THE WORLD OF COMMERCE

New Zealand Times, Volume LII, Issue 12199, 25 July 1925, Page 6

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE YESTERDAY’S QUOTATIONS (8.15 p.m. Call). Yesterday’s closing quotations for premiums of investments and mining stocks, as advised by the Wellington ’Stock Exchange. are as follow: Buyers. Sellers.

SALES IN OTHER .CENTRES. Per Press Association. AUCKLAND, July 20. Sale on 'Change: Wilson’s Cement, 335. Soles. —New Zealand Inscribed Stock <1336-51), £lOl 10s; Bank of New South Wales, £4l ss; Bank of New Zealand. Ess 9d ; Union Bank, £l4 18s 6d; Auckland Gas, 23s sdf Tonson Garlick, 13s; Majestic, Is 6d; Waihi, 25s 9d. CHRISTCHURCH, July 24 . Sales: 5J per cent. Inscribed Stock (1923), £lOl ss; Commercial Bank of Australia, 30s 6d ; National Bank of Australasia (£lO paid), £l6 17s. €d; Manning’s Brewery, 38». Sales . reported.—New Zealand Government 4$ per cent. Bonds (1938), JSS 7; Goldsbrough Mort. (rights), 9e; New Zealand Breweries, 40s--Bale on ’Change.—Mount Lyell Mining, 21s'4 . ‘ ■ DUNEDIN, July 24 Sales i Dominion Rubber, 50s Id. 50s. Sales reported.—New. Zealand Insurance, 34s 9d; Commercial Bank of A ustralia, 31s (two parcels). ENGLISHMARKETS LONDON WOOL SALES CLOSE COMPARISON OF PRICES. Australian and N.Z. Cable Association. (Received July 24, 9.20 p.m.) LONDON, July 23. The wool sales closed steady. Pinehaired spinners’ merinos were very firm, at prices 5 per cent, above the average at the close of the May sales. Top-making wools weakened, and are now 5 per cent, below May rates. Good scoureds are unchanged; short faulties Are 5 per cent, below May rates. Fine crossbreds, comebacks, and lialfbreds are firm at May rates; coarse and medium, 5 per cent, below. Best slipes are firm: others are rather irregular. Scoureds are generally in the favour. Best merino lambswool is 5 per cent, above May rates; short faulty 5 per cent, below; and crossbreds are very firm. At Bradford businesses stagnant, with practically no-inquiry. The threatened strike is affecting all sections. WHEAT. Wheat cargoes bpened firm, sellers asking an advanco of 6d to 9d. Buyers were indifferent, and little business was done. •One srlo at 535. Parcels were steady, with prices unchanged to 6d advance. Sales, to 575. Liverpool futures: July, 11s lOd (buyers); October, 10s BJd (sellers); December, 10s 4Jd (sellers). The spot trade was slow, and prices were irregular. Australian, ex ship, 49s 6d. Flour was easier. Australian, ex store. 41s 6d to 425. Oats are firm. Peas and beans aro quietly steady. Sugar, granulated, 80s 7Jd. ' At the hides sales prices were steady, with a fair demand; quotations unchanged. At the rabbitskin sales 1900 bales were offered, and 1300 sold. Furriers’, sorts were in good demand, at full May prices. Best hatters’ sorts were very firm, hut inferiors declined 10 per cent., and closed weak. DAIRY PRODUCE. V The butter market is firm, but. high prices are somewhat checking the demand. New Zealand, choicest salted, 194 s to 1965; unsalted, 198 s to 200 s. Australian, salted 188 s to 190 s; unsalted, 194 s to 1965. : Danish, 208 s to 210 s. Cheese is firm; New Zealand, 110 s. Australian, practically cleared, 'nominally 104 s. METAL QUOTATIONS Australian and N.Z Cable Association. (Received July 24th. 11.5 p.m.) LONDON. July 23. Tko latest metal quotations on the Ijondon market are as follow: Copper; spot, £62 6s 3d; forward delivery, £o;)6s 3d per ron. Lead, snot, £35 3s 9d; forward delivery, £3l 11s 6d per ton. Spelter, spot, £35 5s 8d; forward dolivery, £35 5s per ton. Tin, spot, £263 8s 9d; forward delivery, .£266 Is 3d per ton Silver, standard. 32 l-16d per ounce; fine, 311 d per ounce.

LOCAL AGENTS’ REPORTS' DALGETY AND CO. Dalgety and Co., Ltd., report having received the following cablegram from their London honse, under date of the 23rd instant:— Wool sales closed animated, good competition except for inferior and faulty wools, which were irregular. Continental buyers are the principal operators. As compared with last sales closing rates greasy merino wools unchanged to lid lower, good merino sooured Id to 2d higher, scoured merinos of other descriptions unchanged to lsd lower, greasy halfbred, wools Id to ifd lower, greasy fine and medium crossbred® $d to Id lower, greasy coarse crossbred par to Id lower, nalfbred and fine crossbreds scoured Id to 2d higher, scoured crossbreds of other descriptions unchanged, slipe wool® unchanged to lid lower, crossbred lambs unchanged; 142,300 bales offered, sold 72,000 bales to Continent, 41,000 bales to Home trade, 2000 bales to America, bales carried forward, 65,000 bales have not been offered. The following is the range of prices:— Merino, good to super, 25d to 29d; low to , medium, 18d to 23jd. Halfbred, 56\s to 58's, good to super, 21$d to 25d; low to medium, 27d to 20Jd Halfbred, 56’s to 56*6, good to 6Uper, IBd to 21d; low to medium, 16d to 17$d. Tine crossbred, 48's ,to 50's, good to super, 16£d to l&Jd; low to medium, 14d to 16d. Crossbred, 40's to 44's, good to super, Ityd to 14£d; low. to medium, 12d to 13d. Coarse crossbred good to super, 13d to 14d; S6's to 40's, low to medium, lljd to 12$d. MURRAY, ROBERTS AND CO. Messrs Murray, Roberts and Company, Ltd., are in receipt of the following wool market cablegram from their London agents, dated 23rd instant closed with a fair tone. Principal buyers Continental; Bradford buyers doing almost nothing. Good clearance. Market has been very irregular throughout. Faulty wools have been greatly neglected. Compared with present London sales' opening rates, greasy merino, best descriptions, par to 5 per cent, decline; other descriptions declined 5 per cent. Greasy merino pieces declined 7£ per cent. Scoured merino declined 5 to 10 per cent. Faulty and inferior descriptions shew the greatest decline. Crossbred greasy comeback and fine declined 5 per cent. Crosbred greasy medium and coarse, best descriptions, advanced 5 per cent. Crossbred greasy, coarse to medium, other descriptions, par to 5 per cent, advance. Crossbred scoured and slips, market shows no- material change."' N.Z. LOAN AND MERCANTILE •' New Zealand Loan and Mercantile Agency Company, Ltd., have received the following cablegram from their London house under date 23rd instant" The sales closed with a fairly firm tone today. As compared with last sales' closing rates, prices are lower about par to 5 per cent, for medium merino, coarse greasy crossbred, scoured crossbred, fine greasy crossbred, and crossbred 6lipe. Prices are higher, about par to 5 per cent, for merino and crossbred lambs and greasy merino super. Prices are about the same for ecoured merino super. Prices are lower about 5 per cent, for inferior merino, and medium greasy crossbred. Competition on German and French account is active; Home trade inactive. Ihe prices realised for average to super grades of descriptions- as below were as follow:—Merino, super, 28d to 30d; merino, average, 20d to 25d; crossbred (56*8 to 58 s) 2QJd to 241 d, 50's to 56's 17d to 21d, 48 s to 50's 14id to 17d, 46's to 48's 13kl to* 15£d, 44's to 46's 13d to 15d, 40's to 44 s 12|d to 14d, 36's to 40's 12d to 13Jd. LEVIN ANd”cO. Messrs Levin and Co., Lad., have received the following cablegram from their London agents, dated July 23rd, 1925.: —"The...auctions ,closed, .here -.to-day with a good tone and keen competition. Continental buyers * operating freely, but American buyers are operating sparingly. As compared with the opening rates of this series, we quote:—Greasy merino/ best, no change; greasy merino, average, no change? 50's to 56's, no change; crossbreds, 48's to 50's, id per lb cheaper; crossbreds, 46's to 48's, id per lb cheaper; crossbreds, 44's to 46's, id per lb cheaper; crossbreds, 40's to 44's. id per lb cheaper; crossbreds, 36*s to 4(rs, id per lb cheaper. Slipe wools generally unchanged, .with the exception of halfbreus, which are Id per lb cheaper." frozenHat DALGETY AND CO. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date of the 23rd instant:— Lamb—New Zealand prime crossbred lamb Canterbury heavy 9fd, light 113 d; North Island heavy 9Jd, light Steady demand for New Zealand 'amb, market firm. Mutton —New Zealand prime crossbred mutton, Canterbury heavy 6Jd* light 7?dr North Island heavy 6&d, light 7£d. Demand for New Zealand mutton iuiis principally on light weights, market weak. Beef—New Zealand prime ox beef, kinds 5Jd, fores Demand for New Zealand beef ipoor owing tp warm weather. Prices nominal. Porlc Nominal' quotation, epot BJd, c.i.f. Bd. Very little doing owing to the intense heat. DALGETY AND CO. Dalgety and Co.,' Ltd., report having received the following cablegram front their London house, under date of 23id instant: Butter—Market steady. We quote New Zealand salted, 194 s (190 s); Danish, 202 s (1925): Australian salted, 190 s (186 s), unsalted 194 s <l9os). Cheese —Market quiet. New Zealand, white 109 s to 110 s (108 s to 109 s), coloured 108 s (108 s to 109 s) to 109 s: Canadian, t.ii., 110 s, spot 104® to 108 s (104 s to 108 s). - Last week’s quotations in parentheses. canterburymarkets AN EASING TENDENCY. Per Press Association. CHRISTCHURCH, July 21. Ihe easing tendency noted in micl-week report in the value of potatoes has developed. To-day's price is lower vhan a week ago by itt per ton, and the present f.o.b.s.i. quotations are £7 for prompt., and a few shillings more for August-San-tember delivery. The Waihora will to-morrow evening with over 12,000 sacks, and the Wingatui follows with Onmaru and Timaru potatoes early in the week, but will take no Lyttelton potatoes. Lagging had been restricted on the drier soils, but to-day’®, break will again *.ause a general cessation. The present prospects are not favourable for speedy resumption of deliveries, v Oats aro about the, dullest section of the trade. Buyeis aro exceedingly scarce, and any business transacted is on sn> easing basis. B Gartons have 'been s-cld ot 3s lid, and A's at 4s 4il per bushel, with no buyers at the latter figure. Canterbury A Algerians are going north in fair-*uzed quantities, and this class M.cms to be fully meeting the northern feed requirements. The destructive fire in one of the big grain stores at Invercargill early in tne month destroyed a large quantity of r«>rennial ryegrass, roughly about 6000 sacks, and practically all of the best g«*ade quality. Values have firmed pnrtly as a result of this, and sales have been ii-ide at 6s per bushel f.o.b.s.i. All *dher classes of seeds are keeping firm in value, but there is very little business doing. A shipment of wheat has arrived at Auckland from Australia, but the maritime strike hn® affected the arrival of any so far in the South Island, CUSTOMS REVENUE." The Customs revenue reccivod nt the port of Wellington yesterday aggregated <£10.019. S. George Nsflum and Coi, Customhouse quay. Wellington. Chief City Agents for Phoenix Assurance Co., Ltd.. 235, Lcmbton quay.—Advt.

SHEEPSKINS, HIDES AND TALLOW YESTERDAY’S SALES. ’The usual'fortnightly sale of sheepskins, hides and tallow was held yesterday, by all brokers at ,the ‘Dominion Farmers' Institute. There was a full attendance of exporters, tanners fellmongers and the local trade. Sheepskins. Competition was very keen and prices for skins suitable for export were fully $d per lb better than late rates. ' Other descriptions sold about on a par. Salties were in demand. Uides.—Average catalogues were submitted, medium and being eagerly competed for. Heavies id to id per lb down, ’mediums on a par, while lightweights were better by from par to id. Calf, kip and yearlings ruled unchanged. . , Tallow.—Good competition for shipping lots, the market showing a slight improvement; For a line of butchers' tallow 355, per cwt was secured. The following is the range of prices:—, Sheepskins.—Halfbred. 12id, fine crossbred, lujd to 13id; medium/coarse crossbred, 9Jd to lljd; short half wool, B}d to llld ; lambs, 7|d to 13d; dead and damaged .crossbred, ,7£d to ‘ 10£d; .inferior and badly damaged Id to 8d; pelts, 3d to damp, salted and green, 5s to 10s , : ' P® I*® 1 *®- salted, not-quoted; lambs, salted. 5s to 7# 9d. , Hides.—Ox, heavy, 701 b and over, 8d to 9id; ox, heavy, 59/691b, 8d to 91d; ox medium, 53/sSlb, GJd to Bid;‘. ox, light! 45/521b, Std.toi M; cut. slippv and inferior, 3id to 7Jd; cow, heavy, 531 b and over,.6fd to 7d; cow, medium, 45/521b, 6fd tf) 65d; cow, light, 83/441b, 6id to 71d; cut, slippy and inferior, 3d to 5Jd; bull, stag, not quoted; yearlings, 11/lOlb, sid to BJd; calf, superior, up to 101 b, not quoted '®}V mediura/good. up to lolb. Ild to lHd’ CBlf ’ damaged * U P to 101 b, 3d to . easks, 32s to 355; in tins, etc., 17s to 80s 6d. Shndries.--Horsehair, 20d to 23d. feildinTstock sale RISE IN EWES AND WETHERS. Per Press Associatln. A, ~ . FEILDING, July 21. At the Feilding sale to-day there was a heavy yarding of fat sheep, r.nd a medium yarding of stores. Prices showed a decided *se in fat ewes, but wether* and lambe sold at late rates. Any good ewes in-lamb, and good hoggets were siiil keenly competed for, other sorts soiling at late rates. Fat lambs—These realised 25s sd, 26s Id, 26s sd. and 26s XOd; ewes, 30s 6d, Gd ‘ 35s 6d. 36s 4d. 36s lid, 17s Cd, and 3<s 9d; wethers, 40s, 40s 6d, 465 - 4 d and 475; b.f., 38s 3d and 43s 3d; store ewes, 18s Cd and 20s: forward ewes, tCs. owes r.w.s.d. rams, 30s, 355, 36s sd. 38s. and 38s, and 38s Od; ditto Romney rams, 44s 4d; wether hoggets (good), 28s c d. 29s lOd, and 30s; ditto medium, 22s sd, 24s 3d, and 26s lOd: mixed, 27» 8d; ewe hoggets (good), 32s 2d. S2s 6d. and 545; forward wetheTS, 36s 4d and 36s (pass«d); b.f, lambs, 27s 6d; p.b. S.D. ehtes, 24 guineas; p.b. Romney ewes, 2i guineas (pnGcea). Cattle—The yarding consisted of a low pens of medium fat cattle, and a few pens of store cattle, and the dairy pens were filled with springing heifers and a few dairy cows. Most of the heifers sold m lines. Best Jersey springing heifers in lines made £7 5s and £7 7s 6d; medium 9 ual 'ty Jo , rs J>' “joss springing heifers. £5 6d and best dairy cows, £5 to £6 106; fat S:H. cows, £6 4e; forward emptv cows, £3 ss: vearling Jersey heifers, £2 5s and £3 lSs.

£ a. d. •£ s. d. N.Z. Govt. Loans— Inscribed Stock (1939) 97 0 0 Inscribed Stock (1938) 97 0 0 Inscribed Stock (1933) 5i p.c. Inscribed Stock — 101 5 0 (1927-1941) 98 15 0 6 p.c. Inscribed Stock (1931) 103 10 War Bonds (1988) 97 0 0 War Bonds (1930) P.O. Inscribed Stock 97 0 0 — P.O. Inscribed Stock 98 0 0 — (1927) 98 7 6 . P.O. Bonds (1927) 98 7 6 — Debentures— WelPton Racing Club 107 10 0 N.Z. Breweries (Bonds) Christchurch City -4J 1 2 5 ““ p.c. (1984) Bank*— 89 10 0 Australasia Commercial of Aus14 10 0 14 11 till 6 tralia (ord.) — 0 National of N.Z 6 11 0 6 12 6 New South Wales . 41 10 0 New Zealand — 2 15 9 Union of Australia ... +14 18 3 — Financial— National Mortgage ... N.Z. Guarantee Corp. 3 16 0 (ord.) N.Z. Guarantee Corp. 0 9 6 0 10 0 1 1 0 N.Z. Loan and Merc. (pref.) 77 10 0 — Wn. Dep« & Mort. ... Wright, Stephenson 0 9 6 (pref.) Insurance— 7" 0 17 6 3 18 fl 15 2 10 New Zealand 1 14 6 0 South British — 0 Standard 2 4 0 — Meat, Preserving— N.Z. Refrigerating (.£1) +0 19 0 N.Z. Kefrigerating (10s) — to 9 3 8 2 6 Wn. Meat Export (.£3 12S 6d) Transport— - . 1 7 6 Huddart-Parker (ord.) 2 4 3 2 4 9 Woollen— Wellington (ord.) e 5 0 Wellington (pref.) ...... 6 6 0 — Coal—, Waipa __ 1 2 9 Timber— Leylatm O'Brien 8 16 0 1 13 0 National 1 2 0 Breweries— 2 1 Manning and Co. ' 1 17 6 1 18 3 Miscellaneous— Burns, Bhilp and Co. .. 1 15 6 Colonial Sugar 52 0 0 Electrolytic Z i n o tl 11 N.Z. Drug (cont.) *0 8 0 Taranaki Oil Fields.?. Wairarapa „ Farmers 0 17 6 0 19 0 (JB5) 4 3 0 Wilson's Cement — 1 13 1 MiningMount Lyell 1 1 0 tCum ;div. •Premium. Sales on 'Change: N.Z. Breweries (bonds), JB1 2s 6d (two lots' Sales reported: Gear Meat Cc ., £2 2s 6d; Bank of N.S.W., £il 5s.