COMMERCIAL

Grey River Argus, 13 October 1936, Page 7

COMMERCIAL

(Per Press Association). AUCKLAND, October 12. Sales, morning call: Brick 10 Waihi 10s 8d; Dunlop 17s 2d; Ley’an O’Brien 21s 3d; National Bank 59s 6d; Drug 76»; South British 89s 9d: Stock 52/55, £lO6 ss; British Tobacco 4.4 s C<l. . Sales, noon: Weist port-Stock ton pref, 2s lid; DuiFop 17’s 2d; T’ariners’ Trading 10s;.Mt. Lyell 31s -Id; Bank of New Zealand 39s 3d, 39s Id: Broken Hill Con. 58s; Rights 2s 5d 2s 6d; Henry Jones 43s 9d; Queensland Insec. 60s 6d; Bank of New South Wales £32 15s; Stocks 37/40 £lOl 12s 6d; 43/46 £104; 46/49 £lOl5. CHRISTCHURCH. October 12. Salop: Ciomm. Bank of Aust. 18s 2d; Goldsborough Mort. 33s Sd; Br'tisli Tobacco 44s Cd (9): Consolidated Brick 10s Id; Big River Is Hid; Mi. Lvo’l 31s 3d; White’s Electric lOd (2); Woolworth’s (Sydney, ord.) .£■"> I.ls (2). WELLINGTON. October 12. Sales-. National Insurance JBs lOd: Leyland O’Brien 21s -Id; British Tobacco 44s 7d; Mt. Morgan 14s 8d (2); Unofficial; 'White’s Electric lOd. DUNEDIN. October 12. Sales: Oomin. Bank 18s 3d; Goldsborough Mort. £1 13s (Id; Mt. Lye.ll £1 Ils 3d (three). Reported late Saturday: Broken Hill South £6 4s; Mt. Lyell £1 10s lOd. LONDON, October 10. Butter declined earlier in the week when Australian -was at 100 s but later recovered. The demand is slow, and it is not expected that America w>li make sufficient, demand to assist prices. Cheese is slow. The enquiry for Australian .amt South African eggs is good owing to light arrivals, which have been well cleared.

LONDON MONEY MARKET. LONDON, October 10. A busy week in the security markets ended with a generally firm undertone. Gilt-edged securities were subdued owing to the attitude of Russia regarding Spanish non-interven-tion. This also checked the repatriation of French capital from Britain, and affected the foreign markets. Industrials were* marked up heavily rtf mid-week owing to general optimism regarding the international financial situation, and also because celling of French securities has been

smaller than many expected since the devaluation. Mr Chamberlain's optimistic speech was also an influence, but profit-taking occurred. The buoyancy of the markets is expected to help new issues, of which three this week were heavily over-subscribed. Interest in shipping shares has revived owing to a rise in freight, which is believed to indicate that shipping is on the threshold of increased prosperity owing to surplus tonnage having been drastically reduced in the last four years, and Io increased movement of cereals and minerals owing to universal rearmament. There is at present a widespread demand for tonnage on time charter, for which the rates are about 4/6 to 4/9 a ton a month for a tramp of about 8000 tons deadweight, compared with 2/6 to 2/9 carlier in the year.