COMMERCIAL

Southland Times, Issue 20865, 29 August 1929, Page 2

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange, the following quotations were made:— Australasian Bank of Commerce: b 36/-. Bank of Australasia: s £l4 14/-. Commercial Bank: b 29/5, s 29/10. EK. and A. Bank: s £8 9/6. National Bank of Australasia: (cont.), s £9 13/6. National Bank of New Zealand: s £6 19/6. Bank of New South Wales: b £5l. Bank of New Zealand: b 63/-, long “D” issue: b 28/6. Union Bank of Australia: b £l5, a £l5 2/6. Dunedin Brewery Co.: b 32/6. New Zealand Breweries: (shares), b 84/6, s 85/-; (stock), b 28/3._ Staples Brewery: b 54/3, s 54/9. Grey Valley Collieries, Ltd.: b 26/-. Westport Coal: b 33/6. National Insurance: b 10/6. New Zealand Insurance: b 48/-. Queensland Insurance: s 65/-. South British Insurance: s 68/6. Standard Insurance: b 65/-. Dalgety and Co.: b £l5 2/-. Goldsbrough, Mort and Co.: b 47/9, s 48/3. National Mortgage: s 88/6. Perpetual Trustees (Dunedin) : b 68/-. Trustees, Executors (Dunedin) : b 60/-. Wright, Stephenson and Co.: (ord.), b 26/-; (pref.), b 18/3. New Zealand Refrigerating: (20/- paid), s 16/-; (10/- paid), s 6/11. Southland Frozen Meat: (£1 ord.), b 39/6; (10/- ord.), b 19/9; (£1 pref.), b 39/6. Electrolytic Zinc: (ord.), b 39/3, s 39/9; (pref.), b 39/3, s 39/9. Mount Lyell: b 44/3. , Waihi Gold Mining: b 12/-. Burns, Philp: b 46/9. Howard Smith: (ord.): s 24/6.: Huddart'Parker: (ord.), b 45/6, s 46/-. Union Steam Ship Co. (pref.), b 21/-. Kaiapoi Woollen Mills: (cont.) b 5/-; (ord.), b 14/6; (pref.), b 16/6. Mosgiel Woollen Mills: b £7 14/-. Wellington Woollen Mills: (pref.), s £7 2/-. Australian Iron and Steel: b 21/6. British Tobacco (Aust.) : s 48/6. Colonial Sugar Co.: s £57 15/-. D.1.C.: (ord.), b 11/- premium; (pref.), b 21/6. Donaghy’s Rope and Twine: b 36/-. McLeod Bros.’' Soap: b £3O. Milburn Lime and Cement: s 40/6. New Zealand Drug: s 77/-. New Zealand Farmers’ Fertilizers: b 21/6. New Zealand Guarantee Corporation: b 9/4, s 9/8. New Zealand Paper Mills: s 20/6. Wilson’s (N.Z.) Portland Cement: b 44/6. Inscribed Stock, 1938, 41- per cent, (free of income tax): b £99 17/6. War Bonds, 1938, 44 per cent, (free of Income Tax) : b £99 17/6. Inscribed Stock, 1939, 41 per cent, (free of Income Tax): b £99 17/6. War Bonds, 1939, 4J per cent (free of income tax) : b £99 17/6. Government Bonds, 51 per cent., 1933: b £lOl 5/-. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, August 28. Sales on ’Change: New Zealand Breweries Debentures £1 8/4; Commercial Bank of Australia £1 9/9 (three sales); English, Scottish and Australian Bank £8 7/6; Bank of New Zealand £3 3/6; Australian Provincial Insurance 14/-; Auckland Gas £1 4/3 (two sales) ; Devonport Steam Ferry £1 1/3; Northern Steamship 14/2; National Timber 7/6; Tiinaru Brewery (5/- paid) 9/-; Staples’ Brewery £2 14/5; Sanford, Ltd. 18/6; Wilson’s Cement £2 4/4; Ohinemuri 10/9 (three sales); Mount Lyell £2 4/6.

Wellington, August 28. Sales reported: New Zealand Breweries 10 per cent. Bonds £1 8/3. , Sales on ’Change: Commercial Bank of Australia (ord.) £1 9/9; Gear Meat Co. £2 3/9; Shariand and Co. (pref.) £1 2/-. Christchurch, August 28.

Sales on ’Change: New Zealand Breweries (bonds) 28/4; New Zealand Refrigerating 6J per cent. (1935) £lOO 10/-, £lOO 12/6; National Bank of Australasia (£5 paid) £9 13/- (2); Bank of New Zealand 63/6, 63/5, 63/4; Union Bank of Australia £l5 2/-; United Building Society 15/6; P. and O. Deferred Stock 55/6; New Zealand Refrigerating (10/- paid) 6/7 (3), 6/6 (4); Stockton Coal (ord.) 3/2; Stockton Coal (pref.) 4/6; Christchurch Gas (10/- paid) 13/2; New Zealand Breweries 84/10; Timaru Brewery (5/- paid) 8/11; Beath and Co. 32/3, 32/(odd lot); Beath and Co. (1/- paid) 9/6; Electrolytic Zinc (ord. cum. div.) 39/5; Quill Morris (cum. div.) 16/6; Mahakipawa 4d. Sales reported: Commercial Bank of Australia 29/9; Commercial Bank of Australia (new fully paid) late sale yesterday 29/3; P. and O. Deferred Stock 56/6; Staples Brewery 54/6; Electrolytic Zinc (ord. cum. div.) 35/9, 35/6, 39/5; New Zealand Breweries 84/11; National Bank (£5 paid) £9 13/-; Mount Lyell 44/8; Electrolytic Zinc (pref. cum. div.)39/6. Dunedin, August 28. Sales reported: Goldsbrough Mort 48/-; Mt. Lyell 44/6; Bank of New Zealand 63/6; Gear Meat 44/-. BURNSIDE STOCK SALE. FAT CATTLE CHEAPER. Dunedin, August 28. Fat cattle were again sold at cheaper rates at the Burnside sales to-day, the reduction being from 15/- to 20/- per head. The sheep sale was irregular. Heavy sheep sold on a par with the values realized at previous sale, but heavy ewes sold at a reduction of about 1/- per head. There was a good demand for all classes of store cattle, while the pig market was very firm. The fat cattle entry totalled 168 head. The yarding was of good quality, the proportion of prime heifers and cows being fairly large and several pens of well-finished bullocks were included. Heavy bullocks sold from £22 to £22 15/-; medium £l9 to £2l; light £l6 15/- to £l7 10/-; heavy heifers £l6 5/- to £l7 10/-; medium £l3 10/- to £l5; light £l2 5/- to £l3; heavy cows £l6 5/- to '£l7; medium £l4 5/- to £l5; light £l2 10/- to £l3 10/-. Prime ox beef sold on a basis of about 54/- per lOOlbs. The sheep entry totalled 1750 head. The yarding was of fair average quality and included a number of prime ewes and heavy wethers and a few pens of extra good ewes. The proportion of medium sheep was not large and fine wool animals were in fair supply. The opening sales showed a reduction in values, but there was an improved demand later. The last sales were the best of the series. Prime wethers sold to 56/-; medium to 44/-; light to 42/-; prime ewes made to 37/-; medium to 32/- and light to 27/-. Several pens of extra prime ewes sold from 42/to 44/3. Prime mutton sold on a basis of about 7d. per lb. The few hoggets realized 32/6 head. The store cattle entry was smaller than usual. Only about 80 head being offered. The yarding included about 20 fair to good quality steers. Three-year-old bullocks sold to £l3, and two-year-olds to £7 12/6. The pig entry was also smaller than usual and all classes met with keen competition. Baconers and porkers were very firm, while stores sold at an advance of several shillings per head. Prime porkers sold on a basis of 7jd and prime baconers about 8d per lb. ADDINGTON STOCK SALE. IMPROVED FAT CATTLE DEMAND. STORE SHEEP EASIER. Christchurch, August 28. At the Addington market, entries were up to normal in all sections of stock, except fat cattle. For the latter there was an improved demand, but fat and store sheep were easier. Store Sheep.—The store sheep entry was about the same as last week and included the usual proportion of ewes. The quality was indifferent and all sorts met with a very dragging sale. Wethers declined about 1/6 to 2/- a head on last week, and ewes also were definitely easier though not to the same extent. Values were: Ordinary full-mouthed halfbred ewes to 27/-; failing-mouthed halfbred ewes to 18/-; ordinary halfbred ewes and lambs to 17/5; good 4, 6 and 8-toothed crossbred ewes to 32/6; two and four-toothed Corriedale ewes 31/- to 32/6; full and failing-mouthed Corriedale ewes to 23/-; extra good halfbred wethers 29/- to 30/9; medium halfbred wethers to 25/-; ordinary halfbred wethers 21/- to 22/-; Corriedale wethers to 26/9; extra good halfbred ewe hoggets to 32/6; ordinary halfbred wether hoggets to 18/3; good Corriedale ewe hoggets 27/- to 28/6; ordinary Corriedale ewe hoggets to 23/-. Fat Sheep.—The yarding of fat sheep was again a heavy one. There was more than the usual proportion of light sheep forward, though there was also a fair sprinkling of prime lots. As a result of the big entry, the tone of the market was weaker and values eased by about 1/- a head for the better class sheep and 1/6 for the plainer sorts. Extra heavy prime wethers to 51/-; heavy prime wethers 41/to 44/-; medium prime wethers 31/- to 40/-; medium quality wethers 30/- to 33/-; light wethers 23/6 to 29/-; extra prime ewes to 43/6; heavy prime ewes 34/to 38/-; medium prime ewes 30/- to 33/6; Ordinary ewes 25/6 to 29/-; light ewes 19/- to 24/-; medium hoggets 23/6 to 26/10; inferior hoggets 21/- to 23/-. Fat Cattle.—The offering of fat cattle comprised 390 head and was much smaller than last week. It included lines from the North Island, West Coast and South Canterbury. The proportion of well-fin-ished cattle was heavier than usual and the sale throughout was a keen one, values showing a rise of from 15/- to 20/- a head. Prices were the best of the season. Values per lOOlbs were: Good mediumweight prime beef 49/- to 52/6, in cases up to 54/-; medium quality 44/- to 48/-; heavy 44/- to 47/-; good cow 42/6 to 46/-; medium 37/6 to 41/-, and rough heavy down to 34/-. Extra heavy prime steers to £25 7/6; heavy prime steers £2l to £23 10/-; medium weight prime steers £lB 10/- to £2l 10/-; medium quality steers £l4 10/- to £18; light steers £ll 10/- to £l4; extra prime heifers to £l7 12/6; prime heifers £l4 10/- to £l6; ordinary heifers £l4 10/- to £l6; ordinary heifers £l2 to £l4 5/-; light heifers £9 5/- to £ll 15/-; extra prime cows to £l7 17/6; prime cows £l4 5/- to £l5 15/-; medium cows £ll 10/- to £l4; light and aged cows £7 10/- to £ll.

Vealers. —The entry of vealere was a small one and the quality generally was poor. The sale was a good one and prices were about the same as last week. Top price being £lO 10/-. Store Cattle. —There was a medium entry of store cattle which met with a keen demand. Young cattle particularly were wanted. A line of three-year-old good coloured steers sold at £l2 12/6 and yearling heifers at £5. Dairy Cattle.—The entry in this section was smaller than last week and in spite of a moderate showing of quality, the market was a shade better than last week. Best second to fourth calvers made from £l2 10/- to £l4; others from £5 to £l2, and heifers from £7 to £l5.

’ Fat Pigs.—There was a moderate entry of baconers and porkers and all sorts met with a good demand, calves being a shade firmer than the previous week. Bacon made from 6d to 7d and pork from 8d to 9d.

Store Pigs.—The entry of store pigs was a heavy one, but a good demand was experienced throughout the sale and prices remained firm at last week’s rates. Weaners made from. 12/- to 24/., and stores up to 40/-,

NEW ZEALAND DRUG CO., LTD. Dunedin, August 28. At a meeting of the Board of Directors of Messrs Kempthorne Prosser and Co., New Zealand Drug Company, Limited, held this afternoon, an interim dividend of 4} per cent, for the half year ended July 31 was declared. FOREIGN EXCHANGE. (United Tress Assn.—By Telegraph—Copyright.) Rugby, August 27. The exchange rates on London are as follows:—

CHICAGO WHEAT. New York, August 27. Chicago Wheat: September 1321; December 141|; March 137 J; May 151} cents per bushel.—Australian Press Association.

March 31. August 27. Paris, fr to £1 .. .. 124.75 123.845 Brussels, belgas to £1 .. 34.95} 34.865 18.20 18.205 Stockholm, kr to £1 .. 18.17} 18.10 Copenhagen, kr to £1 .. 18.215 18.215 Berlin, rchmkn to £1 .. 28.45} 20.355 New York, dol. to £1 4.85 4.84} Montreal, dol. to £1 .. 4.87} 4.88 j Yokohama, pence to yen 22 1-32 23 3-32 Hong Kong, pence to dol. 23} 23} Calcutta, pence to rupee 18 1-32 18 1-32 Batavia, gldr to £1 .. 12.15} 12.10} Rome, lire to £1 .. .. 82.68 82.68 Prague, kr to £1 .. .. 164 163} Amsterdam, gldr to £1 12.11} 12.09 —British Official Wireless.