COMMERCIAL

Grey River Argus, 13 August 1936, Page 3

COMMERCIAL

(Per Press Association.) CHRISTCHURCH, August 12. Sales: Broken Hill Proprietary 73s 1 3d, 74s (3), Dunlop Rubber 18s 4d (2), Electro Zine (pref., cum. div.) 43s 3d (2), General Motors Holdens pref. 255, G. J. Coles 79s 3d, 79s 6d, Hume ’ Pipe (Aust.) 20s Bd, Woolworth’s (N.Z. pref.) 375. Maori Gully 7d (3), Mount Morgan 13s lOd (3), 13s lid, 13s 10d, 13s 103 d, Upper Watut 6s 2d. Unlisted: Woolworth’s (W. Aust.) £5 16s (2). Cereal quotations are:— Pollard: Large £5 15s a ton; small £6 ss. Bran: Large £4 15s; small £5 ss. Wheat: Milling grade for July delivery. Tuscan 4s 93d, Hunters 4s 11-3 d." Pearl 5s 13d, good whole fowl wheat, prompt 4s 53d f.0.b.; undergrade to 4s 3d f.o.b. Oats: A Cartons to 2s 9d, B cartons 2s 6d. Algerians to 2s Id, Duns 2s 6d. Chaff: £3 to £3 5s per ton. Barley: Feed 2s 3d to 2s 4d a bushel. Potatoes: White £4 5s a ton, Dakotas £4 10s a ton. Onions: £3 a ton. AUCKLAND, August 12. Sales, morning call: Golden Crown 4s 6d. Renown Coal 13s, Broken Hill 74s 3d, Drug 78s. Glass 92s 3d. Woolworth’s £5 Bs, Brick (Auckland) 73 per cent. £lO2. Sales, noon: Farmer’s Auctioneering 14s. Kaiapoi 14s lOd. Devonport Ferry 21s 9d, Zinc 41s 3d. Pref. 43s 73d, Ilenrv Jones 43s 43d. DUNEDIN, August 12. Sales reported: Associated News (pref.) 23s 6d, Woolworth's (Sydney) £5 18s. £5 18s 6d. WELLINGTON. August 12. Sales: Broken Hill 745. British Tobacco £2. Mt. Morgan 13s lid, Woolworth ’s Ltd. £5 18s 6d. LONDON, August 11 Gold 138/6. dollar 502 3-8, franc 76 9-32. "The Times” understands that British interests have acquired the do minating control of the Mosul oilfields through the medium of the Iraq Petroleum Company. The Ministry of Agriculture expresses the. opinion that the preflie tions of famine in wheat are unnecessarily alarming. It says the world’s surplus is sufficient for needs, even if the worst fears tire realised. N.Z. Butter Price GUARANTEE NOT DUMPING. (Ans. & N.Z Oa hie As«n. LONDON. August 11. The New Zealand High Commis- . sioner’s Office, replying to the National Farmers’ Union statement says that the guaranteed prices of New Zealand dairy produce are actually considerably below the London market prices. Moreover it points out that the guarantee is givon by the New Zealand, not the British Government. ARGENTINE BEEF COMPETITION. LONDON, August 11. The "Guardian” states that Argentine is resentful of the free admission of Dominion beef, and would agree to three-farthings levy on Argentine, if the Dominions were subject to a farthing levy, as originally contemplated. Britain's denunciation of the trade agreement amounts to a polite form of pressure on the Argentine.

PACIFIC SHIPPING RIVALRY. (Aust. & N.Z Cable Assn ) LONDON. August 11. Shipping circles discount reports of immediate developments in the Pacific shipping position. The P. and O naturally are fully behind Mr Beatty’s efforts to expedite a solution of the problem, but emphasise the matter is at a standstill, pending a report of the Imperial Shipping Committee, which is not likely to be presented till after the holidays. The situation so far as the British Government is concerned, is unchanged. The action will largely depend on what the'committee reports. LONDON, August 10. Stressing the need to protect British farmers against the dumping of surplus New Zealand dairy products, the National Farmers’ Union points out to the British Government that guaranteed prices for New Zealand cheese and butter exceed the present London market prices, and the average in recent years. DEPARTMENT’S REJOINDER. WELLINGTON, August 11. When the British National Farmers’ Union protest to the British Government against the dumping of surplus New Zealand dairy produce in Britain was referred to the Primary Products Marketing Department, it was pointed out by the Department that the guaranteed purchase price of butter at 12 9-16 pence f.o.b. was equal to the London price of 106/6 and the London market price of butter to-day was 118/-. so that the guaranteed price could be said to be 11/6 below the present London value. In the ease of cheese the guaranteed purchase price of 6 13-16 pence f.o.b. was equal to the London uricc of 61/3. The London market price of cheese to-day was 64/- so the guaranteed pree for cheese was 2/9 cwt. lower than the present London market value.