J WELLINGTON , ." -Sales on.'Change , , . £ 8 s-Wes Sftnrday}— New Zealand 2 4 li OTji kink of Sydney .. 22 15 0 , Hlfi Wy„ . .. 4 .1 0 9»JW Sugar , .. 43 5 0 :: g ji*Ly- Ilstcd stocks ■ Jspigi&ritd. ... .. 7 4 0 Perpetual Forest .. .. 2 4 0 I DUNEDIN , i; f-- Sales on ’Change -■ l ' S # rt. s*w Of (New-Zealand (2) 2 4 2 ni®;. (o rd.) - (late Friday) .. 0 16 9 City; pebs, 4i ,p.c„ 1 .. 1 .. 101 0 0 if jv 5..SYDNEY w'iit ... ' Were recorded 00 • / . .Morning *W* # B^« CaiSoll " " £l '” “ .. .. 2 18 6 S?Hote aper !. < pref : ! \ I f ' V •* -- 3 13 0 .. .. 1 11 6

SMITHFIELD MARKET S - LAMB SLIGHTLY EASIER CONSUMPTION IMPROVING / ■ The \New Zealand Meat Producers’ Board advises that the following are the approximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business- done on the basis of delivered to Smithfleld market, and/or ex London stores. (Prices lor the two previous weeks are also shown.): —

Lamb Market*—Prices slightly easier; but consumption Is Improving. Mutton Market —Wethers and ewes —prices weaker excepting light weights. Beef Market—Frozen beef nominal; stocks short. Chilled beef firmer, owing to higher prices Home-killed. New Zealand Porker Pigs—Market steady and unchanged. New Zealand Baconer Pigs—Firm, with prices unchanged. »' AUSTRALIAN STEEL EXTENSIVE PLANT ADDITIONS Australian Iron and Steel, Ltd., has embarked on extensive additions to its plant to lower costs and increase production. The chairman, Mr R. C. Meares, told shareholders at the annual meeting in Melbourne recently, that ;a battery of 72 by-product coke ovens was being installed and should go into production in the current year. The Bulli and Mount Keira collieries, both within a few miles of the steel works, had been purchased to ensure adequate supplies of coal. An additional steel furnace, making four in all, had been installed; and began operations on January 25; and the installation Of a blast furnace with a capacity of 1000 tons of pig iron a day had begun. Mr Meares said that Lysaghts Newcastle Works, Ltd., had taken over the sheet mills owned by the company and were now operating them. The mills would shortly be moved to a new site at Port Kembla. When completed, the extensions proposed would put the company in a position to earn reasonable returns on the capital invested.* TENDERS FOR TREASURY . BILLS ; (BRITISH OFFICIAL WIRELESS.) RUGBY, April 30. The total amount applied for in tenders for £40,000,000 of Treasury bills was £89,540,000. The average rate per cent, for the bills at three months is 10s 4.18 d, against 10s 4.54 d a week ago.

MINING WORKSOP The return for the week ending April 29, was:— Yield. 220z. hours dredged, 134; yardage treated. 12,000. ARGO RETURN The return for the week ending May 1, was:— Yield: *66oz; hours dredged, 128; yardage treated, 13,000. MAORI GULLY The Maori Gully return last week \vas 530z for 136 hours. GILLESPIE’S BEACH The Gillespie’s Beach return was 02oz 6dwt for 170 hours. TALISMAN DUBBO RETURN Fifty tons of ore were treated at the Golden Dawn Battery for an approximate realisation of £289. "big RIVER REPORT The report for the period ending April 27, states that snow and rain delayed work on the repairs to the mine bins. No. 5 Intermediate level: The South drive was advanced 12 feet to 34 feet through reef track, carrying small boulders and seams of stone. The North drive was advanced 5 feet to 35 feet through disturbed reef track, carrying small seams of stone in the roof of the drive. No. 5 South rise; This was advanced 9 feet to 20 feet 6in. with 4 feet of good stone showing in the North end of the rise, and 32J tons of stone were delivered to the surface bins, NEMONA RETURN (PRESS ASSOCIATION TELEGRAM.) GREYMOUTH, May 2. The Nemona dredge last week obtained 98oz 14dwt for 1294 hours’ work and 17,100 yards dredged. MOSSY CREEK (PRESS association telegram.) GREYMOUTH. May 2. The Mossv Creek return was 17oz 18dwt for 130 hours’ and 12.100 yards worked. THE METALS MARKET

PRICE OF SILVER (BRITISH OFFICIAL WlttBLIBB.) RUGBY, April 30. The price of silver is 20Id an ounce spot, and 20 5-16 d forward, PRICE OF GOLD LONDON. May 1. The price of gold; is £7 8s an ounce. WAR LOAN STOCK f (BRITISH OFFICIAL WIRELESS.) V RUGBY, April 30. British war . loan 3£ per cent, stock is quoted at £lOl Us 3d. PROPERTY SALE The National Mortgage and Agency Company of New Zealand, . Ltd., Christchurch, report the sale on account of the estate of the late W. B. Clarkson, sen., of T3O acres, situated at Islington, to Mr Davis, who is taking up his residence there. •—3 FOREIGN EXCHANGES

COMPANY NEWS SWAN BREWERY’S PROPOSED DIVIDEND (press association telegram.) WELLINGTON, May 1. The Swan Brewery has advised the Stock Exchange Association tnat it is proposed to pay on June 2 on issued ordinary shares of 5s each a dividend of 6d a share, and m view of the projected new issue of capital a special bonus of 3d a share. BROKEN HILL SOUTH I . (press association telegram.) WELLINGTON, May I.* Broken Hill South, Ltd., advised thfi Stock Exchange Association on Saturday that a dividend of Is 3d a share had been declared payable at Melbourne on June 18. The books will close on May 7. NEW CAPITAL ISSUES (BRITISH OFFICIAL WIRELESS.) RUGBY. April 30. New capital issues in April amounted to £11,947,382. compared with fit 257 125 in March, and £10,456,137 in April. 1936. The total for the first four months of 1937 is £61,490,630. LONDON WOOL SALES LONDON,' April 30. At the wool sales, 8781 bales were offered, including 4534 from New Zealand, 6993 being sold. There was a good selection, and an active demand for crossbreds, especially from the Home trade, at full rates. Merinos were quieter, and were largely withdrawn. New Zealand lots sold as follows: Scoured merinos, Punawai, average, 33id; greasy crossbred, Braxton, top price 19d. average 17 Jd. London Quotations FOR HIDES LONDON, May 1. Prices for meat works’ dry salted hides are:—Queensland, 35-45, 9Jd per lb; 30-40, 9Jd; 25-35. 9d; 20-30, 9d. New South Wales—9gd 91 d. 9Jd, and 9|d. Wet Salted—Queensland, 50-60, 7id per lb: 40-50, 7d. New South Wales. 7fd, 7Jd. Victorian abattoirs, 7£d, PRICE OF RABBITS LONDON. May 1. Rabbits are flat. First large, ex store, 18s. LONDON PRODUCEMARKET LONDON,. May 1. Friday's closing prices:— Cotton—Spot, 7.22 d per lb; June. 7.05 d. Rubber—Para, HJd per lb; plantation smoked, lOd. Jute —May-June, £2l 15s a ton. Copra—South Sea, £l6 15s a ton; smoked, £l6; plantation Rabaul, £l7 15s. Linseed Oil—£3l 10s a ton. Turpentine—£l 18s 3d per cwt. PRICE OP APPLES LONDON, May 1. Apples are in good demand. New Zealand (ex Rangitiki), Jonathans. 12s to 13s 6d a case. Australian Jonathans, 10s to 13s a case.

SaJea on 'Change £ s'. d. to Union Bank of Aust. * ■ g GoWsbrough, Mort HZ. Befog' p . ' f New Zealand Breweries SlUU-BUITty. (cum 11 5 1 18 0 19 2 19 4 0 0 5 4 9 6 dlv.) • (2) 4 0 9 m ilectro. Zinc, (ord.) .. (prel) •• 2 17 2 18 2 18 3 3 4 i- * ■ '2 1« 3 to 0. !■ Coles <2) swss.'sss*.;" J Broken Hill South (cum B 3 0-17 0 1 5> n 9 6 5J 0 jffljjguntLyell (3) 2 2 5 5 3 4 4' v ' v :,' ' ' (6) 2 5 5 1 : " i (2) 2 5 6 jOO'jlpunt .Morgan (3) , 0 15 O ' Reported 100 Bank o*N.Z. (cum div.) soG. J. Coles •• 150 Waldas Shoes .% 5 1 4 6 1 2 0 3 , UNLISTED STOCKS t : gales on ’Change SO Blp8 Breweries (15s 0 14 0 f; Sales Reported 22j Australian Prov. Assce. 0 12 6

Apr. Apr, Apr. 30. 23. 16. Per lb. d. d. d. New Zealand SheepCrossbred wethers and/or maiden ewes: 54 54 481b and under 54 49 to 561b 45 5 54 57 to 641b 44 4g 4g 65 to 721b 4g 44 44 Ewes— 44 44 44 481b and under 49 to 561b 44 41 41 57 to 641b 4 44 44 65 to 721b 3| 4 4 New Zealand Lambs — Canterbury: 74 74 361b and under 7, 37 to 421b 6g 6| 6| 43 to 501b eg erg 6| Second quality: Average about 65 .65 ' 311b 63 Other South Island — 74 74 361b and under 7 37 to 421b 6| 6g 63 43 to 501b' eg eg' 63 North Island Downs — 74 71 71 361b and under 37 to 421b eg 63 63 43 to 501b eg 6g 6g Second quality: Average about 74 301b v 74 , 74 North Island— First quality: 361b and under 7 '7 7 37 to 421b eg 6g Second quality; Average about 63 63 311b 61 Australian Lambs — VictorianFirst quality: 61 61 63 29 to 361b 37 to 421b ' 64 64 64 Argentine „ Lambs— First quality: 61 3fllb aqd under 37 to 421b a-v 6| 8g 53 ■51 N,Z, Chilled BeefOx' hinds, 145 to 44 , ' 2101b .. 43 .44 • Ox fores, 145 to 3g 2101b 33 34 Australian- Chilled : Beef <» 'Ox hinds. 145 to "if; ■ -2101b ; 43 ■4g 4g; Ox crops, weights 34 33 3| corresponding Uriion of South Africa Chilled BeefOx hinds, 145 to 43 2101b 45 — Ox fores, 145 to 35 34 2101b — Southern Rhodesian , Chilled BeefOx hinds, 145 to 4g 2101b 43 — Ox fores, 145 to '31 2101b 3g —. Argentine Chilled Beef- ■ Ox hinds, 145 to 5g 5g 2101b 54 Ox fores, 145 to 2101b 4 4 32 Uruguayan Chilled Beef—■ Ox hinds, 145 to 2101b 54 5 5 Ox fores, 145 to 38 2101b 35 33 Brazilian Chilled Beef— Ox hinds, 145 to 2101b 43 4g 48 N.Z. Porker Pigs— First quality: 61 61 to 801b eg 63 81 to 1001b ,. eg 61 64 101 to 1201b 61 61 64 N.Z. Baconer Pigs— 121 to 1601b 6g 6g .61

LONDON, April 30. April 29. April 30. Cooper— £ s. d. £ s. d. Standard, spot 57 2 6 58 12 6 Forward 54 6 3 56 1 3 Electrolytic .. 60 10 0 62 0 0 to S2 10 0 64 0 0 Wire bars 62 10 0 64 0 0 Lead— Spot 22 8 9 23 7 6 Forward 22 5 0 23 5 0 Spelter— Spot t 22 3 9 22 16 3 Forward • ... 22 3 9 22 18 9 Tin— ' Spot 242 17 6 246 0 0 Forward 239 17 6 242 12 6 Silver— Fine, per oz. 203d 20Jd Standard, per oz. - 22d 21Zd Antimony—> British 88 10 0 83 10 0 Foreign 64 10 0 64 0 0 Molybdenite (per unit) .. 2 0 0 2 0 0 Molfram (per .unit) 2 19 0 / 2 15 0 Osmiridium .. 17 10 0 ' 17 10 0

(BRITISH OFFICIAL WIRELESS.) RUGBY, April 30. Par. April 29. April 30. Paris, fr. to £1 124.21 110 5-16 110 3-16 New York, dol. to £1 4.866 4.94 9-16 4.94 13-16 Montreal, dol. to fll 4.866 4.93 9-16 4.03 13-16 Brussels, 29.28} belgas to £1 35 29.28} Geneva. 21.57| 21.59} fr. to £1 25.2215 Amsterdam. 9.01J . fl. to £1 12.107 9.02 Milan, lire 93 15-16 to £1 92.45 93 15-16 Berlin, reich12.30 marken to £1 20.43 12.29J Copenhagen, 19.41 19.40} kr to £1 18.159 Stockholm, 22.40 kr. to £1 18.150 22.40 Oslo, kr. to £1 18.159 19.90 19.90 Vieryna. schgs. 26} 26} to £1 34.585 Prague, kr. to £1 164.25 14113-1S 1411 Helsingfors. marks to £1 193.23 228} 226} Madrid, pesetas to £1 25.2215 — — Lisbon, escudos to £1 110 HO 3-16 110 3-16 Athens, drach 347} to £1 375 547} Bucharest, lei to £1 843.6 672} 672} Belgrade, * dinars 276.3 215 215 Rio de Janeiro, pence to s milreis >. 5.899 4} 4} Buenos Aires, pence to dol. 51 _ Montevideo, pence to dol. • 392 392 Bombay, pence to rupee 19 ' 18} 18} Shanghai, pence to dol. 14} 149-16 Hong Kong, pence to yen • 14 19-16 14 15-10 Yokohama, pence to yen « 14 14 Batavia, guilders 12.107 _ Warsaw, par zlotys to £1 43.36 _ .•Determined by price of silver.