FINANCE & COMMERCE

Waimate Daily Advertiser, Volume XXIII, 24 May 1922, Page 6

FINANCE & COMMERCE

B.A.W.R.A. SURPRISE. Per Press Association —Copyright. ' LONDON, May 22. Presiding at a meeting of the Melbourne City Properties Trust, Mr R. H. Caird said that all the gloomy forebodings of the people in charge of B.A.W.R.A. had been completely falsified. They were getting rid of the accumulation of wools on their hands far faster than they or anybody else expected. Those interested in the matter were wondering why no announcement was made of the distribution to shareholders now that ail priority certificates were paid off. FOREIGN EXCHANGE. LONDON, May 22. Foreign exchange rates on London are quoted as follows Paris 49.61 francs t* £l, Stockholm 17.23 kroner, Christiania 24.53 kroner, Copenhagen 20.85 kroner, Berlin 1405 marks, Calcutta 15fd to rupee, Yokohama 25fd to yen, Hongkong 32d to dollar, Montreal 4.49 dollars, New York 4.44 J. AMERICAN EMERGENCY TARIFF. WOOL SPINNERS PROTEST. NEW YORK, May 23. At Atlantic City the National Association of Worsted Wool Spinners adopted a resolution condemning the emergency tariff, and urging the speedy enactment of a permanent tariff. Delegates declared that business generally was good, but the wool market was inflated as a result of the uncertain tariff conditions. Desirable wools were being kept out and the cost of wools within the country was being artificially forced up. EXCHANGE SALES. AUCKLAND, May 23. Sales Reported.—New Zealand Insurance 28s 9dCHRISTCHURCH, May 23. Sales Reported.—National Bank of New Zealand (rights) 18s; National Insurance £3 Is 3d; Dalgety'(ex div.; £9 2s 6d. Sale on ’Change.—National of New Zealand (rights) 17s 6d (two). EMPIRE TRADE. DOMINION REPRESENTATIVES. VISIT TO BIRMINGHAM. > LONDON, May 22. Representatives of Australia, South Africa, Canada, and New Zealand, including Mr A. M. Myers, ex-Minister, are making a three-days’ tour of Birmingham and Nottingham, under- the auspices of the Empire Parliamentary Association. On arrival at Birmingham they were welcomed by the Chamber of Commerce and spent a day inspecting important factories, including Avery’s, Lucassa, Midland Waggon Company, and Birmingham Small Arms Factory. Later they were entertained at luncheon by the Chamber of Commerce, at which Mr Neville Chamberlain, M.P., presided.

, Toasting the Dominions, he said that Birmingham citizens of all political opinions would be glad when Imperial preference reaches the Statute Book. Britain’s and the Dominions’ needs were mutual and complementary.

CANTERBURY GRAIN MARKETS. Christchurch, May 23. A dullness continues to mark the grain and produce trade. Oats are very weak; any trade passing is restricted to B or f.a.q. A report was current to-day that inquiry had come from Australia, but there seems to be little bhind it. Quotations are 2s 5d to 2s 6d, for A and 2s 2d to 2s 3d for B.

Fowl wheat is moving to a fair extent, farmers showing less reluctance than formerly to accept the undergrade price. Fortunately later samples coming to hand are showing an increasing proportion of good quality. All classes of seeds are quieter, particularly cowgrass, growers offering very little at the price quoted by merchants —10d to Ud per lb. Farmers offers of potatoes have dropped off during the past week Growers are pitting in preference to aceptiag £3 per ton, but the market is kept over supplied with the May deliveries bought forward, and consignments this month will see about the end of both. Supplies going north have lightened. The Kaikkorai left on Saturday night and the Opihi and Kurow are due to leave to-morrow, but their cargoes are much reduced on those of the past few weeks. Onion s are firm for good conditioned sorts, and up to £6 5s is available. The local crop is well on the way to being absorbed.

The following are quotations for produce to be paid to farmers at country stations, free of commission, sacks extra, except where otherwise stated: —

Milling Wheat. —According to Government price (1922 season); Tuscan 5s 6d, Hunters 5s 9d, Pearl 6s 3d f.o.b. Fowl Wheat —4s 6d to 4s 9d.

Oats —A Gartons 2s 5d to 2s 6d, B’s 2s 2d to 2s 4d, Algerians 2s ts 2s 4d, Duns 2s 3d to 2s 6d. Chaff (new season’s)---£3 to £3 5s Barley—2s 6d to 3s. Cape Barley—2s 6d Perennial Ryegrass.—3s and 4s Italian Ryegrass--Up to 3s 6d. Cocksfoot—B|d to BJd. White Clover—ls 3d to Is sd. Potatoes—£2 17s 6d to £3.

Partridge Peas—7s 9d to 8s; White Ivories 7s to 7s 6d; Prussian Blue 5s 6d to 6s. Linseed—£l2. Cowgrass—lOd to lid. Cape Barley---2s fid. Onions—£6 ss.

Flour—According to Government price, £lB per ton, f.0.b., Lyttelton, Timaru and Oamaru.

Bran—According to Government price, £5 to £5 10s per ton, according to packing, f.o.b. southern ports. Pollard—According to Government price, £8 to £8 10s, according to packing, f.0.b., southern ports.