FINANCE AND COMMERCE

Taranaki Daily News, 22 September 1931, Page 16

FINANCE AND COMMERCE

DAIRY PRODUCE VALUES. MARKET REMAINS STEADY. There was little change in the London butter market last week. New Zealand salted closed steady at 109 s. to 114 s. on Friday, an advance of Is. to 2s. a cwt. on the week. Danish advanced 2s. to 45., and on Friday was quoted at 130 s. to 1325., a premium of 18s. to 21s. a cwt. on New Zealand. The retail price of Danish was increased during the week to Is. 4d. per lb., but that of New Zealand is unchanged at Is. 2d. The cheese market is steady, New Zealand white being quoted at 595. to 61s. and coloured at 61s. to 635., an advance of Is. per cwt. on the week. Canadian white is Is. higher than New Zealand, but coloured is on a par. An interesting feature of the Dairy Board’s report is that butter in New York is quoted at Is. 4|d. a lb., or slightly more than GJd. higher than the Montreal price. The London office of the Dairy Board reports the following prices current on Friday,' those for the previous week being shown in parentheses:— BUTTER.' New Zealand, salted, 109 s. to 114 s. (IoBs. to 1125.; September 19, 1930, 1275. to 130 s.); unsalted, 108 s., 112 s- to 114 s. (108 s. to 1125., 1145.; September 19, 1930, 1465. to 150 s.); 109 s. to 114 s. equals approximately lljd. per lb. f.o.ib.; first whey, 102 s. (100 s. second whey, 100 s. (985.). Australian, salted , and unsalted, 105 s. to 107 s. (105 s. to 1075.). South Africa, 90s. to 100 s. (90s. to 985.). Argentine, unsalted, ,106 s. to 108 s. (106 s. to 108 s.), Danish, 1245. f.0.b.; 130 s. to 1325. spot (1245.; 128 s. to 1305.). Dutch, unsalted, 120 s. to 1225. (118 s. to 1205.). Esthonian, 106 s. (104 s. to 1065.). Latvian, 104 s. (102 s. to 1045.). Siberian, 88s. to 925. (90s. to 925.). Ukranian, 90s. to 925. (90s. to 925.). Polish, salted and unsalted, 84s. to 945. (84s. to 965.). Lithuanian, unsalted, 100 s. to 106 s. (100 s. to 1025.). The board has also received the following advice from its agents in Canada: Butter: New York, 33J cents (Is. 4|d. per lb.; Montreal, 20| cents 10 l-Bd.) per lb. CHEESE. New Zealand, white, 595. to 61s. (565. to 605.; September 19, 1930, 755. to 705.); coloured, 61s. to 635. (60s. to 625.; September 19, 1930, 745. to 755.); 595. to 635. equals approximately 5 7-Bd. per lb. f.o.b. Australian, coloured, 60s. (595. to 605.). Canadian, white, 60s. to 625. (60s. to 625.); coloured, 61s. to 635. (625. to 635.); c.i.f., 595. (565.). South Africa, coloured, 465. to 565. (50s. to 565.). English finest farmers, 755. to 80s. (not quoted.). ARRIVALS, DELIVERIES, STOCKS. London arrivals of butter 'com Poland and the Baltic States last week were 400 tons, and from Russia 375 tons. Canadian arrivals were 9300 boxes and 5950 boxes are expected this week. Deliveries and stocks oi butter for the week were as z follow, the figures for the corresponding date of last year being shown in parentheses:— New Zealand butter: Deliveries, 1347 tons (1895 tons); stocks, 5985 tons (8820 tons). Australian butter: 910 tons (312); 2155 tons (1525). New Zealand cheese: 18,519 crates (28,573); 74,955 crates (110,647). Canadian cheese: 9375 boxes (8793); 227,750 boxes (193,007). SHIPMENTS FOR BRITAIN. Two shipments totalling 79,685 boxes of butter and 22,431 crates of cheese left the Dominion last week for Britain. The Rangitane, which sailed on September 12, took 60,209 boxes of butter and 15,552 crates of cheese, and the Port Gisborne, which left Wellington on Saturday, had 19,476 boxes of butter and 6879 crates of cheese.

MEAT MARKET WEAKENING. HOME-KILLED SUPPLIES. Lamb market weaker, traJe slow; consumption affected by large supplies of home-killed meat. Mutton: Wethers and ewes weaker in sympathy with lanubs; sales difficult to make. Beef: Less interest in frozen beef owing to lower values Argentine chilled beef. New Zealand porker pigs: Prices nominal; market easier owing to plentiful supply homekilled meat selling down to sd. to 6d. ex hooks, owing to unfavourable weather. New Zealand baconer pigs: Nominal; Continental bacon still selling at low prices. The above report was received on Saturday by the New Zealand Meat Producers’ Board from its London office, which advises that the following are the approximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market and/or ex London stores. Prices for the two previous weeks are also shown: — New Zealand sheep: Canterbury and North Island selected crossbred wethers and maiden ewes, 58 to 561 b., 5Jd- (5 5-Bd., 5 5-8 d.); 57 to 641 b., 5 3-Bd. (5Jd., 5-Jd.); 65 to 721 b., sd. (5d., 5d.). North Island crossbred wethers and maiden ewes, 48 to 561 b., 5 3-Bd. (s|d., s|d.); 57 to 641 b., std. (5 3-Bd., 5 3-8 d.); 65 to 721 b., sd. (5d., 5d.). Ewes: 481 b and under, 4 5-Bd. (4|d., 4|d.); 48 to 641 b., 4d. (4id., 4id.)l 65 to 721 b., 3 5-Bd. (3 7-Bd., 3 7-Bd.). New Zealand lambs: Canterbury: 361 b. and under, BJd. (8 5-Bd., 8 5-8 d.); 37 to 421 b., 7 7-Bd. (Bd., 8d.); 43 to 501 b., 7d. (7 l-Bd., 7 l-8d.); second quality, average 331 b., BJd. (Bi<L, B>d.). Other South Island brands, 361 b. and under, 8 3-Bd. (BJd., BJd.); 37 to 421 b., 7 7-Bd. (Bd., 8d.); 43 to 501 b., 7d. (7d., 7d.). Selected North Island brands, 361 b. and under, 8 5-Bd. (B|d., B|d.); 37 to 421 b., Bd. (8 l-Bd., 8 l-8d.); 43 to 501 b., 7d. (7 l-Bd., 7 l-8d.); second quality, average 311'b., 8 3-Bd. (81d., B|d.). Other North Island brands, first quality, 361 b. and under, BJd. (8 3-Bd., 8 3-8 d.); 37 to 421 b., 7 7-'Bd. (Bd., 8d.); second quality, average 311 b., BJd. (8 3-Bd., 8 3-Bd.). Australian Lambs: Victorian, first quality (new season’s), 361 b. and under, Bfd. (—); 37 to 421 b., Bd. (—). -Argentine lamibs: First quality, 361 b.

and under, not quoted; 37 to 421 b., not quoted. New Zealand beef: Ox fores, 2fd. (2fd., not quoted); ox hinds,.4 l-Bd. (4 l-Bd., not quoted); cow fores and hinds, not quoted. Argentine chilled beeef: Ox fores, 2 7-Bd. (3|d., BJd.); ox hinds, 6Jd. (7fd., 7Jd.). Australian frozen beef: Ox crops, over 1001 b., 2 7-Bd. (2 7-Bd., 2|d.); ox hinds, over 1601 b., 4 l-Bd. (4 l-Bd., 4d.). New Zealand prime porker pigs: 60 to 1001 b., 6|d. (6Jd., 6£d.); 101 to 120 lb., sfd. (6 l-Bd., s|d.). New Zealand prime baconer pigs: 121 to 1201 b., sd. (5d., 5d.). New Zealand frozen veal: Not quoted. MOTUROA OIL PRODUCTION. 4805 GALLONS DURING WEEK. The following report has been issued by Moturoa Oil Fields, Ltd., for the week ended September 19; “No. 2 well produced by flowing 139 barrels (486'5 gallons) of clean oil. An attempt was made to see how the well would respond to pumping, but owing to a faulty standing valve the pumping rods had to be pulled out again and considerable time was lost over the experiment.’’ AMALGAMATED WIRELESS. SIX PER CENT DIVIDEND. . Wellington, Last Night. Amalgamated Wireless (Australasia), Limited, advises that the directors have declared a final dividend, payable on October 9, for the year ended June 30, at the rate of 6 per cent, er annum in respect of the six months ended June 30 last. NEW PLYMOUTH OIL WELLS. By Telesraph.—Press Association. Wellington, Last Night. New Plymouth (N.Z.) Oil Wells, Ltd., reports for the week ended September 14: “On September 11 we bailed the easing dry, and after standing 24 hours, tests showed that no water had leaked into the casing. We are now drilling out plugs preparatory to an ‘outside’ test of the water shut off.” SHAREMARKET TRANSACTIONS. Auckland, Sept. 21:—Sharemarket sales: Bonds 1937 5| per cent., £95 (two sales); Inscribed Stock 1937 5J per cent., £95; Gisborne Sheepfarmers 1941 6 pet cent., £72 10s; Commercial Bank of Australia, 12s lOd; South British Insurance, 60s; New Zealand Breweries, 28s 9d; Moturoa Oil, 4s 9d, 4s 6d, 4s 3d; Golden Dawn, 4s 9d; Waihi, 15s lOd; Bank of New Zealand, 41s 6d. Wellington, September 21: Sales reported: New Zealand Government, 5J per cent, stock, 1933, £96 15s. (late sale Saturday); National Bank of New Zealand, £3 95.; Commercial Bank of Australia, ordinary, 13s. (late sale Saturday); Auckland Gas Co., £1 3s. 3d., £1 3s. 4Jd. (late sale Saturday); King Solomon Gold Mining, 2s. 6d. Christchurch, September 21: Sales on exchange: New Zealand Breweries, 28s. 6d.j King Solomon, 2s. B<l. (three parcels); Waihi (cum. div.), lus. lOd. Sales reported: Commercial Bank of Australia, 12s. lid.; Bank of New Zealand, 41s. 7d.