COMMERCIAL

New Zealand Herald, Volume 79, Issue 24292, 5 June 1942, Page 5

COMMERCIAL

AUCKLAND EXCHANGE FEWER SALES RECORDED There was less activity on the Auckland Stock Exchange yesterday, Jbufl late values generally were maintained. Farmer l ;' Trading had an early sale, after which the market eased in sympathy with the reduction in dividend, buyers dropping to 19s. Insurances and banks were very steady, CLOSING QUOTATIONS

YESTERDAY'S SALES RETURN ON INVESTMENTS Jn the following list of yesterday's sales yields allow for exchange and British income tax where necessary, and, in the case of loans, redemption and brokerage:— AUCKLAND EXCHANGE Sale Price Rise or Yield £ s d Fall £ s d , X.Z. Ins. (2) 3 3 6 *3 18 9 Sth. British 214 0 *2 15 0 Farmers' Auct. (B pref.) . 1 2 G Fmrs'. Trad. 10 0 +3d 416 J Willis (X.Z.) 012 11 -Id 5 8 5 Do. (X.Z.> 013 0 Wellington.—l Union Bank, £6 16s; War Loan, 1/10/53, £OO 15s. Christchurcrt. —Union Bank, £6 178 Ml X.Z. Refrig. (con.), Ss (Hi Dunedin.—Stock, 15/9/57-60, 3 I A, £lOl 15s- X Z. Insurance, 03s; Nat. Insurance, 189 lid'- X Z Refrig. icon.). 8s lOd; Wool worths (X'Z) 12s lid. Unofficial list: Mackintosh, Ca'ley,' Phoeni:c (2), 16s 9d. SSales after hours on Wednesday. 'lncludes bonus. tßased on interim dividend at rate per annum. AUSTRALIAN FINANCE NOTE ISSUE EXPANSION ~* (Reed. 10.40 p.m.) SYDNEY. June 4, The Australian note issue is now close to the £100,000.000 mark. A further rise or €5(>oooo shown in this week's Commonwealth Bank return brirgs the total to £98.864,038. This represents an increase of about £3'_>,500,000 during the past 12 months, while since the outbreak of the war the increase in circulation has been nearly £50,000,000. BANK OF AUSTRALASIA DECREASE IN EARNINGS The accounts of the Bank of Australasia for the year to October 13 show that, although gross earnings increased from £1,500.391 to £ 1 527 036 net profit was reduced from £'_>6G,lo6 to £237,103. Dividend is maintained at S per cent, less British income tax. The amount carried forward is £215,600, against £212.213 brought forward. Rates and taxes in Australia, Xew Zealand and London amounted to £521.025, an increase ox £62971. STOCK SALES WAIKATO VALUES Very mild weather for this time of the year has been experienced this week and feed is still plentiful in all districts. Large numbers of clearing sales are being held throughout the Waikato and previous indications that prices for dairy stock would improve have been verified, several highly successful fixtures having been held this week. At one sale in the Waihi district the sound cows in a tested herd realised the high average of £l3, while in other districts averages of over £ll have been obtained. These prices are obtainable only for high-producing cattle and inferior cows are still hard to quit, except at low rates. Values for top heifers have also firmed, but poorer quality sorts show little alteration. Cull cows continue to come forward in large numbers, and although, owing to the shortage of labour some of these will not be replaced, it appears that the inquiry will be fully equal to the supply. With feed plentiful values in. the store cattle market remain firm. In the store sheep section quite a number of lines of ewes in iamb have recently been yarded. Five-year ewes sell from 21s to 235. and based on present values for wool and fat lambs they are good buying at this price. The market for white face hoggets remains steady. Beef. —Values for fat cattle show only minor fluctuations. Mutton. —In the fat sheep section recent quotations for prime sheep arc usually maintained, but at some centres quite a number of unfinished wethers have been penned and, compared with the price of stores, they appear to be good buying. Pigs.—Smaller yardings of fat pigs are coining forward at all centres. Competition for prime baeoners and porkers remains keen at recent firm rates. The demand for stores has hardened during the past two weeks resulting in a definite improvement in valnes. Breeding sows have also met with a better inquiry at improved rates at some centres. Baeoners sell from £3 5s to £4 Ss; heavy porkers. £'_> 10s to £3 3s; medium, £2 10s to C2 15s ; light, £2 to €'2 «=: small and. ! unfinished 30s to 3Ss. PUKEKOHE SALE ( 0.C.) PUKEKOHE, Thnrsaa.v \ good varding of dairy cattle came forv •.card at the Pukekohe sale, conducted by \lfred Buekland and Sons, Limited. Competition was very keen for all good quality cows and heifers close to profit, and high prices were realised. Best dairy cow*, close to profit made £ll to £11; good, £8 to £10; later csilvers £0 to €7; aged and inferior, i'2 to £4; best heifers, £lO to £ll 15s; good, £S to £0 10s; more backward, £G to £7 10s; small and baekwward. £3 10s to £5 ss. There was an extra large yarding of fat, ■store and boner cattle, for which bidding was brisk Beef and boners sold readily under keen competition. All other classes were in brisk demand. Prime, young cows and heifers brought £8 to to ss; medium. £<> 15s to C 7 iOs; light, £o 109 to £G 10s; light, fat steers €9 to €10; fat Jersey cows. £5 5s to £('i ss : heavy boners. £ I 5s to £4 15s; medium £3 10s to ft; light. £2 15s to £3 . ss; aged and inferior. 15s to £2. The demand for heifer calves was poor, prices rantrin" from 18s to £2 -I s : potter bulls sold • from 15s to £1 12s A small yarding in both fat and store pig sections met a good demand Heavy bacon was scarce and made £4 ■ >s S to t! 12s; heavy pork. £2 17s to £3 ss; medium, 02 10s to t'2 15s; light, £1 i !Ss to £2 7s; small and unfinished. £1 8s to CI His; choppers, to £2 -Is; sows in pig, CI 10s to £3 10s; best stores. £1 to £1 <>s; others. 15s to 10s; slips. 8s to 13s; besft weaners. 10s to 13s; others, from 2s. ) DAIRY COWS IN DEMAND I A clearing sale was conducted at Turanga* ) moana. Mafamata. by Xewton King. Limited, • of Mr. Ralph Sherley's herd of 147. grade ■ Jersey cows supplemented by an offering, of 1 SO two-year Tnranaki Jersey heifers. Bidding > was particularly free from start to finish, the whole of the offering being sold under ' the hammer in three hours. Top price was > £2l 10s for a particularly choice grade Jersev cow and £2l was paid for a third calver JeYsev-Avrshire-cross. Values for the tops of the herd' ranged from £ls to £l9. The 18a guaranteed sound cows out of the 14, averaged £l° 2< the highest average recorded fo'r some considerable time. The offering .of t heifers met strong competition and top price ■ vis rv> 15« The tops sold from .£lO to 1 £l2 15s the whole line of SO'averaging ■i CO \s -V pedigree Jersey cow realised 2<giis, e with a 'yearling pedigree Jersey bull 20gns» v and a two-year pedigree Jersey bull 19gns.

Buyers Sellers ,£ 9 d £ s d Com. of Australia 0 13 10 0 14 2 National of X.Z. 1 17 0 1 19 0 Xciv South Wales 'J 7 15 0 — N'ew Zealand t IS 0 ■ 1 18 a I nion of Australia G I 1 j g 0 .J 6 18 8 National Insurance N'ew Zealand 3 3 0 3 8 9 South British 2 1 t G 2 15 0 Dom. Invest. Bk.. . 0 is 3 — F.C.A. (£5 paid) 1 4 6 4 7 6 N.A.F. IB pf.) .. ii 10 o 0 12 0 I'tikemiro Coal .. i.i 17 3 0 IS 3 Wstpt.-Sttn. (ord.) it •_» ■ ; 0 3 0 Auckland Gas .. 0 8 7 . 0 0 9 Ditto (con.) .. (i o 5 0 2 6 Devonport Ferry . 1 1 G — Union Steam (C pf.) 1 6 0 — Levland - O'Brien 0 1G 3 — National 0 8 0 — Taupo Totara (ord.) Ditto (15/- f.p.) (1 (1 5 13 3 6 Kaiapoi (17/- f.p.) 0 18 9 — Ditto (C pref.) 0 G 10 0 7 5 Dom. Brew, (ord.) 1 5 3 1 7 0 N'ew Zealand 1 10 0 1 11 0 Aust. Alloy Steel 0 7 1 0 8 0 Aust. Iron 1 4 6 1 5 6 Booth-Mac. (pref.) o 1 G 0 6 6 British Tobacco .. 1 15 0 1 17 0 Broken 11 ill l?ty. 1 13 10 1 14 8 Bycrort o 2 ft — Colonial Sugar .. 41 10 0 4G 0 0 Con. Brick & Pipe 0 7 0 0 7 a Fanners' Trading 0 19 3 1 0 9 K.D.V. Boxes 0 8 0 0 10 0 Macky, Lostan .. i o 0 1 3 8 M. and C. uleh. stk.) 0 17 0 -— Farmers' Fertilizer 0 ii"> 9 0 19 10 X.Z. Newspapers . 1 10 0 1 11 0 X.Z. RefriR. (paid) 0 19 G — l!eid Rubber 1 1 0 1 1 9 San ford lord.) . . (1 ■1 0 0 4 G Taranaki Oil Fields (I 5 3 0 6 3 Wilsons Cement . . II 15 1 0 16 0 Wool worths (Syd.) 0 13 11 0 14 0 Emperor Loloma . . 0 0 14 9 4 Mount Jjjell 1 3 9 1 4 0 War Loan. 1/10/53 90 o 0 91 5 0 Do., L/8/46, 2Va 97 15 0 98 5 0 Slock— 15/9/57-GO, 3VS • 101 0 0 101 18 0 15/1/53-57, 3Va . 103 5 0 103 10 0 3 5/5/40-52, 4 . . 11)4 5 0 105 5 0 15/0/52-55. 1 .. 107 10 0 108 0 0