COMMERCE AND FINANCE

Otago Daily Times, Issue 20644, 16 February 1929, Page 9

COMMERCE AND FINANCE

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. Business on the Stock Exchange has been fairly brisk during the past few days. Bank of Australasias have been in demand at £l4 16s, but sellers have not come forward. A transaction in Bank of New South Wales shares at £sl 15s has been reported, the market closing with a buyer offering £sl 5s and a sellers asking £52. The inquiry for Bank of New Zealands has also improved slightly, buyers latest offer being 62s Od. Sellers, however, have not responded. E.S. and A. Banks have been dealt in -at £8 18s Od, but buyers have not been offering of late.

There has been an easier demand for National Bank of New- Zealands, buyers latest offer being £7 Is, Sellers have not quoted. Union Banks have been in stronger demand, buyers offering £ls 8s 6d. Sellers, however, have not quoted below £ls 12s fid.

Business has been done in New Slealand Breweries shares at 58s, The market closed with a buyer at 57s 6d, and no sellers forward.

Staples Breweries have been inquired for at 42s 3d f| but without response by sellers. A transaction has been reported at 42s fid.

There has been a slightly easier demand for Timaru Breweries, buyers latest offer being Bs, while sellers qow require 8s 9d. For A.P.A. Insurances buyers have been prepared to give 9s, but sellers have been reticent

P. and O. Deferred Stocks have eased in demand, buyers latest offer being 60s Sellers have not agreed to accept less than 63a fid.

There has been an improvement in the demand for Dalgety and Co. shares, buyers now offering £ls 10s. A transaction has been recorded at £ls 11s 6d.

Business has been done in Nationa'l Mortgages at 90s, cum dividend-, the market closing with a seller at 91s 6d, and no buyers offering. Paid-up New Zealand Refrigeratings have been in demand at 15s 3d, sellers, however, requiring ninepcncc in advance of that figure. British Tobaccos have been on offer at 49s 6d, but buyers have not been prepared to give more than 48s 3d.

For ordinary Kaiapoi Woollens buyers have offered 14s, but sellers have refused to accept less than 14s 6d. Milburn Lime and Cements have been inquired for at 36s 3d, no sellers responding.

Regent Theatres have improved slightly in demand, buyers offering 225. Sellers have remained steady at 245. Preferred Electrolytic Zincs have been dealt in at 37s 3d and 37s 4d, the market closing with buyers offering 37s 3d and sellers requiring 37s sd. Mount Lyells have also been the subject of business, a parcel having changed hands at 42s 6d. Buyers closing offer has been 42s 3d, while sellers have asked 42s 9d. Government War Bonds hove been in good demand, but sellers have been reticent. . Sales reported: Bank of New Eoutb Wales, £sl 15s; Dalgety and Co„ £ls 11s 6d; National Mortgage, 90s, cum div. The are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of Australasia—-Buy £l4 l-6s. . Bank of New South Wales—Buy £sl ss. sel £52. Bank of New Zealand —Buy 62s 9d. Bank of New Zealand (D issue) —Buy 28s. ■ Commercial Bank—Buy 28s lOd, sel 29s Bd. Commercial Bank (rights)—Buy 8s 9d. National Bank of New Zeal., rt is. National Bank of Australasia—Buy £l9 4fl 6d. * National Bank of Australasia (cont.) Buy £9 12a, sel £9 14s 6d. Union Bank—Sel £ls 12s 6d. BREWERIES. N.Z. Breweries, Ltd.—Buy 57s 6d. N.Z. Breweries Debent.—Buy 26s 4d. Staples Brewery—Buy 42s 3d. Timarn Breweries—Buy Bs, sel 8s 9d. INSURANCE. National Insurance Co.—Buy 16s. A.PA.. Insurance Co.—Buy 9s. Standard Insurance Co.—Buy 63s 9d, SHIPPING. Howard Smith—Sel 245. Huddart, Parker (ord.) —Buy 48a, sel 48s 9d. , Huddart, Parker (pref.)—Buy 21s. P. and 0. Deferred Stock—Buy 60s, sel 63s 6d. S,S> Co ‘ (Pref.)—Buy 20s 6d, sel 20s lid. COAL. Kaitangata—Sel 8a dis. Westport Coal Co.—Buy 31s 9d. LOAN AND AGENCY. Dalgety and Co.—Buy £ls .Os. Goldsbrough, Mort—Buy 53s 6d. National Mortgage—Sel 91s 6d. N.Z. Loan and M. (ord.) —Buy £l2O, Perpetual Trustees—Buy 64s 6d. Trustees, Executors, and Agency—Buy Oos 6d. Wright, Stephenson (ord.)—Buy 24s 6,1 Wmght, Stephenson (pref.)—Buy 17s 6d, sel 18s 6d. MEAT PRESERVING. Canterbury Meat—Buy £9 2s 6d Bel 16s Refrigerating (paid)—Buy 15s 3d, N.Z. Refrigerating (cont.)—Buy 7s. MISCELLANEOUS. British Tobacco—Buy 48s 3d, sel 49s 6d. Bruce Woollen Co.—Buy 11s. Colonial Sugar—Sel £6l. Tw’Si’ (< or . —l® B 6d prem, D.I.C. (pref.)— Buy 21s. Dominion Investmo: Buy 235. Dominion Rubber —Buy 325. Donaghy’s Rope and Twine—Buy 335. Dunlop Rubber—Buy 26s 6d, sel 28s 6dEchpse Petrol—Buy 15s 3d Woollen (ord.)Buy 14s, sel 14s Kaiapoi Woollen (cont.)—Buy 4s Kaiapoi Woollen (pref).)—Buy I4s 6d Milburn Lime and Cement—Buy 36s 3d Mosgie] Woollen Co.—Buy a io s . sel ifa 6d. rUg C °- (£2 paid )~B«y 745, N.Z. Guarantee Corp.-Buy 8s sd. Bel sis Rubber (° rd )~Buy 275. BeS 6d alay EUbbor ( P rof ')—Buy 27. 9* a ; g ? P ail y Times— Buy 725, sel 78s. Smith .And Smith. (pref.)-~Bnv iRa Taranaki Oil-Buy 3s 6d. ‘ Regent Theatre— Buy 225, sei 245. MINING. Kawarau G.M. Co.—Buy 3d. Bel E 37s tr 6°d! tIC Zin ° (pref>) 37s 3d, Electrolytic Zinc (ord.)—g e l 1 Mount Lyell—Buy 42s 3d. sel 42s’ od. Broken Hill South—Buy 50s, sel 58s 6d Big Beach-Buy 6s Bd, sel 8s 9d. . Okanto—Sel 5d prem, Kildare —Buy 2s 4d, sel 3s Mahakipawa—Buy Is 2d, sel l a 5d WAR BONDS. 4i per cent. Bonds, 1938—Buy £99 is,, 4J per cent. Bonds, 1939—8uy £9O 15=' Per ° ent ‘ Inscribed > 1 Buy Eng Per cent. Inscribed, 1939—8uy £99 ’ ?iP e 1 r Soldiers’ Inscribed. 1933 Del £lOl 10s. per cent. Inscribed Bonds. 1927-41 Buy £9O. Si per cent. Bonds, 1936—8uy £lOl Si per cent. Inscribed, 1936—8uy £lOl,

NORTHERN EXCHANGES. (Per United Press Association.) The following business was done on 'Changes yesterday:— Auckland.—Sales; War Loin (1938), 4 per cent., £99.17s 6d; War Loan

LOCAL AND OVERSEAS MARKETS.

(1933), Si per cent., £lOl 10s; Union Bank of Australia. £ls Bs. £ls 8s; Queensland Insurance eSs; Auckland Gas, 24s 3d; Northern Steamship, 14s sd: WelWoollen, £7 5s 6d; Colonial Sugar, £b V* Hayward s Pictures, 21s; Tara* nah Oil, 4s 3d, 4s 4d; Union Oil, Soap. a «rS? , - e * Waihi Mining, 13s 9d. Vvellington,—Sales reported: 41 per cent. Government Stock (1938) £99 17s 6d; Australian Bank of Commerce, 355; Commercial Bank (two parcels), 29s 2d; Huddart, Parker 48s 3d; National Bank of New Zealand, £7 ss; Gear Meat Co., 445.

Christchurch.—-Sales: Bank of New Zealand, 635, 63s Id; Commercial Bank of Australia (rights), 8s lOd (three parcels); Queensland Insurance, 67s 6d; Christchurch Gas (10s pd.),-. 13s; New Zealand Breweries. 58s; Electro Zinc l pr f f - cum. div.), 37s 3d. Sales reported: National Bank of Australasia (£5 pd.). £9 14s Union Bank of Australia, £ls 7s 6d; Queensland Insurance, 68s; Hayward’s Pictures, 21s; British Tobacco, 49s Id.

DUNEDIN MARKETS. WHEAT; OATS, ETC. Little interest is being shown in the milling wheat market. Offerings are now commencing to increase, especially in Canterbury, but reports from there go to show that, apart from the lots already sold forward, most of the lines coming on the market are from members of the wheatgrowers’ pool. So far no sales of this wheat have been recorded, and millers are content in the meantime to week on their stocks. These, together "with the lines they have brought forward, will keep them going fqr some time. In view of the present position actual prices are not quotable. Progress reports state the yields are varying. In some cases they are exceptionally good, while in others they are below the average. The nominal quotation for Tuscan is 5s 9d, sacks -?xtra, on trucks, 6s for Hunters, and 6s 6d for Velvet.

Thrashing is now becoming general in the Central Otago district, and the quality of the wheat is exceptionally good and the yields are high. This wheat has mostly been sold forward, and, as a matter of fact, it is not expected that there will be much free wheat available in the South Otago district. With the carry over from last season there will be no shortage of wheat in the Dominion for the year. The fowl wheat market is quiet, with merchants working from hand to mouth. Values remain unchanged at 6s per bushel, sacks extra, ex store, for the best quality. Millers’ prices for flour, etc., are as follow:

Flour: 2001 b, £l6 15s; 100’s, £l7 15s; 50’s, £18; 25’s, £lB 10s. Bran, £7 per ton. Pollard, £8 10s.

Oatmeal, 25’s, £23; 200’s, £22. An odd line or two of the new season’s oats is being offered here, and in Canterbury the offerings of both Algerian and Garton oats have been increasing. Merchants are diffident about buy'ng owing to the poor consumptive demand, and farmers are inclined to hold now that .the market has eased. The highest price obtainable for A Gartona is 2s Bd, sacks extra, on trucks, with Algerians selling at lower money. There is a pressure to sell by merchants who are holding a few lines, and . they are reducing their quotations. During the past few days A Cartons have been quoted at 3s 4Jd, f 0.b., s.i., spread delivery, March to June. There does not appear to be any immediate prospect of an improvement in the market, as there is no export demand and, moreover, the demand for oats in New Zealand is falling away year by year. Consignments of chaff have been arriving very slowly, and merchants are now holding light -stocks. The demand from feeders is quiet. Values remain unaltered at £5 15s per ton, sacks extra, on crucks, for the best quality, and £6, ex store. It is pot expected that there will ba very much chaff available until harvesting operations are finished. Prices will then probably ease in swmpathy with the lower cost of oats.

The potato market continues quiet, with only a small inquiry from merchants, who are not buying extensively on account of some of the tubers being on the green side. Consignments are realising about. £6 per ton, sacks included, ex truck. The forward position for the earlier months of the market shows a slight weakening with sellers of Canterbury-grown as being £4 17s 6d, f.0.b., si.. Threshing of ryegrass is now general, and prices are irregular. There are .different ideas of value in the centres, and in Canterbury high prices have been paid to growers. Merchants in Dunedin are not prepared to pay above 4s per bushel, sacks extra, on trucks, for good clean _ ryegrass, but a higher price has been paid-in Canterbury. 'Merchants there can usually afford to pay higher prices for ryegrass, as they have the opportunity to dress their seed earlier, and thus secure tfye autumn demand from the North Island, here is no alteration in the prospective values for chewings fescue and dbgstail. It is expected that the crops of both of these varieties of seeds will be very heavy, and that lower values will rule than last year. Produce lines are quoted wholesale as follows: Chaff, £6 per ton, ex store; £5 15s per ton, sacks extra, ex truck. Potatoes: Taieri and Oamaru, £6 per ton. Eggs: Stamped, Is 8d; case, Is 7d. Dairy butter: Milled bulk. Is 4d; pats, Is 3d. Bacon, to Is Id per lb. ' Haras, Is 2d per lb; boneless, Is 4d. Honey: Bulk, 4|d to 5d per lb. Onions: Canterbury, 12s to 13s per cwt. FRUIT REPORT. Fair supplies of dessert apples arc reaching the market, mainly Gravensteins from Nelson. A few lots are also coming from Otago Central. Cox’s Orange pippins should be on the market in a few weeks’ time. Pears are in good supply, and prices are on the low side. Large supplies of outside-grown tomatoes are coming forward, but prices remain fairly firm. The season should be at its height in another week or so. Supplies are mostly coming from Christchurch. A few lots are arriving from Otago Central, and these meet a better demand than the Canterbury-grown. Plums have been in over supply, but choice samples have a ready sale. Greengages are coming in plentifully from Otago Central. The’Otago Central fruit is realising considerably higher values in the northern markets than what are obtainable in Dunedin. Apricots are getting scarce, and good prices are being realised. Some of the lines from the Roxburgh district are poorly coloured. The Alexandra-grown are, however, of excellent all-round quality All the apricots are meeting a good sale. Nectarines are arriving more freely, and prices are a little easier. The crop will not be a very heavy one A few lots of respberries are still reaching the markets, chiefly from the Pinehill district. The demand is not very brisk. Supplies of peaches have eased off. Freestones are now making their appearance. Growers can hold these much better than the early varieties, and supplies can, therefore, be regulated' to suit the market.

A shipment of American oranges is due on the market to-day. These will come to a bare market.

A shipment of Harotongan bananas was landed on the market during the week, ex the Wingatui. These came to a bare market and realised fairly satisfactory prices.

Outside-grown cucumbers are in good supply. Most of the lines are coming front Canterbury, Marrows are plentiful. French beans and green peas have a good inquiry. Supplies are still fairly plentiful.

Cabbages and cauliflowers are in short supply,- Choice lines have a good inquiry. Lettuce are in over-supply and are hard to quit.

Potatoes are in over-supply. Several lines have been dug too early, and are on the green side.

The wholesale prices are as follow: Apples: Gravensteins, 9s 6d to 11s 6d per case; Red Astrachans, 5s to 7s; inferior quality, 3s 6d to 4s; cookers, Ss 6d to 6s 6d,

Tomatoes: Christchurch hothouse, 4Jd to 6d for firsts; medium, to 4d; Christchurch outside grown, to 3d; Nelson. 3s 6d to 4s. local hothouse, 6d to Bd. Plums: Dessert, to cookers. Id. Greengages, lid to 34d per lb. Apricots: Choice, in crates, to 6d per lb; cases, from 4s 6d to 7s 6d. Nectarines, in crates, 3d to 5d per lb' cases, 5s to 6s.

Peaches: Choice, in crates, 3d to 4Jd per lb; half-cases, 3s 6d to 4s 6d. Pears: Dessert, 3s to 3s 6d per halfcase.

Raspberries: Local grown, to 5s per 121 b bucket.

Oranges; American navels, 45s per repacked case.

f^o™° nS ' 27s to 28s 6d per case

Green peas, to 4Jd per lb. New potatoes, 6s per cwt. French beans, to 6Jd per lb. Cabbages: Choice, 6s to 8s per sack: others, Ss to 4s.

Lettuce: Choice, to Is 6d per dozen: others unsaleable.

New ca rrots, up to Is per dozen bundles. Rhubarb, Is 6d per dozen bundles of lib each; loose, Id per lb. Beetroot, Is per dozen bunches. V egetable marrows, 5s to 6s per doken New season’s swedes, 2s 6d to 3s ner dump case. 1 TAR DISTILLATION CORPORATION. _ if. understood that an overseas Coal lar Distillation Corporation is extendin'* its operations to New Zealand and intends to operate Ss coal tar distillers throughout the Dominion. Mr Septimus Owen, of Dunedin, has been appointed general manager for New Zealand. LONDON METAL MARKET. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 15, (Received Feb. 15. at 10 p.m.) Copper: Spot, £7O 6s 3d; forward, £77 Is 3d. Electrolytic: Spot, £B3 10s; forward. £B4 10s. Wire bars, £B4 10s. Lead: Spot, £22 16s 3d; forward, £22 16s 3d. Spelter: Spot, £26 3s 9d; forward, £26 3s Od. Tiu: Spot, £224 6s 3d; forward, £225 8s 9d. Silver: Standard, 25Jd, 27 13-16 d per oz.—Australian Press Association. TALLOW MARKET, Messrs Dalgety and Co. have received the following cablegram from London;— At the London tallow sales 674 casks were offered and 64 per cent, were sold. On the average, prices are 6d per cwt higher, except for mutton tallow (in general), 'which is unchanged. LONDON MARKETS. Messrs Dalgety and Go. have" received the following cablegram from London:— Frozen Meat.—The market for New Zealand lamb is weaker, and the demand is poor owing to the cold weather. Mutton is weak, and the demand is poor. The market for New Zealand beef is firm, the demand being better owing to the cold weather. The market for Australian lamb is weak, and the demand is limited; mutton is quiet, and the demand is poor. Quotations are as follows for frozen ’meat:'—

New Zealand prime Canterbury lamb, 28/361b, lOd; North Island, 9id; New Zealand prime Canterbury lamb, 36/421b. 9jd; North Island, 9Jd; second quality, 9d; North Island, B£d; New Zealand prime Canterbury lamb, 42/501b, 9Jd; North Island, 9Jd. New Zealand prime Canterbury mutton, 48/561b,_7d; North Island, 6Jd; New Zealand prime Canterbury mutton. 6Jd; North Island, 6Jd; blew Zealand prime Canterbury mutton, 64/721b. sjd; North Island, s§d. New . Zealand prime Canterbury ewes, 48/641b, 4|d; North Island, 4Jcl. G.A.Q. Australian lamb, 28/363b, °fd; 36/421b, BJd; F.A.Q. Australian lamb, 28/361b, 8. Third Australian iamb 7i; G.A.Q. Australian mutton, 40/fiolb, 43d; F.A.Q. Australian mutton. 30/551b, 4Jd. >

Australian ewes, 4|. New Zealand prime ox_ beef hinds. sd; fores, 3Sd. Argentine chilled hinds, 6Jd; fores, New Zealand porkers, 80/1001b, Bd. Dairy Produce.—The butter market is slow, and the market for cheese ’ery dull. The total butter imports into the United Kingdom last month were 003,000 owt. . For the same period last year the imports were 527,000 cwt. Quotations are as follows for dairy produce:—Danish butter, 195 s to 1965; New Zealand finest, 178 s to 180 a; Australian finest unsalted, 182 s to 184 s; salted' 178 s to ,180 s; Australian G.A.Q., 174 s to 1765, New Zealand cheese, white, 88s; coloured, 925; Canadian cheese, white, 108 s to 112 s; coloured, 106 s to 110 s,

OAMARU MARKETS. (Special to Daily Times.} OAMARU, February 15, The expected movement in the grain market in Oamaru has not yet materialised so far as wheat is concerned. The millers are marking time, and the wheat pool is doing the same. Only a limited amount of business has been done in wheat during the week. A line or two of velvet have been sold at 6s 8d a bushel net, on trucks. Early in the week Hunters wheat was sold at 6s per bushel, but the price now offering is only 5s lOd, A few transactions have taken place in Tuscan at 5s 8d to 5s 9d per bushel net, on trucks.

The oat market is still very weak, and owners are not disposed to sell at the prices now offering. In Canterbury A grade Gartons are reported to be selling at from 2s 9d to 2s lOd per bushel, on trucks.

Barley has not yet made its appearance, and oaten sheaf chaff is slow of sale, the nominal value being still £4 5s per ton at country stations.

No business has been reported in either fowl wheat or potatoes. Cocksfoot grass seed has found buyers at from 6d to 7Jd per lb. The live stock market has shown a little activity, and forward deliveries are now being made on an extensive scale. Fat wethers have sold at 30s to 365, fat ewes from 21s to 245, and fat ewes at schedule prices. Fat and forward mixed-sex lambs at 24s to 265; two-tooth store wethers have realised 23s 9d, twotooth halfbred and crossbred ewes 325, four, six, and eight-tooth halfbred ewes 31s. and rape lambs 21s 6d to 27s 6d. In cattle the transactions have not been numerous. Prime cows have sold at from £ll to £l2, and good cows at from £7 to £9. while fat heifers have ranged from £7 to £9 10s. Dairy cows, coming to profit have realised from £8 to £lO, three-year-old store steers have sold at from £lO to £l2, and empty heifers at £6, The price of pigs has shown a decline. Slips have sold at 10s to 11s. Best weaners have not brought more than 8b 6d to 10s 6d, and medium wcaners 7s to Bs.

Messrs Fraser and Co., selling agents for the Otago and Oamaru Egg Circles, report as under:—Eggs, Is 7d to Is Bd. Butter: Separator pats. Is Id to Is 2d; bulk, Is 2d to Is 3d. Tallow; Market steady at 18s to 24s for best quality Pigs: Good bacon weights. 6id and Od. Overweights, 3d to 4d. Potatoes: Oamaru £6 to £6 10s per ton. Chaff: Prime oaten sheaf, £5 10s to £6 per ton, sacks ->*tra Whole fowl wheat. 6s 3d to 6s Od per bushel. Bulk honey, 4d per lb; 101 b tins, 4s 9d. Poultry: Supplies are mei'eas’ng. White Leghorn hens, 3s to ss; heavy breeds, 4s 6d to 5s 6d; cockerels., 3s to 8a; roosters. 3s to 4s; ducks. 3s .o Ss; ducklings, 5s to 7s 6d, all per pair furkeys: Hens, lOd to lid per lb. Gobb'ers, Is Id to Is IJd per lb, live weight We stock Star P. chick feed. Crosskey’s meat meal, leg rings Is ' per dozen (special quotes for quantities). Consignors please note that pigs and poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for the use of our clients.

CANTERBURY MARKETS. {Per United Press Association.) CHRISTCHURCH, February 15. 1 In practically all classes of produce there is an unsual quietness in business I for this time of the year. The fact that millers are well supplied with wheat, and that oats at the moment appear devoid ;of an outlet, is creating quite a ‘go slow ” atmosphere. Offers of wheat are coming in freely, but sales are comparatively few. The Wheat Board is rec*»iv--11l? sam Pl es > and some sales have been effected at what are understood to be satisfactory prices, in view of the general state of the market. Millers have made some purchases at 5s TJd, on trucks, and in a few cases at a halfpenny lower. Hunters range about 6s. Oats have further eased, and A Cartons have been sold at 3s 4d a bushel, f.0.b., s.i., for April-September, and B’s at 3s Id, representing a drop of a penny during the week. Algerian oats are not inquired for. A few sales' have taken place at 2s 3d and 2s 4d, on trucks. Chaff is quoted at £5 5s a ton. fo.b., s.i., for spread delivery. Partridge p<ras are included in the general circle of “ lifeless products. Nominal quotations are 3d to 5s 6d a bushel, on trucks. In the absence of inquiry from the North Island, there is little doing in the *o-’ks-toot market. Akaroa is quoted at “d to 8d a lb, and Plains at 6d to 7d. jhe maintenance of these prices is dependent on tlie demand that develops from the V or £j Perennial ryegrass ranges about 4s 6d a bushel, on truck, and Italian at 3s 6d to 3s Od. There has been a steady'ng of purchases from farmers in view of the absence of inquiry from the north, and the promise of a good yield of peiennial in Southland. Some white clover samples have been offered. Quotations are a lb, according to quality, lucre is no change to report in the potato market. Values remain at £4 17s 6d, f.0.b., s.i., or about £3 10s on trucks, tor early delivery. Farmers are shy sellers at these prices. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Company has received the following cablegram from London:— gutter.—New Zealand choicest salted. 182 s Cheese.—New Zealand white, 88s to 90s; New Zealand coloured, 925. The market is steady. The National Mortgage and Agency Company of New Zealand has received the following cablegram from London:— Butter. —The market is quiet, but steady. New Zealand finest sold at ISOs; New Zealand first grade at 178 s; Danish, from 192 s to 1945; Australian, at 180 s. Cheese. —The market is slow. New Zealand white, sold at 88s; New Zealand coloured, at 925; Canadian white, from 106 s to 108 s; Canadian coloured, 108 s to 110 s.

COMPANY REGISTERED. The list of companies that have been registered, as contained in the New Zealand Mercantile Gazette, includes the following:— Co-op. Agency Co., Ltd. Registered as a private company, December 24, 1928. Capital: £IOOO, into 1000 shares of £1 each. Subscribers: Dunedin, J. S Thomson 800; Port Chalmers,-J. H. Williams 200. Objects: To carry on the business of coal merchants, coke manufacturers, miners, smelters, engineers, general carriers, railway and forwarding -agents, warehousemen.

BALCLUTHA STOCK SALE. (From Our Own Correspondent.) ■ BALCLUTHA, February 15. The first of the weekly stock sales at the Corporation Yards to day did not attract so many buyers as at last fortnightly sale, and on top of that sheep export values had receded somewhat. Nevertheless a good sale resulted. There was a yarding of 540 fat sheep and lambs and 2900 stores. Fait lambs made 27s to 30s 9d (the last-named price beim* realised by a lin e sold on behalf of Mr M. Jackman); fat ewes up’ to 22s 6d; fat wethers to 31s 6d.

Store Sheep.—Mixed sex rape lambs, 22s 4d to 24s 3d; small lambs, 12s 3d to 15s; store wethers (two-tooth), 25s to 27s 9d; cull ewes, 6s to 9s. Cattle.—A small yarding. Fat heifers sold at £8 15s; empty cows, £7 10s; a pen of calves, £2 7s 6d; dairy cows sold to £-10 10s.

For the first time in a number of years in the yardman’s experience there were no pigs forward.

. BANK OF AUSTRALASIA. {United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 14. , Bank of Australasia: Premises accbunt £BO,OOO, carried forward £139,760. Year’s dividend, 14 per cent, tax free.—Australian Press Association. BRADFORD MARKET. (United Press Association.) - (By Electric Telegraph-—Copyright.) LONDON February 14. At Bradford merinos are easier, Crossbrecs are weak. Bustness is impossible except at contessi S-xtv-fours. 44Ad: 60s, 42d; 56’s, 32d; 50’s, 28d; 46’s, 23d; 40 s, 22d.—Australian Press Association. CALL MONEY RATE. (United Press Association.) (By Electric Telegraph—Copyright.) * NEW YORK, February 14, The call money rate of renewal market opened at 0$ per cent., th e highest, level being 6J, and the lowest 6J. The market closed at that figure.—Australian Press Association. COURTAULDS’ PROFITS. (United Press Association.) (By Electric Telegraph —Copyright.) LONDON. February 15, (Received Feb. 16, at 0.15 a.m.) .The net profits of Courtaulds, artificial stlk manufacturers, for 1928, were £5,171,996, —Australian Press Association. LOAN FOR AUSTRALIA. (United Press Association.! (By Electric Telegraph—Copyright.! SYDNEY February lr>J (Received Feb. 15. at 11.45 p.m.) The Commonwealth Government is floating another £7,000,000 loan for 10 years at 6.1 per cent. CHICAGO WHEAT MARKET. (United Press Association.) (By Electric Telegraph—Copyright ) NEW YORK. February 14. Chicago wheat; March, 128§ cents per bushel; May, 132 7 - July, 135.—Australian Press Association. WHEAT, OATS. ETC. (United Preaa Association.) (By Electric Telegraph—Copyright.). LONDON, February 14. Wheat: Cargoes, responding to American advices, advanced 3d. Buyers are inclined to pause. Th» r : ; an demand was checked by the advance in the Indian bank rate. Parcels are held for an advance of 3d, and trading is slow. Liverpool futures: March. 0s 3d; May, 9s s|d; July, 9s 7|d. The spot trade is quiet but firm. Australian, ex shin 49 s. Flour is firm. Australian, ex store, 3Gs 3d. Oats are quiet. Peas are easier. Beans are firm, —Australian Press Association.

MELBOURNE MARKETS. (United Press Association.) (By Electric Telegraph—Copyright.) MELBOURNE, February 15. Wheat, 4s lOd. Flour, £ll to £ll ss. Bran, £6 15s. Pollard, £6 10s. Oats, 2s lid to 3s. Barley.—English, 4s to 4s 3d. Maize, 4s lOd to 4s lid. , BUTTER AND CHEESE. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, February 14. Butter is selling quietly. Choicest ion ew Zealand nnd Australian, both ISOs; unsaltcd, 2s and 6s premium. Danish, 190 s. Cheese is dull. New Zealand white, SBs; coloured, 92s.—Australian Press Association.