COMMERCIAL.

New Zealand Herald, Volume LXI, Issue 18843, 18 October 1924, Page 9

COMMERCIAL.

THE LONDON MARKETS. . / " . ni BANK OF., ENGLAND RETURNS. ; • •••' .. j' ; .•••'" v^ Australian and N.Z. Cable ,<. Association. (Reed. 9.35 p.m.) LONDON, Oct. 16. The. Bank of . England returns for the week ended October 16, as compared with those for the week ended October 9, are as follows; — • : Oct. 16. Oct. 9. £ £ Coin * * ~ 126,659,000 126.654.000 Reserve .. 24,784,000 23,747,000 Note issue .. 123,460,000 124,484,000 Govt, ' deposits *. 12,056,000 10,867,000 Other deposits . . 115,878,000 113,882,000 Govt, securities .. 42, 233,000 44,733,000 Other securities , . 78,571.000 73.912,000 Proportion 'of reserve 1 to liabilities . . 19.38 19.03 ' SHORT LOANS AND BILLS. Short loans, 2! per cent., same as last week; three months' bills, 3} per cent., compared with. 3 11-16 per cent, last week. FOREIGN EXCHANGES. ! The following rates on foreign exchanged are current to-day, as compared with the cabled Quotations'on October 13 and par:— Oct. 16. Oct. 13. Par. New York (dol.) „. 4.49$ 4.491 4.866 Montreal (dol.) ... 4.48} 4.49} 4.866 Paris (fr.) .. .. 85.55 85.60 25.225 Brussels (fr.) . , 93.25 93.30 25.225 Rome (lire) » . , 102} 102J 25.225 Stockholm (kr.) .. 16.85 -16.87 18.159 Christiania (kr.) ~ 31.64 31.47 18.159 Copenhagen (kr.) .. 26.01 25.63 18.159 Calcutta (pence) .. 18 1-16 17 15-16 24 Hongkong (pence) . 29 29| — Yokohama (pence) , 20} 20t . 24} The mark is quoted' at 18} billions to the sterling, same as on October 13. CONSOLS AND COLONIAL STOCKS. The following table gives quotations for Consols and Colonial Inscribed Stocks, compared with those of October 9:—

Price. Variation. Consols, 2} p.c. .. ».' 671 ':. it British' 3} p.c. war loan .. 96} — British 5 p.c. war loan . . 1021 — British Conversion, 3} p.c. ~ 78} lit New. Zealand 4. p.c., 1929 ..95 i New Zealand 8} p.c., 3940 . . 85 It New Zealand 3 p.c., 19415 . . 76} S. New Zealand .6 p.c., 1936-51 . . 110 }*' Commonwealth fit p.c., 1922-27 . 1021 it Commonwealth 6 p.c., 1931-41 . . 1051 — N.S.W., 4 p.c., 1933 . 921 — N.S.W., 3 p. 0., 1935 . . 81} — N.S.W., 3} p.c., 1930-50 . . 773 ft N.S.W., 51 pji.. 1922-32 . . 110} '■ it N.8.W., 61 p.c.. 1930-40 . . 107 — N.S.W., 6 p.c., 1930-40 " . . 1031 — Victorian, 31 p. 0., 1921-26 .. 991 it Victorian, 3 p.c., 1929-40 . . 73} i* Victorian. 3} p.c. 1929-49 g, 791 it Victorian, 51 p.c., 1930-40 . , 102J it Queensland. 3 p.c., 1922-47 . . 71 — S. Australian, 31 p.c., 1939 .. 831 ■ It S. Australian, .6} p. 0., 1930-40 . 61} — S. Australian, 3- p.c., optional . . 107 — Tasmanian, 31 p.c., 1920-40 . . 83} S. Tasmanian, 3 p. 0., 1920-40 .. 77 . 1* Tasmanian. 6} p.c., 1930-40 .'. 107} 1* W. Australian, 81 p.c., 1920-85 . 85} it W. Australian, 3 p. 0., 1915-35 . . 82 S. W. Australian, 6 p.c., 1930-40 . 104J it tHigher. 'Lower. S. Same..-— Not quoted last week. WHEAT. FLOUR AND PULSE. j Wheat.Cargoes have firmed Is to' Is 6d on stronger American and Canadian advices, combined with gocd United Kingdom and Continental inquiry. Parcels pre in good demand, and have advanced fn- to Is 6d. The spot trade is very slow. Foreign sorts are about 6d dearer. Flour. Quiet and unchanged. Oats.— Peas and Beans.— steady. —Unchanged. BRADFORD TOPSi The Bradford tops market is quiet. There is slightly more inquiry, but at lower prices. Sixty-fours quality is quoted at ,78d, sixties at 62d. fifty-sixes at 51d, fifties at 39d, and forty-sixes at 30d. THE METAL MARKETS. (Quotations on October 13 in parentheses.) Copper.—Spot, £62 8b 3d (£62 8s 9d); three months, £63 lis 3d (£63 8s 9d). Lead.— £35 7s 6d (£34 12» 6d); three month#. £38 15s (£33 10s). Spelter.— 2s 6d (£33 6s 3d); three months, £33 (£33 2s 6d). ' Tin.—Spot, .£243 2s 6d (£24 5 7s 6d); three months, £245 17s 6d (£247 7b 6d). Gold. —92b 4d (92s 2d) per oz. ' •> . ' Silver.—Standard, 35 11-J6d (35{d) ; . fine, 3Sld (38}d)'per oz. AUSTRALIAN PRODUCE. : A. and N.Z. MELBOURNE, Oct. 17. Following are current produce prices:-— Potatoes, £1 15s to £3. f Onions, £28 to £30.

MELBOURNE HIDES SALE. Australian and ' N.Z. Cable Association. (Reed. 5.5 p.m.) MELBOURNE. Oct. 17. At the hides sale to-day competition was good and values were unaltered, excepting for inferior lines, which-sold in buyers' favour. , CANTERBURY MARKETS. [BY TELEGIUPH.—PRESS ASSOCIATION.] CHRISTCHURCH, Friday. The grain and produce markets are very dull. There are very few offerings.of potatoes, and in any case, the quantities are insignificant, being composed generally of five-ton lots. It is usual for some growers to hold quantities in anticipation of a ' sky high" end of season market, but the experience is absent this season. Current offers are up to £5 5s on trucks. Some forward business has taken place in next year tubers at from £5 to £5 10s a ton, f.0.b., s.i. There is general agreement that a larger area has been planted. Growers are not anticipating; a recurrence of the Victorian importations. The Navua left for Auckland yesterday with a small consignment of 780 sacks from Lyttelton, and probably less than this quantity from Timaru. _ Oats are done for this aeason. There has been a heavy.sowing! of Algerians, but this has little bearing on the prospective crop, as feeding off will be heavy. However, observations point to a fairly substantial area being sown in oats. Some forward business for Gartons is taking place at from 3s lOd to 4s per bushel, f.0.b., s.i„ equal to 3s 2d to 3s 3d on trucks. Chaff is firm at £7 15s on trucks at country stations. There has been a. little wholesale business in cocksfoot at up to 12Jd a lb., for standard seed. Most of the cowgrass offering is of mediocre quality. For good up to lOd a lb. is available. Ryegrass is inclined to ease, holders of stocks being influenced by the impetus given to growth by the recent wet weather and the consequent prospects of a good yield. <

FEILDING STOCK SALE. [BY TELEGRAPH. — ASSOCIATION.] FEILDING. Friday. At the Feilding sale there was. a small entry of sheep, most pens meeting with good competition. Some very prime shorn fat sheep yarded met with a dragging sale. All woolly sheep were well competed for, and maintained values. Woolly fat hoggets mot with arimated competition. Fat woolly hoggets, 28s Id, to, 375; • fat ehorn hoggets, 27s lOd; ewes. 24s 8d to 50s fid: fat woolly ewes, 37p 3d to 42a 4d; shorn fat wethers, 52s fid to 33s 6d; ehorn wether hoggets, 25s 8d to 25b lOd; woolly wether hoggets, 26s Id to 37s 6d; woolly ewe hjggets, 84a 2d to 38s TOd: woolly mixed hoggets, 34s to* 343 Id; ehorn f, and f. owes, 255. A full yarding of all grades of cattle met with a fair demand. Good fat P.A. bullocks, £11 12s; Hereford, £10 15s: medium fat bullocks. £8 12s 6d to £9 12s 6d; prime Hereford cows, £8 10s to £9 17ti 6d: medium fat heifers, £7 17s 6d; good yearling Heraford steers, £6 2s; yearling P.A. steers (small), £5; yearling S.H. steers (small), 30s: 18-mouthg Hereford steers, £3 2s to £3 10s: two-year Hereford heifers, £2; threavear S.H. steers, £6 Is;' two-year P.A. item's, £4 2s 6d to, £4 9s; yearling pedigrae Jersey hulls, lOgns. to 17Jgn&.; two-year-olds, Bgns. to llgns.: four-year-old, : 20gna.; two-year-old grades. sgr.s. to ISJgns.; four-year-old P.A. bulls, Signs, to 6Jgns. L ' PROPERTY SALES, A two-atoroy brick and concrete building with a 45ft. frontage to Victoria Street, a depth of 60ft., and a right-of-way of lift, to Hobson Street, was sold at auction yesterday for £2330 by Mr. C. F. Bennett. Bidding commenced at £1000 and rose in £100 bids to £1800. eventually reaching the price realised. The tenure of the property is leasehold, 60 years from October. 1882, at £75 per annum. Mr. Bennett also offered four freehold sections at the corner of Wyndham and Nelson Streets. They did not reach the reserve, and were withdrawn. A five-roomed wooden dwelling on a section. 64ft. by 150 ft.. in Gladstone Road. Mount Albert, also failed to reach the reserve. ... • ' The New Zealand Loan and Mercantile Agency Company, Limited, yesterday sold by auction to Mr. H. Harris, of Takamni, a block of 108 acres at Ngatea. together with a two-roomed cottage thereon. Samuel Vaile and • Sons, Ltd.. yesterday offered a - seven-roomed residence._ at - 20, Wood Street. Ponsonby, with' a section, 70ft. x 100 ft. The properly was withdrawn at £950. A four-roomed house with a half-acre section, fronting Beach Road, Howick, failed to reach the reserve, while sections in Bassett and Middleton v Roads, Reniiiera, offered for lease bv the Auckland City Council. failed to reach the upset : prices. \ • William A. Home, Ltd., acting under th« instruction of the mortgagee, yesterday sold for £170 an 0.8.P. property of 170 acles at Ruapekapeka. - ■ , , ,

DOMINION PICTURE .THEATRES. DIVIDEND OF 7£ PER CENT. The report of the directors of the Dominion Picture Theatres Company, Ltd., to be presented at the annual meeting rn November 5, states that the profit on the year's transactions, after making provision for depreciation and adjustments in connection with the purchase of the freehold, , t&iountß to £3179, which, with tho talance brought forward, gives. a total of. £4246. After making dividend payments at' November, 1923, and April, 1924, there remains at credit of the profit and loss account a balance of £2192. The directors recommend the paymeit of a further dividend of Is per share on ordinary shares, making 7i per cent, per annum on both ordinary and preference shares for the years. This will absorb £1777, leaving £415 to be carried forward. v The retiring directors, Messrs. C. R Chapman and R. T. Michaels, offer themselves for re-election. MARKET REPORTS. "! FRUIT AND PRODUCE. THE STRAWBERRY. CROP. . Strawberries were available in larger quantities at the. Auckland City Market* yesterday. Increasing numbers are expected to be available from now on and an improvement in quality'is taking place. Fruit generally was in good supply and demand, while dairy produce, which was in fair supply, experienced good demand. Farmers' butter was in large supply. There was very keen demand for poultry and the market was under supplied. The following prices were realised:—j FRUIT. j Strawberries, Is Old to 2s 7|d a chip. I Apples; Delicious, 13s to 16s a case; Stur-! mers. 10s to 15s 6d; Rome Beauties, 10s to j lis; Granny Smiths. 12s 6d to lis: Canadians, 17s to 235. Lemons made 6s to 10s; I Nellis pears, 16s to 18s (supplies finished); P. E'arry pears, 9s to 12s 6a; ripe bananas, 24s to 28s; Island oranges 27s to 28s (fresh shipment on Monday); Valencia oranges, 16s to. 25s 6d; mandarines, ex-Sydney, 12s to 225; tree tomatoes, 7s to 14s; hothouse tomatoes. Is 8d to Is 10d per lb; passions, 22s to 265; inferior, 10g to 18s ; loauats, 12» to 16e; local loquats, 4a to 7s 6d; pineapples, 16s to 265. FIELD PRODUCE, Beet southern potatoes, 7s to 7s fid per cwt; others, 6s to 7s 6d a sack; new (good supply), ljd to 2id per lb; kumaras, 10s 6d to 13s 6d per cwt.; cabbages, 8s to 15s a sack; on benches, 3s to 7s a dozen; cauliflowers, 5s to 15s a sack: on : benches, 3d to lid each; ' Canadian onions, 24s to 25s a crate; lettuce, 9d to Is 6d a dozen; celery, 6d to 3s 3d a bundle; cucumbers, 6s to 15s a dozen; rhubarb (heavy supply), 2s to 4s a dozen; green peas, 5d to 9d per lb; broad beans, 3d to 4d per lb; French beans. Is 2d to Is 6d per lb; .asparagus. 0d to i 8 ed a bundle; carrots, parsnips, beet and turnips, 9d to Is 9d a dozen bundles. DAIRY PRODUCE. , Hen and duck eggs, which were in very keen demand and fair supply, sold at prices on a par with last week's'sales. Farmers' butter, good lines, realised Is 5d to Is 7id per lb. the average price being Is 6d. Inferior pastry butter made Is to Is 3d. POULTRY. Heavy cockerels. 7s 6d to 10s 6d 'each; light cockerels. 4s to 7s 6d; heavy hens, 4s to 6s 9d: light hens, 3s to 4s; ducks. 3s 6d to 4s 6d; day-old chicks. Black Orpington, lOd to Is . 4d; White Leghorn, 6d to lid; ducklings, 6d to Is 6d. t>