COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18254, 24 November 1933, Page 4

COMMERCIAL

SYDNEY STOCK EXCHANGE MARKET QUIETER SYDNEY, Nov. 22. On tlio Sydney Stock Exchange to-day values displayed a tendency to weaken, hut the falls about equalled the rises. Commonwealth loans showed little alteration. Sales: Dank of New South Wales, £32 ss; English, Scottish and Australian Bank, £5 12s; National Bank. £5 paid, £6 10s; Commercial Bank of Sydney, £l7 7s; Colonial Sugar, £6l; Mercantile Mutual Insurance, 20s 101 d : Australian Provincial Assurance, 12s 3d : Associated News, 20s 10J>d ; ditto, pref., 20s 3d; Australian Glass, 48s 6d ; Goldshrougli Mort. 30s 4ld ; Tooths, 43s 3d ; Tnoheys. 24s 3d ; Dunlop Perdriau. 19s 3d ; ditto, prof., 34s 9d ; British Tobacco, 38s: Carlton Brewery, 43s 6d; Anthony Hordern. 13s 6d ; ditto, pref., 22s 6d ; Btandai ' Cement, 16s 7id ; Farmers, 18s; David Jones. 35s 9d; Drug Houses of Australia, 17s 10JJ1; Commonwealth Wool. 13s ljci; Henry Jones, 34s ; Electrolytic Zinc, 26s 9d ; Victoria, Nyanza, 17s : Mt. Morgan. 55s 61: Kuala Kampar, 12s 4,1; Bulolo Gold, £5 12s; Bulolo Deposits, 2s 4£l Morning sales included Commonwealth Bonds. 4 per cent., 1938, £lO4 17s 6d; 1959. £105; Bank of New South Wales, £32 2s 6d ; Tooths, 43s 9d ; Associated News, 20s 10£1; ditto, pref.. 20s 3d; Broken Hill Proprietary. 39s 71,(1 : Golds broodi Mort, 30s 3d ; Wilcox ATofflin 10s 6d. MELBOURNE, Nov. 22 ; Bales mi the Melbourne, Stock Exchange to-day included: Commercial Bank of Australia, 17s 3d ; ditto, pref., £9 Is; Gordon and Gotch, 38s 6d ; Mt. T/voll. 22s 41d ; North Broken Hill. 85s 6d. HASTINGS STOCK SALE WOOL RISE AFFECTS SHEEP Store sheep were in keen demand at the Hastings stock sale on Wednesday. One reason given for the strong tone of the market is the reaction to tlie sharp rise in the wool market in London, blit other opinion was inclined to the belief that the strong tone was due to what might be termed a “grass demand.” Fat sheep prices were steady. The official report of the Associated Auctioneers’ Association states; A small yarding of both cattle and sheep came forward to a good attendance of buyers. Fat cattle sold at prices on a par with last week, sales showing a dulling tendency towards the latter part of the sale. Store cattle sold at recent rates. An exceptionally good line of f. and f. P.A. bullocks made £5 4s. Fat sheep met good competition. Store sheep were in keen demand. The following is a range of prices: Cattle. —Fat bullocks’, £5 15s to £8 ss, prime heavy; fat cows, £3 15s to £5 ss, prime heavy; fat heifers, £4, light, to £5 ss, well finished: f. and f. bullocks, £5 4s; 3-yr steel’s, £3 10s to £4; 2-yr do., £3 to £3 10s; cows and calves, £2 10s to £3; 2-yr heifers, £2 15s to £3 4s.

Sheep.—Fat ewes, woolly, 15s to 17s 7d; shorn, 10s to 14s lOd; fat, 19s to 20s 3d; fat lambs, 15s to 19s (Id; fat wethers, woolly, 21s to 255; shorn, and f. 4-th wethers, 17s to 19s 6d: do., 2th. wethers, 15s to lGs 6d; small 2-th ewes, His; fi-tli ewes, shorn, 10s to 18s 3d; 5-yr do., 12s Id; ewe hoggets, woolly, 20s to 245; wether do., 17s to 20s Gd. WAIKATO STOCK MARKET VALUES STILL HARDENING A hardening in cattle and sheep values is taking place in the Waikato, although it is difficult to assign any i good reason for this. I Much larger store cattle offerings' could bo absorbed than are at present i available. Good fattening or breeding lines are rarely to be seen, but when they do appear there is no question about the cordiality of the reception. The only entry of consequence observed during the week was from To Akau district, consisting of yearling! and two-year lied Polled heifers (empty). Strong competition was, secured and a value of £3 10s obtained for the first draft. Yearlings sold at about £3, with £2 18s for Shorthorn steers of the same age. In the store sheep section also great business would be possible were the means at hand to encourage it. Very bare markets arc faced in all localities and there is nothing to indicate an increase until tlie New Year sales open. Small lots of hoggets appear occasionally and are always popular. With the decline in lamb values, ewes with lambs at foot are rather less In favor, and certainly it is not to be wondered at, as even a continuance of the opening schedule could hardly ( have made some of the purchases profitable. Current values are: Forward wethers, 19s to 21s; hoggets, 17s to 19s; aged ewes with lambs, best, to' 15s, all counted; inferior, 9s to 10s 6d. Young ewes with lambs are seldom met with. MINING NEWS Sailor's Gully Sluicing Company at Waituhuna Gully (Lawrence) cleaned up a paddock (or a return of 629 ounces of gold. A dividend of 3s a share has been declared, and a substantial sum placed to reserve. This is the largest return won by the company. The company, which was registered in 1896. has a nominal capital of £B4OO. The forthcoming distribution to .shareholders is the seventieth dividend paid by the company. The previous dividend was paid at the end of 1932 and amounted to Is a share. I The Mataki Gold Dredging Company, Limited (Murchison) reports a return of 31oz. for the last week. The manager reports that I lie dredge has been making satisfactory progress. The ground continues much the same, being very hard in places. The dredge passed No. 32 bore on November 13, the wash looking good on that side. It also looks good on the west side toward the river. The centre of the cut has a heavy overburden of .sand, which will retard the yardage, as it is necessary to take half-buckets hero so as not to silt the tables. Bullion returns posted at the 'I liames School of Mines show that the bullion won in the district for October was valued at £156 19s Bd. In addition to this, private criishings have yielded over £SO. Promising returns from No. 2 area between Tararii and Burn inland

have come to hand this month. The new mad recently cut has disclosed several reel's, which are being actively prospected. Tt is apparent that the credit of the Auckland City Council stands high in the opinion of investors. On a recent morning the city treasury disposed of £IO,OOO worth of debentures in the Tainaki drainage loan in less than a quarter of an hour. The rate of interest on tliis loan is 4 per cent, and a large proportion of those who made application belonged to the class known as small investors. An indication of what. Hie recent increases in tlie prices for wool and lambs mean to sheep farmers is gained from the returns received by Mr. J. W. Anderson, of Tlrau, Hauraki Plains. A shipment of lambs realised £ 1 7s 3d per head on the hooks a few days ago. The return for a similar shipment lasi year was only ils Oil. Tim same kind of wool sold by Mr. Anderson last year for 3.1(1 per pound realised well over Sd per pound this yea r.