COMMERCIAL

Southland Times, Issue 19522, 23 May 1922, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S BUSINESS. At yesterday’s sitting of the Invercargill Stock Exchange, a sale of New Zealand Soldiers’ Settlers Bonds was reported at £9B 5/-. The following quotations were given.:— Bank of New Zealand, buyers -51/-, sellers 51/9. New Zealand Coal find Oil, sellers 3/1. New Zealand Insurance, buyers 28/3. Westport Coal, sellers 29/9. Southland Farmers’ Co.-operative (ord.), sellers 40/-. New Zealand Milk Products, buyers 21/6. Southland Frozen Meat Co. (£1 ord.), buyers 24/-, sellers 26/-; di+to (10/- ord.), buyers 12/3, sellers 13/-; ditto (£1 pref.), buyers 24/-. New Zealand Drug (£2 paid), buyers 51/-. New Zealand Paper Mills, sellers 22/-. Otago Daily Times, buyers 45/-. Papuan Products, sellers 7d. Greater Lyceum, buyers 2/6, sellers 5/9. DEBENTURES. War Bonds (1930 4j per cent., free of income tax), buyers £94; ditto, 1938, buyers £93 15/-; ditU, 1939, buyers £93 15/-. P.O. Bonds (1927, 5 per. cent.), £94 10/-. P.O. Inscribed Stock (1927), £94 10/-. New Zealand Government Soldiers’ Settlers’ Inscribed Stock, £9B 10/-. MEAT AND TALLOW. The New Zealand Loan & Mercantile Agency Co., Ltd., has received the following cablegram from its London house, under date May 17: — New Zealand Frozen Meat.—Lamb ll|d per lb; wether and maiden ewe, light 7£d per lb, heavy 6§d per lb; ewe, light 6Jd per lb, heavy ssd per lb. Beef—No change, market slow (last quotations 10/5/22) : Ox hinds 4d per lb, fores 2£d per lb; cow hinds 3id per lb, fores 2d per lb). Tallow. —We quote present spot values for the following descriptions: Fine mutton 41/- per cwt; good beef, 38/6 per cwt; mixed, 33/6 per cwt. The market is dull. WOOL AND SHEEPSKINS. Messrs Dalgety & Co., Ltd., report having received the following advice from their Head Office, London, under date May 19: — Wool sales closed very firm. Active competition as compared with last sales closing rates. Merino wools, super greasy, prices unchanged; other descriptions, 10 to 15 per cent, higher; Merino wools, super scoured, 10 per cent, higher; average and faulty scoured, 10 to 15 per cent, higher. Crossbred fine quality greasy, 15 per cent, higher; medium quality, 10 to 15 per cent, higher; coaree, 15 to 20 per cent, higher; crossbred scoured, 10 to 15 per cent, higher. Slipe wools, crossbred 10 to 15 per cent, higher. Merino lambs, super, par to 5 per cent, higher. Other descriptions, 7} to 10 per cent, higher. Crossbred lambs good, 10 per cent, higher. Faulty and crossbred lambs, inferior par to 5 per cent, higher; 82,000- bales offered, including 18,600 New Zealand, 1200 bales Capetown, 2000 bales Punta Arenas. B.A.W.R.A. offered 35,900 bales Australian, 31,000 bales New Zealand, 8500 bales Capetown. Practically all sold. 50,000 bales sold to the Continent, including 800 bales of Punta Arenas, 3000 to America.

Sheepskins.—47so offered and practically all sold, including 1400 South American. Number of buyers was large. Good competition. Australian prices are higher by 15 to 20 per cent., except lambs, 5 to 10 per cent. New Zealand prices are higher by 15 to 20 per cent, except best halfbred; combing skins prices are 5 per cent, higher. Merino three-quarter to full-wool 14d, Merino quarter to half-wools 9d, short and shorn 4d, crossbred three-quarter to fullwools fine 12d, crossbred three-quarter to full-wool medium and coarse 6id, crossbred quarter to half-wool fine Bd, crossbred quarter to half-wool medium and coarse 6j£d, crossbred short and shorn sd, lambs Bd. THE OAMARU MARKETS. OAMARU, May 20. Milling wheat has constituted the greatbulk of the business in the grain market during the week. A very considerable quantity has passed out of growers’ hands into those of millers, though no very big lines have been handled. The most noteworthy transaction reached 1200 sacks, composed of Hunters and Tuscan, while other lines, mixed and straight, ranged from 700 sacks downwards. On the whole the wheat is coming forward in excellent condition, but there have been some rejections of lines sold earlier. Fowl wheat, of which there is more than a usual supply, is moving off very slowly. Oats still show no inclination in the direction of activity, and sales are few and of smallish compass. Growers display no readiness to accept current prices, and some authorities say that supplies in the country are much smaller than was generally believed. A few sales of Gartons have been made during the week at the following prices net at country stations:—Super A’s or milling, 2/6; A’s, 2/5; B’s, 2/3. Barley remains unsaleable, there being no buyere of either variety. Some inquiries have been received from the North Island for good, bright Cape for seed purposes, but so far no business has been done, and values remain uncertain. There has not been much manifestation of life in the stock market. There might be a greater amount of business passing if the right class of sheep were forthcoming. Good young bleeding ewes, for example, are wanted, but sellers are rather rare. On the other hand, all descriptions of wethers are easier, and so readily placed. The keen edge has also been worn off lambs, probably because the season is getting towards its close, but a mixed-sex line of halfbred hill lambs, numbering 2000, changed hands during the week at 14/6, and there is some demand for good ewe lambs. The sales of the week inclqded the following:—Mixed four and six-tooth ewes, 22/-; full and fail-ing-mouth ewes, 10/6; heavyweight butchers’ fat wethers, 25/-; store six and eighttooth wethers, 25/-; store six and eighttooth wethers, 17/-; good fat and forward lambs, 22/6; store lambs, 14/-. Freezing buyers are still operating in fat lambs on the basis of from 7jd to 7£d per lb. Cattle very generally continue unsaleable, and the available supply of stores is growing. The only business reported is in me-dium-weight fat bullocks of good quality at from £8 to £9, and three-year-old heifers in calf at from £4 to £6. CHRISTCHURCH STOCK EXCHANGE. (Per United Press Association.) CHRISTCHURCH, May 22. Sale reported: Government 4| per cent, bonds (1938), £94 10/-.