THE WORLD OF COMMERCE

New Zealand Times, Volume LIII, Issue 12392, 11 March 1926, Page 8

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE YESTERDAY’S QUOTATIONS (3.15 p.m.) Call.) Yesterday's closing premiums of investment and mining stock, as advised by tho Wellington Stock Exchange, are as follow :

TRANSACTIONS ELSEWHERE Per Press Association. * AUCKLAND, March 10. Sales on 'Change.—National Bank, £6 14s 9d; Taranaki Oil, IQs; Wilson's Cement, 36s 9d, 375; Kawarau, 6s; New Zealand Breweries, 25s lid. Sales reported.—Union Bank, £l4i 18s; 4J per cent. War Loan (1930), £97; 4£ per cent. Inscribed*War Loan (1938), £96 2s 6d; National Insurance, £7B ss; New Zealand Insurance, £3B ss; Auckland Gas, 22s sd; Sanford, Ltd., 19s 6d. CHRISTCHURCH, March 10. Sales reported.-—New Zealand Government 5£ per cent. Inscribed (1933), £99 15s; National Bank of New Zealand, £6 14s 6d, £6 14s 9d. Sales on 'Change.—New Zealand Breweries 10 per cent. Bonds, 25s 9d; Electro Zinc (pref.), 355. DUNEDIN, March 10. Sales on ’Change.—Wilson’s Cement, 36s 6d; Kawarau, 6s. Sales reported. —Staples Brewery, 37s 6d; South British Insurance, 56s 3d.

LONDON WOOL SALES UPWARD TENDENCY OF PRICES

Australian and N.Z. Cable Association. 'Received March 10, 11 p.mv) LONDON, March 9. There was a large attendance of all sections of the Trade at the wool sales. The surprising feature was the support given to medium crossbreds and all merinos by the French ffnd German buyers. There was also a good home traae demand. There was an excellent selection of all combing sorts, which were firm on February closing rates, with a tendency in the seller’s favour. Short, faulty scoureds were more xiifficult to sell and were occasionally withdrawn, but prices were not declined. Amongst the crossbreds there was a good selection all round and competition at late rates was fully maintained. Continentals competed keenly for a somewhat inferior selection. Scoureds and slipes declined 5 pei cent, compared with February. Lambs* were in good demand, and merinos tended in the seller’s favour. Shabbier merinos and all crossbreds were unchanged. New Zealand prices: Tarata, 15Ad to 15d; M.A.E., 17§d to 16d. “GOOD "COMPETITION” Messrs Levin nnd Cn.. Ltd., have received the following cable from their Lon don agents, dated Murch 9th, 1926: “The auctions opened here to-day witn a largo attendance of Home ana Continental buyers. Good competition from Bradford and the Continent. Compared with the closing rates of last sales, avc quote:—Greasy merino, best Id per lb dearer, average Id per lb dearer; halfbreds and crossbreds, unchanged; fint* slipes, Id per lb cheaper, coarse slipes, unchanged; scocrossbreds, to Id per lb cheaper; soured merino, Id per lb cheaper.

MURRAY, ROBERTS CABLE. Messrs Murray, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated 9th instant: —’'Soles have opened with a good tone; large attendance of buyers; good competition; all sections operating. Greasy merino, market firm; scoured merino, market shows no change; crossbred greasy, market shows no change; inferior descriptions, in favour of buyers; crossbred! scoured, market shows no change; crossbred, slipe, declined 5 per cent/’ WRIGHT, STEPHENSON AND CO. Wright, Stephenson and Co/s London house report on the London wool sale held yesterday as follows: —"Wool sales opened, average attendance of buyers, competition animated. Continental and Bradford buyers chief operators. Selec* tion good.. Greasy fine halfbred 50/56’s, ordinary topmaking wools, yielding 64 per cent, greasy auction price 17|d; three-qunrterbrea 48/50’s. yielding 71 per cent.. 16*d; fine crossbred, 46/48V yielding 73 per cent, 15£d; medium crossbred, 44/46’s, yielding 74 per cent., 14Jd; crossbred. 40/44’s, yielding 74 per cent., 14d; scoured prices, par; sliped prices, 5 per cent. lower; prices par Australian merino/* . WAIRARAPA FARMERS’ CO-OP. The Wairararm Farmers’ Co-operative Association, Ltd., are in receipt of the following cablegram from their London agents, under date March 9th :—"Wool sales opened to-day ami were well attended bv Home. Continental and American buyers. Fine* medium and coarso crossbred show no quotable change com-

pared with the closing rates of previous sale.”

N.Z. FARMERS' CO-OP. The New Zealand Farmers’ Co-op. Dis* tributing Co., Ltd., have received the following cable from their London office, dated 9th instant: —"Wool sales opened to-day. Prices, as compared with last London series, are:—Merinos, jiar to 5 per cent, up; crossbreds, unchanged: slipe, 5 per cent. down. Demand gene ral.” SYDNEY FIXTURE. By Telegraph.—Press Assn. —Copyright (Received March 10. 11.20 p.m.) SYDNEY, March 10. At the. wool sales there Is keen com. petition and a strengthened demand for medium fleece wools and good skirtings. The market showed no change from the previous sales of the week. Greasy merino sold at up to 27$d. PRICE OF BUTTER By Telegraoh.- Press \ssn. —Copyright. (Received Majrch 10. 9.45 p.m.) SYDNEY, March 10. The wholesale price of butter has increased by 4s 8d to lßos 8d per hundredweight. JOSEPH NATHAN AND CO. Messrs Joseph Nathan'' and Co., Ltd., have received the following cable from their London honse, dated March 9th, 1926:—"New Zealand butter, 168 s per cwt; market steady. New Zealand cheese, no change.” WHOLESALE PRODUCE PRICES Laery and Co., Ltd., report wholesale values as 'follow :—Mixed fowl feed, 7s 6d per bushel, sacks in; linseed meal (Moose brand), 16s; linseed nuts (Moose brand), 14s; meat meal, for poultry, 13s per cwt: oyster shell grit or pipi shell grit, 6s per 1001 b; oats, ipachine-dressed seed Algerians 6s 6d. farmers’ dressed seed Algerians ss, crushed 5s 6d, Duns 5s 6d to 6s 6d; Gartons 4s 9d to 5s 2d per bushel, sacks in; shelled oats, for chickens 6s per bushel, sacks in; partridge peas, 7s 6d ; per bushel; feed peas, 7s per bushel, sacks in; wheat, milling, 8s 6d to 8s 9d per bushel, sacks in; eggs, first grade new laid 2s lOd, storekeepers’ 2s 6cl per dozen, preserved 2s; butter, farmers’ separator and dairy Is Id to Is 4d per lb; fowls, W.hite Leghorns 5s to 5s 6d. Black Orpingtons and similar varieties 7s 6d to 10s per pair; turkeys, Is Id to Is 4d per lb; ducks, 7s 6d to 10s, large white, 10s to 13s per pair; fungus 8d to 9d per lb; dressed pork, 60’s to 90V 7d to 8d per lb, sucking pigs 8d to 9d per lb; sucrosine, £l2 15s; molass meal, £ll per ton; Blenheim chaff, »ton lots, £lO 5s per ton, scycks in; rock salt, 6s 6d per bag; molasses; in casks, 40s a cask, in cwt cases 8s 6d per case; mutton birds in casks of 500, 7d per bird; bran, j-ton lots or over, £lO per ton; pollard, 4-ton lots or over, £ll per ton.

BURNSIDE MARKET . MUTTON DOWN, BEEF UP. Per Press'Association. DUNEDIN, March 10. At Burnside to-day, yardings of all classes of stock were small. Sheep prices were down again, but values of prime bullocks increased considerably. Fat cattle—A yarding of 184, principally of indifferent quality, very few prime cattle being included in the entry. Anything good met with a demand at a decided advance. Prime ox beef sold at from 37s fid to 40s per 1001 b, prime heifers to 32s 6d, and cows and lighter heifers 22s fid to 255. Prime bullocks made from £ll 5s to £l7 10s, heiferß from £8 to £9 10s, cows from £6 5s to £8 ss.

Sheep—An entry of 2527. TJio decreased yarding contained a number of good quality wethers and a large proportion of poor quality ewes. Wethers sold at Is 6d less than last week, while ewes depreciated by fully 2s 6d. Prime handy-weights wetner mutton sold on a basis of 5d per lb; extra heavy prime wethers to 4Jd; prime ewes to 4d,' and old ewes 3id. Prime heavy wethers made from 35s to 41s, prime from 32s to 355, medium from 27s to 325; light-weight from 22s to 275; extra good ewes realised from £1 to £1 ss; light and unfinished from 12s.

Lambs—A yarding of about 550. The great majority of the animals were unfinished. Extra prime sold at from 30s to 33s fid, prime at from 26s to 30s, medium at from 23s 6d; light aird unfinished from 19s to ,21s. Lamb- sold at per pound at from 8d to 9d. Store cattle—An entry of 206, comprised mostly of cows and heifers of fair quality. There were practically no steers in ttye yarding. Butchers were taking well-conditioned cattle at rates about £1 6s 8d and higher than last week’s.

Pigs—A yarding of 135 fats ai d 80 stores. Porkers were a 'little inner, and baconers sold at last sale’s prices. Baconers were worth from 8d to Sjd, and porkers Bid to 9d.

' SOUTHERNWOOt SALE j For Press Association. DUNEDIN, March 10. The third wool sate of tho season opened on Tuesday evening, and continued to-day. The total offering by tho associated brokers totalled 26,872 hales. There was a full bench of buyers, Bradford, America, France and Germany bemg .represented. The bidding throughout the series was generally animated, although at intervals it was noticeable as the sale progressed that competition became a little erratic. The quality of the wool for a late season sale was fairly good, but the quantity of wools of outstanding merit was small compared with the January sale. Prices showed a general increase of a full penny upon the better qualities, and for medium quality a halfpenny to a penny represents the appreciation. Competition for piec-s wns generally good, but it is doubtful if they appreciated to any great extent compared with last sales rates. The bulk of the wool was purchased on account of Bradford, but Continental buyers were operating freely for wools suitable for their requirements. America purchased a fair quantity of better and light conditioned wools, which is characteristic of their requirements. Merino, extra super, 20d to 21£d; super, 17jd to 19Jd; average, laid to 17d; inferior, 13jd to 144 d; fine half-bred-extra super, 20d to 21 Jd ; averajwi, 16d to 18Jd; inferior, 13Jd to led; medium halfbred super, 18Jd, 17Jd to 19d; average, 14id to 17d ; inferior, 12)cl to 14d ; coarso halfbred super, average, 13)d to lojd; inferior, lid to 12$d; Corriedale, super, average, 15d to 17jd; inferior, 13d to 14)d; fine crossbred, extra super, super, 15d to 16)d: average, 13|d to 15Jd; inferior, lid to 12)d; medium crossbred, extra super, super, lid to lo)d; average, llid to 13d; inferior, 9id to 10Jd; coarse crossbred, super, to 13id; average, IOJd to 12d; inferior, 9d to 10id; bellies and pieces, merino, good to super, 12d to 16.U1; low to medium, Old to 12d; halfbred, good to super, 13d to 16)cl; low to medium. 9d to 12id; crossbred, good to super' BJd to 13d; low to medium, fid to 7)<1; erutellings, medium to good. 7|d to 9id; inferior and seedy, 3d to 6Jd; locks, halfbred and merino. 6d to 9)d; crossbred, s)d to 6id. CUSTOMS REVENUE . The -Customs revenue■ received at the Sri3o6°’ yesterday aggregated

Buyers. Sellers. £ s. d. £ 6. d. N.Z. Govt. Loans— Inscribed Stock (1938) 96 0 0 96 5 0 Inscribed Stock (1927) 96 10 0 — Inscribed Stock (19-11) 96 10 0 — Inscribed Stock (1930) — 98 10 0 War Bonds (Isas') 96 0 0 96 5 0 War Bonds (1930) — 97 0 0 War Bonds (1933') 99 10 0 P.O. Inscribed Stock (19291 — 97 15 0 P.O. Bonds (1927) 97 17 6 — Debentures— Wellington Gas 100 0 0 — N.Z. Breweries (bonds) 1 5 10 1 6 0 Banks— Australasia 14-6 0» Commercial .of Aus- * tralia (ord.) 1 9 6 — New South Wales 43 12 6 — New Zealand e 19 0 — Union of Australia ... 14 17 6 — Financial— Abraham & Williams (ord.) 4 6 0 N.Zi. Guarantee Corp. (ord.. 1 8s) 0 9 2 0 9 6 N.Z: Guarantee Corp. (pref.) 1 1 6 — N Z. and River Plate i i 9 — Insurance— National — 3 19 0 New Zealand 1 17 9 — South British 2 15 3 — Meat Preserving— N.Z. Refrigerating (JS1) • — 0 18 6 N.Z, Refrigerating (10s) — 0 9 0 Gear — 1 19 9 Wn. Meat Export (,£5) 0 12 6 — Transport— Union Steam (pref.) ... 1 0 0 — Woollen— Wellington (pref.) 5 190 — Coal— Westpcrt — 1 14 3 Westport - Stockton (pref;) — 0 12 9 W nipa — 0 17 u Timber— * Kauri 1 12 9 1 14 0 Leyland O’Brien 2 2 0 2 3 9 Breweries— Manning and Co 2 2 6 2 3 6 Staples and Co — 1 17 6 N.Z. Breweries 2 16 0 2 16 9 Miscellaneous— Colonial Sugar 53 0 0 — Electrolytic Zinc (prfef) — 1 15 6 Howard Smith . 1 16 0 National Electric — 0 19 9 Newton King (pref) ... — 0 17 0 N.Z. Drug *3 7 6 Taranaki Oil Fields ... 0 9 9 Wairarapa Farm ers* (pref.) — 0 17 2 Wellington Cordage ... — *0 18 3 Wilson's Cement 1 17 6 N.Z. Farmers* Fertilizer 4 13 0 — Mining— Kawarau 0 5 11 — *Cum div. Sales reported.—N.Z, Guarantee Corp. (ord, 8s), 9s 2d.