COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17944, 23 November 1932, Page 2

COMMERCIAL

THE BUTTER MARKET

A QUESTION OF FIGURES

A further fall of Is per cwt. for both New Zealand finest and first grade butter was reported from London to-day, compared with q uotat i ons received yesterday- 1, - -V’ "V It ' V ►'h /-I . ■ Joseph Nathan and Company reports as follows to-day“ Butter, finest 88s, first grade . 87sj- the market is , weak' Cheese, white 60s to 615,. colored 58s; the market is firm, and more business is doing.” ■« \v v- i The increased production m New Zealand and Australia is pointed to by those connected with the market qs one of the main causes of the phenomenal decline in butter values.,. Stocks of.both New Zealand and Australian butter in London are extremely low, but largo shipments are on the water, and this fact, it is . maintained, has had the effect oi depressing the market. The New Zealand Dairy Board .has, made insistent requests to dairy factories to . refrain, .from giving, there production figures for publication, and in doing so it was pointed out that the publication of returns, from individual factories or districts created at harmful influence on the overseas markets, for they were broadcast and sometimes were taken as, reflecting on the position for the whole Dominion. It was necessary that authentic figures for the Dominion should be published so as to create confidence in the statistics of the industry. This need was fully provided, for in the figures relating to quantities traded, which were published by the Dairy Division, and . by, the monthly circular of complete statistics issued by the As a result o f this appeal, the Northern Wairon Dairy Company, states ..the Auckland Herald’s,.Dargavillo correspondent, has decided not to release the company’s monthly figures to the press. It is understood, that other ,companies ip the district are. being approached to adopt the same attitude. Several other companies in. the north have decided on a similar procedure. SYDNEY STOCK EXCHANGE market generally st^sadV ...... ..' }- • . jp(Elec. Tel. Copyright—United Press Assn.) SYDNEY, Nov. 21. On the Sydney Stock Exchange today the market was generally steady, although there was .a .slight,relaxation here and there in the industrial group. Insurance, steam and gas shares were firm. i .... • I ) Sales: Bank of New..South.Wales, £3O 10s; Commercial Bank of Sydney, ? £l6 10s; Colonial Sugar, £52; Henry ’ Jones, 30s 3d; Burns-Philp. 48s 9d;, Toohey’s, 21s 3d; Tooth’s, 365; Gordon , and Gotcli, 31s 9d; British Tobacco, * 34s 10£d; Electrolytic Zinc,. 1.7 s 7|d;, pref., 28s lOJd; Mount Ly.ell, 225.3 d;• Nestles, pref., 31s; .Broken Hill Proprietary, 26s fid; North Broken Hill, 73s 9d; ditto, New Zealand delivery, , 73s fid. ? PrirmnAnurmilth hftnds. 4 DGF CGllt..'

Commonwealth bonds, 4 per cent., : 1938, £lO2 15s; 1941,, £IOO- 16s, 3d: • 1944, £lOl 7s Cd;. 1947, £IOO 15s; 1950,

. £lOl 7s 6d; 1953, £lOl 8s 9d; 1955, • £lOl 13s 9d; 1957, £IOO 2s 6d; 1959, j £IOO 17s 6d; 1961, £IOO-15s. I MELBOURNE, Nov. 21. } Sales: Dunlop-Perdriau, 17s Id; * Mount Lyell, 225,,6d t ; British Tobacco, 365; North Broken Hill 74s 3d.

'i ,■■ f.-v v VO fft**l V | LOW CATTLE PRICES f;; \ t&e matawhlbSo LAIA r

f' The low values at yesterday's cattle | fair at Matawhero were well-behind I those of the previous fair, and wore f believed bymany to be the lowest ever 5, recorded at Matawhero. | The store cattle c-ntry totalled 2200, ■; and their condition generally was good. h After the sale had passed the half-way mark, competition lessened, and prices $ were often below the following quotnf tions. * The values were as follows, with l those of the last fair in parentheses: — jj Cows, 15s to 35s (21s .to 355); 3-year l heifers, 30s to 35s (36s to £3); 2-year C heifers, 20s to 32s (23s to 455); bul- ‘ locks, 32s to 60s .(65s to SQs); 3-year Jsteers, 34s to 45s (45s to 57s 6<1); 2-year i steers, 24s to 29s (36s to 475); yearling - steers, 15s to 21s (25s to 355). 1 In addition to the.jiboye, the follow--1 ing values were obtained: —15-months steers, 205.t0 30s; Jersey heifers, r.w.b., 47s 6d to 625; P.A. bulls, 5 aiid,6 7 year, £3 7s 6d to- £5 12s 6d; Hereford bulls, no demand.

BRITISH FINANCES : i (Received November 23, It a.nv)' LONDON, Nov. 22. The price of gold is quoted at £6 6s Id. Sterling is at 326| cents, the year’s lowest figure. MOTUROA OILFIELDS Moturoa Oil Fields, Limited, reported to the Stock Exchange Association for the week ended. November 19 as follows 1 :—Moturoa No. S’ well: Drilled to 81ft. in volcanic agglomerate and heavy boulders. Fifteen-inch casing to 04ft. No. 2 well production: 115 barrels (4025 Imperial gallons).