COMMERCIAL.

Press, Volume LX, Issue 18222, 5 November 1924, Page 10

COMMERCIAL.

BRITISH TRADE. JO STIMULATE EXPORTS. NEW GOVERNMENT'S PLANS. (BT CA.BUS— PMSS ASSOCIATIOK—COPTBIGHT) (iTTSTBAUAS AXD JT.Z. CAELB AB3OCIATIOH.) t (Received November 4th, 0.0 p.m.' LONDON, November 3. The diplomatic correspondent of the "Daily Telegraph" says the new Government hopes to stimulate esjKjrt trade by limiting trade loans and credits to the Dominions and to those foreign countries -which are willing to use theni to buy British goods, or to lower their own tariffs in favour of British goods. It throws out a suggestion concerning Allies' debts to Britain: that countries which claim they cannot fund their debts to Britain without depreciating their national currencies by tho export of gold, might give Britain a temporary equivalent to the interest on the war debts in the shape of a rebate of their tariffs on British goods. CANTERBURY MARKETS.

(BY OtTB COHMZXCIAL EDITOB.) Tuesday Evening. Very little business has been done since the week-end, the approach of Carnival AVeeJc having no doubt a good deal to do with the matter. A little more forward business has recently been done in potatoes, which have been sold for April-May-June de- ( livery on the basis of £5 10s f.0.b., which is equivalent to about £4 os on trucks to farmers at country stations. Tt is stated that last week's floods have caused considerable damage to areas sown in potatoes, in consequence of which it will be necessary to resow, but as to the extent of the area affected, no definite information is at present available. It "was expected that the Wingatui would take about 1000 tons of potatoes this week for Auckland. , , ~ i B Gartens for forward dehverv have been sold at 3s 9d to 3s 10d f.0.b., and A's at 4s, which is equal to 3s and 3s 2d respectively to farmers. Cocksfoot is still firm at Is ljd for standard seed. ,_ Fowl wheat is quoted at ts 4d to <s 6d f.o.b. The following are the quotations to he paid to farmers at country stations* free of commission, sacks extra, except •where otherwise stated:— Fowl Wlieat (nominal) —6s 6d. Chaff—£7 15s. Oats^—B Gartons 5s 6d. White Clover—ls 4d to Is 6dCowgrass—9d to lOd. Partridge Peas—6s to 6s sd. • Italian Ryegrass—ss 9d to 6s. Perennial"Ryegrass—5s 9d to 6s. Cocksfoot—To lOd. Linseed—£l7 15s. Barley—ss. Potatoes—£s for Whites, to £4 os for Dakotas. Flour—£ls 10s a ton. Pollard—£6 10s f.o.b. mam ports; 10s extra for smaller packing, . ports; 10s. extra for smaller packing. RANGIORA MARKET; The JBaagiojra market yesterday was regarded as a doable one, in view of Carnival ' Week, but the ,-ntri of live stock was only about on a par with that of an ordinary ■ale. The yarding consisted of 741 sheep and lambs, 50 head of cattle, and 186 pigs. A fairly satisfactory amount of business was done at ruling prices. Out of 115 fat sheep, the principal lota sold were: —17 ewes at 3*6 lOd, 4 at 29s 7d, 11 at 27s Id, 5 at 3Ss 3d, 9 at 328 4d, 9 at 26s 3d. 17 at 33s lid; 7 wethers at 425, 17 at 38b 7d, 10 at 36s Id, small lots to 47s 6d, and 5 wether hoggets at 55s 6d. In tho store pans, 48 aged ewes and 53 lambs gold at 220 all counted, 54 ewes and 65 lambs at 23s 6d, 57 ewes and 53 lambs at 20s 2d 46 ewe» and 47 lamb? at 20s, 64 ewes and 64 lambs at 235, 68 mixed sex hoggets at 26s id, 75 wethers at 30s 4d, 34 two-tooth wethers at 26s"id, and 9 at 28s 2d. Cattle—Beßt springers made £6 15a to £lO 15s, inferior springers £1 to £3 10s, springing heifers, £3 10s to £5 10s; etore cows, £1 to £1 ISs; yearling' heifers al £1 to £2; . bulls, SA 5s to £9 15«. Pjgs—Baconers sold at £3 18s 63 to £4 . 12a, porkers £2 15s to £3 la, large stores 46s to 535, small 38s to 455, and weanera 283 to 82s. ■ ■ Poultry—Roosters sold at 10s Id a couple, bens 5s 6d, ducks 7s, geese ss. Pioduce-XJhickwheat made 24s to 26s a bag, pea* 20s,'barley 23a, meal ISs, oataheaf chaff 6s to Bs,. straw chaff 3a to 8s 6d, table potatoes 6s to 12s 6d, seed. potatoes' 4s to Ba, rhubarb 4d per bundle. Sheepskins—Halfbred 16s to 28s, crossbred 12s to 22s lamb skins 3s, shorn pelts 2s to Bs, calfskins 3s to 4s 3d, hides 3d lb, wool 17d lb, fat 2id lb. ASHBURTON MARKET. A double market attracted a large gathering at the Tinwald yards yesterday, but there was only a comparatively small entry of sheep, including 108 fat ewes,. .78 fat wethers, 41 fat hqggets, 13 spring lambs, and 800 stores. 'The entry of cattle totalled 76 'head. Bidding for the fat sheep was spirited and there was an all-round rise in prices of fully 2b 6d a head. Prime ewes made 60s 4d to 60s 6d, second quality 44a 3d to 475, and light and unfinished sorts 25a to 335. Wethers (shorn) made 31s 7d to 365. A pes of 7 in the wool*, sold on account of Messrs Small Bros., brought 62s 6d. The principal- sales were:— Ewes—4 at ISs, 6 at 28s, 2 at 335, 2 at 32s 3d, 8 at 50s 4d, 6 at 41s 6d, 3 at 56s 6d, 8 at 44s 3d, 5 at 28s 6d, 3 at 45s 3d, 7 at 43s 4 at 475, 5 at 4Hs 9d, 6at 87s 9d, 8 (shorn) at 29s Id, 10 at 48s 9d, 5 at 48s 3d, 3 at 605.6 d. Wethers—So (shorn) at 365, 10 (shorn) at 81s 7d, 10 (shorn) at 31s, 12 (shorn) at .'3os Sd, 7 (in the wool) at 62s 6d. Lambs and hoggets—l lamb at 30s, 3at 39s 3d, 5 at -345, 33 hoggets at 365, 5 at 49s 6d, 1 at 535. Stores —The sales made were: 41 sound anS failing-mouth crossbred ewes and 44 lambs (all counted in each case) aiT'Zo's 4d, 95 crossbred wether hoggets at 58s 9d, 42 failing-mouth three-quarterbred ewes and 42 lambs at 17s 4d, 112 failing-mouth *ha!??>red ewes and 112 lambs at 21s, 54 failing-mouth halfbred ewes and 53 lambs at 21s. Cattle —Included in the 76 head of cattle yarded, there were a few nice quality handyweight fata- and very encouraging prices •were realised. A steer brought £16," and -two others £ll 7s 6d a head. Cows realised from £3 to JEl4,' heifer* £S 10s to £7, runuers £2 Ss to £2 17s 6d, springing cows £3 JOs, and cow* in profit £4 to £5 10s. COMMONWEALTH LOAN. MOSTLY SMALL SUBSCRIBERS. (BT CA3I»—PUSS ASSOOATIOH—COPXBIOHT) (AUOTBAIAAK AKD V.Z. GABLS ASSOCIATIOH.) SYDjNEff. November 4. Mr Collins, secretary of the Commonwealth Treasury, in » speech to members of the Sydney Stock Exchange, announced that the new Commonwealth local loan of £10,300,000 which closed yesterday, had been neatly subscribed in full. A striking feature of the present loan, Mr Collins said, was the fact that the money was coming from people rather than institutions. The average subscription was about £4OO, and only 22 sub•criptions of over £22,000 were received. This yftm a fair indication of the " financial strength and prosperity of Australia. "'/ < Onrj a few hundred thousand pounds re- < ,7i|itiUL to be filled, and if necessary the will take the unsubscribed portion. lit' 7

HIGH COMMISSIONER'S REPORT. Th« Department of Agriculture has received the following cablegram, dated Ist instant, from the High Commissioner for New Zealand, London : BUTTER. M-arket quiet on decrsasin;? demand. Larce supplies cosing fons-ard. GfHcial quotations are: New Zeiiand. Salted. Fintst. "\oTe:awr 15t—2223, 22-ie, up to 2Ks pet cwt 'la x:jd to 2« Ojd per lb).October 25tb—224s to 228= r-« cwt (2* t* 2s Ojd per ib). October ISth—224s to 225= ?er cwt i.Js *o 2s o?,d per lb:. ■ Other Qualities. . November Ist—2Cfle to 2los per c*- - s Did to Is lOjd per lb} _ Australian. Salted, -v mest. Norcmber Ist e : >4s. tip to vies r-=" cwt (lb 9id to Is IC'Jd per lb*. . October S3lh—7<¥s to 21€s r« : - :s to Is lid per lb;. t . .... October l>th—2l« :o 21C3 ; ?r c-v.- >-= -- J per :b... . . November Is-.—21 to «<. : -s ? 5 - cw - "'" IC'id to Is lld i-er :b\ ~ October Scib-21E£ .;p -MS* ?-" i€ Hid to is Ojd per -b'. ~.,. October IS:h—'324s to 2-'-S 7-r cwt v-= to 2s Ojd per lb - '. Other Quactus. NovamVr 13—Salted: :"* *° ';%.%: cwt (is ed « is sjd pcr_ A:. , -~; 19Cs to 20Us ->er cwt (13 tic to l? y«Q ✓ - lb). Canadian. Crecrsery. November Ist—l3os to IScs per ctv . -is 3}d to Is SJd per lb). , October 25th—2C0s to 206s p" cvrt <ls " id to la lOJd t»er !b). , ~ October ISth—iOi? to -'2o?s par c*. a9Jd to la l'"id psr ib). UnMitea. November Ist—2oC3 to 201s per cwt Js 9Jd to 1b Ojd r.er lb'.. ,- , October .2-Hh— to 2ies.per cwt (Is to Is lid per ib). October 18tb-—2if-s to_. 21?5 per cwt '-= 10*, d to Is lljd per ib). _ j " Argentine. TJusaltael. I Norember Ist—SflGs to CGSs per cwt Us i 9d to Is 10Jd ner lb;. '''""/•.. October 25th—2CS3- to 21es per cw. Us 10; d to Is Hid ner .'b>. October ISth—2l2s to 2C03 per cwt i.-S 10Jd to Is Hid per lb). Other Qualities. November 3ft—'lSCs to :9Cs per- cwt (Is TJd to "Is SJd tier sb.'- ■ Danish.. • November Ist—23-33 to 2Ses per cwt i.-s lid to '2s 1M -er ib': . , s , October 25t":i—242s tu 2443 per cwt V-3 to 2s 2d per' lb). ... October 18th—24S 5 to. 252s per cwt (-3 -35 to 2s 3d per lb). CHEESE. Market firmer. Canadian steady Yer? small supplies of spot New Zealand. Official qtiot&tions are:— , English. Finest Farmers . - November " Ist—ll4s* to 118s- per cwt- (13 Old to 13 Ojjd per lb). - . , 1o October 35th-l!"U to 118 a per cwt (Is Old to la Ojd per lb). , October 18th-114s to 118s per cwt v 3s '^d to Is Ojd t>er 'lb). Canadian. IsV-CoWsd and white: Ots to 93s per cwt (IQid to lOJd per la). .- October 25th: Coimired, 94s to 3fcs Per. cwt ftod to 10Jd per lb). White: 95s to 963 per cwt (lOd to 1 Ojd per lb). October 18th—Coloured and white: 9M to 96s per cwt (lOd to 10id per lo). New Zealand. November Ist—Coloured and white: 9Gc per cwt (101 d). Exceptional;. 93s per cwt (lOJd per lb). ' . - October 25th—Coloured: 94s to &>s per cwt (lOd ner -b). White: 94s to 96s per cwt (lOd to 10id per llj >- _. October 18th—Coloured: 92s to 94s per cwt (9ld to lOd per lb). White: 93s to 95* per cwt (lOd per lb). A shipment of New Zealand produce arrived this week per s.a. TeSoa. HEMP. Manila, maiket q-niet end easiier. "J" grade November-January shipments quoted at .€55 lGs r>er ton sellers. New Zealand market quiet. Small business has been done in Highpoints at £44 10s. O c tob c rDeeember ahipments now crooted at, Highpoints, £44; fair, £42 and value. WOOL. Tone of Bradford market further improved, aad-Bii»Il new business has been done. Prices for tops are:— &i'a (Merino), 6s 4d; 56*8 (super halfbred), 4s 2d; Wa (coarse crossbred), 25,4 d. TALLOW Market quieter and little demand at auction. Present quotations arp. —Mutton: Hne, 52s to 52b 6d per cwt; fair to good, 49a to ■sls 6d; dark to dull, 46s 6d to 47s 6d. Beef: Sweet and-or mixed, 51s 6d to 535; fair to good, 48s 6d to 51s; dark to dull 45s to 475. Mixed: Fair to good, 48s to 50s 9d; dark to dull, 45s 6d to 475. Gut, etc: 41s to 46a 6d. ■ FRUIT. Nova Scotiari: Gravenstein apples,' 10b to 24s per barrel; Eihatone Pippin and Blenheim, 15e to 30s per barrel; Cox's Orange, 35s to 70s per barrel. Californian: Jonathan, 14s to 17* per box; Newtown Pippin, 12s to . 16s per box. British Columbian: Cox's Orange, 15s to 20a per box. PEAS. Blue: Tasmanian "A" gride, on passage, sold at £2l c.i.f.; ex store quaied v.p to • £22 per ton. Jepane'se market *--!&••» !.«•• tween £25 and £26 c.i.f. New Zea'anS No. 1: Partridge on passage offered for re-sale at 74s to 76a 6d per 5041b; ex store, 70s to 78s: November-December shipment, ,72s Gd c.i.f. nominal value.' Tasmanian Maple "A'' sold on passage, 76b 6ei; November-Decem-ber . shipments, 78a c.i.f. ■■ Very- little spot trade, and quotations 82s to .87s &3. BEAKS.. English best winter makes, 52s to 59s pet 5321b; spring, up to 645; small busi'iesa. Chinese Horse offered at £ll per ton ex ship. ' Saies'have been made afloat to Glasgow at' £lO 7b vd, and Liverpool £lO ■ 17s t'd per ton. c.i.f. DANISH COCKSFOOT. Present quotations. are 80s to IGCe per cwt. NATIONAL INSURANCE CO. .(fuss association tblkobak.) DUNEDIN; November 4. The. directors of the Insurance Company ha-ve declared a dividend, of 2s per share, which with the interim dividend of Is 3d paid in May, makes 8s 3d for the year. ''.'•' , WHEAT. (Received November 4th, 9.50 p.m.) ( . CHICAGO, November 3. Wheat—December delivery 1.87J5 dollars a bushel; May delivery, 1.45J dollars; Julv delivery, 1.31J doHn-re. . DAIRY PRODUCE. Dalgely and Company, Limited, have received the_ following cable-gram from their London office, dated November 3rd: •'Butter: Since our advice of October 36th, prices aro lower by 4s. Y»rj little business is doing and a further fall seems.imminent." EGG AUCTION. Messrs. Harris Bros., Ltd., report that the usual -weekly anction sale of Brand guaranteed fresh egga on behalf of the .Canterbury Egg Farmers' Co-operativo Association was held in their rooms, 158 Hereford Btreet, yesterday afternoon. The following prices were realised:—Hen eggß, Ist grado (2ozs or over), Is 4d; hen eggs, 2nd grade (under 2ozs), is 3d. —6 ■ ' ' ' gg^>

CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. Saies on 'Change:—Union Bask (rights), LATEST QUOTATIONS.

OTHER EXCHANGES. (PHESS ASSOCIATION TEUEGKAHS.} AUCKLAND, .November 4; Sales —Breweries Debentures,.2ls 6d, Bank of Australasia, £l3 ss; Union Bank (rights), 47a; Northern Steam (contrib), 8s 4d; Moanatairi, 2s 3d. "WELLINGTON. November 4. Sales Reported—Wilson's" Cement, £1 12s; UniorT Back of. Australasia, righte, £2 "is, £2 7s 9d; Huddart-Parker (ordinary), £2 3s 3d; Howard, Smith, £1 14s 6d. ■ DUNEDIN, November 4. Sales—Dominion Robber, 213 9d; Kawarau Gold ' Mining Co., -20 a; Waihi, 2Gb 9d; South British Insurance, 42a 6d Sales Keported—Union Bank Fractions, 12s, 10s 6d, lis 6d, 10s, lis 3d, lis; Kawarau Gold Mining Co., 20a. SHARLAND AND CO.. LTD. ANNUAL MEETING. At the annual meeting of shareholders or Sharknd and. Co,, Ltd., held at Wellington, Mr W. Watson, chairman of directors, presided. In moving the adoption.. of the report ■ and balance-sheet the chairman said the directors regretted that, in common with many wholesale establishments in the Dominion, tho past year's working of the company had not proved so profitable as in some former years. Thoy attributed this mainly to the collapse of the unwarranted high prices, of farming lands, -which had impoverished .many, and the high taxation which had ruled since the war. Fortunately, the. former cause must right itself in due time, and the Legislature in reducing the taxation "hf» Baason had shown that they recognised the reduction as necessary to the rehabilitation of trade. In this connexion, he would o-".rjt out that on this occasion they had not to set aside so much for income-tax, and consequently, although their earnings had not been so much as formerly, the directors felt justified in their recommendation of the 7 per * cent, dividend. Shareholders wo\ild observe from the profit a-nd losa account tnat 83 the. yeara. went on the directors were careful to adjust the expenses to the fall '..in gross profit*, while they maintained the nsual depreciation of assets. They sold £4500 of their 41 per cent. Government War loan to pay. off indebtedness bearing higher rates \>f interest, and increased their mortgages for the same purpose. The remaining £7OOO in War Loan had been written down to below market value, and the values of all the stocks had been carefully computed as ■m-e'iously- In conclusion, the chairman said that the indications so far in the current year pointed,, to better trade. • In acknowledging a vote of thanks, the chairman said that it had* not been for want of work that'the shareholders had not such a good return as usual. Taking wholesale houses in general, the company had come out above ! the' average. He : knew of Some companies which had made losses instead oi .profits. They could on'.y hope that with the good year noW promised in connexion with' the country's exports, and with the reduction of taxation, the company would be able to show a better .result next year.

ESi lye; fafcuei: 9. • -n--n a. d. - s : d. X.Z. GOVT. rEBIiNTl E ■i'z ;w: can'. Inscribed, .. •■ 97 6 ■ 4j par c?r,:. irscrioed, o- "- 6 97 13 0 4i cent. Boc<i s i 19Sv y7 10 0 — 4'- --?r cerr.. Bends. ly?-s 97 7 6 — 4' ~?t cont. lioscs, 1S41 .. - : - 97 7 9S 10 o J per cer::. Bccc.-. "&'-• ,...., Cl , n f_ Inscrrcea. ia,;j 10" 2 G 101 7 G OTH2E DiBEXTCKr.S-Chris-.cb-tirch TrcrcwM-.?. 5; per cent. — 35 10 0 L~.'elion Harbcur, J .. 0 ,-, Otj ; ;c Harbour, 3 p?r cent. — 93 0 0 ~S.'l. Breweries. Boj:q:, : 1 0 1 1 o X.Z. Bic-erics. Stock — 1 1 6 Adelaide ifjffl riiv.l . ■ — S 11 0 Auslraissis 13 ."> 6 13 4 0 /Cationa! of IC.Z. — 6 13 6 Union cf Aust. '"-a rirhr^) 13 19 0 14 2 6 Vr.ioii or Aust. ;ri?ht5', 2 ii 9 ■2 " .7. 0 "L'r.ion . of Aust. 'fractions'! 0 11 0 ■ 0 11 G LOAN A2\:"> AGENCY— GcIS8broii.cn. if"rt '...' 0 ' 0 c\ 7 3 Goldsbrough. Hort {m".v' '•■.-. o 5 .-. - 5 9 N.Z. Loue -r-rd .Iferc. •'ord. sioci'i s? 0 0 — STEPPING— Fvn-lnr'-Parkav 2 o 9 2 3 3 ■ Hvdds.rt-Pr.rker ipref.) — 1 0 .'g P. and" O.'- Deferred"" fcura VHvA : ■' „' 590 0 0 SCO 0 0 p7>o?KK .MEAT— ' Cnriiarbury IS 15 0 •4 5 n ' N.Z. R?.fvi£. (paid) .. 1 1 6 1 3 0 X.Z. (Von.) 0 11 1 0 11 4 ' "jtib C.'ar.terburr •— 2 7 0 WOOLLENS— Kaiapo; ford.) . .. . 0 14 0 0 15 0 iVon.'s 0 6 6 0 7 6 COALV/e3*pori .. ... — ' 1 17 3 Wostpcrt-Stoofctcn 0 o 90 3 3 GAfc-Ch-ieir.hvrch ■ " 7 11' 0 7 13 ' 0 BREWERIES— Manning t'ex d:v.) I IS 6 1 14 3 TTMBER— -. Knur: 1 10 0 — MISCELLANEOUS— Benth ard Co. ,._ T 12 0 Burns, Phiip .1 1" 3 1 14 0 Electro. Zir.c M-eferrcl) ■ 1 3 0 — l'-Iectro. Zinc., (deferred) 1 3 0 — Mason. Struthers (£1 paid) — 1 i S • Mason. Struthers (14s paid' — 0 18 0 Struthers (10s paid) .. . ..■ ■— 0 11 (5 N'.Z. Farmers' Co-orj. (£2 paid) "-• •'" '■; _■ 9~ I S ■ L'tm-fwi .Picture'-: "X 10 0 "Wliitnornbe and Tombs 3 11 0 3 13 0