COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18582, 17 December 1934, Page 11

COMMERCIAL

IRREGULAR MARKET SYDNEY STOCK EXCHANGE SYDNEY, Dec. 14. Clearing up transactions in anticipation of the holidays produced irregularity on the stock exchange to-day. Giltedged and banking and other classified shares quoted were mostly lower. Sales: Commercial Bank of Sydney. £l7 10s; E.S. and A. Bank, £5 3s; Union Bank, £8 19s; Bank of Australasia, £11: United Insurance, £ll 15s; Colonial Sugar, £42 15s; Associated News, 25s 3d; Burns Philp, 625; Australian Gas, A, £8 0s 6d; British Tobacco, 41s 3d; Australian Class, 58s 9d.

Tooths, £os 6d; Tooheys, 29s 3d; Carlton Brewery, 53s 9d; * Winchcombo Carson, 295; Wilcox Mofflin, 9s 9d; Millaquin Sugar, 37s 6d; Anthony Hovdern, 18s• ditto, pref., 25s 3d; Amalgamated Textiles, 10s 3d; Hume Pipe, 15s; John McGrath, 37s 3d.

Mt. Morgan, 35s 6d; Broken Hill Pro prietary, 52s 3d; South Broken Hill, 80s 9<l; Mt, Lyell, 17s 9d; Rawang Tin, Bs.

Morning sales included: Commonwealth Bonds, 4 per cent., 1941, £lO6 12s 6d; 1944, £lO6 17s od; 1947, £109; 1961, £llO ss; MS. and A. Bank, £5 3s; Union Bank, £8 19s; Tooths, 60s 6d; Anthony Hordern, 18s 4£d"; ditto, pref., 25s 3d; Associated News, 25s 4^d; Australian, Class, 57s 6d; Broken Hill Proprietary, 52s 3d; British Tobacco. 41s 3d; Dunlop Perdrian. 19s 104<1.

MELBOURNE, Dec

Sales on the Melbourne Stock Exchange to-day included: Commercial Bank of Australia. 16s 6d; National Bank, £5 paid, £6 3s; Goldsbrough Morfc, 30s Herald and Times, 57s 9d ; Electrolytic Zinc, 22s 6d.

WAIKATO STOCK .MARKETS

PIRM TONE CONTINUES : A:firm tone continues in the stock markets in the Waikato. A welcome feature at the Frankton sale this Week was the entry of exporters as competitors for ''chilling" cattle. A decline in the market made this possible, some nice lots being secured at an estimated value of from 21s to 225. On this basis it is understood operations will bo continued, but it seems unlikely that the • saleyards will be the medium of negotiations. The storo -cattle section has been the scene of much animation this season and still maintains, in spite, of the fears of quota restriction, a state of considerable buoyancy. A special sale of station-bred cattle at Frankton this week, although somewhat marred by a downpour of rain, was attended with fairljr good results. Competition was certainly not given indiscriminately as at earlier sales, but for lots that offered a reasonable hope of'fattening before •winter a fairly generous response was accorded. A very good line of Polled Angus and Hereford heifers proved the most attractive feature, and although public valuation of the Herefords did not reach the vendors' estimate, the Polled Angus portion was easily disposed of, values ranging from £4 Is to £4 16s. Not many bullocks.were in the uutry, nor were they advanced enough in condition to make them popular. A fair numbor- of two-yonr steers were included, and at slightly lower values were cleared.' Yearling cattle were not in keen demand and values were distinctly lower, especially for those of inferior breed. The range of values is as follows:—Store steers, £4 15s to £5 10s; two-year steers, £4 to £4 ss; inferior,'£3 to £3 10s; 2|-ycar stationbred heifers, £4 to £4 16s; yearling to 18-month heifers, £2 to £2 10s; in-ferior-bred, from 355; Polled Angus cow's with calves (medium quality), £3 5s to £4; Hereford heifeTs in, calf (inferior), to £2 15s. The'store sheep market shows little alteration., Yardings are small and seldom display anything of an attractive nature. The opening of the lamb fairs will be welcomed, as tho demand again promises to be strong, and will, it is hoped, prove equally profitable.- Values i\r& similar to those recently quoted.

EAST COAST CATTLE

SALE IN WAIKATO A yarding oMOOOliead of East Coast cattle was offered to a full bench of buyers at Morrinsville on Friday. The consignment included several lines of well-bred station cattle. The first lot offered consisted of excellent quality Biaick Polled bullocks in very forward condition and they realised up to £7 18s a head. A choice line of Polled Angus two-year-old maiden heifers comprised the best quality cattle penned in the Waikato for some years. There was keen competition, and excellent prices were realised. A large entry of prime ox also met with a keen demand.

THE MEAT MARKET SMITHFIELD QUOTATIONS . LONDON, Bee. 14. Latest quotations on the Bmithfield meat, market are Sis follows: — New Zealand sheep.— Canterbury and North Island selected crossbred wethers and maiden ewes, 48 to 561 b., 4|d; 57 to 641 b., -1 j*d; 65 to 721 b., 4gd; North Island 48 to 561 b., 4Jdj 57 to Glib., 4|d; 65 to 721 b., 43d; ewes, under 481 b., 3fd; 48 to 641 b., 3§d; 65 to 721 b., 3|d.

Australian sheep:—First quality, crossbred and/or merino wethers, 40 to ttr>lb., 3d; second quality, do., 30 to 551 b.," 4cl. ... Argentine sheep:—First quality, crossbred weathers, 48 to 641 b. 4}d; 65 to 721 b., 4d. New Zealand lambs:— Canterbury, 37 to 421 b., and 43 to 5011)., none .offering; second quality, average about 3211)., none offering;' other South Island, 361 b. and under, 37 to 421 b., and 43 to SOltaL, none offering; selected North Island, including Downs, ;361b. and under, -ond quality, average about 321 b., 6i|d. Australian lambs:—Victorian, first

auality, . n >7 to 421 b., Gj|d,- other States, first quality. K to 421 b., 6fd; all States, third quality,, average about 361 b.,. "igd. Argentine lambs:—First quality, .'!/ to 421 b., <»id; second quality, average about 281 b., 6d'. Australian frozen beef:—Ox crops, over 1001 b., 2Jd; ox hinds, 1601 b,. and under, 3§d. Argentine chilled beef:—Ox fores, 160 to 2201 b., BJd; ox hinds, 160 to 2201 b., sgd; others unchanged.

TBEASURY BILL RATE (British Official Wireless.) Rec. 10 a.m. RUGBY, Doc. lb The amount applied for in tenders for £35,000.000 worth of Treasury bills was £46.670.000. The amount allotted in bills at three months was £31,870,000. The average rate per cent, was 9/5.48d, compared with 11/2.lSd Just week.

ALEXANDER MINES REPORT Alexander Mines, Ltd.. report for November:—No. 3 north • drive : Stone about 3ft. in width is again showing m the face of this level. The lode is showing overhead and some stoping ground Should be available hero later on. No. 3 intermediate drive: The position of tins face is now 213 ft, from the point of nitersection of the lode in this level. The whole of this distance with the exception of two small breaks has been driven on lode. The fnce shows stone sft. in width and looks promising for continuing further. No. 4 north drive : This face shows stone 3ft. in width on the eastern wall, but so far does not live up to the back of the level. Stoping: Sloping has been carried on in No. 4 backs, all stoping faces looking well. Owing to the exceptionally dry weather water is becoming scarce'for both races. The battery has barely sufficient to supply full pressure on tiic pelton, and the new race is at present discharging only about four heads. Two stope hammers are being worked and another is on order. Battery: 338 tons, were sent to the battery and 335 tons crushed for a return of 150 oz. melted gold. The cyanide department treated 279 tons of sand for 50oz. 15dwt. of bullion. The concentrates roaster produced 1450 z. 14dwt.. of bullion. In addition 14.32 tons of concentrates have been saved. The. total estimated value of the above return is £2338 10s, and the estimated value of concentrates saved is £334. In estimating the above values, gold has been taken at 140 s per fine ounce.

LONDON STOCK EXCHANGE RUGBY, Dec 13. On the stock markets leading British stocks were again strong under the influence of the Chancellor of the Exchequer's statement in the House of Commons that the maintenance of cheap money formed an essential part of the Government's policy. War Loan ty per cent, reached £IOB. India stocks were also strong.

GOLD MINING RETURNS The secretary of the Goldfields Dredging Company," Limited, reports that the return for the week ended December 14 was 30oz. for 128 hours' dredging.