COMMERCIAL

Press, Volume LVI, Issue 16988, 10 November 1920, Page 10

COMMERCIAL

FOREIGN .EXCHANGE RATES. (Bt Cable —Press Association—Copyright.) (Australian and N.Z. Cable Association.} L-ONDON. November 8. The foreign exchange rates on London afford the following comparison Par. Nov. 4. Nov. S. p,.;- /fr-) ~ .. 23.22% ?0.73 5".75 i CbrUtiania (kr.) -• 18,159 25.C0 25.53', Stockholm (kr.) . - 18.159. I,£> 17.9.J \ Calcutta (rpe.) (10 to go:d so\o 19; d 20? d Montreal (dol.) -■ 4.66 3.50 4.0 l Now York (dol.) .. 4.at; 8.482 3.313 ; Yokohama (yen) .. "24J 34J 34J i IMPORTS OF GERMAN GOODS. j 'Received November 9th, 7.50 p.m.) j v LONDON, November 8. j Sir K. S. Home, in the House oi j v.-.p; rn » to a question regarding Britain a ! imr,orts = of German manufactured goods for j the' fir-1 nine months of 1920, stated that they i amounted to £17,C00,000. For the sim::ar periods of 1919 they were £43,000, and 1913 | £11,000,000. PRICE OF GOLD. fßeoeived November 9th, 5.5 p.m.) LONDON, November 8. Tho official price of go?d is nominally £0 2a 4d per oz. BRADFORD "WOOL MARKET. (Received November 9th, 5.5 p.m.) LONDON. November 8. Tho Bradford wool market has a more confident tone, but actual business is email. SHARES. fßeceived November 9th, 5.5 p.m.) LONDON, November 8. P. and O. (def.), buyers'£46o, sellers £490. METALS. LONDON", November 8. Copper —Snot £90 7s 6d, forward £SJ> &>. Lead—Spot £35 les, forward £34 15s. SrXter —Spot £27 10s, forward £28 17e 6a. Tin—Spot £251 17s 6d, forward £256 15s. Silver —o3Jd per oz. PACIFIC CABLE BOARD. LONDON, November 8. The Pacific Cabh Board, after placing £853 000 to tcscxvo «and renewal fund, has a surplus of £10,433. During the year it carried 9 000,000 words of paying international traffic, and tho net receipts were £642,943, both records. TRINIDAD CUSTOMS TARIFF. PORT OF SPAIN (Trinidad), Novcmbsr 7. The Governijiont has announced a revision of tho Customs tariff under an arrangement with Canada. All foodstuffs, cattle, and feed produced in the British Dominions are duty free, and also British-made machinery and certain common goods and glassware. SYDNEY "WOOL SALES. (Received November 10th, 1.20 a.m.) SYDNEY, November 0. At tho wool sales, greasy merino reached the record prico of 4ld per lb. NOTES FROM WELLINGTON. (from a special correspondent.) "WELLINGTON, November 9. I While the further bop-owing proposals of ! the Government are not viewed with disfavI our, it is very evident that, for the nexJ threo years or moro, it will bo very cult to borrow in Loudon, consequents there must be local borrowing, and tho country is not in a position to find the huge 6ums. Towards the close of the war it was necessary to have the power of compulsion in respect to loans, and compulsion will, in all probability, have to be exercised in tho case of the six million loan- now. before tho pubHc. It was announced that tho Post Offico would have a motor lorry out in the streets to sell certificates, and a vehicle was_ out one day, but apparently very little busrnesa was done, for the performance has not been repeated. It is stated privately that tho commercial travellers declined to assist in the matter. The travellers and their principals have quite enough to think about with tho fall in prices and the excessive importation of merchandise. The Government, through tho Post Office, is to issue certificates in respect to the new loan, but whatever may be issued will be required for the redemption of maturing war certificates. Next year, too, the Post Office Saving© Bank will most likely experience a change, and it will have to meet .very heavy withdrawals, for there Is hound to be some unemployment. It must be a difficult matter for commercial men to know how to/ meet the situation. BUTTER AND CHEESE. fSFECIAIi TO "THE PKESS.") DUNEDIN, November 9. Mr Lamb', secretary of tho South Island Dairy Association, is officially advised that og the lonic, due at Welilimrton' on 21st irist., space will be reserved for 1500 boxes of butter and 1400 crates of cheese to be shipped at Port Chalmers, and 60C0 boxes of butter and 850 crates of cheese to go on board at Lyttelton; also that t'he Port Napier will take 1500 crates of cheese from Bluff. judging by the reports to hand from Otago and Southland generally, and particularly the southern districts, this is going to bo a great season for cheese —possibly a record will be established. IMPORTATIONS OF BOOTS. In August last, 12,395 dozen pairs of boots, shoes, and slippers, valued at £110,141, were imported into New Zealand, against 6446 dozen pairs, valued at £16,936, in August

1 1919. For the first eight-. month 3 of teis | year, 102.553 dozen pairs, valued at- £793,751, j were imported, tho importations for the cor- j responding period iu 1919 being 54,515 dozen paivs. valued at £235,7C5. The :;cpcnal:oi» of leather for tho period January to August (ir.ciu&ive) of thii> year, were 1.537,229-b, as against JGt.STSIb in" the corresponding period of last year. Tin presence oi thes? abnormally largo srtocks, by all accounts, is proving embarrassing to traders. CROCKERY PRICES. I Some irquiriea were mado by an "Otago i Daily Times" reporter this week "respect; r.g 1 the prico of crockery, glaw.vare, hardware, and goods of n similar kind. "Wh?u tho i mc:ter wns> mentioned t>> tho depart mental | manager of one of the 'arge city v.'.':rehourc~, ] which indents largo quantities of thot=o goods, ! he at once stated that recent advices by i cablegram, so far from indicating a reduction I in prices, appeared to print to further ndj var.oes. A number of these were ! shown to the reporter, and in many instances | they advised an increa&> in prico. while in I other cnse> a reduction of the trade discount | was notified. No doubt the a'vp'-.oes :n p"o I of glass, crockery, and earthenware are due ! to the increneod cost of coul ar.d labour, two factors which must represent ' per cent, of the cost of their manufacture, but, whatever tho cause, tho price of the finished article is becoming firmer every day. HIDES. (special to "the press.") AUCKLAND, November 9. The hido market remains much the .=nmo as last wook, dufi with nrpctically no luddin?, consequently nearly all tho lines were passed in. Those that did exchange hands averaged out on a parity with last week's rate. AUCKLAND STOCK EXCHANGE. (SFECIAL TO "THE TO ESS.") AUCKLAND, November 9. Quotations —National Bank, sellers £6 7s 6d; Bank of New Zealand, sellers £25 Pe 6d; Union Banlt of Australia, sellers £12 1&3, -buyers £12 63 6d; National Insurance, seLers £3 lis; Now Zealand Insurance, buyers £1j 7s; South British, sellers £3 15s; Standard' | Insurance, sellers £2 17s; Now Zealand and j Rive- Plato, fellers £1 Is; Loon and Mercan- , tile (pref.), sellers £70; P. and O. (deferred), sellers £460, buyers £440; Kaiapoi Woollen (ojd.), sellers £1 15»; Talisman Consolidated, ( 6ellcrs Gs; "Waihi, sellers £1 13 s 3d, buyers j £1 10s 3d; "Waihi Grand Junction, sellers t 9a, buyers Ss; Mount Lyell, eellers £1 0s) 3d; Now Zealand "War Loan, at 4J per cent., sellers £93 15s: New Zealand War Loan, 1935, at 4i per cent, aeHera £92. ■WELLINGTON STOCK EXCHANGE, (SI'ECIAL TO "THE PRESS.") "WELLINGTON. November 9. Quotations —"War Bonds, IMS, stllera £92 j ss; National Bank, sellers £G 7s; Bank of i New, Zealand, buyers £21 15s, pollers £25 ss; j Union Bank, buyers £12 11° Gd, sellers £13; , New Zealand and River Plato, sellers 205 6d; "Wellington Trust and Loan, buvers £<i i Bs', Bellcm £6 7s Gel; Wellington Deposit, : buyers 83 9d; Wellington Gas (£lO pcid), . buyers £9 15s, sellers £10 Is: Wellington, ; Gas (preference), buyers IRs: National In- • eurance, sellers 60s: Now Zealand Insurance, buvers 275; Now Zealand Refrigerating (201 | paid), buyers 425; New Zealand Ref rice rat- ; in>r paid), buyers 21s 4d, sellers 22s 3d; Jfcvit Exnort (72' 6d paid), eellers POs; Hud-diart-Parker (ordinary), eolleri? 50s; HuddartParker (pTcfcTcnce), sellers 20s; Union St en mi buyers 21« 3d, sellers 21? Gd; "P. and O. (def. stock, cum div, and rights), , buycra £140; Kaiapoi Woollen (ordinary), buyers 30a; Moscriel. Follere £6 10s: We-st-port Coal, buyers 30s 2d, sellers 30s 9d; . Waioa Collierv, sellers 15s; Teyland O'Brien, | buyerfl 85"» (Wl, scllere 37s Gel: Eclipse Pet--1 toI", Eellers 20s; ;New Zealand Dmg, Fcllersl | CG-i: Wnirararia Farmers' (£5 paid), sellers ! ee, Cs 6d: Ward and Co., sellers 2"e Od; Wilson's Cement, buvem 16s: Talis.man, sellers €s Gd; Grand Junction, eellers Bs. "THISTIvE" OATMEAL PRODUCTS. Fleming and Co.. Ltd., the well-known manufacturers of "Thistle" oatmeal, Cr~flraoata, a.nd other specialities, tial reductions In all their "Thistle" oatmeal is now quoted at £3> per ton of CnnrVb for 25's to 100'= an-I .<*"4 22101b for sevens. The various sizes of Creamoata. are now 203, 13s. and 108s per dozen; "Thisfe" rolled' oats S7s and 18s p« dozen; "Tln's'le" Semolira. 6s per dozen, and other specialities have been reduced in proportion. Tho terms provide for a discount of 2| per cent, if payment be made on or before tho 10th of the following month. Tha firm has recently completed its large mills L a/t GoTe, enabling it to reduce prices. It is , claimed that the mills «ro the most efficient and labour-saving in the southern hemisphere. Every mechanical device aiming at Tapid nnd economical production has been installed. The firm al--o. notifies that the substantial fall in the pn'ee of oats does not L meorssarilv mean that Oreamo-at-a. otc., can be reduced to tho same prop or' »n, as containerMstill rule high and frei**». have increaeedT The firm is basing its new price on tho prospective minimum valuo of 1921 crop, and > merchants and retailers, it announces, will be fully justified in carrying good stocks. ® » - EGG MARKET. ! > The weekly ealo of guaranteed fresh egge, ' on behalf of tho Canterbury Egg Farmers ' Co-operative Association, was held m the rooms of Mess-,Ts Harris Bro=., 158 Hereford street, yesterday afternoon. Again there were record quantities of eggs offered. Ail lots , were sold at the following prices:—Hen eggs ' first grade from la ild to 2s, second grade ► Is 9d; duck eggs, Is Od; Utility Poultry i Club, Is 3d. 6

HOUSE OF CAS SELL. CHANGE IN OTTNERSHIP. (FROM OUR OWN CORRESPONDENT.) LONDON, Septembor 23The hoiaw of Caasoll, which waa founded in IS-IS, and to which belongs tie credit of having brought so many famous writers to light, Is about to ohango hands. An offer has been received from Messrs E. and J. Getter Berrj, owners of a group of ini portent publications, for the purchase by them of tho th irds <he company at £1 6d. The approximate market prico of tho £1 shares ruling during tho last few weeks ha-s been 15s. Tha directors of CnsseH's I recommend tho acceptance of tho oiler, and lmvo a-groed to eell their own holdings at ♦he stated prico. The reason fur tho sale is given in a ctecvlur to shareholders, which states: —"Tho i directors are of opinion that tho proposed ( arrangement is advantageous for tho followI in*,"- reasons, apart from tln> favourable terms offered by the purchasers. If such an nrrnrgonient ns :'a now set. forth had not been entered into by the directors, pome proitisals must have been placed beforo tho eliareboldora for promoting further capital for tho company. It is common knowledge that, on account o® tho enormous increaso in tho co«t of materials t and tabour. <il! industrial companies to-day require at least ! 50 per cent, more working- capital to enable i them to carry on their business. Ulie direc- | tors felt that, having regard to tho pre- > 6cnt market prico of tho share*, it would not have been possible to raiso funds by tho i issuo of further capital at par, and the law j does not allow the issue of shares at a dis- ; count. It might, therefore, have been r.cces- | 6P.ry to increase tho company's liabilitity on [ debentures on terms which, no doubt, would ; live lx?cn onerous, having regard to tho I present state of tho money market." STOCK EXCHANGES. I AUCKLAND, N member 9. ■ Sales on "Chang*":—National Bank, £3 5s 6d; Now.Zealand Insurance, 27s 3d; Northern Steam, 17s Id. i ' DUNKDIN. November n. ' Sales on 'Change:—Waihi Gold, SOa; Westport Coal, SOs Gd. ' Sales reported—Westport Coal, 30s 6d; Kaaapoi AVoollen, 31e 6d. I . I. jTHE MIDWEST UTILITOR , AT THE SHOW. V - f • • Tho Midwest Utilitor is a small garden tractor that will do the work of one strong horse about' trie farm. It will pull a plough, diso harrow, tine harrow, cultivator, field mower, lawnmower, and will do belt work up to 4 k.p. A horse can only work ay mi ted number of hours, the Midwest Utilitor Tractor can work the clock round. After the day's work in tho paddocks is over, it is ready and waiting to run the circular saw, cream separator, churn, jjump, or house-lighting plant. Although this handy little tractor has only been in New Zealand a few weeks, it is already extensively used by North Island farmers. There is not the slightest doubt that it will meet with marked success in the South. Men who want a light-weight, light-priced tractor should not fail to see it at tho show. The Tourist Motor Co., Ltd., of Hasti ings and Napier, aro the N.Z. distributors of the Midwest Utilitors and Implements. t ®

BRIDAL PORTRAITURE, | \s interpreted by Claude Ring, will i satisfy even the most critical. bee • snecimens in vestibule in Stewart Dawson's Buildings. 'Phone 3053. 12