COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18512, 8 March 1930, Page 7

COMMERCIAL.

GRAIN AND PRODUCE MARKETS. CHRISTCHURCH REPORT. By TelesxsDb—Press Association. CHRISTCHURCH, March 7. Most of the offerings on the local markets this week have been of wheat, and most other lines have been more or less neglected. Plenty of Tuscan wheat is offering, and it is being sold at 5/8 to 5/9, on trucks, and at a few pence per bushel less for qualities which will not grade. There is more Hunters about this season than for a good many years, and it is difficult to find buyers because of the large quantity offering. Growers are asking 6/-, but buyers are offering 5/10 to 5/11, on trucks. Growers of Pearl are still asking 6/3 on trucks, but buyers’ ideas of values are a little less than this. Fowl wheat is still quoted at 5/9h to 5/10 for both “prompt” and forward delivery, f.0.b., sacks extra. The market for oats is a little weaker than it was. A. grade Gartons are quoted at 3/1 li for April-September, and B’s. at 3/8* for same delivery. Algerians and Duns are hard to sell, owing to the importation into the North Island of Australian and Tasmanian oats. To-day’s quotations are: Algerians 3/- to 3/3, Duns 4/6 to 4/9, Gartons 3/6 to 3/8, on trucks. There is not much old chaff about, and the value to-day is £6/15/-, f.0.b., Lyttelton, for April-May-June sjjiipment. Buyers in Auckland have secured supplies from Tasmania on the basis of £5/5/-, f.0.b., Devonport. This chaff will be landed in Auckland at about £B/10/- a ton. The freight on chaff from Lyttelton to Auckland is £2/5/-, and this, plus other charges, brings the price of Canterbury chaff landed in Auckland up to £9/5/-. There are two prices for linseed—£ls and £l4/10/- a ton, the latter being for New Zealand seed. Most of the linseed in Canterbury is grown under contract, the contract price this season being £ls a ton. There is a larger area in linseed this year than there has been for years—about 6000 acres of contract seed and about 2000 acres of free seed. The crops have matured quite satisfactorily, and the out-turn promises to be up to expectations. The bulk of the barley crop also is grown under contract, but there is some free barley. The have done fairly well this year. The price of malting is 4/- to 4/6, and Cape is quoted at 3/- to 3/6, on trucks. There is a good crop of onions, but the price is very discouraging—£3/5/- to £3/10/- a ton. on trucks. The introduction of a higher tariff in America on imported onions has effectively prevented any of the surplus from New Zealand going to that country. The duty on New Zealand onions imported to the United States , is £9 a ton, and an effort is beingmade to get some New Zealand onions to Canada next month. Grass seeds have not been offering in any quantity, and there is very little alteration in prices. If anything, this market has a weakening tendency.

THE DUNEDIN MARKETS. LACK OF BUYING REPORTED. By Telegraph—Press Association. DUNEDIN. March 7. The threshing of wheat is becoming general in most districts, and so far the quality is good. Yields, moreover, are up to the average, and are expected to be maintained in most districts with the exception of the Taieri, where late sown crops are backward. Millers are not very anxious to purchase lines now on offer, and it is only for lines of exceptional quality for prompt delivery that buyers can be found. Prices to farmers may be given as 5 9 (sacks extra, country sidings) for Tuscan, 5/1 for Hunters, and 6/2 for Velvet. These prices are equivalent to Pool rates. The market continues short of supplies of fowl wheat. About 6/- per bushel, sacks extra, ex trucks, can be stated as to-day’s market value. The oat market shows a decided weakening, and apparently is being affected by the overseas position in the same way as the wheat market. Forward sales were made at as high as 4/li, f.0.b., s.i., for spread delivery, April to September, but to-day's quotation is 4/-. A Grade Gartons have been sold during the week at 3/11 f.o.b. s.i. The current quotation to farmers is 3/2 (sacks extra, country sidings) for A’s, and 2/11 for B’s. There is, however, a fair demand for Dun oats, but their value has eased in sympathy with that for other oats. Chaff is being sold at £5 10s to £6, ex trucks, sacks extra, Dunedin. Medium and poor quality chaff is slow of sale. Growers have been taking advantage of the present fine weather to send potatoes to market, and although consignments have now cased off considerably, the supply is more than equal to the demand. Current value for best quality is £6 per ton, sacks included, ex store. Ryegrass is becoming more difficult to sell. For machine-dressed seed the present value of good clean lines is 5/- per bushel, sacks extra, ex trucks.

DALGETY’S REPORT. LONDON, Macrh 7. Frozen Meat:—The market for New Zealand lamb is weaker, and demand is not improved by the change in prices. The market for New Zealand mutton is unchanged, with demand fair. New Zealand pork is firm, and demand active. Australian lamb is very weak, with demand poor. Australian mutton is firm, and demqnd moderate. We quote:— New Zealand prime lamb. 28 to 36 lb, Canterbury 9.’,d, North Island 9 l-8d; 36 to 421 b. Canterbury 9id, North Island 9 l-8d: second quality, Canterbury 8 7-Bd. North Island 82d; 42 to 501 b, Canterbury 9d. New Zealand prime mutton.—4B to 561 b. Canterbury B£d, North Island 8d; 56 to 641 b, Canterbury Bd, North Island 73d; 64 to 721 b, Canterbury 7 3-Bd, North Island 7sd. Australian lamb, g.a.q., 28 to 361 b 9d; 36 to 421 b 9d; f.a.q., 28 to 361 b 7*d; third quality 7d; Australian mutton, g.a.q., 40 to 601 b 6*d; f.a.q., 30 to 55 lb 6 l-Bd. Pork.—English and Dutch. 80 to 1201 b 12d: “A” New Zealand porkers. 80 to 1001 b lid; “B” New Zealand porkers. 100 to 1201 b 101 d. Butter.—The market is weak and depressed. Danish 168/- to 170/-: finest New Zealand salted 140/- to 142/-; Australian unsalted 140/- to 142/-, salted 136/- to 140/-; Australian g.a.q. 132/- to 134/-. Cheese.—Market weak and depressed. Australian white 82 - to 84/-; Australian coloured 82/- to 84/-; New Zealand white 83/- to 85/-; New Zealand coloured 83/- to 85/-; Canadian white 92/- to 98/-; Canadian coloured 92/- to 98/-.

CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. (Special to the "Herald.”) CHRISTCHURCH. March 7. Quotations ruling on ’Change this afternoon were as follows:

Sales on ’Change.—Australian Bank of Commerce. 24 11; Goldsbrough Mort, 30 TO (2); N.Z. Refrigerating (10/- paid), 5 8; New Zealand Farmers Co-op. 6i per cent, stock. 1940, £B7; Winding Creek <6d paid), Bd, 7d. Sales reported.—National Bank of Australasia £5 paid), £7 ss; Bank of New South Wales. £4O; Goldsbrough Mort, 31/-; Gear Meat. 38 3; British Tobacco, 42/-; Mt. Lyell, 33 3.

THE SHARE MARKET. By Telegraph—Pres* Ajmoclatlon. AUCKLAND, March 7. Sales on ’Change—lnscribed Stock 1936 per cent. £99 ss: Auckland Harbour Board 1941, 6 per cent. £102; Hamilton Borough, 1935 5 V per cent. £9B; Commercial Bank of Australia, 21s lOd: National Bank of Australasia. £ls; Bank of New Zealand 57s l*d; New Zealand Insurance. 43s 9d; Grey Valiev Coal, 26s 9d; Donaghys Rope, 345: Milne and Choyce (debentures), 27s 3d. Whittome, Stevenson, 40s; Moanataiari, 2s 2d; Waihi, 13s 7d.

WELLINGTON, March 6. Sales on ’Change—Bank of Australasia, £l2 3s 6d; Commercial Ban.v of Australia (pref.). £6 9s Od: Bank of New South Wales. £4O 0s Od; Bank ol New Zealand, £2 16s lid. and £2 17s Od: Union Bank of Australia £l2 Is Od; Gear Meat Coy, £1 18s 3d: New Zealand Breweries Shares, £4 Is 4£d; Mt. Lyell Mining, £1 13s Od.

Buyers. 8ellers. £ s. d. £ s. d. N.Z. Government Debentures— 44 p.c. Inscr., 1938 — 97 15 0 4* p.c. Inscr.. 1939 97 0 0 97 15 0 4* p.c. Bonds. 1938 97 10 0 98 0 0 5i p.c. Inscr.. 1941 — 99 0 0 5* p.c. Inscr., 1932 and 1933 .. . . 99 0 0 5i p.c. Inscr., 1933 99 5 0 — 5* p.c. Bonds, 1933 99 5 0 — 5* p.c. Inscr., 1936 99 0 0 99 12 6 5* p.c. Bonds. 1936 99 5 0 — 5£ p.c. Inscr., 1937 — 98 0 0 51 p.c. Stock. 1941 —. 98 0 0 Municipal Debentures— 58 p.c. Palmerston North, 1949 .. — 96 10 0 Christchurch City Council, 52 p.c. 1955 100 0 0 101 0 0 Ditto, 5i p.c.. 1950 — 97 0 0 Company Debentui Glaxo 61 p.c., 1945 90 0 0 95 0 0 Banks— Adelaide 7 0 0 7 7 6 Aust. of Commerce 1 4 10 1 5 0 Australasia (cum. div.) 12 2 6 12 5 0 Comm, of Australia 1 1 10 1 2 4 Do. (4i p.c. cum pref.) _ 7 0 0 E.S. Sc A 6 5 0 6 6 0 National of Ausltralasia (£10 paid) 15 3 0 Ditto (£5 paid) .. 7 3 0 7 4 0 National of N.Z... 5 19 6 6 0 0 New South Wales. 39 17 6 40 2 6 New Zealand .. .. 2 17 0 2 17 3 Mortgage Shares — 1 7 6 Union of Aust. .. 12 0 0 12 2 0 Insurance—• National 0 14 0 0 14 3 New Zealand .. .. 2 3 5 2 3 9 South British 2 19 6 — Standard — 2 17 3 United 8 16 0 9 1 0 A.P.A — 0 6 9 Loan and Agency Dalgety and Co. .. 11 3 6 11 8 6 Goldsbrough Mort. 1 10 10 1 10 11 N.Z. Guarantee Corporation 0 8 2 0 8 6 United Build. Soc. 0 14 .1 0 15 1 National Mortgage 3 2 0 3 12 0 Shipping:— Huddart Parker .. 1 14 6 1 16 0 P. Sc O. Deferred Stock 2 8 0 Union (5i p.c. cum. pref.) 1 0 1 1 1 0 Frozen Meat— Canterbury (pref.) 4 9 0 N.Z. Refrig. (£1 paid) 0 11 4 0 11 11 Ditto (10 - paid).. 0 5 7 0 5 9 North Canterbury Freezing .. .. - 0 2 9 Woollens— Kaiapoi (17/- pd.) 0 9 6 0 12 6 Ditto (7/- paid) . 0 3 1 0 3 7 Coal— Grey Valley .. .. 1 6 6 1 7 6 Westport — 1 11 0 Westport-Stockton 0 1 0 0 1 9 Gas— Christchurch .. .. 1 6 0 1 6 2 Timaru 1 4 6 Breweries— Carlton 1 15 1 1 15 6 Fosters — 3 10 0 New Zealand .. .. 4 0 3 4 0 9 Staples 2 6 0 2 7 9 Monteith's 0 19 0 1 0 0 Timaru 0 15 0 0 15 0 Do. (10/- paid) .. 0 6 0 0 7 6 Tooths 1 16 6 1 18 0 White Star .. .. — 1 0 0 Miscellaneous— Allied Motors 0 3 0 Booth MacDonald (pref.) 0 2 9 0 5 6 Amalgamated Wire less (part paid) 1 0 0 1 3 0 Australian Distilleries 0 18 0 Australian Glass. 2 1 0 2 3 6 Beath Sc Co. 1 9 6 1 12 6 Ditto (1 - paid) .. 0 7 1 0 7 5 British Tobacco (Australia) 2 1 11 2 2 2 Broken Hill Propy. — 1 3 0 Burns, Philp .. .. — 1 17 9 Colonial Sugar 43 10 0 44 0 0 Dunlop Rubber 0 17 5 0 17 10 East African Coffee 1 9 0 1 15 0 Electro Zinc (ord. 8 p.c. part pref.) 1 5 2 1 6 2 Glenmore Brick and Tile .. .. 1 2 0 Greater Crystal Palace 1 0 0 Hayward’s Pictures — 0 16 9 Henry Jones Co-op 1 9 7 1 11 0 Kauri Timber — 0 15 3 Mt. Lyell 1 12 1 1 12 4 N.Z. Drug Co. — 3 12 0 N.Z. Farmers’ Co-op. 6 p.c. cum. div., 1st pref.aiO ( 6 p.c. cum div. (1st pref.) .. .. 4 2 0 Ditto (“A" pref.) 2 10 0 2 15 0 Ditto (“B’’ pref.) 2 15 6 2 17 6 Ditto (6i p.c. Stock 1 1940) 87 0 0 90 0 0 N.Z. Paper Mills.. 0 18 9 1 0 3 N.Z. Sugar of Milk (pref.) .. ?. .. 1 0 0 Victoria Nyanza .. 1 18 9 2 0 0 Wilson's Cement.. 1 18 0 1 19 0 Wunderlich . . . . — 1 10 0 f Booth, McDonald j (pref.) 0 3 11 0 4 11

Mining — Alexander Mines.. — 0 15 Kildare — 0 Mahakipawa .. .. 0 0 1 0 0 Okarito — prem. Stoney Creek (6d paid) 0 0 7 0 0 Winding Creek (1 /- paid) .. .. 0 0 10 0 1 0 Winding Creek (6d paid) .. .. 0 0 7 0 0 Ratrut — 0 7 0