COMMERCIAL

New Zealand Herald, Volume 79, Issue 24194, 9 February 1942, Page 3

COMMERCIAL

WHEAT FOR RUSSIA AUSTRALIAN NEGOTIATIONS SYDNEY, Jan. 3' The Australian Government hopes that as a result of present negotiations Russia will buy large quantities of Australian wheat. Russia needs wheat, because fighting on her wheat lands has made sowing of new crops impossible..in many areas. Originally Russia asked Britain and America to supply her with large quantities of * wheat, but .Britain, short of supplies herself, passed the Russian request on to Australia. Australia has offered to fulfil all orders as she lias large surplus stocks,_ and as a result her wheat storage position will be considerably relieved. Nevertheless, it will be necessary for Australia to reduce wheat acreage next season. This season's crop produced 160,000,000 bushels. Next season the Government aims at a production not exceeding 100,000,000 bushels. To achieve, this, acreages sown, particularly on large farms, will have to foe cut. The Minister for Commerce, Mr. Scully, said that apart from the difficulty of finding markets for the crop just harvested, it was likely that the wheat storages would be'filled at the end of the year. Special emergency arrangements would have to be made to cope with the harvest in December, 1942, and January, 1943, ________ EAST COAST WOOL ESTIMATED RETURN £1,000,000 [BY TELEGRAPH —PRESS ASSOCIATION] GISBORNE, Sunday Wool appraised in the Gisborne, Tokomaru Bav and Tolaga Bav centres this season has so far realised £7."»!1,1S1 and before the season (•loses the aggregate should not he far short of .C 1.000.000. The realisation at the January appraisal was £291,073, So far 43,575 bales have been appraised, of which 10, : 7*10 bales were entered in the January fixture, and on a tentative estimate the season should finish with approximately 50,000 hales. Gisborne contributed 13,819 bales for valuation in January, with a total value of £210,941, the average price per bale being £l7 7s 7d, while Tokomaru Bay, with 1503 bales, averaged £lB 7s a bale, and Tolaga Bay, with 141S bales, had an average of £lB 8s 9d. ESSENTIAL WORK MORE INDUSTRIES GAZETTED A further list of industrial undertakings are declared in the current Gazette to be essential in terms of the National Service Emergency Regulations. Those in Auckland and province are:— „ Abattoirs, etc. —Auckland City Council, Thames, Paeroa. Gisborne, Waihi, Whangarei, Tauranga, Rotorua, Tauinaninui, Te Aroha, Cambridge and Te Kuiti Borough Councils, and Auckland Farmers' Freezing Company, under delegation from the Hamilton Borough Council. Storage, Cooling or Freezing of Butter and Cheese.—Auckland Farmers' Freezing Company, at Auckland. Southdown and Horotin, and the Gisborne Sheepfarmers' Frozen Meat Company. Others.—'-Whakata no Paper Mills, Tsew Zealand Cutlers Company, Auckland, James Hardie and Company, Penrose, J. Edwards and Sons, Auckland, Alex Harvey and Sons, Auckland, Twigs EnprineerinK Company, Auckland, Waikato Carbonisation, Limited. Whangarei; Engineering Company, C. R. Lovatt and Sons, at Kaikohe, Bay of Islands and Maungatapere. FOREIGN EXCHANGE Closing telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres on Saturday were supplied by the Bank of New South Wales as follows: — February 7 T.T. T.T. Buying Selling New York, dol. to £.. 3.2512 3.2050 Montreal, dol. to £ .. 3.0030 3.5200 Java, fl. to £ . . . . 0.157 G.OOI India, pence to rupee .. 22 3-10 22% Ceylon, pence to rupee . 22 3-16 22% Singapore, pence to dol. 31% 35% S. Af.. £N.Z. iS.A. 100 123 125/2/6 London, £N.Z. £st. 100 121/7/6 125 Australia, £A. £N.Z. 100 100/10/- 100 Fiji, £F. £N.Z. 100 . 90 88/12/6

METAL QUOTATIONS London metal quotations on January 30 were:— Tin (Hxed prices).—Standard spot: Buyer, £259 a ton; seller, £2OO. Three months: Buyer, £202; seller, £203. Silver.—Standard, spot, is ll'/C.d an oz (unchanged); fortvard, Is 11.5% d funchanged); fine, spot, 2s l%d (unchanged); forward, 2s 1.4% d (unchanged) Platinum.—£9 an oz. Pig Iron (home trade). —£0 8s a ton. Antimony.—British, £l2O a ton. Molybdenite.—ill Ss to £2 12s (nominal) a unit. Wolfram.—£2 10s a unit. In New York standard tin was quoted at. 52 cents per lb (unchanged) on January 31. MINING YIELDS Maori Gold (West Coast). —7£'/40Z; 14,000 yards; 121 hours. Snowy River (West Coast). —1350z; 23,000 yards; 122 hours.

CALL AND DIVIDEND LIST Dividends— I?ue NZ. Insurance—l„ 1/- . . .. Feb. 11 Dalgety—F„ 4/- stg. (less U.K. tax) Feb. 11 Clinstchurch Gas—F„ 3 p.c. .. Feb. 11 N.Z. Ilefrig—oV 3 p.c. p.a. . . Feb. 14 W'wths (Byd.)—half-year, Ist pref., 5 p.c.; 2nd, 3* a p.c. .. .. Feb. 15 W'wths (W.A.)—half-yr., pf., 4 p.c. Fob. 15 N.Z. Fert.—pref., 2% p.c. . .. Feb. 15 Mt. Morgan—-pref., 4 p.c. .. .. B'eb. 10 Doin. I. and B. —1., A, 2Va p.c. .. Feb. 20 K.D.Y. Boxes—l., 3 p.c Feb. 20 Auckland Gas—F-, 2% p.c. .. E'cb 23 Bank N.S.W.—quarterly, 6/- .. Feb. 26 Southland Meat—F., 8d . . .. Mch. 1 Mt. Morgan—ord., 16th, 4d .. Mch. 7 Elect. Zinc —1., pf. and old ord., 4 p.c.; new ord., 1 p.c. .. Mch. 27 Westport-Stockton—pf., 8 p.c. p.a.; ord., 2'/a P-c. p.a. .. .. March

MORRINSVILLE STOCK Up to 10,000 breeding ewes, representing drafts from the east coast and southern districts were offered by the Farmers' Auctioneerinj? Company at Morrinsville last week. Aged ewes still appearod to be more popular than two-tooths and buyers also showed a preference for southern sheep. Yalue.s were:—Prime medium-weight fat wethers, 23s td to 23s (id; lighter, 20s Od to 22s (>d; fat hoggets, 228 6d to 235; fat ewes, 9s to lis fid; medium fat lambs. 19s 3d to 20s Od; best shorn ewe lambs, 20s 6d; forward wether lambs, 15s 2d to 15s 3d; shorn lambs, 13s 3d to 14s <>d; cull lambs, 8s 3d to 10s Id. Breeding ewes, ex .Patetonga, four and sixtooth, 27s 3d; four-year, 27s Od; two-tooth, 20s 9d. Ex Raetihi, best four-year, 22s to 235; others, IDs -Id to 19s Od. Ex King Country, four and five-year, to 21s od; five-year, 17s to 19s 7d; aged, 15s to His. Ex Waipukurau, two-tooth, 26s 3d to 20s Od; fouryear, 26s 6d; five-year. 10s to 17s. Ex Gisborne, two-tooth. 25s to 26s 4d; M.A., 21s Od to 20s (id; five-year, IGs Od to 208; sixyear, 12s to 10s Od; aged 9s Od to 12s Od; local two-tooth ewes, 22s to 20s 4d. Stud sheep: Two-tooth Southdown owes, l%gns to 3gns; four and six-tooth Southdown ewes, l%gns to 2%gns; aged Southdown ewes. 15s to l%gns; Southdown ram lambs, I'/gns to 2V z gns; Southdown ewe lambs, IVJgns to 2!4gns; stud Southdown rams, Bgns; one-shear Southdown flock rams, 2gns to 4%gns; other Southdown rams, from local vendors Ogns to 7gns; aged rams, Ign to I'/Ggns. Heavy fat bullocks, to £l2 15s; medium, £lO 17s Od to £ll 10s; heavy fat Friesian and Shorthorn cows, £8 to £8 lis; heavy Jersey cows, £7 to £8 10s; light, £5 10s to £6 ss; boners, £3 5s to £4 17s; store cows, 35s to £3; heifers, r.w.b. £5; potter bulls 20s to 30s. Choppers, 32s to £3 Is; heavy baconcrs, £4 to £4 4S; medium, £3 14s to £3 18s; light, £3 6s to £3 12s; buttermilk pigs and heavy porkers, £2 18s to £3 4s; medium porkers. €■"> 12s to £2 108; iight, £2 4s to £2 10a; unfinished, 36s to £2 2s; large stores, 28s to 33s Od; smaller, 20s to 20s Od; slips, 12s to 18s; weaners, <ls to 10s; sows to farrow, 22s (id to 32s fid; sows with litters. 20s to £2.

VALUES AT TE AWAMUTU I At Dnlgrty and Company's trl-weekly Te Awamutu sale fat lambs made 23s to 255; medium fat wethers, 22s 3d to 23s 8(1; lighter, CI to C 1 Is; fat ewes, 7s to 10s; good wether lambs, 13s 3d to 15s 7d: medium lis to 12s IHI-, smaller, Os 3d to 9s Od; good woolly lambs. 13s ftd to 16s; good ewe lambs, 13s 5d to 16s; good ewe lambs, 15s 2d to 16s Id; medium, 12s to 13s Od; others, 9s to 12s; good quality five-year ewes, 17s Id; others. L3s 9d to lfls; four-year ewes, 15s Od to 17s Od Prime fat bullocks, made £ll to £ll 15s; others, £8 10s to £9 15s; prime fat heifers, £8 17s 6d; lighter, £7 to £7 2s Od; heavy boners, £3 ,14s to £4 10s; medium, £2 15s to £3 Os; others, 30s to £2 10s; potter bulls, £1 to £1 fis. Heavy prime baconers made £3 18s to £4 4s: medium, £3 10s to £3 18s; light, £3 to £3 Os; heavy prime porkers, £2 10s to £3; medium, £2 2fl 6d to £2 10s; light, 35s to £2; heavy choppers. £2 10s to £3 ss; medium, 30s to £2; light, 18s to 30s; good stores, 28s to 355; medium, 18s to 255; others, from 12s. PUKEKOHE HORSE FAIR An improved demand for reliable young farm horses, gig horses and hacks was a feature of the horse fair held at Pukekohe by Alfred Bnckland and Sons, Limited. Of about 40 entries young, active farm horses made £27 to £32 10s; other good farm sorts, £2O to £25; light harness horses, £lO to «15; hacks and ponies, £5 5s to £l3 ss.