U.S. INVESTMENT IN N.Z.

Press, Volume XCIII, Issue 27987, 6 June 1956, Page 17

U.S. INVESTMENT IN N.Z.

PROSPECTS DISCUSSED BY SEARS-ROEBUCK OFFICER

(New Zealand Press Association) AUCKLAND, June 5.

Sears-Roebuck.- the world’s largest department store concern, which is investing £1.000,000 in Australian chain stores, may “some day” put money into the New Zealand retail trade the firm’s personnel counsellor. Mr S. Walters, said in Auckland today. “But at this stage that is only conjecture,” he added, when interviewed on board the Orsova. “Some of us Americans think that New Zealand would be a very good country for American investments,” Mr Walters said. STOCK SALES TEMUKA "The Press’ Special Service TIMARU, June 5. Taken overall, quality was poor in the small yarding of fat cattle at the Temuka stock sale today, but values appreciated fully £5 to £6 a head for the better class beast. An average penning of fat lambs and fat sheep met firm competition with values appreciating for better quality ewes and fat wethers. Tailend lots comprised the bulk of the small offering of store sheep, but, under firm competition, values showed little change. Values were:— Fat Cattle.—Fat steers, good, £3l 2s 6a to £35 12s 6d; light to medium, £8 12s 6d to £22 17s 6d. Fat heifers, good, £2O to £2B 12s 6d: light to medium. £7 2s 6d to £l5 7s 6d. Fat cows, good, £lB 2s 6d to £22 7s 6d; light to medium, £lO 2s 6d to £l4 2s 6d. Fat Sheep and Lambs.—Fat wethers, good, 76s Id to 82s lOd; light to medium, 64s lOd to 72s lOd. Fat ewes, good. 41s lOd to 50s Id; light to medium, 18s to 24s lOd. Fat lambs, good, 56s lOd to 61s lOd; light to medium, 48s Id to 52s lOd. Store Sheep.—Wether lambs, 33s 6d to 40s. Full-mouth ewes, to 365. Rape ewes. 10s to 21s 6d. ASHBURTON A small yarding of fat sheep was offered at the Ashburton stock sale yesterday. It comprised mainly ewes which met with a ready sale, and two-tooth wethers, the majority of which sold poorly. Store sheep were not in demand and several pens were passed in. Fat two-tooth wethers sold from 58s Id to 60s for light wethers, to 68s Id for medium grade and up to 78s Id for prime quality. Fat ewes sold from 61s Id to 63s Id for two-tooths, 35s Id to 44s Id for fourtooths, full-mouth ewes from 29s Id to 43s Id, freezing ewes from 33s Id to 42s Id. Fat lambs sold from 42s Id to 60s Id. In the store sheep section ewe lambs ranged from 28s to 675, wether lambs 34s to 41s, w.ethers from 62s to 645. MINING Clutha River.—Operating at Alexandra for the week ended June 1. the dredge worked 122 hours and recovered 106 ounces.—(P.A.) Frozen Meat For Russia.— One of the largest shipments of frozen meat yet to leave New Zealand for Russia will shortly be shipped to Leningrad in the Rippingham Grange. Approximately 4250 tons of ewe mutton drawn from most freezing companies in New Zealand will be taken, and a substantial tonnage from local exporters win be loadea at Timaru next week.

LONDON METALS MARKET

(N.Z Press Association—Copyright) LONDON, June 4. London metals market quotations today were:—

Gold—£l2 9s 72d per oz. Coulls, Somerville, Wilkie.—The 2J per cent, preference dividend for the six months ending June 30 la payable ex June 28.—(PA.).

Buyers Sellers £ s. d. £ s d. Spot 295 0 0 295 10 0 Forward 295 10 0 296 0 0 11 1 < Spot 724 0 0 725 0 0 Forward 723 10 0 724 0 0 Le'’d j Spot 109 15 0 110 0 0 Forward 107 0 0 107 10 0 Zinc Spot 91 15 0 92 0 0 Forward 89 15 0 90 0 0 Silver —Spot, 6s 7d per fine oz; forward. 6s 6%d.