COMMERCIAL.

New Zealand Herald, Volume LXIII, Issue 19328, 15 May 1926, Page 9

COMMERCIAL.

—. THE LONDON MARKETS. BANK OF ENGLAND RETURNS. COMPARISONS WITH LAST WEEK. Australian and N.Z. Cable Association. (liecd. 7.5 p.m.) LONDON. May 13. The Bank of England returns for tho week ended May 13, as compared \vith those for the week ended May G, arc as follow: Mav 13. May G. £ £ Note circulation . . Ml.fisi.ooo 141.19fi.000 Coin 118/26:1.000 140. '."00.000 Reserve . . ' . . 26,3(51.000 2G,029.000 Govt. deposits . . '2l '2151.000 10,701.000 Other deposits . . 102.351.000 107..150.000 Oovt. securities . . 40.130.000 42.230.000 Other securities . . 09.672.000 73.511.000 Proportion of reserve to liabilities . . 21.30 20.00 SHORT LOANS AND BILLS. Short loans, 4J per cent., compared with per cent, last week; lhreo months' hills, 4 13-32 per cent., compared with 4 17-32 per cent, last week. CONSOLS AND COLONIAL STOCKS. The following table gives quotations'for couspls and colonial inscribed stocks, compared with those of May 6:— Price. Variation. £ s <1 s rl. Consols, '2par cent. . . 54 15 0 17 til" British 31 War Loan . 07 I'2 B 7 Ht British 5 War Loan . . 100 0 0 01 Conversion Loan, 31 . . 74 17 6 57 0* Com'wealth, 6J 1022-27 . 90 10 0 5 0* Com*wealth, G. 1931-41 . . 103 0 0 7 (it Victorian, 3. 1920-19 . . 71 10 0 5 Ot Victorian, 3|, 1929-49 . . 77 10 0 5 Ot Victorian, 55-, 1930-40 . . 100 0 0 Same. Victorian, 5, 1032-42 . . 90 0 0 ]5 Ot Victorian, 4j. 1910-60 . , 95 10 0 5 Ot N.S.W., 4, 1033 . . . 01 10 0 15 Ot N.S.W.. 3. 1935 . . . . Si 15 0 Same. N.S.W., 3K 1030-50 . . 73 10 0 15 0* N.S.W.. SL 1922-32 . . 100 0 0 5 01 N.S.W., 6L 1930-40 .. 301 0 0 Same. N.S.W., 6. 1930-40 .. 101 0 0 Same. Queensland, 3*. 1930 . . 02 5 0 10 Ot Queensland. 3, 1922-47 . . 68 5 O Same. Queensland, 6, 1930-40 . . 102 10 0 Same, Now Zealand. 4, 1929 . . 95 15 0 15 0t New Zealand, 3{, 1940 . . P4 5 0 Same. New Zealand, 3. 1945 . . 74 10 0 Same. New Zealand, 6, 1936-51 . . 107 10 0 10 0t S. Australia, 3j, 1939 . . 63 5 O 15 Ot S. Australia, 3, 1916 or after 59 10 0 Same. S. Australia, 61. 1930-40 . 103 15 0 5 Ot Tasmania. 35, 1920-40 . . 83 0 0 15 Ot Tasmania, 3. 1920-40 . . 79 0 0 Same. Tasmania. 6i. 1930-40 . . 104 10 0 10 0t W. Australia, 3». 1929-35 85 5 0 Same. W. Australia. 3, 1915-35 . 83 O 0 Same. W. Australia, 6. 1930-10 . 102 10 0 Same. tHighor. *Lower. FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on May 1Q and par:— May 13. May 10. Par. Brussels (fr.) .. 154.62 157.13 25.225 Paris (fr.) .. 154.75 155.13 25.225 Stockholm (kr.) .. 18.17 18.14 18.1-.9 Oslo (kr.) .. .. 22.49 22.53 18.159 Copenhagen (kr.) . 18.58 IS.GO 18.1i9 Berlin (r.m.) . . 20.44 20.38 20.43 Calcutta (pence) . 17 15-16 IS '2-1 Yokohama (pence) 23 3-16 23_1-32 Ll-i Hongkong (pence) . 265 27J Montreal (dol.) . . 4.86 4.84J 4.866 Now York (dol.) . 4.86 3-16 4.85 7-1G 4.806 Amsterdam (fl.) .. 12.Q9J 12.08 12.10 Batavia (fl.) . . 12.075 12.061 THE METAL MARKET. (Quotations on May 10 in parentheses.) Copper.—Spot, £56 13s 9d (£56 lis 3d); three months, £57 13s 9d (£57 8s 9d). Lead.—Spot., £2B 5s (£27 7s 6d); three months. £2B 13s 9d (£27 16s 3d). Spelter—Spot. £32 (£3l 17s 6d) ; three months, £32 6s 3d (£32 3s 9d). Tin.—Spot, £274 7s 6d (£269 17s 6d) ; three months, £269 12s 6d (£264 2s 6d). Silvor.—Standard, 30 l-16d (30 7-16 d) ; fine, 32 7-16 d (32 7-8 d). WHEAT. The wheat market is quiet. Quotations aro from 53s 6d to 60s and occasionally lower. Parcels arc in moderate request. Australians are at lato rates and others are easier. Liverpool futures aro quoted as follows:—May, lis lOd per cental; July, lis 6d; October, 10s 7d. The spot trade is stagnant and prices are nominal. Australian, ex ship, is quoted at 645. WOOL. The Bradford wool market is firm, but very little business is being transacted, pending a, return of normal services. MELBOURNE PRODUCE. Australian and N.Z. Cable Association. MELBOURNE. May 14. Following were to-day's quotations on the Melbourne produce market:— Wheat, —Quiet, 6s sd. Oats. —Milling, 3s 8d to 3s 9d; sellers to 3s lOd; feed, 3s to 3s 3d. Barley.—English, 4s to 4s 6d; Cape, 3s 9d to 4s. Potatoes.—£lo 10s to £ll 10s per ton. Onions.—£2o to £2l per ton. MARKET REPORTS. FRUIT AND PRODUCE Small and inferior grades of apples were still in large numbers at the Auckland city markets yesterday and these tended to make tho demand poor. There were good supplies of other fruit and the demand was keen. Oranges, particularly, were in heavy supply and sold at low prices. Tomatoes were in low supply and there was a marked lise in prices for all grades. Locals brought up to 103 a box and 6d to 8d a lb. was realised for tho hothouse variety. Mushrooms are practically finished and brought up to Is per lb. yesterday. Hothouse grapes are also becoming scarco. Good dessert pears were in very keen demand. I'ljl pineapples in email numbers made their first appearance on the market yesterday. The offering of vegetables was again heavy, but a good demand kept the prices firm Root vegetables proved difficult to sell. Prices for celery are still low, some dualities being sold at Is a bundle. Prices for lettuce have shown little improvement, the wet weather deadening the demand. Poultry was in heavy supply and the demand keen. Most of the stock offered, however. failed to bring the prices ruling at last week's sale. Pa liners' butter was again short, prices ranging from Is 4d to Is 7d per lb. Eggs were more plentiful and prices eased a little. Hens' eggs dropped to 3s 3d per dozen. Preserved hens' eggs sold at 2s to 2s 3d per dozen. Tho following prices were realised. FRUIT. Apples.—Delicious, 3s to 6s Gd a case; others, 3s to 4a: Stunners, real prirv-e, 8s to 8s Gd; Jonathans, best. 6a to 7s; Balhv rats, 5s 6d to Gs; Monroes, 3s Gd to 4s Gd; Pride of Australia, 3s Gd to 4s 6d: Northern Spys, 33 to Gs: Golden Russets, 4s to os Gel; pears, Coles, lis to 13s a case; P. Barry, os to Gs 6d; Keiflfers, 4s to 8s; tomatoes, local, 7s to 10s a box; second grade, 3s to ss; Ffutts, 7e 6d to 9s; hothouse, 6d to Sd'per lb.; grapes, hothouse, extra choice. 3s to 3s 6d per lb,; others, 2s to 2s 6d; second grade, Is to la 9d; tree tomatoes, 4s to 7s Gd a lox; Cape gooseberries, 6d to 7d per lb.; passion fruit, 5s to 8s a box; bananas, repacked, 24s to 28s a case; oranges, Rarotonga, 83 6d to 9s Gd a case; Aitutaki, 10s to Us; mushrooms, Gd to Is per lb., according to quality; persimmons, 43 to Gs a box-, lemons, local, 6s to 12s 6d a case; beet cured, ,12s Gd to lfis; Fiji mandarins, 4s to 5s a box; Fiji pineapples, 12s to 14s a case. FIELD PRODUCE. Potatoes, local, 3s 9d to 5s a bag; Southern 9s 3d to 9s 9d per ewt.; onions, local, lis to 13s 6d; Southern, 12s 6d to 14s; kumaras. Id to lid per lb.; pumpkins, 5s Gd to 9s per ewt.; citron melons, 7a Gd to 9s; cabbages, 8s to 6s 6d a sack; cauliflowers, best, 10s 6d to 15s; others, 3s to Gs; lettuce, Is to 2s Gd a case; marrows, 2s to 3s Gd a bag; rhubarb, 3s Gd to 4s Gd per dozen; celery, Is to 2s 3d a bundle; cucumbers, 10s to 103 a bushel case; leeks, 2d to Gd a bundle; swedes, 3s to 4s Gd per ewt.; cholcos, about Is per dozen; spinach, Gd to 9d a dozen; cauliflowers, looso, 4d to Is each: cabbages, loose, Is 6d to 3s per dozen; carrots, parsnips. best and turnips, 4d to 1b a dozen bundles. POULTRY. Cockerels, hea,vy, 4s Gd to 7s; light, 3s 3d to 4s Gd; hens, heavy, 8s 6d to ss; light, 2s 3d to 3s 3d; old ducks, 2s 6d to 3s; young drakes. 8s 3d to 4s 3d; pullets, purebred, Ss 6d. to "s 6d. DAIRY PRODUCE. Eggs.--Hens, full size, 3s 2d to 3s 3d per dozen; intermediate sizes, 2s 9d to 2s lid; pullets, 2». 6d' to 2s 8d; ducks, 2s 7d to 2s 9d; preserved hens' eßgs, 2s to 2» 8d farmers' butter. Is 4d to 13 7d per lb.

AUCKLAND COMPANIES. ONE NEW REGISTRATION. Ono private company was registered in Auckland yesterday. Details aro as follow :--- Campbell (Traders), Ltd., explosives and ammunition manufacturers, etc. Capital, £ISOO. Subscribers, Charles Edward Campbell. agent, Auckland; Charles Albert Campbell, merchant, Auckland; Noel Johnston Campbell, merchant, Auckland; Mervyn Hope Campbell, biograph operator, Auckland; and John Thomas Rowe Leggo, technical instructor in explosives, Nelson, 300 shares each. WRIGHT, STEPHENSON AND CO. DIVIDEND OF 7 PER CENT. [BY TEL EG RATH.—OWN CORRESPONDENT.] DUNEDIN. Friday. The report by tho directors of Wright, Stephenson and Co., for tho year ended March 31, the 20th year of the company's existence, states that tho profit and loss account, including £30,050 9s Id brought forward from last, year, shows a credit balance of £75,706 17s 3d, from which has been deducted the interim dividend for tho six months ended September 30, 1925, £17,178 13s lid, leaving the balance available for distribution £58,528 3s 4d. j Out of this sum the directors recommend that, after making the fixed payment of 5£ per cent, nn the preference shares, a dividend of 3£ per cent, for the half- | year bo paid nn the ordinary shares, | which, with the 3i per cent, paid on October 5, makes the dividend 7 per cent, for tho year. This will leavo £41,349 j 9s 5d to be carried forward. The dividends arc at the usual rate. The company's net profits in the last three years have been :—1923-24, £38,809; 1924-25, £45,170; 1925-26, £45,657. In that period the balance carried forward has increased from £13,481 to £41,349. THE FLAX INDUSTRY. INCREASE IN OUTPUT. Figures supplied in a return by tho chief hemp grader indicate that during the year ended March 31, the total quantity of hemp graded iti New Zealand for export was 93,875 bales, an increase of 7899 bales over tho amount (85,976 bales) graded in the preceding year. The percentage graded high fair was much the same in both years; it was 52.42 in 1925-26 and 52.28 in 1924-25. The details for 1925-26, with the corresponding figures for 1924-25 in parentheses, are as follow: —Superfine, .66 (.47); good fair, 7.32 (9.71); high fair, 52.42 (52.28); low fair, 32.14 (30.88); common, 4.75 (4.39): rejected, 2.62 (2.17): condemned, .064 (.14). Wellington's share of the total was 32,085 bales, Foxton's 23,404 bales, Auckland's 19,742 bales, and Bluff's 10,243 bales. In tow, 1925-26 showed an incrense of 2888 bales (25,211-22,323). _ The grades for last year and the preceding year are: —First grade, 14.9 (16.92) ; second, 65 2 (64.49); third, 16.21 (15.39); condemned, 3.64 (3.2). Wellington's share of the total was 6766 hales, Auckland's 5766, Bluff's 5115, Foxton's 4579. CANTERBURY MARKETS. [BY TELEGRAPH.—PRESS ASSOCIATION.] CHRISTCnURCH. Friday. The only lino of produce to excite interest at the moment is potatoes. Everything is dependent on the Australian demnnd. If it develops as expected good prices are assured; if it does not there will be a surplus of potatoes. Tho prompt market is being over supplied and there is a shade of difficulty in securing £4 15s on trucks. For later months £6 7s 6d to £6 12s 6d f.o.h. is quoted, or the equivalent of £5 tr £5 2s 6d on trucks. The Waikouaiti is due to sail next weekend for Sydney with approximately 15,000 sacks. Onions aro quoted at £ll to £ll 10s a ton. It is expected that 150 tons will be shipped to Australia by the Waikouaiti next week. There is a slightly improved lone in the oat market although prices are no better Spread June-September sales have taken place at 4s 3d for A Cartons and 4s for B grade. Peas have failed to materialise as expected and shippers have had to pay weighty prices to fill orders. The later sown nea crops turned out disappointingly and the expected big yield has not materialised'. All classes of seeds are very dull, cowgrass being about the only item in which business is passing. CHICAGO WHEAT PRICES. Australian and N.Z. Cable Association. NEW YORK, May 13. Chicago wheat quotations are : —May, new, 160| cents per bushel; old, 159.} nets per bushjl. July, 136} cents per bushel. September 132 A cents per bushel. FEILDING STOCK SALE. [BY TELEGRAPH. —PRE S3 ASSOCIATION.] FEILDING. Friday. Closo on 10.000 sheep wore yarded for the Fielding stock sale to-day, both fats and stores. Fats comprised only medium quality, which sold at late rates. In the store pens a few [rood lines of ewes and wether lambs met with spirited bidding and sold at an advance on late rates. Other sheep of medium and poor quality met with a dragging sale and a number of the lines were passed. Owing to the roueh. weather the sheep looked worse in condition than they actually were. Fat Sheep.—Lambs, 19s 3d to 24s 3d: ewes, 15s to IBs 10c!: wethers, 26s to 27s Gd: h.f., 20s Sd to 23s 4d. Store Sheep.—Wether Inmbs, 10s Id to 17s; ewe lnmhs, 12s 9d to 22s 6d: stud owes, 21s to 26s Gd; four and six-tootb&d four-year ewes, r.w. s.d. rams. 22s 6a: two-tooth wethers, 17s 10d to 23s 6d: b.f. Inmbs, 13s 6d to 17s; ewes, 5s lOd to lis fid: four and five-year ewes. r.w. s.d. rums, 20s Gd, 21s; rn.s. lambs, 10s 7d; f.f. ewes, 16s; four-year ewes, r.w. Roinney rams; 22s 3d; four-tooth wethers. 21s 7d. There was no demand for cattle.