COMMERCIAL

New Zealand Herald, Volume 81, Issue 24793, 17 January 1944, Page 5

COMMERCIAL

LIVESTOCK MARKETS CONDITIONS IN WAIKATO (0.C.) HAMILTON, Saturday Although light scattered showers have fallen in some parts ; these have not been sufficient to be ot any benefit to pastures which are becoming very parched in most districts. As a result the market for store stock is very quiet. At one or two of the sales held early in the year store lambs met a fair demand, but at the central yards on Wednesday prices showed a decline of 3s a head on opening rates. A number of the country lamb and wether fairs will be held during this week and unless heavy rain falls in the meantime the prospects "for Iflet- year's rates do not appear bright. With the unfavourable season many lambs which in past years would have gone away as fats will now be stores and present indications are that larger entries of this class will be penned. A number of sales of ewes for forward delivery were effected last month, but so far very few local lines have been sold and the market for these has not yet been established. Few station-bred store cattle are coming to the market and the 6mall lines offering elicit little competition and sales of this class are hard to effect. "With the prolonged dry spell, farmers are disposing of surplus stock and fairly large entries of boner cows and potter bulls are coming forward. Values for these remain firm. Beef.—Fairly large entries of fat cattle are being penned at the main centres and supplies at most sales are fully equal to the demand and values show little alteration from ihose ruling at the opening sales of the year. However, owing to the shortage of feed some vendors may be forced to sell earlier than anticipated and it is auite probable that larger yardings may come forward in the near future. Heavy prime steers sell from £l4 10s to £ls 10s; prime, £l3 to £l4; light, £ll to £l2; unfinished, '£9 10s to £lO 10s; heavy prime young cows and heifers, £9 to £10; prime, £8 to £8 15s: light. £6 10s to £7 106. Mutton.—Large yardings of fat sheep are coming forward at the main centres. Values for prime, well-finished light-weight wethers remain firm, but prices for heavy descriptions are a shade easier. Owing to the congestion at the works, exporters can only purchase very limited numbers of fat ewes, the local butchers being practically the only competitors for this class and lower rates are obtained. Heavy prime wethers sell from 28s to 28s ftd; prime medium-weights, 28s 6d to 27s 6d ; light, 25s to 265; heavy ewes, 12s fid to ,13s (ui; medium, lis to 12s; lighter. 9s to 10s (id. ' ■ Pigs.—Large offerings of fat pigs are , being penned at all the main sales. Competition for baconers is steady, and recent quotations for this class are maintained. With the drop in the milk supply, buttermilk feeders are not very active and prices for pigs suitable for these buyers are lower. There is little demand for stores and weaners and sales are difficult to effect, except at low rates. Baconers sell from £3 15s to £4 12s-, heavy porkers and buttermilk pigs, £3 to £3 12s; medium porkers, £2 10s to £2 18s; light, £2 to £2 Ss; large stores, 30s to 3o«; slips, 12? to 20s; weaners, oe to 10s. PRICES AT MORRINSVILLE (0.C.) MORRINSVILLE. Sunday Store lambs were in demand at the Morrins ville stock sale on Friday and sold at prices considerably in advance of those ruling at other centres. The entry was not large. Values remained steady for a medium entry of beef. A full yarding of store and boner cows realised values slightly in advance of other recent sales. Owing to the dry weather a record yarding of pigs was penned. Competition for - fat pigs was very steady at recent quotations. Store and weaner pigs were very dull of sale, and in most cases vendors met the market. Quotations:—Light fat wethers, 23s to 255; woolly fat hoggets, 25s to 26s 6d; white face weiher lambs, 13s 9d to 14s 3d; white face ewe lambs, 14s 3d; good-conditioned black face lambs, 14k 3d to 15s 7d; small white face lambs, lis 6d. Heavy fat Shorthorn cows, £8 to_ £9; medium fat cows, £6 10a to £7 15sj light fat Jersey cows and heifers, £4 15s to £6; heavy boner cows, £4 5s to £5; medium, £3 10s to £4; storg, £2 10s to £3 ss; potter bulls, £4 to £8 12s 6d. Heavy choppers, £3 5s to £4 2s; others. 30s to £2, 15s; heavy baconers, £4 8s to £4 lis; baconers, £4 2s to £4 6s; light, £3 15s to £4; heavy porkers, £3 to £3 12s; medium, £2 10s to £2 18s; light, £2 to £2 6s; large stores, 3Ds to 365; smaller, 22s to 26s 6d; slips, 12s to 17s 6d; weaners, 5s to 10s.

RESERVE BANK RETURN STERLING £57,245 HIGHER iP• A,) 'WELLINGTON, Saturday The Reserve Bank return for the week ended Monday, January 10, with variations in the figures compared with thC6e in the previous week's return, is as follows: LIABILITIES Variation Gen. reserve .. 1,500,000 Same Bank notes . . 37.082,294 - 454,281 Demand liabilities— State . . . . 18,364,280 +3,510,69S Banks . . . . 32,713,381 -956.456 Other , . . . 431,300 +227,534 Other currencies . . 8,907 -1,847 Other liabilities, .. 1,946.029 -2,090,509 Total .. . . 92.046.191 +205,139 ASSETS Reserve — Gold .. 2,801,877 Same Sterling Ex. .. 34,964,458 +57,245 Subsidiary coin .. 68,173 +1,106 Advances—Marketing .. 1,116,874 +274,096 Other .. .. 40,635,000 Same Investment .. 10,323,677 - 643 Other assets .. .2,136,132 -126,665 Total .. .. 92,046,191 +205,139: Proportion of reserve to notes and other' demand liabilities, 42.620 per cent (43.686 last week). The principal items in this week's return' are compared with those at the corresponding date . last year in the following table: — (OOO's omitted) 1944 1943 Variation £ £ £ Notes .. .. 37,082 30,360 +6,722 Deposits— State .. 18,364 13,645 +4,719 Banks .. .. 32.713 19,469 +13,244 Exchange .. 34,964 26,572 +8,392 Advances—• Marketing .. 1,117 1,620 -.503 Other . . . . 40,635 30,000 +10,365 Ratio (per cent) 42.620 45.669 -5.049 SECURITIES IN LONDON LONDON, Jan. 15 Quotations in London for British and New Zealand stocks compared with recent levels are:— Dec. 30 Jan. 6 Jan. 15 Consols, 2% p.c. .. £797,, £79% £79% Funding, 60-90, 4. . 113% e 113% 113% War Loan, 3% .. 103% 103%„ 103%, British 3% Conver. 104% 100% 6 105 Victory Bonds .. 113% s 113% 113%, New Zealand—--1948-58, 4% .. 105 11 / ib 105% 105% 1915, 3; . .. 100% 101 100% Government stocks are steady and fairly active. • CALL AND DIVIDEND LIST Dividends— ' Due Nat. Bank N.Z. —int., 1% p.c. (less U.K. income tax) .. .. Jan. 25 British Tobacco—int., pref., 1% p.c. Jan. 28 Millaquin Sugar—int., 3% p.c. .. Jan. 28 Sul . Corpn.—pref., 5 p.c. (less inc. tax 10/-) .. .. .. Jan, 29 1.C.1, (Aunt, and N.Z.) —final, halfyear pref,, 2% p.c. (books Jan. 15) Jan. SI Wright, Stephenson—int.. 2% p.c. (books Jan. 24) .. .. Jan. 31 Gear Meat—6d .. .. .. Jan. Com. Bank Aus. —int., pref., 2 p.c.; ord., 3 1-3 p.c. (books Jan. 19) Feb. 4 N.Z. Insurance —int., 1/- (books Jan. 26) .. .. .. Feb. 9 Woohvorths, Ltd.—final, Ist. pref., 5 p.c.; 2nd pref., 3% p.c. .. Feb. 15 MEAT PRODUCTION (P.A.) WELLINGTON, Saturday In the first report of export killing at New Zealand freezing works this season issued by the New Zealand Meat Producers' Board the handicap of dr.v climatic conditions is evident. Official figures cover the period from the opening of the works till January 1, and show that 'this season's export lamb production, compared with the corresponding period last season, declined to the extent of 760,906 carcases, Details of lamb and mutton killings with those of the previous season in parentheses are as follows: North Island: Lamb carcases, 1,056,467 (1,633,973); wether mutton, 17,094 (37,172); ewe mutton, 15,820 (73,263): South Island: Lamb, 112,941 (-296,341); wether mutton, 49 (17); ewe mutton, 493 (563). Totals: Lamb, 1,169,40S (1,930,314); wether mutton. 17,243 (37,189): ewe mutton, 16.313 (73.526).