COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18617, 12 July 1930, Page 20

COMMERCIAL.

GRAIN AND PRODUCE MARKETS. POTATOES FIRMING. By Telegraph—Press Association CHRISTCHURCH, July 11. Chief interest in the market this week has been centred in the potato section in which there has been a movement upwards. For some weeks It has been impossible to buy tubers from the growers at an “on trucks” price on a parity with f.o.b. values. The firming in the latter values during the past two days has partially rectified this anomaly. There is a much brighter tone generally to-day, the chief cause being that Auckland is being cleared of supplies. The Katoa left yesterday taking only 734 sacks from Lyttelton, and she had no potatoes from Timaru. The Waipiata is due to sail to-night or to-morrow with 2485 sacks from Timaru, and under 1000 from Lyttelton. There probably will not be another boat until late in next week. Quotations are £4 to £4/2/6 on trucks to farmers, and £5/2/6 to £5/5/-, f.0.b..5.i., for “prompts,” £5/5/- for Julys, and £5/15/- for August-Septembers. Orders are now coming to hand from other ports more freely than for some time.

The oats market is a little brighter. The local market is especially firm, Canterbury B. Gartons having been sold for Lyttelton shipment at 4/-, f.0.b.,5.i. To-day southern quotations are 3/11, f.0.b.,5.i., for “prompt” A. Gartons, and 3/9£ for B’s. For spread delivery, A’s. are worth from 3/11 to 4/-, and B’s. 3/10.

The chaff market is steady, and sales have been made at £6/17/6 to £7, f.0.b.,5.i., for prompt delivery, equivalent to £5/7/6 to £5/10/- on trucks. Chaff for later delivery is not offering in any quantity. With the end of the season at hand, there is little interest in the onion market. The nominal price to growers is £2/10/- to £3 a ton, on trucks.

Offerings of milling wheat have practically ceased, and the Pool is the chief holder.

Fowl wheat remains firm, with good inquiry at 6/-, f.0.b.,5.e.

DUNEDIN REPORT. By Telegraph—Press Association DUNEDIN, July 11. The only inquiry for wheat is for Tuscan. There is not a great deal of this variety on offer, and it appears that during the past season or two the proportion of other varieties to Tuscan has increased. Prices ruling to-day are based on Pool values, these being equivalent to 5s lOd (sacks extra, on trucks) for Tuscan, and 6»; for Hunters. During the past week or two the demand for seed wheat has fallen off. Fowl wheat is scarce. Best quality fowl wheat is' firm at 6s 3d (sacks extra, ex store). The oat market is changing under the influence of forward operations. Quotations are now down to 3s lOd f.o.b. s.i. for A’s. with 3s 8d for B’s. A limited amount of business is going through, and the pressure to sell may cause the market to recede still further. All the stocks of oats are practically now in the stores, and for some

time there have been few offerings from growers. The current f.o.b. values are equivalent to 3s 2d (sacks extra, on trucks) for A’s and 3s for B’s. The chaff market continues purely a local one, there being just about sufficient consignments to meet the demand, which is very limited. Values remain steady, and best quality is worth £5 15s (sacks extra, ex truck). Medium and poor quality is in better demand at £4 10s to £5 5s according to quality. The local potato market is quiet, but values remain steady. Otago grown potatoes are practically exhausted, and the local market is kept supplied from j Canterbury. Freshly dug lines are quoted at £5 5s (sacks included, ex truck). There is little to report about the seed market. Business has been restricted throughout this season owing to the poor crops, particularly of rye- , grass and dogstail. NEW ZEALAND BREWERIES. REDUCED PROFITS. By Telegraph—Press Association. WELLINGTON. July 11. The annual meeting of New Zealand Breweries, Ltd. was held to-day. Dr. P. F. McEvedy. who presided, referred to the loss sustained by the death of Mr Thomas Madden, managing director. He said economic conditions, accompanied by a large measure of unemployment, had affected the Company, a decrease in sales being re- « fleeted in decreased profit. The gross j profit for the year was £599,728, from | which £476.690 was paid to the Go- j vernment by way of beer duty, leaving 1 a net profit of £124,038. Two interim i dividends absorbed £93,750, leaving ! £48,037 to be appropriated. The directors proposed that £35,000 be placed to the reserve fund, and proposed to carry forward a balance of £13.307. The Company’s offer to holders of debenture stock to convert holdings into fully paid shares had resulted in holders of £684,629 availing themselves of the offer. The total amount of debentures was £750,000. The directors intended to provide for the redemption of the balance of debentures in 1933. The report and balance sheet were adopted. The retiring directors, Messrs H. W. M. Greenslade, Alfred Louisson and Hugh T. Speight, were re-elected. CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S QUOTATIONS. to the "Hernld.”) CHRISTCHURCH, July 11. The following stock was quoted on

THE DAY’S BUSINESS. Sales on ’Change: E.S. and A. Bank £5/19/6; Union Bank of Australia £ll/7 6 (3), £ll/9/-; New Zealand Breweries 50/6; Holden’s Motors 10/-; Mount Lyell 23/8; Stoney Creek (6d paid) 5d (2). Sales reported.—New Zealand Government, 4i per cent. Inscr., 1938, £99-10.'-; National Bank of Australasia (£lO paid) £l4/7/6 (2); Westport Stockton Coal (pref.) 2/9; Union Bank of Australia- £ll/10/-.

THE SHAREMARKET. By Telegraph—Press Association AUCKLAND, July 11. Sales on 'Change: Commercial Bank of Australia 21 20TO. 20 9; Bank of New South Wales £37/15 -; South British Insurance 59 6; Goldsbrough Mort 27/-; Renown Collieries <pref.) 3-; Farmers’ Trading 2/10; Waihi Gold Mining 14/3; Mount Lyell 24/-. DUNEDIN. July 11. Sales on 'Change: New Zealand Drugs 62 6. Sales reported: New Zealand Breweries. 51/- (late sale Thursday).

'Change to-day:— Buyer s. Sellers. £ s. d. £ s. d New Zealand Govt. Stock— 46 p.c. Inscr., 1938 99 7 6 — 4-' p.c. Inscr.. 99 5 0 — 46 p.c. Bondi, 1938 99 7 6 99 12 6 46 p.c. Bonds, 1939 99 7 6 — 5\ p.c. Inscr.. 1932 98 10 0 — 56 p.c. Inscr., 1933 99 7 6 — 56 p.c. Bonds. 1933 99 7 6 — 56 p.c. Inscr., 1936 99 5 0 — 56 p.c. Bonds. 1936 99 5 0 — 56 p.c. Inscr.. 1937 99 5 0 — 56 p.c. Bonds, 1937 99 5 0 — Other Debentures— North Canterbury Hospital, 5i p.c. 1940 99 10 0 100 5 0 Glaxo. 66 p.c. 1945 90 0 0 — N.Z. Refrig.. 61 p.c., 1935 91 0 0 96 0 0 Banks— Adelaide 6 5 0 6 19 0 Aust. of Comm. . 1 2 7 1 2 11 Australasia .... — 12 8 6 Comm, of Aust. . 1 0 11 1 1 0 Comm, of Sydney 19 15 0 19 17 6

E.S. and A. . . . Natl, of Aust. (£10 5 19 9 6 1 0 paid) 14 7 6 14 9 6 Do. (£4 paid) . . . Natl, of N.Z. (cum. 7 0 6 7 2 6 div.) 5 15 0 5 19 0 New South Wales 37 12 6 37 15 0 New Zealand . . . 2 17 4 2 17 9 Union of Aust. . . 11 9 0 11 11 0 Insurance — A.P.A. • New Zealand (cum 0 7 0 0 7 7 div.) 2 7 0 2 7 2 South British . . 2 19 6 3 0 3 Standard .... 3 0 0 Loan and AgencyDalgety and Co. . 11 4 0 11 19 0 Goldsbrough Moft Christchurch Bldg. 1 7 4 1 8 6 Society .... National Mortgage 13 10 0 15 0 0 (£1 paid) . . . 1 11 0 — United Building Society .... 0 15 0 0 15 8 Permanent Investment 10 5 0 - Shipping— Huddart, Parker . 1 18 6 Do. (pref.) .... New Zealand (6 0 19 6 — p.c., cum div.) P. and O. Deferred — 9 10 0 Stock 2 1 6 — Frozen Meat— N.Z. Refrig (£1

paid) 0 9 5 0 11 6 Do. (10/- paid) . 0 4 7 0 5 2 North Canterbury Freezing . . . — 0 2 3 Woollens— Kaiapoi (7/- paid) 0 4 0 0 13 0 Coal — Grey Valley . . . 1 2 6 — Westport 1 11 6 — Stockton 0 1 6 0 2 0 Do. (pref.) . • . 0 2 6 0 3 9 Gas— Ashburton .... 5 5 0 — Christchurch . . 1 5 5 1 5 10 Do. (10/- paid) . 0 12 9 0 13 0 Timaru ..... 1 1 0 — Breweries— New Zealand . . . 2 10 3 2 10 8 Staples 2 6 0 2 7 0 Timaru — 0 14 0 Do. (5/- paid) . . 0 6 0 0 7 0 Toohey’s 0 19 11 1 0 11 Tooths 1 10 3 1 10 5 Ward 0 10 0 0 11 9 White Star .... — 0 14 0

Miscellaneous — Australian Distil- ' lery 0 19 6 1 2 0 1 Heath and Co. . . 1 7 6 1 9 11 ! Do. (1/- paid) . . 0 6 3 0 7 0 British Tobacco . 1 16 6 i V 7 0 Burns, Philp . . . 1 10 0 14 6 Dunlop Perdriau If-. 1 Rubber .... 0 12 10 0 13 2 Electro Zinc (ord., cum div.) . . . 1 0 3 Ik. 0 9 Do. (pref., cum d.) 1 2 *3 1, 3 3 ! Holden’s Motors . 0 9 10 ; 0 10 1 Mount Lyell . . . 1 0 9 1 3 11 Do (rights) . . . 0 2 1 0 2 2 N.Z. Drug Co. . . 3 3 0 — 1 Kauri Timber . . 0 13 9 — j N.Z. Farmers’ Coop. (1st. pref.) — 4 0 0 Do. (A. pref.) . . — 2 5 0 Do. (B. pref.) . . 2 3 6 2 10 0 Do. (6i p.c. Stock 1939) 72 0 0 80 0 0 Do. 65 p.c. Stock, 1940) 74 0 0 — Do. (65 p.c. stock, 1945) 75 0 0 N.Z. Farmers’ Fertiliser (cum d.) 1 0 3 N.Z. Paper Mills . 0 19 0 — North Canty Co-op. Flour 0 12 6 0 15 0 Wilson’s Cement . 1 17 6 2 3 6 Mining— Alexander .... — 0 11 0 Kawarau 0 0 3 0 o Mahakipawa . . . 0 0 n 0 0 25 Okarito 0 6 0 0 8 0 Stoney Creek (6d paid) .. .. 0 0 5 0 0 6 W a i h i Grand Junction . . . 0 2 0 0 3 0 Winding Creek (1/paid) . . . . . 0 0 1 0 0 7 Do. (Gd paid) . . 0 0 1 0 0 3 Cornish Point (1/paid) 0 0 25 0 0 95