COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17958, 9 December 1932, Page 2

COMMERCIAL

SYDNEY STOCK EXCHANGE

MARKET A LITTLE BRIGHTER

(Klee. Tei. Copyright—UnHeArross^Assn.) On the Stock Exchange to-day, the investment market was a. littlo brighter with slight rallies in Commonwealth bonds. , „ r . Sales: Bank of New South Hales, £SO 17s 6(1; Burns, Philp, 48s 9d; Henry Jones, 375; Tooth’s, 34s 9d; Dunlop-Perdriau, 16s Gordon and (,'otch, 31s 6(1; Goldsbrough, Mort, 24s 3d; Australian Gas, A, £7; Mount Lvell, 22s 3d. Commonwealth bonds, 4 per cent., 1938, £lO2 16s 3d; 1941, £lOl 6s 3d; 1944. £lOl 7s 6d; 1947, £lOl 12s 6d ; .1950. £lOl 15s; . 1953, £lO2 ss: 1955, £lO2 7s 6d ; 1957, £101; 1959, £lOl 8s 9d: 1961, £lOl 15s. Morning sales: Commonwealth bonds, 4 per cent., 1938, £lO2 12s 6d; 1041, £lOl 3s 9d; 1944, £lOl 3s 9d; 1947, £lOl 7s 6d: 1950. £lOl 12-s 6d; 1955. £lO2 7s 6d: 1951, £lOl 10sBalik of New South Wales, £3O 17s 6d; Broken Hill Proprietary, 25s 6d; Dunlop-Por-driau, 16s 71 d. * MELBOURNE, Dec. 7. Sales: Dunlop -Perdriau, 16s 8d : Electrolvtic Zinc. pref., 28s; Nortli Broken Hilf, 71s 6d. STORE SHEEP OUTLET CONDITIONS IN WAIKATO Although a number of sales of store sheep have been made to Hawke’s Bay recently it would appear that the Waikato; will be called u2>oii to absorb most mof the surplus from the Gisborne district this «rniuier. The season has been a good one for Waikato graziers, and store sheep offerings at present are small. ■Of the prospects, ' the Auckland Herald dares: —“Efforts are now being mfltdo by station owners to interest Ke we buyers in their surplus drafts, but •so far. without sir. cess. Advice from the Poverty Bay roast set the vendoiV valuation, for five-year ewes at 7s. { There is not much likelihood of eagerness being shewn to buy early, and many will pro.fer to take a chance on the open market later. On the basis of 7s as a landed cost forward .business might be possible, and in the face of export conditions it would seem unreasonable- to expect greater generosity at this end, “V- nos : n this branch remain steady and lambs arc .being, handled in fair numbers.' With a larger proSr .portion than usual of heavy-weights] growers have more seriously suffered through the unpopular grading system. Under it a 361 b. lamb is worth 12s 9d, a 371 b. lamb only 11s 7d, increasing until at 401 b. he approaches the same level as the 3C-pounder.” This week’s saloyard prices arc: — Store wethers, 8s to 9s; store ewes, 3s to 4s; lambs, 5s to os 9d: ewes, with lambs at foot, best, to 6s (all counted); inferior, from 4s to os. Store cattle offerings have been very small lately. Values are:—Threeyear steers (local bred), £ 1 15s to £2 10s; two-year steeris, £1 5s to £1 12s (id; vearlings', 15s to 20s; forward young cows, £1 5s to £1 12s fid; stores, £1 to £1 os: aged and low condition, 12s to 16s; Polled Angus yearling steers. £1 to £1 Bs. THE PRICE OF GOLD ■ (Received December 9, 11 a.m.) LONDON, Dec... S. The price of gold is quoted to-day at £6 6s Bd. ■ ■ ■ LONDON WOOL SALES ■ (Received December 9, 11 a.m. J LONDON, Dec. 8. At tho wool sales, 6273 bales were offered, including 3306 from New Zealand, and about 4755 were sold, i here j was - ' r ood competition at late rates. . New Zealand sales: Greasy cross- ( bred, Strathallan, Bd, 6UI; slipc halfbred lambs, Parcora, 12Ad,. 12-id; scoured combings, Olamatapaio, lid. | 16d, Tho sales will close on Cupscjay. At Bradford, fine tops are firm, but medium crossbreds show an easier tendency. Quotations are unchanged. * . ALEXANDER MINES DIVIDEND The sixth dividend of Is per share, which represents a distribution of £37co to shareholders firee of income tax, j which has been declared by the. Alexander Mines Limited (Reefton), is payable on Wednesday, December 21. This makes a total distribution of six dividends of Is each declared during the ' current year, the first having been declared in January, and represents £22,500 distributed to shareholders free, of income tax. The capital of the company comprises 29,000 full-paid shares of £1 each, and 46,00) paid to 13s 6d each, or approximately £60,000. N.Z. MEAT IN LONDON The New Zealand Meat Producers Board lias been advised by its London manager that the following retail prices v re being quoted for New Zealand lamb and mutton retailed in London Uuiing November, 1932. These prices represent a fair average of the prices quoted by tho better class shops in London for the best quality Now Zealand lamb and mutton. New Zealand lamb.—Legs, 9d per lb.; shoulders, 8d; loins, 7d; necks, 2d; breasts, 2d; 'forequarters, 6d; hind quarters, BJ,d. New Zealand mutton, wethers.—Legs, 7d per lb.; shoulders, 6d; loins, 6d; necks. 3d; breasts, 3d. / ■ . ...... ' “ARTIFICIAL WOOL” A London trade report says the question of the nomenclature of “artificial wool” was discussed at the recent International Wool Conference at Amsterdam. Jv number of wool textile manufacturers object to this name, not so much because “artificial wool,” a type of spun rayon yarn, competes with woollen fabrics now—actually the production of “artificial wool” is very small—but because it may do so in the future. In the course of the discussions it was pointed out that if silk manufacturers had taken a united stand against the words “artificial silk” in time they might not now be up against so many cases of misdescription. HASTINGS STOCK. SALE Beef prices showed a sharp advance at the Hastings stock sale on Wednesday, but fat sheep rates fell. • There was only a small yarding of ■cattle, both fat and stores, and this resulted in a very appreciable rise, amounting to 10s to 15s per head all!

round upon recent rates. Prices for prime light-weight ox beef were on a partity with export prices—namely, 14s per hundred—heavy-weight realising 12s per hundred. Prime heifer beef, sold up to 13s (id per hundred. Competition for cow beef was erratic, the price varying from 2s to 3s per hundred.

There was an average yarding of 2000 fat sheep, with a much larger entry of lambs than usual. The quality of the latter, on the whole, was not equal to previous sales. Owing to increased numbers prices were easier than last week for all classes of lambs. Ewes also were in excess of usual numbers, and prices showed a drop of Is to Ts (id per head on these in comparison with last week’s rates. Wethers were not in big supply, and prices were fairly well maintained.

'There was a record small yanling in the store sheep section; 50 store ewes passed‘at 2s 3d; 56 5-year shorn ewes and 36 lambs, all counted,, 3s 4d; 82 2- tooth wethers, 9s 6(1; i»7 2-tooth wethers, 8s lOd. •The following is the range of prices: Extra prime bullocks, £6 to £7 2s (id; prime bullocks, £5 5s to (id; light fat bullocks, £4 10s to £5 2s 6<l; fat cows, £2 to £3 10s; fat heifers, £3 to £4 17s fid; venders, 12s (Vl to 32s fid: 3-yr. I*.A. steers, £3 0s; 2-yr. P.A. steers, £2 Bs. Sheep: Fat ewes, 4s to (is; fat wethers, 10s to lls fid; fat lambs, 9s t.o 11s 10(1; woolly ewes with lambs at foot (all. counted), 3s 4d; forward wethers, 9s. BUTTER PRICES IMPROVE The butter market has ceased receding after the recent fall that followed the sharp rise of nearly a fortnight ago, and a gain of 2s per cwt. is recorded in quotations announced to-day from the lowest level reached a few days ago. The cheese market, which remained fairly firm during the butter debacle, is now declining gradually and is reported to be in a weak slate: Joseph Nathan and Company report to-day as follows:—'“After the decline to the level of 82s to 83s. the butter market has improved to 84s to 85s. The cheese market is weak, with while sidling at 58s and colored at 605.”

That there is still plenty of money available for investment in attractive gilt-edged security is indicated ‘by (lie success that has so far 'been met with by the Lyttelton Harbor Board in connection with its redemption loan, Reporting at a meeting of tho board, the chairman, Mr W. T. Lester, said that although only two weeks lead elapsed since the board’s £136,000 redemption loan at 5$ per cent, for 10 yeiars was placed on the market, those who held debentures in that part of a £99,800 maturing loan, which, wins floated in New Zealand, had taken up debentures in the new loan to the amount of £34,350. and now investors from all over the Dominion had taken u'p debentures to the value of £29,100, a. total of £63,450. .