Markets and Money

Sun (Auckland), Volume I, Issue 302, 13 March 1928, Page 15

Markets and Money

GERMAN SHIPPING BIG INCREASE IN PROFITS j v Cable. — Press Association. — Copyright. BERLIN, Sunday. The extent to which German shipping shared in the general prosperity of the country during the last two years is shown in the North German Lloyd Company’s report. This states that whereas the net profit in 1925 was £2.900, it increased in 1926 to £400,000 and in 1927 to £550,000. An 8 per rent, dividend lias been declared.—A. and N.Z. SOUTHERN EXCHANGES TO-DAY’S SALES Wellington. Reported: Wellington Woollen (ord.l, £6 2s 6d. CHICAGO WHEAT By Cable.—Press Association. — Copyright. CHICAGO. Monday. Wheat—March. 1 dollar 36 7-8 cents a bushel May, I dollar 368 oents July, 1 dollar 341 cent.—A. and N.Z. HIGH COMMISSIONER S CABLE Under date March 9 the High Commissioner for N*rw Zealand, stationed, in Umdcn, cabled as follows: — Tallow No auctions this week, but large sales reported of afloat parcels. Spot quotations ibout same as last week. Hemp The Manila market is easier. Fair busin< ss has been done at lower prices, h ut the market is not stronger. “J” March-May shipments have been .'‘old at JESS 10s. The output to the end f ’f February was 203,000 bales, against 196,000 bales for the same period of last >ear. Stocks in Manila on February 29 "ere 136,000, against S 9.000; in Great Britain, 14.186, against 4,103. The sisal market is quiet. Tanganyika No. 1 afloat and for March-May s hipm?nta sold at £36 15s; Xo. 2, £34 15s to £3;. The New Zealand market is dull. Fai** afloat pressed is for sale at £3O. but *'Uyers are holding back. America not interested in highpoints. but there are buyers of small quantities for Europe a t £32 10s, sellers £33. Wool The Bradford market has a firm tone snd quotations for crossbred tops are hardening. Present quotations are:— (Merino), warp, 4s Sd per lb; averts*. 4s 7d: 56's (super halfbred), 3s 7jd; (halfbred), 2s Sid; 40’s, prepared, 8 lld * TARANAKI OILFIELDS LTD. Press Association. GISBORNE, To-day. The Tarar.aki Oilfields, Ltd., reports that the Gisborne No. 1 well is down to a of 2,45Cft in sticky shale, which has progress. One day was lost in •sting for tools. At the Gisborne No. " ' T *|l work has been delayed by bad 'Either, but the position is now more a v our able. MINING NEWS , hartley AND RILEY. —Cable advice 8 been received that negotiations have completed with an English firm for ... bpwerfm all-British steam dredge speaity designed for the company’s re■"’ernents and fitted with all the latest -Provemerts known to the engineering inn, together with tools, extra dup icate and two British motor-trucks, at a ...-® very muc h less than that quoted -i the American dredge manufacturers, dredge is to be delivered at Cromerected and working to the oatisu°a of the company by March, 1929.