COMMERCIAL.

Taranaki Daily News, 4 November 1926, Page 11

COMMERCIAL.

DOMINION SHAREMARKETS. By Telegraph.—Press Association. Wellington, Nov. 3. Sale on ’Change: Bank of New Zealand (rights), (is 2d. Christchurch, Nov’. 3. Sales on ’Change: New Zealand Refrigerating Co. (con.), 7s fid (two); Kaiapoi Woollens (7s paid), 2s fid. Auckland, Last Night. Sharemarket sales: War Loan, 1938, 4J per cent., £9(3 ss; Inscribed Stock, 1936, 5J per cent., £lOO ss; New Zealand Breweries (debentures), 24s 3d; New Zealand Refrigerating (contributing), 7s; Alburnia, 4s fid; New Waiotahi (contributing), Is 3d. WESTFIELD MARKET. Auckland, Last Night. At the Westfield sale to-day there was a good yarding of beef, consisting chiefly of good quality cattle. Values were about 2s to 3s per 1001 b. easier.A consignment of extra choice medium weight A steers sold at £l3 15s to £l4 17s fid, and averaged £l4 Bs. Extra choice ox sold to 36s per 1001 b.; choice and prime 33s to 355; just killable £1 10s to £1 12s fid; prime young cow and heifer beef £1 10s to £1 13s; just killable £1 5s to £1 9s. Sheep.—There was again a good yarding, prices being on a par with last week’s rates. Heavy prime wethers (woolly) made 32s 9d to 345; shorn £1 4s to £1 ss; medium 31s (id to £1 12s 3d; shorn £1 2s 9d to £1 3s fid; light and unfinished £1 5s to £1 8s; shorn 18s to £1; heavy prime ewes £1 7s; shorn £1 Is; lighter 23s fid; shorn 17s to 19s. Lambs. —There was a good yarding, prices being easier, especially toward the end of the sale. Heavy prime lambs made 25s fid; medium 22s fid to 245; light las to £l. Calves. —There was an average yarding of calves, there being little or no change in values. Runners made £4 10s to £5 ss; heavy vealers £3 10s to £4 ss; medium £2 15s to £3 ss; light £1 14s to £2 10s; rough £1 to £1 10s; small and fresh dropped 3s to 14s. Pigs.—There was a good yarding, selling at last week’s prices. DIVIDENDS ANNOUNCED. Dunedin, Last Night. The directors of the Westport Coal Company, Ltd., recommend a dividend of Is per share, making 10 per cent, for the year. They also propose to distribute fid per share from the insurance account.

The directors of the New Zealand Paper Mills, at a meeting to-day, authorised the payment of an interim dividend of 3 per cent. BRISBANE WOOL SALES. By Telcsraph—Press Assn.— Copyright. Brisbane, Nov. 3. _ At the wool sales fine wools declined 5 per cent, and other qualities 5 to 10 per cent, compared with the previous series. THE BELGIAN LOAN. LARGELY OVER SUBSCRIBED. Received Nov. 3, 5.5 p.m. London, Nov. 2. The amount subscribed for the Belgian loan though it has not been disclosed, must have been enormous, as applicants under £lOOO have not received allotment. Applicants of £lOOO received £100; applicants of £15,000 received £2OO, while the largest applicants only obtained one and ahalf per cent. Dealings opened at £5 premium and closed at £4 15s. BELGIUM’S RECOVERY. BANK CORPORATION’S REVIEW. The September bulletin published by the Swiss Bank Corporation, discussing the Belgian financial situation, states that although the present Belgian Government has only been in power three or four months, and the eventual effect of the measures hitherto taken cannot yet be guaged, recognition must be accorded to the zeal with which it has attacked the business in hand. Confidence is gradually being restored, and while the Belgian franc is not artificially supported, it has nevertheless recovered from a level of about 235 f. per pound sterling to between 170 f. and 180 f. The situation, although still delicate, is better than it was at the beginning of the year. Economic conditions in general seem not unfavourable. The devastated districts are completely reconstructed. Industrial plant is in a better state than it was in 1914; pre-war output has been regained, not only in industry, but also in agriculture. In addition to this, the Congo represents a very rich asset, the natural resources of which are being developed with striking rapidity. In short, it would appear that after the difficult period through which Belgium has passed since the war the country is now definitely on the way to recovery, and that while foreign aid will still be necessary, a sound currency situation, which is the necessary basis for normal conditions in production, trade and consumption, will gradually be restored.