COMMERCE AND MINING

New Zealand Times, Volume L, Issue 11652, 17 October 1923, Page 11

COMMERCE AND MINING

WELLINGTON BXCHANGB. YESTERDAY’S QUOTATIONS. (3.15 p.m Call.) Prices of investment and mining stocks

Sales reportedlnscribed Stock (1933), AJIO2; Union Steam, .fill 19s; D.I.C. (pref.L iei Is; N.Z. Drujf Co., X 3 Ss. SALES IN OTHER CENTEES. Pe- Press Association. ... . AUCKLAND,. October 16. Sales. —War Loan, per cent. (1941), £B7 2s 6d. Sales:—New Zealand Breweries. .£102; Bank of New Zealand, 52s 6d; New Zealand Inscribed Stock, 30s; Biver Plate, 21s. . CHRISTCHURCH, October 16. Sales -reported.-5i per cent. Inscribed (1927-41)499; Kaiapoi Woollen, 21s. On ’Change.—Bank of New Zealand, 51s. 3d. Sales reportedHnddart-Parker, 42a (four. parcels); Canterbury Froxen Meat, J 215 8s 6d. i DUNEDIN,-October 16. 26s ?d. Sale reported.—Union Bank, <£l4 19s Sales on. ’Change:—Waiki, 26s 9d; Huddart-Parker (ord.), 42s (two). Sale reported: Bank of New Zealand, 52s 6d. P. AND 0. SHARES Australian and N.Z. Csble AsaociaHaa (Received October 16, 7.30 p.m.) LONDON, October 15. Peninsular and Oriental shares—Buyers, ,£300; sellers, .£.'UO. FOREIGN EXCHANGE RATES • Australian and N.Z. Cable Association (Received October 16, 7.30 p.m.) LONDON, October 15. The current exchange rates compared with those' of October 11th, and par, ore os under: New York—4.s3J dollars, 4.55 i dollars, 4.666. Montreal—4.6o4 dollars, 4.624 dollars, 4.866. Paris—73.Bo francs, 74.57 francs, 25.225. Brussels—Bs.7s francs, 87.55 francs, 25.225. Rome—93) lire, 99f lire, 25.225, Berlin—ls to 20 milliards, of marks, 13 to 18 milliards, 20.43. Calcutta—l6fd (to the rupee), 16|d, 24d. : Hongkong—27Jd (to the dollar), 27|d, —. Yokohama —25Jd (to the yen), 253 d, 24.43 d. ' Stockholm —17.15 kroner, 17.21 kroner, 18.159. Christiania —29.25' kroner, 29.13 kroner, 18.159. Copenhagen—2s.Bo kroner, 25.75 kroner, 18.159. METAL PRICES (Received October 16, 11.15 p.m.) LONDON, October 15. Copper—Spot, ,£6O 13s 9d; forward, £6l 8s 9d. Lead —Spot, .£27; forward, .£26 3s 9d. , Spelter—Spot, ,£B2 7s 6d; forward, £3l 17s 6d. Tin—Spot, ,£202 8s 9d; forward, ,£2OO 8s 9d. Silver, 31 7-16 d. BETTER TONE AT BRADFORD Australian and N.Z. Cable Association (Received October 16, 7.30 p.m.) LONDON, October 15. The Bradfbrd woo) market has a better tone. Fair business is being done in crossbreds, but merinos continue to be neglected. Quotations are nominally unchanged. WHEAT Australian and N Z. Cable Association (Received October 16, 5.5 p.m.) LONDON, October 15. The market for wheat cargoes is steady, with prices nominally unchanged. Parcels are in fair request. Australian (arrived), 45s ljd. HIGH PRICES FOR LAMB PURCHASES IN HAWKE'S BAY. FARMERS REAPING GOLDEN PRICES. NAPIER. October 16. Fine quality 6pring lamb is now finding its way on the market at Is 6d per pound down to Is 3d. There has been a good lambing all over tho district, and it is not anticipated that there would bo such high value placed on the new arrivals. This hat* been caused by the poorer lambing returns in other districts, and Hawke's Bay bae become the happy hunting ground for numerous buyers fiorn Wellington, who have been buying heavily up to 27b per head for lambs not exceeding 321 b in weight. Heavier lots are turned down by these buyers, Htfifilim of . any coarseness, but fitfk

account of the weight being too great to pass the export grading. Willi such excellent prices ruling for lambs it is anticipated that the farmer is in for a golden harveest this season. Lambs at a pound per head on the hoof are considered, good business, and at 27s there is much profit in them. "With brightening wool prospects the outlook of the farmer is said to he most encouraging. MELBOURNE WOOL SALES By Telegraph.—Press Assn. —Copyright. (Received October 16, 10.15 p.m.) MELBOURNE, October 16. The wool sales were resumed to-day. There was keen competition for comebacks and medium crossbreds, the former showing a rise of 5 pet cent., and the latter up to 10 per cent, on the opening rates. Merinos were practically unaltered. CANTERBURY MARKETS LITTLE- BUSINESS DOING. By Telegraph.—Press Asen. —Copyright CHRISTCHURCH, October 16. Very little business is being done now among merchants, even xjotatoes, which were in such keen demand for months f>aefc, .being practically dead. North Isand markets appear to be overstocked, and the prices onering from that source are so low as to preclude business being done. A letter received from Wellington to-day stated that the local market that any potatoes would be required for was over-full, and it was not anticipated about ten days. A line of whites were recently sold on the wharf at Auckland, ex Atua, at .£lO 10s per ton. “The number of farmers -who nave potatoes to sell is rather surprising/' said a merchant to-day, when discussing the potato market. “Farmers who I had no idea had any potatoes left have been coming in during the past few days wanting to make sales/' The demand for seed potatoes is practically nil, and the same merchant, in speaking of the position, said he had not previously seen such a state of affairs. Generally when table potatoes were high there was a good demand for the seed class, but this year inquiries for seed potatoes practically ceased about June. Fowl wheat is a little easier than has Been the case for 6ome time, and plenty of it- is- about. Milling wheat is unobtainable, so merchants state. If there Was any about they would be pleased to purchase it. A little more forward business has been done lately in partridge peas, and some sales w'ere made on Monday at 6s t.o.bL, s.i., for April-May delivery. There is little doing in other lines. HOME JMARKETS DAIRY PRODUCE. Dalgety and Company, Limited report having received the following cablegram from their London house, under date of the 15th instant:— “Butter —Market steadier at unchanged prices. “Cheese—Market has improved considerably. Since our report of the 12th instant, Canadian is 6s to 8s higher, now quoted at 112 s to 114 s, both spot c.i.f. Very little New' Zealand available. Nominal quotations, 114 s to 1165." TALLOW. Messrs A. H. Turnbull and CO. report? —We are in receipt of a cablegram from Messrs W. Weddel and Co., Ltd., dated London, October 10th, reading as follow®“Tallow market unchanged. 1190 casks were offered, of which 200 were sold. Inferior 6d cheaper/' .PRODUCE MARKET Leery and Co., Ltd., Wellington, report wholesale prices as follow ;—Peatneal, £9 10s; barley meal, jB9 oh; pigmeal, «£7 10b; wheatraeal, <811; linseed meal (Mooee brand),. 18s 6d; linseed nuts (Moose brand), 16s 6d; meat meal, for poultry, 15s 6d; chicken raiser, 15s 6d; shell grit, 6s per 100 lb; fowl wheat, choice whole 5-sack lots or over 6s 3d, lesser quantities 6s 4d per bu&hel, sacks Is Id; oats, machine-dressed seed Algerians 5s 6d, farmers dressed seed Algerians 5s 3d, feed Gartons 4e, crushed oats 4s 4d, Sparrowbills 4s, seed Gartons 4s 2d, Duns 4s Id per bushel, sacks in; shelled oats, for chickens, 5» 6d bushel; mixed fowl feed, 5-sack lots or over 5s 4d, lesser quantities 5s 6d per bushel, sacks in; peas, feed 5s 6d, Prussian Blue 8s; Partridge peas, 7s 6d per bushel, sacks in; barley, Chevalier 5s 2d, Capo 56 bushel: maize, whole 5b 9d, crushed 6s 3d; butter, farmers* separator and dairy, Is 4d to Is sd; eggs, new laid Is 4d per dozen, storekeepers' lines Is 2d to le3d; fowls, White Leghorns 6s to 7s 6d, Black Orpingtons ana similar heavy varieties 8s to 9s pair; ducks, runners 10s to 13s per pair; turkeys. Is Id to le 4d per pound; geese, 8s 6d to 9s pair; fungus, 5d per lb; rock salt, 6s 6d ::er cwr-, dressed pork, GO'a to 90's, 8d per lb; chaff, oaten sheaf, Blenheim prime JJ9 10s, Blenheim medium quality .£8 10s per ton, sacks in, f.o.b. Wellington; straw chaff, for chickens or cow feed, JB6 15s per ton, 6acks in; seed potatoes, Arran Chief £9, Sutton's Supreme «£l4. Gamekeepers £9, Northern Stars £9, Red Dakotas £9, Commonwealth .£B, New Era £7 10s.

yesterday were as follpw;— Buyers. Sellers. £. 6 d. £ s. d. Mining— . Waihi 1 6 6 1 7 3 War Loans— Inscribed Stock (1938) 97 0 0 — Inscribed Stock (1933) — 102 0 0 W ar Bonds (1939) 97 0 0 — War Bonds (1938) 97 0 0 — M a’ - Bonds (1930) 97 0 0 — War Bonds (1933) 102 0 0 — P.O. Inscribed Stock (1927) 98 15 9 Debentures— Wellington Gas 106 5 0 N.Z Breweries .01 0 0 101 10 0 Banks— -■National — 6 18 0 New South Wales 40 15 0 — New Zealand — 2 12 9 New Zealand (new issue) 2 11 6 Union — 15 0 0 Financial— Dalgety and Co 13 0 9 — Gas— Gisborne 0 14 0 Napier (pref.) — 9 17 G Wellington (s610) — 14 5 I V\ elbngfon (pref.)' — 0 17 3 Insurance— Notional 3 17 G South British 2 1 0 *2 2 6 Standard 1 17 0 — Meat PreservingCanterbury Frozen (ord.) 15 0 0 15 7 0 N.Z. Refrigerating (£ 1) 1 3 0 — N.Z Refrigerating (10s) 0 11 9 0 12 i Gear 3 0 9 Wn. Meat Export (-23 12s 6d) — 2 10 0 Transport— Huddart-Parker " (ord.) 2 1 9 2 2 3 Union Steam (pref.) ... — 1 0 8 WooUen— 'Wellington (ord.) — 9 0 0 Wellington (pref.) — 9 0 0 Timber— Kauri 1 8 i 1 8 '7 Leyland O'Brien 1 18 6 ftotoiti 1 1 0 Taringamutu 1 13 8 — Miscellaneous— Crown Brewery 2 14 6 D.I.C. (pref.) — 1 1 0 Gates, Ltd — 1 0 0 Howard Smith 2 12 0 2 13 0 N.Z. Drug 3 5 0 N.Z. Breweries — 1 6 6 Scoullar and Co — 1 2 6 Sbnrland & Co. (ord.) 1 2 0 Sharland & Co. (pref.) 1 2 0 Wafrarapa Farm ers' (pxef.) 0 16 6 0 17 3 Wellington Cordage ... -- n o € Whitcorube and Tombs ■ — t3 14 6 Wilson's Cement 1 8 6 1 9 0 *Cmn div. tEx.div.