COMMERCIAL NEWS

Ashburton Guardian, Volume 53, Issue 14, 27 October 1932, Page 7

COMMERCIAL NEWS

GRAIN AND PRODUCE. THE ASHBURTON MARKETS. Merchants report a very slack week on the local market. Stocks of most lilies of grain, seeds and produce are on the light side and a small amount of forward business has been transacted. Odd lines of milling wheat are still making their appearance and are readily accepted at rates in excess of fixed pi-ices. Fowl wheat is very firm and local supplies are short. The market for potatoes continues to be strong and good. Dakotas, which are difficult to procure, have firmed in price. Orders are still being received from the North Island, and new tubers on the market there have ■ not affected prices. Odd trucks of chaff have changed hands, but the demand is far from brisk.

The following, are quotations for grain and seeds to be paid to farmers. With the exception of wheat, which is f.0.b., less Id commission, the prices are on trucks at country stations, sacks extra:—■ Wheat—Tuscan, good milling, 4s Hunters 5s OJd, Velvet 5s 2£d; fowl wheat 4s 91 d, seconds 3s 9d. Oats—A Gartons 3s, ' B Gartons 2s 9d, Algerians 3s; good, heavy, dark Duns 3s, feed 2s Sd. Grass Seeds—Perennial 4s, Wolths and Italian 3s 9d to 4s, red clover 9d to lOd, white clover Is 6d, cocksfoot 6d, linseed £6 10s on trucks. Chaff—Good, bright oatsheaf £3 12s 6d a ton. Partridge Peas —No. l’s 5s 9d, f.a.q. ss. ' • • Potatoes —Whites £5 ss, Dakotas £5 15s.

THE STOCK MARKETS.

ADDINGTON. (Per Press Association). CHRISTCHURCH, October 26. A heavy southerly storm, with rain continuing to-day, caused slightly smaller entries at the weekly market at Addington/ Features of the market were an easing in lamb prices arid a slight advance in mutton prices. In the store sheep four pens only were entered. * Fat Lambs—A yarding of 873 of good quality was offered. Top price for the matket was 18s 4d, and the average price per lb was 5d to 5-£d. Fat Sheep—An entry of 3900 head was not sufficient for requirements, and values advanced* by Is a head for all classes. Extra prime heavy wethers, made up to 19s lOd, prime, heavy 15s 6d to 17s, medium-weight prime 14s to 15s, ordinary 12s 6d to 13s 6d, , light 10s to 12s; extra prime heavy ewes to 17s 4d, prime heavy 13s 6d to 15s; prime medium-weight 11s 6d to 13s, ordinary 9s 6d to 11s, light 7s to 9s; extra prime shorn wethers to 16s 7d, extra prime shorn ewes to 14s 6d. Fat Cattle —The entry of 405 head

included large consignments from the North Island, Otago and Southland.

The entry constituted a slight oversupply. Values for steers were on a par with late rates, while cows and heifers were- inclined to be easier. A

line of 49 steers from Palmerston North averaged £lO 3s 2d. Best beef made up to 25s per 1001 b, good prime 21s to 245, heavy 18s 6d to 21s, secondary 15s to 18s, inferior to 14s. Values were: Extra prime heavy steers to £ll 7s 6d, prime heavy £8 to £lO, prime mediumweight £6 15s 6d to £8 10s, ordinary quality £4 15s to £6 ss, light £3 5s to £4 10s; extra prime heifers to £9 12s 6d, prime £6 to £7 15s, medium £4 10s to £5 15s, light £2 15s to £4; extra prime cows to £9 2s 6d, prime £5 to £7, medium £3 10s to £4 10s, light and infei'ior £2 5s to £3 ss.

Fat Pigs—-There was a medium entry of baconers, and the demand was slightly better, hut pork was in oversupply. Values’were: Chopper,s £2 to £3 16s, baconers 40s 6d to 51s 6d, heavy £3 to £3 5s (average to 5d per lb) ; porkers 26s 6d to 32s 6d, heavy 34s 6d to 38s 6d (4)d to sd).

BURNSIDE

DUNEDIN, October 26. A larger yarding of fat cattle at the Burnside sales to-day caused a drop in values, while sheep were also sold at reduced prices. There was an easing tendency at the stax-t of the lamb sale, but the market firmed as the sale pi'ogressed, and last week’s prices were idealised. iThei'e was a firm sale for pigs, and prices showed little change. The yarding of 225 head of fat cattle consisted principally of good, handy, light-weight bullocks. Heifers were in short supply, and two or three pens of extra heavy cows were forward. The best consignment of bullocks sold at up to £ll 17s 6d, and another pen brought up to £lO a head. One truck of prime light-weight sorts averaged £8 15s, and lighter sorts were worth from £7 10s to £8 10s. .Heifers sold at up to £6 12s 6d, and cows up to £6 17s 6d, the whole yarding showing a drop of 10s a head compared with the prices obtained at the previous sale. Extra pi'ime ox beef was worth 21s, heavy 20s, aixd cows 18s a 1001 b. In the store cattle section, a line of 60 head of medium steers sold under keen competition and averaged £5 10s a head. The i-emainder of -the yarding consisted mostly of cows, which sold at from £1 10s to £4.

About 2500 sheep were penned. The best entry of wethers seen for some time Was included in the yarding. Very few good ewes were forward, but the entry included a fair number of shorn ewes. At the opening of the sale extra prime wethers sold at up to 19s, showing a drop of 3s a head on the previous sale rates. One consignment of wethers averaged 16s a head. Two or three pens of ewes were sold at a reduction’of Is a head, and extra

prime ewes in wool sold at up to 11s. The yarding of lambs was composed of a large number of extra primes. Extra heavy lambs sold at up to 22s 6d, and several pens brought from 18s to 20s. Light-weights were worth from 14s to 16s. Prices over the whole yarding were equal to 71 d a lb. There was a good yarding of prime quality pigs. These sold at prices on a par with those which ruled at last week’s sale. Prime porkers were equal to s|d and 6d, and bacon pigs s|d a pound.

GERALDINE. There as a small yarding, and prices were lower than usual, at the fortnightly sale held at, Geraldine yesterday. Sales were made as follows : —• Fats—Seven ewes at 12s, 9 at 10s, 4 at 8s lOd, 4 at 7s 9d, 6 at 7s Id, 1 at 6s 6d, 15 'at 9si 6d, 9 at 10s Id, 4 at Bs, 3 at 8s 4d, 12 at 9s lOd, 2 at 7s 6d, 1 at 12s, 3 at, 10s, 9 at 9s 9d, 6 at 9s, 5 at 10s, 5 at 8s 9d, 5 at 11s, 8 at 11s Bd, 4 at'Bs 3d, 7 wethers at 11s. Stores —One hundred and fifty-six ewes and lambs at ss, 12 ditto at 3s 3d, 84 ditto at ss, 115 ditto at 6s 9d, 117 at 4s 9d, 1 ram at 6s. / Cattle—One heifer at £2 2s 6d, 3 yearlings at 30s, 1 at 11s, 1 steer at £2 15s, 1 springing heifer at £5 ss, 2 yearlings at 37s 6d, 1 bull at £2, 1 springing cow at £5, 1 cc,w in profit at £2 2s, 1 empty heifer at 37s 6d. iPigs —One at 23s 6d, 2 at £l, 9 at 14s 6d, 1 at 13s, 2 at 18s, 4 at 17s.

NATIONAL INSURANCE COMPANY THE ANNUAL REPORT. DUNEDIN, October 26. The annual report of the National Insurance Company shows that the net income for the year ended September 30 amounted t0'£249,400 16s 7d. After making full provision for losses outstanding there was an underwriting surplus of £J6.886 19s 6d. Interest and rents, less income tax, amounted to £30,975 13s 8d and the balanc©.brought forward from last year was £37,842 11s 7d, a total of £85,705 4s 9d. An interim dividend was paid in May, 1932, which absorbed £16,666 13s 4d, leaving available a balance of £69,038 11s sd. The directors have added £902 0s 8c! to the taxation and contingency account, £9675 13s 6d to .the investment fluctuation account arid written off the company’s premises, and they now recommend payment of a further, dividend of 5d pet* share (making the total distribution for the year 9d per share, equalling £37,500) and to carry form'd £35,627 10s 7d.