COMMERCIAL

Evening Star, Issue 20364, 21 December 1929, Page 13

COMMERCIAL

THE SHARE IRARKET DUNEDIN STOCK EXCHANGE'. T.ho Stock Exchange held the last call for tho year this morning. Thor© will bo no bulletins issued until the ’Change reopens on Thursday, January 9. Bank of New South Wales closed with a buyer offering £4O 15s, without any selling quote. Bank of Now Zcalands were wanted at 58s ocl, ana there was a close market for Commercials, the quotation being buyer 25s 9d, seller 2bs 10d. P. and 0. Deferred Stock and Umon Steam Ships wore both quoted ex dividend, the buying quotes being 50s 6d and zus respectively. Wtestport Coals were inquired for at 31s 3d, sellers asking 31s 7d. Buyers were prepared to give 44s 9d for British Tobacco shares, but there was no selling quote. Milbum Limes are still wanted at 35s 6d, the seller holding out for 36s 3d. Brewery shares were wanted at 87s and debentures at 28s 3d, but there was no response from sellers. There was not much interest displayed in the mining section., and Government Joans were hardly quoted. Quotations as under; Buyers. Sellers.

FRUIT AND PRODUCE. Bray Bros., Ltd., Dunedin, report as follows for tho week ending to-day:— The chaff market is quiet, and there are sufficient stocks in stores to meet the demand. Canterbury and Blenheim merchants arc shipping to tho North Island, and quotations rule roundabout £7 15s, f.0.b., s.i. Tho local price is £6 10s, ex store, for best quality. Poor quality is difficult to sell. The oat market is firmer; stocks are on the light side. Holders are not anxious to clear at the present quotations.' Sales of A gartons have been recorded at 3s 9d for prompt shipment, and B’s are worth Id per bushel Jess. Tho milling wheat market is quiet. There is still some old season’s wheat left in stores. Milling wheat prices arc round about 5s 9d (sacks extra), on trucks, country sidings, for Tuscan; 6s for Hunters, and 6s 3d for Velvet. Fowl wheat is in better demand, and inquiries have been received from the north. Millers’ prices are as follow:

Flour.—2oo’s, £l6 15s; 100's, £l7 las; 50’s, £18; 25’s, £lB 10s.

Bran, £7. Pollard, £S 10s, Oatmeal.—2s’s, £25 10s; 200‘s, £24 10s.

Tlio potato market is easier. Larger quantities are coming forward from the North Island, and locals are getting more plentiful. Some first-class samples are coming in from the Peninsula and Outrani districts, and prices are lower than usual for this time of the year. Old potatoes are practically unsaleable. The onion market is a little firmer, owing to the loss of the Manuka. There was a fair quantity of onions on board and the loss has made the market bare, but a shipment will bo in at an early date, when prices are likely to ease again.

The egg market is keeping steady. Fair quantities are coming forward; in fact, larger quantities than usual for this time of the year. Haras and bacon are in good supply and the market firm. Cheese is offering more freely and the market easy. The butter market is also easy. Honey has been in better demand, and the market has firmed up. There has been a good inquiry for first-grade honey. Early_ in the season the market was very quiet, and prices were depressed, but there is a much better tone now. Business in the fruit marts has been brisk during the week. Tomatoes are coming_ forward in larger quantities, and prices are easing. Some first-class hothouse tomatoes have come on the market from local growers. Some consignments have been perfect. A few consignments have come forward from the Nelson district.

Local-grown apples are now in short supply, and most of the lines are showing signs of decay. American apples are now offering, and the last shipment that _ arrived opened up in first-class condition, but how long they will hold is difficult to say. Oranges have been in good supply, and sales slow. This variety of fruit is cheaper in New Zealand than in Australia at the present time. Grapes are in good supply and prices reasonable. are still coming forward in fair quantities, but owing to the

wet weather most of the lines are on the soft side and will not hold for any time. A few consignments have come forward _ from the' Waimate district. This fruit has been firm, but most of the growers have suffered with the late frosts,, and crops are very small, Vegetables are in good supply. Rhubarb is still coming on to the market. Peas are keeping up in price. Supplies are less than- usual owing to tho late frosts.

Gooseberries -and black currants are coming in, and cherries are in good supply. There is a fair demand for all good, clean lines of fruit and vegetables, and the following prices were realised during tho week:— Honey.—4)d per lb; 101 b tins, 5s to 6s;, slb tins, 3s. 3d; sections, choice, 10s 6d dozen. Cabbage, 3s 6d to 5s 6d bag. Cauliflowers, 8s to 14s bag. Lettuce, Is 2d, Is 6d dozen. Lettuce, small, 4d to 8d dozen. Radish, Is dozen. Cucumbers, 4s 6d to 10s 6d dozen. Carrots (wanted), 12s cwt. Asparagus, 6s 6d to 10s 6d dozen. Peas, 3)d to s£d lb. Broad beans, 2)d to 3d lb. Rhubarb, 2)d to 3d lb. New Potatoes.—Local, 2d to 2)d lb; North Island, l)d to 2d lb. Potatoes.— Outram, and Oamaru, £7 10s ton; repickod, £9 ton; seed, _ 4s 6d to 20s cwt. Onions.—American, 16s bag; Australian, 15s cwt. Ovster grit, 8s 6d. Fat, 18s to 27s 6d. Oats.—A Cartons, 3s 9d; B Cartons, 3s 6d per bushel. Oatsheaf chaff, £6 10s per ton. Bran, £7 10s per ton. Fowl wheat, 6s to 6s 6d per bushel. Eggs, Is Id, Is 2d per dozen. Mutton birds, lOd. Butter pats, bulk, Is 3d, Is 7d. Bacon (Hitchon’s), Is 2d lb. Bacon Pigs',—Prime, 8d; porkers, 8RI; heavy-weights, to 6d. Beeswax, ls_ 7cl. Cheese, medium, 9d lb. Peanuts, 5d lb. Walnuts, 9d to Is II). Gooseberries, 2,1 d to 3d lb. Strawberries, 81 d to Is 3d pottle. Cherries, 81 d to Is 3d lb. Christchurch tomatoes, Is l-)d to Is 3d lb. Local tomatoes, Is lid to Is 4d lb. Apples.—Delicious. 13s 6d to 16s 6cl ease; Jonathans, 13s 6d to 15s case; Stumers, 13s 6d to IGs case; Democrats, 14s case; cooking, Ss 6d to 12s 6d case. American grapes, 24s 6cl. American Valencias, ’23s, Australian passions, 275. Australian valcncias, 235. Lemons.—Missions, 80s; Australian, 355; New Zealand, 245. Cocoanuts, 19s. Pines, 27s Gd. Grapefruit, 455. Bananas.—Ripe, 375; Samoan, 225: Niue Island, 18s 6d. FOREIGN EXCHANGES. (British Official WirelcM.j Press Association—By Telegraph—Copyright. RUGBY, December 19.

CANTEiIBUIIY MARKETS. [Tb;- United Press Association.] CHRISTCHURCH, December 20, The Christmas feeling has crept into the offices of tho grain _ and produce merchants, and a “wait and sc©” policy has been adopted generally. Apart from this, tho present is what is known as tho “ between period the old crop has for the most part been dealt with and tho new one is hardly readj’ for marketing. Under the circumstances tho business which is being don© in grain and seeds at present ■is negligible. Some oat crops are now being cut. The area in this cereal is limited, but, although it is not expected that the yield will be heavy, it promises, in the opinion of merchants, to be sufficient for requirements. There are still old oats in store, and these can be purchased at 3s 9d for A’s and 3s 8d for B’s, f.0.b., s.i A few merchants have attempted to do some forward buying, but, with the crop prospects so uncertain, the overtures are not resulting in business. The chaff market has eased a little. Sales had been made to the North Island at up to £5 17s 6d a ton, on trucks, and at that price the lew holder’s of unthreshed oats preferred to chaff rather than to thresh, but by yesterday the price of chaff had dropped by 7s d a ton, to-day’s quotation being up to £5 7s 6d, on trucks. Tho wheat crop will be lighter this >. but it is estimated that it will bo sufficient. The carry-over from this year is put down at about one and ahalf million' bushels. I owl wheat is in moderate demand at 6s to 6s_ld, f.0.b., s.i. Bran is quoted at £6 10s a ton, and pollard at £B, with a 10s increase for small sizes. Ihe potato crops are looking well. A much larger area is considered to have been planted this season. The price recently offering (£3 15s a ton, on trucks) is scarcely bcin" maintained by merchants.

COMPANY REGISTRATION. The latest issue of the ‘Mercantile Gazette ’ notifies the registration of the following company:— Ferguson, S. E., Ltd. Registered as a private company, December 3, 1929. Capital; £I,OOO, into 1,000 shams of £1 each. Subscriber's: Dunedin—S. E % Ferguson 999, M. Ferguson 1. Objects: Business of goldsmiths, silversmiths, jewellers, etc. NATIONAL MUTUAL LIFE ASSOCIATION, A SUCCESSFUL YEAR.; The head office in Melbourne of the National Mutual Life Association of Australasia, Limited, has cabled Mr W. A Martin, manager for New Zealand, regarding the results of the aSS sedation’s financial year which ended on September 30. The following particulars are taken from the directors’ report;—The new business for the year was £9,868,350. The total income for the year was £4,941,130. The sum of £2,400,265, was added to .the assurance fund, which amounted to £31,547,595 at the close of the year. The amount payable to policy holders or their representatives during the year was £2,093,781. The rate of interest earned on the mean funds was £5 6s after deduction of rates and taxes. The total assurances in force now amount to £81,262,284. Members may expect to receive their bonus certificates on March 1, 1930. ELDER DEMPSTER COMPANY. Press Association —By Telegraph—Copyright. LONDON, December 19. Tire directors of the Elder Dempster Company, one of the Royal Mail group, announce that in order to conserve tbe company’s cash resources it had been decided not to pay the half-yearly dividend of 6) per cent, on the cumulative preference shares. BRADFORD MARKET. LONDON, December 19. Bradford quotations are as follow: 64’s 31d, 60’s 29d, 56’s 24)d, 60’s 20)d, 46’s 18R- 40’s 17id. The market is slightly steadier at a decline. CHICAGO WHEAT MARKET. NEW YORK, December 19. Chicago wheat sold off sharply after easing throughout the session. Weak foreign cables started the selling. The closing quotations were:—December, 118) cents per bushel; March, 124-J; May, 128|-; July, 129). LONDON MARKETS. LONDON, December 19. Beet sugar is quoted as follows; January, 6s 7d and 6s 7ld. Butter L very slow. Danish, 168 s to 1695; choicest New Zealand, IGOs to 1625; Australian, 156 sto 158 s; nnsalted is scarce—New Zealand, 180 s to 182 s; Australian, 166 s to 168 s. Cheese is steady. Now Zealand coloured, 88s to 90s. BUTTER AND CHEESE. Amalgamated Dairies, Limited, have received tho following market report from London :—Official “anchor” price, 1645; market steadier, rather better inquiry; Danish butter, 1645, f.o.b. Cheese, white 89s, coloured 87s. "White cheese very firm on temporary shortage*. Messrs Dalgety and Co., Ltd., received the following cable from London, dated December 19:—The butter market* is very slow. Quotations are as follow: Danish butter, 168 s to 1725; New Zealand finest butter, 156 sto 160 s; Australian finest butter, nnsalted, 160 s to 1625; Australian finest butter,'salted, 154 s to 1575; G.A.Q. butter, 150 sto 1525. Tho Canadian cheese market is slow. Tbe New Zealand cheese market is steadier. Quotations are as follow'; New Zealand cheese, white, SSs to 89s; New Zealand cheese, coloured, 87s to SSs; Canadian cheese, white, 94s to 98s; Canadian cheese,' coloured, 94s to 98s. EXPERT ADMINISTRATION OE YOUR ESTATE. This is iho era of specialisation—excellence in any particular walk of hfo demands it. The advantages of leaving administration of your estate in tho hands of a company specialising in trustee work—-The Trustees, Executors, and Agency Co. of N.Z., Ltd.— are widely recognised. Naming “The Trustees, Executors” as your trustee and executor Is an assurance that your affairs will be economically, efficiently, and impartially managed. Then, too, consider the inestimable advantages of permanency offered by tbe Company. Nothing can happen which la likely to prejudice tho careful and continuous administration of your affairs. No private trustee can guarantee this. Ho is liable to all the sicknesses and temptations to which man is heir. Ho may desire to travel. Death may intervene. All those eventualities would seriously prejudice the welfare of your estate. Fullest information gladly supplied. j Address; Corner Bond and Wafer streets, j Dunedin. j B. E. CLOWES. Manager.—[Adrt.J

£ B. d. £ s. d. BANKING— Bank of Australasia 12 16 6 Bank of N.S.W. ... 40 15 0 — Bank of New Zealand 2 18 6 — Bank of New Zealand (Long: “ D ”) 1 8 0 18 3 Commercial Bank 1 5 9 1 5 10 National Bank of Australasia (cont.) — a 0 u INSURANCE— National Insur, Co. 0 15 0 N.Z. Insur. Co. 2 4 0 2 5 9 Standard Insur. Co. — 339 A.P.A. Insurance — 0 9 0 SHIPPING— Huddart, Parker (ord.) ..- z 2 e Huddart, Parker (prof.) 1 0 0 — P. end O. Def. Stock 2 10 6 — U.S.S. Co. (prof.) ... 1 0 0 — COAL— Westport Coal Co. ... 1 11 3 111 7 Westport-Stooktou (ord.) - — 0 5 0 LOAN AND AGENCYDalgety and Co. 12 IS 0 13 5 0 Goldsbrough, Mort ... — 1 18 0 National Mortgage ... 4 5 0 — Perpetual Trustees ... 3 8 0 — Trustees, Executors ... 3 0 0 — MEAT PRESERVING— N.Z. Refrigerating (cont.) 0 5 0 MISCELLANEOUS— Aust. Iron and Stool 10 9 British Tobacco 2 4 9 — Brown, Ewing (ord.) 1 10 0 — Bruce Woollen Co. (ord.) 0 11 0 Colonial Sugar Co. ... — 49 10 0 D.I.C. (ord.) 0 11 Op — D.I.C. (pref.) 1 1 3 —, Donaghy’s Rope and Twine 1 15 6 Dunlop Rubber' — 14 9 Kaiapoi Woollen (pref.) 0 14 9 Milburu Lime and Cement 1 15 6 1 16 3 Mosgiel Woollen Co. 7 10 0 — National Electric 0 9 9 — N.Z. Paper Mills . ... 1 0 6 11!) ‘ Otago Daily Times 1 -r 3 12 0 Wilson’s Portland Cement ... 2 2 0 BREWERIES— N.Z. Breweries, Lid. 4 7 0 N.Z. Breweries Debs. 1 8 3 — N.Z. Breweries Stock 1 8 0 — Staples’s Brewery 2 12 9 2 14 0 MINING— Kawarau 0 0 6 Waibi 0 13 4 — Waibi Grand Junction 0 I 1 — Electrolytic Zinc (def. ord.) 1 14 5 Mount Lyell — 1 18 9 Big Beach 0 5 0 0 5 0 Winding Greek — (i 13p Winding Creek (paid) — - 0 2 0 Sloney Creek 0 0 24p 0 0 5p Paddy’s Point 0 3 6 — Obinemuri — 0 7b Kildare 0 1 7 0 1 10 Okarito — 0 1 6p WAR BONDS (Bonds quoted are £100 Bonds) — 1933 54 p.c. S.S. Bonds 100 10 0 101 10 0 1930 51 p.c. Bonds 99 0 0- — 1933 5t p.c. Bonds 99 0 0 — 1937 54 p.c. Inscribed — 100 0 0

Dec. 17 Dec. 19. Brussels, bclgfls to £1 r . ... mo* 123.9 Oslo, kroner to 34.8(55 34.80 Stockholm, kroner to ,£.! ... Copenhagen,' kroner to -£1 ... 18,205 18.20 18.093 18.09 Berlin, reichmarken to ... 18.185 18.185 Montreal, dolla to ... New York, dollar (o £i ... 20.385 20 .;;s ■4.91* • 4.91 Milan, lire to 4.68 5-32 4.88 1-0 Amsterdam, florin fo £i ... 93 21 93.25 Prague, kroner to £.‘1 ... ... 12.09$ 12.10 Geneva franc to £1 ... 104’ i r>4’ Vienna, schilling to £1 25.09ft 25.09 Helsingfors, marks to ;£! ... 34.00 :m.G7 Madrid, peseta to £\ ... ... 194’194$ Athens, drachmae to £1 ... 35.20 » r 1.j.,5o I.itbon, escudo to £1 ... ... 375 375 Bucharest lei to /,J 108.25 I0S.2 t Rio d© Janeiro, pence 818 , : tir to milreii Buenos Aires, pence to pesos 5 0A6 Shanghai, pence to tael ... 40 1-10 45 Yokohama, pence to ven 2(3$ 26$ Hongkong, penc© to dollar ... 24 3-32 24 3-3 Bombay, pence to rupee ... ‘jni 20 Paris, franc to £1 .17 29-32 17 2932 Batavia, florin to ... 12.13$ LONDON STOCK EXCHANGE. Press Association—By Telegraph—Copyright. LONDON, December 19. The following are the latest quotations lor Government securities :— Imperial Consols, 52$ p.c.. £& 10 0 Funding loan, 4 p.c., 1960*1900 85 3 y War loan, 5 p.c., 15)29-47 ... 99 15 u Conversion loan, 3$ p.c, Victory bonds 4 pc. .. ... 74 0 0 91 10 0 Commonwealth 6 p.c., 1931-41 99 5 0 Commonweal 5 p.c., 1945-75 91 7 c; New Zealand 6 p.c., 193U-51 ... 10-1 10 0 New Zealand 4 p.c., 1920 92 jr. 0 New Zealand 3$ p.c., 1940 ... 85 10 0 New Zealand 3 p.c.. 1945 76 17 6 New South Wales 6| p.c., 1930-40 101 0 0 New .South Wales (i p.c, 1022-31 98 0 0 New South Wales 6i n.c.. 1030-40 ... 07 2 t) New South Wales 4 p.c., 15)33 91 2 6 New South* Wales 31 p.c., 1930-50 84 3 9 New South Walts 3 p.c., I9o5 70 3 0 Victoria 5$ p.c., 1930*40 97 3 9 Victoria S p.c., 1932-42 90 15 0 Victoria 4J p.c.. 1940-G0 84 0 0 Victoria 3i p.c., 1929-49 70 15 0 Victoria 3 p.c. 1029-40 ... ... (55 7 (5 Queensland 0 p.c., 1930-40 90 0 0 Queensland 3$ p.c., 1930 or :i !) Queensland 8 p.c., 1927-47 (58 0 0 South Australia 0$ p.c 1930-40 inv o 0 South Australia 3i p.c., 1939 ... 81 5 0 South Australia 8 p.c., 1511(5 or after ... 54 15 0 West Australia 0 p.c., 1030-40 98 0 0 West Austi alia 3$ p.c. 1920-3.) 87 15 0 West Australia 3 p.c., 1915-35 85 10 0 Tasmania G$ p.c., 1930-40 101. 0 0 Tasmania 3$ p.c., 1920-40 • 70' 10 0 Tasmania 3 p.c., 1920-40 ... ... 75 0 0