COMMERCIAL

Poverty Bay Herald, Volume LV, Issue 16958, 23 May 1929, Page 12

COMMERCIAL

(Elec. Tel. Copyright—United Press Assn.) (Australian and N.Z. Press Association.)

(Received May 23, 11 a.m.) LONDON, May 22. New Zealand apples from the Middlesex, Coptic, and Hermihius sold as follows: Jonathans, 14s to 16s; Delicious, 13s 6d to 16s; C'oxs, 18s to 20s, and a few at 27s 6d. The Mataroa's pears, Rays and Josephines made 5s to 7s 6d; Winternelis, 6s 6d to 7s. AUCKLAND POWER BOARD LOAN The Auckland Electric Power Board has been successful in raising a substantial portion of the loan of £675,000 authorised by the ratepayers in February for extensions to its electrical undertaking and for futher strengthening the system to meet the delivery of the hydro-electric power from Arapuni. In his annual report the chairman, Mr. W. J. Holdsworth, states that £25,000 has already been obtained by the sale of debentures over the counter at per cent., and negotiations for a loan of £250,030 have now been completed with the Australian Mutual Provident Society. The first instalment, namely £50,000, will be available within the next few clays, and further amounts will be drawn quarterly as required. The rate of interest is 5£ per cent. The money is obtainable at par, interest commencing from the date of each drawing.

Last report indicated a firmness in the maize market, and this has since been emphasised (reports the Auckland Star of Tuesday). Substantial advances have taken place, and to-day merchants are asking from 7s 3d to 7s 6d per bushel, ex store. The position at present is controlled: from the sources of supply at Gisborne, and as the quantities on hand are not great, they have only to consider the parity with wheat when fixing their selling price. At this time of year maize is preferred by poultry keepers, but they will not pay an excessive amount for the preference. As new season's maize is likely to be on the market within the next few weeks, the present advance will not bo long sustained.

Taranaki (N.Z.) Oil Fields, N.L., report under date May 21:—"Gisborne No. 2 well: Depth this morning, 3067 ft in harxler formation ; consequently prospects of making better footage now brighter."