COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18068, 20 April 1933, Page 2

COMMERCIAL

FAT STOCK PRICES RISE ALL LAMBS ADVANCE }D An advance took place yesterday in export fat stock prices offered by buyers in Gisborne. Lamb rates were increased by jr] per lb. for all weights find grades, making the top price 4-ld, an improvement of Id on. the rate ruling ,a few weeks ago. Advances also took pliice in lightweight mutton. Wethers of 481 b. ami under went up by hi, with 491 b. and 561 b. weights impriving by Jd- Ewes up to 561 b. are now jd clearer. Beef prices rife inclined to be easier, but there appears to be a variation in the quotations. 'The new schedule for lamb and mutton is ns follows: — Lamb. —361 b. and under, 4Jd per lb.; 371 b. to 421 b., 3fd; 431 b. and Over, od; seconds, 3§d. Wethers. —481 b. and under, 2§d; 491 b. to 561 b., 2jjd; 5711). to 641 b., 2Jd; 6;Tb. to 721b'., lfd; 731 b. and over, J|d; seconds, 2d. Ewes. —481 b. and under, 1 gd; 491 b. to 561 b., and over, ijd; seconds, §d.

@RAIN and seed demand MARKET STILL QUIET The market for Gisborne grain and seed remains quiet. Maize is selling slowly on tho same quotations as last week, namely 3s 9d to 3s 10d. One feature of the present low prices is that imports are effectively shut out, even crushed maize that is allowed into tho country free of duty from British possessions. Price prospects for the new season’s crop, however, are not bright, in view of the low quotations for wheat, which are down to 3s 3d for spread delivery up to Christmas.

Tiie seasonal demand for rye grass seed lias finished, and no further orders are expected until the spring sowings commence. A fairly large carry-over to next season appears inevitable, for an estimate of the position mado by one connected with the industry makes it apparent that barely one-third of the certified seed produced this season lias been disposed of. As a result of the largo supplies they have had to choose from, buyers have been careful to select only those lines of highest quality. Therefore, uncertified seed, unless of outstanding quality, lias beon neglected, and only those certified lines of good color and high germination and purity have been in demand. The germination has been excellent this year, most lines having germination certificates of 98 per cent, '"and over, and it is the exception to find lots going below 98 per cent. DAIRY PRODUCE MARKETS Prices for New Zealand butter on the London market have weakened slightly sinco last week, when quotations went above 70s per cwt, according to some advices. The New Zealand Loan and Mercantile Agency Company havo received the following cable message from London dated April 20: —“Butter, 09s to 70s; the market is slow. Cheese, white 39s to 40s, colored 45s to 465; the market is quiet.’’ AUSTRALIAN COMPANIES Tho following summary of net profits reported during tho past six months by 500 public companies carrying on all classes of business in Australia is contained in tho National Bank of Australasia’s review for March;—-

The review comments tTiat some improvement in trading results is shown, but, as most of the accounts cover a full year’s transactions, the comparison is not as up-to-date as could bo wished. STANDARD TRUST Speaking at the annual meeting ol' the Standard Trust, Limited, in London, the chairman, Mr. Alfred Shepherd, said the depreciation in the value of the company's investments during 1932 had been less severe than i;t 1.930 and 1931. A mere appreciation in Stock Exchange valuations of the company’s investments did not entitle shareholders to assume that tlio revenue position would immediately improve in the same ratio, it would be gome time before companies which had to decrease or omit dividends would, even if there was an improvement in general conditions and trade, be in a position to increase their dividends, or, in cases where dividends had Men omitted, to resume them.

itirto 1931 1932 Total profit 9,430,141 5,733,500 0,047,500 Total loss - 400,490 1,901,508 1,849,877 Not £8,979,051 £3,831,933 £4,007,023