FARMING AND COMMERCIAL

Manawatu Standard, Volume XLVIII, Issue 238, 5 September 1928, Page 5

FARMING AND COMMERCIAL

BANK OF ENGLAND RETURNS. COMPARISONS WITH PREVIOUS WEEK. (Australian Press Association —United Service). LONDON, Aug. 30. The Bank of England returns for the week ended August 30, as compared with those for the week ended August 23, aro as follows:

Proportion of reserve to liabilities 52.50 52.09 SHORT LOANS AND BILLS. Short loans, 3£ per cent., same as last week; threo months’ bills, 4 9-32 per cent., 6ame as last week. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for consols and colonial inscribed stocks, compared with those of August 23: Varia-

BRADFORD TOPS MARKET. LONDON, Sept. 3. (Australian Press Association —United Service). LONDON, Sept. 3. The Bradford tops market is dull. In quiry is small with a minimum of new business. ENGLISH WHEAT MARKETS. (Australian Pross Association —United Service). LONDON, Sept. 3. Wheat.—Cargoes, dull, values hard to determine, owing to absence of bids. Parcels, quiet demand, at late rates. Liverpool futures: October, 9s 0 l-8d per cental; December, 9s lid; March, 9s 2£d. BEET SUGAR PRODUCTION. (Australian Pross Association —United Sorvico). LONDON, Sept. 3. Herr Licht gives the ten months’ beet sugar production as 4,296,684 tons. Tho campaign estimates are unchanged. PRICES OF METALS. (Australian Press Association.) LONDON, Sept. 3. Copper.—Standard, on spot, £62 13s 9d per ton; forward delivery, £63 Is lO^d; electrolytic, £6B 15s and £69 ss; wire bars, £69 15s. . . Lead, £22 6s 3d and £22 Is 3d. Spelter, £24 15s and £24 16s 3d. Tin, £213 lie 3d and £2lO 8s 9d. Silver.—Standard, 26 9-16 d per ounce; fine, 28 11-16 d. SHIPMENTS OF FROZEN MEAT. The Now Zealand Meat Producers’ Board reports tho following shipments of frozen meat from Now Zealand:— < Beef. Mutton. Lamb. Pork.

WELLINGTON STOCK EXCHANGE. WELLINGTON STOCk EXCHANGE.

YESTERDAY BUSINESS AND PRICES,

At tho afternoon cail on tho v.’ellington Stock Exchange yesterday, Dales wero reported of New Zealand Broweiies 10 po* cent, bonds at 24s Id, and South BriLrh Insurance at 63s bd. . ti G?vcrnmoß« socurhiin were \\j'u • lie 4i per cent, bonds (1930) wero wanted at £99 6s, and tho 5£ por c./'ts: l.*3fn at £lOl 2s 6d. Wanganui City 51 per cents. (1945) wero steady at j.ar, and Now Zealand Breweries at 245. Bank shares wero in littlo better > demand than on the* previous *:ny. There "'ere buyers of Commercial Bank of Australia preference at £7 2s 6d, Commercial Bank of Sydney at £27 2s 6d, English, Scottish and Australian Bank at £8 113 6d, Bank of Now South Wales at £SO, and Bank of New Zealand D shares at 27s 6d. Sellers quoted £ls Is for Bank of Australasia, 31s for Com* morcial bank of Australasia, 62a for Bank of Now Zealand, and £ls 7s for Union Bank (Melbourne rogister). Financial shares were in fair demand, with bids of 80s for National Mortgago, 8s 9d for New Zealand Guarantee Corporation ordinary, and 21s for preference 9s 6d for Now Zealand Insurance, and 9s 9d for Wellington Deposit.. Auckland Gas were steady at 23s 3d, Christchurch Gas at 24s 9d, and Wellington Gas at 29s 3d. Wellington Meat Export were wanted at 10s, Huddart-Parker ordinary at 48s 6d corndividend, and P. and O. deferred stock at £238. , ' , Woollen shares wero steady, with buyers of Kaiapoi Woollen, 7s paid) at 3s lid, Wellington Woollen ordinary at £6 Bs, and preference at £6 9s. Timber shares wore steady and unchanged, and National Timber were in demand at 7s 6d, and Leyland O’Brien Timber at 335. There wero buyers of New Zealand Breweries at .48s, C. M. Banks ordinary at 22s 6d, British Tobacco at 435, Colonial Sugar at £6l 5s (a rise of ss), Howard Smith at 26s 3d, Newton King preference at 6s 6d, New Zealand Drug at 71s, Sharland and Co at 19s 9d, and Mount Lycll at 345. Yesterday’s buying and selling quota-

SALES IN OTHER CENTRES. Tor Press Association. AUCKLAND, Sept. 4. Sales.—War Loan (1939), 4i per cent., £99 7s 6d; Now Zealand Broweries, Ltd., 245; Auckland Gas, 23s 4d; Devonport Steam Ferry, 24s 6d; Northern Steamship, 14s 6d. CHRISTCHURCH, Sept. 4. Sales. —Now Zealand Breweries, 48s 6d (two parcels); New Zealand Farmers’ Coop. (first prof.), 95s (three parcels); Mahakipawa, Is 9d, Is lOd (four parcels), Is lid (two parcels). Sales Reported.—South British Insurance, 63s 6d. DUNEDIN, Sept. 4. Sale Reported.—Union Bank, £ls ss. P. AND O. STOCK. (Australian Press Association.) LONDON, Sept. 3. P. and 0. deferred stock, £250. ROMNEYS FOR NEW SOUTH WALES. Messrs. Wright, Stephenson and Co., Ltd., advise that they have recently shipped to New South Wales to the order of Mr W.' R. Glasson, president of the Long Woollod Sheep Breeders’ Association of Australia, threo high-class stud Romney rams bred by Mr R. W. Matthews, of Waiorongomai, Featlierston. This is tho third successive year that Mr Glasson has made purchases of stud shoep in Now Zoa. land. Ho has been very successful with tho 6hoep previously sent to him, having twice in succession won t.he ram championship in tho Romnoy section at tho Sydney Shoep Breeders’ Annual Royal Show. Both of Mr Glasson’s champion, rams wore also bred by Mr Matthews. CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, Sept. 4. Potatoes have again fallen in price, this time to the oxtent of 10s per ton, tho price to farmers on trucks at country stations being £4 to £4 10s. Tho Kurow is aking 4000 sacks from Lyttelton on top of between 6000 and 7000 sacks from Timaru, and the Kartigi is to take another 4000 sacks. There is still a considerable quantity of potatoes in store at Lyttelton, which will bo dispatched from time to timo as shipping space becomes available. It would appear that tho potato trade is just about finished so far as tho South Island is concerned, as at an early dato tho Pukekohe main crop will be coming on the market. Tho seed market is extremely quiet and prices in all lines aro unchanged. Practically no business is being clone with the North Island or with Australia.

Aug-. 30. Aug. 23. £ £ Note circulation . .. 135,441,000 134,921,000 Coin .. 175,867,000 174,823,000 Reservo .. 60,176,000 59,652,000 Govt. deposits ... 19,229,000 16,612,000 Other deposits .. 95,304,000 97,894,000 Govt. securities .. 29,141,000 27,969,000 Other securities ... 43,444,000 45,093,000

Price. £ s. d. tion. s. d. Consols, 24 per cent. ... 56 5 • 0 5 0+ British, 5 War Loan ... 102 12 6 2 6+ Conversion Loan, 34 76 17 6 22 6* Com-wealth, 55, 1922-27 99 0 0 1 3t Coin-wealth, 6, 1931-41 . 101 15 0 7 6+ Victorian, 3, 1929-49 72 5 0 5 Of Victorian, 34, 1929-49 ... 79 7 6 22 6+ Victorian, 54, 1930-40 .. 101 17 6 Samo Victorian, 5, 1932-42 ... 99 12 6 Same Victorian, 43, 1940-60 ... 94 15 0 7 6+ N.S.W., 4, 1933 94 0 0 5 Of N.S.W., 3, 1935 J6 12 6 1 3+ N.S.W., 34, 1930-50 86 16 3 5 9+ N.S.W., 5?, 1922-32 ... 101 12 6 3 91N.S.W., 64, 1930-40 ... 101 17 6 3 at N.S.W., 6, 1930-40 102 3 9 6 3+ Queensland, 34, 1930 ... 97 0 0 3 9f Queensland, 3, 1922-47 . 71 17 6 2 6+ Queensland, 6, 1930-40 .. 100 17 6 2 6+ New Zealand, 4, 1929 .. 100 1 3 3 9t Now Zealand, 34, 1940 87 17 6 1 5* New Zealand, 3, 1945 ... 80 0 0 2 6* New Zealand, 6, 1936-51 107 0 0 5 0+ S. Australia, 34, 1939 ... S. Aus., 3, 1916 or after 84 15 0 5 Of 60 17 6 2 bt S. Australia, 64, 1930-40 Tasmania, 34, 1920-10 ... 101 15 0 7 6+ 86 0 0 5 Of Tasmania, 3, 1920-40 ... 81 0 0 Samo Tasmania, 64, 1930-40 . 102 0 0 6 3+ W. Australia, 34, 1929-35 W. Australia, 3, 1915-35 89 12 6 2 6+ 87 2 6 b ot W. Australia, 6, 1930-40 101 0 tHigher. *Lower. 0 5 Ot Conversion Loan is quoted less dividend.

Qra. Cs. Cs. Cs. October. 1927 — London 3,026 123,789 119,176 1,635 November. 1927 — London 4,875 70,087 63,953 2,638 W.C.U.K. 1,575 171 1,738 1,608 Doc.. 1927— London 9530 53,407 236,299 7,166 W.C.U.K. 3,772 1,666 500 4,023 New York 1,200 — —■ — Vancouver — 400 — — Port Said 3,899 — — — Jan.. 1928— London 16,572 110,117 642,532 9,147 W.C.U.K. 3,348 14,976 91,105 11,204 Now York 3,840 — — — Halifax 1,047 — — — Feb.. 1928— London 14,986 195,566 642,941 9,101 S’thampton 203 3,503 28,454 — W.C.U.K. 782 17,533 105,446 6,538 New York 2,528 1,005 2,500 —• Vancouver 600 1,600 500 — Mar., 1928— London 11,545 192,454 391,455 4,986 S’thampton — 2,629 25,249 — W.C.U.K. 25,504 37,195 230,492 9,316 New York 9,128 1,000 10,014 •— Vancouver 44C 400 200 — April, 1928— London 22,293 184,372 692,018 3,807 S’thampton — 6,930 21,476 — _ Hull 870 729 1,440 — ' W.C.U.K. 10,716 15,424 37,460 — Vancouver — 700 250 — New York 11,133 6,250 20,000 — Montreal 5,467 1,501 , 1,501 — Antwerp 2,000 — — — Port Said 735 — — — May, 1928— London 14,204 139,595 528,825 1,222 S'thampton — 7,284 26,993 — W.C.U.K. 7,062 17,694 187,419 2,651 Vancouver 600 1,900 2,200 — Juno, 1928— London 16,065 145,123 356,999 5,582 S’thampton 203 10,444 36,520 — W.C.U.K. 17,764 23,442 154,706 1,854 New York 13,244 1,000 — Montreal 112 — — — Vancouver 160 — — — July, 1928— London 14,860 165,016 441,220 10,931 S’thampton 486 3,679 24,500 316 W.C.U.K. 9,692 26,403 138,502 992 Vancouver 460 — — — Cristobal 1,245 — — — Antwerp 14,680 — — •— Aug., l/15th — London — 39,444 135,076 1,974 S’thampton — 2,845 9,750 534 New York 26,395 — SUMMARY. A summary of the shipments is as follows: — Total Oct. 1 1927, to 15th A'ue.. 1928— 68,189 London 127,9561,418,970 4,250,494 S'thampton 892 37,314 172,942 850 Hull 870 729 1,440 — W.C.U.K. 80,215 154,504 947,368 38,186 * Port Said 4,634 : — — — Antwerp 16,680 — — — New York 67,468 6,255 32,514 — Halifax 1.047 — — — Montreal 5,579 1,501 1,501 — Vancouver 2.260 5,000 3,150 — Cristobal 1,245 — — — Total for same period last year, viz. Oct. 1, 1926. to Aug. 15th, 1927— London 55,166 1,474,555 4,093,411 33,811 S’thampton — 8,643 57,401 — W.C.U.K. 17,006 140,833 793,234 38,739 Port Said 7.482 — — — New York 1,664 3,000 1,974 — Halifax — 100 2,753 — Vancouver 200 1,763 3,454 Havre 16,846 — — — Genoa — — — 10 Marseilles 12,000 . — — —

tioiis were as under: — Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4£ p.c. Ins. Stk., 1939 — 99 7 6 4? p.c. ditto, 1938 — 99 7 6 51 p.c. ditto, 1941 99 0 0 — 41 p.c. Bonds, 1930 ... 99 5 0 — 51 p.c. ditto, 1933 101 0 0 — 51 p.c. ditto, 1936 101 2 6 DEBENTURES— N.Z. Breweries (inscribed) 1 4 0 — Ditto (bonds) 14 0 Wanganui City, 5| p.c., 1945 100 0 0 BANKS— Australasia — Commercial of Aust. 15 1 0 (ord.) — i u 0 Ditto (pref.) 7 2 6 English, Scottish and Australian 8 11 6 — New South Wale3 ... 50 0 0 — 0 Now Zealand — Ditto, long term 3 2 mortgage . 17 6 Union of Australia (Melbourne register) — FINANCIAL — 15 7 0 National Mortgage ... 4 0 0 N.Z. Guarantee Corp. 0 (ord., 8s) 0 8 9 0 9 Ditto (pref.) 1 1 0 N.Z. Invest. Mortg. and Deposit 0 9 6 Wgtn. Deposit and Mortgage 0 9 9 GASAuckland (paid) 13 3 0 18 Ditto (eontrib.) — 1 Christchurch 14 9 1 5 6 Wellington (ord.) ■ 1 ' 9 3 INSURANCE— National — 0 16 7 South British — MEAT preserving— N.Z. Refrigerating 3 4 0 (£1) — 0 19 3 Ditto (10s) — Well. Meat Export 0 9 2 (ord.) 0 10 0 0 12 6 Ditto (pref.) — TRANSPORT— 1 2 6 Huddart-Parker (ord.) 2 8 6 — P. and 0. def. stock ..238 0 0 WOOLLEN— — Kaiapoi (eontrib.) 0 3 11 — Wellington (ord.) 6 8 0 — Ditto (pref.) 6 9 0 COAL.Westport — 1 11 0 Waipa — TIMBER— 0 14 0 National 0 7 6 — Leyland-O’Brien 1 13 3 BREWERIES— New Zealand 2 8 0 — Sunshine — 0 15 0 MISCELLANEOUS— C. M. Banks (ord.) ... 1 2 6 British Tobacco (Aust.)' (ord.) 2 3 0 2 3 9 Burns, Philp and Co. — 2 6 0 Colonial Sugar 61 5 0 Dental and Medical — Supply — 0 14 0 Howard Smith (ord.) .16 3 — Newton King (pref.) .066 — N.Z. Drug Co 3 11 0 Sharland and Co. (pref.) 0 19 9 — Wilson’s Cement — MINING— 1 19 3 Mount Lyell 1 14 0 1 14 10