BUTTER MARKET FIRM

New Zealand Herald, Volume LXXIII, Issue 22475, 20 July 1936, Page 5

BUTTER MARKET FIRM

PRICES UP TO 118/WIDE RANGE OF VALUES CHEESE A SHADE EASIER The London market for New Zealand butter remains firm. In a wide rango of values, choicest salted is quoted as high as 118s per ewt., a rise of Is. Cheeso values aro slightly easier. White is selling at about 62s per cwt., a fall of approximately 6d, while coloured is bringing about 61s 6d, also a decline of 6d. Merchants have received the following cablegrams, dated July 18, from their London principals:— Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited. —Butter, 117s to 118s. Cheese: White, 62s 6(1; coloured, 61s 6d. Both markets are firm. New Zealand Producers' Co-opera-tive Marketing Association, Limited.— Butter: New Zealand, 116s to 117»; Danish, 128s. The market is firm. Cheese: White, 62s to 62s 6d; coloured, 61s to 61s 6d. The market is steady. Allen and Findlay, Limited, from Armour and Company, Limited.—Butter: New Zealand, salted, 114s to 117s; unsalted, 116s to 117s; Australian, 115s; Danish, 1275. Cheese: New Zealand, white and coloured, 61s to 625. Both markets are firm.

BUTTER IN LONDON UPWARD TENDENCY CONTINUES (Received July 19, 5.5 p.m.) LONDON, July 18 The upward tendency in butter continues. Certain holders are not hesitating to take substantial profits. Activity has extended to Continental sorts as sellers are not anxious to come on the market, except at higher prices, as Germany and America are useful buyers. Cheese also has improved, though the demand is largely speculative. LONDON MARKETS GILT-EDGED STOCKS FIRM TRADE STILL IMPROVING (Received July 19, 5.5 p.m.) LONDON, July 18 The undertone on the London stock markets is firm. Gilt-edged stocks have received renewed support, especially Australian. The volume of business in industrial shares is modest. Lloyd's shipbuilding returns are helping shares in the heavy industries. Oils are quiet and gold shares are erratic. The Financial Times says it considers that all the trade indices point to a continuous improvement. The record shipbuilding will irrigate many channels, not the least being the depressed areas. Even international trade is slowly improving. Investors, however, are not yet confident about the political atmosphere in Europe. Otherwise tho improvement would have been more general. The Government's assurance that it will not raise a defenco loan this year should strengthen gilt-edged stocks and mean that there shotdd bo no need to close the capital market to new issues, thus favouring investment enterprise in new fields. Commodities are quieter than last week. This is the natural reaction after the sharp rises since tho beginning of Juno. Wheat, however, remains the prey of weather rumours and scares. Canada is tending to replace America as the determining factor in regard to prices. Manitoba sharply marked up prices on reports of continued dryness. Australian wheat is remarkably steady. STEEL AGREEMENT INTERNATIONAL CARTEL BRITISH SHARE OF EXPORTS (Received July 19, 5.5 p.m.) LONDON, July-18 British steel makers have undertaken to remain within the international steel cartel until 1940. It is understood that the agreement secures to Britain the same proportion of total steel exports as she enjoyed in 1934. The quotas and other conditions included in the original pact are preserved unaltered. Any of the parties may terminate the agreement in August, 1938, on giving six months' notice. The question of export prices was not discussed, though it is expected that French producers, in consequence of their higher costs, will demand a revision. Tho market is pleased with the result of the negotiations, and iron and steel shares are in very active demand. ' WHOLESALE EGG' PRICES REDUCTION OF A PENNY Thero has been a reduction of Id a dozen in the wholesale prico of both hen and duck eggs. Values as announced by the Auckland Egg Marketing Committee are: —Hen, first grade, Is 5Jd a dozen; B grade, Is lid; duck, Is s}d, Is 4Jd, ' Is ljd. Country storekeepers' buying values are Is Id' a dozen for first grade hen and duck eggs. NEW COMPANIES AUCKLAND REGISTRATIONS Tho following new privato companies have been registered in Auckland: — Dominion Hosiery Mills, Limited, manufacturers and importers. Capital. £750 in 30 shares of £2o each. Subscribers; A. Turner, 12 shares; Mrs. Gertrude Lily Turner, 8; J. Wein, 5; Mrs. Doris Alston Wein, 5. Auckland Printing and Publishing Company, Limited, newspaper journal, magazine and book publishers. Capital, £6OO in £1 shares. Subscribers: D. 1?.. Walker, 599 shares; 11. W. Mander, 1. INCREASE OF CAPITAL Peters Ice Cream Company (N.Z.), Limited (Auckland).— Capital increased bv addition £IO,OOO beyond registered capital of £15,000. REDUCTION OF CAPITAL Browne (E. C.) and Company, Limited (Auckland).— Capital reduced from 20,000 shares of £1 each to 20,000 shares of 10s each. LIVERPOOL WHEAT PRICES (Received July 19, 5.5 p.m.) LONDON, July IS Wheat. —Liverpool futures: October, 6s 8 7-1 Gd a cental; December 6s 7j|d; March, 6s 5 5-lGd.