COMMERCE AND FINANCE

Otago Daily Times, Issue 19994, 11 January 1927, Page 7

COMMERCE AND FINANCE

WELLINGTON WOOL SALE,

GOOD COMPETITION EXPECTED.

:rossbred mostly offering. (Special to Daily Times.) AUCKLAND. January 10. The third of the series of Wellington wool sajes will begin in the Town Hall at 7.30 p.m. on Wednesday, and will be concluded on Thursday. A total of 27,131 bales will be offered. The catalogues provide a very fine selection of wool and, therefore, keen competition is anticipated with advances for certain classes of wool. The sale at Christchurch last week was 1 very successful one, but it must be remembered that the bulk of the Canterbury offering would consist of halfbred wool, while in Wellington the bulk of the offering is crossbred for which the demand is not quite so keen. Nevertheless, the cheapness of crossbred is proving attractive to continental operators, and wo may expect to see them buying freely.

SYDNEY WOOL SALES. (Press Association—By Telegraph—Copyright.) SYDNEY, January 10. (Received Jan. 10, at 10.30 p.m.) The wool sales resumed with the market firm at last week’s closing rates with a hardening tendency ior fine sorts. Hie demand was general in all sections, and Japanese and Americans are particularly active. GRAIN AND PRODUCE REPORTS. Messrs Dalgety and Company (Ltd.) report as follows: — Oats.—This market is still very quiet, with no business passing. Merchants who are holders of stocks in store are endeavouring to dispose of these, but are not meeting with any success. The demand for oats from the North Island is negligible. Nominal values are: A Gartens 2s 9d; B Gartons 2s 6d per bushel, on trucks. Wheat.—Stocks of fowl wheat in the city are not plentiful, and any nice lines of good whole coming to hand can be disposed of up to 7s 6d per bushel, ox store, Backs extra. . Chaff.—The quantity coming forward is on the light side, but as local feeders are holding fair stocks the demand is not hard to fill. No shipping demand is being experienced, the North Island being supplied in the meantime from Only prime lots are meeting with any inquiry, medium and inferior qualities being very difficult to dispose of. We quote; Prime oaten sheaf £5 10s per ton, sacks extra. Messrs Donald Reid and Co. (Ltd.) report as under: — Oats.—There is little to report on Hus market, few sales having Peen recorded during the holidays. Buyers are waiting for the new season’s offerings from Canterbury, which are due at any time now. Merchants are anticipating opening prices to be in the region of 2s 6d. Nominal values at present are 2s 9d for A Gartons and 2s 6d for B Gartons, 0.T.C.b.., sacks extra. , Wheat. —Reports from the north snow that the crops are all in splendid order, but owing to the present price of Australian flour, very little forward business has been done. Farmers are offering their, wheat at from 5s 9d to 6s, but millers would require to obtain supplies at 5s 3d to compete with the imported flour. Fowl wheat is in demand, and 7s 6d ex store, sacks extra is the present ruling rate. Chaff.—This market_ is also quiet. Very little has been coming forward, but to counteract this, there are practically no inquiries. Good oaten sheaf is worth to £5 IDs ex truck, sacks extra. Medium and inferior grades are quite unsaleable. Potatoes.—The market for old potatoes has closed and buyers have turned their attention to the new crop. No reported business has so far been transacted in this locality, but looal new potatoes are bringing up to 2d per pound, cases extra. TRADE RETURNS. DECREASED EXPORTS. DIMINISHED SPENDING POWER. (Special to -jaily Times.) WELLINGTON, January 10. The trade returns of New Zealand for the 12 months ended November 30, 1926, show that the exports were valued at £46,257,565, as compared with £56,560.255, a decrease of £10.302,860. The imports for the 12 months totalled £50,145,24a against £52,324,472. being a decrease of £2,131.254. The balance of trade is ns under: — 1926. 1925. Exports £46,257, c 65 £56,560,253 Imports ... 50.143.218 52,324,472 In 1926 the imports exceeded the exports by £3.885,853. while in 1925 the exports exceeded the imports by £4.235.762, eo that on the 12 months we were to the leeward by £8.121,614. The contraction of spending power within the Dominion is the probable cause of unemployment. The imports are shrinking, but the shrinkage must be very much greater before the balance of trade is in our favour. DAIRY PRODUCE. The National Mortgage and Agency Co. of Now Zealand (Ltd.) has received the following cablegram from London: Butter.—l72s to 1745: stored, 1665. The market is quiet. Cheese.— White, 93s to 91s; coloured, 94s to 955. The demand is fair. THE SHARE MARKET. DUNEDIN STOCK EXCHANGE The Dunedin Stock Exchange resumed after the Christmas holidays yesterday. St. Bathana considerably decreased in value, a parcel changing hands at 8s discount Bank of New South Wales were much better, buyers offering £46 10s. Sellers, however, demanded fl more. Kawaraus were in demand at 3s 2d, sellers asking 3s 6d. Electrolytic Zincs improved, buyers of the preference issue offering 38a 6d. , . , Sale: St. Bathans (A issue), 8s disc. ; The following are yesterday afternoon s buying and selling quotations, which are subject to the usual brokerage: BANKING. Bank of New South Wales —Buy £46 10s sel £47 10s. . Bank of New' Zealand —Buy 595, sel 59s Commercial Bank —Buy 325, sel 335. National Bank— Buy £6 18s 6d. National Bank of Australasia —Buy £lB 3s National Bank of Aust. (cont.) —Buy f9 E 2 Si and A. Bank—Buy £8 6s. Union Bank—Buy £ls 3s 6d. BREWERIES. N.Z. Breweries, Ltd. (ex div)— Buy 525, sel 535. , _ N.Z Brew. (Ltd.) Debs. —Buy 2os. Staples—Buy 37s 6d, sel 38s 3d. INSURANCE. National Insurance Co. —Buy 745. sel 755. N.Z. Insurance Co. —Buy 375, sel 37s 9d. South British Insur. Co. —Sel 575. Standard Insurance Co.—Sel 58s 9d. SHIPPING. Huddart, Parker (ord.) —Sel 48s. Huddart, Parker (pref.)—Buy 20s Bd. P. and O. Deferred Stock—Buy £240, sel. £246. U.S.S. Co. (pref.)—Buy 19s Od. COAL. N.Z. Coal and Oil —Sel Is 6d. Westport Coal Co. —Sel 365. Westport-Stockton (ord.) —Buy Is, sel Wcstport-Stockton (pref.)—Sel 3s. LOAN AND AGENCY.

Goldsbrough, Mort— Buy 48s Cd, s«! 49s <u.

LOCAL AND OVERSEAS MARKETS.

N.Z. Loan and M. (ord.)—Buy £95. Perpetual Trustees—Buy 60s. Trustees, Executors, and Agency—Buy 58s. Wright, Stephenson (ord.)—Sel 235. Wright, Stephenson (pref.)—Sel 17s. MEAT PRESERVING. N.Z. Refrigerating (pd.)—Buy 14s 6d, sel 15s. ■ N.Z. Refrigerating (cont.)—Buy 6s 6d. MISCELLANEOUS. Auckland Amusements Park—Buy 5s prem. Brown, Ewing (pref.)—Buy 20s 6d. Bruce Woollen Co.—Sel 19s. D.X.C. (ord.) —Buy 9s prem. D.I.C. (pref.)—Buy 20s fld. Dominion Rubber—Sel 40s. Dunedin-Kaikorai Trams—Buy 345. Eclipse Petrol—Sel 13s. Milburn Lime and Cement (rights) Buy 2s, sel 4s. M'Leod Bros. Soap—Buy £25. National Electric—Sel 18s 6d. N.Z. Drug Co.—Buy 71s. N.Z. Express (ord.)—Sel 235. N.Z. Express (pref.)—Buy 17s. N.Z Hardware (ord.)— Buy 4s 6d. N.Z. Paper Mills (ord.)—Sel 19s. Wilsons (N.Z.) Cement— Buy 33s 3d. MINING. Kawarau G.M. Co.—Buy 3s 2d, sel 3s 6d Nokoraai— Buy 4s 9d prem, sel 6s prem Waihi—Sel 18s Cd. . W..ihi Grand Junction— Buy Is 6d, sel Zinc (pref.)—Buy 38s 6d, sel 39s 6d. , _ _, Electrolytic Zinc (ord.)— Buy 37s 9d. Mount Lyell—Sel 28s. Mount Isa—Buy 21s. 0 . _ St. Bathans (A and B issues)—Sel 5s Upper Nevis—Buy 5s prem, sel 7s 6d Pl ßig Beach—Sel Is 6d prem. WAR BONDS. 44 per cent. Bonds, 1930—Buy £97. 4i per cent. Bonds, 1938 Buy £O6 12s 6d 44 per cent. Bonds, 1939—8uy• £96 10s. 5J per cent. Soldiers Bonds, 1933—5 el per cent. Inscribed, 1938—Sel £97. 5 per cent. Postal Bonds, 1927 Buy £9B. 5 per cent. Postal Inscribed, 192 1 —Buy £9B 5i per cent. Bonds, 1930—Buy £IOO 10s. NORTHERN EXCHANGES. (Peb United Pbess Association.) The following business was done on ’Changes yesterday:— Auckland—Sales: Northern Steam (cont.), 6s 6d; Milne and Choyce Debenture Stock, 24s 3d; Alburnia, 3s 6d; Moanataiari (cont.) , 6s 3d. ‘ Christchurch.—Sales: Goldsbrough Mort, 49s (two parcels); Western Australian Bank, 54s 6d. ____