TRADE TREATY ASSAILED

Sun (Auckland), Volume III, Issue 690, 15 June 1929, Page 12

TRADE TREATY ASSAILED

AUSTRALIAN AND N.Z. BUTTER IN CANADA MINISTER NOT DRAWN ( Australian and N.Z. Press Association) I (United Service) Reccl. 9.5 a.m. OTTAWA, Friday. | The importation or' Australian butter j formed the basis of an attack on the Australian and New Zealand trade treaty in the House of Commons on Thursday night. Mr. I. D. Cotnam, Conservative, sought to have the Minister of Agriculture, the Hon. W. R. Motherwell, declare himself on whether the provisions of the treaty in respect of butter were no longer feasible. The Minister refused to discuss what was a matter of Government policy. “I will make a careful survey of the situation,” the Minister promised, adding: "As a matter of fact the butter industry Saskatchewan is showing a very POTATO MARKET FIRM POSITION IN CANTERBURY Press Association CHRISTCHURCH, Friday. Potatoes continue to monopolise most of the interest in the grain and produce market. Today they show a slight shade of improvement. The actual price has altered by no more than 2s 6d a ton, but inquiry from the north is keen. The fact that shipments of about 15,000 sacks last month went into consumption without creating a slump in prices and that subsequent arrivals met with a free dispersal, is accepted as an indication that the Auckland reserves are exhausted. Whites are quoted, f.0.b., s.i., at £5 10s for prompt delivery. £5 17s 6d for July and £6 7s 6d for JulySeptember. The steadiness with which the price has ranged around £5 10s for prompt delivery has been a feature without parallel for many seasons. Dakotas are 10s a ton better than whites. The Waipiata is due to sail tomorrow from with a shipment of potatoes for Auckland, and the Waikouaiti on Monday. There have been some sales of wheat, both pool and free. A good deal of inferior milling wheat has been offered from the southern part of the province. Any free wheat being bought from farmers ranges up to 5s Sd, and first-class milling lines are selling at 6s lfd, f.0.b.. s.i., for Tuscan. Fowl wheat is a shade easier. There are ample supplies. The value is 5s 7d, f.o.b. A fair quantity of A grade oats is offering, and this has served to bring the price near that for B grade. The respective quotations are 3s 6d and up to 3s sd. Small seeds show no change. The onion market has eased further. quotations being £3 15s on trucks. Yields have been exceptionally good this season, and there is a number of growers still holding fair quantities, having missed the favourable prices of the earlier part of the season. FOREIGN EXCHANGE RATES (Australian and N.Z. Press Association) RUGBY, Thursday. The following rates on foreign exchanges are current today, compared with the cabled quotations on June 11 and par:—

INSURANCE EXPANSION MERCANTILE AND GENERAL MOVE Expansion of the operations of the Mercantile and General Insurance Company is shown oy the company’s latest move , the purchase of 95 per cent, of the shares or the Australian National Assurance Company, Limited, thus securing - control of that company. The paid-up capital of the Australian National Assurance Company is £ 14,313 Bs, made up of 5,000 shares paid to 10s each and 59,037 shares paid to 4s each. The shareholders of the Australian National Company have been paid 10s 6d and 4s 3d a share, respectively. In addition to this they will receive '8 per cent, per annum for three years on the paid up value of the shares acquired by the Mercantile and General. Mr. J. E. Brawne. managing director of the company, will continue in that capacity and Mr. Frank Hurley will join the board of the Australian National, while retaining his position as general manager of the Mercantile and General. The subscribed capital of the Mercantile and General is £250,000. CHICAGO WHEAT MARKET (Australian and N.Z. Press Association) rtecd. 9.16 a.m. CHICAGO, Friday. Wheat.—July, 1 dollar 7 5-S cents a bushel; September. 1 dollar 111! cents; December. 1 dollar 162 cents.

X. York, dol. June 13 June 11 Par. 4.84 25-32 4.S7 27-3. 4.866 Paris, fr. 124.05 124.05 124.21 Brussels, bel. 34.915 34.915 35.00 Geneva, fr. .. 25.20 25.205 25.22 Amst’dam, fl. 12.075 12.075 12.10 Rome, lire >.. 92.65 92.65 92.46 Berlin, r.m. . 20.335 20.335 20.43 Stoekh’m, kr. 18.135 18.135 18.159 Oslo, kr 18.20 IS. 20 18.159 Copenh n, kr. 18.205 18.205 18.159 Vienna, seh. . 34.52 34.52 34.581 Prague, kr. . . TTels'gfors, m Madrid, pes. . im 33.925 1632 193 33.95 24.02' 192.23 25.22i Gisbon, cscu. Athens, dr. .. 108 1-S 108 1-8 375 375 375.00 Bucharest, lei. SIS 818 25.22^ R. de Jan mil. r» 7-s 5 7-S R. Ayres, dol. 47 3-16 47 3-16 47.57v Calcutta, rup. 17 13-16 17 13-16 IS Shanghai, tael H’g-K’g, dol. lli s 2V 02 12.10i Yok'h’nia yen Eatavia, fl. .. 21§ 12.10i 24.58, 12.10