COMMERCIAL

Hokitika Guardian, 19 March 1932, Page 5

COMMERCIAL

''By Telegraph—Per Press Association)

AUCKLAND, March 18.

Sales: N.Z. Breweries 23s 9d; New Zealand Insurance 37s ; Bank of New Zealand 42s 6d ; National Bank of ■Australia £4 16s; Commercial Bank 13s lOd ; Bank N.B. Wales £24 17s 6d ; Loan 51 (1937) £97 ss.

•SYDNEY QUOTA TONS. SYDNEY, March 17. Wheat, neglected ; ex-trucks Sydney 3s OV, country stations 2s s£cl. Flour 200 s, pollard 100 s, bran 85s, potatoes, Tasmanian £lO 10s, Victorian •68 10s; onions, Victorian and New Zealand £ls; oats 2s 6d • maize 3s lOd. BANK RATE STILL LOWER. LONDON, March 17. The bank rate has been further reduced to 3.} per cent. The City to-day received a welcome surprise, when the further reduction of bank rate, the third within a month was announced. The rate is now back to the level of July last year, before flic world monetary disturbances were beginning to be seriously felt. Today’s reduction was enthusiastically received, and 'was considered as a farther welcome of the move to help trade recovery. Coming <as soon after the. announcement of the Treasury s £116,000,000 conversion offer to Treasury bondholders, the reduced bank rate naturally stimulated the whole market for gilt-edged stocks, and a cheerful tone developed in other sections of the Exchange.

RRuDUCE BRICES

Messrs \Y. Weddel and Co. Ltd., London, under date 16th. instant, advise as follows:

Danish butter, 120 s per cwt; N.Z. finest grade butter, 107 s to 109 s per cwl ; Kangaroo 101 s to 104 s per cwt. Butter market quiet. N.Z. cheese, white, 60s to Gls per cwt; N.Z. cheese, coloured, 6.1 sto 62s per cwt. Cheese market quiet.

WATAROA AUTUMN SALE.

Yesterday at the Wataron Yards il.c ii.suiill aid im;n fixture was held when an entry of 296 head of cattle, 74 I n't wethers’ 20 fat ewes and three floras were penned. The lulal was considerably below that of former years but was nevertheless ample for the demand (pending, in fail outside the cattle sections there was no competition for -■beep or -horses.

The 'South Westland entry of cattle was yarded in very good condition and wore well sought for. While no big cattle were in evidence similar 'to previous entries those submitted sold well up to prices obtainable at the largei markets of the province. W. Jeffries and Co. report their entry of 149 cattle were all sold at quite satisfactory prices. The following sales were recorded:—

On (account G. Bannister, 7 18 mos. steers at £3. 7 18 mos. heifers at £2 17s 6d, 1 light cow at £3 7s 6d. 0" account Harris Bros. 9 two year heifers mt £4 7s 6d. (hi account ■). A. Mulvaney 13 Hereford sneers passed at £7 10s (.subsequently -sold privately at £8 10s). 12 steers at £6 12s 6d. On account of G. lievehlt 10 18mos. steers at £3 15s. On account 'K. (Iron's estate 36 2 year steers from £5 12s 6d to £6 ss, averaging £6 ; 34 2 year boilers f,x, m £4 'ss to £4 7s 6d averaging C 4 6s; sundry odds oowr, Ivoin £3 7s 6d 4o £5.