COMMERCIAL

Southland Times, Issue 21089, 22 May 1930, Page 3

COMMERCIAL

STOCK EXCHANGE. YESTERDaUs~QUOTATIONS. At yesterday’s meeting of the Invercargill Stock Exchange the following prices were quoted:— Australian Bank of Commerce: s 20/3. Bank of Australasia: b £l2 3/0. Commercial Bank of Australia: b 20/4, is 21/-. Bank of New South Wales: b £39. Bank of New Zealand: s 59/6. New' Zealand Breweries (shares): b 52/-. Staples Brewery: s 48/-. Westport. Coal: b 31/-. National Insurance: s 14/9. New Zealand Insurance: b 43/6, s 44/6. Goldsborough Mort and Co.: b 31/6. Wright, , Stephenson and Co. (ord.): b 20/-. ' , Gear Meat Preserving (20/-): b 10/3, s 11/6. Electrolytic Zinc (ord.): b 24/-. Mount Lyell Mining: s 28/6. Winding Creek Gold Mining: s 9d. Stoney Creek: s 9d. Huddart-Parker (ord.): b 36/9. Union Steam Ship Co. (pref.): b 20/6. Kaiapoi Woollen Mills (cont.): b 3/9. Australian Iron and Steel: s 19/-. British Tobacco (Aust.): b 38/-, s 39/-. Christchurch Gas. Co.: b 26/-. Dunlop Rubber (Aust.): s 15/6. Milburn Lime and Cement: s 33/6. New Zealand Drug) s 64/6. N.Z. Farmers’ Fertilizers: b 18/6. N.Z. Guarantee Corporation: b 7/3. New Zealand Paper Milks: b 20/-, s 20/6/ Wilson’s (N.Z.) Portland Cement: b 40/6. Inscribed Stock, 1938, 41% (free of income tax) : b £9B 7/6.

War Bonds, 1938, 41%, (free of income tax): b £9B 7/6. Inscribed. Stock, 1939, 41 per cent, (free of income tax): b £9B 7/6. War Bonds, 1939, 41%, (free of income tax): b £9B 7/6. Government Bonds, 51%, 1933: b £99 5/-.» Sale Reported. A sale of 1938 41 per cent, stock at £9B 10/- was reported. THE SHAREMARKET. YESTERDAY’S TRANSACTIONS. (Per United Press Association.) Auckland, May 21. Sales on ’Change: Inscribed Stock (1932) 51 per cent. £9B 15/-; E.S. and A. Bank £6 2/6; National Bank of Australasia £l5 2/-; Bank of New South Wales £39 6/-; Bank of New Zealand 58/9; Auckland Gas 24/1, 24/3; Tooth’s Brewery 34/9; Farmers’ Trading 8/9; Kempthornc Prosser 63/4. Wellington, May 21. Sales reported: New Zealand Government Stock 41 per cent. (1938 and 1939) £9B 10/-; New Zealand Government Stock 54 per cent. (1936) £99 5/-; New Zealand Government Bonds (44 per cent. 1938) £9B 10/-; Australian Bank of Commerce £1 4/3; National Bank of Australasia (£10) £l5 2/-; Christchurch Gas Co. £1 6/2. Christchurch, May 21. Sales on ’Change: New Zealand Government 51 per cent. Inscribed (1937) £99 7/6; E.S. and A. Bank £6 2/- (2); National Bank of Australasia (£5 paid cum. div.), £7 11/6; Goldsbrough Mort 31/9; Goldsbrough Mort (new) 30/-; New Zealand Breweries 52/11 (2) ; British Tobacco 39/-, 39/2.

BURNSIDE STOCK SALE. MARKED RISE IN FAT CATTLE. Dunedin, May 21. Fat cattle met with a marked rise in values at the Burnside stock sales to-day which must have been distinctly acceptable to pastoralists, but sheep and fat lambs showed little or no alteration from last week’s rates, any variation being in the direction of a downward trend. The fat cattle yarding comprised 170 head of fair to average quality sorts with a few pens of prime heavy bullocks. From the outset the demand was brisk, and all lines, with'the exception of unfinished sorts, were easy to quit. Values were about 20/: per head better than was the. case last week. The best prime heavy bullocks made up to £l9 17/6, prime to £l7, medium £l4 and light and unfinished from £9. The best cows and heifers were worth up to £l2 17/6, fair to medium sorts making from £8 to £lO 10/-. There was only a very small yarding of store cattle and as a result, competition was very fair with values firm at late rates. The fat sheep entry, was somewhat larger than usual, the total being about 2,900, comprising for the most part light to medium wethers and ewes with a fair percentage of heavier, only one or two pens of which were outstanding. The sale began well with values well up to last week’s schedule, but while the last races were under the hammer, the inquiry slackened considerably with the result that there was a falling away from last sale’s level. Prices for prime heavies, ewes or wethers, were fully equal to late rates, but medium weights and butchers’ sorts were cheaper by 1/- per head. Freezing sorts remained firm. A few extra heavy prime wethers made to 34/6, prime from 24/- to 29/-, medium from 19/- to 22/-, and freezers from 15/- to 18/-. The best ewes made to 27/6, prime from 16/- to 20/-, medium from 14/- to 15/-, and freezers 9/- to 13/-. There were 1200 fat lambs in all, the competition for which was very keen in respect to good quality sorts which sold well at late rates. Extra hetivy butchers’ lambs made to 26/-, prime 20/- to 21/6, medium 17/- to 19/- and light 15/- to 16/-. There was a yarding of 78 fat pigs which sold on a par with last week. There was fair competition for the small yarding of store pigs, prices remaining firm. ADDINGTON STOCK SALE. INCREASED VALUES, Christchurch, May..2l. The features of the weekly metropolitan market at Addington to-day were increases in the values for fat lambs, fat sheep and store sheep. Fat cattle also sold well, but with little alteration in values. Store Sheep: A very email entry and it met with a very free inquiry. Forward lambs, for which export buyers competed, advanced up to 3/- a head on late rates. Medium sorts recorded a rise of 2/- a head and cull lambs were better by 1/- a head. Adult sheep also sold at advanced rates, the rise in the case of the better class of ewes being 1/- and up to 2/- a head on last week’s rates. Forward wethers sold better than last week by 2/- a head. Values were: Medium ewe lambs 11/- to 13/8, cull ewe lambs to 7/6, extra good wether lambs 13/- to 15/2, • ordinary wether lambs 8/6 to 11/-, cull wether lambs to 5/-; good 4, 6 and 8-topth threequarter bred ewes 16/- to 19/-, ordinary 8-tooth halfbred ewes 12/4 to 13/9, ordinary 2-tooth halfbred ewes 13/2 to 17/9; failing-mouth halfbred ewes 3/9 to 10/-; good 4 and 6-tooth halfbred wethers 16/to 18/-; medium 4 and 6-th halfbred wethers 12/- to 15/-. Fat Lambs: An entry of 2,509 head. The sale was a very good one and values recorded an increase of 1/- and up to 2/- a head on last week’s rates. Values were: Extra prime lambs to 17/7, prime lambs 23/- to 25/6; medium .lambs 19/6 to 22/6, light lambs 16/- to 19/-. Fat Sheep: The fat sheep penned totalled about 4,500 head and the sale was a ready one throughout. Values for both classes were a shade better than at last week’s market, ewes advancing I/- a head. Values were: Extra prime wethers to 30/4, prime wethers 26/- to 28/6, medium wethers 23/- to 25/6, light wethers 17/to 22/6, extra prime ewes to 25/1, prime ewes 19/- to 22/6, medium ewes 15/6 to 18/6, light and aged 10/- to 14/6.

Fat Cattle: An entry of 365 head, just sufficient to meet the requirements of

butchers. The sale was a freer one than that of last week, but there was little quotable change in values. Best medium weight beef made from 35/- to 38/6 per lOOlbs and in some cases a little above that figure, medium quality from 28/- to 31/-, heavy store from 31/6 to 34/6, good cow froth 25/- to 27/6, secondary 22/- to 24/- and rough down to 20/-. Values were: Show steep £22 7/6, extra prime hetyy steers to £2O, prime heavy steers £l4 'lO/- to £l7, prime mediumweight steers £ll to £l3 5/-, ordinary quality steers £8 to £lO 10/-, light steers £6 to £7 15/-, extra prime heifers to £l5 7/6, prime heifers £8 10/- to £ll 5/-, ordfnary heifers £6' 11/- to £B, light heifers £5 to £6 5/-, extra prime cows to £l5 12/6, prime cows £8 to £lO 10/-, ordinary cows £6 to £7 10/-, light and aged £4 5/- to £5 10/-.

Vealers: The small entry included a line from Otago. All good calves sold on a slightly higher basis, but poor sorts sold indifferently. Top price for the sale was £6 3/6.

Store Cattle: A small entry and the quality generally poor. Last week’s rates were maintained however for the better sorts offering. Eighteen-months to 2-year-old steers made up to £5 8/6 and eows sold up to £5 15/-. Potting bulls sold at late rates,, top price for them being £7 11/-. Dairy Cattle: An entry of 56 head of very mixed quality. Outstanding sorts attracted keen competition, but it was a dull sale for the remainder. Values were: Best second and third calvers to £l6 10/10, good £l3 to £l4 10/-, others £3 to £l2, good heifers £l2 to £l4, medium £9 10/to £ll, others £5 15/- to £B. , Fat Pigs: A small entry of porkers and heavy sorts sold at slightly advanced rates with the remainder on a par with last week. Bacon values remained firm. Values were: Choppers £3 to £6 6/-, light porkers £2 to £2 7/6, heavy porkers £2 10/- to £3, average price per lb 7d to 71d, light baconers £3 3/- to £3 15/-, heavy baconers £3 17/6 to £4 10/6, extra heavy baconers £5 6/6, average price per lb 6d to 7d. Store Pigs.—Medium yarding at values little changed. Values were: Large stores 28/- to 36/-, medium 21/- to 26/-, small 15/- to 17/6, slips 11/- to' 13/6, weaners 7/6 to 12/6. ’ PRICE OF FLOUR. Distributors, Limited, advise that the price of flour has been increased by 10/per ton as from and including Wednesday, May 21:— The prices are now: — Flour: 200’s £l7 15/-, 100’s £lB 15/-, 50’s £l9, 25’s £l9 10/-. Bran: 150’s and 200’s £9, 100‘s £9 5/-. Pollard: 150’s and 200’s £9 10/-, 100’s £9 15/-. FOREIGN EXCHANGES. (British Offickd Wireless.) Rugby, May 20. The exchange rates on London are as follows: —

LONDON WOOL SALES. (United Press Assn.—By Telegraph—Copyright.) London, May 20. At the wool sales 9031 bales were offered including 4500 New Zealand. Practically all were sold. There was a large offering of greasy Merinos principally super style spinners’ sorts and a good supply of all New Zealand descriptions. The market was very firm at full late rates. New Zealand greasy crossbreds "Manga” 104 d and 10|d, “Paparatu” 12 Id and 12d, "Opou” lljd and llld. Best New Zealand greasy crossbred realized 12Jd. “O.F.M. Pareora” super halfbred lambs, 14 Id. CHICAGO WHEAT. New York, May 20. Chicago Wheat: May 103}, July 103.5, September 106?, December HOJ cents per bushel. LONDON MARKETS. Messrs Dalgety and Company, Limited, report having received the following advice from their head office, London, under date of the 20th instant:— Wool Sales. Wool sales continue, competition keen, prices fully on a par with highest point last week. Fine crossbreds rather firmer. Tallow Market. Tallow sales will be resumed May 28, market continues depressed. DAIRY PRODUCE. Messrs Henderson and Co., Ltd., advise that their London principals, Messrs Lovell and Christinas, Ltd., cabled on 20th instant as follows:—"Butter market very quiet, prices 128/- to 130/-. Cheese steady, white 82/-, coloured 88/-.” The South Island Dairy Association, Limited, advise having received the following market report from the New Zealand Produce Association, Ltd., London:— Butter: Slow 128/- to 129/-; Danish 129/-. Cheese: Quiet. . White 81/-, coloured 86/-.

Feb. IS. Mav 20. Paris, fr to £1 122.21 123.95 Brussels, belgas to £1 . 34.90 34.811 Oslo, kr to £1 18.18 18.161 Stockholm, kr to £1 .. 18.125 18.111 Copenhagen, kr to £1 18.16 18.161 Berlin, rchinkn to £1 . 20.37 20.37 New York, dol. to £1 .. 4.85 4.86 Montreal, dol. to £1 ». 4.99 J 4.861 Yokohama, pence to yen Hong Kong, pence to dol. 241 24r 181 175 Calcutta, pence to rupee 18 1-32 17 13-16 Batavia, gldr to £1 .. 12.3 12.08$ Rome, lire to £1 .. .. 86.68 86.68 Prague, kr to £1 .. .. 1641 ■ 164 Amsterdam, gldr to £1 . 12.15 12.081