COMMERCIAL

Grey River Argus, 14 March 1939, Page 2

COMMERCIAL

[Per Press Association.! WELLINGTON, March 13. Sales: Wellington City 4', per cent. 1/7/53 £lOO 15s, Coles 79s Gd (2). Sales reported: Wilson’s Cement 157 Gd, Grey River 17s lid. CHRISTCHURCH, March 13. Sales: Broken Hill South (C D) 28s 9d, Grey River 18s (5). Reported: G. J Coles (late sale 11th) 795, Government 4 per cent, stock 1952-55 £99 ss. SYDNEY, March 13. Toohey’s 31s, Associated News 20s, Australian Iron and Steel pref. 27s 103 d, British Tobacco (New Zealand delivery) 495, Broken Hill Proprietary (New Zealand delivery) 57s 3d, contributing 455, Colonial Sugar £46 10s, Electrolytic Zinc 475. DUNEDIN, March 13. At a meet 1 ?.’.;; of the Directors of Kempthorne Prossers (N.Z. Drug, Company) this afternoon, a dividend ' of 41 per cent., making 8 per cent, for the year, was recommended. i i SALE AT BARRYTOWN. i The National Mortgage report hav- ' ing held a satisfactory sale at Barrytown on Saturday last. There was a fairly good enquiry for cattle, but there was very little competition for j the breeeding ewes entered. The fol- ’ lowing is a list of the principal sales: Account Mrs J. Rodgers: A pen of J 2-tooth wethers at 15s; full mouth; breeding ewes at 8s 6d; C cows with ; calves at £2 14s (calf thrown in), 8 1 store heifers at £2 6s, 1 forward steer 1 at £5 2s 6d, 1 springing heifer at £4 i 15s, 1 store cow at £1 10s, 1 bull at £l. 1 Account Messrs Ryall Bros.: 10 21-3- < yr. steers at £6 10s, "16-18 mos. to 2yr. s Veers at £4. < Account Messrs M. Dunn: 1 fat cow t

at £5 12s 6d, 1 dairy cow at £4 15s, 1 at £4 10s. Account E. Noble: 1 store steer and 2 forward cows at £4 10s each. Account Mr H. Langridge: 2 cows with vealers at £2 ss, 1 stag at £3. London Money Market LONDON, March 11. The Stock Exchange had another good week, the improvement being fully maintained, with a steady expansion in the volume of investment demand. Investors are taking more interest every day, and more business is being done than at any time since the first half of 1937. A gratifying feature is the number of small investors all ove’’ the country who are now buy.ng. With prices steadily advancing, there have naturally been some profit-taking ■ sales, but new buyers have come forward, and the markets consequently have gained in liquidity. | The influences behind the improvement are chiefly the better foreign political outlook, the hope of a trade ■ recovery encouraged by Ministerial and other speeches, the reduction in i unemployment, the sharp advance in steel output, and th*.- satisfactory revenue returns, which are taken as a further indication that the Budget will ' not show a serious addition in taxa- i tion. I Gilt-edged securities continued their i upward movement, with 33 per cent, r War Loan nearing £99, the highest | level for a long time. i Commodity markets and base metals < are conspicuously and continuously | firm, the turnover in lead and spelter '< being the biggest since December. Tin 'l is reserved, though cheerful, pending j the International Committee’s quota ' decision. Copper market dealers are . still not quite satisfied over the statis- < tical position, though prices respond t to United States buying. t

■ j Wool is firm. Prospects for Tuesday’s wool sales are generally re1 garded as good in Bradford. " The Bradford top market is exceptionally 1 firm, though business is small. The impression is that the market will | open fully equal to closing prices of last series, with any movement likely to be in sellers’ favour. The butter trade has been slow, but importers have little on hand, so that prices are comparatively steady. Cold . store stocks are still heavy, 'but in . view of the light arrivals in the next few weeks, the position is regarded as not unsound, though Continental production is beginning to increase.