COMMERCE AND FINANCE

Otago Daily Times, Issue 24296, 13 May 1940, Page 4

COMMERCE AND FINANCE

MERCHANDISE MARKET ACTIVITY OF THE WEEK SLIGHT RISE IN ONIONS Onions are now quoted at 13s to 14s a sack, showing a slight advance on recent rates. The market continues to firm. Supplies of Sugar The Port Waikato arrived on Saturday with sugar, and is to be followed on Tuesday by the Waimarino, which is bringing further supplies. Cube sugar manufactured in Auckland is now available, after a bare market for eight or nine months. Sultanas and Raisins The Australian Dried Fruit Control Board has advised New Zealand merchants that no One Crown sultanas will ‘be available this season. Further supplies of Mildura sultanas and currants came to hand last week, but Lexia. raisins have not yet made their appearance. It is expected that Lexias will come forward by the next ship, due in about three weeks’ time. The market is bare of packet seeded raisins. Ceylon Tea Supplies Considerable quantities of Ceylon tea reached the market during the week. Sand Soap Prices Advances in price have taken place in some brands of sand soap. • Canned Tomatoes Some packings of new season’s canned tomatoes, chiefly from the Hawke’s Bay district, are now to hand. Brown Paper Supplies Difficulty is being experienced by merchants in securing sufficient supplies of various grades of brown paper. TELEGRAPHIC RATES OVERSEAS CENTRES ON MAY II The following telegraphic rates on overseas centres are supplied by the Bank of New South Wales, Dunedin:— On Buying Selling

DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be pay-

MINING NEWS ARGO DREDGE RETURN The return of the Argo dredge was 41oz for 132 hours, 13,000 yards being treated. •' ■ NEW RIVER RETURN The New River dredge return for the week ended May 9 was 320 z from 11,500 yards treated in 130 hours. BIG RIVER REPORTS Big River Gold Mines, Ltd., reports the following gold returns from March and April, 1940; , In the battery department 2uo tons ot ore were crushed for 121 oz sdwt of melted gold. In the cyanide department 150 tons of sands were treated for 20oz 9dwt of bullion. The total estimated value was £1065. In addition, 3.5 tons of concentrates, valued at £ll2, were saved. In estimating the above values, gold has been taken at 160 s per fine ounce. WHITE’S ELECTRIC DREDGE The White’s Electric Dredging Company reports a return for the week ended May 9 of 18oz from 9000 yards treated in 124 hours.

WORLD WOOL TRADE CHANGES DUE TO THE WAR The war has produced some marked changes in ihe world’s war trade. In Argentina, the United Kingdom is usually the largest buyer, and took 135,38(5 bales during the 1938-39 season. The South American bale weighs approximately 9001 b. Up to the end of January this season, no wool had been exported to Great Britain, states a report issued by Winchcombe, Carson. Limited, Australian woolbrokers. The United States was the outstanding purchaser, taking 64,613 bales, or nearly twice the quantity bought during the corresponding period a year earlier. Germany. previously an appreciable operator, has ceased to buy. France and Belgium have taken less, but Italy has been more active. Japan, inactive 12 months before, has purchased with fair freedom buying 6829 bales. It Is expected that the appraisement of the new Australian clip will be expedited by a start with the offering of catalogues in August, compared with a beginning in October this season. The delay of six weeks was unavoidable in September-Oc-tober, 1939, because of the outbreak of the war. TAUPIRI COAL MINES NET PROFIT SLIGHTLY LOWER Net profit of £10,592, against £12,222 in the previous year, which was the best since 1931, was earned by Taupiri Coal Mines. Limited, in the year ended March 31. Ordinary dividend for the year is unchanged at Is 6d a share or per cent., and absorbs £9750, while preference payments require £I2BO. Gross earnings were £29,176, against £31,174, while interest and rents provided £2791, against £2706. DOW JONES AVERAGES (United Press Association) (By Electric Telegrahp—Copyright) NEW YORK, May 8.

FRUIT AND PRODUCE WORLD Reilly’s report selling:— Per Dozen.—Eggs: Guaranteed, 2s 8d; Pullets. 2s 3d; preserved, Is lOd. Carrots, Is. Parsnips, Is. Spinach, 6d to Is. Lettuce. Is to 2s. Hothouse cucumbers, 2s 6d to 5s 3d; section honey, ,13s 6d. Passion Fruit, Is to Is 6d. Each.— Champion egg crates. 24 dozen. Per Half-case.—Pears; Dessert Winter Cole and Winter Nelis, 5s to 6s 6d; cooking, 3s 6d to 4s 6d. Cape Gooseberries, 9s to 10s. . Per Case—Lemons. Californians, 58s. Oranges: Jamaicans (repacks), 28s to 32s 6d. Jamaican grapefruit. 21s 6d to 32s 6d. Bananas: Ripes. 22s 6d. Pears: Dessert, 10s to 14s. Pears: Cooking, 8s to 10s. Apples: Extra fancy and fancy, Cox s Orange. 8s to 9s; Jonathans, 4s to 4s 6d; Delicious, 5s 6d to 6s 6d: Stunners, 5s 6d to 6s 6d; cooking apples. 4s to ss. Quinces, 8s to 10s. Per Lb—Feijoas, 9d. Grapes, Is 8d to Is 9d; Gros Colmars. 2s 6d to 2s 9d. Green peas, sd. Local hothouse tomatoes Is 2d to Is 3d; Christchurch outdoor, 4d to 6d; Central Otago, 3d to 4d. Kumeras, 3Jd. Pickling onions, IJd. Garlic, 4d. Butter: Storekeepers, Is to Is Id. Bacon: Prime, Is 3d. Pigs: Baconers, 8d; porkers. BSd; overweights, 4d to sd. Clover honey, 7d to 81d. Beeswax, Is 6d. „ _ . Per Bag.—Cauliflowers, 6s to 7s. Cabbages, 3s to 4s. „ . Per Cwt. —Marrows. 6s to Bs. Onions: Canterbury, 13s. Potatoes; King Edwards. 6s 6d; whites. 5s 6d. Pumpkins. 12s to 14s. Pie melons, 14s. Lime sulphur, 3s 9d a gallon. Restar, half-gallons, 4s 6d. Semesan, 11b, 8s 6d Red Rose nicotine sulphate, 101 b 435; 21b, 13s 6d: 11b. 7s 6d: Jib, 4s 6d. DP. derris for white butterfly control, 11b tins, 2s 3d: 101 b tins, 15s. Woodwool, 30s. Fruit wrapping paper, 2s 9d per ream. Fowl wheat, to 6s 9d; second grade, 6s. Maize, 7s 6d. Oats: Gartons, to 4s 6d per bushel; crushed oats, 12s 6d. Crosskeys meatmeal, 15s per bag. Oyster grit, to 6s 6d per bag. Bran. £5 10s. Pollard, £6 15s. Chaff, b. 0.5., £5 10s. Oaten straw, £3 10s. Hav, £5 10s per ton. Palmers chick food, 21s 6d per 1001 b. Per Pair— Poultry: 49 cockerels at 2s 6d to 10s 6d; 261 bens at 2s 2d to 8s 2d: 8 bantams at 2s 4d to 4s 2d; 5 ducks at 5s 6d to 6s 2d; 44 pullets at 5s 6d to 10s 6d per pair; 3 turkey hens at 9d per lb. REILLY’S CENTRAL PRODUCE MART, LTD. Moray place, Dunedin, C.l.

New York— (Dollars to £1) .. 3.2542 3.2050 Montreal— 3.5290 (Dollars to £1) 3.6039 France— 141.05 (Francs to £1) 142.05 Greece— 424.33 (Drachmae to £1) .. — Italy— 50.932 (Lire to 1) .. .. — Switzerland— 14.216 (Francs to £1) 14.416 Hongkong— 181 18? (Pence to 1 dollar).. India and Ceylon— 22 19-64 22 45-64 (Pence to 1 rupee) .. Japan— 22 5-64 (Pence to 1 yen) .. — Manila— 37 7-16 (Pence to 1 peso) .. 36 9-16 Shanghai— 5 11-64 '(Pence to 1 dollar). Singapore— 34 13-16 35 9-16 (Pence to 1 dollar) ..

able:— •Mosgiel Woollen—Interim, 4 per May 14 > cent. ; North Wairarapa Building and Investment —Final, 2J per cent., at 5 per cent, per May 14 annum .. .. .. •Mount Morgan—Interim, ord., May 15 6d per share .. .. • • •• ♦National Insurance—Interim, 4d May 15 a share Dalgety and Co.—Interim, 3s a share (less British income May 16 tax) .■ Alloy Steel (N.Z.) —Final, 3J per cent., and bonus of Is a May 18 share William Cable, Ltd.—Half-yearly. May 20 pref., 7 p.c ; . N.Z. Paper Mills—Final, 4 per May 21 cent, Dental and Medical, Ltd., 5 p.c. Westport Coal —Interim, 6d May 23 May 24 Swan Brewery—Ord.; 6d and bonus of 3d per share May 29 •Broken Hill Pty.—Half-yearly, May 29 9d National Bank of Australasia— May 29 Interim, 6 per cent Bank of New South Wales— Interim, 6s a share (AustraMay 30 lian currency) United Permanent Building, May 30 Auckland—Interim, 2\ p.c. .. Arahura Dredging—First, Is May 30 E.S. and A Bank—Interim, 3£ May 31 p.c. (less British income tax) Kauri Timber—Interim, 2J p.c. May 31 Henry Jones Co-op—Interim. 6d June 1 Dominion Fertiliser —6 p,c. June 5 •Broken Hill South—6d June 15 Mount Lyell—9d June 17 Bank of New Zealand—Final, Is per share .. June 21 Imperial Chemical Industries— Final, 5 per. cent., making 8 July 1 per cent, per annum .. .. Dunedin Brewery—Final, 3 p.c. — * Quoted ex dividend on Stock Exchange.

1926 = 100 Sales, 20 Rail1000 roads. Industrials. shares. February 7 30.83 146.63 490 February 2D 30.48 146.54 680 March 1 30.41 146.23 600 March 27 30.79 147.45 1190 April 1 .. 30.73 147.72 750 April 8 .. 31.96 151.29 1260 April 16 ., 30.64 148.18 1510 April 22 .. 30.63 148.01 870 April 30 .. 30.69 148.43 590 May 1 •• 30.52 147.13 310 May 2 •. 30.66 147.76 650 May 3 .. 30.78 147.65 1070 May 6 .. 30.79 147.33 530 May 7 ., 30.86 147.74 580 May 8 30.90 147.96 690 May 9 .. 31.14 148.17 850