COMMERCIAL

Taranaki Daily News, 15 July 1929, Page 3

COMMERCIAL

SHAREMARKET TRANSACTIONS. Wellington, July 13. —Reported sales: 5| per cent. Inscribed Stock, 1933, £lOl 5s (three lots); Australian Bank of Commerce, 36s 3d; Commercial Bank of Australia, 30s l|d; Goldsborough Mort., 47s lOd; Union Steam (pref.), 21s 3d; British Tobacco (ord.), 48s 8d; New Zealand Farmers’ Fertiliser, 23s 6d. Christchurch, July 13.—Sales on Exchange: New Zealand Breweries, 79s (two parcels), 79s 3d (three parcels), 79s 4d; British Tobacco Co., 48s 4d. Reported sale: New Zealand Breweries, 79s 4d. Dunedin, July 13. —Reported sale: National Insurance, 16Y 3d. Auckland, July 13. —Sales on Stock Exchange: Inscribed Stock, 1932, 5| pe • cent., £99 12s 6d; New Zealand Breweries (deb.), 26s 9d; Mount Lyell, 43s 9d; Guarantee Corporation, 9s sd. Sale reported: National Insurance, 16s 3d. LONDON WOOL SALES. By Telegraph—Press Assn.—Copyright. London, July 12. At the wool sales, 6625 bales were of which 4856 were New Zealand. There was a small offering of greasy Merinos, crossbreds and many alipes, for which there was brisk Home competition at late rates. New Zealand clips sold as follow: —MFW/TBS super halfbred 22d, super three-quarter bred, 21s; Feilding, ditto, three-quarter bred, 21d; Feilding, ditto, top price 22d, average, 19Jd; Canterbury ditto, 21d and 19d. LONDON DAIRY MARKET. Messrs Newton King, Ltd., have received from their principals (Messrs R. and W. Davidson, Ltd.), the following indication of prices ruling on July 12. The figures in parentheses indicate the position on June 29: — Butter.—Our London advices indicate quiet trading. Continental supplies are a little more plentiful and prices have eased Is during the week. Canadian operators are not prepared at the moment to increase their buying limits for forward delivery as there is a movement, in New Zealand to send forward consignments to both Halifax and Vancouver. Salted, 169 s to 172 s per cwt (170 s to 1725); unsalted, 168 s to 172 s per cwt (168 s to 1725); wheys, first, 15Ss and 156 s per cwt (1565); second, 152 s to 150 s per cwt (1545). Cheese.—Buyers are of the opinion stocks are a little too heavy and there is an absence of anticipating requirements. New arrivals of home-made are steadily increasing, as also Canadians, but these are immature. Warmer weaklier will stimulate consumption and in the absence of Home and Canadian mature goods, New Zealands will receive more attention, lhe marxet is Is 6d easier. Coloured, 91s to 92s per cwt (93s to 945); white, 89s to 90s per cwt (91s to 925). MARKETING OF PIGS. REORGANISING THE ASSOCIATION. Hamilton, Friday. During the last season the New Zealand Co-operative Pig Marketing Association handled 43,000 pigs, an increase of 50 per cent, over the pievious figures. The turnover for the year totalled £150,000. Referring to the position ycsteiday Mr. S. H. Judd, chairman of directors, said it was proposed to reorganise the association with a view to eliminating some of the weaknesses that were inevitable in a concern which had no capital. It was proposed to form a new company with a capital of £25,000, divided into 2s shares. As the individual shareholding would be small, no interest would °be paid. An effort would be made to register the company under the Dairy Industries Act.

The provision of capital, said Mr. Judd, would enable a standard advance nayment to be made at all times and on all classes of supply. Further, it would enable final payments to be made more quickly, as it would be utilised for this purpose. Also, being replaced several times yearly on the receipt of proceeds of sales, it would so be utilised, several times durimr the year.