COMMERCIAL

Southland Times, Issue 22465, 28 December 1934, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS. ■ Times Office, Friday Morning Fruit and Vegetables. As usual at this time of the year business has been very brisk during the last week, and record quantities of seasonable fruit changed hands. Tomatoes have been unusually scarce, and prices remained firm at 1/- to 1/4, but increased supplies may be expected after the New Year.

Raspberries and loganberries are coming forward steadily, and the season, which promises to be a very short one, will soon be at its height. Strawberries are finished, with the exception of small quantities of locals. Apricots and peaches are also in good supply and here again it is reported that heavy crops are expected, and dry, hot weather will tend to hasten the season. Prices were 2d to 3jd for choice quality. Cherry plums are also to hand. Cherries are now nearly finished Choice specials last week realized 1/to 1/4, inferior grades lower prices accordingly, and supplies have already begun to ease off. Supplies of cool stored apples appear to be finished, but new season’s fruit will be on the market almost immediately. Bananas sold readily to a keen demand, and the next shipment, due January 9, will arrive to a bare market. A small quantity of oranges is still in wholesale hands, and these will be required for New Zealand trade Lemons, both New Zealand and imported, have a steady demand, and supplies are sufficient.

Current Prices. Wholesale. Eggs, lOd. Bacon, IOId to lljd. Bran, £5 5/-. Pollard, £6 15/-. Butter, factory, 91d; separator, 5d to 6d. Flour, £l4 12/- to £l5 17/-. Oatmeal, £l9 to £23. Retail. Eggs, 1/-. Bacon, 1/1 to 1/2. Pollard, 8/- per 1001 b. Butter, factory, lOd to lid; separator, 7d to Bd. Bran, 6/9 per 1001 b. Flour, 25’s 4/6; 50’s 8/9; 100’s 17/-; 200’s 33/6. Oatmeal: 25’s 6/9, 50’s 13/-. Onions: 4d lb. CHICAGO WHEAT MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8.35 p.m.) New York, December 26. Chicago wheat.—December 98g, May 991, July 93 5. New York (cash) 107 3 cents a bushel. METAL MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.55 p.m.) London, December 26. Metal quotations are as follows:— Dec. 21 Dec. 26.

A BRIGHT YEAR. SHARE DEALINGS IN SYDNEY. RECORD FOR MINING. Sydney, December 21. When the Sydney Stock Exchange closed its doors for 1934 members were able to look back on the brightest year’s business since 1928. The Stock Exchange must always be regarded as a true reflex of the state of business generally, and that being so, Australia has made great progress towards recovery after depressing years. Investment transactions have been on an exceptionally heavy scale, and prices on the whole, have risen considerably. On the mining side the volume of business is said to have exceeded all previous annual records, surpassing even the Western Australian gold boom of 40 years ago. Stable government in the Federal and state spheres has provided a basis for confidence among the investors. Other principal factors influencing the market have been falling money rates, increased company profits and dividends, the rise in the price of gold, and last year’s sharp advance in wool prices. Two important groups of shares —banking and pastoral—did not participate in the year’s upward movement, owing mainly to the fall in interest rates and in wool values this season.

Here is a representative list showing current prices of shares, and those at the close of the Stock Exchange last

In Stock Exchange circles the future is faced with optimism, although it is recognized that the heavy fall in wool values is a disturbing factor. Nevertheless, with continued expenditure of Government money on relief and other public works, the principal industrial and trading companies should be able to earn profits at least comparable with those shown in the accounts for the last year. Should the general level of money rates rise, the complementary movement would be a decline in the market prices of and nthor fijtcJ-lncome securities. It is stated, however, that bank deposits continue to exceed the demand for commercial overdraft accommodation, and that, in the circumstances, the banks are likely to be considerable investors in Government stocks which should tend to keep prices up.

SYDNEY PRODUCE MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.35 p.m.) Sydney, December 27. Wheat—Not quoted. Flour—£7 5/-. Bran—£s. Pollard—£s 5/-. Potatoes—Tasmanian, £10; Victorian, £8 10/-; local new, £B. Onions—Victorian Brown, £8 10/-; Queensland Globes, £l3. Maize—Yellow and white, 3/3. BUILDING TRADE. INCREASED ACTIVITY CONTINUES. The progress of building activity as indicated by the number and value of permits issued in the larger towns, experienced a slight setback in November, the total value represented by permits issued during that month being £327,020, as compared with £391,883 in October. Despite this fall of 16.6 per cent., the November total is still considerably above the monthly figures recorded during' the period AprilSeptember. Permits issued during the month for the erection of new dwellings were 246 -in number, as compared with 303 in October. The value represented by these permits was, however, slightly higher in November than in the previous month, owing to the figures for November including a permit for the erection of a large block of flats.

£ s d £ s d Copper— Standard spot 28 6 101 28 8 9 Forward 29 15 7-i 28 16 101 Electrolytic 31 10 0 31 10 0 to 32 0 0 32 0 0 Wire Bars 32 0 0 32 0 0 American 3 cents — Lead — Spot 10 8 9 IP 7 c Forward 10 8 9 10 10 0 Spelter— Spot 11 13 9 11 13 9 Forward 12 1 3 12 1 3 Tin— Spot 227 13 9 227 18 9 Forward 228 6 3 228 6 3 Silver— Fine, per oz. 23 13-16d 23 15-16d Standard, per oz. 25 ll-16d 25 13-16d

year:— Dec., 1983. Dec., 1934. £ s d. £ s. d. Bank of N.S.W. Com. Banking of 32 7 6 31 17 6 Sydney 17 7 6 17 13 0 North Coast Steam 1 16 0 2 3 9 Merc. Mut. Insur. 0 19 411 4 9 Australian Gas 7 11 0 8 2 0 Tooth’s Brewery 2 5 0 2 10 9 A. Hordern 0 13 11 0 18 10J Associated News 1 1 6 1 5 10| Australia Hotel 1 6 0 1 10 6 Australian Glass 2 10 9 3 2 0 British Tobacco 1 17 9 2 1 3 Broken Hill Pty. Burns, Philp (ship2 3 6 2 12 9 ping) 2 15 0 3 3 6 Commonwlth. Wool 1 Cumberland 0 0 0 19 0 Paper Dunlop Perdriau 1 9 9 1 13 6 (rubber) 1 0 0 1 0 0 Electro. Zinc Farmers’ (retail 1 6 3 1 3 3 store) Goldsbrough, Mort 0 19 71 1 6 9 (pastoral) Henry Jones 1 15 3 1 10 6 (fruit) 1 14 0 1 15 6 J. Fielding John McGrath 3 1 6 3 16 0 (motors) 1 7 0 1 16 9 Kandos Cement 1 0 9 1 3 6 Lustre Hosiery Mark Foys (retail 0 19 411 7 6 store) 0 14 3 0 16 0