CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXVI, Issue 19942, 31 May 1930, Page 12

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S SALES.

CHRISTCHUBCH. Bales on 'Change—t a. d. Commercial Bank of Aystralia .... (<*) 117 National Bank oi Austrafcsia (£5 paid) . (8) tl2 0 Now Zealland Breweries (4) Jl2 0 British Tobacco w - y 6 Sales Reported— West port Porough 6 per cent. IU4O ... 102 O O Australian Bank of Com- , merce •• • , •• • 1 0 " Commercial Bank of Aub- * tralia ... ...lit National Bank of Australasia (£5 paid) 'J* o National Insurance ... 014 0 New Zealand Bnwerics (8) • ••• "12 O Bank of New Zoalnnd ... 218 10J Tooths Brewery ■ 1 IP U i 14 o Commorcial Bank of SydBritislT Tobacco ••• -00 AUCKLAND. Bales on 'Change:— „ s. a. Union Bank .. • • 11 13 0 Povonport Steam • • I * " New Zealand Brewories .. s U <i Colonial Sugar .. .. « 0 Fanners' Trading (-) 08 9 Albuviiia G,M. .. 0 0 lj WELLINGTON. Sales Reported— Ji s. a. Now Zealand Government 4), per cent. Stock, fcsB P ' 08 12 6 Australian Bank of Commerce ... ••• J■ j> ® Bank of New Zealand 2 18 Union Bank of Australia 11 13 6 Union Bank of Australia (Melbourne Reg.) 11 lo 0 Christchuich Gas Co, ... 1 « f New Zealand »2) i 1-2 0 British Tobacco Co. (ord.) 2 0 3 Wilson's Cement (cum djv.) 3 5 o DUNEDIN. Sale on 'Change:— x s. u. N.Z. Breweries • • 212 1 Sales Reported— Bank of New Zealand (U) 218 9 N,Z. Breweries . ■ 212 3 Commercial Bank • • 1 J 7 Bank of Australasia .. 13 16 <5 Okarito • • • • 0 2 6 prenj. PIGS AND POULTRY. Good yarding# of both pig* and poultry were ponnfd at tho auction mart in Ashbur. ton yesterday, whsn there was a good attendance. Prices realised were as follows!—' Poultry—Hens Ss 4d to 5s 7d, roosters 3s 74 to 5s 9d, ducks 3g 7d to ss. I'ige: Baconers 4Bs to 12fi (id, porkers 32s to 40s, stores 19s to 225, weauers lis to 17s.

latest quotations.

FEILDING STOCK SALE

(pa*6B ABSOCW.TWS TK.SORA*-) FEJtPING, May 30, With heavy yardings of Ist and store sheep, fat, Btore, and dairy oattle, there was a healthy tona about the stock suit) to. day. Pat lambs showed an advance of 1» 0d to 2s per head, but grown fatß showed no improvement on last week's prices. Stores, specially breeding ewes, sold better. Dairy cattle came forward in larger numbers than for several sales, and very good prices were offered. Quotations —i'at lambs, prime heavy woolly black faces IBs 3d, shorn b.f. jprimest 18s 3d to lUs, good 17s to 178 Bd, medium los 9d, fat two-tooths, good }Ps 5d to 21s, fat ewes, primest 108 to 19a 9d, very good 17« 3d, medium 14g Id, poor 13s 7d 13* 4d, fat wethers, prime 21s 74 to 8S( 2d, Bpod 20a, f. and f. 12s lOd. Stores —Four and six-tooth ewes r.w. S.D. rams 17s 8d to 18s Id, four and five year ewes r.w. B.D. rams 16e, ft very good lin» of two-tootUs to five-year ewes r,w, S.D, rams 24s Id, b.f. lambs lis Id, wether lambs lis, f. and t. ewea, poor 7s Id. Dairy Cat tie—Springing cows, best £lO, others good condition £7 17s fid to £8 10s, poor and aged cows £4 upwards, springing heifers in very good condition £l3 10s, good lines £8 to £8 Bs, pedigree Jersey Ueifsr, springing £l4. Store Oattle-r-Weaner heifers, Jersey good £8 10s, others, nondescript Ss to £2 12s 6d, store cows to £3 Bs, red cows r.w.b. £3 15s to £0 2a 6<i, bull* £B.

LEESTON STOCK SALE. A mu«h healthier tone was apparent at the Leeston stock sale yesterday than wag the case at the provioue sale, held three weeks ago, The yarding of stock was about up to the usual dimensions for this time of the year, except that only two head of oattle were penned. Other entries Included about CO? sheep (nearly all fat lambs), 38 fat pigs, and 84 store pigs. The lambs were mostly tail-end drafts, but they met with a good demand at improved rates. Fat pigs were firm and the larger stores spld well. The sheep sales were:*—Far J, Mckathlan, 140 fat lambs at 21s 7d; B. McLachl»n, 29 forward lambs at 10s 10d, 9 lambs and 2 wethers at 17s 10ds 3. H. Hampton, 87 fat lambs at 21* 44; S, Weavers, SO fat lambs at 28a 10ds J?, g, Candy, 110 tat lambs at 28a 7d; J. T, Parkin, 43 fat lambs at 19s Id; J, Lsgg, 77 fat lambs at 20s Id; client, 24 fat wethers at 18s, 35 at IGB 4d

~A line of baconers sold for Mr Hamilton (Winchester) made £5 0g 6d. Others brought 70g 6d to 90s ed, porkers 47s 6d to 71s 6d, large stores ■ 86s 6d to 57s od, medium 17s to 80s, wennerg from 9e, A fat heifer brought £7,

METHVEN LIVE STOCK SALE. Tk* fortnightly live stock sale wan held in the Mcthven saleyards on Thursday. The offering showed » considerable drop, due ts the lateness of the season. Tim f*t sheep sale shpwed an advance in prices over the sale of two weeks ago, but the bulk of tho yarding comprised medium quality lines. A feature of the yarding was » line of 143 lambs, sold by the National Mortgage urid Agency Co., Ltd., on account of Mr John Kyland, Methveu. They were an • extra prime Jot. There was only a small offering of cattle and pigs, and all were sold at good prices. A Jorge quantity of produce was offered, and sold well. A township pro. perty, consisting of a flve-roomed house and shrea-quarters of an acre of land was submitted, but failed to reach the owner's reserve. The principal sales recorded were; Fflts-*~143 fat lambs at 24s 7d, 30 do. 4t 14s 7d, 32 ewes at 9s ttd, 45 lambs at 13s Bd, 34 at 17s 7d, 1 wether at 21s lid, 2 lambs at an* 6d, 31 ewes at 18s 04, lie at lis <td, 100 at 19s Od. 15 at 15s, 44 at 13r 3d, 573 lambs at 15s 8(J, 07 al 13s Sd, 76 St 17s 2d, 59 at 14s 4d, 56 al 19s Bd, 40 at 18s lid, 25 at 19s 6d 06 at 16s 6d, 10 ewes at 13s 4d, 18 at 9s Id. en wethers at IDs ad. Stores—Nineteen cull ewes at 6s 9d, 76 lambs at 14s 7d, 70 ewas at 9s. Cattle—One cow in profit at £ll ss. 1 springing cow *t ills ss, 1 do, at £4 13s, 1 springing heifer at £9 15s. Pigs—Two store pigs at 265, 2 at 225, 3 wenners at 20s, lat 13s, lat 12s, 3 stores at 265, 2 at 225.

RABBITSKJN SALES. Paigety and Company, WmiUd. have re? chived the following cablegram from their tendon ofßoe, dated May 89th;-* Rabbit Skin Sales—Poor demand. With drawals heavy. Furriers neglected. Pulling 10 per cent, lowitr; unpulled neglected, 30 per cent. lQwev -where sojd.

FROZEN MEAT.

9MITHFIELD QUOTATIONS. u»lgety and Company, Limited, h»ve received the following cablegram their London office, dated May 1 29th: — New Zealand Frozen Lamb. Market firmer. Demand better owing to warm weather. Quotations: — d. 26/301b Canterbury .. .. SS 2g/361b North Island .. ..81 iiO/4211) Canterbury .. ..8 it(j/421b North island .. .. 7J Bi'coud quality Canterbury .. ~8 Second quality North Island .. 7j 42/501b Canterbury . . -. 7J 42/501b North Island .. ..Ik AustralirJi Frozen Lamb. Market unchanged. Demand limited. Quotations:— 28/3011) Australian O.A.Q 6& 36/421b Australian C.A.Q. Not quoted, 28/3tilb Australiun F.A.Q. Not quoted. Third quality Not quoted. New Zoaland Frozen Mutton. Markut very weal:. Demand poor. Quo* tatiops:— 48/561b Canterbury .. ..5 48/561b North Island .. ..48 sfi/'64lb Canterbury .. *. 4i SC/ts4!b North Island .. .. 4| 64/7211) Canterbury ... 4 04/7211) North Island .. .. SJ Ewes, heavy •- -• .. 2 J 15wos light • • 3^ Australian Mutton. Market weaker. Demand poor. Quotatlon«: — 40/6011) Australian ti.A.O. .. .. 3J 30/551!) Australiun F.A.Q. .. ..31 jj w¥S Not quoted. Beef. Market nominal. Quotations noiiiina-1. Quotations: — New Zealand prime ox hinds .. .. 5| tforeis • ■ • * .. 41 Argentine chilled himl3 - • «. 0 i'ores • ■ .. 3J

Pork. Market weaker. Demand nil. English porkers, BQ/}t)o)b • • -. Now Zealand porkers, 80/lODlli .. 7| New Zealand porkers, XOO/1201b .. 7

HAWERA FARMERS' COOP. .\BT PKOFIT, mWt. }(i their sixteenth annual report and bal-ance-sheet to be presented to shareholders at (he annual meeting at Hawera on June 20th, tlio directors of the Farmers' Co-opera-tive Organisation Society of New Zealand, Ltd., »t»te that notwithstanding the lower level of prices ruling for all pr.mury products and the fact that a largo quantity of wool remains unsold, the year under review bag been a successful one for the Society. The gross profits for ilie year, after charging tho year's bad debts against tbe earnings, amount to £24,007 4s 11(1. Propertied and plant h»V9 been written 4ewn £5300 J.2s Id, which leaves a balance of £19,297 12s 104. After reserving £4735 for income tax, a net profit of £14,5U3 12s 104 remains, To this not profit must be added the balance remaining in the appropriation aeoount after payment of last year's dividend and the transfer of forfeited share reserve, making a total sum now appearing as a credit balance in that account of £17,539 12s Sd. Your directors recommend;-^. » s. d. The payment of a 5 per cent, dividend, absorbing . . JO, 574 5 8 Th# transfer to u general reserve account of .. 3,000 0 -0 The transfer to s special reserve account (for alterations and additions to buildings) of . . I,SOO 0 <} The carrying forward of the balance .. .. 2,666 910

Tho accounts for last year followed pn a series of de&oita. In .1833 the lois was 1*20,330, this being slightly reduced in the two following years. In 1926 the company was reorganised, and the deficit was then £37,179. In 1088 the net profit was £16,003, and the company paid a dividend of 8 per. cent,, but At the close of that year there waa a debit balance of £18,420. The (rose, profit for 1929 was £90,923, but Out of tbie £5846 was written off for depreciation and £5900 w»s set elide for income to. The sum of £4OO was written off for shares in Combined Buyers, in liquidation. Tbe afltual net profit was thus reduced t# £10,311, out of which a dividend of 4 per cent, was' declared, \ absorbing £8897, leaving £1914 to be carried forward, The principal Items In the balance-sheet are as follows :-~-Pald-up capital, £211.4851 mortgages on freehold property, £17,888; Banks of Australasia and New Zealand, £31,862; fixed deposits, £38,116; creditors. £63,884; reserve for income tax, £4735, The assets include freehold and leasehold properties. £63,173; machinery and plant. £10,745; sfock on hand, £48,030; sundry debtors, £359,151; shares In other companles, £4500.

WESTLAND POWER, LTD.

of Westland Power, Ltd, report that development of the company's undertaking has progressed favourably, and the auxiliary plant and main plant have been working satisfactorily. Accounts, which cover a period of 14 monthß, from November Ist, 1928, to December 31 st, 1029, disclose a net profit of £357 Is lid (subject to income tax), which is considered satisfactory in view of the faqt that the company js only in its second year of operation. Purlng the period under review, further re* ticulation has taken piece, on# a number of new consumers have been connected up.; Additions and improvements have been made to the water races and the reaervoiri, and the main station at Dillroaus has been completed. A itand*by plant, equipped with Piesel engines, is now in course oi erection. Total Increase in capital expenditure has been £16,277 6s 3d, and the fixed assets now stand at £57,344 12s 2d. Paid-up capital has increased by £5393 7s, and further accommodation has been secured from the company's bankers to the extent of £10,315 3s Id, Tho company is now in # position to supply power up to napacity of 820 k.w„ and negotiation! are taking place with further prospective con» aumerg. When the balance of power la arranged the revenue receivable should en* able a satisfactory return to be made on capital outlay, Tha annual balance-sheet and accounts can be seen by shareholders at the office of the company. Messrs Klrkcaldie (chairman) and H, G. Williams, directors, offer themselves for reflection. Messrs Wetkins, Hull, Hunt, and Wheeler, auditors, also offer themselves for re-election.

railway losses. X.S.W. £2,700,000. The estimated loss on the railways of New South Wales for the year ending June 30th has been ostimated by the accountant at £2,700,000, With , the !os» sustained by the Sydney tramways the total would be £8,000,000. With six weeki to go until the end of the financial year the loss on the Victorian Railways was £1.000,000, the accumulated deficit on the railways of this State being over £12,000,000.

PRIMARY PRODUCERS* BANK,

Net profit shown by the Primary Produoers' Bank of Australia, Ltd,, for the year ended February 28th amounted to £2833, a declin* of £4245. No allocation is made, and with £5605 brought forward, there w a carry-forward of £6433. Principal details ara as follows:

1923. , 1930. £ Jvet profit .. 7,073 2,823 To reservo ~ .. 10,000 Carried forward .. 5,606 8,433 Capital ... 434,485 438,803 irepnum reserve .. 65,004 61,706 Reserve fund .. .. 20,000 20.000 Deposits .. .. 1,003,605 1,885,727 Other liabilities 62,732 44,335 Balance due on property SO,OOO 45,000 Notes and coin .. 56,891 4; 419 Due by other banks .. 139,848 80*779 Money at short call 208,000 192,000 Commonwealth bonds .. 170,888 213*343 Bills receivable .. 98 781 59*850 Advances, etc. .. 1,7G3,650 1,804,558 Bank premises .. 88,670 99,08fl The premium mem hag been drawn upon to the extent of £3293. Capita] shows an increase of f43Q3. Deposits fell away, by ,tSI6B, advances roae by £34,908. An increase of £18,347 appears in bills in circulation. Liquid assets have declined £75,020, an increase of £42,455 in Commonwealth securities being the only higher item; th« decreases are, Notes £9472, balances due by other banks £59,139. monoy at short eafl £IO,OOO, and bills receivable £32,131, Bank premises are valued £12,426 higher, and the balance due on property purchased has 1 be «n red seed to £SOOO. 1

N.Z. Government Debent .irofl — 41. pnr cent. Inscribed, 1938 and 1031) 4J per cent. Bonds, 1930 Li per cent. innciibed, 1933 .. CJ per cent, Bonds, 1033 6i per cent. Inscribed, 1S*30 .. ££ per cent. Bonds, 1936 0$ per cent. Bonds, 193i Buyer®J8 e. d. 99 2 6 99 S 0 99 S 0 99 5 0 99 5 0 Seller £ a. tlO « 93 10 99 10 a. 0 0 u Ltt*t Buyart. Sellers £ s. 4. £ s - as in o so o 93 5 0 100 0 aa 7 o — d. 0 0 Apx. tniit. price for May, 1929. £ 6. d, 99 0 0 101 2 6 101 2 C 101 5 0 101 5 0 Other Debentures — Asliburton Eloctric, Si per conl., 1933 — JoO l) 0 _ - - Banks — Adelaide Aust. ol' Commerce Auelrulaaia. -i Coram of Aust. Comm. of Aust. •• Coram of Sydney K., S., and A. "National of Austrulabia (Jilt) pd-> National of Australasia (£5 paid) Xew South Wales fcuin div.) .. Queensland NutioiiiA .. •• Union oJ AubI. •• a 16 12 7 1 1 o e 22 5 G 9 15 4 7 11 39 2 6 15 11 15 a 6 6 0 0 0 a 6 6 0 0 7 0 1 5 1 1 22 10 6 10 15 9 7 IS 39 7 12 O 0 7 0 (3 0 0 6 0 0 1-1 1 4 12 2 1 1 6 6 21 5 6 S 15 3 7 13 39 2 11 6 0 ft 6 0 0 0 0 6 0 c c 1 4 1 1 6 9 16 0 7 19 39 7 11 3 il 3 0 0 0 6 0 10 2 1 16 14 13 1 1U 7 9 27 12 8 12 J 9 It 9 14 51 12 9 15 15 9 6 0 0 3 0 6 0 0 0 6 0 0 Insurance — National •• "• Zealand ■» • • .Standard United •• *• 0 U 2 4 4 9 0 14 3 6 S 1 0 s r l 0 0 0 0 It a 3 4 9 0 14 2 19 6 0 0 16 2 C 3 5 ti 3 0 Loan and Agency— Ualscty and Co. Goidabrouglii ilort N.Z Guarantee G'orpn. United Buildir.j; Society 11 5 0 1 11 11 0 7 0 0 11 6 11 lfi !> 1 12 8 0 7 11 0 IS 0 H 8 1 12 0 7 0 13 (i 6 7 10 X IS 0 7 ij 11. 13 13 3 18 0 8 0 15 6 9 9 9 Frozen MeatCanterbury tpi'fct.) N.Z. ltefrig. (10e paid) .. North Canterbury Freeuing' 3 16 0 4 0 S i S <1 0 4 11 0 2 15 0 i 7 0 4 ii 6 1 « 7 1 5 0 4 0 Woollen^r— Kftiapoi (17a paid) Kaiftpoi (7s paid) Kaiapoi (ptef-) •• ■* « 11 0 4 0 13 8 0 0 0 W 0 0 10 0 S <j 0 0 14 0 i 0 16 3 9 0 Coal — G roy V .ilU'j' Taupi ri Westport Stockton (pi'-'f.) •. 1 3 1 3 1 10 0 3 D 6 S 0 0 S 0 3. -£ i a 6 & J s 1 12 0 0 1 4 1 6 J 13 O 3 0 9 9 9 Pas— Auckland OhriBtcburch •• ('brittchuroU (10s paid) . • Timaru J 4 1 8 0 13 a O 0 0 18 1 'J 6 G 1 G 0 13 8 0 1 4 i a 0 19 1, 5 3 6 3 0 Breweries — Carlton New Zealand Staples Tooney# Tooths Ward White Star •• •• -< 1 18 3 U a 7 1 3 1 u 8 H 6 6 6 1 14 2 13 3 7 1 4 1 14 0 14 0 15 t 0 11 0 8 6 0 1 14 2 13 2 7 1 14 (1 0 6 0 2 }8 3 7 1 4 1 14 0 34 s 9 0 9 3 9 3 2 3 5 1 16 3 0 1 18 6 0 9 0 0 G Miscellaneous— Allied Motors Amalgamated Wireless (contr.) .. Australian Distillery Australian Glaaa (cum div.) Ileath and Co. .. ■■ •« Beath »nd Co. (Is paid) Booth, Mucdonald (}>re/.) British Tobacco .. . . Canty. Farmers' Co-op. (lim&rv) ("A" pref.) •• Colonial Suijar DJ.C. (10i> paid) Dunlop Itubber .. Electro. Zinc (pref.) .. .. Henry Jonea Co-op. (cum uiv.) Kvans Atlas Flour Kolden's Motor* Howard Smith Kauri Timlwr ; Mn»on, Struthere (Jt'l paid) Mt. Lvell (cum div.) Urus Co. .. N.Z. Farmers' Co-or>. '"'B' prcf.) N.Z. Farmors' Fertiliser North Canty. Co-op. Flour Quill. Morris Weeks, V-d. .. 10 7 0 17 6 13 I « 17 8 0 5 0 0 8 6 3 0 8 41 0 0 1 1 0 0 14 » 1 6 9 1 0 0 I 10 0 0 H 0 0 10 0 0 18 0 1 9 3 8 S 0 0 10 10 0 14 3 0 3 1 0 1 I 1 9 0 7 0 4 2 0 Q 6 41 1 1 3 0 IS 1 7 1 10 0 IS 0 IB 1 0 0 13 1 9 3 4 2 0 I 1 1) 10 0 14 0 0 6 9 0 0 0 7 6 0 9 0 4 0 0 0 0 3 & 0 c 0 0 3 0 0 3 1 19 0 14 1. 6 1 8 0 18 0 17 0 13 0 9 1 9 S 3 3 8 o 19 0 10 6 3 4 5 0 6 0 0 0 0 0 0 0 9 1 10 0 0 « 10 0 S 3 3 I Ci 0 15 0 17 8 0 14 0 1 o a 3 6 0 2 9 0 JOS 0 13 1 4 3 7 1 10 0 8 3 7 3d 35 1 1 1 ' 1 16 I 16 J 14 1 9 1 4 0 18 2 4 3 14 1 1 0 17 0 9 6 e 1 3 0 6 0 e 0 6 9 9 0 & c 0 c Mining— Kildare 't Okarito Stoncy Creek (6d pai/1) Cornish Point (la paid) 0 9 « (prem ) 0 0 4 0 0 7i li 'J 0 S 0 0 0 1 6 0 G G 0 " 4