COMMERCE AND MINING

New Zealand Times, Volume LI, Issue 12017, 20 December 1924, Page 16

COMMERCE AND MINING

WELLINGTON STOCK EXCHANGE. YESTERDAY'S QUOTATIONS. (3.15 p.m. Call.} The tone of the Wellington Stock Exchange yesterday waß firm, but quiet, there being but a small list of quotations at both calk). Business is quiet at present, as it always is at this time of year. Tue Christmas holidays shortly approach, ing have had the usual effect, and there has not been a large offering on the whole. However, there were three .salos transacted yesterday, and indications show that the market maintains a good tenor, well on a parity with previous yearn, and business gives promise of be coming brisk in the New Year. There was only one. lot of gilt-edged securities sought by buyers, Inscribed Stocks (1933) being down by 12j 6d in seller's quotations ot Tuesday, when £lOl 7s 6d was demanded. War Bonds (1933) were offering yesterday at -£IOO 15s. Banks, were firm, sellers of Nationals (cum dividend) advancing by 6d on the previous day's demands, there being otherwise no alterat tions. Only two lots of insurances appeared, both in the buyers, New Zealand’s, being sought at an increase, of 3». A eller of Ward and Co. Breweries | appeared at £3 lls 9d. but drew no rel eponse. . Closing quotations yesterday were as follow.

•Cum div. fEx div. -Ex'rights. Sales reported:—Union Bank of Austxalit (ex rights), £l4 2s 6d; New Zealand sat.es IN OTHER CENTRES. Per Press Association. AUCKLAND, December 19. Sales: —Soldiers’ Bonds, £IOO ss; Do- . minion Pictures (me!.), 20s: Sanford, Ltd. (ex div.), 16s 6d; Wilson's Cement, 26s 9d; Zeehan Consolidated, ss; Kawarau. 20s. CHRISTCHURCH, December 19. Sales reported : Bank of Australasia £l3 IDs’; New Zealand Farmers’ Co-op. 6 per cant (cum. .pref.), 72s 6d; New Zealand Insurance, 31s Bd. DUNEDIN. December 19. Sales:'—Bank- of New Zealand, 60s: Westport-Stoekton (ord.), 2s 6d and 2s 5d , , (three); Dominion Rubber, 22s 9d; New ' ’ Zealand'Loan and Mercantile (ord.), -692 (two); Huddart-Parker, Ltd. (ord.), lls. * Sales reported :—Kawarau. Gold Mining. 20s (two); Huddart-Parker, Ltd., 445; Westpoyt Coal, 34s 3d; 4J per cent. Bonds (1838), £97 ss. BANK OF ENGLAKD WEEKLY RETURN. Australian and N Z .Cable. Association v (Received December 19, 8135 p.m. P LONDON, December 18. . The Bank of England returns'thie week affqyd, (the following comparison with the previous quotations : , . Dee. 18. Dec. 11. •6 £ Coin and bullion ... 126,685,000 126,683,000 Reserve 22,758,000 23,808,000 Note circulation ... 125,504,000 124,450,000 Govt, 'deposits ...... 10.JU7.000 , 10,039,000 Other deposits 108,751,000 125,697,000 Govt, securities ... 42,040,000 57,042,000 Discounts and advances , 72.398,000 72,740.000 Proportion of reserve to liabilities;™.;......, t».Wp.e., 17-65 p.c. gtort loans 2| p.c. - 2fj>. c . • Three months' bills 313-16 p.c. 3| po. LONDON STOCK EXCHANGE GOVERNMENT SECURITIBm. Australian and N.Z. Cable Association (Received December 19. 8.35 p.m. , LONDON. December 28. Following aro the latest Quotations, foi' , Imperial and Colonial Government securitiaz:—

OTHER QUOTATIONS. Waihi. buyers 26s 7d : sellers, 275. P. and 0., buyers Jg29o; sellers £3CO (tx *v.>.

FOREIGN EXCHANGE RATES. Australian and N.Z. Cable Association. • (Received December 19, 8.35 p.m.) LONDON, December 18. The current rates of exchange, compared with the rates ruling on December Uth, and with par, are as follow: New York. 4.70 J dollars, 4.69 f, 4.866. Montreal, 4.701 dollars, 4.71 J, 4.866. Paris, 87.80 francs, 88.25, 25.225. Brussels, 94.95 francs, 85.80, 25.225. Rome, 109.75 lire. 109. 25.225. Berlin, 19.70 reichsmarks, 19i, 20. Stockholm. 17.40 kroner, 17.42,-18.159. Christiania, 31.20 kroner. 36.61, 18,159. Copenhagen, 26.53 kroner, 26.52, 18.159. •Calcutta, 18 l-16d to the rupee, 18d •Hongkong, 28Jd to the dollar, 28|d. •Yokohama, 19 11-16 d to the yen, 19 fluctuates with the price of silver. 7 HOME JVIARKETS DAIRY PRODUCE. Australiar and N.Z. Cable Association (Received December 19. 8.35 p:mi) , > LONDON, December .18. : The buttermarkot is quiet. New Zealand, choicest salted, 2065; unsalted, scarce, at 2145; Australian, salted, 188 s to 190 s; Unsalted, 192 e t0»1945; Danish; about 2405. Cheese is firm. New Zealand, 94s to 96b ; Australian, 90s to 925. BRADFORD NERVOUS. ; . The Bradford tops marked is extremely dull and a nervous feeling is: apparent." sixty-fours, 76d; sixties, !2d: fifty-sixes, 53d; fifties, 41d; forty-sixes, 834 d; forties, 32d. : HIDES QUIET. At the hides sales the. market was very quiet. Few Australians were offered, Prices were unchanged. ■“ CEREALS. 1 1 ' ■ The wheat cargoes market is firm, with good inquiry at late -rates.. Parcels find fair business, with prices occasionally higher. 1 ■Liverpool figures.—December, 13s . SJd; March, 13s 453; May, 13s 3d, The spot trade is fairly active, and quotations are rather firmer. Australian, 645. . Flour is firm. Australian, 475. 1 Oats are steady and' occasionally dearer. Peas and beans are steady and quiet. Sugar, granulated, 83s 4Jd. METALS. ... Silver.—Standard, 32 7-16 d : an ounce: fine, 35d. Copper. —Spot, £65 Us 3d a ton; forward, <£66 lgs 9d. lead.—Spot, £43 5s a'ton; forward, £39 Ws. • ' . Spelter.—Spot, £37 5s a ton; forward) -636 18s 9d. 1 * Tin:—Spot, £259.12s 6d a ton; forward£263 2s 6d. LONDON SHEEPSKIN SALES..’ ' Messrs Dalgety and Company, Limited, : report having received the. following cablegram from their London house, under date of ,the 18th instant:— • “3860 bales of : sheepskins offered and practically all sold. Attendance of buyers is good, competition is good, with good support from America. : As compared with last sale's, closing rates, market for merino. is firm at unchanged prices—halfbrod 2d to 94d higher, all descriptions crossbreds lid to-2d. higher.”FROZEN MEAT. ' Messrs Dalgety and Company, Limited, report having received the following cablegram from their London: house, under date of the 18th instant: "i. “Lamb.—New Zealand prime crossbred lamb, Canterbury, heavy 13d, light:-not-quoted.' North Island heavy and 'light not quoted.. : - ■. “Mutton.—New: Zealand. prime cros& bred ‘mutton, Canterbury, heavy anfr light, not quoted'; North Island, -heavy Bd,-light 9cf. Good demand for New' Zealand. Market: is' firmer. . “Beef.—New Zealand prime ox beef, hinds Sid, fores 4|d. Aotive demand, for New Zealand beef. Market is firm. > “Australian frozen meat.—Good’ average quality crossbred lamb, Australian' heavy 12d, light'lßd.’ Demand for AhsItalian lamb is gotid. Good average quality crossbred mutton* / Heavy 8d» light bid. Demand for Australian, mutton is good. ' “There is practically no Nwr Zealand lamb or Canterbury mutton available on Owing to approach of Christmas holidays, trade is dull, both on spot and tor Shipment." •«».■ - v - DAIRY PECfoUCE. Messrs Dalgety, and Company, Limiied, report having received: the- following cablegram from their London house,’ under date of the 18th. ' “Butter.—Market very quiet;- We quote New Zealand, salted, 208 e •• (2045); New exceptional brands, 210 s (SOfe): Danish, 248 s (2425); finest Australian, salted, 190 s (190 s);. unsalied, 194 s (1925). “Cheese.—Market is quiet. New Zee(93s to 9te); coloored ’ '-'.Th? T V? tal , i,l1 P or ts of butter into the for November amounted to 372,000 cwt, as compared with 388,000 cwts for the corresponding gmonth of last year. - .. ■'■ ■ ~■( . * ' CHICAGO WHEAT FUTURES. Australian and N Z Coble Association (Received December 19, 9.40 p.m.)' WASHINGTON, December 18. _ CJxmago wheat futures:—December 169, May N3J, July 1491 "Cents a bushel. ■ .-1 .. ■ . " : : CANTERBURY MARKETS . AUSTRALIAN FLOUR MENACE. MILLERS AFRAID TO BUY WHEAT. p er. Press ’ As-ncistlon. ' , CHRISTCHURCH. December 19. Growers are showing Some anxiety to trade in wheat, and m such. cases they are prepared ■ to accept 7s a bushel; but millers are not yet buying on this basis. They very much wish to, as the price would.ensure a good area being sown next season, but with .the menace of Australian flour being dumped on to them they feel their hands are tied. A, last week’s quotation from Melbourne.was: £ls 12s 6d I per ton for local consumption, and £l3 15s for export. Millers are anxious to buy _ it if they onjy knew where they ' stood. Merchants', moreover, are standing right off, and under the present uncertainty they are not likely, to sink money in wheat at 7s per bushel and hold it for a few months, to sell as millers require it, to make perhaps 6d per bushel. ' A definite Government pronouncement re imported flour would clear the way for operations in the coming .crop. The forward oat market is dead, and 3s 6d f.0.b., s.i., is the general quotation. Whilst it is daily certain the province will be heavily supplied with Algerian oats, if they are threshed, there is no suggestion that white oats will be in such, abundance. A few sales of tho new' crop of ryegrass have taken place at 3s 3d, f.0.b., s.i., and tho old stuff has .been handled at 5s 6d. Rust lias got into the ryegrass in a number of districts, and this may affect the, yields. Cocksfoot and clovers are not being discussed. ' The potato crops, generally, are looking well, but a spell of warm dry weather is required to steady: the growth of the haulm and give the tubers a chance. Farmers would be prepared to sell at £4 per ton on trucks, for the main crop, but £3 15s is the limit of the offers, and this figure is too low for business. FOLDING STOCK SALE SMALL ENTRY AND GOOD DEMAND. Tor Proft* Association. FEILDING, December 19. At the Feilding sale to-day a- small entry pf sheep met with a ready sale. The first line of store Romney lambs made its appearance at this sale, met with keen competition, and was knocked down at 24s fid. was a heavy yarding of cattle and a good demand for nil classes at recent rates. : Fat lambs realised 30s and 35s 4d; b.f two-toothe 27s 9d, 28s 3d, 30s 7d and 31s 6d: ewes, 26s lOd and 28s 2d; ewes and ■ w.f. lambs, 19s 6d and 22s fid; store ewes.

25s 3d, 28s id and 29s 10d: two-tooth wethers, 29s 7d, 30s and 34s fid; w.f. lambs, 24s fid. . Cattle. —Eighteen-month Jersey Heifers r.w.b. made £5 lfie; forward cows d£3 15s, •24, £4i 5s and £4 9s fid; fat cows, £6 'lss, £7> £7 12s 6d; fat !P.A. heifers £7 5s and £9 7s fid; fat bullocks, ,£10: fat P.A. cows, £7 and lls; fat Hereford heifers £5 7s fid (passed) and £9 12s 6d; ditto cows, £7 7s; three-year Hereford-Short-horn steers Is; fifteen-month Hereford steers, £4 3s: ditto, heifers, .23 3s; fat and forward three-year bullocks; £7 IQs;, two-year* S.Hi steers. ,25 7s fid; fifteen-month P.A. steers, £4 Ba. WESTFIELD MARKET - ADYANCB IN BEEF. There, was an improved demand for ox beef at the Westfield fat stock sales this week, and prices showed a decided advance, With-few exceptions the quality of the beef was first-class. Extra choice ox sold to 36s per 1001 b, other grades bringing from 28s to 355. Prime young cow and heifer beef brought from 27s to 323,. and poorer qualities 10s to 265. Sheep were yarded in moderate numbers, ah'd there was a keen demand with a further slight increase in prices. Heavy prime wethers realised £2 Is 9d to £2 3s; heavy prime ewes, 86s to 395; and best lambs, 395, to 39s 9d. Prices for pigs remained about the same. Heavy baconprs brought up to £3 16s, and heavy porkers' £2 9s to £2 12s. Customs revenue. The Customs revenue received at the port of Wellington yesterday aggregated £7OOI.

Buyers. Sellers. £ a. d. £ 6. d. v Loans— Inscribed Stock (1989) '• — 97 10 0 1 Inscribed Stock (1938), — 97 ‘0 a , Inscribed Stock (1983) —7 100 15 0 f M p.c Inscribed Stock 98 0 0 S) p.b.’Inscribed Stock f (1911) 98 0 0 ' «—• War Bonds (lSS9) ...... — 97 12 6 .War Bonds (19981 v - 97 12 .6 War Bonds <19831 , P.O. Inscribed Stock . "■** 100 IS 08 0 0 0 l Banks— ‘ Australasia 13 9 0 — ■ 0 National of N.Z. . «« — •6 17 New Zealand 2 19 9 - 1 — tfnion of Australia ... 14.1 0 J14 5 0 Financial— Wn. Trust Xoan — S 17 a Gas - 1 Wellington (o»d.) : —. 13 12 6 InsuranceNational of N..Z. 8 10 6 . ■ _ New Zealand ...... 1. M 3 v rr Meat Preserving— ; ' N.Z. Eefrigerating. (J»). V K Z. Befrineratine- (10s) 1,3 0 <2 6 2 Wn. Meat Export (JB3 12s 6d) 1 13 6 — Transport— ' Union Steam (prefj ... •1 O’ 6 — Coal— j 13 9 Timber 1 — 1 4 a Breweries— Ward, and Co'. ..... ; 2 11 9 Miscellaneous— Burns Phiij>’ ;•••• Kirkcaldie and Stains 1 IS 0 o' 8 (pref.) N.Z. Drug (rights) ...... . z* 1 0 0 ,5 Wairarapa. Farm ers 0 17 (pref.) 0 . Wilson's Cement ,18 6 9 0

. Dec. 18. Dec.ll. 0. L. d- 1 2} p.c. Imperial Con57 10 57 15 5 p.c War Loan (192219*7) J.. : 101 5 0 101 7 6 31 p.c. War Loan (19251923) 97 O 0 97 O o' 81 p.c. Conversion 6 t>.c. Aus. Comm. 78 17 6 79 0 0 (1931-41) 101 0 0 100 15 0 51 n o. Aus. Comm. (1922-27) 101 0 110 12 0 100 15 6 110 10 6 pc. NiZ. (1836-51) ... 0 4 p.c. N.Z. (1929) ' 96 2 6 96 2 6 SI p.c. N.Z. (1940) 85 0 O 85 £ 6 S p.c. N.Z. (1945) ei pc. N.S.W. (193077 5 0 77 10 0 40) 108 10 0 108 15 0 6 p.c. N.S.W. (1930325 104 7 6 104 .0 0 54 o.c. N.S.W. (1922-32) 101 5 0 101 2 6 4 p c. N.S.W. (1938) ... 8} p.c. N.S.W. (193092 0 0 92 0 0 50) 83 12 6 88 10 0 8 p;e. NAW. (1035) ... 77 5 0 77 5 0 5} p.c. Vic. (1930-40) ... 103 10 0 103 10 0 81 p.c. Vic. (1921-26) ... 99 5 0 99 5 0 34 p.c. Vic. 1929-40) ... 80 2 6 80 0 0 Si P.c. Vic. (192949) ... 72 17 0 72 17 6 6 p.c. Q'land (1930-40) 106 0 0 106 0 0 4 p.c. Q land (1924) ... 99 15 0 99 15 0 81 p.c. O’land (1921-30) 98 15 0 ee is 0 8} p.c. Q’land (1930) ... 92 12 6 92 12 tf 3 p.c. O'land (1930) ... 71 2 6 72 0 0 p.c. S. Aus. (1945) ... 108 10 0 108 10 0 41 p.c. S. Aus. (1929) ... 84 0 0 84 10 0 8 p.c. S. Aus. (1936) ... 63 12 6 63 5 0 6 p.c. W. Aus. (1930-40) 103 12 6 103 0 0 »1 p.c. W. Ays. (1926-36) 87 10 0 87 7 6 3 p.c. W. Aus. (1915-35) 83 10 0 83 5 0 61 p.c. Tas. (1930-40)... 108 17 6 108 10 0 Hi p.c, Tas. (1926-40) ... 84 0 0 84 5 0 3 p.c. Tas. (1920-40) ... 77 0 0 78 0 0