COMMERCIAL

Southland Times, Issue 20963, 21 December 1929, Page 3

COMMERCIAL

STOCK EXCHANGE YESTERDAY’S TRANSACTIONS. At yesterday’s meeting of the Invercargill Stock Exchange, the following quotations were made: — Bank of Australasia: b £l2 10/-; s £l2 15/-. Commercial Bank: b 25/6; s 25/10. E.S. and A. Bank: s £7 5/-. National Bank of Australasia (cont.): s £B. National Bank of New Zealand: s £6 16/6. Bank of New Zealand: b 58/-. New Zealand Breweries (shares): b 87/6; (stock): b 28/3. Staples’ Brewery: b 52/6, s 53/3. Westport Coal: s 31/9. Westport Stockton 8 per cent.' non-cum. pref.: s 4/6. National Insurance: s 15/6. New Zealand Insurance: s 45/9. South British Insurance: s 64/6. Dalgety and Co.: b £l2 15/-; s £l3. Goldsbrough" Mort and Co. (rights): s 5/6. National Mortgage: s 86/-. Perpetual Trustees (Dunedin): b 68/-. Trustees’ Executors (Dunedin): b 60/-. New Zealand Refrigerating (20/- paid): s 12/9; (10/- paid): b 4/3, s 5/3. Electrolytic Zinc (pref.): b 33/9; s 34/6. Kildare: b 1/7; s 1/11. Mount Lyell: b 38/- ex div. Winding Creek Gold Mining: s 1/9. Stoney Creek Gold Mining: s 1/-. Waimumu Gold Ltd.: s 1/4. Huddart-Parker (ord.): b 41/9, s 42/3. Union Steam Ship Co. (pref.): b 20/9. Kaiapoi Woollen Mills (ord.): b 10/-; (pref.): s 14/9. Mosgiel Woollen Mills: b £7 10/-. Australian Iron and Steel: s 20/9. British Tobacco (Aust.): s 45/3. Christchurch Gas Co. : b 26/-. D.I.C; (pref.): b 21/3. Donaghy’s Rope and Twine: b 35/6. Dunlop Rubber (Aust.): s 25/-. McLeod Bros.’ Soap: b £3O. Milburn Lime and Cement: b 35/6; s 36/3. New Zealand Drug: s 74/-. New Zealand Paper Mills: b 20/9; s 21/6. Wilson’s (N.Z.) Portland Cement: s 42/-. Inscribed Stock, 1938, 41 per cent, (free of income tax): b £lOO. War Bonds, 1938, 4i per cent, (free of income tax): b £lOO. Inscribed Stock, 1939, 44 per cent, (free of income tax): b £lOO. War Bonds, 1939, 4 per cent, (free of income tax): b £lOO. Government Bonds, 54 per cent. (1933): b £lOl. The Stock Exchange will be closed until January 10. THE WEEK’S TRANSACTIONS. Any change that has taken place in the prices for banking shares during the past week has been for lower levels in nearly all cases, Bank of New Zealands and Commercials of Australia being the exception. In these two lines prices remain about last week’s figures. Commercials at from 25/8 to 25/10, have had a few transactions and New Zealands have changed hands at 58/- and 58/6. National Bank of New

Zealand are about 2/- per share easier in price, £6 13/- against £6 15/-. New South Wales £4O and £4O 5/- with sales last week at £4l 17/6 to £42 15/-. Union Banks last week sold at £l3 10/-, this week found sellers willing to accept £l3. E.S.A. Banks at £7 are quite 10/- cheaper than a week ago. Bank of Australias are quoted buyers £l2 9/-. Nationals of Australasia have been neglected in the quotations lately, contributing issue are in the vicinity of £8 to-day. Insurance companies’ shares remain very quiet, Nationals remain about last week’s price, seller 15/6, New Zealands had a reported sale during the week at 45/-, but buyers were not willing to continue operations at this figure, and sellers were asking 9d more. South British have sellers willing to accept 62/6, no buyers. Standards have not been quoted lately. Goldsbrough Morts continue to be the only line in the Loan and Agency section inquired about, and a few sales have been reported from the various centres at prices quite 1/- to 1/3 below last week’s sales; the rights also have dropped, having been sold down to as low as 4/7. Meat Companies’ shares have eased. New Zealand Refrigerating contributing issue selling as low as 4/6. Present quotation is buyer 4/3 and seller 5/-, for the £1 paid sellers are willing to accept 13/-. Southland Frozen Meats have gone unquoted. Mount Lyells sold during the week at 41/3, and are now ex dividend buyers 38/-; Kildares latest quotation is buyer 1/7, seller 1/10. Winding Creeks are on offer at 1/9, and Stoney Creeks are quoted buyer 9d, seller Ud, Waimumu have sellers at 1/4. Coal companies’ shares have not been dealt in, Westports are at 31/9 sellers. Huddart-Parkers (ordinary) have been the only line in shipping shares inquired for buyers being willing to give 41/6; sellers however are asking 6d more. ITiere has been no demand at all for Woollens and the market is very weak. Milburn Limes have a seller at 36/3 with a buyer 9d away. New Zealand Drugs have been placed at 74/-, Paper Mills are a shade firmer, buyer 20/9, sellers 21/6. British Tobaccos started the week at prices about 44/7, but finned slightly and finished with the market about 45/-. New Zealand Breweries (shares) are wanted at 87/6, and there was a fair deniand for the stock at 28/-, with sales at figures a shade over this. Wilson’s Cements made their appearance again, sellers offering to take 42/-. Most of the Government Bonds brought forward buying quotations, but there were no sellers and prices remain unchanged. The Stock Exchange is now closed until January 10.

WALLACETOWN STOCK SALE. A feature of the stock sale at Wallacetown yesterday, the final for the year, was the big yarding of fat sheep and fat lambs forward. Butchers bought freely, but there were more lambs forward than required and values which opened well, slumped considerably. There were many passings, this being no doubt due to the fact that the freezing works have not yet commenced operations, restricting competition a great deal. In the circumstances a decided drop in prices could not be

avoided, but even so values on the whole were considered very satisfactory. Following is’ a comparative table of

| yardings for the last two sales’: — Dec. 20. Dec. 3. Store Cattle 156 234 Fat Cattle 288 183 Store Sheep 228 294 Fat Sheep .. .. .. .. 2073 825 Included in yesterday’s yarding were 948 fat lambs, 18 dairy cows, 19 bulls and 19 vealers. Store Cattle.—An average yarding consisting chiefly of empty cows, heifers and yearlings. There was also a line of fat and forward three-year-old Hereford bullocks. The sale was an animated one and was the best for a long time. The line of fat and forward steers realized £l5; a. small pen of 2-year-old well-bred and good conditioned sorts £11; well-grown and yearling steers £5 15/- to £6 5/-; fat and forward empty heifers from £8 to £9 7/6; smaller and lighter conditioned ewes £6 10/- to £9 5/-; yearling heifers from £4 to £5; forward conditioned empty cows from £8 to £9 5/-; aged and lighter conditioned sorts £6 10/- to £7 5/-. In the dairy cow section a fair sale resulted. Cows close to profit realized from £lO to £l3. Store Sheep.—There was a small yarding in this section consisting mostly of ewes and lambs. Sound and failing-mouthed shorn ewes with lambs at foot brought up to 16/2 and old-mouthed ewes and lambs 8/11. Average 2-tooth wethers realized up to 21/6. A pen of extra good killable 2-tooth wethers were sold privately at 25/-. Fat Sheep.—A big yarding, with a large proportion of good quality shorn fat wethers and ewes, but mostly ewes. Good butchers’ sorts met with keen competition, selling up to 31/-. Prime wethers realized up to 28/-; inferior sorts 24/- to 26/-; good quality woolly ewes 30/-; other sorts down to 20/-; good shorn fat ewes 22/- to 24/-. Fat Lambs.—The yarding of fat lambs was considerably in excess of butchers’ requirements. Prime extra heavy butchers’ lambs realized from 30/- to 34/3; heavyweights 26/- to 28/-; good freezing lambs, from 23/6 to 25/-, at which range the majority of the lambs were disposed. Had it not been for the presence of one or two freezing buyers, prices would not have been so satisfactory. Fat Cattle.—There was a large entry forward, no doubt on account of the extended period between the recent sales and vendors evidently anticipating a good market. A few of the butchers present had purchased privately, between sales, with the result that requirements were much below expectations. Prime quality heifers and cows almost held their own as compared with late ruling rates, but bullocks showed a decline on the previous sale. The yarding was a representative one, and if anything, showing an increase in bullocks on previous sales. The sale opened practically on a par with the last sale, but gradually declined until the close. Prime heavy bullocks brought from £lB 10/- to £2O; good medium weights £l5 10/- to £l7; lighter and unfinished sorts £l2 10/- to £l3 10/-, prime heavy heifers £l2 10/- to £l4 5/-; mediums £lO 15/- to £ll 10/-; lighter £8 10/- to £9 10/-; prime heavy cows £l2 to £l3 10/-; mediums £9 15/- to £11; lighter sorts down to £B. There was a good entry of vealers and runners, the number and quality being a vast improvement on recent sales. Good runners brought from £5 10/- to £7 and vealers from £3 to £4 15/-.

RABBITSKIN PRICES DROP. At the Dunedin auction sale held recently rabbitskins dropped in price 30 to 50 per cent. Messrs J. J. Ward and Company, of Invercargill, were amongst the principal buyers, purchasing approximately 60,000 skins, and so helping to save the market from total collapse. The tremendous drop in New Zealand is due to the fact that about 4000 bales still remain unsold in London. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, December 20. Sales on ’Change: Commercial Bank of Australia 25/7; Bank of New Zealand 58/6; Union Bank £l3 1/6; New Zealand Insurance 44/6; South British 63/-. Farmers’ Co-operative Auctioneering 78/-; Newton King (pref.), 12/6; Kauri Timber (late sale Friday, ex div.) 15/9; New Zealand Breweries 87/3; British Tobacco 45/3 (late sale Friday) 45/3; Farmers Fertilizer 22/6; Mt. Lyell 38/6. Wellington, December 20. Sales reported: Commercial Bank of Australia (ord.) £1 5/10; Bank of New South Wales £4O 15/-; New Zealand Breweries’ Bonds £1 8/3. Christchurch, December 20. Sales on ’Change: New Zealand Breweries’ Bonds 28/3; National Bank of Australasia (£5 paid) £7 19/-; Union Bank of Australia £l3; New Zealand Breweries 87/7 (2), 87/6 (2); British Tobacco (cum. div.) 45/- (2); Mt. Lyell 38/3. Sales reported: Commercial Bank of Australia 25/10; Huddart-Parker 41/6; New Zealand Breweries 87/6; British Tobacco (cum. div.) 45/3. Dunedin, December 20. Sales on ’Change: Paddy’s Point 3/6; Stoney Creek 3d premium. Sales reported: Milburn Lime 36/(two); Huddart-Parker (ord.) 41/9; 44 per cent. Bonds (1938) £99 17/6. CHICAGO WHEAT. (United Press Assn.—By Telegraph—Copyright.) New York, December 19. Chicago wheat went off sharply after easing throughout the session. Weak foreign cables started the selling. December 118 J, March 124}, May 128 J, July 1294 cents per bushel.