COMMERCIAL

Southland Times, Issue 20042, 2 December 1926, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S TRANSACTIONS. At a meeting of the Invercargill Stock Exchange held yesterday morning the following quotations were made:— Bank of Australasia, s £l4 5/-. Commercial Bank, b 31/9; s 32/6. E.S. and A. Bank, b £8; s £8 1/6. National Bank, b £7 0/6; s £7 2/-. Bank of New South Wales, b £45; s £45 10/-. Bank of New Zealand, b 60/3; s 60/9. Bank of New Zealand (rights), b 6/7; s 6/8.

Union Bank of Australia, b £l5 4/-; s £l5 7/-. Westport Coal, b 35/-; s 36/-. National Insurance, b 74/-; s 77/-. New Zealand Insurance, b 38/3. South British Insurance, b 56/-; s 58/-. Standard Insurance, s 59/9. Dalgety and Co., Ltd., b £l5 10/-. Goldsbrough Mort and Co., Ltd., b 49/-; s 50/3.

Wright, Stephenson and Co., Ltd. (ord.), s 23/-; (pref.), s 17/3. Gear Meat Preserving, b 66/6. New Zealand Refrigerating (20/-), b 11/6; s 15/-; (10/- paid), b 6/6; s 7/-.

Southland Frozen Meat (£1 ord.), b 32/-; (10/- ord.), b 16/-; (£1 pref.), b 32/-. Electrolytic Zinc Co., Ltd., (pref.), b 36/6; s 37/3; (ord.), b 36/-; s 36/6. Waihi Gold Mining, s 18/6. Bruce Woollen Milks, s 19/-. Dominion Rubber Co., s 15/-,. Milburn Lime and Cement, b 30/6; s 31/-. New Zealand Express (ord.), b 21/-; s 22/9. Wilson’s (N.Z.), Port Cement, s 34/3. Inscribed Stock (1938), b £96 15/-. War Bonds (1938), b £96 15/-. Inscribed Stock (1939), b £96 15/-. War Bonds (1939), b £96 15/-. Soldier Settlement Loan Bonds, b £lOO 10/-.

Soldier Settlement Loan Inscribed, b £lOO 10/-.

THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, December 1. Sales on ’Change: Soldiers’ Bonds (1933) 5 J per cent. £lOO 17/6; National Bank of Australasia £lB 1/6; Bank of New Zealand 60/3, (rights) 6/8; Union Bank of Australia £l5 4/6; Taupiri Coal 21/9; Auckland Gas 23/9; Sanford Ltd. 23/6; Wilson’s Cement 33/6; Alburnia 3/9; Moanataiariri 5/9, 5/8, (cont.) 5/8, 5/7, 5/6, 5/4, 5/3, 5/4; Kawarau 3/3; Lucky Shot (cont.) 1/4, 1/3; Waihi Grand Junction 2/2, Mount Lyell 9/1. Wellington, December 1. Sales reported: Bank of New Zealand (cum. rights) £3 0/6, £3 0/3, rights 6/7; Gear Meat £1 17/- (cum. rights). Christchurch, December 1. Sales on ’Change:Bank of Australia 32/-; Bank of New South Wales (cum. div.) £45 7/6 ( 2 parcels); Western Australian Bank 54/6. Dunedin, December 1. Sales on ’Change: St. Bathans B issue 4/6 premium (two). Sale reported: Bank of New Zealand 60/6. GORE STOCK SALE. A GOOD MARKET. At the fortnightly stock sale at Gore on Tuesday there was a good attendance of farmers and prices for most lines of stock showed a firming tendency. There was a good entry of fat sheep, but some of the lines were not well finished. There was fair demand throughout, and fat woolly wethers realised 31/- to 33/6, while shorn sorts made 24/3 to 27/6, The latter price was obtained by Dalgety and Co., Ltd., for a line sold on behalf of Mr A. Blue, Kingston Crossing, to Mr W. Cox, Gore. A woolly ewe made 26/6 and shorn ewes were quitted at 22/-. Not many stores were offering and ewes and lambs made up to 15/1. Good store wether hoggets realised up to 25/5. A particularly fine line of ewe hoggets reared and brought out on the farm of Mr P. J. McSweeney, Waimumu, made good competition and were sold by the New Zealand Loan and Mercantile Agency Co., Ltd., to Mr Malcolm McPhee, Balfour, at 43/9. They were beautifully grown and well wDolled hoggets. Sales were as follow:

Southland Farmers’ Co-operative Association, ltd.: 43 fat woolly wethers 31/-; 21 wether hoggets 24/9. Dalgety and Co., Ltd.: 29 fat shorn wethers 27/6, 23 do. 26/6, 10 do. 24/3, 2 shorn rams 31/-, 2 fat shorn ewes 22/-, 65 ewes and lambs 15/1, all counted. Passed in: 29 fat woolly wether 34/6, 60 wether hoggets 22/1. National Mortgage and Agency Co., Ltd.: Fat woolly ewes 26/6, 3 fat woolly wethers 33/6, 2 hoggets 24/-, 11 ewes and lambs 13/-, 180 wether hoggets 25/5. Passed in: 24 fat shorn ewes 15/-, 14 fat woolly ewes 20/-. New Zealand Loan and Mercantile Agency Co., Ltd.: 55 ewe hoggets 43/9. CATTLE. There was a good yarding of fat cattle, some fine quality medium weight bullocks and good young cows being offered. The demand was good and prices compared very favourably with those at other sales. Good bullocks changed hands at from £lO 12/6 to £l2. Good young cows and heifers realised from £6 10/- to £8 10/-, while medium and inferior sorts were quitted at from £3 12/6 to £4 10/-. A large entry of store cattle was offered, and the demand throughout was satisfactory, prices being well maintained. Springing cows and heifers and cows in milk realised from £3 5/- to £5 17/6. Empty cows and heifers changed hands at from £2 12/6 to £4 10/. Three-year-old store bullocks made up to £6 5/-, and two-year-old steers and heifers from £2 17/6 to £4 7/6. A large number of bulls were disposed of at from £3 to 21 guineas. Sales were as follow: Southland Farmers’ Co-operative Association, Ltd.: Fat cows £4 10/-, £4 5/-, 3 at £7 5/-, £6, £6 17/6, fat heifer £4 10/-, springing cow £4, springing heifer £4 7/6, cow in milk £3 10/-, cow in calf £5 17/6,

6 2-year-old heifers £2 17/6, 2 springing heifers £4, empty heifer £4 10/-. Dalgety and Co., Ltd.: 2 bullocks at £ll 17/6, 2 at £ll 5/-, 2 at £l2, £lO 12/6, iat cow £6, 7 steers £3 10/-, 4 2-year-old steers £5 2/-, bull £7 15/-. Passed in: Five 2-year-old heifers £3 5/-. National Mortgage and Agency Co., Ltd.: Fat cows £7, £B 10/-, fat heifer £4 2/6, fat bullocks 2 at £ll 15/-, £lO 12/6, springing heifers £3 5/-, yearling bulls £4 2/6, £4 7/6, 2 at £3, aged bull £6 15/-. Passed in: 2 store steers £6 10/-.

Wright, Stephenson and Co., Ltd.: Fat heifers £4 10/-, £3 12/6, 2 cows £1 17/-, 7 3-year-old steers £6, cow £2 12/6. Passed in: 2 fat bullocks £ll, bull £4 4/-, 8 mixed sex yearlings £3 5/-. New Zealand Loan and Mercantile Agency Co., Ltd.: Empty cow £3 5/-, steer £4 7/6, 12 3-year-old steers £6 5/-. J. E. Watson and Co., Ltd., offered and passed in a fat cow at £7 10/-. PEDIGREE BULLS. Wright, Stephenson and Co., Ltd., on account of Mr G. R. Herron, Pukerau, sold:— Three-year-old Ayrshire bull, by King Richard of Waipapa: 21gns, to Cockburn Bros., Mataura. Three-year-old Ayrshire bull, by Glencairn Barron out of Gladys of Reeka: llgns to W. Jones, Riversdale. Yearling bull Gloaming, by Maysguin Midnight: 9gns, to J. G. Sutherland, Mataura. Yearling bull, Loyalty, by Thornhill Royalty (imp.),: sgns, passed in. Yearling bull, Style, by Thornhill Royalty (imp.): 104gns, to F. W. Hamill, Ferndale. Yearling bull, Wallace, by Gowan Bank — Full Bloom: Passed in at lOgns. Account Joseph Charles, Arthurton: — Two-year-old Friesian bull, Southdown’s Pride, by Coldstream King Quality out of Willowbank Inka Mentor: llAgns, to T. McDonald, Mataura. Account H. Werner, Ferndale:— Purebred Jersey bull, bred by Hellyer (North East Harbour): 7gns, to T. F. Landels. BURNSIDE MARKET. SHEEP PRICES DOWN. Dunedin, December 1. At Burnside to-day save in sheep (down 2/-), there was no marked change in rates. Fat cattle showed an easing tendency, but other lines were at par. Sheep.—A penning of 2230 of average quality. All were .shorn except for about 150. More unfinished sheep than usual were in tire entry. The opening demand was fair, but the market eased and towards the finish sides were slow and irregular, heavy sheep being little changed and light prime 1/- easier. The demand lessened more and all classes were 2/- down at the close of the sale. Passings were freely made. Prices were: —Heavy prime shorn wethers 30/3 to 31/6; medium weights 27/- to 29/-; lighter 25/3 to 26/-; prime heavy ewes 26/6 to 29/-; medium 20/to 25/3; best woolly wethers 41/6 to 44/6; lighter 32/3 to 35/-; best woolly ewes 32/- to 35/-; lighter 28/- to 30/- prime shorn wether mutton 4jd per pound; light 4}d; prime ewe 4d; light aged Lambs:—A panning of 246. The offering was comprised of well-grown prime lambs of varying weights with a small proportion of medium sorts. The demand was very fair and prices were on a par with last week’s rates. Prices were:—Heavy prime lambs 28/3 to 30/-; medium weights 24/9 to 26/-; lighter 21/- to 23/-. Lambs made from 8d to 9d per lb. Fat Cattle.—A yarding of 283. There was a capital entry of bullocks including some consignments from the south. The quality all round was good. The proportion of cows was comparatively small. At the opening of the sale the demand was quiet and prices were much the same as the previous week’s though as the sale progressed a tendency towards lower rates was shown. Prices were:—Extra prime bullocks £l5 to £l6 5/-; prime £l3 5/- to £l4 15/-; lighter £8 5/- to £11; heifers £7 15/to £ll 5/-; cows £7 5/- to £8 15/-; extra prime cows to £l2 10/-; extra heavy bullock beef 34/- per 1001 b; prime light 36/to 37/6; prime heifers 32/6; cows and light heifers 20/- to 27/6. Store Cattle.—A yarding of 231, mainly of mixed cows and young cattle of medium quality. An odd pen or two of two and three-year-old steers were included. A pen of two and a-half-year-old steers brought £7 10/- per head, while some three-year-olds were passed at auction. The balance of the cattle realised about last week’s rates. Pigs.—A penning of 89 fats and <td stores. The market was practically unaltered. Bacon pigs made to about £5 10/- and porkers to about £4 10/-. ADDINGTON MARKET, SMALLER ENTRIES. Christchurch, December 1. Entries generally were small at the Addington stock market to-day. The store sheep entry filled less than three races and consisted mostly of ewes and lambs and wethers. The bulk of ewes and lambs were of plain quality, but any fair sorts met with a keen demand at prices 1/- a head in advance of late rates. Values wer-:—Good aged ewes with lambs 15/3 to 17/9; fair aged ewes with lambs 13/5 to 14/-; inferior aged ewes and lambs 9/6 to 11/7; good conditioned shorn ewes and lambs 12/3; aged dry halfbred ewes 9/4; four, six and eight-toothed shorn wethers 22/- to 24/-; inferior shorn four and six-toothed wethers 20/7 to 20/8; good woolly three-quarter-bred 4-toothed wethers 32/10; shorn twotoothed wethers 18/5 to 21/1; woolly threequarterbred crossbred hoggets 32/6; inferior woolly halfbred hoggets 25/6. Fat Lambs.—The entry consisted of 670 head compared with 880 last week. The market opened with prices showing a rise for good sorts and although the demand eased towards the end, the sale was better than the previous one. Values were:— Extra prime heavy lambs 30/- to 32/10; prime lambs 27/6 to 29/6; medium lambs 24/6 to 27/-; light lambs 20/- to 23/6. Fat Sheep: The entries totalled eight and a half races against, ten last week, and 14 two weeks ago. In the latter stages of the sale the market brightened up and butchers had to pay higher figures for plainer wethers than at the beginning. Values were generally firm par to a shade higher than last week’s. Extra prime shorn wethers to 34/7; prime wethers 27/6 to 31/3; medium wethers 26/- to 27/3; light wethers 22/- to 25/6; extra prime shorn ewes to 29/10; prime ewes 20/- to 22/6; prime woolly wethers to 43/4; medium woolly wethers 33/- to 35/6; prime woolly ewes 28/6 to 32/1; medium woolly ewes 25/6 to 27/9.

Fat Cattle.—ln the fat cattle pens the yarding totalled 550 head, compared with 557 last week. Cows formed a considerable portion of the yarding, but the proportion of good cows was rather larger than is usually the case. Recently the market has been over-supplied and this was the case again with the result that butchers were not inclined to go to the rates ruling a week ago for the cattle. Rough, heavy bullocks were lower by £1 a head in some parts of the sale. Best quality steer beef made from 34/6 to 37/6 1001 b; heavy prime 31/- to 32/6; medium quality 29/to 31/-; best heifer 31/- to 36/6; best cow 30/- to 33/-; inferior 25/- to 27/6; extra heavy steers to £l6 7/6; prime £l4 to £l5; prime medium weight £l2 15/- to £l3 15/-; medium quality steers £lO 7/6 to £l2 10/-; light steers £8 to £9 17/6; extra prime heifers to £l6 7/6; prime £6 15/- to £9 10/-; light £5 5/- to £6 7/6; extra heavy cows to £l2 2/6; prime £9 to £lO 15/-; medium £6 10/- to £8 15/-; light £4 5/- to £6. Vealers.—-The entry was smaller than for a long time and the quality was poor. Medium runners £6 to £7; good calves £5 5/- to £5 15/-; medium calves £4 to £5; small calves 15/- to 30/-.

Store Cattle.—The entry was small and consisted mostly of cows. Good fresh cows to £5; medium cows £3 to £4; inferior cows 30/- to £2 10/-; three and four-year-old steers £7 15/-; yearling steers and heifers 54/-.

Dairy Cattle.—The entry comprised 45 head, compared with 65 last week. The demand was limited and the sale was dull throughout. Best second, third and fourth calvers £8 to £lO 10/-; medium sorts £3 co £4 10/-; springing heifers £4 to £7 15/-; old pows in profit £3 to £4 5/-. Fat Pigs.—The medium entry met with an irregular demand, but prices generally were somewhat better than last week. Choppers £4 to £7; light baconera £3 12/to £4; heavy baebners £4 10/- to £5; extra heavy baconers to £5 8/-; average price per lb 6£d to 71d; light porkers 46/- to 54/-; heavy porkers 60/- to 69/-; average price per lb 8d to 9d. Store Pigs.—Values showed a reduction of about 5/- on late rates. Weaners 15/to 20/-; better sorts to 26/-; small stores 28/- to 33/-; medium stores 35/- to 40/-; large stores to 51/-; sows £3 15/- to £4.

DAIRY PRODUCE. llie National Mortgage and Agency Co., Ltd., report having received the following cable from Messrs A. J. Mills and Co,, Ltd., London:— Butter. —Improved demand. Control prices now 156/- to 158/-. Stored butter practically cleared 150/- to 152/-. Cheese. —Good demand. Finest 87/-; firsts 86/-. PENINSULA AND ORIENTAL COMPANY. DIVIDEND PROPOSED, (By Tdcgrapb Pro-a Assn.—Copyright.) London, November 30. The Peninsular and Oriental Company’s balance sheet shows a credit balance of £19,056; reserve for redemption of debentures, £274,687; brought forward, £133,136. The report states that, tluinks to the conservative policy hitherto adopted and not to the profits made, the directors are prepared to propose a dividend of 10 per cent, on preferred stock. Experience with oil fuel having been satisfactory, the Narkunda and the Naldera will be converted from coal to oil as soon as possible.—A. & N.Z. PRICE OF GOLD, (Rec. 5.5 pun.) London, November 30. Tlic price of gold is quoted at 84/10} per ounce.—A. & N.Z. LONDON WOOL SALES. KEEN COMPETITION. London, November 30. At the wool sales there was an average selection and animated competition lor all classes, prices being fully maintained. New Zealand “Belmont” made 15 id to 14:l-d.—A. & N.Z.