COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18331, 24 February 1934, Page 2

COMMERCIAL

WAIKATO STOCK MASKGT big demand por cattle The Waikato store stock demand has been transferred from breeding ewes to store cattle. The store sheep market has not collapsed, and, in fact, in some centres dur-, iiign the week it seemed a? though a revival had taken place, bn't the demand is for good ewes most suitable for breeding, and there is a dearth of this tyjje. When consideration is given to the class of sheep marketed, it would'be seen.that ruling values are not greatly below the earlier standards. Although the current beef export schedule is but 18s, paddock purchases have recently been made on an estimated basis of 20s. This has naturally created great optimism and fattening cattle are eagerly being sought in expectation ofmore generous developments*, It is commonly believed that ox beef is in short supply, and certainly the appearance of the Central Yards this week, when only one truck of prime oxen were penned, lent color to the supposition. There is a fear of a shortage of store cattle, and values are:—Forward steers, £5 to £6; stores, £4 10s to £5 ss; 2£year steers, £5 15s to £4 10s r IJ-year steers, £2 10s to £5 ss; forward heifers, £3 5s to £3 15s; forward cows, £2 5s to £2 15s; store cows, £1 6s to £2; Jersey weaner heifers, to 275; medium, 12s 6d to 17s 6d. Store sheep were selling this week as follows:—Forward wethers, 21s to “235; forward ewes, 11s to 13s; stores, 7s to' 9s; two-tooth ewes, to 25s;.small; 20s. to 225: four-yeqr ewes, 19s to 21s; five-year ewes, 17s to 19s; six-year, 14s to 16s 6d; sound mouth, 11s to i3s; forward lambs, 13s 6d to 15s 3d; good Stores, 12s 6d to 13s 9d; medium, 10s 6d to i2s; small, from 7s 6d to 9s 6d. I ,•• • T V')■ i» WHY WOOL RECOVERED ABSENCE OP STOCKS LONDON’, 'Jan. TO. In the course of liis speech mado yesterday to shareholders, of the Australian Pastoral Company, the chairman, the Hon. Walter D. Gibbs, sought to answer the question why wool had shown so great a recovery by comparison with the much moro irioderate recovery that had taken place in the value of other commodities. He put forward as the' nlost potent single factor in the case, the absence of accumulated stocks. Meeting the market had been a very painful process for the last four years, but the wool growers had gone. bn selling r ‘at‘ persistently falling prices iti tlic nope’ that by refusing to accumulate iltocks they would expedite the recovery in value that, was now iii progress. While admitting; the increased, difficulties that surrounded attempts ■at prophecy as a consequence of currency, management arid cilrrehCx.fexpe'ripib'ftt.s and of the many abnormal hindrances to trade throughout 'the world ' Mr - .' Gibbs cited three factors, nn addition to absence .of accumulated ; stocks, in favor of the maintenance and increase of wool , prices. ’ •In the first place wool values "toklny were not. excessive, they were not even now up to.tehir 1929 levol,.which itself was only about- half the 1924 level. Secondly, the production of wool in Australia, New Zealand, anil South Africa during the year now current Was expected' to be 12 por cent., say 200,000,0001 b:, lesk than that of the year 1932-33, and it was esti mated that only a very small part of this decrease would be made good by increases elsewhere. And, thirdly, the United States imported 144,000,000 lb. of wool during the first 10 months of 1933, compared with only 46,000,000 lb. during the same period of 1932.

The chairman of tho Australian Pastoral .Company alluded with regret to the revival in Australia of a proposal to fix a minimum prieo for wool, which, if adopted, he rightly foresees might go frir to undo the good that has been accomplished by the poliey of allowing the market 46 find its own level. There was, he observed, a certain similarity fin tho position of the Australian nation and tho wool groivers of the world; in that both saw that troublous times confronted them and took their medicine, and both in consequence appeared to have moved or to be moving, if not towards prosperity, at least back to solvency sooner than most. WHIaKATANE CATTLE VALUES The New Zealand Loan and Mercantile Agency Company reports having held its monthly stock sale at the Whakatane saleyards on Thursday, when a medium yarding of cattle was offered to a frill bench of buyers. Bidding was spirited and prices were on a par with late rates. Prime fat cows and heifers made £3 10s to £4 12s; lighter fat cows, £2 10s to £3 2s; store cows, to 30s. ; •. COMPANIES REGISTERED Recent company registrations include the following!:— Smellie and Sons, Limited. Registered as a private company January 22. Office: 61 Peel street, Gisborne. Capital: £IOOO, in 1000 shares of £1 each. Subscribers: T. Smellie 500, J. Smellie 250, D. B. Smellie 250. Objects: Butchers. Piesse ,W. V.) and Company, Limited. Registered as a private, company February 13. Office; 6 Bates’ Buildings, Lowe street, Gisborne. Capital: _£loo, in 100 shares of £1 each. Subscribers W. V. Piesse 10, C. O. Piesse 90. Objects: Mercantile brokers, manufacturers agents and insurance agents. LONDON MARKETS ' The Bank of New Zealand is in receipt of the following advice from London at the,close of business this, week: “Wethers ;and owes: The market: is short of supplies and prices are nominal. Lambs: Trade is slow, but’ is likely to improve shortly. Quotations: Wethers,! light 6-Jkl to 6d, heavy 4Jd to sgd; ewes, 3gd to 4§d; lambs, twos 6gd to 6Jd, eights 6gd to 6Jd, fours 6§d to 6|d, \ seconds 6gd to 6fd. | “London wool sales.—lt is generally expected that at the March sales merino will decline Id to lsd, fine crossbred about and medium and coarse cup**-. brads fully Id,” I I