COMMERCIAL.

Grey River Argus, 13 December 1928, Page 8

COMMERCIAL.

BRADFORD WOOL SALES. LONDON, December 10. At Bradford, top prices maintained the slightly improved undertone. COMPANY REPORTS. LONDON, December 10. The Orient Company, after transferring £150,000 to reserve. and £50,000 to reserve for pensions for m ployees, has a credit balance of £281,950, and .carry forward £69,560. The Sulphide Corporation, after providing £23,000 for taxation, shows a net profit of £125,180, of which £21,080 is carried forward. STOCK AND SHARE MARKET. AUCKLAND, December 11. New Zealand Breweries 57s 6d. Re-' ported: National Insurance 16s 4d, Commercial Bank ord 30s Bd, Bank of Adelaide -£lO. DUNEDIN, December IlReported sales: New Zealand Breweries 57s 6d (two parcels). CANADIAN LUMBER TO BE INCLUDED IN AUSTRALIAN TRADE TREATY. VANCOUVER, December 10. “There will be no difficulty about the eventual extension of Canadian and Australian trade treaty to include Canadian lumber and many other exports. but it is unlikely to come until there is something nearer a trade balance between the two Dominions,” Sir Mark Shelton declared to-day. He warned the Canadians about talking so much about small shipments of Australian butter coming to Canada. He added that Australia feels Canada has had the long end of the stick, and had this even before the present treaty became effective. The unfavourable balance against Australia is gradually

bcing rectified, but it will take time. As to more lumber men looking f> preference in the Australian market, he suggested that they should try to extend Australian trade with Canada generally, as other exporters are doing. STOCK AND SHARE MARKET. WELLINGTON, December 12. Sale, call, Bank N.S.W. £5O 10/-. Reported sale: British Tobacco Coy 45/-. DUNEDIN, December 12. Reported sales: New Zealand Breweries, late sale yesterday 58/-; Bank of Australia, £l4 14/6; sale on the ’Change: Bank of Australia, £l4 15/6; New Zealand Breweries Ltd. 58/- (five parcels). AUCKLAND, December 12 Sales: Waihi 14/5; British Tobacco 4/-. Reported: North Auckland Farm ers’ ord. 3/-: Kauri Timber 19/3; Kaiapoi Woollen 13/10; Renown Collieries 15/6; Auckland Gas 23/5. HEAVY WHEAT CROPS. SYDNEY, December 12 Wheat farmers near Forbes are aver aging eleven bags per acre, which i« regarded as a State record. Crop re turns in most wheat areas in NewSouth Wales are up to expectations There are, however, some places where less than an average rainfall has caused greatly diminished yields. SOUTHLAND WOOLLEN MILLS SHAREHOLDERS’ PETITION UPHELD. DUNEDIN, December 10. Holding that there existed sufficient grounds for exercising his. statutory discretion that it was just and equft able that the Southland Woollen Mills, Ltd., be wound up, Mr Justice MacGregor has made an order in favour of the petition of shareholders who asked that the company :hould cease operations.

His Honour said he was not satisfied that the delay—nearly four years—in commencing business, had been sufficiently explained. The final result or all this backing and filling was that the original project had been abandoned and a new scheme projected by the Gore directors to work a worsted mil: :■ gainst the wishes of the majority of the shareholders. His Honour commented on the fact that after the result of the referendum became known petitioners’ solicitors requested the directors to refrain from further action until the petition was disposeo of, but the directors cabled to Sydney for an e timate of a complete plant ot worsted machinery. ARAHURA FAT STOCK SALE. Messrs M. Houston and Co. report: At the above sale on Monday, our entry consisted of 44 head of fat cattle, which were submitted to a good attendance of buyers. Prices realised were on a par with those of the previous sale for good medium weight steers and heifers, whilst heavy ox and cow beef were slightly lower. Good ox and heifer beef sold from 37/- to 4(1/per 100. whilst cow. beef realised from 32/- to 36/-. We sold as follows: — On account of W. A. Jamieson, 1 bullock at £l5, 2 at £l4, 2 at £l4 10/-, 2

cows at £9. 2 at £7 10/-, 1 at £9, 2 at £B, 2 heifers at £lO 2/6, 1 at £lO 15/-, 2 bullocks at £l3 10/-, 2 at .£l3, 2 at £l3 10/-; on account of C. and L. R. Gibb, 1 steer at £9 10/-; on account of P. Sullivan, 2 cows at £8 Id/-; on account of H. Qlderog, 9 store steers at

£8 10/-. The special Christmas sale will be held at these yards on Wed nepday, 19th Decembei, at 1 p.m. sharp. At Rotomanu on Tuesday, 110 cattle and 60 fat sheep were offered, sales being: On account D. Henry, 22 well grown forward store steers at £lO apiece: account James Henson, 18 forward store steers at £B, 12 medium steers at £6; account A, Haste, 4 grown steers at £7 17/6, 6 two-year steers at £5 2/6, 10 yearling steers at £3 15/-, 6 store cows at £5 apiece, 2 cows and calves at £5, 1 Friesian bull at £2; account M. Shaffery, 3 forward steers at £9, 2 ditto at £B, 2 fat cows at £9 5/-, 2 ditto at £8 15/-, 1 runner at £6 15/-; account Charles Cowan, 1 fat cow at £ll 12/6, 1 heifer at £7 12/6, 1 forward cow at £5 10/-, 2 18-month heifers at £4 7/6; account W. Vallanfffe, 1 two-year fat heifer at £9, 1 two-year heifer at £7 12/6, 1 medium heifer at £5 15/-; account Robert Thompson, 1 fat jersey cow at £6 10/-; account H. E. Hodgkinson, 4 weanej- steers at 51/-, 6 weaner heifers at 48/- apiece; account James Ryan, 1 pen of shorn fat wes and wethers at 26/3. Another pen of similar sheep were passed at 27/9, the price not reaching tjr ownci’s reserve. LONDON QUOTATIONS. LONDON, December 8. Wheat cargoes are inactive. Indian demand for Australians is- likely to continue. The undertone of the market is steady. Parcels received little attention, except for low grades, which declined threepence. Liverpool fu tures: December 9s OJd, March 9s l|d, May 9s 2 3-Bd, July 9s 3|d. LONDON. December 8. Wheat cargoes are steady at late rate . India is still inquiring for Aus tralian distant positions, but actua< bidding is slow. Parcels are neglected. Liverpool futures: December 9s 0 7-BJ, . March 9s 1 5-Bd, May 9s 2Jd, July 9s 3 5-Bd.

U.S. FLUCTUATIONS. NEW YORK, December 7. Stocks developed an acute weakness to-day, breaking anywhere from eight to nineteen points. The market suf fered violent fluctuations. It opened weak, then rallied, and later broke ■harply towards the close. Call mone> was renewed at 10 per cent., and de clined to 9 per cent. Radio Corpora tion moved violently between 403 an. 376, and closing 19 points off yester day’s price. There is acute weaknes. in steel Common, which caused anxic ty. the volume o f trading being heavy