VALUES ON STOCK EXCHANGE

New Zealand Herald, Volume LXXIV, Issue 22916, 20 December 1937, Page 7

VALUES ON STOCK EXCHANGE

AUCKLAND RATES SATURDAY FORMER LEVELS COMPARED

BUSINESS ACTIVITY

OCTOBER STATISTICS SATISFACTORY SHOWING CHEQUE TRANSACTIONS RISE While statistical indicators which are particularly prone to seasonal influences show reduced figures in October, other figures inako a very satisfactory showing for an off-season month. Business activity in the Dominion normally reaches a low level in October, states the latest Abstract of Statistics. Although the farm production season is under way by the end of October, it is not until well into November that the new season's produce begins to move in quantity, while stocks of old season's produce are usually cleared by this time ot the year. Consequently tiie movement of goods is slack, a factor which is reflected in a continuation of the fall in export trade, and in a relatively low volume of goods traffic handled by the railways. Statistics of bank debits indicate a material increase in the volume of cheque transactions in.October, as compared with September, while the active bank-note circulation also increased, the average circulation in October representing the highest monthly average on record since statistics first became available in April, 1928. Trade statistics indicate a further falling off in exports during October, the value declining from £3,901,674 in September to £2,903,435, the lowest 1 figure recorded during the current ! calendar year. All the main exports i showed substantial decreases in quani tity as compared with September. The value of imports also showed a I fall from £5,402,535 in September to £4,623,401 in October. The fall in exports was slightly greater than in im- | ports, with the result that the excess i of imports over exports oil external i trading in commodities increased from | £1,500,861 in September to £1,719,966 j in October. During each of the past : four months an excess of imports has been recorded, the cumulative excess over the tour months amounting to £4,790,543. An excess of imports is norm il at this time of the year with the falling off in the volume ol exports. Exports for the 10 months ended October 31 were valued at £58,187,404, and imports at £46,604,991, an e.Ncess of exports amounting to £11,582,413. Corresponding figures for the first 10 months of last year were as follows: —Exports, £48,608,907; imports, £35,880,718; excess of exports, £12,728,189. SHIPPING CO-OPERATION MINIMUM FREIGHT SCHEMES (Received December 10, 7.5 p.m.) LONDON, Dec. 18 The International Shipping Committee has unanimously approved continued co-operation, including adher-i ence to the minimum freight schemes. The representatives have agreed to recommend their respective national I associations to make co-operation effeetivei, CANTERBURY PRODUCE [by TEI/KGRAPU —PtIKSS association] CHRISTCHURCH, Sat u relay With the approach of the holidays the grain and produce market is^ attracting practically no interest. The market fot* chaff, which had improved sharply as a result of the dry weather, lias eased, due to the rains that have fallen in North Otago, from which quarter the recent demand was strongest. Yesterday's quotation was £4 15s on trucks. At the prices quoted there j is not much business doing. There has been a little business in potatoes at j £5 5s to £5 7s fid, f.0.b., s.i.. a ton. I The effect of the present rain on small j seed crops is occasioning some concern, | but with an improvement in the i weather prospects are generally re- i garded as satisfactory. |

DUNEDIN WOOL 1 SALE

REDUCTION IN OFFERING NOW UNDER 25,000 BALES BIG PROPORTION OF HALFBRED [by telegraph OWN correspondent] DUNEDIN. Sunday The first Dunedin wool sale of the 1937-38 season will be held on Tuesday, when an offering estimated to be under 25,000 bales, will be auctioned. The allocation was 28,000 bales, but Otago farmers are apparently not prepared to meet the market at values that havo ruled up to the present. Otago's wools are of a superior type —the best-on offer in the Dominion—and a good sale is anticipated. The sheep came through a severe winter into a mild spring, and the wool is in lighter condition than usual. Although feed has not been as prolific this season the wool shows no indications of the starving of the sheep, which have shorn from lib. to 141b. lighter. The wool is described as being well grown and of excellent quality, likely to please buyers. The catalogues contain an unusually big proportion of halfbred wools, this being accounted " for by some of the back country stations having shorn earlier than usual. An excellent spell of weather has allowed shearing to proceed without interruption and the allocation for the first sale could have been more than filled had ruling prices appealed more to the farmers. £250,000 TOR GROWERS FIRST HAWKE'S BAY SALE [by TEI.EGRAPH —OWN correspondent] NAPIER, Sunday. Woolgrowers in Hawke's Bay will receive approximately £250,000 as a result of the first wool sale of the season held a fortnight ago. Of the total ottering of just under 20,000 bales, over 90 per cent was sold at prices averaging f'vom 9id to 9|d a lb., which should work out at £l3 5s to £l3 10s a bale. Apparently growers are prepared to accept the market at recent rates, because it is understood that the allocation of 3000 bales for the January sale is already catalogued, and brokers are taking February bookings. None of the wool catalogued for next month's auction is held over from the first sale and fresh wool is pouring into the Napier stores rapidly. .Shearing; was temporarily held up on account of recent heavy rain, but before that, however, work had proceeded apace, and the stores are at present holding a considerably greater quantity than will be offered in January. Further inclusions in the January catalogue are still being sought, but are now probably dependent upon withdrawals. LIVELINESS IN LONDON MORE INQUIRY FOR TOPS (Received December If), 7.5 p.m.) LONDON, Dec. 18 The question whether wool has touched bottom seems to be decisively answered. Most traders are surprised at the liveliness of the recovery. More inquiry for tops? has been received from spinners and manufacturers, but at present they are reluctant to follow the upward trend. LIVERPOOL WHEAT ' (Received December in, r>.r» p.m.) LONDON, Dec. 18 Wheat. —Liverpool: Futures, March, 7s OJd to 7s 6|d a cental; July, 7s 6 5-10 d. WHOLESALE EGG PRICES The Auckland Egg Marketing Committee announce that wholesale egg prices arc unchanged as follows:—Hen : First grade, Is 6Jd a dozen; B grade, Is Md; C grade. Is Old. Duck: First grade, Is s}d; B grade, Is 4.} d; G grade. Is OJd. Country storekeepers' minimum buying prices for first grade eggs are: Hen, Is 2d a dozen; duck, Is Id.

B'l IbmBill| IRiEyKO E2!7uZI!iOS3 pwSRTTBBBBBBB^RIj1^8*e*8^^1E^B^ifl^8ij^Bi^EI^SS6fi8^fce^^y |iBi3lllililllBBnBBBBI^PiMilBBBI^^M[w31itt^aBI^BBII FMwWl »E$w Kfl BuB Heem KBlm|K^^M iBiBp'Wi f vm kkmi ElijiLiMlM IM^IPQSSSwI^Pc^k] BES||^m|^^^hhEB