QUOTATIONS FOR WHEAT.

New Zealand Herald, Volume LXVIII, Issue 21068, 30 December 1931, Page 5

QUOTATIONS FOR WHEAT.

LONDON AND LIVERPOOL. CHICAGO FUTURES MARKET. (Received December 20, 5.5 p.m.) LONDON, Dec. 28. Wheat, cargoes steadied and firmed on week-end American advices, also lower world shipments, but buyers aro aloof. Business is reported in Australian cargoes for tho Ear East, for which Russia is seeking January tonnage. Parcels aro dull and unchanged. Futures. —London: December and February, 24s 3d per quarter; June, 25s 3d. Liverpool: December, 5s 13<1 per cental; March, 5s May, 5s 7|d; July, 5s 8;d. CHICAGO, Dec. 28. Wheat.—December, 53 cents per bushel; March, cents; May, 55J,cents; July, 54j cents. The cash quotation at New York is 67§ cents. FRUIT FOR ENGLAND. DOMINION SHIPMENTS. CONDITION ON ARRIVAL. LONDON, Dec. 20. The Empire Marketing Board has published the report of its economic sections on the investigation of the condition on arrival of Australian and New Zealand apples and pears for tho years 1927 to 1930. The report states that surveys at tho docks confirm the view that bitter pit is more extensive in early picked applos than in those picked late. A marked reduction of this wastage could be effected if the harvesting of susceptible varieties did not, commence until later than is now customary. Also, in view of tho immature condition of many early shipments, later picking would lie of benefit from the point of view of eating quality. • Investigations aro in progress at the, Ditton experimental station into methods of securing and keeping a uniform temperature. These are likely to have an important bearing on the control of bitter pit. NATIONAL BANK OF N.Z. PREMIUM ON DIVIDEND. Payment of the interim dividend of 4 per cent, free of tax for the half-year ended September 30, will be made by the National Bank of New Zealand, Limited, on January 4. Tho dividend will be payable in New Zealand, at any branch of (lie bank at tho current rate of exchange for demand drafts on London on the date of negotiation. This makes the interim dividend equal to £4 6s 9d per cent. The bank has a subscribed capital of £6,000,000, of which £2,000,000 is paid up. Tho reserve fund invested in Government, securities is shown at £2,000,000, and reserve liability of shareholders £6,000,000. In addition there are undivided profits carried forward of £168,457. In the last balance-sheet the bank's liquid assets stood at £6,p49,000, which are equivalent to 44.3 per cent., or 8s lOd in the pound, of total liabilities to the public, and for every £1 of its own funds the brink is holding only £3 5s 6d of (he public's money. BRITISH MO T OR TRADE. RILEY COMPANY'S DIVIDEND. Tho report of Riley (Coventry), Limited, motor manufacturers, for the year ended August last, shows a profit of £78,758. In view of the more settled state of affairs owing to tho election of tho National Government, the directors have decided to pay a dividend of 20 per cent., which compares with 10 per cent, for the two previous years. TRADE RECOVERY. CONSTRUCTIVE SELLING NEEDED. In an address tn the Advertising Club of Birmingham, Mr. Russell Chapman pointed out. that many Birmingham linns still confined themselves to the slow and, as they thought, sure methods of personal salesmanship anil representation, ignoring the possibilities of a mass attack upon their market by means of advertising. "It is obvious," said Mr. Chapman, "that failure to sell an increased quantity of our manufactured articles must render impossible a reduction of our unemployment figures, the more successful use of our capital, and any increaso in wages, without all of which there can be no revival of those schemes ana plans to improve the standard of living with which, as I said at the outset, I am personally in full sympathy. "Therefore I say, and I say emphatically, that advertising, wise advertising properly applied, co-operating with market research, following the necessary adaptation of the HrLiclo'to climate and peoples, the tastes and idiosyncrasies of varying nationalities; adapted again in some cases to meet vagaries of fashion, and prejudices as to colour and form; playing its proper and indispensable part in a great campaign for trade improvement; bringing in its train all those desirable results and possibilities that we have examined —(his is, to my mind, as essential in Birmingham as in (hose other centres of industry where the index figure of unemployment, is regrettably so much higher." FOREIGN EXCHANGES. British Wireless. RUGBY, Dec, 28. Tho following rates on foreign exchanges were current yesterday, compared witJi the cabled quotations on December 22 and par.: —

CUSTOMS EXCHANGE RATES. Rates of exchange ruling at the announced date of departure of. the vessels named are shown in the following table. They are subject to confirmation by the Customs Department, when the exact time of departure is learned on the arrival of tho vessels in New Zealand, finally declared rates being marked* : Canadian Transporter, Cnnadn, dollars 4.17 Golden Cross, Canada, dollnrß . . . . *4.2!) (iolden Cross, U.S.A.. dollars . . . . City of Dunkirk, U.S.A., dollars .. <3.~S Sydney Main, Japan, yen 35d Aorangi, Canada, dollar# . , . . .. *3.97 Aoratigi, U.S.A., dollars ~ > > ~ *3.40 Aoran&i, Honolulu, dollar* , .. .. *3.17

Bee. 27. Dec. 22. Par. Montreal, del. •1.20 4.175 ■1.800 New York, do). . .1.475 3.425 1.800 Paris, fr. 87.25 87.50 12-1.21 Brussels, belga .. 2-1.60 21.60 35.00 Geneva, fr. 17.60 17 0-10 25 '22 Amsterdam, fl. .. 8.50 8 7-10 12.10 Milan, lire 67 5 67.50 02.46 Berlin, r.m. 11 7-10 14.40 20.43 Stockholm, kr. .. 17 15-10 18 18.159 Oslo, kr. IS.25 18.25 18.159" Copenhagen, kr. . IBi 18i 18.150 Vienna, sch. 29* 30 34.585 Prague, kr. 115.50 1 15.50 21.02 HelHinsIorB, mark 227.50 210 129.23 Madrid, lies. ■10 7-10 403 23.225 Lisbon, cscu. 100.75 170 44 Athens, dr. 200 200 375.00 Bucharest, lei. .. 570 520 25.225 Rio do Janeiro, mil 4.25 4.25 5.899d Buenos Aires, dol. <i0i 41 47.57d Montevideo, dol. 31.50 31.50 •17.57J Bombay, rupeo . J 8 5-32 18 0-04 18d Shanghai, tael .. 238 35.25 — Hongkong, dol. . m 17 — Yokohama, yen . 20.25 28.50 24.5Sd 'Sellers.