COMMERCIAL

New Zealand Herald, Volume 81, Issue 25049, 13 November 1944, Page 2

COMMERCIAL

BRITAIN'S INDUSTRY POST-WAR PROBLEMS It has been authoritatively estimated that 'to put Britain's industrial fabric into a state of efficient up-to-dateness after the war will require an investment of between £1,000,000,000 and £1,200,000,000 a year for five years, says a London cable message. Commentators emphasise that the achievement of this annual saving will involve a Spartan spirit of abstention from current consumption on the part of the masses. Banking and business circles believe that the ground has been ill-prepared for such an approach to peace problems by lavish promises of politicians. Increases in the national debt charge, social services, social insurance, industrial injury, insurance, school meals and trunk road charges reach an immediate additional Budget burden of i'.'iOl ,000,000. Even this figure excludes the incalculable cost of housing subsidies, war pensions or war damage, and makes no allowance for a permanent increase in national defence expenditure or for financial assistance to industry in the transition period. LIVESTOCK MARKET PUKEKOHE QUOTATIONS (0.C.) PUKEKOHE, Saturday There was a medium entry of dairy cuttle at Alfred Auckland and Sons' Pukekoho sale. The quality was not up to the usual standard and values were easier compared with those ruling a fortnight previously. Best heifers close to profit sold from £ll to £ls; medium quality, £0 to £lO 10s; backward sorts, £7 10s to .€8; small, £5 15s to £7; best cows in milk and due to calve, £9 to £11; others, £5 10s to £8 10s. A good yarding of fat, store and boner cattlo was offered and bidding was spirited throughout, values remaining firm at late rates. Yearling heifers and service bulls were penned in good numbers, but prices wero easier than at recent sales. Heavy prime bullocks made £l7 5s to £lB ss; prime Polled Angus cows, £lO 15s to £ll 17s; prime Hereford cows, £lO to £lO Us; heavy prime Jersey cows. £8 to £9; medium Jersey cows and heifers, £7 10s to £8; light, cows and heifers, £0 10s to £7 ss; heavy boner cows, £<> 10s to £7 10s; medium, £5 to (,'(>; lighter. Lit 10s to £t 10s; best yearling Jersey heifers, l' 7 to £7 17s (id; medium, tu Li; 10s; service yearling and two-year-old bulls, Ngns In IMgus; poller bulls, lo There was keen compeiilion for a large entry of fat sneep, which siiltl at firm rales. The advertised ewe hoggets sold steadily, realising CI Os (id Heavy fa I woolly wethers realised £1 Ms 'id to CI 15s; medium, CI lis (id to £ I 13s; heavy shorn wethers, £ 1 10s to .LI Its Od; fat shorn hoggets, £1 8s Cd to £l. JOs; lighter shorn hoggets, £1 5s (id to £1 7s; woolly white-faced wether hoggets, £1 (is 9d to £ I Os Od; shorn ewe hoggets, to £ 1 Os Od; shorn owes with lambs at foot, If Is -'id, all counted. Every available pen was filled with all classes of pigs to make the yarding the heaviest for about a year. A big entry of baconers elicited spirited bidding and prices were firmer. Butter-milk pigs sold freely. Stores came forward in increased numbers and prices for stores and slips were considerably higher. Weaners wero cheaper except for choice lots, which maintained late figures. Good quality in-pig sows sold freely, but rougher sorts were not sought. Heavy prime baconers fetched £5 -Is to £5 JOs; light and medium, C-l C I 7s; light porkers and good stores, £3 (is to c:i I3s; other stores, £•_' JOs to £'. i ss; slips. C'2 5s to £2 15s; choice weaners, £2 to t2 ss; others, 15s to €1 10s; service boars, to 7'/gns; a sow and lilter. c 10: sows in pig. C 3 lOs lo £9 5s PRICES AT MORRINSVILLE (0.C.) MORRINSVILLE, Sunday Prices on a par with those ruling at the central yards were realised for fat sheep at the Morrinsville stock sale. Bidding for a medium entry of beef was spirited with values firm. For a good yarding of boner and store cowS values remained in advance of schedulo rates. Competition for the entry of Jersey heifers was not as free as at recent sales. A smaller yarding of dairy cattle was penned. Demand for good quality heifers, close to profit, was steady. A full yarding of all classes of pigs came forward, baconers remaining firm at recent quotations. Buttermilk pigs, store and wearier pigs were in very keen demand, and prices advanced. Choppers were again very keenly sought. Quotations: —Prime shorn wethers, :51s Od; medium, 29s fid; prime woolly hoggets, 32s to 33s 9d; medium, 30s to 31s; prime woolly ewes, 23s 3d; prime shorn ewes, 19s; medium. JOs; medium ewes and larnbs, 11s Od all counted. Medium fat P.A. cows. £lO 15s to £11; fat S.H. and Jersey-cross heifers. £lO •ts; fat young Jersey cows, £7 to £8 2s; heavy boner cows, £0 JOs to £7 2s (id; medium, £5 to £fi; store cows, £3 JOs to £-1 JOs; potter bulls, £5 to £9 15s; medium yearling Jersey heifers, £0 to £0 7s 6d; smaller, £5 10s to £5 15s; yearling bulls, to £7. Dairies: Good quality heifers, close to profit, £l2 10s to £l4 Jss; good quality heifers, in milk, £ll 10s to £l3; medium springers, £lO JOs to £J2; small and backward, £6 to £B. Heavy choppers. £4 to £5 17s; others. £2 4s to £3 JOs; heavy baconers. £5 to £5 JOs; medium, £4 10s to £4 JiiS; light, £4 to £4 8s; buttermilk pigs and large stores. £3 10s to £4 15s; smaller stores, £2 8s to £2 15s; slips, 32s to £2; weaners, 20s to 34s Od; sows, in farrow. £5 to £5 15s; service boars, £2 JOs to £3. OPOSSUM SKIN SALE At last week's sale of opossum skins at Dunedin there was a record offering of 270,000 skins, with a fair attendance of exporters, furriers and the local trade. The quality of tlie skins on the average was good, and the get-up fairly satisfactory. Demand was again restricted and values compared with September were as follows: —Blues and greys, Od to 'ls lower; other descriptions, on the average, is to is Cd lower. Seconds, thirds and damaged skins showed the greatest decline. COMPANY REGISTRATION The following private company has been registered in Auckland: — Trenwith Bros., Ltd. —Capital, £0125, in £1 shares Subscribers: J. Trenwith, 2840 shares; L. Trenw-ith and G. N. Gabman, 1320 each; W. Nicliolls and A. A. Trenwith, 880 each; F. M. Trenwith, 660. Objects, deal in footwear, etc. DIVIDEND DECLARED Placer Development (Vancouver). —Halfyearly dividend, 25 cents (Canadian) a share, less absentee tax of 15 per cent (unchanged); payable December 15; books close November 24 FOREIGN EXCHANGES Closing telegraphic rates fo» purchases and sales of foreign exchange Auckland on overseas centres on Saturday wero supplied by the Bank of New South Wales as follows: — November 11 T.T. T.T Buying Selling New York, dot. to £ . 3.2542 3.2050 Montreal, (10l to £ . . 3.0039 3.5290 India, pence to rupee .. 22 3-JO 22'4 Ceylon, pence to rupee . 22 3-JO 22% S.A., .CN.Z. £S.A. JOO 123 125/2/0 London, £N.Z £st. 100 J24/7/0 J25 Australia, £A. X'N.Z. JOO 100/10/• JOO Fiji, £F. .CN.Z. 100 .. 00 88/12/0 Chungking N.Z. pence to Chinese dollar . . Switzerland, fr. to £ . . 14.04 13.74 CALL AND DIVIDEND LIST Dividends— Due Bank Adelaide—final, 2Mi P-c. .. Nov. J 5 Burns-Philp—int., 5 p.c. . . .. Nov. 15 Nat. Pictures—'2% P.c. .. .. Nov. J5 Mosgiel "Wool—final, 5 p.c. .. Nov. 15 Union Oil—final, Od .. .. Nov. J7 Bycroft—int., 4 p.c. .. ~ Nov. 17 Le,viand-O'Brien —1/-, books Nov. 10 Nov. '22 Timaru Wool—s p.c. (hooks Nov. 15) Nov. 23 Bank N.S.W. —cirly 0/- . . Nov. 1 N.Z. Paper Mills—int.. 3 p.c. . Nov. -_'s Col. Sugar—int. Hi/- Nov 29 Swan Brewery—int., pref., 3 p.c.; ord., Od (books Nov. JO) . Nov. 29 Nat. Bank A'nsia—final, 2% p.c. (books Nov. 10) . . Nov. 29 Broken Hill Ply.—int., Od a share Nov. 29 Farmers' Trading—int., A and B pref., 5 3-5 p.c.; C pref.. 5 p.c. pa. Nov. 30 Claude Neon (N.Z.) —5 p.c. (books November !(>).. . . Nov. 30 Nat, Insce.—final, 5d (hooks Nov. JO) ■ • . . . . Nov. Bruce Wool —final, pref., 5 3-5 p.c. p.a.; ord., 0 p.c. and bonus, 2 p.c. . , . . . Nov, Sharland and Co. —final, 2'/ a p.c., bonus, 2 p.c. . . . . . . Nov Tui Brewery—final, 4V, p.c. . . Nov. D. I.C. —pref., half-year, 5 [i.e.; ord., 7 p.c. Nov Fletcher Illdgs.—int., pf. and ord., 0 p.c. p.a. (books Nov. 23) Dec. 1 Bank N.Z.— int., ord., 3 p.c.; D mort.. 7 1 2 p.c. p.a. (less taxes) Dec. 1 Pato —half-year, 15 cents (less Canadian tax 15 p.c.) . . Dec. I Kauri—final, 3 p.c. (books Nov. 23) Dec. 7 Waihi Invest. —2 p.c. (less U.K. tax, 8/"> in £) Dec. 8 N. Broken Hill —int., half-year, J/- Dec. 12 Taringamutu-Totara—final, V/j p.c. Dec. 14 A.C.l.—int., ord., 3>/ 4 p.c.; pf., 4% p.c. (books November J5) . . Dec. 15 Henry Jones —final, I/O (books Dec. 2) ... Dec. 18 Mt. Lyell—J/0 (books Nov. 17) . . Dec. 18 Broken Ilill S.—int., half-year, 1/- Dec. "19 E„ 8. and A Bank—final, 3VS p.c. (less U.K. lax) Dec. 11 Placer.- Half-yearly, 25 cents, Canadian (less absentee tax 15 p.c.); (books November 21): December 15.