YESTERDAY'S SALES.

New Zealand Herald, Volume LXVII, Issue 20622, 22 July 1930, Page 5

YESTERDAY'S SALES.

BUSINESS ON EXCHANGES.

RETURN ON INVESTMENTS. Following is a list of yesterday's trans- I actions on Now Zealand Stock Exchanges. In tho socond column is given the return, based on the last dividend, from investment at Uio quoted price. In the caso of Government and other redeemable securities I lie return includes redemption. The first column gives fho figures at which tho sales wero made: — AUCKLAND EXCHANGE. jßoturn on Sale £ r <1 £ s tl Com. Bunk Aus. . . 1 1 0 7 210 Bank of N.S W. . . 3(1 0 0 611 1 Bunk of N.Z - 11) 0 5 2 N.Z. Insurance . . 2 0 0 4 3 4 Dominion Investment 1 0 0 7 0 0 Byrroft (2) . . . . 114 0 517 7 Grey and Mcnzioa . 011 0 7 5 5 Tho following salo also took place.—Okarito, 7s. CHRISTCHURCH EXCHANGE. Coin. Bunk Aus (15) 1 011 7 3 5 l"nion Bunk 115 0 5 10 If) (.'lirislchurcli Gas (2) I 5 10 0 10 N.Z. Hmveriea . • 8 0 n ('. 2."> Tooth's Brewery (21 10 7 8 0 0 Electro. Zino (] >rcf.) 1 3 G 8 10 15 riio folloWlTlK KJi 1 (,'n ill.lo took plaCP!— Mount Lyell, 2:is 10'J; ditto (rights). 2a sd; Mahnkipawa, 2d (2). No return is given on Mount Lyell shares owing to the reduction in the rato of interim dividend and tho uncertainty of the final distribution. WELLINGTON EXCHANGE. Com. Bank Alia. . . 1 0 H 7 3 !> Ditto . . . , 1 1 0 7 210 Wellington Gas . . 110 'i 5 511 Ditto (pref.l . . 017 0 517 7 Staples' Brewery . . 2-19 011 8 DUNEDIN EXCHANGE. Bank of. N.Z .. 210 0 6 2 3 AUCKLAND GAS COMPANY. USUAL INTERIM DIVIDEND. An interim dividend for tho half-year ended Juno 30 at the rato of 8 per cent, per annum on tho fully-paid shares and a proportionate amount on tho contributing shares was declared by the directors of tho Auckland Gas Company yesterday. The dividend is at the usual rato and will becomo payable on July 29.

AUSTRALIAN DAIRY INDUSTRY.

AN APPEAL TO FARMERS. In a recent lecture, Mr. P. J. Carroll, supervisor of dairy exports, strongly urged dairy farmers to instituto a campaign to placo the dairying industry on a auiinder economic footing. He declared chut, by better methods, the flutter (iroiluctiun could be increased by 25 per cent., without allowing for one extra person m the industry, one additional cow, or one extra acre of land devoted to dairying. The increase on this basis, lie said, would represent 25,000 tons additional of butter produced in Australia, valued approximately at £4,000,000. 110 said that this could be achieved by better cultivation and fertilising of the land, giving the cows moro feed and rigorous culling of the herds.

Mr. Cnrro!! continued:—" Such an inci cased return is quite within the bounds of possibility, and would not even then represent the production per head of the dairy herds in Denmark or New Zealand." He said that, for the eight years ended December, 1929, the average increase of butter exports to the United Kingdom was 5241 tons, of which New Zealand contributed 4601. The lecturer added:—"lf Australia has been badly hit by the fall in value of butter in London, other countries have suffered similarly, and I am of opinion that, because of tlie wonderful natural advantages existing in Australia in regard to climate and natural fodder, no other dairying country can compete with us in regard to the cost of production of dairy produce."

"BOBBY" CALF INDUSTRY

I'i?OSrKCTS FOR SEASON,

The " bobby " calf season in the Auckland Province is now under way and although tho peak will not bo reached until next mouth freezing works aro

handling calves in fairly largo numbers. I'Voin tho present indications lha traffic in " bobby ' calves is expected to bo at least as great as that of last season, but the fact that prices for skins aro lower than they have been for a number of years is affecting values to tho extent of from Is to Is 6cl a calf.

Tlio Horotiu works are now handling about 800 calves a day and at Southdown the number is about 200 a day. At Horotiu 90,000 calves were handled last season and during tho peak, which is expected to be reached about the middle of next month, between 4000 and 5000 will probably bo handled each day. Tho Westficld works are at present receiving local calves in fairly largo numbers. These arc about three weeks earlier, than those of the Waikato Whether tho Moerewa works will ho opened to deal with calves available froni farms in the northern peninsula is still uiuvitaiii. The works wero opened last year, hut supplies were insufficient and iliev were closed after about three weeks, 2700 calves being handled. In tho previous vear the works wero opened for a longer period and 7700 calves were, handled. The opening of the works will depend upon tho dairy companies, who are called upon to guarantee a certain number of calves . One of the principal difficulties m (ho development ot tile "boldly calf industry in the North is that of collection, but. a freezing company official btated ■yesterday that farmers there seemed to bo apathetic in tho matter.

TALLOW AND HEMP MARKETS

HIGH COMMISSIONER'S REPORT

[JJV TI'I.rOJ'.AI'J!. —OWN COMIES VON DENT, j WELLINGTON. Monday.

Tho Department of Agriculture has ro-c-oivpfltho following cablegram, dated July 19, from llio High Commissioner for Now Zealand, London Tallow. —Tho spot market is quiet and steady with fair demand at auction, (V 75 packages being offered and 444 sold Frosont quotations arc:—Mutton: Fine, 31s per cv/t.; fair (o good, 26s to 29s j dark to dull, 24s (o 25s Beef : Sweet and'or mixed, 27s fid to 355; fair to good, 24s 6d to 27s 6d; dark !o dull, 23s to 245. Mixed: Fair to good, 24s to 275; dark to dull, 23s to 245. (Jut, etc., 20s to 13s. llemp.—Tho Manila market is easier under selling pressure and limited support. "J" grade sold at £22 10s for Augnst.-Oct.obei shipment, and £22 15s for September-November shipment. Sisal The marKot. 11 quiet but steady. Quotations for first grade fair average quality are £24 15s for afloat and June-August shipment, and £25 for July-SepLember and August-October shipment. Mexican sisal: It, is reporiod that 28.000 bales havp been lost by tho firo in Progreso, but the mailed is not greatly affected by the reports ns present stocks there aro 300,000 bales. For good white thr nominal quotation is £26 15s. Now Zealand The market con tinues dull and no fust hand sales are ro ported High fair is offered at £34 spot. Antwerp, but there arc no buyers Wool --The sales continue with prices better. Merino moved against buyers and prices for other sorts arc fully maintained.