CANTERBURY MARKETS.

Press, Volume LXVII, Issue 20183, 11 March 1931, Page 10

CANTERBURY MARKETS.

BETTER TONE FOR WHEAT. (XT Otnf COUHXBdAXi BDITOB.) ! Tuesday Evening." i 'potato market, the main source of interest in .the speculation market, •id inclined ,to .be weak. . Sellers for. April-May-June are asking 82s 6d t.0,.b., s.u, and buyers are offering 80s. > r alues on trucks are £3. Not much business is passing. The general impression is that the potato crop will be a good one., During the long spell of dry weather the position- was fraught with some concern to growers, but the rain came at A critical period, and now thero is 'promise of a normal yield, 4 With an increased acreage. • , - Onions for prompt delivery have eased to £4 on trucks. The crop promises to be a fairly good one. . Wheat.

' ■ There has been a slight firiDing.of rthe forward fowl wheat market. At .the low prices ruling there has ; been :W* i creased business in this commodity. . > Milling wheat has also .developed a > shade better tone. Prioes „ have_-im-proved very lit-tlCj but. 5s 7u v f.o.bhas been paid for Tuscan. ' 1 In view of the probability ot having to be imported to some extent ' —the quantity being dependent on the yield—the market is strangely quiet. 1 The exchange rate between Australia and New Zealand is permitting wheat ' to be imported under favourable conditions, off-setting to some extent the protection * afforded by > the sliding • scale. ' A 'shipment of < 3000 ■ sacks -ot milling wheat' arrived •in -Auckland froiln Australia tr the 'other day. This •is earlier in the season than usual for fins -trade, .but the benefit ■of the exchangeV fthe prospect of . wheat hairing , in . any case, and the definite anpouncement= that no relaxa.tion of the duty is to. bei made, until' the present crop;is sold, are no: doubt the' cause of.'the" earlier .op'erations,' It, is, expected that on, account of ihe ..exchange advantage, most of ,th,e' imported, wheat .this year will, come from. 'Australia. The total brought in from Canada in 1930 was 117,000 bushels. , ' " During the week' a trial- shipment ofi flour, arrived in, Lyttelton from Australia;; . • •" .. :.>■ ' • Barley. ' The barley crop this year is disappointing, both in ' yield and qualitylue y proportion t of seconds ' is very heavy." Contracts with, growers were on" the basis of 4s 3d to 4s 6d a bushel, but' many contractors " have been ehort in their deliveries, Barley for stockteed ' has been landed 1 in Chrisfchurch from Australia. - ' . * The 1 demand - for' oats is • practically lifeless, *nd at the prices ruling fars mers are - stacking for : chaff, or to thresh if values justify it. Chaff is quoted at £3 on trucks, but ' there is very little enquiry. • Quotations. The following are quotations for produce to bo paid to farmers, >. on . trucks,. free of commission, sacks extra, except where otherwise stated:— Wheat (new season's: ' nominal) — .Tuscon 5s 3d on trucks. » Fowl 1 wheat 5s Id to 5s ljd, spread delivery; 48/116, f.0.b., , uats (new season's),r-Algwiawi, U ls lid. ' A ,2s ,W, B'b >' la "lid, 1 ' '**; '/ ' > 2a, malting , Hed J^on^inal). ' White Clover—7d [ Perennial 6d: ' : ' Italiaii ' 2idj:tOJ3d.; ' i y ; Bran-r-Locil,. fi&rdQa -a' doo, f.0.b.; shipping, extra* for entailer, backings., L > I Pollard —Local £6 5s a ton, f.0.b.; shipping; £& « ,ton; - f.0.b.; j 10s packings., .< % .' price, £l6 AGar a > with the, usual L increnientsfor.smallor packings. 1 • 'AUCKLAND. V: /. :* •"/ [VHB FBBBB J9p«e)ja Berrlce.l I AUCKLAND, March 10. ' , Th« pzio» of oats is steadily dropping, and '■.MdQotlon>pf »noth«r penny baa been node. ' B Gartens" am now' »vail*blo at' 8s 9d per t , store. i ChaS is unaltered at £8 j>«r ton. ■ jrowl lJf selling at Ca 9d to 6« lOd. Maize is unaltered' at 5s Sd, and the de* •> tnand. continues fair. i. Victoifian onions are celling at Is 6d to 8» per cvrt lower than FukoSohe. . wholeeale current prioea are:—pollard, £& i 10a per'ton; bran, £5 15a- per ton; oats, i Je#d B Gartons,3» 9d per btuiiel, A Gartcma ~ 8s iOd. clipped Duns 5s 6d, clipped Algert*an? fis,-, olippedy. Qaxtons 4* -6d; fowl wheat, 1 6a Sid' to &t loa per miiae. local 1 6> 8d per'bushel, ex etore; barley, feed ,4s i- .per bushel, seed Cape barlojr tis -per bushel; . ntaiao meal, 10a per -1001b; barley meal, W*; . per ton, Ble|thetm or Canterbury^, potatoes, £3 par V tmn,'.' ex atcrre £8 16a/ on tracks Pukekqhe, Manawatu. £B' 10a per ton; onions, 10a 0d per <wt «ac store, and ,9s 6d-On truck*, Puke- , feohe,. Viotoiia.-! 6a 6d> to Bs. l> „* 1 ' *> ' I '' MINING. ' ft' ir"? ) t ■ MAHAIhpAWA GOLBFIELDS, LTD. The' ot' Hahakip^Ava, Ooldftelda, adT|«e that word haa? y been received v tha.mlae sixana»er that dewaterlng has , been Completed and, mining operation* were fi resumed on .Monday ja»t. 1 ALEXANDER MINES, /LTD. " ' '' - } Th4"*4ip«fc'foe"j'sPebrttary is aa under:— '■ : No. (MoViear)—This level ' Is on a line ot reef- 807 feet > <froin, saa&afe."ihe> position of face' being now !. Oroaecut. The reef, track -is 8- frit carries one foot ot , solid ibout V 4 feet above tho ; ' Uoor * of, iml - ' iScKky Adit I**6l—Driving baa been eon-; tinn«d ,ta, »,p(»ta*j J»T.f&et' from surface. The lode baa att«owwl;in the fafce to 16 inoliea " in SridWk Average value 'ot the last 83 feet i "drifta" 70a, Hiohes. - " , ' , Winze Below Jpdfcnidlate Off McKay No. 1 Wlnie—SinWcg waa carried on to a depth' of r 80 ".feet beloV thr Inttemedlate; work was I' -then discontinued until a ,crosscut is put oat h northern end- of ;KoKay~main crosaeat; This atone appears to lie pitching north 'very-'fsat and ia alflf .afcowlnjr in the bot- )- tOm'ef tbe'wfitae.'V(klae ; 6ss,' width 24 Inches. - Stoning—Stoping is being carried on above MtfKay adit level,.and also above the inter- - mediate jO& No. jl Winae. .The lfedt mentioned r atones are very Inconvenient for working t on,-account 'of the small width and flatness l ' ofjthe 1 ofoj Battery—The mill crashed-272 tons for a "return of 82oz 7dwta, and 185 tona of aanda were oyanlded ,fot !48o* Bdwta of bullion. - Total estimated value £475 (exclusive of prem- - :iumi"on-)gbld which 1 will be approximately boo). *, i - ? TH$ METAL MARKETS.

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. There wasi a good volume of diversified ' business on call yesterday; and .price movements for the most part were in favour of holders. Transact tions, exclusive of vestibule J included:— I, ■ 200 Commercial Bank Australia. •100 Bank of New Zealand. I 100. Goldsbrough, Mort. • . 1 250 New Zealand Refrigerating i (10s paid). 400 New Zealand Breweries, 1 i- • 800 Tooths. .i 100 British-Tobacco. ; 100 Eectro. Zinc. (pref.). 200 Mt. Lyell. 90Q King Solomon. • 1000 Mahakipawa. ■ 100 -Waihi Mining. . .., Buyers of , the 4i per cent. Tax Free Bonds moved up t0.£94, without attracting sellers. , Commercial Bank /*' Australia were fractionally' firmer, with -buyers- and* business at' 15s '6d, sellers, at 15s 7d. Bank<of New Zealand wereJ firmer, - with dealings at} 48s. 9d, < buy-' ers staying in .at. that„ figure, sellers, at 495. Quotations for Australian of; Commerce,' Australasia, National Aot »Australasia, fullv' paid. • and ' Union Bank of Australia revealed stronger markets. Miscellaneous. Buyers of New Zealand Insurance advanced their offers to 40s 8d without attracting sellers. Goldsbrough t Morte hardened to 225, closing quotations 3d on either side. Dalgety and Company ■ buyers moved up to £7' 2s 6d.> sellers at. £7 ■ 15s. P. and •O. , Deferred • Stock was- stronger, with buyers at l ß4s,' ,no sellers. New Zealand Refrigerating Company, 10s paid shares, advanced to 2s 9d, and there were further buyers at that figure,, sellers at 8s Id. New Zealand Breweries had dealings at 3<B, market. closing 87s buyers. 37s 2d sellers. Staples ' Brewery .shares jwere. firmer, on Olivers' offers 83s 3d,' "at 37s 6d. ; Tooths Brewery shares fly-, vanped to dealings' at- 21s 9d and' 21s ltd. ' British Tobaccos eased to 29s Bd, sellers staying in at-that price, buyers ;at,29s 7d. ; Electrolytip Zinc nrefei;enc® shares' jumped *. r to' 17s 3d, closing nuotes 17s buyers.' 17s 3d sellers. Mt.; Lyells 'were firm, with - dealings at 20s . lid and 20s Jod. • New Zealand Drug?, hardened to.SQn buyers,. 60s sellers.' King Solomon changed hands at lß_»ia and Is Bd. and MaHakipawas at '"id. Waihi Gold Mining shares were i released at 15s 6d., ;

, tfUNEDIN. Sales Beported— ' ' " ' £ a. .d." Okarito • ■ . ... ... o 7,' 3' King .Solomon .0-I*B' » ' " / ', ' t PUKEMIRO COLLIERIES. INTERIM DIVIDEND. ITHl! passa Special Serrlce,]

AUCKLAND, March 10. At a meeting of the directors of Pukemiro GoUieries. Ltd.,' it was decided to pay an interim dividend of 5 per cent. The chairman, Mr J. Catchpole, said ,the coal industry .generally'waa passing through a very difficult period and. the company had suffered' in oomtoon with others from ; the l cut-throat competition that „ had been - in existence for some time now as well as the general economic depression. However, considering! the adverse conditions, the results fot 1 the half-year, had been very satisfactory* and the directors felt justified in declaring An interim dividend,, thoagh. it A* hrfSe a " y ]uS a basis^tl^ | * }. . H-'l f'Wi GRADING FIGURES. ' i - '■ Jc\' ' :}>•*' 'i .r. Yf y/" 1 v''" i,i / « ' V *}p'S^ " ; ' -T-twww ijwwcumir mmbwot.) k y i-.« t m■'V' i iWSIifihWB -1^ < WELLINGTON, March 10. , Tha Dairy Division "grading figures W fche aevenjaionths; ended February, 1931, show an increase Tfor butter of ,1.56 per oent. at 74,706 tons, and for cheet® an, increases of - 9.91 pef, cent, at 67,12 ft tons, a» compared witlr 73,555 toru» of butter and 61',205 tons of cheese in the corresponding period of the. preoodihg season: > , , Rediicod" to> terms?- of butter-fat. .equivalent, the grading of daii-y prodnce for the seven- ponths shows iui inorease of 4.15 cent.. over the' grading of the previous season. " t( ' * 'ip- 3 TARANAKI- OIL FIEtDS. 1 ) " s 1 1 * (nqus ISSOCUTIOS , ' . ; } GISBORNE, Marclf loi '. Taranaki Old', fields, Waitongi/No. at -1040-feet effective.., about 1100 feet is givjng sotiore trouble. Wo are now dndeavdurinj? to ntbd thnj.off. l NAPIER GAS POSITION. " ' Mr i" f , Logan,- ch»irma?v N»pi«*iiGM Oompsny, in an address to >■• in the Qomfcany,' h«d on* ITri&ay,' acknowledged thopraotical isynipatli'y. and substantia, .tephmcal the Gas ~ Association .JSealand, the' Wellington Oak 'Company, and Doi&din Gity'i Ooonpil. 'Oas. was already- heins to Hastings',, it was hotted to euboly Kapler before lone v ' -1T- V J •' The Dhairman.., recommended , "tha bala'nce-iheet he adopted,, and in view ot the very heavy expenditure Joompany would have face this i year, inL the way of erecting new plant, and/in view oft the general losses suffered,, thaf no further dividend be declared in respect of last 'year's operations. was, agreed,-that Mr Logan's recommendation .be adopted, with th? ,attendment.that it ..should -be .lett. to the discretion of we board as to whether, preferential -dividends.should be paid- and that the-appropria-tion to plant' replacement he casoeUed. :' .. The bajlance'sbeet showed \that, ,'notwithl- - the the company'.s re* -venue receipts reached £s7,Sit,.as compared with £58,494 for the previous yea>rran, in,crea«e of £lOl7. Thip inoreaSe was' sst;off, by inoreased expenditure, so that.net revenue for tho year was £9234',' an increase-in round figures of £SOO over. 1929. 1 ' , The manager Tteported that the', damage caused by the earthquake, was estbnatsd '«t, £29,963. 5 Against/ these: losses were to be credited earthquake insurances recoverable, which in Napier amounted to' £4657; andr inHastings to £5900. . ' /

''' - (Eeceived Matfoli 10th, 9.30 p.y.) s> V * * 1 1.0NDM0N, March lb. p ,\ Much. 5. March 10. [< , v 4 P«S ton per ton. — - £ s. d. £ «. d. ■ Sttfndwid,' ejrot .. ,« 18 9 , ''Standard. forward 46 8 9 '. C 9 ti 46' 0 ' 7J 3Electrolytic , .. ift. S 0 "to .. / .. — Wire baw t ,'.. :fi0 0. 0 - 48 JP o 49 10-0 '3 'Xjfladf:-'' ■,.< ' ■ „ ' J , t , ,»-.- - , _ 4>- Spot' ' ; h «W." 14- 2' 6, 4 ■ 13* 17-. 6 1 5 * 0" . 'Speltw-r. .tiX r> *> >A l ■> ' Bitot' - A 12 17 6 *Forward ,.' i3" 6' 3 -' 14 3 ,6 1 12 13 S 13 3'9 • + MS"-3 » rf Iforwaid '',• ■. 1?3"' 1 3 ,., Silv«pi-<- _ »«; t a 1 , ' .124 13 ' 9 17 i mffttap&k.vvi <&, .M4 • 19i4 1 tf; W. frCs i" *U\ ft"* 1 '* "

. LATEST QUOTATIONS Buyers. £ «. d. Seller"- £ e.d. N.Z. Government Debentures— 41 per cent. Inscribed, 1888 1 •• ». »3 " « 41 per cent. Inscribed, • 1989 .. .. 94 2 6 44 per cent. Bonds, 1938, 1939, and 1941 01 0 0, 5J per oent. Inscribed, 1932 .. .. 90 2 C 6i per cent; Inscribed; 1983 .. .. 96 » 6 64 per cent. Inscribed and Bonds, 198? .. 99 . 0 0 H per cent. Bonds, 1936 .. - 93 6 « ... vOther Debentures— Christchurch Drainage,. S& per cent. 1973 — 97 0 0 ■ Christohurph City, 64 * per. cent., 1960» ,..96 10 Q 97 9 0 Dsford County, - 5| per,« . [ / "■ '-SSL^ar 1 Springs-Elleemere Power, •' > •"* b.h- ■' . k 5g per • -HtfH 1 1 I Aust, of Commerce ' 0 16 8\' 0 W"'®. Australasia* (cum * wrj 9HP'0 , Comm. ol Aust, " 'i 0 U 6 'OjUfc'? Comm. of Au»t.\(pr»f0 . 5.18.0 Comm. of'• Sydnex, -14*15 0 16 6/0 E.,/ S., and:A," * .. 5 , 0 0 519 > 1 National of Australasia > ; (£W:4?aM>- „•.*. 10 7 ft- j National of Australasia s 1 1 ; (£S paid) .. .. 5 0 0 B 'S 0 Rational ofjN.Z. 1 - 4 19 0 — • NowSoUth Wales ' -2T 0 i», ■«; New Zealand .. . ' .. :*2 6 9 H? £-.0: New Zealand <D Mort-' gage shere«) .. 1 5 J — . TJnion of Aust. •• 8 3 1' 8 IS 0 Insurance — A.P.A. - ... 0 8 4 New Zealand ... ..208 South British » 9 13 0 Standard .. ..,-3 2 6 10 5,U 218 9 Loan and Agency—. , Dalgety and Oo. 7 2 8 716 0 Goldsbrough,- Mort .. 119 13 8 Mutual Benefit ...-10 10 p 11,15 0 N.Z. Guarantee Corpn.,0 6 6 0 6 8 N.Z. Loan Sad' * Sjer-; ' oantile .. 60 0 0 — .Permanent' Investment ' 9- $ 0. 10 0„ 0 United Building'Society ■ 0 1910 0 Iff 0 ShlptSng-r. , * f.*\ v, Huddart-Parker < (oum • .. dfv.)* .. .. 1 a 0 s P; and O. Deferred ' ' Stock .;•) 114 ff Union (pref.) - i. r 0 0 1 6, 0 , Frozen' Meat — / , N<iZ. Refrig. i(<£l aaid) 010 0x01$ 0 N.Z. Refrig. 80s paid) 0 2 9 0 8 1 North Canty* V?*ej*ing 0'. 2 6 0 5 0 WpoUena— Kaiapoi, (17s .paid) .. } 0 6 0 . 0' 8 11 Coal— • ' " t "Gwy -"Valley ' 1 ..'.Jo 12 «' Wistpo"rt > , >■ r, , 1 4" '1 lib ,15 0 0#®— ' ' ' f ' Christchurch .T 4 • 4 ■ Christohurcu (10s paid) 0-10 10 Timaiu .. *.. „ — 1! $ ' 0 0 11 & H' 3 6 Breweries— \ Carlton <• ..lis .Foster's - ... .. ' ; —' i MonteithV . .. .. '• Q 6- 0 New Zealand 1 .. ./117 0 Staples * ,~i .. 118 8 Timaru (5s paid) ... 0. 4 & Tooheye ..' x .. ' — Tooths • ' .. , .. 1 1", « White Star 16 0 35 0 0 18 6 117 2 ,1 17 e, '0! 6 0 0,18 0 13 0 0 t 12 0 Miscellaneous— , V Allied Motors .... 0 Oil Ataalganuted. ' Wireless, (contr.,' cum ■. <liv.) 0 13 6 'Australian Distillery ... — Australian Glass 15 8 Beatk. and' Co. > ,,, - 1" 2 0 Beath' and Co. (la paid)-' 0 2 0 ' British Tobacco: .. 1 9 7 Colonial Sugar " y . T * 80 5 0' ! .D.I.C. .<10s" paid) .. 0 13 6 D.I.C. (pref.) 0 16 6 Dunlop Perdriau Rub- ' , * ber'" > .. ., * - — ■ Electro. Zino (ord.) .. 010 0 EUectro. Zino <pref.) .. 0 17 0 Glenmore Brick . and -Tile. .. /— . \ Milburn Lime .. 1' 3 0 Mt. Lyell .. 1 0 10 - N,Z. Drug Co; (cum ,div.) , ... v ... 3 16 0 : K.Z. Farmer#' Co-op. ("B" pref.) ' N r N.Z. Farmers' Co-Op. * ' - <64 per cent,' Stock, 1940) . §1 0 0 ■ W.Z.' Parpiers* - Co-op, (64 per cent. Stock, , 1945)' ./ "i. .SO 0 0 N.Z. Paper Hills .. — Quill,' 'Morris' "<> " Whitcombe and Tombs 2 IB 0 Wilson's Cement ,. 1 / V) a "Wunderlioh '.. , ,. 0 7 0 Eural Bonds, 5 ,per cent., 1947 ' .. ' — K.Z. Sugar of Milk (pref.) .* . .. o<''4, 0 .0 110 1-3 6 1 0 0 r 6 9 "16 6 0 4 0 19 8 34- 0 0 • 0 10 .0 0 14 0 017 & 0 18 6 " i"o 11 8 0 0 1_10 0 68 'O-O 0 18 6 0 10' 0 3 18 6 'Jt, 0 0 ft 171 0 91 0 0 017. 6 Mining— s * Alexander . — 010 0 .'Cdrnish Eoint 0.10 lj _ King'Solomon " .X O 1 74 0 18J ' HahakipdWa .i - • 0' 0 T '0 0 74 Mahakipawa (pref,) 0 0 7J 0 0 9 Okarito .. .-r- p 7 3 0 7 4 Stoney Greek (7Jd pd.) t- .. *0 0.1 ■ Waihi ■" .. - .'.V 0.16 ,6 Waihi : Grand Junction' 0 3 80.2 Wpjdingr Ojseek {la-pd^v

YESTERDAY'S SALES. CHRISTCHURCK Sales on 'Change— . Commercial Bauk of Australia (2) Bank of New Zealand (2) Goldsbrough, Mort . ... N.S. Refrig. (10s paid) . New Zealand Breweries (4) Tooths Brejvery ■ (4) British Tobacco ... ■... Electro. Zino (pref.) • 1 ... Mt. Lyell ... King Solomon ... ... (2) . M.ahakipawa ... (2) Waihi ... , Sales Reported— Tooths Brewery , Mt. Lyell ' £ a. d. 0 15 6 2 8 9 , 12 0 ' 0 9 1 17 0 .1 1 9 19 80*17, 3 1 0 11 0 1 81 0 18 0 0 74 0 15 t . 6 1 1 11 1 0.10 AUCKLAND. . Sales on 'Change— , National Bank of N.Z. National. Bank of Australa- . flia (£5 paid) , Bank, of New Zealand , . Auckland 'Gas -N.Z.'- Insurance . ( .. rSouth? British 1 Insurance ., Wftstport 1 Coal *. N:Z. - Breweries 'Grey... .and,' Menzies '(pref.) Moanataiari Mining Moanataiari Mining (1? 6d paid) King Solomon ,, f s. 5 0 5 2 2 8 1. 3 2 0 2 12 4, 1 17 0' 9 0 1 0 0 0 1 0 1 cL »' 6 9 ' 3 ,6 3 0. 0 ' 9: 4s 6 8 7i WELLINGTON. Sales Reported— a... 6 * 0 I*: 6' 6 Bank of ' New 1 South. "Wales (2) " Bank-:of New> Zealand' ... Tooths Brewery ' Wilson's -Cement Waihi South' British Insurance - £ ; . S.'-' 27 0' 2- 8 1 2 1 19 0 15 2 12