Farming and Finance

Manawatu Times, Volume 60, Issue 30, 5 February 1935, Page 8

Farming and Finance

STOCK AND SHARE MARKET.

MONDAY, FEBRUARY 4, 1935,

Wellington Stock Exchange. Morning Call. Buyers. Sellers.

Sale on ’Change: New Zealand Guarantee Corporation, 5s lid. Eeported sale: National Bank of Australasia (£5), £6 S 3. UNOFFICIAL LIST.

CHRISTCHURCH SALES. Per Press Association. CHRISTCHURCH, Last Night. Sales on ’Change of unlisted stocks: Woolworths, Sydney (ord.), 91s Gd (3). Sales on ’Change: Dalgety and Co., £S 13s (id; Dunlop Rubber, 19s (id; Big River, 2s 3d, 2s 3id, 2s Id (5), 2s 4id; Woolworths, New Zealand (ord.), £9 15s; Brian Boru, 9d (2), 9id, 9d (4); Charleston, Gd; Maori Gully, Is lid; Lawson’s Flat, old; Mahakipawa. 104 d; Mossy Creek, 2s Gld; Mount Lyell, 17s 6d, 17s 5d (2); Skippers, did. Sales reported: Dalgety and Co., £S 14s 3d; National Electric (ex. div.), 10s 4d; Big River, 2s 5d (3); Mahakipawa, 10id; Okarito, Ss; Bank of New Zealand, “D” Mortgage, 325; New Zealand Insurance, 70s; Dominion Fertiliser, 21s Gd.

frozen meat.

LONDON MARKET EASIER

Tho arrival of larger shipments has caused the market for New Zealand lamb in London to ease slightly, accord-

ing to the report received by cable by the New Zealand Meat Producers’ Board. Ewe mutton is Also slightly easier and trade in wether mutton is slow. Tho beef market is steady, with fair demand. Trade in New Zealand porker pigs is slow, and, with heavy slocks, prices are easier. Tho market for New Zealand baconer pigs is steady and unchanged. The approximate average wholesale prices in London during the week, with those for the previous week in parentheses, are:— New Zealand sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 48/56, 5 3-Sd per lb. (5 3-8 d); 57/64, 5 1-Sd (5 l-8d); 65/72. 5d (sd); North Island, 48/56, 5 3-8 d (5 3-8 d) ; 57/64, 5 1-Sd (5 l-8d); 65/72, 5d (sd). Ewes, 48/under, 4|d (4 3-8 d); 48/64, 3 7-8 d (4d); 65/72, 3 3-8 d (3|d). New Zealand lambs. —Selected North Island brands, including Downs, 36/undcr, 7|d (3d); S//42, 7 7-8 d (Sd); second quality, average 32, 7 1-Sd (7jd); other North Island brands, first, quality, 36/under, 7£d (7£d); 37/42, 7 5-Sd (7 7-Sd); second quality, average 32, 7d (7 1-Sd). Australian lambs. —Victorian, first quality, 36/undcr, 7d (7d); 37/42, 7 l-8d (7*d). Argentine lambs—36/under, 6 7-Sd (7d); 37/42, 6 7-8 d (7d). ■ New Zealand beef.—Ox fores, 3d (2 7-Sd), hinds, 3 7-8 d (3 7-Sd). Argentine chilled beef.—Ox fores, 3id (3 3-8 d); hinds, 5d (5 1-Sd). Australian frozen beef.—Ox crops, over 100, 3|d (3Jd); hinds, over 160, 4d (4d). New Zealand prime porker pigs, 60/80, 6d (6 1-Sd); Sl/100, s)d (5 5-Sd); 101/120, 5Jd (5 5-Sd). New Zealand bconcr pigs.—120/160, old (s|d). Equivalent Prices.

In regard to the publislicd prices realised for New Zealand lamb delivered to Smithfield market: The New Zealand Meat Producers’ Board supplies the following tabic, giving the equivalent New Zealand parity, after deducting all costs, including selling commission. The costing is based on to-day’s estimated skin values and includes exchange at current rates. The calculation is on the basis of a prime woolly lamb weighing, say, 341 b., delivered at freezing works: —

If price delivered to Smithfield is 7|d per lb., the New Zealand ’’overall” parity delivered at works is approximately 7.74 d per lb.; 7 5-Sd, 7.50 d; 7id, 7.44 d. V In the above estimate the cost of killing, freezing, and placing on board steamer is based on a charge of .5/5d per lb. The Bank of Australasia ha? received the following cable, dated February I, from its. London office. Now Zealand lamb prices have checked dc? mand, but with supplies increasing somewhat weaker values anticipated and this should stimulate trade; New Zealand mutton, demand limited owing to high prices, trade slow; wethers at lower prices arc being accepted —ewes, prices unchanged; New Zealand bcci, stocks on hand and forward shipments light, market firm with upward tendency and expected to remain so until supplies increased.”

DAIRY PRODUCE. BUTTER FIRM, CHEESE STEADY. The market for New Zealand butter in London is firm, and there has been a further increase in prices during the week, including a rise of Id per pound in the retail rate, according to the weekly report received by cable yesterday by the New Zealand Dairy Produce Board. Wholesale quotations are:—Butter, New Zealand salted, STs to 90s per cwt. (which equals approximately 10.3 d per lb., f.0.b.), compared with 81s to 85s last week; unsaltcd, 92s to 945; Australian-, 87s to 88s; Danish, spot, 118 s (market quiet). The retail price for New Zealand butter has been increased to lid per pound, while Danish is selling at Is 2d. The butter stock position is as follows: „ , ,

The cheese market is steady, and New Zealand cheese is still selling retail at Gd per pound. Wholesale rates are: —New Zealand, white 47s to 47s Gd per cwt. (which equals approximately 0.05 d per pound, f.0.b.), compared vvisli 45s to -10 s lust week; coloured, 46s Gd to 475; Australian, white and coloured, 45s to 45s Gd; Canadian, white and coloured, 58s to 60s; iinest English ’armors’, 82s to 90s. The board has also received the following advice from its agents iu Cunada:—Butter, New York, 37i cents, per pound; Montreal, 24i cents.^ The minimum • f.o.b. prices until further notice will be: —Butter, IOJd per pound; cheese, 5-id (both less 1J per cent, commission).

BUTTER TRADE. CAUSES FOR PRICE RISE. LONDON, Feb. 3. The butter trade continues to improve and prices have steadily hardened until to-day choicest salted New Zealand is fetching 92s per cwt. and Australian 90s, which is 15s higher than at, the beginning of January and 20s higher than at the beginning of December. Several causes, have contributed to this satisfactory state of affairs. The first is the continuance of the strong consumptive demand which resulted in a reduction of cold-stored stocks to about 400,000 boxes, or roughly about one -week’s consumption. Another “bull” factor in the market is that New Zealand is shipping considerable quantities to the United States, which has also been buyiug here, and then there is news of a severe drought in New Zealand with a consequent heavy reduction of butter production, so importers are taking a very firm attitude. Tho higher values will cause retailers to advance prices by a penny or twopence a pound, but this is not expected to mean any serious reduction in consumption. The egg market is still depressed. The brief cold snap gave hope of some improvement, but spring-like weather quickly returned and prices remain at the recent low level, Australians ranging from 7s 3d to 9s, according to weight

£ 8. d. £ s. d. N.Z. Govt. Loans4 p.c. bonds, 15/1/1940 .. .. 103 10 0 104 0 0 4 p.c. bonds, 15/2/194G .. .. 106 5 0 — 4 p.c. bonds, 15/4/1949 .. .. 106 10 0 — 4 p.c. bonds, 15/6/1955 .. .. 109 2 6 — 5 p.c. rural bonds, 15/9/1947 .. .. 104 5 0 — 34 p.c. ins. stock, 15/3/1939-43 .. 106 0 0 — 34 p.c. ins. stock, 15/5/1939-52 .. 106 5 0 — 34 p.c. ins. stock, 15/3/1938-43 .. 106 0 0 — 34 p.c. ins. stock, 15/5/1938-52 .. 106 5 0 107 2 6 4 p.c. ins. stk., 15/1/1940 .. .. 103 5 0 103 15 0 4 p.c. ins. stk., 15/2/1946 .. .. 106 7 6 107 0 0 4 p.c. ins. stk., 15/4/1949 .. .. 106 10 0 107 5 0 4 p.c. ins. stk., 15/6/1955 .. .. 109 0 0 — Other DebenturesAmalgmtd. Brick, Wgtn — 102 10 0 ArnaJgmtd. Brick, Auck — 102 10 0 Wright, Stephenson, 5 p.c 99 0 0 ■— Gisborne Sheep Farmers .. .. 103 0 0 — Banks — Comm, of Aust. (ord.)’ 0 16 6 — Com. Bankg. Co., Sydney .. .. — 0 17 9 Eng., Scot, and Aust — 5 4 0 Nat. of A'asia. (£5) 6 7 0 — New Sth. Wales* 31 5 0 * New Zealand .. 2 10 9 2 11 3 New Zealand, D Long Term 1 12 1 — Bcscrvo Bank of N.Z — 6 13 0 Financial — Goldsbr’gh, Mort. and Co 1 9 3 N.Z. Guar. Corp. 0 5 10 0 5 11 Wgn. Trust, Loan — 5 13 0 Wgtn. Dep. and Mort 0 4 3 — Gas— Gisborne — 0 12 3 Insurance — National of N.Z. ' 1 O 6 — New Zealand* .. — 3 11 3 Queensland .. .. — 3 3 0 South British .. — 4 IS 0 Meat Preserving— Gear Moat .. .. — 1 6 N.Z. Eefrg. (£1)* — 1 1 2 N.Z. Eefrg. (10s)* 0 10 0 0 10 2 Transport— Huddart - Parker (prof.) 1 7 6 — Union S t e a m (pref.) 1 7 1 1 s 0 Coal— Pukemiro .. .. 1 6 0 — Timber — Bartholomew . .. 0 14 6 — Kauri — 0 19 9 National — 0 14 9 Taringamutu Totara 0 4. G — Taupo Totara (ord.) — 0 5 3 Breweries — N.Z. Breweries .. 2 11 0 2 12 3 Dominion 0 14 0 — Miscellaneous— Burns, Philp and Co 3 2 0 — Colonial Sugar .. 41 0 0 42 0 0 Consol. Brick and Pipe 0 9 11 0 10 2 Dental and Modical Supply 0 10 6 — D.I.C. (paid) .. 0 13 0 — D.I.C., cont., ord. 0 10 6 0 13 3 Dunlop - Perdriau — 0 19 ii Electrolytic Zinc (ord.) .. .. .. — 1 0 Electroly. Zinc (8 p.c. part pref.)'* 1 13 6 1 14 Howard Smith (ord.) — 0 17 0 N.Z. Paper Mills — 1 15 6 Prestige, New Zd. (prof.) 1 0 t> — Wgtn. Cordage .. — 0 12 0 Wilson’s (N.Z.) Cement .. .■ 1 13 0 — Woohvorths, N.Z. 9 0 0 •— Broken Hill Pty. — 13 3 Gates, Ltd. 0 4 0 0 6 6 National Electric 0 10 0 0 10 6 Mining— Big Biver .. .. — 0 2 6 Mataki .. ., • • — 0 2 o Mount Lyell .... 0 16 8 — Okarito 0 V 6 — Skippers 0 0 6 ■— * Cum. div.

Buye rs. Sellers. £ s. d. £ ft. d. Woolworths, Ltd. (ord.) 4 11 0 4 12 0 Matters (N.Z.) Ltd Vacuum Products 0 5 0 (5s paid) .. .. 0 o 10 — Frozen Products 0 10 <) — Kcmballs, £50 deb — SO 0 0

Feb. 1, Fob. 3, 1935. 1934. Tons. Tons. New Zealand . . 5644 3750 Australian .. . . 2534 6400 S178 10,150