COMMERCIAL

Southland Times, Issue 19546, 9 May 1925, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S TRANSACTIONS. Sales of Southland Frozen Meat Company’s shares were reported as follows at yesterday morning’s meeting of the Invercargill Stock Exchange:—(£l ord.) 33/3; (10/- paid) 16/9; (£1 pref.), 33/3. The quotations were as follows: — Bank of Australasia, b £l3 16/-. National Bank of New Zealand, b £7; s £7 2/6. Bank of New Zealand, b 55/9; s 56/6; (new issue), b 54/9. Union Bank of Australia, b £l4 5/-. Westport Coal Company, s 34/-. National Insurance Co., b 71/9, s 14J-. N.Z. Insurance Co., b 31/9. South British Insurance Co., b 46/9. Standard Insurance Company, b 41/-. Goldsbrough Mort and Co., s 47/6. Wright, Stephenson and Co., (ord.), s 29/-; (pref.), b 16/9, s 17/3. Southland Frozen Meat Co. (£1 ord.) b 33/3; (10/- paid) b 16/9; (£1 pref.), b Mosgiel Woollen Co., b £6 2/-. McLeod Bros.’ Soap, b £22 10/-; s £25. N.Z. Drug Co., b 65/-; (new issue) b 8/6. N.Z. Milk Products, b 27/3. Otago Daily Times Co., b 65/-. Wilson’s (N.Z.) Portland Cement Co., b Inscribed Stock, 1938, b £96 15/-. War Bonds, 1938, b £96 15/-; s £97. Inscribed Stock, 1939, b £96 15/-. War Bonds, 1939, b £96 15/-. Post Office Bonds, 1927, b £97 17/6. P.O. Inscribed Stock, 1927, b £97 17/6. P.O. Inscribed Stock, 1929, b £97 17/6. Soldier Settlement Loan Bonds, 5$ per cent., 1933, b £lOO 5/-. Soldier Settlement Loan Inscribed, b £lOO 5/-. WINTON STOCK SALE. THURSDAY’S SALE. At Thursday’s sale at Wintdh, there was a medium yarding of cattle offering, consisting mostly of aged cows. Some pens of good steers sold at very satisfactory prices. Values were slightly firmer in fat sheep, most of the lambs being nicely finished. The store section, which was composed largely of aged ewes, wether hoggets and a few pens of good forward wethers, brought price quite on par with those at present ruling. Following are the sales: — Dalgety and Co.: Sheep.—7o forward lambs 33/4, 65 f.m. ewes 21/3. National Mortgage and Co.: Cattle.— Cows, 2 at £4 7/6, £2 15/-, 2 at £2, £2 10/-, . £1 10/-, 7 steers £4 6/-, heifers, 5 at £2 12/-, £4. Fat Sheep.—ll ewes 37/11, 10 do. 38/-, 10 do. 35/-, 3 lambs 41/-, 8 do. 38/3, 22 do. 35/1, 41 do. 35/6, 40 do. 35/5. Store Sheep.—64 m.s. lambs 30/6, 113 do. 28/-, 175 do. 30/-, 20 do. 24/10, 17 wether lambs 28/7, 151 do 24/6, 216 ewe lambs 34/11, 15 f.f. ewes 11/3, 27 do. 20/-, .32 do. 22/7,’ 73 - wethers 27/1, 213 ms. lambs 28/-. Wright, Stephenson and Co: Cattle.— Cows £2, £2 10/-, £3, 4 heifers 14/-, 1 do. 15/-, 2 do. £l, 6 steers £3 2/6, 2 cows coming to profit £3, empty cow £1 16/-, 2 do. 15/-, 2 yearlings 10/-, calves 7/-. Sheep.—ss fat lambs 39/8, 256 2 and 4-th wethers 32/6, 107 f. and f.m. ewes 21/-, 57 do. 20/-, 37 f.m. ewes 8/-, 18 2-th ewes 46/-, 39 ms. lambs 30/10, 114 lambs 26/7, 64 do. 24/1, 56 do. 33/7, 34 f.m. ewes 17/10, pen of ewes 40/-, 44 do. 25/6, 60 B.L. ewe lambs 37/6. Southland Farmers’ Co-op. Association: Cattle.—Bulls £3 12/6, £4 12/6. cows £2 17/6, £1 10/-, £l, £3 2/6, £l, £3, 2 do. £2 5/-, 3 do. £1 8/-, 2 do. £2, 10 do. £3 2/6, 2 do. £1 10/-, 2 do. £1 12/6, *4 do. £2 10/-, 2 do. £l, 3 do. £1 10/-, 1 fat cow £6 7/6, 1 fat heifer £7, springing heifers £3, £3 10/-, £1 10/-, £1 5/-, steers £2, £3, 2 do. £4 15/-, bullocks £5 7/6, £9, 1 Jersey heifer £4 5/-, calves £1 <2/6, 10/-. Fat Sheep.— 48 lambs 39/-, 80 do.-. 377%, 119 do. 34/5, 119 do. 36/10, 84 do. 35/6, 69 do. 35/-, 70 do. 39/-, 155 do. 35/-, 31 do. 36/10, 74 do. 35/11, 46 36/10, 68 do. 37/4, 44 do. 36/5, 50 do. 36/6, 4 do. 36/8, 59 do. 37/4, 46 do. 36/1, 1 do. 36/6, 1 do. 38/-, 18 wethers 38/7, 1 do. 41/-, 16 do. 46/3, 5 ewes 27/-, 3 do. 35/6, 44 do. 29/-, 42 do. 25/4, 56 do. 40/-, 12 do. 27/4. Store Sheep.—33 f.f. ewes 20/11, 44 do. 15/-, 20 do. 19/8, 34 do. 21/6, 45 do. 2s/11, 35 do. 20/3, 38 do. 20/2, 184 ewes 24/-, 83 do. 19/2, 44 do. 23/3, 31 do. 16/1, 20 do. 11/4, 46 do. 19/-, 84 do. 15/7, 19 cull ewes 8/6, 37 2-th ewes 35/5, 62 cull lambs 16/-, 61 do. 12/9, 3 lambs 25/8, 7 do. 32/1, 13 do. 22/1, 15 do. 22/1, 63 ewe lambs 33/1, 199 wetber lambs 32/5, 142 do. 31/1, 22 do. 27/-, 16 m.s. lambs 29/9, 22 do. 16/-, 10 do. 24/8, 20 do. 23/3, 22 do. 24/1, 36 2-th wethers 34/-. The New Zealand Loan, in conjunction with N.M. and A. Co., sold as follows: 198 wethers 38/2, 50 do. 38/3, 49 do. 36/1, 114 do. 39/1. 73 do. 37/1, 29 do. 36/7, 157 do. 37/11. MATAURA STOCK SALE. THURSDAY’S MARKET. The monthly sale was held at the Mataura yards on Thursday, when there was a good attendance of farmers and dealers. The yarding comprised over 2000 sheep and 90 head of cattle. The sheep market remained firm at recent values, and practically everything was' sold. Fat wethers changed hands at from 35s 6d to 39s 3d, the latter price being obtained by the National Mortgage and Agency Co. l7 wethers sold on account of Mr Finlay McKay, “Reay,” Mataura, to Mr W. Lee, Invercargill. Fat ewes were not numerous, but sales were made at from 20s to 30s, the latter price being paid for a single animal of good quality. A pen of fat lambs changed hands at 355. A good many store lambs were on offer, and recent prices were well maintained. Good forward store lambs made 31s to 35s 3d, the best price being secured by Dalgety and Co. Ltd., for a line of 127 nice forward sorts sold for Mr A. Kingston, Brydone, to Mr H. McQuillan, Mataura. The only lot of sounarniouth ewes forward realised 34s 9d. A fair number of full and failing ewes were on offer, and sales were made of good-conditioned sorts at from 20s to 27s 9d, aged culls bringing from Ils to 17s Bd. A number of rams were sold at from 5s to 21s. The cattle market was fairly good for young sorts, but aged stuff was harder to quit. Fat steers of medium quality realised from £5 10s to £8 15s, a very nice fat heifer changed hands at £6 17s 6d, and medium cows went for £3 15s to £5 7s 6d, and aged cows from 19s to £2 16s. Factory cows and heifers were on offer, cows making £2 to £3 15s, and heifers £1 10s to £3. Bulls made up to £2 15s. The following business was transacted. National Mortgage and Agency Co. Ltd.: Three pigs 27s to 30s, 46 fat 2-tooth wethers 365, 14 fat ewes 20s, 17 fat wethers 39s 3d, 30 fat and forward 2 and 4-tooth wethers 33s 9d, 39 fat and forward ewes 21s 6d, 5 fat wethers 35s 6d, 36 store lambs 235, 3 ewes 12s 3d, 30 m.s. lambs 24s 9d, 50 f. and f. ewes 21s Id, 18 do. 12s, 39 ms. lambs 25s 6d, 50 f. and f. ewes 245, 33 sound-mouth ewes 34s 9d, 112 m.s. lambs 28s Bd, 61 ms. lambs 29s 6d, 87 full-mouth ewes 27s 9d, 25 f. and f. ewes 25s 3d, 66 store lambs 27s 4d, 80 do. 30s 3d, 80 do. 28s Id, 86 f. and f. ewes 23s 9d, 80 m.s. lambs 29s 7d, 80 do. 295, 84 do. 31s, 115 f. and f. ewes 20s sd, 70 do. 26s 6d, 2 steers £3, fat steer £B, fat cow £2 16s, 2 aged cows £1 15s, fat steer £8 15s, bull £2 15s, 2 aged cows £1 9s, 4 factory heifers £1 14s, 1 factory cow £2, empty cow £1 7s, heifer 16s, factory cow £2 15s 6d, aged cow £l, factory cow £3 15s, 2 empty cows £1 4s, 6 aged cows £2 9s, 3 heifers in calf £1 10s. Southland Farmers’ Co-operative As sociation, Ltd.: Two rams ss, 5 do. 7s, 5 fat lambs 355, 1 ram 21s, 2 do. Ils, 3 ewes 18s 6d, 6 ewes Ils, 4 rams Bs, 72 ewes 17s 3d, 76 lambs 28s 6d, 18 f. and f. ewes 20s, fat cows £4 7£ 6d. £4. £3 15s, 2

£5 10s, heifer £1 10s, aged cow 19s, 3 heifers (winter calvere) £3. Passed in: Fat heifer £3 ss, cow in milk £2 17a 6d, 4 cows (winter calvere) £5, 5 factory heifers £1 6s, 4 aged cows 12s 6d. New Zealand Loan and Mercantile Agency Co. Ltd.: 1 cow £1 2s, bull £1 13s. Passed in: Six empty heifers £1 ss, 6 do. 13s, 6 do. 12s. Dalgety and Co. Ltd.: Five fat wethers 37s 6d, 20 ewes 17s Bd, 19 fat and forward wethers 365, 170 wether lambs 27s 2d, 127 forward lambs 35s Id. Wright, Stephenson and Co. Ltd.: Fat ewe 30s, 26 f. and f. ewes Ils 6d, 57 do. 15s 3d. CANTERBURY MARKETS. GUARANTEED PRICE FOR WHEAT. CHRISTCHURCH, May 8. Wheat is dominating attention in the grain and produce trade. The meeting at Ashburton on Thursday brought the two parties much closer together, and there is a general feeling that, as a result of their deliberations in a workable schema a guaranteed payable price for wheat, at least for next season has been evolved. The price agreed upon, subject to other aspects which have to be submitted to the Minister, is understood to be two or three pence per bushel less than the arranged price for this season’s wheat. Wheat is being offered freely at the arranged prices of 6/8 to 7/-. Fowl wheat is quoted at slightly easier rates. Oats are firm, but there is little movement, business being very dull, and they are worth up to 4/6, f.0.b., s.i., and B’s 4/1, equal to 3/9 and 3/3 respectively. In spite of the abundance of oats, there is difficulty in securing supplies. There has been a little inquiry for peas, quotations are 5/- on trucks. White clover has taken an upward turn, and buyers are paying up to 1/3 ,and in cases 1/4, for best samples. These prices, however, are for superfine stuff, and the average quality is quoted from 1/- to 1/2. Previous reports of a short average are being confirmed, and in addition the quality of the seed is generally below standard. Red clover is being offered sparingly, but machine-dressed from Blenheim has been sold at 1/- lb, equal to 9d to growers. There is no change in Cocksfoot, farmers’ odd lines coming in at 6d to 64d. Perennial Ryegrass is quoted at 5/3, f.o.b. for machine-dressed, equal to 3/6 to 3/10, on trucks. Dogstail is meeting with a dull market. Machine-dressed export qualities is quoted in the South at 1/- to 1/1. Chewing’s Fescue has fallen from its high estate, and offers of 54d per lb for machinedressed have been made. America as the outlet for fescue seems to have disappeared, in the meantime at all events. The potato market is weaker. Farmers i are now being offered £3 5/- to £3 10/-, I on trucks, but no.business worth speaking of is taking place at the prices. TIMARU MARKETS. PREVAILING CONDITIONS. TIMARU, May 7. Generally speaking, business has been fairly brisk in the local grain and produce markets during the past week, especially in wheat. The tone of the other markets is dull and "business in linseed and oats is not as bright as might be expected. There is little movement in prices and merchants are not inclined to speculate. Wheat is going through steadily at the fixed prices, the majority of the growers being satisfied to accept the ruling rates. Fowl wheat is not quite up to last week’s level and there is a tendency amongst some merchants to sell at low money. The price to growers is 6/7 f.o.b. Oats have been inclined to become a little dearer during the week, principally through many over-sellers requiring to cover. The present quotation for B grade is 4/2, and A grade 4/6, equal to 3/6 and 3/10 on trucks respectively. Light and undergrade samples are hard to place, even at a low figure. Good heavy dark Duns are wanted, but are not offering freely. Partridge peas are still dull, prices to growers being 4/6 to 5/-, according to quality. Good bright chaff is wanted at about £4 5/- on trucks. Undergrade stuff is quoted at about £3 15/-. Linseed is going into consumption steadily at about £l7 on trucks. Auckland is the principal buyer and this appears to be the maximum price they can afford to pay for supplies. Grass seeds are generally quiet with little demand. Odd lots continue to be offered by growers, but merchants are not much interested. Red clover should be on the market shortly, but so far no supplies have been seen. Wet weather checked the potato digging to some extent during the week, but as far as this district was concerned no damage was done to crops. Ample supplies continue to come forward and present quotations are £4 on trucks for whites, £3 15/for Dakotas and about £3 5/- for Reds. BUTTER AND CHEESE. THE LONDON MARKETS. LONDON, May 7. Butter is quiet, but steady. New Zealand choicest salted is at from 170/- to 172/-. exceptional 174/-; unsalted 172/- to 176/-; Australian 160/- to 162/-; unsalted 162/- to 166/-. Cheese is dull. New Zealand coloured is at 95/7, white 96/-; Australian coloured 92/-. DAIRY PRODUCE. THE LONDON MARKET. Messrs Dalgety and Company, Limited, report having received the following advice from their Head Office, London:— Butter: Fair inquiry. We quote—New Zealand 172/-, New Zealand exceptional brands 174/-; Danish 186/-; Finest Australian, salted 163/-, unsalted 164/-, only commands 2/- premium at present. Cheese is weak. We quote New Zealand white and coloured 95/- to 96/-. FROZEN MEAT. Messrs Dalgety and Company, Limited, report having received the following advice from their Head Office, London, under date of May 8: Quotation N.Z. prime crossbred lambs, Canterbury heavy lid, light 12d; North Island heavy IOAd, light lb}d. Demand for N.Z. lamb runs principally on light weights. Quotation N.Z. prime crossbred mutton, Canterbury heavy 9d, light 9{d. North Island heavy Bfd, light 9d. Demand for N.Z. mutton is for light weights. Quotation N.Z. prime ox beef, hinds 5Jd, fores 4Jd. Demand for N.Z. beef poor. Market for N.Z. beef weaker. Market for heavy lamb is weak. Market for light lamb is firm. Market for heavy mutton is weak. Market for light mutton is firm. WOOL MARKET. LONDON SALES. Messrs Murray Roberts aud Co., Ltd., are to-day is receipt of the following cable advice from their London agents, dated sth inst., reading as follows: Sales have opened. Large attendance of buyers. Bad competition—heavy withdrawals. Merino, poor selection offered, declined 15 per cent. Fine crossbred, greasy declined 25 per cent. Medium and coarse crossbred, greasy declined 30 per cent. Crossbred, scoured declined 20 per cent, to 25 per cent. AUSTRALIAN MARKETS. MELBOURNE, May 8. Oats: Milling 2/10 to 3/-; feed 2/8 to 2/9; barley, English to 5/6, cape 4/- to 4/6; potatoes £6 10/- to £4 10/-; onions £l2 to £l4.

THE SHAREMARKET. (Per United Press Association.) DUNEDIN, May 8. Sales reported: Otago Daily Times 70/-; Kawarau 18/6; Huddart-'Parker (pref.), 20/6; New Zealand Refrigerating (cont.), 10/2; New Zealand Breweries 38/3; New Zealand Breweries Debentures 22/-. AUCKLAND, May 8. Sales on ’Change: Bank of Australasia £l4; Bank of New Zealand 56/3; Taupiri Coal 18/6; Auckland Gas (cont.), 4/9; Northern Steam 15/3; Breweries 38/3; New Zealand Refrigerating (cont.) 10/-; Wilson’s Cement, 33/-; Waihi 26/-. CHRISTCHURCIi, May 8. Sales reported: National Bank of New Zealand £7 1/-; Bank of New Zealand (new) 55/-; Huddart-Parker (ord.), 44/3; Bank of New Zealand (old) 56/-.