COMMERCIAL

Greymouth Evening Star, 1 October 1930, Page 9

COMMERCIAL

GRAIN AND PRODUCE. [PER press association.] CHRISTCHURCH, September 30. There is very little business passing in the grain and produce markets. The potato section has recorded no change since the last report. It is' acknowledged that there are still a good many potatoes in Canterbury, but growers are not attracted by the prices offering. Prompts are worth £3/12/6 a ton f.o.b. 5.1., which is equivalent to about £2/10/- a ton on trucks to farmers. Dakotas are hard to quit, and reports from Wellington yesterday stated that prices had eased still further. Most of the forward business has concluded now and the speculation element is limited. The Karepo is due to sail for Auckland with a cargo of tubers to-morrow. She has on board 1586 sacks from Timaru. and is expected to take about 3000 sacks from Lyttelton. The oats and chaff business is also quiet. The values of chaff to-day is' £5 a ton on trucks. There has been a little enquiry for A gartons from the Northern ports and the quotations are: Dunedin 3/10. Timaru 3/11, and Lyttelton 4/-, all f.o.b. S.I. Bluff values remain at 3/7 to 3/8. In the other sections there is no animation, and no alteration to record. Bran and pollard have been reduced 10/- a ton this week. Pollard is quoted for shipping at £5/15/-. bran at £6 f.o.b. PUKEMIRO COLLIERIES [SPECIAL TO “STAR.”] AUCKLAND, October 1. At the annual meeting of the Pukemiro Collieries, a dividend of 3/- per share was declared, making the distribution for the year 25 per cent., compared with 35 per cent, last year. Mr. J. Catchpole (chairman of directors), stated that competition on the part of the Glenafton Collieries had been most acute, as that company was in the, position of being able to offer bettei’ inducements to customers, by reason of the fact that it was exempt from the payment of income tax. That anomaly had been freely ventilated of late, but so far it would appear that any protest against unfair competition in that direction was futile. Another big set-back was due to Arapuni coming into operation, when supplies of slack coal to the Auckland Power Board were immediately stopped. That proved a very serious matter, as some thousands of tons of slack had to be dumped, 6000 tons of which had been completely lost. The company had had the advantage of the stoppage of coals from the West Coast, as the result of the earthquake, and the complete cessation of supplies from Newcastle, 'owing to labour troubles, greatly helped to increase the demand. A fair amount 1 of business had been absorbed by new 1 companies which had come into opera- < tion since last year. The company had been able to subscribe its interest of £25,000 in Waikato Carbtonisating, i Ltd., without encroaching on the reserves. Unfounded rumours had been < circulated regarding a creep in the mine, and, notwithstanding the fact that they had been contradicted, the rumours were persistent. They were quite unfounded.

STOCKS AND SHARES. DUNEDIN, October 1. Sale reported: National Bank of New Zealand £4 17/6. AUCKLAND, October 1. Sale: Bank of New Zealalnd 50/-. Reported Breweries 43/3, 43/-. Farmers Auctioneering B pref 16/-, Commercial Bank 14/11, 14/9, Taranaki Oil 1/6. METALS MARKET. LONDON, September 29. A sharp relapse in base metal prices is recorded to-day. Tin eased by 60/per ton. Standard copper declined by 21/101 per ton. and lead by 18/9. Latest quotations are: Copper, standard £43 7-16, and forward £43 7-16; electrolytic £47 and £49; wire bars £49; lead £162 and £l6 3-8; spelter £l5 and £161; tin £127 15-16 and £129 9-16. Silver is quoted at 15 5-8 d per oz. and 17 15-16 d.