COMMERCIAL

Greymouth Evening Star, 10 March 1928, Page 8

COMMERCIAL

GRAIN AND PRODUCE

(Australian & N.Z. Cable ABBOciation.)

SYDNEY, March 9.

Wheat at country stations 4/10, extruck Sydney 5/5-g. Flour; the export market‘lifeless, local £l2 15/, bran £6, pollard £7 10/. Oats—Tasmanian, Algerian 4/3, 5/, white 4/11 to 5/. Maize 3/9 to 4/-. Potatoes—Tasmanian £5 to £6 10s. Onions, Victorian £ll. ADELAIDE, March 9. Wheat, growers’ lots 5/3. Flour, bakers’ lots £l3 7/6; bran £6 15/; pollard £7 7/6; oats 3/3. AUSTRALIAN BUTTER SYDNEY, March 9. The wholesale price of butter has been increased by a halfpenny to 1/6J per pound. METALS MARKET LONDON, March 8. Copper £6l/3/lA and wire bars £66/15/-, electrolytic £66 10/- and £66/15/-, lead £2O/2/6 and £2O/10/-, spelter £25/5/- and £2.5/ 2/6, tin £230/7/6 and £232/12/6, silver standard 26 3-16 d, fine 28Ad. LONDON WOOL SALES.

Messrs Dalgety and Company Ltd, report having received the following cablegram from their London House, under date of March 6.— “The following vessels in which we are interested have arrived in time for the next series of Wool Sales opening on March 13. “Tongariro,” “Mahia,” “lonic,” “Matakana,” “Tamaroa,” “City of Winchester,” and “Port Fremantle.” We will sell on March 16, 23, and 27. Quantities available are: Australian 39,000 bales, New Zealand 41,500 bales, Cape, 2,500 baled, South America 22,000 bales, carry forward 13,000; total quantity available 118,000 bales. -

BUTTER AND CHEESE.

Copy of cablegram received by Dalgety and Company Ltd., from their London Office, dated March 9.—Butter: Market quiet during the week, now more doing. Danish 198/to 200/- (200/- to 202/-); N.Z. Finest 171/- to 174/- (170/- to 174/-); Australian Finest Unsalted 164/- to 168/(162/- to 166/-); Australian Finest Salted 164/- to 168/ (162/- to 166/-); Australian G.A.Q. 156/- to 160/- (154/to 156/-).

Cheese: Market firm. New Zealand White and Coloured 97/- to 98/- (96/to 97/-); Canadian White 100/- to 104/- (100/- to 106/-); Canadian Coloured 102/- to 106/- (100/- to 102/-).

Messrs A. H. Turn bull & Co. (Christchurch) report:—

The past month has been full of interest to dairy farmers. Unfortunately, many have suffered from the effects of the dry weather, but, whilst the fall in production has been severe and is to be regretted, the ill effects have been greatly lessened by the buoyant state of the London market, which quickly responded to the fall in production. As shown above, prices have advanced 10/- per cwt. in butter and 4/- per cwt. in cheese, since our last report of the 15th February and, moreover, “Market firm” is the latest report to hand. This movement has been brought about solely by the statistical position, the estimated quantities of all makes in store United Kingdom being only 5841 tons of butter and 3G75 tons of Australian and New Zealand cheese, whilst shipments are already showing signs of falling off, consequent upon the reduction in gradings.

Forward buyers of butter and cheese have again been very active and it appears as though many of the larger multiple shops have decided to cover their future requirements. Sale of finest butter' commenced at l/4£ and rose io 1/43 at which figure some fairly heavy sales have been made and even 1/5 is reported for local trade. More activity, however, has been experienced in cheese, sales opening for January to end of season’s make at 81d rising at short intervals to 9d per lb., at which price sales have been effected, but as there are large sellers at this figure, it is doubtful if there will be sufficient forward buyers to absorb the quantity now offering. On the Ist June next it is expected that the Duty on butter imported into Australia will be increased by fid per lb. and this will certainly curtail, if not altogether prevent, further sales for that destination. It remains to be seen whether buyers will cover requirements from New Zealand for export prior to June 1. On the other hand, Australia has had good rains and responds very quickly, so that it is probable that their late season production may be fully sufficient to cover their local requirements. Turning to the grading figures given below, we find, out butter production for February has fallen by 3400 tons as against January of this year and is lower than February 1927 by 1100 tons, equal to a 12 per cent. fall. The total gradings for seven months ending February 29, still show an excess over the same period last year of 4950 tons. In, stocks stored in New Zealand, however, there is a drop of over 54 per cent, being now 6,371 tons as against 13,800 at the end of February 1927. Certainly, last year there was tendency to hold back later shipments, on the part of some factories.

The cheese gradings for the month show' a decline of nearly 7 per cent, as compared with February 1927, whilst the quantity stored in New Zealand is lower by 32 per cent.

STOCKS AND SHARES. AUCKLAND, March 10. Reported sale : South British 58/3. NOTES By “INSIDER.’’ The general tone of the share market has been brighter this week. Many lines, especially the Banks and Breweries, have advancedin price. The turnover has been above the average notwithstanding that we are approaching bank balance, when investors generally sit tight. ’l’he Bank oi Australasia, following the example of the other banks, is about to offer more shares to their shareholders in the proportion of one to six. Price of these shares has increased to £l5 2s. Commercial Bank of Australia have been active round about 27/10. Bank of New Zealand have improved to sales at 59/1. Bank of New South Wales have also improved to £47 12/6, Unions are in demand at £l4 14/. Buyers are offering 58/1 lor South British Insurance sellers, sellers 6more. New Zealand are wanted at 40/6, Nationals at 15/7. N.Z. Breweries

were bought at 42/6, Staples are in demand at 37/3. British Tobaccos are wanted at 39/10. Colonial Sugars are in demand at £57 17/6, with sellers asking £5B 10/. N.Z. Drugs are wanted at 30/6 for ordinarys and 31/9 for preference.

M. J- FOGARTY AND CO., STOCK & SHAREBROKERS, Mackay Street ::: Greymouth. aF you have any money for Investment CONSULT US for reliable information. . . .

CHCH. STOCK EXCHANGE QUOTATIONS. Buyers. Sellers. DEBENTURES— f 8. d. .43 8. (1. 4J p.c. Inscr., 19.38 97 7 (l 97 10 0 4J p.c. Inscr., 19.39 97 0 0 97 2 6 41 p.c. Bonds, 97 2 6 5 p.c. 1927 100 17 6 101 □ 0 5| p.c. Inscr., 1927-41 98 10 0 5J p.c. Inscr., 1928 101 0 n 101 0 5J p.c. Bonds, 1933 101 0 101 10 0 54 p.c. Inscr., 1936 101 1 0 101 10 0 54 p.c. Bonds, 19.33 101 0 101 10 0 53 p.c. Chch. Gas, 1934 100 10 0 53 p.c. Chch. Hospital 99 0 0 99 10 7J p.c. Gisborne Sheepfarmer 1931 85 0 (1 89 0 ii N.Z. Breweries 1 •> 9 1 3 3 BANKS— ' Adelaide 9 r ([ 9 7 0 Aus. Bank- of Commerce 1 13 10 1 14 1 Australasia 15 0 0 15 3 0 Comm, of Australia ... 1 7 9 1 y 10 do. (pref.) (j 19 0 7 1 0 Comm, of Sydney 26 5 0 E.S. and A. 8 1 0 8 Q 0 National of Australasia .17 16 0 17 18 6 New South Wales •17 7 II 47 12 6 New Zealand 19 0 19 1 Union of Australia 14 14 0 14.16 0 Western Australia o 19 3 3 0 0 Bank N.Z. Mortgage ... 16 9 do. (fully paid) ... 1 1) 0 1 6 National of N.Z c 19 0 7 0 0 INSURANCE— National of N.Z. 15 6 15 10 New Zealand 0 7 2 0 11 South British o 17 9 o 18 0 Standard 3 1 0 Queensland - 15 3 o 16 6 LOAN AND AGENCY— Dalgety and Co 13 14 0 13 16 0 National Mortgage 3 13 0 4 0 0 Goldsborough Mort. o 9 3 2 9 7 N.Z. Loan and M. Co. 95 10 0 100 0 0 SHIPPING— lloward Smith 1 8 4 1 8 Huddart Parker o 9 0 Q 9 3 Union 54 p.c. Cum Pref.) 1 0 1 — 1’. and O. Stock 235 0 0 242 0 0 New Zealand 9 12 6 10 10 0 FROZEN MEAT— Canterbury 8 15 0 9 5 0 N.Z. Refrigerating 3 5 do. 20s paid 15 0 15 .3 WOOLLENS— Kaiapoi (pref.) 8 6 8 9 Mosgiel 6 15 0 7 0 0 COAL—

Westport Westport-Stockton 1 11 10 2 G 1 12 6 3 (i GAS— Christchurch Timaru 1 •1 1. 4 G — 1 2 9 Auckland 1 3 3 1 3 Wellington 1 1 7 6 Auckland BREWERIESJ 7 1 Crown 13 0 Ai a lining 19 9 1 (1 New Zealand 1 9 _J G Ward 1 14 0 Staples 1 17 4 1 17 G Monteith 1G G 19 0 Tooths CEMENTS— 4 G - 8 (1 Wilson’s 1 17 b 1 18 0 TIMBER— Kauri MISCELLANEOUS - 1 3 (i 1 4 0 Heath anil Co. 1 13 0 I 1.1 19 IJ British Tobacco I 19 9 I 11 Burns. Philp - 1 G — *- <> Colonial Sugar 58 0 0 58 .1 (1 Dunlop Rubber 1 a 8 1 G 9 Elect Zin.- Brel. 1 11 9 1 12 0 Holdens I 11 9 I 13 r* N.Z. Drug Co ; 9 3 o G N.Z. Farmers’ Co-op. < a 111 0 i 9 tl ii N Z. Sugar of Milk 1 11 1 10 (* Whiteombe and Tombs Dorn. Home Bldgs. a i 0 9 G D.I.C. (pref.) D.I.C. (ord.) 1 19 u 3 1 1 3 8 n N.Z. Guarantee Corp. . . Ou ill Morris *5 1 1 0 l G Crystal Palace 17 0 A uckland A musement u; (i 1 ! Victoria Nyanza mining- - 13 0 13 G Ml. Lyell • Waihi r 11) 1) 1 III 10 3 11 Blackwater ... ... Alexanders (fully paid) l.’l