COMMERCE AND MINING

New Zealand Times, Volume XLVI, Issue 10597, 24 May 1920, Page 10

COMMERCE AND MINING

WELLINGTON STOCK EXCHANGE, YESTERDAY'S QUOTATIONS.

QUOTATIONS ELSEWHERE. TEB PRESS ASSOCIATION. DUNEDIN, May 22, Sales on ’Change : —National Insurance, 73s Cd; Huddart-Parker, 55s 6d; Goldsbrough Moit, 50s 3d (three sales); Dominion Rubber, 11s 3d and 11s. LONDON QUOTATIONS. Australian and N.Z. Cable Association(Deceived Mav 23. 5.5 p.m.) LONDON. May 20. Waihi Grand Junction, buyers 10s Id, oilers 10» -Id; D and 0. (deferred) stock, rmyers X!&). sellers .E-tSO. COMMERCIAL CABLES SUBSTANTIAL DECLINE IN FURS Australian and N.Z. Cable Association. (Received Mav 23, 5-5 p.m.) NEW YORK. May; 21. At the fur auction, sales show prices of fars arc 25 to 30 per cent, lower than spring sales. There is a general tightening or the markets with an attendant fall in prices. A number of small dealers throughout tho country failed, while others wars saved after receiving aid from the American Unr Dealers" Association. The policies of the banks in restricting credits is hold responsible. AUSTRALIAN WOOL. (Received May 23. 5.5 p.m.) NEW YORK. May 21. Australian, wool, being auctioned under the British Government auspices, suffered aloto 20 per cent, fall in prices. Of 15.569 bales offered, mostly merinos and other fine grades, only 5500 bales were sold Spinners’ 70’s and shafty fleeces brought 93 tor 99 cents per pound. Similar grades were bringing 108 to 125 cents three weeks ago. The remaining 13.069 bales will be offered to-day, and will be offered for private sale if unsold. Buyers agree that the peak of high prices of wools has passed. The present move to dispose of Government stocks is considered a move to restore the pound sterling on the foreign exchange market.

CHICAGO VISIBLE WHEAT SUPPLY.

(Received May 23, 5.5 p.m.) CHICAGO. rMay 21. The visible wheat supply is 41,478,000 bushels.

FOREIGN EXCHANGE RATES. • (Received Mav 23, 5.5 p.m.), LONDON May 20. Foreign exchange rates on London are quoted as follows Paris, 13.70 francs to £1; Stockholm. 13.23 kroner; Christiania. 21.03 kroner; Calcutta. 26W to the rupee; Montreal, 12.5 dollars to '£l; New Fork, S.Sl| dollars. THE MONEY MARKET. (■Received May 23. 3.3 p.m.) LONDON May 20 Short loans are quoted at 51 per cent, and throe months’ bills at Cl per cent.BRADFORD WOOL MARKET. (Received May 23. 5.5 p.m.) LONDON May 20. The Bradford market is unchanged. There is not enough business to test the market. ENGLISH, PRODUCE MARKET. (Received May 23, 5.3 p.m.) LONDON May 20. Wheat, fair quantity of Australian cargo on passage sold at 90s. Beans and peas, quiet and steady. Sugar, granulated, 112 s, ANTWERP WOOL SALES. (Received Mav 23, midnight.) ANTWERP. May 21. At the wool sales 125,000 colonial bales wore offered and’oOCt) withdrawn. Prices were 10 to 15 per cent 1 , below tin Antwerp auction on April 23rd. PRICES OF METALS. The latest quotations for industrial metals show that tho decline in prices, to which attention was drawn a month ago. still continues. On May 6th, lead fell to A 37 15s. hut tho quotation, ot Mav 17th was AlO ss. With this exception, all prices have brim fading during the past month. The following table shows tho highest quotations since tho beginning of this year, last week s prices, anil the latest figures:— Highest. Last week. Latest. .2 s. d. .2 s. d. £ s, d. Cooper ... 123 2 C 101 12 6 ’ 98 7 6 Lcatl 52 10 0 37 15 0 40 0 0 Suellcr ... 62 0 0 4o 5 0 45 0 0 'Jin .... 418 15 0 30-1 5 0 287 10 0 Silver ... 0 ? 6J 0 5 1\ 0 • 10J NORTHERN STEAMSHIP COMPANY. DIVIDEND OF 7 PER CENT. . The thirty-ninth annual report of tho Northern Steamship Company, to be presented. to the annual meeting of shareholders on Wednesday, states that the net profit on the working account for the year ended March 31st, after making provision for insurance, depreciation, and toiler and repair accounts, was AT1,910, making, with tho balance brought forward on April Ist, 1919, a total of A14,£lO. Tho payment of a dividend of V per cent., half of which was poid to ■shareholders in November, is recommended, - the total amount for tho year being A 11,298. Tbo balance to be carried to tbo credit of tho profit and loss account is 5:3342. Tho .retiring directors nro Messrs 51. A. Clark, N, A. Nathan, end O. T. Niccol, who offer themselves for re-election.

STOCK SALES. ! N.Z. loan and Mercantile Agency Co.. Ltd., Dannevirko, report the following sales for the past week;— . At Woodville on Monday, 17th inst, we had a moderate entry of cattle, most of which wore disposed of since, Vendors were prepared to meet the market. We quote;—Dairy heifers to .£l4, store cows £5, 18-month steers £3 18s, fat cows £9 ss. At Dannevirko on Friday. 21st inst., wo had a (rood entry of sheep and a moderate entry of cattle, all of which were disposed of under the hammer although prices were distinctly helow ruling -ates of the previous week. Wo quote; Tcvmbs from 18s to 15s 4d, Inmhs (rac•linin) 11s. need ewes 18s, forward ewes °fis. mixed 2-tooth 24s f>d. store cows from £8 to .fS 'los,‘ 18-month steers £2 10s, weaners 18s. TALLOW SALES. Messrs Dalgety and Co., Ltd., have received the following cablegram from their London office under date of 19th instant: —"At the auction sales 1895 caeks tallow wore offered and 1530 sold. Prime beef and mutton arc unchanged, good colour mixed sold for 85s. Average price of inferior descriptions is 2s higher."-

Buyers. Sellers. a s. d. .6 i. Alining-— Woihi -■ 3 i 0 Inscribed Stuck 0033/... 96 0 0 — •Inscribed Stock tltiiii!)... 96 0 u 96 5 0 War Bonds (1939.) ...... — 96 2 6 a p.e. P.O. Bonds (1929 and 1927) 93 5 0 — 5 p.e. Inscribed Stuck (1929 and 1927) 9S 5 0 —- fik Australasia {fractions) National Bank — 7 0 0 I!k. X.Z. told) 23 15 0 — Uk. N.Z. (new) 21 0 0 21 7 6 Abraliaiu and Williams 5 10 0 — Goldsbrough Mort. — 2 10 3 Deposit anil Mortgage 0 9 0 0 10 0 5th, Brit. Insurance... — 10 4 0 K.Z. I’efrigemliug ilOs paid) — 1 7 6 Wu. Meat Export. (-£5> — 7 2 6 Wn. Meat Expt. («C3 Ms Gd pel.) 5 0 0 Iluddart-Parkor lord.) 2 15 6 3 16 0 Kaiapoi Woollen. <ord.) * — 10 2 6 Waipa Coal — 0 17 6 Lovland-OMJrien 1 11 6 — C. M. Banks {pref.) ... — 1 1 0 EsrUeaUdo and Stains (pref.) N.Z. Paper Mill 1 0 3 •1 18 0 Wairarnoa Farmers’ (pref.) 1 0 0 —* Ward and Co — 1 4 9 Wilson’s Om-?nt — 0 16 3 Dominion llubber 2 0 0 *Cum div.