COMMERCIAL

Grey River Argus, 27 April 1937, Page 6

COMMERCIAL

(Per Press Association.) CHRISTCHURCH, April 26. Sales: Comm. Bank of Aust. 19s 7d (3), Bank of New South Wales (cum div.) £,T7 ss, W’esiport-Rtoekton Coal Is (pref.), Broken Hill Proply. (cum d’v.) Sis 9d. Unlisted: Woolworths (Svdncv ord.) £7 4s (id. AUCKLAND, April 26. Commercial Bank 9s Sd. Mt. Morgan 15s 91d. Bank of New Zealand 14s (id Bank of New South Wales 47s 10d, Farmers ’ Fort iliser 21 s. Unlisted: North Invest. 5s 9d, Nat. Tobacco (pref.) 28s (id. DUNEDIN. April 26. Sales: Bank of New Zealand £2 4s ■id (4), Broken Hill Proptv. £4 2s 3d (2), £4 2s 271. WELLINGTON, April 26. Sales: G. J. Coles £5 Bs. Colonial Sugar £45, Mt.' Morgan 15s Sd, Broken Kill Pty. 82s 6d. N.Z. TRADE WITH AUSTRALIA, (Aus. & N.Z. Cable Assn.t CANBERRA. April 13. New Zealand has been somewhat perturbed by the latest trading position which shows that although the Australian favourable balance amounted to £2.216.562 in 1935-36 for the six months ended last December, there was a further favourable balance for the Commonwealth of nearly £2,000.01)0. Over the ten years ended last June the accumulated balance in Australia’s favour aggregated £15,315,972. A review of trade relations between Australia and New Zealand with the object of securing a new trade agreement will be undertaken by representatives of both Dominions this year. The main point to be discussed will be the removal of the New Zealand embargo on Australian oranges. The New Zealand Government has informed the Commonwealth that it is willing to take action along, these lines as soon as certain trade negotiations now being conducted in England by the Minister for Finance, Mr Nash are completed. Imposed in January, 1933, the embargo has meant a severe loss to Australian citrus fruit growers. In 1930 the total export of Australian. oranges to New Zealand amounted to 90,000 cases in 1931, and 155,000 eases in 1932. Since then exports have been confined to South Australia plus a total consignment. of 12,000 eases from the Murrimbidgee and fruitfly-free districts of Victoria. Broken Hill Proprietary Company, Ltd., announces an interim dividend of Is 3d a share on fully-paid shares and an interim dividend of 9d a share on th e contributing issue, for the six months ended November 30. 1936. The rate of Is 3d a share is at 121 per cent per annum, unaltered from last year. LONDON BUTTER MARKETLONDON, April 25Butter is subject to fluctuations and i s tending higher, but there is some nervousness because of Ihe weakness of Continental butter. This must affect the demand for the Dominion product in the North of England- The retail pipee of Dominion butter has advanced a penny, but consumption is well maintained- The outlook is uncertain, but most traders do not expect the market to break. WOOL TRADE. LONDON. April 24. Offerings at the wool sales are the lowest in the memory of traders. Prices will largely depend on the extent. of foreign compel l tion, especially from Russ'a, which wa< active al Bradford during the week. If merinos advance 5 per cent- it will be due to foreign rather (ban Home buyingPractically no merino wool >s likely to be, offered during the opening day of the sales- Crossbred is expected to advance from 5 per cent- to 10 pei cent- Some of the largest topmakers in Bnadford, who are usually not heavily stocked at this time of the year, are unable to quote low crossbreds as they have not the margins of free wool. LONDON MARKETS. LONDON. April 24Rubber is steady, with no dee’ded trendSugar did not respond 1o reports that the International Sugar Conference would shortly reach an agreement. The only outstanding question is the reported intention to impose export quotas on Czechoslovak’a, Russia and JavaThe quality and condition of the fruit shipments which arrived tn the Brisbane Star and Maloja, are high, and the trade is optimistic of a successful season. The flrist arrivals of apples* at Liverpool, by the Domeneus and* Australia Star,, met with an active demand- Jonathans were short of colour, and Cox’s showed a fair amount of bitter pit-