COMMERCIAL

Southland Times, Issue 20228, 13 July 1927, Page 2

COMMERCIAL

McNAB STOCK SALE. A SMALL ENTRY. (From Our Correspondent.) The fortnightly stock sale at McNab yesterday attracted a fair attendance of district farmers considering the unpleasant weather conditions under which it was held. There was, however, a very small entry of both sheep and cattle. A few fat wethers were on offer and sold at up to 34/6, this price being obtained by Messrs Wright, Stephenson and Co., Ltd., for a line of 30 well-conditioned sorts offered on account of Mr A. McKinnon, Gore, and purchased by Breen and Henry, Mataura. Fat ewes sold at up to 25/3. Sales were as follow: SHEEP. Southland Farmers’ Co-operative Association, Ltd: 20 fat ewes at 25/3; 57 lambs at 19/6; 18 store wethens at 24/3; 20 lambs at 21/3; 17 wethers at 26/1; 22 fat ewes at 17/-; 105 f and f.m. ewes at 15/-. National Mortgage and Agency Co., Ltd: 11 wether lambs at 18/-; 52 f and f.m. ewes passed at 10/9. J. E. Watson and Co., Ltd: 9 fat ewes at, 17/-. Wright, Stephenson and Co., Ltd: 30 fat wethers at 34/6. CATTLE. J. E. Watson and Co., Ltd: 1 fat heifer at £lO 12/6; 1 do at £7 5/-; 1 do at £7; 2 steers at £5 10/-. National Mortgage and Agency Co., Ltd: 1 store cow at £l. Southland Farmers’ Co-operative Associa% tion, Ltd: 4 dairy heifers at £5. CANTERBURY MARKETS. WHEAT REPORTED FIRM. (Per United Press Association.) Christchurch, July 12. The potato market is weaker for later months due possibly to the published estimate of the yield. The Statistician puts it down at only 8000 tons less than last year when there was a heavy export to Australia, and if this estimate ie approximately correct, a surplus appears probable. A proportion of merchants consider that the estimate is on the high side, but the forward market is being influenced by it to some extent. August-September delivery is quoted at £5 12/6. Prompts are relatively strong and selling at £5 5/-. Sales on trucks have dropped from £4 to £3 17/6 and in one or two cases it is reported to £3 15/,?. The Katoa sails to-day for the North with a consignment. Wheat was reported to be firm to-day. There is no change to record in other lines of produce. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. Auckland, July 12. Sales on ’Change:—Union Bank of Australia £l5 15/-; New Zealand Insurance 39/3; Breweries, Ltd., shares 47/6; Bartholomew and Timber Company 19/6; Kawarau 1/2; New Waiotahi (contributed) 9d. Wellington, July 12. Sales Reported: 54 per cent, stock (1933) £lOl 5/-; Wilson’s Cement 34/-. Christchurch, July 12. Sales reported: Bank of New Zealand 58/9; South British Insurance 58/3 (2 parcels); New Zealand Government 44 per cent. Inscribed (1938), £97 2/6, (1939), £97. Sales on ’Change: Bank of New South Wales £45 15/-; Mount Lyell 28/2, 28/-. Dunedin, July 12. Sales on ’Change.—Bank of New Zealand 58/9 (four parcels). Sales Reported.—Bank of New Zealand 58/9; Auckland Amusement Park (ord.) 9/9, 10/- (three parcels) ; Milburn Lime and Cement 26/104. METAL MARKET. (By Telegraph—Press Assn.—Copyright.) (Rec. 8.10 p.m.) London, July 11. Copper: spot £53 14/44; forward £54 5/7j. Lead: Spot £22 18/9; forward £23 8/9. Spelter: Spot £27 10/-; forward £27 6/3. Tin: Spot £282 15/-; forward £278 12/6. Silver: Standard £25 15/6; fine 28d. per ounce.—A. and N.Z. FOREIGN EXCHANGE. London, July 11. The exchange rates are as follows:

—A. and N.Z. and Sun. LONDON MARKETS. The Department of Agriculture has received the following cablegram dated the 9th instant from the High Commissioner for New Zealand, London: — Casein: French rennet £65. Tallow: Owing to poor demand no auction this week. Expect better prices. Fruit: As a result of heavy arrivals of soft fruit apple trade has fallen off and prices are easier. “Port Denison” arrived and is discharging on Monday. Prices are as follows —Sturmer, 18/- to 20/- per case; Statesman, 20/- to 23/- per case; Rome Beauty and Dougherty, 20/- to 22/- per case. Prices for Otago fruit: Jonathan and Delicious, 20/- to 22/- per case; Cleopatra, 20/- per case: Scarlet Nonpareil, Wolseley, Spitzenberg and Sturmer, 18/- to 20/- per case. Hemp: Manilla continues quiet. “J” grade July-September shipments quoted sellers £43 and buyers £42 10/-. Output to June 30, 631,000 bales against 650,000 for same period last year. Stocks in Manilla 137,000 against 204,000 and in Great Britain 6,500 against 27,000. Sisal: Fair demand continues and business has been done with July-August shipments at £37 10/-. Tow: Demand is good at £29 to £3l. New Zealand market still inactive and nominal values are Highpoints £35, Fair £34. Wool: Sales continue with active buying and values firm on opening basis. Brisk Home demand for greasy and sliped crossbred. GRAIN REPORT. Messrs Donald Reid and Company, Ltd., Dunedin, report as under:— Oats. —The market remains quiet. Very little inquiry is being made. Any busi-

ness passing is mostly of a speculative nature. Samples are not offering freely, and the quantity of A grade oats held in store is by no means large. B grade and undergrade are in more plentiful supply, and these grades are extremely hard to sell. Nominal values are A grade Gartons, 2/7; B grade 2/4, sacks extra, on truck, country stations. Wheat. —The bulk of this year’s harvest has now probably been marketed. Few samples are offering and values are well maintained. Fowl wheat is in good demand and stocks are gradually being worked off. We quote milling Tuscan 6/- per bushel, on truck, sacke extra. Velvet and Hunters are worth more money, but little of these varieties is available. Chaff.—The market varies very little. Sufficient is always coming to hand to meet the local feeders’ requirements. Shipping is impossible at present prices. The cfemand is purely for good quality, other grades can only be sold at a greatly reduced rate. We quote prime to £4 15/- ex truck, Dunedin, sacke extra. Potatoes. —The local market is dependent on the North for supplies. The Taieri and Stirling crops are much below expectations in yield and consignments from these districts have ceased. The prospects of high prices have been minimised by the importation of Tasmanian tubers. Value to-day is £5 10/- to £5 15/- ex truck, sacks in.

Paris, fr to £1 .. .. May 27. July 11. 124.00 124.00 Brussels, belgas to £1 34.96 34.92 Oslo, kr to £1 . . .. 18.79 18.79 Stockholm, kr to £1 .. 18.15 18.13 Copenhagen, kr to £1 . 18.18 18.47 Rome, lire to £1 .. . 88.65 88.18 Berlin, rchmkn to £1 . 20.50 20.49 Montreal, dol to £1 .. .. 4.8} 4.86 5-16 New York, dol. to £1 4.85 13-16 4.85 9-16 Yokohama, st to yen 22 13-16 238 Calcutta, st to rupee Hong-Kong, st to dol 17 15-16 17} .. 24} 234 Amsterdam, gldr to £1 12.13} 12.11 15-16 Batavia, guilder to £1 . 12.1} 12.12