COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 16, 31 October 1935, Page 9

COMMERCIAL NEWS

GRAIN AND PRODUCE. ' / THE ASHBURTON MARKET. Ashburton grain and produce merchants report a fairly quiet period on the local market.

There has been a strong demand for good whole fowl wheat for local and South Island requirements, and! sup-' plies are difficult to locate. Values have consequently hardened. The oat market remains firm, with little business passing. Most lines of Partridge peas have now been dealt with, and the market is quiet. The potato market has remained dormant during the week, and stocks held locally are low. Following the recent rain there has been a better demand for grass, clover and rape seed. The following are prices to be paid to farmers, on trucks at country stations, sacks extra unless otherwise mentioned:—

Wheat —-Nfew season’s: Tuscan 4s Sd, Hunters 4s 7d, Pearl and Velvet 4s 9d (all f.Orfb.). Good whole fowl wheat 4s. Wheat seconds 3s 6di to 3s 9d. Oats—Gartons 3s to 3s 2d, Algerians 2s 6d to 2s Bd, Duns 3s 3d per bushel. Chaiff —Good bright oatsheaf £3 15s. Grass Seeds —Perennial Italian and Western Wolths 2s 6d to 3s, cocksfoot lOd, while clover 6d to 9d, red clover 7d to 9d.

(Partridge Peas —No. 1 grade os to 59 3d, f.a.q.’s 4s 6d.

SOUTH CANTERBURY. TIMARU, This Day. With the exception of fowl wheat and oats, very little business is passing in the South Canterbury grain, seed and produce markets this week. Prospects for the coming season have been brightened as a result of the recent rains, although in some cases it has been late to save, crops in the lighter country. . , , , There is a good inquiry for fowl wheat at 3s lOd a bushel on trucks, the main source being the South Island. The North Island is being well supplied with Australian wheat. There is a good demand for A and B Gartons, but local supplies have been practically cleaned up. Normal quotations are 5s 3d a bushel on trucks for A’s and 3s 2d‘for B’s. Any lines of dark Duns are being readily accepted at 4s Id to 4s 2d! a bushel on trucks. Algerians are worth 2s 9d a bushel on trucks. ■ . Good bright oatensheaf chaff is quoted at £3 15s a ton on trucks. No. 1 Partridge peas are worth, 5s Id to <ss 2d a busiiel on trucks. There is an absence of demand for potatoes, as the North Island is being well supplied with consignments, and new potatoes are making their appearance in greater quantities. The nominal quotation for old potatoes is £7 to £8 a ton on trucks. There is very little inquiry for seeds, nominal values being: Ryegrass, Western Wolths and Italian 2s 6d a bushel on trucks, cowgrass 7d per 3J>, and cocksfoot Bd'.

THE STOCK SALES.

. ADDINGTON

CHRISTCHURCH, October 30. Entries at to-day’s Addington market were slightly easier, but there was a firm sale for fat stock and a sharp advance for store Sheep. Spring lambs, owing to a much smaller entry, sold at an advance, values being about 9d per lb.

Store Sheep —This section was in small numbers, and there was a sharp advance cf 2s for ewe hoggets and to Is 6d for wetter hoggets, with ewes and lambs slightly firmer. Ewe hoggets sold at 345, and wether hoggets at 24s 4d.

Fat Sheep —There was an entry of 3400 head. Wethers improved by 6d to Is, and ewes by Is. Extra prime heavy wethers sold to 28s Id, prime heavy 22s 6d : to 24s 6d, prime mediumweight 20s to 22s 3d, ordinary 17s 9d to 19s 9d; extra prime heavy ewes to 28s Id, prime heavy 19s 6d to 21s 6d, prime medium 17s 6d to 19s, ordinary 16s to 17s 3d.

Fat Cattle —The 460 head penned were of good quality, and with the exception of a few pens from the Coast all were from within the province. Values were unchanged, the sale concluding firmly. Prime steers sold to £ls 17s 6d, prime heavy £ll 5s to £l4, medium prime £lO to £l2 ss, ordinary £7 15s to~£9; extra prime heifers to £l2 2s 6d, prime £7’ 10s to £9 10s, ordinary £5 10s to £7 ss; extra prime cows to £lO 17s 6d, prime £7 to £8 15s, and ordinary £5 10s to £6 15s. Fat Pigs —The sale all round was easier. Baconers made 44s to 53s 6d, heavy to £3 7s 6d (average price per lb 4|d to s|d); porkers- 26s to 325, heavy 34s to 41s 6d (average price 4|d to s£d per lb).

BURNSIDE.

DUNEDIN, October 30.

The entry of fat cattle at the Burnside sale to-day numbered 228, and comprised for the most part medium quality bullocks. The offering also included several trucks of prime quality bullocks from the north, and the usual penning of cows and heifers. The market opened firm with prices equivalent to late rates, with a slight improvement as the sale progressed, but over the final races values eased to the extent of 10s a head. The entry of 150 store cattle, which included several pens of steers, met with a ready safe. A pen of three and four-year-old steers sold to £7 3s, and younger cattle from £5 5s to £6 17s, according to size and breeding. Prices for boner and graziers’ cows remained unchanged. The 46 dairy cows penned were of mixed appearance, only a few good animals being included in the offering. The best sold to £7, but aged and backward sorts were difficult to sell. In the' fat sheep section 1992 were penned about a third of the yarding being shorn. Wethers were forward in smaller numbers, and the quality was inferior to that of the previous market. On account of the shorter supply, there was a brisk sale, prices ap-

preciating 2s a head. The entry of ewes comprised principally medium quality sorts with only odd consignments cf prime heavy ewes and a percentage of light and inferior. Values generally were firm at the. average rates obtained at the previous sale, although sellers over the final races met the worst of the market, prices receding at this stage fully 2s a head for all descriptions. The fat lamb entry numbered 80, and the quality'throughout, with the exception of a few pens, was the best offered to date. There was a keen demand for all prime sorts, the best lambs selling to 30s od. The entry of 119 f&f P 1 uiet a dragging market. In tlie early 0 the sale, best baconers sold to £3 i Js, but values receded considerably later, and over the concluding stage sales could only be effected at prices showing a drop of fully os a head for both baconers and porkers. The 111 store pigs offered met with good competition, and satisfactory prices were obtained.

SYDNEY WOOL SALES.

PRICES WELL MAINTAINED. SYDNEY, October 30. At the wool sales 12,600 bales were offered, 11,392 were sold at auction, and 913 privately. . . There was strong competition ail sections, and values were quite equal to the previous day’s rates. Greasy merino sold to 22|d.

GUARANTEE CORPORATION.

FINAL DIVIDEND DECLARED. , WELLINGTON, October 30. At the annual meeting of the New Zealand Guarantee Corporation, Ltd., held to-day, a final dividend of l*d a share on ordinary shares was passed. The retiring directors (Messrs YV. Appleton and W. Thorpe) were reelected unopposed, and the auditors (Messrs Watkins,.. Hunt, White and Johnston) also re-appointed. An amount of £3OO was voted to the chairman of directors, and £6OO to be divided among the remaining directors. An extraordinary meeting subsequently adopted the proposal to reduce the number of directors from seven to five, and the following were elected:— Messrs W. Appleton, K. D. Duncan, F. R. Hogarth, G. W- Magnus and \\ . Thorpe.

The dividend is equivalent to 8.3 per cent, for the year, compared with 11.11 per cent, last year.

THE SHARE MARKET

The following sales were made on the Christchurch Stock Exchange yesterday.— LISTED STO q KS . Sales on ’Change. £ s. d.

100 Coml. Bank of Aust. .. 0 16 7 9 5 100 N.Z. Breweries 12 2 12 100 Tooths Brewery 2 17 1 350 Broken Hill Propty., . „ “rights” l i 1 1 u 3 (2)1 1 0 1 1 1 1 1 2 400 Dunlop Perdriau Rub. (3) 0 16 0 0 15 11 250 Gr. J. Coles 3 5 3 (2) 3 5 2 (2) 3 5 1 100 N.Z. Drug Co. > (2) 3 17 0 300 Big River 0 1 11 £00 Mount Lyell 0 19 0 19 3 2 300 Skippers 0 0 21 Sales Reported. £ s. d. 200 Mount Lyell (2) 0 19 3 £100 N.Z. Farmers’ Co-op., 4j per cent. Stock, 16/3/1939 85 0 U 100 N.Z. Drug Co. 3 17 0 100 British Tobacco 1 19 0 50 N.Z. Breweries 2 12 8 100 Oamaru Woollens 1 2 5 250 Mortgage Corporation (5s paid) 0 5 5 90 Dalgety and Co. 8 2 3 8 2 0 100 Bank of New Zealand 2 10 9 UNLISTED STOCKS. Sales on ’Change. £ s. d. 1800 Argo Gold Dredg. (4) 0 1 2$ 6 50 Emperor Fiji (10s pd.) 1 2 Sale Reported. £ s. d. 50 Tiproff Seal (£1 paid) 2 7 0