LONDON MARKETS BUOYANT

Southland Times, Issue 23025, 20 October 1936, Page 3

LONDON MARKETS BUOYANT

DEALING EQUAL TO 1929 BOOM (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, October 18. Largely on account of buying in which dealings sometimes equalled the boom of 1929 and which covered the period of devalution by the gold bloc countries and the introduction of the Morris Motor shares, trading on the stock markets ended firmly. The tone throughout was confident and unshaken, even by Continental politics which, moreover, have resulted in more capital coming to Britain and thereby increasing the abundance of money. There was “bullish” pressure on investments. Nevertheless, the chielf reason for the buoyancy was the steady rise in primary products, resulting in progressively increasing industrial profits. The prospect of an improvement in international trade and finance was early marked by profit-taking in industrials which kept values at a reasonable level, after which gilt-edgeds were most prominent, especially British funds. Dominions were firm, but foreign loans, especially German, reflected the international anxiety. Australian Kangaroo and New Zealand choicest butter, after an erratic week, 'firmed at about 96/- a cwt. The previous high prices checked the. demand, while the heavy stocks arriving found buyers well supplied. SYDNEY STOCK EXCHANGE INVESTMENT SHAKES AGAIN HARDEN. (United Press Assn.—Telegraph Copyright.) (Rec. 8.10 p.m.) Sydney, October 19. On the Stock Exchange investment shares again hardened. Henry Jones touched a new high level and Bank of New South Wales equalled the best rates of the year. Retail houses continued to strengthen.

Melbourne Sales. There was a strong market for industrials and barriers. Gold shares were quiet.

FRUIT STATISTICS QUANTITIES SOLD. The annual collection of agricultural and pastoral statistics undertaken over the Dominion during the early months of the year showed that 11,414 holdings of one acre or over situated outside of boroughs contained 25,072 acres of orchard, 22,401 acres being in bearing. The following table shows the quantities of fruit sold and held for sale for the season, 1935-36. Quantity Held for sold. sale. bushels bushels Apples 2,605,100 372,200 Pears 321,500 27,400 Sweet oranges 4,600 900 Poorman oranges 24,700 3,000 Lemons 108,600 11,700 The number of sweet orange trees bearing was 10,100, while 9400 were not bearing. There were 11,900 trees of Poorman oranges bearing and 8900 not bearing, and 57,000 lemon trees bearing and 33,700 not bearing. POTATO CROPS SUPERIORITY OF CERTIFIED SEED. Figures analysed by the Government Statistician relating to the Dominion’s potato crop last season show the superior yielding capacity of certified as against uncertified seed. It was only possible to obtain particulars covering 57 per cent, of the total area in the Dominion, but these are evenly spread over the Dominion, and may be taken as truly representative. The yield an acre according to varieties is as fol-

The superiority in yield an acre in the three principal specified varieties, Auckland Short Top, Dakota and Arran Chief, is 28 per cent., 30 per cent, and 18 per cent, respectively. In the very large group of mixed and other varieties certified seed yielded 28i per cent, more an acre than uncertified seed. Comparison of the Dominion average yields for certified and uncertified seed shows a superiority of the former amounting to one and a-half tons an acre, or 25 per cent. DAIRY PRODUCE LONDON MARKET REPORT. By arrangement with the Primary Products Marketing Department the following information is supplied, prices for the previous week being given in parentheses:— Butter.—New Zealand salted, 95/- to 96/- (100/- to 102/-); equals ap-,

proximately ll.lSd f.0.b.; unsalted, 100/-; Australian salted, 96/- to 97/(100/- to 102/-); unsalted, 100/- (101/to 103/-). There was an improved demand at the end of last week. Danish, 100/- f.0.b., 121/- spot (106/- to 126/-); Dutch unsalted, 86/- to 92/- ex. 93/(96/- to 98/-); Siberian salted, 88/- to 89/— (93/- to 94/-); Ukranian salted, 88/- to 89/- (92/- to 94/-); Polish salted, 78/- to 85/- (80/- to 85/-); unsalted, 82/- to 85/- (82/- to 86/-). The market is quiet. The New Zealand retail price was reduced to 1/-; Danish is unchanged at 1/3. Cheese.—New Zealand white 68/- to 68/6, 7.70 d f.o.b. (69/6 to 70/-); coloured 65/-, 7.30 d f.o.b. (66/-). More doing at the end of the week. Canadian white and coloured, 68/- to 69/-; c.i.f. 66/- (67/-); old season’s white, 80/- to 82/- (82/-). The market is steady. The New Zealand retail price is unchanged at 8d and 9d. English finest farmers (firm), 80/- to 84/- (82/- to 84/-); English factory cheese, 60/— to 66/— (62/- to 65/-).

MINING RETURNS

OKARITO. (United Press Association.) Dunedin, October 19. The Okarito return was 12oz lldwt for 118 hours. WAITAHU. (United Press Association.) Dunedin, October 19. The Waitahu final wash-up on the No. 9 paddock secured a further 50oz for 27 shifts of eight hours each, making a total return of 1470 z 6dwt. Elevating operations alongside Redman’s Creek produced a partial wash-up of 14oz 2dwt,

Sales: — £ s d Bank of New South Wales 35 0 0 South British Insurance 4 11 3 Associated Newspapers 1 3 6 Howard Smith 18 10*2 Australian Gas (A) 7 7 0 Australian Gas (new) 7 6 0 British Tobacco 2 8 0 Tooth’s Brewery 16 9 Winchcombe Carson 1 14 6 Wilcox Mofflin 10 9 Morris Hedstrom 1 6 9 Greater J. D. Williams 7 3 Henry Jones 2 6 3 Fairymead Sugar 1 17 9 Farmers 1 14 0 Davis 1 14 0 David Jones 2 8 6 Horderns 18 10*/ 2 Lustre 1 5 6 Standard Cement 15 3 Rawang Tin 9 4 Koroere \ 5 Mineral Development 19 3

Sales: — £ s d Commercial Bank of Australia 18 7 National Bank (£5 paid) 7 7 0 National Bank (<£10 paid) 14 la 0 General Motors 1 4 0 Adelaide Steam 1 9 6 Carlton Brewery 3 7 3 G. J. Coles 3 17 6 G. J. Coles (rights) 1 15 6 Drug Houses 1 10 4>/ 2 Australian Iron and Steel (pref.) 1 6 6 Dunlop Perdriau Rubber (ord.) 18 1 Dunlop Perdriau Rubber (pref.) 1 14 3 Electrolytic Zinc (ord.) 2 7 9 Electrolytic Zinc (pref.) 2 10 0 Waldas Shoes 2 0 0 Mount Lyell 1 13 6 Broken Hill Propty. 4 0 0 Broken Hill Propty. (rights.) 2 8 l ,2 North Broken Hill 11 0 0 South Broken Hill 6 18 6 Zinc Corporation 4 18 0 Hume Pipe 19 8 Kauri Timber 1 5 6 Yarra Falls 2 0 0 Upper Watut 2 8 Young Husband 1 17 9 Emperor 16 u Loloma 1 3 6

lows:— Certified. Uncertified tons. tons Auckland Short Top 6.02 4.69 Dakota 7.35 5.66 Arran Chief 11.49 9.73 Gamekeeper and Northern Star 6.10 6.12 King Edward VII. 9.74 8.22 Iron Duke 5.03 5.38 Arran Banner 6.17 5.66 Mixed and minor varieties 7.15 5.56 Totals 7.43 5.95