Farming and Finance

Manawatu Times, Volume 60, Issue 67, 21 March 1935, Page 8

Farming and Finance

CHRISTCHURCH SALES CHRISTCHURCH, Last Night. Sales on ’Change of unlisted stocks: Smith, Wylie, 9s. Sales on ’Change of listed stocks: Booth, Macdonald, Gi per cent., 1937, £6B; Commercial Bank of Aust., 16s; Bank of New Zealand, “D” mortgage shares, 32s 4d; Reserve Bank, £6 10s Gd; Goldsbrougk, Mort, 27s 4d; New Zealand Breweries, 01s sd; British Tobacco (cum. div.), 3Gs 3d, 3Gs Id, 3Gs; Dunlop-Perdriau Rubber, 17s (2), lGs lid (3), 16s 7d, lGs Gd, 16s sd; Electro Zinc (ord.), 21s Gd, 21s 7d (2); Alexander Mines (15s paid), 17s (3), 17s 2d (2), 17s 3d; Bell Hooper, Lid; Big River, 2s 2d, 2s 3d (2), 2s 34d (4); Brian Boru, 3d. Sales reported of listed stocks: Dominion Fertiliser, 22s 2d; Dunlop Perdriau Rubber (late sale 19th), 17s 7d; Dun* l'op-Pcrdriau Rubber, lGs lid; Bendigo Goldlights, lOd; King Solomon, 3s lOd; Mahalcipawa, lid; Stockton Coal (pref.), 4s. LONDON WOOL PRICES STEADY. LONDON, March 19. Wool, offered, 7666 bales; sold, G2IG, Australian and New Zealand. Liberal assortment N.Z. crossbreds met good Home trade demand at fully steady prices. Best merinos in sellers’ favour. Yorkshire Observer says Germany’s recent huge wool purchases undoubtedly connected with conscription plan. Germany's action is likely to result in further repercussions, as present exchange rates mean that gold standard countries can buy wool absurdly cheap from countries off the gold standard. Germany’s action may encourage firms in gold countries to speculate in raw materials, as wool is a cheap and safe investment in the event of the countries abandoning gold.

LONDON STOCK EXCHANGE WEAKER. LONDON, March 19. German developments caused dullness. Dealers lowered prices as precaution against realisations. Volume of selling inconsiderable. Bargain hunters appeared, but although early losses not entirely regained, quiet confidence prevailed at close. British funds lowered upwards of one point, but losses later reduced. Industrials were weaker. Foreign market weak. German bonds fell 21- to 3 points. METAL MARKETS. LONDON, March IS. Silver, spot, 27 3-8 d per oz; forward 27 9-lGtli per oz; electro copper, £3l per ton; standard copper, £2S Os 7’d, and forward £2S 8s 9d; lead, spot, £lO 17s Gd, and forward £ll 2s Gd; spelter, £l2 Is 3d; tin, spot, £212 15s, and forward £2OS 12s Gd. I PRICE OF GOLD. LONDON, March 19.' Price of gold 147 s 2Jd per oz line. Price yesterday 146 s lid. Sterling, exchange on New York, 4.74 7-8 dollars. Sterling, exchange on Paris, 715 francs. SHORT TOBACCO CROP. SYDNEY, March 20. Commonwealth Government has received information that production of tobacco leaf in Australia this year will bo only one and a-half million pounds, compared with thirteen million pounds for 1931-32. Shortage due to disease and unfavourable weather. FORDELL EWE SALE. The New Zealand Loan and Mercantile Agency Company, Limited, report a very successful sale of all classes of ewes at Fordell on Tuesday. Good young ewes were about Is Gd above Feilding prices, while older ewes sold freely at late rates. Seven hundred 2-tli ewes sold on account of Siberia Station, mado from 26s 7d to 28s Id. A line of 367 good w.f. wether lambs from tho same property sold at 13s Id, which was lower than last sale value in sympathy with export values. The following are some of the prices realised: —100 4-year ewes, 19s 9d; 81 G-ycar ewes, 17s Id; 50 4-year ewes, 18s; cull ewes, 12s 3d; 33 2-th ewes, 28s; 179 2-th ewes, 27s 8d; G 9 2-th ewes, 26s 7d; S 9 medium 2-th ewes, 225; 377 wether lambs, 13s Id; medium wether lambs, 11s 3d.