COMMERCIAL ITEMS

Dominion, Volume 21, Issue 128, 28 February 1928, Page 12

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At yesterday afternoon's call ot the Wellington Stock Exchange sales were reported of lluddnrt-Parker (ordinary) at £2 Us. (t-uiii. dividend), ami WestportStockion (ordinary) at Is. 3d.

SALES IN OTHER CENTRES BY ['EfiEGIUPU I’llflf AFSiH'tA nox Christchurch. February 27. Gales.- Bank of Adelaide. £9: Bank of New Zealand, 595; New Zealand Breweries. 425. 6d.; Mount Lyell, 365. 6d.; Dalgety and Co.. £l3 14s. (Melbourne register). Sales Reported.—Commercial Bank ol Australia. 275. 8d.■ South British Insurance, 58s. (two parcels’; Stockton t’oal (ord.). Is. 3d.: Stanley Brewery. 375. 4d.: Dalgety and Co. (Melbourne register). .£l3 Dunedin, February rl. Sales Reported.—Bank of New Zealand. 59s • South British Insurance, 585.; "Otago Daily Times." Ms. (two parcels). Auckland, February 27. Sales.—National Bank of New Zealand, £6 195.; Bank of New Zealand. 595.: Auckland Gas (con.'. 16s. 3d.: New Zealand Breweries. 425. 4Jd-; Whittome Stevenson, 465. 6d.; Ohinemuri. 7s. THE BUTTER MARKET The export of butter from New Zealand naturally shows a decline at this time, for the peak of production has been passed apart altogether from the effects of the warm weather upon output. As production decreases the market muse firm unless supplies from another source should make good the deficiency, but at this time of the year there is no such prospect. Consequently, producers may reasonably look for an upward movement in prices: although that improvement may not be quite so big as .anticipated Still an improvement will be welcomed, and on the whole the season .should prove a profitable one to dairymen, what is to happen in the next season is Prols tematic.nl. It is clear that New ~ealand will lose the Australian market after ■lune, for she will not be able to face the Australian duty of 6(1. per lb. Dewover Australia was never a reliable market for New Zealand butter, but it did heln to clear some of the surplus. NowZealand producers will probably get along without the Australian market, and find scope tor their energies in quite another direction, poss-.l'ty in Canada an 1 the United States. The latter conntry with its growing population. m’? s £ e-b further afield for its supplies. Y ,,h respect to the use of prerervativys. there is no reason for fear, because New Zealand dairymen generally -tnnv t.ie art. of producing butter without -. csorvatives and will meet the requirements of th« English market without any trouble NEW USE FOR COAL ’Hie offer made by a syndicate to the Flutt Valley Gas Board to supn’y it p»a 3 at a price copsidcmbly that at which it could ''e either factured or purchased in bulk, is ot FfiCcial importance The scheme mvoncs a treatment of inferior coal, and narticularlv lignite, but .he plant for the conversion of this coal into, a Tnnrkcrabie commodity is very expensive. The material gain to the community is tne * stn .„ lishnicnt of a new industry which will lie far-rea?hing in its effects. Smokeless fuel, cheaper, coke, etc., will help the eom*miinity, and give a chance to our iron and steel industries to develop. mere are also the by-products of coal, such a a sulphate of ammonia, and other manurial products, for which there is bound tn he a good demand. The e»tahlishm« nt of such a scheme will give a push *o the Hutt Valiev, and incidentally help in the growth *of Wellington. WOOL AND SILK Not. so many montns ago it. was main tained in some quarters that artificial silk would be a menace to wool, and would be a drawback to wool prices, but those who expressed this opinion bad no idea of the growing importance of artificial silk. Artificial silk was to be a substitute for wool, and no doubt it will be in time. In the meanwhile the production of this (Dire is apparently not equal to the demand, judging by the results obtained bv Court.nneas. Ltd. Pins firm has done so well that, it has Presented its shareholders a bonus share of 100 ner <-ent and in adidtion a dividend ot 35 per cent. There is no chance of using the nrortuct of this company as a sum stitutc for wool, for there is a demand for a "-1-eat deal more than it prodtw-es. It seems that artificial silk has helped rather than hindered wool. for it is rather significant that with the advance in artificial silk the nrice of wool has advanced stmnltaneonslv As a matter nf fact, wool was never nt a higher nricc than this season' while artificial silk is in increasing demand. While this c*) 11 / linues there is little chance of artificial silk becoming a substitute for wool. PRICES OF ’fETALS. (Bee. February 77 7.5 n.m.) London, February 26. Conner.—Standard, on spot. £6l ts ; 10*rl.: forward *'6'l 16s. lO’d.: eloetro’vtic. £66 1- and £66 155.: wire bars £66 15s. Lead. £2fl and rap 3<t Sn-dter £25 in 'mth positions. Tin £227 t 8« 9d. and £230 12s. 6d. siber.-Standard. 263.1 : tine 28 5-16 d. an ounce CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled C .*,872.

The hi test quotations are as Buyers. follow Sellers. N.Z. GOVT. LOANS— Al s. d. £* s. d. 41 p.e. Ins. Stk., 1939 !h 0 —— 41 ii.o. d.'tto, MBS ... 97 6 — 5J p.e. ditto, 1933 ... —- 1(11 0 0 3$ p.e. ditto. 193G .... — 101 0 0 .-,J p.e. ditto, 1911 ... —— 99 5 0 4* p.e. Bonds, 1939 .. 97 2 (I — 4* p.e. ditto, 193.S ... 97 » 6 —— 51 p.e. ditto, 1933 ... 101 0 0 debentures— Wellington Gas ....100 0 0 101 0 0 N.Z. Breweries (bonds) — J 4 0 Wanganui City, nJ p.e. (1945) l°0 0 0 —- BA NKS— 19 Australasia (cum. div.) 14 0 — Commercial of Aust. (ord.) 1 7 9 Ditto (rights) - — 0 6 National of N.Z 0 19 0 —— New Zealand 2 IS 11 19 4 Ditto “D’'shares (pd.) 1 G 3 14 —- Union of Aust — l.j C Fl NA NCI AI— Dalgety and Co — 13 16 0 Abraham and Williams (pref.) — 9 4 7 6 Goldsbrough Mort .. - 8 N.Z. Guarantee Corp. (ord.. 8s.) — 0 9 0 Ditto (pref.) 1 1 0 — N.Z. Loan and Mere. (ord.) 90 0 0 N.Z. and It Ivor Plate 1 0 —• Well. Trnst, Loan .. 6 13 6 — GAS— Wellington lord.) .. 1 0 — Ditto (pref.) 0 10 a —— INSURANCE— National —— 0 io 3 New Zealand 2 0 G 1 South British 2 17 9 — MEAT PRESERVING— Goar — 1 17 « N.Z. Refrigerat. (IDs.) —. 0 10 Well. Meat Exp. (ord.) 0 9 9 TRANSPORT— Union Steam (pref.).. 1 0 0 — llnddart-T’arker (ord.) (cum. div.) — 10 0 Ditto (pref., cum. div.) 1 1 0 ?48 *— P. and O. def stock.. — 0 0 WOOLLEN— . Wellington (ord.) ... ■—■ (i 1 0 COAL— West port-Stockton (ord.) 0 1 0 — Ditto (pref.) •— 0 3 6 TIMBER — Taupo Totara —— 0 12 9 BREWERIES— Staples and C.o .... 1 17 3 —• Till — 10 0 MISCELLANEOUS— C. M. Banks (ord.) .. 1 *> 0 —- British Tobacco (Aust.). 19 (ord.) 1 Dental and Medical 8 0 0 Supply — 0 16 0 D.LC. (prof.) 1 0 G — N Z Farmers’ FortHiser 4 0 0 N.Z. Paper M’>; .... —— 0 Sparland and Co. (ord.) — 1 0 6 Taranaki Oil Fields .. 0 9 (1 —