FINANCE AND COMMERCE

Taranaki Daily News, 26 September 1933, Page 12

FINANCE AND COMMERCE

BUTTER MARKET FIRM. NEW ZEALAND FINEST SALTED, 110 s. CHEESE PRICES STEADY. . There was a substantial advance of 7s to 9s a cwt. in the price of New Zealand salted butter 'in London last week, the market closing firm on Friday at 105 s to 110 s, the highest level recorded since last October. . The retail price of New Zealand butter will be increased in London this week by Id to Is Id a lb. Inroads have been made on butter stocks in Britain, the Empire Marketing Board’s estimate of the stocks of all butters being 963,511 boxes, compared with 715,820 boxes a year ago. Deliveries of New Zealand butter last week were 2560 tons, compared with 2277 tons for the previous week, and the quantity in store was 6113 tons, compared with 6788 tons at the end of the previous week and 9800 tons at the end of July. Australian supplies in London are very short, deliveries last week being 535 tons, and stocks 955 tons. The cheese market improved last week and closed steady. 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, 105 s to 110 s (98s to 101 s; September 22, 1932, 108 s to 114 s); 105 s to 110 s equals approximately 12.66 d f. o.b. Unsalted, 108 s to 112 s (102 s to 114 s; September 22, 1932, 110 s to 114 s). First whey, 945; second whey, 925. Deliveries, New Zealand, 2560 tons. In store, New Zealand, 6113 tons, includes ex Karamea and Surrey, 1262 tons. Australian, salted 106 s to 110 s (99s to 101 s); unsalted, 110 s to 112 s (106 s to 102 s). Deliveries, Australian, 535 tons; in store, 955 tons. Estonian, salted, 92s to 96s (88s to 90s); unsalted, 92s to 945. Latvian, salted, 92s to 96s (88s to 925). Lithuanian, salted, 92s to 96s (88s to 90s); unsalted, 92s to 945. Siberian, 86s to 92s (845.t0 86s). Ukrainian, 84s (80s to 82s). Danish, 96s f.0.b.; 118 s spot, quiet (99s to 120 s). Dutch, unsalted, 114 s to 118 s, quiet (116 s to 110 s). The board has also received the following advice from its agents in Canada: Butter, New York, 24 cents; Montreal, 20 cents a lb. Cheese. New Zealand, white, 545, 54s 6d to 55s (52s 6d to 535; September 22, 1932, 63s to 645); coloured, 54s to 55s (53s 6d to 54s 6d; September 22, 1932, 59s to 60s). 54s to 55s equals approximately 5 7-8 d f.o.b. Deliveries, New Zealand 22,771 crates; in store, 105,623 crates, includes ex Karamea 14,500 crates. . f Australian, white and coloured, 535. Canadian, white, 535, 56s to 58s (56s to 58s); coloured, 545, 56s to 58s; c.i.f., 56s 6d (545). Deliveries, Canadian, 11,500 boxes; in store, 103,000 boxes. English finest farmers, 74s to 78s (74s to 78s). SYDNEY MARKET ACTIVE. By Telegraph—Press Assn.—Copyright Rec. 8.20 pan. 1 Sydney, Sept. 25. Although there was no very pronounced change in prices the Stock Exchange' remained exceedingly active to-day. Here and there was slackness due to profit-taking. Gilt-edgeds were rather overshadowed, but all bond issues retained their strength. There is excellent inquiry for tin shares and better-class trading concerns, also banks, which were firmer. Sales were: Bank of New South Wales, £33 17s. 6d.; Commercial Bank of Sydney, £lB 10s.; Commercial Bank of Australia, 17s. 3d.; English, Scottish and Australian Bank, £6 2s. 6d.; Union Bank, £lO 17s. 6d.; National Bank (£5 paid), £6 17s. 6d.; Queensland National Bank, £5 135.; Colonial Sugar, £59 17s. 6d.; Provincial Assurance, 12s. 6d.; Austra-

lian General Insurance, 11s. 5d.; Howard Smith, 12s. 6d.; Berlei, 275. 6d.; British Tobacco, 375.; Dunlop Perdriau, 19s. 6d.; ditto (pref.), 335. 6d.; Goldsbrough, Mort, 19s. IOJd.; Anthony Hordern, 11s. 5d.; ditto (pref.), 205.; Automatic Totalisators, 16s. 7Jd.; David Jones, 335. 6d.; Newcastle Gas (C), 12s. Id.; Standard Cement, 16s. 6d.; Australian Iron and Steel, 17s. 4Ad.; Morris Hedstrom, 205.; Wilcox Mofflin, 9s. 3d.; Winchcombe Carson, 285.; Hume Pipe, 10s. 6d.; Gibson and Howes, 245.; Wunderlich, 225.; Broken Hill Proprietary, 405.; South Broken Hill, 695.; ditto (N.Z. delivery), 695.; Kuala Kampar, 95.; Mount Morgan, 595.; Bulolo Gold, 965. 6d.; Bulolo Deposits, Is. 9d. Melbourne reports the following sales: Commercial Bank of Australia, 17s. 4d.; Goldsbrough, Mort, 305.; Dunlop Perdriau, 19s. 5d.; Mount Lyell, 235. 6d.; North Broken Hill, 90s.