COMMERCIAL.

Hawke's Bay Tribune, Volume XVII, Issue 206, 15 August 1927, Page 7

COMMERCIAL.

LONDON STOCK EXCHANGE. REVIEW OF THE MARKETS. London, Aug. 13. Although the holiday season is at its height, there is considerable activity on the Stock Exchange, particularly in industrials and oils, also in tea and rubber shares, while textiles have also become quite brisk. Monetary conditions have been somewhat stringent, although the bank received a substantial amount of gold and the New York exchange rate has improved. This tightness of money has caused some hesitation in the gilt-edged market, but colonials have been in good demand, especially the latest issues, and it is satisfactory to note that. Commonwealth loan ,scrip hardened, being now quoted at orily about three-eighths per cent, discount. NONFERROUS METALS. In an informative article dealing with the position and the future of nonferrous metals, the newspaper “Statist” points out that the United States is the only important industrial country which has fully recovered from the effects of the war and its aftermath, it consumed 2,022,000 of the 4,322,732 metric tons of copper, lead and zinc produced in the entire world last year, or nearly 47 per cent, of the total. It also consumed over half the world’s tin production. Incidentally, the United States produc- , ed more than half the world’s supply of iron and steel. If this increase in consumption proves to be natural economic delevelopment, similar prosperity may be expected soon in other industrial countries.

The enormous increase in general production and consumption in the United States should -be regarded as an indication of a world-wide trend towards higher standards of living. It has been demonstrated in the United States that popular wants have expanded to an enormous extent; also, that invention, supported by continuous employment and effort has made it possible for those wants to be supplied. At the same time, discoveries of the new ore resources and improvements in methods of production during the past few years assure abundant supplies of nonferrous metals for generations to come at costs that will not be excessive. NEW FORM OF FOOD. Many doctors are now recommending the use of crisp bread, q sort of wholemeal biscuit, instead of ordinary white bread, and many biscuitmakers, both at home and abroad, are devoting time to this new form of food. It is, therefore, interesting to learn that one of the principal British biscuit firms has been experimenting with Australian wheat in the manufacture of crisp bread. Victorian white wheat was chosen for the first test and the users report that it certainly performs a useful function in imparting a good colour and fine flavour to the product. Furtheir tests with other Australian wheats are being made. BUTTER SOUND. The butter position appears very sound, and though last week’s advance has not been fully maintained, the statistical position 'points to an upward movement before November, which seems the earliest moment to expect any considerable arrivals from Australia and New Zealand. At present there is a marked scarcity of finest quality butter, THE WOOL MARKET.

Discussing the wool outlook, the Bradford Chamber of Commerce Journal says users are compelled, in view of recent events, to recognise that there is not too much wool in this country to meet requirements for the remainder of the year. New wool cannot be exxpected from Australia in sufficient volume to influence the market until late in November, while New Zealand wool will not be available until nearly in the New Year. Nobody will sell on the assumption that in the meantime there will be any appreciable change in the position of wool already in this country, although it is generally agreed that medium and coarse crossbreds are in a rather stronger position than the finer grades. Generally speaking, wool is too dear for the Bradford market, and it is very difficult for machinery owners to secure orders on a profitable basis for tops, yarns and piece goods It is hoped that in the next wool season the position will be adjusted to a more workable basis from the Bradford point of view.—(A. and N.Z.)

FEILDING STOCK SALE. CLOSING PRICES FIRM. Feilding, Aug. 12. At the Feilding stock sale, a medium yarding of both sheep and cattle generally met with good competition. Fat sheep, which were yarded in large numbers, maintained the high values of last week. Though at the opening the bidding dragged somewhat the prices on closing were very firm. Dairy cattle were keenly sought and practically every line was disposed of under the hammer- Fat hoggets 20/7, 21/5 to 26/- and 36/-, ewes 23/3, 26/- to 30/8 and 31/-, wethers 32/6, 32/10 to 35/6 and 36/1, maiden 2-tooth b.f. ewes 25/9 to 35/-, store wether hoggets 13/9, 17/7 to 23/2 and 24/3, small ewe hoggets 18/7, f. and f. wethers 30/3, f. and f. ewes 20/9, aged ewes in lamb 13/-, 16/7 to 20/8 and 23/10. Cattie: Springing 11.-Jersey heifers £4 5/-, £6 to £lO 10 -, springing cows £5 15/- to £B, fat bullocks £7 7/6 to £8 5/-, fat heifers £3 to £3 10/-, fat cows £4 2/6 to £8 1/-, yearling heifers £3 4/- to £3 13/-. TAKAPAU STOCK SALE. The auctioneers report a full yarding of sheep and cattle -at Takapau yesterday. Prices ranged as follow:— M.S. hoggets 18/3 to 25/-, fat ewes 20/1, 8 ewes in lamb to R.r. -22/3, 2-th ewes in lamb to R.r. 25/6, dairy cows and heifers £4 to £8 5/-, fat cows £4 10/- to £5 15/-. The brokers sold as under:—

H.B. Farmers’ Co-op., Assn., Ltd. —B3 m.s. hoggets 23/10, 6at 18/3, 1 springing cow £4, 1 fat cow £4 10/1 at £5 15/-, 1 springing heifer £B, 10 pigs 30/-.

N.Z. Loan and Mercantile Agency Co-, Ltd.—6l m.s. hoggets 25/4, 1 dairy cow £3 5/-, 1 at £4 1/6, 2 dairy heifers £3 5/-, 1 at £1 5/-, 1 springing heifer £5 10/-, 1 at £5, 6 heifers in calf £3 10/-, 1 heifer in profit £3 10/-.

Williams ami Kettle, Ltd.—B fat ewes 20/-, 113 wether hoggets 23/6, 43 b.f. hoggets 19/6, 40 2-th ewes 26/-, 45 5-yr ewes 22/3, 8 2-mth heifers £3 7/6, 8 2-mth steers £4, 2 heifers £4, 1 at £4 15/-, 1 at £7 10/-.