FINANCE & MARKETS

Sun (Auckland), Volume II, Issue 554, 5 January 1929, Page 10

FINANCE & MARKETS

CHRISTCHURCH WOOL SALE

DUNEDIN RATES SHOULD BE MAINTAINED (Special to THE SUE) CHRISTCHURCH, To-day. At the second Christchurch wool sale cn Monday next, a catalogue or 23,114 bales will bo offered. A proportion of tho wool is dusty, but, taken generally* the clips are well grown. The re is a good representation of station halfbred and Corriedale wools- The wool this season is heavier than that last season. At tho corresponding sale in Februarv, 1925. the offering was smaller by over 1,000 bales. Practically a total clearance was made. The average price a lb was 19.22 d, the highest at the Christchurch series, and the average price for a bale was £26 10s <d. These values are not likely to be realised at the coming sale, but the good values realised at Dunedm should be maintained.

LONDON DAIRY VALUES

FAIR BUTTER BUSINESS ■(Australian and K.Z. Press Association) LONDON. Thursday. There is a fair trade passing in the butter market. Choicest salted New Zealand is quoted at 182 s to 184 s; exceptionally fine. 186 s; Australian. 180 s to lS2s: unsalted. New Zealand, is quoted at 194 s to 198 s; Australian, 184 s to 188 s. The decreased German demand caused prices for Danish butter to ease further to 191 s. The cheese* market is quiet; New Zealand, white, is quoted at 95s to 965; coloured. 995; Australian, white. 945; Coloured, 975.

j LONDON MARKETS

l WHEAT, FLOUR, PULSE, ETC. (Australian and N.Z. Press Association) (United Service) LONDON. Thursday. "Wheat —Cargoes are quiet and unchanged to 3d down. Parcels closed od easier. Liverpool futures: March delivery. Ss 11 7-Si per cental; May, 9s Id. July. 9s 3d. The spot trade is dull, with quotations easier. Australian ex ship, •18s. . 0 _ Flow; —Quiet, Australian, ex-store, oos JW- y, - Oats—Easier. Peas and Beans —Steady. Sugar—February, 9s Id. THg METAL MARKETS on January 1 in parentheses.) Copper—Spot, £73 3s Od (£73 6s 3d); three months, £74 6s 3d (£74 12s Electrolytic Copper—Spot, £7B 5a X£77); three months, £lB los (£77 10s). Wire Bars—Spot, £7B 15s (£77 10s); three months, £7B 15s (£77 10s). Lead— Spot, £22 6s 3d (£L_); three tnonths, £22 13s 9d (£22 6s 3d). Spelter——Spot, £26 Ss 9d (£26 17s 6d); three months, £26 8s 9d (£26 15s). Tin—Spot, £222 2s 6d (£220 lis 6d); three months, £222 12s 6d (£225 12s 6d). Silver, standz.rd, 26 5-16 d (26s 3-8 d) per pz.; fine, 28 3-8 d (28ftd). BANK OF ENGLAND RETURN The Bank of England returns for the week ended January 3, as compared with those for the week ended December *7, ere as follow: Jan. 3. Dec. 27. Note circulation >• 413,123,000 413,784,000 Coin .. . . .. •• Reservo .. .. •• 35,034,000 25,820,G00 Govt, deposits .. 22,336,000 12,960,000 Other deposits .. 122,046,000 107,001,000 Govt, securities •« 62,637,000 67,297,000 Other securities .. 64,708,000 44,786,000 Proportion of reserve to liabilities 24.20 21.50 SHORT LOANS AND BILLS Short loans, 3ft per cent., compared with 3ft per cent. last week; three months' bills, 4 9-32 per cent., compared With 4 7-16 per cent, hist week. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of December 27: VariaPrice. tion. £sd s d Consols, 2J per cent. .. 56 5 0 Same. Fund ing Loan, 4, 1960-90 90 5 0 Same. War Loan, 5, 1929-47 .. 103 0 0 10 0j Conversion Loan, 31 .. 79 7 6 2 6f Com’wealth, 51, 1922-27 98 12 6 Same. Comwealth. 6, 1931-41 103 0 0 2 6? New Zealand, 4. 1929.. 99 18 9 1 3t New Zealand. 3ft, 1940.. S 7 17 6 5 0t New Zealand, 3, 1945 SO 5 0 2 6f New Zealand, 6, 1936-51 106 7 6 47 6* tHigher. ‘Lower. BRADFORD TOPS The market is quietly firm with quotations unchanged. More interest is being shown in low grade crossbreds. TIN STOCKS The visible stocks of tin are 23,508 tons; spot, 2,422; afloat, 1,483; deliveries, &158. THE PRICE OF GOLD Gold is quoted at 84s Ilftd an oz. WHEAT VALUES Wheat—Cargoes are quiet and little changed. Parcels are neglected. Liverpool futures: March delivery, 9s 0 3-Sd per cental; May. 9s l£d; July, 9s 2d. TALLOW SALES At the London tallow sales 897 casks were offered and 238 sold. Prices were mostly unchanged. Mutton, fine 44s 6d, medium 40s; beef, fine 43s 6d, medium 39s 6d. DULL MARKETS J DAIRY PRODUCE SALES The butter market in London is ciuieter and cheese sales are slow. From its London house on January f*. Dalgety and Company received the following cablegram:—Butter: New Zealand, finest salted, 180 s to lS4s; Danish, 192 s to 1965; Australian, finest winsalted, 184 s to 188 s; Australian, finest salted, 180 s to 182 s; Australian, OAQ., 174 s to 178 s. Cheese: New Zealand, white 94s to 965; New Zealand. coloured, 97s to 995: Australian, white. 92s to 945; Australian, coloured, 95s to 975; Canadian, white and coloured, 108 s to 112 s. The cablegram to Amalgamated Dairies, Ltd., on January 3 said: Butter: Finest, 184 s; first grade. 182 s; Danish, 185 s f.o.b. Cheese; White, 95s to 965; coloured, 995.

SOUTH AMERICAN MEAT

Meat exports from Argentina and Uruguay to the United Kingdom during the fortnight ended December 20 were advised in a cablegram to the New Zealand Meat Producers* Board from its Buenos Aires representative. The experts were: Chilled beef, 158,650 quarters; frozen beef, 2,025 quarters; frozen mutton, 41,870 carcases; frozen lamb, 129,650 carcases. The quantity shipped to the Continent of Europe during the same period was: Frozen beef. 71,274 quarters: frozen mutton, 17,960 carcases; and frozen lamb, 941 carcases.

MEAT KILLINGS DROP

EXPORTS FROM N.Z. NORTH ISLAND LEADS SOUTH Killings for export at all New Zealand works during tho season from October 1 to December 15 show decreases. in the main, on the killings made in the corresponding period in 1927. A big drop has taken place in the beef killings especially, and there are decreases in mutton and lamb. The most killings were made in the North Island, which easily leads the South Island in killings for export. More stocks of ewe and wether mutton are on hand in the stores, but beef shows a drop. Figures are given below, with returns for the season in 1927 in rarentheses: —- Killings.—North Island: Beef quarters, 15,859 (43,574); wether mutton carcases, 79,813 (98,925); ewe mutton carcases, 12.903 (12,025); lamb carcases, 406,982 (440,885); porker pigs, 22,381 (23,354); baconer pigs, 11,688 (11,801): boneless beef, freight carcases, 14.683 (22.029): sundries, 15,069 (1,859). South Island; Beef quarters, nil (nil); wether mutton carcases, 15,149 (nil); ew© mutton carcases, 1,139 (nil); lamb carcases, 34,436 (24,692); porkers, 387 (712): baconers, nil (59): boneless beef, freight carcases, 711 (683); sundries, 5.360 (4.564). Total for New Zealand: Beef quarters, 15,859 (43.574); wether mutton. 94,692 (98,925); ewes, 14,042 (12,025); lambs, 441,418 (465,577); porkers, 22,768 (24,066): baconers, 11,688 (11,860); boneles sundries, 23,429 (6.423).

Stocks in Stores—North Island: Beef quarters, 6,911 (23,053); wether mutton carcases, 33,693 (37,322); ewe mutton carcases, 5,365 (6,175); lamb carcases, 226,162 (253,458); porker pigs, 8,731 (13,567); baconers, 8,292 (10,520); boneless beef, freight carcases, 9,717 (12,860); sundries, 15,902 (1,603). South Island: Beef quarters, 78 (4); wether mutton, 10,872 (295); ewe mutton, 10,743 (69); lamb, 32,562 (18,769); porkers, 370 (592): baconers, 89 (59); boneless beef, 884 (2,721); sundries, 4.559 (116). Total for New Zealand: Beef quarters, 6,989 (23057); wethers, 44,565 (37,617); ewes, 16,108 (6,244); lamb, 258,724 (272,227); porkers, 9.101 (14,159); baconers, 8,381 (10,579); boneless beef, 10,601 (15,581); sundries, 20,461 (1,719). On December 15 stocks of meat loaded into steamers not departed from New’ Zealand were much below the stocks on December 15, 1927.

NATIONAL MUTUAL LIFE ASSN. SUCCESSFUL YEAR REVIEWED The head office in Melbourne of the National Mutual Life Association of Australasia, Ltd., has cabled as follows to Mr. F. W. Nicholson, manager for New Zealand: The 59th annual general meeting of members was held on December 18, 1928. The new business for the- year was exceptionally satisfactory—2o,72B new policies having been issued for £9,807,845 —an increase of £573,132 over the previous year’s total. The total income for the year was £4,930,696, an increase of £551,798. The very large amount of £2,441,176 14s 3d was added to the assurance fund, w’hich amounted to £29,147,329 18s 6d. The amount payable to policy-holders or their representatives during the year was £2,750,058 7s 4d. The rate of interest earned on the mean funds was £5 10s lid. The ratio of expenses continues to show a material decrease. Members may expect to receive their bonus certificates on or before March 1, 1929. This is a particularly satisfactory report, and the members have every reason to be well satisfied with the wonderful progress the association is making.

CANADIAN WHEAT CROP (Australian> and N.Z. Press Association) Reed. 9.5 a.m. WINNIPEG, Friday. The North-West Grain Dealers* Associatiou made a final estimate of the 1928 crop of 540,730,800 bushels, with wheat in farmers* hands to market 17,484,000 bushels. Some of the wheat was tough, and trade w’as lower than in former years.

FAT STOCK PRICES V Prices which are being offered for fat stock for export, according to advice from the New Zealand Meat Producers’ Board, at January 3 are: Hawke’s Bay, prime woolly lambs, 361 b and under, lOd; 371 b to 421 b, 9£d; 431 b and over, 9d; second-quality lambs, 9d. Wellington: Prime woolly lambs, 361 b and under, lOd; 371 b to 421 b, 9ftd; 431 b and over, 9d; second quality lambs, fid.

AUCTION NOTES The New Zealand Loan and Mercantile Agency Company advertise in this issue the dates and the locations of their country sales for January, and particulars of their weekly sales. Alfred Buckland and Sons, Ltd., advertise in this issue the dates and the locations of their weekly and country sales.

NEW ZEALANDER RETURNS

POST IN OTAGO UNIVERSITY (Special to THE SUN) DUNEDIN, Friday. Dr. Eric D’Ath, pathologist at the Royal Prince Alfred Hospital, Camperdown, Sydney, who has been appointed to the chair of pathology at the University of Otago is a graduate of Otago University. He was wellknown as a student, lecturer and a demonstrator. He is 31 years of age.

Dr. D’Ath was educated at Wanganui Collegiate School, matriculating in 1914. He commenced his medical course at the Otago Medical School two years later, but left to join the New Zealand Expeditionary Forces in 1917. He was appointed to the laboratory branch of the New Zealand Army Medical Corps, and served in the various military laboratories in New Zealand and overseas as a pathological assistant until June, 3 919, when he resumed his medical studies. In his second professional examination he passed with distinction in the subjects of pathology, bacteriology, and materia medlca, and graduated in 1923. After being on the staff of the Dunedin Hospital Dr. D’Ath left to take up the appointment at the Royal Prince Alfred Hospital in Sydney.