COMMERCIAL

Southland Times, Issue 21429, 25 June 1931, Page 2

COMMERCIAL

CITY STOCK EXCHANGE. YESTERDAY’S TRANSACTIONS. At yesterday’s call over of the City Stock Exchange the following prices were quoted: Bank of Australasia: b £9. Commercial Bank: b 14/-, s 14/6. E.S. and A. Bank: b £3 17/-, s £4. National Bank of Australasia (cont.) : b £4 10/-; (ord.): b £9 10/-. National Bank of New Zealand: s £4 19/6. Bank of New South Wales: b £24 10/-, s £25. Bank of New Zealand: b 46/-, s 57/-; long “D” issue: b 25/-. Union Bank of Australasia: b £7 10/-, s £7 12/-. New Zealand Breweries (shares) : b 33/-. .Westport Coal: b 23/6, s 24/3. Westport 8 per cent, (non-cum. pref.): s 3/-. National Insurance: b 12/9. New Zealand Insurance: s 41/9. South British Insurance: b 50/-. Dalgety and Company: b £5 17/6. Goldsbrough, Mort and Co.: b 19/-, s 21/6. Trustees’ Executors (Dunedin): b 59/-. New Zealand Refrigerating (20/- paid): b 11/-, s 11/6; (10/- paid): b 3/5, s 3/9. Southland Frozen Meat (£1 ord.): b 32/6; (10/- ord.): b 16/3; (£1 pref.): b 32/6. Electrolytic Zinc (pref.) : b 14/-. Kildare Mining: s 1/1. Mount Lyell: b 18/-. Okarito: b 8/9, s 9/1. Waihi Gold Mining: b 15/-. King Solomon: b 3/24, s 3/3. Cornish Point: s Bd. Union Steam Ship Company (pref.) : b 19/6. Kaiapoi Woollen Mills (ord.): b 7/-. Mosgicl Woollen Mills: b £6 8/-. British Tobacco (Aust.) : b 23/9, s 24/3. Dominion Investments: b 23/-. Dominion Rubber Company: s 12/6. Invercargill Sale Yards: s £lO. McLeod Bros., Soap: b £l9 10/-. Milburn Lime and Cement: s 30/9. New Zealand Drug: b 49/3. New Zealand Farmers’ Fertilizers: b 13/-. New Zealand Milk Products: b 20/-. New Zealand Paper Mills: s 18/6. Inscribed Stock, 1938, 41 per cent, (free of income tax): b £9B. War Bonds, 1938, 41 per cent, (free of income tax) : b £9B. Inscribed Stock, 1939, 4J per cent, (free of income tax) : b £9B. War Bonds, 1939, 41 per cent, (free of income tax): b £9B. Government Bonds, 51 per cent., 1933: b £99. Government Stock, 54 per cent., 1933: b £99. Government Stock, 51 per cent., 1937: s £99 7/6. Sales Reported. Sales were reported of 1938 Bonds at £9B 5/-, 1938 Stocks at £9B 2/6, 1939 Bonds at £9B 5/-, 1939 Stocks at £9B 2/6, and King Solomons at 3/2 and 3/3. NORTHERN EXCHANGES. Auckland, June 24. Sales on 'Change: Auckland Harbour Board (1943) 54 per cent. £97 10/-; National Bank of New Zealand £4 15/-; Bank of New Zealand 46/5, 46/6; New Zealand Insurance 40/-; South British Insurance 50/6 (2); New Zealand Breweries 32/9; Farmers’ Trading 6/8; King Solomon 3/3 (2); Waihi Grand Junction 3/4; Mt. Lyell 18/3 (2). Wellington, June 24. Sales reported: Bank of New South Wales £24 17/6; Christchurch Gas Co., £1 a/-; New Zealand Breweries £1 12/9; Colonial Sugar Co. £33 17/6 (2 sales); New Zealand Government 54 per cent. Stock (1933) £99 2/6; Mount Lyell Mining 18/6 cum. div. Christchurch, June 24. Sales on 'Change: Commercial Bank of Australia 14/3; Bank of New Zealand 46/6; New Zealand Breweries 32/10 (2) ; King Solomon 3/4 (2); Okarito 9/2; Golden Point (10/- paid) 16/6, 16/3, 15/9, 15/6; Westport Coal 24/-. Sales reported: Union Bank of Australia £7 12/-; Mt. Lyell (cum. div.) 18/4. Dunedin, June 24. Sales on 'Change: Okarito 9/2 (four); King Solomon 3/3. Sales reported: New Zealand Refrigerating (cont.) 3/7; Mount Lyell 18/0 (cum. div.) ; Paddy’s Point 2/11 (two); Okarito 9/3. 'HUNTER & REID. DALGETY’S BUILDINGS, DON STREET, INVERCARGILL. PUBLIC ACCOUNTANTS, AUDITORS. SECRETARIES, AND SHAREBROKERS. J. B. REID, F.P.A., N.Z. Member Invercargill Stock Exchange. Telegraphic Address: ‘'Foxhound.” Telephone: 212 Ax 1043 ADDINGTON STOCK SALE. WINTRY CONDITIONS PREVAIL. Christchurch, June 24. To-day’s sale at Addington was conducted under the winteriest of conditions and the attendance of operators in the store stock sections was the smallest for

some years. There were only a few pens forward of store sheep, store cattle, dairy cattle and store pigs. Fat Lambs.—Some 2,600 were penned. The schedule for export has been reduced during the week and values were easier by 1/- to 1/6 per head. Extra prime lambs to 23/4, prime 18/6 to 20/-, medium 16/to 18/-, light 12/6 to 15/6,. store 9/6 to 12/-.

Fat sheep comprised another heavy yarding of 6600 head. The schedule for export for wethers has improved during the week, whilst that for ewes has receded and in consequence export buyers bought freely, but with less keeness than the week before. Best wethers made to 4d a' lb and ewes to 2 |d. Extra prime wethers to 25/1, prime 17/- to 19/3, medium 14/- to 16/6, light 11/- to 13/6, extra prime ewes to 15/10, prime 12/6 to 14/6, medium 9/6 to 12/-, light and aged. 5/7 to 9/-. Fat Cattle.—Two lines from the North Island of 28 and 29 head averaged £ll 2/- and £lO 2/- respectively. An average prime draft of 24 local steers brought £l3 3/-. Generally the sale showed an easing tendency, though some of the better steer beef showed little change. The best of beef sold at about 29/- per lOOlbs, prime 25/- to 28/-, and secondary down to 19/per 1001 b. Extra prime heavy steers to £l5 2/6, prime heavy £lO to £l2 10/-, medium weight prime £7 5/- to £9 10/-, ordinary quality £5 15/- to £7, light to £5, extra prime heifers to £lO 2/6, prime £6 to £7 15/-, medium £3 15/- to £5 15/-, light to £3 10/-, extra prime cows to £ll 12/6, prime £5 5/- to £7 10/-, medium £3 5/- to £5, light and aged £3. Fat Pigs.—There was an irregular sale for fat pigs. Choppers made 40/- to £4 11/-, baconer 47/7 to 66/6, average price per lb 4ld to sd, porkers 25/- to 48/6, average price per lb s}d to 74d.

BURNSIDE STOCK SALE.

FAT SHEEP PRICES INCREASE. Dunedin, June 24. Fat sheep met with a keen demand at the Burnside stock sales to-day and quotations were from 2/- to 3/- higher than was the case last week. Fat cattle, with the exception of good prime sorts, were easier by about 10/- per head. Store cattle remained unchanged. The pig market had a slightly better tone and prices for fats were about 5/- per head higher. About 1709 fat sheep were penned, the quality being only fair with a small proportion of extra prime wethers. The bulk of the penning were average to good ewes with a sprinklnig of fine woolled wethers from Central Otago. There was a keen demand and values were up by from 2/- to 3/- per head. Extra prime wethers made to 23/-, prime to 21/-, medium to 18/-, light to 15/6, extra prime ewes to 17/3, prime to 15/-, medium to 12/9, old and inferior to 9/9. The penning of fat lambs totalled 789. The quality was not up to late standard. Prime sorts sold on a par with late rates. Light weights and seconds were cheaper by from. 1/- to 1/6. Extra prime made to 23/-, prime to 19/6, others from 8/- to 16/6. Only 176 head of fat cattle were yarded, comprising mostly medium to good bullocks with a couple of trucks of primes. All prime cattle met with a good demand with values a shade better than last week. Other sorts were easier by 10/- per head. Extra prime bulocks made to £l4 5/-, prime to £l2 15/-, light and medium from £6 5/- to £lO 5/-, extra prime cows and heifers fetched to £9, prime to £7 15/-, old and inferior medium from £3 15/- to £6 5/-. There was a small yarding of store cattle, mostly young sorts for which there was little demand at late rates. The fat pig yarding of 53 comprised nearly all porkers. Values, generally were 5/- in advance of rates ruling last week. KING SOLOMON DEEP LEAD, LIMITED. MANAGER’S REPORT. The secretary of the City Stock Exchange has received the following report from the manager of King Solomon Deep Lead, Limited( (Mr R. C. Ruffin), on the work done at the mine for the two weeks ending June 19. “The drive east was extended 18ft., making the total drive 31ft. at this point. Driving north was started, driving in this direction being completed for 25ft. Both drives were in wash for the distance driven. Driving north from Station 7 was continued for 31ft., the total distance of this drive being 85ft. Driving west from this drive was started at two points, the total driving being respectively 12 and 26ft. Cross-driving connecting two of the drives being produced north, was done, the completed cross-driving being 46ft. Tire wash in the above drives averaged from Ift 6in. to 2ft. The total dirt treated was 26 yards. The gold return for the above period was 2050 z 17dwts. Considerable work has been done in dismantling the Stoney Creek buildings with a view to having them transported and re-erected at the mine.” DAIRY PRODUCE. Messrs Henderson and Co., Ltd., report having received the following cable dated 24th instant, from their London principals, Messrs Trengrouse and Nathan, Limited:— “Butter, 109/-. Cheese 1/- lower. Both markets quiet." Mr G. Blaxall has received the following advice from Messrs Lovell and Christmas, Ltd., London as dated June 23, 1931:— Butter: 108/-, to 109/-. Cheese: Coloured 55/-, 56/-; white 52/-, 53/-. Markets slow.