COMMERCIAL'

Southland Times, Issue 18931, 3 May 1923, Page 2

COMMERCIAL'

BURNSIDE STOCK SALE. J (Per United Press Association). DUNEDIN. May 2. There were large supplies of fat and store cattle at the Burnside sales to-day, while sheep, lambs and pigs were in moderate supply. A late sale resulted. The cattle ' pens were practically full, which was duo to venders being anxious to clear stock 1 from flooded areas. Last week it was impossible to bring in cattle from a distance, { and most consignments were removed from ' the trucks at various stations. These cattle ‘ were trucked in yesterday. The demand ’or all classes of stock was keen, which resulted in a buoyant sale in most cases. Fat Cattle.—A fair yarding of 269 head, comprising a few pens of well-finished steers, the quality on the whole being lower than usual. There was evidently a shortage of supplies on hand, and competition was fairly gcod, resulting in improvement in price of from 10/- to 15/- per head in comparison with last week’s values. Extra i heavy bullocks sold on a basis of 24/- 1 to 25/- per 1001 b; prime handy weights, 25/- to 26/-; second quality, 22/6; extra 1 prime heifers, 18/- to 20/-; good quality cow beef, 17/6; aged cow beef, 15/-; extra prime steers made up to £l2 17/6; prime, £9 10/- to £11; medium, £7 to £8 5/-; light and unfinished to £5 15/-. Fat Sheep.—An average yarding of sheep was offered, a total of 2795 head being penned. There was a small proportion of prime heavy wethers, but the bulk of the entry comprised lightweights; and a number of pens of well-finished ewes from the north. Butchers were out of supplies, and there was keen competition. As a result, the prices realised fcr all prime quality mutton showed an advance of from 2/3 per h«ad as compared with last week’s rates. Extra heavy wethers, s|d per lb; prime handyweights, 6d; extra prime ewes, sd; medium quality ewes, 4sd; aged and inferior quality, 4d; extra prime heavy-weight wethers realised from 43/- to 46/-; prime, 36/- to 41/-; medium, 32/-; light and unfinished sorts, 23/-; extra prime heavy-weight ewes realized up to 35/3; prime, 25/- to 27/-; medium, 16/- to 18/-; light and aged, 9/to 12/-. Fat Lambs.—The fat lamb entry w r as small, only about 500 head being penned. Prices were about on a par with those realised at the previous sale, if anything a shade easier. Extra heavy lambs sold on a basis of 8d to 84d; prime handy-weight, 84d to 9d; unfinished and lightweights, 8d; extra prime made up to 32/3; prime, 26/tc 29/-; medium, 23/- to 24/-. Store Cattle.—There was a large entry of store cattle, consisting mostly of cows and vealers. The demand was better than that of recent sales, and prices showed a I slight improvement. Cows suitable for canning purposes sold well, the prices realised ranging from £4 to £5 per head. Fat Pigs.—There was a large entry of pigs, all classes being represented. Competition was keen and prices were about oh a par with late rates. Best baconers realised sfd to 6|d and best porkers up to 6d to 6id per lb. A large number of small pigs were offered and these also sold at satisfactory prices. ADDINGTON STOCK MARKET. CHRISTCHURCH, May 2. There were generally smaller yardings today, and a sharp rise in both fat cattle and fat sheep. Fat lambs sold about the same.

Store Sheep.—A medium entry and excellent sale. Lambs sold about 1/6 to 2/- per head better than last week; wethers frem 2/- to 3/-, and good class ewes w’ere also better. Forward four and six-tooth halfbred wethers, 27/10; four, six and eighttooth halfbred wethers, 23/- to 25/-; inferior four, six, and eight-tooth wethers, 19/3 to 21/9; good “two, four, six and eight-tooth Romney cross ewes, 30/6; fairly good four, six and eight-tooth halfbred ewes, 28/9 to 30/- - sound and failing-mouth halfbred ewes, 25/- to 27/3; failingmouthed ewes, 12/6 to 21/6; fairly good halfbred lambs, 25/8 to 26/2; three quarter bred ewe lambs, 21/1 to 23/4; goed halfbred wether lambs, 20/- to 21/-; mixedsex iambs, 13/6 to 15/1.

Fat Lambs.—There was a yarding of nearly 3000. Values were from 9d to 9id per lb. Extra prime lambs, 31/6 to 38/-; prime, 287- to 31/-; medium, 25/- to 27/9; inferior, 20/- to 24/6.'

Fat Sheep.—Light yarding and a sharp rise of from 2/6 to 4/- per head. Prices were too high for exporters. Wether mutton, to 6|d per lb; ewe, 44d to s£d; extra prime wethers, 35/- to 38/-; few special, 40/-; prime, 31/6 to 34/6; medium, 29/3 to 31/3; light, 26/- to 29/-; extra prime ewes, 31/- to 34/-; prime, 27/6 to 30/6; medium, 24/6 to 27/3; light, 20/to 23/6; old, 16/- to 19/-.

Fat Cattle.—There was a yarding of 4”‘o, mostly medium to good. For station beef there was a sharp rise of 25/- per head; for primest beef to 30/- per hundred pounds, and for good to prime, 27/- to 28/6; medium, 24/- to 26/-; rough, 10/- to 15/-; extra prime steers, £l5 7/6; prime, £lO 10/- to £l3 10/-; medium, £7 15/- to £lO 5/-; light, £4 10/- to £7 5/-; extra prime heifers, £lO 2/6; prime, £6 5/- to £9; ordinary, £4 to £5 15/-; prime cow's, £5 10/- to £8 7/6; medium, £3 15/- to £5 5/-. Vealers.—The offering was insufficient to meet, the demand. Prices were better than at recent sales. Good runners to £5 15/-; ordinary heavy vealers, £3 5/- to £4; medium, £1 to £2 10/-; small calves, 3/- to 18/-.

Store Cattle.—A large yarding of nondescript sorts. Three-year-steers, £4 5/- to £4 17/6; two-year, £2 10/- to £2 17/6; yearling, £1 to £1 6/-; two and two and ahalf year heifers, £2 15/- to £3 5/-; yearlings, ’£l 15/- to £2; fresh cows, £1- 5/to £1 14/6; poor, 15/- to £1 2/6; bulls, £2 to £4 10/-.

Dairy Cattle.—Prices were slightly easier all round. Good second, third, and fourth calvers, just calved or close to calving, £6 10/- to £ll 10/-; extra goed, £l5; good springing heifers, £7 to £10; extra good, £l4; backward springers, £2 10/- to £3 10/-. Fat Pigs.—The demand was slack with a fall in price of both pork and bacon. Choppers, £2 7/6 to £4 8/-; light baconers, £3 to £3 10/-; heavy baconers, £3 12/6 to £4 5/-; extra heavy baconers, £4 12/-; average price per lb, 4sd to ssd; specially good to 6d; light porkers, £1 16/- to £2 2/6; heavy porkers, £2 5/- to £2 12/6; average price per lb, sid to 64d. Store Pigs.—An exceptionally large entry. Buyers were very scarce, and sales only were made when venders accepted the very low figures. Large stores, 30/-; medium stores, 20/- to 26/-; email stores, 10/- to 18/-; weaners, 2/6 to 8/-. For ordinary sorts specially good to 10/-. AUCKLAND BUTTER REDUCED. AUCKLAND, May 2. The wholesale and retail prices of butter are being reduced by twopence to-morrow, making the retail rates for superfine factory 1/9, medium 1/8, and lower grade 1/7. SUGAR REFINING COMPANY. DIVIDENDS ANNOUNCED. AUCKLAND, May 2. The following cable report in regard to the Sugar Refinery Company was received from Sydney:—A dividend in the old company of £1 per share, less Commonwealth absentee tax of 6d in pound has been declared. In addition, the liquidator cf the Fiji Company will pay on May 31, £2 per share on shares in the old company held on May 15, also on August 4 £4 per share will be paid on shares then held, thus making shares again fully paid-up to £2O. DUNEDIN SAVINGS BANK. DUNEDIN, May 2. The annual report of the Dunedin Savings Bank shows that deposits received during the year amounted to £393,389, and withdrawals £350,315. The sum of £32,166 was credited to depositers for interest and

the deposit account stands at £765,633. Interest has been allowed at the rate of 4$ per cent, for the whole year. As showing the increase in the bank’s business it was noted that in 1918 the total amount to credit of depositers was £256,895. STOCK EXCHANGES. AUCKLAND, May 2. Sales: Soldiers’ Bonds £lOl 10s; Soldiers’ Inscribed £102; New Zealand Inscribed, 1927, £97 ; Auckland City 1940, £99; Bank of New Zealand 60/-; Taupiri Coal 22/-; (pref.) 23/-; Huddart Pafker 44/-; Kauri Timber 27/6; Milne Choyce ’ Debenture Stock 24/-; Wilson’s Cement 25/6; Waihi 27/-; New Waiotahi* 1/4, 1/5, 1/6, 1/7, 1/8. CHRISTCHURCH, May 2. Sales reported: Union Bank £l4/9/(four parcels); New Zealand Insurance £l/9/3 ; New Zealand Sugar of Milk £l/12/6. BUTTER AND CHEESE. ’ Messrs Dalgety & Co., Ltd., report having received the following advice from their head office, London, under date of April 30: Butter.—Australian and New Zealand butter is 4/- to 8/- higher since our wire, but future of market is uncertain. Cheese is 6/- lower’. DOMINION’S PRODUCE. HIGH COMMISSIONER’S REPORT. I • The Department of Agriculture has received the following cablegram, dated April 28, from the High Commissioner for New Zealand, London: — MEAT.—The downward movement in prices of mutton and lamb continues. More moderate supplies cf chilled beef now on hand, but large arrivals due next week. New Zealand frozen beef not quoted. N.Z. Mutton — April 28. April 21. April 14. 49/561bs B|d Bsd-9d 57/641bs 74d-7?d 7|d-8d —— 65/721bs 6id 6d-6Ad 64d-7d 73/801bs 5d sd-s|d ssd Ewes—Nominal Under 641bs 51d sjd ‘ N.Z. Lamb— Canterbury 29/36 and 37/421bs Hid lljd ll|d 42-501bs lid Hid Second-class 10d North Isld. best 10{d Second-class 9id 9|d N.Z.Beef: Not quoted Not quoted Net quoted Chilled Beef— .

Fores 3d-3<kl 2|d-2fd 2d-2sd Hinds 5Ad-6|d 4id-sfd 44d-5d Argentine Frozen Beef— Fores 2id Hinds 5d BUTTER. —Depression continues and further decline has taken place in prices. New Zealand (salted); finest.—April 28: 138/-, 142/- up to 144/- per cwt (1/23, l/3i to l/3j per lb). April 21: 146/- to 154/- per cwt (1/3W to 1/4| per lb). April 14: 170/- to 176/- per cwt (l/6{ to 1/63 per lb). (Unsalted). —April 28: 154/- to 160/- per cwt (1/44 to 1/53 per lb). April 21: 158/- to 164/- per cwt (1/5 to 1/5| per lb). April 14: 180/- to 184/- per cwt (l/7i to 1/73 per lb). Other qualities: April 28: Salted, 132/- to 136/- per cwt (1/2-1 to 1/23 per lb). Argentine.—April 28: 126/- to 136/- per cwt (1/13 to 1/23 per lb). April 21: 136/to 146/- per cwt (1/23 to 1/33 per lb). April 14: 150/- to 164/- per cwt (1/4 to 1/53 per lb). Australian (salted); finest.—April 28: 134/- to 138/- per cwt (1/21 to 1/23 per lb). April 21: 142/- to 146/- per cwt (1/34 to 1/33 per lb). April 14: 164/- to 168/- per cwt (1/53 to 1/6 per lb). (Unsalted).—April 28: 138/- to 142/- per cwt (1/23 to 1/31 per lb). April 21: 144/- to 150/- per cwt (1/33 to 1/4 per lb). April 14“: 166/- to 170/- per cwt (1/5J to l/6i per lb). Other qualities.—April 28: Salted, 120/- to 132/- per cwt (l/0| to 1/24 per lb); unsalted, 122/- to 136/- per cwt (1/1 to 1/23 per lb). Danish.—April 28: 156/- to 160/- per cwt (1/4| to 1/5J per lb). April 21: 18J/- per cwt (1/73 per ’lb). April 14: 188/- per cwt (1/84 per lb). CHEESE.—No improvement in the market and prices have declined. New Zealand. —April 28: Coloured, 90/to 96/- per cwt (9sd to 103 d per lb); exceptional, 98/r per cwt (103 d per lb) ; white 90/- to 96/- per cwt (93d to 10{d per lb). April 21: Coloured, 102/- to 108/- per cwt (lid to 113 d per lb); white, 100/- to 106/- per cwt (103 d to Hjd per lb). April 14: Coloured, 128/- to 132/- per cwt (1/13 to 1/2 per lb); white, 124/- to 128/- per cwt (1/14 to 1/13 per lb). Australian. —April 28: Coloured, 86/- to 90/- per cwt (94d to 9|d per lb). April 21: Coloured, 90/- to 100/- per cwt (9fd to 103 d per lb); white, 92/- to 96/- per cwt (93d to 10{d per lb). April 14: Coloured, 120/- to 124/- per cwt (l/0f to 1/14 per lb); white, 120/- to 122/- per cwt (1/03 to 1/1 per lb). A shipment of New Zealand produce arrived this week per s.s. Wangaratta, while the Port Chalmers is due to-day (April 28). Shipments cf Australian from April 8 to April 17 consisted of 12,188 boxes butter and 5116 crates cheese.

HEMP.—Manila market steadier. “J” grade, after reaching £32 15/- for AprflJune shipments, sold up to £33 10/-. “G” grade April-June shipments now quoted at £35 10/- per ton. New Zealand market continues dull. Sellers quote spot highpoints, £32 10/-; fair afloat, £3l, but no business reported.

WOOL.—Sale continues satisfactorily, with strong demand and firm tone. FRUIT.—300,000 cases of Australian arrived last week, while there is also a large supply of American fruit still available. The Wangaratta has fully discharged. Some of the fruit is only in moderate condition, and brokers are finding difficulty in disposing of dessert sorts. Prices are low. Cox’s Orange, 18/- to 20/- per’ case. Only a few cases of other varieties have been sold, but the balance is expected to realise from 9/- to 10/- per case. Buyers’ hesitation is no doubt caused by the poor out-turn of Remuera shipment. Australian apples bringing from 4/6 to 7/6 per case; American similar cases. Business vervslow generally. FOREIGN EXCHANGES. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, April 30. (Received May 1, 8.45 p.m.)

Paris (fr) Par. 25.22 April 27. May 1. 68.85 68.45 Christiania (kr) 18.16 27.03 26.80 Stockholm (kr) 18.16 17.33 17.30 Copenhagen (kr) 18.16 24.67 14.90 Berlin (mark) 20.43 135,000 145,000 Rome (lire) 25.22 94 94} Calcutta (rupee) 10.00 .16 3-16 16| Yokohama (yen) 9.76 25} 25} Hongkong (dol.) — 18* 21} Montreal (dol.) 4.86 4.72} 4.72} New York (dol.) 4.86 4.63} 4.63}