COMMERCIAL.

Southland Times, Issue 18983, 18 November 1920, Page 2

COMMERCIAL.

E. REECE, LTD., CHRISTCHURCH. Messrs E. Reece, Ltd., the well-known iron and hardware merchants of Christchuroh have issued a prospectus inviting subscriptions at par for 60,000 7 per cent, cumulative preference shares free of income tax. E. Reece, Ltd., was incorporated in 1916 to acquire the hardware business founded in 1856 by the late Edward Reece. The present business comprises wholesale and retail departments, extensive stores and workshops and is carried on upon the company’s freehold premises situated in the very heart of the city. A recent independent valuation of the property states the value at £19,500. Ihe rapid development of the business has called for furtner capital to meet such expansion and to enable the comp ny to adequately deal with its increased turnover. Recently the capital was increased from £75,000 to £125,000, and it is the increase of capital that is, by the prospectus being offered to the public in the issue of 7 per cent, tax free preference shares. BURNSIDE MARKET. (Per United Press Association.) DUNEDIN, November 17. With the exception ot [kgs, there were good supplies in each department of fat stock at Burnside to-day. For the firstnamed prices showed an advance of 6/- a head, while for fat cattle, sheep, and spring lambs the ruling rates were somewhat easier. Owing to the prospective reduction in fats store cattle also showed an easing tendency in values.

Fat Cattle.-—-There was a yarding of 285 head of a medium description. Prime cattle sold at about 10/- a head below last week’s values, but firmed towards the close. Prime bullocks sold from £24 to £2B 2/6; medium, £l9 to £23; light and .unfinished sorts from £ls upwards; prime heifers from £l7 to £l9 10/-; medium, £l4 10/- to £l6 5/-; light and aged from £lO 10/- upwards; inferior, £8 10/- to £9 10/-. Store Cattle.—A large yarding came forward, and bidding lacked spirit, although there were a number of good quality animals offered. A further reduction in values took place, and in a number of cases prices failed to reach vendors’ reserve.

Sheep.—A good yarding of fair quality, numbering 2036 head. There was an increased percentage of shorn sheep forward, and competition relatively was better for these than for those in wool. There was a reduction on last week’s high prices, hut values were about 1/- a head in advance of those which ruled a fortnight ago. Extra prime heavy-weight woolly wethers realised from 65/- to 70/9; prime, 52/- to 62/-; medium, 46/- to 51/-; light and unfinished sorts from 42/- upwards. Prime ewes realised from 43/9 to 47/9; medium. 38/- to 42/-; light and aged from 32/- Upwards; extra prime heavy-weight shorn wethers sold from 51/6 to 59/3; prime, 45/- to 49/-; medium, 38/- to 43/6; light and unfinished sorts from 34/- upwards; prime ewes realised from 43/- to 47/3; medium, 36/- to 40/-; light and aged, 32/- upwards. Spring Lambs—A yarding of 98 of medium quality was forward. Owing to the increased supply late rates were not maintained, and prices ranged from 22/6 to 32/9 per head. Pigs.—There was a small yarding, which met with keen competition. Prices showed an advance Af from Id lo Id per Ih. Prime baconers realised from 3 /01 to 1/1 per lb, amt prime porkers from to 1/3 A per Ih ADDINGTON MARKET. CHRISTCHURCH, November 17. There was a b:g yarding at Adriington to-day, and a drop in prices both in beef and mutton. Store Sheep.—There .was a very small yarding, mostly hoggets and ewes and lambs which, the wool outlook notwithstanding, practically maintained recent values. Soundmouthed ewes and lambs (all counted) realised 21/9 to 22/10; sound and failingmouthed ewes; and lambs (ail counted) 20/6 to 21/-; aged and inferior ewea and lambs (all counted), 14/1 to 15/6; fourtooth dry ewes, 29/3; t wo, four, six, and eight-tooth dry ewes, 22/4; aged dry ewes, 15/6; fairly good wether hoggets, 26/5 to 26/7; good mixed-sex hoggets, 27/6; inferior m,xcci-sex hoggets, 20/3 to 21/10; cull mixed-sex hogget,-., 17/- to 17/10; g;;od mixed .-o: shorn hoggets, 25/-; two and four-tooth wethers, 27/ 10 ; four and sixoxirii halibre ! wethers. 33/10.

.Nearly 300 lambs were penned, and they ? ilu .‘■lrunaly. Values ranged from 30/- (o 44/- for n few specially prime sorts.

1 Sheep, - -’1 fie market opened at satis- | factory raJ.es, bur hail way through the dci ruand ew-ed and towards the finish lines wore difficult to sell. There was a drop ( of 4/- a head between the commencement | and the end of the market. Extra prime woolly wethers sold to 56/-; prime woolly ! wether.-. 45/- to 52/-; medium woolly wei lhers, 39/- to 44/0; light and unfinished, 3(1/- to 38/6; prime shorn wethers, 39/0 to 40/3; sin diuni shorn wethers, 34/- to 39/-; light and unfinished shorn wethers, 28/6 . 1,0 33/9; extra prime woolly ewes to 51/-; prime woolly ewes, 39/- to 44/-; medium 1 woolly ewes, 34/- to 38/6: light and ttni finished woolly ewes, 28/- to 33/6; extra i prime .shorn ewes, 43/-: prune shorn ewes, | 34/6 to 39/6; medium shorn ewes, 29/- to (34 /- ; light and unfinished shorn owes, 22/6 j to 28/6. j Fat Cattle,—A particularly good quality ! yarding, comprising good Otago and South I We-tl.md drafts. The entry was above requirements, and a drop of from 50/- to 60/- was experienced. Extra prime steers realised £33 10/- to £37 5, - ; prime steers, I £25 to £32 12/6; medium steers, £lB to £24 I 7/6; light and unfinished steers, £lO to £l7 ; i prime heifers, £l4 5/- to £2O; lighter heifers, £lO to £l6 10/-; prime cows, £l4 5/ito £2O; ordinary cows, £ll 17/6 to £l4 12/6; light and unfinished cows, £9 to £ll 10/-. Store Cattle.—There was an easier demand. Heifers realised £6 10/- to £8 5/-: eighteen-months steers, £6 12/6; bulls, £l3 15/-; good store cows, £8 10/-. Dairy- Cattle. —There was a poor quality yarding, which wa.s difficult, to quit. Good springing heifers sold to £2O 5/- ; ordinary heifers. £8 to £l4; specially good young dairy cows, £iS to £26 3/-; older and backward cows. £8 to £ls; runners, £9 5/-; pood vealcrs, £7 17/6; medium vealers, £4 16'-; inferior calves, 12/- to £2 8/-. Fat Pigs.—There was a general easing in prices. Choppers, £9 to £l3 ; light baconers, £5 15/- to £6 10/-; heavy baconers, £6 15/to £7 10/-; extra heavy baconers, £8 to £S 10/-; average price per lb, lid to I14d; light porkers, £4 10/- to £5; heavy porkers, £5 5/- to £5 12/6; average price per lb, 1/U to 1/2. Store Pigs.—There was a much easier demand except for wcaners. Medium stores, £3 10/- to £4*4/-; small stores, £2 12/- to £3 6/-; good weaners, £2 16/-; small weaners, £1 12/- to £2; sows (in pig), £7 10/to £lO 10/-.

THE WOOL POSITION. NORTH ISLAND SALES. FIRST ROUND ABANDONED. (Per United Press Association.) AUCKLAND, November 17. The first round of wool sales for the North Island has been abandoned. Information received to-day by the chairman of the Auckland Woolbrokers’ Association stated that, a meeting of wool buyers had been held at Christchurch, and buyers had decided not to attend any of the first sales fixed for the North Island. The first Auckland sale will be held on February 3, the date originally fixed lor the second sale.

AUSTRALIAN WOOL SALES. FURTHER DROP AT SYDNEY. (By Telegraph—Press. Assn.—Copyright.) (Australian and N.Z, Cable Association.) SYDNEY, November 17. At the wool sales prices were weaker, and showed a drop of 5 to 10 per cent, for good super and 10 to 15 per cent, for faulty. SLUMP AT MELBOURNE. MELBOURNE, November 17. The wool sales were dull and prices dropped 10 to 50 per cent, below the first series. Some faulty topmaking lots failed to elicit a bid. LONDON WOOL SALES, LONDON, November 16. (Received November 17, 5.5 p.m.) At to-day’s wool sale a rather better demand prevailed, with fewer withdrawals. The reserves for crossbreds were lowered, but those for combing Merinos are still too high; prices generally were unchanged. LONDON SHARE QUOTATIONS. LONDON, November 16. (Received November 17, 5.5 p.m.) Peninsular shares, buyers £450, sellers £470. The price of gold has been fixed at 120/9 per ounce. Hie United States is taking the small quantity offered. Bank Shares—Australasia, £B3 10/-; New South Wales, £2B 5/-; Union, £l2 5/-; National of New Zealand, £l2; New Zealand, £73 15/- and £23 hi-. New Zealand Loan and Mercantile, £SB and £95.