STOCK EXCHANGES.

New Zealand Herald, Volume LXIX, Issue 21160, 18 April 1932, Page 5

STOCK EXCHANGES.

SATURDAY'S SALES.

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 annual dividend, from investment at the quoted price. In the case of Government and other redeemable securities no return is given, in view of the new method of quotation, but the months in which interest is due are shown. In calculating the returns on shares in companies which pay their dividends outside New Zealand exchange rates, being liable to fluctuation, have not been taken into consideration. The first column gives the figures at which tho sales were made:— AUCKLAND EXCHANGE. Return on Sale Price. Investment. A' 8 d X s d Bank of N.Z 2 3 3 G 12 7 WELLINGTON EXCHANGE. Ivaiapoi Woollen ..0 6 0 DOMINIONS' FKUIT. LONDON MARKET REVIEW. AMERICAN COMPETITION. (Received April 17, 5.5 p.m.) LONDON, April IG. The Australian and New Zealand fruit season has opened in London under somewhat unfavourable conditions. Prices cannot be regarded as satisfactory. The main reason is the competition of American apples, for the market is flooded with Hood River and Oregon Newtowns arid Washington Wincsaps in excellent condition. These are selling very cheaply. Unfortunately, too, the quality of Tasmanian and Victorian apples is not so good as it ought to be. Many are immature and some varieties are showing considerable pit. The quality of Western Australian, South Australian and New Zealand fruit generally is excellent, but tho prices for these also are affected by the competition of Newtowns. The market for pears has been much better. They are meeting with a steadily improving demand with prices tending upwards. There is a fair quantity of South African pears here, but American supplies are exhausted. The prospects for the apple market in the near future are not regarded as good, as American supplies will be plentiful for several weeks, but importers are hopeful of an improvement later. Imports of foreign cherries, strawberries and other soft fruits are likely to lie much lighter than hitherto owing to the imposition of the duty. QUOTATIONS FOR WHEAT. LONDON AND LIVERPOOL. MARKETS IN AMERICA. (Received April 17, 5.5 p.m.) LONDON, April IG. Wheat.—For cargoes sellers yesterday raised limits 3d to 6d following overnight American advices. The market closed quiet and a turn easier owing to later Winnipeg reports and the of rain in the American winter belt. Six cargoes of Australians, totalling 50,000 tons (May and June) are reported to have been sold to China and Japan, but the prices are not known. A cargo by the Olive Bank sold in London at 27s 9d. Parcels were in poor demand at 3d up. Futures—London : June 25s Id a quarter; September, 25s 8d; December, 26s 4d. Liverpool: May, 5s a cental; Juiv, 5s 5 3-8 d; October, 5s Bd. To-day cargoes were quiet and mostly 3d to 6d lower. Parcels were in poor request at ljd to 3d decline. Futures.— London: .lune, 25s Id a quarter; September, 25s 8d; December, 26s 4d. Liverpool; May, 5s 3d a cental; July, 5s 5 5-8 d; October, 5s BJd. CHICAGO, April 13. Wheat.—May, 60J- cents a bushel; July, cents; September, 64 7-8 cents. The New York quotation for cash is 72 5-8 cents. THE CANADIAN POOLS. NO LOSS TO GOVERNMENT. (Received April 17, 5.5 p.m.) OTTAWA, April 16. The Minister of Trade and Commerce, Mr. H. H. Stevens, slated in the House of Commons to-day that the Government had incurred no financial losses from the guarantees to tho wheat pools. This applied to the guarantees to the central selling agency of tho three western pools for the crop year 1930-31 and the guarantee to the three provincial pools for the crop year 1931-32. LONDON MEAT PRICES. LAMB MARKET IMPROVES. 'lhe Bank of New Zealand has received tho • following report from its London office as at tho close of business last week:—Wethers: The demand is steady but not sufficient to stand an increase in prices. Ewes: There is a steady trade at rather better values. Lambs: The market is firm with an upward tendency. | Quotations: Wethers, light, 4cl to 4|d; heavy, to 4d. Ewes, 2id to 4d. Lambs, twos, 7d to 7Jd: eights, 6*d to 7gd; fours. to 6^d; seconds, 6£d to 7fid. DUNEDIN RABBITSKIN SALE. SEVERE DROP IN PRICES. The first rabbitskin sale in Duncdin for a considerable time was held last week, when a comparatively small offering was submitted. Tho bulk of the skins were low grades such as summers, milky and racks, with a fair proportion of winters held over from last season. Since last year conditions in the fur trade have become steadily worso and culminated in a severe drop of 20 per cent, in prices at tho London sales in March, duo chiefly to tho total absence of demand from America. At last week's sale there was a complete absence, of demand on American account, and prices for all grades of skins were 40 per cent, to 60 per cent, lower than thoso ruling at the close of last season. Low grades such as summers, milky and broken sold at from 2d -to 3jd per lb., with small at l{d and very small valueless. Good racks realised from 6d to 7d. At theso prices few skins realiso sufficiently more than tho charges to warrant sending them to auction. Fresh autumn skins sold at from 8d to lOd per lb. The following is the range of prices at the sale:—Runners to 2jjd per lb.; summers, 3id; milky, 2|d; summer broken, 3d: racks, 8.5., 2j?d; prime racks, 6d; light racks, 6jd; dawny autumns, Bjd; early autumns, 10d; summer black, 2Jd; small, ljd.' Hareskins, ljd per lb. Horsehair, 14jjd per lb. TIN IN NEW YORK. NEW YORK, April 15. Tin (standard) futures, April, are quoted at 18.27 cents a lb., compared with 17.80 cents yesterday.