COMMERCIAL

Timaru Herald, Volume CXXXVI, Issue 19154, 9 April 1932, Page 15

COMMERCIAL

GRAIN AND PRODUCE MARKETS POTATOES REMAIN FIRM. By Telegraph- Press Association CHRISTCHURCH, April 8. The potato market is firm, although no quotable alteration in prices has been recorded. A number of sales have taken place at £5/10/- per ton for April-May-June delivery. Julys are quoted at £6/5/- f.o.b. si.., and the limit of the market has extended to include a quotation of £7 per ton f.o b. s.i., for late delivery, July-August-September. There is little or no North Island inquiry at the moment. Fowl wheat is very firm, and prices have advanced. To-day’s quotation is 4/8 f.o.b. for prompt, and 4/9 for “spread.” The oats market remains unchanged. DUNEDIN WEEK-END REPORTS. MUCH UNDER-GRADE WHEAT. By Telegraph—Press Association DUNEDIN, April 8. In samples of milling wheat coming to hand, a number of indifferent lines are being sent forward from districts south of Dunedin, consequent on farmers thrashing out of the stook before the sheaves are thoroughly dry, and through some of the crops being affected by rust. Sound lines suitable for milling are being accepted by millers at the prices fixed by the Wheat Marketing Agency, namely 4/8$ f.o.b. for s Tuscan, 4/10$ for Hunters, and 5/0$ for Velvet.

Good demand exists for fowl wheat, the market for which is firm at 4/6 sacks extra, delivered at Dunedin. This price is for sound quality only, and it is difficult to place under-grade wheat. For the latter quality 6d to 9d per bushel less has to be accepted.

The oat market continues firm, with prices showing an advance. The firmness has been brought about by the purchase of oats for immediate lequirements. Millers and North Island merchants require oats, and the demand for the time being is really greater than the supply. Prices appear to have been rushed up to a rather ...ngerous level, and it is now reported that oats can be bought in Adelaide on a basis of 1/84. These could be landed in the North Island below the rates now being paid to farmers in the South Island. As is the case with wheat, the quality of oats varies considerably. There are a few lines of A grade Garton’s but the greater part of the samples are under grade. The current value for A’s is 3/1, sacks extra on trucks at country sidings on handy railages, with B’s 3d per bushel less. Undergrade oats are worth about 2/6, sacks extra, on trucks. For shipment, A Gartons are worth 3/8 f.o.b. s.i., B’s 3/5, and undergrade 3/2.

Little business is being done in chaff, and prices have not shown any advance nothwithstanding the firmness in the oat market. The value of good chaff ex truck is £4/10/- sacks extra. Small lots ex store are worth £5.

The potato market is in a rather peculiar position. For “prompt” delivery the market is irregular, and the highest price obtainable for best quality is about £4/10/- sacks in, ex truck. North Island, merchants are not showing any great' interest in quotations for “prompt” shipment. The market for forward delivery is firmer,

and there has been a good deal of speculative business. The seed market is quiet. North Island merchants are not buying, and the seasonal retail demand for the South Island is now finished. Ryegrass is still quoted at high figures, but the market is quiet. Clovers is firm. Up to the present no orders have been received for fescue, and this market is weak, the highest price being paid for machine dressed being 6d per lb. Fruit Report. 4 Heavy supplies of apples are still arriving from Nelson. The quality of Nelson apples this year is much better than in previous years. Choice Central grown Cox’s orange have keen demand. Delicious and Jonathans are offering from Central Otago, but retailers prefer Nelson grown, as those from Central are not yet ready for immediate use. Low prices are ruling in northern markets for apples, and that is no doubt the reason why such heavy supplies of Nelson apples are being sent to the local market. Cookers are in heavy supply, and prices are low. There is better demand for dessert pears. Winter Coles from Nelson are almost finished, and the Central grown are hardly ready. The orange market is very firm. A small line of Californian which arrived during the week realised 50/- per case. A good shipment of Valencias is expected on Tuesday from Melbourne. The Wainui will also bring a small shipment of Australian grapes. Lemons are in better supply, and prices are little easier. A shipment of Samoan bananas which arrived a few weeks ago has now been cleared up. A line of Rarotongan grown came to hand towards the end of the week. About 400 cases of Tongan grown reached the market in bad condition, and these had to be sold at low rates.

Tomatoes are still in heavy supply. The market was a little firmer early in the week, but this was only temporary, and low prices are again ruling. BUTTER AND CHEESE. The Loan and Mercantile Agency Company Ltd., have received the following cablegram from London dated 7th April:— New Zealand butter.—lo 9- to 110/per cwt. New Zealand cheese.—White, 63/per cwt., coloured 64/-. HOME STOCK EXCHANGE. AUSTRALIAN ISSUES HARDEN. United Preaa Association—By Electric Telegraph— v. r LONDI.<, April 7. A slight hardening of stocks was noticeable, following the announcement of the proclamation. There was also some selling of the higher priced Commonwealth and State stocks, reinvesting in cheaper Australian issues, notably New South Wales. Shares. F. and O. deferred stock 18/5Sd. METAL MARKET. United Press Association—By Blectrlo Telegraph -Copyright LONDON, April 7. Gold is quoted at 109/- per fine ounce. Silver —Spot 16 13-16 d, forward 16.3 d per ounce.

CHRISTCHURCH STOCK EXCHANGE. LATEST QUOTATIONS. {Special to ttia “ Herald "! CHRISTCHURCH, April 8. The following were the quotations current on 'Change after the afternoon call:—

Saes on 'Change.—New Zealand Govt. 41 p.c. Inscr., 1938, £93/10/-; Comm. Bank of Aust., 13/10; Goldsbrough Mort., 21/6 (2); New Zealand Refrig. (£1 paid) 11/4 (3), 11/3; New Zealand Refrig. (10/- paid). 4/4 (2); Staples Brewery, 23/-; British Tobacco, 25/6; Golden Dawn, 6/1, 6/- (4), 5/11J (2), 5/11; Golden Point, s»d (2), 5d (2). Sales Reported.—New Zealand Govt. 41 p.c. Inscr., 1938 (late sale 7th), £93/5/-; New Zealand Refrig (£1 paid), 11/6; Staples Brewery, 23/2; D.I.C. (pref.), 20/1. SYDNEY STOCK EXCHANGE. BARRIER STOCKS SLUMP. United Press Association—By Electric Telegraph- Copyright (Received April 8, 9.20 p.m.) SYDNEY. April 8. Conditions were fairly normal, through Barrier stocks slumped. Sales recorded:—Commonwealth Bonds (all four per cent.): 1938. £95/7/6; 1941, £93/10/-; 1944, £93; 1947, £9l; 1950, £9l/3/9; 1953, £9l; 1955, £9l; 1957, £9l/10/-; 1959, £9l/17/6; 1961, £9O/17/6; Union Bank £7/12/6, Bank of New South Wales £2B, Colonial Sugar £4O. Australian Oas A 110/6, Tooths 25/9, Tooheys 16/6, Tooheys Securities pref. 19/9, Henry Jones 29/3, Burns Philp 39/6, British Tobacco 29/-, Broken Hill Proprietary 16/6, North Brokens, 60/9, South Brokens, 40/9. Melbourne sales—British Tobacco 28/9, Dunlop Perdriau 10/9, Electrolyctic Zinc pref. 22/6, National Bank (£lO paid), £lO/18/-, North Broken Hill 61/3. South Broken Hill 41/3, Mt. Lyell 20/6. THE SHAREMARKET. By Telegraph—Preaa Association AUCKLAND, April 8. Sales on 'Change.—lnscribed Stock (1938), 4 h per cent., £93 ss; Inscribed Stock (1936), 5i per cent., £96 ss; Auckland Harbour Board (1941), 6 per cent., £IOO (2); Union Bank, £6 15s; Colonial Sugar, £36; Wilson Cement, 26/-. DUNEDIN, April 8. Sales reported.—Commercial Bank (late Thursday), 13/9; Union Bank, £6 12s 6d; D.I.C. (pref.), 20/-; New Zealand Refrigerating (cont.), 4/4; King Solomon, 1/5; Paddy’s Point, 3/9; 51 per cent. Bonds (September) (1937), £97 12s 6d; 51 per cent. Stock (September, 1937), £97 ss; Bank of New Zealand, 43/4 (2). •

Buyers Sellers d. £ s. d. N.Z. Govt. Debs— 4” p.c. Inscr., 1838 and Bonds. 1939. and 1941 . . . 93 10 0 — 4 h p.c. Inscr.. 1939 and Bonds, 1938 93 12 6 — 5i p.c. Inscr., 1933 — 98 0 0 55 p.c. Inscr., 1936 96 5 0 98 0 0 55 p.c. Bonds. 1936 96 5 0 — 55 p.c. Inscr. (Feb., 1937) 97 0 0 — 55 p.c. Bonds (Feb., 1937) 97 0 0 — 51 p.c. Bonds (Sep., 1937) 97 0 0 97 10 0 Other Debentures Christchurch City 1 41 p.c., Oct. 1932 101 .0 • — Banks— Australasia . . . 8 13 0 — Comm, of Aust . . 0 13 9 0 13 10 Comm. of Aust. (pref.) .... 6 3 6 6 7 6 E. S. and A. . . . 4 2 6 4 4 0 National of A/asia (£5 paid) . . . 4 10 0 4 15 0 National of N.Z. . 3 7 6 — New South Wales 24 5 0 24 15 0 New Zealand . . . 2 3 2 2 3 3 Union of Aust. . . 6 12 0 6 16 0 Insurance— National . . . • — 0 11 9 New Zealand . . . 1 14 9 1 16 1 Loan and Agency Goldsbrough Mort. 1 i 4 1 1 6 New Zealand and River Plate . . 1 1 0 1 1 6 N.Z. Guarantee Corporation . . 0 4 2 0 4 7 United Building Society .... 0 13 9 — Shipping— Huddart Parker . 1 0 0 — P. and O. Deferred Stock 1 0 0 1 3 0 Union (pref.) . . 0 19 10 1 1 0 Frozen Meat— N.Z. Refrigerating (£1 paid) . . . 0 11 2 0 11 3 N.Z. Refrigerating (10/- paid) . . 0 4 4 0 4 5 Coal— Westport — 1 0 0 Stockton (ord.) . . 0 0 4 0 0 11 Stockton (pref.) . 0 0 6 0 1 5 Gas— Auckland .... 1 0 0 1 2 0 Auckland (15/paid) 0 15 0 0 15 6 Christchurch . . . 1 4 3 1 4 10 Breweries— Carlton 1 4 6 1 7 4 New Zealand . . . 1 2 11 1 3 5 Staples 1 2 8 1 3 3 Tooheys 0 12 6 — Tooths 1 2 0 1 3 0 Miscellaneous— Australian Glass . 1 10 0 1 11 0 Beath and Co. . . 0 16 0 1 0 0 British Tobacco . . 1 5 5 1 5 8 Burns Philp . . . 1 10 0 — Colonial Sugar . . 35 7 6 37 0 0 D.I.C. (pref.) . . 0 19 9 1 0 0 Dunlop Perdriau Rubber .... 0 9 3 0 9 11 Glenmore Brick & Tile — 0 16 0 Gordon & Gotch 1 3 D — Henry Jones Co-op 1 3 0 — Howard Smith . . — 0 9 0 Mt. Lyell .... 0 18 0 0 18 5 N.Z. Drug Co. . . 2 3 0 2 7 6 N.Z. F a r m e r s’ Co-op. (6* p.c. Stock. 1940) . . 41 0 0 — N.Z. Farmers’ Co-op. (65 p.c. Stock, 1945) . . 40 0 0 — N.Z. Farmers’ Fertiliser . . . — 0 12 6 North Canterbury Co-op Flour . . 0 10 6 0 12 6 N.Z. Sugar of Milk (pref.) — 0 12 6 Victoria Nyanza Sugar 0 14 1 0 16 0 Wilson’s Cement . 1 4 0 Woolworths (N.Z.) pref. rights) . . 0 2 10 0 3 6 Mining— Alexander .... 0 15 6 — Alexander (contr.) 0 11 6 0 14 0 Golden Point . . . 0 0 1 0 0 25 Golden Dawn . . 0 5 6 0 5 85 Golden Point . . 0 0 45 0 0 6 King Solomon . . 0 1 35 0 1 5 Mahakipawa . . « 0 0 2 0 0 25 Ditto (pref.) . . . 0 0 2 0 0 4 Okarito 0 9 75 0 9 95 Waihi 0 16 9 0 17 0 Waihi Grand Junction .... 0 3 5 0 3 8 Blackwater . . . 0 5 '9 0 6 9 Consolidated Goldfields . . . 0 2 0 0 2 9