COMMERCIAL.

Press, Volume LX, Issue 18236, 21 November 1924, Page 10

COMMERCIAL.

THE WOOL SALES.

KEEN INTEREST,

(special to "the pmsss.") AUCKLAND, November 20. Interest in the wool sales this seaBon has quickened, to a remarkable degree as a result of the high prices realised at the first sale of the season an Wellington. Discussing the prospects to-day, Mr W. 3). Stewart, Dominion superintendent for Dalgety and Co., Ltd., referred to to-morrow's sale at Napier. He remarked that the Napier wool should be as good as that offered at possibly rather better in Bome grades. If the American demand continued, Napier prices should at least equal those realised at Wellington. Bradford still required wool of good quality, and buyers no doubt had acquainted their principals of the position due to American competition. If Bradford buyers-" limits were extended for the Napier sale, and the wool opened up well, there should be great competition for it. Regarding the coming Auckland sale, Mr Stewart said there were some good clips produced in Auckland, but a considerable proportion came from fairly new country ancr couldi not be expected to reach the same standard as that from old-estab-lished flocks.. • Wool for the Auckland sale is coming in freely. Several growers who.intended shipping to London intend to sell locally in view of the high rates ruling. Last vear 12,000 bales were offered in Auckland. This entry is expected, to be exceeded tris year.

COMMERCIAL BANK. (fuss association tsltobah.j WELLINGTON, November 20. An extraordinary general meeting of the Commercial Bank of Australia will bo held next month in Melbourne, when proposals to increase the capital to £4,000,000 .by the creation of 839,552 additional ordinary shares of 10s each, ranking for dividend and in "all other respects pari passu., -with the existing ; •-sh ares, will be submitted, the shares to be issued by the directors when considered expedient and offered at 10s premium in proportion to the shares now held by shareholders.

DOMINIONS' TARIFFS.

BRITISH INDUSTRIALISTS SUGGEST MODIFICATIONS.

(bt cable—pbsss association—copybiobt) (austbaiiah and r.z. cable association.) • (Received November 20th, 7.55 p.in.) LONDON, November 19. The committee of the Federation of British Industries, in a letter to Sir Philip Lloyd-Greame (President of the Board •of Ir#de), urges that" representations should he jmade to the Australian and New Zealand Governments to modify the 75 per cent, preferential tariff over a wide range of commodities—some of .wholly British origin, others complying- with the regulations in the spirit, but. not in the letter—where goods are partially manufactured elsewhere and finished in Britain.

;.Iho committee suggest* the deletion of 60 per. cent, relating to goods manufactured ■ :fa«it«in';from materials not available in Britain, if, similar goods are manufactured in Australia and New Zealand. ' \ AUSTRALIAN LOCAL LOAN. , (ivanxEUx ato *.z. cable ißsocrAHojr.) ~ SYDNEY, November 20. Dr. Earls Page (Federal Treasurer) announced that the States' local Joan of ; ( «0,800,000 hao now been fully subscribed ' r CALCUTTA TEA SALES. (Snceived November 20th, 8.45 p.m.) ' .. - '.' November 19. At w« tea Bales there was a good demand ■ : -^L™™ 01 " 8 ! Ijwrticnlarfy higher grades. 6 P«« to IS annae; commonest broken leaf ..Md : ordinary common pekoe souchon 15 , aaaw.S. juea.to one rupee; lowest even leaf ~ pekoe, one rupee to one rupee one anna. < : rt!?u3? * uatß werekin strong request, ; th *l* t *«r brrngxng up to 14 annas. ' ■ Jrnc&i generally advanced one anna. AUCKLAND MARKETS. (sencujj to "th* MUs'!")*' '•■'''■"•pL-- ». 1 /-:''f U S !KLAND » November 20. ■ •-... ifto _ wholesale hard ware trade reports busi- . ness m good volume with every appearance ■• °k^L_i n n reaßmg *? the awßth advances. e B .f or refined sugar Were #, W>n at the. en? of last •tfeek, which makes the fourth reduction :Bince list. May- The revision in the cash . • retail prices represents a. reduction on the previous bag rates of 7d on No. 1, and Is 6d on No. 3. and No. 3, and 7d on brewers' crystals. Loaf bears a reduction of 6d per case. .In-smaller quantities the selling rates nave been reduced one farthing per pound Potatoes—Since last report larger supplies of the local new crop of potatoes have been available, and. as a consequence sales • 2i-„ v soutneni na ?e declined somewhat. .Still there will be a demand for at least ••j»nother fortnight for old potatoes, but, it ■•,..*» not. likely that any further lots will be . brought up from the South. Naturally when new potatoes are offering at a reasonable price, buyers prefer them to old. The quality of old southern potatoes has continued first class, in fact, much better than . •■usual so late in the. year. Southern-whites ..are quoted at £lO 10b per ton and new at . £l4 to £ls per ton. '■Onions—This market ia now entirely de- .. pendent .upon supplies of onions imported ■ , .'from panada until the new crop is ready to be shipped from Melbourne. The quotation .. is 32s tfl. a case.

Maize—Prices for maize now rule Terr '• high, as very little grain is being sent up "• from "the coast. The price now asked for maize at Gisborne is 6s 6d per bushel f.o.b which means 7s 8d landed in Auckland. '' Oata—There - are still fair quantities of Canadian oats in stock, and these should fill . local requirements for some time to come. Enquiry is being made already at Invercargill for oats for delivery next season . from April to September at 3s 8d f.0.b.; sacko in, for B Gartons. Chaff—A very firm market exists for chaff.

Stocks here are barely enough to carry on with. Quotations for Blenheim chaff hare ••- "' declined a little, probably because holders recognise that the new crop will be a large one and .desire to clear lines before it is on the market. Victorian is quoted at £ll ..per ton in sacks, Tasmanian at £lO 10s per 4 ton in sacks, .Victorian compressed., at £9 10s per ton, and Blenheim at £l3 per ton. *': Wholesale current prices are—Suparfi>.e .- ■ quality creamery. butter Is 7Jd per pound booked, prompt cash Is 6Jd per pound, first grade factory butter booked Is 6sd per 'pound, cash Is 6d per pound, second grade ' la 6H per pound booked. Is 5d per pound "'■■ cash, -farmers'■ separator Is Id per pound, cheese 9d to lOd per pound, bacon and >, hams la Id per bacon .sides lOd '.'■ to Hd per pound, lard in'bulk lid to la per pound, in pats Is to Is Id per. pound, flour £1,7 6s per ton fless 2J per cent, dis- '■•' count for 2001b sacks). HAWARDEN MARKET. - The Hawarden market was well Attended yesterday, but for the'first time in ita his- '' tdry- the' sheep yards were entirely, empty. - Thirteen head of. cattle, seven pigs, and -y ~.-..ihree horses comprised ."the entry ..of live stock, and the sales were 2 forward heifers '..-■ «t £5 :2b 6d, 2 cowa in profit at £7 each, :-L 1. irt'. £5 . 7s- 6d, lit £ff 106, 3 springing '. Keif era at £3 each, 2 dry cows at £3 each, " a bull «t £5, a draught horse si £3l 10s, and large weaner pigs at 29s 6d to 365.

CHRISTCHURCH STOCK EXCHANGE.

OTHER EXCHANGES.

YESTERDAY'S TRANSACTIONS

Sales Reported—Manning Brewery, 33s Gd (two, parcels); N.Z. Refrigerating (con.), lis lOd; XatioDal Insurance (cac div.), 10s.

(mess association teleqbahs.) AUCKLAND, November 20. Sales—Auckland Harbour, SJ per cent. Debentures, £9B 10s; Brewerks Debentures, 22a; Commercial Bank of. Australia, 80s'6d'; Auckland Gas, ,24s 3d: Kauri Timber, 30s; Gear Meat, 47s' 6d; Hill and Plummer, 21s 3d; Union Oil and Soap. 34s 6d; Waihi, 26b. , ■'.■••■

WELLINGTON, November 20. Sales on 'Change—lnscribed Stock, 1938, £97 7s 6d; Bank of New Zealand, £3 Oa 3d. Sales Reported—Bank of Australasia, £l3 Ss 6d; Bank of New Zealand, £3 Os" 3d; Mosgiel Woollens, £6 15s. DUNEDIN, November 20. • Sale—Westport Coal, 1 345. 6d. Sales Reported— Kawarau Gold Mining, 20s; Westport Coal, 34a Sd; • Electrolytic Zino7(def. ord), 24s 9d; South British Insurance, 42s 6d; New Zealand Refrigerating (con), 11a 9d; Huddart, Parker - (ord.),, 43s ; 8d; 4§ per cent. Bonds, 1938, £97 10s.

ANGLO-PERSIAN OIL. BRITISH GOVERNMENT HOLDINGS. '- {Received (November 20th, 7.50 i».m.) LONDON, November 19. . It is officially stated that the Government haa' informed the Anglo-Persian Oil Company that it does not intend to dispose of the shares it holds in the company. WHEAT. (Receiived November 20th. 8.45 p.m.) . . • . LONDON, November 19. ■ Wheat cargoes are steady, but :the market closed quieter in view of an improved Argentine weather report. Parcels are finding »n improved Continental demand. (Received November 20th, 10.20 p.m.) • CHICAGO, 19. Wheat: December 161g cents a bushel; May 159J; July 140. ' TALLOW; (Received November 20*11, 8.45 p.m.) LONDON, November 19. At the tallow Bales 962 casks were offered and' 578' sold at about 6d per cwt advance. Quotations: , Fine mutton 53s 3d per cwt, medium 49s 3d. Fine beef 535, medium 49b, . Dalgety and Company, Limited, have received the following cablegram from their London office, dated November 19th:— "Tallow—At the weekly anotibn, 960 caska of tallow,were offered, end 690 sold. Prices are par to sixpence higher." Messrs A. H. Turnbull and Co. .have received' the following cablegram from W. Weddel and Co., Ltd., dated London, November 19th:—-"Tallow market has advanced 6d. At tallow auctions to-day 960 casks were offered end 690 sold." EXCHANGE ON NEW YORK. (Received November'2oth, 8.45 p.m.) ...' LONDON, November 19. The -exchange rate on New York is 4.65 J.

GOLD. (Received November 20th, 8.45 p.m.) LONDON, November 19. The price of. gold is £i 9a 7d an ounce. AUSTRALIAN MARKETS. (Received November 20th, 9.50 p m) SYDNEY, November 20. Oats—Tasmanian Algerian feeding 4s 2d to 4s 4d a bushel; "White Giante 4s 7d to 4s Bd. Maize —Yellow 4s, white 3s lOd. Potatoes—£s to.£B a ton. Onions—Brown Spanish (nominally! £35 a" ton, local new £ll to £l4. ADELAIDE. November 20. Oats—Algerian feeding Bs. - .

LATEST QUOTATIONS. Buye rs. Sellers. £ s d £ ». d N.Z. GOVT. DEBENTURES— ■ <4 per cent. Inscribed, 1908' — 87 12 6 4J per cent. Bonds, 1930 97 10 0 — il per cent. Bonds, 1938 — 97 10 0 ■ V per cent. Bonds, 1939 .. — 97 12 6 5 per cent. Inscribed, 1927 S7 0 0 98 0 0 5J per cent. Inscribed and Bonds, 1933 .. 101 7 6 — (THER DEBENTURES- - Christchurch Drainage 5* per cent. 98 0 0 . Chiistcburch Tramway3, oh per cent. — 98 10 0 Lyttclton Haruour 4 p.c. £8 0 0 — N.Z. Breweries, BondB — 12 0 BANKS— Australasia 13 1 0 13 3 0 Bank of Victoria 6 11 0 — Comm. of Australia .. 1 10 3 — Comm. of Sydney 22 0 0 — New South Wales •40 10 0 41 0 0 New Zealand .. 3 0 0 3 0 6 Royal (£1 paid) 1 12 9 1 13 6 Union of Aust. (ex rights) 13 -2 0 13 15 0 INSURANCE— . National (ex div.) 3 10 0 / - New Zealand 1 9 G LOAN AND AGENCY— Goldsbrough, Mort 2- 7 6 2 8 0 Goldsbrough, Mort (new) 2 6 6 2 7 0 N.Z. Loan and Merc. (ord. stock) ; 93 0 0 — N.Z. and River Plata — 10 0 SHIPPING— Huddart-Parker 2 1 6 FROZEN MEAT— Canterbury — 14 5 0 N.Z. Refrig.' (paid) .. 1 2 0 12 9 N.Z. Refrig. (con.) 0 11 9 0 11 10 WOOLLENS— Kaiauoi (ord.) 0 13 9 0 15 0 COAlA ' . .,; "Westport - Stockton (pref.) .0 5 3 0 6 3 GAS— Christchurch 7 16 0 BREWERIES— Crown - .. .. 2 4 9 Manning 1 13 3 1 14 3 New Zealand — 19 0 Ward 9 10 6 2 12 0 TIMBER— Kauri (cum div.) 1 10 0 1 11 6 MISCKLLANEOUS— Beath and Co I'll 3 1 11 9 Blcctrp Zinc! (pref.) — 18 0 Electro -Zinc- (def,) 1 4 0 — Mason, Struthcrs (£1 .paid) ... ,. 1. 4- 6 Mason, Strutherj- (Us paid) 0 16 0 Mason, Struthera (10s paid) 0 11 3 N.Z. Farmers' Co-op. (£5 paid) .. 1 13 0 ' N.Z. Guarantee Corpn. (4s paid) .. 0 5 0 Evans Atlas Flour Milling 1 12 0 United Pictures 1 6 0 Whitcombe and- Tombs 3 10 0 3 10 9 MINING— ' Waihi .. 1 5 6 __