GROWING CONFIDENCE

New Zealand Herald, Volume LXX, Issue 21647, 13 November 1933, Page 7

GROWING CONFIDENCE

LONDON STOCK EXCHANGE STEADINESS OF MARKETS TAX RELIEF ANTICIPATED (Received November 'l2, 5.5 p.m.) LONDON, Nov. 11 Tho London Stock Exchange continues steady, especially tho gilt-edged and industrial sections, for which the growing confidence in the domestic situation which is arising, the improvement in trade and the decrease in unemployment are largely responsible. The favourable statement by the Chancellor of the Exchequer regarding the financial position also bad a good etlect on the Stock Exchange, which regarded it as an indication of the possibility of sixpence being taken oil' the income tax. Dominion stocks are maintaining the strong position they attained recently, but Indian loans have declined slightly. Subscribers to this week's .Indian issue received about 50 per cent of their a]>plieations, but, unlike the recent large issues, dealings in tho loan opened at about five-eighths discount. The news of sio closing of Kbyber Pass and the possibility of trouble in Afghanistan has caused some uncertainty. MEAT IN LONDON FROZEN AND CHILLED SMITHFIELD QUOTATIONS (Received November 12, 5.5 p.m.) LONDON, Nov. 11 Following are the latest quotations I for frozen and chilled meat with those j of the previous week for comparison: FROZEN MUTTON Nov. 4 Nov. 11

First large, ex store 17/6 to 18/- 17/ to 17/0 The weekly quotations are based on actual sales of wholesale quantities of carcases of mutton or lamb or of quarters of beef delivered to Smithfield market and/or London stores. They are compiled by the Quotations Committee, Smithfield. To arrive at the equivalent ex ship values one farthing per pound should be deducted from the prices quoted above." Quotations given represent the average for the week, and are not selected lines, but for parcels fairly representative of the bulk of shipments now. on offer. WEAKER LAMB MARKET HOME-KILLED MEAT PLENTIFUL The Bank of New Zealand has received the following advice from its London officio as at the close of business last week: —Wethers: The market is steady. Ewes: The market is fairly well supplied; moderate business has been done. Lambs: Weaker values are | ruling owing to lack of demand. The I market is affected by heavy supplies | of home-killed meat. Quotations: Wethers, light, 4d to old per lb.; heavy, .lid to .'S'd; ewes, i!d to .'?:[d; lambs, twos, 7.', dto 7»d; eights, OJd to 7Jd; fours, (id to G.' t d; seconds, (3»• I | to (J Id. The New Zealand Meat Producers' j Board has received the following | cablegram from its London office, dated November 10:—Lamb: Prices easier with trade slow owing to plentiful supplies home-killed; and in view ot early arrivals of new season's lamb, buyers operating from hand to mouth For the small stocks of old season's lamb remaining. Mutton: Wethers and ewes are both steady, with fair trade. Beef: Demand affected by lower prices of Argentine chilled beef. New i Zealand porkers: Market firm and good demand. New Zealand baconers: Are still nominal. \ AUSTRALIAN TRADE BELGIUM'S EMBARGO LONDON, Nov. 10 Apparently the Belgian embargo on Australian meat will not operate pending -Mr. S. M. Bruco's negotiations, for the Swift Company has just secured a licence to export 210 tons of Australian meat to Belgium. If is understood that the chief reason for Belgium being able to he independent, if necessary, of Australian meat., is that large and cheap supplies of Dutch and Danish beef are available. This is the result of the reduction of British and other nations' imports of Danish and Dutch butter under the embargoes and quotas. In consequence,' Holland and Denmark had to slaughter many cattle, and offered large supplies of cheap cow beef to the Belgian War Oflice. NEW BRITISF! VESSEL LONDON, Nov. 10 The Shaw, Savill and Albion Lino intends to order a third L'l,o()0-ton motor-ship, with a speed of from 1(5 to 17 knots, fitted for chilled beef cargo. I

; New Zealand — d d | W'elhcis and Maiden Ewes: 1 • ('«i 111 c rl >n ry and North Island selected: 1 4s-jGll>. 4", 4 : 'i 67-0411) 4% . i l / t <;r.-72ll> :!/„ 3% North Island: •IfvoOlb. . . , . . a 4 5 H 4% 67-G4lh. 4% 4'« Gij-72lb. v. .. Ewes: 3'4 :\'/t U 11 ci <' r '131b. a a a V . . 3 n i il'i 4S-G|1I). .. a. 3 j H 05-72th. 3i-; 3% Australian — Wet hers : First, 40-061H. 3 7 -;, 4V 4 •S •coiul, 30-S51I). 3' j 3' j Ewes, 30-551b. . . . . 3' 2 3' 'j Argentine— Wet hers: Fjl'flt:, 4 8 0411). . . . . 4% 4'H First, .0>5-72lb. 3/4 3 1 j 1 'a ta gonian— Wethers or Maiden Ewca: Under 5011) 4"i ■V, 50-G0lb. 3' :i T „ Ewes, -10-SOlb. 3' U 3' j | FROZEN LAMBS Canterbury : 3<>lb. and under .. 7/ « ' " % 37-1211). IV, 7' a 43-5011). G"'„ Second, about 30lb. a . 7 G'\ Other South Island 3Glb. and under .. 7 3 j ' 37-4211) 7 1 i 7'H •t;i-50lb. G'?'o 0'/H North Island, selected: Still), and under 7 r, 4 7% 37-4211) 7 ! 4 7 % 43-5011) 0/n G V n Second, about. 30lb. 7 (/'i North Island, other: First. 3011). and under .. 7 3 / 7 3/ First, 37-1211). 7 7 Second, about 30lb. 0?4 t-4 Australian— ! Victorian : Second, 3Glb. and under . C Ye O'/a Other States: First, 301b. and under . . ry ""'4 First, 37-4211). 7 * 7 Second, 3Glb. and under , cy t c/„ All States: Third, about 2Glb. . , 6% G'H Arft"nt i lieFirst, 3iilb. and under . 7 7 First, 37-4-211) 0' 3 0", Second, about 30lb. t' :, 4 G',4 FROZEN OX BEEF New Zealand — Fores. ]00-220lb 2' 2 2 1 j Hinds, lC0-22l)lb ■Tn 3'n Aust ralian— Props. 7001b. or.d tinder -"'i Over lOOlb OT n)' Hinds. 1001b. and under . 3' n 3'1 Over 1 COl b 3'/i CIULLED OX BE EF A rgentine— 3Vi Fores 100-22011). . . 3*n Ilinds, l('0-220lb. . 5/H FROZEN PORK New Zealand — j First, G0-80lb G^ C.V, First, 8t-10nlb 0 0 First, 101-12011) O'/a 5% Australian— o l/ , First, 00-10011) r 3 ; First. 101-120lb 5% 5'/j RABBITS