COMMERCIAL

New Zealand Herald, Volume LXII, Issue 19149, 15 October 1925, Page 9

COMMERCIAL

AUSTRALIAN FINANCES. THE CONVERSION LOAN. SUM OF £51,000,000 RECEIVED. > Tho Secretary to the Australian Treasury, Mr. Collins, staled lass week that the total received in connection with the Commonwealth 5i per cent, conversion loan had reached £51,000,000, made up oi £37,400,000 of old holdings converted and of £13,600,000 received in the form of new cash subscriptions. As the total conversion to be arranged was £67,000,000. a further subscription of only £16,000,000 was required, he added. As a matter of fact, the Treasury did not intend to raise the whole £16,000,000 from the public, because a considerable 1 portion of that was being reserved for i the investment of moneys belonging to the National Debt Sinking Fund. After allowing for stock and bonds purchased by the Treasury, said Mr. Collins, the unconverted balance still in the hands of the public amounted to £27,500.000. This amount represented the" holding of tens of thousands of investors, and it was astounding that so many persons could bo blind to their own interests. It was now beyond doubt that the majority of these investors would be forced to take cash on December 15 whether they liked it. or not. They would then have to look for new investments, and the market would not be in a position soon to absorb the huge sum of money paid off by the Treasury. Investors who had not already converted would be consulting their own interests by sending in their applications for conversion while there was time. DAIRY PRODUCE PRICES. i LONDON MARKET VALUES. Dalgety and Company, Limited, report i having received the following cablegram from their London house, dated October 12 :—Butter : The market is extremely dull. Prices are 6s lower (now 2245. There is practically no inquiry. Buyers are holding back expecting to do better later on, on news of steamers sailing from ; Now Zealand. Cheese.—Since our last ifclvice prices are lower by 2s (now 116s). Tho total imports of butter into the United Kingdom for September were 396,000cwt. as compared with 431,000cwt. for tho corresponding period of last year. The New Zealand Co-operative Dairy ? Company has received the. following I cablegram from its London manager:— l "Butter: Anchor, 2305; unsalted, 226s (nominal); Danish, 2255, f.0.b.; little business passing meantime, buyers nervous owing to the sailing of the Ruahino and expected subsequent shipments; anticipate quiet market for a few days until position settles down. Choicest scarce, seconds and unsalted have a poor market. "Cheese: White and coloured, 118s; market quietly firm." Joseph Nathan and Company, Ltd., have received the following cablegram from their London house:—Butter, 2245. Business is at a standstill. CHICAGO WHEAT MARKET. Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) CHICAGO, Oct. ]3. Wheat. —December, new, .1 dollar 44 7-8 cents per bushel; old, 1 dollar 44{cents; Mav, new, 1 dollar 44 cents; old, 1 dollar cents. SYDNEY WOOL SALES. I _ Australian and N.X. Cable Association. | (Reed, 11.55 p.m.) SYDNEY, Oct. 14. I At the Sydney wool sales to-day compe- ! tition was very keen and improved rates ! ! were fully maintained. Greasy Merino"*! touched 29J,d. AUCKLAND COMPANIES. TWO NEW REGISTRATIONS. Two private companies were registered in Auckland yesterday. Details are as follow■ ! Bradleys, Limited, company promoters, ! financial and general agents, commission j agents and sharebrokcrs, etc. Capital, ! £IOOO. Shareholders: F. T. Foster and f i R. Austin, 333 shares each; L. Courtney, j I 334. ; Darby's Stores, Limited, manufacturers i i and importers of fancy goods and general j household requisites. Capital, £SOOO. ,;Shareholders: E. Mendelssohn, 4750 shares, j W. M. Neumegen, 250. STOCK SALES. AUCKLAND. i Dalgety and Company, Ltd., report as 1 follows on the Westfield sale yesterday:—- j 1 | Beef: There was a good yarding of ox , i beef r.nd a fair one of cow. The quality , ! and finish, as a whole, was good. The de- | maud was not so keen and values on the I whole were easier. Ksctra choice ox made 'j £2 0s per 1001b.: choice and prime, £2 4s 'to £2 7s; other, 38s to .£2 'it; prjmo young | cow and heifer beef, to £2 sr; other, good, | 38s to £2 3a. Wo had a consignment of | well-finished Hereford cows and heifers from South, which averaged £ 12 4s. A 1 I draft of light-weight prime Hereford steers | from Mr. Et. A. Urquliart, Karaka, aver- | aged £lB 4s. Sheep: There was an average | yarding and prices were very firm at late ' j rates. No extra heavy wethers wero yarded. | Heavy primo woolly wethers made £'2 5b j 1 | to £2 7s Cd; medium, £2 to £2 sa; others, j 1 j 37s to £2; heavy primo shorn wethers made J ! £1 ,153 to £1 18s 6d; prime woolly ewes, £1 [ I 18s to £2 4s; others, £1 12b to £1 15s; best | 1 | shorn ewes £1 2a (id to £1 .15s. Lambs: ! | There was the largest yarding this year, j ; the quality being good and the lambs well j | grown. Prices were considerably easier, j ' I Heavy prime lambs made 335; medium. 20s J | to 325; light, £1 to £1 Bs. _ Calves: An | j exceptionally heavy entry, with very few j • j mother-reared vealers, tho majority being j ! | bucket-fed calves. Runners, £4 10s to £5 I , 10b ; heavy vealers, £3 10s to £4 7s; j 1 ; medium, • i'> to £3 8s; light, .£2 5s to £2 j 1 17a; small. 18s to 29a: fresh-dropped. 3s j . i to fis. Pigs: A small yarding, selling I | readily, prices being better than the pre- j ' j vious week. Choppers made £3 JOs to £5 \ ■ I 10s; heavy and medium baconors, £4 18s to i i 1 £5 8s; light baconors and heavy porkers, j j £4 lis to £4 16s; medium and light i . | porkers, £3 0s to £3 303. Alfred Buckland and Sons, Limited, re- ' | !Kirt: - j j During the week we held sales at Maunga- , . j tnroto, Wcllsford, Helensvillo, Turua, West- j . j field, also two clearing sales. There were ! ;•! full yardings at each centra and a good de- j ' ' roand existed for all classes at late quota- i i | tions. Dairy cows and heifers made £8 to j . | £l7. according to quality; aged and inferior I [dairy cows, £4 to £7 10a; grown steers in j ' j forward condition. £9 10s to £lO J2s (id; | ! j" 4-year-old steers, £7 15s to £9 10s, accord- I j ing to condition; 3-year-old steers, £0 15a | , 1 to £7 12s fid; 2-year-old steers, £5 Ifls to! I £6 12s fid: yearling steers, £3 15s to £4 10s; i ' ! yearling to 2-year-old heifers, £3 10s to ' ! j £5 15b, according to breed and quality; j I empty young cows, £4 10s to £5 15s; store j . | cows, £2 to £4 ss; light fat steers, £l2 to j I £lO 7s Cd; fat cows and heifers, £8 to £ls 1 1 ss; rough tillable cows, £4 5s to £7 10s; | i calves. £1 1b to £1 15s. We held our an- j nual bull sale at Pukeltoho last Thursday j and offered 239 bulls of different breeds. ! There was an extra large attendance , of buyers and keen competition ruled. Prices showed a decided improvement on those realised at last, year's sale. Two and 3-year-old pedigree Shorthorn bulls made, 20gna to GOgns; the latter figure being realised for a good quality 2-year-old bred by Mr. R. King, of Buckland; pedigree yearling to 18month Shorthorns, £ls 15s to 20gus; best grade yearling to 2-year-old Shorthorn. £l2 !2s to 20gns; other Shorthorns, £5 fis to £ll lis; pedigree Jerseys, £ls 15s to SSgns; i p,Tada Jerseys, £7 7s to 2ign«; Hotsteins, i'Ci 6s to £lO lCs; Ayrshiros, £4 4s to £lO 10s. Yesterday at our weekly Westfield fat stock ' market our supply of fat cattle numbered i 483 head, comprising 311 steers, 169 cows ; and heifers, and 3 bulla. The quality of . the os beet was again first-class. Light ' prime ox sold at about last week's rates. 1 Heavy cattle were again lower. _ Extra choice ox sold to £2 9s per 1001b; choice and prime ox, £2 2s to £2 as; ordinary aid plain ox, £1 18s to £2 Is: prime-young cow and heifer beef, £2 2s to £2 8s; ordinary cow beef, £1 16s to £2; rough beef. £1 to £1 JOs; extra heavy prime steers ranged in prico from £2l to £23; heavy prime steers. £lB to £2O 10s; lighter prime steers. £ls 10s to £l7 15s; light prime steers* £l3 to £ls ss; unfinished and small,. £lO IQff to .•£ll3 15©;,

extra heavy prime young cows and heifers. £l4 10s to £1(1; 1 extra special cow made £2O; heavy prime young cows and heifers, £l2 to £l4 £s; lighter, £9 to £ll 15a; other killable cows, £7 to £8 15s; old and rough cows, £3 10s to £6 15s; 33 steers from Mr. Win. Vosper, " Dingley Dell," Cambridge, averaged £l9 11a 8a; 7 from Mr. H. E. Reed. Waerenga, averaged. £2O 30s 4d; 21 from Messrs. Perham ana Larson, Aka. Aka Plains, £l7 19s 4d; 20 from Mr. John Mcfntyre, Puni, £l7 17s Gel; 24 from Mr. C. C. Otway. To Akau, £lB 10s and 72 steers on account of other clients sold at from £l6 upward. The 859 sheep which came forward were with few exceptions of good quality. There was an improved demand and values were harder. Extra heavy prime woolly wethers made, £2 9s Cd to £2 lis 3d; heavy prime woolly wethers, £2 7s to £2 9s 3d; shorn. £1 18s to £2 03 6d; medium weight prime woolly wethers, £2 4a Cd to £2 6s 3d; shorn, £1 15s Gd to £1 17s 6d; light prime woolly wethers, £2 Is to £2 4s; extra heavy prime woolly ewes, £2 to £2 4s Cd; heavy fat woolly ewes, £1 16s to £.l 19s; shorn. £1 10s to £1 13a; lighter fat woolly ewes, £1 12s 6a to £1 15s Gd. Spring lambs were penned in increased numbers and were lower, than late high values. Heavy prime made £1 15b to £1 IGs 9-1; lighter prime, £1 11a to £1 14a 6d: light prime, £1 7a 9d to £1 IDs 3d; small and plain, £L la to £1 7a '123 sold). Calves were penned in extra large numOera. Competition was keen throughout, last weeits good values being fully sustained. Runners made from £3 17s to £6 6s; medium vealers. £2 18s to £4. 12s; light £2 Is to £2 19s; small and fresh dropped, 3s to £2 (291 sold). There was hardly an average yarding of pigs. All classes sold readily, the demand being firm. Heavy choppers made £5 30s to £7 la for three particularly good young sows; light, £2 10s to £4 3os; heavy choice bacon era, £5 to £5 9s; Jisnt and medium, £4 8a to £4 17s; heavy porkers. £3 lis to £3 19a; light and medium, £3 to £3 7s; small and unfinished, £1 17b to ii12s. Stores also sold well. Best framed conditioned made £1 33s to £1 19s; good stores, £1 8s to £1 lis; slips. £1 4s to £ Ha; suckers and wcaneru from 8s to £1 3s (330 sold). The New Zealand Loan and Mercantile Agency Co., Ltd., reports:--We held sales during the past week at Westfield, I apakuxa and Pukekohe, all classes of store and dairy cattle selling at late quotations. We quote: Dairy cows and heifers, close to profit, nest, £ll to £1.4 ss; others, £7 10a to £lO 10s: backward springers, best, £7 to £3 JOs, others, £4 10s to £6 15s; aged cows and inferior heifers, £2 to £4 30s; dairy bulls. Shorthorn, best. £l4 14s to 20gns.; others. Cgns. to £l3 13s; Jersey bulls, best, lOgns. to ICgns.; other, ogns. to 9gua.; 1 riesian bulls, 7gns. to 14gns.; empty cows, £2 10s to £5 10s; yearling to 18-months heifers, best, £3 to £4 las; others. £1 10s to £2 15s; yearling to 18-months steers. £3 15s to £5 two to two and a half-year steers, £5 10s to £6 178 6d; three to three and a half-year steers, £7 to £8 7s 6d; four to four and a half-year steers, £8 10s to £9 2s Gd; grown steers in forward condition, £9 5s to £lO 10s. At Westfield fat stock market. yesterday beef was penned in more than average numbers and showed an easing tendency on last week's sale, light-weights being better worth. Extra choice ox sold to 49s per 1001b.; choice and prime ox. 4-ts to 48s; ordinary and plain ox, £1 18s to £2 3s; prime young cow and heifer beef, 41s to 455; ordinary cow beef, 36s to 40s; rough beef, 28a to 35a; heavjj prime steers, £l9 to £2l 2s 6d; lighter prime steers. £l6 to £lB 15s; light prime steers, £l4 10s to £ls 15s; unfinished and small, £l2_ to £l4; heavy prime young cows and heifers, £l2 to £l3 10s; lighter, £9 10s to £l2 15s; light cows, £6 15s to £9 ss; bulls, £4 to £8; other cows, £3 15s to £6 10s. Sheep were also yarded in increased numbers and sold readily, values being very firm at late Quotations. Extra heavy prime wethers, woolly, made £2 10s to £2 17s for sheep fatted by Mr. H. E. Potter. Karaka, Papakura; heavy prime wethers, woolly, £2 Cs 3d to £2 9s; shorn, £1 19s to £2 Is; medium prime wethers, woolly, £2 4s to £2 6s; shorn, £1 17a 3d to £1 183 9d; light prime wethers, woolly, £2 to £2 3s Cd; shorn, £1 16s to £1 17s; heavy x>rime ewes, woolly, £2 Is to £2 3a Cd: shorn, £1 35s Gd to £1 IGs 9d; medium and light prime ewes, woolly, £1 18s to £2 0s 9d; shorn, £1 14s to £1 15s; woolly-hoggets, £1 lis 9d to £1 16s; shorn hoggets, £1 8s to £1 1.3s Cd. Spring lambs were penned ia large numbers, and consequently values were easier. .Heavy prime made £1 14s to £1 16s; medium prime, £1 10s to £1 13s 6d; light prime, £1 4s to £1 9s 6d; unfinished, 15b to £1 3s. Pigs were penned in large numbers, values being firm at late quotations. Choppers sold from £5 to £5 17s 6d; heavy and medium bacotiers from £5 to £5 Ss; light baconers and heavy porkers from. £4 10s to £4 18s; medium porkers and light porkers from .£3 lGs to £4 8s; small and unfinished porkers, £2 10s to £3 Bs. Store pigs in small numbers sold at late Quotations. Large stores made £2 to £2 9s; slips, £1 10s to £1 18s; weaners, 15fs to £1 Bs. Calves were penned in large numbers, values remaining firm at late quotations. Runners made £5 10s to £6 355; heavy vealers. £3 10s to £4 4s; medium, £2 38s to £3 8s; light, £2 8s to £2 365; smaller, £1 16s to £2 6a; small and fresh dropped, 3b to £1 10a: rough calves, 10s to £l. HAMILTON. The New Zealand Loan and Mercantile Agency Company, Limited, report:—-At the Hamilton sale on Tuesday there was a fairly heavy yarding of both fat and store cattle, and a small entry of sheep. Beef declined slightly in value, especially rouch and unfinished cattle. Quotations: Heavy fat cows, £ll to £ll 10s; medium, £8 to £9 10s; unfinished cows, £5 15s to £7; cows in fresh condition, £4 6s to £5 7s Gd; rough store .cows, £2 6s to £3 12s; yearling Jersey-cross heifers, £2 las to £3 13s; springing heifers, £5 5s to £9 10a; light fat ewes, £1 15s 3d; small fat hoggets, £1 13s 3d; store, £1 93. Pigs: A good yarding sold readily at lata rates. We quote: Heavy baconers. £4 39s to £5 7s; medium baconers, £3 16s to £4; light baconers and good porkers, £3 to £3 6s; stores, 31s to 36a; good weaners, 19s to £1 ss: others. 10s to 15s; sows in pig. £3 3s to C 3 30s. . . .. The Farmers' Co-operative Auctioneering Company, Limited, report:—ln the Prankton yards on Tuesday we had a good entry of both steer and cow beef which sold well up to last week's rates. A full numoer of f.it and store pigs were penned and sold under keen competition at late values. I3cei: Prime heavy fat steers made £2O 5s to £22; medium, £l6 15a to £l9 2s Cd; light prime, £l4 to £ls Gs; light, £ll to £l3 13s; twoyear unfinished steers, £9 2s to £9 ss; prime fat cows, £l2 53 to £l2 10s; medium, £9 15s to £lO 30s; light prime, £8 30s to £9 ss; plain, £7 to £8 2s 6d; unfinished, £6 23 Cd io £6 15s; vealers, best, £3 15e; young, £2 4s to £2 303; four-year-old store bullocks, £8 14a; two-year steers, £6 ss; fresh conditioned cows, £5 3s to £5 7s Cd; stores, £2 I "is to £3 7a Gd; Jersey-cross yearling heifers, £3 ICs to £3 17a 6d. Pigs: Heavy baconers made £5 to £5 8s; good baconers, £4 10s to ■£4 37s • medium, £3 15a to £4 ss; light baconers to good porkevs, £3 7a to £3 12s; medium porkers £2 19s to £3 3a; light, £2 as to £2 12s- unfinished, 38a to £2 2a; best slips, 30s to 355; others. 23s to 275; good weaners, £1 to £1 ss; young and small, 10s to 17s. ADDINGTON. [BY TK UiCTtAPH.—PRESS ASSOCIATION.] CHRISTCHITECH. Tuesday. Entries were on the small side at Addill oton to-day and there was a good sound sale, although fat cattle failed to hold last week's rates. Tho Prime Minister. Hon. J. G. Coates, paid a half-hour's visit to the sale and gave a few minutes' address, which was heartily applauded. Store Sheep.—A rather small entry, comprising mostly ewes anil lambs. There was very little change in the market from last week. Tho beat of the ewes and lambs sold at 265. all counted. Spring Lambs. —Thirty-seven, of these sold at from 33s to 4.4s 9d. _ . _ . Fat Sheen.—An average yarding, which included several trucks from tho Tapanui district of South Otago. One line of 350 from 1 ieriot made 45s 7d to 49s Id. The sale generally was a shade dearer than last week. Extra prime wethers. 57s Gd to 60s Id. prime. 47s to 53s Gd ; medium. 43r Gd to * 48s Cd; light. 39s lOd to 435. Extra prime ewes, to 46s 4d; primo. 40a Cd to 445 : medium. 37s to 40s; light, 34s lOd to 36s 9d. Prime shorn wethers, to 36s JOd: ordinary shorn wethers. 34s Id to 35s 6d: prune hoggets, to 42s 4d. Fat Cattle.— An entry of 432 head, which included 80 head from tho North Island and consignments from the Chatham Islands and the West Coast. Values were down on last week by 20s to 30s per head. Butchers complain that- at the high prices now ruling for meat consumption is being restricted. Extra prime beef made up to 57a 6d per 3001b.; prime. 52s Cd to 565; prime heavy. 50a to 52s fid: medium. 46s to 49a ; light, 42s to 44s 6d; rough, down to 27s Cd. Extra prime heavy-weight steers, £27 to £33 12s Gd; prime heavy steers, £23 to £'24; medium weight. £l7 to £2O 10s; light. £34 to £l6 355; rough. £ll to £33 10a. Extra prime heifers. £3B to £22 ss; prime. £32 15s to £ls IBs; ordinary. £9 7s 6d to £l2 10a; light. £4 to £8 JOs. Extra primo cows, to £l9 2s Cd; prime. £l2' 10s to £ls 10s: ordinary. £9 5s to £l2 ss: light. £7 15a to £9; aged. £4 to £7 30s. Vealers.—A Rood sale. Runners, £8 to £9 37b 6d: good vealers. £6 10s to £7 ss: others. £4 15s Gd to £6 2s 6d. Store Cattle.—No quotable lines were forw:i rd. Dairy Cattle.—Best, £6 10s to £lO 10a; others. £4 to £6. Fat Pigs.-—Choppers. £3 10s to £7 10a: baconers. £4 7s to £6 10s: average price, per lb. 83d to 9|d. Porkers. _ 65s to 82s, average price per lb., 9Jd to 10} d. Store Pigs. -Weaners. 25s to 355; stores. 33s to 495; large, 54a to 60s: sows in pig. to £ 5 15s.