STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20870, 12 May 1931, Page 5

STOCK EXCHANGES.

YESTERDAY'S SALES. RETURN OM INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. Jn the second column is givon the return,, based on the last dividend, from investment at the quoted price. In the case of Government and other redeemable securities the return includes redemption. In calculating the returns on shares in companies which pay their dividends outside New Zealand exchange rates, be'ng liable to fluctuations, have not been taken into consideration. The first column gives the figures at which the sales were made:— AUCKLAND EXCHANGE. Return on Sale Price. Investment. £' r d £ a d Stli. British Insurance 2 11 6 5 3 (> N.Z. Breweries . . 114 3 7 6 0 Tirnuru Brewery (5s paid) .. .. 0 fi 0 8 0 8 Wilsons Cement . . 2 0 1! 6 4 3 Ditto . . ..2 0 0 6 5 0 The following soles also took place:—Now Zealand Refrigerating (con.), 3s Id; Mounalaian Mining, Is Id. CHRISTCHURCH EXCHANGE. Com. Bank of Aus. . 014 6 812 5 Ditto (prof.) . . 510 0 7 5 5 N.Z. Breweries (3) . . 113 9 7 8 2 Ditto . . . . 114 3 7 6 0 Die following sales were also made:—English, Scottish and Australian Bank, £4 lis; New Zealand Refrigerating (10s paid), 3s 3d (5); King Solomon, '2s 4d (3); Mahakipawa, 8d (2), B{d. WELLINGTON EXCHANGE. Ins. Stk., 1938, 4\ . . 98 10 0 4 15 2 Dunedin City, 1932, G 99 17 6 6 2 6 Union Bank (two late sales Sat.) . . 710 0 613 4 DUNEDIN EXCHANGE. Com. Banlc of Aus. . 014 6 812 5 National Insurance . 013 3 513 2 The following sales were also made:— Bruce Woollen, 10s; King Solomon, 2s sd.

LONDON WOOL MARKET. PRICES EASIER LAST WEEK. LONDON, May 10. The representative of the Australian Woolgrowers' Council, Mr. Dcvereaux, reports that there was an easier market last week in London, partly owing to the reduced French demand, because of fears of a strike by the operatives. There were also difficulties in maintaining the prices of tops and yarns at all centres and there was a general fall of 5 per cent, compared with opening rates for both Merinos and crossbreds. The fall was mostly experienced in scoured Merinos, short scoured slipes and medium to coarse crossbreds. The Bradford market is stagnant, and little new business is offering.

PRODUCTION OF SUGAR. NATIONS AGREE TO LIMIT. BRUSSELS, May 10. The delegates to the International Sugar Convention have signed an agreement limiting tho production for five years. The International Sugar Convention, which was attended by representatives of Britain, France, Germany, Italy, Cuba, United States. Java, Poland, Hungary and Czecho-Slovakia, met in Brussels last December. After discussions which lasted a week (lie delegates failed to reach a final agreement on the sugar restriction scheme, owing to the increased export quota demanded by Germany, and tho conference was adjourned. Tho cablegram indicates that the settlement was reached upon the conference resuming. Speaking at the half-yearly meeting of the Colonial Sugar Refining Company at' Sydney on May 6, the chaiarman of directors, Mr. E. W. Knox, said that if an arrangement between the principal sugarproducing countries (o limit the output of raw sugar from factories were observed, prices were bound to reach a paying level. It was hoped that prices would soon improve. The world's market for sugar was much depressed owing to over-production, while the reduction in the consumption of sugar in Europe and in the United States was estimated at 3£ per cent. EXPORT OF APPLES. CLOSING DATES FIXED. The official closing date for submitting late varieties of apples for export has been fixed by the Department of Agriculture for May 21 for Dougherty, Grannie Smith and Yates. All other late varieties will close on the dale fixed in the regulations, May 12. Application has been made to the department to postpone tho date for tho three varieties mentioned to May 30, owing to the fact that the final steamer is not expected to load at Auckland before the end of the month. Both the Fruit Control Board and the senior orchard instructor, Auckland, are urgently making a request to the department along these lines. No further cabled information regarding prices has been received so far as Auckland's fruit is concerned, but as an indication the prices for Southern fruit on the Mataroa are cabled as follows Cox's, 12s to 17s; Jonathan, 12s 6d to 14s; Delicious, 13s to 14s 6d; Dunns, 10s to lis; Boscs, in crates of three trays, lis to 12s a crate; Boscs, in crates of half-cases, 12s to 15s a crate. These are gross prices, but the existing position of exchange should make them almost equal to net c.i.f. London. The Control Board has received information from its South American agents to tho effect that there may be a lower range of prices offering on that market this season and suggesting that the board curtail to some extent shipments there. It was originally arranged that 75,000 cases be aimed at, but this information reaching tho board in time enabled a shipment of 42.000 booked for the Port Nicholson to be diverted to the Continent of Europe. This will mean that the total shipped to South America this season will not be in excess of 45,000 cases. HIDES AND SKINS. TIIE WELLINGTON SALE. The state of the London market was reflected at the fortnightly sale of sheepskins. hides and tallow, held in Wellington. Competition was good at a general do cline of id per lb in dry sheepskins, while salted lots showed very little differ once on last sale's prices. There was a good inquiry for hides at rather a lower range of values than that ruling last sale, but it must be taken into account that wintei condition is now beginning to show on the bides and this naturally affect* tho prices. Cow hides showed a decline ot about id, light and medium ox |d to 3-Bd, with heavy ox up to £d lower. Yearling and kip were about jd lower, while calfskins sold from to jjd below last I sale's level.