POTATO MARKET FIRM

Sun (Auckland), Volume III, Issue 744, 17 August 1929, Page 12

POTATO MARKET FIRM

POSITION IN CANTERBURY Press Association CHRISTCHURCH, Friday. On the Canterbury markets todav was observed more or less as a holiday by the gram and produce trade, onlv a few offices being open for business. The sensitive condition of the ‘potato market caused these to operate. There has been an easing tendency since the mid-week report, but this afternoon there were indications that this tendency had been arrested. On Tuesday August tubers were quoted at £9 to £9 2s 6d and Septembers at up to £9 10s. These came back to £8 l<s 6d and £9 respectively, but this afternoon it took a shade more than this to buy either delivery. Although supplies are fairly plentiful in the North there has been quite an amount of inquiry for future shipments. The definite refusal of the Commonwealth authorities to lift the embargo and the publication of the statistical returns depressed the market early in the week, but the uncertainty in the matter of a sufficiencv of supplies and the absence of forward contracts have kept Northern inquiry MTaipiata is now loading in the South, and is understood to be picking up tubers from the Bluff and Dunedin. in -i> a^ c^**on Timaru, which port she will leave. on Tuesday for Lyttelton. The probabilities are that she will take a good-sized cargo from here. Farmers are now more inclined to come on the market. National Week is generally a quiet time, but it frequently marks the turning point in the trend of the market. : alues on trucks during the last few days have ruled at from £7 10s to £7 los a ton.

The firming recorded in the oats market during the mid-week has been maintained, although there is not a great amount of business doing. Values for A grade Gartons range at up to 3s BXd a bushel, at which figure some business . en one * Offers from growers are still in small compass. The prospect Qt an Australian outlet has not improved during the week. Wheat now in stock is practically all in the hands c.f the pool, which is making sales at 6s 4d. f.0.b., s.i., for Tuscan. Fowl wheat is firm at os lOd to os 10£d a bushel, f.o b There has been practicafly no business in the seed market during the week.

HIDE MARKET WEAK

WELLINGTON SALE (From Our Resident Reporter.) WELLINGTON, Friday. u .J he , fortnightly sale of sheepskins, hides, tallow, and sundries was held this afternoon, before a large attendance of buyers. Competition generally was keen, especially for line wool sheepskins, which were £d to id a Jb better than late rates. Other grades sold about on a par. Prices for hides, heavies, medium, and lightweights were from par to l-8d a lb lower than previous quotations. Kip and yearlings were in request, and sold at par to Jd a lb bettfer. Calf were slow of sale, values being slightly easier. Tallow prices were unchanged. The following is the range of prices:— Sheepskins.—Halfbred, 122 d; fine crossbred, lOd to 12id; medium crossbred, 9£d to 113 d: coarse crossbred, 9d to 11id; half wools, 7Jd to lljd; quarter wools, Sid to pelts. 61d to lOJd; salted quarter wools, 6s 2d; half, 6s lOd to 8s; threequarter wools, 7s to 9s 3d; full wools, 8s to 10s 7d; extra large, 10s lid; lambs, 4s 6d to 5s 4d.

Hides.—Ox, 331 b to 441 b, 7d to 7id; 451 b 1° f 2 J b * 6 7-8 d to 7id; 531 b to 591 b, 6 7-8 d to 8 1-Sd; <olb and over, 4s 84d; cow, 33ib to 391 b, 6 7-Sd to 72d; 401 b to 4Slb, 53d to 7 5-8 d; 491 b and over, 6d to 7d. Kip.—2slb to 321 b, 6d to Bfd; 171 b to 241 b, 6id to 9id; yearling, 111 b to 161 b, 9id; calf, 91b to 101 b, 9d to 9|d; 61b to 81b, lOd to 13id; lib to 51b, 7id to 12ld. Tallow.-*-In casks, 275; in tins, 22s to 2Ss; cow tails, 14id to 20s; horse, 17d.

FOREIGN EXCHANGE RATES

British. Official Wireless RUGBY", Thursday

The following rates on foreign exchanges are current today, compared with the cabled quotations on August 13 and par:—

OPOSSUM SKIN MARKET

Dalgety and Company, Ltd., Auckland, report having received the following telegram from their Dunedin house, reporting on the opossum skin sale held at Dunedin:—

Thirty-four thousand skins offered. Ours 17.295. Blues and greys firm. Blacks and browns, 6d to Is 6d higher; blues, 9s lid to 23s 2d; greys, 9s 3d to 18s lOd; reds, 7s to 14s 9d; blacks, 10s lid to 23s Id; browns, 9s Id to 15s 4d. Auckland consignments averaged 10s 6d to 15s.

AUCTION NOTES

Palethorpe, Parkes, in conjunction with T. Hadfield and Sons, will offer lor sale by auction at their auction rooms, 1 and 3 Winstone Buildings, Queen Street, Friday, August 23, at 11.30, modern city warehouse, brick and concrete, one storey level to all wharves and railway station, situated Freeman’s Bay, corner of Halsey Street and Madden Street. Palethorpe and Parkes will offer for sale by auction at their auction rooms, Queen Street, Friday, August 23, at 11.30, absolutely without reserve, freehold section, frontage to Shoal Bay, Devonport. George Walker, Ltd., instructed by the owner, who is giving up housekeeping, will sell by public auction on Monday, August 19, at 11 o’clock, at the residence, Levin Road, Epsom, complete, household furnishings, including piano arid effects.

BANK DIVIDENDS IN NEW ZEALAND AVERAGE 14%

The average dividend paid by banks operating in both Australia and New Zealand is 14 per cent. In no case is it under 12* per cent. Dividends rarely fluctuate to any great extent, for the policy of providing strong reserves, apart from helping the bank in its operations, assists in equalising the dividends paid upon its shares. The need for a new bank in New Zealand, to meet the enormously increased volume of trade, has long been apparent, and shrewd investors will take full advantage of the opportunity to secure shares at par in The Australian and New Zealand Banking Corporation, Ltd., for such an opportunity has not occurred for forty years. The directors of the new bank are men of wide and successful business experience, while the general management will be in the hands of competent and experienced bankers. In view of the sound nature of this investment, it is anticipated that the whole of the present issue of shares will be quickly taken up. Intending investors, therefore, should secure a copy of the prospectus without delay. The organising brokers are Dominion Brokers, Ltd., 605-606 Dilworth Buildings, Queen Street, Auckland, 1 4

Aug. 15 Aug. 13 Par. Montreal, dol. 4.872 New York, dol. 4.84 13-16 4.88 4.866 4.866 Faria, fr 123.955 124.21 Brussels, belga 34.87 34.88 35.00 Amsterdam, fl. 12.104 12.10 12.10 Home, lire .. 92.745 95.75 92.46 Berlin, r.m. .. 20.36 20.355 20.43 Stockholm, kr. 18.10 18.10 18.159 Oslo, kr 18.20 18.20 18.159 Copenhagen kr. 18.21 Vienna, sch. . . 34.425 Prague, kr. . . 1632 Hel’gfors, mk. 192 7-S 18.21 34.425 1632 18.159 34.584 24.02 192 7-8 193.23 Madrid, pes. . . 33.06 33.025 25.224 Lisbon, escu. . 108.20 108.20 . Athens, dr. .. 375 375 375.00 Bukarest, lei. 817 817 25.22J R. de Jan. mil. 5 7-S 5 7-8 B. Ayres, dol. 47J 47.57d Calcutta rupee 17 25-32 17 25-32 lSd Shanghai, tael. 28J H. Kong, dol. 23 1-8 U\-8 Yokohama, yen 23 1-3 23 3-16 s 24.58d Batavia, fl. .. — — 12.10