COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 19023, 25 May 1936, Page 11

COMMERCIAL

FIRMLY STEADY AUSTRALIAN SHARE MARKET (Elec. Tel. Copyright—United Press Assn.) SYDNEY, May -'-• On the Stock Exchange to-dny banking, brewery and other classified stocks were firmly steady. Renewed support; was accorded cement shares owing to the Federal Government's decision to maintain temporarily the existing duties. Sales: Bank of New South Wales, £33; Commercial Bunk ot Sydney, £i>o 10s; Bank of Adelaide, £6/15/-; Colonial Sugar, £4l 12s Gtl; Associated News, 22s 1 Jd; Berlei, Sift's fid. British Tobacco, 41s Oil; Tooths, ;"2s 3d; 0. J. Coles, 78s !>d; Drug Houses, 30s 7d; Duiilop-Perdrinu, 17s 4Jd; Australian Glass, 90s; Wilcox Mofflin, lis Od,.

Anthony Hordern, 10s; Amalgamated Textiles, 9s lOd; Hume Pipe, 18s 7id; Australian Guarantee Corporation, 2ns 3d; Cash Orders, 23s (id; Australian Wood Pulp, 12s; .7. Fielding, 78s; Ivnndos, 23s 3d. United Provisions, 13s 10d; Wnihurton Franki, 10s; Lustre, 245; Ushois Hotel, 20s Od. Mount Mprgan, liis 3d; Broken Hill Proprietary, 03s Od; Kuala Knmpar Tin, 14s• lOd; Plficer Developmont, £5 10s 0d; F<mperor, 12s Od. Atprning sal-es included: Cominon■\Voalth honds, 33d per cent., 1040, £OB 10s j 4 nor cent., 1938, £lO2 lfs 0d; 4 per cent., 'IW, £lOl 10s; 4 per cent., 1047, £lO2 17s Od; 4 per cent., 3050, £lO2 17s Odj 4 per cent., 1055; £103; 4 per cent., 1061, £lO2 15s; Commercial Banking Company of Sydney, £2O 8s; Tooths Brew'ery, 52s 3d; Anthony Hordern, 18s 71d; Associated Xews, 22s Hd; Australian Glass, 90s 3d; British Tobacco, 41s 3d; Broken Hill Piopi'ietaiv, 03s 3d. MELBOURNE, May 22. Sales on the Melbourne Stock Exchange to-day included: Commercial Bank of Australia, 10s Od; ditto, pier'., £0 9s; Bank of Australasia, £l2 3s; National Bank of Australasia, £lO paid, £ls 10s; Metropolitan Gas, £l4 Is; Goldsbrough M,ort, 32s (id; Australian Glass, 00s; G. J. Coles, 78s; Emperor, 12s 7d; I.olama, 19s; Koroerc 3s 10d.

LONDON MEAT MARKETS PRICES STILL EASIER LONDON, May 2::. Smithfield prices arc still easier. Eight wether mutton declined this week by Jd, but other weights remaiiu'd unnltered. Ewe mutton dropped id to id. Lightweight lambs from the South Island were down by id, second quality from the North Island declined similarly, other'quotations remaining unchanged. -Medium porker pigs weakened by Jd. New Zealand frozen ox fores improved by id, but chilled beef generally declined.

The following quotations are the approximate average prices realised during the week based on actual transactions of wholesale quantities of the descriptions mentioned, ihe figures in parentheses being the prices for the previous week: — MUTTON. Canterbury and North Island selected crossbred wethers and maiden owes.—4Blb. and under, 43d (4Jd): 491 b to 561 b, 45d (4*4) j 571 b to 041 b, 4id (4*4); 051 b to 721 b, 4d. (44.) North Island wethers.—4Blb to 501 b, 4|d (4j|dJ; 571 b to 041 b, 4*d. (4*d)j 051 b to 721 b, 3|d (3Jd). . New Zealand ewes.—4Blb and under, 41d (4|d); 4,91 b to 641 b. 3Jd (3;d); 651 b to 721 b, 33d (3Jd). Australian.—First quality c.rossbieds and wethers, 401 b to 051 b, 4Jd; second quality, 301 b to 551 b, 4g<l; ewes, 301 b to 551 b, 4J<l.

Argentine.—First quality crossbred wethers, 481 bto G4lb, 4W; (Jslb to 721 b, 3|d. Patagonian.—Wethers and maiden evves under 501 b, 4Jd; second quality average about 371 b, 6|d. LAMB Canterbury.—36lb. and under, I'd (7id); 371 b. to 421 b., 6£d (6jd); 431 b. to 501 b., 6£d second quality, average about 311 b., 7d (7d). Other South Island.—36lb. and under, 71$ (7id); 371 b. to 421 b., 6Ad"(6id>; 43ib. to 6Mb., 6kl (6jLd). North Island Southdowns.—36lb, and under, 7gd (7|d)j 371 b. to 421 b., 6Jd (64d) ;■ 431 b. to, 501 b., 6|d! (6£d); second 1 quality, average about 301 b., 7£d (7J,d). Other North Island, first quality.— 361 b. and under, 7d (7£d); 371 b. to 421 b., 6|d (6id); second quality, average about 311 b., 6?d {Sid).

Australian.^—Victorian, first quality.— »56H). and under, old 1 (6|d); 371 b." to 421 b., 6d;(6d); second quality, 361 b. and under, 6j}d; all States, third quality, average about 261 b., 6|d. '■■ Patagonian.—First quality, 361 b. and under, 61,d • 371 b. to 421b.,' second quality, average about 301 b., 61 d. Arctentine.—36lb. and under, 6|d ; 371 b. to ,431 b.. 5Jd. FROZEN 1 BEEF . Now Zealand.—Ox hinds, (4]d) ; OX fores, 3d (2]d). ' Aiistralian.—Ox hinds. 4|;l (4|d): ox crops, (3id). CHILLED BERF New Zealand;—Or hinds, 3M? (%!).; oxrforesj 2id (2id). Australian.—Ox hinds, 3Jd (4d); ox fores, 2id,(2§d). ! Argentine.—Ox hinds, 2Jd' ox fores/ 2jd (2|dh Uruguay.—Ox hinds, 4£d (4]d): ox fores, 2Jd (2§d). Brazil—Ox hinds, (4d); fores, not quotedj Union of South ' Africa.--Ox. hinds, ■43 d (41d); ox fores, 2jd (?4d). Southern Rhodesia.—Not. quoted. ' All beef prices are for quarters 1451 b. to 2101 b. PIGS Now Zealand, first quality.—Porkers. 601 b. to 80U>., ogd |sid); 811 b. to ICO lb„ sid (sld> ; 101fl>. to 1201 b., 5W (Std).' Raconers, 1211 b. to 1601 b, sfd (s?d).

MINING NEWS THE MARTHA COMPANY The following information lias been cabled to London by the Martha Cold Mining Company (VVaihi), Limited:—. For the period ended May 9, comprising 204 crushing days, 17,801 toin of ore were crushed for a result of 4480 line ounces of gold and 45,846,fine ounces of Silver, this includes 2124 tons mined from the Grand Junction area, which yidlded-540 fine ounces of gold and 1424 line, ounces of. silver, N 6. 2 Level.-Bell Reef: Driving west of Hooper crosscut, the next 34ft.

assays 17s 6d a ton. The reef is about 4ft. wide. No. 7 Level.—North-west crosscut: Froni the north branch of the Martha lode at 240 ft. in there is a formation. The first 2ft. is quart* assaying 6s od a ton, the next 6ft, is a mixture oi quartz and country, assaying Is a ton, and the last 3ft. is a mixture, of quartz and country, assay unfinished. The crosscut is 'in 277 ft. and the face is in unfavourable rock. . .

No. 12 Level.—Edward Lode: Driving south, the next 59ft, shows no change. A crosscut at 731 ft. showed the following results: Measuring from the east wall the first sft. a mixture of quartz and country, assaying Is 3d a. ton; the next 4ft. sulphide ore, assaying 4s Sd a ton; and the last 4ft. a mixture oi quartz and country, assaying Is M » ton.

YIELDS OF COMPANIES

Wnipapa Beach (Otago).—lßoz. 6dwt, for 130 hours. Waitahu (West Coast).—Partial wasliup from No. 6 paddock resulted in a return of 40oz. lOdwt. for 36 shifts of eight hours each. The previous wash-up was on May 4. This makes a total ot 108 oz. sdwt, from this paddock since the commencement of elevating operations on April .3. Paddy's 1 'Point {Central Otago).— Partial'wash-up of 560 z. from the first, paddock in the freehold property recently acquired in Waitahuna township

NORTH BROKEN HILL, LTD. DISTRIBUTION TOR YEAR 70% North Broken Hill, Limited, has advised the Stock Exchange Association that the directors have declared a dividend of 2s 6d per share, together Willi n bonus of Is per share, payable in Melbourne'on June 26. Transfer books close on May 20. Similar quarterly distributions were made, on September 28, December 12 and -March 27, so that the total for the year ending June 30 will be 14s per share, equal to 70 per cent, compared with Js per share or 45 per cent for the previous vear. Net profit last, year was £390,683, making with £364,437 brought forward :i total of £755,121. Dividends and bonus absorbed £515,000, and after appropriating £59,441 for new plant, £380.680 was carried forward. The company has a capital of £700,000 in £1 shares. A sale of the company's shares was,made on the Melbourne Stock Exchange this week at. £8 8s 6d. NORTHERN STEAMSHIP CO. NO DIVIDEND RECOMMENDED The Northern Steamship Company, Limited, reports a net profit for the year ended .March 31, of £bo64, without providing for depreciation, for which £ .010 is appropriated. This compares with £5829 earned in the previous year alter allowing for depreciation. No dividend is recommended, against 5 per cent paid in 1935. Added to the balance on working account is £1995' brought forward, making available. £7069. After making provision for depreciation, ,the balance jn the jjrofit and loss account is £1049-. GRAIN AND PRODUCE CHRISTCHURCH MARKET:; The .week, closes with the potato market very quiet in Christchuruh, states a message" or Friday. There is at present not very much business turning over owing to the heavy shipments maue during the last week or 10 days. The prompt quote is £6 2s 6d for whites and Dakotas, equal to £4 17s 6d on trucks, with Sutton's Supreme commanding £6 ss. Comparative figures of shipments from 'Lyttelton during the last four years attord an interesting, commentary on tho potato situation. 'Up to this time last season 60,992 sacks! had J>oen shipped from Lyttelton, compared with 355,047 this year, 17,667 in 1933 and 49,90+ in 1934. Shipments from Timaru this season bear up to comparison better than the Lyttelton figures, being to May 16, 1936, 32,725 sacks, and to May 31, 1935, 35,417 sacks.

Christchurch merchants report a pronounced scarcity of pollard. New .---ealand does not produce sufficient pohard for its own requirements depending upon Australia for a certain quantity. Unfortunately this season finds Australia Herself very short of pollard owing to a dry. season, and a heavy demand for the commodity, notably from pig-farmers. Consequently the Commonwealth cannot supply New Zealand with its usual quota. Moreover, tho Australian price is very high, higher than it has been since July, 19.5 U. The, demand for pollard lias been brought about by the development of the pig industry' during the last few years, and it is now sharing with the poultry industry a very large proportion of the output. Of course, when stock foods of any one particular kind become unduly high in price and short in supply, those interested in the development of the industries consuming those commodities begin to look around for substitutes. Interesting also is the fact that the juice of Australian pollard is about £8 12s 6d landed at Christchurch, as against £6 15s for New Zealand pollard. Tho chaff market, is fairly steady, with quotations unchanged and there are no movements of importance to record in fowl wheat, oats and small seeds markets, the position of all these being unchanged.

AUSTRALIAN* PRODUCE • SYDNEY, May 21. The wheat market is quiet, the, quotation at country sidings being 3s L£d 11 bushel, which, is equal ln about 3s 8d ex trucks Sydney. Flour, £9 15s';u ton. Bran, Zb 10a a ton. Pollard, £6 15s a ton. Potatoes: Tasmanian, £8 to JC9 10s a ton; others, £6 10-;. Onions: Victorian. Brown, ill' 10s a ton. MnizV- • Yellow, ss: while, 5s 3d a bushel. , ADELAIDE, May 21. Wheat, growers' lots, 3s 6d a. bushel. Flour, bakers' lots, £9 7s 6d a ton. Bran and pollard. £6 lCs a ton. Outs, Algerian, 2s a bushel. Barley, 2s Id a. bushel. MELBOURNE, May 21. Wheat, 3s to 3s 10d a. 'bushel. Flour, £9 5s n, ton. Bran, £6 15s. Pollard, £7. Oats, 2s Ed. to 2n ty a bushel. Barley, English, 2s 8d to 2k lOd. -Maize, 5s 3d to 6V 4d. Potatoes, £6 10* to £7 5s a. ton. Onions, £9 5s to £9 10s.