COMMERCIAL

Southland Times, Issue 20496, 26 May 1928, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. The following prices were quoted at a meeting of the Stock Exchange held yesterday : Bank of. Australasia, b £l4 5/-. Commercial Bank, b 29/3; s 29/6. E.S. and A. Bank, b £B'B/-; s £8 9/-. National Bank of New Zealand, b £7 2/9; s £7 4/6. Bank of New South Wales, b £4B 7/6; s £4B 12/6. Bank of New Zealand, b 60/-; s 60/3. Union Bank of Australia, b £l4 16/-; s £l4 17/-. Westport Coal Co.,' s 30/6. National Insurance, b 15/9. New Zealand Insurance, b 41/9. Standard Insurance, b 63/-. Dalgety and Co., b £l4 6/-; s £l4 8/-. Goldsbrough, Mort and Co., b 51/3; s 51/6. National Mortgage, b 74/6. Wright, Stephenson and Co. (pref.), s 15/6. New Zealand Refrigerating Co. (20/paid), b 18/-; s 18/4; (10/- paid), b 8/3; s 8/4. Southland Frozen Meat Co. (£1 ord.), b 32/-; (10/- ord.), b 16/-; (£1 pref.), b 32/-. Kawarau Gold Mining Co., b Bd. Electrolytic Zinc (pref.), b 32/6; s 33/-. Union Steam Ship Co. (pref.), b 20/4. Bruce Woollen Mills, s 13/3. Kaiapoi Woollen Mills (ord.), b 9/3. Mosgiel Woollen Mills, b £6 15/-. Milburn Lime and Cement, s 32/9. New Zealand Breweries, Ltd. (shares), b 42/-; s 44/-. New Zealand Drug Co., b 69/-. New Zealand Farmers’ Fertilizers, b 92/-. New Zealand Guarantee Corporation, b 8/7; s 8/8. New Zealand Milk Products, b 21/-; s 23/-. Wilson’s (N.Z.) Portland Cement, s 39/6. Dominion Investments, b 22/-. War Bonds (1930), b £9B. Inscribed Stock (1938), b £97 15/-. RO. Inscribed Stock (1929), b £9B. Soldier Settlement Loan Bonds (1933), 54 per cent.), b £lOO 5/-. Sales were reported of Bank of New South Wales at £4B 7/6, and Bank of Adelaide at £9 10/-. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 25. Sales on ’Change: South British Insurance 61/-; Goldsbrough Mort 51/9, 52/-; Hikurangi Coal 4/-; Auckland Gas 23/7; Kaiapoi Woollen 10/-; New Zealand Breweries 42/2; Fullers Pictures 20/6; Kempthorne, Prossers 69/9; Wilson’s Cement 39/2; Mount Lyell 33/4. Christchurch, May 25. Sales on ’Change: Commercial Bank of Australasia 29/5 (2 parcels) ; E.S. and A. Bank £8 9/-; National Bank of Australasia (£5 paid cum. div.) £9 3/- (2 parcels); Union Bank £l4 17/6 (2 parcels); Goldsbrough Mort £5 18/- (odd lot) ; New Zealand Breweries 42/5 (3 parcels); Christchurch Gas 24/-; Tooths Brewery 42/11, 43/- (2 parcels).

Sales reported: New Zealand Government 5$ per cent. Insurance (1933), £lOO 5/-; National Insurance 15/6: Mahakipawa 1/6. Dunedin, May 25. Sales on ’Change: Kaiapoi Woollen (pref.) 14/3; Mount Lyell 33/2 (2), 33/6 (2). Sales reported: Commercial Bank (pref.) £7 5/6; National Insurance 15/6; Electrolytic Zinc (ord.), 31/3; New Zealand Drug Company 69/3; National Bank £7 3/6; New Zealand Refrigerating (cOnt.) 8/4. EASTERN DISTRICT FAT STOCK. BURNSIDE MARKET. Vendors of Eastern District fat stock at the Burnside market on Wednesday secured the following prices:— Cattle: Hans Morrison (Gore), bullocks £l9 12/6, £l4 15/- and £l3 10/-. P. Campbell (Wyndham), heifers £lO 5/-, £lO 2/6, £9 17/6, £9 15/- and £9 10/-. W. L. Scott (Mataura), bullocks £l3 10/-, heifers £l2 5/-, £ll 7/6 and £lO 7/6. Lischner and McNeill (Tapanui), cows £ll 5/-, £9 2/6 and £6 15/-. D. Mcßeath (Tapanui), heifer £7 7/6. John Black (Mataura), bullocks £l2 10/-, heifers £8 10/- and £7 17/6. Sheep: John McDonald (Tapanui), ewes 27/6, wethers 37/6 and 42/3. W. Walker and Son (Heriot), wethers 45/- and 39/9. James Edgar (Tapanui), ewes 30/- and 24/-. M. Ferguson (Tapanui), wethers 46/6, ewes 33/6. R. Gray (Mataura), ewes 35/3, 32/3 and 30/-, wethers 53/-, 36/9 and 34/3. A. Ottrey (Heriot), ewes 29/3. Southland Farmers’ Co-operative (Gore), wethers 36/-, ewes 25/6, 24/3 and 23/9. D. C. McKenzie (Glenham), wethers 41/3, 36/6 and 33/6. Stalker Bros. (Kelso), wethers 40/3, 35/3, 35/3, 35/- and 32/3. H. Mason (Otikerama), ewes 28/9, 25/6 and 23/6. Dillon Bros. (Riversdale), wethers 49/9, ewes 37/3 and 31/6. T. Landels (Mataura), ewes 20/- and 19/9. Trustees Barnhills Estate (Lumsden), wethers 47/- and 39/9. P. A. Bolting (Edcndaie), wethers 46/-, ewes 47/6 and 31/3. R. L. Reid (Waikaka Valley), wethers 42/- and 36/3, ewes 36/-, 35/-, 34/and 29/3. Stalker Bros. (Kelso), wethers 33/- and 32/9. D. C. McKenzie (Glenham), lambs 42/3. LUMSDEN STOCK SAI E. (From Our Correspondent.) There was a yarding of about 4000 sheep and 50 head of cattle at the Lumsden sale on Wednesday. A brisk sale is reported and prices showed an advance of approximately 3/- per head on those ruling at last month’s sale, in fact Wednesday’s sale was considered to be the most successful held this season. Fat lambs were again in demand some lines bringing the satisfactory price of 37/-. In the store section, prices generally showed an advance, a good clearance being effected. The following list of sales will give an idea of the prices realized. Dalgety and Company: 21 fat ewes 17/4; 70 fat lambs 37/; 59 fat lambs 35/1; 96 fat lambs 32/-; 183 ewe. lambs 24/11; 26 f.m. ewes 7/-; 46 s.m. ewes 20/3; 140 g.s.m. ewes 29/1; 150 g.s.m. ewes 29/-; 144 g.s.m. ewes 28/-; 147 wether lambs 21/3; 200 wether lambs 21/9; 20 wether lambs 21/10; 54 m.s. lambs 25/4. Wright, Stephenson and Co.: 82 ewes. 14/-; 263 wethers 15/-; 85 wethers 5/7; 125 fat lambs 37/-; 98 fat lambs 31/6; 90 fat lambs 35/6; 43 fat lambs 35/-; 11 m.s. lambs 24/9; 22 ewes 17/3; 61 ewes 28/1; 57 ewes 16/6; 108 wethers 28/-. Cattle: 39 steers £9 2/6. National Mortgage: 154 wethers 31/-; 62 2-th wethers 30/2; 146 m.s. lambs 21/7; 108 wethers 35/6; 356 wethers 29/4; 69 wethers 24/3; 68 wethers 10/3.

WAIKAKA STOCK SALE. A SMALL YARDING. The entry of sheep at yesterday’s stock sale at Waikaka showed a considerable falling off compared with earlier sales at this centre, and the season is now so far advanced that from now on smaller sales at all district centres can be expected. The attendance of district farmers was also small, but for the class of stock offering there was a fair demand, and practically the whole of the yarding was cleared. There is still a good inquiry for wethers and yesterday good serts of four and six-tooth wethers realized up to 33/6, with smallergrown sorts down to 29/-. A line of good two-tooth ewes did not find a purchaser, and was passed in at 37/9. A line of fairly well-grown ewe lambs realized 26/-, while wether lambs that had been on feed for a time realized 23/6. These, however, required a good deal of feed to fatten them off. Sales were as follow: Wright, Stephenson and Co., Ltd.: 73 f. and f.m. ewes at 20/6; 70 cull lambs at 15/3; 500 six and eight-tooth wethers at 29/-; 50 rape lambs at 23/6; 80 ewe lambs at 26/-; 40 cull ewes passed at 7/-. J. E. Watson and Co., Ltd.: Two rape lambs at 23/6. National Mortgage and Agency Go., Ltd.: 42 four-tooth wethers at 28/10; 54 6 and 8-th wethers at 33/6. New Zealand Loan and Mercantile Agency Co., Ltd.: 230 two-tooth ewes passed at 37/9. Southland Farmers’ Co-operative Association, Ltd.: 30 wethers at 29/1; 5 two-year-old steers at £5 10/-. OTAUTAU STOCK SALE. There was a good attendance of buyers at the usual fortnightly stock sale at Otautau yesterday. Although yardings were on the small side, some very nice quality stuff was forward. Fat lambs sold well at recent ruling rates. There were a few pens of good forward conditioned lambs available, and these met with a keen sale, one pen realizing 27/- and another 28/-. A few nice 2-tooth ewes brought 38/6, and some nicely-bred forward conditioned 2-tooth wethers sold at 29/2. There was a small yarding only of cattle and these met a fair demand at prices in keeping with those of the past fortnight. CANTERBURY MARKETS. WHEAT PRICES MORE UNIFORM. Christchurch, May 25. With the May wheat contracts filled, prices have stabilized and values to-day are more uniform. The market is fairly firm at 6/- to 6/1 f.0.b., s.i. or 5/7A to 5/9 on trucks. Offerings this last couple of days have been much freer, particularly of undergrade wheat and a fair quantity of this has changed hands at 5/5 to 5/7 according to quality. Fowl wheat is scarcely so firm and is quoted at 5/8 to 5/84 f.o.b. for prompt. A Gartons have not maintained last weeks position. Holders want to quit their May oats as most of them are showing a profit, but buyers are not plentiful. Values for prompts are back to 4/14 to 4/2 a bushel f.0.b., s.i., Ljfftelton, and 4/2 for June. For spread June-September buyers are offering 4/34 and sellers are asking 4/4. Values on trucks are from 3/7 to 3/8. B Gartons f.0.b., s.i., are quoted at 3/10 or 3/4 on trucks. Both Algerian oats and chaff have been very slow to respond to the advance in Gartons, but chaff has improved this week and is quoted at £5 15/- a ton, f.0.b., s.i., or £3 17/6 to £4 on trucks. Consequent on an unexpectedly heavy consignment of 7,500 sacks by the Waikouaiti for Auckland the other day, the prompt potato market is inclined to be easier. The Waipiata is booked to-morrow with a small lot, and the Katoa the first day or so in June. The Waikouaiti’s con signment will arrive on a bare market. A fair number of inquiries have been received from the North for June potatoes. They have been sold at £5 5/- f.0.b., s.i., for whites and £5 7/6 for Dakota prompts, and for June £5 12/6. A new interest has been created in the potato market by the report that a shipment of about 300 tons has been sold to South America. A year or two back potatoes were shipped to this quarter. Onions have steadied, but up to £5 15/a ton is available on trucks. Peas are scarcely so firm, the Home inquiry slackening off. The f.o.b. s.i., price

is 6/9 f.0.b., s.i., or 5/10 to 6/- on trucks. Quite a good demand for white clover has set in which is quoted at 130/- per cwt. for dressed seed. Values to farmers range from 9d a lb. A fair amount of cowgrass is being offered but quality is mediocre. From 7d to 9d a lb covers quotations to fawners. Perennial ryegrass is also inquired for, and for 27-281 b seed 5/- to 5/3 a bushel is available. FOREIGN EXCHANGE. (United Press Assn.—By Telegraph—Copyright.) London, May 24. The exchange rates on London are as

METAL MARKET. (Rec. 9.30 p.m.) London, May 24. Copper: Spot £63 16/3; forward £63 18/14. Electrolytic: Spot £67 15/-; forward £6B 5/-. Wire Bars: £6B 5/-. Lead: Spot £2O 11/3; forward £2O 18/9. Spelter: Spot £25 15/-; forward £25 10/-. Tin: Spot £230 1/3; forward £229 13/9. Silver: Standard 28? d; fine 31 3-16 per ounce.—Australian Press Association. MELBOURNE MARKETS. Melbourne, May 25. Wheat.—Practically at a standstill with 3 scarcity of sellers. Parcels, 5/8, 5/84; alongside the steamer. Flour.—£l3 2/6 to £l3 7/6. Bran.—£6 15/-. Pollard.—£B 10/-. Oats. —Quiet. Good milling 3/11, 4/-. Parcels 4/2. Barley.—Good English malting, 5/-, 5/3; Cape 4/-. Potatoes.—Easier, £3 10/-, £3 15/-. Onions.—Firm. Brown Spanish, £ll. Australian Press Association. LONDON MARKETS. London, May 24. The Themistocle’s Victorian apples realized the following prices: Jonathans 10/-, 12/3; Rymers 9/6, 10/9; Romes 10/-, 11/3; champions 9/- to 10/6. The Medico’s Tasmanian pears brought the following prices. Trays—Boses 5/3, 7/6; Clairgeau 3/-, 4/6; Wintercoles 3/3, 4/-; cases—Bose 14/-, 18/3; Clairgeau 13/-, 14/3; Vicar 9/-, 11/6. Sugar—Granulated 28/-. Wool.—Bradford has a better tone. Prices are fully maintained, but business is small. Tops, 64’s, 524 d; 60’s, 514 d; 56’s, 42d; 50’s 324 d; 46’s, 27d; 40’s 254. Butter.—The market is quiet. Australian and New Zealand unchanged; Danish 167/-; owing to the heavy increase of production it is expected to decline further. Cheese.—The market is steady. New Zealand 96/- to 97/-; Australian 94/-. Gold.—B4/11 per oz.—Australian Press Association. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of the 24th instant:— FROZEN MEAT MARKET. New Zealand lamb market firmer, demand fair. New Zealand mutton market firmer, demand runs principally on heavy-weights. New Zealand beef market firmer, demand active. New Zealand lamb and mutton advance established. Prospects appear favourable for some time to come. Beef uncertain. Depends upon shipments from South America.

New Zealand prime lamb 281 b to 361 b Canterbury, 10]d; North Island lOd; 361 b to 421 b Canterbury 9gd North Island 9gd; second quality, Canterbury 9gd; North Island 9gd; 421 b to 501 b Canterbury 9 Id; North Island 9jd; mutton 481 b to 561 b Canterbury 7gd; North Island 7£d; 561 b to 641 b Canterbury North Island 64d; 641 b to 721 b Canterbury 6gd; North Island 6£d; prime ewe 481 b to 641 b Canterbury sgd; North Island sgd. New Zealand Prime ox beef, hinds 6d; fores 4jd. Argentine Chilled Beef—hinds 8d; fores 44d. English and Dutch Pork, 801 b to 1001 b 104 d. New Zealand Porkers, 801 b to 1001 b 6Jd; 1001 b to 1201 b 64d. DAIRY PRODUCE MARKET. Butter.—Market steady, but quiet. We quote Danish 172/- to 176/-; New Zealand finest salted 166/- to 170/-; finest Australian unsalted 158/- to 162/-, salted 156/to 160/-; general average quality Australian 150/- to 152/-. Cheese.—Market quiet, we quote Australian white 93/- to 95/-, coloured 93/- to 95/-; New Zealand white 96/- to 97/-; New Zealand coloured 96/- to 97/-; Canadian cheese, white 110/- to 114/-, coloured 108/- to 112/-. LONDON WOOL SALES, The New Zealand Loan and Mercantile Agency Company, Limited, report having received the following cablegram from their London House under date 22nd May:—The sales closed with a fairly firm tone to-day. As compared with last sale’s closing rates, prices are lower about par to 5 per cent, for scoured Merino, greasy Merino, inferior and medium greasy crossbred, lower about 5 per cent, to 74 per cent, for fine and medium crossbred slipc and 5 per cent for fine greasy crossbred. Others are unchanged.

follow:— May 7. May 24. Paris, fr to £1 .. .. 124.02 124.02 Brussels, belgas to £1 .. 34.95 34.99 Oslo, kr to £1 18.23 18.23 Stockholm, kr to £1 . 18.20 18.20 Copenhagen, kr to £1 .. 18.20 18.29 Berlin, rchmkn to £1 .. 20.40 20.39 Montreal, dol. to £1 . 4.88 1-32 4.88 13-16 Yokohama, pence to yen 23 1-16 22 1-16 Hong-Kong pence to dol. 24 5-32 25’1 Calcutta, pence to rupee 18 IS 1-32 Batavia, gldr to £1 . Rome, lire to £1 .. .. 12.101 12.12 92.63 92.67 Amsterdam, gldr to £1 12.90:1 12.095 Prague, kr to £1 .. .. 164'1 —Australian Press Association. 1645