COMMERCIAL

Greymouth Evening Star, 23 June 1928, Page 8

COMMERCIAL

GRAIN AND PRODUCE. (Per Preus Association.) CHRISTCHURCH, June 22. There has been less business done this week than last, but potatoes are still bringing good prices. As inudh as £6 5/- f.o.b.si. has been paid for June delivery, this figure being also paid for July delivery and £6 10/- lor , July-August-September. This time,)) last week the f.o.b.s.i. price for June delivery was £5 15/-. The price paid to farmers on trucks is up to £5. but for Dakotas, as much as £6 is being paid, owing to the demand for class of tuber setting in from Wellington. The Waipiata got away for Auckland today with a fair quantity of potatoes aboard. The following quantities of potatoes were despatched from Lyttelton for the North for the week ended on June 16Auckland 1163 (total since beginning of season 67,335 sacks); Wellington, 3647 (29,817); Napier and Gisborne 3159 (10.073) ; West Coast, North Island 1654 (22,659) ; West Coast, South Island, 1897 (5,533). Onions are quieter at present, probably because of the arrival of a Victorian shipment at Wellington. Some parcels of wheat have changed hands during the week, 5/6 being paid for second quality and 5/8 for Best. Oats are slightly firmer. A t Grade Gartons being worth 4/2 f.o.bs.i., and B Grade 3/9. The Rimutaka is taking a quantity for London and a further lot will be shipped by the Tainui next week for Bluff.

Business in seed has been quiet during the week, with no particular movement in any line ,and last week s figures will hold good in most cases. There has been an advance in Chewings Fescue owing to America having come into €he market and purchased large quantities on the basis of lid f.o.b.s.i.

BUTTER AND CHEESE. Copy of cablegram received by Dalgety and Co., Ltd., from their London office, dated June 22 : — Butter. —Market quiet but firm. Danish 172/- to 174/- (172/-) ; New Zealand finest 174/- to 176/- (172/- to 174/-); Australian finest unsalted 164/to 168 '- (162/- to 166/-); salted 162/-to 166/- (160/- to 164/-); G.A.Q. 156/- to 158/- (154/- to 156/-). Cheese. —Market quiet but firm. New Zealand white and coloured 103/- to 104/- (102/-); Australian white and coloured 99/- to 100/-; Canadian white and coloured (new season’s) 99/1 to 100/- (white 112/- to 116/-) ; coloured 110/- to 112/-); c.i.f. 101/- to 103/(100/- to 101/-)

STOCKS AND SHARES. DUNEDIN, June 23. Sales reported: Union Steamship pref. 20/3. WELLINGTON, June 23. Sales reported; Auckland Gas 23/4, Taranaki Oil 11/-.

(Notes by “Insider”). The Stock Exchanges have had the usual flow of business this week with prices unaltered except in a few instances, chief of which is the Bank of N.S. Wales, whose shares moved up to £49 12/6, a rise of 20/- over last week. Bank of New Zealand are now selling ex-dividends, and have been quitted at 59/- and 59/3. Union Banks have been sold at £l4 19/-. Commercial Bank of Australia (ordinary) are a shade easier at 29/7.

N.Z. Insurance are wanted at 42/-; other insurance shares show no change.

Dalgety’s are moving along sales made this week at £l4 10/-, against £l4 16/6 last week. Goldsborough morts. are wanted at £2 10/10. Brewery shares are standing same as last week. British Tobacco are on the improve with sales at 43/8. Colonial Sugars are slightly easier with buyers at £59 5/-.

A recent cablegram from London stated that a company had been registered to take over the New Zealand business of the Dunlop Rubber Company. This is explained in a circular issued to shareholders by the directors of the Australian Company, in which they are invited to sanction a proposal that, notwithstanding the provisions of the agreement of last September between the Australian and the English companies relating to the registration of a New Zealand company, the Australian directors shall have authority to sell the whole of the New Zealand business and assets as a going concern to the English company. The Australian board has recommended this course in preference to the original scheme under which the English and the Australian companies were to have equal interests in the New Zealand company. Since its inception in 1922, the Australian Glass Manufacturers’ Company has annually shown an increase in profits. The amount for the year ended March 31 was £184.597, as against £179,358 in the previous year. The 9 per cent, preference dividend absorbed £15,750, and the usual 10 per. cent, on ordinary capital £93,047. ''The directors have added £55.000 to reserves and carried forward £72,031, an increase of £20,800.