TO-DAY'S QUOTATIONS

Sun (Auckland), Volume III, Issue 899, 17 February 1930, Page 10

TO-DAY'S QUOTATIONS

AMERICAN WHEAT

PRODUCTION DECREASES WASHINGTON, Saturday. The Department of Agriculture, in its survey, indicates that, favoured by a decline of about 40,000,000 bushels in the visible supply since the peak last October, an improvement in wheat prices from the recent mark decline appears likely in the next few weeks. The total of the visible supply is still larger by 37,000,000 bushels than in 1929. Farm prices for wheat would remain on the average for January, owing to the decline in market prices. The price that, month one dollar 7.5 cents. Market prices declined from 1 dollar 26 cents to 1 dollar 18 cents during the month. The world wheat situation is reported to be unchanged. with the foreign demand for American wheat remaining disappointingly weak. ’ Xo attempt is made to forecast the 1930 wheat crop, but the survey says the condition of the winter-sown crop must be watched closely for the remainder of the season.

EXCHANGE RATE RISES

PROHIBITIVE POSITION FOR AUSTRALIA SYDNEY. Sunday. Owing to the depletion of Australian funds in London, the banks have again been obliged to raise their rates for drafts by another 30s per cent., which will operate from tomorrow. It will now cost the importers 62s 6d per cent, premium to transfer credits from Australia to London. The charge is the highest for years, and is regarded as prohibitive. It will Tend to check imports, as no doubt is intended. The quotation of 62s 6d premium is apparently that for transfers, the rate introduced on January 28 having been 52s Gd. The other selling rates will now be 53s 9d for sight drafts, 45s for 30 days’ drafts, and 36s 3d for 60 days’ drafts.

COMMENT IN ENGL AND LONDON, Saturday. •'The Economist,” commenting on the recent statement by the Prime Minister of Australia, Mr. J. H. Scull in. regarding the country’s finances, and also on tho shipment of Australian and the reduction of loan activiiice. says; “These events may be taken evidence that Australia is doing her best to protect the interests of Jir»n rredlto *'s. and Australian stocks til emerge from the present depresK LVI?, ' V \r tl '’ " e trust " an enhanced repubhhh cation for security.”

LONDON MARKETS

FROZEN MEAT PRICES LONDON, Saturday. The weekly quotations for the undermentioned classes of frozen meats are based on actual sales of wholesale quantities of carcases of mutton or lamb, or of quarters of beef delivered to Smithfield market and or ex London stores. They are compiled by the Quotations Committee, Smithfield. To arrive at the equivalent ex ship values one farthing a pound should be deducted from the prices quoted-be-low. Quotations given represent the average for the week and are not selected lines, hut for parcels fairly representative of the bulk of the shipments now on offer. Argentine Sheep.—First qualitv crossbred wethers, 481 b. to 641 b, 7id” 651 b to 721 b, 7d. New Zealand Lambs—Selected North Island lambs, 361 b and under, II 3-8 d: second quality, average 311 b, lOJd; other North Island brands, first quality, 361 b and under, 11 l-Bd. Australian Lambs.—Other States, second quality, 361 b and under, 8 l-8d; all. States, third quality, 7Jd. Argentine Lambs.—First quality, 361 b and under, Did: 371 b to 421 b, 9id. Argentine Chilled Beef.—Ox hinds, 1601 b to 1201 b., 7d; others unchanged. COTTON AND RUBBER (Last week’s prices in parentheses.) j Cotton.—March delivery, 5.45 d (S.3ld) a lb. ; Rubber. —Para. Sid (8 3-Sd) a lb: plantation and smoked, 8 l-16d ( 7 7-8 d) a lb. Jute. —February-March shipments j £26 15s ( £27) a ton. ! Copra.— ary-March shipment, : South Sea, £2l 5s (£2 10s) a ton: plantation, Rabaul. £2l 10s (£2l 10s) a ton. | Linseed Oil.— £44 10s (£44 10s) a j ton. Turpentine.—42s 9d (455) a cwt.

SUN COMMERCIAL SERVICE A special section devoted tc answers to readers on financial and commercial questions, is included In these col* umne each Saturday. While every effort is made to ensure accuracy In every Instance, no responsibility can be taken for the Information given. All queries should be addressed to the Commercial Editor. THE SUN. Anxious (Hamilton): Xo.

PRICES AT CHICAGO CHICAGO, Saturday. ■Wheat.—March, 3 dollar 3 5 3-8 cents i a bushel: May, 1 dollar 20 1-8 cents; July. 1 dollar 21 1-8 cents; September. 1 dollar 23 1-S cents. Spray rooms with Flytox. Kills mosquitoes, insects, etc. Possesses per-fume-like fragrance. Stainless. —16.

Closing quotations a.t today’s mid day Buyers. Seller s. £ s. d. L s. d BANKS— Aust. of Commerce — 1 ft o Nuetralasia 11 15 o 12 ft < on . of Australia . 1 3 0 1 3 Ditto (con) (rights) 0 2 2 ft 2 Ditto (pref. * . . . . 19 ■National of >.7.. . . 10 ft -Nat. of Australasia IS ft IS 12 ft ' Ditto (con.) . .. n 7 12 o New South \\ ales . 10 ft 4ft IS ft New Zealand IS IS Ditto, D Mart. . . 1 X I nion of Australia . li 15 0 11 IS 0 INSURANCE— National 0 i n r* 0 14 I) New Zealand 2 4 ft South British .. . . 0 0 3 2 0 LOAN AND AGENCY— Dom. Bank and Investment 1 ft 3 Ditto, B shares .. 10 6 Farmers' Co-op. 4 1 9 Ditto B (pref.) . . 0 If. 0 Goldsbrough, Mort . i 10 1 13 ft Nat. Mort. and Agency IS 0 Newton King (pref.) 0 il 0 N.Z. & River Plate 1 10 0 N Auck. Farmers' » 'o-op. (ord. > 2 4 Ditto (El pref.> .. 0 s 0 0 11 0 COAL— Hikuranpl 0 1 G 0 2 6 Ditto (pref.) .. .. c 4 0 Pukrmiro 10 0 Renown 0 1 4 3 Ditto (pref. i . . . . ft ft Ditto (new issue.) ft Taupirt — . 1 X ft "Walpa — 0 14 3 Westport 1 s ft At estport-Stockton — 2 GAS— Auckland 1 3 ft 1 3 0 Ditto (con.) . . .. 0 17 6 Birkenhead and North 0 7 0 „ — SHIPPING— I>e von port Steam .. 1 2 0 1 1 ft Hudd art-Parker ft 0 .Northern Steam 13 G 0 14 ft Ditto (con.) .. .. — 0 7 0 TIMBER— Bartholomew 1 1 0 — National 0 —. Parker-Lamb 0 17 6 —

call were:— Buyers. Sellers. £ s. d. £ s. d BREWERIES— C. L. Innea .. .. .. 1 1 ft Ditto (pref.) .. .. 1 1 0 — X.Z. Breweries . . . . 4 4 4 6 J. Staples 2 10 0 MISCELLANEOUS— British Tobacco 2 1 2 2 "3 0 Dominion Pictures . 1 0 0 Ditto (pref.) . . . . 1 ft ft Farmers’ Trading . . 8 ft 9 ft Ditto A (pref.) n 1 4 ft 17 6 Ditto K (pref.) 0 12 0 ft 12 Fullers' Pictures 0 IS • «iear Meat 2 0 0 Hayward’s Pictures ft 1 8 0 Kemp. Prosser's 11 ft 13 0 Milne and Choyco deb. stock 1 6 ft 1 6 Morris. Hedstrom (pref.) .. ... .. 0 18 Farmers' Fertilise!- . 1 1 ft X.Z. Paner Mills .. 1 0 6 X.Z. Refrigerating- . 0 10 6 Sanford. Ltd 16 0 Ditto (pref.) . . . . 1 0 ft S. R. Maxwell . . . . 0 6 ft 4 Union Oil Whittome Stevenson ft W ilsons (V2P'-nt 1 IS 6 1 19 3 MINING— Alburnia 0 0 3 a ft 9 Alburnia (paid) 0 ft ft ft 9 Moanataiari (paid) . ft 1 n Ditto (4s paid) ft 1 ft 1 X Ducky Shot (4s pd.) ft 2 ft Ohinemuri (ord.) . . 0 ft ft 6 W aibi 0 13 4 ft 14 ft Waihi Grand June. . ft 1 ft 1 Mount I..yell 1 14 1 15 ft Kuala Kampar Tin — 0 0 0 DEBENTURES— Auck. Har, Board. 6i per cent —■ l ft:: 1ft ft Ditto, 6 per cent. 102 ft 0 105 0 ft City of Auck, 1940, 97 10 0 Bor. Devonport 101 ft ft Borough Alt. Albert, 196::, 53 P.c —■ I ft 1 0 Williamsons Films . 103 0 0 Gisborne Sheepfarmers — 94 0 0 GOVERNMENT BONDS — War Doan, 1938, 4i — 99 10 ft Ditto, 1933, 5i - . 99 5 0 Ditto, 1936, 5J p.c. 9S 10 0 — INSCRIBED STOCK — War Loan, 1939, 4 4 Iftft o ft Ditto, 1927-41, 5; 15 0 Ditto, 1936, 55 P-c. 98 10 0 —