COMMERCIAL.

Otago Daily Times, Issue 19500, 8 June 1925, Page 6

COMMERCIAL.

Daily Times Office, Saturday morning. Merchants have been notified of a reduction of 10s per ton in the price of sugar. The Waihemo, from Son Francisco, is due at‘Dunedin next week. She ie bringing consignments of Californian prunes and parcels of various brands of salmon. The Sussex arrived from Calcutta and Singapore during the week, and is discharging consignments of sago, tapioca Singapore pinapples, Indian lentils, and Indian tea. As a result of the Manuka being held pp a quantity of transhipments for Dunedin merchants have been delayed in Melbourne, and cannot come forward until the arrival ot the Karetu, which is due to reach this port in about three weeks. Included in the shipment are consignments of tea from Colombo, transhipped at Melbourne, BUTTER AND CHEESE. Messrs Nimmo and Blair are in receipt of the following cablegram from their London, agent, dated June 5: Cheese, 93e per cwt; market quiet. Butter, 170 s per cwt; market firm. PERPETUAL TRUSTEES, ESTATE, AND AGENCY COMPANY (LTD.). The directors state, in the forty-first annual report, that the amount brought forward was £4833, from which, have since been paid interim dividend, balance due on shares in the New Zealand and South. Seas Exhibition Company, and the company’s contribution to the staff benefit fund, leaving a balance of £2305. The profit for the year ended on April 30 was £6519, and the available balance therefore is £8824. The directors recommend that this ba dealt with as follows; —Payment of dividend for half-year at 15 per cent, per annum, £1312; depreciation of office furniture, £385; writing off goodwill and cost of alterations at Invercargill, £482; transfer to reserve fund, £3500; to be carried forward (subject to income tax for past year), £3144. SOUTHLAND AND OAMARU MARKET REPORTS. The weekly market reports of our Oamaru and Southland correspondents will bo found on page 2. FORT KEMBLA’S APPLES. GOOD PRICES REALISED. (Pm United Psebb Association.) WELLINGTON, June 6. The New Zealand apples taken by the Port Kembla to Montevideo realised good prices—namely, 21s 3d, c.i.f., for Delicious, and. 17s 6d for others, equivalent to 16a 7d and 12s 10d, f.0.b., Wellington, respectively. The shipment comprised 1550 oases in 000 l store, and it landed in excellent condition. The Fruitgrowers’ Federation has given an order for 400,000 Canadian hemlock cases for packing apples for export next ■ season. The bulk of them will go to Nelson. The price (one shilling per case) is threepence cheaper than New Zealand white pine, and the order represents a saving of nearly JrioOO on local quotations. CHICAGO WHEAT MARKET. Press Association—By Telegraph—Copyright. NEW YORK, Juno 6. (Received Juho 7, at 5.5 p.m.) Chicago wheat quotations; July 1694, September 166, December 167? cents per bushel. —A. and N.Z. Cable. TAIAROA’S SHIPMENT. Press Association—By Telegraph—Copyright. LONDON, June 6. (Received June 7, at 6.5 p.m.) The apple market is very firm. The Taiaroa'a Now Zealand Cleopatras realised 21s to 225; Dunns, 15s 6d to 19s; Jonathans, 16a to 18s; Delicious, 14s to 17s; Londons, 15s to 17s.—A. and N.Z Cable. VICTORIAN LOAN PROBABLE. Press Association—By Telegraph—Copyright LONDON, June 6. (Received June 6, at 5.5 p.m.) It is understood that Victoria is contemplating a loan of £4,000,009, but it is improbable that there will be any Australian flotations before September.—A. and N.Z. Cable. LONDON METAL MARKET. Press Association—By Telegraph—Copyright. LONDON, June 4. Copper, £59 8s 9d and £6O 18s 9d. Lead, £33 15s and £33 10s. Spelter, £34 and £33 15s. Tin, £251 7s 6d and £262 7s 6d. Silver; Standard, Slid per ox; fine, 34d. — A. and N.Z. Cable. LONDON WOOL SALES. LIST FOR JULY SERIES. Press Association—By Telegraph—Copyright. LONDON, June 5. The list for the July wool sales has closed. Included in the now arrivals are 22,000 bales of Australian, 3970 bales of New Zealand, and 1500 bales from the Cape. One hundred and eight thousand bales were held over, but probably a largo proportion of these will not be offered. Bradford tops are extremely dull.—A. and N-Z. Cable. LONDON MARKET REPORT. Press Association—By Telegraph—Copyright. LONDON, June 4. Wheat cargoes are quiet and unchanged. Parcels opened dull and weaker. Later there was more interest as a result of improved Winnipeg advices. Liverpool futures: July 12a 4id per cwt, October 11a Bgd. The spot trade is dull. Flour is easier. Australian, ex store, 45s 6d and 465. Oats; Steady. Small business passing. A Cartons, 32s and 345. Peas: Blue, inactive. Tasmanian, 330 s and 3505; New Zealand, 300 s; Maples, slightly improved business. Tasmanian, 70s and 75a; New Zealand, 60s and 70s. Beans: New Zealand, 4'sa and 4475. Sugar unchanged.—A. and N.Z. Cable. LONDON, June 6. (Received Juno 7, at 5.5 p.m.) Sheep: Argentine, light, 7d, Lambs; Canterbury, medium, 11 Jd; heavy, IOJd. Argentine, medium, 9jd. Chilled beef: Argentine hinds, 63; Uruguayan hinds, 6id. Other meats are unchanged. Cotton; Liverpool quotation, American middling upland, July delivery, 12.67 d per lb. Rubber; Fine hard Para, 27Jd; plantation, first latex crepe 34Jd; smoked and ribbed sheet. ■ 39d per lb. Jute: Indian native first marks, May-Juno shipment, £49 10s ; new crop, August shipment, £42 12s 6d per ton. New Zealand hemp: July-August shipment, £35 10s per ton. Copra; Bagged South Sea, May June shipment, £29 5a per ton. Linseed oil, £46 per ton—equal to 3s BJd per gallon. Turpentine. 69s 3d per cwt—equal to 5s 2Jd per gallon. Antimony: English. £69 15s; foreign. £6O 10s per ton. Wheat cargoes are steady on better inquiry and bullish American news, but quotations at present show scarcely any change. Parcels are firm, with Hanitobas 3d dearer. Liverpool futures are quoted—July 12s 7gd October 12a 04d per cental.—A. and A.Z. Cable.

DAIRY PR ODD IMS Press Association —By Telegraph—Copyright. LONDON, June 4. Butter is quiet. Prices slightly firmer, as a result of strikes in Denmark restricting supplies from that country. New Zealand choicest salted, 170 s and 1725; exceptional, 1745; Australian, 162 s and 161 s; unsalted, about 6s to 8s premium; Danish, 188 s and 100 s. Cheese is alow. New Zealand, 935; —ustralian, 89s and 90s. — A. and N.Z. Cable. BANK OP ENGLAND EETURNS. Pres* Association—By Telegraph—Copyright. LONDON, June 2. The Bank of England return affords the following comparison with the return ior the previous week: —

'foreign exchange rates Press Association—By Telegraph—Copyright. LONDON, June 5. The exchange rates are as follow: —

Hongkong, at* to dob • § -'a • Varies with price of silver. v—A. and N.Z. Cable. GOVEHKUENT SBCtmiTIES. Press Association—By Telegraph—Copyright. LONDON. June 4. The following are the latest quotations lor Goveminent securities compared with the prices rultng last week:— _ . «■ w 1. trhln t(Jn«V

May 27. June 3. Com and bullion £154,87!),000 £154,056,000 Reserves 28,258,000 27,333,000 Notes in' circulation 148,183,000 148,831,000 Government deposits ... 15.773,000 11,604,000 Other deposits 106,716|000 114,110,000 Government securities ... 37,037,000 42,907,000 Discounts and advances 75,043,000 73,110,000 Proportion ol reserve to liabilities ... ... ... 33.07 21.79 Short loans 33 33 Throe months' bills 4 7-1C 4*

Par. June 2. June 5. Paris, fr. to £1 25.23J 08.30 00.15 Brussels, Jr. to £1 ... 25.224 100.00 101.45 Oslo, kr. in £l 18.15 20.03 28.04 Copenhagen, kr. to £1 18.15 25.95 25.80 Stockholm, kr. to £1 ... 18.15 18.10 18.16 Berlin, rciohmkn. to £1 10.80 20.43 20.42 Montreal, dol. to £1 4.805 4.85 4.854 New York, dol. to £1 4.86J 4.86 4.86 1-18 Rome, lire to £1 25.22 m 121 j Amsterdam, guil. to £1 12.107 13.102 12.004 Batavia, guilders to £.1 12.107 12.101 12.061 Yokohama, at. to yen 24.58 204 201 Calcutta, st. to rupee 10 to £ 24.00 * 18 075 18 274

Last Week. This Week. Imp. Conscls, 2J p.c £56 10 0 £56 0 0 War loan, S p.o'., 1929-17 ... 100 0 0 00 17 6 War loan, 34 p.c., 1925-28 ... 96 2 6 96 5 0 Conversion loan, p.c 76 15 0 78 5 0 C'wealth 6 p.c., 1931-41 ... 104 0 0 103 15 C’wcalt.h 5J p.c., 1022*27 ... 00 17 6 09 15 N.Z. G p.c., 1936-51 ... ... 110 5 0 109 7 6 N.Z. 4 p.c., 1929 04 17 6 05 0 N.Z. 3J p.c., 1940 84 17 7 *83 10 0 N.Z. 3 p.c., 1943 76 0 0 75 7 6 N.K.W. 6i p.c., 1930-40 ... 105 17 6 105 17 6 N.S.W. 8 p.c., 1930-40 ... 102 7 6 102 1 6 N.S.W. 5J p.c., 1922-23 ... 100 0 0 100 0 0 N.S.W. 4 p.c., 1933 ... ... * 02 5 0 - *90 i 6 N.S.W. 3J p.c., 1930-60 ... 81 17 6 81 10 0 N.S.W. 3 p.o., 1935 .. ... 78 7 6 •77 0 0 Vic. ,64 p.c., lfflO-40 102 0 0 101 2 G Vic. 3j p.c., 1921-26 99 10 0 *98 0 0 Viv. 3 p.c,, 1020-40 72 7 6 •71 5 0 Vic. 34 p.c., 1920-49 79 0 0 77 17 6 Q’land 6 p.c., 1930-40 105 0 0 105 0 0 Q’land 3J p.c., 1930 91 17 6 •00 10 0 Q'land 3 p.o., 1922-47 ... 70 17 6 •70 0 0 S.A. 6J p.c., 1930-40 105 17 6 105 10 0 S.A. 34 p.c., 1939 84 0 0 •82 f> 0 8.A. 3 p.o. 1916, or alter 63 0 0 •61 0 0 W.A. B p.c., 1930-40 104 0 0 •101 15 0 W.A. 34 p.c., 1920-35 87 7 6 87 5 0 W.A. 3 p.o.. 1915-35 82 0 0 82 0 0 Tas. 84 p.o., 1930-40 106 0 0 106 0 0 las. 34' p.c, 1920-40 . ... 83 15 0 •81 15 0 Tas, 3 p.c., 1020-40 77 0 0 7B 0 0 • cx dividend.