Commerce, Mining, & Finance

Evening Star, Issue 22382, 4 July 1936, Page 12

Commerce, Mining, & Finance

AUSTRALIAN STOCK MARKET Press Association—By Telegraph—Copyright SYDNEY, July 3. A continued hardening of the market ■ for high-class industrial shares and a firming trend for many 'low-priced . tradirig issues were recorded on tUe Stock Exchange to-day. Pas.oial ,i shares also rallied. MORNING SALES.

METAL PRODUCTION AUSTRALIAN TOTAL HIGHER Production of principal metals, apart ’ from gold; in Australia during 1935 showed a steady increase upon the figures for 1934, the exception being lead, the production Of which, fell by 8,032 tons. Output of zinc was higher by “11,732 tons, while a small increase was shown in the production of silver. Comparatively large increases were shown ■ in 1935 in the production of copper and zinc. ’ The following figures compiled by the Australian Mines-.and Metals Association show the production of each metal during last year, with figures for 1934 . in parentheses:—Lead. 221,793 (229,- ’ 825) tons: zinc, 148,492 (13G.760) tons; i silver, 11,562,373 (11,357.091) fine ounces; copper, 16.990 (12,012) tons; ‘ tin, 3,130 (2,986) tons.

FINANCIAL. FINANCE YOUR BUSINESS, YOUR MOTOR CAR SALES Through SECURITY FINANCE CO. LTD., Security Buildings, Stuart street, Dunedin. P.O. Box 671. Phone 12-344.

BUSIER FACTORIES CONDITISNS IN AUSTRALIA RECORD NUMBER OPERATING. The upward trend in factory production in Australia which followed 1931-32, the year in which secondary industries reached their lowest level during the depression, was maintained in 1934-35. A survey issued by the Commonwealth Statistician states that, measured by employment, the position had improved 34 points since 1931-32. The value of salaries and wages pa hi increased by 30 per cent. —from £65,900,000 to £72,800,000; while the value of production increased by 29 per cent.— from £111,000,000 to £143,500,000. The number of factories operating in 1934-35 was 24,211, the highest yet recorded, compared with 21,657 in 193132. In 1934-35 the number of persons engaged in factories was 449,598, compared with 452,184 in the peak year, 1926-27, and 336,658, the lowest point reached in 1931-32. Employment in factories had increased by 34 per cent’., since 1931-32, and was within 1 percent. of the maximum recorded in 192627. Males engaged numbered 322,465 and females 127,133. There were 254 males employed for every 100 females. The number of females engaged was the greatest yet recorded, and exceeded that of the previous record year by more than 10,000. A'nother interesting feature of the position was the large increase in the employment of children aged less than 16 years. In 1934-35 there were 26,300 children employed, compared with 23,900 in 1926-27.

PORT OF LONDON i TO SPJEND £12,000,000 London Docks, world’s largest, which has just ended a year °f record activity, is to be extended at a cost of £12,000,000 because “ there is a good time coming.” Old warehouses are to be swept away, electric cranes are to be installed, and the whole system of receiving, shipping, and storing goods is to Ire the best in the world. BOBBY CALVES Mr W. A. Phillips, chairman of directors of the New Zealand Co-operative Pig Marketing Association Ltd., is of opinion that all those engaged -in the bobby calf trade would welcome the Government V<sfonns. In any case, Mr Phillips said his company was entirely in sympathy with the motives actuating the Govermrient and others concerned in these developments. “ While 1 feel, sure,” states Mr Phillips, “ that all those engaged in the trade will do their utmost to co-operate with the Government to give effect to its objectives, it must not be overlooked by ,the general public that this trade has its inherent peculiarities, the nature of which naturally tends to exaggerate features which may in the past have been found objectionable.” The trade is a very valuable one to the dairy farmers. Air Phillips further that there was ample scope for improvement in past conditions governing the trade; but since in their mutual interests it is the responsibility of buyers and producers alike to co-operate in bringing this about, he hoped that all sections of the trade will be guided by the paramount consideration—Viz., the importance of conducting the industry ima manner which will ensure its preservation on humane and economic lines.

EXPORT TOBACCO LEAF SUCCESSFUL TRIAL SHIPMENT [Per United Press Association.] NELSON, July 3. At a meeting of tobacco growers convened by the Nelson Provincial Tobacco Growers’ Association, held at Riwaka, Mr F. O. Hamilton, director of Messrs Buxton and Co. Ltd., submitted details concerning the marketing of a trial shipment of export tobacco leaf forwarded to London last season. These showed satisfactory results, and indicated a brighter outlook for growers. Mr Hamilton said the shipment of New Zealand tobacco leaf had been entirely experimental, and, on the whole* the reports received “were, he thought, flattering, particularly as it was an initial shipment. After the matter of export for the season 1936 had been further considered it was decided to endorse the principle of export and to recommend that the Government and the Tobacco Board.be requested to give both financial and all other assistance possible in order firmly to establish the leaf on English and other markets and thus prevent a promising industry receding again to the 1934-35 position. It was resolved strongly to object to the suggested levy of one half-penny per lb on leaf exported until the expiry of the three-year agreement between the association, E. Bnxton and Co., and the Government made prior to the Act coming into operation.

STOCK AND SHAREBROKERS. THE sESumTiES mmmim mi.) lifted Phone 11-777. SELLERS OFFER:— £ s. d. 200 Burns, Philp 5 15 0 100 Yarra Falls 2 0 0 50 Self ridges Anst. (new) 1 7 6 10 Commorical Bank Pref. 9 2 6 £l2l P. and 0., Stock ... 1 8 0 200 National Bank 3 9 0 60 Shillings 0 15 9 200 Farmers’ Trad, (ord.) 10 0 100 Dominici* Fertiliser 16 3 100 Perpetual Forests ... 217 6 50 Woolworths (N.Z.) ...6 0 0 100 Australian Glass ... 410 9 300 Wright, Stephenson (ord.) ... ... 018 9 25 Waitaki Farmers’ Freezing 4 16 1,500 Big Rivers ...0 2 1 BUYERS REQUIRE:— 300 Mort’s Dock. 50 Hume Pipe. £l5O 1943-46 4 per cent. Stock. £2OO 1946-49 4 per cent. Stock. 30 Tru Colour Frefs. 100 Dominion Builders. 100 Broken Hill Pty. 100 G. J. Coles 100 Wilcox, Mofflin. 200 Commercial Banks. 4 Afforestation Ltd. Shares. 6 N.Z. Perpetual Forest Bonds (any issue). Telephone 11-777 (4 lines). ALLIANCE ASSURANCE BLDG., 20 Crawford street, Dunedin.

FRUIT AND PRODUCE Bray Bros. Ltd. report as follows for the week ended yesterday, Few transactions are now taking place in the milling wheat market, so far as the Otago district is concerned, as most of the millers have secured their requirements. The dat market remains steady, with, if anything, a fi riper tendency owing to a demand by merchants for oats for seed purposes. The price. for A Cartons to-day can be given as 3s 2d, f.0.b.5.i., with B’s at 3s, prompt delivery. These prices are equivalent to 2s 7d and 2s scl respectively on trucks, country sidings. Millers’ prices are as'follows:— Flour: 200’s, £l3 12s; 100’s, £l4 12s 6d; 50’s, £l4 17s 6d; 25’s, £ls 7s 6d. Bran, £5 5s per ton. Pollard, £6 15s per ton. Oatmeal; 2001 b sacks, £l9; 25’s, £2l Pollard has been reduced by 10s per ton The firmness in the oat market has caused a hardening tendency in the price for chaff. Good, bright chaff is quoted at up to £5 per ton, ex truck, sacks extra. The potato market continues quiet, with reports from the North Island •stating • that large consignments are still arriving from the South Island. Local distributors are inclined to hold off the market, and sales are difficult to make at £5 to £5 5s per ton, sacks included, for Arrau Chiefs. King Edwards of .sound quality are selling at higher values.

Certified lines of seed potatoes have a good inquiry, as growers have had excellent results by sowing this kind of seed. More interest has been shown in seeds since last week, particularly in Chewing’s fescue and crested dogstail, To-day’s quotation for export quality fescue is firm at lid per lb, f.0.b., and crested dogstail is worth Bid. Good, bright Akaroa cocksfoot of high germination is quoted to-day at Is 2d per lb in Christchurch. Business in the ‘fruit marts during the week has been fairly quiet. There is a good demand for apples of choice quality. Cookers are in better supply. Dessert pears have a moderate inquiry. Small lots of tomatoes are arriving on the market. There is a better inquiry for Now Zealand-grown lemons of good quality. The Waikou--aiti arrived from Sydney, the only fruit among her cargo being a few cases pines. The Waitaki arrived from Melbourne to-day with the first shipment of South Australi.au navels and mandarins. The demand is so keen that stocks will be out of wholesalers’ hands within a day or two. The fruit has arrived in excellent condition. Cauliflowers are in short supply, and cabbages have a better demand. Other vegetables are in iull supply, with low prices ruling. The following prices were realised during the week;—

—Per Dozen.— Cabbages, Is to 3s sack. Cauliflowers, 6s to 7s sack; others, 4s sack. (Cucumbers, wanted, 2s 6d to 3s 6d. Carrots, Is dozen, 2s to 2s Cd sugar bag. Parsnips, Is dozen, 2s Cd sugar bag. Beet, Is. Celery, 4d to 8d bundle. Lettuce, extra choice, wanted; Is to 2s. Eggs: Poultry keepers’, Is sd; storekeepers’, Is 4d. Section honey, Bs. , —Bushel and American Cases.— Australian oranges, 15s to 21s case. Australian mandarins, 26s case. Pineapples, 18s to 20s case. Californian lemons, 50s ease. Ripo bananas, 15s to 20s case. Apples; Jonathan and Delicious, 5s to 7s case; cooking apples, 4s 6d to 5s case. Pears, Winter Cole, half-cases, 3s case. , Cooking pears, wanted, 4s to 4s 6d case. —Per Half-case.— Passion Fruit, IGs to 19s case. —Per lb.— Local tomatoes; Firsts, Is to Is 2d lb; seconds, od to tld lb. Garlic, wanted, 6d lb. Brussels sprouts, 2d lb. Eschallots, 2fd lb. Butter, storekeeper, lOd lb. Bacon, rolls bacon, lOd to lid lb. Bulk honey, new season’s, 4-Jd lb. Beeswax, Is 2d lb. Honey, 101 b tins, 4s tin. BUSINESS 'PROSPERITY At a recent meeting of directors of J. R, M’Kenzio Ltd. it was decided to pay a bonus to all members of the staff who have been with the company for not less than six months. The amount .of £1,400 was voted to cover fliis itc..i.

£ s. a. Commonwealth bonds— 4 p.c., 1938 4 p.c., 1941 .?.■ 4 p.c., 1944 ... ... ... 100 17 101 17 102 17 6 6 6 4 p.c., 1947 4 p.c., 1950 f 4 p.c., 1953 ... 4 p.c., 1955 102 6 102 S 102 7 100 15 3 9 , 0 0 4 p.c., 1957 101 2 6 4 p.c., . 1959 ... ... ... 4 p.c., 1961 ■; ,••• 101 / 101 16 6 3 Australian Gas (A) 7 12 1 11 2 13 1 3 0 44 9 74 Toohey’s — Tooth’s ••• Associated News (pref.) ... Broken’ Hill Proprietary (new issue) • ••• o 16 6 6 0 44 44 Colonial Sugar ... 43 1Z Dunlops .••••• — — Goldsbrough, Mort ...... Howard Smith ... ... ••• 0 18 1 10 0 19 afternoon SALES. Lustre Hosiery .....•> ••• 1 4 9 Bank of New South Wales 33 17 G Comm. Bank of Australia 0 19 3 Colonial Sugar 44 z 6 9 Adelaide Steam 1 10 Associated News ... ... — 1 3 3 Associated News (pref.) ... 1 3 9 Howard Smith ... 44 Australian Gas (A) 7 IX 6 Berlei ... ••• 1 15 0 . Berlei (cont.) ... 0 6 Tooth’s 2 13 9 Toohey’s 1 11 44 0 G. J. Coles ... 4 4 Drug Houses _ ... ••• ••• i it 0 Dunlop Per ’au 0 18 14 Goldsbrough, --tort i 1U 6 Greater J. D. Williams ... 0 8 1 Electrolytic Zinc ... ... 2 0 3 Q Kandos ... ... ... — 1 2 O 0 Beard, Watson u io E. Fowler ... ... 0 13 9 Hume Pipe ••• 1 u 9 0 6 Mark Foy . 1 0 7 Australian Drug ... .;•• 14 Gibson and Howes 1 1U 0 and Smith 1 1 3 6 0 Gordon’ and Gotch ... ... 2 9 0 Victoria Nyanza 0 8 3 Wunderlich I 1 0 Broken Hill Proprietary ... 3 14 6 Broken Hill Proprietary 6 0 (new issue) ... ... ••• z ie Emperor ••• 0 14 Tavua Development u l 6 Mataki ... . o 3 6 Tanah Bijio ••• 0 16 0 Woolworths (ord.) — 18 19 0 6 Buyers ••• Sellers • •• ••• 5 5 Woolworths (New Zealand)0 0 Sellers ••• 6 MELBOURNE , July 3. Bonds were steady, and the inv estment market was strong rnd active. Barriers were neglected, but Fiji shares were active. d. /■ .. - £ s. Comm. Bank of Australia 0 19 2 National Bank (£5 paid) ... 7 *3 6 Adelaide Steam .. 1 10 6 Carlton Brewery 2 19 0 G. J. Coles ... ...i . i... 4 ;6 0 Aust. Iron and Steel (pref.). 1 6 '0 'Australian Glass 4 11 0 Dunlop Perdriau ... ... 0 18 4 Goldsbrough, Mort 1 10 '0 Electrolytic Zinc ... ... 2 0 3 Electrolytic Zinc. (pref.) 2 3 0 Mount Morgan 0 lo 3 Mount Lyell 1 4 44 Broken Hill Proprietary ... 3 14 0 Emperor 0 14 1 Loloma ... , 1 6i Myers 1 14 44 Kauti Timber .... 1 4 1 Hume Pipe 1 0 8