COMMERCIAL CABLEGRAMS.

Otago Witness, Issue 3869, 8 May 1928, Page 21

COMMERCIAL CABLEGRAMS.

LONDON METAL MARKET. LONDON. May 3. Copper: Spot, £6l 9s 4±d; forward, £6l lbs 7id. Electrolytic: Spot, £66 IDs: forward, £67. Wire bars. £67. L-ead: Spot, £2O Us 3d; forward, £25 LOs 15s. Spelter: Spot, £26 ss; forward, £25 16j 3d. i in: Spot, £232 17s 6d ; forward £231 17s 6d. Silver: Standard, 263 d; fine. 28 J d LONDON WHEAT MARKET. LONDON, May 2. Wheat: Cargoes opened dull at 3d lower and closed steadier. Parcels were in moderate demand. Australians were fully steady. Ex Vedic, Beltana, Forsdale, Port Denison, and Maloja, 55s 6d; ex Otira, 55s 9d. Liverpool futures: May, 10s 11 5-8 d; July, Us 2Jd; October, Us s|d. May 2. «vh.eat: Cargoes are dull, but the undercurrent is steady. Parcels are quiet owing to heavy tenders. At Liverpool there was a decline of from 3d to 6d. Ex Otira, 55s 6d. Liverpool futures: May, Us o£d; July, Ils 3fd; October, Ils 6|d. May 4. Wheat cargoes are influenced by the decline of 6d, but the undertone is steady. Parcels are receiving no attention. They declined Cd to 9d. Liverpool futures: May. 10s lOJd; July, Us 1 5-8 d; October, Ils 3Jd. May 5. Wheat cargoes are steady, with sellers occasionally higher, but buyers continue to be reserved. Parcels are firm, first hands asking an advance of 6d. Trading is slow. Liverpool futures: May, 10s lid 7-8 d; July, 11s 3d; October, llg 43d. The latest quotations are:—May, 1601 c per bushel; July, 160Jc; September, 1583 c. AMERICAN WHEAT MARKET. NEW YORK, May 4. Chicago wheat quotations: May, 156 j cents per bushel; July, 157 1-8; Septemtorian Jonathans, 10s to 13s. LONDON MARKETS. LONDON, May 5. Cotton: June shipment, 10.97 d per lb. Rubber: Para, lOd; plantation and smoked, Bfd. Jute: May-June shipment, £34 10s per ton. Hemp: April-May shipment, £3l 10s. per ton. Copra: April-May shipment, £27 per ton. Linseed oil, £3l 5s per ton. Turpentine, 41s 3d per ctrt. Osmiridium is quiet, and prices are unchanged. BUTTER AND CHEESE. LONDON, May 3. Butter is quiet. Danish. 1765. Choicest New Zealand salted, 1645; unsalted, 1681 to 170 s. Australian salted and unsalted, 1545. ; i 5 slow New Zealand, 97s to 98s; Australian, 92s to 945. THE TALLOW MARKET. LONDON, Mb- 1. Tallow: Stocks, 1428 casks; imports, 1027; deliveries, 1052. May 2. At the tallow sales 709 casks were offered and 626 were sold. Fine mutton was unchanged. Other sorts advanced 6d. Mutton: Fine, 41s 6d; medium, 38s. Beef: Fine. 425; medium, 38s. —AustraBeef: Fine, 425; medium, 38s. Messrs Dalgety and Co., Ltd., advise having received the following cablegram from their head qffice, London, dated May 2: —At the London tallow sales 710 casks of tallow weer offered, and 88 per cent, was sold (625 casks). Mutton tallow (in general) unchanged; tallow (other descriptions), Gd per cwt higher. FLOUR, BRAN, AND POLLARD. SYDNEY, May 2. The prices of flour have been increased by 5s to £l3 15s, bran 10s to £7, and pollard 5s to £B. THE MEAT MARKET. LONDON. May 5. Sheep.—Canterbury: Light, 7Jd per lb; medium, 6|d. North Island: Light, 7d; medium, 6|d. Argentine: Medium, GJd. Lambs.—Canterbury: Light, 10 per lb; medium, 9§d; seconds, 9Ad. Other selected brands: Medium, 9.}d. North Islands firsts: Light, 91d; medium, 9Jd. Australian firsts, Bfd. Seconds: Victorian, 8g; others, 83 d; thirds, BJd. Argentine firsts: Medium, 7fd. Frozen beef. —New Zealand: Hinds, 53d per lb. Australian: Hinds, sd. Argentine hinds, Gd. Chilled beef.—Argentine fores, 43d; hinds, 73d; others unchanged. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Co., Ltd., has received He following cablegram from its London house under date 2nd lust. ■ —Butter- New Zealard choicest salted. 164 s to 1655. The market is steady Cheese: 95s to 975. The market is firm. The National Mortgage and Agency Company has received the following cable message from Messrs A. J. Mills and Co., Ltd., London:—Butter: Market quiet; finest New Zealand, 164 s to 166; first grade, 162 s to 1645; Danish, 178 s to 180 s; Australian, 152 s to 1545. Cheese: Market firm; finest white and coloured, 97s to 98s; first grade, 96s to 975. LONDON PRODUCE MARKET. Tha Bank of New Zealand has received tl»a following cable advice from its London office under date May 2:—

Tallow: There is a good demand. Current quotations are: Good mutton, 46c to 40s 6d per cwt ; good beef, 40s to 40s 5d per cwt ; good mixed, 39s 6d to 40s per cwt; gut, Bss to 38s per cwt. AUSTRALIAN APPLES. LONDON, May 4. The .following prices were received for the Ormonde’s Victorian apples:—Cleopatras, 10s to 12s 6d; Jonathans, 7s to Rymers and French Crabs, 8s 6d. The Barrabool’s apples from South Aus--10s: London Pippins, 9s 3d to 9s 6d; tralia realised the' following prices: — Duns, 10s to 10s 6d; Cleopatras, 12s 6d to 14s; Jonathans, 10s to Ils 6d; Vicber, 1543DOMINION PEARS AND APPLES. LONDON, May 2. Pears are selling well. Ex Largs Bay and Mataroa, New Zealand trays of Winter Coles realised 2s 6d to 3s 6d; Josephines, 3s 6d to ss; Anjou, 4s to 4s 6d; Bosboscs (wastv), 2s Cd; others, 3s to 4s 6d. Apples by the Mataroa, Arawa, and Huntingdon brought the following prices: —New Zealand Cox’s, 12s to 17s; Cleopatras, 13s 6d to 14s 6d; Jonathans, 12s to 13s; Delicious. 12s to 13s; Dunn’s, 10s to 12sj and Lord Wolseley’s, 10s to Ils. /LONDON STOCK EXCHANGE. LONDON, May 2. Bank of Australasia, £l4 7e 6d; Bank of New South Wales, £45 ss; Union Bank, <l5 Is 3d; National Bank, £7 6s 3d; Bank of New Zealand, £93; ex div. shares.

£3: Loan and Mercantile Debentures, £94; ordinary stock, £lO4. GENERAL MOTORS STOCK. NEW YORK, Mav 4. General Motors stock rose to 203, a new high record. AUSTRALIAN LAND COMPANY. LONDON, May 2. The Australian Land Company has declared an interim dividend of 4 per cent. NEW ZEALAND LOAN CLOSED. LONDON. May 3. TTo New Zealand loan has l>een closed, applications *'or the conversion loan having reached £5,000,000. DOMINION LOAN OVERSUBSCRIBED. LONDON. May 2. 1 he cash applications over-subscripcd the New Zealand loan of £5,000,000. COLONIAL SUGAR COMPANY. SYDNEY, May 2. At the half-yearly meeting of the Colonial Sugar Company the report, which was adopted, disclosed a net profit for the half-year of £490.111, of which £236,507 was earned by the Australian mills and refineries and from investments subject to Federal income tax. and £253.604 was derived from New Zealand and Fiji and from investments not subject to Federal income tax. In addition to the revealed profits, an unexplained

addition of £185,798 was made to the replacement and depreciation fund, raising it to £1.723,421. A dividend at the customary rate of "cr cent, per annum absorbs £365.625, and an addition of £lOO,OOO will be made to the reserve fund, _ raising it to £675,000, and £365,853 will be carried forward, as against £341,366 brought into the accounts. The half-year nded March 31 was easily the most profitable experienced by the company. In Queensland and Fiji the summer was favourable to the cane crops, and an early start will be necessary in most mills, but in New South Males the output will be below the average. The company is in a wonderfully robust financial position. The total assets are now valued at £13,016,835, compared with £11,968,653 six months ago, the principal increases being in stocks ana cash balances.—Australian Press Association. *■ At a meeting oi the shareholders the Chairman (Mr Knox) moved an amendment to the articles of association of the company to prevent the transfer of company shares to a trustee company unless some person, either one of the beneficiaries or a representative acting on his behalf, be associated with the directors or the officers of the companv, so that owners shares may have the voting rights attaching to stock. The meeting adjourned for a week, when the result of a ballot on the question will be known. AUSTRALIAN MARKETS. T _. . MELBOURNE, Mav 3 Hides are irregular. Mediums and' light weights are Id to Id easier, while others are unchanged. SYDNEY, May 3. Wheat: Growers’ bagged lots at country stations, 5s Igd ; ex truck, Sydney, 5s 9d. Flour: The export trade is lifeless; local £l3 15s. Bran, £7. Pollard, £B. Oats: Tasmanian Algerian, £7 to £9. Onions: Victorian, £los. ADELAIDE. Mav 3. VS heat: Growers’ lots, 5s 7d to 5s BAd. Flour: Bakers’ lots, £l4. Bran, £7 12s fid. Pollard, £8 ICs. Oats, 3s 3d. LONDON WOOL SALES. LONDON, April 30. The first of rhe new consignments for the wool sales on May 8 include 31,109 bales of Australian and 29,560 bales of New Zealand. —Australian Press Association. SYDNEY WOOL SALES. SYDNEY. May 1. An official review of the Australian wool dip for the past year shows that the gross return was £67,000,000. The estimate of the National Wool Council that 2,250,000 bales would be received into store h:is been confirmed. This is 250,000 bales fewer than in the preceding year. Wh:le the wool showed a shrinkage of 5 per cent, in weight, the trend of prices was consistently upwards. 'The values of merino wools throughout the season were generally from 10 per cent to 15 per cent, above those of the preceding year Cnoice superfine merino fleece lines were about Id lower owing to the absence of American inquiry. At the wool sales the bulk of the offerings comprised crutehings, for which there was good general competition at the rates current at last series. Crossbreds and scoureds also met a firm demand, while all good descriptions of fleece wools and skirtings realised March closing rates, but faulty or mixed lots had irregular competition. Greasy merino fleece sold to 2Sd. comeback 27jd, and crossbred 273 d.