COMMERCIAL

Star (Christchurch), Issue 19241, 1 December 1930, Page 3

COMMERCIAL

WOOLBUYER S COMMENT. (Special to the “ Star.”) AUCKLAND, December 1. “They paid too much” was the frank comment of Mr Otto Somer, a German woolbuyer, who arrived by the Aorangi yesterday. He was speaking of the prices realised at the Auckland and Wanganui wool sales. “We don’t like these low prices any more than your growers do, but we lost money last year and nobody knows what will happen this year.” “Has the manufacture of synthetic wool anything to do with the matter?” he was asked. “Nothing at all,” he replied. “It is the world-wide slump. Nothing else.” Mr Somer left by car last night for the Napier sale on Wednesday.

HIGHER DUTY ON TOMATO PULP IS RE-IMPOSED.

The high duty on imported tomato pulp, which was lifted in July, has been re-imposed. The duty on imported pulp is normally 100 per cent, but following the failure of the crops in New Zealand last season owing to the heavy frosts in the spring, representations were made by manufacturers, and the duty was reduced to 20 per cent, with 1 per cent primage.

The lifting of the high duty was purely a temporary measure, and was never meant to be anything else. With the lower scale, certain restrictions were brought in, the principal being that manufacturers of tomato sauce and soup, the people chiefly affected, had to satisfy the Collector of Customs that they were importing only enough for their immediate requirements. Prospects for this season appear to be good, and all pulp needed will probably be produced locally.

ISSUE OF DOMINION TREASURY BILLS.

(Special to the “Star.”) WELLINGTON, December 1. On behalf of the acting-Minister of Finance, Sir Apirana Ngata, in referring to the issue of £600,000 of Treasury Bills in London, appearing in the cable news, points out that the issue of these bills has no relation whatever to the loan operations of -the Government. These bills were issued in anticipation of the revenue contingency that generally arises at this time of the year when the Consolidated Fund has not received the revenue from income tax. The bills mature on March 14 1931, and therefore will be paid off before the end of the financial year. The proceeds are to be used for general payments in London, such as interest I etc. The terms on which the bills were 1 sold, a discount of £2 3s 9d per cent, compare favourably with the issue of the Imperial treasury bills on the same dav at a rate of £2 2s lid per cent.

MEAT EXPORTERS CUT DOWN PRICES. Per Press Association. HASTINGS, December 1. This morning- the meat exporters of Hawke’s Bay announce a decline of the price on hooks at local works as follows:—Lamb, from 7*d to 6d a pound; first grade wethers, from 19s to 17s; first grade ewes, from 11s to 8s 6d. Produce Report. Per Press Association. DUNEDIN, December 3. Reilly and Co.’s report gives the following quotations:—Apples—Sturmers, showing waste, 7s to 10s a case; Delicious 8s to 12s Crabs 9s 6d. Pears —Coles 4d to 5d a pound, Nelis 5d to 6d. Potatoes, to 5d a pound; green peas, ssd to 6d; tomatoes, firsts 3s lOd, seconds Is 6d to Is 9d, thirds Is 2d to 3s 4d; gooseberries, choice 5Jd; cherries, Is 9d to 2s 4d: strawberries,~ls 7d .to 2s sd; porker bacon pigs, 83d; section honey, 12s; asparagus, 6s to 9s; lettuce, extra choice 3s to 4s, others Is; cauliflowers, choice 9s to 12s; cabbage, 2s 6d to 3s 6d; cucumbers, 14s to 16s; spring carrots (wanted), 4s 3d; white turnips. Is 9d; eggs, Is 2d to Is 3d dozen.

STOCK EXCHANGE.

Sales on ’Change—Commercial Bank of Australia, lGs 2d, 16s Id; Mount Lyell (cum diw), 10s 6d; Mahakipawa, SJd. Number of Shares. 200 Commercial Bank of Australia. 100 Mount Lyell (cum div.) 500 Mahakipawa Goldfields. Per Press Association. WELLINGTON, December 1. Sale—Lower Hutt, 6 per cent,-£lOl. AUCKLAND, December 1. The only transaction at either call was a sale of Mount Lyell at 19s 6d and another sale i-eported at the same price. AUCKLAND BUSINESS. (Special to the “Star.”) AUCKLAND, December 1. The Stock Exchange opened very quietly this morning. There were no sales at the morning call. and the bidding was very tame. Bank shares were again dull, and, of al those listed, there were offers for only three, namely Commercials at 16s, New Zealands at £2 12s, and National of New Zealand at £5 2s 6d. In the other sections the bidding was chiefly confined to a restatement of the week-end quotations. Auckland Gas were easier, with sellers at. £1 3s lOd. Australian Glass were offered at £1 Ss. For Breweries £2 2s was offered. At the noon call South British shares eased slightly, being offered at £2 16s 3d, with buyers at £2 14s 6d. Slightly lower prices were quoted for banking shares. Australian Bank of Commerce were offered at 19s 3d, and Commercial Bank at 16s 3d, while the best offer for shares in the E. S. and A. Bank was £4 37s 6d. National Bank were wanted at £5 2s 6d, with sellers at £5 11s. Bank of New Zealand were inquired for at £2 12s 6d, sellers asking £2 14s.

CHRISTCHURCH. Following are to-day’s quotations: Buy Selle i d. d. N.Z. GOVT. STOCK4£ p.c. Inscr, 1938 5£ p.c. Bonds, 193 7 96 0 0 51 p.c. Bonds, 1933 99 0 5£ p.c. Inscr, 1936 99 0 0 90 10 0 51 p.c. Bonds, 1936 99 OTHER DEBENTURESAuckland Harhour 5 p.c., 1935 10 0 Springs Ellesmere Power 5£ p.c., 1935 0 EANKS— Aust. of Comm. . 0 Australasia .... 9 0 Comm, of Aust. . 0 16 0 16 1 Comm. of Aust. (pref.) 6' 6 f> 12 0 Comm, of Sydney 0 0 E., S. and A 4 15 0 b 0 National of Australasia (£10 paid) 11 19 0 tralasia (£5 paid) 5 0 0 5 It 0 National- of N.Z. (cum div.) .... 5 0 0 10 0 New South Wales 3 0 0 29 10 0 New Zealand cum div.) 12 0 14 0 New Zealand (“D” Mortgage) 1 6 1 10 0 Union of Aust. .. D 0 9 11 6 INSURANCE— Standard 10 0 LOAN ANT? AGENC V— Dalgety and < "o. . 0 0 S 0 •0 Goldsbroigh Mort (cum div.) .... 1 0 1 1 1 € N.Z. Guarantee 0 7 1 0 7 3 Permanent Investment .... 10 0 United Building Society 0 15 0 0 15 SHIPPING— P. and *0. T>eferred Stk (cum div. > 6 0 FROZEN MEAT— Canterbury (pref.) 0 Id 0 N.Z. Refrigerating(£1 paid) .... 0 S 7 0 9 I'J'.Z. Refrigerating i10s paid) .... 0 2 0 3 0 North Canterbury Freezing . 0 1 WOOLLENS— Mosgiel 6 5 0 COAL— Grey Valley (cum div.) 1 0 0 1 0 Westport ...... 1 9 0 GAS— Auckland 1 3 0 1 3 Auckland (cont.) 0 17 0 Christchurch .... 1 4 9 1 5 1 Christchurch (10s paid) 0 12 6 Timaru 1 1 6 BREWERIES— Carlton 1 1 9 1 4 0

Fosters 3 0 0 New Zealand (cum div.) 2 2 6 2 3 0 Staples 1 IS 6 2 0 0 Tooheys 0 17 6 Tooths (ex div.) . 110 13 8 White Star .... 0126 MISCELLANEOUS— Allied Motors .... 0 0 2 0 0 9 Australian Glass (ex div.) 16 0 18 3 Beath and Co. .. 15 6 Beath and Co. (Is paid) 0 3 11 0 5 0 British Tobacco . Ill 1 111 5 Colonial Sugar . . 33 15 0 Dunlop - Perdriau Rubber 0 11 6 Electrolytic Zinc (pref.) 0 17 3 Greater Crystal Palace 13 0 Henry Jones Coop (ex div.) . . 113 Holden’s Motors . 0 8 9 0 9 6 Mount Lyell (cum div.) 0 19 6 0 19 8 N.Z. Drue Co. . . 3 10 N.Z. Farmers’ Coop. (1st pref.) 3 10 0 N.Z. Farmers’ Coop (“A” pref.) 2 11 6 N.Z. Farmers’ Coop. (62 p.c. Stk., 1940) 70 0 0 75 0 0 N.Z. Farmers’ Fertiliser .... 0 15 9 Quill Morris .... 0100 United Pictures . 0 10 0 12 0 Taranaki Oil .... 030 Wilson’s Cement . 2 10 Wunderlich 0 9 3 0 13 6 MINING — Cornish Point .. 0 0 1 0 0 3 Kawarau 0 0 2 0 1 0 King Solomon ... 0 0 3 0 0 S Mahakipawa .. 0 0 Si 0 0 9 Okarito 0 5 4 Waihi 0 13 9 Stoney Creek (72d paid) 0 0 2 Winding Creek (Is paid) 0 0 1 Winding Creek (9d parid) 0 0 02 0 0 1