COMMERCIAL

New Zealand Herald, Volume 80, Issue 24759, 6 December 1943, Page 5

COMMERCIAL

LIVESTOCK MARKETS 1

CONDITIONS IN WAIKATO (0.C.) HAMILTON, Saturday Heavy rain has fallen throughout the district and pastures, which were beginning to show the effects of the recent hot weather, are making an excellent growth. Ensilage making is being carried out on many farms and early crops of hay are also being cut. With the present flush of feed there is a firmer demand for practically all classes of store stock. Well-bred store steers ar.e keenly sought at advanced rates and good quality empty heifers and young cows also meet a ready sale at very firm rates. The market for yearling Jersey heifers has also shown a definite improvement during the past two weeks and, although it is late in the season for this class, there is a 6trong inquiry for the small lines offering. Medium yardings of boner cows continue to sell readily at recent rates. There is also an improved demand for store sheep, but with the present flush of feed comparatively small numbers are offering. .At the Matiunata centre on Wednesday a line of well-grown, good-woolled, twotooth ewes realised 35s lod. while another line of well-grown, shorn two-tooth ewes sojd at 27s lid. At most sales the offerings comprise wether hoggets and values for these nave also hardened. Beet.—Values for well-finished cattle have shown a firming tendency during the past two weeks. Fewer lines of unfinished steers are being penned at the main centres. Female cattle comprise the bulk of the entries at most of the country sales and prices remain very firm. Heavy primo steers sell at £ls 15s to £l7 10s; prime, £l4 to £ls; light, £l2 10s to £l3 10s; heavy prime young cows and heifers, £ll to £l2; medium weights, £9 10s to £lO IGs; light, £8 to £9. Mutton.—Entries of fat sheep at most centres include a large proportion of hoggets and ewes. All prime sheep continue to sell readily and the slightly improved rates ruling a fortnight ago have been maintained. Medium entries of spring lambs also sell at recent quotations. Heavy prime wethers, 30s to 31s; prime, 2Ss to 295; light, 26s to 275; heavy prime hoggets, 25s to 27s 6d; medium, 23s Od to 24s Od; heavy fat ewes, 17s -to 19s; medium. 15s to 10s; light, 10s to 13s. Pigs.—Large yardings of fat pigs are being penned. Competition for baconers and buttermilk pigs is firm and recent quotations are fully maintained. The market for small stores and weaners is erratic and prices have been easier at a number of sales. Baconers sell at £3 15s to £1 12s: buttermilk pigs, £3 3s to £3 10s; large stores. £2 108 to £2 18s; slips, 30s to £2; weaners. 12e (3d to 22s Od. PRICES AT MORRINSVILLE (0.C.) MORRINSVILLE. Saturday A medium yarding of fat sheep at Morrins villo yesterday sold under keen competition at late rates. Beef cattle sold at unchanged prices and boner cows improved. All classes of fat pigs were in demand, also large stores, but rates for slips and weaners were easier Quotations:—Prime wethers. 27s 6d to 32s 9d; medium, 23s to 255; heavy fat ewes, 10s to 10s Sd; medium fat. I2s to 14s. Fat Shorthorn cows, £8 to £8 15s: fat Jersey cows and heifers. £6 5s to £7 ss; lighier. £5 to £0; heavy boner cows. £1 15s to £5 15s: medium, £3 10s to £4 10s; store cows. £2 10s to £3; two-year empty Jersey heifers. £3 10s to £4: small yearling Jersey heifers. £4 to £4 11?; potter bulls, £0 to £8 ss. Heavy choppers. £3 to £3 18s; others, 30s to £2 15s; heavy baconers. £4 8s to £4 10s; medium. £4 2s to £4 Gs; light, £3 15s to £4: butter-milk pig§ and large stores, £3 to £3 18s; smaller stores, £2 Os to £2 12s; best slips, 32s to 38s Od; others, 20s Od to 30s 6d; weaners. 15s to 22s Od; sows to farrow, £4 to £4 10s; service boars, to £3 10s. MINING NEWS FIJI COMPANIES' RESULTS A fall in profit from £151,13S last year to £51,015 is disclosed by Loloma (Fiji) Gold Mines, N.L., for the year ended July 31. The latest profit is after providing for taxation, £17,854 (last year £30,712), for depreciation £10,345 (£10,819), and mine development £19,083 (£40,729). No dividend was paid, and the credit balance has beeD increased to £2l 7,007. A profit of £00,744 shown by Emperor Gold Mining Company, Limited, for the year ended June 9, compares with £141,975 for 1941-42. It is struck after providing (in Fijian currency) £35,353 for taxation (£25,209 last year), £20,802 for depreciation (against £32,431), and £43,825 for mine development (against £47,140). Emperor Mines, Limited, shows a loss of £472, mainly because no dividends were paid by the operating company. The result compares with a profit of £19,180 last year. NORTH BROKEN HILL Unless affected by shortage of water, output of the North Broken Hill, Limited, mine for the current year should at least equal that of the previous year, said the chairman, Mr M. H Baillieu, at the annual meeting in Melbourne. EGG PRICES HIGHER An increase in the prices of hen eggs by '/ a d to 2d a dozen, according to grade, operating from to-day is notified by the Auckland Egg Marketing Committee The new schedule is as follows: —Heavy heus, 2s a dozen wholesale, 2s 4)' ? d retail; standard. Is ll'jd and 2s 2d; medium, Is O/jd and 2i; pullet, Is Od and Is Sd; ungraded. Is 9V a d; standard ducks, Is 10' id and 2s Id; medium. Is BVjd and Is lid; small, Is syd and Is 7Vid; ungraded is O'/sd. In all districts outside emergency marketing areas prices will be iy a d a dozen less for graded eggs and Id a dozen for ungraded, making country storekeepers' buying price for ungraded hens is and ducks Is sd. NATIONAL TOBACCO The accounts of National Tobacco Company (Napier) for the year ended October 31 show a net profit of £17,302, compared with £3013 the previous year and £5445 in 1941. Taxation requires £38,730. The directors recommend a dividend of 7% per cent on preference and ordinary shares, unchanged This requires £12,325. leaving £4977 to he carried forward. ffUME STEEL PROFIT In a preliminary statement Hume Steel. Limited (Melbourne), reports a profit of €29,721 for the year ended September 30. after providing £27,000 for taxation, compared with £23.521 the previous year, when tax provision was £32,000. Preference dividend of 7'/, per cent absorbs £11,250. and unchanged ordinary of 2 I A per cent requires €0250. SECURITIES IN LONDON LONDON, Dec. 3 Quotations in London for British and New Zealand stocks, compared with recent levels, are:— Nov. 11 Nov. IS Dec. 3 Consols, 2 1 /, p.c. . . £79% £S0 l a. *£79'/. Funding, 60-90, 4 113% 113' A, 113 s /„ War Loan, 3% .. 103VJ 103%, 108y a British 3% Conver. 104% 105 V, 105 Victory Bonds .. 113% 113%, 113% New Zealand — 1948-58, 4% .. 1047, 105 M, 105% 1945, 3 . . 100 IOOVi 100y 3 • *Ex dividend. British Government issues are steady with New Zealand and Australian slightly more active. FOREIGN EXCHANGES Closing telegraphic rates for purchases and sales of foreign exchange Auckland on overseas centres on Saturday were supplied by the Bank of New Suuth Wales as follows: December 4 T.T. T.T. Buying Selline 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. 100 123 125/2/0 London, £N.Z. £st. 100 124/7/6 125 Australia, £A. £N.Z. 100 100/10/- 100 Fiji, £F. £N.Z. 100 . . 90 BS/12/0 Chungking, N.Z. pence to Chinese dollar .. 4d CALL AND DIVIDEND LIST Dividends— Due Wellington \\%ol —int.. 3 p.c. .. To-day. Woolworths (N.Z.) —final, 5 p.c. .. Dec. 7 Woolwortiis (Vic.) —11 p.c. . .. Dec. 7 "Waihi—2 1 / 2 p.c., less U.K. tax .. Dec. 9 J. C. Williamson—ord, 2% p.c. .. Dec. 9 N.Z. Breweries —int.. 3 p.c. . .. Dec. 9 Tattersfieid—S p.c. . .. .. Dec. 10 Traders' Finance —3'A p.c. . .. Dec. 10 A.C.l.—int., pref., 4 s / a p.c.; ord., 3% p.c. . .. Dec. 16 Placer—half-year, 25 cents, Canadian, less absentee tax 15 p.c. Dec. 15 Henry Jones—final, Is od . .. Dec. 15 Taringaniutu-Totara—final, 3Va p.c. Dec. 16 E„ S. and A. Bank —final. 3Va p.c., less U.K. tax . . . .. Dec. 16 Nat. Tobacco—ord. and pf., 7% p.c. Dec. 16 Blackwater—int., 4d (tax free) .. Dec. 16 Consol. Gold—final, 2d (tax free) . Dec. 16 Nat. Electric—op.c. .. .. Dec. 17 Araliura —Is . : . .. ••• Dec. 17 Dom. Breweries—int., ord. and pref., 4 p.c. .. .. .. Dec. 17 Reid Rubber—op.c. , .. .. Dec. 17 Broken Hill South—int., Is .. Dec, 17 Devonport Steam —int., 6 p.c. p.a. Dec. 18 Mt. Lyell—final. Is 3d .. .. Dec. 20 North Broken Hill—ls .. . .. Dec. 21 Kanieri—ls . .. .. .. Dec. 22 British Tobacco—final. 1 p.c,, also int., 2 p.c. .. .. .. Dec. 31 Electro. Zinc—final, pref and ord.. 5 p.c. .. . . .. .. Dec. 91 Morris Hedstrom—int., ord., 4% P-c. Dec. 31 P. and O.—final, pr.ef., 2% p.c.. def., 3 p.c., plus bonus 3 p.c. less U.K. tax Dec. Goldsbrough Mort—lnt.. 2 p.c. .. Dec. Hume Steel—pref., 3% p.c.; ord., 2y a p.c. . . .. .. Dec. Ballins Breweries —final, 3 p.c. .. Dec. Union Steam—pref., final, 2% p.c. • Dec. G. J. Coles—int., prof., 4 p.c. .. Jan. 4 Woolworths Props.—half-year, pref., ord., 3 p.c. .. -• Jan. 15