SATURDAY'S SALES.

New Zealand Herald, Volume LXVII, Issue 20491, 17 February 1930, Page 5

SATURDAY'S SALES.

BUSINESS ON EXCHANGES.

RETURN ON INVESTMENTS.

Following is a list of Saturday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last dividend, from invest,jnent at the quoted price. In the case of Government and other redeemable securities the return includes redemption. The first column gives the figures at which' the salos were made:—

LONDON WOOL SALES. NEXT SERIES IN MARCH. | PROBABLE BALES AVAILABLE. LONDON, Feb. 14. Ifc is impossible to state the actual amount of wool that will be available for the sales to be held- in London on March 18, as the list will not be closed until March 11. However, it is roughly estimated that the total will be about 190,000' bales. These will include 25,000 bales from Patagonia.

MARKETING SCHEME.

BRITISH STATE AID. (Received February 15, 5.5 p.m.) British Wireless. RUGBY, Feb. 14. It was announced at' a meeting of farmers at Leeds that the Government was prepared, to assist a wool marketing scheme by granting a loan of. £3OOO a year for a term of years without interest, if the woolgrowers would contribute £SOOO.

LONDON DAIRY VALUES

PRODUCE BOARD'S REPORT,

The New Zealand Dairy Produce Board has received the following market report from its London office dated February 14, prices for the previous week being in parentheses:— Butter.—New Zealand: Salted, 150s to 152s (1.52s to ,1545) (last year, 178s to 180s); unsalted, 164s to 172s (166s to 170s), (last year, 186s to 188s), 150s to 152s equals approximately Is 2£d f.o.b. First whey, 142s (1465); second whey, 140s (1445). Delis-cries New Zealand this week, 1179 tons; in store, 5088 ton's (last, year 2900 tons). Australian: Salted, 145s to 148s (148s to 1525); unsalted, 146s to 152s (150s .to 1565). Argentine; Unsalted, 1465, 148s, up to 150s (146s to 150s). Danish.—F.o.b., 168s "(172.4); spot, 177s to 178s (176s to 178s). Dutch; Unsalted, 184s to 188s (1863 to 188s). Siberian: 148s (150s). Polish: 136s to 142s (140s to 1445). Market slow. Retail prices unchanged. Cheese.—New Zealand: White, 90s, ex. 91s (90s to 91s), (last year, 88s to 89s); coloured, 88s to 89s (88s to 89s) (last year, 91s to 925). 88s to '9ls equals approx. B£d f.o.b. Deliveries New Zealand this week, 16,936 cratos; in store, 50,189 crates (last year. 58,500 crates). Australian: White, 88s to 89s. coloured, 86s to 87s. Canadian : White, 96s .to 100s (96s to 100s); coloured, 96s to 98s (96s to 98s). Deliveries Canadian: 4850 boxes (last year, 2800 boxes); in store, 140,376 boxes (75,169 boxes). English: Finest farmers', 112s to 120s, Market quietly steady. Retail prices unchanged.

WHEAT IN AMERICA.

SURVEY OF POSITION.

(Received February 16, 11.25 p.m.) WASHINGTON, Feb. 15,

The Department of Agriculture!, in its survey, indicates that, favoured by a decline of about 40,000,000 bushels in tho visible supply siheo the poak last October, an improvement in wheat prices from tho recent market' decline appears likely in tho next few weeks. The total of the visiblo supply is still larger by 37,000,000 bushels than in 1029.

! Farm prices for wheat would remain on the average for January, owing to tho decline in market prices. The prico that month averaged ono dollar 7.5 cents. Market prices declined from 1 dollar 26 cents to 1 dollar 18 cents during tho month.

The world wheat situation is reported to be unchanged, with the foreign demand fov American wheat remaining disappointingly'weak. No attompt is made to forecast tho 1930 wheat crop, but tho survey says the condition of the winter-sown crop must be watched closely for the remainder of the season.

MEAT FREEZING INDUSTRY.

" PRESSURE " FROM OVERSEAS

[by telegraph.—press association.] INVERCARGILL, Saturday.

Speaking at the annual meeting of the Southland Frozen Meat Company, which declared a 12 per cent, dividend, the chairman, Mr. John Gilkison, said that steady and continued pressure by larjre oversea meat interests was resulting in the ownership or control of New Zealand works passing to them. The outlook did not promise a continuance of high prices owing to increased production, notably in the Argentino. While the .directors did not desire to sell, circumstances might prove too strong or too tenanting.

QUEENSLAND COTTON.

BRISBANE, Feb. ,15

The Queensland Cotton Board has

agreed to take over the works of the British Australian Cotton Association. These will be operated on a co-operative basis.

MELBOURNE PRODUCE. MELBOURNE. Feb. 15. The following are to-day's quotations on the Melbourne produce market:— Wheat.—4s lOkl a bushel. Flour.—£ll 15s to £l2. Bran.—£7 15s. PoJlard. —£8 15s. „ Oats.-r-Milling, 3s 2d to 3s 3d. Feed.—3s. * _ Barley.—English, 3b I0d : Cape, 2s lid.

AUCKLAND EXCHANGE. Return on » Sale Price. Investment. £' s. d. £ s. d. Bank of N.Z. . . 2 17 9 4 19 3 Ditto . . . . 2 18 0. 4 18 10 Renown Col. (pref.) 0 3 0 — The following salo also took place:—Wailii Goldmining Company, 13s 6d. CHRISTCHURCH exchange. Aus. Bank, of Com. 16 4 5 10 6 Com. Bank of Aus. (2) 1 3 0 6 10 5 Ditto (2) ..131 6 10 0 Ditto (rights) .. 0 2 0 — Nat. Bk. of A'sia . . 15 8 6 6 9 8 Union Bk. of Aus. (2) 11 17 0 5 5 6 Colonial Sugar .. 43 7 6 5 15 3 ,Mt. Lyell (2) . . 1 14 9 11 10 2 Dalgoty and Co. . . 12 0 0 7 1 8 Elcc, Zinc (pref. 2) 1 11 0 7 14 10 Kainpoi Wool, (con., 2) 0 3 7 7 16 3 The following sale also took place:— Mahakipawa, 3d.