Finance and Markets

Sun (Auckland), Volume III, Issue 805, 28 October 1929, Page 10

Finance and Markets

BUTTER AND CHEESE

MERCHANTS’ REPORTS The New Zealand Dairy Produce Board has received the following market report from its London office, dated October 23, the figures for the previous week being in parentheses: BUTTER New Zealand.—Salted. 177 s to IS2s (178 s to lS4s), Oast year, 176 s to 182 s): unsalted. 188 s to 190 s (190s*. (last year, 186 sto 1925). 177 sto 182 s equals :■! pproxirnately Is s£d, f.o.b. First xvhey, 168 s (1725); second whey, 164 s (168 s). Deliveries New Zealand this week: 723 tons: in store, 4.350 tons (last year, 2,250 tons). Australian. —Salted. 174 s to 178 s, up to 180 s (173 s to 180); unsalted, 184 s to 188 s (lS8s). Argentine.— L’nsalted, 176 sto 180 s (176 s to 180 s). Irish Creamery.—Salted. 17 is to 176 s < 1765): unsalted, 179 s (178 s to 1795). Danish.—F.o.b.. 191 s (1925); spot, J 94s to 198 s (196 s to 200 s). Dutch. —L'nsalted, 198 s to 200 s (194 s to 1965). Siberian.—l6Bs to 172 s (168 s to 1725). Ukrainian.—l7os to 176 s (172 s to 1765). Polish.—l36s to 170 s (136 s to 170 s). French Baskets. —Salted, 162 s to 170 s Butter market slow. Detail prices unchanged. CHEESE Xew Zealand.—White, 93s to 94s (93s to 945). (last year, 109 s to 110 s): coloured. 92s to 935. up to 94s (92s to 935), (last year, 107 sto 109). 92s to 94s equals approximately B£d, f.o.b. Xew Zealand in store this week. 29,861 crates (last year, 20,500 crates). Canadian.—White. 95s to 96s (94s to 965); exceptional, 975; coloured. 94s to 965. c.i.f. (93s>. Market improving. Detail prices unchanged. NORTH AMERICAN MARKET The board has also received the following advice from its agents in Canada: — Butter.—Xew York, 45 cents (Is lOid); Montreal, 38£ cents (Is 75d): Halifax, 40 cents (Is 8d). MERCHANTS’ REPORTS Merchants report receipt of overseas cables as follow': A. H. Turnbull and Company, from tV. Weddel and Company. Ltd., London. under date October 26:—Butter, Danish, 194 sto 19Ss; Xew Zealand, unsalted, 188 s to 190 s; salted. 177 s to JB2s; market slow. Cheese: New Zealand. white, 93s to 945: coloured, 92s to 935; market improving. Canadian cheese. 94s to 965. Amalgamated Dairies, from its London office under date October 26: Butter: Our prices unchanged at 184 s; some signs of improved demand. Danish. 194 s to 198 s on the spot: 188 s f.o.b. Cheese, firm, with good demand. White, 945; coloured, 935.”

LONDON MARKET REPORTS

(United P.-4. — By Telegraph — Copyright) LONDON, Saturday. Sheep.—Xorth Island, medium, 6 1-Sd; heavy. 5 7-8 d; Argentine, heavy, 41<3. Lambs.—Centerbuy, medium, 8d; heavy, 7id: seconds. Tjd; selecteds, Bid and 73d; Xorth Island, firsts, 7§d and 7Jd: seconds, 7jd. Australian, other States, firsts, Sd and 7 3-8 d; seconds, 7£d; thirds, 7id; Argentine, firsts, 7Jd and 6ld; seconds, 6d; Patagonian, firsts, 6:'id and 6id. Frozen Beef.—Australian crops, 4 3-Sd; hinds. 5Jd. ("hilled Beef.—Argentine fores. 4 3-Sd; hinds, 5 5-Sd; others unchanged. COTTON. RUBBER, JUTE, ETC. ( Bast week’s prices in parentheses.) Cotton. —November d elivery 9.55 d (9.60 d > a lb. Rubber.—Para. 9 3-Sd (9 7-8 d) a lb; plantation and smoked, 97 ( d (93d) a lb. .1 ute.—Oetober-Xovember shipments, £2B 10s (£29) a ton. Copra.—Oetober-Xovember shipments, South Sea, £2l 2s 6d (£2l 17s 6d) a ton; plantation, Raboul, £2l 10s (£22 ss) a Linseed Oil.— £43 (£45 10s) a ton. Turpentine.—l3s 3d (445) a cwt. WHEAT Wheat cargtes are firm. Manitobas are held at an advance of 3d. Parcels are in moderate demand at about 3d advance for Manitobas and River Plates. Futures. —London: October, 47s 6d a quarter: November, 47s 4d: December, 47s lOd; January, 4Ss 6d. Liverpool: October, 8s 73d a cental: December, Ss 10 7-Sd; March, 9s 6d; May. 9s Sid.

LONDON MEAT MARKET PRICES AT SMITHFIELD The Xew Zealand Meat Producers* Board has received the following cablegram from its London office, dated October 25, advising Smithfield delivered prices averaged for the week ended that date, as follows: Xew Zealand Wethers and Maidens. —Canterbury quality, selected brands, 561 b and under, 63d a lb; 571 b to 641 b, 6 3-Sd; 651 b to 721 b, 6d. Other brands, 561 b and under, 6 3-8 d; 571 b to 641 b, 6 l-8d; 651 b to 721 b, 5 7-Bd. Xew Zealand Ewes. —641 b and under, 4 3-Sd. Xew Zealand Lambs. —Canterbury quality, 361 b and under, S 7-8 d; 371 b to 42Tb, sd; 431 b to 501 b, 7£d; seconds, 7id. Selected brands, 361 b and under, Sid: 371 b to 421 b, 73d. Other brands, first quality, 361 b and under, 7%d: 371 b to 421 b, 7£d; second quality, 30lb to 321 b, average, 7 Id. Australian Lambs. —Victorian, first quality, 361 b and under, 8 3-8 d; 371 b to 421 b, 7 7-Bd. Argentine Lambs. —First quality, 361 b and under, 7£d; 371 b to 421 b, 6*d. Argentine Chilled Beef. —Ox fores, •4 5-8 d; hinds, 6 5-Sd. Australian Frozen Beef. —Ox crops, over 1001 b, 4 3-8 d; hinds, over 1601 b, s*d. Xew Zealand Frozen Pork. —Porkers, 601 b to 801 b, 93d; 811 b to 991 b, 92d: 1001 b to 1201 b, 9id. Baconers, 1211 b to ISOlb, Sid. Lamb. —Market slightly weaker. Large supplies of Home-killed are decreasing consumption. Mutton.—Market is quiet. Trade slow. New Zealand Porker Pigs.—Market is steady. Fair demand. New Zealand Baconer Pigs.— Xominal prices, owing to small supplies. CHRISTCHURCH BUILDING VENTURE (Special to THE SUN) CHRISTCHURCH, Saturday. An ambitious city building project whereby it is proposed to convert the property known as Tattersalls, which has frontages on Cashel and Hereford Streets, into a block of shops and offices, has been planned by city interests and a company is to be formed to finance the venture. An option over the land, which is owned by H. Matson and Company, has been secured, and plans for the building have been prepared. The area of the site is two roods one and two-tentlis perches. It is intended to erect on each of the frontages a building of ferro-concrete to contain four stories. The ground floors of these buildings will be used as shops and the remaining floors will be subdivided into offices.

HAMILTON BUILDING SOCIETY

Accumulated profits of the Hamilton Starr-Bowkett Building Society now total £3,731, according to the annual report: this amount is equal to 32.5 per cent, of the whole subscriptions paid in by shareholders. Withdrawals of subscriptions totalling £2,456 have been paid. Xo. 1 group is now fully subscribed, and the frequency of the appropriations will be materially increased. The working expenses levy has been reduced to 2s a share. The balance-sheet shows that receipts totalled £16,504. SHORTHORN BULL FOR TASMANIA A pedigree Milking Shorthorn bull, Braebank Bonnie, bred by W. J. Holmes, of Runciman, will be shipped at Auckland this week to the order of a Tasmanian buyer. The bull is backed by high C.O.R. records.