COMMERCIAL

Southland Times, Issue 22009, 8 May 1933, Page 2

COMMERCIAL

CITY STOCK EXCHANGE. SATURDAY’S QUOTATIONS. At the call-over on the Invercargill Stock Exchange on Saturday morning the following prices were quoted:— Banks. Australasia, b £lO 2/6. National of New Zealand, b 70/-. New Zealand, b 45/-. Breweries. New Zealand Breweries (shares), b 29/9. Coal. Westport Coal, b 13/6, s 13/10. Kaitangata, b 20/6, s Insurance. National, b 16/9. New Zealand, b 48/9. South British, b 65/-. Standard, s 53/6. Loan and Agency. Goldsbrough, Mort and Co., b 22/-. Trustees’ Executors (Dunedin), b 47/6. Meat Companies. N.Z. Refrigerating (20/- paid), b 10/9, s 11/3; (10/- paid), b 3/9, s 3/11. Southland Frozen Meat (£1 ord.), b 43/-, s 44/—; (10/- ord.), b 21/6, s 22/-; (£1 pref.), b 43/-, s 44/-. Mining. Mount Morgan, b 36/6, s 37/6. Gillespie’s Beach, b 1/5, s 1/6. Waitahu, b 5/-, s 5/6. Kildare, b 1/11. King Solomon, s 1/11. Mount Lyell, b 20/-, s 21/6. Okarito, b 9/4, s 9/6. Paddy’s Point, b 5/3. Waihi Grand Junction, b 3/9. Freshford, b 1/4. Nokomai, b 5/2. Central Shotover, b 1/1. Shipping. Union Steam Ship Co. (pref), b 22/-. Woollen Mills. Kaiapoi (pref.), b 5/-. Miscellaneous. Australian Glass, b 46/-. British Tobacco (Aust.), b 33/0. D. (ord), b 9/-, s 11/-; (pref.) b 18/-. Donaghy’s Rope and Twine, b 35/-. Milburn Lime and Cement, b 26/-. New Zealand Drug, b 64/-, s 66/6. N.Z. Farmers’ Fertilizers, s 16/3. New Zealand Paper Mills, b 25/-. Wilson’s (N.Z.) Portland Cement, b 33/-. Woolworths, (pref.) b 30/-. Debentures. 3J Stock, 1938, b £99. 3i per cent. Stock, 1939, b £99. 4 per cent. Stock, 1940, £99 15/-. Sales Reported. E. S. and A. Banks: 84/6. Commercial Banks: 14/4. Gillespie’s: 1/5. Mount Morgan: 37/- (on change). NORTHERN EXCHANGES. (Per United Press Association.) Wellington, May 7. Sales on ’Change: 4 per cent. Bonds, 1940 £lOO 7/6, 1946 £lOO 7/6; Bank of New Zealand 45/7; New Zealand Insurance 4/9 (all late Friday); Wellington Woollen ordinary £5 1/-; Staples 25/3; Farmers’ Auctioneering B pref. 11/-. Christchurch, May 7. Sales on ’Change: £5OO N.Z. Government 3} per cent. Inscribed 1938-43 £99 15/-, £2OO N.Z. Government 4 per cent. Inscribed 1940 £lOO 3/6, 50 Bank of New Zealand (cum. div.) 45/6; 'lOO Tooth’s Brewery 36/6, 5 Colonial Sugar £54 12/6, 100 Electrolytic Zinc (pref.) 30/4, 500 Central Shotover 1/I}. Sales reported; 100 Tooth’s Brewery 36/4.

THE RIALTO. William Todd and Coy., Ltd., report the following sales for week ending May s:— Pigs: 242 entries. Supply in excess of demand. Small weaners 3/6 to 6/-; well grown 6/6 to 9/3; small stores 11/- to 16/9; porkers 17/6 to £1 17/-; Berkshire boar £2; sow and litters £1 14/- to £2; Berkshire boar £3 3/-. Poultry: Hens 1/- to 1/6; heavy breeds 1/7 to 2/-; ducks 1/3 to 1/5; geese 2/6 to 3/-; small Black Orpington pullets 2/2 to 2/3, well grown 3/6 to 4/-; White Leghorn pullets 3/- to 5/7; roosters 1/4 to 2/-; Muscovy ducks and drakes 2/11 to 3/6; Minorca pullets 3/9; Brown Leghorn pullets 3/-. Dairy Cows: Near profit £6 10/-, £7, £7, £5 5/-. Torses: Two draughts and leading horses’ harness £42 10/-; 1 draught £22; 1 aged draught £6. Bacon Pigs: Heavy supplies. We are cash buyers of bacon weights 120 to 1501bs at 31d, freight paid. Produce:—Table potatoes £4 to £4 10/-; onions 1001 b bags 6/-; chaff £3 to £3 5/-; straw £3; hay £3 15/-; oats 7/-; barley 12/-; wheat 13/- to 14/-; barley pollard 11/6; bran 6/6, pollard 8/-; oatdust 4/6; Molasses 13/6 cwt.; rock salt 8/-; Meat Meal 11/-; Liver Meal 11/-; Moose Meal 16/-; Moose Nuts 15/-; oyster shell grit 6/cwt.; Farra food 7/6; special poultry food 7/6. Miscellaneous: —Barb wire 28/6 cwt.; No. 8 galvanized wire 20/-; No. 9 21/-; fowl netting 12/-; sheep netting 19/-; rabbit netting 19/-; 6ft netting 22/-; kauri washtubs £2 15/-; portable boilers £4 5/-; scalding trough £2 5/-; plunge baths 65/-; sashes 10/-; timber 13/- to 15/- 100 ft; stakes 20/-; droppers 10/- to 12/-; totara posts £4 to £5 100; horse collars 35/-; horse covers 26/-; cow covers 12/6 to 15/-; rabbit traps, wire spring 20/- dozen; pegs 1/6; rabbit nets 6/-; mutton birds, new season’s, small kits, 6d; honey 101 b tins 4/6; pickling casks 7/6; wheelbarrows 25/-; garden rollers 30/-; Ceylon tea 51b boxes 12/6; 401 b chests 2/3 lb. Vegetables:—Cabbage 1/6 to 2/dozen; carrots 6/- cwt.; parsnips 8/-; swedes 1/- to 1/6 bag; cauliflowers 4/dozen. NATIONAL HORSE FAIR. The National Mortgage and Agency Co., Ltd., monthly horse fair was conducted in their yards (Gore) on Saturday afternoon. There was a small yarding, the demand was restricted and competition not very brisk. The sales were as follows:—Black gelding, 7yrs, £l9; black mare, Byrs, £18; bay gelding, 7yrs, £29; grey mare, 4yrs, £3O; bay gelding, syrs, £2B. Hacks: Bay gelding, 9yrs, £1 10/-; bay gelding, aged, £1 15/-; aged pony £2. Passed in: Aged mare, £2; bay gelding, syrs, £2B 10/-. GOLDEN SANDS. (Per United Press Association.) Christchurch, May 6. The mine manager of Golden SaAls Ltd., Barrytown, telegraphs that 35

ounces for 28 shifts of 8 hours were obtained. DAIRY PRODUCE QUOTATIONS. Messrs H. L. Tapley and Co., Ltd., South Island agents for the AngloContinental Produce Co., London, have received the following cable: — Butter: 72/- to 74/-. Market quiet. Cheese: White 41/-; coloured 47/-. The South Island Dairy Association report having received the following advice from the N.Z. Producers’ Association: — New Zealand Butter: Steady. 72/to 73/-. Danish 96/-. New Zealand Cheese: Active. White 41/- to 42/-; coloured 47/- to 48/-. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, May 5. Gold is quoted at £6 4/8 per oz. NEW ZEALAND APPLES. (United Press Assn.—Telegraph Copyright.) London, May 5. Apples are about Wednesday’s prices. The Coptic’s New Zealand apples realized:—Cox’s, 9/- to 12/6: Jonathans, 10/- to 11/3; Delicious, -J/- to 10/6; Dunns, 10/- to 11/3. The Port Pirie’s Otago apples brought:—Jonathans and Delicious, 11/- to 12/6; Coxs, 13/- to 17/-. METAL MARKET. (United Press Assn.—Telegraph Copyright.) London, May 4. The following are the official quotations:— Copper: Standard, £32 6/3 per ton; forward, £32 8/9. Electrolytic Zinc: Spot, £35 15/-; forward, £36 5/-. Wire bars, £36 5/-. Lead: Spot, £ll 7/6; forward, £ll 13/9Spelter: Spot, £l4 18/9; forward, £l5 6 /3- , Tin: Spot, £177 7/6; forward, £l/7 18/9. Silver: Standard, 19gd per oz.; fine, 20Jd. FOREIGN EXCHANGES. (British Official Wireless.) Rugby, May 6. The following rates of foreign exchange are current to-day compared with par:— Par. To-day.

Shanghai, tael 1-30 H"ly Yokohama, p. to yen. 24.582 1.2 21-32 WINNIPEG WHEAT QUOTATIONS. (United Press Assn.—Telegraph Copyright.) Winnipeg, May 5. Wheat closed two cents up to-day. May, 65} cents per bushel; July, 66}; October, 68g. NEW YORK MONEY MARKET. (United Press Assn.—Telegraph Copyright.) New York, May 5. The pound rose eight cents to four dollars and closed at 3.98*. The dollar weakened generally. CANNED FRUITS. NELSON INDUSTRY AFFECTED. PROPOSED TRADE TREATY. A cable from Melbourne recently stated that the new trade treaty between Australia and New Zealand provides, amongst other things, that Australia is to have the New Zealand market for dried and canned fruits and certain fresh fruits.

On interviewing Mr Milner, managing director of S. Kirkpatrick and Company, Limited, a Nelson Mail representative was informed that he (Mr Milner) doubted if the message was correct, as far as canned fruits were concerned. The terms of the treaty will not be announced until both Governments have had an opportunity of considering them, and will then remain, to be ratified by the respective Parliaments. Mr Milner stated that it was absolutely essential and imperative, to the fruit canning and fruit growing industries of New Zealand, that at least the present duties on imported canned fruits from Australia be maintained. The industry of fruit canning in New Zealand had developed rapidly in the past few years. New Zealand was now able to cater for its own requirements ni canned fruits, peaches, apricots and pears, and small fruits. Fruit canning was dove-tailed with the primary industry of fruit growing. Fruit growing supported many New Zealand families in close settlement, for which the industry was particularly adapted. Fruit canning was a very valuable secondary industry and was fully entitled to adequate protection. Thousands of pounds were invested in fruit canning and fruit growing in New Zealand, relying on repeated Government promises of reasonable tariff assistance and encouragement. Fruitgrowers had increased their areas and substantial additions to factories and canning plants made.

Kirkpatricks now purchased for canning all the canning pears grown in the Nelson district, purchase large quantities of canning apricots from Otago, besides taking all canning peaches grown by local orchardists, and had established a large peach orchard of the very best selected canning varieties of peaches—some 250 acres. In conjunction with Thompson and Hills, Ltd., of Auckland, Kirkpatricks were now planning for a new canning factory in Dunedin. In Australia the fruit canning industry was nursed, and was maintained by high protective tariffs, and had been State-aided by means of substantial subsidies, bounties and rebates. To reduce the present duties on canned fruits would jeopardize the industries of fruit growing and fruit canning, emphasized Mr Milner, and also definitely injure allied industries such as timber milling, label-printing, coal-mining, sugar-refining, and throw hundreds out of employment.

“The problem does not end with what might seem a selfish desire on our part,” added Mr Milner, “to urge for adequate tariff protection. The problem is bigger than that, for you must add to the number of people employed in the New Zealand fruit canneries, the thousands of farmers who grow fruit, the hundreds of other people who owe their livelihood directly and indirectly to the prosperity of the industry. And so the endless chain goes on—to the printer’s staff who design the labels, timber mills that prepare the timber and make the cases, and the miners who obtain the coal. To live in com-

fort, all these people require food and clothing, etc., all making employment for somebody. No matter how one may reason, the effect of reduced . tariff on canned fruits eventually influences every individual in New Zealand. Every shilling spent in producing New Zealand canned fruits requires that the full spending power of that shilling remains in New Zealand, building for prosperity.”

Paris, fr. 124.21 843New York, dol. 4.866 3.98 Montreal, dol. 4.866 4.52 Brussels, belga 35.00 23.90 Geneva, fr. 25.22 17.27 Amsterdam, fr. 12.10 8.30 Milan, lira 93.46 64 Berlin, f.m. 20.42 14 5-32 Stockholm, kr 18.159 19.30 Copenhagen, kr. 18.159 22.45 Oslo, kr. 18.159 19 9-16 Vienna, sch. 34.585 31| Prague, kr. 20.02 112 Helsingfors, mark 124.23 2261 Madrid, kr. 15.225 38 15-16 Lisbon,, escu. 4J 110 Athens, dr. 375.00 580 Bucharest, lei. 25.225 560 Belgrade, kr. 247J Rio de Janiero, mil. 5.898 5 nom. Buenos Aires, dol. 47.57d 421 Montevideo, dol. 45.57d. 34J nom. Bombay, rupee — 1 63-64 •i on -11 1 a