COMMERCIAL

Evening Star, Issue 20316, 26 October 1929, Page 13

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK'EXCHANGE. A reported sale iu Paddy’s Point Mining Company at 5s was the only business transacted on the market this morning. Prices generally were bn a par with those ruling yesterday. New Zealand Paper Mills have declared an interim dividend at the rate of 7 per cent, per annum. These shares were wanted at 20s, but sellers stood off at 21s 3d. Sale: reported:—Paddy’s Point, ss. . Quotations bs under;—

FRUIT AND PRODUCE

Bray Bros., Ltd., report as follows for the week ended to-day:—

At tho present time there is a limited demand for choice lines of milling wheat, but so far as this district is concerned t’here is practically none of this quality available, and requirements have to be drawn from Canterbury, . Most of the business passing is confined to pool wheat, as the free wheat is now nearly all taken up. Prices remain 'unchanged at 6s 9d for Tuscan (sacks extra, country sidings), 6s for Hunters, and 6s 6d for Velvet, 'Phe wheat crops in the South Island have been backward on account of the rainy spring weather, and now they are being affected by a lack of moisture. In some districts rain is now badly wanted. The heavy rains during the winter thoroughly soaked tho soil, and now the dry weather is causing the surface to become hard. The weather conditions are having a tendency to firm the market, as if they continue unsuitable, the harvests from the crops will be affected. Fowl wheat is meeting with a good demand locally, and stocks are getting into small compass. Up to 6s Id per bushel (sacks extra), ex store, is now obtainable for best quality. Reports from Canterbury state that the shipping market of the North Island has quietened down, and that, although the chief quotation is 6s f.0.b., s.L, sales have been made at Id ner bushel less. _ The oat market continues quiet, and little business is passing. There is no demand-’from millers, who are bolding sufficient stocks until the season’s oats come forward. Some operators are now quoting for spread delivery, next season, and A’s are on the market at 3s 6d. f.0.b., s.L. for April to September, The quotations for existing stocks are ,3s 7kl, f.0.b., s.i., for A’s, and 3s qid for B’s. These prices are equivalent to 3s Id and 3s 3d (sacks extra)), on trucks, country sidings. . . Consignments of chaff are arriving sparingly, as farmers are now busy wit 1, other work, and are unable to cut chaff. The demand, however, is oniet, and there are amnle stocks in the stores to meet +h° demand. Prices remain unchanged; hest finality is semn rr at £6 ner ton (sacks extraV ex truck, and £6 5s ex store. Reports from the north state that the shipping market is weaker, following on the importation of Tasmanian chaff, and that the Canterbury and Blenheim merchants have now reduced their quotations to the North Island. Flour —ODD’s, £l6 5s : 100’s, £l7 15s; Ws. £18: 9.5’a. £lB 10s.

Bran, £7. Pollard, £8 10s. Oatmeal.—2oo’s, £24 10s; 25’s, £25 10s.' The near approach in the North Island of the new potato crop has caused business in old tubers to ease. Digging is becoming more general in the" North Island, and increasing quantities of new potatoes are coming on the market there. Prices eased during the week, and the local nominal quotation is £8 10s (sacks included) for freshly-dug lines. The shipping quotations from Canterbury to the North island also show a drop* There is practically no change, in the seed markets. The retail business is being affected by tho dry. weather. ... Supplies of apples are still arming from Canterbury, and also Central Otago. A few lines of Democrats are also coming forward from Otago Central, and cookers are- in short and are arriving" mainly from Canterbury cool, stores./ A shipment of Samoan bananaSj which arrived - on Tuesday ex the Mam Pomare, was the best : quality which has so far reached the local market. The whole supply for Dunedin to arrive. High prices were realised for the line which went to_ Invercargill. These were sold at auction, whereas the bananas for the Dunedin market were placed to arrive at a fixed price. A shipment of Fijis is expected to reach Dunedin towards the end of next week. mu„ Supplies of oranges are scarce, me Manuka from Melbourne brought a small consignment of navels, and the Waikouaiti from Sydney landed a fine of Valencias, also some pines. Ihe fruit opened up in good order, I he quantity of oranges coming forward is not sufficient for tho demand, and the market is bare again. A few lots of Australian mandarins arrived during the - week, and made .satisfactory prices. ... , Christchurch tomatoes are a little more plentiful, and prices have eased somewhat. Cauliflowers were in heavy supply during the week, and prices slumped. Supplies were not so plentiful towards the end of tho week. Cauliflowers have been very late this year, and in a week or two supplies will again be short. Cabbages are_ in good supply. Asparagus is arriving from Canterbury in greater quantities, and the price is easing. Hothouse grown potatoes and peas are still arriving in small lots. Lettuce have been in over supply, and best quality have been selling at Is 6d to 2s 6d per dozen. Poor quality is unsaleable. Rhubarb is in full supply. Carrots are in short supply, but parsnips and Swedes are plentiful Bulk honey, lb; 101 b tins, 5s to 6s ; sections, choice, 10s 6d. Cabbage, 4s to 5s bag: medium, 8s 6d. Cauliflowers, 5s 6d to 10s. Lettuce. 2s to 6s dozen. Radish, Is dozen. Cucumbers, 8s 6d to 14s. Asparagus, 7s 6d to 9s. Christchurch tomatoes, 2s Kkl to, 3s Id. Peas, 10|d to Is 3d lb. Rhubarb, Ud to 3d lb. New potatoes, to Is 3d lb. Eggs, Is 2d to Is 3d.' Mutton Birds, lOd. Butter pats, bulk, Is 3d, Is Bd. Bacon, Hitcbon’s, Is 2d. Bacon pigs, prime Bd, porkers 9d, heavyweights to 6d, Beeswax, Is 7d. Cheese, medium, 9sd. Peanuts, 5d lb; walnuts, 9d to Is. Tomatoes, Raratongan, 8s to 10s 6d case. Apples.—Delicious, 10s to 15s 6d case; Jonathans, 8s; Stunners, 7s to 14s case; Democrats, to 10s 6d; cooking, 8s 6d. Dessert Pears.—Winter Coles, 8s to 11s 6d; Winter Nelis, 9s. Cooking pears, 6s. American grapes, 27s 6d. American Valencias, 42s 6d. Australian passions, 23s 9d, Australian navels, 27s 6d. Lemons. —Missions, 70s; Australian, 37s 6d. Mandarins, choice, 28s. Grapefruit,_ 40s. Bananas, ripe, 30s. Potatoes.—Canterbury, Outran), and Oatnaru, £8 to £9; repicked, £lO. Potatoes, seed, 4s 6d to 20s. Onions, American, 22s 6d. Swedes, 3s cwt. Oyster grit, 8s 6d. Fat, 18s to 27s 6d. Oats.—A Gartons, 3s 9d; B Gartens, 3s 6d per bushel. Oatshenf chaff, £6 10s per ton. Cow chaff, £4 10s per ton. Lucerne hay, £6 10s per ton. AUSTRALIAN MARKETS. Press Association—By Telegraph—Copyright. SYDNEY, October 24. Wheat ■ At country stations, 4s 6d; ox trucks Sydney, 5s Id. Flour. £l3 10s. Bran and pollard, £7. Potatoes: Tasmanian Brownell, £3O; local Clarence River, £3O; Victorian, £26. . Onions: - Silver skin, £l7 ; Spanish, £l6. Oats: White, 4s lOd; Algerian, 4s 6d. Maize, 6s 6d. ADELAIDE, October 24. Wheat; Growers’ lots, 4s 9£d. Flour, £lO 2s 6d. Bran, £6 15s. Pollard, £7. Oats; Algerian, 3s 4d. MELBOURNE, October 24. Owing to a slight disagreement with buyers, no hide sales were held to-day. Wheat, 5a 4fd Flour, £l2 16s to £l3. Bran and pollard, £7 IBs, Oats, 4s 2d. Barley: English, unchanged. Maize, 6s 7d THE METAL MARKET. LONDON, October 24. Copper: Spot, £72 8s 9d; forward, £72 15s -7}d, Electrolytic; Spot, £B3 15s ; forward, £B4 ss. Wire bars, £B4 10s. Lead: Spot, £23 11s Sd; forward, £23 10s Spelter: Spot, £22 10s; forward, £22 18s 9d. ’fin; Spot, £IBB 17s 6d; forward, £192 18s 9d. Silver • Fine, 23d; forward, 24 13-16 d per oz.—Australian Press Association. ' CALL MONEY RATE. NEW YORK, October 24. Call money rate of renewal is high 6, low and close 6.—Australian Press Association.' WHEAT, FLOUR, ETC. LONDON, October 24. Following a sharp decline in America and the Argentine, cargoes opened dull at Is easier. Parcels were. 6d to Is lower, but buyers were not interested. Futures • London—October-Novem-ber, 47s 7d; December, 48s Id ; January, 48s 9d. Liverpool—October, 8s 7d; December, 8s 10 6rßd; March, 9s od: May, 9s Spot trade is steady. Australian; cx ship, 45s 6d. $

Flour is dull at 35s 6d to 365. Barley is weak. Australian, 41s to 425. Beans are steady, and peas quiet. New Zealand Partridge, 60s to 67s 6d. —Australian Press Association-United Service. BUTTER AND CHEESE. LONDON, October 24. , Butter is quiet and steady. Danish, 197 s and 198 s; New Zealand, 182 s; Australian, 178 s and ISOs; unsalted, 180 s and 188 e. ' Cheese; Firm. New Zealand coloured, 935; white, 945. The National Mortgage and Agency Company, Ltd., has received the following cable from London: —“ Butter: Market slow. Finest New Zealand, 180 s to 182 s ; first grade. New Zealand, 178 sto 1795; Danish, 194 s _to 1965; Australian, 175 s to l/9s; Irish, 1765, ! Continental market steady. Cheese: Market better. New Zealand white, 945; New Zealand coloured, 935; Canadian white and coloured, 94s to, 965.” BRADFORD MARKET. LONDON, October 24. i The Bradford market is firm, but buying bas been checked by the labour dispute. Sixty-fours, 33id; 60’s, 31 id; 56’s, 26d; 50’s, 23d; 46’s, 20jd- 40’s, 19*d. ' SHEEPSKIN SALES. LONDON, October 24. At the sheepskin sales there was only an average selection. There was good general competition. Merinos were 7$ to 10 per cent, below September sales; fine medium cross-breds, 7£ per cent, down; low cross-breds, 6 per cent. down. BEET SUGAR. LONDON, October 24. Beet sugar :November, 8s Id and 7s Bd.—Australian Press Association. FOREIGN EXCHANGES. {British Official Wirelese.), IPwm® Association —Bj Telegraph—Copyright. RUGBY, October 24.

better and cheese. The Otago Farmers’ Co-operative Association, of New Zealand, Ltd., has received the following cable from London: —“Butter: Demand continues very slow; New Zealand, 179 s to 183 s. Cheese: Slightly better demand; 93s to 945.” ■ POTATOES DROP IN SYDNEY. Press Association—By Telegraph—Copyright. SYDNEY, October 26. (Received October 26, at 10 a.m.) New season!© potatoes dropped £8 per ton to £24. Further substantial reductions are expected. COMPANY REGISTRATION. Hislop and Gibson, Ltd., registered as a private company, October 14, 1929. Capital; £15,000, in 15,000 shares of £1 each. Subscribers: Dunedin—P. C. Hislop 5,000, W. B. Gibson 5,000, D. H. Sband 5,000. Objects: To acquire the. goodwill of and take over as a going concern the business .of motor importers and garage proprietors belonging to P. C. Hislop and W. E. Gibson.

LONDON MARKETS. Messrs Dalgety and Co., Ltd., hav® received the following cable from London, dated October 24:'—At the sheepskin sales 2,315 bales offered, 2,139 sold. Attendance of buyers fair, competition fair from American, Horn® trade, and > Continental buyers. As compared with closing rates of last series: Fine cross-bred combing, Id to l£d lower; medium cross-bred combing, id to Id lower; coarse cross-bred combing, par to id lower; clothing, Jd to Id lower; lambs, par to id lower. THE ESSENTIAL QUALIFICATIONS OF A TRUSTEE AND EXECUTOR. Is it possible for a single individual fas possess all the, qualifications that make art ideal trustee and executor? Emphatically not No matter how competent and conscientious he may be, oho-fact elands supremeno man is master of his own destiny H<* is but human, subject to all the temptation* of mankind, liable to illness and death* All these eventualities read to the detriment of an estate' The advantages of entrusting your affairs to a company specialising in every phase ofi trustee work—Tho Trustees. Executors, and Agency Co, of N.Z., Ltd.-are unequalled* “ The Trustees, Executors" offer you pert, economical, and impartial administration at exceedingly moderate charges You aro assured ot permanency— a priceless advantage The wide experience and business knowledge possessed by the Directors, Management, and Staff are at your service. Address; Corner Bond and Water ‘streets* Dunedin. E. E. CLOWES, Manager.—{Advt.J

Buyers. Seilers. £ s. d.' £ s. d. BANKING— Australian Bank of Commerce 1 11 7 1 13 6 Bank of N.S.W. ... — 49 0 0 Bank of New Zealand 3 (TO — Bank , of .New Zealand (Long “ D ”) ... 18 0 . — Commercial Bank ... 16 9 — National Bank of New Zealand .*> ... 6 15 0 Union Bank o. Australia, Ltd. ... ... 14 S 0 14 12 6 INSURANCE— National Insur. Co. ’ 0 16 4 0 16 8 South Brit : sh Ins. Co. — 3 7 t. SHIPPING— Huddart, Parker (ord.j i A u Huddart, Parker (pref.) • ... 108 ■ _ U.S.S. Co. fnref.) ... 10 9 — COALPukemiro Collieries 3 9 0 5 11 0 Westport Coal Co. ... 1 14 0 1 15 0 Grey Valley ... ... 15 0 — LOAN AND AGENCYPerpetual Trustees ... 3 8 0 Trustees Executors ... 3 0 0 —• Wright. Stephenson (ord.) ... 14 0 _ Wright, Stephenson (pref.) 0 17 9 . __ MEAT PRESERVING— Gear Meat Co.' 2 4 6 N.Z Refrigerating 0 13 9 (paid) — N.Z. Refrigerating (cont.), ... ... ... 0 5 11 0 6 1 MISCELLANEOUS— ■ Aust. Iron and Steel 1 2 9 British Tobacco — 2 7 0 . Brown, Ewing (ord.) 1 10 3 — Brown, Ewing (pref.) 10 6 — D.I.C. (ord.) ... ... 0 12 C — D.l.C (pref.) ... ... 116 — Dental and Medical Supply ... „ 0 10 f Dominion Rubber ... — 1 11 0 Donaghy’s Rope and Twine 1 15 0 . Kaiapoi Woollen (ord.) ... 0 13 6 Kaiapoi Woollen (cont.) ... ... ... 0 3 6 0 4 3 Kaiapoi Woollen (pref.) 0 14 6 ■ National Electric .... — 0 11 0 N.Z. Drug Co. ... — , 3 14 9 N.Z. Paper Mills (cum.) ... 10 0 1 1 5 ‘ Otago Daily Times ’ — 3 14 0 Wilson’s Portland Cement _ 2 3 0 Farmers’ Fertilisers 116 — Auckland Gas 14 6 — Christchurch Gas ... 1 6 6 1 7 6 BREWERIES— N.Z. Breweries, Ltd. 4 7 6 4 9 0 N.Z. Breweries Debs. 18 6 1 9 2 Staples’s Brewery ... 2 15 0 2 14 9 MINING— Nokomai Sluicing 0 15 0 Waihi ... 0 13 6 . —. Mount Lyell 2 3 0 2 3 8 Paddy’s Point 0 4 0 0 5 3 Stoney Creek 0 0 4p 0 0 6p Kildare 1 ..." 0' 4 0 0 4 3 Okarito 0 lip 0 1 9p Winding Creek 0 0 9p — Winding Creek (paid) 0 16 0 1 3 Ohinemuri 0 9 0 WAR BONDS (Bonds quoted ere £.00 Bonds)— 1930 41 p.c. Bonds ... 99 0 0 1938 p.c. Bonds 100 0 0 — J.939 p.c. Bonds ... 100 0 0 — 1941 4£ p.c. Bonds ... 100 0 0 — 1941 51 p.c. Inscribed 99 5 0 1930 5i p.c. Bonds ... 99 5 0 — 1936 5£ p.c. Bonds ... 101 0 0 — 1933 51 p.c. Bonds ... 99 0 0 1933 51 p.c. Inscribed 99 0 0

Oct. 22. Oct. 24. Paris, frene to £1 ... ... ~. 123.80 123.855 Brussels, bclgas to £1 34.885 34.875 Oslo, kroner to £1 18.205 18.205 Stockholm, kroner to £1 ... 18.155 18.155 Copenhagen, kroner to £1 ... Berlin, reiclimarken to £1 .., 18.205 18.205 20.403 20.405 Milan, lire to £\ 93.125 93.105 Amsterdam, florin to £1 ... 12,105 12.09}' Prague, kroner to £1 ... ... 164} 1841 Geneva, fran* to. £1 25.18. 25.17 Vienna, schilling, to £1 34.605 24.71 Bucharest lei to ;£! ... ... 817 617 Helsingfors, morns to £1 ... 194 194} 34.20 Madrid* peseta to £\ ... 33.825 Athens, drachmae to £i ... S75 375 Lisbon* escudo to .. ... 108.25 108.25 New York, dollar to £1 ... 4.67 25-32 4.88 1-32 Montreal, dollat to £1 4.92} 4.95} Buenos Aires, pence to pesos 46$ 46* Rio dc Janeiro, pence Si to rfulms Bombay, pence to rupee 17 17-32 17 27-83 Yokohama, pence to yen Hongkong; pence to. dollar ... 23 17-32 20} 23 17-32 Shanghai,' pence to tael ... 26} 26} Batavia, florin to £1 ... -... 12.14 ' 13.14