COMMERCIAL

Southland Times, Issue 19510, 9 May 1922, Page 2

COMMERCIAL

STOCK EXCHANGE. BRISK BUSINESS. A number of sales were reported at yesterday’s meeting of the Stock Exchange:— Sales reported:—Southland Frozen Meat, £1 ord., at £1 3/-; 10/. ord. at 11/6; Kaiapoi Woollen, contributing, at 11/9; D.1.C., pref., at 18/-; War Bonds, 1938, at £92 15/-; Soldiers’ Bonds at £9B; Invercargill Corporation debentures (6 per cent.), at par. Following are the latest quotations (subject to brokerage):— Bank of New Zealand, buyers £2 11/-. New Zealand Coal & Oil, sellers 3/6. Westport Coal, sellers £1 10/-. New Zealand Insurance, buyers £1 8/-. Southland Farmers’ Co.-op., sellers £2. New Zealand Milk Products, buyers £1 1/6 Southland Frozen Meat, £1 ord., buyers £1 3/-, sellers £1 5/-; 10/- ord., buyers 11/6, sellers 13/-; £1 pref., buyers £1 3/-, sellers £1 5/-. Huddart Parker (ord.), buyers £2 6/6. Kaiapoi Woollen Co. (ord.) sellers £1 6/-. New Zealand Drug, buyers £2 10/-. New Zealand Paper Mills, sellers £1 2/6. Otago Daily Times, buyers £2 5/-. Greater Lyceum, buyers 2/-, sellers 3/6. War Bonds,. 1930, buyers £93 10/-; 1938 and 1939, buyers £92 10/-; Soldiers’ Settlement Bonds, yuyers £92 2/6. CHRISTCHURCH STOCK EXCHANGE. (Per United Preus Association.) CHRISTCHURCH, May 8. Sales reported: Bank'of New Zealand £2 11/9, National Bank £6, £5 19/6, and £6. Sales on ’Change: Bank of New Zealand £2 11/6; New Zealand Refrigerating, £1 paid, £1 5/9. OAMARU MARKETS. OAMARU, May 6. There is still a fair quantity of wheat coming in from the country. A number of ordinary-sized lines have changed hands during the week, but the transactions have not included any lots of large dimensions. Any lints of prime milling are readily taken up by millers, but a number of the consignments coming forward at present must be classed as only fair, and these are very hard to place, as millers will not look at anything but the best. A fair quantity of fowl wheat is being offered, but some of it is very inferior and can only be sold on sample. There is no demand for secondary quality. There has been a little business in oats during the week at up to 2/7 for A grade Gartons, with B grade realising Id less, on truck, at country stations. There is no improvement in the position as regards barley, the market for which is absolutely lifeless. One or two samples of cowgrass have come on the market during the week, but no sales have been reported. The sheep market is still fairly active, but in some departments prices show an inclination to ease slightly, as farmers are now practically stocked up for the year. Good young ewes are still in good demand, but these are very hard to get, as there are practically no lines offering. Fat and store lambs and forward wethers meet with a good inquiry, but rape are a little easier. Prices for fat lambs are being reduced by id per lb at the* beginning of next week. Several lines of ewes have changed hands during the week, including a station lot of halfbrd ewes at 18/6. A good-sized line of fat wethers was disposed of at 22/6. At the Waiateki yards on Tuesday there was a good entry of sheep, some 1500 fats and about 2200 stores coming forward. The demand for fat sheep was good, and the bulk of the stores were cleared, although the sale was somewhat dragging. The store sheep included a line of 383 four, six, and eight-tooth wethers, which realised 18/3. Four, six and eight-tooth ewes brought from 17/6 to 18/1; two, four and sir-tooth ewes 23/- to 24/-; aged ewes, 10/- to 12/-; culls, 7/6 to 8/6; best store lambs, 18/6 to 22/6; medium, 12/6 to 15/8; small and inferior, 9/-. Fat sheep: Prime lambs, 26/- to 28/6; extra, to 29/9; medium, 23/- to 24/6; light, 20/- to 21/6. Prices may be quoted as follows: Six and eight-tooth Corriedale wethers*in very forward condition, 18/- to 20/-; sound-mouth ewes, up to 20/-; four and six-month ewes, 24/6; four, six. and eight-tooth wethers, 18/6 to 19/9; full and failing-mouthed ewes, 12/6 to 16/6; fat lambs, 23/- to 29/6; good forward sorts, 20/-; backward stores, 12/6. The cattle market is still lifelees except for good sound cows right at the drop, which can be placed without difficulty. During the week three-year bullocks have been sold at. £4 and two-ye.ar-old cattle at £2 5/-. Pigs.—Best, slips, 20/- to 25/6; medium, 16/- to 19/-; best weaners, 12/6 to 14/6; medium, 9/6 to 11/-. TRADE WITH THE EAST. WHAT IS NEW ZEALAND DOING ? “We have consistently urged upon the Government the necessity of improving our trade with the East, and though we have the support of every chamber of commerce, titrough the associated chambers, we have not yet managed to impress the Government sufficiently to help us,” said Mr J. T. Martin at the Wellington Chamber of Commerce meeting. “In the East there are markets for our frozen meat and dairy produce, ) cement, bacon, hams, apples, onions, potatoes, hides, tow, and wool, and overtures have been made by Japanese shipping circles to extend to New Zealand a direct monthly service. We have asked our Government. to send over to the Dutch East Indies, Malay Peninsula, China, and Ja pan, a first-class representative to make a careful investigation and report in the interests of this country. Australia is making a big cut into the Eastern trade, and she deserves all, as she has two special permanent representatives; and besides has sent a special delegation of business men at. the Government’s expense to foster those mar kets. “It has been suggested that, instead of approaching the Government, the merchants themselves should send a representative to the East. If that were done only a few select merchants who were bearing the expense of the travelling representative would reap the benefit and they would take care to confine all the information to themsdlvAs. What this chamber desires is strong publicity of New Zealand and its primary and manufactured products, interest aroused by Eastern merchants in our good*, and concentrated action to place these goods successfully on the Eastern markets. The increased volume of trade and revenue would amply compensate the Government for the small expenditure.” THE ORDER OF PORTS. By i shuffling of figures Wellington has secured what it has long striven for—first on the list of ports, and above Auckland The Wellington papers, said Mr Rankin, at a meeting of the Wanganui Chamber of Commerce meeting, were naturally, gloating over the turn of events, but he pointed out that it was a serious thing for Wanganui, which, instead of being fourth on the list of New Zealand ports, was now seventh, and in danger of being passed by New Plymouth. All goods from the Wanganui district nowgoing through Wellington were credited to Wellington port, and he took it that goods sent to Wanganui port to Wellington for transhipment overseas were also credited to Wellington and not Wangnui. The whole thing was engineered by Wellington, and he thought the districts which were suffering sould combine to remedy it. It seemed as if Patea was to be wiped out. Mr Rankin’s remarks (reports the Wanganui “Herald”) raised a general discussion, and the the grievance was referred to the Shipping and Export Committee—Messrs W. Brown, A. Har ris, A. E. Rankin, and R. W. Green. “A good lighting committee,' 1 one member de -''’•lbed them.