COMMERCIAL

Press, Volume LXXXIX, Issue 27040, 15 May 1953, Page 13

COMMERCIAL

STOCK EXCHANGES MARKETS ACTIVE' AND FIRM TO FIRMER Markets on the whole continued ■■ firm on the Christchurch Stock Exchange yeaterday. and a good vbhtme of business was transacted in a wide raDgeof stocks. Price gains outnumbered losses. Buyers were in the market tor 17 issues of Government securities, but sellers appeared for only one issue. Further firming took place In offers for several frozen meat stocks, notably C.F.M. preferences, which were Sought at £6 ss; an advance of’ ss,' But the only idler quoted was for New Zealand Refrigerating los paids. Tlmara Gas shares were wattteff freely, and although buyers raised theft-bids by «d, no sellers appeared. New ‘Zealand Insurance enjoyed a revival of interest, buyers appearing 2s 6d at £5 Ks, and there was a reported sale af «5 15s 3d. Buyers for New Zealand Farmers’ Cooperative first preferences lifted their bids by 3s «d to £6 3s fid without attracting sellers’ attention. A rise of Is on buyer’s quotation carried Wright, Stephenson ordinary shares to 57s—the highest point since last August. There were better buyers for both issues of Northern Steam, offers for the ordinaries advancing 5d to 10s 3d, whilst the preferences rose 2d to 10s. Woollens were perhaps the most buoyant section oh the day, and buyers quoted freely at further advanced rates. Thus buyers' quotations for Felt and Textiles (Australia) rose 2d to 31s 6d. Kaiapoi preferences 3d to 22s 3d, Mosgiel fid to 48s 6d, and Tjmarus 3d to 22s 3d. Buyers were in the market for 10 woollen issues, but not one seller appeared. Buyers for New Zealand Forest preferences rose 3d to 14s 9d, but sellers remained reticent. Woolwqjths (N.Z.) ordinaries were wanted 3d up at 18s 3d. but the reaction of sellers was to harden their price by Id to 18s Dd. DOMINION TRANSACTIONS CHRISTCHURCH

AUCKLAND Sales.—ls/5/53-56, 3 per cent. (£9475), £96 7s fid; 15/12/53-58, 3 per cent. (£200), £97 19s; 15/1/53-57, 31 per cent. (£600), £99 10s; Bank of N.S.W. (22). £3l 15s; Balling Breweries (200), 22s 3d; Dominion Breweries (200), 68s fid; N.Z. Insurance (550), £3 15s; Wright, Stephenson (50), 57s 6d; Berlei (300), 25s fid; Broken Hill Proprietary (100), 355; Fletchers (800), 27s «dt Coles (200), 14s Id; Greers (200), 255; Reid Rubber (200), 12s; Santord (600), 7s; Toppa Ice (2001 5s 3d; Woolworths, Ltd. (400), 13s 9d; Woolworths, South Africa (400). Ils fid, and (500), Us; Wm. Cable Holdings (200), 26s IJd. WELLINGTON Bales.-2f per cent., 1/10/53 (£2000), £100; 3 per cent,, 1867-60 (£300), £95; Wright, Stephenson (250), 97s fid; Wormaid Bros., pref. (300), 10s 9d; 3 per cent., 1965-58 (£1900), £96 10s; 3 per cent., 195760(£500), £93; 3 peg cent., 1859-81 (£300), £93 19s: 3 per emit., 1980-62 (£800), &VZ 12s fld; South British Insurance (500, 2 sales), 50s 9d; Dalgetys (500), ite; Wright Stephenson (50), 57s 64; A.C.I. (200), 36s fid; G. J. Coles (200, 3 sales), 14s; J. Gadsden, ord. (150), 255; John Duthie Holdings (100), 32s fid; Black and White Cabs (400), 7s 9d; Mackintosh, Caley, Phoenix, contr. (100), Ils 6d; 3 per cent. 1957-60 (£1300), £99; Christchurch Gas (290), 16b 3d; W.F.C.A., pref. (179), 18s 9d; Union Steam, pref., cum (1000), 295; Taupo Totara, new (133), 35s 3d; Fletcher Holdings (300), 27s fid; Woolworths N.Z. Prop., pref. (100), 21s lOd; Nelson C.C., 34 per cent., V4/66 (£200), £9l; G. J. Coles (100), 14s. DUNEDIN Sales.—3 per cent. Stock, 1869-61 (£200), £93 12s 6d; Coles (290), 14s Id; Woolworths. N.Z. (900, 3 sales), 18s. Sales Reported.—Coles (250), 14s Id; 2 per cent, 15/2/55-98 (£900), £O6 10s; 3 per cent., 15/7/83-«4 (£1200), £9l 12a 6d; 3 per cent, 15/11/52-60 (£600), £96; Broken Hill Proprietary («0), 35s lid; Commercial Bank, ord. (800), 17s 8d; Dominion Rubber (200), 225; 3 per cent, 1/8/54 (£800), £99 10*: Wright, Stephenson. ord. (200), 57a Bd; KPNJZ. Drug (SO), £5 4*’ N.Z. Refrigerating, contr. (1000, 2 sales). 15s Bd; Booth, Macdonald, ord. (30), 40s fid. Unlisted: Mackintosh, Cale/, Phoenix, contr. (171), Us 6d. OVERSEAS EXCHANGES SYDNEY Most sectton* of the sharemarket on the Sydney Stock Exchange remained steady yesterday, in spite of some renewed uncertainty which produced an excess of price fall* over rises. Sale*.—Commercial Bank Of .Sydney, £2l 6s; National Bank, 12s 6d paid, ex dividend, 19* 6d; Bank of New South Wale&_ex dividend, £36 12s 6d; TOoheys, 275; Tooths, ex Dividend, 69s 3d; Asso-

dated News, 14a 4d; Australasian Paper. 17s Midi A.CJ., 43s M; British Tobacco. 34s 6d; Broken Hill Proprietary, ex dividend, 41s 6d; Colonial Sugar, ex dividend, £43 2s 6d; Drug Houses, 33s l|d; G. J. Coles, 16s 9d; New Zealand Forest, 12s 2d; Woolworths, 16s 6d; Emperor. 10s Sd; Mount Morgan. 22s 9d; OU Search, 2s 3d; Goldsbrouth, 37s 9d. . MELBOURNE The undertone of the investment market on the Melbourne Stock Exchange was steady and trading was more active yesterday. Sales.—Commercial, Bank of Australia, 21s 6d; National Bank, 12s 6d paid, 18s Md; Goldsbrough, 38s; Australasian Paper, 17s lOd; A.CI." 43s 8d; Bradford, 34s 9d; British Tobacco, 34s 9d. Broken Hill Proprietary, 41s 6d; Dunlop, 295; Electrolytic Zinc, 28s 8d; G. 3. Cbles, 16s 10d; Herald. 15s; 1.C.1., 34s lid: Woolworths, 16s 8d; Mount Lyell, 18s 9d; Emperor, 10s 7d.

COB, BACK, AND PONY SALE

ANNUAL EVENT AT. KAIKOURA The second annual cob, hack, and pony aS& from Dunsandel ~to Plcton. Any horses whibhwent guaranteed quiet and disptayed. breeding and show quality war* in gopd demand. Vendors’ limits in practtraHy all.cases were met by thebuyera, and., the sale, generally was successful, .total yarding of W head. « unbroken horses were cleared, and 30 of the remaining 48 were Sold. The bulk of the unbroken ..offering was from the stud o{ E. F. J. Grigg (Meadowbank, Blenheim). Jnrfudedin.thedraft Were nine* eight months, old piebald W 1 J*ew* baM HUtes and colts. Top, prtnelnthe group was logins,- with eight colts WBMS&rfafor ponies and hacks 13 hands and oyer. SWiTS rffUS'BMBB for a four and a half-year-old bby pony gelding of 144 hands which had a good show record. B.J. Morrison (Blenheim) obtained 40gns for an eight-year-old gelding of 14.2 hands, and a five-year-old chestnut gelding, owned by Miss Joan Bennett (Blenheim), brought 35gns. In the pony section. P. Sweeney (Kaikoura) realised 38gns for a two-year-old roan Ally of 10 hands. A prominent Cheviot breeder. E. Upritchard, sold a 10-year-old chestnut pony mare of 13 hands for 2Sgns. Two of a group offered by F. Martell (Seddon) realised 25gns and 20gns. Both were pony geldings, of 13 years and seven years, one of which was broken to saddle and harness. A three-year-old cream pony (13 hands') offered by A. A; Boyd (Kaikoura) brought 25gns. A registered rising two-year-old chestnut filly from the stud of J. W. Douglas (Blenheim) reached 30gns, and Alastair Douglas sold a rising three-year-old black pony colt for SOfgns. COMPANY NEWS TERMS OF DALGETY’S NEW ISSUE (N.Z. Press Association—Copyright) LONDON, May 13. Underwriting is in progress for an issue by Dalgety and Company, Ltd., of 2,400,000 “B” ordinary shares of 8s each at par. Subject to the passing of the necessary resolutions at an extraodinary general meeting on June 11, Issues will be made by way of right to holders of existing ordinary shares on a basis of two new shares for every five shares, held. Registers will be closed for this purpose from June 2 to 11. Opportunities will be given to shareholders on branch registers in New Zealand and Australia to pay for new shares in local currency at the current rate of exchange. [The Christchurch Stock Exchange was advised of the proposal, yesterday, in a cabled message which read as follows: •‘Dalgetys propose writing up their shares, ex reserves, to 8s paid, and offering new 'B‘ shares, of 8s (sterling) each in the proportion of two for five?'] Bycrofts’ Good Year,—A rise of £4660 to a peak of £23,666 in net profit is reported by Bycroft, Ltd., for the year ended March 31. This is £3391 above the previous peak of £22,073 two years ago. The latest result is reached after providing for taxation and transfering £6OOO to the depreciation and obsolescence reserve. General reserve rose by £7755 to £90,700. Building and plant increased by £107,402 to £320,762.—(P.A.) Wilson Malt Extract.—No dividend.will be paid by the Wilson Malt Extract Company. Lt.d. for the year ended February 28. A trading loss wae shown for the first half of the year, the chairman of directors (Mr W. Anderson) told the annual meeting of shareholders yesterday, but trading had Shown a considerable Improvement in the second half. Net profit for the year was £1942 on a turnover of £140,000.—(PA.) GROCERY NOTES

Business during the last week has been reasonably brisk for locally-canned good*. Canners are still delivering canned and green pea* to toe merchants, who are distributing these good* a* soon a* .they are able. Baked bean* and spaghetti are selling well and indications are that stocks of these will be tn good supply for the immediate future.

Macaroni Price Advance*.—Locally manufactured macaroni ha* now increased by Is 2d a dozen for 11b packet*. Spaghetti in Packet*.—A spaghetti made in New Zealand will in future be dearer by Is 2d a dozen 11b cartons. Tuna.—Norwegian fish canners have for United States, where in some cases it 1* called the “eftieken of the sea.” Shipments of the Norwegian tuna are expected in Christchurch very shortly and should meet with, a very keen demand, as ha* already prbved to be the case in the North Island. The shredded tuna in 4oz tins is expected to retail about 1* 9d a tin. Vermicelli Increases in Price.—The makers of a well-known brand of vermicelli have announced that 11b cartons have advanced in price by Is 2d a dozen. Peanuts.—Shelled peanuts are scarce at the present time on the local market. This may be accounted for, in toe first case, by the erratic trading of the Indonesians, from whom the bulk of the peanuts came in pre-war years. However, during recent times South Africa ha* entered the New Zealand market with good peanut* at reasonable prices. Competition 1* keen amongst agents for merchants’ business. At present South African prices are being quoted for July shipment, and some merchants already have stocks on the way.

WANGANUI WOOL . ? ; ' SALE

SLIGHT EASING ON , ’ NAPIER < COMPLETE CLEARANCE ?; AT; AU CTION VM«W Zeakwwl Pros* Fieecd wools on a ™ local growers. this papier gate*. ’ A line of tojt Down SWVW at auction* eteawftaee.' prices were in advance ci latest London rates, and growers lexpFeased aattametim; that, although they had to wait for the last wde, they received higher pricsa foan they ft.. W paying well for it. „ , . Wanganui Woolbrotar*' Association S’A’&JVtaSl XLSra fleece wools slightly in sellers’ favour. The report continued: “There was a good demand for Down crow lamb, but all other sold well at recent rate*. A line of binned halfbred made 724 d.” Following is the range of prices:— d. d.

LONDON WOOL SALES SLIGHT WEAKENING IN HOME DEMAND market Irregular AT TIMES (N.Z. Press Association—Copyright) LONDON. May 13. A report issued jointly by the Committee of London Woolbrokers and the London agency of the New Zealand Wool ' Commission states that 12,731 bales were catalogued at the London wool sales on May 13. of which 10,510 bales were from New Zealand. Nearly half this quantity comprised sllpe wool, while some 4000 bales were greasy wools, and about 1000 bales of scoured? were also available. Virtually all the greasy clips were in crossbred qualities from the North Island, most districts of which were represented, and the selection was generally of average-to-good style. On this occasion the Continent was the principal buyer, although considerable quantities were still taken by the Home trade. The tone of the market was quieter than at the previous sales last Friday, and bidding sometimes less confident. As a result, prices showed some signa j>f irregularity, especially for pieces and bellies and for more Inferior fleece. On the other hand, a small weight of South Island fine crossbreds of 52’s quality to M's quality sold strongly, and were 2tt to 5 per cent, dearer. .

Medium Crossbreds Very Firm Competition for scoured New Zealand wools was strongly maintained, with Merinos, halfbreds, and fine crossbreds tending against the buyer, 'while medium crossbreds were very flrm. The market for sllpe was irregular in that diiring the early part of the sale competition was restricted, with the result that withdrawals were considerable. inferior grades attracting poor blds. Towards the close, however, a change developed, and some consignments of lambs just sufficiently long for combing met keen competition at prices above last Friday's levels. There was also some improvement in competition for seconds. Yorkshire was the principal buyer of Australian Merinos, the majority of which comprised good style consignments from New South Wales. They sold very strongly at prices generally 2& per cent, deafer than at previous sales.

Continental Demand Undlmlnlshed The principal feature of the market for greasy crossbreds was the slight weakening In demand on the Home trade account, as a result of which the Continent, the demand from which is undlmlnlshed, became the principal buyer. Bradford, topmakers have substantial commitments on their books, and delivery dates for new business stretch into the latter part of the ye The more distant outlook is rather difficult to analyse, and the trade appears more anxious to work-off existing. contracts thah to lengthen their order books still further. At the same time it would be wrong to suggest that demand Is in any way Seriously impaired. Buyers know full well that the end of the selling season for New Zealand crossbreds Is close at hand. Stocks are needed to bridge the Interval before next season's clip is available, and, as a result, virtually all clips offered were sold under the hammer. South Island Clips The committee of London Wool Brokers, reviewing the wool sale resumption, states that once again high prices were paid tor South Island scoured Merino clip wools, although the selection was not as good as the style of the dip offered last Friday. „ . Nine bales of 66’s„ quality branded Lake M from South Canterbury realised 144 d while 143 d was paid tor four bales branded Glenfalloch and for nine bales from the Otematata Station at Kurow. Pieces branded The Lakes from North Canterbury brought 132 d, bellies tn this consignment realising 125 W, While crutchlngs in the Lake M consignment fetched H4id and locks 105Jd. Record Price for Shorthom.-A Naw SSSSTUSSSTi -5W&.» ported sire, realised 315gn*.—(P.A.) Feed Imports Restrictions Utted.Britain has abolished the detailed restrictions on the amount of food which might be imported ag a personal effect without licence by passengers arriving from all countries by sea and air. The exception is uncooked meats.—London. May 12.

Sales on ’Change Listed £ 8. d. Var’n. C.F.C.A. (250) i.‘ 1 6 S M.K. Manufacturers (200) 0 13 3 N.C. Sales Reported, Listed N.Z. Govt. 3 p.c. Stock, 1961-63 (£2000) 92 0 0 A. and N.Z. Bank, cum (150) E., S., and A. Bank (93), . late sale Wednesday . Balling Breweries (200) 1 13 0 N.C. 4 17' 6 — 1 3 3 N.C. N.Z. Insurance (300) .. South British Insurance 5 15 3 4-3d (250) 2 10 9 —9d (200) 2 11 0 ~6d Aust. Con. Indust. (200) 1 16 6 +1/Fletcher Holdings (200) 1 7 6 —lid Fletcher Holdings (300) 1 7 71 N.C. G. J. Coles (200) McKenzies, Ltd. (400) .. 0 14 1 N.C. 0 13 +3d Reid N.Z. Rubber (200, 0 12 300) 1 - 2d ; Win. Cable Holdings (200) Woolworths, Ltd. (300) .. 1 6 0 13 U 10 +41d + ld

CHRISTCHURCH QUOTATIONS Buyers Sellers < s. d. £ 1. d. N.Z. Govt21 p.c., 1/10/53 .. 99 15 0 MM 2} P.C., 15/8/54 .. 95 17 6 mm 21 p.c.. 15/6/54-55 .. 97 15 0 mm 2J p.c., 15/5/86-56.. 95 15 0 mm 3 P-C- W51-M .. 99 7 3 p.c., 15/9/52-55 «. 95 5 6 0 mm 3 P.C., 15/5/gtM .. 98 5 0 mm 3 p.c:, 15/12/53-56 .. 97 15 0 mb 3 px., 15/2/55-58 96 5 0 osm 3 px., M/6/S9-61 .. 93 10 0 M 3 P.C., 15/4/60-83 .. 92 0 3 p.c,, 15/7/81-63 92 0 0 0 — 3 p.c., 15/7/63-64 .. 91 10 0 MM 31 p.c., 15/1/56-59.. 97 0 0 mm 31 PX. 22/5/80 ..98 0 0 98 10 0 4 pc., 15/6/52-56 ..101 7 . 4 px., 31/5/54-58 . . 101 10 6 0 MM Other Debenthrw— Wellington City, 31 „ . l/H/63 !.< 96 15 0 91 10 0 A. and N.Z.. C.d. ., 113 0 1 13 6 Comm, of Aust. .• 0 17 10 0 18 3 E., S., and A. .. 4 16 6 —0 Comm, of Sydney 17 0 Natl, of A’alia., x.d. _ — 0 1 *5 9 a • 3 0 3 4 3 Breweries— Ballins. ord. .. 13 3 1 2 6 Pref. .. .. 10 3 Mm New Zealand 1 19 6 2 0 0 Frozen Meat— Canterbury .. 19 0 0 MB Pref. .. .. 6'« 0 MM NJS. Beirig., 10s .. I ll Nth. Cantby. pref. 11 9 6 Smithland '*» 8 0 3 Gas— 'V.jS . ... Auckland .. — 0 6 5 Christchurch .. 0 16 0 0 16 3 • 10s paid .. — 0 6 4 Timaru .. .*13 3 Insurance— National .. 12 0 MM New Zealand •• 5 15 0 South British .. 3 11 6 ean Standard * .. 3 19 Loan and Agency— 0 — C.F.C.A., ord. .. If 6 3 1 6 9 Dalgety .. .. 0 10 0 0 10 3 Golds. Mort. .. 1 10 3 MM Invincible Bldg. „ -r 4 19 0 Comm, of Sydney.. 17 5 0 Mutual Benefit 1 5 0 MB Nat Mort. A. C.d. 0 7 6 o *’ 9 B. c.d. .. .. 117 10 118 3 N.Z.F. Co-op. .. 0 11 6 MM 1st pref. ... 6 3 6 “A" pref. .. — 4 13 6 41 px. Stir. '60 .. 95 5 0 MBB 41 p.c. Sth. ’55 .. 95 5 4* p.c. Stk.. '59 .. 94 10 N.Z. Guarantee .. 0 3 0 0 1 94*0 0 Perm. Invest .. 10 17 6 MM F. Trustees, c-d. .. 2 3 6 —B SI. Finance ..14 3 United Building .. 0 17 6 0 18 S Wright, Stephenson 2 17 0 MM Pref. ..12 9 OHM ShippingNorthern .. 0 10 3 •M* New .. .. 0 10 0 MW Union, pref. > *. ’ — 1 5 0 TimberKauri .. .. — 1 4 0 Parker, Lamb .. 0 5 9. M Woollens— Bruce .. 114 u Felt and Textiles

* Buyers. Sellers. £ s. d. £ s. I. (Aust.) 1 1 6 MB Kaiapoi 1 2 0 ■M Pref. 1 2 3 ■MS Lane, Walker, Rudkin 2 15 0 MB Pref. .. 1 2 0 MB Mosgiel .. .. 2 8 6 MB Tlmaru 1 2 3 •MB Wellington 8 12 8 «M Pref. 8 12 6 ■M Miscellaneous— Amalg. Batteries .. 1 4 0 MB Andersons, 1st pf., x.d. 1 1 0 MBB Aust. C.I. . 1 18 0 1 17 8 Aulsebrook, pref. .. 1 2 1 •— Aust. F. Invest. .. 0 4 8 Bb. Avon Metal Mb 0 18 0 Beath and Co. 2 3 8 MM. Berlei Industries .. i a 0 MM Booth. Mac. — 0 4 10 British Tobacco .. 1 8 3 1 9 0 Broken Hill Pty. .. Claude Neon. N.Z. 1 15 0 1 19 6 2 1 9 ■MB Colonial Sugar, x.d. 36 5 0 37 5 0 Dom. Builders Dom. Feri,' c.d. .. 0 11 0 BM 1 n 6 MB xDonaghy’s Rope .. 2 11 9 MB D.I.C., pref. 1 ? 8 MSB* Dunlop Rubber .. Electro. Zinc, ord. 1 4 3 1 4 9 1 3 6 1 4 8 Pref. mb 1 4 0 Fletchers 1 7 6 1 8 0 B pref. .. 1 1 8 1 1 9 Frozen Products .. —— 0 7 0 G. J. Coles 0 14 1 0 14 3 Greater Crystal .. 1 0 0 1 2 8 Hallensteins 1 7 1 M H. Berry .. 1 1 9 BM. Hay’s 3 7 0 Mb Humes, N.Z., pref. I.C.I., A., N.Z. .. 1 1 3 1 1 9 1 9 0 MB J. Gadsden 1 5 0 MB Pref J. J. Niven 1 1 6 MB 2 18 0 Mb New .. 2 14 8 •MM K.P. Drugs a 4 0 ■ MB Maling, pref. .. MB 1 1 0 McKenzies 0 13 6 0 13 9 Metters, N.Z. ** 0 9 3 MB Milbum Lime «M 1 3 8 M.K. Manufac. .. 0 13 0 0 13 3 Natl. Electric 4 8 0 . mm N.Z.F. Fert. 1 17 0 ‘ MB Pref. 1 3 0 ■MB N.Z. Forest Prod. 6 B 11 MM> Pref 0 14 9 MM N.Z. Newspapers .. 2 3 6 «BM N.Z. Paper Mills-.. Norvic Shoes Otago Daily Times Quill, Morris „ .. Reid N.Z. Rubber, 1 1 0 aw 0 17 8 1 0 0 2 4 1 0 3 0 •J 9 ord. .. •. 0 12 0 • MB Pref 0 17 3 MM Sharland .. 2 4 0 BM Smith, S„ pref. .. MB 1 1 0 Simpson, Williams 2 18 0 MB Skellerup, pref. ... 1 9 0 ■M Tingey, pref, i .. Turnbull and Jones 1 4 1 15 0 0 «M Weeks, pref. 1 1 9 •M Whakatane, ord. .. 0 17 3 •HM Pref 1 0 8 MS Contr. .. 0 4 0 MM» Whit, and Tombs .. 0 19 9 1 0 6 Wm. Cable 1 5 9 M W. Cement, new .. 0 12 0 0 12 2 W’worths. ord. 0 13 9 0 13 10 (N.Z.), ord. pp.. pf.i •• 0 18 3 0 18 9 1 1 9 ■M W. R. Cooke 0 7 6 M Australian Mining— Motmt Lyell 0 15 6 0 IT 0Grey River 0 1 10 0 3 7 UNLISTED Amur! Lime >. 8TOCK8 1 0 0 Andrews and Beaven, pref. A. ana B„ new 1 1 1 1 4 0 1 2 0 ; Beeths (la paid, 19s deposit) Canty. Seed 112 6 113 « Carbonic Ice . < 2 17 0 3 2 6 Christchurch Press 11 0 0 MS Mack., Caley, Phoe., con. 0 11 0 MB J. C. McClelland .. ,B*M 0 5 9 National Tobacco .. Prudential Building 0 18 6 1 ”o 3 Reece, Ltd., E., pf. Scales “B” pref. .. 0 11 0 BM 0 16 0 Rink Invest .. eMs 111 0

Southdown. 58/80 s— Good to super to Average to good •• . • 60 to 82 Average 54 to 22* Inferior Fine Down Crossbred, 58/M s— 50 to 52 Average to good .. 621 to 65 Average .. •• • • 58 J to 61 Inferior 53 to 56 Extra Fine Crossbred, 52 s— to Average to good .. 54 57 Average ... , .. . Fine Crossbred. 50 s—, 51 to to 52) Average to good .. 54 55) Average 49 to 52) Inferior •• •• • • 46 to 48) Medium Crossbred, 48/50’s— 56) Good to super .. • • to Average to good .. 51 to 54 Average .. .. • • 48 to 50) Inferior .. •• Crossbred, 46/50 a— 45 to 47 Average to good •• »• Bl to 52) Average .. .. .. 48 to Inferior 45 to 47) Inferior to seedy .. Coarse Crossbred, 46/48 s— 42 to 44) tv Good to super .. «• X 1 & Average to good... to to 53 Average 47 49) Extra'fine Crossbred* Hogget. 45 to 46 50/56’sAverage to good •• 58 to 60) Average S3 to 57 Inferior 49 to 51) Extra Fine Crossbred Hogget. 52’s— Average to good *. Average .. Second-shear Fleece, 46/50’s— 54 51 mi to to 551 53) Good .. • • • • to 56 Average 48 to 51Inferior 43 to 47 Lambs Down CrossGood to super .. 88 to Average 58 to 63 Inferior ., • • • • 50 to M Seedy .. .. ■ Medium Crossbred, 48/50’s— 44 to 48 Super to 64 Good Average .. .. • • $8 to to 58 jy Inferior .. • • • • 44 to 46 SwonZ Lambs, 48/50’s— 38 to 42 -471 Good .. •• 44 to Average •» 42 to 43) Inferior .. • • 38 to 40 Necks * Crossbred, 48/50’S— Average .. .. -• 49 to Inferior .. . .. 44 to Seedy 38 to 40 Pieces Crossbred, 46/50’s— Average .. 42 to 45 Inferior •• •• 39 to JJi Seedy .. ' Bellies 33 to 88 Crossbred, 46/50's— s* Average Inferior ■ »• 38 32 to to Seedy ., 30 to 31} Crntchinge Crossbred, 44/48’s— Average to good .. .. 42 to 48 Average 39 to Inferior .. • • • • 32 to 37 Seedy .. '. .. Tl to 30 - Crossbred, 46/50’s— Average .. v 81 to 34 Inferior 34 to 36 ■