COMMERCE AND MINING

New Zealand Times, Volume XLIX, Issue 11248, 28 June 1922, Page 10

COMMERCE AND MINING

THE STOCK EXCHANCE LITTLE MOVEMENT IN MARKET. ONE salt: RETORTED. YorAonlay** calls on ’Change found little iiiuvi'iiioiu in the market. Buyers oi inscribed Stock (l!K>8» aml Inscribed Stock ri 4 j:>9. neve prepared to pav Jtf)3 Pis, and Inscribed Stock i1933> loiuained at At>7 IA-. luuiks brightened up a little, buyers being prepared to pay Is more than on Monday's call for Australasians and 3d more for Now Zealands. Xationals remained at A\'» I(>> 6d. Sellers were asking 2 s fid more tlian on Monday’s call for Australasians, and Is <3d more for Nationals .now issue!. Unions remained at JB3. but sellers were asking a slight increase in the price of New Zealand.**, Inscribed Stock (1938', 0 per cent. Inscribed Stock .193 D. and War Ronds (1939) wore obtainable at recent rates. One iwle was reported - Loan and Mercantile (preference), at J 267. WELLINGTON EXCHANGE. TUESDAY’S QUOTATIONS. p.ui. Call.) Buyers Sellers. J! s. d. X s. d. MiningVYaihi 16 0 17 3 Inscribed”’Stock (1939)93 10 0 Inscribed Stock (1935) 93 10 0 94 0 0 Inscribed Stock (1933) 97 15 0 6 p.c. Ins. Stock (1931) War Bonds (1939) Australasia 12 16 0 13 2 6 National 516 6 _ National mew i>sue) ... New Zealand 211 3 211 9 Union financial National Mortgaso London. +3 12 6 N.Z. Loan and Mercan- » tile (ord.) N.Z. and K. Plate 0 19 0 Christchurch ® 1® "0 Wellington (ord.) 8 16 3 —‘ Wellington Debenture Stock 104 0 0 - Meat Freezing— N.Z. Refrigerating (ill) 16 3 Transport— Huddart-Parker (ord.) —2 7 1* Huddart-Parker (pref.) 018 9 N.Z. Shipping (prof.' ... 10 0 h Union Steam (pref.l ... 0 18 10 Woollen Kainpoi (ord.) 16 0 Coal— Westport 19 9 Waipa 0 15 3 “• Timber — Taringarautu 16 0 Miscellaneous—- " Wilson's Cement 0 16 10 fCum dir. Morning Call: —Reported sale: Loan entr Mercantile (pref.), .£67. SALES IN OTHER CENTRES. PER PRESS A SSOCT ATT OJ?. CHRISTCHURCH, June 27. oales reported.—Union Bank, JBI2 183, Mason Struthers (14s pd ), 15s. AUCKLAND, June 27. Sales.—South British Insurance, 38s 6d; Wilson’s Cement, 16s lOd. WAIHI GRAND JUNCTION. Australian and N.Z. Cable Association. (Received June 27, 8.53 p.m.) LONDON, June 26. Woihi Junction shares are quoted at 6s 3d. ...MOUNT LYELL MINING CO. OPERATIONS IN HAND. Following Is the progress report #for fortnight ended June 14+h, 1922: — Mount Ly.dl Mine.—No. 5 level, main Jilin* heading extended to 79ft in broken pv rites; cross pillar heading- to 59ft in K»*hi>t debris. North Mount Lyell Aline: 7uuft level, \o 15 rise to 96ft through quartzite and schist; 1000 ft level. No. 3, north drive, to 168 ft in fairgrade ore; No. 19 rise to 10ft in fairgrade ore. Reduction Works.—One furnace in blast iorl2-2;3 day* during fortnight. 4231 toms of blister copper consigned to the refinery for the current year. Concentrator: Mill treated 3307 tons ore, producing 434 tons jig concentrates and 695 tons flotation concentrates . FOREIGN EXCHANGE RATES. THE FLUCTUATING MARK. (Received June 27. 8.55 p.m.) LONDON, June 26. Foreign exchange rates ou London are quoted : Paris. 52.65 franca to All. Stockholm, 17.21 kroner Christiania, 17.15 kroner Copenhagen, 20.72 kroner. Rome, 95 lire to Al. Calcutta, 15Jd to the rupee. Yokohama, 26Jd to the yen. Hongkong, 31W to the dollar. Montreal, 4.16 to the Al. Near York, 4.38 dollars. At Berlin the exchange initially reached 1590 marks to Al, owing to the political unrest following the assassination of Dr. Ratheuan, but improved to 1520. BUTTER MARKET. KEEN DEMAND CONTINUER. Australian and N.Z. Cable Association (Received June 27, 8.55 p.m.) LONDON, June 26. Butter i 3 in active demand. New Zealand, 2365; Australian, 224 s to 2305. LONDON WOOL SALES. POOR SELECTION. GOOD COMPETITION. Australian and N.Z. Cable Association. (Received Juno 27, 8.55 p.m.) LONDON, Juno 26. At the w-00l sales there was a poor selection, which met with good competition. Merinos made late rates and crossbreds were unchanged. The Bradford tops market is quiet and quotations irregular. WHEAT PRICES. BUSINESS RESTRICTED. (Received June 27, 11.45 p.m.) LONDON, June 26. Wheat prices are firm, but business is checked by the advances in the Continental exchanges. THE METAL MARKET. Australian and N.Z. Cable Association. (Received June 27, 11.15 p.m.) LONDON. Juno 26. Copper, on spot. A6l 13s 9(1; forward del ivory, A6J Is 3d. 1-ipad, A 24 7s 6d and .£23 10s. Spelter, A 27 12s 6U and A 27 10s. Tin, A 152 13s 9d and A 153 15s. Silver, 353(1 per ounce standard. PRODUCE MARKET POTATOES IN SHORT SUPPLY. P».R PRF.S? AfIfIOCfATTON. CHRISTCHURCH, Juno 27. Tho potato market continues firm, and quotations to farmers at country stations are irom 1:4 5 a to Jbl 10s per ton. Grower.-, however, are not offering very freely, preferring, now that tho bulk of the crop is in pit to await tho trend of tho market. Supplies going north during the past week have not been up to the average. The Opihi sailed on Thursday with 4060 odd sacks, tho Wanaka took a similar quantity

from Timaru, and probably about the same quantity to-day from Lyttelton, while the is duo to leave on Friday with a short supply. The next boat scheduled is the Opihi, leaving on July sth. These shipments represent less than an average supply for Auckland, especially as after June the consumption »of South Island tubers increases, duo to the disappearance of the last of the season's northern crop. Oats arc very weak, with a few sales reported. Ryegrass and cocksfoot are still firm. Sales of the latter, machine-dressed, have been taking place at 9d per lb. Linseed is not so firm, and merchants are not finding much of an outlet. WELLINGTON CUSTOMS. The Customs revenue received at Wellington yesterday totaJlcd <£4348 15s 2d.