COMMERCE AND FINANCE

Otago Daily Times, Issue 21197, 1 December 1930, Page 5

COMMERCE AND FINANCE

i THE SHARE MARKET. ‘DUNEDIN STOCK EXCHANGE. ' There was a sale of New Zealand Breweries on • the - Dunedin Stock- Exchange on Saturday, the figure ■ realised being 435. There was a buyer of these , shares later at 42s Bd, but sellers would not accept less than 445. An offer of. 19a 3d for preference Huddard, Parkers found sellers firm at 20s, Buyers of British Tobaccos offered 30s 6d, but sellers were asking 335. New' Zealand Fanners Fertilisers were inquired for at 15s, no seller coming forward; Okaritos continued in demand at 5s sd, sellers asking 5s fld. Sale: New Zealand Breweries, 435. The following are Saturday’s buying and selling quotations, which are subject to the usual brokerage;— BANKING. ' Bank of N.S. Wales—Sel £32. Bank of New Zealand—Sell 55s 6d. Bank—j-Sell 16s lid. E.S. and A. Bank—Sel £5 ss. National Bank of New Zealand; —Sel £5 12s 6d (cum dir.). ■ National Bank of Australia—Sel. £6 6s. INSURANCE. National Insurance Co.—Buy 14s. N.Z. Insurance Co. —Sel 435. shipping; Huddart, Parker (ord.)—Sel 265. Huddart, Parker (pref.)—Buy 19s 3d, ■el 20s. P. and 0. Deferred Stock —Sel 455. U.S.S. Co. (pref.)—Buy 20s. ' ' ■ COAL. • Kaitangata—Buy 2s 3d dis., sel par. ’ Westport Coal Co.—Sel 27s 6d. »LOAN ’AND AGENCY. Dalgety and Co.—Sel £8 3s 6d. Goldsbrough, Mort—Sel 21s 9d. Ex. and Agency—Buy 595. ■ Wright, Stephenson (ord.) —Sel 18s 9d. ■ , MEAT PRESERVING. N.Z. Refrigerating' (paid)—Buy 8s 6d,\ ■el 9s 9d. N.Z. Refrigerating (cent.) —Buy 2s fid, sel 3s lid. MISCELLANEOUS. Auckland Amusement Park (Ord..) —• Buy Is, sel 3s. British Tobacco —Buy 30a 6d, sel 335. Brown, Ewing (pref.)—Sel 20s fid. Bruce Woollen Co. (ord.) —Buy 10s. Crystal Ice Go.—Buy 21s. D.I.C. (pref.)—Buy 20s. •Dominion Rubber—Sel 14s. Donaghy’s Rope and Twine—Buy 33s fid, Kaiapoi Woollen (pref.)—Sel. 15s fid. Milburn Lime and Cement—Buy 29s fid, sel 30s fid. Mosgiel Woollen Co.—Buy £6 .10s. M'Leod Bros.—Buy £l9. . National Electric—Buy 9s. N.Z. Drug Co.—Buy 575, sel 60s. N.Z. Express (ord.)—Sel 13s. N.Z. Farmers’ Fertiliser—Buy 15s. N.Z. Paper Mills ’(ord.)—Buy 18s, •el 19s. Christchurch Gas—Sel 265. ? ■ i BREWERIES. N.Z. Breweries, Ltd.—Buy 42s fid, sel 445. N.Z. Breweries Debent.—Buy 21s. Dunedin Brewery—Sel 215. ; - \ ' ■ MINING. . Electrolytic Zinc (pref.)—Buy 175. ; Mount Kildare —Buy, Bd, sel Is. ■ Okarito—Buy 5s sd, sel ss^9d. Cornish Pt.—Sel 3d. v ..

LOCAL AND OVERSEAS MARKETS.

King Solomon—Buy 6d, sel lOd. WAR BONDS. 44 per cent. Bonds (1938) —Sel £IOO. 44 per cent. Bonds (1930)~rSel £IOO. 54 per cent. Soldiers’ Bonds (1933) Buy £99 ss. per cent. Inscribed (1938) —Sel £99 17s fid. 44 per cent. Inscribed (1939) —Sel £.99" 17s 6d. 5J per cent. Inscribed Bonds (1941) Sel £96. 54 per cent. Bonds (1036) —Buy £99 ss. NORTHERN EXCHANGES. (Per United Press , Association.) The following business was recorded on ’Changes on Saturday:— Auckland.—Sales: South British Insurance, 55s 9d; Pukemiro Collieries, 40s. Wellington.—Sales reported: Staples and Co., £2; Electrolytic Zinc (pref.), 17s 6d. NEW ZEALAND GOVERNMENT BILLS. PRIVATELY PLACED IN LONDON. (United Press Association.) (By Electric Telegraph—Copyright.) ,LONDON, November 29. (Rece' /'Nov. 30, at 6.5 p.m.) . New Zealand privately placed £600,000 Government bills, maturing on March 14, at a rate of 2 3-16 per cent discount, which is only slightly above the rate at which Treasury bills are allotted to-day. SOUTHLAND MARKETS. • (From Our Own Correspondent.) INVERCARGILL, November 30. Oats. —In so far as local, holders are concerned, the continued bad weather has had some influence. Little, if any, more than 50 per cent, of the oats crop has yet been sown down, and on that account it is quite conceivable that oats will be better property a little later on. Anything sown down will he.on the light side, and the farmers’ conditions being unsuitable, the yield of oats wilfbe of inferior quality.. Although northern buyers have still further slightly decreased their offers, the market here is firm at 3s Bd, f.0.b., s.i., for .A grade, and 3s 7d for B’s, virtually only to .Folders of any moment. The weather now appears to have taken up, but whether or not the farmers propose to sow down oats or use those areas for swedes or rape yet remains to be proved, and undoubtedly this will have somS effect on future markets. Ryegrass.:—There are still numerous inquiries from northern centres, and actual' business is being done at from 6s Od to 7s 6d per bushel, f.0.b., Bluff, the Fatter price being for 301 b seed of high germination; Stocks in merchants* hands are almost negligible, and little further business can be done.

Crested Dogstail.—A certain amount of business is being done with northern' houses at prices ranging from 7Jd to 8d per lb, in. accordance with appearance, .germination, and purity. I am unable to .hear. jof..'any business having been effected from overseas; at this period of the year such orders can hardly be looked for, as operations generally begin a little prior'to the end of March. Stock. —The stock market is still fairly quiet, with very little business being done apart from, the weekly sales of fat stock for local requirements. Fat cattle continue to come forward in fairly regular numbers, the quality of which, taken all over, is. good, and values are firm at last week’s quotations. The fat sheep market is fairly well supplied with both wethers and ewes; quite a number of shorn sheep are now offering, and prices remain much on a par with recent reports.. The store sheep market is.quiet, with very little business being done, feed being very scarce having a tendency to restrict competition for this class of stock. Store cattle continue to sell well .at prices probably slightly easier than a few weeks back.

Fat Cattle.—Extra prime heavy bullocks, £l9; prime heavy, '£l4.los to £l6; medium, £ll 10s to £l2 10s; prime heavy heifers, £l2 to £l4; medium,'£B to £9 10s; vealers, to £2; runners, to £7.

Fat Sheep.—Prime, heavy wethers, 28s to 80s; medium, 24s to 35s 6d; prime heavy ewes, 24s to 265; medium, 18s 6d to 20a 6d; prime heavy lambs, 26s 6d; medium, 18s 6d to 20s. .

Store Sheep.—Wether hoggets, AOs 6d to 12s 6d; ewe hoggets, 17s to 20s; twotooth wethers, 14s 6d to 17s; young ewes and lambs, 10s, 6d to 12s Od; aged ewes and lambs, 6s to 10s, according to qualify.

Store Cattle. —Three and four-year bullocks, £lO to £ll 10stwo-year, £7 10s to £9; yearling, £3 10s to £5 ids. MERCHANDISE MARKET. Some * merchants are still without stocks of new season’s bulb dates. To relieve the position a.small shipment of last season’s dates has been brought from Sydney. New season’s packet dates have, however, come to hand. A parcel of Californian basket brand muscatels has arrived in good condition. A second shipment of Malaga muscatels has also come forward.

Kirkpatricks have advised merchants that they are completely sold out of K canned tomatoes.

A pereel of Brooke’s Australian ginger has just reached the market. Prices are unchanged:

The quality of the Smyrna figs this season is exceptionally fine; bags, layers and protobens opening up in excellent order. Owing to. the shortage of shipments of figs, following on the fires in two overseas steamers which last season were on their way to Sydney, the local market had become bare of supplies. New 1 season’s crystallised and drained cherries are also to hand. Prices rule higher on account of the increased duty. A further parcel of Australian canned apricots, peaches and pears has reached the market. This will probably be the last shipment prior to the new season's arrivals about April or May. Among the merchandise lines which arrived during the week were Windsor stored salt, Siam rice, Australian rice, Rosella chutney, peanuts (shelled and unshelled), and Ardath cigarettes, tens, twenties, fifties and hundreds. Considerable inconvenience was caused local merchants last week through the wet weather preventing the unloading from the Waikouaiti of cargo which included new season’s Australian fruits. The vessel went on north with the cargo but has now returned to Dunedin to complete discharge. The parcel of Grecian currants which came to hand has all been disposed of by the consignees. - Further supplies will not, be to hand until about the middle of January. A line of canary seed is on the Rotorua. This will come to a bare market. • Jordan almonds are short in the wholesale market. Further supplies should be to hand in a few days. New season’s China walnut pieces have now arrived. These are in excellent condition and are meeting a ready sale.

FRUIT AND PRODUCE WORLD. Reilly’s report selling;— Ranuncula, 4s. Section honey, 10a, 12s; bulk, slow, sale, sd, 5Jd; 101 b tins, 6s. Spring cabbage, 2s to dozen. Cauliflower, 10s to 15s sack. Swedes, Bs. Marrows, 24s cwt. Parsnips, 15s. Carrots, 4s 6d. Lettuce, 2s 6d to 6s dozen; small, fid to Is 6d. Asparagus, 6s, 8s dozen; Outram, 12s, 15s. Eggs: E.C.P.M. Is 2s, Is 3d. Mutton birds, Bs. Butter: Pats, Is; milled, bulk, lOd. Lard, 7d. Bacon: Choice, Is 3d. Peanuts, sd. Walnuts: Choice, Bd, 9d. Cheese: Medium, 74d, 8d; loaf, lOd, Tea: Orange Pekoe, 2s 6d. . Potatoes, £4 to £5 per ton. Onions: Canadians, 22s Gd; Melbourne New Globes, 12s. Tomatoes: Local, Is 9d, 25.; Christchurch,. Is Bd, Is lOd; seconds, Is 3d, Is 7d. Strawberries, 2s 3d, 2s 9d. Cherries, Is 6d, 2s sd. New season’s potatoes: Locals, 54d, Cd; Pukfekohe, IJd. Green peas, sd, 64d. Rhubarb, 14d, 2d. Gooseberries, 4d, 54d. Apples: Delicious, 10s, 15s; small, 6s, 8s; Stumers, Bs, 12s 6<L; cooking, 6s, 8s 0d; -Canadian Jonathans and Grimes, 21s. Pears: Winter Coles, 4d, 6d; Nelis, 4d, 5Jd. Beeswax, Is 7d. Horsehair, Is 3d. Bacon pigs: Prime, 84d; porkers, 9d; odd weights, 4d, 74d. Valencias, 14s, 18s. American grapes; Red Emperors, 28s-6d. Mission Lemons: 50s; New Zealand, 20s: Australian, 255. Grape fruit, 445. Passions: Australian, 25sNew Zealand “ Socro,” large, 28a; quarters, 12s. Pineapples: Choice Queens, to 30s. Bananas; Ripe, 30s. Special Pippa grit, 8s; oyster grit, Bs. Tallow, 12s 6d cwt. Woodwool, 28s bale. Fruit wraps, 3s 3d ream. Champion egg craftes, I7s 6d. Pure Lucca oil, 4s quart bottles. Rockland garden inanure: 121 b bags; trial bags, Is 6d per bag (special quotations for lewt and scwt lots). Vallo Giraffe lime sulphur: Cases 4gal, 2s 6d; barrels, 2s gallon. Black leaf “40”: 101 b tins, 545; 2IF tins, 15s; 41b, 5s 3d. Semesan: 51b, 555; 41b, 7s; 2oz, 2s 3d. C.M.W. knapsack sprayer: Improved type, £5. Strawberry crates: 6s each; punnets, local, 60s; Jubilee, 65s per 1000. Raspberry crates: 3s 6d each; buckets, 48s per dozen. Wheat, 6s 3d, 7s. Partridge peas, 4s to 6s, • Oats: A Gartons, 3s 9d; B, 3s Od. Pcameal, 16s. Crushed ■barley, 10s sack of 1501 b. Ricemeal, 10s 9d sack. Crushed oats, 12s 6d sack of 1101 b. Meatmeal, 17s 6d. Oatmeal, 251 b bags, 0s Od. Bran, £7. Pollard, £7 10s. Oatsheaf chaff, £5 10s. Clover hay, £6. Lucerne, £6. 10s. Straw: Wheaten, 60s. Palmer’s chick food: 41b, 101 b, 251 b, 501 b, 1001 b, and • 2001 b bags. Poultry: 106 hens at 3s 6d to 8s lOd; 28 chickens, 3d, 8s 8d; 3 pigeons, 2s; 48 dressed poultry, 6s (all at per pair). •REILLY’S CENTRAL PRODUCE MART, LTD., Moray place, Dunedin. COMPANIES REGISTERED. The Mercantile Gazette notifies the registration of the following companies: Haig, Frederick H., Ltd.—Registered as,a private company November 10,1930. Capital: £IOOO, into 1000 shares of £1 each. Subscribers; Dunedin—F. H. Haig 999, Catherine Haig 1, Objects: Saddlers and vendors of fancy goods, wireless, sets, and to acquire the business known as “ Chapman and Haig.” Savoy Midget Golf Company, Ltd.Registered as a private company November 11, 1930, Capital: £BOO, into 800 shares of-£l each. Subscribers: • Dunediil—W. S. Vaughan 325, A. A. Paape 225, J. M. Dickson 100, J, A, Thompson 100, P. Barling 50, Objects: Midget golf course proprietors. Oettli Gramophone Parlours, Ltd. Registered as a private company November 13, 1930. Capital: £IOOO, into 1000 shares of £1 each. Subscribers: Dunedin—H.‘ C. Oettli 800, E. E. Oettli 200. Objects: Manufacturers and dealers in musical instruments and wireless. Stewart, Ltd.—Registered as a private company November 19, 1930. Capital: £IO,OOO, into £IO,OOO shares of £1 each. Subscribers: Milton—A. E. Stewart 6000, J. A. Stewart 5000. Objects: Milliners, tailors, etc., storekeepers, merchants, traders, refreshment room proprietors. LONDON METAL MARKET. (United Press Association.) (By Electric Telegraph—Copyright.) November 27. Followlns are the official Quotations In tbe metal market:—*

DAIRY PRODUCE. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., LondonßutterWeak, 98s to 104 s; unsalted, 124 s to 130 s; Danish, 130 sto 1325. Cheese— Quiet; white, 63s to 645; coloured, 59s to 625. CUSTOMS RETURNS. - The Customs returns for November, 1930, compared with those of last November, are as follow: Nov., 1930. Xov., 1929. S s. d. £ s. d. Customs duty .. 47,718 11 1 78,037 3 2 Beer duty .. 20,812 7 1 21,397 610 Tyre tax .... 2,011 14 0 2.091 12 0 Petrol tax .. ..11,776 6 4 5,926 11 4 LONDON WOOL SALES. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, November 28. At the wool sales 7749 bales were offered, including 2337 from New Zealand. About 4070 bales were sold. There was a steady denjand, The opening rates were fully maintained. New Zealand greasy crossbred “ Gwavas ” brought B|d and Cd. Messrs Murray, Roberts, and Co,, Ltd., have received the following wool market cablegram from. London continue with a good tone; competition general and improved; crossbred greasy market shows a hardening tendency; compared with closing rates last London sales, crossbred greasy fine declined 10 to 15 per cent. - LAMB EXPORT PRICES. SHARP DROP ANNOUNCED. (Special to Daily Times.) AUCKLAND, November 30. A sharp cut in exporters’ prices for lamb is announced for the December shipments. For consignments made in November steamers exporters have been paying the equivalent of per lb on the hooks for prime lamb under 361 b, and in isolated cases a shade more. The top price under the new schedule is 6d, the lowest offered for lamb for many Years.

Ton. Copper, spot .. , Fall 6/7% Copper, forward .. m u 3 Fall 6/7% Electrolytic, spot .. 51 0 0 Pall 20/Electrolytic, forward .. S3 0 0 Else 10/Wire bare Else 20/Lead, spot .. .. Else 1/3 Lead forward .. . Else 1/3 Spelter, spot .. . Else 6/Spelter, forward . .. 14 16 10% Fall. 5/7% Tin. epot Else 2/0 Tin, forward .. Else 10/Oz. Silver, fine * .. . .. .1/4 9-10 Else l-16d Silver, standard • • 1/5% Else 1-XCtl