COMMERCIAL

Poverty Bay Herald, Volume LXV, Issue 19550, 4 February 1938, Page 2

COMMERCIAL

WAIKATO STOCK VALUES SHEEP MARKET BUOYANT •BUSY FORTNIGHT FORECAST Pastures in the Waikato generally show an improvement and partly due to this greater buoyancy is evident in the sheep market. Indeed, the reception of the special entry at Hamilton showed a keenness that was astonishing. Some Of the individual lines made within Is of last year’s prices.

There are plenty of buyers for sheep and possibly the number needed will be no fewer than a year ago. Purchases cannot be indefinitely postponed, but the main local fairs will shortly conclude and it is questionable if better opportunities will later be made available.

Prior to this week the tone of the sales was extremely erratic, with occasional bursts of eagerness, but the buyers’ attitude was one of apathy. This week a distinctly brighter tone has everywhere been evident. It was as if buyers had determined that the business of purchasing must begin. The Oparau fair was held on Monday, and for the large, if not striking, display of ewes excellent competition was offered. Almost everything, including a heavy lamb and wether entry, was satisfactorily transferred. Most farmers think it desirable to have sheep settled on their pastures before the middle of February, and if this is to be accomplished a busy fortnight lies ahead. Apparently good sound ewes are not going to be procured as cheaply as was first thought probable, and indications point to a general realisation of this fact. What may happen later when the surplus from other districts is poured in may be open to argument, but during the next few weeks sheep business, as always, must be brisk. Recent sales have set the following values: Two-toOth ewes, best, 34s to 36s Gd; four-year, 28s to 325; five-year, 25s to 29s for the best; second grade, 21s to 245; good six-year, 17s to 20s; aged, 11s Gd to 15s; culls, 7s to 9s Gd. Trade for wethers has been remarkably good everywhere, forward classes selling up to 24s Gd, with light stores from 225. Lambs vary somewhat from sale to sale, but recent events indicate a general firming and certainly they had descended to a level which could not fail to be ultimately profitable. Good shorn wether lambs are worth from 13s Gd to 15s: medium, 11s to 13s; small, from 8s to 10s; shorn ewe lambs, lGs Gd to 20s; smaller, 12s to 15s.

W. R. CARPENTER, LIMITED

HIGHER INTERIM DIVIDEND An interim dividend at the rate of 10 per cent per annum has been declared by W. R. Carpenter and Company, Liimted, Island traders, Sydney, tor the half-year ended December 31. 1937. This compares with an interim payment at the rate of 8 per cent per annum in the previous year, when the full year’s payment was 9 per cent. The dividend is payable on March 15.

GREATER ACTIVITY SYDNEY STOCK EXCHANGE (Elcc. Tel. Copyright—United Press Assn.) SYDNEY, Feb. 3. There was greater activity on the Stock Exchange to-day, with prices generally steady. New Zealand investors were in the market for Dunlop-Perdriaus, Kandos and Goldsbroughs, which are Turning. Mining business was dull. Sales to-day were as follows: Commercial Banking, Sydney, £2O 4s; Commercial Bank of Australia, 17s; Associated News, £1 2s 7Ad; Australian Gas, A, £7 8s Cd; British Tobacco, £2 10s 3d; Tooths, £2 15s 9d; Australian Glass, £4 14s 9d; Dunlop-Perdriau, £1 3s Gd; do., New Zealand delivery, £1 3s Gd; Farmers, £1 13s; David Jones, £2 Is; Lustre, £1 3s Gd; do., pref., £1 3s 9d; General

industries, £1 Is lid; Kandos, £1 6s; do., New Zealand delivery, £1 5s 9d; Hume Pipe, £1 Is lid; Cash Orders, 17s 10!d; Felt Textiles, £1 17s; Sargents, £1 10s; Hackshalls, 13s 7d; Newould, £1 14s; Carriers, old, £1 5s 9d; Meggitts, £1 11s Gd; Standard Cement, 19s Gd; Australian Paper, £1 12s Gd; Woolworths, £1 5s Gd; Goldsbrough, New Zealand" delivery, £1 lls Gd; Wilcox MofTlin, 10s 4d; Henry Jones, £2 9s 3d; Electrolytic Zinc, £2 8s Gd; do., prof., £2 10s 9d; Mt. Morgan, 9s 8d; Broken Hill Proprietary, £3 2s Gd; South Broken Hill,' £1 15s 4id; Bulolo Gold, £7.

There was no definite trend in the Melbourne investment market. The fluctuations were narrow, and business quiet. Sales were as follows: — National Bank, £5 paid, £7 ss; National, £lO paid, £l4 13s; Drug Houses, £1 Gs; Dunlop-Perdriau, £1 3s 8d; do., pref., £1 18s Gd; Electrolytic Zinc, £2 8 S 3d; do., pref., £2 10s 3d; Mt. Lyell, £1 I.ls Gd; Broken Hill Proprietary, £3 zs Gd; North Broken Hill, £2 13s Gd; South Broken Hill, £1 15s; Emperor, 12s Gd; Loloma, 18s.

CARLTON BREWERY

YEAR’S DIVIDEND INCREASED The directors of Carlton Brewery, Limited, Melbourne, have declared a final dividend of 7J per cent, making 15 per cent for the year ended December 31, 1937, against 12 per cent in the previous year. Payment will be made on March 1.

DECLINE IN STERLING RESERVE BANK RETURN (Per Press Association.) WELLINGTON, last night. The statement of assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on January 31, 1938, in comparison with tthe preceding week, is as follows:

Proportion of reserve to notes and other demand liabilities, 67.321 per cent (70.789 last week).

OPOTIKI SHEEP FAIR YARDING OF 20,000 The annual sheep fair was held at the Opotiki saleyards on Tuesday. Over 20,000 sheep were yarded. A large number of buyers were present from all parts of the Bay of Plenty, Rotorua and the Waikato. The sale was an erratic one, and prices realised showed a considerable decline on February values last year. Vendors in most cases met the market and accepted current rates. A large entry of good back-country ewes met with a keen demand. Prices realised were: —On acount of Mr. A. E. Blake, 5-yr., 225; on account of Mr. E. Sundell, 5-yr., 23s 6d; on account of Mr. Mr. A. J. W. Kemp, 2-tooth, fat, 30s Gd; on account of Mr. Frank Fisher, Motu, 4 and G-too'th, 25s 3d; on account of Messrs. Looney Bros., 5-yr„ 245.

A large entry of really good 2 and

4-tooth wethers came forward in excellent condition and met with keen competition, the whole of the yarding being sold under the hammer. Prices were:—On account of Mr. A. E. Blake, 4-th, 24s 9d; on account of Messrs. Looney Bros., 2th, 22s I Id: on account of Mr. E. Sundell, 2-th, 21s 8d; on account of Amakura station, 4 and 6-th, 23s Gd. There was a fair entry of very ordinary quality lambs and prices were poor.

FEILDING RAM FAIR

ONE OF BEST YET HELD (Pur Press Association.) FEILDING, last night. An attendance representative of both the North and South Islands was present on the first day of the annual ram fair rat Feilding to-day, when about 1350 flock and 35 stud Romneys were offered. The market was slow at first, and although firming later, remained unsteady all through. Nevertheless, the sale was one of the best yet held at Feilding for good sheep,, which averaged well above recent years. The top price for stud rams was 75gns, with others from 40 to 73gns, the average price being 37Jgns. Rams exhibited in the flock classes at the Feilding Show sold extremely well, top prices being 40gns, against 20gns last year, and a heavy percentage of indifferent quality rams in the general flock offering brought the average price well down, although individual breeders with well-known flocks enjoyed a greatly improved sale. The top price for a flock ram in this section was 23gns. Fully 80 per cent of the offering was cleared at auction.

1, labilities Jan. 24. Jan. 31. £ £ General reserve 1,500,000 1,500,000 Bank notes . . 14,295,959 14,240,044 Demand liabilities — (a) State .. 3,022,090 3,352,490 (b) Banks .. 10,308,005 9,805,409 (c) Other .. 041,541 093,106 Other liabilities 195,175 195,907 Total .. £29,901,437 £29,907,084 Assets Reserve — (a) Gold .. 2,801,791 2,801,791 (b) Sterling ex. 17,209,189 10,230,051 Subsidiary coin 218,392 217,091 Advances— 1. Primary Products Account .. 0,093,308 0,023,765 2. Other pur. 900,000 1,100,000 Investment .. 2,058,325 2,914,652 Other assets .. 80,431 79,132 Total .. £29,961,437 £29,907,084