COMMERCIAL

Southland Times, Issue 20012, 28 October 1926, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. A meeting of the Invercargill Stock Exchange was held yesterday morning when the following sales were reported:— Southland Frozen Meat (£1 ord.), 32/6 (4 sales). Southland Frozen Meat (10/- ord.), 16/3 (3 sales). Southland Frozen Meat (£1 pref.), 32/6 (3 sales). New Zealand Paper Mills, 18/10. The following quotations were also made: National Bank of New Zealand, s £7 1/-. Bank of New South Wales, b £45; s £45 5/-. Bank of New Zealand, b 60/-. Westport Coal Co., b 37/6. Westport-Stockton (ord.), s 2/1. Westport-Stockton (non-cum. pref.), b 2/3. National Insurance Co., s 80/6. New Zealand Insurance Co., b 40/-; s 41/-. South British Insurance, s 61/-. Dalgety and Co., Ltd., b £l6. Goldsbrough Mort and Co., b 50/3; s 50/9. New Zealand and River Plate, b 22/6. Perpetual Trustees (Dunedin), b 60/-. Wright, Stephenson and Co. (ord.), s 25/-. New Zealand Refrigerating Co. (20/-), b 14/-; s 15/3. New Zealand Refrigerating Co. (10/paid), b 6/2; s 6/4. Southland Frozen Meat (£1 ord.), b 32/6. Southland Frozen Meat (10/- ord.), b 16/3. Southland Frozen Meat (£1 pref.), b 32/6. Kawarau Gold Mining, b 2/7; s 2/8. Electrolytic Zinc (pre!.), s 37/6. Electrolytic Zinc (ord.), s 37/-. D.I.C. (ord.), b 8/6 premium.) D.I.C. (pref.), b 21/-. Colonial Sugar Co., b £54 10/-. Dominion Rubber Co., b 50/-; s 51/-. Greater Lyceum, s 5/-. Milburn Lime and Cement, b 30/9. New Zealand Drug Co., s 71/-. New Zealand Express Co. (ord.), b 22/-. New Zealand Express Co. (pref.), b 17/3. New Zealand Guarantee Corporation, b 10/-; s 10/4. New Zealand Hardware (ord.), b 7/-; s 8/9. Wilson’s (N.Z.), Portland Cement, b 33/-; s 34/-. War Bonds (1930), b £97. War Bonds (1933), b £96 10/-; s £96 15/-. Soldier Settlement Loan Bonds (1933), b £lOO 5/-. Soldier Settlement Loan Inscribed, b £lOO. THE SHAREMARKET. (Per United Press Association.) Dunedin, October 27. Sales on ’Change: Kawarau 2/8; P. and 0. Deferred Stock £250. Auckland, October 27. Sales on ’Change: New Zealand Breweries 24/-; Union Bank of Australia £l5 4/-; Bank of W'estern Australia 57/9; Taupiri Coal 22/9; Auckland Gas 23/10; Electrolytic Zinc (pref.), 37/3; Milne and Choyce Debenture Stock 24/-; Wilson’s Cement 33/3; Alburnia 4/4; Kawarau 2/7; Lucky Shot (cont.), 9d; New Zealand Consolidated 1/6. Lyttelton, October 27. Sales reported: New Zealand Refrigerating (contr.), 6/6 (2 parcels); Christchurch Gas, 24/-, 24/1. Sales on ’Change: Christchurch Gas, 24/(2 parcels); Electro Zinc (pref.), 37/-. GRAIN REPORT. Messrs Donald Reid and Company, Ltd., Dunedin, report as under:— Oats: The local market is quiet. The few samples that are offering from the country are mostly undergrade quality. Nominal values are A grade 3/-, B grade 2/10, sacks extra, on trucks, country stations. Wheat: Only small lines are offering and these are mostly being accepted by millers at milling rates. Fowl wheat is quieter. We quote, milling quality to 7/6, ex store, Dunedin. Fowl wheat from 7/- to 7/3, ex store, sacks extra in each ca~e. Chaff: Good bright quality is still being inquired for by shippers, and this is helping to dispose of the bulk of offerings. The local demand is never sufficient to absorb all consignments and without the shipping, values would soon decline. We quote, extra prime quality from £5 15/- to £6, ex truck. Medium to £5, and inferior from £3 10/-, ex store, sacks extra in each case. Potatoes: Northern consignments are now arriving freely and values are inclined to ease. Northern new potatoes are also coming on the market, and this affects the sale of the old ones. Freshly picked well-graded lines meet with quick sale, but poorer quality is hard to move. We quote, best white table potatoes £5 ex truck, sacks in. BURNSIDE MARKET. LITTLE CHANGE IN PRICES. Dunedin, October 27. Prices were little changed at Bumside to-day. The most noticeable alteration in prices was in those for lambs which receded 2/-. Fat pigs advanced a few shillings and stores were a trifle firmer, but sheep and cattle were unchanged. Fat Sheep.—A penning of 1,704 of good all round quality. There were many wellfinished wethers while there was a fair sprinkling of shorn wethers. Ewes were in very short supply. A good sale throughout with prices much on a par with last week’s rates. Prime wethers 39/- to 45/6; medium 34/- to 37/6; light to 33/-; prime ewes 30/- to 36/-; others 25/- ’to 29/-; extra prime shorn wethers, which sold very well, to 33/-; medium to good 26/- to 28/- ; light 23/- to 25/-.

Lambs.—A fair yarding of 61, including odd pens of extra well-finished lambs. A number of lambs, too young for the trade, were forward, and for them there was practically no bidding. Prices were about 2/per head less than last week’s rates. Prime 37/- to 43/6; medium 28/- to 35/-; light 25/- to 27/6; extra heavy wether mutton made 6d per pound; light 6Ad; ewes sd; shorn wethers 4d; lamb 1/2 to 1/4.

Fat Cattle.—A medium sized yarding of 229, composed principally of medium to good bullocks with a fair proportion of cows and heifers. Very fat extra heavy bullocks were in the entry. Competition was moderate as a number of butchers hid supplies in hand. Prices were about equal to last sales. One extra prime bullock realised £lB 15/-. Other rates were: Prime bullocks £l5 to £l7; medium £l2 10/- to £l4 10/-; light £lO to £l2 5/-; best cows and heifers £lO to £l2; medium £7' 10/- to £9; old and inferior £5 to £7; extra prime ox beef made 42/- per 100 pounds; medium quality 38/-; heifer 35/-; cows and light heifers 25/- to 30/-.

Store Cattle.—About 200 were yarded, but only three or four pens of steers were included and these met with good 'competition and sold firm at last week’s rates. The few good cows and heifers and the rest of the entry, fair to medium with a sprinkling of old animals, also sold at par. Pigs.—A penning of 74 fate and 86 stores. Fate were in short supply and advanced from by 5/- to 7/6. The good entry o? stores met with strong inquiry and these pigs were a trifle dearer. DAIRY PRODUCE. The National Mortgage and Agency Co., Ltd, report having received the following cable from Messrs A. J. Mills and Co., Ltd: Butter.—Market quiet again, 144/- to 146/-. Cheese.—Market slightly firmer. 84/- to 85/-w

ADDINGTON MARKETS. VERY LARGE ENTRIES. Christchurch, October 27. Entries to-day at the weekly market were much larger than for some time, particularly in the fat sheep and fat lambs sections. All classes of stock dropped on the good prices of the last two sales. Store Sheep.—A very large entry for this time of the year. The sale was dragging, a hot nor’-wester being a rather restraining factor on competition. Hoggets sold fairly well, but were down by 1/- to 2/- per head. Not much more than a third of the total entry was sold at auction. Ewes and lambs sold at a drop on last week. Sound and failing-mouth halfbred ewes and lambs 19/8; aged half bred ewes with fair lambs 14/- to 14/11; aged three-quarter-bred ewes with lambs 13/- to 14/3; inferior aged ewes with lambs 10/6 to 12/8; good Corriedale ewe hoggets 37/-; good three-quarterbred ewe hoggets 35/- to 37/10; three-quarterbred ewe 3?/to 34/-; halfbred wether hoggets 22/- to 24/7; two and four-toothed halfbred wethers 26/3 to 27/11; four and six-toothed shorn wethers 21/- to 22/6; inferior two and four-toothed shorn wethers 16/9 to 20/-. Spring Lambs.—An excess entry of 715 head, compared with 290 last week. There were far too many for butchers and a drop of about 5/- per head (to the level of three weeks ago), was recorded. The average value was about lOd a lb. Prices ranged from 21/- to 33/-, the bulk from 25/- to 28/-. Fat Sheep.—An exceptionally heavy entry of 14 races, including South Canterbury and Southland sheep. A decline of about 2/- per head was averaged throughout, values, however, still being considerably better than three weeks ago. About 50 per cent, of the sheep were shorn. Extra prime wethers to 46/4; prime wethers 36/6 to 40/-; medium wethers 33/6 to 36/-; light wethers 31/- to 33/3; extra prime ewes to 36/10; prime ewes 30/- to 33/-; medium ewes 27/- to 29/6; light ewes 23/to 26/9; prime shorn wethers 30/- to 36/10; medium shorn wethers 23/6 to 28/-; prime woolly hoggets 29/6 to 34/10. Fat Cattle.—Another heavy entry of 550 head, including South Otago, Southland, South Canterbury and Chatham Islands cattle. The quality was good. Values were to 20/- per head lower for steers and from 10/- to 15/- for cows and heifers. Extra good beef made to 40/-; prime 36/- to 39/-; medium 33/- to 35/6; heavy 32/6 to 35/6; and rough down to 27/6 per 1001 b. Extra heavy bullocks to £l9 12/6; prime heavy steers £l5 to £l7 5/-; prime mediumweight steers £l3 15/- to £l6; medium quality steers £ll to £l3 5/-; light, steers £8 to £lO 10/-; extra prime heifers to £l4 12/6; prime heifers £lO 10/- to £l2 10/-; ordinary heifers £8 10/- to £lO 5/-; light heifers £5 10/- to £8; ‘extra prime cows to £l5 12/6; prime cows £9 10/- to £l2; medium cows £6 15/- to £9 5/-; light cows £4 5/- to £6 10/-. Vealers.—Poor quality and a good sale for decent calves. Runners £5 15/- to £6 10/-; best calves £5 5/- to £5 10/-; medium calves £3 to £5. Dairy Cattle.—A small entry and slightly harder prices. Best cows £8 to £9 10/-; medium £5 10/- to £7 10/-; others £3 to £5; springing heifers £4 to £8 10/-; old cows in profit 15/- to £3 5/-. Store Cattle.—Mostly cows forward. Three-year-old steers sold at £9; 18-month-old heifers to £2 2/-; fresh young cows £4 to £5; others 30/- to £3 10/-. Fat Pigs.—A medium entry. The market opened easier but hardened for baconers. Choppers £3 6/- to £5; baconers £3 15/- to £5 15/-; extra heavy to £6 5/6; average price per lb 7Ad to B{d; porkers 48/- to 72/6; average per lb BAd to 9d. Store Pigs.—A large entry and lower values. Weaners 15/- to 24/-; best to 33/-; small stores 34/- to 37/-; others 39/- to 44/-; extra good to 52/6; sows in pig to £7 2/6. RABBITSKINS. SALE AT DUNEDIN. Messrs Andrew Wilson, Ltd. report that at the rabbitskin sales held in Dunedin on Tuesday 26 instant, the prices for bucks were back 4d to 6d, does about par. EXCHANGE ON BRUSSELS. NEW CURRENCY UNITS. ’(Rec. 8.10 p.m.) London, October 26. The exchange on Brussels henceforward will be quoted in new currency unite called belgas, which are equal to five francs. To-day’s rate is 34.85 belgas to the £l. PRICE OF GOLD. (Rec. 8.10 p.m.) London, October 26 The price of gold is quoted at 84/11} per ounce.—A. & N.Z.