COMMERCIAL

Grey River Argus, 1 August 1940, Page 11

COMMERCIAL

CHRISTCHURCH, July 31. Sale reported late yesterday Standard Insurance 56s 6d. WELLINGTON, July 31. Sales reported: Bank of New Zealand 40s 6d, 40s; Wellington Trust and Loan 955; New Zealand Insurance 58s 6d. POTATOES FOR AUSTRALIA CHRISTCHURCH, July 31. According to a cablegram published yesterday the first consignment of 1000 ton’s of Canterbury potatoes, sent to Australia under the arrangement for the admission of 5000 tons, has been marketed at £ll a ton. The potatoes were bought at the equivalent of £5 to £5 5s on board. Freight and duty amount to approximately £5 a ton, and to this amount landing, cartage, handling, and selling commission charges have to be added; so there would be little margin for the Internal Marketing Department, which is controlling the export. Arrangements are now practically completed for the second consignment of 1000 tons to leave early in August. Some interest has been shown by growers and merchants in a suggestion advanced in an article in “The Press,” that New Zealand could find Ei good market for seed potatoes in South America, since supplies from Europe are now cut off. The first and perhaps the greatest difficulty is in arranging freight at the present time, but if this could be overcome, further investigations would appear to be worth while.

The potato market locally is still very slow, with no change in the quotation.

The following quotations to farmers on trucks at country sidings, unless otherwise indicated, are supplied by the president of the North Canterbury Grain, Seed and Produce Merchants’ Association: —

Wheat—Milling, f.0.b., Tuscan, 5s lOd, Hunters 6s, Pearl 6s 2d t Marquis 6s 3d. (Final payment of 3d a bushel on all wheat at the end of the year.) Oats: A Gartons 3s 9d to 4s; B Gartons 3s 3d .to 3s 6d; Algerians 3s 6d to 3s 9d; Duns 4s to 4s 6d, according to sample. Ryegrass: Perennial and Italian 6s to according to sample. Cocksfoot, 9d (nominal). White clover: 2s to 2s sd. Red clover: Is to Is 4d. Partridge peas: 6s 9d to 7s. Chaff: £6. Barley: Malting, ex stack, i 4s 101 d; ex stook, 4s 7id; Cape, 4s to 4s 6d; black 6s to 6s 3d. Potatoes: £2. Onions: £7. Linseed, f.a.q., £25. DUNEDIN RABBITSKIN SALE DUNEDIN, July 30. There was a good attendance of exporters, furriers and the local trade at to-day’s rabbitskin auction, when an offering of approximately 64 tons was submitted. Competition was excellent, all sections of the trade being interested. Good orders were on the market for New York, and New Zealand furriers operated on lots suitable for their requirements, ft was noticeable that as the sale progressed the market firmed, values for furriers’ sorts being slightly better compared with previous quotations. Bucks on an average, sold on a par, while does were par to a shade firmer. Hatters’ descriptions sold particularly well, and advanced oh an average by 2d to 4d per lb. Some good parcels of winters were offered but from now on the quality of the skins will be going off owing to the mildness of the season. First bucks sold to 123 d, second bucks to 117 d, first early bucks to IOOd, and first does to 85 id.

The official range of prices is as

follows: Small, 181 d to 23d per lb; runners, 293 d to 31d; racks, 341 d to 36d; summers, 323 d to 37d; first early autumns, 41d to 44-ld; first late autumns, 48d to 61Jd; first incomings, 69d to 75d; second incomings, 60id to 66d; first early winter bucks, 85d to lOOd; first early winter does, 63d to 75d; spotted winter bucks, 95id to lOld; spotted winter does, 66d to 69d; second winter bucks, llld to 117 d; second winter does, 738 d to 76d; first winter bucks, 120 d to 123 d; first winter does, 81d to 85id; outgoing winter bucks, 80id to 88id; outgoing winter does 55d to 63d; furrier does, 76d to 78d;’spring bucks, 59d to 72Jd; spring does, 42Sd to 55id; stained does, 473 d to 50d; first milky, 40id to 44d; milky, 31d to 36id; summer broken, 30d to 34d; autumn broken, 33d to 375 d; second winter broken, 36d to 405 d; summer fawns, 36id to 38d; autumn fawns, 68d to 71 id; first winter fawns, 84d to 89id; summer black, 24id. to 26? d; autumn black, 39d to 49id; first winter black. 75d to Slid; first hareskins, 24d to 38id; hareskins, 17d to 25d; horsehair 29d to 30id; first ferrets, 12s to 13s Id; second ferrets, 6s Id to 11s. MILFORD DAIRY TEMUKA, July 30. An increase in production is reported in the twentieth annual report of the Milford Co-operative Dairy Company. The estimated season average pay-out per lb for butter-fat (ah grades), which was quoted in the report for the previous year, 18.497 d, was maintained. In respect of the current year, the valuation basis adopted for cheese on hand at balance date was 9d per lb; estimated average pay-out per lb (all grades) for butter-fat from the disposal of the unsold cheese at the value adopted should be Is 6.987 d. The directors recommended in the report that a dividend on paid-up capital at 4 per cent, be declared, and that the balance of appropriation account be carried forward.

Following are the statistics (with last year’s figures in parentheses) :— Pay-out current year per lb of but-ter-fat (advance), 13.987 d (13.997 d estimated surplus, 5d (4.5 d number of suppliers, 44 (38); lbs of milk received, 5,893,902 (5,330,1301 b lbs of butter-fat from milk, 218,812.9 (200,275.4); average test of milk, 3.7125 (3.7574); total charges. 4.069 d (3.866 d

Cheesemaking-Pounds of milk, 5,893,902 (5,330,130); pounds of but-ter-fat from milk received over stage, 218,812.9 (200,275.4); average butterfat test of milk, 3.7125 (3.7574); pounds of milk to make lib cheese, 10.793 (10.5214); pounds of cheese to 11b butter-fat, 2.5155 (2.5294); average grade of cheese, 92.99 (none graded); milk grading percentages, first 99.5583 (99.6620), second, .4417 (.3380). QUEENSLAND NATIONAL BANK CHRISTCHURCH, July 31. The Queensland National Bank, Ltd. shows a net profit of £88,031 for the year ended June 30. an increase of £6339. Dividend, which has been increased gradually for several years, is raisea from 4§ per cent, to 5 per cent. The amount of the dividend is £87,500, leaving £22,087 to be carried forward, against £21,556 brought for-

ward. Year ended June 30, 1938. £ 1939. £ 1940. £ Net profits .. 79,170 81,692 88,031. Dividend, % 4?< 5 Dividend, amt. 78,750 80,937 87,500 Forward 20,801 21,556 22,087'