COMMERCIAL.

Grey River Argus, 28 March 1928, Page 3

COMMERCIAL.

1 Share Market Boom CONTINUES AT NEW YORK. NEW YORK, March 26. The Stock Exchange again broke all records, with a total of sales! of 4,248,500 shares. Speculators sent enormous week-end accumulation of buying orders into the market, whirling the prices of several leaders into new high levels. General Motors again led the procession, more than half a. million shares of that stock alonq changing hands within five hours, and selling for new high level of two hundred dollars per share. At the height of the trading, shortly before the close, practically th c whole market followed an upward tripid. LOAN FOR FIJI. LONDON, March 27. The Crown Agents for the Colonies are inviting applications for a £765,0Q0 loan for the Fiji Government at five per cent., and 101, with redemption be tween 1946 and 1953. N.Z. SHARE MARKET. AUCKLAND, March 27. Sales, on 'Change: Northern Steam (con.), 7/2; Devonpqrt Ferry 24/9. Reported Waihi 11/-, Hill and Plummer 23/-, Commercial Bank 27/10, Bank of New Zealand 59/9, Union Bank, £l4 12/6. WELLINGTON. March 27. Reported sales: Union Bank of Australia £l4 13/-, P. and O. deferred stock £233; 5) per mint, inscribed stock 1933 £lOO 5/-. QUEENSLAND SUGAR INTERESTS. LONDON, March 27. The Hon John Huxhain. Agent General for Queensland, interviewed Sir Francis Floud, the Chairman of the Board of Customs and Excise, pointing out the extent to which Queensland would suffer under the proposed new polarisation of the sugar standard, and urged that Queensland's viewpoint deserved consideration. Sir F. Floud gave a uon-eommittal reply.

HOME METAL MARKET. LONDON, March 27. Copper is quoted £6l 8s 114 d and £6l 9s 4LI per ton; electrolytic £66 10s and £67; wire bars £67; lead £2O 2s 6d and £2O 10s: spelter £25 3s 9d and £25 Is 3d; tin £239 12s 6d and £238 17s 6.1. Silver is quoted: Standard 26 7-16 pence per ounce; fine, 28 5-I6d. DAIRY PRODUCE. Dalgcty and Co. report Having re ceivcd the following cablegram from their London House, under date of the 22nd instant: —Butter: We quote Danish 194 s (1945); N.Z. Finest Salted 172 s to 174 s (1735. to 1765); Australian Finest Unsalted 166 s to 168 s (166 s to 168 s); Salted 166 s to 168 s (166 s to 170 s); Australian G.A.Q. 160 s to 162 s (160 s to 1645). Market quint. Cheese: N.Z. White 99s (98s to 100 s); Coloured 99s (98s to 100 s); Spot Price for Canadian White 104 s to 108 s (104 s to 108 s); Coloured 1 4s to 106 s (100 s to 104 s). Market (Ljast week s quotations are shown in parentheses.) N.Z. APPLES AT LONDON. LONDON, March 26. The Tainui’s New Zealand apples sold as follow:—Worcesters Dunns 16s to 174, Alfliston’s 14s to 16s, Gravenstein’s 13s to 15s, Cox’s 22s 6d to 27s 6d. To-day saw the opening of the season for Australian and New Zealand apples, but. the market is no bettor than it was a month ago. In the next three weeks, a-quarter of a million boxes of apples from New Zealand and Australia will arrive in London, severely testing the market. “New Zealand’4 astounding progress in dairy exports should shortly be par allelcd 'by apple exports, which in 1928 will double .that of 1927,” said Mr Amery, on opening the exhibition of fruit at the New Zealand offices. “Tins is typical of the enterprise and efflciency with which the New Zealand Government and producers entered the Empire trade. Britain is endeavouring to co-operate through the Empire Marketing Board, urging Britons to buy more Dominions’ produce. This is not only an appeal to sentiment. It will react on British qxports. ” Mr Amery pointed out that every New Zealander purchased .thirty times more British goods than the average A ™fr l Amery was photographed eating an apple from baskets representing the first fruits of the season, with which he was presented by girls in blue cashes bearing the name of the provinces’ of Auckland, Hawke’s Bay, Nelson and Otago. Sir .1. Parr remarked that 69 Pm eent. of Britain’s fruit imports were foreign. He hoped that Mr Amery would co-operate with the Dominions in their efforts to secure the whole market, Canada supplying one part of the year and South Africa, Australia and New Zealand .the other parts. If New Zealand were enabled to secure a market at a reasonable price, it would double the area of orchards in the near future. , . Air Stephens, Chairman of the fruit Board, said the slogan was “sound fruit at reasonable price and continuity of shipments.” HOME WHEAT PRICES DOWN. LONDON, Marell 26. The market for wheat cargoes is dull ■and inactive. Prices arq mostly threepence to sixpence down. Parcels have failed to attract attention and are easier at 52s 9d. Liverpool futures are: March 10s 3d per bushel, May 10s 4 Id, duly IQs 6d.