COMMERCIAL

New Zealand Herald, Volume 80, Issue 24747, 22 November 1943, Page 5

COMMERCIAL

LIVESTOCK MARKETS CONDITIONS IN THE WAIKATO (0.C.) HAMILTON, Saturday The outstanding feature of the past week's sales was the improvement in the market for store cattle. Feed is now plentiful in all districts and this has stimulated the local demand. However, young cattle appear to be short of requirements in southern districts and buyers from these localities have been operating. This additional competition lias been mainly responsible for the increased prices. Only small entries of yearling Jersey heifers are coming forward and values 6how. little alteration. Good quality dairy cattle continue to sell readily. At Morrinsville a whole herd of cows elicited keen competition and sold from £lO to £l4, while at other centres heifers close to profit sell from £lO to £l2. Many farmers are now busy snsilagemaking, with the result that smaller entries of boner cows have been penned •at most centres, but values remain very firm. There is only a limited inquiry for service bulls and values have shown a decline. Smaller yardings of store sheep have recently been offered. The demand for good hoggets is a shade firmer and prices have improved. Ewes and lambs are also wanted and a number of sales have been effected at prices up to 17s all counted.

Beef. —Larger entries of fat cattle are being penned at most of the main centres and the reduced rates obtained a fortnight ago have been maintained. At a few of the country sales where small yardings have been offered prices have been a shade firmer, but on the whole the supply appears to be sufficient for the demand. Heavy prime steers sell 'from £ls JOs to £l6 10s; prime, £l4 to £ls; light, £l2 10s to £l3 10s; heavy prime young cows and heifers, £ll to £l2 10s; prime, £9 10s to £lO 10s; light, £8 to £9.

Mutton. —Medium entries of fat sheep, including a large proportion of hoggets, are coming: forward. Competition for th'ese and for prime wethers has remained 6teady and prices were a shade firmer at some sales. Values for ewes tended to ease at some centres. Heavy prime wethers sell from 30s to 32s 3d; prime, 28s to 29s 6d; lighter, 25s to 27s (id; prime hoggets. 25s to 26s 6d; lighter, 23s 6d to 24s (id; heavy prime ewes, ISs to 20s; medium, 15s to 176; lighter, 12s to 14s.

Pigs,—Large penning® of fat pigs are being offered at all centres. Prices for baconers remain steady at recent quotations, while pigs suitable for finishing are keenly sought at prices in vendors' favour. Stores and weaners also meet a ready 6ale at very firm rates. Baconers sell from £3 15s to £4 12s; buttermilk pigs, £3 3s to £3 ISs; large stores, £2 10s to £2 ISs; slips, 35s to £2 ss; weaners, 20s to 30s. PRICES AT MORRINSVILLE (0.C.) MORRINSVILLE. Saturday A medium yarding of fat sheep was offered at the Morrinsville stock sale yesterday, 'prices realised being on a par with late rates. Values for beef were steady, while boner cows and Jersey heifers were firm. Dairy cows in milk commanded a ready sale at higher prices. Quotations: —Fat wethers, 236 9d to 265; woolly hoggets, 25s 3d to 26s sd; fat ewes, 15s to 17s 3d; ewe hoggets, 226 (id. Medium fat cows, £7 to £7 10s; light fat Jersey cows and heifers, £5 10s to £6 10s; heavyboner cows, £4 10s to £5 ss; medium, £3 10s to £4; store cows, £2 10s to £3; twoyear empty Jersey heifers, £3 10s to £4 Os; yearlings, £5 to £6; smaller mixed coloured yearling heifers, £4 to £4 176; yearling Shorthorn heifers, to £5; potter bulls, £5 10s to £7 10s; good quality Jersey cows, in milk, £l2 to £l3 15s; medium, £9 10s to £ll 10s; good Jersey cows, close to profit. £8 to £9 ss; good Jersey heifers, close to profit, £7 15s to £8 10s; backward sorts, £5 to £7. Choppers, £2 to £3 19s; heaTy baconers, £4 30s to £4 12s; medium, £4 2s to £4 8s; light, £3 15s to £4; buttermilk pigs and large stores, £3 to £3 18s; smaller stores, £2 10s to £2 18s; best slips. 356 to £2 ss; others, 26s to 325; weaners, 12s to 20s; sows to farrow, £3 10s to £4; service boan, to £2. / COLONIAL SUGAR COMPANY DIVIDEND UNCHANGED An interim dividend at the unchanged rats' of 17s a share, equal to 8% per cent per annum, is announced by the directors of the Colonial .Sugar Refining Company, who state that this payment represents little more than 4 per cent on the cost of the company's assets. At the request of sections of the sugar industry other than the company, the Commonwealth Government has directed the Tariff Board to investigate whether payment of a subsidy to the raw sugar producing industry is warranted. In this connection the directors state that the company owns seven out o! the 36 mills producing raw sugar from cane in Australia, but, except for experimental purposes, it grows practically no cane in the Commonwealth. Temporary withdrawal of tablet Bugar from the market is entirely due to service requirements, the report adds. CHAIS STORE PROFITS WOOLWORTHS (N.Z.) IMPROVE Woolworths (N.Z.), Limited, reports net profit of £85,337 for the year ended October l, compared with £77,726 for the previoui year and £94,612 in 1941. The increase of £7611 is shown after allowing £225.840 for taxation, a decrease of £7770. Ordinary dividend is steady at 10 per cent, requiring £62,260, and 9 per cent preference dividend absorbs £3938, less New Zealand security taxes. Carry-forward is increased from £4B to £19,187. WOOLWORTHS (VICTORIA) Subject to taxation, profit of Woolworthi (Victoria), Limited, at £44,752 for the year ended September 30, shows a decrease of £25,226. Ordinary dividend remains at 11 per cent, requiring £24,751, and 7 pe.r cent preference dividend amounts to £5600. Taxes paid were £29,260 (against £35,162 last year) and, with £63,574 brought forward, the carry-forward is £48,745, from which any further tax assessments will be met The directors report a material reduction in turnover. Stocks appear at £297,636, against £277,57S a year ago. AUSTRALIAN WOOL The average appraised price for Australian greasy w r ool this season is 13.48 d per lb. which is .42d per lb less than the average at the corresponding date last year. Australian appraisements to date this season total 1,214,612 bales, valued at £22,359,1 S3. Thig sum, less 5 per cent, has already been distributed to growers. Since the war began Britain has paid Australian growers £284,286,626 for wool and £5,467,667 for sheepskins.

FOREIGN EXCHANGES Closing telegraph rates for purchases and sales of foreign exchange Auckland on overseas centres on Saturday were supplied by the Bank of New South Wales as follows: — November 20 T.T. T.T. v Buying Selling New York, dol. to £ .. 3.2542 3.2050 Montreal, dol. to £ .. 3.6039 3.5290 India, pence to rupee .. 22 3-16 22% Ceylon, pence to rupee .. 22 3-16 22% S.A., £N.Z. £S.A. 100 123 125/2/6 London, £N.Z. £st. 100 124/7/6 125 Australia, £A.£N.Z. 100 100/10/- 100 Fiji, £F. £N.Z. 100 .. 90 SS/12/6 Chungking, N;Z. pence to Chinese foliar . 4d CALL AND DIVIDEND LIST Dividends — r r "Rj 6 National Insurance —final, 5d .. io-day Leyland-O'Brien—final, Is . ov - 24 N.Z. Paper Mills —int., 3 p.c. .. £>„ov. 24 Wilsons Cement —int., 2'/ 2 p.c. .. N;ov. 24 Tooth and Co.—final, 12 p.c. p.a. Nov. 24 Nat. Bank A'asia —final, 2% p.c. Nov. _4 Broken Hill Pty.—int., 6d • • Nov- 24 Timaru Wool —5 p.c. • - ■ • £ ov - Bank N.S.W.—final, qr., 6s .. Isov. 2b Farmers' Trad.- —pref., int. (1944) A and B. 5 3-5 p.c. p.a.; C--5 p c p.a • • • * * Westport Coal —final, 6d . . • • 5 0V " 30 Mosgiel "Wool —final, 6 p.c. •. £<>*• Kauri —final, 3 p.c. ■ • •• ■ Csov Bruce Woollen —final, pref., 5 3-5 p.c. p.a.; ord., 6 p.c. and 2 p.c. bonus • ■ * Colonial Sugar—int., 17s . • ■ *■ Fletcher Holdings—int.. pref. and ord., 8 p.c • • Dec. 1 Swan Brewery—half-year, pref., 3 pc ; ord., tid. plus bonus 3d . . -Dec. i Pato Consol.— half-year, 15 cents, Canadian, less absentee tax lo p o Dec. 3 Bank'N.Z.—int., ord., 3 p.c.; D mort., 7V 2 p.c. p.a. (less Id for every Sd for security taxes) . Dec. Wool worths (N.Z.) — final, 5 p.c. .. Dec. / Woolworths (Vic.) —11 p.c. •• Q Waihi—2% p.c., less U.K. tax .. Dec. 9 J. C. Williamson—ord.. 2 3 / 4 p.c. .. Dec. 9 N.Z. Breweries—int., 3 p.c. Dec. 9 A - c V n p l .c'. PFef " 4 ' /a P ' C ' ; "• Dec. 15 Placer—half-year, 25 cents, Canadian. less absentee tax 15 p.c. Dec. 15 Henry Jones—final, is 6d.. ■ Dec. 15 Taringaiiiutu-Totara —final, Z~/t p.c. Dec. E„ S. and A Bank—final. 3/ a p.c. less U.K. tax . . • • Dec. 16 Reid Rubber—op.c.. ~ •• Dec. i. Broken Hill South—int., 3s .. Dec. I« Mt. Lyell—final, is 3d .. * Dec. 20 North Broken Hih —Is •• Dec. - Electro Zinc—final, pref. and ord., Morris Hedstrom—int ord.. 4% p.c. Dec. 31 Manawatu Mills —final, i A p.c. D . Goldsbrongh Mort—int., 2 p.c. • • yec. Wellington Wool.—int., 3 p.c. ■■ Jan.