COMMERCIAL

Southland Times, Issue 20619, 18 October 1928, Page 2

COMMERCIAL

ADDINGTON MARKETS. INCREASED ENTRIES. FIRM SALE OF FAT CATTLE. Christchurch, October 17. There were increased entries at the Addington market to-day, and also in fat lambs, while the offerings of fat and store sheep were about the same as the previous week. There was a firm sale of fat cattle, especially for primest sorts, of which there was not a large number penned. Fat and store sheep showed no change in values, though there was a rather better inquiry for the latter owing to the number of fat lambs penned being double that of the previous week. Prices eased a few shillings per head. There was a good sale for store cattle, among which were several lines of young stock. In the pig sections porkers sold better than baconers and stores made a good recovery in values. The numbers of store sheep penned were about the, same as the previous week, but the quality of the better lots was not so good. Showers of rain during the weekend which freshened up the pastures resulted in a better inquiry for all classes of sheep, although there was practically no change in prices except in the case of ewes and lambs which were somewhat dearer Values were:—Good halfbred ewe hoggets 37/-; good three-quarterbred ewe. hoggets 32/6 to 35/6; crossbred wether hoggets to 28/6; shorn halfbred hoggets 18/3 to 21/6; good 4, 6 and 8-tooth three-quarterbred ewes 34/- to 35/6; halfbred ewes and lambs 19/- to 20/3, all counted; good woollcd halfbred wethers. 32/6 to 33/6; crossbred wethers 28/- to 32/-; shorn wethers to 26/8. The number of spring lambs penned was 240. As numbers largely regulate the prices of lambs at this time of the year, there was a drop of 2/6 to 3/6 per head, and in some cases even more. Best lambs sold at 37/to 39/3; good 34/6 to 36/3; medium 30/to 33/6 and small 27/9 to 29/6. The entry of fat sheep was sufficient to fill ten and a-half races. The quality was again good. The market opened a little easier, but soon firmed up to the previous week’s prices. In some cases shorn wethers sold better than sheep in wool. Values were: —Extra prime wethers to 50/10; prime wethers 43/- to 47/6; prime medium weight wethers 37/- to 42/-; medium and unfinished 30/10 to 35/-; shorn wethers 25/1 to 40/4; extra 'prime ewes to 48/4; prime ewes 36/- to 40/-; medium ewes 28/to 35/-; aged and inferior ewes to 27/6; shorn ewes 33/10 to 36/10; hoggets 29/10 to 44/1. There was an increase in the offerings of fat cattle, the totpl being 435 head. There was a moderate proportion of prime quality steers and a very large part of the yarding was made up of cows and heifers. The market opened quite up to the previous week’s rates and in some cases prices were rather better. It remained very firm throughout, all very prime steers of which there was not a large supply, being keenly competed for and showed an advance on the previous week’s prices. Good cows and heifers also sold well. No extra prime beet sold under 50/- j>er lOOlbs. Average prime beef was equal to 45/- to 48/-; medium 39/6 to 43/-; plain heavy steer 36/6 to 41/-; prime cow and heifer beef 44/- to 41/6; medium 39/6 to 43/- and rough down to 30/- per lOOlbs. Values were:— Extra prime steers to £2l 17/6; prime steers £lB 10/- to £2O; medium steers £l6 10/to £lB 5/-; ordinary steers £l3 7/6 to £l6 5/-; extra prime heifers to £l7 12/6; prime heifers £l4 to £l6; ordinary heifers £7 12/6 to £l3 10/-; extra prime cows to £l6 12/6; prime cows £l3 to £l5 5/-; medium cows £9 10/- to £l2 10/-; aged and inferior cows £6 17/- to £9.

There was a large entry of vealers, a considerable proportion being yearlings to two-year-olds. Values were:—Yearlings of two-year-old sorts sold to £9 1/-; good vealers £6 10/- to £8 • 15/-; medium vealers £3 10/- to £5 15/-; small calves 20/- to £2 15/-. There was a larger yarding of store cattle than has been the case of late. A good proportion consisted of yearlings to two-year-olds raised from dairy herds and were light in condition. The balance of the yarding was made up of cows. There was a good demand for all classes, especially for the young cattle. Values were:—Two and a-half to three-year steers £7 15/- to £8; two-year steers £6 10/-; yearling steers £4 10/-; good yearling heifers £53/6; two to three-year heifers £5 to £6; best cows £5 to £7; medium cows £3 to £4 10/-; inferior cows 30/- to £2 10/-.

Of a medium entry of fair quality dairy cattle, only better sorts were in demand. Values were:—Good second, third and fourth calvers £lO to £l2, 15/-; medium sorts £7 10/- to £9 10/-; inferior sorts £4 to £6 5/-; heifers £5 10/- to £lO 10/-; aged cows £4 to £6 10/-.

There was a medium entry of baconers and a large one of porkers, the latter being firm at late rates, while baconers were a little weaker. Values were:—Choppers £2 to £4 18/6; light baconers £3 to £3 7/-; heavy baconers £3 10/- to £4 7/6, equal to 53d ,to 64d per lb; light porkers 34/- to 40/-; heavy porkers £2 5/- to £2 17/6; average price 6Jd to 74d per lb. A medium entry of store pigs sold at prices showing a marked advance on the previous week’s sales. Values were:—Small weaners 7/- to 10/-; good weaners 11/to 15/-; medium stores 16/- to 21/-; large stores 22/- to 33/-. BURNSIDE STOCK SALE. SPRING LAMBS EASIER. FAT CATTLE AND SHEEP ADVANCE. Dunedin, October 17. Fat. cattle and sheep sold at, advanced prices at the Burnside sales to-day, the former rising from’2o/- to 30/- per head and sheep about 2/- per head. Spring lambs were easier by several shillings, as also were porkers. Store cattle met a good demand at firm rates. Fat Cattle:—There were 190 in the yarding. The quality for the most part was good, prime bullocks, cows and heifers being featured. The demand opened well and an

excellent sale resulted. Heavy bullocks £24 5/- to £29 15/-; medium heavy £l9 5/to £2O 5/-; medium light £l6 10/- to £l7 15/-; light £l3 15/- to £l4 10/-; heavy cows £l6 to £l7 5/-; medium heavy £l4 5/- to £l5; medium light £l2 to £l3 10/-; light £lO to £l2 5/-; heavy heifers £l5 to £l6 7/6; medium heavy £l3 to £l4; medium light £l2 to £l2 15/-; light £lO 10/to £ll 15/-. Extra heavy bullocks sold on a basis of 48/11; prime light 50/-; prime heifers 48/-; cows and light heifers 35/to 40/- per lOOlbs. Fat Sheep:—The penning of 1,600 was a small entry comprised of good average wethers, a few ewes, a sprinkling of fine wools and a number of unfinished sheep. The sale opened at an advance of 1/- and improved a further 1/-, clearances being made under good competition. Extra special wethers 65/1; prime heavy 54/- to 55/3; prime 48/- to 56/-; medium 40/- to 43/-; light 36/- to 38/6; extra ewes 47/-; prime heavy 36/9 to 40/-; prime 32/- to 34/-; medium 39/- to 30/-. Prime wethers sold on a basis of 7d to 74d; prime ewes 6d; aged ewes 4d per lb. Spring Lambs: —A penning of 38 comprised very fair prime quality, but the demand was easier. Best heavy lambs 38/6 to 40/-; prime 34/- to 36/-; medium 30/to 32/-. Lambs sold on a basis of lOd to 1/- lb.

Store Cattle:—The entry numbered 100, made up of young mixed cattle, an odd pen of three-year-old steers and a few cows. There was a good demand, medium three-year-olds making £lO 7/6; one and a-half-year-olds £6 2/6; yearlings £3 5/- to £4. Pigs:—Fat pigs which were 149 comprised mostly porkers, which met with an easier demand. Baconers were firm, while the 153 stores were unchanged. Prime baconers sold on a basis of 63d and prime porkers 7}d per lb. DAIRY PRODUCE. Messrs Henderson and Co., Ltd., report having received a cable from their London principals, Messrs Lovell and Christmas, Ltd., to the effect that butter and cheese prices were unchanged since the last report, but trade was very dull. N.Z. STOCK EXCHANGE ASSOCIATION. ANNUAL MEETING. Dunedin, Octobe 17. The annual meeting of the New Zealand Stock Exchange Association was held today in the Dunedin Stock Exchange call room. Mr Harman Reeves presided over delegates from the Auckland, Wellington, Christchurch, Invercargill and Dunedin exchanges. In welcoming the delegates, Mr Reeves (the retiring president) said he was glad to hear from conversations with the delegates that business generally had been goad during the. year. At the time of the last conference New Zealand was recovering from a financial depression. The position was now reversed, exports exceeding imports by many millions. That had caused a considerable improvement in their business. While business on the exchanges had been good, trade generally in the Dominion had been dull. Mr Reeves thanked the members for the ready acceptance of his decisions during the year. In concluding, he issued a warning to investors regarding by individuals who had victimized many people. He advised people who were approached by share-sellers to communicate with a member of the Stock Exchange before investing their money. Mr G. C. Creagh (Auckland) was elected president for the ensuing year. STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At a meeting of the Invercargill Stock Exchange yesterday afterndon the following prices were quoted:— Bank of Australasia: b £l4 14/-. Bank of New Zealand: b 61/-. Union Bank of Australia: b £l5 6/-. £onimercial Bank: b 30/-. E.S. and A. Bank: b £8 17/6. National Bank of New Zealand: b £7 2/-. Westport Coal Co.: s 31/-. National Insurance: b 16/-. Standard Insurance: b 64/3. South British Insurance: b 63/-; s 64/-. Dalgety and Co.: b £l5 1/-. National Mortgage: b 84/-. Perpetual Trustees (Dunedin), Ltd.: b 63/-. Goldsborough, Mort and Co.: s 51/6. Trustees Executors (Dunedin), Ltd.: b 59/-. Wright, Stephenson and Co.: (pref.) b 16/-. N.Z. Refrigerating Meat Co.: (20/- paid) s 19/3; (10/- paid) s 9/-. Southland Frozen Meat Co.: (£1 ord.) lx 36/-; (10/- ord.) b 18/-; (£1 pref.) b 36/-. Mt. Lyall Mining Co.: s 35/9. Electrolytic Zinc Co.: (ord.) b 32/-; s 33/-; (pref.) b 33/6. Huddart-Parker Shipping Co.: (ord.) b 47/6. P. and 0.5. N.. Co.: (def. stock) s £260. Kaiapoi Woollen Mills: (ord.) b 12/9. Mosgiel Woollen Mills: b £7 6/-. Bruce Woollen Milks: b 15/-. Colonial Sugar Co.: b £62 10/-. Wilson’s (N.Z.) Portland Cement: b D.1.C.: (pref.) b 21/-. Dominion Rubber Co.: s 28/6. Milburn Lime and Cement: b 35/-. N.Z. Drug: b 69/-. N.Z. Breweries, Ltd.: (shares) b 54/6; s 56/-; (stock) b 24/-. N.Z. Farmers’ Fertilizers: b 87/6. Dominion Investments: b 23/6. Donaghy’s Rope and Twine: b 33/-. N.Z. Guarantee Corporation: b 8/7; s 8/11. McLeod Bros? Soap: b £3O. N.Z. Sugar of Milk: b 26/6. N.Z. Milk Products: s 23/-. Otago Daily Times: s 80/6. War Bonds: (1930) b £99. Inscribed Stock (1939) b £9£ Soldier Settlement Loan Bonds (1933) (51 per cent.): b £lOl 2/6. Inscribed Stock: (1938) b £99. "War Bonds: (1938) b £99. War Bonds: (1939) b £99. A sale was reported of Inscribed Stock (1938) at £99. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, October 17. Sales on ’Change:—New Zealand Inscribed Stock (1927-41) 5.1 per cent. £99; (19331 5} per cent. £99; Canterbury Farmers’ Co-operative (1940) 64 per cent. £94 5/-; New Zealand Insurance 45/6; Renown Collieries (ord.) 15/-, 15/3; Auckland Gas 23/1; Sanford, Ltd., 18/-; Ohinemuri 6/9. Wellington, October 17. Sales Reported:—Australian Bank of Commerce 33/3; Bank of New Zealand 61/4; National Insurance 16/4; Staples and Co. 38/11. Christchurch, October 17. Sales on ’Change:—Stockton Coal (ord.) 3/6; Ashbfirton Gas £5 11/6; Tooth’s Brewery 48/-; Mahakipawa 1/6 (7 parcels), 1/3, 1/4 46 parcels). Sales Reported:—Standard Insurance 64/9. Dunedin, October 17. Sales on ’Change:—New Zealand Breweries 24/1 (two). Sales Reported:—Union Bank £l5 7/-; National Bank of Australasia £9 13/-; New Zealand Breweries (shares) 55/3 (two) ; New Zealand Breweries (debentures) 24/1.