FARMING AND COMMERCIAL

Manawatu Standard, Volume L, Issue 77, 26 February 1930, Page 5

FARMING AND COMMERCIAL

CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, Eeb. 25. For somo reason there is a lessened demand for Velvet and Pearl wheat this, season. Thero are those who attribute it to the fact that improved milling machinery and better baking methods now make it possible to convert Tuscan wheat into bread of first-class quality, and as Tuscan is cheaper than Velvet or Pearl, it is more generally sought by millers. Against this, however, there are millers who say that it is impossible to make the best bread from Tuscan alone, and they buy Hunter and Pearl to mix with it. Wheat is now coming on to the market fairly rapidly, but some of it is out of condition. Prices remain unchanged at 5s 9d per bushel for Tuscan, 6s for Hunters, and 6s 3d for Pearl, on trucks. There is an occasional salo of Tuscan at 5s 8d on trucks. Fowl wheat has firmed a little, and is today quoted at 5s lOd per bushel, f.0.b., for prompt. The market for oats is not quite so firm as it was, though thero are not a great many offerings from farmers. The on trucks price is 3s 9d per bushel for As, 3s 6d for B’s, 4s 6d to 4s 9d for Duns, and 3s 3d to 3s 9d for Algerians. There is some forward business being done on the basis of 4s ljd per bushel, f.0.b., 5.1., spread delivery April to September, for A’s and 3s 84d for B’s. . The North Island is now buying chaff from Tasmania, though it is not getting it for less money than it would havo to pay the South Island for it, and Tasmanian ; chaff is not better quality than that ob- : tninablo in Marlborough and Canterbury to-day. Tho quotation for Canterbury chaff 'is £5 to £5 5s a ton on trucks, whilo 1 tho North Island is paying Tasmania £5 5s a ton for best quality and £5 for second I quality, f.0.b., Tasmanian ports. 1 No chango has occurred since tho previi ous report in tho values of barley, peas, or ' clovers. During tho past few days cocksfoot has been offering freely, but merchants for tho most part havo sufficient for their immediate requirements. The value to-day is 8d to 9d per lb for Akaroa seed, and 7d to 8d a lb for Plains seed. It is too early for now cowgrass, but a littlo old has been selling at 4d to 5d por lb, on trucks, country stations. Tho potato market is easier than it was, and sales were made yesteruay at £3 5s to £3 10s a ton on trucks. Forward business has been done at £4 12s 6d for April-May-June, and at £5 12s 6d for July-Sep-tember, f.0.b., S.I. WHEAT MARKET. LONDON, Feb. 24. Wheat.—Cargoes opened 3d to 6d down, with very quiet demand. Parcels were in small demand at a decline of 3d to 9d. Futures: London, March ,363 Id per quarter; May, 36s 6d; Liverpool, March, 7s 7d to 7s 8d per cental; May, 8s; July, not cash, 83 2 7-Bd. WINNIPEG, Feb. 24. Continued lack of export demand for North American wheat, and weakness in the Liverpool and Chicago markets, were chiefly accounted for tho liquidation of old crops and futures, bearing to wheat new low price levels. On Monday scattered but determined buying at the closing minutes brought values up one cent., but at the close the price was 3 3-8 to 2 3-8 cents, down on the day. May delivery closed at Idol. 11 5-8 cents., July Idol. 13J cents., October Idol. 154 cents. CHICAGO, Feb. 24. Wheat broke wide open to-day, due to the depression in the stock market and bearish now 9 from all sides. Kansas City and Winnipeg prices declined further, and weakened the local market. The wheat glut at Kansas City will force the co-operatives to suspend buying thero unless more storage room is provided. Local wheat closed, March Idol. 3 7-8 oents, May Idol 8 3-8 cents, July, Idol. 10 3-4 cents, September Idol. 13 3-8 cents. BRITISH FARMERS. ARRIVAL AT AUCKLAND. Per Press Association. AUCKLAND. Feb. 25. Sixty British farmers arrived by the Remuera from London to-day. Mr Arthur Canham, secretary of the British National Union, which organised the tour, is in charge. He was formerly Trade Commissioner for South Africa in London. Mr Canham said that the :, dea of the tour originated after the Wembley exhibition from a group of Imperialists. He had impressed on the members of the party on the way out that it was not a globe-trotting trip, but one with serious Imperial implications. Mr Canham added: “We don’t propose to try and teach Imperialism, but hope to catch some of the invigorating breeze.” METALS MARKET. LONDON, Feb. 24. Metal exchange quotations aro as follow, those previously cabled being given for purposes of comparison;— Feb. 20. Feb. 24.

SYDNEY WOOL SALES. FIRM MARKET. SYDNEY, Feb. 25. At the wool sales to-day, 6921 bales were sold, also 397 privately. The market was again very firm, with special inquiry for superfine lots. All sections of the trade operated freely. Greasy Merino made up to 25d.

WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Although there was a fair amount of business offering yesterday, buying seems to be casing off excopt for bank shares for which tho demand is still good with values steady. Government securities received somo attention from investors but sellers were scarce. Tho 5i per cents. (1933) were wanted at £97 15s and the 04 per cent, stocks and bonds (1936), at £99 2s 6d. Thero was a bid of £B9 for Rural Advances 5 per cents. (1947). Wellington Racing Club debentures were steady at £IOO, and Goldon Bay Coment “A” debentures at 14s lid. Bank shares were in good demand. BanK of Australasia at £l2 were Is down on the last bid. English, Scottish and Australian Bank at £6 13s wore 6d better; Notional Bank of Australasia, £lO paid, were Is lower at £ls 7s; the £5 paid changed hands at £7 11s. Bank of New South Wales were up ss, at £4O 10s, with sellers at £4l. Bank of Now ZuUand wore 6d down at 57s and a sale was recorded at the afternoon call at 575. Union Bank were steady at £l2. Goldsbrough Mort and Co. wero slight.v easier at 31s 9d; N.Z. Guarantee Co-p'ia-tjon ordinary wero unchanged at Bs, as were Wellington Trust and Loan at £6 lbs. Auckland Gas and Wellington Gas were in steady demand, tho former at 23s 3d, and the latter at 29s 7d. For South British Insurance 60s was bid, but buyers of Australian Provincial Assurance have withdrawn New Zealand Refrigerating, 10 s paid, at 5s 6d, were 2d lower, and Weilington Meat Export at 3s 9d wore 3d lower. , , Union Steam wero steady at 20s, and for P. and O. deferred stock 46s was bid, with sellers at 50s, a drop of 2s 6d on the last quotation. National Timber wero again wanted at Bs, New Zealand Breweries have eased with buyers at 81s 6d and sales at 82s 9d. Colonial Sugar at £43,15s and British Tobacco at 42s wore Unchanged. Holden’s Motor Body Builder?, continue in demand at 15s; and N.Z. Paper Mills wore wanted at 19s. Tho bids for Sharland and Co. havo been repeated at 19s 6d for ordinary and 19s 9d for preference, but there was a sale of tho preference shares at 20s 3d. Taranaki Oil wore in demand at 3s 3d and Blenheim Oil at 41s. Mount Lyell wero unchanged at 335. YESTERDAY’S QUOTATIONS. Buying and selling quotations at the final call yesterday on the Wellington Stock Exchange were as follow:

Taranaki Oil 0 3 3 Wilson’s Cement 1 19 3 Blenheim Oil 2 10 MINING— Mount Lyell 113 0 114 0 *Cum. dividend.

YESTERDAY’S SALES. The following sales were recorded on the Stock Exchanges of the Dominion yesterday Wellington.—National Bank of Australasia (£5 paid), £7 11s; Bank of New Zealand, £2 17s 6d; Goldsbrough Mort and Co., £1 12s 7d; N.Z. Breweries, £4 2s 9d; Sharland and Co., preference, £1 Os 3d. Auckland. —War Loan, 6i p.c., 1933, £99; Commercial Bank of Australia, £1 2s 6d; Bank of New Zealand, £2 17s 6d; Union Bank of Australia, £l2 Is 6d; South British Insurance, £3 Is; Grey Valley Coal, £1 6s 9;d Pukemiro Coal, £3 9s 6d; Auckland Gas, £1 3s 4d; Bartholomew Timber, £1 le 9d; N.Z. Breweries, £4 2s 6d; Wilson’s Cement, £1 18s 9d; Mount Lyell, £1 13s 9d. Christchurch. —Dalgety and Co., £ll 18s, £ll 17s; Goldsbrough Mort, £1 12s 2d; Beath and Co., Is paid (2), 7s; British Tobacco, £43 17s 6d. Sales reported: Commercial Bank of Australia, £1 2s 6d; Commercial Bank of Sydney, £3 Is 6d; South British Insurance, £3 Is 6d, £3 Os 9d; Goldsbrough Mort, £1 12s 3d; N.Z. Refrigerating, 10s paid, 5s lOd; N.Z. Breweries, £4 2s 6d. Dunedin.—Sale reported: N.Z. Milk Products bonds, £1 2s 3d. AUSTRALIAN LOANS. NEW YORK, Feb. 24. Quotations of Australian loans on Wall Street to-day compare with those of a week ago as follow: Feb. 17. Feb. 24.

STOCK MARKET. Dalgety and Coy., Ltd., report having a very fair yarding of sheep at thoir Marton sale on Tuesday, 25th inst. Quotations: 2-th ewes, 28s Id, 32s Id, 32s 6d; 5-yr. ewes, 22s 6d; M.A. Southdown rams, 3i, 4gns.

Per ton. Per ton. CopperStandard, spot ... £ 8. d. 69 18 9 £ s. d. 69 11 3 Standard, forward 68 16 104 68 15 74 Electrolytic 83 10 0 83 10 0 to 84 5 0 84 5 0 Wire tars 84 5 0 84 5 0 21 3 9 20 13 9 21 11 3 21 0 0 Spelter— 18 17 6 19 0 0 Forward Tin— 19 10 0 19 7 6 174 17 6 172 1 3 Forward 177 15 74 19 13-16d 175 1 3 19gd Fine, per oz Standard, per oz , 213-8d 20 7-16d

Buyers. Sellers. N.Z. GOVT. LOANS4i p.c. Ins. Stk., 1933 £ a. d. £ s. d. and 1939 — 99 0 0 5i p.c. ditto, 1933 5i p.c. Ins. Stk. and 97 15 0 — Bonds, 1936 CD CD to 6 — 4£ p.c. Bonds, 1938 ... Rural Advances, 5 p.c., — 99 0 0 1947 DEBENTURES— 89 0 0 — Well. Racing Club ...106 0 Golden Bay Cement 0 - “A” BANKS— 0 14 11 — Australasia Australian Bank of 12 0 0 12 4 0 Commerce Commercial of Aust. — 1 5 6 (ord.) English, Scottish and •— 1 2 10 Australian 6 13 0 — National of N.Z National of Australasia. — 6 3 0 (£10) 15 7 0 — Ditto (£5) — 7 11 6 New South Wales .... 40 10 0 *41 0 0 New Zealand 2 17 0 2 18 0 Union of Australia ... Ditto (Melbourne re12 0 0 12 5 0 gister) 12 0 0 — Goldsbrough Mort .... N.Z. Gauarantee Corp. 1 11 9 1 12 7 (ord.) N.Z. Loan and Mer0 8 0 — can tile (ord.) — 105 0 0 Well. Trust and Loan GAS— 6 18 0 — Auckland (paid) 1 3 3 — Ditto (contr.) — 0 17 8 Wellington (ord.) INSURANCE1 9 7 — National — 0 14 11 South British MEAT PRESERVING— 3 0 0 — Gear — 1 19 0 N.Z. Refrigerat. (10s) 0 5 6 0 6 1 Well. Meat Ex. (ord.) TRANSPORT0 3 9 — Huddart-Parker (ord.) — *1 19 0 Union Steam (pref.) . 1 0 0 — P. and 0. def. stock .. WOOLLEN— 2 6 0 2 10 0 Wellington (ord.) COAL- — 6 0 0 Waipa Westport-Stock ton — 0 14 0 (ord.) — 0 3 1 Ditto (pref.) TIMBER— — 0 4 2 National BREWERIES— 0 8 0 — New Zealand 4 1 6 4 3 3 Staples and Co MISCELLANEOUS— 2 8 2 Colonial Sugar British Tobacco (Au«t.) 43 15 0 — (ord.) 2 2 0 2 2 9 Dental Medical — 0 13 6 Electro. Zinc (pref.) ... — *1 9 6 Holden’s Motor Bldrs 0 15 0 *0 19 0 N.Z. Drug N.Z. Farmers’ Fer- — 3 13 0 tiliser — 1 1 3 N.Z. Paper Mills Sharland and Co. 0 19 0 — (ord.) 0 19 6 — Ditto (pref.) 0 19 9 —

5 p.c., 1955 Dob. . R74 Dob. 88| 5 p.c., 1957 . 88 88 41 p.c., 1956 ... .. . 814 82 Now South Wales — 5 p.c., 1957 ... . 851 85g 5 p.c., 1958 ... . 843 851 Queensland — 6 p.c., 1947 ... *. . 101 * 7 p.c., 1948 . 1061 * *No sale.