COMMERCIAL

Southland Times, Issue 21579, 17 December 1931, Page 3

COMMERCIAL

CITY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Australasia: b £S 17/C. Commercial: b 16/3; s 16/6. E.S. and A. Bank: s 90/-. National of Australasia (cont.): s £5 5/-. National of New Zealand: s 90/-. i New South Wales: b £2B 5/-. New Zealand: b 45/6; s 46/6; long “D’ Issue: b 25/-. Union of Australia: b £7 15/-; s £B. Breweries. New Zealand Breweries (shares): b 28/-; s 29/6. Tooth’s Brewery: b 22/3; s 23/-. Coal. Westport Coal: b 24/6; s 25/6. Kaitangata: b 3/6 dis. Insurance. National: b 12/6; s 13/-. New Zealand: b 40/-; s 41/-, Standard: s 44/6. Loan and Agency. Dalgety and Co.: s £8 4/-. Goldsbrough, Mort and Co.: b 23/3; s 24/3. Meat Companies. Gear Meat Co.: b 28/-. New Zealand Refrigerating (20/- paid) : b 11/3, s 12/-; (10/- paid): b 4/9, s 4/11. Southland Frozen Meat (£1 ord.): b 34/6; (10/- ord.): b 17/3; (£1 pref.): b 34/6.

Mining. Cornish Point: s sd. Electrolytic Zinc (pref.) : b 19/-. Kildare: b 1/7; s 1/10. King Solomon: s 2/2. Mount Lyell: b 20/6; s 21/3. Mahakipawa: b 4d; s 5-Jd. Okarito: b 10/-; s 10/6. Waihi Gold Mining: b 16/-. Waihi Grand Junction: b 3/6; s 4/-. Golden Terrace: s 7/6. Shipping. Huddart-Parker: b 22/3. Woollen Mills. Mosgiel: b £6 13/-. Miscellaneous. Christchurch Gas Co.: b 25/-. Colonial Sugar Co.: b £3B. Donaghy’s Rope and Twine: ; b 28/6. Milburn Lime and Cement: s 29/-. New Zealand Drug: s 50/-. New Zealand Guarantee Corporation: s 5/8. New Zealand Paper Milk: b 18/6. Otago Daily Times: b 45/-. Southland Guarantee Co., Ltd.: s 5/6. Debentures. Government Inscribed Stock, 44 per cent., 1938: s £97. Government War Bonds, 4X per cent., 1938: s £97. Government Inscribed Stock, 4/ per cent., 1939: s £97. Government War Bonds, 44 per cent., 1939: s £97. Government Bonds, 51 per cent., 1937: b £99 10/-. Government Stock, 54 per cent.. 1937: b £99 10/-. Late Sale Yesterday. 1938 Bonds, 4J per cent.: £96 5/-. NORTHERN EXCHANGES. Auckland, December 16. Sales on ’Change: Inscribed Stock (1937) 54 per cent £100; Bank of New Zealand (2) 45/9; South British 53/9; Kauri Timber 10/4; Australian Glass 29/14; Wilson’s Cement 35/-; Mahakipawa sd; Waihi (late sale Tuesday) 16/2; Okarito (2) 10/1. Wellington, December 16. Sales reported: Bank of New Zealand £2 6/- (late Tuesday) ; New Zealand Refrigerating Co. (10/-) 4/8 (late Tuesday), 4/9; Union Steam (pref.) £1 0/6; New Zealand Government 44 per cent. Stock (1938) £96 16/3; National Bank of New Zealand £4 5/- cum. div.; New Zealand Government 5'4 per cent. Stock (1936) £99 15/-; (1937) £lOO. Christchurch, December 16. Sales on ’Change: Commercial Bank of Australia 16/5 (2) ; National Bank of New Zealand (cum. div.) £4 5/-; New Zealand Refrigerating (10/- paid) 4/8 (5); British Tobacco (cum. div.) 26/2, 26/6 (2); Golden Dawn 7/1, 7/2, 7/1; Golden Point 74d (5). Sales reported: National Bank of New Zealand (cum. div.) £4 5/-; Mt. Lyell (cum. div.) 20/6; Tooths and Co. 22/8. Dunedin, December 16, Sales on ’Change: Westport Coal 24/6; Okarito 9/11 (3).

ADDINGTON STOCK SALE. SLUMP IN FAT STOCK. WWEST LEVEL FOR 40 YEARS. Christchurch, December 16. In several of the fat stock sections at the market at Addington to-day, low levels in values were reached which have had no parallel for periods ranging from 15 to 40 years. One of the principal relapses was in the fat cattle section in which values fel Ito a level which was not within the recollection of the great majority of buyers and auctioneers, and which some state had a parallel about 40 years ago. Store sheep.—A moderate entry with Romney wethers and ewes and lambs making up the principal section of the offering. A dull sale with ewes and lambs showing a decline in values. Wethers sold comparatively well. Values were: —Ordinary ewes and lambs to 5/9, medium ewes and lambs to 7/-, good four and six tooth Romney cross wethers 11/- to 13/8, medium four arid six-tooth Romney cross wethers to 9/4, good four and six-tooth Romney cross ewes to 11/-, good two-tooth halfbred ewes to 10/4; Merino wethers to 3/-.

Fat lambs.—An entry of 4500. An exceptionally large and steady market with values up to and slightly above the new schedule rates of 51d for firsts. As compared with the last market, prices receded by 2/- to 3/- a head. Values were. —Show lambs to 25/4, extra prime 18/6 to 20/6, prime 16/6 to 18/-, medium 13/- to 16/-, light 10/- to 12/6. Fat sheep.—An entry of 5100. The sale was steady at rates showing a decline of 1/- a head for both classes. Values were. — Extra prime heavy wethers to 20/4, prime heavy 18/- to 19/6, medium weight prime 15/9 to 17/9, ordinary 13/- to 15/-, light 9/6 to 12/-, prime ewes to 15/1, medium weight prime 11/9 to 13/9, ordinary 9/to 11/-, light 7/- to 8/9. Fat cattle.—An entry of 525 head. The quality was greatly improved. A very dull sale. The market was over-supplied and values were the lowest known at Addington for nearly 40 years. Best beef made 22/6 to 25/- per lOOlbs, good beef 19/- to 22/-, heavy beef 16/- to 20/-, inferior beef to 13/-, rough down to 7/-. Values were.— Extra prime heavy steers, to £l2 12/6, prime heavy £8 15/- to £ll, prime medium weight £6 to £8 10/-, ordinary £3 10/- to £6, light to £3, extra prime heifers to £lO 7/6, prime £6 to £B, medium <£3 10/to £5 10/-, light to £3, extra prime cows to £8 17/6, prime £4 10/- to £7, medium £2 10/- to £4 5/-, light £1 10/- to £2 5/-.

Fat pigs.—The prices paid were the lowest at Addington since the period about the commencement of the Great War. The market was heavily over-supplied. Values were.—Choppers 35/- to £6 6/-, baconers 32/6 to 38/6, heavy baconers 40/6 to 44/6, average price per lb 3d to 4d, porkers 24/6 to 27/6, heavy porkers to 30/6, average price per lb 4d to sd. BURNSIDE STOCK SALE. A BUOYANT MARKET. FAT LAMB PRICES. Dunedin, December 16. There was a buoyant market for fat lambs at the Burnside stock sales to-day and prices showed an advance of from 2/- to 3/- per head on the rates obtained at the previous sale. The sheep sale was weak and prices were a shade easier. There was no improvement in the fat cattle section and the sale was erratic, values being lower to the extent of about £1 per head at the commencement, but a recovery was noted when the last two races were sold and closing values were on a par with those realized last week. The pig market was more buoyant and prices showed a slight improvement. The fat cattle entry numbered 230 head. The yarding comprised a good mixture of young and matured animals, a fair sprinkling of heifers and cows and a few prime handy-weight bullocks. There was a weak demand practically throughout the sale. Heavy bullocks sold to £lO 10/-, medium to £8 10/-, light to £5 10/-, heavy heifers to £7, medium to £6 5/-, light to £5, heavy cows to £7, medium to £5 15/, and light to £5. Prime ox beef sold on a basis of about 21/- per 1001 b. About 2300 sheep were offered. The whole yarding, with the exception of 150 head, was shorn. The quality was very fair, but only a few pennings of well finished heavy wethers and light wethers were forward. Prime wethers sold to 22/-, medium to 19/9, light to 17/9 and prime ewes to 13/3, medium to 12/6, and light to 9/6. The lamb entry numbered 500 head. Good quality lambs were included in the yarding. There was a brisk demand throughout the sale. Shorn lambs sold to 19/3, prime heavy to 17/-, prime medium weights to 14/9 and light from 9/9 to 10/6. Several pens of fair quality steers were included in a yarding of 120 store cattle. Four-year-old steers sold to £6 7/-, three-year-olds to £4 2/6 and two-year-old from £2 10/- to £3 1/-. The yarding also included 25 medium weight steers. The pig entry comprised 112 fats and 65 stores. All classes met with a fairly good demand and the prices realized for prime porkers were equivalent to about 64d and for prime baconers about 5d per lb. CLEARING SALE. (From Our Correspondent.) The New Zealand Loan and Mercantile Agency Co., Ltd., held a very successful clearing sale at Pukemaori last Saturday, on account of Mr John Lloyd, when there was a good attendance of buyers and others interested. Following is a range of the prices obtained:— Sheep: 63 ewes 6/7, 69 lambs 6/7, 60 ewes and 69 lambs 6/6, 51 ewes and 64 lambs 6/-, 2 Border Leicester rams 21/-, 3 do. 11/-, and 2 Shropshire rams 30/-. Cattle:—Dairv cows, 1 at £2 10/-, 2 do. £2 17/6, 4 do. £5, 2 do. £4 15/-, 1 do. £2 15/-, 1 do. £4, 1 do. £3 12/6, 1 do. £3 2/6, 1 do. .£5 5/-, 1 do. £4 12/6, 1 heifer £3 10/-, 1 do. £2 2/6, 1 yearling bull 22/6, 4 heifer calves 10/-. Horses: Four-year-old gelding £2l, 1 aged gelding £2 and 1 hack £l. Implements, Etc.: Trolley £2 2/6, grass seed 27/6, chaff 50 bags 3/,- 40 do. 2/6, 56 do. 2/6, collars 13/- and 16/-, workers 5/-, bridle 2/-, hames 6/-, block and tackle 10/-, horse cover £l, ton of basic slag £2 10/-, vyce 14/-, wire strainer 11/,- wire 34/-, Cyclone netting £3, posts 12/-, stakes 16/-, swingle tree 7/-, plough chains 3/and 5/- each, tripod harrows £4 15/-, 4-leaf harrows £4 10/-, scuffler £2 7/6, single furrow plough £5 2/6, discs 30/-, roller £6, ridger £2l, gig £l, 6 milk cans 15/- each, and sewing machine £l. Sundries sold at full market rates. LONDON WOOL SALE. A QUIETER TONE. London, December 15. At the wool sales 12,980 bales were offered including 6382 from New Zealand. Approximately 6700 were sold. There was a quieter tone, suggesting that buyers have filled the bulk of their requirements and more frequent withdrawals owning to high limits. The sales maintained late rates. New Zealand greasy crossbreds “Wairere” lOjfd and BJd; lamb, slipes “C.F.M.” lljd and 8?d. SYDNEY WOOL SALES. HEALTHIER TONE YESTERDAY. (Rec. 9.35 p.m.) Sydney, December 16. At the wool sales 11,992 bales were offered and 950-1 sold, also 1779 which were disposed of privately. There was more general competition and a healthier tone today, prices ruling firm at yesterday’s rates for all descriptions. Greasy Merino sold to 15Jd. DAIRY PRODUCE. Mr G. Blaxall reports having received the following advice from Messrs Lovell and Christmas, Ltd., London, dated December 15, 1931:—Butter: 101/-, 103/-. Cheese: 59/- coloured, 61/- white. Both markets dull. Messrs Henderson and Co., Ltd., have received the following cable, dated December 16, from their London principals, Messrs Trengrouse and Nathan, Ltd.: “Butter: Finest 102/-, first 99/-. Cheese: White 58/- to 60/-, coloured 56/- to 58/-. Quotations nominal, nothing doing.” CHICAGO WHEAT. (Rec. 7.0 p.m.) New York, December 15. Chicago Wheat: December 55}, March 57}, May 59, July 57} cents a bushel.