COMMERCIAL

Southland Times, Issue 20014, 30 October 1926, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. THREE SALES REPORTED. At yesterday’s meeting of the Invercargill Stock Exchange sales were reported as follows: E.S. and A. Bank £8 6/-; Goldsbrough Mort and Co. 51/-; N.Z. Guarantee Corporation 10/4. The following quotations were made: —- Commercial Bank, s 32/6. National Bank of New Zealand, s £7 1/-. Bank of New South Wales, b £45; s £45 5/-. Bank of New Zealand, b 59/9; s 60/3; (rights) b 6/2. Union Bank of Australia, b £l5 2/6; s £l5 5/-. Westport Coal, b 37/9; s 38/3. Goldsbrough Mort, b 51/-. Perpetual Trustee (Dunedin), b 62/-. Wright, Stephenson and Co. (pref.), s 17/-. New Zealand Refrigerating (20/-), b 14/-. New Zealand Refrigerating (10/- paid), b 6/4; s 6/9. Southland Frozen Meat (£1 ord.), b 31/6. Southland Frozen Meat (10/- ord.), b 15/9. Southland Frozen Meat (£1 pref.), b 31/6. Kawarau Gold Mining, s 2/9. Waihi Gold Mining, b 19/6; s 19/8. Electrolytic Zinc (pref.), s 73/6. Howard Smith, b 32/-. Huddart-Parker (ord.), b 47/3; s 49/-. Huddart Parker (6 per cent. cum. pref.), b 20/6. P. & O.S.N. Co. (def. stock), b £250; s £253. Union Steam Ship (pref.), b 20/3. Kaiapoi (ord.), b 11/3. Kaiapoi (cont.), b 2/6. D.I.C. (ord.), b 8/6. D.I.C. (pref.), b 21/-. Dominion Rubber b 50/-; s 51/-. McLeod Bros.’ Soap, b £23. Milburn Lime and Cement, b 30/9. New Zealand Express (ord.), b 21/-; s 22/-. New Zealand Guarantee Corporation, b 10/4. New Zealand Paper Mills, s 19/-. Otago Daily Times, b 85/-. Inscribed Stock (1938), s £96 10/-. War Bonds (1938), s £96 10/-. Inscribed Stock (1939), s £96 10/-. War Bonds (1939), s £96 10/-. Soldier Settlement Loan Bonds (1933), b £lOO 5/-. Soldiers’ Settlement Loan Inscribed, b £lOO 5/-. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, October 29. Sales on ’Change: Inscribed Stock (1938) 4$ per cent. £96 7/6; New Zealand Breweries Stock 24/-; Bank of New South Wales £45; Bank of New Zealand 60/-, (rights) 6/3; Union Bank of Australia £l5 3/-; Staples and Co., Ltd., 37/6; Electrolytic Zinc 35/9; New Zealand Refrigerating (cont.), 6/8; Taranaki Oil 8/6; Alburnia 4/3, 4/4; Kawarau 2/7; Waihi 19/7; Waihi Grand Junction 2/3. Christchurch, October 29. Sales reported: Western Australian Bank 57/3; Dalgety and Co. £l6 10/-. Sales on 'Change: Bank of New Somh Wales £45; Union Bank £l5 4/-; Westem Australian Bank 57/-. Dunedin, October 29. Sales on ’Change: Bank of New Zealand (rights) 6/2 (two); Upper Nevis 2/6 prem. (two). Sale reported: P. and 0. Deferred Stock £251. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Company, Ltd.,* report having received the following cablegram from their London house under date October 27: Butter: New Zealand choicest salted, quotation unchanged. Market firm. Cheese: White 86/-; coloured 84/-. Market firm. (Rec. 7.40 p.m.) London, October 28. Iff butter fair trade is doing and prices are steady. New Zealand choicest salted 144/- to 146/-; Australian 140/- to 144/-. The few unsalteds available make 168/- to 170/-. Danish butter sells at 181/-. Cheese is firm. New Zealand white 88/-, coloured 86/-. SHEEPSKIN SALES. (By Telegraph—Press Assn.—Copyright.) (Rec. 7.40 pan.) London, October 28. At the sheepskin sales there was a good all round selection. Americans and Continentals were the principal operators, the Home trade taking very little. Merino were par to five per cent, easier compared with the September sales. Others were dearer. Crossbreds, fine, par to five per cent, up; medium and low quality 7| to 10 per cent. Lambs, par to 5 per cent., and pelts 5 to 7$ per cent.—A. & N.Z.

CLEARING SALE AT BALFOUR. Despite the inclemency of the weather on Thursday, there was an excellent attendance at “Chartlea Park,” Balfour,. when Messrs Wright, Stephenson and Co., Ltd., held a very successful clearing sale on account of Mr W. P. Hailes, who is giving up farming. The stock and implements were in excellent order, and brought very satisfactory prices all round. The dairy cows offered were in good condition, and they created spirited competition, as also did the horses. Sales were as follow: Mare £35, do. £35, do. £3O, do. £3B, do. £2B, geldings £25, £22, £23, do. (unbroken) £l6, hack £l5, gelding £ll 10/-, filly £2O, yearling filly £l2. These last animals were unbroken. Dairy cows sold to £l2. Implements sold as follow: Binder £4O, woolpress £l4, shearing plant £l9, binder £37, discs £l3, discs (2) £3l, swamp plough £4O, d.f. plough £l3, plough £27, top dresser £23, ridger £34, drill £49 10/-, chain harrows £l2 10/-, dray and frame £39, dray £3O, broadcaster £4O. Harness and household effects, together with numerous sundries, brought full market values. EASTERN DISTRICT STOCK. BURNSIDE MARKET. Vendors of Eastern District fat stock at the Burnside market on Wednesday realised the following prices:— Fat Cattle: J. S. Fleming and Co. (Titiroa), bullocks £l4 5/- and £l3 10/-, heifers £l2, £8 10/-, £8 ,7/6 and cows £8 10/-; G. Scott (Pukerau), cow £l2 5/-, heifer £lO 5/-; M. Scott (’Koi), cow £9 15/-; J. Duncan (Lumsden), bullocks £l6 2/6, £l5 2/6, £l3 15/- and £l2 15/-; Findlay brothers (Edendale), bullocks £l5 2/6, £l5, £l3 2/6, £ll 17/6, and heifer £l4 17/6; H. Eden (Mataura), bullocks £l2 15/-, £ll 17/6, £ll 10/-, £ll and heifers £7 12/6; A. H. Hiddlestone (Edendale), cows £9 7/6, £9, £8 10/-, £B, £7 10/-, £7 5/-, £7 2/6, £7, £6 10/- and £6 2/6; Robert Wyber (Mataura), bullocks £l4 17/6, £l3 10/- and £l2 7/6. Fat Sheep: G. and J. Cumming (Arthurton), wethers 45/3, 40/9, ewes 35/9 and 33/-; M. Stark (’Koi), wethers 43/-, 42/3, 39/6, 37/6 and 37/3; J. Burnett (’Koi), wethers 41/- and 40/-; Stark brothers (’Koi), wethers 43/-, 37/3 and 36/-; Haugh brothers (Crookston), wethers'4o/9, ewes 34/6; R. Haugh (Crookston), wethers 37/-, ewes 37/- and 32/-; W. Black (Clinton), wethers 44/3, 39/-, 36/6 and 34/9; J. F. Harris (Moa Flat), wethers 40/9 and 37/6, ewes 34/6 and 33/6; H. P. Mclntyre (Maitland), wethers (shorn) 32/3, 29/3, 27/6 and 27/3; J. Burnett (’Koi), wethers 43/9, 42/3, 40/6 and 40/-; F. Ussher (Kelso), wethers 37/9, 35/-, 33/6, ewes 31/9 and 30/6; A. Robertson (’Koi), shorn wethers 33/-, 32/3, 28/6, ewes 25/-; M. Stark (’Koi), wethers 43/9 and 37/3; A. McKinnon (Gore), wethers 41/6, 40/-, 39/3 and 37/9; P. Crawford (Pom-haka), wethers 44/3, 41/3, 39/- and 37/-; W. Sutherland (Clinton), wethers 37/6, 36/3, 35/9, ewes 32/9; W. Taylor (Clinton), wethers (shorn) 27/- and 25/9. CANTERBURY MARKETS. POTATO PRICES DOWN. Christchurch, October 29. Potatoes are down again in price, practically all requirements having been filled. Although the season is now nearly finished quantities are still offering, but it is very difficult to dispose of them. No business can now be expected from Australia, but small quantities are still being forwarded to Auckland. The Kurow will leave for the northern city to-morrow with a small consignment. The supply of new potatoes from Auckland and Hutt Valley is improving, the local price now being 41b for 1/-. About 40/- per ton is now the limit of what can be obtained at country stations for old potatoes. The grain and seeds market is particularly dull just now. Inquiries are being received from various parts of the Dominion for cocksfoot but not a great deal of business is being done. Prospective buyers will have to come on the market soon, merchants regarding the inquiries as a sign that they will be obliged by necessity to buy at an early date. White clover is firm at recent rates, 9/- to 11/- to farmers. There is also a certain demand for perennial ryegrass, some of the inquiries still coming from Europe. Very few deals are being made however. Italian ryegrass is in over supply and stocks held in New Zealand are sufficient for the next twelve months without the new crop. The value on trucks for farmers seed is 2/-. No movement is reported in cowgrass, but remains at from 8d to 9d. A few sales of partridge peas to London for delivery next harvest have been made lately. English buyers have eased off on their quotations and business is now difficult to put through. Practically none of last year’s wheat harvest is now left, the few odd lots which are being purchased realising 7/- a bushel to farmers on trucks at country stations. A large area of wheat has been sown and it may be said that white cereals are looking exceptionally well. Small lots of chaff are being bought at from £5 10/- to £6, according to quality, at country stations. GRAIN AND PRODUCE REPORT. Messrs Dalgety and Co., Ltd., Dunedin, report as follows: Oats.—There is nothing fresh fo report on this market. No outside demand is being experienced resulting in business being practically at a standstill. It appears, however, that the quantity of oats held by growers is not large as very few samples are coming to hand. We quote: A Gartons 3/-: B Gartons 2/10 per bushel, on trucks. Wheat.—There is little business being done in this cereal, due to the fact that no milling wheat is coming to hand. Millers are not keen buyers, however, preferring to work off their present holdings. Fowl wheat also is not being keenly sought after. Local merchants are holding a fair amount of this and show no inclination to increase their holdings. Good milling quality is realising up to 7/6 per bushel, on trucks, country stations, and fowl wheat from 7/- to 7/3 per bushel, ex store, sacks extra. Potatoes.—The bulk of the local demand is being supplied with Canterbury potatoes. An odd truck is arriving from the Taieri, and if of good quality and freshly picked is realising £5 per ton, ex store, sacks in. Only choice lines are meeting with any demand, other lots being very difficult to quit and bringing very small prices. Chaff.—There is not a great deal of prime quality chaff coming to hand, and local feeders are buyers of any nice lines that come on the market. One or two lines of chaff have been shipped, but North Island buyers can now buy cheaper from Australia with the result that the shipping demand has eased considerably. We quote: Prime oaten sheaf £5 15/- to £6; inferior and medium £3 10/- to £5 per ton. Sacks extra. METAL MARKET. (Rec. 8.5 p.m.) London, October 28. Copper: Spot £5B 6/3; forward £59 3/9. Lead: Spot £3O 12/6; forward £3O 10/-. Spelter: Spot £34 2/6; forward £34. Tin: Spot £304; forward £3OO 2/6. Silver: Standard 24 7-16 d; fine 26Jd per ounce.—A. <fc N.Z. AUSTRALIAN MARKETS. Melbourne. October 29. Wheat parcels firm but quiet st 6/51 to 6/6. Flour.— £ls 10/ per ton; cash, £l5 5/-. Oats.—Milling 2/11 to 3/-; feed, 2/9. Barley.—English 4/3. Potatoes.—ll 10/- to £l3. Onions.—£B 10/- to £9 bagged.—A. and

LONDON MARKETS. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of October 28, 1926: FROZEN MEAT MARKET. New Zealand Lamb Market: Any change is in favour of buyers. Demand slight. New Zealand Mutton Market: Weak; demand limited. New Zealand Beef Market: Firm; demand continues. New Zealand Lamb: Canterbury, light 10id; heavy B]d. North Island, light 9fd; heavy Bd. New Zealand Mutton: Canterbury, light 6£d; heavy s|d; North Island, light 6d; heavy s§d. New Zealand Prime Ox Beef: Hinds s{d; fores 4d. Price of pork unchanged. DAIRY PRODUCE MARKET. Butter: Market Quiet but steady. Danish 184/- to 186/-; New Zealand exceptional 148/-; New Zealand finest 144/- to 146/-; Australian finest unsalted 162/- to 166/-; Australian finest salted 138/- to 144/-. Cheese: Market firm; Canadian 86/- to 90/-. (Rec. 7.40 p.m.) London, October 28. Flour is firm. Australian, ex store 45/-. Oats, peas and beans are steady.—A. and N.Z. WHEAT CARGOES. (Rec. 7.40 p.m.) London, October 28. Wheat cargoes are quiet at 3d to 6d easier. Parcels are inactive, but closed rather steadier at a decline. Liverpool futures quotations: October 12/1; December 11/10$; March 11/2s; May 10/11$ per cental. Spot trade is quiet, but prices are fully maintained.—A. & N.Z. BRADFORD TOPS. (Rec. 7.40 pjn.) London, October 28. The Bradford tops market is weak and a few speculators are picking up very cheap offers. Quotations are:— 64’s 454 d per pound; 60’s 42d; each $d down on the week. Others are unchanged, at 56’s 31 id; 50’s 25d; 46’s 2lid; 40’s 20d._A. & N.Z. FOREIGN EXCHANGE RATES. London, October 28. The exchange rates are as follows: Aug. 30. Oct 28. Paris, fr to £1 .. .. 172.37 156.00 Brussels, belgas to £1 .. 34.85 34.861 Oslo, kr to £1 22.16 19.47 Copenhagen, kr to £1 18.28 18.23 Stockholm, kr to £1 .. 18.15 18.15 Rome, lire to £1 .. .. 150.12 110.25 Berlin, reichmkn to £1 20.40 20.38 Montreal, dol. to £1 4.85 11-16 4.84$ New York, dol. to £1 4.85 4.84 Yokohama, st to yen .. 23 11-16 24$ Calcutta, st to rupee .. 18 17$ Hong-Kong, st to dol .. 26$ 23$ Amsterdam, gldr to £1 12.11$ 12.12$ Batavia, guilder to £1 12.08 i 12.09 i —A. & N.Z.