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Grey River Argus, 21 August 1934, Page 2

COMMERCIAL

(Per Press Association.) DUNEDIN, August 20. Sales reported: Westport Coal 19s 2d. T..:ito Saturday: Goldfields Is 3:|d; Bell-Kilgour 4:]d; MO'Onlight-Nelson C. sd. Sales on ’Uhange: Milburn (’enient 345. AUCKLAND. August. 20. Sales: Northern Steam ron. Is 3d; Goldfields Dredging Is 4d, Is 4|d; Rcn. wn Goal 3s fid; Consolidated Brick 78s fid; 'Talisman Dubbo 12s 3d; Kuala Kanipar Ifis <><|; Waihi £1 Ils fid; Breweries 435; Bank of New Zeal:: ml 475. Unlisted: Woolworths (Sydney) 70s. WELLINGTON. August 20. Sales: Pour per ucn'. Bonds, 1940 £lOB ss; 3j, 1941, £lO4 15s; Wellington Woollen ord. £5 13s. CHRISTCHURCH, August 20. Sales on ’Change: N.Z. Guarantee Corp. 4s 7d; Kaiap’oi Woollens (17s paid) 12s 9<l; Evans Atlas Flour 425; Quill Morris (in liquidation) 2s 4d; Big River lid (3); Glenroy Is lid (3) ; Golden Point 3d (2); Mahakipawa (pref.) 1930 issue Is 24d; Mr. Lyell 20 s sd; Aloon light Nelson (’reek 4d; Nokomai 3s 3d; Workshop Extended Is S.’.d; Skippers 71d. Reported: Dunedin Breweries 275; Mt. Lyell 20s 7d. A reduction in the price of flour and wheatmeal uf 10s a ton and of 20s a ton for smaller packings is announced, the new prices to take effect from to-day. The revised prices are:—Flour, 200’s £l3 2s; 100’s £l3 7s; 50’s £l3 12s; 25’s £l3 17s. Wheatmeal 200’s £l2 2s; bran, large £4; small £4 10s; pollard, large £5 10 s; Mnall £fi.

LONDON MONEY MARKET. LONDON. August IS. As is usual for mid-August, there is not much .activity on the Stock Exchange, but prices generally were well maintained although British funds were oc+'assionally inclined to weaken slightly. An interesting item is the resumption of foreign lending, a Norwegian pulp company having placed £1,150.00!) five and a-half per cent, debentures at 98. This is the first foreign issue since the Treasury placed the embargo on the London market. Another interesiting item is the sharp advance in Guinness Brewery shares. The butter market is still suffering from the effects of too heavy supplies. Though consumption continues to be exceedingly large, importers find it impissible to get their higher prices and an improvement seems unlike.y until the heavy stocks in cold store, now amounting to 1,885,234 boxes, are reduced. Stocks of Australian and New Zealand butter are certainly being lessened gradually, but heavy arrivals from Russia tend to keep up the total. Much of this Russian butter (some importers say about 78 per cent.) is now coming in boxes of the New Zealand shapes instead of in casks as formerly. U.S.A. FARM INCOME HIGHER. NEW YORK, August 19. The “New York Tinies’s”'Washington correspondent states that tentative estimates indicate that despite the ravages of the drought the aggregate national farm income for 1934 will exceed last year’s by over one billion dollars, or about twenty per cent. The preliminary figures which have not yet been officially released by the Department of Agriculture mention a total of 5.950 million dollars, compared with 4,868 million in 1933. The total, however, includes about half a billion dollars in bounties granted by the Government from the processing taxes on wheal, cotton and other basic crops.