COMMERCIAL FINANCE AND MARKETS.

Star (Christchurch), Issue 18992, 11 February 1930, Page 11

COMMERCIAL FINANCE AND MARKETS.

BRADFORD TOPS ARE DULL; LITTLE BUSINESS.

(United Press Assn.—By Electric Telegraph.—Copyright.) (Received February 11, 11.40 a.m.) LONDON, February 10. At Bradford, the top market is dull. There is practically no business. Quotations are unchanged.

CITRUS FRUITGROWERS DEAL WITH N.Z. TRADE.

(United Press Assn.—By Electrio Telegraph—Copyright.) (Received February 11, 8.50 a.m.) MELBOURNE, February 11. The Inter-State Citrus Conference has just concluded at Mildura. The question of marketing of fruit in New Zealand was discussed. It was stated that the North Island was the natural market for New South Wales growers, whilst South Australian fruit went to the South Island. It was decided to regulate supplies in order to avoid unnecessary competition. The Federal Citrus Council yas authorised to control the export of fruit to New Zealand.

NO REASON FOR PANIC ABOUT CANADIAN WHEAT

(United Press Assn.—By Electric Telegraph.—Copyright.) (Received February 11, 9.40 a.m.) OTTAWA, February 10. The Minister of Finance, the Hon C. A. Dunning, to-day stated: “I see no reason for getting panicky about the wheat situation. < There is no more in storage now than at this time last year.”

DAIRY PRODUCTION.

Per Press Association. WELLINGTON, February 11. The Dairy Division of the Agricultural Department’s grading figures for six months ended January, 1930, show an increase for butter of 11.62 per cent on 62,324 tons and for cheese a decrease of 4.02 per cent on 50,592 tons, as compared with the corresponding period last season. Reduced to terms of butterfat equfvalent, the gradings of dairy produce for the six months show an -increase of 5.96 per cent over the corresponding period for the preceding season.

ASHBURTON SALE.

(Special to the “ Star.”) ASHBURTON, February 11. There was a small attendance at Ashburton yards to-day on account of farmers being busy with the harvest. The entry of fat stock, comprising 1100 ewes, 100 wethers, and 150 lambs, was the largest for twelve months. Prices opened on a par with last week’s sale, but showed a decline as the sale advanced. Cochrane Bros., Elgin, secured top price, 23s lOd, for ewes, and W. T, Stevens (Eiffelton) sold ten prime wethers which realised 32s 6d. Sales were: Fat ewes—Five at 23s lOd, 8 at 22s lOd, 9 at 22s lOd, 7 at 22s 3d, 22 at 23s 4d, 10 at 19s 7d, 13 at 22s 7d, 8 at 21s Id. Fat wethers—Seven at 32s 6d7 12 at 26s 10d, 12 at 26s 3d, 18 at 255, 5 a* 24s 4d, 10 at 23s lOd.

MEAT REPORT.

The New Zealand Meat Producers* Board has received the following cable from its London office, dated February 7, 1930, advising that the following are the approximate average prices realised for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market and or ex London stores:— New Zealand Sheep.>—Canterburs r and North Island, cross-bred -wethers, 4 8-56, not quoted: maiden ewes 57-64, not quoted; selected 65-72, not quoted; North Island, cross-bred wethers and maiden ewes 48-56, 72d; cross-bred wethers and maiden ewes 57-64, 75 d; cross-bred wethers and maiden ewes 65-72, 7&d. New Zealand Lambs.—lncluding Downs, selected North Island brands 36 and tinder Hid; 3 7-42, not quoted; 43-50, not quoted: second quality, average 31, not quoted. Other North Island brands: First quality, 36 and under, lid; 37-42, not quoted: second quality, average 31, not quoted. . „ . Australian Lamb.—Victorian first quality, 36 and under, 9|d; 37-42, 92d. Argentine Lamb.—First quality, 36 and under, 9d; 37-42, 9d. Argentine Chilled Beef.—Ox fores 55d; ox hinds 7&d. Australian Frozen Beef.—Ox crops, over 100, not quoted; ox hinds, over 160, 63d. New Zealand Prime Porkers Pigs.— 60-100, 102 d; 101-120, 10id. New Zealand Prime Baconer Pigs.— 121-180, 95d. Lamb Market. —Owing to the absence

of arrivals this week the market is very firm. Stocks are light. Mutton Market. —Stocks are very light both in wethers and ewes. The market is very firm at better prices. Beef.—There is a good inquiry for frozen beef. Stocks are small. New Zealand Porker Pigs.—There is a good demand but prices are slightly New’Zealand Baconer Pigs.—Nominal prices. Supplies are Bhort.

STOCK EXCHANGE.

CHRISTCHURCH. Following are to-day's quotations:—

Sales on ’Change—Aust. Bank of Commerce, 26s Id, 26s (2); Comm. Bank of Aust., 23s 8d (7); Comm. Bank of Aust., “ rights,” 2s 4d (2) : Ooldsbrough Mort. 33s 9d; Colonial Sugar, £44; Mount Lyell, 35s lid (3), 35s lOd (3); Quill, Morris, 14s. Sales reported—Comm. Bank of Aust., 23s lOd; N.Z. Farmers’ Co-op., 65 per cent Stock. 1945, £B7; N.Z. Breweries, S4s. Number of shares—3oo Aust. Bank of Commerce, 2100 Comm. Bank of Australia, 200 Comm. Bank of Australia ‘‘ rights," 100 Ooldsbrough Mort. 5 Colonial Sugar, 650 Mount Lyell, 590 N.Z. Farmers’ Co-op. 6J per cent Stock, 1945, 100, Quill, Morris, 25 N.Z. Breweries.

Buyers. Selle £ d d N.Z. GOVT. STOCK4£ p.c. Inscr., 1938 98 10 0 99 10 4J p.c. Inscr., 1939 99 10 . 0 5J p.c. Inscr., 1933 99 5 0 99 10 5i p.c. Bonds. 1933 99 5 0 OTHER DEBENTURESCh'ch City 51 p.c., 1955 101 0 0 Palmerston North 53 P-c., 1934 .. 100 0 0 102 0 BANKS— Aust. of Commerce 1 6 1 Australasia .... 11 7 6 Comm, of Aust. . 1 3 7 1 3 8 Comm. of Aust. (“ rights ”) 0 4 0 5 Comm, of Sydney 22 0 E. S. and A 15 6 17 6 National of Australasia (£10 pd) 15 7 0 15 10 0 National of Australasia (£5 pd) 7 12 6 7 15 0 New South 'Wales (cum div.) 41 5 0 41 12 6 New Zealand . . 1 7 2 IS 6 Union of Aust. 11 16 0 11 17 0 INSURANCE— Mercantile Mutual 1 4 0 New Zealand (cum 3 6 South British 2 18 6 Standard 2 19 6 LOAN AND AGENCY— Dalgety and Co. 12 7 0 12 11 0 Goldsbrough Mort 1 13 7 1 13 9 National Mortgage (cum div.) 3 16 0 New Zealand Guarantee Corporation 0 7 11 0 8 Permanent Investment 11 0 United Building Society 0 14 9 SHIPPING — Huddart - Parker l 17 0 P. and O. Deferred Stock 2 12 0 Union (pref.) 1 0 3 FROZEN MEAT— Canterbury (pref.) 4 0 0 Gear 1 19 6 N.Z. Refrigerating (£1 paid) 0 11 N.Z. Refrigerating (10s paid) .... 0 5 1 0 5 4 North Canterburj--Freezing .... 0 3 0 WOOLLENS— Kaiapoi (7s paid) 0 3 3 Kaiapoi (pref.) .. 0 13 9 COAL — Grey Valley .... 1 3 0 1 6 6 Westport-Stockton (pref.) 0 3 9 GAS— Christchurch .... 1 5 9 1 5 11 Christchurch (10s paid) 0 12 8 BREWERIES— Fosters 3 18 0 .Monteiths 0 19 6 New Zealand .... 4 3 0 4 4 0 Staples S 0 Timaru ........ 0 16 0 Timaru (5s paid) 0 6 0 7 11 Tooths 2 0 0 Ward 0 11 4 0 16 0 W hite Star .... 0 10 6 MISCELLANEOUSAmalgamated Wire less (cont.) .... 1 2 0 Australian Distillery 1 1 Reath ti*id Co. . . 1 9 6 1 11 11 Beath and Co. (Is paid) 0 6 6 0 7 5 British Tobacco . . 2 2 11 3 1 Broken Hill Propty 1 6 0 Colonial Sugar 44 0 0 44 10 Electrolytic Zinc (ord., cum div.) 1 11 Electrolytic Zinc (pref.. cum div.) 1 11 S Greater Crystal Palace 1 0 0 Henry Jones Co1 10 0 1 13 0 Herald and Weekly Times 5 1 0 Holden’s Motors 1 3 0 Howard Smith .. 0 19 0 1 1 0

Kauri Timber .. 0 16 0 Mount Lyell .... 11510 13511 N.Z. Drug Co. .. 3 12 6 3 13 9 N.Z. Farmers* Coop. (“ A " Pref.) 2 7 6 N.Z. Farmers’ Coop. (“B” Pref.) 2 15 0 N.Z Farmers' Coop. (6£ p.c. Stock, 1940) S6 0 0 N.Z. Sugar of Milk (pref.) . . 10 0 Quill, Morris 0 13 9 0 15 0 Victoria Nyanza Sugar (cum div) 2 10 Wilson’s Cement 1 18 .0 1 19 6 MINING Mahakipawa .. 003 004 Okarito 0 19 (prem.) Stoney Creek (6d paid) 0 0 8 0 0 9 Winding Creek (6d paid) ..... 0 0 6 0 0 10