COMMERCIAL NEWS

Ashburton Guardian, Volume 59, Issue 138, 24 March 1939, Page 7

COMMERCIAL NEWS

THE RESERVE BANK.

THE WEEKLY STATEMENT. WELLINGTON, March 23. The following is a, statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, March 20:—

Proportion of reserve to notes and other demand liabilities 25.129 per cent. Sterling exchange is expressed in New Zealand currency.

METHV'EN STOCK SALE. SUPPLEMENTARY EWE FAIR. The supplementary ewe fair at Methven yesterday drew A comparatively small yarding, some advertised lines again failing to be yarded. There was the usual offering of fat stock, foi which freezing buyers were paying lull schedule rates. The top price for fat lambs was Ids Id for several pens from different owners; 15s 8d was the next best price for a line of 116. The top price for fat ewes was 6s 7d.

The store sheep were of mixed! variety. Aged ewes, which predominated through the sale, were little in demand and prices went down to as low as Is per head. * For store lambs and younger sheep the sale was a- satisfactory one in view of the quality, buyers paying more attention to any open-woolled typo of sheep. There was a fairly large offering of rams, the prices for which were quite good for the class of sheep. One outstanding sale "was a line of 37 1-shear and 2-shear English Leicester,? sold at 31 guineas. Individual sales for tlie same class of rams were up to 4% guineas. Southdowns made up to 2g guineas. Pigs sold from Ils to 20s for weaners, according to size. The range of prices was:— Fat Lambs—From Iss 7d to 16s Id. Fat Ewes—From 6s Id to 6s 7d.

Store* Sheep- —Good three-quarter-bred ewe lambs to 16s, good l-bred wether lambs 9s 4d to 10s, small f-bred wether lambs from 3s sd, good H-bred mixed sex lambs from 13s Id, medium H-bred mixed sex lambs from Bs, small 3-bred mixed sex lambs from 5s 4d, 2 th. Romney* cross ewes, good 24s 6d, 2th crossbred ewes, medium, 17s 9d; 2th crossbred ewes, small, 13s 9d; 2-th. halfbred wethers from 1.2 s to 16s/2-th. thfee-quarterbned wethers 8s to 10s, 6 and 8-th halfbred ewes (average) 12s 6d, 4-year-dld 3-bred ewes (average), 14. s 4d; aged ewies from Is to 7s 3d, according to condition of wool. Sales wore:— ,

Fat Lambs—6B at 16s Id, 103 at, 16s Id, 27 at 15s 7d, 68 at 15s Bd, 48 at 15s Bd. Fat Ewes—44 at 6s 7d, 9 at 6s 7d, 18 at 6s Id, 43 at 6s 6d . Store Sheep—7l 4-year 3-bfed ewes 14s 4d, 32 2-tli !-l>red ewes at 14s on, 90 3-bued lambs at 5s 4d, 113 3-breU lambs at 5-s, 67 halfbred ewes at 3s sd.

122 at, Is Id, 12 2-th wethers at 12s, 25 merino wethers at 7s, 16 wetliei* lambs at 9s, 92 ejwfes at 6s 6d, 169 m.s. $- bred lambs at 13s Id, 34 ewes at 4s Id, 24 1-bred .ewes at 3s 4d, 66 at 3s 9d, 87 at 2s 6d, 47 2-th. ewes at 14s 3d, 38 2-th wethers at 10s, 49 bull ewes at Is, 53 m.s. lambs at Bs, 26 2-th t-bred ewes at 11s 9d, 12 4-th 2-bred ewes at 17s 9d, 53 Romney., cross 2-tii ewes at 24s 6d, 66 fl-bded ewe 1 lambs at 16s, 201 6 and 8-th 3-bred ewes at 12s -Bd. 136 wethqr lambs at 10s, 6 2-th f-bred owes at 13s 9d, 28 2-th half bred wethers at 16s, 136 5-bred wether lambs at 10s. Rams—2 1-shear E.L. Rams at 4 gns, 8 do. at Signs, 9 at Signs, 5 2shenr do. 3gns, 5 do. at Signs, 5 at 2ighs, 5 at 2.\gns, 4 Southdown at 2i gns, 3 1-shear E.L, do. at 4igns. Pigs—Weaners: 2 at 20s, 3 at 18s 6d 6 at 17s; 1 at 14s, 2 at 11s.

GRAIN AND PRODUCE.

THE CHRISTCHURCH MARKET CHRISTCHURCH, This Day. Main interest continues to centre in potatoes. This season of the local grain and produce market is still meeting with an excellent demand both for prompt and future deliveries for the North Island, but there has .bqpn ho chnhge in prices during the past week, oil trucks quotation for prompt being £7 a ton. As, an indication of the increased business done this season as a result of the failure of the North Island main crop, two thousand bags more were shipped from Canterbury to the middle of March this year than were shipped to the end of April last year. . Some milling wheat is still coming forward. Quality has deteriorated since the rain and the spell of poor drying weather which followed, and as a nesillt a proportion of thesp lines is showing a high moisture content. A few sunny days would put remaining crops ill good condition. There has been steady inquiry for good, darg, heavy Duns, the price remaining at 3s 6d. There is not much demand for Cartons at present. Good germinating ryegrass is finding a ready market at unchanged prices, but the cocksfoot inquiry is still comparatively quiet. Quality this season, while not outstanding, is a great improvement on last year. A demand has set in for clover, but. as with other lines, there has been no change in prices. .... . Following are Quotations to farmers on trucks, country stations, sacks extra: — « • Milling Wheat—F.a.q. prices': Tuscan, 5s 6d; Hunters, 5s 8d; Pearl, 5s lOd. Oats—Duns, 3s 6d to 3s 9d; Algerians, 2s 9d to 3s; Cartons, 2s 6d, according to quality. Ryegrass —Perennial, 4s 6d to ss; Italian and Western Wolths, 2s 6d to 3s; according to quality. Cocksfoot —6d to 7d.

White Clover —lOd to Is. Potatoes— Prompt, £7 ; forward, £7. Flour—£l3 10s 6d to bakers; £l3 15s 6d to storekeepers. Bran —£4 15s large, £5 5s small. Pollard—£6 5s large, £6 15s small. Onions —£12; export conditions ii'a. THE SYDNEY MARKETS. SYDNEY ; March 23. Wheat prices continue to fall. Silo grain is quoted at 2s 35d a bushel and bagged 2s 7d. Flour—£l2 10s a ton. Pollard —£5 5s a ton. Bran —£5 a ton. Potatoes —Tasmanian, £lB a toil; others, to £l7-. Onions—New Zealand brown, £24 a ton; Victorian white, £2O. Maize —Prime yellow, 4s 9d a bushel. THE SHARE MARKET. The following sales were made on tha Christchurch Stock Exchange yesterday:— LISTED STOCKS. Sales on ’Change.

LIABILITIES— £ s. d. General reserve ... 1,500,000 0 0 Bank notes Demand Liabilities: 14,825,501 0 0 .'State 4),848,171 11 4 Banks 8,988,970 3 3 455,843 17 9 Liabilities in curreticle's other than New Zealand cor32,487 3 9 Other liabilities ... 305,889 4 10 Total £ (N.Z.) 30,950,852 0 11 # ASSETS— £ s. d. Reserves: 0 Gold 2,801,791 0 Sterling exchange 4,547,863 2 !) Subsidiary coin .... 203,862 12 3 Treasury and local . body bills — Advances — Primary Products Marketing Dept ■ 7,388,640 5 10 For other purposes 12,250,000 0 0 Investments 3,651,028 6 4 Other assets 113,666 13 9 Total £ (N.Z.) 30,956,852 0 11

£ 8. a 200 N.Z. Breweries (2) 1 is 0 600 Dunlop Rubber (cum div.) (6) 1 i 5 50 Electro. Zinc (ord.) . ' 2 6 6 100 Electro. Zinc (pref.) ' 2 9 0 100 iHume Pipe (Aust.), 0 (cum div.) ... 1 2 200 Woolworths (Syd., 1 ord.) .’(cum div.) .(2) 2 9 50 Grey River 0 18 6 Sales Reported. £500 N.Z. Govt. 3) p.c. 10 0 Inscr., 1953-57 91 100 Com. Bank of Aust.0 16 1 140 United Building (cum 0 div.) (odd parcel) ... 1 6 300 Southland Frozen Meat '(3) 1 7 6 50 Grey River 0 18 7