COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18528, 15 October 1934, Page 10

COMMERCIAL

SYDNEY STOCK EXCHANGE ACTIVE MARKET YESTERDAY SYDNEY, 0 <„• 1. .12, Ou the -Sydney Stuck Exchange tin: turnover in all departincuts was heavy to-dav with .rises far more general than falls.' Sales: Rank uf Now South Wales, .232 12s to!; Commercial Rank of Sydney, ,217 IDs; Commercial Rank of Austral ia, Ids 3d; Colonial Sugar. E7 l >. Associated News, 24s Jtl.ld; ditto, prof.. 235; Rerlei, contributing. 17s 3d; British Tobacco, -lOs Dd; Dunlop I’erdriau, IDs 1 Old. Vincheombe, (.'arson, 29s Dd; Wilcox Mofflin, 10s (id; .Morris Hedstrom. 475; Henry dunes, 335; Ali 1 l;i<jnin sugar. 345; Cairvinead Sugar, ids; Electrolytic Zinc, 27s Dd. Farmers, 23s (id; David dunes, 425; Anthony Hordern, L‘s 9d; Standard Cen eat. IDs (id; A tnalga meted Textiles, 12s; Drug Houses id' Australia, 22s (id; Meggitts, 21s lid; W. If. Carpenter. -H's (id; (icneral Indiisl tit's, l.'is 2d; L 7 n i t e ■ l Provisions, Ds Sd. Mount .Morgan, 31s (id; South Broken Hill. 7.4 s (id; North Broken II ill. 935; Kuala Kampar Tin, Ids lid; I,amt Tin, 13s (id; I’ltu-er I teveiopnien 1. 22 d 13s; Jduratha 'Cold. Ds 3d. (’otimion wea It h bonds, I ‘per cent. 1933, .2107 ds; ID 11, .21 US Ids; 1941, .2110 17s (id; ID 17. .2110 ds: IDdd. 211.1 10s; Hid.;:, .2111 i 7s (id; IDdd, .2112; 1937, .2112 3s 9d; 1939, .2113; 19(11, ;2111 Ids. MELBOURNE, (Jet. 12. Sales on the Melbourne Stock Exchange to-day included : —( ’tint me rein 1 Bank of Australia, His Id; British Tobacco. 10s; Howard Smith, ids; North Broken Hill. 9,35; Taranaki Oil. Is HI. WOOL AND EXCHANGE EFFECT ON FRIGES Messrs. Wiuehcombo, Carson. Limited, report: “The wool market in Australia has reached a level at which it might readily attract the interest of the world’s users, being only 10 per cent to 1-d per cent above the level ut February and April, 1933, from ’which point last season’s remarkable advance developed. In addition, rates of exchange for countries on the gold basis ate more favorable for tlie'purchase of raw material than 17 to LS months .ago. During February to April, 1933, the French franc, by way of illustration, was quoted at S 7 to 3D to the English £. It has latterly been quoted at 74 to 75, about 13 per cent less French money being required to purchase wool thau at the time mentioned. Values, combined with exchange, have, #onfrequently, receded to a basis which makes tvool cheap. “A large consumption of it proceeded when its cost in terms of gold was approximately equal to the figures at- which it can now be bought. Exports of goods from the continental countries .have decreased substantially during the past two years, partly owing to tariffs, .also rates of exchange, the quota and the German embargo; but it woollen goods cannot be sold freely either internally or for export, with the raw material on its present level, there is certainly something radically amiss with the use ol ‘the sheep’s staple.’ Faulty pieces and bellies, for ■example, have very rarely been much cheaper than recently, providing low costing raw wool for the production of cheap woollen goods for the bulky popular trade. “Admittedly the textile business is still faced with the fact that the German mills have resorted to the use of substitute fibres in conjunction with wool, and have thereby reduced the use of the world’s clip in that important consuming quarter; but if Germany curtails her consumption by onehalf* which is doubtful, she would still be utilising 300,000 bales of imported wool annually. As a matter of fae‘t, world production of the staple has fully decreased that quantity during the past two years. The South African dip alone this season is likely to -be about 230,000 bales less than a few years ago.” THE MEAT MARKET SMITIIFIELD QUOTATIONS LONDON, Oct. 13. Latest quotations on the Smith field meat market are as follows: — New Zealand sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, -IS to 3G!ib, 4;(d; 37 to G-llb, -Ljd; (53 to 721 b, 4pi; North Island, IS to ulilb, ■t;;d; 37 to Glib, 4jjd; (53 to 721 b, ltd; ewes under 48ll>, 3-i[d; 43 to Glib, 3gd; Go to 721 b, 3 id. Australian sheep.—First quality crossbred and merino wethers, lo 651 b, 3j[d; second quality, 39 In 331 b, 3 MI. Argentine sheep.—-First. ((utility crossbred wethers, -IS to fill'd, -ljd; Goto 721 b, Id, Patagonian sheep.—Wethers and/or maiden ewes, under 301 b, Id; 30 to 001 b, 3Jd; ewes. 10 to 301 b, none offering. New Zealand lambs.—'Canterbury. 3G]b and under. 7d; 37 In -12 lb, fipl; 13 to 301 b, l:}d; second quality, average about 321 b, Gpl; other South Island, 3til'll and under, 7d; 37 to 421 b, Gjd; 13 to 50!b, 3:{d; selected North Islands, ineludings ’Downs, 3fiib and under, 7.|d; 37 to 421 b, Gijd; 13 to 30lb.

5 ) ij; second quality, 301 b and under, Gpl; 37 to 421 b, Old; second quality, average about ill'll), G J ,d.

.Australian lambs.—Victorian, first quality, 301 b and under, (id; 117. to 4211), old; other States, first quality, 301 b and under and 37 and 421 b, none offering; Victorian, second quality, 301 b and under, old; other States, second quality, 301 b and under, 5Jd; all States, third quality, average about 201 b, .rid. AVgeatiue lambs. —First quality, 301 b and under. 0:{d; 37 to 121 b, 0 : |d; second quality, average about 28lb, (id. Fatagonian lambs:—None offering. New Zealand frozen feeb.—Ox ton's, 100 to 2201 : b, 2»d; ox hinds, 100 to 2201 b, ;;;«i. New Zealand frozou beef.—Ox fores, J(10lb and under, 2:.;d; over 1001 b, 2,01; ox hinds, llifllb and under, 3 Id; over Aigentine ehillcd bei'f. —Ox fores, 1001 b to 2201 b, ,‘i-jd; ox hinds. 160 to 22011.1, old. New Zealand pigs.— First quality, GO to 8010, 001; 81 'lO 1001 b. tjg.l; 101 to 1201 b, Gild. Australian pigs.— First quality, 00 t.i 1001!., average SOib, 0;jd; 101 to 1201 b, (ijjd. ENGLISH EGG MARKET MORE CONFIDENCE SHOWN LONDON, Oct. 13. Although the weather still remains warm, egg production on the Continent and in England is becoming smaller, and the market firmer, as buyers are showing more confidence. It is officially announced that a slight cut is being made in foreign egg imports. This is not binding, Out is regarded as a “genl lonian’s agreement,” as the result of diplomatic persuasion by representatives of the Ministry of Agriculture who visited the principal exporting countries. Linder this agreement there will be a reduction of ;> per cent in the quarter commencing October i. and 10 per cent in the new year. It is expected that this will continue for another year. MINING NEWS Elaci; water Mines, Limited (Reefton), reports the following returns for September (August figures being given in parentheses): —Crushed, 3700 tons (40UU tons), yielding 1757 fine ounces of gold valued at £7 au ounce, £12,309 (£13,092), valued at £0 ISs a line ouuee); working costs, £SBOO (£<H01); working profit, £0709 (£0931); capital expenditure, £ll3l (£1025); development, £OB2 (£OO-1). _. Yields of companies.—Golden Sands ( Bally town): 320 z. for 30 shifts of eight hours each. Moonlight, Nelson Creek (West Coast): 20oz. lOdwt. for four months’ work. A 'belt of heavy boulders hampered operations throughout. . . Sovereigns reached the record high level of 40s 9cl each in Sydney last week. This price, which was offered by both the Commonwealth Bank and the Bank of New ‘South Wales, represented a rise of 2d upon the previous day’s quotation. A record in the price received for gold in Australia was made when a sale returned to sellers £8 15s (id an ounce line. A butter war is raging at Dan novirke. Finest table butter is beingsold over the counter by storekeepers at 5d a lb.

There was an exceptionally good demand for medium-weight good-type farm horses at the sale of horses held at Feilding recently. Horses from five to eight years were sought after, up to £SO being paid for good animals. The market was more restricted for aged horses. .