COMMERCE AND MINING

New Zealand Times, Volume XLIX, Issue 11250, 30 June 1922, Page 10

COMMERCE AND MINING

THE STOCK EXCHANCE SLIGHT IMPROVEMENT IN MARKET THREE SALES REPORTED. Yesterday's calls on ’Change showed n .slight improvement in the market. Inscribed Stock, maturing in 1939, was in demand at lis t>d less than on ’Wednesday, but Inscribed Stock (1938) remained as recently Inscribed Stock (1933) was .it X 97 and Wav Bonds (1939) and War Bombs (1933) were at the same figure. War Bonds (1938) were in demand at recent rates. Nationals were at £o 17s and Nationals (new issue) at X 5 15s. There was a slight increase in the price of New Zealands, but Australasians and Unions remained as recently. Sellers were prepared to accept di93 17s 6d for Inscribed Stock (1939), but were asking is Gel more for *3B. Australians were at Ul3 and New Zealands at X\i 12s 3d, but sellers were willing to take fid lev*s for Unions. Three sales were reported. WELLINGTON EXCHANGE. THURSDAY'S QUOTATIONS. (3.15 pTmT" Call.) Buyers Sellers.

Reported sUos. Bank of New Zealand, X'2 12s; Wellington Woollen (ord.), JCO ss; AYil&on’s Cement, 17s. SALES IN OTHER CENTRES. »EB PRESS ASSOCIATION. CHRISTCHURCH, June 29. Sales reported:—Government 4} per cent Bonds. 1939, <£93 15s; Government 5 n«*r cent. Inscribed, 1929, .£94 7s 6«1; Coldsbrough Mort. (cum div.), J>l 19s 9d; Christchurch Gas, £6 14s. Sale on ’Chanire:—Government Inscribed, 1933, £9? 12s 6d. Sales reported.—Canterbury Frozen Meat, £l3 7s 6d; Dalgety*s, £9 ss. AUCKLAND, June 29. Seles on 'Change:—Waihi, 28s 3d, 28s 6d. Reported sales:—Waihi, 27s id; Auckland Gas, 22s 6d. Sales.—Soldiers* Inscribed Stock, «£97 15s; Paper Mills, 21s 6d; Waihi, 28s 9d, 295. LONDON QUOTATIONS. Austr.-.liaL. and N.Z. Cable Association. (Received June 29. 9.40 p.m.) LONDON. June 23. Quotations on the Ste.k Exchange include:—Waihi Junction shares buyers 9d, .sellers 9s 6d. AUSTRALIAN AGRICULTURAL LONDON. June 28. The Australian Agricultural Company pays a further dividend of 3s per share, ma’iing 5» 6d, free of income tax. TALLOW PRICES UNCHANGED. (Received June 29. 9.40 p.m ) LONDON, June 2». It the tallow sales 2745 casks were offered and 931 sold. The demand was quiet, and prices were unchanged. THE APPLE MARKET. ißecetved June 29. 9.40 p.m) LONDON, June 23. The Berrima’s apples are turning out. in the best condition of the season, but the demand is not brisk. Quotations* Sturmers, 12s 6d to 14s; Five Crown, 12s 6d; Cox's, 9s fid: Spearmints, llsj King's Pippins, lls to 12$, WHEAT CARGOES FIRM. (Received June 29. 9.40 p.m.) LONDON, June 28. Wheat cargoes are firm in sympathy with the advance in America. AUSTRALIAN PRODUCE. (Received June 29, 10.10 p.m.) SYDNEY, June 29. Oats, Algerian feed (local) 3s 9d to 4s, Tasmanian 4s to 4s Id, white 4s 2d to 4s 4d per bushel; maize, yellow 5s 3d, white 5s per bushel; potatoes, Tasmanian £5 per ton; onions, Victorian £l2 per ton. ADELAIDE, June 29. Oats, nominally 3s per bushel.

LONDON WOOL SALES

REPORTED AS CLOSING FIRMLY. New Zealand Loan and Mercantile Agencv Co., Ltd., have received the following cablegram from their London house, under date 28th instant "The aales closed firmly to-day. As compared with last aaks closing rates, prices are lower by about 5 per cent. far medium and inferior greasy merino, merino lambs and inferior scoured merino; lower by about par to 5 per cent, for medium scoured merino; lower by about 5 to 7$ per cent, for crossbred filipe; lower by about 10 to 15 per cent, medium and coarse greasy crossbred; lower by about 10 per cent, for fine greasy crossbred and scoured crossbred. There is no change in the market for superfine merino and greasy crossbred lambs. Average current London value of the undemoted descriptions of New Zealand greasy wool:—Good merino, 22d per lb; medium merino, 181<1 per IS; inferior merino, 15d per lb; fine crossbred, Ifiid per lb; medium crossbred, Bsd per coar«e crossbred. &ld per lb; coarse crossbred (3C’s), Old per lb. "CLOSED ON A DECLINE.** Messrs Levin and Co., Ltd., have received the following cable from their London agenta, dated .Tune 28th, 1922: "Wool saxes have closed, at a decline on opening rates. As compared with the closing rates of the Mar scries, best merinos are unchanged; fine crossbreds, 445’s to 48's, are Id ner lb lower; medium crossbreds, 4t*s to 4lid per lb lower; coarse crossbreds, 40* s to 44's, Id per ib lower; short slipes unchanged: combing siipes 1d per lb lower. For slipe wools price-; are irregular." CLEAN SCOURED TATR AVERAGE. N.Z. Fanners* Co-op. Distributing Co., Ltd., report having received the following cable from their London office, dated Juno 28th:—"Woo! sales closed to-day.

clean scoured prices, fair average N.Z. wool, grade 30 s 83d, 40’s 9d, 44’s 9|d. ifi’s URL 48*s Is 0)d, 50’s Is s£d, 56's 2s 2kh 58’s 2s Sid, 60s to 64s 3s 7id. MARKET IRREGULAR. The Bank of New Zealand, produce dopart men t, has received the following adrice from its London office, under date £Bth inst.: —The sales have closed weak, owing to falling off in competition. The market is affected by the large supplies and is irregular. Current Quotations are lid to 12d per lb; halfbreds, 17d to 19d per lb. medium 7jd to 8d per lb, fine ild to 12d ner lb; halfmreds. 17d to 19d per lb; meidpos, super 2lYi to 24d tier lb, inferior 15d to 17d per lb. Murray, Roberts and Co. advise: —We are to-dnv in receipt of n cable from cur London friends, Messrs Sanderson. Murray and Elder. Ltd., dated 23th instant, reading as follows:—"Sales have closed Compared with present London sales’ opening rates. —Merino, medium to good, par to 5 per cent advance. Merino, other descriptions, market shows no change. Lambs, merino, declined 5 per cent, to 10 ner cent. Crossbred, market very irregular. Crosbred greasy fine, of pood breed and stjde. advance 5 per cent. Crossabred greasy, fine top making, declined 5 per cent. Crossbred greasv medium and gneasv coarse of good lustre and breed, par to 5 per cent decline. Top making decline 5 per cent to 10 per cent. Medium descriptions show the fireatest decline. Crossbred lambs greasy, market shows no change.’* CLOSING PRICES. KEEN COMPETITION FROM OUT- ’ SIDE. Australian and N.Z. Cable Association. (Received June 29. 9.10 p.m.) LONDON, Tune 28. The wool sales have closed. There was a good attendance throughout, Americans and Continentals being keen operator* The Home trade was more reserved. There was increased activity towards the close. Of merinos there was an average selection, and super wools were in Rood demand at full rates. Average sovts were a little irregular, but there was no quotable change. Shabby and inferior lots showed a 5 per cent, decline. Scoured wools met with strong competition at full Mav rates. There were big offerings of crossbreds, and considerable weakness first in the week, but improving towards the close. Fine sorts realised May rates, medium 7-1 to 10 per cent, decline, shabby and coarse grades 10 per cent, decline. •Scoured crossbreds were in strong demand at firm rates. Slipes made good sales at full May levels. Of lambs there was a fair selection at 5 per cent, decline. WELLINGTON CUSTOMS. Tho Customs revenue received at. Wellington yesterday totalled <£9174 14s 4d. When New Zealand butter was ruling in London- at 182 s to 184 s per cwt (early in May) margarine manufacturers expressed themselves amazed, in view of the then high prices and the prospects of them going higher, that butter should continue so popular and the demand for its substitute so low; but, as was pointed out in a letter received bv a Wellington financial house from London, "the fact appears to be that the public generally, having gone on to butter in the early part of the year when prices were low, is not disposed to return to margarine, of which they took such large quantities during the war.*’

£ s. d. £ s. d. AliningBlack water 0 Wnibi 1 5 8 0 0 1 9 0 Inscribed' Stock (1939) 93 10 0 93 17 6 Inscribed Stock <1038)93 12 6 9A 0 0 Inscribed Stock (19311) 97 10 0 — War Bonds (1939) 93 10 0 — War Bonds (193») 93 12 6 — War Bonds (1933) 97 10 0 — Australia 12 16 0 13 0 0 National *5 National wiew issue)... 3 17 0 — 15 0 — New Zealand 2 11 9 2 12 3 Union 12 18 0 12 19 6 U<ddsbiui»g!i Mort Nntion.il Mortgage *3 N.Z. Linn end Her- — *2 0 3 7 6 — eantile (ord.) 74 0 0 — Gas— 'Wellington (ord.) 8 Wellington Debenture Stock 101 17 6 10 6 — In«uranee—• 9 3 Meat Freezing— Gear 1 16 3 Transj>ort— Hurkb rt-Carkor ford.) 2 6 9 2 7 9 Union Steam (mef.) ... 0 19 0 — Woollen— Kaiapoi 'ord.) 1 6 0 Coal— Westport 1 Timber— 10 0 — Lev land O’Brien 1 13 0 Taringamutu 1 7 0 — Miscellaneous— Wilson’s Cement 0 16 10 *Ciun div.