COMMERCIAL.

Otago Daily Times, Issue 19736, 12 March 1926, Page 8

COMMERCIAL.

DAIRY PRODUCE. Messrs Joseph Nathan and Co.’s Dunedin agent has received the following cablegram from London: Butter.—New Zealand, 170 s. The market is steady. The New Zealand Loan and Mercantile Agency Company (Ltd.) has received the following cablegram from its London house, under date 10th instant: — New Zealand Butter. —Choicest, 168 s to 170 s ; market firm. Exceptionally choice, 1725. Australian butter, IGGs. Danish butter, 186 s. Cheese, 9Ss to 100 s; market dull. AUSTRALIAN MARKETS. (Press Association—By Telegraph—Copyright.) SIDNEY, March 11. (Received March 11, at 11 p.m.) Wheal; Bagged, 4s lOd to ss, delivered at country sidings. No wheat, however, ia being offered for sale. Oats; Tasmanian Algerian, 6a; white, 6s. Maize; Local, Gs 6d; Queensland, 6s; South African, 6s. Potatoes: Tasmanian, £l4 10s to £l7; Victorian, £l4. Onions: New Zealand, £ls; Victorian, £l °‘ ADELAIDE, March 11. Wheat; Growers’ lots 5s 5d to 5s 6d; parcels nominally os 30)d to 5s lid. Oats, os to 3s 3d. LONDON WHEAT MARKET. (Press Association—Bv Telegraph—Copyright.) LONDON, March 10. (Received March 11, at 11.20 p.m.) Wheat cargoes are quiet and lower on the bearish biew of tbe Washington Bureau report; Sveaja-rl, 53s Gd; Lucietou, 52s 9d, Parcels are in small request and are weaker; ex Ulysses. 545; cx Hobson’s Bay, 52a 7)d; ex Poit Campbell, 52s 6d. Liverpool futures March (buyers), 10s 5Jd; July, ICs 7d per cental. —A. and N.Z. Cable. LONDON TALLOW SALES, (Press Association—Bj Pelegruph—Copyright.) LONDON, March 10. (Rceeived March 11, at 9 p.m.) At the tallow sales 861 casks were offered ami 443 were sold. Prices were unchanged. —A. and N.Z. Cable.

LONDON WOOL SALES. Press Association —By Telegraph—Copyright. LONDON, March. 10. (Received March 11, at 10 p.m.) At the wool sales 11.213 bales were offered and about 9000 sold. There was a good selection, of which the fine kinds met with good competition, with prices favouring sellers, but medium and inferior sorts wex-e rather irregular. Among medium scoured merinos the withdrawals were frequent.—A. and K.Z. Cable, (Received March 11, at 11.20 p.m.) At the wool sales there was a good selection of all classes and competition _ was general, the opening rates being maintained. New Zealand "bank house,” top 24)d, average 23)d. —A. and N.Z. Cable. Messrs Murray, Roberts, and Co. (Ltd.), are in receipt of a cablegram from their Xjoudon agents, dated Match 9, reading as under; The sales have opened with a good tone, large attendance of buyers, good competition, and all sections operating. Greasy merino, market firm. Scotlred merino and crossbred greasy, market shows no change. ... Crossbred greasy, inferior descriptions, in favour of buyers. Crossbred scoured, ■ market shows no change. Crossbred slipo, declined 5 per cent. BRADFORD WOOL MARKET. (Press Association—Bv Telegraph—Copyright.) LONDON, March 9. The Bradford market is extremely quirt, with practically no business. —A. and N.Z. Cable. FOREIGN EXCHANGE BATES. Press Association —By Telegraph—Copyright. LONDON, March 9. The exchange rates are as follows: Far. Mar. 4. Mar. S. Paris, fr. to £l 25.22) 130.80 134.50 Brussels, fr. to £1 25.224 106.6;, 107.00 Oslo, tr. to £1 18.159 22.97 22.74 Copenhagen, kr to £1 ... 18.159 18.,4 18.,4 Stockholm, kr. to £1 ... 18.169 18.13 18.12 Berlin, reichmkn. to £1... 20.43 20.41 20.41 Montreal, dol to £1 ... 4.863 4.885 4.88) New York, dol. to £1 ... 4.863 4.85 15-16 4.85) Rome, lire to £1 25.22) 121.15 121.12 Yokohama, st. to yen Calcutta, st. to rupee ... 24.00 18) 18 3-16 Hongkong, sk to tlol ... • 28) 28) Aiiisterrlam, poiM. to £1 12.107 12.14 12.11 Batavia, guilders to £1 12.107 12.10 12.03 »Governed by price of silver. —A. and N.Z. Cable. P. AND O. STOCK. A cablegram from London states that P. and O. deferred stock is quoted at £238. SOUND FINANCE. CHRISTCHURCH DRAINAGE BOARD DEBENTURES. FREE OF EXCHANGE. A satisfactory financial return and total freedom from worry are two of the advantages secured by investing in the Christchurch Drainage Board £200,000 Loan. Interest at the attractive rate of £5 15s per cent, per annum is paid by the board, free of exchange at any branch of the Bank of New Zealand within the Dominion, whilst the security comprises a special rate of one farthing in the f on the capital value of an area valued at £16,566,100 and lid in the £ on the capital value of an area valued at £7,167,696, comprising practically the whole of the City of Christchurch and Suburbs. It can easily he understood, therefore, why steady streams of subscriptions for this loan are flowing in from all parte of the Dominion. The term of the Loan is for 50 years from October 1, 1023, with the right of redemption by the Board of the whole or any portion after the expiration of 15 years. Application money will be received at the Office of the Board, 19S Hereford street, Christchurch, in cash, bank draft, or cheque. The brokerage of 10s per cent, will be paid to members of recognised stock exchanges, and also to banks and solicitors doing business in the Dominion in sales actually completed by them. Copies of the prospectus are obtainable from the Board direct or from any Branch of the Bank of New Zealand. — Advt.