STOCK and PRODUCE

Wanganui Chronicle, Volume 74, Issue 244, 15 October 1931, Page 9

STOCK and PRODUCE

SHAREMARKET DOMINION EXCHANGES [ Per Press Association. 1 CHRISTCHURCH, Oct. 14. Sales on ’Change.—New Zealand Government 5| per cent. Inscribed Stock, 1937, £99 7s 6d; Commercial Bank of Australia, 13s 4d and 13s 7d; New Zealand Refrigerating (£1 paid) 10s; New Zealand Refrigerating (10s paid) 3s lOd; King Solomon, 2s 6d; Mahakipawa, 5-}d. Sales Reported.—Commercial Bank of Australia, I3s 9d; United Building Society (late sale 13th), 14s 9d; New Zealand Government 5£ per cent. Inscribed Stock, 1937, £99 7s 6d and £99 12s 6d. WELLINGTON, Oct. 14. Sales Reported.—Golden Dawn Mining (late sale Tuesday), 5s sd; New Zealand Government 5| per cent. St.t\k, 1937, £99; Bonds, 1937, £9B 17s 6d; Bank of New Zealand, £2 3s lOd; Union Bank of 'Australia, £6 14s and £6 15s; New Zealand Guarantee Corporation (ord.), 4s 11 jd (cum. div.); South British. Insurance, £2 Ils (cum. div.); Waihi Gold Mining, 17s (cum. div.); New Zealand Refrigerating Company (£1 paid) 9s lOd. AUCKLKAND, Oct. 14. Sales on ’Change.—War Bonds, 1938, 4| per cent.. £9B ss; Bonds, 1936, 5| per cent., £99 10s; Commercial Bank of Australasia, 13s 2d; Kempthorne Prosser’s (late sale Tuesday) 45s 3d; Robinson’s Ice Cream, 14s 6d: King Solomon, 2s 7d, 2s 8d and 2s Old; Waihi, 16s lid and 16s lOd; Mount Lyell, 17s 6d.

BUTTER MARKET STEADY SLIGHT FIRMING POSSIBLE. SOUND POSITION OF CHEESE. The opinion, that the London butter market will remain steady in the meantime, with the possibility of a slight firming tendency, is expressed by W. Weddel and Company, Limited, in a cablegram to A. H. Turnbull and Company, Limited. The latter company, in summarising all the information available, states that the general feeling is that there will be a steady market until the end of the year. Messrs. Turnbull and Company state that the market has undergone a very sharp and rapid advance, which has been brought about by the fact that when r,he gold standard was abandoned by Great Britain a considerable activity in all foodstuffs was evidenced. Buyers who had been adopting the policy of buying from hand to mouth immediately filled their requirements. This caused a definite rise of 11s over the month. The following table shows the estimated arrivals of New Zealand butter in the United Kingdom during October, November and December, compared with the actual arrivals during the same period in previous years: —

Although the figures show that there will bo considerably more butter arriving this year, Messrs. Turnbull state that it is hoped the market will be able to absorb the additional quantities without showing any signs of weakening. For cheese, the corresponding statistics are as follows: —

“In sympathy with, butter, cheese made an extremely strong advance, and the last quotations were from 10s to Ils higher than a month ago,” the report says. “What we have stated with regard to the movement of butter also applies to the cheese market. Messrs. Weddel and Company state that the market is steady and they are expecting the market to remain firm until the end of the year. “'There has been a fair amount of forward buying by London operators in butter, and September and early October shipments have been sold at from Is OJd to Is Oid per lb., f.o.b. In some cases October-November-December shipments have been sold at round about Is f.o.b. Buyers now are not quite so active, having mostly filled their requirements for the time being. In cheese there has been a little forward activity and some September-October makes have been sold at from 6|d to 6-Jd f.0.b., but the total quantity of cheese sold forward has been very small.”

1929. Tons. 1930. Tons. 1931. Tons. October . 1,565 3,715 3,445 November . 5,807 6,656 8,840 December . 6,215 9,057 12,500 - — — • - Totals . 13,587 18,428 24,785

1929. Tons. 1930. Tons. 1931. Tons. October . 1,643 1,429 3,043 November . . 3,388 4,352 3,672 December . . 5,465 11,181 8,550 . ■ — — —— Totals . 10,496 16,962 15,265