COMMERCIAL

Southland Times, Issue 21578, 16 December 1931, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGED YESTERDAY’S QUOTATIONS. At yesterday morning’s call-over of the Invercargill Stock Exchange the following prices were quoted:— Banks. Australasia: s £9 3/-. Commercial: b 16/2; s 16/6. E.S. and A.: b £4 6/-; s £4 11/-. New Zealand: b 45/6; s 46/3. Union of Australia: b £7 16/-; s £8 1/-. Breweries. Dunedin Brewery Company: b 19/6. New Zealand Breweries (shares): b 28/6; s 30/-. Tooth’s Brewery: s 23/-. Coal. Westport: b 24/6; s 25/6. Kaitangata: b 3/6 (dis.). Insurance. National: b 12/8; s 13/-. New Zealand: b 40/6; s 41/3. Standard: s 44/6. Loan and Agency. Dalgety and Company: s .£8 4/-. Goldsbrough, Mort and Company: s 24/3. Meat Companies. Gear Meat Company: b 27/-. Now Zealand Refrigerating (10/- paid): b 4/10; s 5/1. Southland Frozen Meat (£1 ord.): b 34/6; (10/- ord.): b 17/3; (£1 pref.): b 34/6. Mining. Cornish Point: s sd. Kildare: b 1/8; s 1/10. King Solomon: s 2/34. Okarito: b 10/4; s 10/9. Waihi Grand Junction: b £3 S/-. Golden Terrace: s 7/6. Woollen Mills. Mosgiel: b £6 13/-. Miscellaneous. British Tobacco (Aust.): b 26/4. D.I.C. (ord. I: b 11/6; (pref.): s 20/3. Dominion Investments: b 23/-. Donaghy’s Rope and Twine: b 28/6. Milburn Lime and Cement: b 27/6; s 30/-. New Zealand Drug: b 46/-; s 50/-. . New Zealand Paper Mills: b 18/-; s 20/-. Otago Daily Times: b 45/-. Wilson’s (N.Z.) Porthind Cement: s 35/9. Debentures. Government Inscribed Stock, 44 per cent., 1938: s £96 10/-. Government War Bonds, 44 per cent., 1938: s £96 10/-. Government Inscribed Stock, 44 per cent, 1939: s £96 10/-. Government War Bonds, 44 per cent., 1939: s £96 10/-. Government Bonds, 54 per cent, 1937: b £99 10/-. Government Stock, 54 per cent, 1937: b £99 10/-. NORTHERN EXCHANGES. (Per United Press Association). Auckland, December 15. Sales on ’Change: Insurance Stock (1938) 44 per cent. £96 10/-; do. (1936) 5} per cent. £100; do. (1937) 51 per cent. £lOO 5/-; Commercial Bank of Australia (pref.) £6 5/-; Bank of New Zealand 45/9; New Zealand Insurance 40/6; Kauri Timber 10/4; Robinson Ice 17/6; Waihi 16/3 (2), 16/2. Wellington, December 15. Sales reported: New Zealand Government 44 per cent. Bonds (1938) £96 15/-; Wellington Gas Co. Debentures £lOl (late Monday) ; Union Bank of Australia £7 18/-; New Zealand Government 44 per cent. Stock (1939) £96 5/-; 54 per cent. Bonds (1937) £lOO 5/-; Colonial Sugar Co. £3B 7/6. Christchurch, December 15. Sales on ’Change: New Zealand Government 54 per cent. Inscribed (1933) £99 7/6; Goldsbrough Mort 24/- (2) ; New Zealand Refrigerating (10/- paid) 4/10 (2); Toohey’s Brewery 15/7; British Tobacco (cum. div.) 27/- (2); Golden Point 71d; King Solomon 2/-; Okarito 10/3. Sales reported: New’ Zealand Government 54 per cent. Inscribed (193 G £100; New Zealand Government 51 per cent. Inscribed (1937) £99 15/- (2); Union Bank of Australia £7 IS/-; New Zealand Refrigerating (10/- paid) 4/94; Kauri Timber 10/4. Dunedin, December 15. Sales on ’Change: New Zealand Refrigerating (cont.) 4/10; Paddy’s Point 2/9; Okarito 10/1. Sales reported: 54 per cent. Bonds (1937) £lOO (two'.) LORNEVILLE STOCK SALE. FAT SHEEP VALUES DECLINE. Exceptionally heavy yardings in all sections, compared with those at the last sale at Lorneville a fortnight ago had the effect of reducing values at yesterday’s sale, particularly those of fat sheep which showed a drop from 2/- to 4/- per head. The demand was not equal to the supply, consequently prices suffered. There was a good yarding of prime quality lambs forward and the operations of one exporter had the effect of keeping this market firm. Following is a comparative table of yardings for the [>ast two sales Dec. 14. Dec. 1. Store Cattle 210 158 Fat Cattle 227 191 Fat Sheep 1412 1317 Store Sheep 553 469 Included in yesterday’s yardings were 234 fat lambs, 6 vealers, 15 bulls and 13 dairy cows. STORE SHEEP: The yarding was comprised chiefly of old ewes and lambs, and the market showed a drop on recent sales of about 1/6 per head. Values ruled from 2/8 to 4/10 all counted. STORE CATTLE: A fair number of mixed sorts were forward, and the sale was draggy, prices being easier. Yearlings sold from 20/- to 35/-, 2-ycar-olds from 50/to £3 15/-, 3-year-olds £4 15/- to £5 10/-, empty cows 20/- to £2 19/- according to quality. FAT SHEEP: There was a largo yarding consisting chiefly of fat ewes, the total number being much in excess of requirements. The sale opened with fat ewes about 1/6 and fat wethers about 1/- lower than last week, but as the sale progressed fat ewes were probably 3/- and wethers probably 2/- lower than last week. Prime shorn wethers realized up to 17/-, medium weights 13/- to 15/-, light weights down to 10/-, medium woolly wethers up to 18/6, prime shorn maiden ewes up to 11/-, good quality ewes 8/6 to 10/-, inferior sorts down to 5/-, prime woolly maiden ewes up to 14/-, good quality woolly ewes 11/- to 12/6, inferior down to 9/-. FAT LAMBS: There was a full yarding of good quality lambs. Heavy butchers’ weights realized from 15/- to 17/3, good quality sorts 12/6 to 14/-, light weights down to 10/6. In this section it was anticipated that freezing buyers would operate, but they seemed only inclined to do so at the lower prices. FAT CATTLE: Probably this was the largest yarding at Lorneville for some considerable time. The quality all round was good and evenly distributed amongst all classes. The sale opened about 10/- lower than the closing rates of last sale, but increased to about 30- at the closing of the sale. Prime ox and choice heifer beef realized in the vicinity of £1 per 1001 b with poorer quality sorts considerably lower. Prime heavy ox realized up to £9 15/-, prime medium weights £7 15/- to £8 10/light weights down to £5 10/-, prime heavy heifers up to £7, good medium weights £5 5/- to £6, lighter down to £4, prime heavy cows np to £7, good quality medium weights £4 15/- to £5 10/-, inferior down to £2 10/-. VEALERS: There was only a medium demand, real good sorts bringing up to £3 10/-, medium quality up to £2 10/- and ordinary sorts down to £L j

• McNAB STOCK SALE. YESTERDAY’S OFFERING. There was a very small entry at the fortnightly stock sale at McNab yesterday, and little interest was taken in the sale, a fair proportion of the yarding being passed in at auction. Sales were: — Southland Farmers’ Co-op. Association., Ltd.: 15 fat ewes 10/-, 15 ewe hoggeU 8/-, 2 fat bullocks £6 17/6, forward cow £1 12/6, do. £3 5/-. Passed in: Cow and Calf £l, do. £2, 21 steers and heifers £l. Henderson, Reid (Ltd.): Two fat wethers 11/-, ewe and two lambs 8/9, 3 ewes and lambs 2/-. Pascsd in: 9 ewes and 9 lambs 3/9, 41 ewe hoggets 9/3, 139 ewes and 149 lambs 7/-. INFLAMED UDDERS MEAN LOSS OF PRODUCTION. There is no reason why you should let your cows suffer from sore teats and inflamed udders. Such signify pure carelessness. Your money comes from the cows hut only when they are cared for. Sykes’s Animol is an antiseptic and scientifically formulated preparation, specially made to destroy bacteria. It cures. Recommended by veterinarians. Sykes’s Animol is sold everywhere at Is. 6d. and 2s. 6d. tin. A trial will convince you. WOOL AND SKIN SALE AT WINTON, TOTAL CLEARANCE OF LARGE ENTRY. (From Our Correspondent.) At the periodical wool and skin sale at the Central Auction Mart at Winton, on Monday, 11 bales and 106 bags of wool and 1000 sheepskins were offered. Following on the bad reports of northern wool sales prices showed a decline from -Jd to Id per pound on the previous sale, except in the case of good crutchings and pieces which did not fall to such a large extent. Sheepskins were also dull of sale although super lots of freshly skinner! full-woolled skins made fair values. Vendors in almost even' case met the market and practically a total clearance was made. GRAIN REPORT. Messrs Donald Reid and Co., Ltd., Dunedin, report as under:— Wheat: There are no milling transactions to record, this quality has been all disposed of. Fowl wheat has been in keen demand and values were increased by Id per bushel. The bulk of the good whole fowl quality has now been disposed of, and there remains only the poorer kinds to sell. The wholesale rate for good whole fowl wheat is 5/1 f.o.b. sacks extra. Oats: There is little business passing, very few lines of quality are left to sell. Merchants are offering 2/2 on trucks, for A grade and 2/- for B grade, sacks extra, on trucks, country stations. There have been several inquiries from the north for the incoming season's oats, and a little booking has already’ been done. Farmers, however, in this district are more disposed to wait until they' have their crops threshed before they will consider selling. Chaff: There is ample chaff available for all requirements. Prime alone is saleable in reasonable time after arrival. Medium and inferior accumulate in store and are difficult to quit at anything like reasonable money. Prime is worth £4 per ton, ex truck, for truck lots, and small lots ex store are being sold at £4 10/-, sacks extra in each case. Potatoes: Old potatoes are now practically' off the market. The season right through has been very even. Prices did not fluctuate to any extent at any period. The results to the grower have been disastrous and though the price has been much lower than has been the case for many' years consignments were always difficult to sell on arrival. PRICE OF GOLD. London, December 14. Gold is quoted at £5 18/9 per oz. LONDON WOOL SALES. LATE RATES MAINTAINED. London, December 14. At the wool sales 11,174 bales were offered, including 5235 from New Zealand. The Home and Continental competition was well sustained and late rates were maintained. New Zealand halfbrcds “fighting hill” lljd to Hid; crossbred, “purimu” 9Jd and B|d; scoured New Zealand combings “Mount Gerald” 19 Ad and 17id. Bradford is quiet and steady. SYDNEY WOOL SALES. MARKET REMAINS FIRM. (Rec. 4.95 p.m.) Sydney, December 15. At the wool sales 10,628 bales were offered and 9761 sold, also 911 which were disposed of privately. The market was firm at yesterday’s rates. Greasy' Merino fleece sold to 244. The average price at the last Sydney series was £2 18/- per bale or 9.64 d per lb. LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated sth instant, from the High Commissioner for New Zealand, London:— Tallow: No auction until next week. Market quiet and steady on spot. Little business has been done for shipment. Spot quotations nominally unchanged. Hemp: Manila—Quiet trade demand. Business has been done by second-hand in “K” grade for November-January shipment at £2O and for January-March shipment at £2O 12/6. Value at the close 7/6 lower. Sisal. —Market active and large business has been done. No. 1 fair average quality for November-January shipment ( and De-cember-February shipment sold up to £l7 10/-; January-March shipment £l7 15/-. Slightly easier at the dose. New Zealand.—Market quiet with small business reported for December-February shipment at Fair £18; Common, £l7 5/-; Rejected £lfi> 5/-. DAIRY PRODUCE. ADVANCE IN PRICES. Messrs W. Weddel and Co., Ltd, cable that both butter and cheese quotations have advanced 2/- per cwt, and that there is a better feeling in the market. Quotations are now as follows:—New Zealand salted butter 106/- to 110/-; unsaltcd butter 116/- to 120/-; New Zealand cheese, white 64/- to 66/-; coloured 62/to 64/-. Messrs Henderson and Co., Ltd., report having received the following cable dated 15th instant from their London principals, Messrs Trengrouse and Nathan, Ltd.:— Butter: Finest 104/-, first 102/-. Quiet. Cheese: White 61/-, coloured 59/-, Weak; no demand. WHEAT MARKET, London, December 14. Wheat: Cargoes are steadily held, especially Australians, owing to good Oriental demand. Manitobas are easier on the exchange. There is good tonnage inquiry for Argentine on European account. Parcels are quiet and easier on the sterling improvement and closed steadier. Futures: London, December 23/10, February 24/2, June 25/1; Liverpool, December I 5/01, March 5/SJ, May 5/ZJ per centaL I

THE METAL MARKET. (Rec. 9.45 pan.) London, December 15. All metals are easier than last week. Quotations: — Copper: Standard, spot £36 9/4j; forward £37 7/104. Electrolytic. Spot £43 10/-; forward £45 10/-. Wire Bars: £45 10/-. American Electrolytic: 6J cents a pound. Lead: Spot £l4 16/9; forward £l5 1/3. Spelter: Spot £l4; forward £l4 10/-. Tin: Spot £136 18/9; forward £139 18/9. Silver: Standard, spot 19 13-lGd; fine 21|d. ' Gold; £5 18/9 per oz.