COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17954, 5 December 1932, Page 2

COMMERCIAL

FROZEN MEAT MARKET SMITHFIELD QUOTATIONS (Elec. Tel. Copyright —United Press Assn.) LONDON, Dec. 3'. Frozen meat quotations on the SmithfieUl market are as follow: New Zealand sheep: Canterbury and North Island, selected crossbred wethers and maiden ewes, 48 to 561 b, 4Jd; 57 to 641 b, 43d; 65 to 721 b, 4il; ditto, North Island, 48 to 561 b, 42c1; ditto, 57 to 641 b, 4»d; ditto, 65 to 721 b 4gd. Patagonian sheep, wethers and/or rrtaiden ewes, under 501 b, 3d. New Zealand lambs, Canterbury. 361 b and under, none offering; ditto 37 td 421 b, 53d; ditto, 43 to 501 b, 53d; ditto, second quality, average 301 b, sjd; ditto, other South Island brands, 37 to 421 b, 53d; ditto, selected North Island brands, including Downs, second 'quality average 301 b, s!d; ditto, other North'lsland brands first quality, 37 to 4S)lb, none offering; ditto, second quality, averag'd 301 b 53d. Australian lambs, other States, first quality, 37 to 421 b, 42d; ditto, Victorian, second quality, 361 b and under, 53d; ditto, other States, second quality, 361 b and under, 43d. Argentine lambs, first quality, 361 b and tinder, 6d; ditto, 37 to 421 b, 5Jd; ditto, 43 to 501 b, 53d. New Zealand frozen beef, ox fores, 160 to 2201bs 2?d. Argentine chilled beef, ox hinds, IGO to 2201 b, sfd; others unchanged. SYDNEY STOCK EXCHANGE

NiarkEt quiet but firm SYDNEY, Dec. 2. Trh'clingi oh the investment market today was quiet but firmer in tone, although there was a weakness in tobacco shares,, due.to, the reduced earnings of tile British Tobacco Company. 'Sales: National Bank, £lO paid, ox dividend, £l2 3s 6d; National, £5 paid, £6 2s bet- Colonial Sugar, £53; ditto, New Zealand delivery, £53 Henry Jones, 37s 3d; Dhhlop-Perdriau, 16s lOAd; Tooth’s, 35s 11,cl; Toohey's, 2ts JJ-ci; Austral Glass, 445; Goldsbrongh, 24s fid; Morris, Hedstrom, 18s ; British Tobacco, 335. Commonwealth bonds, 4 pet 1 cents, all were a shade firmer. Mornino- sales : Commonwealth bonds, 4 Iper cent., 1941, £lOl 12s 6d; 1944, £IOO 17s. Austral inn Gas, A, £6 18s 6d;‘British Tobacco, 335; Broken Hill Proprietary. 25s 9d. MELBOURNE, Dec. 2.

Sales: Goldsbrough, 24s fid; DunlopPetdriau, 16s 8d; Electrolytic Zinc. 17s od; Taranaki Oil, 2s lid; South Rrokens. 47s 9d.

BRITISH TOBACCO DiVlftENto RATE, 6 PER CENT. SYDNEY, Dec.. 2 British Tobacco (Australia), Ltd., made a net profit for the year ending October 31, 1932, of £585.299 and pays a dividend of G per cent, in four quarterly interims. The dividend of 6 per cent, for the veair ended October 31, 1932, compares witlh 8 per cent, last year. 12 per cent, in 1930, 11 per cent, in 1929, and 10 per cork, in 1928. Net profit at £585,299 Compares with £747,927 last- year. £1.074,672 in 1930. £1,011,307 in 1929, and £916,506 in 1928. BRITISH BUTTER MARKET PRICE-FIXATION PROPOSAL A method of affording relief to the dairy industry has been suggested to the Prime Minister by Mr. J. R. Nicol, of Te Aroha, who, in a letter, said be had been connected with the dairying industry as long as anyone in New Zealand. As a secretary in 1890 he paid out the lowest price yet recorded, 2£d per gallon of milk, and in 1917, also as secretary, paid out the highest price ever known, 2s 10id per lb. butterfat. Mr. Nicol suggested that the New Zealand and Australian Governments consider the advisability of asking Great Britain to appoint a board of trade to fix the price of imported butter at a rate that would at least allow the Dominion farthers to .obtain a small margin of profit-. If the .price of butter could be fixed at, say Is 4d for Danish and Is 3d for New Zealand, Australia, Argentine, Russia and other countries, New Zealand Would benefit by reason of quality, and clearances of our exports would be made even at the expense of some of the foreign countries, whose products, did not rank nearly as high in point of quality. The Prime Minister replied that lie had read the suggestion with a great deal of interest, and noted it for consideration.

THE BUTTER MARKET The market for New Zealand butter in London seems to be adjusting itself to the low level it reached a little more than a week ago. Prices made a sudden jump upwards, but practically all that was gained then lias been lost. Joseph Nathan and Company advise to-day as follows-“ Butter, finest 86s to 87s, first grade 84s to 85s; the market Is quiet. Cheese is selling to land at d2s for both white and colored.”

grain and Produce There are very few buyers about for next year’s produce, states a Christchurch message. Tho fact that a good season is being experienced in Canterbury relieves any ’fear elsewhere that there will he a shortage, and merchants are therefore content to wait until terops are; harvested. There is a fair retail trade in seeds, such as turnips, rape, and kale; more notice is being taken of kale by light land farmers, and it is reported that supplies of seed are in small compass. Tho potato crop is looking well. Tho North Island has offered 3s lOd f.0.b., 5.0., for forward fowl wheat, but nobody is prenared to sell at this figure. Old fowl feed is about finished. It is worth 5s Id f.o.b.