THE WORLD OF COMMERCE

New Zealand Times, Volume LII, Issue 12194, 20 July 1925, Page 8

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE SATURDAY’S QUOTATIONS. (10 a.m. Call.) Saturday's closing quotations for premioms of investment, as advised by the Wellington Stock Exchange, are as follow s Buyer*. Bel lers. £ s. d. £ s. d.

tCum rights. *Ex prem. Sales reported. British Tobacco Co. (Australia) (ord.), £2 4s. SALES IN OTHER CENTRES. Per Press Association. AUCKLAND, July 18. Sales on 'Change.—Wilson’s Cement, 335: Waihi, 20s 9d; New Zealand Inscribed Debentures, £97 ; New Zealand Breweries Debentures, 22 s. CHRISTCHURCH, July 18. Sales reported.—New Zealand Government 41 per cent. Inccribed (1938), £97 ; South British Insurance, 49s 9d; Dalgety and Co., JBl4 12s 6d; Now Zealand Refrigerating (cont., cum, div.), 9s 2d (two parcels), 9s Id, 9s 2d; New Zealand Farmers’ Co-op. 6 per cent. (cum. div.), 72s 6d. Sales on 'Change.—Goldobrough Alort (cum. rights), 475; New Zealand Refrigerating (cont., cum. div.), 9s Id; Commercial Bank of Australia, 80s. DUNEDIN, July 18. Sales.—Dominion Rubbers, 53s 6d, 53s 9d (two parcels). Sales -reported. Electrolytic Zinc (pref.), 80s 3d. LONDON STOCK EXCHANGE FEVERISH BUYING OF RUBBER NO BREAK EXPECTED. Australian and N.Z. Cable Association. (.Received July 19, 5.5 p.m.) LONDON, July 18. Features of the Stock Exchange during the past week have boon the rubber share boom and the marked strength of gilt-edged stocks, the latter, of course, being responsible for the decision, to issue the Commonwealth's loan forthwith. The rubber boom on Monday produced the wildest Stock Exchange scenes witnessed since the war, feverish buying being carried' out without regard to price, or the values of particular shares. This wild orgy received a check on Wednesday, when, in consequence of a. slight reaction in the price of raw rubber, tens of thousands of eharos were rushed- on the market. Those, however, were soon absorbed, and the market rallied. No real slump in these shares need be expected . till the price of raw materialdrops considerably. Hitherto the Government has refused to interfere in the Stevenson production control scheme, regarding the present "fancy 0 prices of raw rubber as merely a temporary phase, which will soon right itself. ENGLISHMARKETS Weed-end quotations Australian and N.Z. Cable Association. {Received July 19. 5.5 p.m.) LONDON. July 18. Lambs, Canterbury light, lljd. Frozen beef—Australian crops, Sid; Argentine, fores, Bjd. Chilled beef, Argentine fores, SJd. hinds 8d: Uruguayan, foTes 3sd, hinds 7d. Other meats unchanged. , Cotton—Liverpool quotation for American middling upland, August delivery, 18-16 d a pound. Rubber—Fine hard Para, 49d a pound; plantation, first latex crepe advanced Id to 3d. rnd with smoked ribbed sheet is quoted at 54d to 54$d. Jute— Indian native, first marks July shipment, .£4B a ton; August shipment, j 645. New Zealand hemp, July shipment, £4O a tun. . __ _ _ Copra. ba""e<l South Sea. June-July shipment, £29 17s fid a ton. 1 Lineeed oil. .£4l 10s a ton. equal to 8s 3 4-5 d n gallon. Turpentine. fi7s 3d per cwt, equal to 5s Id a gallon. Antimony—British, £<4 10s to £<s; foreign, .£O4 to £65. Sugar, 80s 7id. DAIRY _PRODUCE LONDON MARKET VERY FIRM INCREASED DEMAND. Australian and N.Z. Cable Association (Received July 19. 5.5 p.m.) LONDON, July 18. The continuance of dry weather has had the effect of increasing butter and cheese prices. It is noticeable that Australian and New Zealand butter has continued to harden, despite the slight weakening of Danish. Australian butter lias advanced even since Thursday. Arrivals from Australia and New Zealand during June were heavy, and there are large quantities in the cold stores, but in view of the expanded consumptive demand it will all ho needed. The trade forecasts firm prices both for butter and cheese for some time to come. PRESERVED FRUITS Tlie tnnned and dried fruits trades both have been very quiet, the latter suffering a lull following on the heavy sales prior to the removal of the duty. It is too early to say whether sellers will bo enables! to maintain the present prices.

PRODUCERS’ BOARD REPORT MUTTON AND BEEF. The New Zealand Meat Producers' Board has received the following cablegram from its London office, dated July 17th, 1925, advising Smithfield delivered prices at that date as follow, with prices for the two previous weeks also shown, in ‘ parentheses: Wethers and maidens: Canterbury quality, selected brands, sfilb and under, July 17th, 7Jd (July 10th, 71d; July 3rd, 7Jd); 571 b to 641 b, 7d (7d, 7d); 651 b to 721 b, 7d (7d. 6id); other brands, 561 b and under, 7Jd (74d, 7sd) ; 571 b to 641 b, 6|d (6|d, 63d); 651 b to 721 b, 6id (6sd, 6|d). Ewes : 641 b and under. July 17th, s|d (July 10th, sfd; July 3rd, s|d). Lamb: Canterbury quality, 861 b and under, July 17th, 12d (July 10th, 12d; July 3rd, 12d); 371 b to 421 b, 10Jd (10id, lid); 431 b to 501 b, lOd (lOd, 10d); seconds, ll|d (ll|d, llfd). Selected brands, 361 b and under, 12d <l2d, 12d); 371 b to 421 b, 10|d (10|d, lid). Other brands, first quality, 421 b and under, 11 Jd (Hid, llid); seconds, llfd (llfd, llld). Beef: Ox, fores, July 17th, 84d (July 10th, Sid; July 3rd, Sid); ox, hinds, sfd (sid, sjd)« cow, fores, 2id (2£d, 24d); cow, hinds, 4dd (4Jd, 4id). Argentine chilled beef: Ox, fores, July 17th, 3Jd (July 10th, 4fcd; July 3rd, 3fd); ox, hinds, 8d (BJd, 7Jd). frozen beef: Ox, fores, 3fd <3£cl, 3sd); ox. hinds, 6d (6d, sfd). Frozen pork; 1201 b to 1801 b, 81d (Bid, BJd). SHEEPSKIN SALES Australian and N.Z. Cable Association. (Received Julv 19. 11.5 p.m.) lONDON, July 19. At the sale of woolled -sheepskins there was a large attendance, and good competition, with a fair American demand. Merinos compared with the May sales, advanced in price by 5 per cent., Jfinte crossbreds by 5 to 10 per cent., medium 10 to 15 per cent., low by 5 to 10 per* cent.; burry and inferior sorts were irregular. Dalgety and Co., Ltd., report having received the following cablegram from their Loudon house, under date of the 17th instant:— Sheepskin sales.—s 800 bales of sheepskins were offered, including 2129 bales Punta Arenas, 4832 bales sold. As compared with last sales closing rates crossbred combing skins prices are to 10 per cent, higher, crossbred clothing skins par to 5 per cent, higher. Following is the range of prices:— ) Merino, # to full woolled, 154 d to 18d; i to -i woolled, lOd to 14d; etyort and shorn, 74 to 91d; crossbred 3 to full woolled line. 13fd to 184 d; f to full woolled medium and coarse, llfd to 16d; i to halw yoolled fine, llfd to 15fd; f to f medium and coarse, 9d to 14d; short and shorn, Bfd to 12d. Lambs, 12d to 16fd. LOAN AND MERCANTILE The New Zealand Loan and Mercantile Agency Co- Ltd., have received the following cablegram from their London house, under date 17th instant:— New Zealand frozen meat—Lamb, llfd per lb (average); mutton, quotations unchanged. Last week's quotations were as follow:—Wether and maiden ewe, light 7*d per lb. heavy 6fd per lb: ewe. light ofd per lb, heavy Sfd per lb. Market quiet. TURNBULL AND COMPANY Messrs A. H. Turnbull and Co. are in receipt of a cable from Messrs W. Weddel and Go., Ltd., London, reading as follow with the previous week's figures given in parentheses:— Danish butter 194 s (190 s to 1925): New Zealand, unseated 194 s to 196 s (192* to 1965). salted 188 s to 192 s (186 s to 188 s). Market firm Cheese, white and coloured 108 s to 110 s (105 s to 107 s). Market firm. FROZENMEAT SHIPPED FROM DOMINION BEEP, MUTTON. , AND LAMB. The New Zealand, Meat Producers* Board report the following shipments of frozen meat from New Zealand for the past eight months, commencing November, 1924 v and ended June, 1925: .1924.—November: Beef 9804, mutton 107,925, lamb 19,716, London; beef 3706, mutton 2456, lamb 7478, West Coast, U.K.; December, beef 11,576, mutton 142,056, lamb 204,746, London; beef 25,256, Genoa. ,' 19251—January: Beef 7480, mutton 108,173; lamb 380,326, London; February, beef 6745, mutton 216, 189, lamb 473,227, London; beef 5932,, mutton 73,924, lamb 231,367. West Coast U.K.: beef 5199. Hamburg; March, beef 27,898, mujton 209,102, lamb 373,425, London; beef 4133, Hamburg; Apri.l, beef 26,035, mutton 159,456, lamb 617,518, London; beef 14.364, mutton 49,277, lamb -205,070, "West Coast U.K.; beef 3106, Hamburg; Mav beef 19.487, mutton 198,146, lamb 837,769, London; beef 10,359, mutton 6114, lamb 67,820, West Coast TJ.K.; beef 47,324 Genoa; June, beef 3312, mutton 99,134, lamb 357,345, London; beef 30,345, mutton 41.397, laralt .121,141, West Coast U.K. Totals (beef, mutton, and lamb given in that order); London, 112,337; 1.240,181; 3,264,189. West Coast of United Kingdom. 64,706,173,168 : 632,876. Genoa, 72,580. Hamburg, 12,438. KILLINGS AT WORKS The killings at the various works curing the past eight months were:—Beef (quarters).; North Island, 448,446, Smith Island 13,553, total 461,999; wether mutton (carcases),. 1.122,639, 148,441. 1.271,080; ew© mutton (carcases), 673, 162. 283. 452, 956,614: lamb (carcases), 2,037,287, 2,689,046. 4,726,333; pork (carcases), 35,272, 467, 35.739: boneless beef (freight carcases). 191,853, 57,161. 249.014; sundries (freight carcases), 48,782, 10,502, 59.284. STOCKS ON HAND. Beef (quarters). North Island, 227.291, South Island 10.549. total 237,840; wether mutton (carcases), 356,044. 74 896, 430,940; ewe mutton (carcases), 268,597, 198,086, 466.683; lamb (carcnses), 121,232. 575.130, 696.362; pork (carcases), 5855, 45-4, 6309; boneless beef (freight carcnses), 57,085, 36.397. 93.482: sundries (freight carcases), 26,538, 6158, 32,696. " SHIPMENTS FROM AMERICA The New Zealand Meat Producers' Board has. received a cable from its representative at Buenos Aires, South America, advising the following shipments to the United Kingdom for the fortnight ended July 9th, 1925, from Argentine and Uruguay—l23,6oo quarters chilled beef: 16,273 quarters frozen beef; 41,303 carcases frozen mutton; 60.396 carcase* frozen lnmb. ’ The quantity sdiiuped to the Continent of Europe during the same period totalled :—104.250 quarters frozen beef; 5722 carcases frozen mutton. AUCKLAND GRAPEFRUIT Australian and N.Z. Cable Association. LONDON. July 17. A first small consignment of Auckland grapefruit was ton small and rather wasty. The regular trade refused to buy, and they were sold to a costermonger at 3s per case. PALMERSTON NORTH SALE Dalgety and Co,, Ltd-, Palmerston North, repdTt having a good yarding of sheen and admail entry of cattle at their Feilding sale on Friday, the 17th ipstAnt Quotations —Fat wether? 9s fid: light fat ewes. 265, 27s f to 28s; fat lambs to 32s 3d; good 4 and 5-year ewes r.w. S.D. rams. .£2 3s sd, £2 4s 6d to M2 5s 3d; low conditioned ewes r.w. S.D. rams. 29s 9d to 32s Gd; small ewe Hoggets, 27s Gd: small wether hoggets, 26* 9ri; good yearling Jersey heifers to £3 8s; dairy cows at drop, ,£5 12s 6d to £6 10s. CUSTOMS REVENUE. The Customs revenue received nt the port of Wellington on Saturday aggregated £3042. ;

FEILDING STOCK SALE , FAT. SHEEP HARD TO SELL: • ' Per Press Association. FEILDING, July 17. The yarding at the Feilding stock sale to-day constituted mainly breeding ewes with a small entry of store lambs and a medium quantity of fat sheep. The favourable weather conditions were responsible for a large attendance of buyers, who competed with much. keenness for any lines. Good ewes, especially those in lamb to Southdown rams, and good store hoggets, were also in demand, though .any in poor condition sold at relatively lower prices. Fat sheep and lambs were hard to quit, except a few pens of superior quality, anything not quite prime being neglected. Fat sheep and lambs; These realised 24s fid, 25s Id, 27s (prime), and 33s 6d (prime); ewes, 26s 9d, 28s, 365, and 84s?3d;, wethers, 34s 6d, 38s 3d (small), 42s 6d, 435, and 43s 6d (good); blafek-fficigd’shebp, 34s 6d; stores, forward ewes, 16s, 21s 3d, and 245; small w.f. lambs, 14s 4d and 16s 8d; w.f.m.s. lambs, 23s 9d, 25s 10d (medium), and 30s (good); poor ewes, r.w. Southdown rams, 19s Id, 20s 6d, and 29s 3d; .medium, ditto. 31s, 42s 5d v and 32s 9d; good, ditto, 43s Id and 45s 6d; ewe hogget’s, 27s 4d and 28s; wether hoggets. 25s 7d and 29s fid (good); four, sixtoothed and four-year ewes, r.w. Romney rams. 44s 2d and 44s Gd; two-toothed, ditto 445; two-toothed, ditto, r.s. S.D. rams, 455: fat forward wethers, 36s 3d. There was a good yarding of all classes of cattle which sold at an > improvement to late sales. Store cattle were keenly sought after, and fat cattle showed a marked improvement on last sale. Dairy cattle were very quiet, only good cows and heifers selling at all. Fat Polled

Angus bullocks, good sold at £ll 9s; flight fat bullocks,. £B, 'M9 os; good fat coyrsi-MT IQs aipl £7 17s 6d; well-beed Sfibrtnorn yearling heifers, M 3 Is; ditto, steers, .£4; empty Polled Angus Heifers, x ■M3 14s; weaner Hereford steers (good', IMi 10s; two-year Polled Angus steers, £5 14s; well-bTted;2o-qionvh Shorthorn steers, MG 9s’3 2£-yeat steers, in poor condition. M 5 657 ; . ‘ PALMERSTON NORTH SALE Dalgety and Company, Ltd., report, having a small entry of sheep and cattle at their Palmerston'North sale on Thure-' i day, the 16th instant. Quotations:— Prime fat wethers, .£2 3s 6d; springing | cows, la>te caHers. M 3 5s t0..£3 10s: crossbred, springing heifers. ,£3 10s; forward cows, M2 Hs, £3, to £3 2s; store cows, 35s to M2: rough 3-year steers, £6 16s; j light fat cows, £3 17s 6d; Potter bulls, £2 17s 6d. S. George Nathan and Co.. Customhouse quay, Wellington, Chief City .Agents for Phoenix Assurance Co., Ltd., 235, Lambton quay.—Advt.

N.Z. Govt. Loans-r-inscribed Stock (1939) 96 L 8 -* Inscribed Stock (1338) 87 0 0 97 5 Inscribed Stock (1327) 38 15 0 — Inscribed Stock (1541) 28 15 0 War Bonds (1938) 97 0 0 Debentures — — N.Z. Breweries (bonds) i i ii — Bank*— — 1 10 New South Wales ...... — New Zealand — t7 '-'2 Goldsbroush Mort. .. — +2 i National Mortgage. —* 6 lb — Wn. Trust Loan 6 0 • — 7 18 Wellington (pref.) o ie 6 Insurance— National — New Zealand ■ — * fl 15 South British — Meat Preserving— N.Z. Refrigerating (10s) 0 9 1 Wn. Meat Export (£9 12a fid) — 0 Transport— 2 4 6 Union Steam (pref.) ... 1 0 0 Woollen — — 0 14 Kaiapoi (contrlb.) 1 It 0 1 13 ley land O'Brien 2 16 0 — National Breweries— Crown 1 16 9 — 1 17 Ward and Co. 2 17 6 Miscellaneous — British Tobacco (Aust.) (ord.) Burns, Philp and Co. - 1 16 3 Colonial Sugar ............ 52 0 0 — Dental and Medical D.I.C. (ord.) •0 5 0 D.I.C. (pref.) 1 o — Electrolytio Z i n e __ fl 11 0 Wilson's Cement 1 13 0 1 13