COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18500, 22 February 1930, Page 21 (Supplement)

COMMERCIAL.

GRAIN AND PRODUCE MARKETS IN CHRISTCHURCH. By Telegraph—Press Association. CHRISTCHURCH, February 21. Wheat continues to come steadily on to the market. There is a great difference between the yields, the lowest so far reported being 17 bushels, and the highest 60 bushels. The average however, seemes to be a little over 30 bushels to the acre. The market is a little weaker than it was, Tuscan selling at 5s 8d to 5s 9d, Hunters at 5s lid to 6s, and Pearl at 6s 2d to 6s 3d. There is very little inquiry for the latter, and it is difficult to sell it. Prompt fowl wheat is quoted at 5s 10s f.o.b. s.e., April-June 5s 9d, April-September 5s lOd, and AprilDecember 6s Id f.0.b., s.e. The market for oats is very firm, and a good deal of business has been done this week. Duns are quoted at 4s 6d to 4s 8d on trucks, though it is reported that 5s on trucks has been offered for an exceptionally choice line at a lid station. A grade Gartons are commanding 3s 9d on trucks, and B’s at 3s sd. Algerians 3s 6d for ordinary up to 4s for best. The North Island has bought some Tasmanian Algerians, and also some Tasmanian Duns. Good chaff is very scarce, and is hard to get at £5 for new season’s on trucks. At this time last year £3 10S to £3 12s 6d on trucks was being paid. Old chaff is quoted at £6 on trucks. There is a disposition on the part of a good many growers to chaff their oats instead of threshing them. The potato market shows a weakening tendency, and to-day’s quotations are £4 10s to £4 12s 6d for April-May-June delivery, £4 17s 6d for July, ahd £5 12s 6d. for August-September. There is an absence of definite inquiry. Dakotas are about 2s 6d a ton dearer than whites, Wellington being practically the only market for these. There is a lack of animation on the onion market which is described as "sick.” To-day’s quotation is £3 10s on trucks. There are some very good crops of barley and some very poor ones. The value of the Cape variety to-day is 3s to 3s 3d on trucks, while malting l* quoted at 4s to 4s 3d. There is very little change in the market for small seeds. Offerings have eased off since the threshing of these seeds. Akaroa cocksfoot is quoted at 8d to 9d, and plains at 7d to 8d on trucks. A few samples of white clover are offering, prices ranging from 8d to lOd per lb, on trucks.

DUNEDIN WEEK-END REPORT. NEW WHEAT OFFERING. By Telegraph—Press Association. DUNEDIN, February 21. A few samples of new season’s wheat have appeared on the market. These have come from early districts such as Central Otago. The quality is exceptionally good, but some time will elapse before the bulk of the wheat will be available in. this district. In the meantime there is no notable change in the market. Millers are not very anxious to buy, but the lines that are appearing have been sampled on a basis of 5s 9d. sacks extra, ex truck, for Tuscan, 5/11 for Hunters, and 6/2 for Velvet. Fowl wheat is quiet. Locally grown fowl .wheat is selling up to 6/3, saGks extra, ex truck. Only small quantities are changing hands. The oats market remains steady. The demand from consuming quarters is very quiet, and there are just about sufficient oats offering to supply requirements. When threshing becomes general the market will ease. At present the f.o.b. values are 4s for A grade Gartons, and 3/10 for B grade, equivalent to 3/3, sacks extra, on trucks at country sidings, for the former and 3/1 for the latter.

It is becoming increasingly difficult to make sales of chaff, as a heavy growth of hay and grass has curtailed the demand. Most of the chaff has had to go into store. Quotations are easier, and £6 per ton is the top price for best quality, ex truck. Potatoes are still in over-supply. Surplus consignments which arrived -about a week ago have not been worked off, but buyers are still operating from hand-to-mouth on account of the potatoes not keeping too well. The value is £6 per ton for best lines. Blight is making its appearance in growing crops, and this will have an effect on yields. The seed market is just starting to open up. First lines of ryegrass have been on offer, but merchants are not keen to operate. Some clean lines of, farmers’ dressed seed have been sold at 5/-, sacks extra on trucks.

Fruit Report. Apples are now in heavy supply, chiefly from Nelson. The quality of most of the lines is very good. Oranges are now in short supply, and prices are firmer. Lemons and grap§. fruit are both in good supply, and aremeeting with good demand. Store fruit of all descriptions was offered at low rates early in the week, but since then supplies have slackened off, and high prices have been ruling during the last few days. The market is likely to remain firm for the rest of the season.

FEILDING EWE FAIR. By Telegraph—Press Association. FEILDING, February 21. Eefore a large attendance of buyers at the annual ewe fair to-day, 24,000 ewes were offered. The sale was very satisfactory throughout, and was marked by an optimistic tone. The older ewes offered were not in as good condition as last year, but young sheep were up to the usual high standard. Eidding was keen throughout for all classes. Good mixed aged ewes made 28/6 to 30/2, four-tooth ewes 27/1 to 29/3, good six-tooths to 30/-; straight lines of good four and five-year olds about 24/-, medium lines 22/-, inferior 18/- to 20/-; inferior two-tooths 25/to 23/-, medium 30/-, good 34/- to 36/-. The highest prices of the sale, 43/6, were obtained for small pens.

CHRISTCHURCH STOCK EXCHANGE. FRIDAY’S LIST. (Special to the “Herald.”) CHRISTCHURCH, February 21. Following were the quotations ruling on ’Change at the afternoon call:— Buyers. Seilers.

THE DAY’S TRANSACTIONS. Sales on ’Change.—Commercial Bank of Australia, 22/9; Union Bank of Australia, £l2/1/6; New Zealand Refrigerating (10/- paid), 5/9, 5/10, 5/11; Westport, 30/8; New Zealand Breweries, 83/-; Tooths Brewery, 39/6 (2); Booth Macdonald (pref.), 4/6; New Colosseum, 40/6, 40/-; Mount Lyell, 33/9 (2), 33/8; Mahakipawa, lid. Sales reported.—Commercial Bank of Australia, 22/10id; United Building Society, 15/2; Booth Macdonald (pref.), 4/7, 4/6 (2); Colonial Sugar, £44; Electro Zinc (ord. cum. div.), 30/-, 29/-.

THE SHARE MARKET. By Telegraph—Press Association. AUCKLAND, February 21. Sales on 'Change.—Bank of New Zealand ("D” mortgages), 26/3. There were only two calls owing to the cricket test. WELLINGTON, February 21. Sales reported.—New Zealand Government 4 i per cent, bonds, 1939, £9B/17/6; J. Staples and Co., £2/8/-; Mount Lyell Mining, £l/4/0 (on ’Change). DUNEDIN, February 21. Sale on ’Change.—Electrolytic Zinc (ord.), 29/6. Sales reported.—National Bank of New Zealand, £6; New Zealand Breweries, 8/9.

1 £ s. d. £ s. d. N.Z. Govt. Debentures— 45 p.c. Inscr., 1938 99 0 0 Ah p.c. Inscr., 1939 99 15 0 4i p.Q. Bonds, 1938 — 99 0 0 45 p.c. Inscr., 1933 99 5 0 — 45 p.c. Bonds, 1933 99 5 0 99 10 0 55 p.c. Inscr., 1936 99 0 0 — 55 p.c. Bonds, 1936 99 2 6 — 55 p.c. Inscr., 1933 99 q 9 — Other Debentures— Waimairi County 5J p.c., 1942 . . — 100 0 0

Ashburton Electric 52 p.c., 1934 . — . 100 10 0 Palmerston North 58 p.c., 1949 . . 97 0 0 — N.Z. Refrigerating 65 p.c. 1935 . . 100 0 0 — Glaxo, 65 p.c. 1945 90 0 0 96 0 0 Booth McDonald 6* p.c., 1932 . . 70 0 0 — Banks— Aust. of Commerce 1 5 1 1 5 3 Comm, of Aust. . 1 2 7 1 2 10 Do. (pref.) — 6 15 0 Comm, of Sydney 21 7 6 21 15 0 E.S. and A 6 12 0 6 13 0 National of A/asia (£10 paid) . . 15 5 0 15 10 0 Do. (£5 paid) . . . 7 9 6 7 11 0 Natl, of New Zea. 6 1 9 6 3 0 New South Wales (cum. div.) . . 40 4 0 40 15 0 New Zealand . . . 2 17 0 2 17 9 Union of Aust. . . 12 1 6 12 4 0 Insurance— National — 0 15 0 New Zealand . . . 2 3 3 2 4 3 South British . . . 3 0 0 — Standard (cum. div.) — 3 0 0 United 8 5 0 — Loan and Agency Dalgety and Co. .. 11 18 0 11 19 6 Goldsbrough Mort i 12 0 i 12 3 National Mortgage 3 0 0 3 16 0 N.Z. Guarantee Corporation . . 0 8 0 0 8 1 N.Z. Loan & Mer. (ord. stk.) . . . 102 0 0 — United Building Society 0 14 0 0 15 4 Shipping— Huddart Parker (cum. div.) . . 1 17 6 1 19 0 New Zealand (pref.) — 9 12 6 P. and O. Deferred Stock 2 8 6 — Union (pref.) . . . 1 0 3 — Frozen Meat— Canterbury (pref.) — 4 10 0 Gear — 1 19 0 N.Z. Refrigerating (£1 paid) . . . 0 11 6 — Do. (10/- paid) .. 0 5 10 0 5 11 North Canterbury Freezing >. .. . — 0 2 9 Wellington (ord.) . 0 4 0 — Woollens— Kaiapoi (17/- pd.) 0 10 9 0 11 10 Do. (7/- paid . . 0 3 3 0 3 8 Mosgiel — 7 10 0 Coal— Grey Valley . . . 1 6 0 1 7 6 Westport 1 10 6 1 11 2 Stockton (ord.) , . 0 0 9 0 2 0 Do. (pref.) ..... 0 1 0 0 3 3 Gas— Christchurch . . . 1 5 9 1 5 11 Breweries— Carlton 1 18 6 1 19 3 Monteith’s .... — 1 0 0 New Zealand . . . 4 2 7 4 3 4 Staples 2 8 0 2 8 3 Timaru 0 14 10 0 15 9 Do. (5/- paid) . . . 0 7 0 0 7 9 Tooth’s 1 19 9 2 0 0 White Star .... 0 15 0 0 17 6 Miscellaneous— Aust. Distillery . . — 1 0 0 Beath and Co. . . 1 9 9 1 12 6 Do. (1/- paid) . . . 0 6 8 0 7 3 Booth, McDonald (pref.) 0 4 3 0 4 9 British Tobacco . 2 2 1 2 2 4 Colonial Sugar . . 43 15 0 44 2 6 East African Coffee 1 0 0 — Eclipse Petrol (£1 paid) 0 14 6 0 19 0 Do. (15/- paid . . . — 0 11 0 Electro Zinc (ord cum div.) . . . 1 9 0 1 10 0 Do. (pref. cum d.) 1 10 0 1 10 4 Hayward’s Pictures — 0 17 9 Holden’s Motors (cum. div.) . . . 0 13 0 0 17 0 Howard Smith . . . — 0 19 6 Kauri Timber . . — 0 15 9 Mason Struthers (£1 paid) . . . . 0 11 3 — Do. (10/- paid) . . — 0 6 9 Mount Lyell . . . 1 13 6 1 13 9 N.Z. Drug Co. . . 3 12 0 3 12 6 N.Z. Farmer s’ Co-op. (1st pr.) — 4 2 6 Do. (A. pref.) . . . 2 7 6 2 15 0 Do. (65 per cent stock, 1939) . . — 88 0 0 N.Z. Farmers’ Fertiliser 1 0 6 1 1 3 N.Z. Sugar of Milk (pref.) — 1 0 0 Quill, Morris . . . 0 13 7 0 14 8 Wunderlich . . . . — 1 10 0 Wilson’s Cement . 1 18 8 1 19 4 W. R. Cooke and Son 0 12 0 — Mining— Mahakipawa . . . 0 0 1 0 0 15 Winding Creek (6d paid) — c 0 8 Kuala Kampar (cum. div.) . . c 8 0 — Stoney Creek (6d paid) — 0 0 9