SLACKER MARKET

Evening Star, Issue 23423, 14 November 1939, Page 12

SLACKER MARKET

THOUGH VALUES HARDEN WVERNMENT SCRIP IN DEMAND „ There was a slackening of interest on the local investment market this morning, though values generally were firm and in some cases tended to harden. Only one sale was reported, Bruce ordinary issues turning over at 16s. One feature was the healthy condition of Dominion Rubbers, which maintained their firm trend. Government loan issues-continued to be in demand, ns were also .banking shares. JNew Zealand* word still wanted at £2 le, and sellers reduced .their offers by 3d without any business being Nationals were steady at £2 3s 9d (buyer). There-has been a ready inquiry for coal scrip lately, and they were also firm. There was practically no activity in Australian industrials. Broken Hills eased slightly, with a seller at £4 3s 9d. New Zealand lines, like Milburn Lime, New Zealand Drug, Dominion Fertiliser, and ordinary 'W<x»lworths, showed no change. SALES REPORTED. —This Morning.— 5 Bruce (ord.), 16s. —Late Yesterday.— Taranaki Oil, 6s 6d.

CITRUS FRUIT REGULATIONS

WHY PRICE PER DOZEN WAS INSTITUTED [Pea United Pkess Association.] WELLINGTON, November 13. It is apparent that considerable misunderstanding still exists among retailers of citrus fruits regarding the application of the recently gazetted regulations relating to the sale of oranges, lemons, grapefruit, etc. _ Commenting on the position, the Director of Internal Marketing (Mr F. R. Picot) made the following statement: — “ The regulations apply throughout New Zealand to the sale by retail of all citrus ' fruits. It should be clearly understood ; that the regulations fix only the maximum selling price, and that retailers may sell at or below _ the maximum, but not above. Retailers may calculate the maximum prices by adding 40! per cent, (or two-fifths) to the cost of A the fruit at their shops (which includes transport) and divide this sum hy the number of dozens contained in the count stamped on the end of the case, “ All displays of citrus fruits must be ticketed, showing the price ■ per doAcn, while orange tickets must also bear the count, and lemon tickets the count and grade, shown on the original package. soon; .become conversant with the . size of the various counts, and will really (that thelarger the numericallifiigiife, Shown as ‘ count the smaller will be the fruit. It was necessary to _ cause - citrus fruits to bo sold at a price per dozen because the practice of selling at a number per shilling was not sufficiently elastic to reflect small alterations in the wholesale price. Taking an extreme example, if a case of oranges containing 10 J- dozen (126 count) were sold at four a shilling, the price would equal 3s per dozen. To sell five oranges per shilling it would bo necessary to lower the wholesale price approximately 5s per case. On the other hand, the retailer could not reduce the number to three per shilling unless the price rose approximately 5s per case. Now that oranges are being sold at a price per dozen an alteration by a sum so small as Is per case in the wholesale price of the above count should bo reflected in the price per dozen retail.” Mr Picot stated that all retailers ere now expected to be conversant wfkh the regulations, and that in the near future inspections will be made to ensure that they are being carried out. AUSTRALIAN STOCK EXCHANGES PMGCS HOLDING WELL

SEARCH FOR GOLD Okarito Return. Messrs W. A. Mitsonand Co., secretaries of the Okarito Five Mile Beacn Gold Dredging Company Limited, report a wash-up of 21oz for 126 hours dredging. Mataki Dredge. The Mataki return for the week epdod November 10 was 240 z for 126 hours from ll,3ooyards.

SYDNEY, November 13. Trading on the Stock Exchange today was quieter, in keeping with oversea markets, but prices are holding well. —Morning Sales.— d. £ «. Toohoy’s ... . 1 8 0 Tooth’s 2 10 6 Austral Gas (A) 6 19 0 'Anthony Hordern 0 14 9 Australian Consolidated In0 13 8 dustries (cont.) Broken Hill Proprietary ... 3 12 6 David Jones ... 1 15 6 Drug Houses 1 6 0 —Afternoon Sales.Bank of New South Wales 26 17 6 (N.Z. delivery) ... ... Comm. Banking of Sydney 18 10 0 Colonial Sugar 48 0 0 British Tobacco ... 2 7 6 Coles 3 10 0 Woolworths ... 1 2 6 Consolidated Industries ... 1 16 3 Consolidated Industries 0 14 0 (cont.) Dunlop Perdriau 0 18 10 Dunlop Perdriau (pref.) ... 1 10 10 Standard Cement 1 2 u Broken Hill Proprietary ... 3 13 1. 6 1 10 3 Sogth Broken Hill ... ... 3 Arahnra ... 0 Kanieri 1 11 6 Electrolytic Zinc 2 16 3 MELBOURNE. November 13. National Bank (£5 paid) ... 6 3 0 National Bank (£10 paid) 12 8 0 Consolidated Industries ... 1 16 1 Howard Smith ... ... ... 1 2 9 Electrolytic Zinc (pref.) ... 2 17 0 Mount Lyell 1 9 0 Emperor 0 10 1 Loloma 1 4 7