Commerce, Mining, Finance

Evening Star, Issue 23497, 10 February 1940, Page 15

Commerce, Mining, Finance

HEAVY SUPPLY OF JAM PLUMS RASPBERRY SEASON NEARLY FINISHED DESSERT PEACHES INQUIRED FOR Bray Bros, report:— In the Otago district the only wheat crops that have been threshed are in the Central. Here again the wheat is up to the average standard of quality. South of Dunedin the crops are not yet cut, and it will be a month or six weeks before threshing commences. Provided the weather conditions continue favourable, record yields should be obtained in some of the southern districts.

The 'advanced prices to be paid to farmers by the Government will be the same as last year, based on a value of os 6d per bushel for Tuscan, grower's nearest port, for the initial months. Business in the fowl wheat market is on the quiet side. Transactions in the distributing trade are mostly confined to small lots ex the store at values ranging from 6s 3d to 6s 6d a bushel, sacks extra. Wholesale prices are as follows: Flour.—2oo's, £l3 15s 6d; JOO's, £l4 2s 6d; 50's, £l4 17s 6d; 25's. £ls 7s 6d. Bran, £5 5s a ton. Pollard, £G 15s a ton. Oatmeal.—2oolb sacks, £23 10s a ton; 255, £25 10s a ton. An occasional inquiry is being received for, oats for shipment to the \orth Island. Stocks in the stores arn on the light side, with A Cartons worth :is Id to 3s 4d a bushel, f.0.b., s.i., according to quality. Odd lots of 'autumn-sown oats will shortly appear on the market. . Business in the chaff market is limited. Supplies are hard to secure, but, on the other hand, the demand is small. Prices remain unaltered from last week. Potatoes are in full supply. The returns from kitchen gardens have this year , been considerably higher , than "usual! and this is affecting business in the wholesale trade. The main crop 'will not be ready for digging until March-April. The main crops are looking well, and blight has not so far shown its presence to any extent. The threshing of ryegrass has been proceeding in Canterbury, but further south it has been held up owing to breaks in the weather.

In the meantime there is no material alteration in the prices of perennial and Italian ryegrass. The cocksfoot market is firmer following bn reports that the coming season’s crop will be a poor one.

Reports from Southland state that the fescue crop is cut, and that it will not be long before offerings are plentiful. The white clover market continues firm, and supplies are wanted for autumn sowing. The eowgrass market is firm. Some odd sales of certified machinedressed brown top have taken .place, bn a, basis of Is per lb. There is at present little inquiry for this seed from overseas.

POOLING OF APPLES AND PEARS. During the week business has been brisk in the fruit markets, but prices have been disappointing for both fruit and vegetables. Pears and apples have been in good supply, many growers sending their fruit to the markets in on endeavour to make sales before the Government marketing scheme (which took effect from February 5) came into operation. As a consequence, many lines of immature pears and apples had to bo sold at lower rates than would have been the ease had the fruit been allowed to mature before marketing. The Government scheme now in operation means that all apples and pears will be forwarded to a store in Dunedin and will then be distributed to the markets to be sold on behalf of the Government. It is > understood that a : mini mum price will be fixed from time to time by the Marketing Department, and the brokers will sell to the best advantage. All consignments will be pooled, and the previous connections between growers and brokers will now practically cease to exist. Low prices are ruling for jam plums, which are in heavy supply. Choice dessert sorts, however, are bringing payable prices. rtioli prices are being realised for nectarines, but supplies are insufficient to meet the demand

Moorpark apricots are in keen demand, with satisfactory prices being obtained for odd lots arriving. Jam quality peaches are slowof sale, but choice dessert sorts are inquired for. The next shipment of bananas is not expected till the end of the month. A small shipment of Jamaican oranges arrived during the week. The fruit was much sweeter than the previous shipment. The tomato market eased quickly in the face of heavy supplies of outsidegrown tomatoes, which came chiefly from Canterbury. • The quality of the outside-grown: so far._ is disappointing, as many of the consignments contain tomatoes with hard green tops. The quality should improve as the season advances-. The weaker market for out-side-grown has affected the market for hothouse tomatoes, and these were offering at fairly low rates during the week. The strong winds during the weekhave done a lot of damage to the raspberry crops at Pine Hill, and growers there report that the season, so Far as they are concerned, is practically- finished. Vegetables are in heavy supply, with low prices riding. Many growers continue to send in heavv snpplies'dcspite the low values, and their returns must show them a loss. Wholesale prices are as follows: —• Carrots, 6d a dozen. Tjettuce, Is a ease. Spring cabbages. Is Od a case. Kags, market rates. Tomatoes. —Christohurch, 3d to srl lb; locals, Cd to 8d lb. Potatoes. —Locals. 2s 6d a case. Peas.—Waimate, 2Jd to 3d lb. Peaches, 3d to 4Jd lb. Apricots, 4Jd to 5Jd lb. Cherry plums, 3s to 4s 6d a case. Apricots.—Large, 6s to 7s 6d a case; small, 3s 6d to os a case. Peaches.—Large, 4s to 5s a case; small. 3s a case. Plums.—Dessert, os to 8s a case; jam, 2s :i case. Raspberries, lis to 12s Cd a bucket; 10s Cd to lis (id a tin. Ni-'-tariues, 4d to 3d lb, 6s to 7s a case.

GOLD PRODUCTION IMPETUS REFLECTED IN OUTPUT WORLD FIGURES OVER EIGHT YEARS The impetus given to world gold production in the last decade is reflected m the output for 1939, which is estimated at 39,300,000 fine ounces, says an exchange. This easily surpasses the previous record production of 36,750,000 ounces in 1938. During the past seven years, a period of increases in the price of the metal, world production has risen by slightly more than 60 per cent, —World Gold Production. —

Though the proportion of world gold produced within the British Empire fell from 69.5 per cent, in 1932 to 56.2 per cent, in 1936, it had increased again to 57.4 per cent, in 1938, a rate which would have been at least maintained last year. Canada and Australia have been among the countries showing the largest relative increases for several years. South Africa’s share is approximately one-third of the world total. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, February 9. Business on the Stock Exchange today was mostly round late rates, with a hesitant undertone.

DIVIDENDS AND CALLSThe following is a list of shares on which dividends will shortly be payable:— N.Zt Insurance —Interim. Is a share Feb. 14 Woolworth (Sydney), Ist pref—--10 p.c p.a ... Feb. 15 Woolworths (Sydney), 2nd prcf. —7 p.c. p.a ... Feb. 15 Christchurch Gas. final, 4 p.c. ... Feb, Electrolytic Zinc. ord. and pref.— ' Interim 12 p.c. p.a.' ... ....■ ... Mar. 15 CALLS. Woolworth Properties, new final, 10s a share ... Feb. 29 Dunedin Brewery and Wilson Malt Extract Co. Ltd., final call. 5s per share ... Mar. 1 A C. 1.. new, 5s a share Mar. J 1 FRUIT CANNING ANOTHER LICENSED INDUSTRY In the ‘ Gazette,’ issued February 8. fruit and vegetable canning is announced as a licensed industry

CANTERBURY GRAIN LITTLE ACTIVITY SAVE IN WHEAT [Per United Press Association.] CHRISTCHURCH, February 9. There is little activity in any line except wheat fn the Canterbury grain, seed, and produce markets. Wheat continues to come forward freely. A few Dun oats, for which merchants’ quotations are unchanged at 4s 3d to 4s 9d, have been offered, but» not many samples of Cartons are reported. Nearly all the cocksfoot so far submitted has been poor, and it looks as though growers may have difficulty in disposing of light-weight seed this Season. Merchants are still offering up to 5s 6cl and higher for best samples of Italian ryegrass, aml from 5s to 5s 6d for perennial, but many growers seem content to withhold supplies in tbo meantime. White clover is unchanged at Is to Is 6d. The potato market remains inactive, with merchants still offering £3 10s and growers disinclined to break £4. BRITISH CARS AUSTRALIAN IMPORTS INCREASE WAR MONTHS HO DETERRENT A total of 70,033 new motor vehicles were registered in Australia during 1939 (says an exchange). According to a summary of the official monthly returns from all States compiled by Mr J. S. Strong, Australian representative of the Society of Motor Manufacturers and Traders, London, there were 52,995 new cars, including light commercial vehicles built on oar-type chassis, and 17.048 trucks, lorries, vans, and buses. The returns disclosed a notable increase in cars of British origin, which accounted for 44] per cent, of the total registrations Mr Strong said the number of chassis shipped to Australia from Britain during the first three months of the war was larger than in.ant similar period previously. Unassembled car chassis were 31 per cent, more than in the corresponding period of 1938. COMPANY NEWS HUDDART PARKER DIVIDEND The Stock Exchange Association has received advice that, subject to audit, the dividend on Huddart Parker pref. shares will be 3 per cent, and the dividend on the ordinary shares 7 pet cent., payable on March 16. MINING NEWS MOUNT MORGAN PRODUCTION Mount Morgan advises that the estimated production for the four weeks ended February 7 is 5.6270 z of gob! and 360 tons of cooper. During the period, 369 tons of mister copper were produced. FOREIGN EXCHANGES Press Association—By Telegraph—Copyright LONDON, February 3. (Received February 10, at 1 p.m.) New York, dollar to £1 -LO3 Paris, franc to £1 U6js Montreal, dollar to £1 ... ... 4.45 Amsterdam, florins to £1 ... ... 75.45 Switzerland, franc to £1 17.90 Stockholm kroner to £1 ... ... 16.90 Athens, drachmae to £1 -540 Lisbon, escudo to £1 16.80-^ Kobe, pence to yen ... ... ... 14 Hongkong, pence to dollar D 29-32 Shanghai, pence to dollar 4J Brussels, belgas to £3 25.875 Rome, lire to £1 ■ ... ••• 24.175 Tobio, pence to yen 20.37 Copenhagen, kroner to £1 ... 20.56 Milan, lire to £1 ... 78.50 Oslo, kroner to £3 17.70 Argentine, pesos to £1 ... ... 17.30

(In fine ounces.) 1932 24,301,000 1936 33, ,109,000 1933 25,335,000 1937 34. 783,000 1934 27.295,000 1938 36, ,750,000 1935 29,584,000 1939 39, ,300,000

—Morning Sales.- £ a. d. Toohevs J 8 (i Tooths - 13 9 Australian Gas (A) 7 0 G Australian Consol. , Indus. i 17 3 (cont.) 0 15 10i Broken Hill Pty 2 9 0 Electrolytic Zinc ... ... 2 18 3 —Afternoon Sales. Comm. Bank of Australia 0 15 1 Colonial Sugar ... 50 7 6 Burns, Pfailp British Tobacco 2 13 6 2 9 9 Dunlop Perdriau (pref.) ... r 14 fi Consolidated Industries ... i 17 3 ’ (cont.) 0 15 10 Electrolytic Zinc 2 13 3 Mount Morgan 0 9 8 Broken Hill Pty 2 9 3 (new) 1 0 0 Oil Search 0 5 3 MELBOURNE, D'e aruarv 9. National Bank (£5 paid) ... 6 4 0 Australian Paper Mfrs. (pref.) 1 4 6 Felt and Textiles 1 19 4 Imperial Chemicals (pref.) 1 2 8 Broken Hill Pty 2 9 I Mount Lvell ... ... i 14 4 Loloma i 15 0 Emperor 1. ... 0 15 8