COMMERCIAL.

Press, Volume LXI, Issue 18370, 1 May 1925, Page 10

COMMERCIAL.

j SLUMP IN WOOL VALUES. CABLX—TBZSS ASSOCIATION—COPTBIGHT.) (iUSTBAiIAH AKD K.2. CABLX ASSOCIATION.) (Received April 30th, 11.5 p.m.) MELBOURNE, April 30. Owing to a serious slump in (values, jjt is stated that the May wool sales throughout Australia probably will be (cancelled. RUBBER FOOTWEAR. (AtTSTBAUAN ASD N.Z. CABLE ASSOCIATION.) (Rceived April 30th, 7.15 p.m.) LONDON, April 30. The -'Financial Times" publishes the details of an agreement between the North British Rubber Company of 33dinburgh and the Dunlop Rubber Company of Australia, for the formation of an Australian company for the purpose of manufacturing rubber footwear in the Commonwealth. The paper mentions that the company is being regis- j teied in a few days with a capital of j £500,000. Factories will bo erected on the outskirts of Melbourne, and it is hoped that manufacturing operations will be started by tho end of the year. The paper, commenting, editorially, <on the master, says that this highly interesting development is a necessary outcome of the Commonwealth's high tariff policy, and should benefit the two undertakings concerned, both of which are to be congratulated on their characteristic enterprise. AUCKLAND MARKETS. (SPECIAL TO "THE IM8S.") AUCKLAND, April 3o! A rcviow of this month's trading reveals a very substantial and gratifying improvement in practically all classes of business. Many factors have contributed to this. During March, owing to the annual bank balancing and the majority of tho storekeeper's stock-taking, retail stocks were allowed to run down as low as possible, and the buying of necessities was very sparing, with a result that wholesalers experienced comparatively a "slow" month. With the late epidemic restrictions now being lifted, schools reorenipg, families in many cases returning after a. long holiday, and tho fine weather, conditions, such a strong all-round demand has arisen that merchants are hard put to it to oope with orders. "Current prices are:—Hour £2O 15s per tor. (leas-9|- per cent, discount for 2001b sacks), Sharps £lO 10s per ton, bran £9' los per ton, oatmeal 25's 35a per 1001b. Grain, etc.—N.Z. feed B Gartens 5s 6d per bushel,' Algerian seed 5s 9d, maize 7s 3d per bushel, wheat 9s 3d per bushel,, feed barley 7s per bushel, Capo seed barley 7s 3d per bushel, maize meal 14s 6d per 1001b, Blenheim ohaS £lO. per ten, Eangiiikei £9 10s per'' ton, local £9 10a per . ten, .j-xtna fine quality onions (southern) £ll to, £ll 103 per ton, potatoes' (southern) £8 6s'to'£3 10s pee tea. TIMARU MARKETS. (SMCIAI. TO "THB PBXBS.") TIMARU, April 30. Business Jbas, on the whole,. been. dull in the grain and produce markets during the past week. Wheat which millers have increased by 5d lie.v bushel, havo attracted a good deal of interest. Quotations are now 6s 8d for Tuscan, 6's lOd for Hunters and' 7s for Velvet; Large quantities pf graiu have changed hands at these figures, and, except in isolated cases, growers appear to bo' satisfied with, these prices. -Fowl wheat is dearer in sympathy with milling lines, and may he quoted- at 6s 7d f.o.b. Oats are weaker, owing to poor demand from tho North Island and the publication of the Government Statistician's figures has apparently satisfied, merchants that ample supplies are available in the country ,to suit oil normal requirements. . B. grade Gartens have receded Id, and are now quot- . Ed at 4a Id f.0.b., sacks in,, while A grade is worth 4s 6d f.0.b., sacks in. The bulk of the oate offering in the district are -undergrade, and light stuff is worth 3s,to 3s 3d on trucks. . ■ . Good bright chaff is not offering very freely, and tho hulk of the staff is only fair averaged quality and inferior. Good samples are worth £3 10s. Grass seeds are dull at present, and Merchants are well stocked. Nominal quotations for ryegrass stand at 2s 6d to 3s for Perennial and Italian. Chevalier barley ifl required fox pearling at 4b 6d on trucks. . ... Linseed is easier, £l7 on trucks being me limit to-day: , ■ Potatoes are in over-supply.jand. have weakened in' consequence. ™" «• quoted at £4 and reds »t *3, which are today's best offers. SOUTHLAND MARKETS. (snciui io "m nan.") INYEBCAKGILL, April 30. Oats— During the week the market for shipment of prompt and forward delivery has improved considerably. While a weekl ago buyers wera only offering 4s 5d f.0.b., si. for A's, limited sales have been made in the last day or two at 4s,7<L Holders are; however, not inclined to take this price, \- and most Southland merchants are not inclined to accept less than 6s a bushel. Even at this price there is no margin of pioHt. 'There is now » strong demand for W"P™*f*» and prices to farmers are about 3s 9d for A and 8s 6d i or B grade oats. Wheat-Increased prices are now ruling, and a rise in, fowl wheat is also "corded. Canterbury merchants are asking 6a lid to 7s on trucks at farmers' sidings, but there is not a g7ea* deal offering. The Southland crop is a small one, but any ,good_ lines will probably bring fanners 7s per bushel. Chaff—There axe few lines offering, and .prime lots are. bringing farmer* about £S a ton on trucks. ■ , _ . Ryegrass—Several lines hava been offering as seed during the past week,, but'farmers do not seem pr&pared to meet the max***; Considerable shipments have been made of new season seed, and merchants have been left with reduced stocks. Tho demand » not keen and buyers have been trying to make purchases at Ss 3d to, 5s 4d f.0.b., s.i. Local merchants aw, howevor, not disposed to sell at lower than Ss €d f.0.b., s.i. for 27-281b seed. Prices to farmers run about 4s for heavy-weight, clean lines—24-261b per bushel or more, and proportionately less fox light and inferior lines. . Potatoes—Lines are now offering freely. The top price is about £4 16s per ton on trucks at country rtations. Fruit—Business has been on the quiet side in the local fruit market during the week. Fairly, heavy supplies of apples are _ forward, consisting principally of Delicious. For really choice samples, sales are brisk, but the bulk of the consignments are of' secondary grades and are difficult to placeLarge consignments of pears are coming to (and, and 'tor choice deSßerte. there is a

keen'demand. There is, however, a Blow sale for cookers. Quince* are in snort supply. Fair supplies of tomatoes are forward from Chrisichuroh, but <he bulk are affected by froet aj|d are very difficult to sell. The market is bare of oranges.' Current prices for the week are. aa follows:—Delicious . . apples (best dessert) to 12s Gd a case, eec- . ' ond quality 7s to 9e, Cleopatraa to 9s 6d, Jobnathans to 10s, cooking apples Garg* samples) Sid' a lb, email and inferior Ss to 5s a case, pears dessert 2id to 3d a lb. cookers l|d to 2d a lb, quinces 2d to 2jd a lb, tomatoes (good condition) 2d to 4d a lb, green and frosted Id to ljd a lb, Italian lemons to 40s a ease. f ' k PRICE OF FLOUR. (Becemd April SOth, 10 p.m.) MELBOURNE, April 80. The wholesale price of flour hu been reduced fo to £l4 178 63; AUSTRALIAN MARKETS. (Received April 30{h, 11.5 p.m.) . SYDNEY, April 80. - o»te—Tasmanisn Algerian, 8s 4d to Ss 6d; white, 4s 6d. Maize, Ss 10d. Potatoes, ' -Tasmanian St to £9. Onions, Victorian, flfl; New Zealand, £ls. < . ADELAIDE, April 30. , ' *C»tB-fti 1» 8»8d, !

[ CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. Sales Reported— N.Z. Govt, 4J per cent. Inscribed, 1938, £97 2s 6d; 5J per cent. Inscribed, 1933, £lO3 15a; North Canterbury Hospital, Si per cent, Deba, 1932, £97 ss; Whitcombe and Tombs, 70a 6d; National Bank of .N.Z., £7 la (2), £7 Is 6d, £7, £7 Is 6d, £7 Is, £7; N.Z. Guarantee Corpn. (cum rights), 10s; 8.A.W.R.A., lis 3d. Sales on 'Change—Bank of New South Wales, £ll 2s 6d; Christehurch Trams, 5J per cent. Debs., 1944, £97; N.Z. Farmers' Co-op. (CJ per cent. Stk., 19S0), £BB. LATEST QUOTATIONS.

OTHER EXCHANGES. (PBESS iSSOCIATIOJT. TELIfIEAMS.) ... AUCKLAND, April 30., Sales-War Loan, IS3S, £97 2s 6d; Soldiers' -Inscribed Stock,,,£loo 17s 6d;. New Zealand Breweries, Debentures. 225; City'of Auckland, DebeTrtures, "1929; 5J .per .cent., £95 10s, £96; New Zealand Insurance, 81s 3d; Buddart-Parker, SSs 9d; Northern Steam (contr.). 6s 9d: .Wellington' Woollen, £6 3s 6d; Abraham and Williams 289; Milne* and Choyce. Debentures, 23s 3d; Farmers Fertiliser, 100s. M . T . ~ DUNEDIN, April 30. ■g a le—New Zealand . Refrigerating (contr.), Sales' reported—National Bank. £7 Is, £7 Is <3d; Huddart-Parker (ord.>, 43s 6d. , CUSTOMS RETURNS. CHRISTCHURCH FIGURES FOR , APRIL. The net Customs duties collected at Christchurch during' April, 1925, amounted to; £92,676 10s Bd,~an increase of £24,743 5s 10dj as compared with April, 1924, but a decrease 1 of £1307 3s 8d as compared with' March, 1925. Beer duty collected last month totalled £7206 7s €d, a decrease of £1823 0s 3d as compared with April, 1924, and a decrease of £2105 6s 9d as compared with March, 1925. Details (shillings and pence omitted) •' . April April 1925 1924 £ £ Net' Customs .. 92,676 N 67,927 Beer duty - .. 7,208 9,031 Net Customs, duties collected for the first four months .of die calendar year, 1925, totalled £377,206 16s Bd, as compared with £334,413 2s Id for the corresponding months in 1924. Beer duty collected this, year so far amounted to £31,743 15s lid, as compared with £36,049 Be 3d for the corresponding four months la*t year.. P. AND O. COMPANY. ~ (mxTrro's TBLZOXAIISj LONDON, April 39.. The P. and - O. Company has declared an interim dividend of 12 per cent., tax free. .. f ■'. WHEAT. ' i s s;j;,; (AV3TBALIAK asd jt.z. cabije association.) CHICAGO, April 29. .. Wheat quotations are as follows:—May, 152 oents a quarter; Jury, 141 J; September, 134. j TALLOW. (Received April SOth, 7.15 p.m.) LONDON, April 29. At the auctions 850 casks were offered and 142 sold. Quotations —Mutton fine 45s 3d, medium 42s 6d, beef'fine 44s 3d, medium 42s 3d, all per cwt. Dalgety and' Company,' Limited,. have received the following" cabled advice from London: —At the weekly auction, 'BSO casks tallow were offered and 200 sold. Prices are unchanged to 6d lower. A brand of New Zealand mixed tallow sold at public auction at 448 per cwt. Messrs A. H. Turn Dull and Co. hav»' received the following cabled advice from London:—At follow auctions, 1350 casks were offered and 630 were sold. The tallonr mari ket has declined Is.

CASHMERE HILLS PROPERTY. Jones, MeCrostie - Company. Ltd., sold by public suction, on account of the trustees in the estate of the late Elis* Kinteningmaii (in conjunction with Messrs W. E. Simes and Co.), the property situated at No. 121 A Hackthorne rotd, Cashmen» Hills, comprising bungalow of 4 rooms and kitchenette, all offices and conveniences, and section of 29.4 perches, at the price of £I4OO, to a client. SALE OF FURNITURE. Mr H. C. Smith, of tho City Market, conducted 4 furniture sale on account of Mrs Jones, Lyttelton. The principal items sold were as follows:—Four chairs £3 Bs, suite £3 10s, D.W. Bed £1 10s, 8 single wooden beds £3 to £4 5b each, duchess* £5 2s 6d, wardrobe £6 12s 6d, 2 combination beds £5 10s, Ottoman £3 ss, sewing machine £lO, carpet runner £3 10s, hearth rugs 90s each, gramophone and records £37.

(Continued at foot of nart eetaim.)

R.S.A. CLUB. ♦ VESTED IN WAR FUNDS COUNCIL. The Returned Soldiers' Club-rooms, and the Jellicoe Hall, will be transferred to the National War Funds Council, under terms which provide for a 20 years' lease to the Christehurch R.S.A. at an annual rental of £5. The Association ratified an agreement for transfer at the annual meeting last night. lie president, Colonel H. Stewart, outlined the histoiy of the club. He said the building fund was put on foot in 1918, and when money was hard to get, the fund was Gazetted as a War Fund. An appeal was very successful, the sum of £17,400 being raised. By the Gazette notice, the National War Funds Council had been given the power to control and administer the fund. That was all clear to 1921, when a fund of £I7OO was raised to clear off expenses. A deed of trust was drawn up, and by the Washing-Up Bill of 1921, the three trustees were given power to hand the club over to the R.S.A. That was in conflict with the general legislation governing the War Funds Council, and it had proved a great weapon to the R.S.A. in its negotiations with the Council. After lengthy negotiations, the Association had received exceedingly favourable terms from ihe Council, and those remained to be ratified. By them, the Council would take over the £I7OO mortgage, and thus relieve the Association of the drain of £ll9 as interest each year. Secondly, the Coun j cil would pay to the Association, when the building was no longer required as a club, the sum of £350, which was a debit balance on a building fund. The Council would relinquish all claim to the proceeds from the Jellicoe Hall, and also to the furniture of the club. The Association would be required to pay the very small rental of £5 per annum, and it was to have possession of the club, under a ten years' agreement, as long as its membership did not fall below 200. At the end of ten years the Association had the Tight of renewal -of the lease for another, ten. years. The Council would further give compensation for anv improvements made to the club. Their executive recommended the meeting to consider the terms favourably. Replying to a question, the president said: 'lf we turn down the offer, the Council will fight us, and get a repeal of. the clause in the Washing-Up Bill. In that case we will have no leg to stand on unless we organise public support. I think it is very much in the interests of returned soldiers that the agreement be ratified, for when the dub is mo longer wanted, the Council will sell it, and : the proceeds will go to the returned soldiers.

Mr G. W. Lloyd asked why the Association should be the first to offer "the olive branch" to the War Funds Council. The trustees had given an assurance that the club would be retained in the service of the returned soldiers for all time.

.' Mr E. A. Cuthbert said that the three trustees were required when tho mernberhip of the club fell under 500, to hold it for "some public purpose of war or defence," so that the R.S.A. might not then be a beneficiary. Should the £I7OO be raised and paid off, the BJS.A. would merely step into the shoes of the trustees and be bound by the clause which required the membership to be over 500. The R.S.A. could not last for ever, and after the social side had dwindled and ceased, the selling up of the club would assist in the payment of pensions' and grants to distressed soldiers,; their widows and child- *«?,' The Association could not successfully fißht the Council, and if it lost, j it would not be given favourable terms. | A motion adopting the clauses of transfer was/passed, two voices being raised against it.

PRODUCE LEVIES. MEAT, BUTTER, AND CHEESE. The-amount collected in Chriatchurch during April, 1925, as levy under tie Meat Export Control Act, was £763 3s 6d, • as compared with £678 7s Id in April, 1924. Other details and comparisons are:—

■ irfiucotea since levy imposed in 1923 •.. .. 18,570 18 5 The-amount collected in April, 1925, as levy under' the Dairy Produce Export Control Act amounted to £lB3 17s 7d, aa compared with £63 8a 7d in April, 1924. Other details and comparisons ace: —

N.Z. PAPER MILLS, LTD. (srzeux. to "th» pkess.") DUNEDIN, April 30. At a- meeting of the directors of the New Zealand Paper Mills (Ltd.), it was resolved to lecommeiid to shareholders at the forth coming »wnn»l meeting payment of a further dividend of 4 per cent., zntking the dividend for .'the year 75 per cent. GOLD. (Received April 30th, 7.15 p.m.) LONDON, April 29. Gold is quoted at 84s llsd per fine ounce. Thie is equivalent to 77s 10id, which will be the Bank of England's statutory selling price under the Gold Standard Bill. GERALDINE STOCK SALE. There was a good entry and a larger attendance at this week's sale, when fat lambs made from 33s to 425, the bulk realising between 33s to 395. Fat ewes sold up. to 29s 7d from 235, and fat wethers at from 30b 3d to 38s. Store ewes brought up to 33s 2d, six and eight-tooths up to 30s, f Jn. eves, to 22s 2d, and a line of 132 two-tooth wethers sold at 29s 9d. In cattle, cows . brought from 17s 6d to £5, heifers 40s, Jeraey cows 17s ' 6d. Pigs, weaners 10s 6d to 16s. Draught horses: Two years £4O, yearlings : £l9 and £2O each, mares £3O to £95 10s, others £l6 to £24.

Buyers. Sellers. £ a. d . £ i. d. N.Z. GOVT. DEBENTURES— 4£ r>er cent. Inscribed, 3938 and 1939 — 97 7 6 4J per cent. Bonds, 193S and 1939 97 0 0 97 10 0 5 per cent. Inscribed, 1929 •• •• 93 0 0 — 5* per cent. Inscribed 1933 100 10 0 101 0 0 OTHER DEBENTURES— Waimniri County, 6J per cent. 101 0 0 103 0 0 Christchurch Tramways, SJ per cent. 97 0 0 — ! North Canterbury Hospital, 5J per cent. 97 0 0 — Christchurch Drainage, s$ per cent. 97 10 0 — N.Z. Brewenes Inscr. — 1 1 10 BANKS— 'a Bank of Victoria _ 7 0 0 — Comm. of Australia .. 1 7 9 1 3 0 Comm. of Sydney 23 10 0 — National of Australasia (£10 paid) 16 4. 0 — National of Australasia (£5 paid) 7 17 6 8 2 6 National cf N.Z'. — 7 1 6 New Zealand 2 14 9 — ,Ncw Zealand (new) .. 2 13 9 — Royal (£1 paid) 1 14 6 — INSURANCE— National (cum div.) .. 3 11 6 — LOAN AND AGENCY— Goldstrough, Mort 2 7 6 2 8 0 National Mortgage — 3 18 6 N.Z. Loan and Merc. (Ord Stic.) 93 0 0 — SHIPPING— Howard. Smith 1 15 6 1 16 3 P. ard 0. Deferred .. 270 0 0 — Union (pref.) 1 0 0 1 0 5 FROZEN MEAT— N.Z. Refrig. (naid) .. 1 0 1 1 1 0 N.Z. Refrig. (con.) .. 0 10 1 0 10 5 WOOLLENS— Kaiapoi (old.) 0 12 9 0 13 6 GAS- ' Christchurch 7 IS 6 7 14 9 BREWERIES— Manning fez div.) 1 16 0 1 18 6 Ward 2 16 6 — CEMENTS— Wilson's .. .« 1 12 7 1 13 0 TIMBER— Kauri * — 1 13 9 MISCELLANEOUS— B.A.W.R.A. 011' 3 0 11 6 Beath and Co. 1 33 0 — Bcath. Schiess , .. 0 7 ,0 — British Tobacco 2 1 6 — Burns, Philp 1 16 9 1 17 6 Mason, Struthera (£1 paid) .. •• 13 .0 — Mason, Strutters (14s paid) .. 0.15 6 — Mason. Strutters (108 . paid) 0 11 5 0 11, 9 N.Z. Farmers' Ce-op. (£2 10s paid) N.Z. Co-op. — 0 12 6 (6J per cent. Stock, 1930 88-0 0 88 10 0 N.Z. Milk Products ... 1 7 9 — N.Z. Paoer Mills 1 0 110 — N.Z. Sugar of Milk ... — 1 « 0 MINING^Mt.Lyell 1 1. 8 — Waihi (cum div.) : .... ' — 1 il6

Collected April, 1925 Collected April, 1924 Increase April, 1925 Collected March, 1925 Increase, April, 1925' X, S _ 763 3 .. 678 7 .. 84 16 .. 306 2 .. 457 1 a 6 1 5 6 0

Collected April, 1925 183 17 7 Collected April, 1924 63 8 7 Increase, April, 1935 120 9 0 Collected in March, 1925 4-12 7 8 Decrease, April, 1935 258 10 ,1 Collected sirro levy imposed in Much, 1924 2146 1 2