FINANCE AND COMMERCE

Press, Volume LXXVII, Issue 23349, 7 June 1941, Page 7

FINANCE AND COMMERCE

PRODUCE AND GRAIN

, EASING IN POTATOES The quietness in the grain and produce market continues, and there is very little change in quotations. Lack of inquiry from the north and indications of a somewhat better crop than was anticipated a month or so ago have weakened the potato market. Digging is now proceeding generally, and in cases a good yield is being secured. Quotations are more or less nominal, but are at £6 a ton for whites and Dakotas, and £6 10s for Sutton’s Supreme, on trucks, to farmers. There is no life in the white oats market, prices for which in any case are fixed. Chaff remains at the last quotation of £3 10s a ton on trucks. The small seeds market remains very firm, as a good business could be done in most classes of seeds if shipping were available. Little produce has been got away this last three months, but the agreement to extend the meat purchase suggests that prospects of more shipping may become brighter. In addition to cocksfoot, white clover, and perennial ryegrass, a Home inquiry has set in for Italian, which was previously supplied from the Continent. The white clover crop was one of the heaviest on record, the indications earlier in the season of a bumper return being confirmed by results. America has been inquiring for seed, that country’s usual sources of supply being closed. The red clover crop was of normal size, but the quality is not up tosthe standard, owing to the effect of the rain on the seed. The following are prices to be paid to farmers on trucks, except where otherwise stated;— Wheat—Tuscan. 5s 9d; Hunters, 5s lid; Velvet, 6s Td; Marquis, 6s 3d (all f.0.b.). Oats—A Cartons, nominal, 3s; B grade, 2s 9d; Algerians, 2s 3d to 2s 6d; Duns, 3s 3d to 3s 6d for heavy, dark quality: 2s 3d to 2s 9d for light and Inferior. Ryegrassv-Percnnial, 3s 6d to 4s; Italian, 3s 6d to 4s. Cocksfoot—To Is per lb. Red Clover—ls to Is 3d per lb. Peas—Partridge, to 6s 3d. Lupins—3s 6d to 4s. Potatoes—Whites and Dakotas, £6 a ton: Buttons, £6 10s. Chaff—£3 10s a ton. Onions—£7 a ton. Linseed—£l3 a ton. White Clover—To 2s per lb. ASHBURTON MARKET Most lines of wheat have now been marketed. but millers are still prepared to accept all lines offering. Carton oats of heavy weight are in demand, but light lines are not attracting much attention. The market for chaff is quiet, with little business passing. Odd sales of potatoes have been recorded, but the market is well supplied at the moment. Partridge peas are in better demand, but few lines are available. Ryegrass, cocksfoot, and clovers remain firm at recent quotations. DUNEDIN (P.A.) The potato market continues quiet. During the last fortnight the demand for the local trade and also for shipment to the North Island has eased off. Digging in Otago and Southland shows that yields generally are good. The current value for Arran Chiefs is £7 10s a ton, and for King Edwards higher values are' ruling. The last week has seen greater activity in the seed markets, following on export business. Ryegrass is receiving more attention and prices for cocksfoot continue high. Some export business has been done with England. Sales oi> white Clover have -also been made for export overseas. The market remains firm. The market for cowgrass. and Montgomery clover is unchanged. The dogstail market is steady. Export business has -been transacted in this seed, and also in chewIngs fescue. After an advance in;the. price T)F‘broWn-top, this market has settled down again. The crop of this seed was a short one.

VEGETABLES AND FRUIT

WHOLESALE PRICES The market report for the week ending June 6 is as follows: Vegetables—Good supplies of all varieties nave come forward, and values are as follows:—Cauliflowers, 4s to 11s 6d a dozen; cabbages, 3s 6d to 11s a dozen; lettuce, Is to 4s a dozen: spinach, 2s 6d to 2s 9d a dozen; hothouse 3s 6d to 5s 4d a dozen; celery, Is 6d to 7s 6d a dozen; sprouts, sid per lb; peas. 4s to 4s 4d a peck: rhubarb, 7s to 8s a dozen; marrows, Is 6d to 5s 6d a dozen; potatoes, 4s to 4s 6d a sugar-bag; onions, 4s to 6s a sugar-bag; swedes, 2s 6d a sugar-bag;, beans, up to Is 3d per lb; cucumbers, 9d per lb Fruit—Apples: Good supplies of dessert and cooking varieties are coming forward, and values are a little firmer, compared with last week. Pears; Supplies of Winter Coles are available and realising up to Cs a three-quarter case. Tomatoes: Values for best quality hothouse were up to Is 6d per lb during the week. New Zealand passion fruit: Limited supplies coming forward and high prices ruling. New Zealand Poormans; A small consignment arrived vesterdav and realised 18s 6d a case. A shipment of, Australian navel oranges is expected at the beginning of next week.

BANK OF ENGLAND RECORD NOTE CIRCULATION (UFA) LONDON, June 5. The Bank of England note circulation has reached the record figure of £635,432,000. “The Times city editor says the continuing rise is a symptom emphasising the desirability of action to avoid a progressive Increase In industrial costs. RANGIORA HORSE FAIR There were 56 entries at the monthly horse fair at Rangiora yesterday. The top price was £24 for a six-year celdinfi. Good, sound draughts made from £8 to £l2. and aged draughts from £1 to £6. A hack sold at £ls 10s, and others brought from £1 to £B. Unbroken draughts ranged from £1 to £9. MINING REPORTS Grcv River.—The return for the week ended June 4. in 106 hours from 79.852 cubic yards, was X7IJ ounces. The total for the month of May. in 528 hours, was 391,922 cubic yards for 705 ounces Mount Moi'gan reports an estimated working surplus in the four weeks ended M Maori Gold— Return, 430z lOdwt for 102 hours. BREWERY’S PROPERTY SALES .Drewery’s report having completed the following house sales this week:— Account Mrs E. C. Smith, 5-roomed semi-bungalow, situated 19 Walton street, to Mrs L. Schwarz. ALSO Account Mr N. H. James, his charming 6-roomed bungalow, situated No. 31 Urunga avenue, Papanui, to Mrs E. C. Smith. ALSO , , , , Account of a client. s : roomed brick residence, situated 34 Trafalgar street. St. Albans, to Miss T; Henderson. ALSO in conjunction with other agents: Account of a client. 5-roomed residence. No. 31 Strickland street, to Mr D. Milne. Account Mrs M. J. Wilson, 5-roomed residence, 16 Scott street, to Mr J. A. F Drewery’s have waiting buyers for houses in all localities. For a quick sale, let Dfewery’s have particulars of your house. They will find you a buyer. DKEWERY’S AUCTION ROOMS, LTD., 425 Colombo street, Sydenham.

STOCK EXCHANGES

LOCAL BUSINESS NEGLIGIBLE The recorded turnover yesterday was again restricted to one sale. Markets were, steady at late rates and there was better inquiry for some stocks. Apart from vestibule business the following transaction was recorded:— Sale Reported: Listed Stock —£300 Auckland Gas 5 per cent. Perpetual, £95 15s. Markets Generally Firmer New Zealand Government 3i per cent, stock and bonds, due 1953-57, were firmer with buyers at £lOl 10s. A parcel of Auckland Gas. 5 per cent. Perpetual debenture stock, changed hands at £95 15s. Unsupported sellers of National Bank of New Zealand reduced their limits to 34s 9d. Buyers of New Zealand Refrigerating (£1 paid) moved up to 16s 9d, but sellers were reticent. Electrolytic Zinc,, which yesterday announced a new issue at par on the basis of 16 for 104 held, were much stronger, with buyers of the ordinary at 53s 6d. and of the preference at 565. Woolworths Properties were firmer on buyers' offers, 24s 7d, Buyers of Broken Hill South moved up to 22s 6d, but sellers were reticent Buyers’ offers for Arahura and Austral (N.Z.) revealed firmer markets. LATEST QUOTATIONS N.Z. Govt. Debentures.—3 p.c. Ins., -1941, b. £lOl 10s; 3i p.c. Ins., 1953-57, b. £lOl 10s, s. £lO2 ss; 31 p.c. Bonds, 1953-57, b. £lOl 10s; 31 p.c. Ins., 22/5/60, b, £IOO 10s; 33 p.c. Ins. 1941, b. £101; 4 p.c. Ins., 1943. b. £101; 4 p.c. Ins., 1949. b. £lO3 2s 6d; 4 p.c. Ins,, 1946, b, £lO2 ss. s. £103; 4 p.c. Ins., 1955, b. £lO6 ss; 4 p.c. Bonds, 1946, b, £103; Rural Bonds, 5 p.c., 15/9/47, b. £102; War Loan, 1/10/53, b. £B2 2s ,6d, s. £B3 10s. Other Debentures.—Booth, Macdonald, 5 p.c,, 1/6/47, b. £76; N.Z. Refrig,, 4f p.c,, 1/8/45, s. £102; Timaru Gas, 4 p.c., 1/11/45, £B7 10s. Banks.—Australasia, b. £8 7s, s. £8 10s; Comm, of Australia, s. 14s Id; Comm, of Australia (pref,), b. £8 18s; Natl, of New Zealand, s. £1 14s 9d; New South Wales, s. .£2B; New Zealand (ex div.), s. £1 16s 9d; Union of Australia, s, £6 17s 6d. Insurance.—National, b. 18s 3d; South British, b. £2 11s 6d, s. £2 12s Gd; Standard, b. £3; Loan and Agency.—Dalgety and Co„ b. £0: Christchurch Building, b. £l6 ss; Goldsbrough, Mort. (cum div.) s. £1 ss; Mutual .Benefit, b. £l4;. Natl. Mortgage A (cum div.), s £1 14s Gd; N.Z. Guarantee Corpn. s. 2s 9d; N.Z. Loan and Mercantile (ord. stock), b. £26 10s; Permanent Investment, b. £9 15s; United Building, b. £1 0s 9d. Shipping.—Huddart-Parkcr. >b. £2 ss. s. £2 7s Gd; Huddart-Parkcr (pref.), b. £1 6s; Devonport Ferry (cum div.), b. £1 2s. Frozen Meat.—Canterbury, b. £9 ss; Canterbury (pref.), b. £6 10s; N.Z. Rcfrig (£1 pd.). b. 16s 9d; N.Z. Refrig. (10s pd.). b. 7s Id; North Canterbury Freez, (pref.) s. IBs. Woollens.—Bonds Hosiery, b. £1 ss: Bruce, b. £1 0s 9d; Felt and Textiles, b. £1 18s Gd, s, £2 2s 9d; Kaiapoi (17s pd.), b. 15s 3d; Kaiapoi (7s pd.), s. 5s 3d; Oamaru, b. 19s 4d; Timaru, s. 14s 8d; Wellington (pref.), b. £6 15s. Coal.—Westport, s. £1 3s 6d; WcstportStockton, b, 2s 3d, s. 2s 8d; WestportStockton (pref.), b. 6s Id, s. 7s. * Gas.—Christchurch, b, £1 Is, s. £1 Is Gd; Wellington, s. £1 10s 9d. Breweries.—New Zealand (ex div.), b. £1 11s; Swan, b. £1 3s. Miscellaneous.—Australian Consolidated Indus., b. £2 2s Gd; Aust. Iron and Steel (pref.), b. £1 6s; Beath and Co., b. 14s 6d; Begg and Co., b. £l Is; Booth; Macdonald (pref.), s. 6s Gd; British Tobacco (ex div.), b. £2 4s. s. £2 7s; Broken Hill Pty„ b. £2 2s, s. £2 2s sd; Broken Hill Pty. (new. 5s pd.), b. £1 4s, s. £1 Cs 6d; Denhard Bakeries (ord.), s. 11s 3d; Dominion Builders, b. ss, s. 6s; Dominion Fertiliser, s. £1 6s; Donaghy Rope, b. £2 10s Gd; D.I.C. (10s pd.). b.< 13s 9d; D.I.C. (pref.), b, £1 3s 9d; Dunlop Rubber, b. £1 Is 3d, s. £1 2s; Electro. Zinc, b. £2 13s 6d; Electro. Zinc (pref.), s. £3 2s Gd; G. J. Coles, b. £3, s. £3 2s 6d; Greater Crystal, b. 13s; General Industries, b. 17s;. Hay’s, Ltd., b. £1 6s; Hay’s, Ltd. (contr.), b. £1 Is; Herald and Weekly, b. £2 10s; Howard Smith, b. 19s 9d, s. £1 2s; 1.C.0. (Aust. and N.Z.) (pref.), b. £1 3s 4d; Masonite, b. £1 ss; Milburn Lime, s. £1 18s 6d; M.K. Manufacturers, b. 5s 3d. s. 5s 9d: MacdufTs, b. Bs 9d; MaCduffs (pref.), s. 10s 3d; N.Z. Drug Co., b. £3 16s; N.Z. Drug Co. (£t pd.). b. £2 9s, s. £2 12s Gd; N.Z. Farmers’ Co-op. (A pref.), b. £1 I3s, s. £1 19s; N.Z., Farmers’ Co-op. (B pref.). b, £1; N.Z. Farmers' Coop. (4i p.c. Stock,. 1950), b. £80; N.Z, Farmers' Co-op. (4] p.c. Stock. 1955), s. £B2; N.Z. Farmers’ Co-op, (4J p.c. Stock, 20/2/51), s. £B2; N.Z. Farmers’ Co-op (4J p.c. Stock. 15/7/51), s. £B2; N.Z. Farmers’ Co-op. (41 p.c. Stock, 27/5/49), s. £B2; N.Z Newspapers, b. £1 9s, s. £1 10s; Northern Roller Milling, b. £1 0s 3d; Prestige (N.Z.) (pref.), s. £1 Is 3d; Quill, Morris .(1936), s. £1; Radio (1936), b. 13s; Sclfridges (A’asia), b. 16s 6d; Tingey, R. and E. (pf). b. 19s lid; Urlwins (pref.). b. £1 2s Gd: Whitcombe and Tombs, Ltd., b. £3 ss, s £3 10s- Wilcox, Mofflin, b. 8s Id. s 8s 8d; Wilson’s Cement (cum div.), b. 18s lOd, s 19s 3d; Woolworths (Sydney) (ord.), s. 16s 3d; Woolworths (N.Z.) (cum div.), b. 12s 10(1: Woolworths (N.Z.) (pref,), b. £1 16s; Woolworths Properties (cum div.). £1 4s 7d. Overseas Listing.—Woolworths (S.A.), s. 16s. „ „ Australian Mining.—Broken Hill 1 South, b. £1 2s Gd; Mount Morgan, b. 8s lOd, s. 9s 4d; New Broken Hill, b. 11s; Wellington Alluvials. b. 3s 6d. N.Z. Mining.—Arahura, b. £1 3s 9d: Austral (N.Z.). b. £1 3s 6d. s. £1 7s Gd; Big River, s. Is Id; Barrytown, b. 8s; Clutha River, b. 9d. s. Is lOd; Grey River, s. 18s: Maori Gold, b. 3d. s. sd; Moonlight Goldfields, b. 2d. s. 4d; New River, b. 21d. s. 4Jd; Mining House Concessions, s. 3d; Waihi Invest., b. 3s; Worksop Extend., s 3jd. Unofficial List.—Amalgamated Batteries, s. 14s; Assoc. Gold Dig. (12s pd.), b. 10s Gd, s. 14s; Assoc. Mot. Pet. (pref.), b. £1 4s 3d; Aust. Mot. Pet., b. 9s; British Standard Portland Cement (5s pd.), b, 9d, s. 2s 6d; Blackball Creek (cum div.), s. lOd: British Developments, s. 16s: Christchurch Press, s. £8; Lange’s Mobile Gas, b. is: Reece, Ltd., E. (pref.), b. 3s 3d; R.U.R (N.Z.), s. £3 10s; Una Hill. b. Hid, s. Is 6d; Slab Hut (4s pd.), b. 3s Bd, s. 4s 2d; Square Pictures, s. £1 ss; Urlwin’s, b. £2 2s Gd; Westland Breweries, s. £1 10s. AUCKLAND Sales—4 p.c. Gov.t. Stock, 15/3/40-43, £lOl os; Auckland Gas (Perp.) Stock, £95 10s; N.Z. Insurance, 03s; National Insurance, IBs Sd ;2): South British, 52s (2): Leyland, O’Brien, 15s 3d; Brbken Hill Pty., 42s 3d; N.Z. Drug, 775; Union Oil, 2os 6d; Woolworths (Syd.). 16s; Woolworths Holdings (S.A.), 15s 2d; Emperor, 11s, WELLINGTON Sales—4 p.c. Govt. Stock, 1940-43, £lol ss; Leyland, O’Brien Timber. 15s; Dominion Breweries. 28s 9d; Broken Hill Pty., 42s 3d (2); South British Insurance, 525. Unofficial List—J. J. Niven, 8s 6d (2). DUNEDIN Sales—Bank of N.Z.. 36s Gd; P. and O. Stock, 25s 6d; N.Z. Drugs, 775; N.Z. Paper Mills, 30s Gd; Emperor, 11s; Mt. Morgan, 9s Id. SYDNEY Trading on the Sydney-Stock Exchange yesterday was restricted because of the uncertainty of the overseas situation. Afternoon Sales.—Commercial Banking (Sydney), £l7 15s; National Bank (£j paid), £5 14s; Consolid. Indust., 43s 6d; Bonds Industries, 27s 3d; British Tobacco (ex div.), 425; Morris Hedstrom, 20s 3d; Selfrldgcs, 18s: Wilcox Mofflin (N.Z. delivery). 8s lid; Kuala Kampar, 15s 6d; Rawang, 8s 2d; Emperor, 9s 9d. MELBOURNE Sales Yesterday.—Comm. Bank of Aust,, 13s; Dalgety, £5 10s; Imperial Chemicals (pref.), 23s 4d; Electrolytic Zinc (pref.), 565. PROPERTY SALES , MESSRS FORD and HADFIELD, LTD., Real &tate Agents and Auctioneers, 131-133 Worcester -street, report having sold, on behalf of Messrs Campbell Bros., a fine block of land comprising one- acre, together with cottages, with frontages to Acton and Antigua streets, City; also, on behalf of Mr Talbot, his five-roomed bungalow, Carlton Mill road, Merivale, to Mr Reynolds (after the auction). FORD and HADFIELD, LTD.. For' Real Estate. —6 PASSENGERS BY AIR Yesterday To Wellington:' Miss D. James. Mr P. C. pulley To Auckland: Warrant-Officer W. H. Palmer. „ , _ ~ . . To Dunedin: Messrs S. J. Bell and A. C. Gordon. _ From Wellington: Mr C. S. Thompson, Mrs M. C. McTlgue. Mrs McEvedy. From Palmerston North: Mrs H. J. BrakW Fri>m Auckland: Mr R. Bullen. From Dunedin—Messrs W. J. Macartney, G. H. Christie, R. M. Ballantyi)*,