COMMERCIAL

Southland Times, Issue 19829, 27 March 1926, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At a meeting of the Invercargill Stock Exchange held yesterday morning the following quotations were made:— Commercial Bank, b 29/10. National Bank of New Zealand, b £6 14/-. Bank of New Zealand, b 60/3; s 60/9. Union Bank of Australia, b £l4 18/-. Westport Coal, b 35/-; e 36/-. Westport-Stockton, b 2/4; s 2/6. Westport Stockton, (non. cum. pref.), b 2/6. National Insurance, b 78/9. New Zealand Insurance, b 38/9. South British Insurance, b 57/3; s 58/6. Standard Insurance, b 49/6. Dalgety and Co., b £l5 10/-. Goldsbrough Mort, and Co., b 47/6. National Mortgage, s 78/-. New Zealand and River Plate, b 21/6. Perpetual Trustees (Dunedin), b 50/-. Canterbury Frozen Meat, b £10; s £ll 5/-. New Zealand Refrigerating (20/-), s 17/9. New Zealand Refrigerating (10/- paid), b 8/1; s 8/4. Southland Frozen Meat (£1 ord.), b 33/-. Southland Frozen Meat (10/- ord.), b 16/6. Southland Frozen Meat (£1 pref.), b 33/-. Kawarau Gold, b 6/-. Bruce Woollen Mills, b 21/-; s 23/-. Kaiapoi Woollen Mills (ord.), s 10/6. Mosgiel Woollen Mills, b £5 17/6; s £6 2/-. D.I.C. (pref.), b 20/3. Dominion Rubber Co., b 56/9; s 58/9. Greater Lyceum, b 2/6. McLeod Bros.’ Soap, b £22 10/-. Milburn Lime and Cement, s 33/-. New Zealand Drug, b 67/-; s 68/-. New Zealand Express (ord.), b 22/-. New Zealand Express (pref.), b 17/-. New Zealand Hardware (ord.), b 10/9. New Zealand Milk Products, b 30/-; s 32/6. New Zealand Paper Mills, b 21/3. Otago Daily Times, b 82/-; s 84/-. Wilson’s (N.Z.) Portland Cement, s 26/6. War Bonds (1930), b £96 10/-. Inscribed Stock (1938), b £96. War Bonds (1938), b £96. Inscribed Stock (1939), b £96. War Bonds (1939), b £96. P.O. Bonds (1927), b £97 15/-. P.O. Inscribed Stock (1929), b £97 15/-. Soldier Settlement Loan Bonds (1933), b £99 10/-. Soldier Settlement Loan Inscribed,

WYNDHAM SALE. Messrs Hunter Bros, and Rice report:— Sheep:—A large yarding forward”consisting mostly of breeding ewes with a fair percentage of good young ewes, and prices for these were good, while all other classes sold well. Hoggets were also keenly inquired for and we were successful in quitting our entire yarding of 3034 sheep as under:— Fat Lambs: 25 at 24/9, 10 at 24/6, and 12 at 24/-. Fat Ewes: 13 at 14/3, 19 at 15/6. Sound-mouth Ewes: 204 at 35/4, 85 at 33/6, 95 at 22/6. Four and six-tooth Ewes: 174 at 32/3. F. and F.M. Ewes: 33 at 23/6, 76 at 24/-, 16 at 22/6, 56 at 20/-, 56 at 17/6, 54 at 17/5, 39 at 17/2, 46 at 16/6, 70 at 15/9, 61 at 14/6, 120 at 14/5, 49 at 13/6, 101 at 13/6, 99 at 14/-, 7 at 12/-, 24 at 11/3, 60 at 13/-, 38 at 10/6, 119 at 6/8, 13 at 5/6.

Store Lambs: 78 ewe lambs at 25/-; 13 lambs at 21/-, 11 at 22/-, 3 at 18/-, 4 at 16/-, 2 at 9/6. t F.M. Ewes: 227 at 13/6, 150 at 15/7. Two-tooth Ewes: 57 at 34/1, 52 at 34/-, 150 at 33/-. , One ram £2 2/-. ) Pigs.—Two at 14/-, 2 at 10/-, 2 at 8/-. i Messrs Henderson and Co., Ltd., report:— f Large attendance of buyers, large yarding of sheep and small yarding of cattle. 1 The sheep consisted mostly of local aged ' ewes, although there were a fair number of 1 young breeding ewes yarded, which met * with sales equal to anything quoted from other centres. The older sorts met with a ready sale at prices on a par with ’ late rates. Practically the whole of the 1 yarding was cleared at auction. ’ Cattle sold at prices equal to recent sales. We penned 4067 sheep and cleared our r entire entry, excepting four lots as follows: , Sheep: 235 4-th ewes at 38/-, 257 6-th ' do. at 35/6, 235 s.m. ewes at 35/1, 202 do. at 29/-. 86 do. at 24/6, 33 2 and 4-th L ewes at 26/3, 222 f. and f.m. ewes at 24/3, 197 f.m. ewes at 17/-, 65 do. at 16/9, 50 do. at 15/9, 38 do. at 15/3, 109 do. at , 14/6, 113 do. at 14/3, 189 do. at 14/-, 75 ( do. at 13/6, 48 do. at 13/-, 195 do. at , 11/7, 51 do. at 11/6, 42 do. at 10/-; 53 ■ fat ewes at 15/9, 12 do. at 14/9; 2 fat wethers at 27/-, 14 2-th wethers at 26/-, 41 do. at 24/3, 37 do. at 23/3; 3 fat lambs at 26/6, 5 do. at 25/9, 48 do. at 23/-; 98 forward lambs at 22/9, 133 do. at 20/5, 55 do. at 18/-; 161 store lambs at 15/1; 3 Romney rams at sgns, 1 Border Leicester ram at sgns, 1 do. at 4igns, 3 do. at 3gns. Cattle: Two fat cows at £7 17/6, 1 do. at £5 10/-, 4 do. at £5 2/6, 1 do. at £5, 1 do. at £4, 1 store cow at £1 10/-, 1 fat heifer at £4, 2 do. at £3 2/6, 1 steer at £7 10/-, 1 do. at £5 2/6, 1 bull at £4 10/-, 1 do. at £2 5/-, 1 do. at £l, 1 calf at £2. The National Mortgage and Agency Co., Ltd., report:— A large entry of over 10,000 sheep was yarded. A fair portion was good, young ewes, and these sold at high prices with ; keen competition. Old ewes were up to late sales. Fat sheen and lambs showed no change, but the sale of the lambs was better than last sale. We sold:—3o fat lambs at 26/6, 10 do. at 24/3; 28 f. and f.m. ewes at 20/-, 21 do. at 15/6, 360 do. at 18/6, 101 do. at 12/1, 59 do. at 20/-, 60 do. at 20/-, 56 do. at 14/1, 56 do. at 13/7, 100 do. at 16/6, 140 } do. at 16/-, 172 do. at 13/-, 122 do. at 20/4, 80 do. at 15/3, 15 do. 13/10, 107 I do. at 14/6, 74 do. at 16/3; 30 m.s. lambs at 23/6, 98 do. 18/11, 95 do. 25/-; 107 small do. 13/7; 15 wethers 22/6; 70 2-th i ewes 35/7, 109 do. 35/6, 57 4-th ewes 35/1. ! Also a number of Romney and Border Leicester rams at 4}gns to s|gns. Cattle consisted of a good entry and met I with a good demand. We sold:—27 steers at £9 15/-, 28 do. at £8 7/-, 35 do. £7 1/-, 9 do. at £4 6/-, 12 do at £7 10/-. Messrs Wright, Stephenson and Co., Ltd., report a good yarding of sheep at the Wyndham stock sale, the biggest portion of which was comprised of breeding ews. AU prices showed evidence of a rising market. We sold:—29 fat ewes 15/6, 15 do. 15/-; 19 fat wethers 24/3, 2 do. 28/9; 192 f.m. ewes 24/3; 91 f. and f. ewes 16/4, 48 do. 12/7, 74 do. 16/-, 218 do. 13/1, 100 do. 15/-; 191 lambs 22/-; 84 m.s. lambs 16/2; 52 2,4, 6, 8-th ews 29/3; 64 4,6, 8-th ewes 29/7; 42 s.m. ewes 28/11; 21 2-th ewes 36/8. Cattle:—l cow £7 5/-; 4 cows £7 2/6; 2 cows £7; 1 cow £2; 1 cow £2 5/-. STOCK SALE AT TUATAPERE. (From Our Correspondent.) There were big yardings, particularly in sheep, for the sale conducted by InvercargiU Stock Agents on Thursday. The following were the ruling prices:— Sheep: Failing mouth ewes 15/9; 4 and 6-tooth ewes 25/6; 2-th ewes 31/5; breeding ewes up to 22/2; store lambs 17/7, 19/9, 20/-, 21/1 and 21/9. Bullocks (good forward for turnips) : i £6, £B, £9 15/-, and £ll 8/-, according to ( size. Two-year-olds £4 16/-; smaUer steers < £3 3/-; heifers £1 17/6 to £2 5/-; calves ■ (yearlings), £1 17/6; fat heifers and cows i £5 10/-, £6 10/- and £7 10/-. J PRICE OF GOLD. J ( (Rec. 5.5 p.m.) London, Mar. 25. 1 The price of gold is quoted at 84/11} 1 per ounce. 1

WAI KAKA STOCK SALE. A KEEN SALE. GOOD SHEEP PRICES. (From Our Correspondent. Yesterday’s stock sale at Waikaka was one of the largest that have been held in the yards for some two or three years, and the majority of the district breeders had their annual drafts of sheep forward. Approximately 7000 sheep were offered, accommodation for some lines having to be found in the cattle pens. Buyers were present from as far north as Milton, while a large number of buyers from the Wyndham and Edendale districts were also present, the attendance being an unusually large one. There was a very keen demand for all classes of ewes and of the whole entries only two pens were passed-in at auction. While the great majority of the sheep forward consisted of f.m. ewes, a number of lines of young ewes were also offered, and prices of these were particularly satisfactory, representing a substantial advance on those ruling at recent sales. A line of, four, six and eight-tooth ewes sold by Messrs Wright, Stephenson and Co. on account of the Turnbull estate, Waikaka, realised 38/-, -while a similar figure was obtained for a line of 112 two-tooth ewes sold by J. E. Watson and Co. on account of Mr R. H. Gardyne, Waikaka, to Mr L. Cooney, Brydone. These were two unusually good lines which should do well for breeding purposes. Other lines of young ewes brought up to 36/3, the average price all round for young ewes being round about 33/-. Full-mouth ewes sold at up to 25/7 down to 12/6 for gunimies. There w’as not a straight line of ewe lambs offered, but mixed lines sold well at from 19/- to 24/4. Sales were as follow:

National Mortgage and Agency Co.: 87 wether lambs at 12/-; 196 f.m. ewes at 18/9; 45 f. and f.m. ewes at 16/4; 48 twotooth ewes at 31/6; 87 do. at 32/3; 2 wethers at 22/-; 280 wether lambs at 17/1; 137 f. and f.m. ewes at 15/3; 47 m.s. lambs at 23/10; 37 m.s. lambs at 19/-; 13 two-tooth wethers at 23/-; 137 f. and f.m. ewes at 22/5; 177 do. at 13/6; 160 six and eight-tooth ewes at 32/3; 41 two, four, six and eight-tooth ewes at 34/6; 87 two, four, six and eight-tooth wethers at 24/4; 26 f. and f.m. ewes at 10/3; 37 m.s. lambs at 15/6; 75 do. at 20/6; 225 f. and f.m. ewes at 18/3.

Messrs J. E. Watson and Co.: 122 f. and f.m. ewes at 22/-; 48 two-tooth ewes at 33/-; 220 wether lambs at 17/2; 65 do. at 13/-; 81 f. and f.m. ewes at 18/8; 40 m.s. lambs at 24/5; 700 f. and f.m. ewes at 15/6; 152 f. and f.m. ewes at 20/-; 112 twotooth ewes at 38/-; 45 f. and f.m. ewes at 16/-; 87 do. at 15/10; 41 do. at 13/6. Wright, Stephenson and Co.: 260, two, four, six and eight-tooth ewes at 26/8; 149 f. and f.m. ewes at 24/5; 87 four and sixtooth ewes at 34/2; 168 four, six and eighttooth ewes at 36/3; 32 four, six and eighttooth ewes at 38/1; 40 f.m. ewes at 18/9; 28 two and four-tooth wethers at 24/6; 105 f. and f.m. ewes at 12/6; 3 rams at 23/-; 66 f.m. ewes at 15/6; 40 f.m. ewes passed at 15/1; 63 f.m. ewes at 16/6; 106 f.m. ewes at 16/2; 21 two, four and sixtooth wethers at 25/9.

Southland Farmers’ Co-operative: 150 f.m. ewes at 16/3; 106 f.m. ewes at 25/9; | 20 f.m. ewes at 18/6; 43 do. at 14/6; 160 do. passed at 21/-; 65 two-tooth ewes at 35/-; 145 f.m. ewes at 18/7; 75 wether lambs at 23/6; 62 two-tooth ewes at 32/7; 132 f.m. ewes (including 32 four and sixj tooths), at 28/3; 122 four, six and eight- ■ tooth ewes at 29/9; 81 two-tooth wethers at 25/-; 35 f. and f.m. ewes at 17/-; 19 f. and f.m. ewes at 17/1; 56 two, four, six and eight-tooth ewes at 28/-; 100 f.m. ewes at 18/8; 92 f.m. ewes at 16/6; 45 do. at 14/-; 172 wether lambs at 21/3. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. Auckland, Mar. 26. Sales on ’Change: War Loans (1938), £96 10/-; Bank of New Zealand 60/3 (two sales); Bycroft Ltd., 28/6; Milne and Choyce (debenture stock) 25/6; Kawarau 6/-; New Waiotahi (cont.) 8d and 9d; Waihi 23/1. Wellingtwi, Mar. 26. Sales on ’Change: Bank of New Zealand £3 0/3; New Zealand Guarantee Corporation (ord.), 9/10 cum. div. Christchurch, Mar. 26. Sales reported: National Bank of New i Zealand £6 14/6; Union Bank £l4 19/-; National Insurance 79/-; New Zealand Breweries 58/6 Westport Coal 35/5; Christchurch Gas 23/9; Electro Zinc (pref.) 36/-; (2) 36/3. Sales on ’Change: Wilson’s Cement 35/3; Mason Struthers (£1 ord.) 21/10. Dunedin, Mar. 26. Sales on ’Change: New Zealand Breweries’ Debentures 26/-; Kawarau 6/- (two sales); St Bathans (A issue) 7/3. LONDON WOOL SALES. (Rec. 5.5 p.m.) London, Mar. 25. The wool sales closed with a tone of cheerful confidence. Competition throughout was satisfactory and widespread, except from the United States, which only took about 1500 bales. . Compared with January closing prices Merinos and greasy were at par to 5 per cent, advance. Scoured were difficult to sell and many were withdrawn owing to high reserves. Crossbreds finest w-ere at 5 per cent, advance, while all other grades were slightly easier. Lambs and crossbreds slightly dearer, and Merinos irregular and occasionally in buyers’ favour. New Zealand brands, Waiere 16d to 15d; Brooklands 16d to 14fd. The Bradford market was slow and business was difficult. Topmakers’ quotations were firm and crossbreds a shade easier. LONDON MARKETS.

DAIRY PRODUCE. j Messrs Dalgety and Co., Ltd., report havI ing received the foUowing advice from their head office, London, under date of the 25th instant:— i “Butter market is firm. Danish 192/-; ■ New Zealand exceptional 176/-; New Zealand finest 174/-; Australian finest unsalted 173/-, salted 172/-. Cheese market is slow. ! New Zealand coloured 98/-, white 97/-.” NEW YORK STOCK EXCHANGE. STOCKS STILL FALLING. (Rec. 9.5 p.m.) New York, Mar. 25. “Bears” were always one jump ahead of the “bulls” on the stock exchange to-dajf, with the result that selling went at an urgent rate during the opening hours, several stocks being forced to new low levels for the year, but it was scarcely a complete rout for the “bullish” interests, for whenever the selling interests attacked one group buying support came to the rescue, by which time “bearish” speculators were devoting attention to another group. Motor stocks began to recuperate later, but railroad equipments and public utilities fared badly. The market generally was lower and unsettled.—A. & N.Z. FOREIGN EXCHANGE RATES.

London, Mar. 25. The exchange rates are as follows:— Feb. 11. Mar. 25. Paris, fr to * £1 125.75 139.00 Brussels, fr to £1 106.95 121.05 Oslo, kr to £1 .. 23.85 22.72 Copenhagen, kr to £1 19.58 18.54 Stockholm, kr to £1 18.10 18.12 Berlin, reichmkn to ii 29.38 20.43 Montreal, dol. to £1 4.85$ 4.874 New York, dol. to ii 4.85$ 4.86 3-16 Rome, lire to £1 120.12 120.82 Yokohama, st to yen 2U 22$ Calcutta, st to rupee 18 5-32 18 Hongkong, st to dol. 28$ 27$ Amsterdam, gldr to ii 12.064 12.13J Batavia, guilder to £1 11.99 12.11$