COMMERCIAL

Poverty Bay Herald, Volume LXV, Issue 19694, 28 July 1938, Page 6

COMMERCIAL

BUTTER TRADE QUIET

LONDON' QUOTATIONS

(Eioc. Tel, Copyright—United Press Assn.) LONDON, Julv 26.

The butter market is quiet. Choicest salted New Zealand is quoted at 122 s and Australian at 121 s. Unsalted is at a premium of Is.

The price of 122 s per cwt, for New Zealand 'butter quoted above has been maintained for the past fortnight in the face of large stocks of New Zealand and of all butters in London and provincial stores.

New Zealand stocks last week showed a decline of 1441 tons, to 6446 tons, compared with 5153 tens a year ago. Deliveries during the week totalled 1750 tons. The Imperial Economic Committee's estimate of slocks of all butters in store was 1,242,877 boxes, an increase from 1,109,826 'boxes during the fortnight and 50 per cent higher than the 890,173 boxes stored a year ago.

Stocks of New Zealand cheese held in London declined by over 8000 crates during the past week, when deliveries totalled 18.568 crates.

Prices of New Zealand butter and cheese at the end of last week, compared with those at the end of the previous week, in parentheses, are given below: —

Butter.—New Zealand, salted 121 s to 122 s (121 s to 1225), unsalted 122 s to 123 s (122 s to 1235); Australian, salted 120 s to 121 s (H9s to 120 s), unsalted 120 s to 121 s (120 s): Danish, f.o.b. 105 s (103 s), spot 125 s to 126 s (1235); Dutch, unsalted 112 s to 114 s (110 s to 113 s); Lithuanian, unsalted 115 s (114 sto 110 s). Retail prices were unchanged, both Danish and New Zealand at Is 3d.

Cheese. —New Zealand, white 69s 6d (69s 6d to 70s), coloured 69s 6d to 70s (69s Cd to 70s): Australian, white 60s 6d to 68s (66s to 68s). coloured 67s to 68s (66s \o 68s); Canadian, white 78s to •80s (78s to 80s), coloured 79s to 80s (79s to 80s); English, finest farmers 102 s 6d to 104 s 6d (102 s 6d to 104 s 6d), factory 64s to 66s (665). The New Zealand retail price was unaltered at 9d per lb.

BANK SHARES SOUGHT

AUSTRALIAN 'CHANGES

SYDNEY, July 26.

A slight reaction was noticeable on the Sydney Stock Exchange to-day, but leading industrials held their ground. The demand for bank shares revived.

Sales included: Bank of New South Wales, £3l 7s Gd: Commercial Bank of Sydney, £2O 10s; Colonial Sugar, £4B 12s Gd; Associated News, £1 2s; Huddart Parker, £2 7s Gd; British Tobacco, £2 9s 3d: Australian Glass, £4 lGs Gd; Dunlop Perdriau, £1 2s 9d; General Industries, 19s 3d; Morfs Dock, 12s lid; Nestles,' pref., £1 17s 9d; William Adams, rights, lid; Standard Cement, £1 Is 9d: Malleys, N.Z. delivery, £1 Is 9d; Woolworths, Ltd., £1 2s; Cash Orders, 17s 3d; Sargents, CI 9s lOd: Newbold Brick, £1 14s; Wilcox Moulin, 7s Gd; Morris Hedstrom, £1 7s Gd; Fairymead Sugar, £1 12s; Mount Morgan, lis Id; Mount Lyell, £1 9s Gd; Broken Hill Proprietary, £3 Is Gd; Bulolo Gold, £6 18s; Loloma Mines. £1 2s Gd; Taranaki Oil, 13s 9d.

Morning sales included: Commonwealth bonds, 4 per cent, 1947, £lO4 8s 9d; Commercial Bank of Australia, His 9d; Bank of New South Wales, £3l 7s Gd; Australian Gas, A, £7 9s; Broken Hill Proprietary, Gls 9d; Electrolytic Zinc, 45s 3d; Felt and Textiles, 34s Gd; Gotdsbrough Mort, 28s Gd: Huddart Parker, 47s 6d.

On the Stock Exchange of Melbourne to-day industrials generally maintained their firm tone, but Barriers were inclined to be hesitant. Gold shares were dull. Sales included: Commercial Bank of Australia, lGs 9d; G. J. Coles, £4 4s; Drug Houses, £1 Gs; Australian Glass, £4 lGs 9d; Dunlop Perdriau, £1 2s 8d; Australian Paper Manufactures, pref., £1 Gs; do., new, £1 5s 9d; Cox Bros., 18s 2d: Herald and Times, £3 2s 9d; Yarra Falls. £1 18s Gd; Electrolytic Zinc, pre!'., £2 9s; Mount Lyell, £1 9s Gd: Broken Hill Proprietary, £3 Is Gd; North Broken Hill, £2 9s Gd; South Broken Hill, £1 13s 9d; Zinc Corporation. £4 17s Gd: Emperor Gold. 12s 9d; Loloma Mines, £1 2s Gd.