FINANCE AND COMMERCE

Taranaki Daily News, 15 August 1933, Page 12

FINANCE AND COMMERCE

CHEESE PRICES IMPROVE MARKET FIRMNESS REPORTED. BUTTER QUOTATIONS STEADY. Cheese prices advanced by! about one shilling at the close of last week’s trading, according to a report received by Joseph Nathan and Co.-, Ltd., from Trengrouse and. Nathan, Ltd., yesterday. Butter is quoted at 90s. and the market is stated to be steady. The cheese market is reported to be firm, white being quoted at 495. 6d. and coloured at 525. Deliveries of New Zealand butter last week were 1540 tons, the quantity re,maining in store being down to 7775 tons, as against 8400 tons for the previous week and 9800 tons a fortnight ago. The Empire Marketing Board’s estimate of the stocks of all butters in store was I, boxes, compared with 870,050 boxes a year ago. The Dairy Board’s London office, reports Friday’s official closing quotations as follow, those for the previous week being shown in parentheses:— BUTTER. New Zealand, salted, 88s. to 90s. (83s. to 855.; August 11, 1932, 107 s. to 110 s.); unsalted, 88s. to 90s. (80s. to 865.; August 11, 1932, 106 s. to 110 s.); 88s. to 89s. equals approximately 10.32 d. f.o.b. Deliveries, New Zealand, 1540 tops; in store, 7775 tons (including 325 tons ex Coptic). ’ Australian, salted, 87s. to 89s. (83s. to 845.); unsalted, 88s., 89s. to 90s. (83s, to 855.). Deliveries, Australian, 950 tons; in store, 2750 tons. Argentine, unsalted, 80s. (78s. to 80s.). Danish, 83s. fx>.b.; 102 s. spot (835.; 100 s. to 1025.). Dutch, unsalted, 102 s. to 106 s. (98s. to 1025.). Esthonian, salted and unsalted, 785., 80s. to 82s. (765. to 785.). I Latvian, salted and unsalted, 785., 80s. to 82s. (765. to 785.). Lithuanian, salted and unsalted, 785., 80s. to 81s. (765. to 785.). Siberian, salted and unsalted, 745. to 755. (745.). CHEESE. New Zealand, white, 48s. Gd. to 495. (5 l-Bd. f.0.b.) (48s. to 48s. 6d.; August 11,1932, 595. to 605.); coloured, 51s. to 51s. 6d. (5Jd. f.0.b.) (50s. 6d. to 515.; August 11, 1932, 555. to 575.). Deliveries, New Zealand, 17,948 crates; in store, 134,343 crates (includes 3350 crates ex Coptic). Canadian, white, 625. to 68s. (645. to 665.); new season’s, white, 50s. to 51s. (50s. to 555.); coloured, 525. to 535. (535.); c.M., white 50s. 6d., coloured. 51s. 6d. (515.). Deliveries, Canadian, 5050 boxes; in store, 90,862 boxes. English finest farmers’, 655. to 70s. (60s. to 655.). MORE CONFIDENT OUTLOOK. BRITISH BUTTER IMPORTERS. A more confident outlook among British butter importers is reported by A. J. Mills and Co., Ltd., in the latest advices received by mail by Mr. E. Griffiths, New Plymouth. “Since June 15,” States the report, “arrivals continue very heavy, and although consumption in this country has improved considerably in the past 12 months it has not been able to keep pace with the enormous quantities that have arrived. “It is interesting to review imports from all sources during January to June for the past three years. Figures for 1931, 1932 and 1933 are respectively: Total imports, 3,986,252 cwt., 4,172,354 cwt., 4,584,522 cwt.; Australia and New Zealand, 1975,611 cwt. (49.56 per cent.), 2,170,092 cwt. (52 per cent), 2,470,958 cwt. (53.9 per cent.); other countries, including South Africa, 2,010,641 cwt. (50.44 per cent.), 2,002,262 cwt. (48 per cent.), 2,113,564 cwt. (46.1 per cent). “In the first place, it will be seen what a big increase in the total has had to be handled, and, secondly, the steady improvement in the percentage of Australian supplies in comparison with the total. Demand not having been sufficient to consume these big quantities has brought about a very large cold-stored stock as at June 24, and at the figure of 1,306,287 boxes is no fewer than 570,633 boxes in excess of the figure at .the same time last year. “With the continued shrinkage in European imports and the enormous decrease in production in Australia during the past two or three months, we are now facing a period which should show continued declines in imports from last year’s figures and, although buyers are somewhat nervous to take stock in view of the heavy cold-storage quantities, there is a more confident outlook among importers and it is generally anticipated that from now on prices will improve. “Denmark seems to Have passed the peak of its production and its weekly exports continue to decrease as compared with last year. Russia is a somewhat unknown factor. Ireland is shipping its butter much more freely than last year, and Holland is shipping and storing on this side instead of storing so much in Holland as before,”

SHAREMARKET TRANSACTIONS. NEW ZEALAND EXCHANGES. * The Press Association reports the following sales on Dominion stock exchanges yesterday:— Wellington: Four per cent, bonds, 194 b and 1949, £lOl 2s. 6d. Dunedin: Okarito, Hs. 9d. (two parcels). Reported sales: Bank of New Zealand, 50s. (late Saturday); Gear Meat, 325. Gd. Unlisted: Charleston, Is. Hid. Auckland:■ Sharemarket sales: Stock, 1949, 4 per cent., £lOl ss;; National Bank of New Zealand, £4 35.; Bank of New Zealand, 495. 9d.; New Zealand Insurance, 525. Gd.; South British Insurance, 695.' 6d.; Auckland Gas, 235. 4d.; ditto (cont.), 175.; Northern Steam, 4s.' 6d.; Gear Meat, 325. 6d.; Wilson’s. Cement, 345. (three parcels); Bel/ Hooper, IOJd.; Gillespie’s Beach, 25.; Waihi, 245.

GOLDEN SANDS RETURN. By Telegraph—Press Association. Christchurch, August 14. Golden Sands, Ltd., Barrytown, reports a return of 42 ounces 10 dwts. for 36 shifts. t / OKARITO GOLD RETURN. Dunedin, August 14. Okarito Gold Company’s return is 98oz. for 118 hours. \ ~ I '< PRICES AT TE KUITI. Te Kuiti, August 12. Dalgety and Co., Ltd., report having held the usual stock sale at Te Kuiti yesterday, when average yardings of both cattle and sheep, were .offered. Values were on a par with those of recent sales and a total clearance was made. Values were: Breeding ewes, 13s. 4d. to 145., broken-mouth ewes 10s. 10d., good wether hoggets 12s. 3d., medium black-faced hoggets 10s. 9d., fresh-condi-tioned cows £1 15s. to £2 Is., boner cows 15s. to £1 55., yearling Jersey heifers, good £2 12s. to £2 195., medium £1 14s. to £2 55., best dairy cows, close to profit £4 to £5-10s., medium sorts £3 to £3 155., backward £2 ss. to £2 155., culled ewes £1 to £1155., medium Jersey and Jersey-cross dairy heifers £3 15s. to £4 55., backward and small £2 ss. to £3. Christchurch: Sales on exchange: New Zealand Government 3J per cent. Inscr. 1938-43, £lOO 12s 6d; Comm. Bank of Aust, 16s 3d; do. (pref.), £8 17s; National Bank of New Zealand, £4 4s; Bank of New Zealand, 49s 9d (2 parcels); Goldsbrough Mort, 26s 5d (3 parcels); New Zealand Refrig. (10s paid), 7s _(? parcel?); Alexander Mines (13s 6d paid), 20s 6d, 20s Bd, 20s 9d, 20s lOd (2 parcels), 21s Id, 21s 3d, 21s 4d; Bell Kilgour, Is 2d; Big River, Is 6d (2 parcels); Bell Hooper, lOd, 9Jd; Freshford, lOd; Golden Dawn, 2s Bd, 2s 6d; Okarito (cum div.), Ils. 9d (3 parcels); Waitahu (5s paid), 7s 5d (2 parcels). Sales reported: Bank of New Zealand, 49s lOd; New Zealand Breweries, 34s lid, 355. SYDNEY MARKET HEALTHY. By Telegraph—Press Assn.—Copyright Rec. 8.10 p.m. Sydney, Aug. 14. In a healthy market to-day investment securities were quoted at firm rates. Sales were: Bank of N.S.W., £33 10s; Commercial Bank of Sydney, £18; Colonial Sugar, £59 ss; Adelaide Steam, 23s 9d; Australian Gas (A), £7 7s; Anthony Hordern, 10s 4d; do. (pref.), 19s 6d; Berlei Ccon.) (N.Z. delivery), 13s 2d; Australian Provincial Assurance, Ils 6d; Farmers’. 12s; Lustre Hosiery, 14s 9d; Meggitts, 20s 3d; Hoyts (A, pref.), 14s 9d; British Tobacco, 35s 3d; Tooth’s, 38s 9d; Morris Hedstrom, 18s 9d; Henry Jones, 38s 6d; United Provisions, 8s 9d; Clifford Love, 48s 6d; Winchcombe Carson, 27s 6d; Wilcox Mofflin, 8s sd; Broken Hill Ppy., 37s 6d; South Broken Hill, 58s; North Broken Hill, 84s 9d; Commonwealth 4 per cent. Bonds, 1938 £lO3 10s, 1941 £lO3 8s 9d, 1944 £lO4, 1947 £lO4 11s 3d, 1950 £lO5 7s 6d, 1953 £lO3 17s 6d, 1955 £lO3 17s 6d, 1957 £lO4 2s Gd, 1959 £lO4 12s 6d, 1961 £lO4 17s 6d. Melbourne reports the following sales: Commercial Bank of Australia, 16s Gd; Goldsbrough Mort, 27s lid; Australian Glass, 50s; British Tobacco, 355; HeraldTimes, 44s 6d; Dunlop Perdriau, 18s 3d; E., S. and A. Bank, 5s lid; Bulolo Gold, 86s 9d.