COMMERCE AND FINANCE

Otago Daily Times, Issue 21409, 10 August 1931, Page 12

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE There was a sale of Okaritos on the Dunedin Stock Exchange on Saturday at 0s lOd, and another parcel changed hands at 9s 9d. The latter figure was the best offer at the close of the market, but sellers would not do further business at less than 9s lid. A sale of King Solomons was reported at 2s fid, and further offers of the same figure found sel* lers firm at 2s 6d. Westport Coals continued in demand at 23s 3d, no seller coming forward. Buyers of Milburn Limes were offering 265, but sellers would not accept business at less than 30s. An offer of 22s 3d for Auckland Gas shares' failed to attract a seller. Golden Points were inquired for at Is 3d, the best selling quotation being Is fid. There was little demand for Government loans. Sales. —Okarito, 0g lOd, 9s 9d. Sale Reported.—King Solomon, 2s fid. The following are Saturday’s buying and selling quotations, which are subject to the usual brokerage;— BANKING. Bank of Australasia—Sel £9. Bank of New South Wales —Buy £24. Bank of New Zealand —Sol 48g 6d. Bank of New Zealand (long “D”) — Buy 25a 6d. Commercial Bank—Buy 13s, sel ISs 6d. E. S. and A. Bank—Se] 80s. National Bank of New Zealand—Sel 8 Is. Union Bank —Sel fG 10s. INSURANCE. National Insurance Co. —Sel I3a. New Zealand Insurance Co.—Sel 40a 3d. Standard Insurance Co.—Sel 455. SHIPPING. Huddart, Parker (pref.)—Sel 18s 3d. P. and 0. Deferred Stock—Buy 235. Union Steam Ship Co. (pref.)—Buy 19s lOd. COAL. v Kaitangata—Sel 2s 3d dis. Westport Coal Co.—Buy 23s 3d. LOAN AND AGENCY. National Mortgage—Sel 40s. National Mortgage (»“ B " issue) —Sel 30s. Perpetual Trustees—Buy 50s. Trustees, Ex. and Agency—Buy 58a. Wright, Stephenson ford,)— Sel 16s fld. MEAT PRESERVING, New Zealand Refrigerating (eont.)— Buy 3s Id, sel 3s 6d. MISCELLANEOUS. D.I.C. (pref.)—Buy 10s fid. Eclipse Petrol—Sel 10s. Milburn Lime and Cement—Buy 265, sel 30s. Mosgiel Woollen Co. —Buy £6 Bs, M'Leod Bros. —Buy £l9 10s. New Zealand Drug Co.—Buy 50s 3d, sel 52s 6d. New Zealand Milk Products (debs.)— Buy 20s. New Zealand Paper Mills (ord.) —Buy 17s 6d. Otago Daily Times —Sel fils. Woolworths—Buy 21s. Wilsons (N.Z.) Cement —Buy 355. GAS. Auckland—Buy 22s 3d. Christchurch—Buy 24s 6d. BREWERIES.

New Zealand Breweries, Ltd.—Buy 20s 6d.

New Zealand Breweries Debent.—Buy 215., New Zealand Breweries Stock—Buy 21s.

MINING. Wajhi—Buy 15s, sel' 15s od. Waihi Grand Junction —Sell 4s 2d, Mount Lyell—Sel 17s 3d. Mahakipawa—Buy 7d. Kildare—Buy 9id, sel Is. Okarito—-Buy 9s 9d, sel 9s lid. Paddy’s Point—Buy 3s Hd, sel 4s 2d. Cornish Point (paid)—Buy 4d. Golden Progress—Sel 28?. King Solomon—Buy 2s sd, eel 2s 6d. Golden Point-!—Buy Is 2d, sel Is sd, Moturoa Oil—Buy 4s, sel 6s. WAR BONDS. 4J per cent. Bonds, 1938—Buy £99 ss. 4i per cent. Bonds, 1939—8uy £99 ss. NORTHERN EXCHANGES (Per United Press Association.) The following business was done on ’Changes on Saturday:— Auckland.—Sales: Government Bonds (1933), 6J per cent., £O9 15s; goutb British Insurance, 60s 9d; New Zealand Breweries, 30s; Waihi, 15s 7d. Wellington.—Sales reported: Okarito Gold Mining, 10s (late Friday); Now Zealand Breweries, £1 9s 6d. Christchurch. Sales: Commercial Bank of Australia (pref,), £S Bs, £5 7s; New Zealand Breweries, 30s: Okarito, 9s. 9d; Golden Point (Is paid), Is 2a (3). Sales reported: Union Bank of Australia (late sale Friday), £8 7s. DAIRY PRODUCE The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association. Ltd., London: —Butter: Depressed; 108 s to Ills; Danish, Il4s to 116 s. Cheese: Steady; white, 60s to 61s; coloured, 02s to 635. PRICE OF PETROL Advice received by the Vacuum Oil Company states that the price of petrol will be reduced by Id per gallon as from to-day. FRUIT AND PRODUCE WORLD Reillys report selling:—Narcissi: Cream, 2s, 6s per dozen; Sol de Or, ss, 9s. .Freesias, 4s, 6s. Violets: Large, 2s, 3s 6d. Section honey, 12s;' bulk, sjd; 10lb tins, 6s 9d, 7s; 6!b tins, 3s 6d: Jib pats, Cabbage. 4s to 5s sack. Cauliflower: Choice, 9s, 14s; medium, 4s to 6s sack. Marrows, 16s cwt. Pumpkins, 12s cwt. Swedes, 2a 0d cwt. Carrots, 6s. Beet, Is 4d, Lettuce; Choico, 2s 6d to 4a dozen. Eggs; R.C.P.M., Is 6d, la 7d: preserved, Is 3d. Mutton birds, 6s 6d. Butter pats, 10Jd; milled bulk, lid. Lard, 6d. Bacon: Choice, lOd. Peanuts, 3d, Walnuts, Bd. Cheese: Medium, 5Jd. 6d; loaf, 7d. Tea; Orange Pekoe, 2s 3d. Victorian onions, 9a. Tomatoes: Timaru, lOd, Is sd. Potatoes: Choice tables, £3 to £4. Selected seed, from 4s to 22a cwt. Apples: Jonathans, Choice, 6s 6d, 7s, small, 3s, ss; other varieties, 4s, 6s; Stunners, choice, Bs, 10s 6d; small 3s 6d, ss; cookers, 6s, 6s 6d; Delicious, 9s to 10a 6d; small, 4s, 6s. Pears: Winter Coles, half eases, 6s; Winter Nells, half cases, ss; cooking, 2id', Beeswax, la 4d. Horsehair, Is. Porker and bacon pigs, SJd, 6|d. Australian navels, 12s to 15s, according to size. Poormans, 9s, 10s 6d. Australian lemons, 13s, 16s. Australian grapefruit, 10s 6d. Passions: Australian, 18s. Mandarins, 10s, 14s. Pines, 15a, 18s. Bananas; Choice Samoans, ripe, 20s. Oyster grit, Bs. Tallow, Bs, Woodwool, 28s. Fruit wraps. 3s 3d ream Champion egg crates, 16s. Vallo Giraffe lime sulphur, cases 4 gallons, 2s 3d; barrels, l e 10d gallon. Black Leaf “40’’: 101 b tins, 525; 51b tins, 275; 21b tins, 14s; lib tins, 7s 6d; Jib, ss. Semesnn and Granosnn; 51b, 555; Jib, 7s; 2oz, 2s 3d. C.M.W. Knapsack sprayer: Improved type, £5. Bucket pumps, 22s 6d. Wheat, 4s, 5b 6d, Partridge peas, ss. Oats; “A ” Cartons, 2s 6d; “ B,” 2s 3d. Peameal, 10s. Crushed oats, 12s sack of 1101 b. Ricemeal, 10a. Bran, .£5 10s. Pollard, £6. Straw: Wheaten, 60s. Oatsheaf chaff, £4 6s. Firewood blocks, 2s 6d bag delivered. Poultry: 22 cockerels at 4s 6d to 8s 6d, 26 ducks 6s 2d, 8s 6d. 6 pullets 3s 6d, 9s 6d; all at “per pair”; 4 turkeys at 9d to 9Jd per lb.

REILLY’S CENTRAL PRODUCE MART, LTD., Moray place, Dunedin.

LOCAL AND OVERSEAS MARKETS.

SOUTHLAND MARKETS (From Our Own Correspondent.) INVERCARGILL, August 8. During the week a fair amount of business has been done w'ith northern houses in A grade Gartons, which are now reduced to further dimensions. Sales have been made at from 2s 9d, free oi commission, to 2s lOd, f.0.b., s.i., for A grade prompt delivery. Current quotations for B’s are 2s 7Jd; there has, too, been a considerable turnover in so-called undergrades at prices ranging from 2« 6Jd to 2s Bd, the latter being on the basis of the newly-established number one feed. For a line weighing between 431 b and 441 b it is extremely doubtful if there is available for northern centres anything in excess of. 1000 sacks of A grade, taking, into consideration the quantity which merchants require to retain for seed purposes. In many instances, however, what in established grades would be termed undergrade are being reserved for seed purposes, the oats being of high quality, but a trifle below the colour demanded under the grading system. At prices being paid to growers business with northern centres in chaff ie impossible. Prices to firms are £3 per ton on trucks, growers’ sidings, for prime quality, sacks supplied by merchants; lower quality down to £2 15a. ' Seeds, up to the time of writing, have been well nigh inactive, and nominal values only can be quoted. Created dogetail, machine-dressed seed, suitable for export, at 7Jd per lb; machine-dressed ryegrass. 25-201 b seed, 5s 3d; 27-28 lb, 3s 6d. Anything in excess of that weight 3e 9d. These prices are based on offers, of seed through northern brokers. It is anticipated that there will be some movement in this market with the advent of spring. The stock market for the past week" has been very quiet, with small yardings in all sections. Fat cattle are selling-better, the market showing a rise due ro offerings being much emaller than requirements, Fat sheep are also selling well, values to-day being jusf on 10s up on those recorded a few weeks back. The store sheep market is life'ess, little or no business being done. Fat Cattle.—Prime heavy bullocks, £9 10s to £11; medium do, £7,10s to £8 10s; prime heavy heifers; £7 to £9 10s; lighter do, £4 10s to £5 I0e; prime heavy cowe, £8 to £10; medium do, £5 10s to £7. Fat Sheep.—Prime heavy wethers, 22s 6d to 255; medium do. 18s to. 20s; lighter do, 15s to 16s; prime heavy ewes, 18s to 20s; medium do, J4s to 16s; lighter do, 10s to 12s. Store Sheep.—Wether Inmbe, 6e to 8s; ewe lambs, 12s to 14?; tjvo-tooth ewes, 14s to 16s; four and six-tooth do, 10s to 12s; failing-mouthed ewes, 9s to 10s. Store Cattle, —Three and four-year ewes, £6 to £7; two-year do, £4 10s to £3 10sj yearling, £1 10s to £2 lOe. MERCHANDISE MARKET On account, of the primage, duty on Mildura Currants, sultanas, etc.—the primage being based on the consumptive value in Australia —the prices for these commodities have been advanced by Id per lb. Californian dried fruits have also advanced in price. Icing and caster sugar has been advanced $d per lb. - Some manufacturers have advanced the price of jelliee by Is .per gross. The National Tobacco Company has advised distributors of the new prices for Riverhead, Cavendish, and No. 10 and No 3 tobaccos, The increase represents Is 9d per lb on the 2oz tins and le 2d per lb on the loose tobaccp. Edgeworth and Richmond tobaccos are now quoted at Iss 3d and 12s f)d per lb respectively, > Zigzag cigarette papers are quoted at 10s per box. * 4 The prices of English stout and ale, quarts, pints, and nips, have been revised on account of the increased duty. An increase has taken place in the landed cost of Australian grown rice. The wholesale market is practically bare of sago and tapioca. Small supplies are being received from Australia, but it will be about September 12 before full supplies arrive by the direct steamer Narbada from Singapore. Californian prunes and Thompson’s seedless raisins are showing a higher.cost to land. j The prices for new season’s walnut meat are row named. They are higher than the quotations last year. Merchants /are still short of supplies of pieces. - Pepeodent tooth paste has been reduced in price,

K and Oak pears, in the smaller esses, show a reduction in price. The Australian, Dried Fruits Control Board advises that supplies of sultanas are practically exhausted, but that limited supplies of currants are still available. ' ■■■•; The Wingatui and the Waimarino are expected this week with supplied of eucrar. The Tainui, due on Thursday,V is bringing Egyptian lentils, Morton's goods, Adams s furniture polish, English saltpetre, etc. AMERICAN MONEY MARKET (United Press Association.) (By Electric Telegraph—Copyright.) NEW YORK. August 7. Cell money rate of renewal was.lj per cent, all day.

LONDON MARKETS

(United Press Association.)

(By Electric Telegraph—Copyright.) LONDON, August 8. (Received Aug. 9, at 7 pun.) Frozen Meat.—Australian sheep—First quality crossbreds and/or merino wethers, 401 b to fislb, 3|d; second quality, 301 b to 551 b, 3Jd; ewes, 301 b to 551 b, 3£d. New Zealand lambs—Selected North Island brands, including downs, 381 b and under, 6|d. . Argentine Chilled Beef. —Ox fores, 1601 b to 2201 b, 2|d; ox hinds, 1601 b to 2201 b, 7£d. The others are unchanged, Friday’s closing prices are as follow: Cotton. —September, 4.21 d per lb, Rubber.—Para, 4Jd; plantation smoked, 2Jd. Jute. —New crop, August-September, £ls 2a Od. . ■ .... Hemp.—July-Septeraber, nominally £2O. Copra.—July-August, South Sea, £ll 10s; plantation, Rabaul, £ll sg. Linseed oil, £l6. Turpentine, 475. LONDON METAL MARKET, i (United Press Association.) ' ■. (By Electric Telegraph—Copyright.) , LONDON, August T. (Received August 9, at 8.5 p.m.) . / FoUowlag are the official quotations In the metal market;—

PORT OF AUCKLAND “ The receipts for July were better than could reasonably have been anticipated,” was the comment in a report on the cash receipts last month at the. port, presented at. a meeting of the Auckland Harbour Board on Tuesday. A decrease of illU was shown in the total receipts of 132,770 for the Waitemata Harbour. The total for the last 10 months, f 301,631, although £38,856 below the figures in the preceding period, was on!y> £4958 below the estimates. For Manukau Harbour the July receipts were £770, an increase of £279 on those in July, 1930, and the total for .10 ninths was £4104, a decrease of £9BO. A credit balance of £118,140 was shown in the general account on July 31, and « debit of £81,364 in the loan account, JAPANESE WOOL-BUYING Statistics given by Winohcombe, Carson, Ltd., of Melbourne, show that exports of wool to Japan in the last season have established a new record, In 1930-31 wool shipped from Australia to Japan amounted to 508,421 bales, compared with 284,059 bales shipped in the previous year, and 342,176 in 1928-29.' Japan is now ranked second in the list of countries to which Australian wool is exported. The firm suggests that such heavy buying by Japan is to continue, as that country has been inemsing its manufacturing facilities, and it is expected that Japanese will begin to wear woollen goods almost exclusively in the winter. Japan also has an enormous field to explore once the purchasing power of the masses in the East improves. Japan has recently extended its operations in wool to the purchase of all classes of greasy merino and crossbred fleece and skirtings, except the highest class of specialties and of very burry, carbonising wools.

Copper, spot .. ,Ton. £32 13 9 Fall £0 0 744 Copper, forward ,, .. S3 11 10% No Change Electrolytic, spot .. 35 0 0 No Change Electrolytic, forward 38 10 0 Pall 0 10 6 Wire bars .. .. „ 38 10 0 Fall 0 10 0 Lead, spot .. ,, 13 2 S Pall 0 7 « I<6»d forward ,, ,, 12 6 8 Pall 0 1 8 Spelter, spot .. .. 11 0 0 Fall 0 IS s Spelter, forward .. 11 13 9 Fall 0 S 0 Tin. spot .. .. 108 11 8 Riso 0 8 9 Tin, forward .. .. 111 1 3 Pall I U 3 Silver, line .. Os. 13 I-lCd No Change Slim, standard •• 14 I-lCd No Change