COMMERCIAL

Taranaki Daily News, 24 July 1929, Page 16

COMMERCIAL

SHAREMARKET SALES. Wellington, July 23.—Sales reported: New Zealand Brewery bonds, 295; Staples and Co., £2 16s. Christchurch, July 23. —Sales on Exchange: Bank of New South Wales, £5l 14s; Bank of New Zealand, 61s 2d (seven parcels); South British Insurance, 68s; Goldsbrough, Mort, 46s 7d, 46s 8d; New Zealand Guarantee Corporation, On 3d; Christchurch Gas, 27s Id; New Zealand Breweries, 85s 6d (two), 85s 2d; British Tobacco, 48s 5d (two); Dunlop Rubber, 27s 9d; Kildare, 5s 3d; Mahakipawa, s£d (three). Reported sales: 51 per cent. Inscribed Stock, 1933. £99 15s. Auckland, July 23.—Sharemarket sales: Bank of New Zealand, 61s 3d, 61s; South British Insurance, 68s; Goldsbrough Mort, 46s 10d; Auckland Gas, 24s 10d;°Auckland Gas (con.), 18s sd; Renown Collieries (pref.), 3s; Northern Steam, 14s; Huddart Parker, 45s 9d; New Zealand Breweries, 85s; Robinson Ice Cream, 23s 6d,

WHEAT MARKET RECOVERY. By Telegraph—Press Assn. —Copyright. New York, July 22. A message from Chicago states that, on the rush to buy back into the wheat market, futures recovered all jthe losses suffered in last week’s final trading. Bull confidence has been restored by continued dry weather in Canada and unfavourable crop reports from Australia and the Argentine and strong action in Liverpool. Wheat closed: July 141 cents, September 145 J cents, December 152 J cents. SLUMP IN COPRA TRADE. By Telograph—Press Assn. —Copyright. London, July 22. The complete absence of new business and heavy new offerings from the Dutch East Indies have severely shaken the copra market, and the slump in the margarine combine steadily reduced bids from £24 6s 3d to £23 per ton. South Sea sundried copra to-day is nominally £22 12s 6d. LONDON WOOL MARKET. By Telegraph—Press Assn. —Copyright. London, July 22. At the wool sales 9896 bales were offered, including 2630 from New Zea- !■ d. There was a good selection of o-ood style second-hand Merinos. All other (descriptions were in limited supply. Prices .were unchanged, but withdrawals were rather frequent. Bradford tops were extremely dull. POTATO PRICES JUMP HIGHER. THE MARKET VERY SENSITIVE. By Telsgraph—Press Assn.—Copyright. Christchurch, Last Night. Potatoes have advanced another 10s a ton. Yesterday morning they took a move upwards and this morning the movement was continued. July deliveries were sold at £8 a ton f.0.b.5.i., and August-September at £8 10s. Late this afternoon there was a suggestion of a steadying. The market is so sensitive that an hour or two are sufficient to colour the tone if not the actual price. How'ever, buyers, who were numerous enough in the morning at £8 10s for the later months, were not so keen this evening. The Wingatui’s consignment on Saturday night comprised 9641 sacks, 5741 from Lyttelton and 3900 from Timaru. The vessel is expected to arrive in Auckland on Thursday. As a rule there are sufficient supplies both in Auckland and Lyttelton to cheek rapid movements in the market, but this year these stocks are negligible. This state of affairs is naturally stimulating inquiries from the north and this, combined with the forcing of over-sellers on to the market to cover commitments, has brought about the present jump. The Kaiwarra is due to sail to-morrow with an estimated cargo of 3506 sacks, in addition to 1060 from Timaru. Values on trucks are about £6 15s a ton. Dakotas have been sold at £8 10s f.o.b.s.i. for prompt delivery, or equal to £7 5s on trucks.

Onions have again advanced in price and any good conditioned sorts are worth up to £7 5s a ton on trucks. Advice has been received from Sydney that the Karetu’s shipment of 1300 centals sacks sold well, making up to £l3 10s a ton. . Oats are unchanged at 3s 4d f.o.b.s.i. for A Gartons, and from 3s 2d to 3s 3d fpr B’s. Chaff is firm at £4 5s on trucks. Fowl wheat is quoted at 5s 7£d f.o.b. LONDON MARKETS. HIGH COMMISSIONER’S CABLE. The Department of Agriculture has received the following cablegram, dated July 20, from the Hish Commissioner for New Zealand, London:—Tallow.—The spot market is quiet and there is little demand at auction, liesent quotations are: —Mutton: Fine, 41s to 41s 6d per cwt; fair to good, 38s to 40s; dark to dull, 36s to 375. Beet: Sweet and/or mixed, 39s 6d to 435: fair to good, 37s to 395; dark to dull, 35s bd to 36s 6d.’ Mixed: Fair to good, 31s. to 395; dark to dull, 35s 6d to 36s 6d. Gut, etc.: 34s to 36s 6d. Apples. —Contrary to first impressions the Tamaroa’s consignment was disappointing. The fruit was all mature, with, considerable waste and bad y affected with ripe spot. The steameis Devon and Norfolk have arrived, lhe fruit is all ripe with some waste. A quantity of Cox’s Orange Pippin ex ie Devon is useless. The market is fair y steady, but a large proportion of th©

recent shipments have been large apples, which meet with slow sale. Prices are: Nelson Stunners, 12s to 19s per case; Dougherty’and Rokewood, 17s to 225; Statesman, 16s to 21s; Otago Jonathan, Delicious and Tasman, 15s to 20s; Dunn’s Favourite, 16s 6d to 19s; Cleopatra, 17s 6d to 21s. Hemp. —The Manila market is firmer. Business is restricted owing to the searcitv of offers. Closing values for “J arade shipment to be in August-October were £3B 5s to £3B 10s. Sisal: The market is firm, with steady inquiry. Fair average quality, shipment to be in July-September, is quoted by sellers as follows: No. 1, £39 10s; No. 2, £37 las. No. 1, good marks, has sold up to £4O 10s. New Zealand: The market is quiet and prices are unchanged. Wool.—The sales have been curtailed bv two days. Increased German competition was evident this week, particularly for Merinos.