COMMERCIAL

Southland Times, Issue 20669, 15 December 1928, Page 2

COMMERCIAL

DUNEDIN MARKETS. BENEFICIAL RAIN. (Per United Press Association.) Dunedin, December 14. It is reported that rain has been fairly general right through the wheatgrowing areas in the Otago district, indeed a very considerable quantity of rain has fallen in the Oamaru district. The rain came just in time to tide over a critical period and unless something unforseen now happens, it can be assumed that there will be good average yields of wheat next season throughout the South Island. At present little interest is being shown in the wheat market by millers. Not much wheat is offering in the Otago district, but an occasional sale is still being made to millers of good quality. Tuscan at 5/9, sacks extra, on trucks, Canterbury stations. Hunters are quoted at up to 6/2, sacks extra, on trucks, but there is not much of this variety available. The volume of business in fowl wheat is small. Occasional lots are going to the North Island from Canterbury where sales have been made at 5/71 to 5/8, f.0.b., sacks extra, in Otago district. Good quality is w’orth 6/- per bushel, sacks extra, ex merchants’ stores. Local supplies are being drawn from Canterbury where the /-hipping value is equivalent to the Dunedin ex-store price. After a long period of a stationary market there is now a further feeling of weakness in oats. This is the result of continued lack of consumptive demand and also of improved prospects following on the recent rains. Up to 4/1, f.0.b., s.i, is still being asked for A Gartons and there are sellers for forward delivery next season from April onwards at 3/8«. Occasional inquiries are being received for B’s, w’hich are worth 3/7, f.0.b., s.i., for shipment to the North Island. Values to growers are 3/3 for A’s and 2/9 for B’s, sacks extra, on trucks country sidings. The chaff market remains firm notwithstanding that the demand is very limited. Only small consignments are arrriving and these are just about equal to requirements. There is no quotable change in values. Good quality chaff is worth £l5 15/- per ton, sacks extra, ex trucks and ex store. The quotation is £6. Supplies of old potatoes are now exhausted. Merchants are not dealing to any extent in new tubers, which are being distributed in small lots. Little business is passing in any lines of seeds. The recent rains have greatly improved prospects for the coming season’s crops and growth is reported as fairly good in most of the seedgrowing areas. In the meantime merchants are not inclined to operate in any lines until the new harvest commences to come in. Fruit Report. Supplies of locally-grown apples from the cool stores are practically finished and only a few cases of Stunners and Rokewoods are now reaching the market. Only choice Stunners are inquired for. Rokewoods are hardly worth sending to the market. A fair-sized shipment of American apples will arrive ex the Katoa, due from Auckland on Sunday. She is bringing transhipments of Hawaiian pineapples. A few lines of pears from cool stores are still available. These are on the small side and are hard to place. The Maui Pomare, which arrived this week from Samoa, brought about 3,000 cases of bananas. The quality was excellent and the market could have absorbed more. Good supplies of tomatoes are arriving from Christchurch, but prices are firm.

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s meeting of The Invercargill Stock Exchange, the following prices were quoted:— Commercial Bank: b 30/2, s 30/6. National Bank of New Zealand: s £7 4/6. Bank of New South Wales: b £5O. Bank of New Zealand: b 62/-. Union Bank of Australia: s £l5 8/6. Westport Coal Co.: s 30/3. Weetport Stockton Coal Co.: (ord.), s 3/6; (8 per cent, non-cum. pref.), s 4/6. National Insurance: s 16/6. New Zealand Insurance: s 47/-. Standard Insurance: b 63/-. Dalgety and Co. : b £l5 2/-. Goldsbrough, Mort and Co.: b 51/6. Perpetual Trustees (Dunedin): b 64/-. Wright, Stephenson and Co.: (ord.), s 26/-; (pref.), b 16/-. New Zealand Refrigerating Meat Co.: (20/- paid), s 20/-; (10/- paid), s 9/9. Southland Frozen Meat Co.: (£1 ord.), b 38/6; (10/- ord.), b 19/3; (£1 pref.), b 38/6. Mount Lyell Mining Co.: s 39/6. Electrolytic Zinc Co.: (ord.), b 34/6; (pref.), b 36/-. Howard Smith Shipping Co.: (ord.), b 24/-. Huddart Parker Shipping Co.: (ord.), b 48/-. Kaiapoi Woollen Mills: (ord.), b 13/9; (pref.), b 14/6. Mosgiel Woollen Mills: b £7 3/-. Colonial Sugar Co.: b £59 10/-. D.I.C. (ord.l: b 10/- premium. Dominion Rubber Co.: s 28/-. Milburn Lime and Cement: b 35/-, e 36/-. New Zealand Breweries, Ltd. (shares) : b 54/-; (stock), b 25/-. New Zealand Drug: b 71/-. New Zealand Guarantee Corporation: s 8/9. New Zealand Milk Products: s 23/-. New Zealand Paper Mills: s 16/9. Wilson’s (N.Z.) Portland Cement, b 41/-. Dominion Investments: b 23/6. Inscribed Stock (1938) : b £99 7/6. War Bonds (19381: b £99 7/6. Inscribed Stock (1939) : b £99 7/6. War Bonds (1939): b £9O 7/6. Soldier Settlement Loan Bonds: (1933) 5a per cent, (not free of income tax), b £lOl. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, December 14. Sales on ’Change:—Mt. Eden Borough (1936) 5< per cent. £lO2 10/-; Tamaki West Road Board (1959) 5| per cent. £lO2 10/-; Bank of New Zealand 61/6, 61/6; New Zealand Insurance 45/6; Pukemiro Collieries 66/-; Renown Collieries 15/-; Auckland Gas 23/8; Northern Steamship 13/3; New Zealand Breweries 57/-; Sanford, Ltd., 17/6; Ohinemuri 8/-; Waihi 14/6. Wellington, December 14. Sales Reported :—New Zealand Breweries Bonds 25/6; Bank of New South Wales £5O 7/6; Pukemiro Collieries 65/6; Commercial Bank 30/10; Auckland Gas 23/9. Christchurch, December 14. Sales on ’Change:—Christchurch Drainage Board 54 per cent. (1973) £lOO 10/-; Bank of New Zealand (“D” mort. shares) 28/1; National Insurance 16/2; National Mortgage 88/6; Christchurch Gas 27/-, 26/9; Timaru Brewery 18/- (2 parcels) ; New Zealand Guarantee Corporation 8/5; Mahakit awa 1/3 (8 parcels). Sales Reported:—United Building Society 16/-; Auckland Gas 23/9 (2 parcels); New Zealand Guarantee Corporation 8/5; Waihi 14/7. Dunedin, December 14. Sale on 'Change: New Zealand Breweries Shares 57/-. Sale reported: New Zealand Breweries Shares 57/9.