FINANCE AND COMMERCE

Taranaki Daily News, 23 July 1930, Page 16

FINANCE AND COMMERCE

1 POTATO MARKET EASIER. WEAK HOLDERS SELLING. Christchurch, Last Night. The potato market has eased since the week-end. On Friday forward quotations were £5 to. £5 5a f.o.b. sacks in for prompts and) Julys, and £5 12s Gd to £5 15s foDp August-Septembers. Yesterday prompts, and Julys had fallen ‘ to £4 12s (id a ton;)f.o.b. sacks in, Aug- ' usts to £5 2s 6d. ; and Septembers to £5 ss. Thia drop in the market is due to weak holders filing. To-day quotations are unaltered, but August-Sep-tembers cannot for £5 2s Gd, f.o.b. sacks in. There are few orders coming to hand from Auckland or other ports.° The next Boat from Lyttelton is the Katoa, due to sail for Auckland on Friday? - The farmer is still a firm holder, the" nominal value on trucks being £3 10s to £3 15s. The oats market has also weakened as far as southern quotations are concerned. Locally the position is firm and B Gartons have been sold for Lyttelton shipment at 4s. The southern quotations to-day are 3s 9d to 3s Old f.o.b. ■ sacks in, for A Gartons for August delivery and 3s 81d for B. The chaff market is also a shade weaker, with few orders coming to hand. Chaff has been sold for prompt delivery at £G 17s Gd f.o.b. sacks in, equivalent to £5 7s Gd on trucks. Chaff for later delivery is not offering in much quantity. Onions are worth £2 iCKs to £3 10s according to the quality of the offering. A little business is being transacted in next season’s wheat on the basis of 5s 5d to 5s Gd a bushel for Tuscan according to stations. Fowl ■wheat values remain firm at 6s f.o.b. sacks extra, with a fair inquiry. WOOL SALE AT AUCKLAND. FLEECE BRINGS A PENNY MORE. Auckland, Last Night. A satisfactory clearance at prices approximately on a par with those ruling elsewhere was made at the supplementary wool sale held in Auckland to-day when in a total catalogue of 700 bales about 100 bales of fleece were offered. Although arranged as a winter wool sale in view of the heavy carry-over of fleece from the regular sales, to-day’s fixture attracted a catalogue made up principally of crutchings and oddments with a small proportion of fleece wool which had either been held over or shorn late. Fleece wool sold up to 8d a pound, this price being realised for several lots including medium crossbred and Southdown. Best crutchings sold, up to medium quality from 4d to 5d and inferior from 2gd to 3|d. Prices for fleece wool were about Id better than those obtained at the third Auckland sale in March. LONDON WOOL PRICES FIRM. London, July 21. At the wool sales 7204 bales were offered, including 3290 New Zealand. About 6270 were-sold. There was a good offering of . 'greasy Merinos and a fair supply of .crossbreds and slipes. There was good; Competition and prices were firm. New.'Zealand greasy crossbred clips sold asjvfollows: MARS, top price IOJd. average HMG, lOd and 9{d. ; < Bradford quiet and steady. Quotations firm; business small. WHEAT MARKET FLUCTUATES. CARGOES FIRM AT LONDON. London, July 21. Wheat cargoes are firm. Sellers were asking an advance, of sixpence to ninepence, but the market eased a little. Parcels opened firm, sellers asking advances of ninepence to a shilling, and closed lower. Futures: London, July 33s Gd, September 33s 8d; Liverpool, July 7s 3 l-Bd, October 7s 4 l-Bd, December 7s 5Jd, March 7s 7d. | LONDON MARKET PRICES. DULLNESS IN HEMP TRADE. The Department of Agriculture has received the following cablegram, dated July 19, from the High Commissioner for New Zealand,: London: — Tallow. —Spot )/ market quiet and steady, with fair, demand at auction; 675 packages being, offered and- 444 sold. ■ Present quotations are: Mutton —Fine, 31s per cwt; fair to good, 26s to ‘29s; • dark to. dull, 24sto 255. Beef—Sweet and/or mixed, 25s to 27s Gd; fair to good, 24s Gd to 27s Gd; dark to dull, 23s to 245. Mixed—Fair to good, 24s to 275; dark to dull, 23s to 245. Gut, etc., 20s to 245. Apples.—Slow trade as market is affected by heavy supplies of soft fruit and Tasmanian apples selling at very low prices. New Zealand prices this I week: Stunner, 8s to 9s Gd per case; Dougherty, 9s to Ils; Statesman, 9s I to 10s; Granny Smith, 12s to 13s. Large sizes of all descriptions lower. Hemp.—Manila market easier under selling pressure and limited support. “K” grade sold at £22 ! »105, AugustOctober shipment; £22 15s SeptemberNovember shipment. Sisal: market quiet but steady on the basis of afloat and June-August shipment first grade fair average quality £24 15s; July-Sep-tember and August-October shipment £25. Mexican Sisal: It is reported that 28,000 bales have been lost by the. fire

in Progreso, but market not greatly affected by reports as present stocks there 300,000 bales. Good white nominal quotation is £26 15s.- New Zealand: Market continues dull; no firsthand sales reported. Highfair offered £24, spot Antwerp but no buyers. Wool—Sales continue with prices better. Merino moved against buyers and other sorts fully maintained. OIL BORING ACTIVITIES. Coal, Oil (N.Z.), Ltd., reports for ths week ended Saturday that the Omata No. 1 bore was drilled to, 1980 feet in mudstone and cored 20 feet to 1922 feet. Further oil and gas were showing. Preparations had been made to run a IG-inch casing. The Blenheim Oil Well Reclamation ■Company reports for the period ended Saturday that the borers at the well at Moiuroa were still mudding off gas and plugging well preparatory to shutting off water. Machinery for cementing was ready. NEW PLYMOUTH OIL WELLS.' TECHNOLOGIST FROM SYDNEY Mr. A. M. Neilloy, of New Plymouth (N.Z.), Oil Wells, Ltd., has received a cable advising him that Mr. R.- H. Launder, the company’s petroleum technologist, will leave Sydney for New Plymouth on Friday. SHAREMARKET BUSINESS. Wellington, July 22.—Sales reported. Australian Bank of Commerce, -22 s 3d; Commercial Bank of Australia (ord.), 21s; Bank of New Zealand, 56s 6d; 56s 9d; Union Bank of Australia (Melbourne reg.), £ll 6s; Christchurch Gas, 265. Call: British Tobacco (ord.), 37s 3d. Dunedin-. —Okdrito.lGs 7d arid 6s Sd. t■ ■ ■

Auckland, July 22.—Sharemarket sales; Inscribed Stock, 1938, 4j per cent., £99 12s Gd; City of Auckland, 1949, 51 per cent., £95; Bank of New South Wales (Sydney register), £35 17s Gd; Bank of New Zealand, 55s 9d; Dominion Investment and Banking, 20s; Farmers’ Trading, 8s Id; National Bank of New Zealand, £5 IGs; Commercial Bank of Australia, 21s. Christchurch, July 22.—Sales on Exchange: Commercial Bank of Sydney, £l9 10s; Union Bank of Australia (cum div), £ll 5s Gd (4 parcels), £ll ss; Christchurch Gas, 25s lOd; New Zealand Breweries, 48s 6d, 48s sd; British Tobacco, 37s 4d; Mt. Lyell, 23s 9d, 23s 8d (2 parcels); Mahakipawa, 2d (3 parcels). Sales reported: Commercial Bank of Australia (cum div), 20s lid; Bank of New South Wales, £35 15s, ’ £35 18s .Gd; 'British Tobacco. 37s 3d; Mt. Lyell rights, 2s sd.