COMMERCIAL

Grey River Argus, 21 April 1928, Page 8

COMMERCIAL

N.Z. SHARE MARKET. WELLINGTON, April 20. Sales reported: Five and a half per rent Inscribed Stock (1936) £lOO ss, Finance, Ltd (5s paid) 5s 6d, British Tobacco, Australia, ord £2 Os 6d. On ’Change: Bank of Australasia fractious 9s 6d, two lots. AUCKLAND, April 20. Sales on the ’Change: Bank of Australasia, fractions, '9s; Ohinemuri Mines 7s, Waihi Ils. GISBORNE April 20. The apple export I his season from Gisborne will reach over 24.000 cases, treble the highest quantity previously shipped. The Maimoa in May takes 11,000 cases. MELBOURNE. April 20. Wheat os 9]d to 5s 9LI on trucks, alongside steamer; ex store Melbourne lis 8-id. Flour £l2 17s 6d to £l3 2s 6d. bran £6 15s, pollard £8 10s, oats 3s 9,1 to 4s, barley (English) 5s to 5s 3d. Cape 4s 2d, potatoes £3 to £4 10s, onions £8 to £8 10s. Hides sale: The market was very firm excepting for badly conditioned parcels. Occasionally slight advances were recorded. CHRISTCHURCH April 20. An application for an order that Im-po-ial Timbers, Limited, should be wound up was consented to in the Supreme Court to-day at Christchurch. The application was made on behalf of certain shareholders and creditors. NEW YORK. April 19. Four millions share trading has so e ingested the brokerage offices with clerical work that the Stock Exchange Governing Committee voted to close the Exchange on Saturday, April 21, to permit firms to clear up the work. WASHINGTON, April 19. The Federal Reserve Board has approved of the establishment of re-dis-count rates of 41 per cent, for Boston and Chicago reserve banks, effective on April 29. The move is believed to bo a gesture to the Board to curb speculation. The New York Federal Reserve Board has made no change in the rate. BRISBANE. April 20.

An extensive field ot pearl shell has been discovered off Walker’s Bay, ten miles south of Cooktown. The pearl is of high quality. LONDON, April 19. Sir Erie Geddes, presiding at the annual meeting of the Dunlop Rubber Company, said that the Government was right in ending the rubber restrictions. but wrong in doing so without fuller regard to the interests involved. The industry should be given more than seven months’ notice to adjust itself. The restriction failed to give the manufacturers anything like stable prices. He hoped it will never be resuscitated. An anxious period will undoubtedly intervene, but he had no doubt the rubber industry as a whole would be sturdier, stronger, and more stable if allowed to manage its own OTTAWA, April 19.

During March, imports totalled more than a hundred and twenty million dollars, exceeding exports by thirteen million. For the fiscal year ended March 31st, however, exports exceeded imports by a hundred and forty millions, the total exports of Canadian products being 1,226",237,009 dollars. and foreign products 22,207,910, against imports 1,108,821,649.