COMMERCE AND FINANCE

Otago Daily Times, Issue 21735, 29 August 1932, Page 2

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE A sale of Okaritog at 8g 6d was recorded on the Stock Exchange on Saturday morning, the market closing with sellers asking 8s 8d and no buyers offering. National Banks of New (Zealand were inquired for at £4 13s, but selleis were not interested. Buyers of Union Banks offered £7 2s 6d, but sellers remained firm at £7 4s 6d. Dalgetys were inquired for at £7 12e, but sellers did not come forward. There was a slightly better inquiry for Crystal Ices, buyers being prepared to give up to £1 os. Sellers. however, made no response. Buyers of Waihi Grand Junctions offered up to 2s 9d, without sellers responding. Kildares were offered for sale at Is 6d, but buyers would not give more than Is 3d. SALE ON ’CHANGE. £ s. d. Okarito ® ® The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:— BANKING.

NORTHERN EXCHANGES (Per United Press Association.) The following business was done on ’Changes on Saturday:— Auckland. —Sales: Stock (1938), 4J per cent., £95 10s; Bank of New Zealand, 46s 3d, 46s 6d (two parcels); New Zealand Guarantee Corp. (ord.), 6s; Robinson Ice, 17s 6d; Golden Point, BJd; Mahakipawa, 4sd. Christchurch. —Sales: Bank of New Zealand, 46s (two parcels); South British Insurance, 58s; New Zealand Refrigerating (10s paid), 4s sd; Christchurch Gas, 24s 6d (two parcels), 24s 7d; New Zealand Breweries, 26s lOd (two parcels); King Solomon, Is lOd (two parcels); Okarito, 8s 6d; Waihi Grand Junction, 2s lid, 2s lOd (two parcels).-—Sales reported: Dalgety and Co., £7 15s; New Zealand Refrigerating (£1 paid), Ila 9d. Wellington.—Sales reported: New Zealand Guarantee Corp (ord.), 5a lOd (late Friday); New Zealand Breweries, £1 6s lOd (two sales late Friday), £1 7s (late Friday); Electrolytic Zinc (pref.), £1 4s 2d (late Friday); Rosella Preserving Co., £1 12s 6d. DAIRY PRODUCE The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Producers' Association, Ltd., London:— Butter: Quiet; 107 s to 109 s; unsalted, 106 s to 110 s; Danish, 112 s to 114 s. Cheese: Quiet. White, 625; coloured, 58s to 60s. Messrs H. L. Tapley and Co., Ltd., have received the following cabled market report:— Butter, 108 s to 109 s per cwt. Cheese: White, 62s per cwt; coloured, 57s to 58s per cwt. SYDNEY STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, August 27. Stock Exchange sales this morning:— 4 per cent. 1938 bonds, £9O 15s; 4 per cent. 1941, £99 15s; 4 per cent. 1944, £99 15s; 4 per cent. 1950, £9B 12s 6d; 4 per cent. 1953. £9B 10s; 4 per cent. 1961, £99 15s. £lO Bonds: 4 per cent. 1938 £9 18s; 4 per cent. 1950 £9 16s; 4 per cent. 1961, £9 18s 6d; New Zealand debentures, 5J per cent., 1937 (September interest), £ll2 10s; Commercial Bank of Sydney, £l6 17s 6d; Morris Hedstrom, New Zealand delivery, 17s; Tooheys, 20s 10ld; Tooths, 325; Go'dsbrough, Mort, 28s; Winchcombe, Carson, 255. P. AND 0. SHARES (United Pres* Association.) (By Electric Telegraph—Copyright.) LONDON, August 26. P. and 0. Shares, 20s OJd.

LOCAL AND OVERSEAS MARKETS.

FRUIT AND PRODUCE WORLD Reilly’s report receiving increased quantities of flowers. Lettuce, cabbages, cauliflowers wanted. Dessert and cooking apples in full supply. Poorman oranges in excess of requirements. Lemons in demand and prices advanced. Niue bananas ripened perfect condition; ample supplies available. Oranges short of requirements. Mandarins, smooth-skin Sevilles, pineapples, pie melons, passions arriving Waikouaiti. Our first consignment grapes arrived perfect condition, realising high prices. Table potatoes moving steadily. Onions short and extreme prices ruling. Fresh supplies due September 5. Eggs: Unwisely, in our opinion, price of eggs was reduced to Is per dozen, and nothing like sufficient supplies coming forward to meet the demand.

Whitebait.—Running slowly. Supplies purchased freely on arrival; 15s per quart for small parcels. Poultry.—All birds forwarded readily placed at fair values. During the week a keen demand experienced for flowering shrubs, roses, fruit, forest trees, hedge plants, and the new rose, Climbing Shot Silk. Supplies of gladioli now practically exhausted. Spraying materials are also in demand. Seed potatoes are moving steadily, especially for the choice lines of Southland grown. On Wednesday, September 7, we hold a monster sale of plants of all descriptions. During the week we sold: —Trumpet narcissi—Magnifiance, 18s; Sol de Or, 6s to Bs. Freesia, 4s, 6s. Pearls, 3s, 4s. Melanthrea, 12s. Daphne, 6d. Giant grape hyacinth, 3s. Violets, 3s. Anemones, 3s. Beetroot, Is. Saxafraga Rosea, os. Boronia, 6d, 9d. Cabbage, 4s. Cauliflower, 4s, 8s 6d. Eggs: Poultrykeepers, Is. Honey: Jib pats, 4s, Lettuce, Is, 9s. Fruit trees, from 12s to 18s. Roses, 10s, 30s. Rhubarb roots, 4s per dozen. Flowering shrubs, Is 6d to se. Champion egg crates, 15s 6d. Mutton birds, 6d, 6d, C.M.W. Knapsack sprayer, £5. Yates and Co. seeds, 3d to 2s 6d per packet. Apples: Jonathans, ss, 6s; Delicious, ss, 8s; Lord Wolseley, Alfristons, choice large cookers, 4s 6d, 5s 6d; Sturmers, ss, 7s 6d. Pears: Winter Coles, 6s, 8s 6d; Winter Nelis, 7s, 8s 6d. Pines, 18s, 20s. Grapefruit: Australian, 16s. Lemons: Australian, 20s; New Zealand, 12s 6d. Passions, 12s, 14s. Poorman oranges, ss, 6s 6d. Smooth-skin Sevilles, 12s. Bananas; Choice ripe Nines, 15s. Mandarins, 12s, 14s 6d. Oranges: Victorian navels, 12s, 14s 6d per case. American grapes, perfect condition, 34s per case. Bulk honey: Choice, sd, 5Jd: discoloured, 3d. Walnuts, 4d. Porker and bacon pigs, 5Jd, 6Jd. Cheese; Medium, 6d, 7d. Tea; Orange Pekoe, 2s 3d. Beeswax, Is Id. Whitebait, 6s. Bacon: Prime, lOd; hams, IOJd per lb. Marrows: wanted. Pie melons: Australian, 14s. Pumpkins: Wanted. Potatoes, 5s 6d, 7s 6d. Onions: Japanese, 28s. Swedes, 2a 6d. Carrots, ss. Parsnips, 7s. Woodw'ool, 28s. Bluestone: Macclesfield, 42s 6d, Oyster grit, 17s per cwt. Olive oil, ' 10s 6d gallon. Semesan and Granosan: slb, 555; 2oz, 2s 3d._ Fruit wraps, 3s ream. Vallo Giraffe lime sulphur: Cases 2 gallons, 2s 3d; barrels. Is 9d. Black leaf “40”; American—lolb 525, 51b 30s, lib 8s 6d. Jib 4s 6d; British —lolb 455, 51b 255, 11b 6s. Honey: 51b, 3s 6d; 10lb, 6s. Wheat, ss, 6s; shrivelled, 4s 6d. Oats: A Gartons. 3s; B, 2s 9d per bushel. Ricemeal for poultry, pigs, and cattle, 7s 6d. X Keys meatmeal, 15s 6d; National. 15s. Firewood blocks: Manuka, 2s 6d. Crushed oats, 12s. Palmer’s chick food: Prices on application. Molasses, 42s 6d cask. Fowl manure, 2s 6d per sack. Manuka tomato stakes, 8s per 100. Bran, £5. Pollard, £7. Straw oaten, £3 10s; wheaten, £3; hay, £4 10s. Oatsheaf chaff, £5. Pollard, £23. Poultry: 175 hens at 2s to 9s, 67 cockerels at 3s to Bs, 10 pullets at 4s to 6s Bd, 2 bantams at 4s per pair, 12 gobblers at 8d to B|d. 9 turkey hens at BJd to Is per lb. Jersey Benes seed potatoes, 14s: King Edward, 6s 6d to 8s; Arran Chief, 5s 6d; Robin Adair, 14s: Early Puritan, 10s; Early Regent, 13s; Up-to-Date, 6s, 9s; Sutton’s Supreme, 12s; Breeze’s Prolific. 9s; Red Dakota, 9s; Majestic. 10s; Golden Wonder. 8s 6d; Native Chief, 8s per cwt; Canary Island, 6d per lb. REILLY’S CENTRAL PRODUCE MART, LTD., . Moray place, Dunedin. SOUTHLAND GRAIN REPORT (From Our Own Correspondent.) INVERCARGILL, August 26. Oats.—During the last fortnight or so the demand from outside sources has distinctly improved, and a fair amount of business has been done in northern centres, and especially Auckland, A Gartons at 3s 7d and B’s at 3s 4d, f.0.b., s.i., Bluff. Heavy undergrade oats weighing from 431 b to 441 b, undergrade only in a very slight degree in so tar as colour is concerned, have been sold at up to 3s 5d for an exceptional lot, and 4llb to 421 b oats of similar description at 3s 3d. The local sowing-down with the advance of spring is greater than merchants anticipated. It is still quite evident that farmers are looking at matters in a much more hopeful light than they did some little time ago, and both seeding-down and topdressing with manures are being carried out with considerably more freedom than was shown a year ago. LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London office under date August 26: For wethers the market is steady, and no material change is expected yet. The market for ewes is quiet and unchanged. The demand for lambs is improving, while prices are practically unchanged. Wethers, light, 3Jd to 4d per lb; heavy, 2|d to 3Jd; ewes, 2d to 2jd; lambs —twos 4jd to 5Jd, eights 4|d to sd, fours 4Jd to 4ijd, seconds 4}d to 4Jd.

MINING NEW GUINEA GOLDFIELDS. ORE TREATMENT BEGUN. New Guinea Goldfields, Ltd., advise that the following progress report for July has been issued by the Minitig Trust, Ltd., consulting engineers to the company:— The mill has been completed and the machinery run on a light load to effect any necessary mechanical adjustments. Ore treatment is now being commenced. The alluvial operating profit for June was £10,091, Australian currency. The production for July was 24700 z bullion, the decrease being due to working through a patch of low-grade ground. MOUNT LYELL SHARES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, August 28. Mount Lyell, 17s 9d. NORTH BROKEN HILL 9 (Peb United Pbess Association.) WELLINGTON, August 28. A cable received to-day states that the North Broken Hill Company has declared a dividend of Is per share, payable at Melbourne op September 30. The directors inform shareholders that the dividend is payable primarily out of accumulated funds. PRICE OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, August 26. Fine gold is quoted at £5 19s per ounce. LONDON, August 27. (Received August 28, at 5.5 p.m.) Gold is quoted at £5 18s lid per oz. I FROZEN MEAT MARKET

(United Pres* Association.) (By Electric Telegraph—Copyright.) LONDON. Auguit 27. (Rewired August 28, at 8.8 p.m.) The following are the latest quotations Aug, 18. Aug, 80. Aug. 27. (Pet lb.) d. d. d. N.Z. Sheep—

COTTON, RUBBER, ETC. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, August 27. (Received August 28, at 5.5 p.m.) Friday’s closing prices are as follow: — Cotton: Spot, 6.45 d per lb; September, 6.36 d per lb. , , ~ Ruboer: Para, 4jd per lb; plantation, smoked, 211-16 d per lb. , Jute: New, August-September, £l9 Is 3d, ■** Copra: September-October shipment, South Sea, £l3 12s 6d per ton; plantation Rabaul, £l3 15s. Linseed oil, £lO 10s per ton. Turpentine, 02s per cwt. MERCHANDISE MARKET Merchants are still awaiting advices regarding the new season’s Quotations for salmon. Some grades are already getting into short compass in merchants hands. The Otira has brought supplies of dates, including stone, C. and B. essences, cut tin tacks, Foster Clark custard powders, white printing paper, and a number of Morton’s lines. A new line to make an appearance on the market is Oak lemon juice, packed in pint bottles. . , The Wingatui will land a cargo of sugar on September I. . , ~ Certain sizes of Australian canned fruits remain short until the arrival of the Wainui on September 6. . The Cambridge has brought supplies of West of England goods, including Golden Shred marmalade, English packed sardines, water glass, etc. The Canadian Conqueror landed a small consignment of Canadian packed sarwas received during the past week from the Australian Dried Fruit Control Board that a limited quantity of plain or manufactured quality sultanas was available for prompt shipment, but another two days after a cablegram was received stating that the sultanas were not available owing to large orders being received. Two Crown currants are, however. still available. A new lino, Campbell’s table delight, a jellied custard, packed in Dunedin, has made an appearance on the market. AUSTRALIAN SUGAR SHIPMENT TO CANADA. (United Press Association.) (By Electric Telegraph—Copyright.) HALIFAX, August 27. (Received August 28. at 5.5 p.m.) The first cargo of Australian sugar reached here in the motor ship Australind. Some 2500 tons were unloaded at St. John and 5000 tons are going to Halifax.

HUDDART. PARKER, LTD. Messrs Huddart, Parker, Ltd., Melbourne, advise that the directors have declared an interim dividend for the halfyear ended June 30, 1932, of 3 per cent, on the preference shares and 2i per cent, on the ordinary shares. The transfer books will be closed from September 6 to September 15 inclusive, and the dividend will be payable on the latter date. Cheques for New Zealand shareholders, drawn on the Commercial Bank of Australia, Ltd., Wellington, will be posted as usual. SYDNEY WOOL SALES INCREASED PRICE FORESHADOWED. (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, August 28. (Recieved August 28, at 5.5 p.m.) Indications point to prices at the wool sales opening at Sydney on Monday, showing a rise of 20 per cent, above the June rates. This idea is based on fecent private sales and the possibility of the clip being light in many areas owing to dry weather. It is believed that China will buy 400,000 bales of wool this season.

Buyer. Seller. £ s. d. £ 8. d. Bank of A’asia — 9 17 6 Bank of N.S.W. .. 26 10 0 — Bank of N.Z — 2 7 0 Bank of N.Z. (long D) 1 6 6 — Commercial Bank 0 14 1 E.S. and A. Bank 4 5 0 1 Natl. Bk. of N.Z. 3 13 0 — Natl, Bk. of A'si a 10 15 0 — Natl. Bank of Australasia (cont.) 5 3 0 — Union Bank .. .. 7 2 6 7 4 6 INSUKANCE. National 0 13 4 — New Zealand .. .. —- 2 2 9 South British .... — 2 18 0 Standard 2 5 0 — SHIPPING. Huddart, Parker (ord.) •• 1 5 0 — P. and 0. L)ef. Stock 1 0 0 —* U.S.S. Co. (pref.) 1 0 0 — COAL. Kaitangata .. .. *0 1 0 — Westport — 0 12 6 LOAN AND AGENCY. Dalgety and Co. .. 7 12 0 — Goldsbrough, Mort 1 4 0 — Natnl. Mortgage .. — 2 0 0 N.Z. Guar. Corp. 0 5 9 — Trustees, Executors 2 12 6 . MEAT PRESERVING. Gear Meat .. .. 1 12 6 — N.Z. Refrig, (cont.) 0 4 4 0 4 6 South Otago Freez. 2 10 0 — MISCELLANEOUS. British Tobacco .. 1 9 6 — Brown, Ewing (pref.) — 0 19 0 Crystal Ice .. .. 1 3 0 — D.I.C. (ord.) .... 0 10 6 0 12 0 Dominion Rubber 0 4 6 — Donaghy’s Rope .. 1 10 0 — Kaikorai Trams 1 14 0 — Kaiapoi Woollen (ord.) 0 5 0 — Milburn Lime .... 1 5 0 — Mosgiel Woollen .. 6 12 0 . N.Z. Drug Co. .. 2 17 0 — N.Z. Express (ord.) — 0 10 6 Farmers’ Fertiliser 0 13 6 0 14 3 N.Z. Paper Mills 1 0 6 ’ Whitcombe and Tombs .... .. 2 10 0 — Wilsons Cement .. 1 10 0 — BREWERIES. N.Z. Breweries .. 1 6 9 1 7 0 N.Z. Breweries (debs.) 1 0 0 — Dunedin 0 19 6 — Tooths 1 8 0 MINING. Kawarau 0 0 5i — Waihi Grand Jctn. 0 2 9 — S. Broken Hill .. — 2 4 6 Molyneux Electric 0 2 0 0 5 0 Maliakipawa .. .. 0 0 3 — Kildare .. .. . • 0 1 3 0 1 6 Okarito — 0 8 8 Paddy’s Point . . • — 0 4 11 King Solomon .... 0 1 9i 0 2 U Golden Point .. .. — 0 0 9i Gillespie’s Beach to 0 Oi — OIL. Moturoa (ord.) .. 0 3 3 — GOVERNMENT LOANS. , 4f p.c. Bonds,. 1938 •95 0 0 98 0 0 4 1 p.o. Bonds, 1939 95 0 0 — 4| P.c. Ins., 1938 95 0 0 96 0 0 4| p.c. Ins., 1939 95 0 0 — 54 p.c. S.S. Bonds, 1933 99 7 6 — 5J p.c. S.S. Ins., 1933 99 7 6 — 5& p.c. Bonds, 1936 99 0 0 — 5i p.c. Ins., 1933 — 99 0 0 p.c. Bonds, Feb., 1937 99 0 0 —- 5} p.c. Bonds, Sept., 1937 101 0 0 * 51 p.c. Ins., Sept., 1937 — 101 10 0 •Discount. fPremium.

Canterbury and North Island selected crossbred wethers and maiden awes— 48-501b 874 — — 67-G4U) 374 — — C5-721b 274 ' North Island: 48-5GIb *54 — — B7-641b 8 — —w 65-721b 2% — — Ewes: 431b and under .. 274 — — 43-641b 27i — . — G5-721b 2 — — N.Z. Lambs— Canterbury: 30lb and under 5 — 574 S7-421b B — — 43-50Ib 474 454 454 Second Quality: Average 801b ., ’ .. — 454 Other South Island Brands— 301b and under .. _ — 37-42U) — 1 — 43-S01b -- — 474 Selected North Island Brands, Including Downs— StUb and Under 574 — — 37-421b 5 — — 43-501b 474 454 454 Second Quality: Average 301b .. 4% 454 454 Other North Island Brands— First quality; 301b and under 474 454 — 37-421b 45i 454 — 43-601b — — — Second quality: Average 301b .. .. 454 — 414 Australian Sheep: First quality crossbred and/ or merino wethers— 40-65lb 274 — — Second quality: 30-551b s. 274 — — Ewes— 30-551b 254 — — Australian Lambs— Victorian— Best quality; SGIb and under .. , , 454 474 4 37-42U) 454 4 <4 4 Second quality; 301b and under .. • • — — 474 Other (States— First quality: 301b and under .. i. 474 474 4 37-421b 474 4 4 Second quality; 30lb and under .. • • 454 474 — All States— Third quality .. .. 474 — Argentine Sheei>— First quality crossbred wethers— 48*04 Jb 254 — 2% C5-72lb 214 — Argentine Lambs— First quality; 301b and under •. 474 454 — 37-421b 474 — 4 (3-S0lb 474 — 454 Patagonian Sheep — Wethers and/or maiden eweiCnder 501b .. >< >■ 17* — 2 74 50-001b 254 — — Patagonian Lambs— First quality: 301b and under .. , , 454 — 414 S7-48Ib 454 — 474 Second quality: Average 301b .. .. 474 — 474 New Zealand Frozen Beef— 0* fores (1B0-320U)) — — — Or hinds (160-2201b) 354 — 374 Argentine Chilled Beef — Ox fores (160-2301b) 274 254 254 Ox binds (W0-2201b) M G54 0 554 Australian Frozen Beef— Ox crops under 1001b ,* 274 — — Ox crops over 1001b M 254 — r~ Ox hinds under 1001b 374 — 374 Ox hinds over 1001b .« 374 — — New Zealand Pigs — First quality: GO-UOlb (av. 801b) 5 _ — m-i20ib 474 — 4% Australian Pigs— First quality: OO-llOIb (av. 901b) .. 5 454 IU-1201b 6 —