COMMERCE AND MINING

New Zealand Times, Volume LI, Issue 12007, 9 December 1924, Page 12

COMMERCE AND MINING

WELLINGTON STOCK' EXCHANGE. YESTERDAY’S QUOTATIONS. lO.io p.m. cali.-J There v/er** four sales reported on tlio Wellington Stock Exchange yesterday, prices all round being firm. There were good offers for Government loans, and f-everal buyers made an appearance for bank shares, but the seller v,*ho was asking ,Cl 3 10s for V. and O. Banking Corporations reduced to .513 yesterday. There wore no buyers forthcoming, however. The demand for Bank of New South Wales was evident by an increase of 2s Gd on Saturday’s buyers’ quotations. Bank of New Zealand shares were sought ut £3 lb 3d, but sellers wore only prepared to reduce by 3d their JC3 Is Ud demands over the week-end. Setlevs reduced from .52 17s to .52 15s on Radiac Metals over the week-end, and although Farmers' Co-op. Auctioneering terd.) advanced Is in the buyers no sellers were forthcoming. The Union Bunk .of Australia, new issue, £2 15s (paid), which appears on the list, arises out of the recent authorisation to increase the national capital of the bank to by the creation of 100,000 shares of JEIS eaeft, £5 paid, and they have been offered lo shareholders, one new share for every *ix shares held. The price of the issue Is .CU per share, of which .66 represents capital, payable in four equal instalments of -C2 15s each, on November 16th, December 17th. 1924. January 14th, and February 11th, 1925. The new shares will rank for any dividend payable in Jufy of next year. Closing quotations yesteruay were as

Sale on 'Change (10 a.m. call)New i Zealand Government Loan 5J per cent. Inscribed Stock (1927), JB9B. Sales reported (3.15 p.m. call): —Hud-dart-Parker (ord.), £2 3s 9d (two parcels); 4 Westport Coal, *£l 14s. J S A LKS IN OTHER CENTRES. I Per Press Association. AUCKLAND, December 8. Sales: —New Zealand Inscribed Stock (1938), £97 10s; Auckland Harbour Board $ per cent, debentures, £103; N.Z. Breweries debentures, 21s lOd; National Bank of New Zealand. £0 15s; Standard Insurance, 41s 9d: Auckland Gas. 24s 3d. CHRISTCHURCH, December 3. Sales reported:—Bank of Australasia, £l3 10s (two parcels); New Zealand Farmers’ Co-operatiyp (6J per cant, stock, 1939), £B2 10s. Sales on ’Change:—Bonk of Australasia. £l3 10s; Goldsbrongh Mort., 50s 6d, new 49s 3d (two parcels); New Zealand Refrigerating (con.), 11s lOd; National Bank of Australasia (£lO paid), £ls 9s. DUNEDIN, December P. Sales:—Kawarau Goldmining Co.. 20s; Dominion Rubber, 21s 9d; Mount Lyell,

HOME MARKETS

OFFICIAL RANGE OF PRICEB HIGH COMMISSIONER'S CABLE. The Department of Agriculture has received the following cablegram, dated 6th instant from the High Commissioner tor New Zealand, London: — BUTTER. Market slow, with tendency easier, Germany continues to buy largo quantites of Danish. Official quotations are*. New Zealand.—Finest, salted: December 6th, 202 s to 2Me per cwt (la 9£d per lb), Up to 206 s per cwt (Is 10d); November 29th, 206 s to 212 s per cwt (Is 10id to Is 10#d); November 22nd, 204 s to 206 s per cwt (Is 94d to Is lOd). Unsaltert: December 6th, 214 s to 216 s per cwt (Is lo|d to Is lid); November 29th. 218 s to 2203 per cwt (Is lljd to Is Other qualities: December 6th, 170 s to 194 s per cwt (Is 6d to Is Bjd). Australian.—Finest, salted: December 6th, 190 s, 192 s up to 194 s per cwt (Is 84d to Is 8|d); November 29th, 192-4 to 196 s per cwt (Is to Is 83d); November 22nd, 184 s to 188.« per cwt (Is 74d to Is Bd>. Unsalted: December 6tb, 190 s to 198* per owt Os Bi<l le 9d); November 29th, 194 d to 196 s per cwt (Is Bid to. Is 9d); November 22nd, 188 s to 194 s per cwt (Is 8d to Is 83d). Other qualities: December 6th, salted 160 s to 186 s per cwt (is s£d to Is 73d), unealted 166 s to 1S&» per cwt <1& 53di to Is 73d). Argentine.—December 6th, 174 s to 1S0» per cwt (Is 6sd to Is 7Jd); November 29th, 176 s to 180 s per cwt (Is 6jd to Is 7Jd); November 22nd, 176 s to 182 s per cwt (Is 6§d to Is 73d). Other qualities: December 6th, 164 s to 172 s per cwt (Is 5Jd to Is 6jd». Canadian.—Creamery: December 6th, 384 s to 188 s per cwt (Is 7£<l to Is 8d); November 29tn, 176 s to 183 s per cwt (Is 63d to Is Sd); November 22nd, 174 s to 186 s per cwt (la 6§d to Is 73d). Danish.—December 6th, 232 s to 234 s per cwt C2s OJd to 2s Id); November 29th, 238 s to 240 s per cwt (2s lsd to 2s l|d); November 22nd, 218 s to 222 s per cwt (Is Hid to Is 113 d). CHEESE. Somewhat better demand. Official quotations nr©:— English.—Finest farmers. Firm. December 6th, 118« to 120 s per cwt (Is Oid to Is OJd); November t?9th, 116 s to 120 s per cwt (is Ojd to Is OJd); November 22nd, 116 s to I2ok per cwt Os OH to Is Ofdb ‘ . Canadian.—December 6th, coloured and white, 93s to 90s per cwt (lOd to lOJd); I November 29th. coloured 93.4 to 96s per rwt COd to JOid), white Ms to 96« nm- I 9Vt (IjfcL to ipvi; ; ym-amK., r c-I, 1

cured and white, 933 to 90s per cwt (IIU to 10Jd>. New Zealand.—December 6th, coloured new season’s, 72s r©r cwt (0}d); white, new germ's. 92< to 93s ycr cwt te 19d); coloured ami white, old season’s, 9cg to 9-ls per cwt (Uhl); November 23th, coloured and white, new’, 90s to 91s ]er cwt coloured end white, old, 92s I to 94$ x>er cwt (2*d t-o 10c!); November 22nd. coloured and white, new. 90s to 91s per cwt (9£d); coloured and white, old, 92s to 24s per cwt Wid to lOd). Australian.—Market steady. December !6th. coloured, 900 per cwt (S’hl); Noveui- ! bar 29th, coloured, SSs Vo 83s per cwt (9d i-'K c’d); November 22m1, coloured, 885 to CO* per cwt (Old to 9-ld). Estimated, stocks of cheese on V»r Ist at T mflor,. and P l "*-*- (ol were:— and American, 2R?.600 boxes: New Zealand and Australian. 83,170 crater, against 132,700 boxes ; nd 13.100 crates respectively for same time la.st year. A shipment of New produce arrived this week per s.s. Maiw»«. CASEIN. French rennet, J 231 per ton. HEMP. Manila market Ann and .active during, this week, but closed quiet. grade, lhv cember-February shipments sold at ,€36 to .£SO lCs, but to-day’s value £56. New s Zealand market quiet. Small business has been done in Highpomts, DecemberFbbruary* shipments, at •.£43 10s. To*, day’s quotations are Higlipoints, £44; fair, December-February shipments, .£42. Wool. Demand continues bvisk with New Zealand wool selling well chiefly to , Bradford Good support from. Continent- and America, and opening prices fully maintained. TALLOW. Market quiet. * Present quotations —Fine, 53s to 53s 6d per cwt; fair to good, 49s 6d .to 525; dark to dull, 46s to 47s fid. . B ee f—Sweet and/or mixed, 51s to o3s per cwt; fair to "ood, 48s to 50s; dark to dull, 44s €d to 4€s Gd. Mixed—Fair to good, 47s 6d to o9s per cwt- dark to dull, 44s 6d t0.46s 6d. Gut, etc., 41s to 46s per cwt. Blue marrowfats— Japanese now making £24 10s per ton c.i.i., DecemberJanuary shipment after reaching- .I.S. Tasmanian "A” grade sold at £2t.to £22. c i f - New Zealand, ex store, worth about . £lB ‘ to £2O. , , I Maple—Market slow. Tasmanian, spot , quoted at 80s to 87s 6d per 5C4!b sellers, and February-April shipments 72s to 7os. Reported sales in new crops at T4s 6d. New Zealand No. 1 partridge,, slow sales, spot at 70s to 77s 6<l; buyers indicate 65s to 70s new crops, for .shipment early next year. English maple, good supply on hand offering at 50s to 603. BEANS. English, plentiful at 53s to 62s per 5321 b. DANISH COCKSFOOT. London quotations at present about 82s to 95s per cwt. EGGS. Trade slow. English, Irish, Danish, Dutch, Belgian, 24s to 29s per long 100. Italian, Australian, South African, 21s to 24s per long 100. Argentine, Russian, Styrian, 'l6s 9d to 20s per long 100. Egyptian. 12a to 13s 3d per long 100. New Zealand, 25s to 26s per long 100. BANK OP NEW ZEALAND CABLE The Bank of New Zealand, produce department, hae received the following advice from its London office, under date Butter —Quiet, 202 sto 20to per cwt; second grade, 182 s to 184 s. Cheese—Steady, 92s per ewt; old seasons, 92s to 84s. Frozen meat —The market is firm for wethers. There is a weaker tendency for owes. The prices for lamb have probably reached the top. Trade in beef is slaw. Wethers, light 8d to 9d per lb, heavy 7id to 8d; ewes, sid to 7id; lambs, new season’s Australian, 13d to 134 d; ox, hinds s ',d to aid, fores to 4id. N.Z. PRODUCERS’ CO-OP. I The New Zealand Producers’ Co-opera* tive Marketing Association, Ltd. (per Sir E. S. Donaldson, secretary), forward copy of the weekly cabled market report, dated ( London December sth. i Butter—Market slow. New Zealand, salted 200 s to 2025, unsalted 214 s to 2165; I Australian, 1903 to 1945; Canadian, l£4s to 188 s; Argentine, 174 s to 180 s; Danish, 2S2s; Siberian. 150 s to 168 s. Cheese—Market quietly steady. New Zealand, both colours, 925; Canadian. 93s to-965; Australian, 90s. Stocks of cheese in Great Britain at December Ist—Canadian. 105,000 cratesj New Zealand, 33,000 crates. WEDDEL AND CO. A, H. Turnbull and Co. report:—Wo are in receipt of a cable from our principals, Messrs W. Weddel and Co., Ltd., dated London December 3rd, reading as follows: At tallow auctions to-day 600 casks were ordered, and 170 eold. Late rates to 6d less.

THE WOOL SALES

OTAGO’S GOOO CATALOGUE. HEAVY OFFERINGS EXPECTED. A fortnight hence the first Dunedin wool sale of the current season’s series is to be held (writes the Dunedin correspondent of the Auckland “Star”). Last year the catalogue for the corresponding sale held on December 17th comprised about 13,000 bales. This year the offerings promise to be considerably heavier. Wool is coming in freely. It has been a good spring, free from much rain, and shearing would have been even more forward but for difficulty in getting shearers, who have presumably been delayed by broken weather in the North Island. This scarcity is fairly acute :in Otago, and operates against the keenness of growers to take advantage of the phenomenal prices ruling. Already some of the station clips are coming in, andl the wool is opening up very well indeed.

NEW ZEALAND PRODUCE

MARKETING IN UNITED KINGDOM. Some improvements which, might bo effected in. the marketing of New Zealand produce in tbo United Kingdom were suggested by Mr M. Stevens m an address to tho north-western section of the Institute of Transport at its opening meeting at Manchester. He said that j every great storage warehouse should be {connected by rail with every ship’s berth I 1 and quay shed, and with a muin line, Public stores bad an advantage over private ones, because they were in moro continuous use. and because banks would lend the owners of the merchandise their money in circumstances which they would j not accept in the case of owners with j their own warehouses. The storage charges should be no higher in this country than those charged in the countries'of origin. If that were so traffic would begin to flow far more freely. Charges for storing’ frozen meat to-day were twice ae high as those in New Zealand l . Thus there was an incentive to keep food on the other side. The same couid be said of wheat. Their aim ought to be to induce tho producer to send these things forward at once by providing equal or; greater warehousing facilities at Home.! And os private enterprise could not be expected to invest the largo capital: sums needed, tho State should provide a sufficiency of store warehouses to contain six months' supplies of essential food and raw materials, whether imported or Home produced, so placed that, excepting for tho interest upon the capital costs of the warehouses, goods could, after passing through them, be available for sale on the same terms as if sold ex quay when clireclv landed from an iin-j porting vessel. Mr Stevens dealt with ‘ lc>sons of the war, and expressed the opinion that the only real security wu-i to have food in sufficient Quantity tmdly ttered in ths United Kingdom.

Buyers. Sellers s. d. Ji s. d. 97 13 6 Inscribed Stock (1938) 97 13 inscribed Stock (1933) — 101 7 6 War Bonds (1938) 97 7 6 — War "Bonds H939) 07 7 6 — 6 War Bonds (1933) — 101 7 r.O. Inscribed Stock (1929) — 88 0 0 0 — *— 6 3 1 6 3 P and O. Banking 6 13 0 0 1 nion ol Australia ... tH - — Union of Aust. (new issue. JS2 15s paid) ... o 10 0 — Equitable JBuilding ... — 6 9 7 6 National Mortgage ... 3 18 N.Z.L. and M.A. (ord.) — *97 0 0 Wellington (pref.) 0 18 9 0 17 6 3 10 6 Sooth British 2 3 Meat Preserving— 0 Wn. Meat Export (JE3 12s 6d) — 1 15 6 Transport— . _ Huddart-Parker lord.) — 2 4 Wellington (ord.) ...... — 6 16 0 Wellington (pref.) — « 16 *0 Coal— Westport — 1 14 6 Westport - Stockton (pref.) — 0 6 0 Waipa 0 19 6 ' — Timber— - Kauri *1 10 0 — Uevland-O’Brien 2 8 6 . 2 11 9 National 1 3 6 *— Miscellaneous— C. M. Banks (ord.) ... 1 8 0 . . C. M. Banks (pref.) ... 0 17 6 0 19 0 Bkirns Philp 1 3 — Farmers' Co-op. Auctioneering (ord.) 3 1 0 — Howard Smith — 1 14 9 N.Z. Drug (rights) — 0 5 0 Scoullar and Co — 1 2 6 '. airarapa Farm ers (pref.) 0 17 0 Ward and Co — 2 12 0 Kadiac Metals — 2 IS 0 Electrolytic Zinc (pref.) 18 0 •Cum div. +Ei rights