COMMERCIAL

Southland Times, Issue 20949, 5 December 1929, Page 3

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s meeting of the Invercargill Stock Exchange, the following quotations were made:— Australian Bank of Commerce: s 31/6. Bank of Australasia: s £l3 15/-. / Commercial Bank: b 25/9. National Bank of Australasia -(cont.): s £8 12/6. Bank of New Zealand: s 60/6; Long “D” issue: b 28/-. New Zealand Breweries (shares) : b 84/3; e 86/6 ex div; (stock: b 27/10, s 28/6. Staples Brewery: b 52/9; s 53/6. Westport Coal: s 32/-. National Insurance: s 15/7. New Zealand Insurance: s 46/6. Dalgety and Co.: s £l3 10/-. Goldsbrough, Mort and Co.: s 40/-. National Mortgage: s 86/-. Perpetual Trustees (Dunedin): b 68/-. Trustees’ Executors (Dunedin): b 60/-. New Zealand Refrigerating (10/- paid): b 5/3, s 5/9. Southland Frozen Meat (£1 ord.): s 37/-; (10/- ord.), s 18/6; (£1 pref.), s 37/-. Electrolytic Zinc (pref.): b 33/6, s 34/3. Kildare: b 1/8, s 1/11. Mount Lyell: s 41/3. Winding Creek Gold Mining: b 1/3; s 2/-. Stoney Creek: s 1/-. Huddart Parker (ord.): b 41/6; s 42/9. Union Steam Ship Co. (pref.): b 20/9. Kaiapoi Woollen Mills (pref.): b 14/6; s 15/6. Mosgiel Woollen 1 Mills: b £7 11/-. Australian Iron and Steel: s 21/3. Christchurch Gas Co.: b 26/-. D.I.C. (ord): b 11/3 premium; (pref.): b 21/6. Dominion Rubber Co.: s 29/-. McLeod Bros.’ Soap: b £3O. Milburn Lime and Cement: b 35/-. New Zealand Drug: b 73/-; s 74/-. New Zealand Paper Mills: s 21/-. Wilson’s (N.Z.) Portland Cement: s 42/6. Inscribed Stock, 1935, 44 per cent, (free of income tax): b £IOO. War Bonds, 1938, 44 per cent, (free of income tax) : b £IOO. Inscribed Stock, 1939, 44 per cent, (free of income tax) : b £IOO. War Bonds, 1939, 4 per cent, (free of income tax); b £IOO. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, December 4. Sales on ’Change: Commercial Bank of Australia £1 5/104; E.S. and A. Bank £7 11/-; Union Bank £l3 16/-; National Insurance 15/6; Dalgety and Co. £l3; Renown Collieries (pref.) new f.p. 3/-; Taupiri £1 9/-; Electrolytic Zinc (pref.) £1 13/9, £1 13/44; Farmers’ Trading 9/-; Farmers’ Co-op. Auctioneering 78/-; Farmers’ Fertilizers £1 2/6; Mount Lyell 40/3, 40/9 (two sales). Wellington, December 4. New Zealand Government 44 per cent. Inscribed Stock (1938) £100; New Zealand Breweries Shares £4 5/-; Wellington Trust and Loan £7 3/-. Christchurch, December 4. Sales on ’Change: Commercial Bank of Australia 26/-, 26/2 (2); Bank of New Zealand (cum. div.) 59/9; Goldsbrough ’ Mort 38/3 (2), 38/3; Mt. Lyell (cum. div.) 40/7, 40/8 (3); Mahakipawa 4d (3). Sales reported: National Bank of New Zealand £6 16/-; National Insurance 15/4; Huddart Parker 42/3; Westport Coal 31/6; British Tobacco 45/3; Mt. Lyell (cum. div.) 40/8; National Insurance 15/6. Dunedin, December 4. Sales, on ’Change: National Insurance 15/3; Okarito 1/5 prem. Sales reported: Huddart Parker (ord.) 42/3; Kildare 1/10. ADDINGTON STOCK SALE. BEEF AND MUTTON SHOW INCREASE. Christchurch, December 4. At the weekly Metropolitan market at Addington to-day, both beef and mutton prices showed increases on those of last week’s sale. There was a large entry of fat cattle, but in the fat sheep section • there was a short supply, the smallest for some time. Fat lamb values firmed on recent rates, but the fat pig prices

showed no alteration. Store Sheep.—An average yarding wit wethers in good supply. The market wa much firmer for all classes. Wethers ini proved by 1/6 to 2/- a head. Values were Good four and six-toothed Romney weth ers 25/6 to 27/-; medium four and six toothed Romney wethers to 25/6; good fou and six-toothed halfbred wethers to 25/6 ordinary halfbred wethers to 20/3; back ward halfbred wethers to 16/-; good half bred ewe hoggets (woolly) to 29/3; med ium Corriedale ewe hoggets (woolly) t< 20/-; halfbred wether ewe hoggets (wool ly) to 20/11; halfbred wethers ewe hog gets 15/7 to 18/2; small halfbred wethei ewe hoggets to 14/-; sound-mouthed ewe; with lambs (woolly) 15/10 to 18/-; gooc 2 and 4-tooth halfbred ewes to 25/9 Merino wethers (woolly) 7/- to 11/3. Fat Lambs.—A total of 511 was entered much smaller than at the recent sales. Th; market was firmer by up to 1/6 a hear over a keen sale. The average price pel lb was 9d to Fat Sheep.—A small entry, only aboul 2500 head. A very firm sale, though there was a short supply and prices for all classes increased on late rates by up to 2/- a head Extra prime shorn wethers to 37/7; prime wethers 32/- to 34/6; medium wethers 27/6 to 31/6; light wethers 22/6 to 27/-; extra prime shorn ewes 30/6 to 33/1; prime ewes 25/- to 29/6; ordinary ewes 22/to 24/6; light ewes 29/- to 21/6; woolly wethers to 38/7; best woolly ewes to 39/10. Fat Cattle.—A total entry 440 head with no “outside” cattle. Prices improved on those of last week’s sale by up to £1 a head for all classes, especially primer sorts. Best medium weight prime beef made from 46/- to 48/- per lOOlbs; good medium weight prime beef from 42/- to 45/-; heavy steer beef from 41/- to 44/-; good cow beef to 42/-; secondary 34/- to 37/-; light and rough to 33/-; show steers to £22 17/6; heavy prime steers £2B 10/- to £2l 10/-; medium weight prime steers £27 15/to £l9; ordinary steers £l4 to £l7 5/-; light steers £ll to £l3; extra prime heifers to £l7 2/6; prime heifers £l4 15/- to £l6 5/-; ordinary heifers £l3 to’£l4 10/-; light heifers £7 10/- to £l2; extra prime cows to £lB 7/6; prime cows £l4 10/- to £l6 10/-; medium cows £l2 15/- to £l4 5/-; light and aged £8 to £l2. Vealers.—A small entry with a few small calves forward. A good sale with little quotable change in recent values. Top price was £7 10/-. Good vealers made from £4 to £5; best calves 45/- to 60/-, and others 10/- to 30/-. Store Cattle.—A larger entry than usual met with keen competition. Prices were on a par with recent rates. Two-year-old steers made £8 5/-; best fresh cows up to £B's/-; 18-months heifers £5 19/6 to £6 16/- and yearling steers £5 13/6 to £B. Bulls were in good demand at prices up to £7 13/6. Dairy Cattle.—A small yarding of average quality. Prices were much the same as those ruling last week. Values were: Best second and third calvers to £l3 10/-; others £8 to £l2 10/-; good heifers £ll to £l2 10/-; others £7 to £lO 10/-. , Fat Pigs.—The large entry met with an irregular sale. Both porkers and baconers sold on a par with last week’s prices. Porkers eased toward the close of the sale. Values were: Choppers 30/- to £6 6/-; baconers £4 5/- to £4 16/6; average price per lb to 74d; porkers 42/- to 63/-; average price per lb 7jd to 84d. Store Pigs.—A medium entry and prices showed a decline of up to 4/- on last week’s sale. Values were: Stores 28/- to 42/-; slips 22/- to 24/6; weaners 10/- to 21/6.

BURNSIDE STOCK SALE. SHARP DECLINE IN PRICES. Dunedin, December 4. There wjas a sharp decline in the prices obtained for most classes of stock at the Burnside sales to-day. Fat cattle, sheep and iambs were the affected sections. The reduction in fat cattle prices was from £1 10/- to £2 per head, while sheep declined to the extent of 2/- and 5/-, lambs '• from 3/- to 4/- per head.. Store cattle, with the exception of cows, sold at late rates, and the pig market was firm. : Fat Cattle.—The entry totalled 280 head consisting of good average to prime animals I with a few heavy-weights and a number of prime cows. Heavy bullocks sold £22 10/-; 3 medium to £l9 5/-; light to £lB 10/-; 3 heavy heifers to £l3; medium to £l7; light to £lO 15/-; heavy cows to £l4 5/-; medium to £l2 15/- and light to £ll 15/-. Prime ox beef sold round about 50/- per lOOlbs. The sheep entry totalled 2,880. With the exception of about 450, the whole of the yarding was shorn. AU classes were represented with a fair proportion of heavy wethers, the balance consisting of mixed sheep. Opening sales showed a sharp de- : cline on the high rates obtained a fortnight ago. The demand was slow and the mar- ; ket showed no improvement with closing sales. Heavy sheep sold at a reduction of . from 4/- to 5/- and ewes about 2/- per head. Shorn wethers sold from 22/- to 40/9, shorn ewes from 18/- to 32/6, s wethers in the wool from 33/- to 49/6, and ewes in the wool from 25/- to 39/6. A number of hoggets sold from 27/- to 31/3 . per head. Prime mutton sold to about old per lb. ; The lamb entry numbered 277. The animals were well grown, being mostly prime, including lambs suitable for show purposes. The yarding also included a few plain sorts. There was a good demand at : reduced rates, prime lambs selling from 28/- to 33/9, medium from 24/- to 27/-; and plain sorts to 23/-. Prime lamb sold round about lOd lb. About 30 medium two and three-year-old steers and a number of fair to good cows were included in the yarding of 200 store s cattle. Three-year-old steers sold to £9 11/- and two-year-olds to £7 12/6. : The pig entry consisted of 150 fats and 145 stores. There was a good demand f with little, if any, changes in prices for all classes. Prime baconers and - porkers sold : on a basis of about 9d lb. A.M.P. SOCIETY. Success and satisfaction in life arc obtained by seizing opportunities while they are open. In that connection it is interesting to note from an announcement made by the A.M.P. Society elsewhere in this issue, that all those who effect participating policies in the ordinary department before ■ December 31 will be entitled to share in '■ the distribution of bonuses for the year 1929. The cash amount divided between policy-holders in the society’s ordinary Department for the previous year reached the huge record total of over £3,000,000, representing reversionary additions of over ' £5,000,000 to the sums actually assured under the policies then in force. This record cash distribution represented a return of over 58 per cent, on the premiums for the year on participating policies. Altogether, since its establishment 80 years ago, the society has distributed over £44,000,000 in cash bonuses, and has paid away to its members or their representatives, no less a sum than over £88,800,000. The offer made by the A.M.P. is one which will doubtless be availed of by many who are not as yet assured, as well as by many others who are not assured sufficiently to cover present day needs. Prompt application for policies should be made to ensure participation in the surplus for the current year. NATIONAL BANK. INTERIM DIVIDEND DECLARED. Wellington, December 4. The general-manager of the National Bank of New Zealand Limited has received a cable message from London advising that the Board of Directors has declared au interim dividend of 12 per cent, per annum for the half-year ended September 30 last. This is the same as for the corresponding period last year, and will be paid in the Dominion on January 4. FOREIGN EXCHANGE. Rugby, December 3. The exchange rates on London are as follows:— Mar. 31. Dec. 3. Paris,, fr to £1 .. .. 124.75 123.895 Brussels, belgas to £1 .. 24.95} 34.87 Oslo, kr to £1 18.20 18.205 Stockholm, kr to £1 .. 18.17} 18.125 Copenhagen, kr to £1 .. 18.215 18.195 Berlin, rchmkn to £1 18.45} 20.38 New York, dol.’ to £1 .. 4.85 4.88 1-16 Montreal, dol to £1 .. 4.87} 4.96 Yokohama, pence to yen 22 1-32 24 3-32 Hong-Kong, pence to dol. 23} 20} Calcutta, pence to rupee 18 1-32 18 1-32 Batavia, gldr to £1 .. 12.15} 12.13} i Rome, lire to £1 .. .. 82.68 82.68 Prague, kr to £1 .. .. 164 165} Amsterdam, gldr to £1 12.11} 12.08} j LONDON WOOL SALES. ; London, December 3. j At the wool sales 10,718 bales were offer- ( cd of which 3832 were from New Zealand. f There was a moderate selection of greasy j Merinos, a large and miscellaneous offering . of scoured Merinos and a better supply of j greasy crossbreds. All sections were operat- , ing well at. late rates. New Zealand greasy | crossbred “Waipaoa” 16} and 15Jd. ( 1 WHEAT CARGOES. 1 s (Rec. 5.5 p.m.) London, December 3. j Wheat cargoes are steady with Manitobas r occasionally lower. La Platas are held for j an advance of 6d. Parcels are in fair j demand at an advance of 3d . X—LONDON WOOL SALES. j f GRAIN AND PRODUCE REPORT. 1 Messrs Dalgety and Company, Ltd., ? Dunedin, report as follows:— Oats. —The only business passing is in 8 feed oats, for which there is still a good inquiry. Locally held stocks are light and offerings from the country very infrequent. <■ Current values are 3/2 on trucks, sacks extra, for A Gartons, and 3/- for B’s. E

Wheat.—Very little wheat is now left in store, and millers appear to have sufficient supplies on hand until the new season’s crop is available. Values remain nominally as follows:—Tuscan 5/9, Hunters 6/-, Velvet 6/3 on trucks, sacks extra. Fowl wheat is in short supply, the ruling price being 6/6 per bushel, ex store. Chaff.—There is a steady demand with no stocks of good quality chaff being held by merchants. The market is being kept supplied by consignments from the south, shearing holding up cutting in Central Otago, while the shipping demand from the north is absorbing Canterbury supplies. Prime quality is still realizing £6 10/- per ton, ex store, and £6 5/- ex truck. Potatoes.—New season’s tubers are now selling ftadily in all shops and the demand for old potatoes has fallen off. Occasional consignments are still coming to hand and are very difficult to quit. Freshly picked over lines are being sold at £4 per ton, ex store.