COMMERCE AND MINING

New Zealand Times, Volume LII, Issue 12163, 13 June 1925, Page 6

COMMERCE AND MINING

WELLINGTON STOCK EXCHANGE YESTERDAY'S QUOTATIONS (3.15 p.m. Call.) Following were the latest quotations on the Wellington Stock Exchange yesterday afternoon » Buyers. Sellers. £ 8. d. £ 3, d Mining— Eclipse Gold Claims... Far Loans— Inscribed Stock (1938) 96 12 6 Inscribed Stock (1933) 101 5 0 War Bonds (1933) 101 5 0 P.O. Inscribed Stock (1929) 98 0 0 98 10 0 P.O. Inscribed Stock (1927) 98 5 0 P.O. Bonds (1927) 98 5 0 Debentures— Glaxo 85 0 0 N.Z, Breweries (bonds) 1 111 12 1 Wellington City 4 p.c. (1934) Banks— Australasia 14 6 0 14 11 0 Commercial of Aust. (ord.) 110 9 1 U 6 National of N.Z. (rights) 1 5-10 16 1 Ne.v Zealand *2 18 0 New Zealand (new issue) —2 J 7 0 Union of Australia ... 14 14 0 14 15 0 Financial— 1 Abraham & Williams (ord.) 4 3 0 Goldsbrough Mort. ... *2 8 0 National Mortgage ... N.Z. Guarantee Corp. (ord.) 0 10 0 N.Z. Guarantee Corp. (pref.) 10 9 N.Z. Loan and Mercantile (ord.) 94 0 0 96 0 0 Wn. Deposit and Mortgage 0 9 4 InsuranceSouth British 210 9 211 9 Meat Preserving— N.Z. Refrigerating (-C1) o<9 3 N.Z. Refrigerating (10s) 0 9 6 Transport— Huddavt-Parker (ord,) 2 4 6 2 4 9 Coal— Westport ' 1 12 6 Waipa *— 13 3 TimberKauri 13 0 Loyland O'Brien Rotoiti 12 0 National 12 3 12 6 Breweriee— Crown 1 14 6 Manning and Co."" 1 17 6 N.Z. Breweries *ll9 6 Ward and Co MiscellaneousBurns, Philp and <?o. 115 6 116 0 Colonial Sugar 51 0 0 D.I.C. (pref.) 10 6 Electrolytio Zinc (prff.) 18 3 Howard Smith 1 14 9 1 15 6 N.Z. Drug N.Z Milk Products ... 1 7 9 N.Z. Paper Mills Taranaki Oil Fields ... W.F.C.A. (pref.) 0 17 6 Wilson’s Cement 1 12 3 1 13 0 *Cum div. Sale reported (10 a.m. call): —New Zealand Breweries Bonds, <£l 2s*. Sale reported (3.15 p.m. call): New Zealand Breweries Bonds, £1 2s, same £1 2s*; National Bank of New Zealand, «£1 5* 9d, same -81 6s* (two parcels); Timber, <£l 2s 3d. SALES IN OTHER CENTRES. Per Press Association. , AUCKLAND, June 12. Sales on 'Change: National Bank (rights), 25s 9d; Soldiers' Loan, Inscribed, dC101: War Loan (1938), 4J per cent., J 96 15s; Bycroft, Ltd., 26s 6d; Sanford's, 21s. Sales:—Bank of Australasia, J 214 12s; Wilson's Cement, 32s 6d. CHRISTCHURCH. June 12. Sales reported; —Huddart-Parker Co., 44s 6d; Bank of New Zealand (new), 56b 3d Sales reported I—National Bank of New Zealand (rights), 26s (four parcels); Goldsbrough Mort (cum div.), 47s 6d; Westport Coal, 31s 6d; Henry Jones Co-op., 445; Mount Lyell Mining (cum div.), 21s lid. > Sales on 'Change:—Bank of New Zealand (new), 56s 3d; Weßtport Coal, 31s 6d. DUNEDIN, June 21. Sales National Insurance, 70s 6d; Kaiapoi Woollen (ord.), 12s 6d, Sale reported New Zealand Breweries (debentures),, 225. :—National Insurance, 70s 9d Sale reported:—Bank of New Zealand (old issue), 57s 6d. EXCHANGE RATES ON N.Z. Australian and N.Z. Cable .Assomation (Received June 12, 7.40 p.m.) LONDON, June 11. The following exchange rates, on New Zealand, will come into operation tomorrow : ’ Buying Discount. s. d. Sight 20 0 Thirty days *3l 3 Sixty days 42 6 Ninety days :... 53 9 ’ Selling Discount Demand droits Par Mail transfers Par Cable transfers 5s p.c. pre. FOREIGN EXCHANGE RATES Australian and N.Z. Cable Association. {Received June 12, 5.5 p.m.) LONDON, June 11. Following are the current rates of exchange, compared with the rates current on June Bth, and with par: New York, 4.86 dollars, 4.85 15-16, 4.866. Montreal, 4.851 dollars, 4.85*, 4.866. Paris—99.ss francs, ICO, 25.225, Brussels, 101.45 francs, 101. SO, 25.225. Rome, 122 5-8 lire, 122,25.225. Berlin, 20.42 reichsmarks, 20.42, 20. Stockholm, 18.17 kroner, 18.16, 18.159. ! Oslo, 28.79 kroner, 28.91, 18.159. Copenhagen, 25 76 kroner, 25.87, 18.159. Amsterdam, 12.09 f florins, 12.09 f, 12. Batavia, 12.06 1-10 florins, 12.06 1-10, 12. *Par fluctuates with the price of silver. NEW ZEALAND LAMB A WELCOME PRESENT. By the last English mail the New Zealand Meat Producers' Board has received a report from its London manager that the orders for the delivery of carcases of prime New Zealand lamb for the Easter season, under the board’s scheme, were duly completed, and he has received several hundred letters all testifying to the quality and splendid condition in which the lambs arrived at their destination. This form of advertising ia doing good work in advertising New Zealand lamb is proved bv the many letters received bv the board's London manager from recipients. GRAPE FRUIT TRIAL SHIPMENT FOR NEW ZEALAND. A smalt consignment of properly cured New Zealand grape fruit, of the variety known as Poorman. was passed for shipment by Mr W. H. Rice, the new orchard instructor at Auckland, before 'he left for Wellington to attend the New Zealand Fritgrowers' Conference. Tt is understood that this is the first riiipmert of this fruit ever mode on a commercial scale from New Zealand. The Customs revenue received at the port of Wellington yesterday aggregated J&3301,

BANK OF ENGLAND WEEKLY RETURN. Australian and N Z CabU Association. (Received June 12, 5.5 p.m.) LONDON, June 11. The Bank of England returns this week ailord the following comparison June 11 June 4. £ Jt Coin and bullion ... 155,230,000 154,656,000 Reserve 28,795,000 27,393,000 ; Note circulation ... 148,026,(100 148,831,000 Govt, deposits 8,954,000 ' 11,604,000 Other deposits 112,428,000 114,110,000 Govt, securities ... 39,877,000 42,997,000 Discounts and advances 70,501,000 73,110,000 Proportion of reserve to liabilities 23.72 p.c. 21.79 p.c. Short loans 3£ p.c. p.c. JThree months* bills p.c. 4$ p.c. LONDON STOCK EXCHANGE GOVERNMENT SECURITIES. Australian and N.Z. Cabla Astociation. (Received June 12, 5.5 p.m.) LONDON, June 11. Following are the latest quotations for Imperial and Colonial Government securitiesl — June 11. June 4. £ e. £ 6. 21 p.c. Imperial Consols 56 0 *56 0 5 p.c. War Loans»(l922-27) SO 15 99 17} 3} p.c. War Loan (1925-29) 96 o , 96 5 6} p.c. Conversion 75 15 76 5 6 p c. Aus. Comm. (193141) .7. 103 0 103 15 5} p.c. Aus. Comm. (192227) 99 17} 99 15 6 p.c. N.Z. (1936-51) 109 0 109 12} 4 p.c. N.Z. (1940) 94 1A 95 0 3V rn.c. N.Z. (1940) 83 O *B3 10 3'p.c. N.Z. (1945) 74 17} 75 12} 6} p.c. N.S.W. (1930-40) ... 105 15 105 17} 6 p.c. N.S.W. (193(432) ... 102 15 102 7} 5} p.c. N.S.W. (1922-32) ... 100 2} 100 .0 4 p.c. N.S.W. (1933) 90 7} *9O 7} 3. p.c. N.S.W. (1930-50) ... 80 15 81 10 ' 3 p.c. N.S.W. (1935) ...... 76 .2} *77 0 54 p.c. Vic (1930-40) 101 10 101 2} 34 p.c. Vie. (1921-26) 98 0 *9B 0 3} p.c. Vic. (1929-49) 77 0 *77 17} 8 p.c. Vic. (1929-40) 70 0 *7l 5 6 p.c. Q’land (1930-40) ... 105 0 105, 0 St p.c. Q’land (1930) -. 90 7} “SO-10 3 p.c. Qiand (1922-47) ... 68 15 *7O 0 6} p.c. & Aus. (1945) ...... 106 0 105 10 • 3} p.c. S. Aus. (1929) 83 0 *B2 15 3 p.c. S. Aus. (1916) ...... 59 12} *6l 0 6 p.c. W. Aus. (1930-40) ... 102 0 101 15 3} p.c. W. Aus. (1926-36) ... <B7 0 87 ‘5 3,p.c. W. Aus. (1915-35) ... -82 0 ,82 0 6} p.c. Tas. (19230-40) 106 5 106 0 3. p.c. Tas. (1930-40) , 82 0 *Bl 15 3 p.c. l’as. (1920-40) 76 0 *76 0 “Ex divi HOME MARKETS COLONIAL PRODUCE PRICES LATEST QUOTATIONS. Australian nnd N Z. Oablp Association. (Received June 12, 5,5 p.m.) . LONDON, June 11. •Butter —New Zealand choicest, 178 s 180 s; exceptionally good, 184 s; unsalted, 3865. Australian, salted, 170 s to 1745; unealted, 178 s to 180 s. Danish (arriving plentifully since the cessation of the strike), about 188 s. The market is firm, with a good demand, apparently due to the extremely hot weather. The prospect of its continuance, which is causing talk about the prospect of drought, is making retailers anxious regarding their stocks, despite the fact that a large quantity of butter is in store and current arrivals are still considerably exceeding consumption. Cheese is firm; New Zealand,. 97s to 98s Australian, temporarily cleared. The Bradford tops maiket is slightly more cheerful, with a better inquiry for merinos, but quotations are unchanged. At the hides sales the market was very dull, with no demand for Australians. Nominal quotations: Salted, 39-401 b, 7d; 40-501 b, 7d; 50-upwards, 7 l-6d. Dry: salted, 20-30, 9d; 30-40, 94d. The wheat cargoes market is dull, and prices are 6d to Is down, owing to good Canadian and Continental crop reports., Parcels are weaker, with lack of buy-j ing. The spot trade is stagnant, but prices generally are maintained. Ausr tralian, ex ship, 63s 6d to 64s 6d. Flour is slow, Australian, ex store, 45s 3d. Oats are steady. Peas and beans are slow. Sugar is unchanged. SROZEN MEAT Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date of the 11th instant:— Lamb.—New Zealand prime crossbred lamb, Canterbury, heavy losd, light llid; North Island, heavy 10d, light llid. Demand for New Zealand lamb runs principally on light weights; market weak. Mutton —New Zealand piime crossbred mutton. Canterbury, heavy 6d, light 8d; North Island, heavy ssd, light 7sd. Demand for New Zealand mutton runs principally on light weights; market weak. Beef—New Zealand prime ox beef, i hinds sd, fores 3d. Fair demand for New Zealand beef; market weak for foreqiiarters. Pork—Nominal price on spot 8d to Bid; very little demand on spot owing to excessive heat. •DAIRY PRODUCE Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date of the 11th instant:— Butter—Market firm. We quote New Zealand, salted 178 s (1725); Danish, 1925; finest Australian, salted 174 s (1665). unsalted 176 s (170 s). Cheese—Market firm. New Zealand, white 93s (93s to 945), coloured £7s (935); Canadian, fodder 925. Last week's, quotations are given in parentheses. ARRIVALS IN GREAT BRITAIN. Since our report of sth instant the following vessels have arrived in the United Kingdom:—Turakina, June sth, 31,097 boxes butter, 18,926 crates cheese; Kent, June 9th, 16,336 boxes butter. PALMERSTON NORTH SALE Dalgety and Co., Ltd., report having a small yarding of sheep and cattle at their Palmerston North sale on Thursday, Uth instant, which sold as follows: Extra prime heavy ewes, 39s 6d to £2 7s, mime fat wethers, ,£2 3s; light fat ewes, 80s; light fat cows, £4 10s, store cows £1 to FEILDING KEEN SALE; PRICES HIGHER. Tor Press Association. FEILDING, June 12. At the Feilding stock sale to-day a moderate yarding came forward, and despite very adverse weather conditions met with brisk competition throughout, practically all the entry being sold at prices slightly in advance of late rates. Breeding ewes wero eagerly sought and sold at prices very satisfactory to vendors, while fat and forward ewes showed an advance of quite 2s per head. Fat sheep and lambs sold well, one pen of he*vy prime wethers realising 48s 6d, and a pen of good woolly fat lambs 32s 6d. Quotations—Fat lambs, 24« 7d 24s lOd, 28s 7*l, 275, 31s 6d, 32s 6d; fat ewes, 25s 9d for light, 27s lid, 23s 6d, 36s 9d, 39s Id; fat b.f. two-tooths, 3Ss 6d; fat wethers, 39s for light. "48s 6d for heavy; stores, 4 and 5-vear Romncv ewes, r.w. s.d rams. 30s. 6d, 325, 345, 39s 6d (good condition well woollcd); f. and f empty ewes, 255, 25s Id. 26s 'd; b.f. lambs, 18s, 2Cs 3d. 25s 3d; Romney wether lambs, 225, 245, 25s 3d, 23s 8d; small lambs, 11s 3d, 19s; store ewes, 8s lid, 16s Id, 16s 7d, 17s 3d. Cattle.—A good yarding of nil classes I resumed in a keen sale, nil cattle soli- j ing at advanced rates. Good fat bullocks, £l2 ss; good fat-heifers, £8 15s; best

fat cows, 10s to =£7 ss; 29-month' Hereford steers, «£6; small m.s; * P.A. cross weaners, 36s 6d; Jerseys weaner heifers X 3 to .£3 10s; good condition cows, £3 10s to «£4 2s 6d; lower conditioned cows, «£2 to <£3 ss; dairy cows’ spring calves,'.£3, «£4, to ; £6,. . ROOT AND SEED CROPS CANTERBURY MARKET DEAD. f Per Press Association. CHRISTCfIURCH. June i2. The market is. distinctly dead in (be' bread and butter lines of the trade, but interest is developing in the more mi* pojra.it branches nf cereals. Offerings of wheat have almost disappeared, and it is obvious now that not a few farmers are holding in anticipation of something cropping up to advance prices. Oats are just about holding recent values For prompt A Gavtons from 45 4d to 4s 5d has been paid, and for JulyDecember delivery 4s, 4d f.o.b.s.i There are few B Cartons offering, but there has been quite a clearance of Algeviani ! during, the week t ore quoted, according to quality, at 3s 3d to 3s 7d f.0.b.5.i., or 2s 9d to 3s on trucks. It 1 is ‘reported that there has been a free nufehase of A grade Gartons in the south for milling purposes, Business in perennial rvogross has passed at 5* “id f.oh.si. Perennial is one nf the few 'lines in which there is business. Italian is dull of sale, and values (o farmers, for good quality, is up to S*. Little cowgrass is offering. Quotations aro from 9c to lOd on trucks. White clover is being offered fairly freely The quality is very varied, but for medium to good stuff from Is to Is 3d is offering, due. to some extent., to tap burst of wet wether. The potato market is healthier Auckland is now inquiring about supplies for tlio next few months. In addition inouiries from Sydney are most frequent The Kauri and Wingatui. which sailed n.i Tuesday and Wednesday for Auckland, took 4700 sacks, and (he next boat does not leave until "Wednesday or Thursday of next week.