DEMAND QUIETER

Evening Post, Volume CXXV, Issue 107, 9 May 1938, Page 12

DEMAND QUIETER

BUTTER IN LONDON

SPECULATORS WITHDRAW (By Telegraph—Press Assn.—Copyright.) LONDON, May 8. The price of butter fluctuated awkwardly during the past week. The demand has now quietened but prices should be maintained at around the present figure in view of the low New Zealand gradings and the reduction in Australian shipments. Every movement of the market, however, is being watched with considerable nervousness and speculators are almost entirely absent. . The .Primary Products Marketing Department advises the Dairy Board today- that the London New Zealand salt butter market closed firm at 128s to 129s per cwt, the same price as last week, and that the retail price of New Zealand butter was now Is 4d per lb. Danish, however, was selling retail at Is 3d per lb; but the wholesale spot price for Danish was 130s per cwt. Australian salt butter commanded 127s to 128s and Lithuanian 128s to 1295. Unsalted butter prices were: New Zealand, 130s per cwt; Australian, 128s to 1295; Dutch, 125s to 1275. The Imperial Economic Committee has amended the figures for stocks of all butters in store for the week ended April 30, 1938, and these should read 657,089 boxes. The New Zealand cheese market was reported as quiet, at 68s 6d for white and 69s for coloured, and Australian at 66s to 67s and 67s to 68s respectively. Canadian white and coloured cheese was selling, at 77s to 78s per cwt. The Bank of New South Wales is adv.ised by its London office by cable, May 7: —Butter, 129s 6d; cheese, white and coloured, o9s. PRICE AND RETURN Latest sales reported and made on the Stock Exchanges of the Dominion, with the highest prices and the approximate yields per cent, per annum to investors (all subject to appropriate taxes and exchanges whore operative), based on last year's distributions, and considering redemption and brokerage in the case of redeemable securities where dated, were as follows:— Highest Yield, price, p.c., p.a. £ s. d. £ s. d. Wellington. Inscr. Stock, 4 p.c., 15/2/43-46 a. 102 7 6 314 2 Nat. Bank of N.Z. o.s. 214 0 314 0 British Tobacco 2 8 0 4 34 G. J. Coles 4 0 7 4 13 1 N.Z. Farmers' Fertiliser 019 6 6 3 0 Woohvorths (rights) . 0 3 4% — Mount Lyell 160 — Auckland. Inscr. Stock, 4 p.c., 15/6/52-55 a. 104 5 0 314 S Bank of N.S.W 31 15 0 315 7 Huddart, Parker, pref. 1 8 0 4 5 8 Colonial Sugar 49 0 0 3 1 2 Reid Rubber 1 6 6 — Christchurch. CJich. Drainage, 4% p.c., 31/12/42 103 0 0 — Comm. Bank of Aust. 016 4 4 1 7 Nat. Bank of N.Z. o.s. 2.14 3 313 7 South Otago Freezing 5 9 0 411 8 N.Z. Farmers' Fertiliser 019 8 6 2 0 Woohvorths, Ltd 1 2 4 3 7 1 Woohvorths (rights) .0 3 5 — Mount Lyell 162 — Mount Morgan 0 8 6 — Dunedin. N.Z. Breweries 2 4 6 316 4 N.Z. Loan and Mere., ord ... 37 10 0 6 13 4 Woohvorths (rights) .0 3 5 — North Broken Hill .. 2 8 5 — a.—Market price includes accrued interest but not brokerage. o. —Free of English ificome tax. s. —Paid in sterling. RISE IN PRICE OF TIN (By Telegraph—Press Assn.—Copyright.) LONDON, May 8. Tin has been the feature of the base metals market, jumping sharply on the favourable outlook for the buffer'pool scheme. Statistics published by the International Tin Research and Development Council's Bulletin, The Hague Statistical Office, showed an appreciable decrease in world tin consumption in January, 1938. World visible stocks of tin decreased by 1659 tons during February, 1938, to 23,308 tons, compared with 24,967 tons at the end of January, 1938, and with 22,756 tons at the end of February, 1937. The ratio of stocks to the annual rate of consumption has decreased from 13.6 per cent, a year ago to 12 per cent, at the end of February, 1938. DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates today, on a New Zealand currency basis. They are subject to alteration without notice. U.S.A. Canadian. Dollars. Dollars. (Per £1 (Per £1 N.Z.) N.Z.) Selling— T.T 3.99 3-8 4.01 11-16 O.D 3.993 4.02 1-16 Buying— O.D 4.03 11-16 4.061-16 DIVIDENDS DUE. Sharland nnd Co.—interim, 2% p.c. May 10 Mosgiel Woollen — interim, 4 por centnntj tt y 13 Dental and Medical—s per cent, per annum jj ay ig Nemona Dredge—2d (free of income „ . la *>, May 16 E.y. and A. Bank — interim 314 per cent, (less English income tax) May IB Bycroft, Ltd.—flnal, i per cent May 17 National Insurance—interim, 4d per share May 17 Younghusband and Co.—flnal 5 per cent., making 10 per cent, per annum M a y 17 Donaghys Ropa and Twine—flnal. Is per share May 18 N.Z. Paper Mills—flnal, 4 per cent., making 7 per cent, per annum . May 19 Dalgety and Co.—lnterim 3s per share, or 6 per cent, per annum, less British income tax May 20 Tui Brewery—interim 5 per cent. May 21 P. and O. Deferred—lnterim, 2% per cent May 24 Bank of New South Walesquarterly at 6 per cent, per annum May 26 Equitable Building and Investment— flnal 2 per cent., making 4 4-5 per cent, per annum Slay 26 North Walrarapn Permanent Building and Investment—flnal at 0 Per cent., making s '/a per cent. for the year M.iy 26 Westport Coal—interim 6d per share .. May 27 Clifford. Love, Sydney—interim. quarterly at 10 per cent, per annum May 27 Loloma (Fiji) Gold Mines—la per share May 27 Farmers' Trading Co., Aucklandfinals A and B pref. 5 3-5 per cent, per annum, C pref. 5 per cent, per annum May 31 Union Steam Ship, pref.—interim, 2% per cent May 31 Taringamutu Timber—2>6 per cent. June 1 Imperial Chemicals Ltd.—flnal 5% . per cent., making per cent per annum June 1 Henty Jones Co-op.—lnterim, 6d per share June 1 Broken Hill Pty—half-yearly, is 3d and on new shares 2',id pei share, Australian currency .... lune 1 Swan Brewery, Western Australia — ord. Cd and bonus 3d per share; and pref June 1 Dominion Fertiliser Co. —6 per cent per annum June 7 Bank of N.Z.—flnal Is per share, or 10 per cent, per annum June 10 Broken Hill South—lnterim, 9d per | share, In Melbourne June 15 i Mount Lyell.—interim, 6d per share June 20,