COMMERCIAL

Southland Times, Issue 21560, 25 November 1931, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. Late sales on Monday reported to yesterday morning’s call-over of the Invercargill Stock Exchange were of Auckland City Debentures, 5} per cent., 1940, at £96 5/-, 5} per cent., 1937 Bonds at £9B 15/-, 44 ner cent. 1938 Bonds at £96 and 44 per cent. 1939 Bonds at £96. The following prices were quoted:— Banks. Australasia: b £9 7/-; s £9 15/-. Commercial: b 16/-; s 16/3. E.S. and A.: b 90/-; s 92/6. New South Wales: s £29 10/-. New Zealand: s 49/6. New Zealand Long “D” Issue: b 45/6. Union of Australia: s £8 4/-. Breweries. Dunedin Brewery Company: b 17/-. New Zealand Breweries (shares): b 28/-; s 31/6. Coal. Westport Coal: b 24/8; s 26/-. Insurance. Standard: b 43/-. Loan and Agency. Goldsbrough, Mort and Company: b 22/6;; s 23/-. National Mortgage: s 42/6. Meat Companies. Gear Meat Company: b 25/-. New Zealand Refrigerating (20/- paid): b 10/-; s 11/9; (10/- paid): b 4/-; s 4/7. Southland Frozen Meat (£1 ord.): b 34/-; (10/- ord.): b 17/-; (£1 pref.): b 34/-. Mining. Cornish Point: s 4d. Electrolytic Zinc (pref.): b 17/-; s 20/-. Kildare: s 1/8. King Solomon: s 2/1. Mount Lyell: s 20/3. Okarito: b 9/-. Golden Terrace: s 9/-. Shipping. P. and O. S.N. Company( def. stock) : b 27/6. Woollen Mills. Mosgiel: b £6 10/-. Miscellaneous. Christchurch Gas Company: b 24/6. D.I.C. (pref.): s 20/3. McLeod Bros.’ Soap: b £2l. Milburn Lime and Cement : s 30/-. New Zealand Drug: b 48/-, s 50/6. New Zealand Paper Mills: b 15/3. Wilson’s (N.Z.) Portland Cement: b 36/-. Debentures. Government Inscribed Stock, 41 per cent. 1398 : s £97. Government War Bonds, 41 per cent., 1938: s £97. Government Inscribed Stock, 44 per cent., 1939: s £97. Government War Bonds, 41 per cent., 1939: s £97. Government Bonds 51 per cent., 1937: b £9B 5/-. Government Stock. 5J per cent., 1937: b £9B 5/.NORTHERN EXCHANGES. Auckland, November 24. Sales on ’Change: Inscribed Stock (1937) 51 per cent. £9B 15/-; Auckland Power Board (1936) 5 per cent. £95 15/-; City of Auckland (1940) 5] per cent, (late sale Monday) £96; Commercial Bank of Australia 15/9; Bank of Australia £9 9/-; National Bank of New Zealand £4 15/-; New Zealand Insurance 40/-; South British (late sale Monday) 54/6; Farmers’ Trading A pref, (late sale Monday) 14/6; Waihi 15/3; Waihi Junction 3/5. Wellington, November 24. Sales reported: New Zealand Government 54 per cent. Stock (1937) £9B 12/6 (4 sales); Bonds (1937) £9B 12/6 (2 sales); Wellington Woollen Co. (ord.) £4 6/6 (on ’Change); Union Bank of Australia £8 1/-. Christchurch, November 24. Sales on ’Change: Bank of Australasia £9 9/6, £9 6/6, £9 5/-; E.S. and A. Bank (cum. div.) £4 9/6; Union Bank of Australia £8; Goldsbrough Mort 22/5 (3) ; New Zealand Breweries (cum. div.) 29/11, 29/10 (4); Tooth's Brewery (cum. div.) 20/-; Okarito 9/2; Golden Point 74d 42); New Zealand Insurance 40/-; Okarito 9/4. Sales reported: New Zealand Government 54 per cent. Bonds (1936) £9B 10/-; New Zealand Government 54 per cent. Inscribed (1937) £9B 12/6; Commercial Bank of Australia 16/-; Union Bank of Australia £S 1/-; E.S. and A. Bank £4 9/-. Dunedin, November 24. Sale reported: Okarito 9/3. LORNEVILLE STOCK SALE. FAT CATTLE VALUES RECEDE. FAT SHEEP PRICES FIRM. There were increased yardings forward in almost -all sections at the weekly Lorneville stock sale which was held under atrocious weather conditions yesterday. The fat sheep market was a firm one and prices showed a slight advance on last week’s rates, especially for shorn wethers and good quality ewes. The fat cattle entry exceeded the requirements by a fairly substantial number and a reduction in values of about 10/- per head which prevailed in the opening stages increased as the sale advanced to the extent of about 25/- per head. The store stpek sections remained about on a par with the previous markets. Following is a comparison of the entries in the yardings in the individual sections

JL'nV kjuccy * Included in yasterduy’s yarding were 15 fat lambs, 33 bulls, 10 dairy cows and four vealers. STORE CATTLE: This was only a small yarding of odd lots which realized prices just similar to those ruling of late. FAT CATTLE: There was a large entry of really good- quality cattle, but it was evident that the quantity exceeded the demand. At the opening values showed a reduction of about 10/- a head, but as the sale advanced the drop increased to about 25/- per head. Extra prime heavy bullocks realized up to £ll 10/-, prime quality sorts from £9 to £lO, good medium weights from £7 to £8; prime heavy heifers up to £8 15/-, good medium weights from £6 10/to £7 10/-, lighter sorts down to £5; prime heavy cows up- to £7, medium quality sorts from £5 to £6. STORE SHEEP.—There was a larger yarding than the previous few sales, consisting chiefly of ewes and lambs, for which there was only a moderate demand. Failing mouthed ewes with good lambs realized up to 8/7, aged ewes with medium lambs brought from 4/- to 5/0, a smaller lot of decent ewe hoggets realized 15/10, whilst a pen of medium mixed sex hoggets made 11/9. FAT SHEEP. —The quality and number of the yarding were on a par with last week's, with the exception that most of the wethers forward were out of the wool. The bulk of the offering was made up of woolly and shorn ewes. The market opened at a firm tone, but eased slightly as the sale progressed. Extra heavy butchers’ shorn wethers realized up to 23/3, heavy butchers’ shorn wethers sold from 17/- to 19/-, and medium weights from 15/- to 16/6; good quality shorn maiden ewes realized up to 17/-, with lighter and inferior quality shorn ewes 11/- to 15/-; heavy butchers’ ewes 16/-, and lighter 11/- to 19/6. Fifteen fat lambs were yarded. They were of nice quality, suitable for the trade, and made from 14/- to 20/-, according to quality and weight. DAIRYFARMERS ROBBED OF MILLIONS.

Whether your cow cost 100 guineas or 100 pence it is all the same to that famous robber, abortion. But no matter what the cost of your cows the price of Sykes’s Drench is the same. The grass and the herd are the two main factors on your farm, and both must receive the same amount of attention. This is common sense. If Sykes’s Drench was not proved as a cleanser, it would not have been on the market for over 30 years. More than reasonable, you can buy Sykes’s everywhere, at Is. 6d. per packet or 17s. per dozen. Many farmers prefer to give it in a bran mash. GORE STOCK SALE. YESTERDAY’S MARKET. The fortnightly stock sale at Gore yesterday was held under boisterous weather conditions, heavy hail-showers falling throughout the morning and affecting the attendance. Local butchers, however, were well represented and prime ewes and wethers met with fair competition, prime wethers selling at from 17/- to 23/6, and prime ewes from 14/6 to 17/- for good heavy quality. There was less competition for store sheep and prices were, if anything, slightly easier than at recent sales. Fat cattle also met with a limited inquiry. Sales were:— J. E. Watson and Co., Ltd.: Three fat ewes at 9/-; 53 fat wethers at 21/-; 15 ewes and 22 lambs at 5/6 all counted. Southland Farmers Co-operative Association, Ltd.: 97 ewe hoggets at 14/10; 78 wether hoggets at 9/11. National Mortgage and Agency Co., Ltd.: 12 fat wethers at 20/6; 26 do. at 23/6; fat bullock at £8 10/-; do. £7 17/6; do. passed at £7 7/6. Wright, Stephenson and Co., Ltd.: Five ewes and 5 lambs at 7/6; 4 fat wethers at 17/6; 9 do. at 21/9; 7 fat ewes at 14/6; 2 fat wethers at 16/6; 25 do. at 11/-; 2 fat bullocks at £8 2/6; 1 do. at £8; fat cow at £4 12/6; do. at £3 10/-. Henderson Reid, Ltd.: 17 fat ewes at 17/-. New Zealand Loan and Mercantile Agency Co., Ltd., offered and passed in 39 ewes and 35 lambs at 3/. GRAIN REPORT. Messrs Donald Reid and Co., Ltd., Dunedin, report as under:— Oats: Business is by no means any brighter with this cereal. There is little or no shipping being done from this port. Samples are still arriving from the country particularly from the Heriot district where some threshing has recently been done. Very few lines are being sold, and prices do not vary much. A grade Gartons are nominally worth 2/2; B grade 1/11, sacks extra, on truck, country stations. Chaff: There is very’ little demand at present for chaff and ample consignments are arriving to fill all demands. Prime quality’ is hard to procure, and the bulk of this grade is being secured from Canterbury, Prime is worth £4 sacks extra, ex truck, Dunedin, or £4 10/-, sacks extra, ex store. Wheat: The only milling wheat left unsold is pool controlled. Local millers are not interested at present in the samples being offered, consequently there are no sales to report. Fowl wheat is still in demand and stocks of best quality are gradually becoming exhausted. Best quality’ is worth 4/8 sacks extra, ex truck, Dunedin. Potatoes: There are plenty of old potatoes held in store for all inquiries. The quality is deteriorating as is usual at the end of the season 30/- to £2 per ton is the value ex store, sacks given in. BRADFORD QUOTATIONS. London, November 23. Bradford quotations are fully firm with little new business in view of to-morrow’s London sales. PRICE OF GOLD. London, November 23. The price of gold is £5 11/9 per oz. WHEAT CARGOES. London, November 23. Wheat: Cargoes are steadier and firmer in sympathy with better overseas week-end advices. Buyers are unresponsive. Parcels, except Australians show 3d to 6d advance, but have eased on disappointing business. Futures—London, December 25/7, February 25/9, June 26/10; Liverpool, December 5/3j; March 5/8; May 5/10} per cental. LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated 21st instant, from the High Commissioner for New Zealand, London:— Tallow: Fair demand at auction at an advance of 6d; 693 casks offered, of which 277 sold. Mixed, fair to good, in demand. Present spot quotations are:— Mutton: Fine 26/6; fair to good 24/- to 25/-; dark to dull 20/6 to 21/6. Beef: Sweet and/or mixed 27/6 to 28/6; fair to good 23/6 to 27/6; dark to dull 20/- to 21/-. Mixed: Fair to good 23/6 to 27/-; dark to dull 20/- to 21/-. Gut, Etc.: 19/- to 21/-. Hemp: Manila—market quiet. Moderate business has been done early this week at last quotations,- but closing easier. “K” grade for November-January shipment sellers £l9 15/- and for January-March shipment sold £l9 17/6. Output January Ito November 15 945,000 bales against 1,149,000 same period last year. Stocks in the United Kingdom on October 31, 24,000 bales against 14,000 same time last year. Stocks in Manila on November 15, 101,000 against 115,000 same time last year.

Sisal.—Market quieter, closing with slightly lower values. No. 1 for NovemberJanuary shipment £l6 5/- and No. 2 £l5 10/-. New Zealand. —Continues without interest. Nominal value, on the basis of fair for December-February shipment, £lB 1(1/-. Stocks in the United Kingdom on October 31, 18 tons against 14 tons same time last year. DAIRY PRODUCE. Messrs Dalgey and Company, Limited, report having received the following market cable from Samuel Page and Son, London, under date of November 23, 1931: —Butter 2/- lower; cheese 2/- lower. Market weak. Messrs Henderson and Co., Ltd., report having received the following cable dated 24th instant from their London principals, Messrs Trengrouse and Nathan, Ltd.:— Butter: Finest 107/-, 108/-; first 103/-. Cheese: White 65/-, coloured 62/-. Weak. THE METAL MARKET. London, November 23. Copper: Standard, Spot £33 17/104; forward £34 6/101. Electrolytic Zinc: Spot £39; forward £4l. Wire Bars: £4l. Lead: Spot £l4 16/3; forward £l4 15/-. Spelter: Spot £l4 3/9; forward £l4 11/3. Tin: Spot £135 15/74; forward £l3B 3/9. Silver: Spot 18 5-16 d; forward 19:jd. SYDNEY WOOL SALES. MARKET REMAINS FIRM. (Rec. 9.30 p.m.) Sydney, November 24. At the wool sales the market was firm with good general competition and slightly increased support from the United States. Greasy Merino made to 184 d. To-day 10,531 bales were offered and«939l sold, also 1200 which were disposed of privately. The average price of the wool sold last week was £l2 15/6 a bale, equal to lOd a pound. FOREIGN EXCHANGES. (British Official Wireless.) Rugby, November 23. The following rates on foreign exchanges

for the last two sales: — Nov. 24. Nov. 17. Store Cattle 92 102 Fat Cattle 153 82 Store Sheep 422 105 Fat Sheep 448 385

are current to-day, compared with par: — Par. Nov. 23. Montreal, dol. 4.866 184 New York, dol. 4.S66 3.661 Paris, fr. 124.21 93? Brussels, belga 35.00 26 13-32 Geneva, fr. 25.22 19 1 Amsterdam, fl. 12.10 9.12 J Milan, lire 92.46 7 1 <-s Berlin, r.m. 20.43 15 7-16 Stockholm, kr. 18.159 19 Oslo, kr. 18.159 18:] Copenhagen, kr. 18.159 18J Vienna, sch 34.585 28 Prague, kr. 24.02 1234 Helsingfors, mark 129.23 194 Madrid, pes. 25.225 43? Lisbon, escu 4 J109? Athens, dr. 375.00 300 Bucharest, lei 25.225 615 llio de Janeiro, mil. 5.899d 3 15-16 Buenos Aires, dol. 47.57d 37? Montevideo, dol. 47.57d 28 Bombay, rupee 18d IS 7-64d Shanghai, tael . 21 9-32d Hong Kong, dol. — 16 9-32d Yokohama, yen 24.5Sd 31d