COMMERCIAL

Southland Times, Issue 20632, 2 November 1928, Page 2

COMMERCIAL

LOCAL MARKETS 1; Times Office, . Friday Morning. ‘ Grain and Produce. Oats: There is now little interest being ‘ shown in this market, as far as Southland merchants are concerned. All farmers ■ holdings have been cleared and merchants have disposed of their surplus stocks, al- I though a considerable quantity is held in : store on account of northern merchants. 1 The f.o.b. value for A’s is from 4/1 to 4/2 1 per bushel, and there are occasional sales at 1 that price. Price to farmers is nominally 1 3/- to 3/1 for A’s with B's 2d per bushel ■ less. ‘ Wheat: The only business being done in 1 wheat is in local sales for poultry feed. Chaff : Supplies are on the short side at , present, due to some extent to farmers be- 1 ing too busy with their spring work to ' cut. Good lines are saleable at £4 10/- ; to £4 15/- per ton. Ryegrass: This market is also quiet. Farmers’ holdings are all disposed of and ‘ merchants’ stocks are very little in excess of their local seed requirements. The whole ■ of the present stocks should be cleared up before the new season’s seed is available. ; In the circumstances it seems likely that there will be a good demand for next season’s seed provided farmers restrict the ' areas which they are shutting up. Value to farmers for good quality lines is 3/8 to 3/9 per bushel. Potatoes: Prices are ruling high just now 1 and as a result the demand is rather quieter. Stocks, however, are exceedingly 1 small and are unlikely to last the usual period. Values to farmers run about £lO per ton on trucks country stations. There 1 is still inquiry for seed potatoes and it is probable that considerable quantities will be put in as planting has been delayed this year owing to the unseasonable weather. Fruit and Vegetables. The market is practically bare of imported fruits at present, exceptions being limited supplies of Canadian apples and Californian grapes. There is plenty of inquiry for bananas, but the next shipments will not come to hand for another week yet, a consignment of Fijis being due on the Bth inst., and a parcel of Samoans, ex the Maui Pomare, about the 9th or 10th. Supplies from both sources are expected to be on the short side. Owing to the keen demand in Auckland, only small parcels of Fijis are coming to Southland, and advices received from the Cook Islands Department are to the effect that allocations ex the Maui •Pomare will be little more than half the quantities received by the previous shipment. Everything points to values ruling high for this fruit. Fruit from Sydney, comprising oranges, lemons apd cucumbers, ex the Kawatiri, is due in Invercargill tomorrow. It is doubtful if there w’ill be any mandarins in the shipment as the reason is late and the fruit will not carry. Adelaide oranges and lemons are due ex Manuka about the 12th inst. Supplies of New Zealand grown apples have been scarce and values have firmed. Pears, ex cool stores, are still coming forward in small parcels, the good samples realizing good prices, but any fruit showing the least signs of speck is difficult to dispose of. Christchurch tomatoes are now coming forward in more regular supplies and values have eased slightly. The first green peas for the season were marketed during the week. The sample was a particularly good one for so early in the season and was keenly sought after. Large quantities of cauliflowers have come forward and contrary to expectations, values improved. This applies tu good samples. Lettuces are in full supply with values steady. All other vegetables are meeting with a good demand. Current prices for the week are approximately as follows:—Christchurch tomatoes —l/6 to 2/6 per lb; Island tomatoes —6d to 1/1; Canadian apples—to 25/- per case; Stunners—to 14/-;. dessert pears—to oranges—to 25/- case; lemons—to 55/-; Californian grapes—to 35/- per keg; cucumbers—B/- to 12/6 doz; asparagus—s/6 to 8/6 doz. bunches; calif lowers—large heads, to 9/6 doz; small sizes to 4/- per sack; cabbages—2/6 to 4/- per doz; lettuces—l/3 to 3/- doz; spring onions—to 2/6 per dozen bunches. Stock Market. There was a very firm sale for fat sheep at Wallacetown on Tuesday last, chiefly j due to the fact that yardings were smaller than those of the previous sale. The demand for prime mutton and beef throughout the sale was very satisfactory, and passings were infrequent. Fat sheep at present appear to be in short supply, yardings of wethers being on the small side, while practically no fat ew’es are offering. The rise in prices at the last Wallacetown sale was due directly to the small numbers offering, the quality being no better than that of the previous yarding. The bulk of the wethers offering are medium to heavy weight, in good condition, with a few lines of extra prime

FINANCE AND TRADE.

sheep and the usual pens of “tailenders”. For heavy well finished sheep, there is a very satisfactory demand, prices ranging I from 51/- to 56/- for the best, and from 47/fi to 50/- for average lines. There is : a very keen sale for prime ewes, and the supply is not equal to the demand. It will . be interesting to see if the smaller yarding and increased prices at last Tuesday’s sale . will result in a larger number of unfinished sheep at the sale to be held in a fort- < night’s time. If this happens, prices are sure to recede, as butchers will not buy unfinished sheep, unless absolutely forced to do so. A few spring lambs are now coming on to the market, and meet with a , fair sale. They are fairly well grown and in quite good condition, but show signs of , having been checked by the cold and wet weather experienced during the spring. There is a very firm market for good heifers and cows, values ranging from 45/to 47/6 per 1001 b. for heifer beef, and from 39/- to 41/- per 100 lbs. for cow beef. The bidding at sales, for well finished beasts, is exceedingly brisk, and the market is in a very satisfactory condition. Good bullocks sell well, values per lOOlbs. being from 42/6 to 45/-, and the market generally displays a very healthy tone. It is noticeable, however, that unfinished beasts meet with a slack demand, and it does not pay vendors to offer rough beef. There is no doubt that the prospects for the beef market • are very bright, and those holding cattle will experience a very satisfactory market for some time to come, especially as there do not appear to be many store cattle in the country. Practically the only store cattle offering are odd lots, for which there is a very good sale. As is usual at this time of the year, the store sheep market is very quiet. Practically the only sales being made are of ewes and lambs, the prices of which range from 12/to 20/-, according to quality and age. Forward sales are being made quietly, prices being on' a par with, and in some cases, a shade higher than, those* of the previous year. The following is a range of prices:— Fat Cattle: Prime heavy bullocks up to £23; good butchers bullocks £l4 to £l7; lighter sorts down to £11; extra prime heifers up to £l7 15/-; medium weights £l2 to £l4 10/-; lighter sorts £9 to £11; extra prime cows up to £l4 10/-; medium weights £9 to £ll 10/-; lighter sorts down to £7; good vealers up to £3. Store Cattle: Three and four-year-old steers £8 10/- to £ll, according to quality and condition; 2 and 3-year-old steers £6 15/- to £8 15/-, according to quality and condition; yearling steers £4 to £5 15/-; sj>eyed and empty cows and heifers £5 to £7 10/-, according to quality and condition; older sorts £3 to £5; good dairy cows £ll to £l3; poorer sorts down to £6. Fat Sheep: Extra prime heavy wethers up to 57/-; good butchers wethers 45/- to 49/-; lighter sorts 38/- to 42/-; prime heavy ewes up ro 37/6; medium weights 28/- to 33/-; prime lambs 26/- to 30/-. Store Sheep: F. and f.m. ewes and lambs 15/- to 18/-; poorer sorts 11/- to 13/6; extra good ewe hoggets up to 41/-; good ewe hoggets 35/- to 39/-; 4 and 6-tooth wethers up to 36/-, according to quality and condition; 2-tooth wethers 32/- to 33/6, according to quality and condition. Market Reports. The Waipiata with sugar and general cargo from Auckland for Bluff will reach port about Sunday or Monday next. Owing to the keen demand for mannite during the last few months, it is impossible to meet orders for loz. and Boz. jars, this is accounted for by a temporary shortage of jars which will be overcome about the middle of this month. Canned corned beef is reported to be in short supply, this is unfortunate at this time of the year as the demand is increasing daily. As the demand increases a rise in price may be expected. Seedless raisins and Sicily almonds are reported to be short in some parts of the Dominion. Low forward prices have no doubt caused a panic amongst some merchants who made a clean sweep of their stocks at a time when the demand is increasing. The sago and tapioca market is undergoing many slight changes. Latest quotations for December shipment shows a slight drop in price. Buyers are not keen to operate as prices are still fairly high. Current Prices. —Wholesale. Eggs, 1/2. Bacon, 1/1. Pollard, £9 5/- : Butter, factory 1/6 and 1/7; separator 1/2. Bran, £7 15/-. Flour, £l7 5/- to £l9. Oatmeal, £2B to 30/-. —Retail.— Eggs, 1/6. Bacon, 1/4 to 1/5. Pollard, 11/- per 100. Butter, 1/7, 1/8, 1/9; separator 1/5. Bran, 9/6 to 10/- per 100. Flour, 25’s 5/9 to 6/3; 50’s 10/6 to 12/3; 100’s 20/6 to 22/9; 200’s 40/- to 41/6. Oatmeal, 25’s 7/6 to 8/9; 50’s 13/6 and 15/6 to 17/-. Cheese, 1/1; matured 1/3 to 1/4. Potatoes, 61b 1/-. Onions, 5d per lb. [The above list of prices is compiled from a range of values obtained from the various merchants in the town. Where prices do not actually coincide a range is quoted.] MATAURA STOCK SALE. The monthly stock sale was held at . Mataura yesterday in fine weather. Owing , to farm work being well behind the attendance was small. Sheep. There was an entry of 400 sheep and no fats were penned. The offering comprised » mostly ewes and lambs which sold at firm [ rates from 14/2 to 18/10 all counted. A pen of aged dry ewes realized 8/-. Sales . were as follows: i Southland Farmers Co-op. Association, Ltd.—Thirty-seven ewes with 38 lambs , 18/10, 78 ewes with 78 lambs 18/8. National Mortgage and Agency Co., Ltd. r Forty old ewes 8/-, 62 ewes with 68 lambs . 14/2. Fat Cattle. > The entry of cattle comprised 24 head. » A few head of fat cows and heifers were ■ included in the entry and these made keen competition and realized enhanced values. Fat cows realized from £8 5/- to £l3, the latter figure being paid for a very prime w animal. Fat heifers changed hands at £5 15/-. In the store pens dairy cows realized from £4 7/6 to £ll 10/-, and dairy heifers from £4 15/- to £7, while store cows made from £3 to £6. Sales were as follows: • Southland Farmers Co-op. Association, • Ltd.—Store cow £3, cow and calf £4 7/6. > Dalgety and Co., Ltd. Dairy heifers £7, £4 15/-. Passed in: dairy heifer £4. Wright, Stephenson and Co., Ltd. —Dairy » cow £ll 10/-. National Mortgage and Agency Co., Ltd. —Fat cows £lO 7/6, £lO 12/6, £8 5/-, £l3, 2 fat heifers £5 15/-, 2 cows and calves • £5 2/6, 6 empty cows £5 5/-, store cow 1 £6 5/-, heifer £3 10/-. Passed in: dairy ’ cow £8 10/-. EASTERN DISTRICT FAT STOCK. BURNSIDE MARKET. i District fat stock offered at Burnside . market on Wednesday realized the following - prices:— Cattle: Smail Bros. (Moa Flat), bullocks . £27 12/6, £26 2/6, £24 1.0/-, £24 2/6, - £22 17/6, £2l 15/-, £2l 15/-, £2l 12/6, £2l 5/- and £2O.

Sheep: McKee' Bros. (Clinton), wethers 51/6, 48/9 and 45/3, ewes 42/9, and 34/9. W. Miller (Mandeville), ewes 44/6, 41/3 and 36/-. R. Miller (Waipounamu), ewes 47/9, 39/- and 38/9. W. Black (Clinton), wethers 40/3, and ewes 35/6. D. Potts (Tapanui), ewes 40/6, 36/6 and 34/6, wethers 47/9. J. Kirk (Kelso), wethers 57/-, 53/3, and 48/-, ewes 48/9, 45/- and 41/-. J. Kerse (Kelso), wethers 48/-, 45/9 and 45/6. R. F. Sim (Kelso), wethers 42/-, 46/6 and 44/9, ewes 43/-, and 42/-. G. Crawford (’Koi), ewes 46/9, 45/6, 52/6 and 39/9. J. A. Edwards, ewes 37/-, and 31/6. H. Smith (Willowbank), ewes 36/9 and 31/-. P. H. McLean (Waimumu), wethers 56/-, 51/9, 48/9 and 48/6. Smaill Bros. (Moa Flat), wethers 55/-, 53/6, 50/3, 49/6 and 46/6. McKee and Sons (Waikaia), wethers 57/-, 54/3, 53/-, 49/- and 48/3. J. S. Harvey (Maitland), wethers 49/9, 43/-, 41/- and 40/-, ewes 40/6. J. Pullar (Crookston), wethers, 60/3, 53/9, 53/- and 49/3. D. Potts (Tapanui ), ewes 40/-, 37/- and 34/6. C. F. I Robertson (‘Koi), wethers 52/6, 47/6 47/-, 43/3, 43/- and 42/3. Fleming Bros (Crookston), wethers 55/6, 51/6, 51/3 and 53/6. A. Robertson (Cookston), wethers 53/3, 51/9, 50/6 and 49/-. F. Ussher (Kelso), ewes 47/3 and 40/-, wethers 37/9. G. | Stuart (Tapanui), ewes 47/-, 45/9, 44/3 and 44/-. A. Dynes (Kelso), wethers 43/-. C. W. Body (Kelso), shorn wethers 35/3 and 32/-, shorn ewes 30/-. DALGETY AND COMPANY. FINAL DIVIDEND FOR YEAR. Messrs Dalgety and Company Limited have received advice from their head office in London that at the annual meeting to be held on November 15, the directors will recommend declaring a final dividend of 3 per cent, making (with interim dividend already paid) 10 per cent for year ending June 30 last, together with bonus 0f,7/per share. Dividend and bonus are payable on November 21. The directors propose writing down premises £25,000, transferring £25,000 to staff provident fund, appropriating £50,000 for staff bonus, and carrying forward the sum of £195,300. AUSTRALIAN MARKETS. (Rec. 8.5 p.m.) Sydney, November 1. Wheat, ex trucks Sydney 4/8; at country stations, 4/1. Flour: £l2. Bran: £6. Pollard: £6. Oats: Algerian 4/9; white 4/8. Onions: Victorian brown £18; Silverkins £l6. Potatoes: Tasmanian £8 10/-; Clarence River new £l2.—Australian Press Association. (Rec. 8.5 p.m.) Adelaide, November 1. Wheatgrowers lots 4/BA, 4/9. Flour: Bakers lots £ll 15/-. Bran: £6 10/-. Pollard: £7 2/6. Oats: 3/3.—Australian Press Association. WHEAT CARGOES. London, October 31. Wheat.—The demand for cargoes is quiet and the price is occasionally 3d lower. Parcels are also meeting a quiet inquiry with a similar decline. Liverpool futures—December’s 9/4 3-8, March 9/4 1-8, May 9/4 [ per cental.—Australian Press Association. LONDON TALLOW MARKETS. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of the 31st ulto:—London Tallow Market— Market quiet and unchanged. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, November 1. Sales on ’Change:—Union Bank of Australian £l5 7/-; South British Insurance 63/-; Renown Collieries ord. 16/-, 16/3; Westport Stockton Coal 3/5; Checker Taxicab 8/-. Wellington, November 1. Sales reported:—Commercial Bank 30/5; Wilson’s Cement 40/2; Bank of New Zealand 61/4 and 61/6; National Insurance 16/11. Christchurch, November 1. Sales on ’Change:—Commercial Bank of Australia 30/2; Bank of New Zealand 61/6; New Zealand Breweries 54/9; Beath and Co. 36/6; Electro Zinc (pref.) 34/3, 34/4; Mahakipawa 1/4 (8 parcels) ; Colonial Sugar £63; Victoria Nyanza Sugar 43/9.