PRICE OF TIN RISES

New Zealand Herald, Volume LXXII, Issue 22241, 16 October 1935, Page 9

PRICE OF TIN RISES

HIGHEST FOR SEVEN HEARS METAL MARKET IMPROVEMENT ADVANCE IN RECENT WEEKS (Received October 15, 7.35 p.m.) LONDON, Oct. 14 Following are to-day's quotations on the London metal market, compared with thoso of October 11: — Per ton Per ton £bd £ s d Copper, stan,, spot. . 35 10 0 36 3 1} Copper, stan., 3 mos. 35 17 S 36 11 101 Copper, electrolytic .. 40 0 0 40 10 0 to to 41 0 0 41 10 0 Copper, elect., wire bars 41 0 0 41 10 0 Lend, soft, spot . . 18 18 9 19 10 0 Lead, soft, forward . . 18 18 9 19 10 0 Spelter, epot . . . . 16 11 3 17 2 6 Spelter, forward .. 16 17 6 17 8 9 Tin, stan., spot .. 243 0 0 to 240 0 0 243 0 0 Tin, stan., 3 mos. . . 224 15 0 227 15 0 The spot price for tin, £2-48 a ton, is the highest since 1928. The rise is indicative of the acute shortage. Prices for bnso metals have advanced sharply in recent weeks, due to the outbreak of war in Abyssinia and to the fear of hostilities spreading. It remains to be seen what effect sanctions will have upon the market. Prior to the current rise the base metals market showed a gradual improvement as the iesulfc of revival in industrial activity. A comparison of prices a ton for the past three months and at this time last year is as follows: — Oct. Sept. Aug. Oct. 1935 1935 1935 1934 , £ £ £ £ Copper . . 35Va' 33V, 32 26 1 /, Lead ..19 16 15 5 /, 10 1 /, Spelter .. 16'/, 15% 14 l / 4 12V 4 Tin .. .. 245'/, 222 219% 232 In 1930, tin was selling at £ll4 a ton, less than half the current price. BUTTER-FAT CHEQUES INCREASED PAYMENTS CAMBRIDGE ADVANCE AT 1/[from OUR OWN correspondent] CAMBRIDGE, Tuesday The substantial rise in the price of butter on the London market is reflected in the pay-out of the Cambridge Co-operative Dairy Company, Limited, for the month of September. Although output was reduced slightly, owing to the backward spring and a consequent shortage of feed, suppliers will snare in a disbursement which is £4300 in advance of the pay-out for September, 1934. The company will advance £19,670 at the rate of Is per lb. for butterfat supplied for both cheese and butter manufacture. The pay-out for the month is £19,670, compared with £15,370 for September, 1934. The season's total to date is £40,636, compared with £31,190 over the same period of last year. ARIA DISTRIBUTION FURTHER BONUS OF ID PER LB. [by TELEGRAPH —OWN correspondent! TE KUITI, Tuesday The directors of the Aria Dairy Company, Limited, have decided to make the following advances for September butter-fat at the farm gate: —Finest, lid per lb.; first grade, 10id; second grade, 9Jd. Final realisations for last season's butter have been received, and the directors have decided to pay a further bonus of Id per lb. on all butterfat supplied during February. March, April and May. NORTHERN WAIROA COMPANY FINAL FOR LAST SEASON ! [by telegraph OWN correspondent] DARGAVILLE, Tuesday Realisations upon butter shipped by the Northern Wairoa Co-operative Dairy Company, Limited, during the 1934-35 season have enabled the company to distribute a further £BBOO, representing 0.332 d per lb. butter-fat upon the supply for the whole season. The additional payment raises the total payment per lb. of butter-fat for the season to 9.3263 d over all grades. In spite of more favourable weather this month, butter-fat production and the output of butter for the period ended October 10 showed a decided drop on tho same period of last season. MORRINSVILLE DISBURSEMENT INCREASE OF FOURPENCE [from our own correspondent] HAMILTON, Tuesday The Morrinsville Co-operative Dairy Company, Limited, will advance its suppliers Hid per lb. butter-fat on cream supplied for butter-making during September, and will distribute £26,000. The advance for September supply last year was 7sd. The supply during August of this year showed an increase of 15 per cent over the supply for August, 1934, while for September there was a drop of five per cent compared with the supply for September, 1934. With an improvement in climatic conditions this month there should be a marked increase in production. ADVANCE IN HIDES BETTER OVERSEAS DEMAND TALLOW PRICES RISE The improvement in commodity markets overseas was reflected in prices for hides and skins nt the fortnightly sale held by Auckland brokers yesterday. Most grades of hides showed an advance, in some cases of almost Id per lb. Sheepskins were a shade firmer, while tallow rose in price by 2s to 2s 6d per cwt. There was a full bench of buyers, with exporters and local tanners operating freely. Prices for beat grades were:— Hides. Ox (abattoirs), heavy GJd per lb.; medium, G}d; ligrht, Cld to Gsd; (country butchers), heavy, ajd to 6rt; medium and light, s}d to 5Jd; cow (abattoirs), heavy, 6}d to 6jd: hfi"t an . f * medium. 6)d to 6Jd; (country butchers), heavy, 42d: light and medium. 5d to aid: formers (nil weights). 3}d to 4id; yearlings (abattoirs), heavy. 5Jd to 5Jd; light and medium, 6ld to 8d: seconds, 4}d to t GJd; calfskins, 3lb. 1o 51d., 9ld to 9ld; Gib. to Blb., lOd to mid; seconds and cut. 8d to 81d; slippy, 6d to Gjd. , . Dry Sheepskins.—Three-quarter to fullwool, medium to fine crossbred, 7jd to 8d: coarse crossbred, GJd to 73d; damaged and faulty, 4]d to GJd; half-wools, medium to fino crossbred. 7d. to 7Jd: coarse crossbred, GJd to 7d; damaged and faulty, 3d to 4|d; bare to quarter-wools, sound, 3}d to 4Jd; damaged and faulty, 3d to 3Jd. - Salted Sheepskins.—Quarter-wools, sound. 2a Gd to 2s 10a each; faulty, Is 8d to Is lOd; three-quarter to full-wool, large, 5s id to 5s lOd; medium, 3s 9d to 4s 7d; faulty, 3s to 3s Bd. Tallow.—Good quality. 26s to 27s per cwt.: second grade. 24» to 255: third grade and inferior, 20s to 21s Gd.

QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL LONDON, Oct. 14 Wheat. —Cargoes are lower and parcels are easier. Futures. —London: February, 26s lid a quarter; April, 275. Liverpool: October 6s Bjd a cental; December, 6s 4fd; March, 6s l|d.,