COMMERCIAL

Evening Post, Volume CXXXVII, Issue 5, 8 January 1944, Page 6

COMMERCIAL

PIGS AND POULTRY,

The Dominion Auctioneering Co., Ltd., Palmerston North, reporting on its first -sale of the New Year, states that a medium entry of pigs came forward, best porkers selling to £2 9s and light porkers to £2, while heavy stores sold from 303 to 395. A good entry of poultry was disposed of, all lines showing a decline .on values with the exception of pullets, which brought up to 10s. Large quantities of fruit and vegetables were disposed of. WOOL RESERVES. American information discloses -that the British-owned strategic reserves of. wool in the United States are the equivalent weight of about 3,000,000 Australian bales, but they include South African and New Zealand supplies. This stock will be particularly useful in quickly providing raw, material for the United Kingdom and Europe Immediately after the war. After the previous war,'wool was plentiful in the primary producing countries, but scarce where it was needed for manufacture. The short Atlantic sea voyage makes the holdings in America quickly accessible. DISPOSAL OF WOOL STOCKS. The announcement that the United States Wdol Board is considering the disposal of the equivalent weight of 1,000,000 Australian bales held as emergency stocks ha 3 apparently not so far unduly disturbed the American market. Improvement in the Pacific shipping position has prompted the proposal. The New York Futures top market declined 8 per cent, during late October-November, but December prices showed considerable recovery. Wartime consumption is so large in the States that the raw material can be absorbed, and if the stocks are judiciously released, confidence in prices should not be upset. Apart from exports made since the war to America on behalf of the British and United States Governments, good shipments have been taken by American importers and millmen. COMMERCIAL BANK. The Commercial Bank 6f Australia advises that an interim dividend for sis months ended December 31, at the rate of 4 per cent, per annum on preference shares and at 6 2-3 per cent, per annum on ordinary shares, will be paid on February 4, 1944, in Australian currency. Transfer books will close on January The New Zealand Meat Producers' Board advises that the wether and ewe schedules la the North Island will be increased by oneeighth of a penny a lb as from next Monday. In the South Island the lamb and wether schedules will be increased by one-eighth of a penny a lb on the same day. GOVERNMENT SECURITIES. (By Telegraph—Press Association—Copyright.) LONDON, January «. The market for British Government securities is firm and more active. Prices compared with those of December 10 are as follows:— Dec. 10. Jan. 6. Consols, 3% p.c 79% 79% Fund. Loan, 60-90 1131/4 113% War Loan, 4% p.c. .. 103 3-16 103 9-16 Cony. Loan, 61, 3% p.c. 105 1-16 105 1-18 Victory Bonds, 4 p.c. .. 113% 113% N.Z., 49-53, 4% p.c. .. 105% 105% . N.Z., 1953. 3 p.c 100% 100%BANK OF ENGLAND RETURN. (By Telegraph—Press Association—Copyright.] LONDON, January JS. The Bank of England return for the week ended January 6, with that for December 30, Is given la millions of pounds, as follows: Dec. 30. Jan. 6. & & (millions) (millions) Issue DepartmentNotes in circulation .... 1088.7 1083.9 Notes in Banking Dept. . 11.5 16.3 Govt. debt 11.0 11.0 Govt. securities 1088.3 1088.4 Other securities 0.7 • 0.6 Fiduciary Issue 1100.0 1100.0 Gold coin and bullion .. 0.2 — Banking DepartmentCapital 14.5 14.5 Rest 3.3 3.3 Public deposits 10.3 9.6 Bankers' deposits 234.3 184.1 Other accounts 60.4 53.7 Govt. securities 292.0 231.8 Advances and discounts . 2.5 1.6 Other securities 15.9 14 9 Notes and coin 12.4 17.1 Proportion, -p.c. ...;.... 4.09 6.92 Bank rate. 2 per cent, since October 26, 1938. .