COMMERCIAL

Evening Star, Issue 19919, 16 July 1928, Page 2

COMMERCIAL

CANADIAN BANKS AMALGAMATE. Press Association—By Telegraph- Copyright OTTAWA, July I*l. At Toronto an announcement was made by Mr J. A. Robb (Minister of Finance) that ho bad consented to an agreement whereby the Canadian Bank of Commerce will purchase tho assets of the Standard Bank of Canada. The amalgamation, on a share for share basis, will bring tho assets of tho Bank of Commerce approximately to 700,000,OOOdol. Tho market value of tho Bank of Commerce shares is 298d01, and that of tho Standard Bank of Canada 277d0L Tho par value is lOOdol.—Australian Press Association. CANADIAN WOOL~COMBINE. Prcja Association—By Telegraph—Copyright NEW YORK, July 1-1. At Salt Lake Mr Frank Hagenbnrth. president of tho National Woolgrowers Association, announced the formation of a poo 1 involving 50,000,0001 bol fleeces annually. The object of the pool is tho domination of the American market and stabilisation of prices to a parity with foreign import prices.—Austialian Press Association. CANADIAN CROP. PROSPECTS. etm Association—By Telegraph—Copyright OTTAWA, July 14. ' A Montreal message state.-, that the estimated wheat acreage for 1928 in the prairie province is over 23,500,000 bushels, against 21,500,000. in 1927. This breaks all previous records, and crop prospects have never been more favourable. The apple crop is up 12 per cent. —Australian Press Association. CHICAGO WHEAT MARKET. *ro«* Association—By Telegraph—Copyright NEW YORK, July 14. Chicago wheat quotations:—Jury, 129.1 cents per bushel; September, 1525-; December, 136 3-B.—Australian Press Association. . cottonT RUBBER, ETC. Press Association—By Telegraph—Copyright LONDON, July 14. Cotton; August, 11.53 d per lb. Rubber: Para, Hid; plantation smoked, 9id. Jute: July-August, £3B 7s 6d. Hemp: July-Septcmber, £3O 10s. Linseed oil, £3O. , Turpentine, 44s 6d. —Australan Press Association telegram. hides! Press Association—By Telegraph-Copyright Hides are firm: Meatworks drysalted —Queensland, 351 b to 451 b 16id; 301 b to 401 b and 251 b to 351 b, 16id; ’2olb to 301 b, 16id; N.ew South Wales, same weights, id more; wetsalted— Queensland, 501 b to COlb Hid, 401 b to 501 b 113 d; New South Wales, Is; abbatoirs—Victorian, 501 b to GOIb aiid 401 b to 501 b Hid.—Australian Press Association. MEAT MARKET. Press Association— By Telegraph—Copyright LONDON, July 14. Sheep: Canterbury—medium 7Jd, heavy 6|d; North Island heavy, 6£d; New Zealand ewes, sid; Patagonian sheep and lambs not offering. , Frozen beef: Australian—fores 3Jd, hinds s|d; chilled Argentine—fores, djd; hinds 7id; Uruguay—fores 3'Rl. hinds 6|d; others were unchanged.— Australian Press Association,