COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18484, 24 August 1934, Page 11

COMMERCIAL

WAIKATO MARKET BETTER GENERAL TONE A LACK OF SUPPLIES Spring conditions continue and. on the lowlands a't any rate strong pasture growth is visible.-in the Waikato.: Tho stock markets generally reflect a (hotter tone, but buying operations arc restricted by the lack of supplies, Evidence of this 'shortage has existed so long that graziers aro beginning to feel concern and it is.time that offerings to -meet the spring demand .put in an appearance. I't- seems probable that the season will be one of prolific growth and this will take handling, but there is in addition a considerable area that has been converted from dairying, so that grazing requirements may (be expected greatly to exceed the normal. The beef market appears sound and secure for some months ahead. The Waikato shortage has not, been so acute for years, and any cessation of southern importations, which have so far relieved the situation, must be followed by costly consequences to the purchasing section. Quito the opposite appears to be tho position in the mutton branch. Hero the offerings are greater than can lie absorbed, but no doubt a beef .shortage will be balanced by increased mutton consumption. Wether values have varied little since March and have ill repaid the cost of winter grazing. •It, is expected that; export demand for lambs '(as .such) will terminate shortly, it being impossible to grade thorn longer under this classification. This branch has been well, supported 'throughout the season. There can be no doubt about the demand in the store cattle section, but few opportunities for its display are qffcrpd. At R'ahgir'iri this week a suitable chance was given and attracted a largo assemblage. Gotapctb

tion was keen and elevated values above any preepdiffg sale. 'Steers and forward-condition cows shared the honors equally, hut lower conditioned classes also had ninny .sbekers. Current values are: —Forward bullocks, £4, 10s to £5 ,10s; store bullocks, £4 to £5; three-year steers (good quality), £4 .to £4 15s; two-year. £3 10s 'to £4; yearling steers, £2 5s tb £3; forward cows, £2 to £2 15s; store cows, 30s to 37s (id; two-year empty heifers (Jersey), 20s to 32s 6d; yearling heifers, best, to £2 os; medium, 25s to 32s fid* small, from 1.2 s Od.

WOOL ODDMENT SALE BRISK BIDDING AT NAPIER (Per Press Association.) NAPIER, this day. A winter sale of wool crutchings and oddments was held in Napier yesterday, an offering of 675 bale? being presented, against 1570 bales at the same sale last I year. I Bidding was brisk up to the Wellingj ton sale rates, which were about on a par with the level reached last August, j Japan did not appear to be as free a bidder as usual, bidding being move I pronounced from Bradford, Canada, and Australia, and the Dominion mills. SYDNEY STOCK EXCHANGE STEADY TONE IN MARKET .SYDNEY, Ang. 22. On the Sydney Stork Exchange today price variations in the miscellaneous list were mostly small, indicating a steady tone in the market. Commonwealth bonds made a further re- , coven-, hut sellers wore reserved, i Sales: Commercial 'fifth k of Sydney, £l7 i)s.; Union Bank, £9 7s fid; Queensland National Bank, £5; United Insurance, £lO 10s. Bpriej. % od'; British TohaepO. 37s fid; AppTiiide Steam, 2GS 4£d| T66'ths, j4ssj Tqbgoys, 27s 3d; Australian Glass, ifis. ■

Dunlop Perdriau, 10s Id; Goldsbrough, Mort, 30s; Wilcox Mofflin, 12s 9d; Standard, Cement, 19s; Meggitts, 19s 9d; John’McGrath, 29s Gil. Mount Morgan, 2(55; Mount Lyoll, 20s 3d; Broken Hill Proprietary, 48s 3; South Broken Hill, 78s; Bawang Tin, 9s 3d; Placer Development, £2B 10s; Euratha Gold, 9s Bd. Morning sales included: —Commonwealth bonds, 4 per cent, 1938, £lO4 7s (id; 1909, £IOB 10s; 19(51, £IOB Ids; Union Bank, £9 7s (id; Associated News, 23s lid; British Tobacco, 37s Oil; Broken Hill" Proprietary, 48s 3d. MELBOURNE, Aug. 22. Bales on the ’Melbourne Stock Exchange to-day included: —Commercial Bank, of Australia, 10s; British Tobacco) 37s <5(1; Goldsbrough, Mort, 30 s;'Taranaki Oil. 2s.

BRISBANE WOOL SALES BRISBANE, August 23. At the wool sales, Bradford and Japan wero keen bidders. Seventeen pence- was paid for greasy and 27]d for scoured. VICTORIAN PRODUCE PRICES ADELAIDE', August 23. Latest quotations are: Wheat, growers’ lots, 3s 14(1; Hour, bakers’ t lots, £9 ss; bran, £5 ss; pollard, £5; oats, Algerian, 2s 3d; barley, 2s 7d. LONDON STOCK EXCHANGE LONDON, Aug. 21. On the Stock Exchange to-day the markets were quiet, with British funds and German, and French bonds steady. War Loan 3] per cent, was ([noted at £lO4 8s 9d., Gold mines yero. rather Weak. ’ •'•■' l v '' ' ' ADDISON’S FLAT RETURN (Per Press Association.) WESTPORT, this dav,_ Addison’s Plat gold'mining return

for the fortnight ended August IS, was IGoz. of gold for 3(5 shifts'. The manager reports that he has been working oil poorer ground, making a fresh cut up on. to a lead from the elevator, ami that the returns from now on should improve, N. AUCKLAND FARMERS’ CO-OP. A net profit of £4534 was earned by the North Auckland Farmers’ Co-opera-tive Association Limited in the year ended, June 30, compared with a profit of £l4B in the previous year, and a loss of £2354 in 1932. With £285 brought into tlie accounts there is £4Bl9available, and out of this provision has to be made for income tax. The directors recommend payment of a dividend at the rate of 5 per cent, oil the preference shaves for the year ended June 30, the balance to be carried forward. Preference dividends of 6 per cent, were; paid up to 1930, but no distribution has been made since. The losses’ accumulated since 1920-21 were eliminated by a reduction of the ordinary capital in 1925. GREY AND MENZIES, LTD. Increased profits are shown by Grey and Menzies, Limited, in their accounts for the year ended June 30. Net earnings for" the year amount to £557, as against £224 in the preceding year, and a loss of £1230 in, 1932. The profit, added to the amount brought forward from last year, provides a balance of £578. From this the directors recommend payment of the 1932 preference dividend, absorbing £350, leaving a balance of £528 to be carried forward. STORTFORD LODGE SALE With an entry of 303 head and opening strongly at' rates which showed ail improvement on those ruling last week, heifers and cows sold particularly well m the early part ,of Wednesday’s* stock sale at Stortford Lodge yards, but fell back to last week’s rates, which were maintained to tne conclusion of the sale.

Bullocks met a similar market to lasf week with a steady demand; medium.***! to prime, £7 5s to £8 Is; others from £5 fc-s. Cows, medium to prime, made £4 18s 6d to £5 12s 6d; others, from *3 2s 6d: heifers, medium to prime. £i>;. cs to £7 2s; others, from £3 185.6 d An entry of 520 store, cattle met W.itn; ...; a disappointing reception. Empty cows sold to £2 16s; heifers, to £2; iveaners, i* to £2 15ssteers, to £4 10s; buliocks,;--.v, to £5 ss. . Two thousand store sheep, chiefly boggets, were offered, selling at lute lutes, with good demand; wether hoggets, to < 21s 8d : ewe hoggets, to 24s 4d. Fat sheep numbered 450 and sold at rates on par to improved on last week according to quality. Ewes, medium - t®prime. 23s 6d to 27s 3d: others, from 16s 6d; wethers, medium to prime, 25s 9d to 30s 3d ; others, from 24s 6d ; lambs, ‘ 16s 7d to 245.