COMMERCIAL NEWS

Ashburton Guardian, Volume 56, Issue 74, 9 January 1936, Page 7

COMMERCIAL NEWS

GRAIN AND PRODUCE. THE ASHBURTON MARKET. Harvesting operations arc in full swing and odd lines of oats and grass seed have been threshed. It is rather early to determine prices, but a sale of Algerions has been reported on the local grain, seed and produce market in the vicinity of 2s a bushel. No threshing of wheat has taken place, and it is anticipated that the wheat prices will be announced by the Wheat Committee within the next few days. Very little forward business has been reported, but the prospects for good yields are bright. Prices to be paid to farmers cannot yet be determined. THE STOCK MARKETS. ADDINGTON. (Per Press Association). CHRISTCHURCH, January 8. To-day’s sale was the first for three \veeks at Addington, and there were very heavy entries in practically all classes of fat stock. Fat sheep comprised the largest penning at an ordinary market for many years, hat cattle were also in over-supply. , Store Sheep—Mostly lambs and adult wethers were forward. A big draft of m.s. lambs sold at 19s fid, and the best of the adult wethers to 18s lid. Wethers were slightly easier. Fives in the wool and lambs sold to 16s 6d, and two-tooth ewes to 265. Fat Lambs—The quality of the 2200 penned was moderate, some of the lambs having gone back in condition. Full schedule rates of up to 7sd per lb were maintained. Fat Sheep—The big entry of 7000 met with a pronounced decline in values. Heavy wethers and ewes were down 3s to 4s a head, and light ewes by 3s, lighter wethers showing a recession of about Is. Butchers were not in the market to the usual extent as they still hold some of their Pto* Christmas purchases. Exporters bought freely, values being well within schedule prices. Extra prime wethers sold at 24s to 265, good 21s 6d to 235, others 18s to 21s 3d; best ewes 17s to 20s, medium 14s to 16s, and light to 11s bcl. Fat Cattle—There was a yarding oi 535 head and a general easing of 20s to 25s a head. Best beef made froni 24s to 27s per 1001 b, and medium 22s to 23s 6d. Top price for steers was £l2 7s 6d, for heifers £9 7s 6d, and for cows £8 7s 6d. These prices were up to 25s a head less than at recent Fat Pigs—The over-supply of this class weakened the market, which was down on last sale. Export pork sold well, but export bacon was cheaper. Choppers made to £3 13s 6d, baconeis 45s to 50s, heavy baconers 52s 6d to £3 (average 4d to sd), porkers 33s to 35s 6d, heavy porkers 37s 6d to 42s 6d (s'id to 6fd). BURNISIDE. DUNEDIN, January 8. In the fat cattle section at Jlurnside sale there was an entry of 270. This comprised only a small percentage ol prime heavy bullocks, for which there was an exceptionally keen demand, prices appreciating 30s a head on the previous market. Medium quality bullocks and prime cows and heifers sold at £1 a head firmer, but aged cows were neglected, and prices for this class showed no change. The entry of store cattle numbered 130, and comprised a small percentage of steers and the usual lines of heifers and cows. j . Vealers were in over-supply, and sold at reduced rates, while steers were also slightly cheaper. _ In the fat sheep section 1626 were forward. The entry included a few trucks of good quality wethers and several consignments of ewes of outstanding quality. At the commencement of the sale values were 2s a head easiei than the extreme rates which ruled at the previous market, and continued on this basis until the middle of the sale, when, there was a further decline, and over the final races vendors had to accept fully 2s a head less than the opening rates. This applied more particularly to heavier grades. The fat lamb entry numbered 808. Freezing buyers operated at full schedule rates, and butchers competed freely for all heavier grades. Prices generally were firmer by Is a head. v A small entry of 30 dairy cows was penned. Competition was confined to good-conditioned, close to profit sorts, the best of these selling to £6 ss. In the fat pig section 179 were penned. The sale opened under slack competition, but improved later. Values generally were equal to late rates. An entry of 128 store pigs met with a weaker market, and prices showed a drop of 2s to 3s a head. THE WOOL SALES. SECOND AUCKLAND ALLOTMENT. AUCKLAND, January 8. The wool for the second; Auckland sale, which will he held on January 21, is now being catalogued at the stores. The limit originally fixed was 25,000 bales, but this was increased to 28,000 bales. The season lias been an abnormal one. At the first Auckland sale on November 26 the allotment was not reached, as bad weather delayed shearing, and only a small quantity of new wool was available. The bulk of the offering comprised wool held from the previous season. A spell of fine weather in December brought wool in quickly, resulting in an early closing of catalogues for the second sale. The clip is opening up favourably, and the character is rather typical of the first sale, in which, in ordinary seasons, it would have been included. A feature is the small proportion of lambs’ wool, which usually is well represented at the second sale ; hut this type will no doubt be in evidence at tlie final sale of the season. The clip does not appear to have suffered in any wav from late shearing. The major proportion is medium and coarse crossbred, and there is not a great proportion of fine wools. There will be no limit to the catalogue at the third Auckland sale on

March 24. Usually there is an offering of about 12,000 to 15,000 bales. However, this season the wool for the third sale is already being received in store, and .it is probable that the amount available will be above the normal quantity. SYDNEY MARKET. SYDNEY, January 8. At the wool sales to-day 12,156 bales were offered, 11,516 sold, and 962 disposed of privately. A tendency m sellers’ favour was again evident, particularly for well-grown descriptions. Under good general competition film clearances were made at veiy firm values. Greasy merino sold to 3ld. WOOL FUTURES IN ANTWERP. LONDON, Jari. 7. Antwerp wool futures for dry combed Australian tops are: March 29|dj May 29Jd, July 29*d. BANK DIVIDENDS IN ENGLAND. LONDON, Jan. 7. The Midland and Westminster banks have declared additional final dividends, with a special centenary bonus of 2 jmr cent., also a bonus for staff pensioners. The profits were slightly above those of 1934, despite the apment of bonuses. The dividends are unchanged. The National Provincial Bank dividend is also the same as 1934. THE SHARE MARKET, The following sales were made on the Christchurch Stock Exchange yes-

terday:— LISTED STOCKS. Sales on 'Change. £ s. d. £400 N.Z. Govt. 4 p.c. Ins., 1937-40 103 0 0 200 Com. Bank of Aust. ' ' (2) 0 18 9 . 50 Bank of New Zealand o 7 6 200 N.Z. Refrig (10s pd.) 0 10 11 50 Broken Hill Propty. 2 18 4 100 Dunlop Perdrian Bub. 0 15 10 150 G. J. Coles (cum div.) 0 7 4 (2) 3 7 5 100 Henry Jones Co-op. 1 17 6 100 Kauri Timber 1 2 9 75 Wool-worths (N.Z.), ord. 5 15 . 3 5 15 0 500 Big River (2) 0 2 1 1000 Mahakipawa 0 0 0| 300 Mahakipawa (1929), pref. 0 0 1 400 Mount Lyell (4) 1 0 6 50 Mount Morgan < ... 1 18 0 Sales Reported. £ s d. 15 Bank of N.S.W. (2) 33 0 0 100 N.Z. Refrig. (1()b pd.) 0 11 0 100 Beath and Co. 1 7 6 200 Consolidated Brick ... 0 11 0 100 Henry Jones Co-op. 1 UNLISTED STOCKS. 17 6 Safe on 'Change £ s. ti. 300 Argo Gold Dredging (ex. div.) 0 1 5 50 Woohvorths (Sydney), ord. 5 19 0