COMMERCIAL

Greymouth Evening Star, 29 April 1937, Page 8

COMMERCIAL

GOLD AND EXCHANGE.

[BY CABLE- —PRESS ASSN. —COPYRIGHT.]

LONDON, April 28. Gold 14(1/6?.. dollar 492 12-16, franc 110 27-32.

WOOL MARKET' PROSPECTS

(Recd. April 29, 8 a.m.) LONDON, April 28

Dawson and Co., commenting on the wool sales, state: The heights of the prices attained were almost learsomo to make folks nervous, but all the old crossbred stocks were completely cleared The position appears impregnable. Merinos advanced to a lesser extent, but with the limited supplies and strong general demand, prices may still be buoyant. The leal test must shortly be faced at Sydney and Brisbane, when supplies are more plentiful. Meanwhile, consumption of all grades has developed at an unexpected rate. Wool stocks at most European mills are at a low level. The outstanding feature of the season has been the resumption of Russian operations. Unexpected strong support from America, also helped the market. The Home trade finds a difficulty in making ends meet, whether selling or buying, being dragged at tho heels of a strong world demand.

LONDON SALES

(Recd. April 29, 1 p.m.) LONDON, April 28

At the wool sales 9313 bales were offered including 2994 New Zealand. 6895 were sold. Active competition for a good selection, consisting chiefly of Australian merinos, of which the best sold well at full current rates, chiefly to the Home trade. New Zealand greasy halfbred Boscobel top 21Jd —average 205 d. METALS MARKET. LONDON, April 28. Copper Standard £6O 12/6, Electrolytic £62 10/- and £64 10/-, wire bars £64 10/-, Tin £256 5/- and £252 5/-. Lead £25 3/4 and £24 17/6. Spelter £24 10/-, £24 10/-, Silver £2O 8/9 to £22 1/3. ADDINGTON MARKET KEEN LAMB SALE

[per press association.]

CHRISTCHURCH, April 29. There Avas a sound demand for practically all classes of sheep, despite heavy entries, at yesterday’s Addington market. For fat lambs the demand was exceptionally keen and the export schedule of up to 9Sd for firsts was again exceeded. Recent, values were well maintained foi - another heavy entry of fat cattle. was an increase in the number of In the store sheep section there lambs offered, but a lot of them were in poor condition. Bidding for these was dragging and there Avas an allround easing of from 1/6 to 2/- a head, for both Avethers and eAves. Some fair pens of eAves made from 24/- to 25/6,' and the best of the Avether lambs a little more than 20/-. The entry of eAves Avas from 2000 to 3000 less than that of last Aveek. , Merino eAves from South Marlborough made to 15/-, and average sound-mouth halfbred -eAves to 25/6. Old eAves made

from 8/6 to 12/6. Wethers shoAved a decided firming, being up 1/- on last Aveek. Good station wethers, four and six-tooth, made from 23/6 to 26/8 for 500. Another good line of 160 twotooth brought 26/1 to 26/10. The fat lamb entry comprised 2,650 head, including several drafts from the West Coast. The sale Avas the keenest for some time, and values

showed a slight hardening on those of last week, of from 6d to 9d a head. Values were: Extra prime heavy 1 lambs, to 42/.1. Prime heav5 r lambs, 30/- to 33/-. Prime medium-weight ' lambs, 27/9 to 29/6. Medium lambs, 24/- to 27/-. Light Jambs, 20/- to 23/0. West Coast sales were: Te Kinga Land and Timber Company, 246 at 25/10 to 32/7; .1. J. O’Regan, 40 at 22/- to 33/7; Cumberford Bros., 20 at 29/1; R. Ferguson (Hari Hari), 21 at 19/10 to 23/-. There was again a heavy entry of

approximately 6,500 head in the fat. sheep section. Heavy wethers slightly more than maintained recent rates and ewes, as the result of active export competition, wore up to 1/6 a head dearer. There was a good clearance of the big entry. Values were: Extra prime l heavy wethers, to 44/1. Prime heavy wethers, 28/6 to 32/6. Prime medium-weight wethers, 26/6 to 28/-. Ordinary wethers, 25/- to 26/3. Light wethers, to 24/6. Extra prime heavy ewes, 23/- to 25/-. Prime med-ium-weight ewes, 18/6 to 22/6. Ordinary ewes, 16/9 to 18/3. Light ewes, to 16/6. The quality of the entry of 510 fat cattle was better than that o£ last week. Despite the succession of heavy entries, values were well maintained at last week’s level, particularly for prime sorts and inferior cows. Values were: —Extra prime heavy steers to £l5/17/6. Extra heavy steers, £ll 10/- to £l3/10/-. Prime medium-weight

steers, £lO/5/- to £ll/15/-. Ordinary steers, £9 to £lO. Extra prime heifers, to £l2/7/6. Prime heifers, £7 to £8 15/-. Ordinary heifers, £5/5/- to £6 10/-. Light heifers to £5. Extra prime cows to £ll/12/6. Prime cows £5/15/- to £7/10/-. Medium cows, £4 5/- to £5/10/-. Light cows to £4. The Te Kinga Land and Timber Company sold steers at £l2/2/6 to £l3/2/6. a West Coast vendor, 4 cows at. £lO 2/6, and S. O’Leary (Kotuku), a heifer at £5/12/6. The vealer pens were again oversupplied, and there was an easing of up to 5/- a head for the best sorts, while other grades were up to 10/weaker. Values were: —Extra heavy runners, to £7/1/-. Heavy runners, £4 to £5/5/-. Medium runners, £3/2/6 to £4. Prime vealers £2/15/- to £3/17/6. Medium vealers, 30/- to £2/15/-. Small calves, IS/- to 30/-. The market for store cattle was good. A pen of grown Shorthorn steers made £B/1/-, 16 Hereford Shorthorn cross steer runners £4/15/-. 24 heifers of the same description £l U)/-, 20 mixed sex runners, also the same, £3/15/-. Thf? entry of dairy cattle was larger than usual, and it. included some good sorts. For those near profit there was a free demand. but prices were easing for indifferent sorts being more pronounced. A good class of heifer made from £9/10/- to £ll, whilst for good cows up to £lO was paid. For indifferent sorts the sale was a hard one.

In the fat pig section, porkers were in shorter supply and prices were, on an average, 2/- a head better than last week. For baconers and choppers there was little change. The range of values was:-—Choppers, 48/6 to £4 8/6. Porkers, 39/6 to 44/6. Heavy porkers, 45/6 to 52/6. Average per lb, s£d to 6id, Baconers, 50/6 to 59/6.

Heavy baconers, £3/2/6 to £3/9/6. Extra heavy baconers, £3/14/6 to £4/3/6, special to £5. Average price per lb., 53d to 6d. Store pigs declined from. 4/- to 5/- a head, due to another - overflow entry. Sales were hard to make throughout. Values were: Small weaners, 2/- to 5/-; extra good, 7/- to 8/-. Small stores. 13/- Io 16/-. Large stores, .18/- to 21/-. Extra large stores, 22/lo 25/-.

STOCKS AND SHARES.

DUNEDIN, April 29

Sales: Bank of New Zealand £2 4/3, Austral New Zealand Mining 10/9, Woolworth’s (Sydney) rights £4/14/ 7 , Commercial Bank 19/7, North Broken Hill £3/13/-, 4 per cent, stock, 194346, £lO3. ....•■ CHRISTCHURCH, April 29.

Sales: Commercial Bank of Australia 19/6, Goldshrough Mort 38/4, N.Z. Guarantee Corporation 4/9 (2), N.Z. Breweries 59/9, (2), Anthony Hordern 20/-, British Tobacco 48/9 (2), Broken Hill Proprietary (cum. div.) 81/3 (5), Colonial Sugar £45 (2), Electro Zinc (pref.) 58/3 (4), 58/2 (4), G. .1. Coles £5/6/-, Golden Sands 1/7 (2), Mount Lyell 45/5 (2), 45/6 (2), 45/5 (3), Mount Morgan 15/4 (2). Reported: 4 per cent, inscribed 19434G £lO3, National Bank of New Zealand 63/3 (2), Westport-Stockton Coal 2/6, Mossy Creek (late sale 28th) 1/-. Unlisted: Woolworth’s (Sydney, rights) 94/6 (3). AUCKLAND, April 29.

Sales: Kaiapoi 14/-, General Industries 20/-, New Zealand Insurance 61/3, Glass 89/3, South British 93/8, Coles £5/5/3, stock 46/49 £lO2/5/-. Sales, noon: Sanford 5/6, Goldsbrough 38/71, Dominion Breweries 43/-, Broken Hill 81/3, Government British 94/9. Farmers’ Freezing (£5 paid) £5/11/3. WELLINGTON, April 29.

Sales: Four per cent. Stock 1949 £lO2/15/-, Wellington Trust Loan £5 .10/-, Mt. Lyell 45/6, Westport Stockton ord. 2/6, Colonial Sugar £45, £45 2/6, Coles £5/5/9, Broken Hill 81/9, Electro. Zinc ord. 57/7J, Woolworth’s Ltd. £7/5/-.

BRIAN BORU DREDGE

At an extraordinary meeting of shareholders of the Brian Born Gold Dredging Company, last evening, at which Hon. G. R. Hunter presided over a fair attendance, it was decided to accept the tender of Mr A. McLuskie, on behalf of a. syndicate, of £6500 for the dredge, transformer, lines, etc. It is proposed to shift the dredge to an area near the successful Argo claim.

P. AND O. GO’S SHARES.

LONDON, April 28.

The P. and O. interim dividend is 2J per cent, cumulative preferred. There is no distribution on the deferred. .