COMMERCIAL.

New Zealand Herald, Volume LXII, Issue 19169, 7 November 1925, Page 9

COMMERCIAL.

THE LONDON MARKETS. PRICES FOR COLONIAL STOCKS | Australian anil K.Z. Cable Association. I diced. 5.5 p.m.) LOIvDOX, Nov. fi. 1 Iho following table gives quotations for t consols and colonial inscribed stocks, comj pared ui!h those of October 29:--

j * The French franc touched 123 to the I pound, the lowest on record. THE .METAL MARKET. | (Quotations on November 2 in parentheses.) I Copper.—Spot. £62 6s 3d (£t>2 8s 9d) ; i three months, £63 3s 9d {£63 8s 9d). | Lead.—Spot, £37 2s 6d (£3B 6s 3d) ; ] three rnonuis, £36 lis 3d (£37), j Spelter.—Spot, £39 16s 3d (£39 16s [3d); three months, £39 Is 3d (£39 Is -3d). j Tin.—Spot. £283 2s fid (£285 12s 6d) ; J three months, £2Bl 17s 6d (1283 12s j 6d >. | Silver.—Standard, 32 LBd (32 3-8 d) j per oz.; fine, 34 11-16 d (34 15-16 d). I WHEAT, FLOCK ANT) PCLSE. Wheat.—Cargoes are from 3d to Gd f easier on lower American advices. Pareels are in fair inquiry with a similar I decline. Liverpool futures: December, j 10s 7]d p'T cental; .March, sellers. Ids j 2s ; May, 9s The spot trade _ is slow. Australian ex-store is quoted at j about 545. | Flour.-Steady, Oats.—Slow. A Cartons, 33s to 345. jihie peas are in good demanafl, but i Tasmanian and New Zealand are rather j neglected owing to indifferent 'quality. I Tasmaniati. 360s to 400s; New Zealand. ; 310s to 3605. j Maples.—Steady. Tasmania!), 80s to i 83s; New Zealand, 75s to 775. j Beans. New Zealand. 44s to <s6s. j Sugar.—Granulated, 28s 4Ad. i BRADFORD TOPS. j The Bradford tops market is firm, but j there is only a small amount of new j business. Sixty-fours arc quoted at 54Ad, I sixties at 49d, fifty-sixes at 36d, fifties at | 28 id. forty-eights at 25d, and fortv-sixes jat 2-Id. , f LONDON HIDES MARKET. Australian and N.Z. Cable Association. ! (Heed. p.m.) LONDON. Nov. 5. Jbe London hides market is firm. A ! few Australian were, offered, but none j was sold. Prices are nominally un- ! changed. CHICAGO WHEAT MARKET. j Australian and N.Z. O.blo Association, j (Reed. 5.5 p.m.) CHICAGO. Nov. 5. ' Wheat.-.—December, new, 1 Hollar 50|- ! cents per bushel; old, 1 dollar 49$ cents, i May, new, 1 dollar 47J cents; old, 1 | dollar Btd, cents. MELBOURNE PRODUCE. j A. and N.Z. MELBOURNE. Nov. 6. j Wheat.—Quiet. Nominal, 6s 6d. j Oats.--Milling, 4s 6d; feed, 4s to 4s ; 3d. | Barley. English, 5s 7Ad; Cape, ,5s Gd. Potatoes.—£ls to £l6. | Onions.-—£lß to £2O. FROZEN MEAT PRICES. I LONDON MARKET VALUES. Dalgety and Company, Limited, report having received the following cablegram Irom their London bouse dated November 5 regarding the frozen meat, market:New Zealand prime crossbred lamb, Canterbury, heavv, 10{d; light, 11 3-8 d ; North lsland. heavy. 3Oil; light. The demand for New Zealand lamb is poor, and (lie market- is weaker. New Zealand fine crossbred mutton,, Canterbury, heavy, 7-Jd : light, cid; North Island, heavy. light, Bd. The demand for New Zealand mutton is limited and the market is weaker. Quotation Now Zealand prime ox beef, hinds. sA<l; fores, 4;', d. The market for : New Zealand beef is fair. The market is weal-;. Pork. —The market, continues very j firm, but, prices are unchanged. The ; lamb and mutton market, is weaker. CANTERBURY MARKETS. | ALGERIAN OATS ADVANCE. j jr i I | [I'.Y TELEGRAPH. —PRESS ASSOCIATION, j j C H KISTCHURCH. Friday, j With the fading out of potatoes from j . flie market picture there, is an all-round j quietude. The potato market is about .over. The Waikonaiti is due, to leave | at any time for Sydney with a small con- | .signinent, but there is little interest in this business now the Auckland demand i has slackened to small dimensions. AprilJune business has been done on a basis |of £5 5s to £5 7s 6d, f.0.b., ,s.i. With the prospect of a heavy sowing this ap- : pears a fair price, and is not at trance ; ! at- the moment, to the buyer. The oat market remains firm, A (.'Jart-ons '■ being quoted at 4s lOd, f.0.b., s.i., and J B's at 4s 6(1, the Southland rates being j 12d higher. A pronounced advance, however, has taken place in Algerians, duo to North Island inquiry as a result of the Australian price advancing. Machinedressed clipped Algerians have been sold at ss, f.0.b., s.i., an advance of 9d a j | bushel on a few weeks ago. Prices to I farmers are from 3s to 3s 6d. Apart from : business in this class the oat market is very dull. Cocksfoot is very firm, due to inquiry from the North, and the fact that Danish seed has advanced. Standard seed is worth lid a lb. Export business in partridge peas keeps, moving, and there will be a good consignment going forward by the Dorset. Next week should about finish up the export business. There is no change in the ryegrass or clover market.

| LEYLAND-O'BMEN COMPANY DIVIDEND OF 12£ PER CENT. BONUS OF 40,000 SHARES. The 281 !i annual report of the LeylandO'lSricn Timber Company, Limited, to be presented to tho meeting on November 23. records a year of satisfactory "business. After providing for income tax, the year's profit, including the balance brought forward. amounts to £60,970. Tim directors recommend the payment of a dividend of 2s a share (free of income taxi. Is of which was paid last April. 'I his wilt absoiT) £BOOO. Th"y propose, further, to allot £2OOO for the payment of a bonus of 6d a share. The payment of these sums, together with the doctors' honoraria amounting to £6OO, will leave £50,370 to be carried forward. An extraordinary meeting of shareholders has been called for the purpose I of considering a proposal of the directors to increase the company's capital from £BO,OOO, to U120,000 by" the creation of 40,000 new shares of £1 each. The directors recommend that the 40,000 shares should be allotted as a bonus to shareholders in the proportion of one share for every two held. Following is a comparison of the company's results for the past, three years: 19-2:4 11J24l 1 J24 1923 I ' - ;C -i' i Brought forward . . 10JKW 24.228 38.97. Net profit .. .i Ifi.UUO -L.'JJ.! I Dividend (p.e.) . . 10 12. 12; } Amount . . . . 8,000 *IO,OOO 10,001) i Directors' honoraria <',oo 000 000 ] Carried forward .. £24,228 £38,977 £00.J70 * Including £2OOO from tax reserve. I Three years ago the subscribed capital I was increased from £70,000 to £BO,OOO by | tho allocation of 10,000 shares as a bonus j to shareholders. The company's reserve stands at | £55.396, and the reserve for income tax j at £20,960. I ! BULK HANDLING OF WHEAT. | PROPOSALS IN VICTORIA. I At the quarterly meeting of the council i of the Melbourne Chamber of Agriculture S recently, tho secretary read a letter from | the Victorian Minister for Agriculture | stating that a committee was dealing ! with a proposal for the establishment of a I system of bulk handling of wheat, and ! asking the views of the chamber con- ! cerning the project. The svsteni would cost £3,500.000 'a ye tr. j It- was stated that the establishment of I a system of bulk handling of wheat was j favoured by the chamber. One speaker ' said that in 1924 X- ictoria produced j -17,000,000 bush-Is of wlp-nt, on which the | farmers lost approximately £ 750,000 by ! having to bag the wheat. I ■ : AUSTRALIAN CONVERSION LOAN. I I OVER £55.000.000 SUBSCRIBED. j ' I Subscriptions to the 5i per cent. Au.rI tralian war conversion loan have reached | a total of £55,230,000. said the secretary I to the Federal Treasurer, Mr. J. R. Collins, a fortnight ago. Of that amount j conversion applications were £39.700,000. j ami cash subscription/. approximately | t15.500.000. As the amount for which | provision had to I e made was £67,000.000, | and new cash would ho used solely for j redemption, the present shortage of the j loan was abo.it £12,G00.000. It would not 1 I ■ possible, however, for the public to | take up the full shortage, as the sinking i fend commissioners had arranged to purJ chase a substantial amount of the old | loan. Onlv a proportion of the preset!'. | 1925 holders undenting applications for conversion could therefore now he aecomj modated, MARKET REPORTS. I | FRUIT AND PRODUCE, i ! There was a fair penning of poultry at j the Auckland City Markets yesterday and j a keen demand prevailed for {.-rime young ; birds. Prices for eggs tinned in consequence j of a distinct drop in the quantities coming jto hand. Butter, on the other hand, J came forward very freely. Some good lines realised high prices, hut the averj age value was low. New potatoes prac- | iicaily pushed the old varieties off the i market, though a few lots of Southern ! potatoes sold at from 9s to 10s per cwt. : The price realised for l est quality new | potatoes was as low as l.jd to 2d per lb., j while those of inferior quality were aij most unsaleable, there being a distinct ! surplus to hand throughout the week. Only Canadian onions brought really good i prices, selling at from 25s to 26s per crate of approximately 1001b. All other vege- ! tables .sold at declining rates, under the | influence of a good demand, which is j being met by fair supplies of good quality ! produce. Bananas sold over a wido range of prices. Ripe lots were rather scarce j and brought up to 30s a case; prime green j realised 17s 6d and poorer quality were sold at as low as 12s a case. Pears were much scarcer and realised moderately | good prices. Apples were as plentiful as ; j ever, values ranging from 4s per case tor ; | poor quality Stunners to 17s 6d for best \ I American apples. Fiji tomatoes and pine- • apples sold well. The following prices j i were realised : FRCIT. i Delicious apple?, choice, 10s to 12s a ease; j I others, from Gs a. case; Sturmora, choice, 9s j |to Us a cane; others, from 4j a case; ; j Dougherty, choice, lis to 8b Od a ease; small, • jss a case; .Yiunroes, as to 7s 0d a case; . I I,'rido of Am-tiaha, lis to 8s 0d a case; Am- ! eriean apples. 17s to 17 s Od a ease; 2s el lis j I pears, best, HJs to 1-ls a case: others. 7s 6d | i a ease; L\ Harry, 7. to s- (id u ease; hot j ! house tomatoes, best. Is to Is Gd per lb; j j Fiji tomatoes, best. to Us a case; Aus- ' I tralian oranges, his (id to 18s Od a, ense: j 1 lemons, 7s to las a ease; rip.- bananas, 28 s j j to 30s a case;- prime sreen. 17s (Ut a ease; j others, 12s to las a case; Fiji pineapples, j j Its to 15s Od a case: strawberries. Is I'd i ) to 3s (id a chip; gooseberries. 17s 3d to 18s i a case. : j FIELD PRODUCE, j New potatoes, best quality, lid to 2d per I lb; Canadian onions. 21s to 20s a erato;, cauli- ! j flower, 3h to 10s a sack : cabbage, .'is to 10s u. sack; lettuce. 2s to 7s a case; kumaras, Ms it ) 18s per cwt; pumpkins, 2s Od to <ls each : I cucumbers. 8s to 12s a dozen; ureen peas, 5d to Gd per lb; French beans. Is (id to 2s per j lb: broad beans. 2'd to .'Ud per 11>; aspara- > f-T is, 8d to Is -id a bundle; spring onions, ',]([ to Is a bundle; leeks, ltd to 3d a bundle: spinach. !ld to Is iid a dc.7.>n bundles; rhubarb, Bf, to ts n dor.en bundles; carrots, parsnips, beet, and turnips, 8d to Is 2d a dozen bundles. DAIRY PROnUCK. Hen o(:gs, Is I'd to Is {Ud a dozen; pullet Ci-'gH, Is Jcl to Is I'd a dc/.eit, duck- imirs. Is IJd to Is r id a dozen: farmers' butter. Is 2d to Is Old per lb; averago price farmers' butfer, Is :}Jd per !b. POITDTRV. Prime young cockerels, 6s to 9s 3d each; | small, 2a to 5s lid; heavy hens, 4s 3d to j fis :{d; light, 2k Gd to -Is; roosters, 2s lid to j -Is 9d; old ducks, Us to Ms (id; young drakes. I 2s 9d to Os fid; day-old chicks, ,'id to Od ; duck- J lines, Gd to Is !id; cockerel chicks, .'id to j 6d. -

VariaPrice, lion. Consols, 2} per cent. . . 55 i* British, 3'. p.o. war 1imi.ii ! 97 t »* British 0 p.c. war loan . 99, i * British Conversion, i>.<•. .. 75 j ■1" Xew Zealand, t p.c., 192!) . 95,; S. New Zealand, P.c.. 1910 86 I S. Now Zetland, : ! p.c.. 19-15 . 77 s. New Zealand, 0 p.c.. 1030-51 . 11)8 V s. Commonwealth, 6» P.c.. 1922S7 9t»i Ji"' ('oninionwealtli. (i p.c., 1931 -11 101 s. N.N.W., t , 1933 .. . . 92; ,[* n.s.U'.. ;s p.o., 193:. 77' i * N.K.W.. 3'. p.o. , 1'.130-50 82; N.K.\V.,.(,i p:o., , 1930 10 . 1021 S. N.S.W., ('• P.O., 1930-10 . 105', 1 * Victorian, .'!>■ p.i 1021-20 . . 100 ; • Victorian, 3 p.c. , 1929 10 73s Victorian, 3] p.i i-., 1929-49 .. 70 J i Victorian, 51 p.i 1930-10 . joi; ? i Queensland, 31 p.c., 1921-21 . 93 si Queensland, 0 ; P.O.. 1922-47 . 7o: s. Queensland, ti p.c., 19.10-10 . 103; s. 8. Aust., 31 pj i., 1939 84 S. Aunt., (j( p.c ., 1930- i 0 .. 105; S. Aust., 3 p.c ., optional v lilii i+ 1 asmanian, 3| p.o., 1920-40 . 84 s. 'I'asrminifin, 3 P. c., 1920-40 . 80 c s. Tasmanian, 6 J p.c., 1930-10 .. 105, s. \V. Aust., ]5,! 1920-35 87 i 1 1 W. Aust., 3 p.c ., 1015-35 . 83 J- {*' W. Aust., p.c ., 1930-40 . 103i i* ! Higher, '.Lowe r. S, Same. -—Note quoted last v ••eek. tEx interest. SHORT LOANS A \ND BILLS. Short, loans, 3 per cent., same ; is last week; three mr, intlis' bills, 3 7-8 per cent., compared with 32 per cent. last, w •eek. FOR EI I IN EXCHANGES. The following rates on foreign exchanges are current to day, -s compared with the cabled quotath ... . on i Novernber 2 and par:— Nov. 5 Nov. 2. Psir. New York, dol. . . 4.842 4.84 9-16 4.860 Montreal, dol. .. 4.84| 4.83; 4.866 •Paris, ir. . . 1221 116.25 25.225 Brussels fr. . . 100.90 106.95 25.225 Home, liro . , . . 123 122J 05 001-, Berlin, r.rn . . . . 20.30 20.35 20.43 Stockholm, kr. . . 18.13 18.11 18.159 Oslo. kr. .. 23.78 23.73 18.1,59 Copenhagen, kr. . . 19.43 19.36 18.159 Calcutta, pence .. 10 3-10 16 3-16 21 lloiifTKong, pence . . '281 29 i Yokohama, pence . . 20^ 20S 24 J Amsterdam . . . . 12.04 "12.01 Batavia . . .. 11.98 i2