COMMERCIAL

Grey River Argus, 14 August 1937, Page 3

COMMERCIAL

N.Z. SHARE MARKET. [Per Press Association]. AUCKLAND, August 13. Sales: National Insurance 18s, Dominion Breweries Rights 12, Broken Hill Pty. 83s, 83s 9d. Wilson’s Cement 20 6s, Grand Junction 2s lid, Mt. Lyell 44s 6d, Stock 15/1/53-57 3a per cent. £9B 12s 6d. Unlisted: Woolworth’s .(Sydney) £6 4s. Sales,'l2.ls class: Bank of New Zealand (D Mort.) 30s, Auckland Gas 41 6d. Devonport Ferry (2) 19s 9d, Dominion Breweries 435, Australian Glass 965, Taranaki Oil (3) 4s lid, Wilson’s Cement 20s 6d, Farmers’ Finance con. 4s 3d, Radio 1936, 25s 6d. Unlisted: Alloy Steel, new, 21s, Silknit 49s 6d. CHRISTCHURCH, August 13. Sales: N.Z. Breweries 50s (2), Anthony Hordern 18s lid, Australian Glass 95s 6d (2), Broken Hill Propty. 83s 5d (4), G. J. Coles 96s 3d (2), Taranaki Oilfields 4s lOd, Broken Hill South (cum. div.) 50s, 50s 3d, Mount, Lyell 44s 8d (2). Unlisted: Woolworth’s (Sydney ord.) £6 3s 6d, £6 3s. DUNEDIN, August 13. Sales: British Tobacco £2 Us 3d, New Zealand Breweries 12-lOs, Mt. Lyell £2 4s 9d. WELLINGTON, August 13. Sales, morning call: Broken Hill £4 3s 9d. Unofficial list: Woolworth’s Limited £6 3s 6d (two sales). Oversea list: Woolworth’s Holdings 16s lid. Sales reported: E.S. and A. Bank £5 17s 6d, Bank of New Zealand £2 4s Bd, Motoroa £9B 7s 6d. Sales, noon call: Staples 51s 3d, Dominion Breweries pref. 40s 6d, Broken Hill 83s 9d, British Tobacco 51s 3d, Shillings 17s 7d. Overseas list: Woolworth’s holdings 16s lid. Unofficial: McKenzies 86s (four sales). The Stock Exchange will be closed on Saturday.

The Reserve Bank statement this week shows a decrease in the holding of sterling exchange of £723,000 and an increase in advance from the dairy account of £70,300. , Among the liabilities, notes have decreased by £29,300, demand liabilities to the State by £112,600, and to the banks by £632,200. Other demand liabilities have increased by £93,700. According to a notice in the Gazette, the dumping duty on Indian pig-iron, imposed in September, 1927, has been withdrawn. Dumping duty will not in the meantime be charged on shipments of pig-iron imported from India in cases where the selling price to the importer in New Zealand is less than the current domestic value determined in accordance with the Customs Acts; but the Minister for Customs reserves the right to impose a dumping duty immediately, should circumstances arise in future which would warrant such a course. SYDNEY. August 13. Sales: Bank New South Wales £35, Anthony Hordern 19s 4’d, Broken Hill Propty. 85s, Dunlop Perdriau 24s 3d, Electrolytic Zinc 625. LONDON, August 12. Gold 139 s 6d, dollar 498:1, franc 132 7/32. Britain’s primary industries continue to be extremely active. Fresh evidence of this is provided by the iron and steel output figures for July. These show that the production of pig-iron amounted to 729,300 tons. These figures have not been equalled since September, 1920, when 741,000 tons were produced. Last month s total includes the output of hemstite, which shows a big increase, as several furnaces were transferred from the smelting of basic pig-iron. The monthly output of steel continued at a figure considerably in excess of 1,000,000 tons. The tonnage for last month was 1,058,200, as compared with 1,106,400 tons in June and 974,100 tons for July, 1936. This high rate of activity has been

attained in spite of an increase in the Scottish holidays, which accounted for a reduction in the Scottish steel output of 53,000 tons. RURAL CREDIT BOARDS. WELLINGTON. A.ugust 12. The following district Intermediate Credit supervisors have been appointed chairmen of the District Rural Intermediate Credit Boards for the districts mentioned: North Auckland, Mr F. W. Sullivan, Whangarei; Auckland. Mr C. G. S. Ellis; Waikato, Mr Donald Grant, Hamilton; Hawke’s Bay and Poverty Bay, Mr W. E. Cockloft, Napier; Taranaki, Mr W. R. Beattie, New Plymouth; Manawatu, Wellington and Wanganui, Mr J. B. Boyes, Palmerston North; Wairarapa, Mr F. R. Jamieson, Wellington; Marl-borough-Nelson-Westland, Mr W. P. J. Allardyce, Nelson; North and South Canterbury, Mr Francis Shaw, Christchurch - Otago. Mr P A. Joblin, Dunedin: Southland, Mr C. E. Lees, Invercargill.

WHOLESALE PRICES. STEADY RISE IN BRITAIN. [British Official Wireless]. RUGBY, August 11. The continuous rise in the Board of Trade index of wholesale prices, which began in May, 1936, but was checked this June, was resumed in July, when it was 0.7 per cent, higher than in May and about 19 per cent, above the index of July, 1936.

PORT OF LONDON. RUGBY, August 11. The tonnage of vessels entering the Port of London last year showed an increase of 1,194,449, as compared with the tonnage of 1935. The total was 30,868,381 tons. Vessels arriving from foreign ports numbered 14,454. N.Z. EXPORTS. WELLINGTON, August 13. The Government Statistician has published figures for the New Zealand export year to June 30, 1937, which show that the total value or shipments of all merchandise reached £64,621,474, a rise of £10,961,511 over the previous period. The main rise, one which accounted for 55 per cent, of tiie increase, was in the value of wool, which at £18,770,643 was £6,008,145 higher than in the previous year. The figures are significant because the year from June to June covers the most important part of the export period for the chief products. EUROPEAN FISHERY AGREEMENT. RUGBY, August 11. New sea fisheries legislation will be introduced in the next session of Parliament, so that the British Government may give effect to the first European agreement, which includes Belgium, Holland, Denmark, Germany, Iceland and Norway. France, though not a signatory, has undertaken to give legal co-operation. The agreement relates to all forms of trawling and bottom net fishing, laying down standards for the size of the mesh in the nets and for the sizes of the different fish which may be landed or exposed for sale. The object is the preservation of the natural stock of the common fishing grounds by restricting the catching of immature fish. WHEAT STOCKS. OTTAWA, August 12. The Bureau of Statistics reports that wheat stocks total thirty-two millions, the lowest since 1925. ALBERTA’S SOCIAL CREDIT. OTTAWA, August 12. The Prime Minister wired to the

Alberta Premier, Mr Aberhart asking if he was willing for the Alberta Bank legislation to be referred to the Supreme Court of Canada to test its constitutionality. Mr Aberhart is calling a Cabinet meeting on Monday. Mr Hugill states the quarrel is not with Mr Aberhart, but with English experts, whom even Mr Douglas is not backing. He repudiates war on the hanks, but states interest must decrease, and he cites the fact that Australia has cut interest and lessened the burden on the public. EMPIRE PREFERENCE. VANCOUVER, August 12. British Columbia manufacturers and fruit growers unite in the demand to Ottawa that there be no de- ' crease in the British preference. In view of the increasing trade, they are in favour of protecting British markets against non-Empire competition.