THE WORLD OF COMMERCE

New Zealand Times, Volume LIV, Issue 12659, 20 January 1927, Page 8

THE WORLD OF COMMERCE

WELUNGTON STOCK EXCHANGE YESTERDAY'S QUOTATIONS. (3.15 p.m. Call.) Yesterday's closing quotations for premiums of investment and mining stocks, as advised by the Wellington Stock Exchange, are as under:—

Sales reported: Bank of Australasia, <£l4 3s (2); Bank of New Zealand, <£2 19s j N.Z. Guarantee Corp. (ord., 86), 10s 2d. SALES IN OTHEITcENTRES Per Press Association. CHRISTCHURCH, January 19. Sales.—Bank of New Zealand, 59s (two parcels); N.Z. Refrigerating (cont.), 6s 3s: Christchurch- Gas, 25s 9d. tTaies reported; , National Insurance, 745; Standard Insurance, 57s 6d; Christchurch Gas, 26s (two parcels); New Zealand Breweries, 52s 9d; "Wilson's Cement, 35s ljd, 355. Sales on 'Change; National Bank of New Zealand, £7 3sj Union Bank‘.of Australia, £ls 9s 6d; Nqw Zealand Breweries, 52s 6d (two parcels;; do., bonds, 24s' 6d, 24s 7d. AUCKLAND, January 19. Sales. —Bank of New South: Wales, £47; New Zealand Insurance, 37s 6fi; Auckland uas, 23s lOd. f . . Sales reported.—Christchurch 6d; N.Z. Government, 5£ per cent, <£lol. Sales.—War Loan (1936), 5£ per cent., <£101; Bank of Australasia, <£l4 2s Cd; Natipnal Insurance, 74s 6d; South British Insurance, 56s 9d; Christchurch Gas, 25s 6d; Colonial Sugar, <£ss 15s; New Waiotahi (cont.), Is 2d; Kawarau, 3s 8d; N Z.. Guarantee Corporation, 10s Is. DUNEDIN, January 19. Sales. Milburn Lime and Cement (rights), 2s 9d, 3s. Sales reported.—Bank of New Zealand, 595; Union Bank, £ls 6s 3d; Westport Coal, 35s 6d: Electrolytic Zinc (ord,), <£l 16s l0£d; British Tobacco, 52s 6d. Sales reported.—Auckland Amusement Parks (pref.), 26s <kl.

MEAT FOR BRITISH ARMY CONTRACT GOBi’TO AMERICA. Sydney "Sun" Cable. (Received January 19, 7.15 p.m.) LONDON, January 18. America has secured a War Office contract for 1,500,000 12-ounce tins of beef, which Australia secured in 1926. , BURNSIDEMARKET CATTLE AND LAMBS ADVANCE LOWER VALUES~FOR SHEEP AND PIGS. Per Press Association. DUNEDIN, January 19. At Burnside to-day sheep (excepting light prime wethers) and pigs cheapened. Lighter prime fat cattle, store cattle suitable for graziers, and lambs advanced. Sheep.—An entry of 2059 head. A good selection of practically all shorn sjieep. The proportion of heavy wethers was large ana many ewes of varied quality were in evidence. The sale opened with values on a par with last week's, but the tendency was towards an casing market and a slow finish. The decline in heavy sheep and ewes ranged from Is to 2s. Light prime wethers were unchanged. Extra heavy prime wethers made from 32s to 345; prime, 25s 8d to 26s 6d; extra prime ewes, 20s to 245; medium, 15s 6d to 17s 9d; light, 12s 6d to 13s 6d. Extra heavy wethers mad* 4d per pound, light 4£d and prime ewes 4d. Lambs. —A comparatively small penning of 453 head. The quality was from fair to good, 4ml butchers wanted each lot offered, though exporters secured a few. Rates advanced oy from Is to 2s. Extra good lambs made from 28s 6d to 2&s 6d; prime heavy, 26s to 27s 3d; medium, 23s to 255; prime heavy lamb made 8d and light Bkl to 9d per pound. Fat cattle;—A yarding of 219 head of from fair to good quality, inclusive of a fairly large supply of cows. The opening demand was firm at last, sale's best rates. Lighter prime qualities were several shillings dearer. Prime heavy bullocks made from ,£l2 10s to .£l4 ss; lighter, .£lO 15s to .£ll ss; heifers. ,£5 15s to JZ? 10s; cows, «£6 10s to <£B ss; prime ox beef made from 33s to 35s per 100 pounds, light 325, prime heifers 32s 6d„ light heifer and ctfws 20s to 255. Sitore cattle.—A yard in-7 of 222 head, made up of the usual mixed quality cows and an odd- pen of medium steers. The demand for all classes suitable for graziers showed some improvement. A pen of medium two-year-old bullocks made .£5 5s per head, and some yearlings realised «£2 19s each, cows sold at from L 3 to «£6 3s. Pigs.—A penning of 112 fats and 46 stores. TIIO entry of fats was of average size and small for stores. For tlio former, competition was dull, and for the latter not nearly *0 keen ns at last week's sale. Fat pigs cbrap6ned by about 5s and stores bv frrvm 3s to 5s per head.

ADDINGTJJNMARKET A SLOW SALE BEIEIF AND Ik/uTTON LOWER IN PRICE. Per Press Association. CHRISTCHURCH, January 19. To-day's sale was a slow one for all classes of meat, beef and mutton being lower in price. Store lambs sold briskly, and other classes of store sheep maintained values 1 Fat lambs.—34*oo yaTded, a fair-pro-portion for the West Coast. A firm sale at B|d to 9d for 36's and under, and 8d for 37-42’s. The bulk of the lambs averaged fro m2ss to 27s fid. Store sheep.—A good entry for this time of the year, including ewes from the Chathams, Marlborough and Nelson. Ewes with good mouths sold well, as did rape lambs. Aged ewes and lambs made from 12s 4d to 14s Id; good ewes and lambs 16s to 18s 8d; four-tooth three-quarterbred ewes 255; four, six, and eight-tooth three-quarterbred inferior ewes 21s to 245; four, six and eighttooth good ewes 25s to 28s 6d; failingmouth crossbred ewes 17s lOd; aged ewes 11s 9d; cull two-tooth crossbred ewes 20s fid; two-tootli Corriedale ewes 33s 3d; two-tooth halfbred ewes 27s 6d to 30s 3d; four and sis-tooth three-quarter-bred ewes 30s Id; four and six-tooth wethers 21s to 23s lid; cull two-tooth three-quarterbred wethers 14s 9d to lfis Bd; four-tooth halfbred wethers 20s 6d to 21s; good cull two-tooth three-quar-terbred wethers 14s 9d to 16s sd; fourtooth halfbred wethers 20s fid to 21s; good rape lambs 20s 6d to 22s 7cl; medium lambs 18s 2d to 19s 3d; halfbred Lambs 21s 3d; ewe lambs 23s 10d; cull Lambs 14s Id. Fat sheep.—An average entry but a sticky sale, vqlues being down by Is 6d all round, in addition to which there were passings. Extra prime wethers made up to 31s lOd; prime wethers 26b 9d to 30s; medium wethers 24s fid to 2fis fid; light wethers 22s fid to 24s 3d; extra prime ewes up to 265; prime ewes 21s to 23s 6d; medium ewes 176 *Qd to 20s 6d; light ewes 15s to 176; old ewes 12s fid to 14s 6d. j Fat cattle.—A heavy entry of 535 head and a very sluggish sale, values being down by an average for ordinary beef of up to 25s a head, and good stuff by 15s to 20s. Best steer beef made from 34s to 36s per 1001 b, medium class and heavy beef 31s to 33s 6d, best heifer 33s fid to 36s fid, ordinary cow and heifer beef 27s 6d to 31s, and rough beef down to 255. Prime heavy steers made up to £l6 7s 6d; prime medium-weight steers £l3 10s to £ls ‘ss; medium quality steers £ll to £l3; light steers £8 to £lO 15s; extra prime heifers up to £l2 17s fid; prime heifers £8 to £lO 10s; medium heifers £6 10s to £7 15s; light heifers £5 to £6 ss; extra prime cows up to £ll 17s 6d; prime cows £7 5s to £9 15s; medium cows £5 5s to £7; old cows £4 to £5. Vealers.—There was a fairly large entry of vealers, and good sorts solt well at late rates. Runners made up to £7 15s; good calves £5 to £6; medium calves £3 10s to £4 10s; 6mall and inferior calves 10s to 30s. Store cattle.—The entry of store cattle consisted mainly of cows. Forward steers and good fresh young cows sold well, but inferior sorts were not so easy to quit as of late. Good three and four-year-old'steers made up to £9 ss; good cows to £4 15s; medium cows £3 to £4; inferior cows 30s to £2 10s. Dairy cattle.—A good sale throughout, and prices advanced slightly on late rates. Best second, third and fourth calvere £8 to £l2; medium sorts £6 to £7 10s; inferior sorts £3 10s to £5 10s; extra good springing heifers up to £l3 10s; good sorts £7 to £lO 10s; others £4 10s tp £0 10s. Fat pigs.—The entry of fat pigs was large. There was a *fair demand, with prices on a par with last week. Extra heavy baconers were practically unsaleable. Choppers made from £3 to £5; light baconers £3 7s 6d to £3 17s 6d; heavy baconers £4 to £4 8s; extra heavy baconers up to £5 3s (average price per lb fid to Old); light porkers to 525; heavy porkers sfis to 63s fid (nveragb price per lb 7£d to 8d). Store pigs.—There was a large entry Qkptore pigs. The demand wa6 fair, and ir anything prices were a shade better than last week's. Small weaners made from 15s to 21s 6d; better sorts 22s to 265; small stores 27s to 335; medium 6tores 345: to 40s; large stores to 5Cs. LONDON WOOL SALES Messrs .Murray, Roberts and Co., Ltd., jare in receipt of the following wool martlet cablegram from their London agents, “Sales have opened firm; large attendance of buyers* competition keen; all sections operating freely. Compared with closing rates of last London sales, greasy merino, best descriptions, advanced 5 per cent. “Greasy and other descriptions, and scoured merino, par to 5 per cent, advance. “Crossbred greasy fine advanced 5 per cent. “Crossbred greasy medium and crossbred greasy coarse, market firm. “Scoured crossbred and slip© crossbred market shows no material change." Messrs Abraham and Williams, Ltd., and Wright, Stephenson- and Co., Ltd., advise having received a cablegram from their London house, reading as follows: “Wool sales opened; competition animated. Continental and Bradford buyers chief operators. Average selection. Greasy three-quarterbred, 48-50's clean scoured basis, greasy auction price Greasy fine crossbred, 46-48's, 15£d; greasy medium crossbred, 44-46’s, 14Jd; greasy crossbred, 40-44's, 13kl. Scoured' prices par to 5 per cent; higher. Australian merinos, prices par to 5 per cent, higher to 7£ per cent. Wool slipe very firm, but not dearer." The New Zealand Loan *and Mercantile Agency CompanjtfaLtd., have received the following cajpgram from their London house under "date 18th instant: “There was a good attendance at the opening of the sales to-day, competition by Home and Continental buyers being active, and prices as compared with the closo of the preceding series ruled par to 5 per cent, higher for merino; in sellers' favour for greasy and scoured crossbred; better market for crossbred slipe. The opening catalogues were representative." Messrs Dalgety and Co. ? Ltd., report having received the following cablegram from their London house, under date of the 18th instant: London wool sales opened. Competition animated; largo attendance, good selection; Belgian, French, and Gertnan buyers operating actively. Home trade buying any suitable lots. As compared* with closing rates of last scries, finer merino Id higher* merino, other descriptions par to Id higher; fin© crossbred, par to Id higher; medium and coarse crossbred, unchanged; slipe, unchanged; pieces, there is a good demand from tho Continent. Messrs Levin and Co., Ltd., havo received the following cable from their London agents, dated January 18th, 1927 The auctions opened her© to-day with a largo attendance of buyers, and keen competition. As compared with tho closing rates of last t-wlcs, we quote:— Greasy merino, best, Id per lb dearer; greasy merino, average, Id per lb clearer; medium halfbreds, 50 to 56’s. Id per lb do.arer; coarse halfbreds, 48 to 50*s. Ad per lb dearer; crossbreds, unchanged. Prices generally showed little change, although competition was active for filler grades, but for lower grades tho competition was irregular. Slipes were selling better. Tho Bank of New Zealand, produce department. has received the following advice form its London office, under date 18th inst. : —The sales have opened with strong competition, and large attendance of buyers. There is a good demand for all kinds of wool. Merinos and- fine crossbreds are one penny dearer. Medium and coarse crossbreds show no change. Tho Wairnrnpa Farmers’ Co-operafivo Association, Ltd., are in receipt of the following cablegram from their London agents, under date January 18th:—Wool sales opened to-day, and were well attended bv Home, Continental, and American buyers. Compart'd with closing rates of previous rale, Jnv crossbred sold at par to 5 per cent Medium and coarse crossbred shows no quotable change.

Buyers. Sellers. £ B. Government Loans— d. £ 8. d. Inscribed Stock (1939) — 96 15 0 Inscribed Stock (1038) — 96 15 0 Inscribed Stock — 101 5 0 Inscribed Stock (TTSoT — 101 5 0 War Bonds (1930) — £6 0 0 War (1933) 101 0 0 — War "“* v mds (1927) — Debentures— N.Z. Breweries (stocks 99 10 0 and bonds) — Petone-Lower Hutt 5J 1 4 9 p.c. (1927-52) — Napier Harbour Board, 95 10 0 51 p.c. (1913) — Inglewood Borough, 5 97 10 0 p.c. — 98 10 0 Makerua Drainage,.., — Banks— 101 0 0 Australasia 14 2 6 14 5 0 Comm, of Aust. (ord.) 1 13 0 National of N.Z 7 0 0 7 8 0 New Zealand — 2 19 3 Union of Australia.... 15 8 Financial— N.Z; Guarantee Carp. 0 *15 10 0 (ord., 8s) 0 10 N.Z. Guarantee Corp. 1 . 0 10 4 (pref.) 1 0 9 Wn. Trust Loan *6 10 0 — Wn. Dep. and Mort.... — Gas— 0 10 3 Wellington (ord.) 1 6 3 . — Wellington (pref.) ... 0 16 0 — Ashburton — Insurance — 5 0 0 National ; 3 13 6 3 14 6 New Zealand — Meat Preserving— N.Z. *1 17 9 (10s) - 0 7 0 Gear — Transport— 1 16 0 Huddart, Parker (ord.) 2 7 0 Huddart. Parker (pref.) 1 0 6 Union Steam (pref.) ... 1 0 Woollen— ’■ 0 Kniapoi (ord.) 0 9 Coal— 9 ““ “estport 1 14 Timber— 9 1 16 6 Leyland O’Brien ...... — 2 2 0 National . — Breweries— 0 15 6 Manning and Co — 1 0 2 ’'•'ew Zealand 2 ll 9 2 IS 0 TTaples and Co 2 0 0 Tui 1 15 Miscellaneous— British Tobacco (Aust.) 6 (ord.) — 2 13 0 Burns, Philp and Co. — Electrolytic Zinc 2 1 0 (ord.) *1 16 Electrolytic Zinc 0 (pref.) — n is 0 Howard, Smith 1 12 Milburn Lime and Ce6 — ment (rights) 0 2 2 National Electric — N.Z. Milk Products 0 18 0 (bonds) 11 0 1 2 6 Dominion Investments -1 1 0 — Scoullar and Co — 1 2 6 Sharland and Co. (ord.) — Wairarapa Far mers > 1 2 6 fpref.) — 0 16 0 ■"ilsorTe Cement 1 14 •Cum. div. 3 —