COMMERCIAL

Southland Times, Issue 20524, 28 June 1928, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At a meeting of the Stock Exchange held yesterday the lollowing prices were quoted: Bank of Australasia: b £l4 13/6. Commercial Bank: b 29/5, s 29/8. E. 8. and A. Bank: b £8 11/-, s £8 12/-. National Bank of New Zealand; b £7 4/-. Bank of New South Wales: s £5O. Bank of New Zealand: b 59/-, s 59/6. Union Bank of Australia: b £l4 18/-, s £l5. Westport Coal Co.: s 30/9. National Insurance: b 15/9, s 16/-. New Zealand Insurance: s 42/6. South British Insurance: s 61/6. Standard Insurance: b 63/6. Goldsbrough Mort Co.: s 51/6. National Mortgage: b 77/6. Wright, Stephenson and Co.: (pref.) 0 15/4.

N.Z. Refrigerating Meat Co.: (20/-), b 18/-. (10/- pd.) b 8/7, s 8/11. Southland Frozen Meat Co.: (£1 ord.), b 33/3, (10/-. ord.) b 16/6, (£1 pref.) b 33/3. Mt. Lyell Mining Co.: b 32/6. Electrolytic Zinc: (ord.) b 30/9, (pref.) b 32/6, s 33/-. Huddart-Parker: (ord.) b 48/-. Union Steam Ship Co.: (pref.) b 20/3. Bruce Woollen Mills: b 12/3, s 13/6 Kaiapoi Woollen Mills: (pref.) b 14/-

Mosgiel Woollen Mills: b £6 15/-. Wellington Woollen Mills: (ord.) b £6 5/-. Dominion Rubber Co.: s 32/6. Milburn Lime and Cement: s 32/9. N.Z. Drug: b 68/-, s 69/-. N.Z. Farmers’ Fertilisers: b 88/-. N.Z. Guarantee Corporation: b 8/6, s 8/9. N.Z. Milk Products: b 22/-, s 23/-. Wilson’s (N.Z.) Portland Cement: b 36/-. Dominion Investments: b 22/6. War Bonds, 1930: b £9B. Inscribed Stock, 1938: b £9B. War Bonds, 1938: b £9B. Inscribed Stock, 1939: b £9B. War Bonds, 1939: b £9B. P.O. Inscribed Stock, 1929: b £9B. Soldier Settlement Loan Bonds, 1933 (5£ per cent.): b £lOO 5/-. Sales were reported of Commercial Bank at 29/6, Southland Frozen Meat (£1 ord.) at 33/6, (10/- ord.) at 16/9, (£1 pref.) at 33/6, Soldier Settlement Loan Inscribed at £lOO 10/- and Mahakipawa (1/- pd.) at 3/11. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, June 27. Sales on ’Change: Bank of New Zealand 59/3; New Zealand Insurance 42/3; South British Insurance 60/-; Taupiri Coal 26/-; Kauri Timber 19/-; New Zealand* Breweries 41/6; Grey and Menzies 10/2; Waihi 11/8, 11/9. Christchurch, June 27. Sales on ’Change: New Zealand Breweries (bonds) 22/7; Bank of New Zealand 59/2, 59/-; British Tobacco 43/5; Mahakipawa 3/11 (3 parcels), 3/9, 3/8 (3 parcels) Sales Reported: South British Insurance 60/-; National Mortgage (cum. div.) 79/-. ADDINGTON STOCK SALE. Christchurch, June 27. At the Addington market entries were much larger to-day in the main sections of stock, especially fat cattle and fat sheep. Store Sheep.—A heavier entry, mostly mediocre class, with occasional pens of good ewe hoggets and wethers. Good stuff sold firmly at last week’s rates, but backward conditioned was slacker. Extra good halfbred ewe hoggets 34/- to 37/-; good halfbred ewe hoggets to 32/-; backward three-quarter-bred ewe lambs to 26/6; backward half-bred wether lambs to 22/6; extra good 4, 6 and 8-toothed half-bred wethers to 36/5; good 6 aqfl 8-toothed llfclf-bred wethers 31/- to 33/-; ordinary 4, 6 and 8toothed half-bred wethers 27/6 to 29/6; backward 4, 6 and 8-toothed half-bred wethers 25/- to 26/6; aged half-bred ewes 17/6 to 19/- ; poor conditioned 4, 6 and 8toothed threequarter-bred ewes to 25/-. Fat Lambs.—An entry of 1,485 head and a brisk sale for good sorts at scheduled rates, unfinished lambs being slightly easier. A few pens of show lambs made 44/- to 50/-; extra prime 38/6 to 41/-; prime 34/6 to 38/-; medium 26/6 to 30/-; light 23/to 26/-. Fat Sheep.—A very heavy entry, no doubt on account of it being one of the final sales for export for the season. It comprised 13} races, the bulk of better quality than usual. The market hardened throughout, ewes being better by 1/6 to 2/- a head than at the start of the sale and wethers by 1/- to 1/6. It was the best sale of the year. Extra prime wethers to 49/10; prime wethers 39/- to 42/6; medium wethers 34/6 to 38/6; light wethers 30/- to 34/-; extra prime ewes to 42/10; prime ewes 33/- to 36/6; medium ewes 28/6 to 32/-; light ewes 23/- to 28/-; aged ewes 18/- to 22/-. Fat Cattle.—The heaviest entry for some months, 615 head. An irregular market, but an easing tendency, particularly for big plain steers, which were down on last week by 30/- to 35/- per head. Good medium weight steers and heifers and the best of the cows were easier by about 10/to 15/- a head. Bast beef 37/- to 39/-; extra to 40/- per lOOlbs; good heifer 36/to 38/-; cow 34/- to 36/6; ordinary 28/to 31/-; heavy steers 31/- to 34/-; and rough cows down to 25/-. Extra prime heavy steers to £2O 17/6; prime heavy steers £l5 15/- to £18; medium weight prime steers £l4 10/- to £l6 10/-; ordinary quality steers £9 10/- to £l4; light steers £8 to £9 10/-; extra prime heifers to £l4 17/6; prime heifers £lO to £l2 5/-; ordinary heifers £8 5/- to £9 15/-; light heifers £5 10/. to £8; extra prime cows to £l4 12/6; prime cows £9 10/- to £l2; ordinary cows £7 to £9; aged cows £4 15/to £6 15/-. Vealers.—The smallest entry for months and an advance In prices. Yearling to 18 months’ sorts to £8 10/-; vealers £4 5/to £7 5/-; inferior 35/- to £3 5/-; calves 15/- to 30/-.

Store Cattle.—A very small entry. Good cows £4 5/- to £5 10/-; old cows 25/- to £2 5/-; bulls £4 to £9 10/-. Dairy Cattle.—A large entry of medium sorts and a drop in values, passings being frequent. Best second to fourth calvers £lO to £l2 10/-; medium £7 to £9 10/-; inferior £5 to £6 10/-; extra good heifers to £ll 5/-; others £4 to £7 10/-; spring calvers £4 to £6 10/-.

Fat Pigs.—A small entry of both porkers and baconers and an advance in values, especially af baconers. Light baconera £3 10/- to £4 7/6; heavy baconers £4 10/to £5 10/-; extra heavy to £5 18/-; average price per lb. 6|d to 7|d; choppers £2 to £6 18/6; porkers 35/- to 47/6; heavy porkers 50/- to 56/6; average price per lb 6}d to 7|d. Store Pigs.—A small entry with a marked improvement in prices. Slips 9/- to 13/-; small stores 13/6 to 16/-; medium stores 18/- to 22/6; large stores to 29/-. BURNSIDE STOCK SALE. FAT SHEEP CHEAPER. Dunedin, June 27. Fat sheep were a shade cheaper at the Burnside stock sales to-day, but this can be accounted for by the uneven lot yarded. Fat cattle showed little difference from last week’s rate, heavy stuff and cow beef being a little dearer, but other lines remaining firm and only the best types of pigs sold at all well. The fat cattle yarding was very mixed in quality and numbered 235 head. The proportion of cows was large, and included some good heavy stuff. Prime steers and exceptional heifers were in evidence, but plain heavy bullocks were commonest. Prime ox beef made up to 44/- per lOOlbs; unfinished 40/-; prime heifers 40/- and cows and light heifers 30/- to 32/6. About 2,500 fat sheep were penned, comprising mostly ewes and trade wethers. The

sale from the outset was dull and although it firmed a little in the closing stages the last race saw no remarkable increase in the market. Extra heiGy wethers made to 57/6, prime to 47/-, light prime to 37/6 and ewes from 18/6 to 43/6. Prime wether mutton made 6d to 6}d per lb, prime ewe 5d to sid and aged ewes 4}d. About 1,000 lambs of mixed quality, including many unfinished sorts, met with an unchanged market. Exporters were keen to get all killable lines. The average price per pound was about 12d. A store cattle yarding of 260 head of medium quality stuff met with a quiet demand. The majority of the entry were young stock. Steers made from £8 to £9 15/- and cows remained firm at late rates. The pig entry numbered 218, of which there were 104 fats and 114 stores. Fats were cheaper than last week and only the best stores showed any improvement. FAT STOCK FOR EXPORT. Wellington, June 27. The New Zealand Meat Producers’ Board advises that the following prices are being offered for fat stock for export at June 25, 1928: Canterbury, prime woolly lambs, 36’s and under, 12}d; 37 to 421bs, ll|d; 43’s and over, lljd; second quality, lambs ll}d. GRAIN AND PRODUCE REPORT. Messrs Dalgety and Co., Ltd., Dunedin, report as follows: — Oats: This market is weak, there being little inquiry for grade oats, and the firmer tone in the North reported in our last week’s issue did not reflect locally. There is some sale for undergrades, and in fact most of the business passing is for this class of oats. The North Island also are taking a fair proportion. Few samples are arriving from the country, and now we are quite safe in assuming that there are very few oats left in growers’ hands. Values are:— A Gartons 3/4; B Gartons 3/-, on trucks, country sidings, sacks extra. Wheat. —Several parcels of milling wheat were offered during the week, but millers are disinclined to offer, as they are all holding large stocks. Some business, however, has been transacted for August-September delivery, but in the majority of cases this does not suit the farmers as they are anxious to get the grain away and avoid taking into store. Tuscan is worth to 5/8 per bushel, on trucks, Hunters to 6/- and Velvet to 6/6, according to quality. The supply of fowl wheat offering is in excess of the demand and sales are difficult to effect. Best quality is realizing 5/9 ex store, sacks extra. Potatoes.—The market took a sudden turn towards the end of the week, due to the wet weather preventing digging, and those shippers who sold for June delivery were unable to fulfil their commitments. Tubers are still hard to procure, and are worth to-day round about £6 ex truck. Chaff.—Last week a good quantity of both northern and Otago district chaff arrived, but the major portion of this was taken ex truck, with the result that all local feeders are now well supplied. Some vendors have also forwarded some for storage, ; in anticipation of increased prices later. We quote: Good bright oaten-sheaf £5 10/- sacks extra. GRAIN REPORT. Messrs Donald Reid and Co., Ltd., Dunedin, report as under:— Oats.—Little business is passing at present though the market has every appearance of improving very shortly. Inquiries from Australia have led to the sale of a fair parcel of Algerians, and this should have on effect on the B grade market which has been notoriously quiet this season. The above is the first business done with Australia this season. We quote, A grade Gartons, 3/4; B grade 3/-, sacks extra, on truck, country stations. Wheat.—Very little first grade wheat ie offering from the country although a good deal still remains in store. No. 2 quality and fowl wheat is in larger supply than usual, and the market for this grade is easier. Farmers are not at all keen on accepting millers’ offers for their first grade stocks and little business is eventuating. Tuscan is worth from 5/6 to 5/8; Hunters 5/10 to 6/-, with Pearl, rarely offering, 6/6. Fowl wheat is in plentiful supply, and lair quality is worth 5/9 sacks extra, ex store, Dunedin.

Chaff.—This produce is a negligible article in the produce business these times. A bad stretch of weather when cutting is impossible, may make stocks scarce and prices rise in sympathy, but business is back to normal as soon as a few trucks come to hand. The stores were well stocked during the recent bad weather, and consequently prices did not vary to any extent. To-day prime is still worth £5 5/- to £5 10/-, ex truck; medium £4 to £4 10/-, ex store; and inferior from £3 10/- upwards, sacks extra, in each case.

Potatoes.—The wet weather in the north has interfered with digging operations which are in full swing usually at this time of the s’ear. The local and south crops have mostly all been delivered into store. These, however, are not all sold; some of the holders are storing until prices improve further. Value to-day for best tables is round about £6, ex truck, sacks in, with blighted and poorly graded lines hard to dispose of.