COMMERCIAL

Evening Post, Volume CXXII, Issue 70, 19 September 1936, Page 6

COMMERCIAL

STOCK & SHARE MARKET SATURDAY, SEPTEMBER 19, 1936. Morning Call.

LONDONIWOOL SALES MARKET VERY ACTIVE (By Telegraph—Press Absii.—Copyright.) (Received September 19, 10 a.m.) LONDON, September'lß. Catalogues offered at the London wool sales today numbered 10,856 bales, including 4707 bales of New Zealand, and -8684 bales were sold. The selection was but moderate and there were frequent withdrawals among the inferior sorts, N but others sold well to the home trade at current rates.

New Zealand slipe, halfbred lambs, "Belfast," made. 18£ d highest and Hid average.

The Bank of New Zealand, produce department, has received the following advice frorn its London office under date . September 18: —The* market is very active-and opening prices are being fully . maintained. Current quotations for wools of average condition:— super 60-64's 17d to 17Jd per lb, ordinary 60-64's, 14d to 14d, inferior 60-64's ll£d to- 12d; halfbreds, 56-58's 13Jd to 14d,'56's 12d'to 13d, 50-56's HHd to lid; crossbreds, 50's lOd to IOJd, 48-50's 9Jd. toxoid, 46-48's 9Jd to ' lOd, 44-46's Did to 93d, 40-44's 9d to 93d, 3640's 9d to 9Jd. The Bank of New South Wales has received a cable-message from its Lon- : don office, dated September 18, as follows:—London wool sales continue wtih strong general competition and good clearances are .being made.Merinos are firm and crossbreds slightly dearer. Average or estimated prices of New Zealand greasy fleeoe ordinary topmaking wools: —Merino, 60/64, 12-jd;i fine halfbred, 56/58, 133 d; halfbred, 50/56, lid; three-quarterbred, 48/50, 9Jd; fine crossbred, 46/48, 9id; medium crossbred, 44/46, '9id; crossbred, 40/44, 9id. ~..;•-. Murray, Roberts, and Co., Ltd., are in receipt of the>following-wopl market cablegram from their London agents, dated September 18:—Wool sales continue with "a good tone, competition keen. Merino, except faulty descriptions suitable for the Continent, market, shows a hardening tendency. Crossbred, par to 5 per cent; advance. DAIRY MARKETS BUTTER CHEAPER A. S.; Pater son and Co., Ltd., advise having received today : cable . advice from Messrs. J. arid J. Lonsdale and Co. (London), Ltd,, as follows: Butter.—Market easier... New;' Zealand, 105s a cwt; Australian, 105s; Danish, market slow, 103s f.0.b.; 124s landed.; Cheese.—Market steady on small available stocks. New Zealand, white, 67s to 67s 6d a cwt; coloured, 65s 6d. HIDES AND SKINS SALE AT WELLINGTON ' ■ Wellington brokers held their fortnightly , sale of. sheepskins, hides, tallow, and sundries yesterday, the usual bench of buyers being in attendance. An excellent : offering of sheepskins was submitted, and aH grades met keen competition. Values: for dry skins showed a decline of idto id per lb. Insufficient salted skins were offered to make a reliable quotation. : Cow hides again sold well, appreciate ing by 3-8 d in■ all weights.;. Medium ox advanced id, while' light and heavies, were firm. All weights of yearlings sold well, mediums advancing up to id. Calfskins; which of late have met a weak-market, firmed by id. Tallow was very firm. ' The , range of , prices is quoted below:r—Dry sheepskins: Halfbred, 9Jd to. 12Jd a lb; fine crossbred, 10id to lid; medium, lOjH; coarse, 9d to 93d; half-wools, 7d to. lOd; quarter-wools, 43d to "Bijd;. pelts,.;4d to;^6}d.' Saltedskins: Three-quarter wpolSj 3s 6d to<-7s 4d eacli. HidesY-Ox, 1 ,331b't0'441b 6d to 6 3-8 d a lb, 451b tc 5211» 5Jd to 7d, 531b to 591b 7d to 8 Wd, 601b to 691b 7id to 8 l-Bd, 701b and over 7Jd to 8 l-8d; cow, 331b to 391b 5 5-8 d to 6 3-B'd, 491b and over 5 3-8 d to 6 7-8 d; kip, 251b to 321b. 6d to 6 7-Bd, 171b to 241b 6 5-8 d to 84d; yearling, 111b to 161b, 9d to 10 5-8 d; calf, 91b to 101b 8d to 10 5-Bd, 61b to 81b lid to 13d. lib to 51b lljd to 13 5-Bd. Tallow: In casks,. etc., 20s 6d a cwt; in tins, 12s to 14s. Sundries: Cow tails, 94d ; a lb; horse hair, 20Jd.

. POTATOES CHEAPER (By Telegraph.—Press Association.) CHRISTCHURCH, September 18. Potatoes have come back about 10s a tori since the high levels reached in the middle of the week. A further shipment to South' America has been the main support of the market, but there also has been a healthy demand from Auckland, where there is some desire to cover requirements till the Pukekohe crop.' The Auckland market was at one stage rather excited and good business was done from here. All space in two ships for next week has now been taken, and this has been the main reason for the slackening in price, as buyers will not commit themselves far ahead. Quotations were wide today, but nominally whites are worth £5 15s a ton on trucks and, Dakotas £6 ss. HOGGETS IN LESS DEMAND. At the Feilding sale yesterday the New Zealand Loan .and Mercantile Agency Co., Ltd., report smaller yardings of sheep throughout. Fat hoggets sold on a par with recent sales, and fat ewes met with a firmer sale than last week. In the store pens the demand for hoggets was not quite up to that of recent sales, prices realised being slightly lower than late rates. A medium entry of fat cattle sold fully up to late values, A large yarding of dairy cattle lacked quality, prices being easier to the extent of approximately £1 ; Boner cattle met with a keen' sale. Quotations:—Fat ewes, 275, 30s, | 31s 10d, to 345; fat hoggets, 21s 6d, 235, 24s Id, 24s 9d, 255, to 26s 9d; . fat wethers, 33s to 35s 6d; ewe hoggets, 29s 6d, 31s, 32s'6d ( 345, to' 365; wether hoggets, 21s 3d, 22s 6d, 22s 9d, 235, to 24s 7d?b.f. hoggets, 19s lid, 20s 6d, to 23s Id. Store cows, 37s 6d, £2, £2 ss, to £3; fat dairy cows, £3 7s 6d, £3 15s, £4, £4 10s, to £6; fat dairy heifers, £4, £4 15s, £5 7s 6d,. to £5 15s; fat bullocks, £9 7s 6d, £9 10s, to £10; springing heifers, £3 10s, £4, £4 10s, £.5 10s, £5 15s, '£6 2s 6d, £6 7s 6d, to £7 ss; springing cows, £3, £3 7s 6d," £3 10s, £4 ss, £4 15s, to £5 17s 6d; cows in milk, £3, £3 15s, £4,55, to £6. ■■ : ■ SHEEPSKINS CHEAPER. The Christchurch Wool Brokers' Association 'reports holding its weekly skin sale oh Thursday, when representative catalogues were offered to the usual bench of buyers. Bidding was dull and lifeless and values again slipped id to id per lb for dry skins and to Is each for green. : PRICES OF METALS. (By Telegraph—Presss Assn.—Copyright.) LONDON, September 17. • The official London (middle) quotations for Thursday, as reported by the Australian Mines' an'd Metals 'Association; compare with those previously cabled as follows:

LONDON MEAT PRICES LAMB AND WETHERS FIRM The' Bank of New Zealand, produce department, has received the following advice from its London office as at close of business this market for wethers is firm. The demand and.prices for ewes are steady.:': The market for lambs is quiet -but'firm; Trade in chilled beef is slow owing to. large" supplies of fresh meat. Wethers, light 4£d to 51d per lb', heavy 4d to' 4 3-8 d; ewes, 3 5-Bd to:4 3-8 d; lambs, 2's 7 1-Sd to -7|d, Ts 7d to 7id, 4's 64d to 6 5-Bd, seconds 6 7-8 d t.0.71-8d; chilled hinds, 4|d to s|d, fores 23d..t0. 3d.

Levin and Co., Ltd., have received a cable from their London agents, dated September 18, giving North - Island frozen meat quotations as follows; Down lambs, 28-361b 7Jd per lb, 36-42 7Jd; crossbred lambs, 28-36 7id, 36-42. 7 l-8d; second quality lambs,: average 30-31, 7d; wethers; under 481b, 5 •3-Bd, 48-56 4Jd, 56-64 4Jd, 64-72-4 3-Bd;ewes*. under 481b 4 3-Bd, 48-56 4d, 56-64 3 7-Bd, 64-72 3id; New Zealand prime ox beef, 160-220, 3Jd;. Compared with last week's quotations crossbred lamb 28361b and second quality lamb l-8d per lb higher. Wethers under 561b l-8d per lb higher. Prime ox beef l-Bd_per lb higher. Others unchanged. The market is-firm. '■-".'

In order that all classes 'of retailers might meet new forms of competition on equal terms, a company has beeri incorporated in Auckland under the name of the Mutual Buyers' Association, Limited. The company has a nominal capital of; £250,000, and its objects are to introduce co-operative buying, transport, .importation, banking,, and advertising among its members, to put them in a position to compete on an equal footing with' chain stores.: ', . .;-... :".-..-.. . . . .■;'' '-'..-

MINING RETURNS. (By Telecrnph Press Association.) GREYMOUTH, This Day. The Maori Gully return was 7oz 10 dwffor 128 hours. The Argo .dredge return was 650z for 93 hours, in which 9000 yards were dealt with. • ' ■

• *■. Buyer s. Sellers. £ s. i. ■ £ s. d. N.Z. Govt. Loans— 3% p.c. Inscr. Stock, 15/3/1939-43 ....... 101 15 0 —. 3% p.c. Inscr. Stock,. 15/9/1939-43 101 15 0 '.■■'■"■■ 3% p.c. Inscr. Stock, 15/5/1939-52 -...103 5 0 ,' .— i p.c. Inscr. Stock, 15/1/1937-40 , ..... 101 10 0 102 0 0 4 p.c. . Inscr. Stock, 15/4/1946-49 ...: 105 10 0 ■ —, 4 p.c. Inscr, Stock, ' 15/6/1952-55 ' — 106 0 0 i p.c. Bonds, 15/2/ 6 '— . 4 p.c. Bonds, 15/6/ -.-. 1952-55 :.....-.:... — 106 0 0 5 p.c. Rural Bonds, 15/9/1947 102 10 0 — Other DebenturesMortgage Corpn. ... 98, 0 0 '•'—'■• Banks— 0 ;'.' — Comm. of Aurt. ■•-, ■ (o*l.) :■::. ••••■- 0 18 5 Coram. Banking Co., ' 6 ■ — Eng., Scot., & Aust.. — - 5 18 0 National of N.Z, ... —. 3 10 Nat. of A'asia (£10) . 14 5 0 14 15 0 6 1 19,3 New Zealand D Long 1 -9 6 Union of Aust 9 0 0 9 10 6 FinancialAbraham & Williams ■ 4" 10 0 Equitable Bldg. Co. .. 0 10 3 , —'' Goldsbrough, 'Mort, & Co 113 6 1.14 : 6 N.Z. Guarantee Corp.* .— 0 5, 8. N.Z, Invest. Mort. & 0 9 3 N.Z. Loan and Merc. (ord. stock) 32 0 0 40 0 0 N.Z: ancb River Plate 0 13, 9. . — ' . Ne.wton King (pref:) . ,. — o. 8; i Gas— ' ' ''..':. 0 . -.—' Wellington (ord.) ... — 1 18 ■ 6 Wellington (pref.) ■• 1 4 9 — InsuranceNational of N.Z. ... 0 18 3 — 3 3 0 i 10 0 Meat Preserving— 0 18 G NX Refrig. (£1) ... — 0 19 6 N.Z. Refrig. (10s) .. 0 9 2 — 3 16 0 Transport— Ilnddart Parker (pref.) t 16 3 — Union. Steam (pref.) , 1 6 4 — WoollenBond's Hosiery Mill's — a 19.3 0 — Prestige, N.Z. (pref.) — 14 0 Wellington (ord.) .. — 6 7 0 Wellington (pref.) — 6, 7 0 Coal— Wcstnovt • Stockton 0 3 0 0 14.0 Timber— Lcyland-O'Brien .... 1 1 9 13 0 6 0 14 C 6 — - Taupo Totara (ord.) . — 0 10 3 Breweries— 0 — 2 13 0 0 2 10 4 Miscellaneous— Anthony Hordem ... — 0 IS 7 Aust. Glass — 4 14 0 Hilt.' Tobacco (Aiif=t,)* 2 3 0 2 3 3 Broken Hill Pty. ... 3 15 6 3 16 3 Broken .Hill Pty. C 2 17 0 43 .5 0 Consol. Brick and Pipe :..... 0 9 5 0 9 8 Dominion Fertiliser . — 1 4 9. Dunlop-perdriau ...» : 0.18 1 0 18 2 Electro. Ziu,c (ord.) . 2 3 3 2 4, 0 Electro. Zinc (8 p.c. part pref.) 2 4 6 2,5 3 General Industries .. — 0 ID 6 G. J. Coles (cum, 0 4 16 Hume Pipe * 0 19 7 0 19 10 SY,. DniR * 3 15 0 — X.Z. Newspapers 119 0 — N,Z. Paper Mills .... 16 3 — Taranaki Oil ......... 0 1 1 0 16 Woohvorths, Ltd. (2nd 16 0 Mining— 0 1 U : 0 2 0 Gillespie'o Beach .. — 0-17% 0 13 Maori Gully 00 7 — 0 16 0 1 9; AustralianMount Lyell ,,,-,,, 1 9 3 1 0 7 Mount Morgan ,,; 0 12 6 0 12 7 UNOFFICIAL LIST. Buyers. Sellers £ 6. d. £ b. d. Woohvorths, Ltd. ... — 5 9 0 Woohvorths (W.A.), Ltd — 516 0 Dominion Life (6s pd) — 0 7 0 Shillings, Ltd.. (17s 6d paid) .............. 0 16 9 — Tinroff Seal Cap — 2 0 3 JoTm Fuller & Sons Debs — 82 0 0 MacDuffs, Ltd. (pref.) — 12 0 BUSINESS TRANSACTED. Sales today:— No. of Shares. £ s. d„ 600 N.Z. Gnaranteee Corp (2 0 5 7 Sales made after going to press yestorday.— No. of Shares. £ 8. d. 800 Guarantee Corp. (2 0 5 7 1 1 3 3 16 6 200 Broken Hill (2 sales) . 3 16 0 100 British Tobacco 2 2 10 *Cum Div. fEx Div. DIVIDENDS DUE. & Kalapol—ord. 5 per cent., pref. 5 Sept. 19 North Broken Hill—dividend and Sept. 21 Argo Gold' Dredge—Id per shar Sept. 21. Keinpthome, Prosser, and Co.'s N.Z Drug Company—interim SM pel Sept. 21 Renown Collieries—ord. lOd, dual pref Sept. 21 Whittome, Stevenson,. Auckland—5 per Sept. 22 Milne and Choyce, Auckland—ord. and ■ . Sept. 23. Bartholomew Timber, Hamilton--V4 per cent, and bonus \Vi per c ent. Sept Si Auckland Farmers" Freezing—6 pet Sept. 25 Nemona Dredge—Id per share... Sept. 26 Claude Neon. Australia—15 per cent. Sept. 28 Hume Pipe, Australia, Ltd.—5 per Sept. 28 Amalgamated " Pictures, Ltd.—halfSept. 30British Tobacco—quarterly, 2 per cent Sept 30 Dunlop-Perdrlau Rubber —5 per c cnt. . cum pref., making 10 per ..ent per annum; • and 5 per c ent.. Sept. 30; United Building Society, Christen urch —Interim 2% per cent. ... Oct. 1 Nestles and Anglo-Swiss Mlik—q uarteriy pref., 8 per cent. ■ .... Oct. i Slyer Emporium, Melbourne — Inal 3 per cent., with bonus of 6d per share, making 8VS per cent. per ..Oct 1 Australian Knitting Mills—final l'alf year, pref. 3%-p6r cent.; ord., 4 per- cent., making I per cent. per Oct. 2 Lincoln Mills—final pref. 5 per c ent.. Oct. 2 Bank ■ of Australasia—interim, 3 6< per share, or 7 per cent. per Oct. \ Amalgamated, Zinc (De Bavay' »')— Oct 9 G. J. Coles—interim ord., -2'4 per cent Oct. 15 Wunderlich, Ltd.—Interim half-yearly, ord. 6 per cent, per annum. 1st and 2nd pref. 6 per • cent. per annum, 3rd pref. 7 per cent. per Oct. 15 New Zealand Guarantee Corpora tlon —final 2d per share, making 3V£d Oct. 29 Imperial Chemical Industries, Lt 1.— interim 2Vt per cent, on ordinary ... Nov. 2

1 ■■■ Sept. 16. Per ton. Sept. 17. Per ton. Copper— Standard, spot Ditto, forward Electrolytic . to £ s 38 19 39 3 43 5 43 15 . d. 4} li 0 0 £ s. d. 38 16-10} 39 110} 43 5 0 43 15 0 Wire bars ... 43 15 0 43 15 0 Lead— . Forward .... 18 11 18 10 3 0 18 8 9 18 7 6 Spelter— , Forward .•'... 14 8 •14 13 9 9 14 6 3 14 11 3 Tin—' Spot ....... Forv/ard ,... 194 10 191 7 0 6 105 0 0 192 7 6 SilverStandard, per oz 19}d .. 19 7-16d 21d