COMMERCIAL

Gisborne Times, Volume LXXIII, Issue 11952, 24 May 1933, Page 2

COMMERCIAL

LONDON WOOL SALES

FIItM TONE AND BRISK GOAIPE-

TITION

(L.P.A. by Elec. Tel. Copyright) LONDON, May 22. At the wool sales, 9708 bales were offered, including 5718 from New Zealand, and about 574 S bales were sold. The toll'd continued firm, and there was "brisk competition, offerings being readily cleared at full late rates. New Zealand sales: Scoured merino Llaldon, top price, 191 cl, average lS.ld; greasy crossbred, Waikolni, 9-fd osd. The Bradford market is very firm. STOCK AND SHARE MARKET (L.P.A.. by Elec'. Tei. Copyright) SYDNEY, May 23. Stock Exchange salt's this morning woreV Bonds,' 4 per cent. =1938,. .£lO3 ss; Bank of Australasia, £lO 15sAssociated News, pref., 18s 7kl;'Toohey’s Brewery, 21s 9cl. (Press Association) .. AUCKLAND, May 23. Sales on Change: Auckland Gas, 23s 3d; Wilson’s Cement, ofs 3d'; Bank of New Zealand, 45s 6d ; New Zealand Insurance, 48 s Gd; Kemp-t-borne Prosser, 65s 3dColonial Sugar, £56 10s; Government Stock. 4 per cent,, 1940, £IOO 7s Gd. WELLINGTON, May 23. Sales reported • 54 per cent. ’Wellington City, 1949, £IOO 10s; 54 per cent. Wellington Harbor Board, 1940, £IOO 15s. CHRISTCHURCH, May 23. Sales on Change: Government 4 per cent, (inscribed stock. 1955,' £IOO 7s 6cl; Commercial Bank of Australia, pref., 14s 7d; Commercial Bank of Australia, pref., £8 16s; English, Scottish, and Australian Bank, £4 11s; Bank of New Zealand, cum. div 45s Gd (2); Union Bank of Australia £7 18s; New Zealand Breweries, cum div., 29s 8d; Electrolytic Ziiic., ord., 18s.. 4d.; New Zealand Farmers’ Cooperative 4) per cent, stock, 1940, £46; Nokomai, 4s lid; Waihi Grand Junction, cum. div., 3s lOd. r ‘ Reported sales: New Zealand Refliberating, £1 paid, 12s; New Zealand Drug. Co., 65s Gd. DUNEDIN, May 23. Sales on Change: Waitahu, 7s (3). Reported sates • Kildare, ’2s Id; Okarito, 11s 3d; Lawson’s Elat, Is old.

OKARITO GOLD DREDGING CO. (Press Association) DUNEDIN, May '23 The directors of the Okaritd 'Gold Dredging Company have declared dividend of 10 per coni,., payable on Juno 16ARMY MEAT CONTRACT N.Z. FIRM’S SUCCESS. MASTERTON, May 20. Cabled advice has been received that Thos. 'BortHwiek and. Sons, Ltd, have been successful ‘in obtaining part of a meat contract to supply both beef and mutton to units 'of tho British Army on’ the Mediterranean stations, which, include Gibraltar, Port Said and M-alttU The contract •'secured by the" firm calls for 300 tons of meat, all of which will be supplied 'from New Zealand. FROZEN (MEAT TRADE. .. IMPROVED TONE OF La MB MARKET. POOR DEMAND FOR MUTTON. ■ • PRICES CLOSE STEADY. The tone of the lamb market greatly improved with an advance in prices for jn spite of lower prices The demand for iwetlier mutton is poor. Thja civo mutton market is qipct with trade slow. The beef market is meetingwith a slightly bettor .demand. The market for New Zealand porker pigs is quiet with a poor demand, but tho market for baconers is unchanged with trade slow. . . f ■' • Tho • aboy© report was- rcpciycd on Saturday by the Meat Board . flora its -London office. '■< ft y / /■:■ - ’ y . ■

DOMINION: LAMB

A GLASGOW TRIBUTE-

' Writing- to a Glasgow journal last month, a corresodtide.it made the following (reference to New Zealand iaiiib:— <f As for New Zealand lamb, it is .universally considered the highest grade imported into Scotland. In price, it is a little higher than any other imported, but- actually the housewife save’s money in its purchase because the joints arc small, it cuts up with a minimum of waste and it has not too much fat. The. New Zealand farmer has* bred his sheep for the British market. The lamb carcases arc small, compact, and the ideal for the thrifty housewife. Just at present the milk-fed lamb is on the market, for the first new season’s supply lias only tins month arrived. “The Dominion's mutton and lamb now so famous in this country,' is . treated under the . urcAt ■favourableconditions. Animal disease is virtually unknown in New Zealand, and pot a single carcase can leave the country without being subjected to careful inspection before and alter being frozen.’’ DAIRY PRODUCE. LONDON MARKET DEMAND . .QUIET. Little change was seen in the London butter market last week. Friday’s official closing quotation for New Zealand being 78s to Sis, compared with 78s to 80s the previous week. The demand, however,.- was. quiet, and one report stated that the market was easier at the close, finest New Zealand butter offering at 795. Retail prices '-'ere unchanged. New Zealand at lOd and Danish at Is per lb. The Empire Marketing Boards estimate of stocks of all butters was 987,573 boxes, compared with 460,.-43-1 boxes a year ago.

N.Z. BREWERIES LTD. DIVIDEND REDUCED TO 7 P.C. New Zealand Breweries, Limited, advisdd the Stock Exchange Association on Saturday that the directors have decided to recommend to the annual meeting of shareholders the payment of a dividend of 31 per cent for the pe.ricd ending March 31, 1933, making 7 per cent, for the year, and carrying nothing to reserve. Tho dividend paid in. 1932 was 8 per cent., and in 1931 121 per cent. THE PRICE OF HIDES. Tho relationship which exists between low prices and. high tariffs is once again being exemplified' by the price of bides (says the “"Wanganui Ghroiicile”). There has been increased .activity i'll the purchase of hides' of late, chiefly, it is 'believed, on American account.' There is a. belief that the Roosevelt Administration will reduce the duty on hides which are imported into America in the near future, And this ho-, lief appears to he" responsible, for increased buying activity in Now Zealand. Hides were admitted .free of duty in. 1872, hut became subject to a duty in 1897, were made free again in 1909, and remained fbeo in the tariff revision cf 1922, hut when the gmoot-llawley scramble was on a 10p’or cent-, duty Was imposed on hides imported into America, despite the fact ' that America “ could hot hopo to supply her needs from the do mestic scoufee"; “ r/ ‘