COMMERCE AND MINING

New Zealand Times, Volume XLIX, Issue 11296, 23 August 1922, Page 10

COMMERCE AND MINING

THE STOCK EXCHANGE LITTLE MOVEMENT IN MARKET. NUMEROUS BUYERS QUOTED. Yesterday’s calls on 'Change indicated that there was little movement in the market. Inscribed Stock (1938) and (1939) and War Bonds (1938) and (1939) remained in demand at recent rates. Sobers were asking .£99 los for Inscribed Stock (1933), .£96 for P.O. Ronds (1927). and .£96 for P.O. Inscribed Stock (1937). Union Banks remained as recently, but there was an increase of Is in Australasians and also a slight increase in Nationals. Nationals were obtainable at JJ.i 19s, New South Wales (new issue) at .£35 12s 6d, New Zealands at .£9 16s 3d, and Unions at .£l3. There was a good demand for general lines. One sale (Wellington Trust Loan at JES 10s) was reported. WELLINGTON EXCHANGE. TUESDAY’S QUOTATIONS. (3.15 p.m. call.) Buyers. Sellers £s. d. .£ a. d.

SALES IN OTHER CENTRES. PER PRESS ASSOCIATION. AUCKLAND, August 22. deles on 'Change.—Waihi, 27s 6d; 3rand Junction, 9s 4dRepo: ted sale.—Bank of New Zealand, £3 16s 3d. SalesSoldiers' Inscribed Stock, £99 se; Commercial Bank, 33s 6d; Auckland Gas (cont.), 17s 9d; Howard Smith, 47s 9d; Northern Steam, 13s; Union Oil, 28s 6d; Wilson's Cement, 19b. CHRISTCHURCH, August 22. Sales reported:—National Bank, £5 18s Id; Howard Smith, j£2 7a fid; HuddartParker, A 3 11s. DUNEDIN, August 23. Sale on 'Change.—Bank of New ZeaIsn'i, y6s Bd. Reported.—Standard Insurance, 31s fid. MOUNT LYELL MINING CO. WORKS IN PROGRESS. following is the progress report for the fortnight ended August 9th, 1922: Mount Lyell Mine. —No. 5 level, main pillar reading to 22ft in north end, and to 119 ft in south end, through broken prrites; North Lyell mine, 700 ft level. No. 15 rise to 136 ft in schist; 1000 ft level, No. 3, north drive, to 181 ft in fair grade ore. Redaction Works. —One furnace in blast for 4 1-3 days during fortnight; 1058 tons of blister copper consigned to the refinery for the current year. Concentrator: Mill operated 320 hoars and treated 3339 tons of ore, producing 141 tons jig concentrates and 816 tons flotation concentrates. BRADFORD _ TOPS. Australian and N.Z. Cable Association. LONDON, August 21. Bradford wool tops are Arm, but with little business passing. WHEAT CARGOES DULL. Australian and N.Z. Cable Association. LONDON, August 21. Wheat cargoes are dull in view of the large world crop, American prices, and lack of Continental interest. Prices declined fid to Is. Parcels are in poor request at Is to 2» per quarter decline. FOREIGN~EXCHANGE RATES. Australian and N.Z. Cable Association. LONDON, Angust 21. Foreign rates of exchange on Angust gist are as follow New York, 4.48} dollars to JBI. Montreal, 4.48} dollars. Paris, 58.00 francs. Stockholm, 16.8 kroner. Christiania, 25.72 kroner. Copenhagen, 20.70 kroner. Berlin, 4970 marks. Rome, 96.07 lire. Yokohama, 25jd to the yen. Calcutta, 18fd to the rupee. Hongkong, 30Jd to the dollar. CANTERBURY MARKETS POTATO PRICES WEAKENING. PER PRESS ASSOCIATION. CHRISTCHURCH. August 22. The potato market is about the same, but Auckland advices are that an over supply there is effecting the weakening tendency. Between July 23rd and August 19th 37,800 sacks arrived, practically a six weeks' supply. Even allowing for « fair proportion of seed, this moans a sufficiency until well on in September. Values to farmers, at country stations, are from Jii 2s 6d to £4 ss, Dakota's being in slightly better request on account of their keeping qualities, but farmers are not offering many. Oats are, if anything, weaker, due to Southland quotations, which are at 2s fd d.f.0., b.s.L, for B’s. which is actually breaking 2s at country stations. The equivalent for Canterbury’s B's is 2s Id to 2a 2d. Chaff is not eliciting much inquiry. Cocksfoot is weak as tho result of offers of Danish. Linsood is not meeting with much inquiry and prices havo weakened. Linseed is a disappointing crop to growers. The eowgrnss market is unsettled on account of reported quotations of American seed sold to England at a substantial drop on recent rates. The American article is undressed, but the cabled quotation to London is reported to be at each a price that it would apparently close the door to New Zealand exportation, although up to a few days ago good London .offers wero still available in the Dominion WELLINGTON CUSTOMS. 1 lie Customs revenue received at Wellington yesterday totalled £3936 18s 4d.

METAL MARKET. (Received August 22, 11.15 p.m.) (LONDON, August 21. Copper, on spot £6l 16s 3d, forward delivery ,£63 18s 9d. Lead, on spot £24 15s, forward delivery £23 17s 6d. Spelter, on spot £3l 10s, forward delivery £3O 12s 6d. Tin, on spot £l6l 6s Bd, forward delivery £l6l 6s 3d. Silver, 35d per ounce standard. FRUIT AND VEGETABLES. LAEBT AND CO/a REPOItT. Laery and Co., Ltd., Wellington, re. port present values, Wellington, market : Apples—Fancy Delicious, popular sizes 15s 6d to 16s 6d, clioioe 14s to 15s; Jonathans, fancy 9s to lls. choice 8s to 9s; Sturmere, fancy 9s Gd to lls, choice 8s to 9s, medium 6s to 7s; London Pip. pins, 6s 6d to 7s 6d; Washington, 9s to 10s; Munroes, 7s to 8s Gd; Wolseleys, 8s to 9s; King Davids, 6s to 7s; Pioneer Statesman, 8s to 9s; Ballarat, 7s to 8s; Epps, choice green 5s to 6s; Doughertys, Hawke's Bay, 9s 6d to lls; Nelson, 8s to 9s; Cleopatra, 6s to 7s bushel case. Pears—Choice Nclis and Coles, 2Jm to 2Jin, 12s to 15s; Barry, 9s to 10s; Keifiers, 7s to 8s 6d; Diels, 6s 6d to 8s bushel case. Lemons—Auckland, choice cured, 12s to 13s. Poorman oranges, large 12s to 13s 6d case. Kumeras. choice, 13s to 14s per cement bag; pumpkins, choice red squash 8s to 9s, ironbarks 7s to 8s per sack; cauliflowers, very plentiful lately, 4s 6d to 8s per sack; cabbages, choice 10s to 16s, good 6s to 8s per sack; eggs, fresh, Is 4d per dozen; butter, farmers’ separator and dairy. Is 3d to Is 4d lb; dressed pork, choice 7Jd to 8d lb; walnuts, choice bright, Is 2d to 1b 3d per lb; fowls, 5s €d to 7s; ducks. 12s to 155.; turkeys. Is to >a Id per lb; fungus, 8d lb; basic slag, Cs lOd lb.

Mininjr— Waihi - » 1 8 3 tascribed Stock (1939) Do 10 9 ■ Inscribed Stock (1938) 95 10 0 — [ascribed Stock (1933) — 09 15 0 War Bonds (1939) 95 10 0 — War Bends (1938) 95 10 0 •— P.O. Bonds (1927) — 96 0 0 P.O. Insoribed Stock (1927) - — 96 0 0 Bank*— Australasia 13 1 0 . National 5 18 3 5 19 0 N.S.W. (now issue) ... — 35 12 6 New Zealand — 2 16 3 Vnion 12 18 6 13 0 0 Financial— Goldsbrcmgh Mort ... 2 0 National Mortgage ... 3 8 6 2 1 6 0 — Wn., Investment T. * A. 0 8 e ■ Wn. Trust Loan 5 9 6 Gas — ' Auckland (paid) 1 2 9 — Christchurch — 8 0 0 Wellington (pref.) ... 0 15 6 — Wellington Debenture Stock 105 0 0 —* Meat Freezing— N.Z. R e £ r iterating (10s) 0 12 9 — Gear — 1 17 9 Transport— Huddart-Parker (ord.) 2 11 0 2 12 d Woollen — Kaiapoi (cont.) — *0 12 0 Westport 1 10 6 — Waipa 0 15 9 0 16 6 Timber— Faringamntu 1 10 6 — Miscellaneous— Wn. Cordage — 1 0 3 •Cum dir. Roported sale.—Wellington Trust Loan, £5 10s