COMMERCIAL

Grey River Argus, 5 October 1934, Page 10

COMMERCIAL

(Per Press Associatiou.) D'UNEDIN, October 3. Mr L. M. Wright has received the following cabled report on the Colombo tea auction of October 2.—Common and medium teas advanced lid to 2d pe r lb at yesterday’s auction of 1,510,0001 b. Fine teas were also dearer at the close of the sale. The supplies coming forward are small, onlv 1.410.UOO’b being catalogued for sa e. It is anticipated that the market will advance further at the nex’t sale. NELSON, October 2. It was decided at a meeting of the Kotuku Oil and Goldfields Co. that, a„s the company cannot, by reason of its' liabi'it'ics, continue its business, .-'tops shou’d be taken Io wind up the company. and ilhat Mr P. S. Boyes be appointed liquidator for the purpose. RUGBY. October 3. The Swedish State Railway has just bought 30.000 tons of Northumberland DUNEDIN. October b. Sales reported: Bank of N.SW. £32 10b Bell Kilgour 3d, Big River 1/8. WELLINGTON. October 4. Sales reported: Bell-Kilgour 3d Sk'ppers 7d, Bendigo Goldfields Is, South British £4 15s, New Zealand Breweries £2 Bs. £2 8s 9d; Big River 1 /7 CHRISTCHURCH. October 4. On ’Change: ES. ai d A. Bank £5 6s 9d. Reserve Bank £6 9s 3d N.Z. Refrig. (]os paid) 9/3. Christchurch Gas 34s (2). New Zealand Breweries IS/6, 48/9; Tooth’s Brewery 47/10. Anh'.uiv Hordern 15/1. Aust. Iron and Steel (pref.) 2/6, Broken lli’J l\v. 52/2, Mahakipawa (1929 pref.) J/3. Mt. Lyell 19/4. Waih; (cum. div.) 35/3. Reported: Christchurch Trams 4} per cent. 1/2/57 £lOB Christchurch City C/ouncil 41 per cent. 1/12/56 £lO6 10s, Christchurch City Council 51 per cent. 5/1/45 £lO6 10s’. N.Z. Breweries 48/4, Broken Hill Ply. 52/3, Wilson’s Cement. 325. Big R ver 1/7bl. AUCKLAND. October 4. Sales: Bunk of New Zealand 48/9 South British £4 15s, E.S. and A. Bank £5 6s fid, Devonpnrt Ferry 245, Waihi 355, Ama'gamated Brick £lO5 Woolworth’s (Sydnevl £3 14s 3d, ' Sbu-k 1949 £lll 10s, 1955 £ll3 5s 1916 £lO9 5s Mt. Albert 4 J . 1963 £lO6 10-s Grand Junction 4'2. Gohlen Dawn 2/2, Mahakipawa lid. Skippers 7d, Be'l-Kilgour 34d • LONDON. October 3. ( old 1 12/2/ dollar !T2 : j. franc

WOOL SALES. LONDON October 3. At the wool sales, 9 586 bales v ere offered, including 2456 Nev Zealand. About 6.541 Australian .-mj New Zealand bales were sold The sales closed firm at the highest level of the series, Home and the Continent com petting keenly. Prices, ns compared with the July closing, were merinos, greasy. good 5 per cent.

lower topmlaking sorts 5 to 10, faulty TO scoureds good 10, faulty Ifl, crossl.rcds medium coarse, about par ttlipes, ditto, except Lalfbreds, which wore about 5 per cent, lower. A total of 10S 031 bales was catalogued. 50,500 were so'd to Home and 48,000 to the Continent. Tim total Australian sold was forly-sD thousand. and New Zealand HiiHv three thousand. New Zealand quar-ter-bred lamb slipe Wine Company top Hid. average 11.1'1. MELBOURNE. October 3.

{Stronger and wider competition with France and Japan ino<* active, produced a brighter and fi-mer market for -wool when the new salt's opened in Melbourne. f'»inpn ,, ‘' with the au'tions a fortnight ago good fleece necks and broken showed ar advance up to five per cent, and the

’oner lines of sk'rtines and bellies from 7.J- to 10 per cent. The enthusiastic bidding produced -i clearance of more thlan 90 per cert, of the 7000 hales offered. The highest price of the day was 11 bl t’or "liver combing merino wool. Comeback; made to 14 |d.

ANGLO-GERMAN TRADE HOLD-UP LONDON, October 3. The “Sun-Herald” service understands tfhut to-day’s Cabinet meeting after consideration of the Leith Ros--report, decided that the Dominions must conduct their own nego’iatioi • > with Germany, in connection with trade embargoes. A RESERVE BANK IN INDIA. RUGBY. October 3. The Indian Office announces: Ihe Government of India think t desirable that I hey shon'd state for the 'information of the pub!"'. the appruxi'ma/e programme of the stages b\ which they hope a R'*s’ :ve Bank wi'l he brought into existence. It is irtemlcd Hint, the Ilc#erv« Rank (should be formally consti* tiled «n,j members of the Central Board noni'nalef with effect from the begi' n.ing of 1935. It is hoped that the Board w'll find i’ practicable to issue shares early in 1935. Ou this assumption it should be possible* for the Bank on April 1 1935. to lake over 'h** Government account, to assume Its currency responsibilities, and take nvr the assets required for Hie Issue Department, as laid down in the Act. i‘ the ear’y stages of this progiammc ••an in fact be carried "Ut. am aiding to this plan, it : s intend- 1 t'-t the Reserve Bank should as*-ui»" its statutory functions in rel Tien to the schedule banks on, Jul.’ I 193), this being Hie date imsr mmvrnienl to the banks coiicerued ?’hc names of two Depifty-Governnrs aml inemers of Iho first Ce'iti i' Bauid v» ! be annoui ced in due eou ,, v. , 1 ami in JiTiv- case, as long as possible, before January 1 nex'. EDMONTON O-'ober 3. The Pri mie.r (Mr R. G. Ib-wD. of Alberta, to-day requested the Donrnion Government to assume Hdi control and responsibility for wheat futures trading. Mr Stevens replied th it the matter was already order con idcialien. Futures again declined.