Farm and Commercial Section

Dominion, Volume 21, Issue 261, 4 August 1928, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. Dundas Street, Seatoun, Native Sauce Factory.—Sale of stock-in-trade and fittings, 2 p.m. (C. W. Price and Co.) ' MONDAY. Fat stock sale, Masterton, 12 noon (N.Z. Farmers’ Co-op.) 5 Ellice Street.—Fire sale, 11 B.m. (Ramsey Wilson and Co.) THE PRODUCE MARKETS *>• BUTTER AND CHEESE Messrs. Dalgety and Co., Ltd., hare received the following cable message from their London house, dated August 2 (last week’s prices are shown in parentheses):— Butter.-—Market quiet, prices difficult to maintain. Danish, 180 s. to 182 s. (180 s. to 182 s.); New Zealand, finest salted, ISOs, to 184 s. (180 s. to 184 s.); Australian, finest salted, 168 s. to 1745. (170 s. to 1745.); Australian, G.A.Q., 158 s. to 1625. (15Ss. to 1625.). Cheese.—Market quiet and steady. New Zealand cheese, white, 110 s. to 112 s. (100 s. to 110 s.); New Zealand cheese, coloured, 109 s. to Ills. (109 s. to 110 s.): spot price for Canadian white and coloured, 109 s. to 110 s. (109 s. to 110 s.); c.i.f. price for Canadian, 109 s. (106 s. to 1075.). Mr. G. A. Mills has receieved the following cabled advice from Messrs. A. J. Mills and C 0.,, Ltd., London, under date August ” Butter.—The butter market is steady and there is an improvement In the tone of the market. New Zealand butter is quoted at 1825.-184 s„ Danish butter 180 s- . Irish butter 1745.-1765. Cheese.—This market is firm and New Zealand cheese is quoted at 110s.-llls., Canadian cheese 10Ss.-110s., and the c.i.f. price is 109 s. BRADFORD TOPS MARKET (Australian Press Assn.—United Service.) London,, August 2. Bradford reports no business in tops, with quotations unchanged. Sixty-fours quality, •52*d.: 60's. 501 d.: 56's, 41d; 50’s, 31Jd.; 4G’s, 26d.; 40's, 25Jd. FROZEN MEAT Messrs. Dalgety and Co., Ltd., have received the following cable message, dated August 2, from their London house :— Quotations unchanged except for beef, which is l-Bd. to id. lower. Messrs. M. A. Eliott, Ltd., Palmerston North, have received cable advice of the following Smithfield prices for th? week ended August 3. These prices are on the ■'delivered” basis, that is, including storage charges, cartage, etc.: —Best North Island prime lambs, under 361 b. 10fd„ 361 b. to 421 b. hid., 421 b. to 50lb. iljd.; ordinary North Island lambs, under 421 b. 93d., second quality under 421 b. 9 7-8(1.; best North Island ■wethers and/or maiden ewes, 481 b. to 5611>.. 561 b. to Glib. 7 1-Sd„ 611 b. to 721 b.. over 721 b., Cqd.; ordinary North Island wethers and/or maiden ewes. 481 b. to 561 b., 561 b. to 611 b.. 7(1., 611 b. to 721 b„ over 721 b. 6 5-8(1.;. North Island ewes, under 641 b. 5 5-Sd., 641 b. to 721 b., over 721 b. 5 3-8(1, Remarks: Lamb, no change; wethers, no change; ewes, 1-Sd. higher. HIDE AND SHEEPSKIN SALE WELLINGTON PRICES. The fortnightly, sales of sheepskins, hides, etc., were held yesterday with a very good attendance of buyers. The brokers report having experienced good competition all round, especially bn dry lots of sheepskins. These sold at fully up to last sale's level of values. Salted lots were somewhat easier and competition not so keen. Hides showed a decline in cows of about id. per lb.; ox, especially good weights, being par to (d. lower. Calf was in strong request at somewhat better figures. Tallow met a good inqury at about, par with last sale. 'Piie range of prices is as under:— Dry Sheepskins.—Halfbred, 16}d.; fine crossbred. 16jd. to 17Jd.; medium crossbred. 14»d. to 16.(d.; coarse crossbred, 13d. to 14Ad.; half wools. IOJd. to MJd.; quarter wools. 10(1. to 13id.; pelts, 6)d. to 12|d. Halted Skins.—Pelts, Is. to 3s. fid.; quarter wools, Bs. to Bs. 2d.; three-quarter wools, Bls. fid. to Ils. 9d.; half wools, Bs. Bld. to 9s. 9(1.; full wools, Us. 6d. to 13s. 2d.; extra large. 13s. Bld. to 15s. 2d.; lambs, os. to 9s. 2d. Hides.—Ox. 33 to 441 b., lid. to 11 3-Sd.; 45 to 521 b., JOJtl. to lid.; 53 to 591 b., 11 3-Sd.; fit) to 6911>., lOd. to 11 7-Bd.: 701 b. and over. Ud. to 11 7-Sd. cow, 33 to 391 b., Hid. to 12 1-Sd.; 40 to 4Slb„ 10 l-Bd. to 11 l-Bd.; 491 b. and over, 10 3-Bd. to 10 5-Bd.; kip, 25 to 321 b.. 11 3-Bd. to 12(1.; 17 to 241 b„ 12Jd. to 12 5-Bd.; yearling, 11 to 161 b., 12ijd. to 12 7-Bd.; calf, 9 to 10Ib„ 123 d.; 6 to Sib., 17 5-8(1. to IS 1-Sd.; 1 to 51b., 15»d. to 17 l-Bd. Tallow.—ln casks, 28s. to 295.; In tins, etc., 225. 6d. to 275. Otl. Sundries.—Cow tails, 19{d. to 20d.: horse hair, 21d. to 23Jd.

CANTERBURY PRODUCE MARKET — ( By Telegraph.—Press Association. Christchurch, August 3. Potatoes are a ehade brighter. The Waipiata, which sailed yesterday, did not take the quantity north that was expected from southern ports. The cargo was 4000 sacks, and Lyttelton’s quota was practically the same. The Kaponga is due to sail early in the week, but her cargo is unlikely to be heavy. With the clearing of the tubers at Lyttelton "prompts” are a shade brighter and Augusts have advanced 2s. Gd. to £0 ss. f.0.b.. s.i.: August-Sdptembcr are ranging about £0 7s. Gd. A few lots were bought from farmers earlier in the week at £4 155., but there* are few sellers now at under £5. Offers of wheat have been increasing. About the limit of offers is ss. 7d. on trucks, but holders of best quality are not showing nny haste to accept' this figure. Most of the business that is being done is in No. 2 quality at from ss. 3d. to ss. 5(1. Fowl wheat is selling at ss. Gd. f.o.b. for August and also later delivery. Notwithstanding that the price is cheaper than , for some years, there is not much life in the demand. Oats are slack. A Gartons are quoted at 3s. lid. f.o.b. s.i.. and B’s at 3s. Gd.. the equivalent <sf 3s. 3d. and 2s. lOld. on trucks. There is no inquiry. Chaff is also meeting with a lifeless demand. About £3 12s. Gd. is the value per ton on trucks at ordinary stations. The market for small seeds shows no change, but j practically all classes are firm.

DUNEDIN PRODUCE

MARKET

By Telegraph.—Press Association. Dunedin, August 3.

There is nothing fresh to report in the milling wheat market. Business has been very ouiet for a long period, aud until millers work down their present stocks it is not expected that there will be auv improvement. A few lines have been on offer and prices appear to be lower in Dunedin than in other places. Sales of Tuscan have been reported from the Oaiuaru district at ss. 9d., sacks extra, on trucks at country sidings, but in Dunedin those millers who are inclined to pick up small lots rill not pay more than ss. 7d., sacks extra, on trucks. Hunters are ouoted at ss. lOd. to 6s. lelvet is very ‘scarce, and few lines are on offer. The demand for fowl wheat remains quiet with a few sales going through. Fairly large quantities are still being lielil in stores and the highest price obtainable Is ss. 9d. per bushel, sacks extra, for the best quality. . , . . There have been more inquiries for oats during the past few days. These have been received from merchants who are covering forward sales. Little demand, however, is being experienced for consumptive purposes, and owing to the anxiety of holders to quit the market shows no alteration, even with the abovementioned inquiries. A Gartons are quoted at 3s. Ud., f.0.b., s.i., for August delivery, and B's at 3s. 7d. The stocks of oats held in stores are still v ry plentiful, and at present it is difficult to know where an outlet can be found. Millers have been buying odd lines, but they require heavy Gartons, and these are now in small compass. For .oats of this description, up to 3s. 7d. per bushel, sacks extra ex store, has been obtained. For small lots of farmers’ oats coming on . the ; market 3s. 3d. on trucks is being offered for A’s and 2s. lOd. for B’s, sacks extra. Local prices for potatoes are being ruled to a great extent by those obtaining in Canterbury. The present quotation from Canterbury is £5 10s. on trucks, which is equivalent to £6 ss. per ton, sacks extra, delivered in Dunedin. This is now the market value here, and sales of any consignments coming in are being made at this figure. The mild season has caused the tubers to sprout earlier than usual, and this will mean that holders will be inclined to quit their holdings as quickly as possible.. Consignments of chaff are arriving fairly freely, and owing to the small consumptive sales, are hard to make at £5 10s. per ton, sacks extra, for best quality. Most of the consignments, however, are going into store, as holders are hoping that the demand will improve. Quotations for Canterbury chaff are being received on a lower basis, and it is expected that these will have a' weakening effect on local values. Medium and poor quality chaff is also in over-supply.-Mild weather is affecting the demand for feed oats. . - All seed markets are firm but quiet. There are indications that the spring demand for seeds will commence earlier this season, nnd a good sowing out is expected Akaroa cocksfoot is very firm, and Is. 2d. per lb. on trucks Christchurch is asked in the wholesale market. Crested dogstail Is also firm. The quantity of ryegrass available is much smaller than has been the ease for some years, and this position is keeping the prices of ryegrass very firm.

LIVE STOCK SALES

FEILDJNG GOOD PRICES REALISED. Dominion Special Service. I’cllding, August 3. Values for all classes of sheep were a shade higher at to-day’s sale compared with recent sales, store sheep showing firmer demand. Fat lambs were in small supply at 28s. Bid., while heavy ewes realised from 345. 2d. to 355., with lighter sorts from 295. 3d. to 335. -Id. Prime wethers made up to 455. and others from 38s. to 425. Fat b.f. 2-tootlis-experienced a good demand at from 3fis. 9d. to 40s. Bidding for. store lines was fairly brisk, a good pen of 4 and 5-year ewes in lamb to Southdown rams selling up to 425., other pens being priced lower ffr. from 30s. 2d. to 31s. Four and five-year ewes in lamb to stud Romney rams realised high prices of 475. and 485., while ewe lambs were also in good demand at 38s. 4d.. with smaller sorts at from 335. 9d. to 365. fid. Mixed age ewes r.w. Southdown rams brought, 225. 7(1.. and wether lambs were priced at 235.' 6(1., and rough black faced lambs at 20s. Bd. Dairy cattle came forward in largo numbers, and considering the supply the demand was good. Spring heifers sold at prices ranging from £7 10s.. £lO to £l4, and spring cows from £8 10s. to £ll. Heifers in profit wore not fngreat demand, prices ranging from £7 ss. to £lO. A small yarding of store stock sold well, run cows bringing from £3 12s. 6d. to £4 17s. 6d.. and rough-finished 2-year emptv heifers from £4 10s. to £6. Yearling ’and 18-month Jersey heifers brought from £4 to £5 Ils. A small entry of fat stock cleared nt late rates, cows making from £7 to £B. and prime heifers up to £l2 10s. CLEARING SALE AT MARTINBOROUGH. Messrs. Loviii and Co., Ltd., and the Walrarapa Farmers’ Co-op. Association, Ltd., in conjunction, report as follows on a clearing sale on account of Mr. A. Welch. Kopjes, Martinborough:— "The herd of dairy cows were in splendid 'condition and attracted a fair attendance of buyers from all parts of the district. Factory returns from the Herd Testing Association, together with calving dates, were supplied at the sale, and buyers bid with every confidence. Best sorts made £l3 to £l5 10s., these mostly being Holstein and Jersey cross; medium sorts, £lO, £lO 10s„ £ll 10s., £l2, £l2 55., to £l2 155.: later calvers, £B, £8 10s., £9, £9 Bls., to £9 155.; one three-quarter cow, £5 10s. The herd made the satisfactory average of £ll 10s. per head, which is about the best up to the present time in the district.” TAIHAPE. Messrs. Dalgety and Co., Ltd., Palmerston North, report holding their Taihape sale on Wednesday', when a good yarding of sheep and a fair yarding of cattle came forward which sold as follows:—Sheep: Small wether hoggets. 205.; very fair wether hoggets, 235. to 235. *6d.; 2-tooth wethers, 335. 7d.; 4-6 tooth f. and f. „wethers, 355.; ewe hoggets, 305.; small fat ewes, 275.; m.a. ewes, r.w. S.D. and Rom. rams. 335. Cattle: Yearling dairy heifers, 31s. to £2 135.: small 2-year steers, £4; small 2vear heifers, £4 Is.: empty cows, £3 65.: fat cows, £7 12s. 6(1.. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales were reported of 54 per eent. Stock (1936) at £lOl 2s. 6d. and Gear Meat shares at 40s. 6d. Government stocks . and bonds were steady. The 4} per cents, were wanted at £OB 10s., the 5J per cents, at £99, aud the 5j per cents, at 101. ■ New Zealand Breweries, 10. per cent, bonds were in demand at 235. lid. Bank shares were in good demand at full market rates. There were buyers of Bank of Australasia at £l4 17s. 6(1., Australian Bank of Commerce at 335. 6d., National Bank of New "-'aland at £7 3s. 6d National Bank of Australasia, £5 paid, at £9 ss. 6(1., Bank of New Zealand at 595. 10d., Bank of New Zealand D shares at 265. 6d., and Union Bank, local register at £l5, and Melbourne register nt £l5 Is. Sellers quoted 050 ss. for Bank of New South Wales. There was a fair demand for financial shares,- with buyers of Goldsbrough Mort, at 50s. 6(1., New Zealand Guarantee Cornoration preference at 215.. New Zealand Loan and Mercantile at £lO7. Wellington Investment at 10s. Bd., and Wellington Deposit at 9s. 4d. Gisborne Gas were steady at 9s. 6d. New Zealand Insurance were firm at 425. nd cum. dividend, and South British Insurance at 60s. 3d. Gear Meat were in demand at 40s. 3d., and New Zealand Refrigcratlng- 2OS. paid at ISs. 3d., and 10s. P! Huddart Parker were firm nt 495. Id. and P- and O. Deferred Stock at £234. Kaianoi Woollen preference were wanted at 14s 3(1., and Wellington Woollen, ordinary, at £6 Bs. There [were buyers of Westport—Stockton ordinary at 3s. 3'L, New Zealand Breweries at 465. 3d., British Tobacco at 425.-3 d., Burns Philp and Co.

at 455., Electrolytic Zinc ordinary at 325. 6d. and preference at 335. 3d. New Zealand Paper Mills at 165., Sharland and Co. at 19s. 9d., and Wilson’s Cement at 3Ss. 3d. Yesterday’s buying aud selling quotations were as under; —

SALES IN OTHER CENTRES By Telegraph.—Press Association. Auckland, August 3. Sales.—lnscribed stock. 1936, 54 per cent £lOl 2s. 6d.; Auckland Harbour Board, 1935, 5 per cent., £96; Commercial Bank of Australia, 30s. lOd.; National Insurance, 165.; Taupiri Coal. 265. 9(1.; Colonial Sugar. £5B 10s.; Fullers Pictures, 205.; Wilson's Cement, 38s. Christchurch, August 3. Sales. —Commercial. Bank of Australia (ex div.), 305.; Bank of New Zealand, 605.; Christchurch Gas (10s. pd. ex div.), Ils. 9d., Ils. 10d.; New Zealand Breweries, 48s. 3d.: Tooth's Brewery, 455. 4d.; Mahakipawa, 3s. 3d. Sales Reported.—New Zealand Government 5} per cent, bonds, 1933, £lOl 55.; New Zealand Breweries (bonds). 235. 11(1.; English. Scottish and Australian Bank, £8 10s.; New Zealand Breweries. 475. 3d.. 475. 6(1. (2 pels.) : Colonial Sugars, £5B 7s. Od.; National Insurance. 16s. Dunedin. August 3. Sales Reported.—National Insurance, J6s.; Bank of New Zealand, 60s.

COMPANY ACTIVITIES RECENT REGISTRATIONS This week's registrations include two more private companies. The I'. C. Walt Construction Company, Ltd., of 250 Wakefield Street, Wellington, has been formed to take over the business of P. C. Watt as Builders, contractors, ami constructional engineers. The capital is £12,000, in £1 snares, subscribed as follows: —Philip Chetwoode Watt, builder, Wellington, 10,375; William Robert 'Belize, builder, Wellington, 500; It. H. Johnston, builder, Wellington. 125; C. M. Watt, architect's assistant, Wellington, 500; L. P. Watt, student, Wellington, 500. O. T. Evans and Company, Ltd., of 90 Wakefield Street, is a private company formed to carry on the business of O. T. Evans and Co., indent agents, of 50 Victoria Street. The capital is £4OOO, in £1 shares, and the subscribers are Owen Thomas Evans 3500 and Janet Evans 500. Other recent registrations are:— Prudential Finance Co., Ltd., New Plymouth. Capital: £lO.OOO, into 2000 shares of £5 each. Subscribers: New Plymouth —J. 11. Shcat. J. Shepjierd, V. L. Garth, It. Scott, J. Dalrymple, E. Dingle, and N. B. Bellringer, 1 share each. Objects: To carry on business, of a mortgage, loan, and finance company in all its branches, etc. Wanganui Mild Cure Bacon C 0.,, Wanganui. Capital: £5OOO. into 50 shares of £lOO each. Subscribers: Wanganui—ll. K. Hansel 1, F. E. Hansel 49. Objects: To carry on the business of dealers in pigs, ham, and bacon ettrers, pork butchers, and general incidental. NEWTON KING, LTD. ANNUAL MEETING OF SHAREHOLDERS The eighth annual meeting of shareholders of Newton King, Limited, was held at the company’s offices, New Plymouth, last week. The chairman of directors, Mr. Truby King, presided over an attendance of about 80 shareholders. The meeting was not open to the Press, and the following report has been supplied for publication:— In moving the adoption of the annual report, the chairman referred to the proposals for reorganisation and recapitalisation which had been foreshadowed in the directors’ report issued with the bal-ance-sheet. He stated that he felt certain that no shareholder would disagree with these proposals, for all recognised that they were necessary for the future well-being of the company. Mr. King said ti><it he and the directors generally were emphatically of opinion that if the proper steps werq taken to meet the present position there was no reason why, with reasonably good seasons, the business should not be put on a profit-earning basis. He said that Messrs. Clarke, Menzies, Griffin and Ross, of Wellington, the firm of accountants chosen to advise the directors and the shareholders, was one of the highest standing and greatest experience in the profession. When the directors again met shareholders at the special meeting it was intended to call, they, hoped to be able, with the advice of the expert accountants, to bring forward a sound scheme of reorganisation. The motion was seconded by Mr. H. E. Abraham, who said that prospects in the immediate future were exceedingly bright, and t looked as though New Zealand were about to experience a few good years to compensate for the lean ones just left behind. Various directors and the general manager (Mr. S. E. Shaw) supported this view and informed shareholders that the company’s business during the last six months had been exceedingly active. It was gratifying to be able to state, also, that the farming community and general public throughout the province were affording the company a full measure of support. The report and balance-sheet were adopted after a full discussion by shareholders. The meeting entirely endorsed the directors’ action in proposing a reorganisation and employing a capable firm of accountants to assist. The retiring auditor (Mr. Hugh Baily) did not offer himself for re-election, and Messrs. Clarke. .Menzies, Griffin and Ross were appointed in his stead. There were no nominations received for the position of director, and Messrs. Ashton, Healy, King. Salmon and Shaw, who retired by rotation, were all re-elected for a further term. G. STEWART CRAIG, LTD. The annual meeting of G. Stewart Craig, Ltd., was held in Auckland on Wednesday; Mr. G. S. Craig presiding. The chairman reported that the company had had a very satisfactory year, and was now definitely established as a leading firm of company brokers. In the past year the total amount of capital and debenture issues successfully handled had been £185,000. Mr. Craig mentioned that the grand total of the business transacted in association with the present company and its predecessors during the last four years now approached £600.000. This had been possible only by its connections with active agents throughout New Zealand. It was satisfactory to note that nearly 90 per cent, of the investments handled had been returning interest and dividends to their clients The company lad two large issues in view, and it was anticipated that the coming year would see the business considerably extended.

HALF-YEAR’S IMPORTS There has been a tremendous decline in the imports into New Zealand during the past three years. Excluding specie, the figures for the first six months of each of four years compare as under: — Half-year to June 30. £ 1925 25,015,28.1 1926 24.715,080 1927 ... 22,200,704 1928 20,902,526 Compared with last year, there was a decrease of £1,298,278, but compared with 1925 the shrinkage amounts to £4,112.759. The imports are probably as low as they could reasonable be, and there should now follow a steady increase. Taking the aggregates of the different groups, the position is as under:— 1928 1927 £ £ Soft goods 4,262,751 4,355,238 Hardware 2,776.029 3,481,849 Foodstuffs 1,570,563 1,674,711 Beverages 901,717 872,53 a. Miscellaneous 0,957,853 7,652,085 Other Goods 4.433,613 4,164,286 20,902,526 22,200,704 Compared with 1925, the decrease in most lines was moderate, except in the miscellaneous section, which showed a dron of £2,337,415. The number of motor vehicles imported during the first half of this year was 6313, against 6857 in the first half of last, year, and 13,499 in the first six months of 1926; thus the imports of motor vehicles have declined by over 50 per cent, in two years. Comparing values, the figures are £984,844, against £1,071,817 last year and £2,188,181 iu 1926. Although there was au increase in the quantity of motor-spirit imported, there was a drop in the value as compared with last year. The quantity imported was 28,305,341 gallons, against 23.485.051. and the value £860,874, against £1,143,510. The import of whisky showed a decline, both in quantity and in value, the six months’ figures being 190,339 gallons, against 247,944 gallons, and the value £217,859, against £287,399. Tea, on the other hand, showed increases in both volume and value, the imports totalling 5,953,8811 b., against 5.172,2521 b., aud the •value £494,961, against £399,545. It is pleasing to note a substantial increase in dairy machinery, the value of the imports for the six mouths being £85,561, against £43,507; there was a decline in agricultural machinery, the figures being £59.370, against £72,445, and in electrical machinery £871,542, against £1,123.962. Tobacco imports increased from 1.597,2211 b. to 1.647.7921 b., but cigarettes declined from 752,6571 b. .to 665,9891 b. Although there was an increase in the quantity of tobacco imported, there was a decrease in value from £451,308 to £362,618. FOREIGN ITEMS WHEAT AND OTHER PRODUCE. (Australian Press xvssn. —United Service.) London, August 2. Wheat: Cargoes, quiet tone, occasionally 3d. per quarter easier in sympathy with American prices. Parcels steadier, influenced by Liverpool futures, moderate business at an advance of 3d. Parcels by the Balranald brought 465. 6d. net, ex Ferndale 465. 6d., 465. 7*d. net. Liverpool futures: October 9s. 6(1. per cental, December 9s. 8 1-Sd., and March 9s. 9 7-Sd. Spot, trade dull, tending to easier. Australian, ex ship 495. 6d. Flour, dull. Australian, .ex store, 3os. 6(1., 365. 6d. Oats and peas, dull. Beans, firmer. (Australian Press Association.) Chicago, August 2. Wheat futures: September. 1 dollar 19’ cents per bushel; December, 1 dollar 241-8 cents; March, 1 dollar 241-S cents. Melbourne. August 3. Wheat parcels. ss. 2d.: flour, £l2 2s. 6(1. to £l2 12s 6d.; bran. £6 10s.; pollard, £7 10s. Oats, milling 3s. 6d. to 3s. Sd., feed 3s. 3d. Barley. English malting ss. 4d„ Cape 4s. Chaff is quiet at. £5 to £6. Potatoes are steadier at £2 15s. to £3 10s. Butter is easier at Is. 81d. Cheese is steady at 10(1. to IOJd. At the sales hides declined by a farthing, except kips and stouts. CHARTERING OF WHEAT SHIPS. (Australian Press Assn.—United Service.) London. August 2. There is considerable activity in chartering wheat, ships for Attslralln. several fixlures having been made for December and January loadings. THE SUGAR MARKET. (Australian Press Assn. —United Service.) London, August 2. Sugar.—Granulated is 275. per cwt. Herr Licht: reports nine months beet sugar production as 4,292,817 tons. P. AND O. STOCK. London, August 2. P. and O. deferred stock; £235. LONDON STOCK EXCHANGE. (Australian Press Assn. —United Service.) London. August 2. Australian Mercantile Land and I'inancc (-1 p.c.), £76; City of Sydney (6 p.e., 193”) £lO2 155.: Dalgety and Co., shares, £l4 155.: Dalgety and Co. (4 p.e. debenture stock), £75 155.: Goldsbrough. Mort, and Co. (5 p.c. "B” debenture stock), LSI. EXCHANGE RATES. (Australian Press Assn.—United Service.) London, August 2. Foreign rates of exchange on August; 2, as compared with par rates, or as averaged first half of 1914, are as follow:— Aug. 2. July 30. Par.

LINSEED PRICE. The Department of Agriculture has received the following cablegram, dater August 2, from Messrs. Landale and Clark, Ltd., Calcutta, with reference to the linseed market:—We quote £l6 las. for linseed per ton net, c. and f. Sydney,, for immediate shipment. Market quiet.

Buyers. Sellers. N.Z. GOVT. LOANS— s. d. p. s. 1. 54 p.c. Ins. Stk., 1933 54 p.c. ditto, 1936 ... 101 3 0 101 3 0 5f p.c. ditto, 1941 ... 99 0 0 44 p.c. Bonds, 1941 .. 98 10 0 44 p.c. ditto, 1939 ... us 10 0 44 p.c. ditto, 1938 ... os 15 0 —. 5} p.c. ditto, 1933 ... : 01 0 0 54 p.c. ditto, 1936 ... 101 0 0 DEBENTURES— N.Z. Breweries (bonds) 1 11 1 4 > BANKS— 11 Australasia 17 6 —. Ditto (new issue, fully 11 16 paid) — 0 Australian Bank of Commerce 1 T3 6 1 1X 3 National of N.Z 1 c> G - National of Australasia (£5) New South Wales- ... 9 50 5 0 New Zealand — 19 10 — Ditto, long-term mortg. 1 fj o —- Union of Aust 15 0 0 lb 2 6 Ditto (Melbourne re15 gisteri 13 1 0 4 0 FINANCIAL— 11 Goldsbrougli, Mort .. '■ 10 6 o o N.Z. Guarantee Corn. (pref.) 1 1 0 — N.Z. Loan and Merc. Agency (ord.) .... Well. Invest.. T. & A. .07 0 0 — 0 10 8 — Well. Deposit & Mortg 0 J 4 — GAS— 6 Christchurch ........ —- 1 Gisborne 0 9 G •—■ INSURANCE— 1G National New Zealand o 9 0 South British 3 0 •—• MEAT PRESERVINGGear 0 3 2 1 0 N.Z. Refrigerat. (£1) 0 18 G — Ditto (10s.) 0 8 0 8 9 TRANSPORT— Huddart-Parker (ord.) 9 1 9 - G P. and O. def. stock.. -’34 0 0 —■ WOOLLEN— Kaiapol (pref.) 0 14 o Wellington (ord.) ... G 8 0 G 12 6 COAL— 11 Westport •— 1 0 Westport-Stock ton (ord.) 0 o 3 Waipa — 0 14 6 TIMBER— National —— 0 11 0 BREWERIES— G New Zealand o Staples and Co •— 16 6 MISCELLANEOUS— British Tobacco (Aust.), (ord.) 2 3 .—. Burns, Philp, and Co. 2 b 0 6 0 Electrolytic Zinc (ord.) i 12 3 Ditto (pref.) 1 13 14 0 Howard Smith (ord.) —— 1 8 9 N.Z. Express (ord.) .. —— 0 19 3 N.Z. Paper Mills' 0 16 0 Sharland & Co. (ord.) 0 19 9 0 3 Wilson's Cement .... 1 18 3 1 19 0

Brussels, belgas to 34.91 35 £1 31.90 Paris, francs to 124.07 £1 124.10 25.22} Stockholm, knr. to £1 - 18.15 18.15} 18.12 Oslo, knr. to £1 1S.20 18.19} 18.12 Copenhagen, knr. to £ 1 18.19 .18.195 18.12 Berlin, reichs20.35 20.345 20.43 Rome, lire to £1 92.81 92.82 92.46 Calcutta, pence to rupee 17 15-16 171 • 18 Yokohama, pence to yen 228 228 24 Hong-Kong, pence to dollar 24® 24 9-16 24 Montreal, dollars to £1 4.86 4.85 13-16 4.866 New- York, dollars to £1 ... 4.85 9-16 4.85 25-32 4.866 Amsterdam, florins to £1 12.08J 12.071 12.107 Batavia, florins to 12.10 12.09} 12.107 Prague, knr. to £1 163J 103g 24.02