Commerce, Mining, Finance

Evening Star, Issue 23723, 2 November 1940, Page 9

Commerce, Mining, Finance

FRUIT BUSINESS INCREASING

EARLY SUMMER VARIETIES VEGETABLES TEMPORARILY SCARCER Reilly’s report fair business during the week, with increased supplies coining to hand. In apples the market is being kept supplied with Sturmers and Delicious, and for these there is a fair inquiry. Large supplies of cut flowers continue to arrive, with little improvement in values. Navel oranges are now finished for the season, and Valencias are being received. A further shipment of these is due to arrive shortly. Lemons are in short supply. A further shipment, however, is arriving soon, and should relieve the position. Australian grapefruit which arrived last week met with a good inquiry, supplies being taken up immediately by retailers. A small shipment of Queensland pineapples also sold readily. Bananas are to arrive soon, and a small parcel of Island kumeras also will come to hand at the same time. Fair supplies of Christchurch and local hothouse tomatoes have been arriving, and market values have been fluctuating, prices being a little higher this week. Increased consignments or gooseberries are coming on to the market. Rhubarb has a fair demand. Fresh vegetables have had a very good inquiry during the week, and supplies are short of requirements. Lettuces, cabbages, and cauliflowers are netting higher values, the dry weather having, affected supplies. Consignments of local and Nelson new potatoes are increasing, and for these there is a fair demand. Only small consignments of green peas are arriving from Waimate, and values are keeping firm. Asparagus has also been in rather short supply, with a firming in prices. Canterbury onions have shown a considerable firming in values, with limited supplies arriving. Carrots and parsnips are meeting with a more satisfactory demand at higher values. There has been ho change in the values of eggs.

GRAIN AND PRODUCE

I QUIET PERIOD IN OATS LITTLE INTEREST IK WHEAT Bray Brothers report:— Little interest is being shown in the marketing of wheat. Only an occasional line of milling wheat is appearing on the market, and millers are prepared to secure any odd lines offering. There is still a fair quantity of fowl wheat on offer on the local market from Southland. Sales have been made of Southland-grown lines to North Island ports at 5s 6d, f.0.b., s.i. Wholesale prices for flour, etc., are as follows: — Flour—2oo’s, £l3 15s 6d; . 100’s, £l4 12s 6d; 50’s, £l4 17s 6d; 25’s, £ls 7s 6d. Pollard, £6 15s a ton of 2,0001 b. Bran, £5 5s a ton of 2,0001 b. Oatmeal —2001 b sacks, £27 14s a ton; 251 b loose, £29 4s; 251 b packed in sacks of eight, £29 14s. Little business is passing in oats and stocks are now very light. Inquiries, for odd parcels are being received from the North Island on a basis of 4s lOd, f.0.b., s.i., for X Gartons and 4s 7d for B's, Millers are still prepared to buy oats suitable for their trade. The volume of business in chaff is small. The nominal value to-day is £6 10s a ton, sacks extra, for the best quality. There is no change in the potato market, which continues stagnant. Supplies are in excess of the demand, and it now seems hopeless to expect any outlet for the surplus. With the favourable weather the new season’s potato crops should be earlier than usual. , . The wholesale seed markets remain quiet, with little alteration in prices. The chief business is confined to retail sales. FRUIT AND VEGETABLES.

A further shipment of Valencia oranges is due soon. The lemon shortage was relieved by a small consignment reaching Dunedin yesterday. Small supplies only of apples are, now available, and are meeting a steady demand. Sufficient stocks are held in the local cool stores to keep the market going until early December. There will be no importation of Canadian apples this season. High prices were realised for a small shipment of Queensland pines, which arrived during the week. Bananas are still unobtainable in the wholesale maids, further supplies are expected soon. Hothouse tomatoes eased in price early in the week following on increased supplies arriving from Blenheim, Canterbury, and local glasshouses. Rhubarb is in good supply with a steady market. Prices for cauliflowers continue high. Cabbages are plentiful. Choice quality lettuces have a keen demand at high prices. Supplies are not equal to the demand. The dry weather early in the season affected the errowth of lettuces, particularly in the North Otago district, where many crops have had to be ploughed in. Green peas from Waimate are offering in small lots. Locallygrown new potatoes are more Dleutitul. North Island-grown are slow of sale. New season's carrots are now commencing to reach the market. Wholesale prices are:— Cauliflowers, 12s to 16s a bag. Lettuce, 3s to 3s 9d a dozen ; Is 6U to 2s small. . , Carrots, Is to Is 3d a dozen. Cabbages, 3s-to 4s a case. Onions, 13s to 18s a bag. Spinach, Is to Is 6d a dozen. Swedes, 2s a bag. Asparagus, 10s to 12s a dozen. Peas, 7d to 8d per lb. Local potatoes, B|d per lb. Potatoes, £3 to £4 a ton. Gooseberries, 6d per lb. Rhubarb, 2|d to 2Jd per lb. Eggs, market price. Pineapples, 34s to 38s a case. Tomatoes — N elson, Is lOd to 2a per lb Christchurch, 2s 3d to 2s per lb; locals, 2s 6d to 2s 7d per lb. , Lemons, oranges, bananas, and apples are at Government fixed prices. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph Copyright SYDNEY, November 1. (Received November 1, at 11.45 p.m.) Retail stores shares exhibited strength on ’Change io-clay, hvvL the investment market was otherwise unchanged. Morning Sales. —Toothy, £2 12s; Associated News (pref.), 18s 6d; Australasian Paper, £1 13s 6d; Australian Consolidated Industries, £1 17s 9d; Australian Consolidated Industries (cont.), £1 4s 9d; Broken Hill Proprietary (ex div.), £2 4sj Cumberland Paper, £1 11s 3d. . Afternoon Sales.— Commercial Bank ot Australia, 14s 8d; Commercial Banking of Sydney, £l9 16s; National Bank (£lO paid), £l2 ss; Australian Provincial Insurance, Bs»6d; Tooths, £2 12s; British Tobacco (New Zealand delivery), £2 10s 3d; Felt and Textiles, £1 15s 7d; Felt and Textiles (rights), 14s 6d; Felt and Textiles (New Zealand delivery), 14s 6d, 14s 4d; Lustre, £1 Is 6d; W. H. Soul, £3 10s: Mount Lyell. £1 9s 3d MELBOURNE, November 1. Consolidated Industries, £1 17s 6d: Drug Houses, £1 8s; Dunlop Perdriau, 19s 9d: Loloma, £1 3s 2d; Emperor, 10s Id.

CANTERBURY MARKETS SEED PEAS IN STRONG DEMAND [Per United Pkess Association.] CHRISTCHURCH, November 1. Trade in the grain and produce markets is still very quiet, with few alterations in prices. Merchants report that the demand for seed peae and barley has been strong, although it is tailing off now. The trade in peas has been particularly good, but the quality of barley which has gone out appears to be about the usual. Onions are still very firm at £l4 to £ls a lon. COMPANY NEWS BROWN, EWING AND CO. The annual meeting of shareholders of Brown, Ewing, and Co. Ltd. was held on Wednesday, the chairman of directors (Mr A. F. Cheyne) presiding. Announcing the payment of a dividend of 5 per cent., free of taxes, to both preference and ordinary shareholders, Mr Cheyne sail] that the year had been the most Successful since 1926 —the year of the Exhibition. Like all other companies, the firm had had to meet heavy commitments, and over half the year’s, profits had gone in taxation. Mr Cheyne expressed the hope that during the coming year further improvements to the shop would be made. Mr P. O. Smellie seconded the motion for the adoption of the report and balance sheet, and several shareholders expressed pleasure that a dividend had been declared this year on ordinary shares. Appreciative references were also made to the work of the staff and the general appearance of the shop. The retiring directors, Messrs P. O. Smellie and G. Buckley, were re-elected. Votes of thanks were passed to the directors* the management, and the staff. MINING NEWS BULDLO DREDGE. For the month of September the total gross production of the Bulolo dredge amounted to 22,574 ounces of bullion containing 15,575 ounces of fine gold from 1,790,000 cubic yards. The estimated working profit was 7,407 ounces of fine gold. NGAHERE DREDGE. The Ngahere dredge return for October was 869 ounces from 319,623 yards in 514 hours. DIVIDENDS AND GALLS The following is a list of shares on which dividends will shortly be payable;— Bank of Adelaide —Interim, 5j per cent, per annum Nov. 5 N.Z. Paper Mills—lnterim, 3 per cent. Nov. 15 National Bank of Australia Ltd. —lnterim, 6 per centl per annum Nov. 27 Bank of New ord., Is a share, Long D, 3$ per cent ... Dec. 1