BUTTER MARKET FIRM

New Zealand Herald, Volume LXXI, Issue 21991, 24 December 1934, Page 5

BUTTER MARKET FIRM

FURTHER RISE IN PRICES NEW ZEALAND REACHES 72s IMPROVEMENT IN CHEESE Prices for New Zealand butter in the London market range from 69s to 72s per cwt., an advance of Is. There is a better tono in the market, which is firmer.

The cheese market also shows improvement, white and coloured cheese being quoted up to 45s per cwt., a rise of Is. Merchants have received the following cablegrams, dated December 21, from their, London principals: A. H. Turn bull and Company. Limited, from W. Weddel and Company. Limited. —Butter: Danish, 1225; New Zealand, salted, 71s; Australian, 71s. Cheese: White, 455; coloured, 455. Allen and Findlay, Limited, from Armour and Company, Limited. —Butter: The market is firm. Now Zealand, salted, 69s to 71s; unsalted, 72s to 74.1: Australian, 68s to 70s; Danish, 120s. Cheese: The market is steady. New Zealand, white, 43s to 445; coloured, 4;t<; to 445; Canadian, 545. Now Zealand Producers' Co-operative Marketing Association, Limited. Butter: The market is firmer. New Zoaland, 69s to 725; Danish, 120s. Cheeso: The market is improved. Whit©, 43s to 455; coloured, 43a to 445.

PRICES OF METALS COPPER FIRMER AGAIN (Received December 23, 5.5 p.m.) LONDON. Dec. 22 Following were yesterday's quotations on the London metal market, compared with those of December 20:— Doc. 21 Dec. 20

JAPANESE TRADE YEAR'S RECORD FIGURES TOKIO. Dec. 21 With imports worth £217,700,000 and exports £208,100,000, 1934 was the greatest year in the record of Japanese trade. GOLD AND SILVER QUOTATIONS IN LONDON (Received December 23. 5.5 p.m.) LONDON. Dec. 22 Fine gold is quoted to-day at £7 0s BJd an oz., compared with £7 Os lid yesterday and £7 Os BJd on Thursday. Silver was quoted yesterday at 23 13-16 d an oz. spot and 23 15-16 d forward, compared with 24 3-16 d and 24 5-16 d on Thursday. The quotation for silver at per fine oz. yesterday was 25 11-16 d, compared with 26 l-8d on Thursday.

SOUTH AFRICAN BUTTER EXPORTATION PROPOSALS CAPETOWN. Dec. 21 The South African Dairy Control Board is about to authorise the exportation of 1,000,0001b. of butter in addition to a similar amount remaining over from last year's quota, thereby ensuring a retail price of Is 6d. The National Council of Women says the surplus could be consumed on the home market if the price were reduced. This, they say, would enable children to have a proper dietary. Consequently they are advocating the abolition of the board.

MARKET FOR HIDES EUROPEAN DEMAND SLOW Reporting 011 the world market for hides, as at November 15, W. Weddel and Company, Limited, London, states that European demand is particularly slow, with Germany buying practically nothing and other countries inclined to be cautious. The market under the surface is reasonably secure, but buying must continue on a larger scale if values are to be kept steady. Leather markets are rather slow. There is a very good demand for the better selections, which remain firm. Any attempts to get higher prices for most other grades of leather have not met with much success.

E. S. AND A. BANK

PAST YEAR'S ACCOUNTS The accounts of the English, Scottish and Australian Bank, Limited, for the year ended June 00, reveal an increase in total deposits and a smaller rise in advances. As stated in the Hkrald on November 10, the net profit for the year was £2238 higher at £221,565, and the dividend was maintained at 5 per cent. The gross profit was lower by £(5712 at £1,000,763, but there was a reduction of £27,850 in taxation. The balance-sheet total is £42,439,355. against £39,020,572. Deposits total £32,031,348, compared with £28.946,768 and comprise deposits at interest (including Government balances'), £20,13],519 (£18,740,003) and current accounts, £11,899,829 (£] 0,206,765). After deducting provision for bad and doubtful debts and contingencies reserve, advances are stated at £26,217,746, compared with £24,983,768 in the previous year. Tho proportion of advances to total deposits is 81.8 per cent, against 85.5 per cent in the previous year, and 84.3 per cent in 1932.

CALL AND DIVIDEND LIST Dividends— > Due Komata Reefs—int., 3d *. share Dec. 28 Morris Bedstrom—int., ord., 2 p.c. Dec. 31 British Tobacco— ovd., quarterly, 1J p.c Deo. 31 Nat. Bank N.Z.— int., 2 p.c. . . Jan. 5 Bulolo— int., 90 cents . . . . Jon. 10 riacer Development—int., 1 dollar 20 cents Jan. 10 Mt. Morgan—fid a. share Jan. 10 A.P.A.—2i P.c Feb. 6

Per ton Per ton £ s <1 £ a d Copper, stan., spot .. 28 6 10} 27 18 1} Copper, stan.. 3 mog. 29 15 74 28 B 10} •Copper, electrolytio 31 10 0 to 31 5 0 to 32 0 0 31 15 0 Copper, elect., wire bars 32 0 0 31 15 0 Lend, soft, spot 10 8 9 10 5 0 10 8 9 Lead, soft, forward .. 10 8 9 Spelter, spot 11 13 9 11 12 6 11 18 n Spelter, forward 12 1 3 Tin, Btan., spot 227 13 9 227 17 6 Tin, stan., 3 mos. .. 228 6 3 22S 6 3 'American 9 cents a lb. Quotations for other metals, with Inst week's prices in parentheses, nre:—Pie iron: Home trade, £3 7s 6d (£3 7s 6d); export, £3 2s 6d (£H 2s fitU. Antimony: British, £<4 10s (i-b/ 10s): foreicn, £57 (£58 15s) . Molybclenite: £1 14s 6d (£1 14s 6d) a unit. Wolfram: £1 18s 6d (£2) a unit.