COMMERCIAL

Southland Times, Issue 20201, 11 June 1927, Page 2

COMMERCIAL

MATAURA STOCK SALE. SHEEP MARKET DULL. The monthly stock sale was held at Mataura on Thursday in fine weather. There was a small attendance of buyers. The yarding comprised 774 sheep and 43 head of cattle. A few pens of fat sheep were forward. The market was not very brisk, and only a pen of fat ewes changed hands at 20/6, while wethers were passed in at 29/-. Business was dull in stores, and a big proportion of the entry was passed in. A couple of pens of store wethers realised 22/- and 25/1, and store lambs made from 15/2 to 19/11. A few pens of ewes in lamb were offered, but the quality in most cases was not very good, and sales were made at from 7/9 to 13/1. Some fairly good beef was offered, for which there was a fair demand at firm rates, and practically everything was sold under the hammer. Good fat steers made £7 10/-, and fairly heavy cows from £4 15/to £6 12/6, and poorer quality £4 5/- down to £3. Store cows realised from £1 10/- to £3, yearling steers and heifers up to £3 15/-, and bulls £5 12/6. Sales were as follow: Southland Fanners’ Co-operative Association, Ltd.: 2 lambs 7/3, 45 lambs 18/2, 35 do. 19/11, fat cows 2 at £4 15/-, £4 5/-, £3 7/6, 4 store heifers £2 10/-, do. £1 15/-, 4 yearling steers and heifer £3 15/-, 2 store cows £2 15/-, 3 store heifers £3, steer £4 5/-. Passed in: 48 2-tooth wethers 20/-. National Mortgage and Agency Co., Ltd.: 21 fat ewes 20/6, 42 f. and f. ewes 11/8, 78 do. 7/9, 93 do. 13/1, 2 rams 13/1, 2 wethers 26/-, 5 fat steers £7 10/-, fat cows £3, £4 5/-, 4 do. £3 5/-, 1 do. £5 10/-, bull £5 12/6, store cow £1 10/-, do. £2 2/6. Passed in: 50 ewes 7/6, 10 fat wethers 29/-, 16 wethers 23/6, 3 store heifers £1 17/6, steer £2. Wright, Stephenson and Co., Ltd.: 30 wether lambs 15/2, 22 4 and 6-tooth wethers 22/-; 3 lambs 17/-, 200 4 and 6-tooth wethers 25/1, store cow £2. Passed in: 60 4 and 6-tooth wethers 22/6. J. E. Watson and Co., Ltd.: Fat cows £6 12/6, 2 at £6, £3. DAIRY PRODUCE. The National Mortgage and Agency Co., Ltd., report having received the following cable from Messrs A. J. Mills and Co., Ltd., London, dated June 4, 1927: Butter.—The market is slow, advanced prices having checked demand. Allotments this week not clear. 168/- to 170/-. Cheese. —The market is quiet. Allotments this week not clear. White cheese 88/- to 89/-; coloured 89/- to 90/-. RABBITSKIN SALE. DUNEDIN PRICES. Messrs J. G. Ward and Co., advise that at the continuation of the Dunedin rabbitskin sale on Thursday, prices dropped 6d to 1/- per lb on all winter grades. Autumns, incomings and lower grades fell a further 6d to 8d per lb, making a total drop of 1/to 1/6 per pound all round wiuiin the week. A further decline is anticipated next sale. CANTERBURY MARKETS. POTATO PRICES ADVANCE SLIGHTLY. (Per United Press Association.) Christchurch, June 10. The potato market retains the firmness recorded last week and prices have advanced slightly for forward business.

July deliveries are quoted "at £5 12/6 f.0.b., sj., but singularly enough prompt are only £5, and- June’s £5 2/6. The prompt position is affected by the consignments regularly going to Auckland operators. They are satisfied with the adequacy of this supply in the meantime and are ordering very’ sparingly . The strong feature of the market is the forward business. At present growers can secure £3 15/- a ton on trucks, but they are not rushing the market. A good deal of pitting is going on. Wheat is selling spasmodically at the recent basis of 5/6 a bushel on trucks. The volume of buying, however, is not large. Oats are about the same, 3/6 a bushel, f.0.b., s.i., but there is little life in the market. Chaff has been meeting with an irregular market. A strong demand set in from the North Island during the week and over 60 trucks were due for despatch by the next i boat. However, Auckland commenced sell- j ing back at £5 5/- f.0.b., s.i., £5 2/6 and 1 again at £5 7/6 in the same quarters. This 1 is put down to a weakness in the Blenheim : market and in others to an Auckland | bear movement when the North discov- j ered that there was chaff about. V alues on trucks to farmers range about £3 12/6 a ton. ■ no change in the seed market, either in the value or demand.

THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. Auckland, June 10. Sales on ’Change: New Zealand Inscribed Stock (1933), 5J per cent. £101; English, Scottish and Australian Bank £8 6/6; National Bank of New Zealand £7 3/6; Bank of New Zealand 60/6; New Zealand Insurance 40/3; Tonson Garlick 14/6; Alburnia 4/9, 4/6, 4/7. Wellington, June 10. Sales reported: New Zealand Insurance, (4 parcels) at 40/-; 4 A per cent Stock at £97 2/6 and £97; 5A per cent. Stock at £lOl. Christchurch, June 10. Sales reported: Bank of New Zealand (cum. div. and bonus) 60/6; New Zealand Paper Mills 16/4. Sales on ’Change: Australian Bank of Commerce 36/6; New Zealand Refrigerating (cont.) 6/6; Kaiapoi Woollens (17/- paid) 10/6. Dunedin, June 10. Sale on ’Change: St. Bathan’s (A Issue) 2/-. Sales reported: Huddart-Parker (pref.), 21/-; Grand Junction 1/-; 4A per cent. Bonds (1938) £97. LONDON MARKETS. IBy Telegraph—Press Assn.—Copyright.) (Rec. 9.45 p.m.) London, June 9. Flour is steady. Oats are firm. Australian Algerian 28/to 29/-; New Zealand A Gartons 29/- to 30/-. Grey Winter 28/- to 29/-. Blue peas are neglected. Tasman 320/to 380/-; New Zealand 320/- to 340/. Maples are firm. Tasmanian 100/- to 105/-; New Zealand 87/6 to 90/-; New Zealand Beans 40/- to 46/-. Butter is dull and easier, buyers have apparently filled requirements before the holidays. New Zealand and Australian choicest salted 162/- to 164/-; exceptionally 166/-; unsalted 6/- to 8/-; premium Danish 166/-. Cheese- is slow. New Zealand 83/- to 84/-. Sugar 31/14.—A. and N.Z. and Sun. Messrs Dalgety and Company, Ltd., report having received the following advice from their head office, London, under date of the 9th instant:— FROZEN MEAT MARKET. Poor demand owing to holidays. Market nominally unchanged, but baconers Id to lower. DAIRY PRODUCE MARKET. Butter market quiet. We quote Danish 166/-, New Zealand 162/- to 164/-; finest Australian unsalted 168/-, finest Australian ; salted 162/- to 164/-. Cheese market dull. We quote New Zealand finest white 82/- to 84/-; finest coloured 83/- to 85/-; Canadian c.i.f. 84/- to FOREIGN EXCHANGE. London, June 9. The exchange rates are as’ follows:

May 27. June 9. Paris, fr to £1 .. .. 124.00 124.00 Brussels, belgas to £1 34.96 34.96 Oslo, kr to £1 18.79 18.76 Stockholm, kr to £1 .. 18.15 18.14 Copenhagen, kr to £1 18.18 18.17 Rome, lire to £1 .. .. 88.65 88.18 Berlin, reichmkn to £1 20.50 20.50 Montreal, dol. to £1 .. 4.8} 8.85 11-16 New York, dol to £1 4.85 13-16 4.85 23-32 Yokohama, st to yen . 22 13-16 23 Calcutta, st to rupee .. 17 15-16 17 15-16 Hong-Kong, st to dol . 24J 24g Amsterdam, gldr to £1 12.13 j 12.12 j Batavia, guilder to £1 12.1} 12.12 —A. and N.Z. and Sun.