Farming and Finance

Manawatu Times, Volume LIX, Issue 7470, 22 May 1934, Page 8

Farming and Finance

STOCK AND SHARE MARKETS MONDAY, MAY 21, 1934. Wellington gtock Exchange. Morning CalL

CHRISTCHURCH. SALES. Per Press Association. CHRISTCHURCH, Last Night. Sales of unlisted stocks: Workshops (extended, Is paid), Is Sd, Ls Std, Is ud (2). Sales oh 'Change: N.Z. Govt., 4 p.c. stock, 1940 (odd lot), £1U0; N.Z. Govt., 4 p.c. stock,. 1949 (odd lot;, £106; N.Z; Govt., 4 p.c. stock, 1955, £IOB ss; Comm. Bank of Aust., Pis 9d; National Bank of Australasia (£5 paid, cum. div.j, s.O 10s; National Banic of New Zealand, £4 2s; Bank of New South Wales (cum. div.), £32' ss; N.Z. Loan and Mercantile (ord. stock), £56 (2); Pukemiro Coal, 265; •'Christchurch Gas, 33s 6d; New Zealand Breweries (cum. div.), 42s 3d p Dominion Builders, is 3d (2); Duulop Rubber, 18s 8d (2); N.Z. Farmers' Co-op., 44 p.c. stock, 1940, £B2; Brian Boru (ls paid), Is 7d, Is 6d (4); Mahakipawa, 8d (9); Mining Houso Concessions (6d paid), 4£d (3), 4Jd; Mount Lyeli, 21s Od; Nevis Diesel Electric, 4jd, 4Jd; Okarito, 8s 5d (2). Sales reported: National Bank of Australasia (£5 paid, cum. div.), £6 10s; Bank of New Zealand, 003 9d; Colonial Sugar, £64 10s; Lawson’s Flat, sd; Nevis Diesel' Electric, 4sd; Mahaki-

pawa, 74<3; E.S. ami A. Bank, £5 Ss; Mt. Lycll, 21s 6d, 21s 7d; 1000, Brian Boru, Is 61d. DOLLAR AND STERLING. LONDON, May 10. « Sterling exchange, London on New York, 5.11 dollars.

FRANC AND STERLING. LONDON, May .10. Sterling exchange on Paris is nn changed at 77$ francs to £l. PRICE OF GOLD.

The New Zealand Meat Producers' Douru aas iccoiveu the lollowmg cuoic irom its London uinco, jj ay JB, auvising approximate average prices realised lor tliu week, with tiioso of the previous ween iu pareatheses: — New Zcaaluu sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, -JB-50ib., 0 1-id (oidj, d7-0-lUi., 1 3-8 d plidj, 55-721 u., -1 1-id (1 l-8d); Nona island, IS-5010., >j 1-dd (,51a), oi-011b., lid (1 5-8 U), 05i Mb., i j. *io (1 1-id;; ewes, laib. aad under, -Id (,-IJ, 10-ullu., old (3 3-8 d;, ob-ii Tb., 2 i-iu 7-adj. New Zealand laniOs: Canterbury, 3oib. and imdor, 7Ad (7iu), d7-lhlb., Old (0 5-8 d), -13odlb., b o-ad (Oidj; second quaii.y, average 321 b., 7 i-au t.7dj. Ollier Wouiii -Islam. brands: 301 b. and under, 71 d ti 3-Su_q 57-421 b.. Ojd (0 5-8 d), -lu-o01i.. ; 3-8 d (Old;. .Selected Noun -island brands, including Downs, bulb, and under, 7 5-ad (i-id), 3 7-421 b., 0 7-8-d quality, average 3210., ‘/|d (7 1-ad); oilier odio. and under, 7 5-3 d (7 3-8 d), 3i--121b., Old (0 5-8 d); second quMity, average 3210., 7 l-5u (7d). Australian lamos: Victorian, lirst quality, 7 3-ad (7 5-8 d), 37-1210., Gsd (_ <j o-iu, 1 . Argentine lambs: 301 b. and under, Ojfd (Ojd), 37-42ib., Old (Old). New Zealand beef: Ux lores, 21 d (2fd); hinds, Old (Old). Argentine chilled ocei: Ox to. os, 2 7-8 j (27-8 d); hinds, 5 7-ad (sjd). .vustialian frozen beel: Ox crops, over lOulb., 2 5-ad (2 o-ad); hiu.ls, over lOUlb., 5 3-ad (5 5-ad). New Zealand prime porker pigs: OU-8010., Od (5:.d;; il-lUvho., Od (o o-8d); 101-12010., 5 5-3-1 (51d). New Zealand baconcr pigs: 120-lOOlb., 51d (51dj. New Zealand frozen veal: Not quoted. Lumu market: I'irm witn better prices; uemand expanding. Mutton market: Yv'cthers and owes meeting with good trade at slightly lower pi ices. Beef ' market: Steady with better demand. New Zealand porker pigs: Dinner owing to short spot stocks. New Zealand baconcr pigs: Market steady and unchanged. SURPLUS WHEAT. POLICY OP THE BOARD. The Wheat Purchase Board reports that it has given full consideration to the question of taking over the surplus wheat for the season, and the lixing of the standard sample. Close on 1,000,000 bushels new season’s T'.A.t). milling wheat has been taken delivery of ana paid for by the various millers throughout New Zealand to date, and this compares favourably with last year's purchases and sales. A preliminary standard sample has been adopted, and the bulk will now be made up to provide for distribution of samples overseas and locally. The sample is representative of the quality of tuo season and conforms to the description of I'.A.qj. milling wheat as lain down in the Wheat Beard- regulations. There has been some suggestion by farmers that the board has iu some way tightened up the grade this year, but tins is not so. Tuc weight per bushel and the general description of the sample is me same as has operated in past years, and which by experience has proved satisfactory. Apparently the moisture content of wheat generally is higher than last year, but when wheal is rejected on account of condition, and any dispute arises, the matter will be decided by a test of tne moisture content, and the maximum allowed shall be 15 per cent It may be that iu the years to come some really satisfactory method may be evolved for the buying and selling of wheat on purely a quality basis, but that stage hns not been reached yet. Alreauy arrangements have been entered into for the purchase by the board of a considerable quautity of surplus wheat, and this will be placed iu suitable stores during the next few weeks. The board desires to impress on farmers who still have wheat for sale the great necessity there is xor making sure that the wheat is in dry condition before being delivered. The board is of opinion that this question of the wheat being properly dry is really the most important one to-day affecting farmers who still have to deliver wheat. V/OOL TOR GERMANY. EMBARGO CONTINUED. LONDON, May .10. Germany 's extension of the embargo on raw' materials has caused considerable disappointment iq Bradford wool circles. The Yorkshire Post says it was stated in one quarter that during the past day or two inquiry had been stimulated in anticipation ot the removal of the embargo. Now, however, trade will

be compelled to continue in a slate of uncertainty. TALLOW AND HEMP. The Department of Agriculture haa received the following cablegram, May 18. from tho High Commissioner for New Zealand, London:—Tallow: Considerably more business on spot. Failbusiness done tor shipments. 1 rices same as last quotations. Hemp: Manila—Market unchanged. Output January 1 to May 14, 578,000 bales, against 401,000 for the same period last year. Stocks in the United Kingdom at April 30, 21,682 bales, against 11,212 at same time last year. Stocks in Manila at May 11, 151,000 bales, against 141,000 at same time last year. Sisal: Market quiet but steady. Octobor-Decembcr shipment sold at £l7 2s Od. New Zealand: Market quiet with values nominally unchanged. No first-hand sales reported. Stocks in London at April 30, 21 tons, against 10-1 tons at same time last rear.

Buyers. Sellers. £ S. d. £ S. d N.Z. Govt. Loans — 4 p.c. bonds 1940 105 12 6 100 2 D •1 p.c. bonds, 194G 105 15 0 — 4 p.c. bonds, 1949 105 15 0 — 4 p.c. bonds, 1955 107 17 0 — 5 p.c. bonds (Rural), 1947 . 3J p.c. ins. stk., 102 10 0 103 5 0 1939-43 .. .. 34 p.c. ins. stk, 104 10 0 1939-53 .. .. 104, 0 0 — 34 p.c. ins. stk., ” 1938-43 .. 34 p.c. ins. stk., 105 0 0 — 1938-53 .. 4 p.c. ins. stk.. 104 0 0 1940 105 10 0 100 3 0 4 p.c. ins. stk., 1940 .. .. • ■ 105 15 0 — 4 p.c. ins. stk., 1949 105 15 0 — 4 p.c. ins. stk., 1955 108 5 0 110 0 0 3-J p.c. ins. stk., 1941 Debentures — 101 0 0 — Wgtn. City, 4i p.c., 1/2/1952 . Makerua Drnge. 102 5 0 105 0 0 Bd., 0 p.c., 1940 — 102 0 0 Amal. Brick and Pipe, Wgtn, .. Banns — Comm, of Aust. - 90 0 0 (ord.) .. ..... Comm. Banking 0 10 9 0 10 10 Co., Sydney .. Eng., Scot., and 10 15 0 17 5 0 6 0 National of N.Z. IS; at. of A’nsia 4 5 0 mm* 13 10 0 Nat. of A’asia. (£5) * 0 , 0 New Stk. AVales''' cl 12 0 32 10 New Zealand* .. Now Zealand, D - 10 0 - 11 Long Term .. 1 14 8 — Union of Aust. .. Financial — ' 10 0 Equitable Bldg. . Goldsbr’gh, Mort. 1 15 0 and Co. .. .. 1 11 0 1 12 c N.Z. Guar. Corp. 0 4 2 0 4 4 Wgtn. Trust Loan 5 , 5 U — Gets—* Gisborne .. .... • 0 9 3 — Wgtn. (ord.) 1 13 0 1 19 9 Insurance — National of N.Z, l 0 0 — Nc.v Zealand 3 2 0 — Queensland .. .. — 4 10 0 feeutli British .. 3 19 0 1 Meat — Gear Meat .. .. . . 1 9 0 N.Z. Refrig. (£1) 0 17 11 0 — N.Z. Refrig. (10s) Woollen — Kaiapoi (fully u 8 4 8 10 0 paid) Wgtn. (ord.) 5 2 G ° * Wgtn. (pref.) .. 5 5 0 — Coal — Westport* .. .. 0 10 0 — Breweries — » 5 3 o 0 G Staples and Co. .. Tooth and Go.* . o 4 0 1 8 4 Miscellaneous — Colonial Sugar .. Consol. Brick and 63 15 0 — G I * i r> f* 0 0 0 8 Dominion i ertili sc i' * 0 17 0 — D.l.C. (prof.) IS 1 5 5 Dunlop.- l’erdriau Llectro. Zinc 0 4 (8 per cent, part pref.) . - • - • • — 1 14 0 Heury J ones Co-op.* .. •• 1 .11 9 0 — N.Z. Farm. Pert. u IS 4 19 N.Z. Newspapers Prestige, N.Z. l 9 0 0 19 0 • Sharlaud and Co. (ord.) Sharland and Co. 1 * 0 0 (pref.) Wgton. Queen’s 1 3 0 1 rJ 0 Theatre • • • • Wilson’s (N.Z.) 1 Cement* .. .. 1 i 9 Oil— Taranaki 0 1 10 0 2 .1 Mining— Alexander (coni.) — 0 14 11 Bell-Kilgour .... 0 0 - 10 0 Big River .. .. 0 0 7 0 0 Blackwater .. . • — 1 it) Gillespie’s Beach — 0 1 Golden Dawn — 0 4 King Solomon .. — u 0 0 •t 10 Mahakipawa — 0 Mataki — Mount Lyell — i 1 Nokomai — 0 O - Waihi :i 14 0 1 14 9 9 Brian Boru .. . • — 0 .1 Moonlight Nelson 0 0 < 1 0 Skippers — 0 0 Talisman Dubbo 0 15 0 10 0 * Cum. div. Sales, first call this day Kuala Kantpar Tin, 17s; Brian Boru Gold, Is 9d. UNOFFICIAL LIST. Buye rs. £ oilers. a s. d. £ s. d. Woolworths, Ltd. 0 (ord.) — 12 Golcoiida Holding 0 I 1! 0 - 0 John Fuller, deb. Mossy Creek (Is 73 0 0 0 0 0 11 paid) .. .. ■ • 0 l G 1

From Mar 3 to May IS the dollar has ranged from 5.10 'l ; to 5.12 7-S. Dollars to ill. Mav 2 . .. 5.10i May 1 . .. 5.13s’'April 5 . .. 5.1-11 March 1 .. .. . .. .. 5.06} February 2 .. , ,. .. 4.05 January 2 .. . .. 5.17 J Novmbr. 10 (low roe.) 5.53 The par value of the United States dollar with sterling is 4.SO 2-3 dollars.

LONDON. May 10. The price of gold is 130s 2,1 d pier line ounce. The price since and including May 5 to May 1(5 lias varied from 135s lOd to 13Gs 2 Id. Per oz. S. d. May .2 13(1 3J May 1, .. 155 111 April 3 135 2 March 1 137 1 February 5 (oflieial) 140 0 Febr'y. 2 (unofticialj 142 0 February 1 135 0 January 2 127 0 FKOZEN LAME. LONDON MAKlvET FILM.