COMMERCIAL

Greymouth Evening Star, 12 June 1936, Page 8

COMMERCIAL

GOLD AND EXCHANGE.

fBT C ABT .re—PRESS ASSN. —COPYRIGHT.!

LONDON, June 11 Gold 138/9, dollar 502, franc 765.

ADDINGTON MARKET.

At this week’s Addington market sales on behalf of West Coast clients included:—Fat Cattle: Burorws Bros. (Ahaura), 3 heifers at £4/l</6 to 2/6; Te Kinga Land and Timber Coin pany, S steers at £lO/2/6 to £IV/ ’ and 8 steers at £7/12/6 to £9/«. • BUTTER AND CHEESE. Messrs A. H. Turnbull and Co., Ltd., report:—The butter market has mad. one of the most satisfactory advances experienced for a considerable, time, rising from 88/- at the beginning ot May, to the present level of 112/ per cwt. Messrs W. Weddel and Co., Ltd., cable us that the advance has been caused by the late spring experienced on the Continent of Europe, which has brought about a reduction in stocks in the United Kingdom. Added to this the rapid falling away ot Australian production has also strengthened the position. Perhaps the strongest factor, however, has been that the retail price of New Zealand butter has been kept at from lid to 1/- throughout the month, and this has maintained consumption at a very high level. With butter now quoted at 112/- ex the market it seems as though retail prices will have to be advanced, and it will be interesting to se whether this will have any effect on the present excellent consumption. Latest quotations give the market quiet at 112/-, but our principals advise that they anticipate a firm market. The stock position m London is very sound as, according to the latest figures supplied by the Imperial Economic Committee, the estimated total stocks were 16,000 tons as against 23,000 tons at the same time last year. Forward buyers have been showing very great activity during the month, with a strong demand for June-July-August shipment, and as high as 1/2 per lb f.o.b. has been paid. Cheese: The cheese market has advanced rapidly, very much on the same lines as butter, and prospects for the future certainly look bright. Messrs W. Weddel and Co., Ltd., state that the stocks in the United Kingdom and also the English production of cheese continues to be below normal and they, therefore, expect the market to remain firm. Forward buyers of cheese have been very active buying cheese unshipped to the end of season’s make, and as high as 6 has been paid. Just at the moment the market is reported quiet at round about 60/- per cwt.

STOCKS AND SHARES

AUCKLAND, June 12

Sales, morning call: Guarantee 5/5, Milne and Choyce 16/-, Brick 10/6, Commercial Bank 19/2, Mt. Lyell 24/5, P. and O. Stock 25/9, Bank of New Zealand (cum. div.) 45/-, D. Mortgage, ex div. 28/9, Zinc 40/-, 40/3, Broken Hill 71/9, Glass 93/9, Woolworth’s £9, Selfridge’s 25/3, Bycroft’s, cum. bonus 51/-. Noon: Mt. Morgan 15/3, N.Z. Newspapers 41/9, Zinc 38/-, Dominion Breweries 25/6, 25/-, Upper Watut 7/2, Stock 46/49 £lO4 2/6. WELLINGTON, June 12..

Sales: 4 per cent. Stock, 1955, £lO6, Woolworths Ltd. £5 11/6, Christchurch Gas 32/9, Union Steam 26/2, Coles <9/6, Woolworth’s N.Z. £9, Australian Glass 93/6, 94/-, Metter’s N.Z. 11/-.

DUNEDIN, June 12.

Sales: Woolworths (Sydney) £5 13/-. Reported: Bank of New Zealand £2/5/3, Broken Hill Proprietary (cont.) £2/9/- (2), Dominion Fertiliser £l/5/3 (late yesterday), Dunlop Rubber 17/10 (late), New Zealand Breweries £2/13/5 (ex-div.), Hume Pipe £l/0/2. After call: New Zealand Breweries £2/13/- (2), Gillespies Beach 1/1 (odd parcel). CHRISTCHURCH, June 12.

Sales: Goldsbrough Mort. (cum. div.) 32/1, 32/-, Kaiapoi (7/- paid) 5/11, Christchurch Gas 32/9, New Zealand Breweries (ex-div.) 53/2, 53/1 (2), Australian Iron and Steel 25/6, Beath and Co. 26/6, Broken Hill Proprietary (contr.) 48/9, 48/8, 48/9, General Industries 19/3, G. J. Coles 79/9, Hume Pipe (Aust.) 20/3, Skippers 3Jd, Mount Morgan 15/3, 15/4, 15/3 (2). Reported: Australian Glass (late sale 11th) 93/9, General Motors, Holdens (pref.) 23/6, United Provisions (late sale 11th) 14/3, Mount Lyell 24/5 (late sale 11th). Unlisted: Woolworth’s (Sydney, ord., exrights, late sale 11th) £5/10/-, £5 10/6.