SHEEPSKIN PRICES RISE

Press, Volume LXXXIX, Issue 27050, 27 May 1953, Page 14

SHEEPSKIN PRICES RISE

VALUES AT AUCKLAND SALE <New Zealand Press Association) AUCKLAND. May 26. Stronger and wider competition at the Auckland auction today restored prices for dry and salted sheepskins to the high levels ruling at the end of March. Fullwoolled dry skins sold up to 47Jd per lb, while corresponding salted skins made up to 34s each. Hide prices showed irregular movements, when compared with values of a fortnight ago. but the market retained its basic strength. Top yearling hides sold up to 393 d per lb, compared with 404 d a fortnight ago and the high level of 433 d at the end of March.

STOCK SALES

TEMUKA "The Press" Special Service

TIMARU, May 26. All sheep sections were filled at Temuka today, with values for fat lambs and fat sheep holding firm according to quality. Store values showed a slight easing. Best quality beasts held firm in the average yarding of fat cattle. Prices in the store section showed no change. Values were : Fat Cattle.—Steers: prime, £37 2s 6d to £43 17s 6d; light to medium. £27 2s 6d to £3l 12s 6d. Cows: prime, £25 7s 6d to £34 7s 6d; light to medium, £l4 to £2l 17s 6d. Heifers: prime, £32 2s 6d to £36 2s 6d; light to medium, £l7 2s 6d to £24 17s 6d. Fat Sheep and Lambs.—Wethers: prime, 76s Id to 80s Id; light to medium. 56s lOd to 67s Id. Ewes: prime, 45s lOd to 57s 4d; light to medium, 33s Id to 40s Jd. Lambs: prime, 72s lOd to 80s Id; light to medium. 43s 7d to 62s 10d. Store Sheep.—Wether lambs: best. 46s to 51s; small, 25s to 36s 6d. Romney ewe lambs, 51s to 695. Two-tooth wethers, 52s to 575. ASHBURTON As there will be no sale next week; a double market was held at the Ashburton weekly stock sale yesterday. Rates, for heavy wethers were back by 2s to 3s“ a head in a large fat section. Better type ewes sold well, but there was little demand for the poorer classes. There was a good entry of store sheep. Extra prime fat wethers sold up to 77s Id, a line offered by E. C. and H. White" of Eiffelton, bringing from 74s Id to 77s Id. Prime brought from 62s to 695. and medium sold up to 60s. Ewes firmed at late rates. Prime ewes fetched prices from 44s Id to 47s Id. medium from 37s to 40s, and light from 32s to 355. Lambs sold up to 70s Id.

In the store sheep section a line- of 35 ewe lambs brought 675, and 53 wether lambs 455. A line of 85 Romney cross ewe lambs sold at 465. Ninety-six soundmouth ewes fetched 55s 6d. and 164 extra good Corriedale wether lambs offered by D. S. Studholme, of Coldstream, brought 565.

COMPANY NEWS

Dalgety’s Issue To Proceed.—The Christchurch office of Dalgety and Company, Ltd., advises that the technical difficulty .over Australian income tax having been overcome, the directors have now decided to go ahead with the new capital proposals. Notices and circulars are now being sent to shareholders. Donaghy’s Rope.—Net profit is shown at £25,519 (a fall of £462) in the accounts of Donaghy’s Rope and Twine Company, Ltd. The final distribution of is 3d a share requires £15,625, leaving £24,092 to be carried forward.—(P.A.)

Felt and Textiles (Aust.).—The company notifies a half-yearly dividend on third preference shares of 2 per cent., payable August—ex July 14.—(P.A.) New Listing.—The ordinary and preference shares of Williamson Jeffrey, LtdDunedin, manufacturing and wholesale stationers, paper merchants and printers, have been officially listed by the Stock Exchange Association of New Zealand, on the recommendation of the Dunedin Stock Exchange. Authorised capital is £225,000 in 150,000 ordinary £1 shares, and 75,000 5 per cent, cumulative £1 preference shares. Subscribed capital is £llO,OOO in 70,000 ordinary £1 shares and 40,000 preference £1 shares. Goldsbrough, Mort and Company, Ltd This company is recommending a final dividend of 4 per cent., plus a bonus of 3 per cent. This brings the total payment for the year ended March 31 to 10 per cent., unchanged.

Morris Hedstrom, Ltd.—This company is paying a final dividend of 5 per cent., making 10 per cent, for the year to March 31, unchanged. The shares will be ex dividend on June 16.

Commercial Bank Capital Plans.—The directors of the Commercial Bank of Australia, Ltd., announce that they have received the consent of the Australian Capital Issues Board to the issue of 2,105,868 ordinary shares of 10s each at a premium of 7s 6ci a share. The directors will recommend at an extraordinary general meeting to be held shortly that the authorised capital of the bank be increased from £5,000,000 to £10,000,000 by the creation of an additional 10,000,000 ordinary shares of 10s each, and. that an immediate issue of 2,105,868 of these shares be offered to stockholders on the basis of one new share for each two units of both preference and ordinary stock held. Circulars to stockholders giving full particulars of the proposals are in course of preparation.—(P. A.)