COMMERCIAL

Greymouth Evening Star, 21 December 1936, Page 8

COMMERCIAL

LONDON MARKETS REVIEW. [BY CABLE —PBEBB ASSN. —COPYBIGHT.J LONDON, December 19. Christmas is likely to be the busiest for years, despite the recent crisis which less than a fortnight ago threatened to paralyse trade. London shopping streets are crowded, despite heavy rain. Directly the crisis was over business leapt forward as though impelled by a released spring. The large stores all expect more than to make up the slackening movement during the crisis. Another indication of returning prosperity is the heavy booking at holiday resorts. The optimism of the general public is more than adequately reflected on the Stock Exchange, which has put crisis thoughts aside and resumed buoyancy. Industrials came up about 3 per cent, during the week. Gild-edged were firm. Responsible city men consider that the present activity should continue into the new year. Of the commodities which held the limelight, rubber f touched lOd a pound for the first time since 1929. Though profit-taking brought back the price a fraction, there is no likelihood of a shortage. The official estimates of the Argentine wheat crop are slightly bearish. The indicated crop is 31,000,000 quarters, compared with 17,000,000 last year. Reports from America are that the winter wheat belt is also more favourable, but the drought remains serious on the Pacific north-west. The summingup of general opinion is that the peak at present has not yet been reached. Wool is also finishing the year in a most healthy condition. The consumption of most countries remains heavy. The best opinion is that the strong demand and steady prices are likely to continue for some time. Base metals continue their upward trend. The slight reaction in spelter lead early in the week is considered to be of little significance. Tin is likely to rise rather than fall. The only disappointing commodities have been cotton and dairy produce. The cotton trade was pessimistic throughout the week, particularly in - view of the fear of a strike in Lan-: 7' cashire, involving 110,000 operatives,: which, however, was settled on Satur- . day. Butter remains featureless. Import- . ers are seeking to stabilise the market, but there was very little business passing during the week. There is / no prospect of a recovery in view of pending arrivals. The prevailing weakness has affected Danish and other Continental descriptions. Lamb has been relatively stable, owing to moderate arrivals from Australia and South America. The undertone is satisfactory. Estimated stocks on November 30 were:—Australian 200,000; New Zealand 300,000; South American 250,000 carcases. The estimated consumption averages 260,000 carcases weekly. Chilled beef has fluctuate# in recent weeks, but a better tone is now prevailing. Fortunately supplies of Dominion chilled beef are not heavy. s. STOCKS AND SHARES. DUNEDIN, December 21. Sales: Mount Lyell 38/-, 37/9, cum. div., Bank of New Zealand 41/-. AUCKLAND, December 21. Sales: Renown Coal 10/9, Commercial Bank 19/-, Roller Mills 19/6, United Building 20/6, Selfridge’s, new 38/3, Coles 89/6, ‘Woolworth’s, Sydney £7 17/-, Harbour Board 1952, £lO5. Sales, noon: Bartholomew Timber

18/-; Bank of New Zealand 41/-; New Zealand Insurance 60/3, 60/-; Broken Hill 82/-; Woolworth’s Sydney £7 17/6. £7/16/-. CHRISTCHURCH, December 21. Sales: Commercial Bank of Australia 19/2, New Zealand Breweries 54/(2), Claude Neon (N.Z.) 33/-, Maori Gully 6d. Reported: New Zealand Breweries 53/10. WELLINGTON, December 21. Sales: Broken Hill 82/-, 82/6, 4 Per Cent Stock (1955) £lOl/5/-, G. J. Coles £4/9/6. SYDNEY, December 21. Sales: Bank of New South .Wales £35/15/-, Union Bank £lO/5/-, Tooths 55/9, Tooheys 34/11, Anthony Hordern 19/3, Associated News 24/7J, British Tobacco 48/6, Broken Hill Proprietary 83/3, New 71/-, Colonial Sugar £43 12/6, Dunlop Perdriau 18/-. Electrolytic 50/6, Morts Dock 13/5. MATAKI JUNCTION The Mataki Junction return for the four weeks ended December 17 was 311 oz. 7 dwL 9 grs. for 469 hours’ work and 95,500 yards dredged. NEW RIVER. The New River return is 34 oz. for 10.000 yards and 116 hours. MOSSY CREEK. The Mossy Creek dredge last week secured a return of 24ozs. 15dwts. from 8,600 yards of material in 127 hours. I WAIPAPA BEACH. DUNEDIN, December 21. Waipapa Beach return: 220 z 18dwt for 135 hours. WHITE’S ELECTRIC. The White’s Electric dredge at Barrytown is at present on previously worked ground, but it is expected'that new ground will be reached by tomorrow. For the fortnight ended December 11, White’s Electric recovered 9.50 z from tailings which the dredge has been working. | PUBLIC TRUST OFFICE. Statement for November: —Estates of a value of £433,361 were reported, and accepted for administration by the Public Trustee during the month of November, 1936, compared with £443,424 for November, 1935. The total value of the estates under administration by the Public Trustee on March 31, 1936, was £60,660,310, and the new business for the eight months ended November 30, 1936, was £3,923,291. Grants of administration made by the Court in favour of the Public Trustee numbered 133 for the month. During the month 347 new wills appointing the Public Trustee executor were deposited for safe custody by living testators and 272 existing wills were revised to provide for changes desired by testators. The total number of wills held in the Public Trust Office is 87,550.