COMMERCIAL

Greymouth Evening Star, 28 January 1929, Page 9

COMMERCIAL

COTTON COMBINE

(Australian Press Assn. —United Service.) (By Cable—Press Assn.—Copyright.)

LONDON, January 26. Preliminary negotiations are complete for the promotion of a Lancashire Cotton Corporation, which has been registered- There will shortly be issued the first debentures. The Bank of England is temporarily supplying the necessary finances. Sir Kenneth Stewart is the first Chairman, and the Directorate includes Sir James Cooper. An advisory committee is being formed to arrange for the taking over of the cotton companies. the Corporation expects to acquire at least one hundred mills, and seven to eight spindles in 1929. NEW ZEALAND LOANS. WELLINGTON, January 26. The position regarding New Zealand loans maturing during the next few years was briefly stated by Sir Joseph Ward to-day. He said that a statement had been published commenting on the effects of the New Zealand’s maturing loans on the Dominion’s London borrowing. The amount of loans maturing had been quoted at eighty million, and that statement might convey the impression that debt to that amount had been renewed in the London market. “As a matter of fact,” said Sir Joseph, “apart from the maturing of 29 millions of loans in 1929-30, a considerable portion of which had already been disposed of, there are no London loans falling due in London either in 1930-31 or in 1931-32. The loans that are maturing in these years are held locally and thus they will not our overseas borrowing policy.” STOCKS AND SHARES. WELLINGTON, January 28. Sales, on the ’Change: N.Z. Guarantee Corporation lord.), 8/6. Reported sale: British Tobacco, Australasia (ord.), 50/9. DUNEDIN, January 28. Sale reported: Bank of New Zealand 62/6. BUTTER AND CHEESE. Copy of cablegram received by Dalgety and Co., Ltd., from their London office, dated January 25: — Butter: Market quiet. Danish 188/to 190/-; New Zealand finest, 180/- to 184/-; Australian finest unsalted, 184/to 188/-, salted, ISO/- to 182/-; G.A.Q., 174/- to 173/-. Cheese: Market very slow. Australian white, 90/- to 91/-, Coloured 91/to 92/-; New Zealand white, 91/- to 95/-, coloured, 93/- to 94/-; Canadian white, 106/- to 110/-, coloured 106/-. to 108/-. TALLOW.

Dalgety and Company’s report from London, January 23:- — 834 casks Tallow offered, 200 casks sold, prices unchanged, market quieter. There will be no public sales next week. FROZEN MEAT. Dalgety and -Company’s report from London, January 24: — Lamb: N.Z. Prime North Island Lamb 28/361bs lOd; 36/42, lOd; second quality 9d. Market weaker, demand limited. Mutton: N.Z. Prime Canterbury mutton, 48/56 7d; North Island mutton 48/56 63d; Canterbury mutton 56/6 1' 63d; North Island 56/64, 61d; Canterbury 64/72, 63d; North Island, 64/72, 6d; Canterbury Ewes 48/64, 53d; North Island 48/64, sd. Market dull, demand runs principally on heavy weights. Australia Lamb: G.A.Q. Aust. Lamb, 28/36, 9d; G.A.Q. Aust. Lamb 36/42, 9d; F.A.Q., Aust. Lamb. 28/36, 8d; Third, Aust. Lamb 71d. Market steady, demand runs principally on finest qualities. Australian Mutton: G.A.Q. Aust, mutton 40/60 5Jd; F.A.Q. Aust, mutton 30/55, sd; Australian Ewes 4.3 d. Market unchanged, demand limited. Beef: N.Z. Prime Ox beef hinds 43d, fores 33d; Argentine Chilled hinds 6£d, fores 4id. Market unchanged, demand quiet. Pork: English porkers 60/1001bs Ud, N.Z. Porkers 80/1001bs, 7id.