COMMERCIAL.

New Zealand Herald, Volume LIII, Issue 16214, 27 April 1916, Page 5

COMMERCIAL.

' MONEY MARKET. NEW ZEALAND'S RECORD. Ik a review of tho position of the money market tho New Zealand Trado Review says:—Tho exports and imports to March 31 last, and the banking returns for tho quarter ended March 31 give ample evidence of (ho prosperity of the Dominion and tho abundant supply of funds avail' able consequent on, tho splendid prices which aro being realised for our staple articles of export. Our financial position is inseparably connected with tho relationship our imports bear to our exports, and this argument is well borno out by tho following figures:—

Iho movements in these two gets of figures do not quito coincide, as there uro other factors that have to De taken into account. Imports aro generally paid for at once, while exports may not be realised till the next quarter; also loan moneys come out in the form of imports of goods, and the banking figures we give do not include Government accounts. The present position is a record for the Dominion— nave an enormous surplus of exports of over twelve millions, and tho banks have a surplus of deposits of seven and a-half millions. Whilo money is exceptionally plentiful there is a good deal of hesitation as to investing, chiefly duo to a feeling of uncertainty ns to how long the war will last and what conditions will be subsequently, and consequently lending rates keep firm. AUSTRALASIAN TRUST. DIVIDEND OF 7J PER CENT. By Telegraph—Press Association—Copyright. London, April 25. Iho Trust Agency of Australasia lias declared a dividend for tho year of 7J per cent. STOCK SALES. AUCKLAND. The New Zealand Loan and Mercantile A £ency Company, Ltd., report as follows Un ThurscKiy last we hud a largo yarding of both store cattle and sheep. Best dairy cows and heifers sold at from £8 lot to £12 lis; others, £5 to £7 17s 6d; heifers due to calve August and September, £3 15s to £5 lis Cd; empty cows and heifers, £4 10s to £6 176 Cd; bulls, £1 10s to £9 10s; heifer calves, £1 5s to £2 8s; steer calves, £1 15» to £2 15s j yearling to 18-months steers, £3 15s to £5 123 td; two to two and a-half year-old steers, £0 to £8 ss. Sheep: Fresh full-mouth ewes been running with rams sold at from £1 3s fid to £1 9s (id; fullmonth ewes, 15s to £1 Is; inferior ewes, 12 to lis fid; lambs, for best, 12s to lis; others, 7a 6d to lis 6d. At Westfield fat stock market yesterday beef was yarded in average numbers, and sold at last week's rates, cost oxen selling to £2 3s fid per 1001b: others, £2 to £2 3s, steers sold at from £9 10s to £19 12s 6d; cow and heifer beef soiling at from £1 Ids to £2 2a; cows and heifers sold at from £5 10s to £13. Some of the averages were:—Twelve steers from Cabbage Bay. £16 ss; a truck from Mr. W, Vosper, Drngley Dell, Cam bridge, £16 7s 6d; 16 steers from Mr. G. 'I'. Nicol, Papatoetoe, £16 7s 6d; 17 steers from Mr. W. Henry, Taupiri, £14 lis. Calves were yarded in aveiago numbers, and sold at scarcely last week's prices. Runners sold at from £5 to £7 los; heavy suckers, £3 12s to £5; medium suckers, £2 3a to £3 lQt: light suckers, £1 7s to £2 Is; small and fresh dropped. 2s to £1 3s. Sheep were penned in full numbers, and sold under steady competition at improved rates. Best wethers sold at from £1 8s to £1 12s 6d; a small pen. extra well done mad© £2 2s, being purchased by Mr. S. Day, Ellerslio; other wethers, £1 2s to £1 7s fid; best owes, £1 6s to £1 10fl 6d; others, £1 Is to £1 5a 9d; hogget?, £1 to £1 4s 3d: lambs, in full supply, sold at from £1 Is to £1 6s 9d for host; others, 13s 3d to 19s 9d. Pigs were yarded in largo uumlwrs, and sold at late rates. Choppers sold at from £5 5s to £6 19s for a. maiden sow fattened by Mr. H. South gate, Mount Roskill. This latter price is a record. Heavy baconers, £3 15s to £4 14s; modium baconers, £3 to £3 14s; light baconers, £2 lis to £2 19s; heavy porkers, £2 16s to £3 6a; medium porkers, £2 6a to £2 14s; light porkers, £1 los to £2 ss; slips, £1 33 to £1 12s; no weaners yarded. Messrs. Alfred Buckland and Sons report as follows: At our weekly Westfield fat stock market yesterday we penned beef to tho number of 517, comprising 184 steers, 328 cowa and heifers, and five bulls. Competition for steers was not so keen as last week, and values were about 10s lower. Priino cows and heifers wore firm, second Quality being somewhat neglected- Choice ox sold to £2 3s; prime, £2 Is to £2 2s; ordinary, £1 IB a to £2; cows and heifers. £1 13s to £2; steers ranged in price from £10 2s 6d to £18 17s 6d; cows and heifers, £4 12s 6d to £13 15s. Somo of tho averages wero:— Eight steers from George Booth, Bruntwood, £15 183 fld; 17 from G. Forbes, Hangatiki, £15 7s 9d; eight ffom George Hull, Ake Ako, £15; seven from W. Vosper, Cambridge, £17 5s 8d: 16 from Alex Orr, Morrinsville, £16 10s lOd. Tho sheep pons were well filled. The demand was steady at about last week's values. Extra, heavy prime wethers, £1 10s 6d to £1 13s; heavy primo wethers, £1 7s 6d to £1 10b; medium to heavy, £1 5s to £1 6s 9d: light and unfinished, las 6d to £1 46; best owes, £1 6s to £1 9s; good ewes, £1 2s 6d to £1 4s; others, 12s 3d to £1 Is fld. (1682 sold.) The 595 lambs, a number of which wero unfinished, met with a good demand- Heavy woolly, £1 3s to £1 8s; a truck from Mr. Alex Orr averaged £1 ss; good, 17s fld to £1 0s 3d; others, 8s 6d to 16s 9d; best shorn, 15s 3d to 17s 6d; good, 12a to 14s fld: others, 7a 6d to lis 3d. The 86 fat and young calves sold at a slight advance on last week's values. Runners, £4 7s 6d to £4 17» fid; heavy suckers, £3 7s to £4 ss; medium, £3 15s to £3 ss: light. £1 18s to £2 10s; small and fresh dropped, 4s to £1 15s. Pigs were penned in large numbers, and sold slightly lower than last week's extreme values. Heavy baconers, £■! to £4 13s; medium, £3 8s to £3 17s- light, £3 to £3 7s; largo porkers, £2 14s to £2 19s; smaller, £2 6s to £2 13s; light, £1 15s to £2 4s; slips to £1; weaners, 12s 6d; suckers, 7s 6d. A total of 315 wore sold. On Thursday last, at Westfield, thero was an average yarding of dairy and store cattle, which sold it late quotations. Wc held a c'earanco sale at Mr. P. Grainger's, Whitford, on Thursday last. There was a large attendance, and a satisfactory sale re ml ted. The dairy heifers averaged £6 2s (d, selling at from £5 2s 6d to £9 £3; calve i, £1 10s to £2 13s: store wethers, £1 2s I'd; farm geldings, £22 10s to £26; gig horse, £14. The implements and sundries brought Usual values. We held our usual monthly sale at Pukekoho on Tuesday /last, and had an extra largo yarding for this time of tho year. Thero was a, good demand. Stores wero slightly easier. Beef sold at fully Westfield rates. Dairy cows and heifers made £6 53 to £16. according to quality; the advertised Jersey heifors made from £6 10s to £11 ss; registered pedigree Jersey heifer Britannia. £25; very forward conditioned three and four-year-old steers. £11 os to £12 2s 6d; less conditioned, £!i Is to £10 12a fid: two to two and a-hiilf-year-old steers, £6 15s to £0 Ids; yearling to 18-months steers, £4 3s to £5 los; good steer calves, £2 17s to £3 3s ; good calves, mixed sexes, &'2 7a to £2 14s; smaller, £1 13s to £2 3s; small and weedy, 15s to £1 7b; store cows. £5 to £7 2s; 18months to two-year-old lifers, £4 10s to £6 7s 6d: yearlings, £3 15s to £3 6s; fat steers, £10 5s to £16 5a cows and heifers, £5 15s to £12 15s; bulls, according to quality, £1 10» to £8 15s, Messrs. Dalgety and Company, Ltd-, held their usual weekly fat stock salo at Westfield yesterday. They report as follows:— Beef: Large yarding. _ Tho majority being cows, prices wero very irreguiar, and buyers were not keen to secure unless at rotluced rates. A few pens of extra choice ox sold at lato ratoß, the remainder meeting with a slack salo at Irom 10a to 20s per head bolow late rates. Extra choice ox sold up to 42s per 1001b; ordinary prime ox, 37s to 39b; cow and heifer beef made up to 38s per 1001b for prime. Veal: A small yarding, which sold at late rates. Extra choico heavy runners made u*> to £7 158! ordinary heavy, £3 12s to £1 17s fld; choice suckers, 45s to 68s; others, 3s '"Mutton: Moderate yarding. Prime sheep sold at late rates. Unfinished and inferior were slightly lower. Best heavy prime wethers mado up to 335 : medium-weight wethers sold at 24s 6d to 275; extra heavy ewes made up to 31s: medium-weight ditto, "■ls to 28s; unfinished, 18s to 21s, "Lamb: Moderate yarding. Best heavy prime lambs made up to 18s 6d; medium, 14s to 16s 6d; unfinished, lis to 13s 9dj extra heavy lambs made up to. 26s 6d, Pork: Average yarding, which sold at late rates. Baconers made up to £4 4b; porkers made from 38s to £2 14s; stores made up to 335. ADDINGTON. [by TELEGB.WH.—PRESS ASSOCIATION'. 1 Ciiuisicnt/ncH, Wednesday. At tho Addingtoft live stock market to-day thero wore small entries in all departments, and a much reduced attendance, Store sheep sold well, also fat lambs. Fat cattlo sold

rather better. Fat sheep were- oasior at the opcniDij of the Bale, but firmed to last week's prices. No business was done for export, lnero was a very small yarding of store cattle. < Dairy cows Bold well. Pigs wero easier owing to limited demand. . Storo Sheep: Forward lambs 16s to 18s 9d, ordinary 12s 64 to 15s Wd, cull 5s 3d to 10a 9a• wether lambs, J4s to IBs; two-tooth owes 17b 6d, four and six-tooth 16s 6d to 18s Ed, four, six, and eight-tooth 20s Id to 235, ax and eight-tooth 17s Id to 21s lOd, sound-mouthed 15s Od to 183 lOd, failingmouthed 12s to 12s Ed, aged 6s 7d to ?$, two-tooth wothers 21s 3d to 21s 7d, four and eix-tooth 14s to 21s Id, su and eight-tooth 19s Od to 23s Cd. Fat Lambs: Prime lambs 21s to 21s 3d, others 16s 8d to 20s 6d. Fat Shcop: Prime- wethors 26s to 80s Id. others 18s {o 21s 6d; Merino wethers. 20s 3d to 235; primo owes 21s to 27s Id. medium 19s to 23s 6d, others 14s 7d to 18s 6d: Merino ewes, 13s lOd to 16s. Fat Cattle: Extra primo steers to £20. ordinary £9 to £13: extra prime hoifers to *13, ordinary £7 12s 6d to £9 10s; extra prime cows to £11 16s ordinary £6 10s to £9; dairy cows £3 10s to £15 15s. Pigs: Choppers. BOs to 60s; heavy baconers 75s to 90s, light OSs to 70s, price per lb 61d; heavy porkers 44s to 48b. light 34s to 40s: prico per b 7d to 7}d; medium stores 08s to 31s, small 16s to 255; weanere, 7s to 12s. BURN SIDE. [BY TEIEORATH.—PRESS ASSOCIATION'.] Dunedin, Wednesday. At Burnsicle, to-day. 120 fat cattle were penned, mostly of medium quality. Butchers secured tho wholo of the entry. Prices worn about 16s in advance of last week's. Beat bullocks mado £16 10s to £17 10s, extra heavy £18 6s, medium £13 10s to £15 10s, light and unfinished £8 10s to £12; hoavy cows, £12 to £14 10s. medium £9 10s to £11, light £7 10s to £9 10s. Fat Sheep; One thousand eight hundred and fifteon penned. Values gradually hardened, and finished at about Is 6d advanco on last week's rates. Prime wethers sold speoially well. Hefiyy wethers made 27b 6rt to 31b, extra prime 35s 3d, medium 24b 6d to 26s 6d, light 19s Od to 21b, unfinished IBs upwards; heavy owes, 27s to 80s, extra primo 31s 6d to 34s 3d, medium 20a to 255. light 14s upwards. Lambs: Eight hundred and fifteen were penned, Tho quality was above the averago, and competition was keen, prices advancing about Is. Best made 22s 6d to 245, extra heavy 24s fid to 27s 9d, medium 18s to 2ls. light unfinished 13s to 15s 6d. Pigs: A small yarding. Prices were exceptionally light. Best baconers, 955, light 80s; porkers, 555; store pigs were in short supply, mmßmmmmmm — mmammmmmm

„ Eicossof Excess of Xear ending Exports. Deposits. March 31. £ j> }916 ... 12,159.360 7,010,160 }9}5 ... 7,660,7-16 3,088.670 JOll ... 1,603,274 363,500 J2H ... 1,333,577 831,799 }9}3 ... °770,66G 887,85:) }9}\ ... .1,112,121 8,669,656 WW ... 6,693,566 1,162,319 • Excess of imports.