COMMERCIAL

Press, Volume LXXVIII, Issue 23587, 14 March 1942, Page 9

COMMERCIAL

STOCK EXCHANGES

CHRISTCHURCH MARKETS QUIET

Markets were quiet on the Christchurch Stock Exchange yesterday. Apart from vestibule business, the following sales were recorded:— Sales on ’Change:—loo Christchurch Gas fully paid, 22s lOd: 100 United Building Society (c.d.), 20s 9d. Sales Reported:—loo Grey River Gold Dredging. 13s 6d; 200 N.Z. Refrigerating (10s pd.), late sale Thursday, 7s Bd. Trend of Markets Government Inscribed Stock was still firm with buyers; there have been practically no sellers for any of them. Buyers of the 3 ',2 per cent, (due 22/5/60) increased their bids to £lO2 15s without attracting sellers. In the banking section, Bank of New Zealand were firmer with buyers at Jos, sellers 375. Insurance and shipping sections were neglected. The sale of United Building Society, cum dividend, at 2us !)d, is a drop of 9d on the previous sale. New Zealand Refrigerating, contributing shares, had buyers at 7s Bd. Buyers of Kaiapoi Woollen, ordinary shares, increased their bids to 18s 3d without attracting sellers. New' Zealand Breweries were slightly weaker with sellers at 32s 6d. Colonial Sugars were firm with buyers at £37 15s. sellers £4O. Buyers of N.Z. Farmers’ Co-op. stock. 4U per cent, (due 1950) raised their bids to £B4, sellers asking £B7. New Zea!and Newspapers had buyers at 31s, sellers 325. Apart from the sale of Grey River shares at 13s 6d, the mining section was neglected. LATEST QUOTATIONS

New Zealand Government Debentures—--24 p.c. War Loan, 1/8/46, b. £96 15s; 3 p.c. Ins., 1951-54, b. £9B 12s 6d; 3 p.c. Bonds, 1951-54, b. £9B 12s 6d; 31 p.c. ins., 1946-59. b. £IOO ss; 3i p.c. Ins.. 1937GO b. £lOl 15s; 3J p.c. Ins., 1953-57, b. £102; 34 p.c. Ins., 22/5/60, b. £lO2 15s; 4 p.c. Ins., 1943-46, b. £IOO 10s, s. £IOO 15s; 4 p.c. Ins., 1946-49, b. £104; 4 p.c. Ins., 1946-49, b. £lO5 15s; 4 P ; c Ins., 195255, b. £106; 4 p.c. Ins., 1954-58, b. £lO6 5s- 4 p.c. Bonds, 1949, b. £104; 4 p.c. Bonds, 1955, b. £106; Rural Bonds. 5 p.c., 15/9/47, b, £lO3 10s; War Loan, 1/10/od, b £BB 5s Municipal Debentures.— Dunedin Drainage Board. 4j p.c.. 1/4/53-56, b. £IOB IDs, Company Debentures, —Booth, Macdon* i aid, 5 p.c., 1/6/47, b. £75. Banks.— Adelaide, s, £5; Australasia, s, £8 ss; National Bank of N.Z., s. £1 IBs j 9d- New South Wales, b. £25 ss; New i Zealand, b. £1 16s, s. £1 16s 9d; Union i of Australia, s. £6 ss, I Insurance.— Standard, s. £2 19s. Loan and Agency.-Christchurch Building. b. £l7 2s 6d; Dalgety and Co.. s. £6 , ss' Goldsbrough, Mort, b. £1 3s; invincible Building, s. £4 10s; Mutual Benefit, S. £ls 10s; National Mortgage A, o. £1 16s; United Building (cum div.), b. £] Os 9d, s. £1 Is 3d, Frozen Meat Canterbury, b. £lO, do. (pref.). b. £6 7s 6d; N.Z. Refrigerating {£l paid), s, 18s 9d; do. (30s paid), b. 7s Bd, s. 7s 9d; Southland, s, £1 14s; Waitaki, s. £5. , _ Woollens.—Felt and Textiles, s. £1 12s; Kaiapoi (17s paid), b. 18s 2d; do. 7s paid), b. 6s 6d, s. 7s; do. (pref.), b. l«s, Manawatu, s. £1 10s 6d. , . Coal.— Kaitangata, s. £1 12s: Wts po . b. £1 3s. s. £1 3s 9d; Westport-Stockton, b. 2s 6d, s. 2s 8d; do. (pref.), b. 6s 9d, 5 Gas.— Auckland, b. ss, s. 6s 6d; Christchurch, b. £1 2s lOd, s, £1 3s 2d; do. (10s P Breweries.—New Zealand, s. £1 12s 6d, Staples (in liqdn.), s. 2s 3d; Ward (m liqdn.l, s. 6d. , , hj Miscellaneous.—Andersons (pref.), &■ 16s 3d; Beath and Co. (cum div) b. 19b 6d- Bcrlei (N.Z.), s. £3 11s; Booth, Macdonald (pref ), b. 4s 9d, s. ss; Broken Hm Ptv? *£l 12s; Colonial Sugar, b. £37 15s, s. £4O; Dominion Rubber, s. 2s; Donaghy Rope, s.. £2 19s; do. (new, fully paid), s, £2 7s . 6d; u l ‘y an ! f. Flour, b, 18s 6d, s. £1 4s; Hay s, Ltd., b. £1 IDS' do. (con.), b. £1 ss; Milburn Lime (cum div.), s. £1 15s: N.Z. Drug Co., s. £3 13s; N.Z. Farmers Co-op (Ist pref.), s. £3 4s 6d: do. (B pref.). b. £1 ss-’do (4J p.c. Stock, 1950), b. £B4; Otago Daily Times., b. £1 IDs 6d; N.Z. Newspapers, b. £1 Us, s. £1 12s; Quill, Moms (1936), b. 15s 9d, s, £1: Whitcombe and Tombs (ex div.), b, £3 12s Gd, worths (Syd„ ord.), b. Us lid, s. 12a 6d. do. (N.Z.), b. 11s 9d, s. 12s 6d, do. (N.Z.;. ( Overseas^Jstfng.— Woolworths (S.A.). s'

Minins:.—Mount Lyell, b. £1 Is. s. £1 4s; Mount Morgan, b. 6s, i s. !L. N.Z. .Mining,—Big River, b._6d, s. M. Grev River, s. 14s 3d; Maori Gold, s. Bd, MoonS Goldfields, b 2d, s 4d; Ngahere b. ss; Slab Hut (5s paid), b. 4s 9d, s. 5s 3d; Snowy River, (5s paid), (cum List. —Ass. Gold Dredg. (15s paid), s. 9s 9d; Ass. Mot. Pct ' <P r £V'j £ Gas b. Is 9d, s. ss: Mikonui (3s 6d paid), s. 3s; Paparoa Coal, s. 6s 6d. AUCKLAND Sales.—3J P.C., 1959. £99105; Auckland Harbour Board, 4 p_c., 1954. £lO5 10s, Auckland, Transport Board, 4 p.c.. 1949. £104; N.Z. Farmers' Co-op., 4J p.c., 1950. £B3; South British. 47s (2); WestportStockton, 2s 6d; Consolidated Brick, 7s, Waihi Investments, 2s 3d. Unofficial list. Silknit, 9s 6d. WELLINGTON Sales.—National Bank of N.Z., 38s 6d; 3J pc. Stock. 1953-57. £lO2 15s; Bank of N.S.W., £25 15s. DUNEDIN Sale Reported—P. and O. Stock, 29s 6d. NEW YORK STOCK EXCHANGE AUSTRALIAN ISSUES IMPROVE (Received March 13, 9 p.m.) (U.P.A.) NEW YORK, March 12. Whether it was the smashing hit delivered by the Royal Australian Air Force and American machines against the Japanese invasion fleets off New Guinea or other circumstances, can only be conjectured. but on the New York Stock Exchange to-day Australian Government issues regained favour ih the sight of investors. Practically every Australian stock showed an upward movement with a brisk demand at enhanced values. GRAIN AND PRODUCE MARKETS GENERALLY DULL There has been little life In the small seeds trade during the week. The main cause is the lack of inquiry from the North Island and abroad, and the uncertainty of shipping. Whilst this condition exists merchants are chary of making purchases which would have to be placed in store. This prospect is naturally affecting prices merchants are prepared to pay, and there has been an easing in some classes of produce. Another factor is that difficulty has developed in securing efficient labour for seed dressing plants, which is impeding the cleaning of seeds for the mar}C6l One class of produce not affected by the overseas position is ryegrass, as the crop is a short one, with little available for export. Both Italian and perennial are Inclined to firm, and are quoted at 4s to 4s 6d a bushel. . ~ White clover has eased, due to the lacic of export. Cowgrass has come on the market. The weather in the last few months has been all in favour of it, and a good yield is expected. Quotations at the moment are from 9d to lOd per lb. Cocksfoot is coming forward slowly- Quotations are from lOd to Is Id per lb. The export position is also influencing this m \Vhite oats are in good demand, which should continue, as the crop of them is unlikely to exceed requirements. Othei varieties show no change. Partridge peas, which were selling freely a week ago. have eased to 6s a bushel on trucks. This market is affected by the shipping outlook. Po^t° e ! been quoted nominally at £6 a \ 0 "- Onions are quoted at £6 10s .^°, £ JJL on trucks. It is reported that growers are finding difficulty in securing labour to harvest them. The following are quotations for produce on trucks at farmers sidings, unless otherwise stated: — , , . Wheat— (February-March interim payment), Tuscan. 5s 6d: Hunters: 5s 8d; Pearl, 5s lOd; Marquis, 6s a bushel, f.o.b. Final payment, 3d a bushel. Oats,—A Cartons (nominally), 3s 4d, B's, 3s 2d; Algerians, 2s 6d to 2s 9d: Duns. 3s 3d to 3s 6d a bushel. Perennial Ryegrass.—4s to 4s 6d; Italian, 4s to 4s 6d a bushel. ■ White Clover.—ls 9d to 2s 3d per lb for farmers’ dressed. , • • . Cocksfoot.—lOd to is Id per lb, for good lines. Cowgrass—9d to lOd. Lupins.—3s 3d a bushel. Chaff.—£4 a ton. Peas.—6s a bushel. Potatoes.—£6 a ton. Onions.—£6 10s to £7 a ton. MINING Maori Gold—The Maori Gold return for this week is 38 ounces for 120 hours and 12.000 yards treated. , Rimu.—For the clean-up period from. March 3 to March 10, Rimu Gold Dredging |

WOOL APPRAISAL FOR OTAGO

21d TOP PRICE FOR MERINO

(P.S.S.) DUNEDIN, March 13. For the fourth appraisement of the season, just completed, the offering totalled 24,478 bales. ‘The selection covered a wide range of types, representing all grades of merinos, halfbreds, and crossbreds. There was also a fair proportion of types suitable for scouring, which will result in a substantial allocation to scourers in the Dominion. The halfbreds offering were average to good, with a sprinkling of super lots through the catalogues. There were some nice parcels of merinos on offer, one or two outstanding ones bringing from 19d to 21d. A good offering of crossbreds was forwarded from all districts. In some of the clips offered there was a suggestion of dampness through protracted shearing in showery weather. The classing of a number of clips by growers, especially crossbreds, was not fully satisfactory, making it difficult for appraisers lo value to the advantage of all concerned. Skirling, generally, was satisfactory. The top price realised was 21d for two bales of extra super merino grown by George Paterson, of Gimmerburn. In fine halfbreds some outstanding lots were offered, the top price being 20d for three bales on account of Charles Mitchell, Outram. VEGETABLES AND FRUIT WHOLESALE PRICES The market report for the week ending March 13 is as follows: ■ Vegetables.—lncreased quantities of cauliflowers are now coming forward, and values are lower. All other varieties are in good supply, and prices are as follows : Cauliflowers: 2s to Gs a dozen; cabbages: Is to 3s 6d a dozen; lettuce: Is to 2s a dozen; spinach: Is to Is fid a dozen; marrows: 2s fid to 6s a dozen: pumpkins: Had per lb; rhubarb; 2s fid to 4s fid a dozen; peas; Is fid to Is 9d a peck; beans: Is fid to 2s fid a case; celery: 2s to 7s a dozen; root varieties; Is to 2s a dozen; potatoes; 4s to 4s fid a sugar-bag; onions. 5s to 6s a sugar-bag; swedes; 2s fid a sugar-bag; cucumbers: 2s fid to 3s fid a Cf Fruit.—Apples; Slightly increased quantities of Cox’s Orange are coming forward, and prices are unchanged. Values for cooking apples are a little lower than for last week. Pears: Still in short supply, and there Is no change in price. Tomatoes: Moderate supplies are available, and the market remains firm. Best quality are realising 3 3 ,4 dto Slid per lb; Other grades 2d to 3'/ z per lb. Grapes: Good supplies are coming forward, best quality realising Ts 4d to Is 7',id per lb; others Is Id to Is 3d per lb. Apricots; Supplies practically finished, realising 5s 9d to 7s 3d a case. Peaches; 3s fid to 5s fid a case. Nectarines: Choice quality realising up to 5 3 ,4 d per lb. Others, 3s fid to 6s 9d a case. Plums; Small quantities are still available, realising 3s fid to 4s 9d a case, according to variety and quality. METHVEN EWE FAIR GOOD SALE FOB TWOTOOTHS The annual Methven fair was held yesterday, (he entry of 12,582, comprising 10,414 aged ewes, 1720 two-tooths, and 439 ewe lambs, being about 1500 less than last year. The main entries for this fair come from the Rakaia Gorge, and thougn in good condition, owing to the variable conditions during spring and summer months, the mouths were not as good as those of the ewes at the Nortu Canterbury fairs. ' Bidding was scarcely as keen as at previous fairs, but considering the mouths, and also the fact that the majority of the lines were late shorn, prices on the whole were much on a par with previous rates. Competition was spirited for the best of the two-tooths. top price beihg 33s for a two-truck lot of first cross EnglishLeicester merino ewes from the estate of C. Urquhart (Ashburton Forks), the second run of 200 from the same vendor making 295. James Campbell (Westward Ho) sold 120 Romney cross at 30s fid. The feature of the four-year-olds was the annual draft of 870 from Gerard and Murray Aynsley (Bayfields), which sold from 20s to-21s fid, 470 at the latter price. The range of prices was:—Best twotooths, 29s to 335; medium to good. 25s to 28s; small and Inferior, 20s to 23s 6d; best four-year-olds, 20s to 21s fid; good, 15s 6d to 17s 3d; medium, 10s fid to 12s 9d: inferior, 4s fid to 7s 9d; best ewe lambs, 17s 3d to 23s 6d. THE SALES

Dalgety and Company, Ltd., sold for: Gerard and Murray Aynsley (Bayfields), 877 four-year halfbred at 20s to 21s 6d; 696 five-year halfbred at 13s 6d to 14s. . G. Gerard (Snowdon), 243 four and five-year halfbred at 14s to 15s; 176 fiveyear halfbred at 13s Qd. D. L. Ensor (Glenrock), 106 four-year flt 14s A. W. Urquhart (Methven), 120 fiveyear at 7s. R. C. Todhunter (Blackford), 100 twotooth merino ewes at 17s 6d. Mrs P. M. Gerard (Fighting Hill), 169 four-year at 14s 6d. A. J. Wilson (Siberia), 300 four and sixtooth at 225. 125 do at 21s; 292 fouryear at 15s; 291 four-tooth at 20s; 21a Romney cross ewe lambs at 21s 9d. Hugh Ensor (Double Hill), 492 fouryear Corriedale at 12s. R. H. Ensor (Glenariff), 370 four-year Corriedale at 10s 6d to 11s; 336 foury*/L Eh Nicholls (Pudding Hill), 197 four-year halfbred at 12s 6d to 13s; 61 three-quarterbred two-tooth at 255. L. P. Walker (Manuka Point), 173 fiveMcLeod (Methven), 89 two-tooth Romney cross ewes at 2Bs: 182 five-year at G? S G 9( Burrell (Alford Forest), 38 four and six-tooth at 19s. , J. W. M. Dart (Methven), 102 four, six, and eight-tooth at 23s fid. H. J. Freeman (Highbank), 37 twoshear at 255. _ B. R. Chambers (Wmchmore), 151 flveyejanfes * Campbell (Westward Ho) 120 Romney cross two-tooths at 30s fid. In conjunction with National Mortgage and Agency Company: L. L. Richards (Mount Hutt), 61 four and five-year three-quarterbred at 15s: 449 four-year at 17s 3d; 406 four and five-year halfbred at 13s 6d to 14s; 142 two-tooth three-quarterbred at 27s to 29s fid: 48 at 27s fid. x „ ... Estate S. E. Richards (Mount Hutt), 358 four-year halfbred at 15s fid: 170 Romney cross'ewe lambs to 23s fid; 168 five-year at 12 R. 6 G. Gerard (Rakaia Gorge), 136 three-quarterbred ewe lambs to 19s. Pyne, Gould, Guinness, Ltd., sold for: D. S. Pritchett, 140 four-year at 12s 9d; 230 ewe lambs at 19s to 19s 6d. Estate H. J. Harrison (Rosehill), 280 four-year halfbred at 16s 3d; 242 fiveB. Foil (Mount Hutt), 92 five-year (Mount Oakden), 273 fouryear halfbred at 8s 9d; 48 f. and f.m. at 4s 6d; 105 four and six-tooth wethers at Lo°gan Bros. (Winterslow),'36o four-year halfbred at 14s; 188 five-year halfbred at 10s; 134 two-tooth halfbied at 245, 121 two-tooth wethers at 18s 6d. B. Cotterell (Mount Hutt). 19 ewes at 22s 6d; 166 four-year at 12s 9d. Estate C. Urquhart (Ashburton Forks), 151 Two-tooth halfbred at 335; 32 twotooth halfbred at 235;. 200 two-tootn halfbred at 295. . , T r«\ 107 James Campbell (Westward Ho)., L-J two-tooth halfbred at 30s; 86 two-tpoth halfbred at 21s. , C. A Woolley (Lyndhurst). 130 four tooth three-quarterbred at 2os 6d. New Zealand Loan and Mercantile Agency Company, Ltd,, sold for: F. M. Collinson (Wmdwhistle), <a five-year halfbred at 8s 9d. H. Vallance (Methven), 30a five-year at 9S Estate H. J. Harrison (Rosehill), 142 ftV T." > S. a Harrison d (Drayton), 257 five-year at 9s. New Zealand Farmers’ Co-operative Association Company, Ltd.,-sold for. Estate late H. J. Harrison. 241 fivevear halfbred at 10s lid. National Mortgage and Agency Company, Ltd., sold for: Milnes Estates (Highbank), 80 halfbred two-tooth at 28s; 175 halfbred two-tootn 3t James Campbell (Westward Ho). 165 halfbred two-tooth at 25s 9d.