COMMERCIAL

Southland Times, Issue 20773, 14 May 1929, Page 2

COMMERCIAL

OTAUTAU STOCK SALE.

(From Our Correspondent.) There was a small yarding at the above sale on Friday. A good sale was experienced, prices being on a par with the previous one. Following are some of the lines sold: — The National Mortgage and Agency Co. sold 126 wether hoggets 21/-, 49 do. 16/4, 88 do. 17/-, 99 ewe hoggets 22/7, 20 f. and f. ewes 5/6, and 22 m.s. lambs 14/-. Cattle: Two fat-steers £l3-5/-, 1 do. £l2 5/-, 1 fat cow £7, and 2 dairy heifers £4 10/-. Dalgety and Co. sold 80 2-tooth wethers 27/-, 20/- do. 23/1, 97 do. 24/-, 18 do. 27/-, 2 fat ewes 20/-, 15 fat lambs 25/-, and 97 wether lambs 19/-. Cattle: Two calves 36/-, and 1 cow £6 5/-. The New Zealand Loan and Mercantile Agency Co., sold 20 m.s. lambs 24/3, 33 do. 20/1, 71 fat lambs 28/11, 24 do. passed at 26/-, 16 do. passed at 25/-, 67 ewe lambs 27/2. Cattle: 1 bull £6, 1 cow £4 15/-, 5 do. £6, 1 do. '£4 15/-, 1 do. £7 12/6, 1 do. £5, 1 do. £6 17/6, 1 do. £7 2/6, 1 do. £6 15/-, 1 do. £5 12/6, 1 do. £6 10/-, 1 do. £6 5/-, 1 do. £B, 1 do. £8 10/-. Pigs: 1 do. 11/-, 1 do. 10/-, 4 do. 15/-, and 4 do. 19/-. J. E. Watson and Co., sold 17 ewes 10/1, and 2 rams 3gns. Cattle: Two fat cows £6 7/6, 1 do. £6, 2 do. £5 12/6, 1 do. £5 5/-, 2 do. £4 15/-, 1 bull £4 and 1 heifer £3 9/-. Wright, Stephenson and Co., sold 190 2-tooth ewes 39/8, 35 do. 35/-, 26 ewes 9/5, 29 four, six and eight-tooth do. 32/3, 50 fat and f. wethers 35/10, 80 two-tooth do. 22/9, 41 4-footh do. 38/2, 120 wether lambs 17/4. Rains: 4 at 3Jgns, 1 do. 3gns, 3 do. 15/-. Cattle: 1 dairy cow £l2 15/-, 1 dairy heifer £9 15/-, and 1 do. £l2. J. R. Mills and Son sold 81 ewe lambs 25/7, 28 do. 25/6, 33 do. 22/-, 75 fat lambs 27/7; 13 m.s. lambs 23/1, 66 do 19/-; 22 lambs (small) 13/6, 12 wether lambs 19/-, 41 wethers 35/6, 15 2-tooth wethers 31/10, 73 failing ewes 14/-, 72 2-tooth ewes 17/-. Cattle: One empty cow £4 7/6. SHEEPSKIN SALES. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of the 10th instant: — Sheepskin Sales: Range of prices was as follows: — Merino: Three-quarter to full woolled 13d to 15-ld, quarter to half woolled 9d to lljd; short and shorn 7Jd to 9d. Crossbred: Three-quarter to full woolled 131 d to 17Jd; medium and coarse Hid to 14 Ad; quarter to half woolled fine lid to 14J; medium and coarse 9Jd to 13d; short and shorn Sid to 121. Lambs: Hid to 16d. A total of 2383 bales was offered, and 1913 were sold. Competition was not animated. American buyers principal operators. Home trade and Continental buyers very quiet. As compared with closing rates of last series:—Merino combing and clothing 5. per cent. lower; lambs unchanged. Wool Sales: Wool sales continue animated, quotations unchanged. LONDON MARKETS. The New Zealand Meat Producers Board has received the following cable from its London office, dated May 10, 1929, advising Smithfield delivered prices averaged for week ending that date as follows: — (Prices for the previous week are also shown). (Per lb). 10/5/29.5/5/29. d. d. N.Z. Wethers and Maidens; Canterbury quality, selected brands — ■ 561 b and under .. .. .. .. 7J 7J 571 b to 641 b 6.4 61 651 b to 721 b * .. 5J 5s Other brands—--561b and under 6J 7 571 b to 641 b 6 6 J 651 b to 721 b 5} 5s N.Z. Ewes—--641b and under s's 51 N.Z. Lambs; Canterbury quality—--361b and under 9 J OS 371 b to 421 b 9 9J 431 b to 501 b 81 8J Seconds 9 9 Selected brands—--361b and under .. .. ...... 94 91 371 b to 421 b 8J 8J Other brands, first quality—--361b and under 9} 9} 371 b to 421 b 1 .. 'Bl 81 Second quality, 30/32 average 9 9 Australian Lambs; Victorian first quality—--361b and under .. 81 81 371 b to 421 b 8J 84 Argentine Lambs; first quality—--361b and under 8 8 371 b to 421 b 7 J 74 Argentine Chilled Beef — Ox fores 5} 5J Ox hinds 71 71 N.Z. Frozen Pork— Porkers, 601 b to 801bs .... 10 101 Sllbs to 99lbs 91 10 lOOlbs to 1201bs .. 91 10 Baconers, 1211bs to ISOlbs .. 9 91 Lamb: Market quiet; trade slow. Mutton: Market is weaker for both wethers and ewes. N.Z. Porker Pigs: Market is easier; demand decreasing. New Zealand Baconer Pigs: Market is weaker owing to lower prices of bacon. Messrs W. Weddell and Co., Ltd., report that the following are the top London quotations for the past two weeks:— April 26. May 3. Danish butter .. .. 164/- 166/N.Z. unsalted .. .. 168/- 168/N.Z. salted 164/- 166/Market quiet, firm. Cheese white 88/- 88/Cheese, coloured .. 90/- 90/Market steady, slow. Butter: During the month of April the market remained slow and quiet, top prices ranging from 162/- to 166/-. The favourable season in New Zealand, with reports of a production far in excess of previous records and more especially the fact that the January/February make did not suffer by dry weather as happened last season, undoubtedly had a depressing effect upon the London market, added to which was the rapid recovery in Australia from a threatened drought. Last week there was a distinctly firmer tone in the butter market and London quotations ran up to as high as 167/-, but the latest advices show that the market is again somewhat weaker. The first few days of this month there was quite an active demand by forward buyers for end of season’s make, and May shipment and several parcels of May/June make were sold at prices considerably above present spot London quotations, sales ranging from 1/5 to 1/5} f.o.b. It appears, however, that the forward buyers have not continued with their inquiry and generally buyers in the meantime have withdrawn. Cheese: Cheese has again been disappointing and although the market has run up to 90/- during April, the latest cables report that the cheese market is slow, prices declining again to the vicinity of 86/- and 87/-, with a possibility of a further weakening. There are very heavy stocks of cheese in sight and it therefore does not look likely that we shall see any sudden improvement in quotations in the meantime. Gradings: The following gives a summary of the gradings for April compared with previous years and it will be seen that both butter and cheese show a considerable increase over last year’s figures. Gradings and Stocks. 1928. 1929. Tons. Tons. Butter graded during April 4,421 5,194 Butter graded during 9 months to April 30 ' .. 69,218 76,200 Butter in store at April 30 ’.. 5,500 5,543 Cheese graded during April 5,954 7,287 Cheese graded . during 9 months to April 30 .. 68,717 78,875 Cheese in store at April 30 6,300 9,934

STOCK EXCHANGE.

YESTERDAY’S QUOTATIONS.

At yesterday’s meeting of the Invercargill Stock Exchange the following quotations were made:— Bank .of Australasia: s £l4 16/-. Commercial Bank: b 30/1, s 30/3. National Bank of New Zealand: b £7 1/-, s £7 3/-. ‘ Bank of New Zealand: b 61/6, s 62/-. Bank of New South Wales: b £5l 10/-. Union Bank of Australia: s £l5 12/6. National Bank of Australasia: b £l9 14/6. Westport Coal Co.: b 32/9, s 33/3. Westport Stockton Coal Co.: b 2/10. Grey Valley Collieries: s 24/-. National Insurance: b 16/7, s 16/9. New Zealand Insurance: s 47/-. South British Insurance: b 63/9. Standard Insurance: b 64/6. Dalgety and Co.: s £l5 17/6. Goldsbrough, Mort and Co.: b 53/-. National Mortgage: s 86/-. New Zealand River Plate: b 30/-. Perpetual Trustees (Dunedin): b 64/6. Trustees’ Executors (Dunedin): b 59/6. Wright, Stephenson and Co.: (ord.), b 27/-, s 29/-; (pref.), b 18/-. Gear Meat Preserving Co.: s 43/-. New Zealand Refrigerating Co.: (20/paid) b 16/3; (10/- paid), b 7/8, s 7/11. Southland Frozen Meat Co.: (£1 ord.), b 36/-; (10/- ord.), b 18/-; (£1 pref.), b 36/-. Kildare Mining Co.: b 3/6. Mt. Lyell Mining Co.: b 43/6. Waihi Gold Mining Co.: b 12/- (ex div.). Electrolytic Zinc: (pref.) b 37/-. Winding Creek Gold Mining: s 1/-. Howard Smith Shipping Co.: (ord.), b 24/-. Huddart-Parker Shipping Co.: (ord.), s 45/6. Union Steam Ship Co.: (pref.), b 20/9. Burns Philp: b 47/6. Bruce Woollen Mills: s 11/6. Kaiapoi Woollen Mills: (ord.), s 14/3; (pref.), b 15/-. Mosgiel Woollen Mills: b £7 11/-. Australian Iron and Steel: b 20/6. British Tobacco: b 47/6; s 48/-. Colonial Sugar Co.: s £5B 15/-. D.I.C. (ord.), b 10/9; (pref.), b 20/9. Dominion Rubber Co.: b 29/-. Donaghy’s Rope and Twine: b 34/-. McLeod Bros., Soap: b £3O. Milburn Lime and Cement: s 40/-. New Zealand Breweries, Ltd.: (shares) s 64/3; (stock) s 26/9. New Zealand Drug: b 75/-. New Zealand Farmers’ Fertilizers: s 22/9. New Zealand Guarantee Corporation: b 8/8. New Zealand Milk Products: s 23/-. New Zealand Paper Mills: b 19/-, s 20/-. New Zealand Sugar of Milk: s 23/-. Otago Daily Times: s 76/-. Wilson’s (N.Z.) Portland Cement: b 41/6, s 43/6. Dominion Investments: b 24/-. Inscribed Stock (1938) 41 per cent, (free of income tax) : b £99 15/-. Soldier Settlement Loan Bonds (1933) 5J per cent, (not free of income tax): b £lOl 5/-. Eclipse Petrol Debentures: b 16/6. Sales were reported of Invercargill Borough Debentures (of per cent., 1936), at £100; Hoyts Theatres (8 per cent., A pref.) at 21/9, and Dunlop Perdrian at 27/94. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 13. Sales on ’Change: Union Bank of Australia £l5 9/-; New Zealand Insurance 46/9; Taupiri Coal 27/-; Auckland Gas 24/6; Electrolytic Zinc (pref.) 37/3; Lewis Eady Ltd. (pref.) 18/6; New Zealand Paper Mills 19/6; Wilson’s Cement 42/3; Waihi Mining 12/7. Wellington, May 13. Sales reported—4l per cent, stock (1938) £J00; 44 per cent, bonds (1941), two lots £100; Bank of New Zealand 61/11; Bank of New Zealand long term 29/-; National Insurance 16/71; British Tobacco 48/- and 48/6. Christchurch, May 13. Sales on ’Change: Bank of New South Wales (cum- div.) £5l 12/6; Bank of New Zealand 62/- (2 parcels); National Insurance (cum, div.) 16/6; Christchurch Gas 26/10; New Zealand Breweries 64/- (3 parcels) ; British Tobacco 48/1, 48/3, 38/4, 48/6, 48/3 (3 parcels); Mahakipawa 1/(5 parcels); Wilson’s Cement 42/6; New Zealand Farmers Fertilizers (cum. div) 22/9. Sale reported: Australian Bank of Commerce 36/1. Dunedin, May 13. Sale on ’Change: Wright, Stephenson (ord.) 26/-.