COMMERCIAL

Southland Times, Issue 20618, 17 October 1928, Page 2

COMMERCIAL

WALLACETOWN STOCK SALE. PRICES REMAIN FIRM. GOOD QUALITY STOCK YARDED. Although the yardings in practically all sections at the Wallacetown stock sale yesterday were smaller than those of a fortnight ago, the quality showed an improvement in several sections and the demand remained keen with consequent firm prices. Yesterday’s yarding as compared with that of a fortnight ago was as follows:

Yesterdays yarding included six iar lambs, seven vealers and 35 dairy cows. STORE CATTLE: The yarding was a smaller one than that of the previous fixture, but the sale was quite a good one. Two-year-old steers sold at from £6 5/- to £7 4/-; yearling steers £3 10/- to £3 16/-; 2-year-old empty heifers from £3 10/- to £4 5/-, fresh-conditioned empty cows from £4 to £4 15/-, poorer conditioned sorts from £2 15/- to £3 10/-. The dairy section was smaller than for some sales past, but there was a keen demand for anything just calved or close to calving showing quality. The price obtained in this class was from £lO 10/- to £l2 10/- and for poorer conditioned sorts £7 to £8 10/- with the usual non-descripts from £3 10/- to £5. FAT CATTLE: The yarding in this section was hardly as large as at previous sale, but the quality was probably of the highest standard yarded for some time, more especially amongst bullocks and heifers. The sale was a good one and showed a slight advance on recent offerings. One very fine bullock realized £25 15/- which was the top price for the day. Good prime ox beef made from £l7 to £l9, good handyweights from £l4 to £l6 5/-, lighter and unfinished sorts £lO 10/- to £l2 7/6. Good heavy prime quality heifers sold at from £l5 to £l6 10/-, good medium weights from £l2 to £l4 5/-, lighter sorts from £9 10/- to £ll. Good quality heavy cows realized from £l3 to £l6 12/6, good medium weights from £lO to £l2 5/-, lighter and unfinished sorts from £7 to £8 15/-. There was a small yarding of medium quality vealers which sold at from 30/- to 50/-. STORE SHEEP: The yarding was a small one and comprized some mixed sex hoggets, and a pen of ewes and lambs the latter realizing 14/-. Some medium wether hoggets brought 27/- and a line of mixed sex Border Leicester cross 29/9. Mixed sex hoggets of inferior quality sold at 26/7.

FAT SHEEP: The yarding in this section was a medium one in numbers and consisted almost wholly of wethers of good quality. Prices were on a par with recent sales and the demand was keen practically the whole of the yarding being cleared at auction. Extra prime wethers realized up to 51/9, prime wethers from 42/- to 45/-, medium weights from 39/- to 42/-, lighter and unfinished sorts down to 36/-. Ewes, of which only a few pens were yarded, sold at from 36/- to 37/9. McNAB STOCK SALE. YESTERDAY’S MARKET. The brilliant sunshine which prevailed for the usual fortnightly stock sale held in the McNab yards yesterday, it is to be hoped, heralds brighter prospects for the man on the land. Weather conditions generally have been very bad. but with a short spell of seasonable warmth, growth should be stimulated and the farmer enabled to proceed apace with the usual round of spring duties, secure in the knowledge that ample feed will be available to tide him over the lambing period. ./ The heavy rainfall experienced during the past week an dthe consequent flooding of a good deal of land in the vicinity of Gore probably accounts for the small yarding, and the poor demand for both the sheep and cattle which were on offer yespast week and the consequent flooding of terday, and, as regards the first-named class, of the dozen lines penned only one found a market, the rest being passed in at values showing a marked decline on late rates. No fats were penned, the yarding being restricted to wethers of mixed ages and a couple of lines of ewes with lambs. The Southland Farmers’ Co-operative Association, Ltd., disposed of one of the pens of ewes with lambs at 15/-. Cattle. There was a big percentage of young cattle yarded, together with two or three dairy cows at profit or in milk, but the bulk of the offering was retained by vendors and the only lines which changed hands were pens of two-year-old steers and springing heifers. The following were the sales:— J. E. Watson and Co., Ltd., offered and passed in: 15 store wethers 27/-, 80 wether hoggets 26/-. Wright, Stephenson and Co., Ltd.: Four store steers £4 1/-, springing heifer £3 15/-. Passed in: 15 store wethers 27/-, 8 2 and 4-tooth wethers 28/-, 4 springing heifers £3 5/-, cow in milk £4 2/6. New Zealand Lian and Mercantile Agency Co., Ltd., offered and passed in: 15 store wethers 26/-. National Mortgage and Agency Co., Ltd., offered and passed in: 64 wether hoggets 26/2, 65 ewes with 69 lambs 12/11 (all counted). Southland Farmers’ Co-operative Association, Ltd.: 40 ewes with 41 lambs 15/- (all counted). Passed in: Cow and calf £5. Dalgety and Co., Ltd., offered and passed in: 80 2 and 4-tooth ewes 27/-. TOKANUI SALE. Messrs Dalgety and Co. report:—A small yarding of both sheep and cattle came forward for the monthly stock sale held at Tokanui on Monday. There was § fair attendance of farmers and prices maintained late rates. We sold 52 fat wethers at 45/and 31 yearling steers and heifers at £4 6/-. CANTERBURY MARKETS. POTATOES CHIEF SOURCE OF INTEREST. Christchurch, October 16. Potatoes still impart interest to the produce markets though there are signs of the keenness of present interest not being long sustained. The Wingatui which left on Saturday took approximately 7300 sacks, of which about 6000 sacks were from Lyttelton and the remainder from Timaru. Included in the shipment were seed and undergrade table qualities, an indication that supplies are nearing an end. The price is still high. £ll to £ll 5/- f.0.b., s.i., is quoted. It is difficult however x to get quotations from any strong holders and potatoes in any quantity are very hard to find. Wellington and Palmerston are still asking for potatoes but inquiries from Auckland have almost ceased. Wheat remains firm, the latest quotations being 5/8 to 5/9 to farmers, good milling grade, No. 2 grade, 5/5 to 5/6, Hunters 6/-. Oats are quoted at 4/- for A Gartons and B’s 3/5 f.0.b., s.i. Chaff is worth £3 15/- to £4. Seeds and other produce lines are unchanged. GRAIN REPORT. Messrs Donald Reid and Company, Ltd., Dunedin, report as under: —• Oats: Nothing of interest transpired during the week and the market remains in the same lifeless condition. Farmers are not holding any stocks in the country, but there is a fair quantity still lying in store. The bulk of these are probably undergrade. This grade can only be sold for horse feed for which there is now a limited demand. Millers are not inquiring; apparently they have sufficient stocks to keep them going until the new season’s crop is available. Nominal values are A grade 3/2,

B grade 2/9, undergrade 2/4, sacks extra, on truck, country stations. Chaff: Consignments have not been arriving so freely due to farmers being engaged with the necessary spring duties. The demand, however, never gets beyond the supply and values vary little. Five shillings per ton would cover any rise and this would drop immediately a few trucks came to hand. Merchants are cleaning all store stocks in preparation for wool storage, and sales will now be confined to ex truck. Value to-day is £5 10/-, sacks extra, ex truck, for prime quality; £5 15/- is being obtained ex store, for the same grade. Wheat: Very little of last season’s crop now remains unsold, and though prices have firmed approximately Id per bushel, there are no offerings. A few sales have taken place ex store, and little now remains in store to be disposed of. The new season’s crop has practically all been sold at prices equivalent to last year’s, though some of the wheat has not yet been planted, the sales being based on the acreage system. If the present windy weather continues the crops will suffer considerably, especially in Central Otago. Fowl wheat Is also firmer, and poultry merchants are picking up sufficient to see them into the new year. Milling values are Tuscan 5/9, Hunters 6/-, Velvet 6/6, sacks extra, on truck, country stations. Potatoes: These have now reached peak prices and there is a falling-off in the demand to be noticed. Housewives are buying other vegetables very cheaply. Odd consignments are arriving on the market. These comprise from one bag up to truck loads. Farmers are taking advantage of the present prices and sending forward everything they can spare. Some growers have the mistaken idea that anything they like to send forward will bring big money. Badly blighted and small potatoes are only pig feed and will be sold at that value. Best tables are readily sold at £l2 per ton, sacks in, ex truck, Dunedin. GRAIN AND PRODUCE. Messrs Dalgety and Co., Ltd., Dunedin, report as follows: Oats: This market has shown some little improvement, due, we think, to forward sellers having to fulfil their commitments. This is having the effect of clearing out some of the grain held in stores, which in any case would have to be out shortly to provide room for the wool. Values remain at: —A Gartons 3/2, on (rucks, country stations, sacks extra; B Gartons 2/9, on trucks, country stations, sacks extra. Wheat: Some business has been done in Otago for next season’s wheat on the basis of 6/- for Tuscan, 6/2 Hunters, and 6/6 Velvet 0.t., for a handy railage. The early start is due to the decision arrived at with Distributors, Ltd. There is little of the old crop offering and sales have been made at 5/9 o.t. Fowl wheat of good quality is scarce, and it worth to 5/11 ex store, sacks extra. Potatoes: Merchants are only buying from hand to mouth and owing to the sharp rise and the lateness of the season will no doubt continue to do so. Sound tubers are to-day worth £l2 ex truck, sacks included. Chaff: The quantity of prime quality coming forward has been small, and owing to the adverse weather conditions cutting has been delayed. Prime quality is realizing £5 10/- ex truck, with poor quality very difficult to quit at about £4. FOREIGN EXCHANGE. London, October 15. The exchange rates on London are as

WHEAT CARGOES. (Rec. 5.5 p.m.) London, October 15. Despite week-end American easing, wheat cargoes are steady at late rates, but buyers are indifferent. Six thousand tons of an unnamed shipment being sent to India are quoted at 46/- to 46/6. Parcels are in quiet request. Liverpool Futures: October 9/3f; December 9/3; March 9/3; May 9/3g per cental.—Australian Press Association—United Service. BRADFORD MARKET. London, August 15. The Bradford market shows a better tone but business is still scarce.—Australian Press Association. DAIRY PRODUCE. Messrs A. S. Paterson and Co., Ltd., report having received the following cable from their principals, Messrs J. and J. Lonsdale and Co., Ltd., London, dated 12th inst: —Butter, demand keeps dull. Danish 198/-; New Zealand 177/-, 180/-; Australian 166/-, 170/-; Siberian 168/-, 150/-. Cheese, no improvement, 108/-, 110/-. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. Auckland, October 16. Sales on ’Change: Auckland Gas Debentures (1935) 65 percent. £103; Commercial Bank of Australia 30/14; Union Bank of Australia £l5 7/6 ; Hikurangi Coal 5/9 and (pref.) 10/8; Pukemiro Colleries 69/-; Northern Steam Ship (cont.) 9/9; New Zealand Breweries.‘Ltd., 54/-; Burns-Philp and Co. 44/3; Waihi Gold Mining 14/2. Wellington, October 16. Sales reported:—4| per cent. Stock (1938) £99; Wellington Gas (ord.) 30/-; Wellington Gas (pref.) 16/3; Pukemiro Collieries 69/-; Staples and Co. 38/11. Christchurch, October 16. Sales on ’Change: Bank of Adelaide (cum. div.)* £9 19/- (2 parcels) ; Commercial Bank of Australia 30/11; New Zealand Refrigerating (10/- paid) 8/6 (2 parcels); New Zealand Breweries 55/3 (2 parcels) ; British Tobacco 43/10 (2 parcels) ; Mahakipawa 1/7 (3 parcels), 1/8 (11 parcels), 1/7 (13 parcels). Sales reported: Union Bank of Australia £l5 7/6, £l5 6/6; New Zealand Refrigerating (10/- paid) 8/7; Burns, Philp (cum. div.) 44/-; Colonial Sugar £62 12/6. Dunedin, October 16. Sales on ’Change: Union Bank £l5 7/-; Commercial Bank of Australia (ord.), 30/2.

lai oi a lonmgi Oct. 16. Oct. 2. Store Cattle .. 159 241 Fat Cattle .. 226 249 Store Sheep .. 151 129 Fat Sheep .. 847 962 Yesterday’s va

follow: — May 7. Oct. 15. Paris, fr to £1 .. .. 124.02 124.19 Brussels, belgas to £1 .. 34.95 34.89 Oslo, kr to £1 18.23 18.20 Stockholm, kr to £1 .. 18.20 18.14 Copenhagen, kr to £1 . 18.20 18.20 Berlin, rchmkn to £1 . 20.40 20.37 Montreal, dol. to £1 . 4.88 1-32 4.85S Yokohama, pence to yen 23 1-16 22 11-16 Hong Kong, pence to dol.24 5-32 24S Calcutta, pence to rupee 18 18 1-32 Batavia, gldr to £1 . 12.104 12.09 Rome, lire to £1 .. .. 92.63 92.68 Prague, kr to £1 .. .. 1641 1635 Amsterdam, gldr to £1 12.091 12.10 —Australian Press Association.