COMMERCE AND FINANCE

Otago Daily Times, Issue 24416, 30 September 1940, Page 2

COMMERCE AND FINANCE

TRADING BANKS THE AUGUST RETURNS REDUCTION OF ADVANCES Returns of the six trading banks doing business in New Zealand as at the close of business on August 26, compared with returns for July 29, 1940, as furnished to the Reserve Bank of New Zealand, are as follows; LIABILITIES

Totals .. .. £101.610,817 £101,807,019 * Includes transfers from Bank of Zealand Long-term Mortgage Fund of £397,555. Aggregate uncxerciscd overdraft authorities:— 1940. £ July 29 29,647,402 August 26 30.116,734 OVERSEAS FUNDS Overseas assets In respect to New Zealand business held by the banks in London and elsewhere than in London at the end of August for the past three years were as follows: —

£15.540,214. EXCESS DEPOSITS Deposits, free and fixed, at July 29, 1940, and August, with advances and discounts, were as follows; . . _■ ■ July 29. August 26. £ £ All deposits .. 79.167,944 79,700,796 Advances and discounts ~ .. 46,101,507 45,378,588 Excess deposits £33,066,437 £34,322,208 Excess of deposits over advances as at the end of August tor the past three years were as follows; — A ,S' St ’ 8,719,242 iq'jq 13,990,199 1.940 !! 34,322,208 The position of deposits and advances as at August, 1939 and 1940, was as fol-

Government securities held in New Zealand for the period ended August 28, 1939, amounted to £10.250,982; for August 26, 1940, they amounted to £16,001,399. PROPERTY SALE

R S. McKenzie, Ltd., report having sold allotment 8, block 47, township of St. Kilda, a square house, owned ana occupied by Mr and Mrs R. W. Rodgers. 49 Young street. The reserve was not reached It auction, but the property was later sold to one o£ the bidders.

FRUIT AND PRODUCE WORLD

Reilly's report selling.Per Dozen.-Eggs: Super, Is 6d; standard, Is 4d; medium, Is 2d Carrots. Is. Parsnips, Is. Lettuce. Is Mto2s 6d choice, to 4s 6d. Asparagus, 22s to 265. Narcissi: Trumpets. 2s to 4s. Hyacinths, 6d to 2s 6d. Irises, 6d to Is. Each.— Champion egg crates: 24-dozen, Per Half-case.—Pears: Winter Cole and Winter Nells, 6s 6d. Island tomatoes, 12s, 15s Per Case.—Australian and N.Z. lemons: Market rates. Australian navel oranges: Market rates. N.Z. grapefruit, 10s to 12s. Bananas: Samoans, to arrive. Pears: Winter Cole and Winter Nelis, 13s. Apples: Extra fancy and fancy Delicious, 9s 6d to 10s 6d; Cleopatras. 8s to 9s; Stunners, 9s 6d to 10s 6d. Granny Smith, 8s 6d to 9s 6d; commercial grades, 7s 6d to 9s; cooking apples, 8s 6d. Queensland pineapples, 22s 6d to 295. Spring cabbage, 3s ' Per Pound.—Rhubarb, 2|d to 3d. Niue kumeras, 4Jd. Whitebait, 2s 6d to 4s 6d. Artichokes, Id. Butter: Storekeepers', Is Id; bulk, Is 2d. Bacon: Prime. Is 4d. Clover honey, BJd. Beeswax, Is 6d. Walnuts. 8d to lOd. Per Bag.—Cauliflowers, 6s to Bs. Savoy cabbages, 2s to 3s. Per Cwt— Onions: Canterbury, 14s to 15s. Potatoes: King Edwards, 4s; Whites, 2s 6d to 4s. Lime sulphur, 3s 9d gallon. Restar: Jgallons, 4s 6d. Semesan: lib 8s 6d. Red Rose nicotine sulphate: 101 b 455. 21b 15s, lib 8s 6d, Jib ss. D.P. Derris for white butterfly control: lib tins 2s 3d. 101 b tins 15s. . Fowl wheat, to 6s 9d; second grade, 6s. Maize, 7s 6d. Oats: Gartons, 4s 6d per bushel. Crushed oats, 12s 6d. X Keys meatmeal, 15s per bag. Oyster grit, 6s 6d per bag. Bran, £5 10s. Pollard, £6 15s. ChafT: 8.0.5., £6 5s to £6 10s. Oaten straw, £4 10s. Clover hay, £6 5s per ton. Palmer's chick food, 21s 6d per 1001 b. Per Pair.—Poultry: 191 cockerels at Is to 7s Bd, 76 hens at 6s 2d to 10s 6d. 43 pullets at 3s 6d to 12s 6d, and 4 drakes at 12s. REILLY'S CENTRAL PRODUCE MART, LTD., Moray place, Dunedin, C.l.

MERCHANDISE MARKET IMPORTED LINES PROHIBITED Importation of salt in packets of less than 51b is now prohibited for the fifth licence period. Up till now there has been no restriction on the importation of this line. Importations of macaroni and vermicelli are also on the 100 per cent, restricted list. ~ . . . . Clothes pegs are another line which is on the 100 per cent, restricted list. Increased Prices Latest lines to show an increase in price are methylated spirits, Morton s capers, Khadrawir stoned dates, and dressed rice. Safety Matches A small parcel of Australian safety matches has just reached the market. Sugar Supplies The Waiana and the Waipiata are due this week with supplies of sugar. Christmas Hams New season's Christmas hams are now being quoted, the price being Is 2Jd per lb, an increase of id per lb on that ruling for Christmas hams last year. Wholemeal Flour A new line of wholemeal flour, in 21b bags, has made an appearance on the market. COMPANIES REGISTERED The Mercantile Gazette notifies the registrations of the following companies:— Transport (Dunedin), Ltd. Registered as a private company on August 27. Office: 20 Manse street, Dunedin. Capital: £SOO in 500 shares of £1 each. Subscribers: Dunedin, F. Goodwin 250, A. G. Spiers 250. Objects: To carry on business as carriers of all tvpes of goods and merchandise. Dunedin Taxis. Ltd. Registered as a private company September 2. Office; 174 Princes street, Dunedin. Capital: £5500 in 5500 shares of £1 each. Subscribers: Dunedin—A. E. Gardner 1. W. H. Newall 1, H. Berland 1, H. D. Tennant 1, A. G. Hunt 1, R. J. Cook 1, H. B. Power 1, South End Taxis, Ltd., 2822, Roslyn Taxis, Ltd., 2671. Objects: To carry on the business of taxi and motor proprietors in Otago. Mosgiel Taxis, Ltd. Registered as a private company September 12. Office: 7 Wycliffe street, Mosgiel. Capital: £IOOO in 1000 shares.of £1 each. Subscribers: Mosgiel, W. Kingan <;500, A. McLean 500. Objects: To carp- on the business of taxi cab proprietors in Mosgiel and elsewhere. H.B. Publishing Company, Ltd. Registered as a private company August 28. Capital: £7500 into £1 shares. Subscribers: Waikouaiti, E. C. Huie 500, F. D. Huie 250; Waipukurau, A. M. Johnstone 200 J. D. Todd 200; Waipawa—C. Pattison 200 G. F. Mcl-lardy 500, D. G. McHardy 500; Oreka, J. N. Lowry 500; Hastings — H W Abbott 500. D. J. McLeod 100, J. Holt 200, J. Campbell 100, A. J. Field 100. H H. Wvlie 50, D. J. Holden 500, M. Greenwood 250, R. Harding 200, A. F. M. Svmes 100, J. Wellwood 200, F, S. Candy 150; Wairoa, H. Bayly 500, H. M Bayly 500' Okawa, H. C. Lowry 200. Objects: To carry on the business of publishers and newspaper proprietors.

July 29, Aug. 26. 1940. 1940. £N.Z. £N.Z. Demand liabilities ♦48,831,125 in New Zealand 48,422,650 Time liabilities in 30,869.671 New Zealand .. 30,745,294 Demand liabilities elsewhere than in N.Z. incurred in respect of 2,878,111 N.Z. business .. 2,829,067 Time liabilities elsewhere than in N.Z. incurred in respect of 136.020 N.Z. business .. 155,976 N.Z. business excess of assets 19,092.092 over liabilities 19,457,830 Totals .. . • £101,610,817 £101,807,019 ASSETS Reserve balances held in Reserve Bank of New 17,521,920 Zealand .. ■ • 16.737,035 Overseas assets in respect of New Zealand business— 13,394,842 (1) In London 13,777.422 (2) Elsewhere • 1,762,792 2,127.048 Gold and gold bullion held in 387 N.Z — Subsidiary coin 699,883 685,989 held in N.Z. .. Advances in N.Z. 45,903,571 45,191,765 Discounts .. .. 197,936 186.823 Reserve Bank of N.Z. notes 4,258,335 4,424,007 Securities held In New Zealand— 16.001,399 (1) Government 15,992,378 (2) Other than 390,599 Government 392,689 Value of land, buildings, furniture, fittings and equipment held in N.Z 1,888,766 1,882,240

London. Elsewhere. Total. August, £ £ £ 1938 .. 5.835,691 2,895,691 8,731.382 1939 .. 4,347,966 1,492,159 5,840.125 1940 .. 13,394,842 2,127,048 15,521.890 Total funds for July, 1940, were

lows Aug., 1939. £ Aug., 1940 £ Free deposits 37,366.662 48,831,125 Fixed, deposits .. Advances .. 20,040,758 30,869,671 52.777,116 45,191.765 Discounts .. . • 640,105 186,823