COMMERCIAL

New Zealand Herald, Volume 80, Issue 24675, 30 August 1943, Page 5

COMMERCIAL

LIVESTOCK MARKETS CONDITIONS IN WAIKATO (0.C.) HAMILTON, Saturday The weather has recently shown an improvement and pastures are making a little growth, but there appears to have been a particularly good even lambing this season, and with this additional stock to feed most graziers are rather short of feed. As a result the-' market for store cattle shows little alteration. However, the demand for yearling Jersey heifers has sharpened and prices .have shown a further improvement. Empty two-year heifers attract more attention and values have a firming tendency. The market for dairy cattle has been erratic. Good quality, well-grown heifers, close to profit, continue to sell readily at recent quotations, but inferior cattle are neglected. In the store sheep section there is a ke«n demand for store hoggets and recent improved quotations have he-en maintained. A few small lines of ewes with lambs at foot have been yarded and sold to lis 9d all counted. Beef.- Only small entries of fat cattle are coming forward at all centres and in most cases supplies arc scarcely sufficient for requirements. As a result recent advanced rates are being maintained, the increase for cow and heifer beef being more pronounced than for ox beef. Extra heavy prime steers sell from £lB to £l9; prime, £lO 10s to £l7 10S; lighter, £ls to £10; heavy prime young cows and heifers. £l3 to £ls; prime, £ll 10s to £l2 10s; light, £lO to £11; prime Jersey cows, £8 to £lO. Mutton.—Considering the unfavourable autumn, supplies of fat sheep are holding up well and values show little alteration. A few lines of early shorn wethers are now coming on to the market, and in some cases where the lambing is nearly finished farmers artgoing through their flocks and taking out the dry ewes. The export season for lambs closes at the end of this month and farmers with fat and killable lambs are disposing of them before this date, with the result that larger offerings have been penned at most centres. Heavy prime wethers sell from £2. to £2 3s; prime. 37s Od to 395; light, 33s to 355; extra prime ewes, 31s to 33s 6d; prime, 28s (o 30s; lighter, 25s to 27s 6d; | unfinished. 12s to 17s. Pigs. -Values for the medium yardings of fat pigs which are coming on to the market show little alteration. Last week's decline in prices for stores has not been regained. The j demand for breeding sows is also easier. Baconers sell from £3 15s to £5 le; buttermilk pig< and heavy porkers. £3 3s to £3 l is; medium porkers £2 12s to £3; large stores. £2 5s to £'2 12s; medium. 3Ss to £2 3s; slips, 2-Ss to 355; weaners, 12s to 255. PRICES AT MORRINSVILLE (0.C.) MORRINSVILLE, Saturday Late rates were maintained for the small yarding of fat sheep, consisting mostly of lambs, offered at the Morrinsville stock sale. A medium entry of beef met a strong demand at higher values Quotations:—Fat wethers, 36s to 38s 3d; fat ewes, 27s t-o 298 3d; prime heavy fat lambs, 29s 6d to 32s 3d; prime. 26s to 28s : medium. 23s Od to 25s fid; light and unfinished, 18s to 21s; ewes and lambs (all counted), 13s Od. Light fatsteers, to £l2 I ts; heavy fat Jersey cows, £8 to £9 ss; medium, £0 lOs to £7 15s; light fat cows and heifers. £'s 10s to £6.55; boner cows, £3 10s to £5; store cows. £2 to £3; forward-conditioned three-year Polled Angus steers. £lO to £ll os; store threeyear Polled Angus steers. £.B 15s to £9 4s; Hereford cows, running with Polled Angus bulls, £5 Is to £0 9s; empty two-year Jersey heifers, £2 15s to £3 15s; medium Jersey heifer calves, £4 4s to £5; small heifer calves. £3 5s to £4; choice heifers, £lO-10s to £l3 10s; good quality heifers, close to profit, £lO 10s to £J 2; medium, £9 to £10; smaller, £7 to £8; small and backward,"£s to £G; good quality cows, £lO to £ll. Choppers. £2 to £4 9s; prime heavy baconers, £4 ISs to £5; heavy, £4 12s to £4 16s; medium, £4 4s to £4 10s; light, £3 15s to £4; butter-milk pigs and heavy porkers, £3 to £3 I'Js; medium porkers, £2 12s to £2 18s; light, £2 4s to £2 10s; large stores, £2 5s to £2 12s; smaller, 30s Od to £2 2s; slips, 28s to 34s <>d; weaners, 18s to 26s 6d; sows to farrow, £2 10s to £6 ss; sows with litters. £5 2s Od to £11; Devon hoars, to £2 15s; Tamworth boars, to £2 15s. CHAIN STORE BUSINESS Mainly because of a shortage of goods toi civilian use, sales of G. J. Coles and Company (Melbourne) in the last financial year had declined by more than £1,000.000, said the chairman, Mr. G. J. Coles, at the annual meeting. This was the first year that a falling off in business had been reported. Reserve stocks in most departments had practically disappeared. Many liijes of merchandise were now being sold which would not be considered suitable for trade in peacetime. COMMONWEALTH BANK Wartime finance is reflected in expansion of the balance-sheet figures of the Commonwealth Bank for the year ended June 30. Total profits at £3,165,118 show an increase of £932,630. The chief factor in this, arising from expanded circulation, is an increase of £589,562 in the note issue profit to £2,247,702, all of which goes to the Commonwealth Treasury. General banking profits are £873.135, an increase of £346,228. Holdings of Government securities total £199,723,000. against £91,419,000 the previous year

HUME PIPE (AUST.) Profit of Hume Pipe Company (Australia), Limited, for the year ended Jane 30, increased from £22.549 to £25.571 in both cases after providing £20,000 for taxation. The usual preference dividend of 3% per cent, making 7% per cent for the year, is being paid, and the directors recommend a dividend on ordinary shares of 4 per cent, compared with 2% per cent last year. BROKEN HILL PROPRIETARY The price of steel in Australia remained the cheapest in the world, said the chairman, Mr H. G. Darling, at the annual meeting of the Broken Hill Proprietary Company. Limited. in Melbourne. This was in spite of the increase in price last October, which was due to rising costs and was approved by the Prices Commissioner. During the past year the steel plant was worked to maximum capacity. The ferro-alloys plant was meeting a wide variety of Australia's requirements, besides the company's own. Production of the magnesium plant was now at a steady rat-e. Stainless steel and a variety of special alloy and t-00l steel were being turned out. DUNLOP RUBBER PROFIT Dunlop Rubber, Australia, Limited, announces that profit for the year ended June 30 is £357,149. Previous year's profit was £323,109. after including in taxation provision about £58,275 short provided for 1940-41. Dividends, including ordinary of 5 per cent (unchanged) require £281,252. CEILLNG PRICES OF SHARES Fixed ceiling prices of shares on the- Stock Exchanges unjustly penalised holders who wore forced to sell, said the chairman, Mr. T. H. Kelly, at the annual meeting of the Perpetual Trustee Company (Sydney). The only benefit, he added, was to buyers, because they bought- shares below true market value. The ceiling did not divert funds to war loans, nor make fresh funds available for loans. In somo cases, particularly of trust estates, the restrictions actually prevented realisations which would have resulted in the proceeds being reinvested in war loans. FOREIGN EXCHANGES Closing telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres on Saturday were supplied by the Rank of New South Wales as follows: — August 28 T.T. T.T.

Buying Selling New York, dol. to £ .. 3.2542 3.2030 Montreal, dol. to £ .. 3.6039 3.5290 India, pence to rupee . . 22 3-16 22% Ceylon, pence to rupee . . 22 3-16 22 3 /, S.A., £N.Z. £S-A. 100 123 125/3/6, London. £N.Z. £st. 100 124/7/6 125 Australia, £A. CN.Z. 100 100/10/- 100 Fiji, £F. £N.Z. 100 . . 90 88/12/6 Chungking. N.Z. pence to Chinese dollar . . 4a CALL AND DIVIDEND LIST Dividends— Due K.D.Y. Boxes—final, 4 p.c. . . Sept. 1 Southland Fr. Meal—int., 8d .. Sept. 1 Nth. Roller—int., pref.. 5 1-5 p.c. Sept. 1 Carlton Brew.—int., 6% per cent- . Sept. 1 Whittome, Stevenson—6 p.c. . . Sept- 1 Masonite —final, ord., 4% P-c. .. Sept. 8 Wool worths (W.A.)—int., ord., 5 p.c. Sept. 15 Huddart-Parker —int., pref., 3 p.c., ord., 5 p.c Sept. 16 Macduffs—pref., 4 p.c Sept- 1" Dunlop—final, pref., 5 p.c.; oTd.. ■2Y 2 p.c . . Sept.. a Standard Insurance —final, 1/3 •. Sspt. r » Hume Pipe (Aust.)—final, pref--3 p.c.; ord.. 4 p.c. Oct.