FINANCE AND COMMERCE.

Press, Volume LXVII, Issue 20181, 9 March 1931, Page 12

FINANCE AND COMMERCE.

iWOOL. DUNEDIN SALE. CATALOGUE ;OP 18,678 i , BALES. LCn TUU Spedsl *sn-ice.] DUNEDIN, March, 7., :| For tit* third wool sale of the Dune-. 1 dra season, to Behtdd on Monday, tho total' number of ' bales catalogued' is: 18,678; but as the limit is up to 25,000 therm will probably be more offerings; than - were 'ordered - when catalogues wen made„ap. ' Examination in the stores reveals that" the' wool is quite as good as that which in Christen urch commanded arise in* price®, and in some lines it is (ft rather superior quality.. It is a. good average Qtago clip, and.there seems to be reason for an' expectation' that the remits of the sale will be relatively cheerful for -the growers. DUNLOP-PERDRIATJ COMPANY. ORDINARY INTERIM DIVIDEND PASSED. (ruts Assomxzo* TSLzexAX.) WELLINGTON, March 8. The secretary of the New Zealand Stock Exchange Association has received the following cable from the i secretary of, the Dunlop-Perdriau Bub-1 ber Company: "Interim dividend, payable 31st inst., of ire per cent, for the half year ended December Slst, 1930, on preference shares: no interim distribution on ordinary shares. Books close on the 20th inst.'* The interim dividends paid in March Typt year were 5 per cent, preference •ad 3 per cent. ordinajy,tbe same rate being paid in October. In 1929, both dividends were at the rate of 10 per ' \ cektf but 'ordinary dividend was paid i in 1928. The preference capital amounts to £9B<M>Off, and the ordinary to £3,765,655. The net profit last year was £230,609. 1 The reserves as at June, . 1&0, w6re £504,510. WIRB&ESS.

THE REAL ESTATE MARKET. FIRMER TONE AT DUNEDIN. Special Service.] , ! - , DUNEDIN, March 7. '"Prices, have been coming down for * the past 'four years; but.now tho real estate.market, is showing, if anything, a ' much" firmer - tone . than . it did a month or two ago/' said a Dunedin land' agent, when discussing the present etato of the property market. This opinion was also borne out by other agents interviewed. i "Builders are selling ; houses prac--1 ticaliy at cost price,"" said one agent, i- "and these conditions will-provair until the people regain their confidence i and money is being ; circulated more freely. The position should improve • before long, but there will not bd anything like the boom in 1919 and 1920, to-day the buyer can. purchase better than since " the war* Houses can be bought much cheaper than ■ they can possibly - be; built/.' ''while : the. .real .estiate market in Dunedin'"has been dead, for some considerable time, the depression .has not | ; affected values to anywhere near the [ extent experienced in northern cities," t said anotner man. 'Dunediniis not yet over-built, and this in large 1 measure has helped to stimulate prices;" RUBBER INDUSTRY. LIMITATION OP PRODUCTION. (bbxtibh omcui. WISXLESS.) (Received March Bth, 5.5 p.m.) RUGBY, March 6. Questioned in the House of Commons on the depression in the rubber plantation- industry in Malaya, and, other British dependencies, due' t'p : IQyetproduction - in the principal producirtg countries, the Under-Secretary'for the Colonies", 'Dr. Drummond Shiels, said Government could not see its way to initiate any scheme, but if .the producers • in all the countries .concerhed 1 oduld aferee on a scheme for the practicable planning of ap aggregate production , to correspond witn, tne world'Remandji" it would receive careful* consideration. -- ■* i * • * * M)NDON FIRM'S ORDER. t1,909,0W' WORTH OF GOODS. V» - - '» ' ' ' ' " * - 1 ' ' The ■' successful sale iri'fthe ;hisftow "their liouse" was held by Harrbds, in London, in the of January. * The firm reported that the great awn of £465,000 was taken in gix dajnß, and to celebrate this record it wait placing orders to the value of £1,000.090 witn British manufacturers. IjOOms Wm iwili spent m the prmciindtStr^—in textiles (in-' cluing piece ,goods erf every description), made-up fashion goods, furniture and?furnishings, china, glass, hardware, men's wear, boots, and shoes, hosiery, and other British products. These orders are being placed at once for of British and'iio refieve}uheinploytoent. anndu'awment was by as an indiciitWtt: of? cdn* fidence in } a : general ipipiwAnfent te; xetin %iriff ?n the coming yeat, ami: a eheouragement to manufap?3a^A«sS! jasiayiSggJ liiMl nHHlp^fap ; tow- mmniNfi. ' '1 - . /■ ! of'the caßemesfl Sw obtain Business m /WWUngJxm "to-day; the followW ten«ity jdb,;.tb post £OOOO at ® were recejl% reth©, opn«rwd;~. np to as high m y £6BW. retoin to. thpybjiilderj i in nia-. , tefjiila and conditions of abrtut, 2 per ' , i *', / ' * '/ STOCK j&A&B, v ®aa «»»•) ' GIBBOB»K,ii£Sn)h 7; v ' At. - toboiaa' «9l« fat sheep were untst srs; good £8 12a 6d, fair • SSSSWjfff yoar; feirly' eood' 2b .W, 'good I! mouths, no, co«idiUon,.;la iaad 6d; ambs; »ve»gertor«i, 2s, ,6in*ll„.'h.aliiy .Sd;-.. wetliew, -.solid. 6a Id, 'fresh' tirofoH&Mfy Bd»'fait' #4. * stock sale;' ■ !si\r I; \ 'I; 'it' I , 'ite'ihe monthly sale held last friday.there nearly, 600 shedp;-mostly .Thera ; '*as; a.; g:ood demand-for all lapjjtp,' b<tm f ;ii|ts' sad i'vtores. •;' Amongst th»1 Mle'rrl,Sw f>! T - ur:* "Ktj_ ! •>„, • ,lid, 70' at-' 12* 10d, 180 stores' At- Hi '«d f ' 100 at at\a»\^ 1 - i W<rth"?rs! Nino at 8s: Bd., aid 12 : nt H s 1 > » v • , t r-rp\ #J "| i,[ • \rf'f 1 Y - \ '' ' 1 "' § tana JPebrnajry irf'a* nn*de*:-r at;;£6oß6;,' ,V7<>rklne, £6WO.*' d '9B, u Qune«s 'goM*v*loiffj.at ; «570; irorking «*- penata. ilM^caiSiM^texpenditore}' ttivmm «MBji pr^ofer.oii, - V s " * WBS/ * tTD. for Vebnuiy in nl - t«» quaru for 82 it sand k 49:, Wtie.es hOiUon, Wjlmated value r J- ?' "* r ' V, , ' - f C' " wßlwiiWHf tu <•* , I/, H. v " 1

meat market. LAMB EXPORT, j REDUCTION IN RATES. The Home market for lamb has shown a downward tendency recently, and' a reduction of, id a lb has been made'in the Canterbury rates for •«*- jJort. l : The. fickle now operating is as • * Lamba-'-Up to 301b, 4|d.;. 37-42' a, 2£d; 57-64's, l|dj 65-72's, lid;, over 72'6, |[d} seconds, lid. quotations from SIifITHFiEIiD. (Min» M*»s aSiOCUTIOK-S* ' SLSCiaXO **t*aaiM—co**aio*T.) (Received-March Bth, 5.5 p.m.) LONDON. March 7. The weekly quotations for undermaniTihoufd b? deducted cels'f airly representative of the bulk of the ghipments'now on oner: 'NEW-ZEIAIAND SHEEP! North Island crossbred wethers and maiden ewes— : 1 •48 to 66ib •• -■ Ewes— „ oi Under 481b -• - i\ 48 to 641b - •• - f.\ 65 to 721b •• AUSTRALIAN SHEEP. First quality : Ciossbreds and/or merino wethers— ». 40 to 661b •• -I NEW ZEALAND LAMBS. Canterbury— , 361b and under . -• •• ®t 37 to 421b •• » •: 4S to 601b • • - " 6 « Second quality:- • - Kt Average ■ 80lb : .. • • " . '•** * Selected'Nofth,lsland .brand*— . Includlpff iDoww: ' 301b and undir • .. - .1 37 43'ter 50ib' ' *«' •• ' "• Other North Island brands— Fiiat . quality^. v ' , 861b and .under • »• : ° ' 87' to 421b «• : f Second quality s ! ~ AverSge 801b.- ...... r- ~ • ! AUSTBAMAN LAMBS. Victorian— \ " Second quality: / - 86lb and under ... •• ■ «• * 3 Other StatesSecond quality: 861b and' under •* , ** All States—' Third-quality:/ „ . Sfllb and under i- •>, «; * AUSTRALIAN FROZEN BEEF. | °* lflirft ' Ot« 1001b 1 ik •• ■ ~' Ox - " • - ' i." XJpdmJßolb (j «• .. ••>»* OySr 1601b '■ - - ;. -• t v. - \ < f CHILLED BEEF. Ox fores—' > ■ ... 160 to? 220tb , *»' 8 * O* hinds—■ ' leo to aaoib ' Other quotations nnehanged. 'f '>, u' J f ' MEAT BOARD'S REPORT. • The New Zealand Meat Producers' Board j lias received the following cable from its Lon-, don office, dated March 6Jh, 1981. advisins following' are the approximate avwrafe prices W«ok, based* on actuat tranMetiohs otj wholesale, quantities of Oie descriptions.of-MWt mendone^ »nd «|« f, yaTfSfsffssßMWffl.'is:. /on the basis oJ'tfilWered to Sin!thflel4 niarlAt '* V '&i l * 4 fC'*: \ 6. ,27. f , 1 ' * 4. i l lr H * «'4» , 4* NeV Zealand ■' ' ' , t Canterbury; and North Island < , - Selected: - , . 1 * - Cro*»bred ; wetkors and ■ -.tiaarrr- r ~-a a- * rVorftli' Ailattd fin * .W'Mibw* y v -. V 2a ISalolKri-»H rf T ! ?-' \ -r' ;%48 ? Mih''. - a| »,fajtrta&tt,'"# ' J' ■'>:/5i Seleeted vdWsnd , brands (includiiag ,Dpw#»)— , ' 80-under,, / k- ..> 6| .. 7 ,87«; v < %,:■ J >. 21 > ' ' 48-6fflb , kt - ..6| 7 Second quSßWjif-' ' . iOthar No^W^d'pKani*— \ 4 , First quaitty: • - , - ' ' .(■, ,r. •, » ®| 87-42fH»,\ •'< :« 6 ?> i.; Second quUHfe-i " « , ,Average ,811b ,♦}. 6| £| Xiambf— Vlctorisi'i ' / v '' " ' j i First qualltyt * •• - <se^under-- -J* . B , •, .. ■ i. 6 6 Argentina LambFirst quality: 86-under . ' .. 5 ® • • 87-421b .. ..45 >4B Argentine Chilled Beefr-* 1,, Ox fores .. "., , ai ff o*.hinds .. r , .» W 6J Australian Frozen BeM—- - , Ox crops, over 1001b .. 2i 2§ , Ox hinds, over lflOlb 31 8S New, Zealand Prime Porkqr Pigs— < COilOOlb .. ..54 BJ 101-1201b .. ' v 4i 4i New Zealand, Prime Baconer Pigs—- ■ ,iai-1801b ..6 .5 Ziimb Market—Continues' easier owing to rover-supply> from all ' sources., ; Consumption. 'good* h * * Mutton Market —There is e little more-de-mand; ttr wether*, but prices Ewe* .meeting with batter enquiry, with sjightly better' prices. • " ,l •> ' • ■ L ' -<New .Zealand -/Buef—Market is^depreßaea aM-NewiZSWnd, ■ -t '■ " 1 Zealand'Bofccmei'. price*. 1 Tfhiißank'of New Zealand ha*' received the adWce from lt»jLondon office as' at 'the ,'close of .business tWi ,week:— > j i Frozen >te4t-*-The demand for wether mutton but prlfe* are, praoticaily «- Schtaged, The market for ewes i» ■flrinerowliitrtd the «nall supplies available. For the.time oCthe year,.there !*;» fo» lambs. * but, the market, is- over,-supplied end srioes are "effected' in consequence. The market for-beef'is -depressed owing'to, heavy !atocka ; of Argentine. Pe „ b : ' s : J " ' . . d. • d. • ' 3 to 41 ' ' i'Hw « Bwea'v/ • • i«r . •• / * ' 1 to #i Lamb# — , j „ . Two'» , , ~ • • « to 6J K , -Bight's . ' •, •. § to, 68 , Four's - • • "" •• 7 »• S'econda .. .. B to,Bi Ox hinda .. , •• 8| to 8| Ox fores ' ..... Si to 21 ■Qow hinds ... „8 te 8s •Oow fores - .... , ■ .. 25-to 2J LONDON QUOTATIONS. ' March 5.5 p.m.) . ' ' LONDON, Match 7. . Friday's closing price's werej—- , CottoiV— April, 5.99 d. 1 * ■ * - . Bubbef-Par* v 4Jd/ -plantation smoked 4 l-l'Sd. < !■ ' ' - ' Jute— fIS and £l6 2a 6d. Hemp March-April, nominally £2O IW. Cpp'ra—April, South Sea £l4 17s 6d; plantation Babaul, £ls. ' , liinseed Oil—£l9 16s. • y Turpentine—<os. i ■ • i ' o*miridium— Unchanged, ' - e 1

CHRISTCHURCH STOCK EXCHANGE. SATURDAYS TRANSACTIONS. Markets were quiet on call on Saturday morning and the volume of business recorded was the smallest total for the past week. The markets for Coal and Gaa Company shares were neglected. Transactions, exclusive of vestibule business, included 300 Commercial Bank of Australia. 100 New Zealand Breweries 100 Jft Lyell. ~ 1000 Mahakipawa Golafields. / In .-New Zealand Government' Loans the only quotation# were for 4$ ; per cent. Tax Free, 1938 and 1939. Stock at £93 7s 6d, no sellers. Commercial Bank of Australia shares were fractionally firmer with dealings at 15s 3d, sellers staying in at that figure, buyers at 15s 2d. Buyers of Dalgety and Company shares moved up to £6 16s, sellers at £7. Goldabrough, Morts had buyers at- 21s 3d, but sellers wanted 21s 9d. United' Building Society were stronger with - buyers at ■> 13s ;6d, tellers at. 15s. New Zealand Breweries shares jumpM to 38s, and there were further sellers at that price, buyers at- 375. Austnr liari Glass Cofnpany shares hardened to 24s 9d buyers, 30s sellers. British Tobaccos were available .at Friday's busi-: riess figure, ■ 30s, buyers at 29s 6d. Mt; Lyells were fractionally weaker « at 203 10d. : closing quotations 2d on either side. Buyers of Whitcombe and' Tombs shares raised their bids ,to 65s 3d, sell-' ers at 60s. Mahakipawa Goldfields: shares were slightly easier with dealings at 6|d, buyere istaying in at that figure, sellers : at; 6d. ' , . t 1 : I LATEST QUOTATIONS. : Buyers. Sellern. £ «. d. £ t. d. N.Z. Government Debentures—per cent. Inscribed, 1938 and 1939 .. S3 7 • I Banks— Anst. of Commerce .. 015 9 017 9 Australasia icum div.) 910 0 Comm. of Aust. 016 2 016 8 Comm. of Aust. (prsf.) SIS 6 6 4 0 . Ccmm. of.Sydney .. 14 0 0 IS 0 .0; .E.> 8.,-and A. 16 0 ; 610 ,0 National of Auatnlasia ■ | <4lO paid),.' ;. 10 0 0 ; —, - Kaiional of. Australasia ; i (£6 paid) .. •* S 0 6 6 SjO I ! Now South Wales .. 2615 0 27 17 6 New Zealand 2 8 8 2 8 1> | New Zealand ("D" Mortgage shares) .. 16 6 '— ; 1 > Union of Aust.. • •• 712 6 810 O Insurance—- * New Zealand .. .».• 118 6 i South British .. 211 O I B to lioon and Agency— Dalzety : and' Co. .. 616 0 , 1 0 0 Golasbrough, Mort .. 118 1..1 7 National Mortgage. (£1 , -pud) <- ,•jo,l 1 O i N.Z. Guarantee Cotpiu - O $ 8, 0-7 8' Permanent, Investment 9 0 :; 0 -10 10 0: United Building • Society., 618 '8 i 015 0' Shipping—-, / '• ' . ; , j P. and ,O. Deferred Stock .. 111 0 Frozen Meat— - " ' ** '■ lf.Z. Befrip. {los . paid) . « » 3 V 0 2 6 1 North Canty: Fretting 0 1 9 0 8 0 Woollen*— ■ Kaiapoi (17s paid) '.. 0 6 8 9 8 8 Breweries— Carlton 18 6 New Zealand .. .. 117 0 118 0 .. .. Oli.O Tooth* .. ji. 118 13 8 Ward .. .. 0 13 0 Miscellaneous— Amalgamated "Wiioless (contr.) • .. .. 018 0 Australian GltiC .. 1.4 9 110 0 . Beath and Co.. 10 « .1 2 » Berth .and Co. (Is pd.) .0.2 f l 08 6 British Tobacco 9 6 110 0 Colonial 1 Sunr ' . Dunlop-Pexdnaxi " 'BuV<-' * ' ber. " .. • '*» <' —. [.O 11 0 'Electro. 1 Zino (oid.) ; 'i, ■ Ofl .-.IV Bieftror .Zinc (pref.)j,- 015. 6 Greater OmteU ffSSm . 013, « ' , Hpldea'«;Motom -L.i r 0.;9 0 Oil 0 , Mt. Eyeli " ... '-1 0, 671 1 0 N.Z. ■ Farmers' Co-op. - . ("B" pref.) .. —• ,110 0 NJZ. Farmera' ,Co-pp. , ■. (61 per cent.. Stock, ■ 1S40) 4 64 Of 0 ' North' Ointy. Co-op. l .j" , Flour 010,?,* ' ' Quill, Morris ;.. 0 5 d' 0 7 6 ,uiitf4 Pictures '. ,'^0,5'.,0^ , whitoombe 'fad Tomia..' 216 8 V's ti 0 Wilson's Cement .. Wunderlieh ' O'-.l 0 ' » * * , * *4 Mining— i ? Cornish > - ».: 0, 0 ■ . ' Kawazau .. .» 0,0 SK"O 1 ® King Solomon- ; . "0.1'71,0 1 0 Mahakipawa .• : 0 ; 0- 0 0 6 Bton«y, Cmeli tfPJd'pd)'-' 0 0 1 Waihi .. .. 015/s'? '"Waihi 'Grand >Junction" 'O-'.Si-a 3 7 ' Winding Creek (la pd.) 0 0.1 "' ' ; SATURDAY'S SALES;' V Sales on 'Change—- , , Commercial Bauk .of Aus-* 'f 'j £ , A vtralia " ... ,<9) 3 -New Zealand "Breweries 0 Mt. Lyell ... 1 010 Mahakipawa ... 0 0 51 ' AUCKLAND. Sales on. .'Change—- £ s. d. Inscribed Stock, 1986, 54, . per cent. ... .... 98 15 0 Bank of New Zealand ... ~289 Colonial Sugar ' 30 6 0 WELLINGTON. Sales Reported—- ' £ fS. d.,. New Zealand Government X- ( ' ~ Stock; 1986 ; 99'. 01 Or , New Zealand Government . ; t per cent." Bonds, 1937 941$' 0 New Zealand-.Government, • f -j -r '' 5J pet "cent; Bonds, -1937 $4 12.' 6' DAIRY 1 PRODJJCE, ' V ~ J;" ''' '■ LONDON 1 quotations; J *( / r" '' f 1 ** ' The Zealsnd -Dairy Produce Board 'hps received ''the following market 'report ftom its London office, dated. March:, 6th: —, Batter—New Zealand, salted 120s .to. 122s up to 124s . (last week, 120s-to- 128s), ,un» salted" 124 i to' 128« up to' 18,0s '(l26s' to 180b), first whey H6s (118s), second whey -114s (116s); Argentine,■,< unsalted, 120s' to 122s to 124s (12.21 to 126s to 128s); Danish; 132s f.0.b., 140s to 1425, spot' 185s (140s to 144s>; Datch. nnsalted,. 136s Vto 188$ (1.44s to 1465). Market' slow. New' Zealand .retail price Is'3d, Danish: Is sd. Australian, salted 'l2os to 122s (119s, 12ft*-to. 1225). cunsalted 122s .to • 1265. (122s A to 1261))',,g00d 'demand; deliveries Australian, .-1475' tons; in store, Australian, 950 tons. •: . < Chpeae—New Zealand, .whlto I >B6s*''toVE7s, exceptional, 58s (57s to '584),"' cplotjre'd" 58a to 60s (58s to 60s); definite prenkluQt:of lB lor full cream cheese this -week and' last ireek;, Australian, white 156s' (56s to- v 575); coloured' 57s' ,-to' 58s (57s I to 58s) i. market quiet; retail- prleps unchanged,Od; Oftnadian; white 745 f ,76a ttf.'7Bs (74s'to 78i),* coloured' 74s to . - finest' - 100s to 103s (100 a ■■ ~ " -I HOLDEN'S MERGER APPROVED, At a specif meeting in.M«lboarne Jaat week of shareholders of Holden's Motor Body Builders, Ltd., with reference to a proposed ■merger of interests' of the company with <Sei«>rnl Motors (Australia) Proprietary, Ltd-i; j t i , / / *i" '' 1 H f S . ' 1 1 J. 1 *" f

m* r.i r •?* ■ i "' « , all resolutions-were carried. The pTOposai wai for* the of 'iimforence shares in/ Hoiden s-Motor-Body Builders r by' the cash payment of 2Qa jper share andof the ordinary, of nine 6 per cent.,, cumulative Shares" In the -combined company for evwry tin ordinary sh»>res held in Holdeu a Motor Body 3u|lderß, Ltd. ; . POULTRY PRODUCERS, LTD.,; ' The Canterbury Co-op. Poultry Producers, Ltd.? report that the supply Of poufey- *S rtill increasing but demand for., hoilinj ' he The'follownff*prices were realised per pair; Table chickens, Kghfr'Bs 6d "to 6b ' ->®»ZT; 7s 6d to 10s; hens, light 2s 8d to. 3s, heavy -■is'to'Ss; ducks, old''2s 6d to 4s, duckUnM 8s 6d to 6s; geese, 4s to ss;-turkeys,.hen< 14b to 18#. gobblers 25« to spy, The supply of eggs ' throughout;, the Domin. ion exceeds "the deniandt.. ana prices • dropped Our. prices are flrsts and i ducks Is ,6d, seconda Is • 4d, abd rpulUta -18 Id. v ' —9