COMMERCIAL

Southland Times, Issue 21770, 27 July 1932, Page 2

COMMERCIAL

THE STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At a call-over on the Invercargill S.ack Exchange yesterday morning, the following prices were quoted:— Banks. Commercial: b 13/10; s 14/1. E.S. and A. Bank: b 80/-. National of New Zealand: b 67/-; s 70/-. New South Wales: b 26/-; s 27/-. New Zealand: s 46/9; Long “D” issue: b 25/3. Union of Australia: s £7. Breweries. Dunedin Brewery Co.: b 19/-. New Zealand Breweries (shares): s 25/3. Coat Westport Coal: b 12/-. Kaitangata: b 3/- dis; s 1/- dis. Insurance. National: b 12/5; s 12/9. New Zealand: b 40/-; s 40/9. South British: b 52/3. Standard: b 40/9. Loan and Agency. Dalgety and Co.: s £7 7/6. Goldsbrough, Mort and Co.: b 21/6. New Zealand Loan and Mercantile: b £36. Wright, Stephenson and Co. (ord.): b 10/6. Meat Companies. New Zealand Refrigerating (10/(paid): s 4/7. ' Southland Frozen Meat (£1 ord.): b 35/-; (10/- ord.): b 17/6; (£1 pref.): b 35/-. South Otago Freezing Co.: b 40/-. Mining. Electrolytic Zinc (ord.): b 11/-. Kildare: s 1/9. King Solomon: s 2/-. Okarito: b 5/10; s 9/3. Waihi Grand Junction: b 2/9. Gillespies: s Jd prem. Paddy’s Point: b 5/-; s 5/9. Shipping. P. and O. S.N. Co. (def. stock): b 15/-. Burns, Philp: b 38/-. Woollen Mills. Kaiapoi (ord.): b 4/9. Miscellaneous. British Tobacco (Aust.): b 27/11, Colonial Sugar Co.: b £4l 10/-. D.I.C. (ord.): s 12/-. Dominion Rubber Co.: s 5/-. Milburn Lime and Cement: b 24/-; s 24/11. Nev/ Zealand Drug: b 53/-. New Zealand Farmers’ Fertilizers: b 12/9. New Zealand Paper Mills: s 21/-. Wilson’s (N.Z.) Portland Cement: b 30/6. Debentures. Government Inscribed Stock, 41 per cent., 1938: b £96. Government War Bonds, 4} per cent., 1938: b £96. Government Inscribed Stock, 41 per cent., 1939: b £96. Government Inscribed Stock, 41 per cent., 1939: b £96. Government War Bonds, 41 per cent., 1939: b £96. Government Bonds, 5j per cent., 1933: b £99 5/-. Government Stock, 51 per cent., 1933: b £99 5/-. Government Bonds, 51 per cent., 1937: b £lOl. Government Stock, 51 per cent., 1937: b £lOl. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, July 26. Sales on ’Change: Commercial Bank of Australia 14/-; South British 54/6; New Zealand Breweries 24/11, 25/-; British Tobacco 28/-; Golden Dawn 4/9J, 4/8; Golden Point 6Jd; King Solomon 1/10, 1/11; New Zealand Refrigerating (£1 paid) 12/- (con.) 4/5. Wellington, July 26. Sales on ’Change: National Bank of New Zealand £3 9/6; Bank of New Zealand £2 6/6. Sales reported: Commercial Bank of Australia (ord.) £l3 11/- (late Monday); Bank of New Zealand £2 6/6 (late Monday); £2 6/6 (2 sales). Christchurch, July 26. Sales on ’Change:—New Zealand Insurance (cum. div.) 40/3 (2); Dalgety and Co. £7 5/- (2); Goldsbrough Mort 22/1 (5); New Zealand Breweries 25/-; Mt. Lyell 17/2; Golden Dawn 4/7; Golden Point 61d (2); Mahakipawa 4d; Paddy’s Point 5/- (3); Okarito 8/9 (4) 8/91; Waihi 15/3. Sales reported:—New Zealand Government 51 per cent. Inscribed 1937 (Feb.) £lOl 5/-; New Zealand Government 5J per cent. Bonds (Sept.) 1937 £lOl 5/-; Ashburton Electric s:i per cent. 1933 £101; Colonial Sugar £4l 17/6, £4l 15/-; United Building 14/7. Dunedin, July 26. Sales on ’Change:—Okarito 8/10 (2); 51 per cent. Stocks 1936 £lOl 7/6. LORNEVILLE STOCK SALE. VALUES FOR FATS EASIER. Values for fats were easier at the weekly stock sale at Lorneville yester-

day. There were only small yardings forward, but competition was not keen and a decrease all round was recorded There were no entries forward in the store sheep section. Following is a comparative table of yardings for the last two sales:— July 26. July 19. Store Cattle 50 65 Fat Cattle 118 92 Store Sheep — 103 Fat Sheep 607 991 Included in yesterday’s yardings were 8 fat lambs, 42 dairy cows and 1 runner.

Fat Sheep.—Despite a smaller yarding, the market was a shade easier than last week. The offering comprised a few pens of extra good wethers and ewes. Indeed the whole yarding could be classed as of good quality. Heavy butchers’ wethers sold from 15/- to 16/6, medium 12/6 to 14/-, light down to 11/-, extra prime heavy ewes up to 9/-, good medium quality 7/- to 8/-, lighter down to 5/-. Fat Cattle. —There was an increase in this section and the quality all over was good. Values were easier than the previous week. Prime bullocks sold up to £7 15/-, prime quality medium weights £5 10/- to £6 10/-, prime heavy cows up to £6 15/-, good quality medium weights £4 15/- to £5 15/-, inferior down to £3, prime medium weight heifers up to £5 10/-. Store Cattle.—There was practically nothing offering in the store cattle section. There was a large entry of dairy cows, including a nice line of Holstein heifers. Best factory calvers made from £5 to £6 10/-, with unfinished sorts from £2 to £4, best heifers from £5 to £5 15/-, average £3 10/- to £4 10/-. HUNDREDS OF DAIRYMEN SAY SYKES’S ANIMOL IS THE BEST FARM OINTMENT THEY HAVE EVER USED.’’ MR T. WILKINSON, ST. HELEN’S, WESTPORT, writes: “Please find 2/6 for large tin Animol for Sore Teats. It is marvellous, the way it heals up sore and cracked teats. I have an Ayrshire Cow that has been a source of trouble for two seasons. Nothing I could find would heal up her teats, but after eight or nine days treatment with Sykes’s Animol she was completely cured and I find that if any of my cows’ teats get cracked a few applications heal them immediately. Sold all Stores— Jlbtins, 1/6; 11b tins, 2/6.— Advt. McNAB STOCK SALE. A SMALL ENTRY. The monthly stock sale was held at McNab yesterday, the offering of both sheep and cattle being small. The attendance was also small and the market slack. Sales were: Wright, Stephenson and Co., Ltd., offered and passed in 25 fat wethers 15/-. Southland Farmers’ Co-operative Association, Ltd.: 90 f. and f.m. ewes 3/10, heifer and calf 10/-. Passed in: Bull calf 10/-. National Mortgage and Agency Co., Ltd.: 24 fat ewes 4/6, 22 do. 2/-, 21 fat and forward lambs 5/-. GRAIN REPORT. Donald Reid and Coy., Ltd., report as under: Wheat: The seed demand is the principal source of business at present. Farmers are well ahead with soil preparation this season and sowing will no doubt be completed earlier than usual providing the weather remains reasonably fair. The values of milling wheat remain 4/91 for Tuscan; 4/114 for Hunters and 5/11 for Velvet, f.0.b., sacks extra. Fowl wheat is not creating much inquiry and there is ample available at prices ranging from 4/- to 5/- per bushi'jl, ex store, sacks extra.. Oats: The 'bulk of all grade oats have now been marketed, apart from a few specially selected lines required for seed purposes. The stores, however, are well stocked with undergrade lines and a lot of these will no doubt be difficult to place. A grade are worth up to 2/10 and B Grade 2/6, sacks extra on trucks at farmers’ sidings. Chaff: The local demand varies but little and there is generally sufficient on hand to meet all inquiries. Prime quality is always a saleable proposition, but the same cannot be said of the poorer grades which generally accumulate in store. Value remains at £5 per ton, ex store, or £4 10/- ex truck sacks extra for the best quality. Cow chaff from £3 ex store.

Potatoes: This market has eased still further. Northern merchants, who bought early in the'season for delivery in June and July have been unable to place all their purchases and are now offering stocks held in the stores to the local produce dealers at a much lower rate than what farmers have been obtaining recently. £5 ex truck Dunedin sacks in is the value to-day for freshly picked tables. Messrs Dalgety and Company, Ltd., report as follows: — Oats: Practically no samples are now offering from the country, but inquiries are still being received from merchants for grade oats, for which supplies have to be drawn from the limited stocks held in local stores. Millers are also buyers of lines suitable to their requirements. Current values on an on truck basis are 2/10 per bushel for A grade and 2/6 for B’s. Wheat: There is now no business passing in milling wheat, millers drawing their requirements from importations of Australian wheat. The locally grown crop appears to have been all marketed. Prices remain as follows:— 4/9J, f.0.b., for Tuscan; 4/114, f.0.b., for Hunters; 5/1, f.0.b., for Velvet. Fowl wheat remains in limited demand at from 4/3 to 5/- per bushel, ex store, according to quality. There is a steady inquiry for prime quality, but the demand is readily met from the occasional consignments which come to hand. Value of prime quality remains at £4 10/- per ton, ex truck, with £5 obtainable ex store in small quantities. Potatoes: Following on heavy shipments to the North Island the demand from there has slackened off considerably, and merchants holding potatoes originally intended for shipment are now prepared to sell locally. There appear to be very few now held in the country, and with some months still to go local supplies will probably be readily absorbed. Sales are at present being effected at up to £5 10/— per ton ex store for freshly picked lines.

LONDON MARKETS.

HIGH COMMISSIONER’S REPORT.

The Department of Agriculture has received the following cablegram, dated July 23, from the High Commissioner for New Zealand, London:— Tallow: Market is inactive and little offering either on spot or for shipment. Spot quotations nominally unchanged. Hemp: Manila—Market quiet but firm. K grade for August-October shipment sold at £l7 15/-. Output from January 1 to July 11, 466,000 bales against 668,000 for same period last year. Stocks in the United Kingdom at June 30, 28,980 bales against 18,989 at same time last year. Stocks in Manila at Ist July, 106,000 bales against 114,350 bales same time last year. Sisal—Market firm with fair demand for No. 1. Fair average quality for July-September shipment at £l5, and for August-October shipment, £l5 5/-. New Zealand—Market quiet with small business reported at slightly firmer rates. Closing values for JulySeptember shipment, Highpoints, £l5 10/- and Fair, £l4. Stocks in London

at June 30, 163 tons against 15 tons same time last year. Eggs: English—National pack 12/- to 14/-; ordinary pack 12/- to 12/6; Danish, 9/- to 11/9. , ± . „ Fruit: Apples—Market practically confined to fruit from store ex s.s. Port Huon and Rangitata consignments. Condition generaly sound. Fair demane at higher prices. Current prices are: Granny Smith, 12/- to 16/-; Dougherty, 10/- to 12/-; Rokewood, 9/- to 11/6; Stunner, Ballarat Seedling and Scarlet Nonpariel, 9/- to 11/-; Delicious, 8/6 to 11/-; Tasma, 9/- to 10/-; Statesman, Salome and Rome Beauty, forward condition, 8/- to 10/-. Pears— Balance of pears practically cleared at last rates quoted, when in good condition. UNION BANK OF AUSTRALIA. DIFFICULT YEAR EXPERIENCED. London, July 25. The Hon. Edmund Parker, presiding at the annual meeting of the Dank or Australia, said the bank had had a year of exceptional difficulty and anxiety in which it had been impossible to conduct banking normally or in view of political events to form any sound appreciation of the course of events. Alterations in the exchange in the middle of the exporting season had enforced a reduction of interest charges without any immediate corresponding reduction in interest allowances and had unfavourably affected the profits during recent months. The appreciable improvement in the political situation in Australia had reacted favourably upon the economic and financial position of the country. NEW ZEALAND APPLES. London, July 25. Apples are in strong demand. New Zealand ex store, Stunners 10/- to 12/-; Doughertys, Rokewoods ana Statesmen 11/- to 12/6; Granny Smith 14/- to 18/-. SYDNEY STOCK EXCHANGE. LITTLE VARIATION. (Rec. 8.40 p.m.) Sydney, July 2®. There was a moderate turnover on the Stock Exchange to-day with little variation in late rates. Sales:— £ s. d.

PRICE OF GOLD. London, July 25. Gold is quoted at £5 15/9 per ounce. PENINSULAR SHARES. ■London, July 25. Peninsular shares are quoted at 15/84. THE METAL MARKET. (Rec. 7.40 p.m.) London, July 25. Metal quotations compared with

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, July 26. Following are the rates of foreign exchanges compared with par:— Par. To-day.

National Bank (£10 paid) 12 10 0 Burns, Philp 2 4 0 Howard Smith 0 9 4 Fairymead Sugar 1 4 6 Australian Gas (A) 6 7 6 British Tobacco 1 12 3 Dunlop Perdriau 0 2 9 Tooth’s Brewery 1 9 6 Australian Glass 2 0 3 Goldsbrough Mort 1 4 9 Winchcombe Carson 1 0 101 Commonwealth Bonds (4 per cents) — 1938 98 0 0 1941 97 13 9 1944 97 17 6 1947 97 17 6 1950 98 0 0 1953 96 10 0 1965 96 10 0 1959 96 15 0 1961 96 17 6 Melbourne Sales. National Bank (£5 paid) 5 18 0 Goldsbrough Mort 1 4 9 Melbourne Gas 10 16 0 Dunlop Perdriau 0 12 11 Gordon and Gotch 1 7 0 Herald and Times 2 10 0 South Broken Hill, 2 2 9

those for July 20 are:— July 20. July 25. £ s d £ s d Copper, standard — Spot 25 8 9 25 10 0 Forward 24 18 9 24 11 3 Copper, electrolytic— Spot 27 15 0 27 10 0 Forward 28 15 0 28 10 0 American A nnrfc Wire bars 28 10 o Lead— Spot 9 5 0 9 12 6 Forward 9 12 6 9 16 3 Spelter— Spot 11 8 9 11 12 6 Forward 11 15 0 11 16 3 TinSpot 123 12 6 124 7 6 Forward 125 13 9 126 12 6 Silver (pence)— Standard 16 7-16 17 Fine 18j 18 5-16

Paris, fr to £1 124.21 90J New York, dol. to £1 4.862-3 3.55g Montreal, dol to £1 4.86 2-3 4.08 Brussels, belgas to £1 35 26.65 Geneva, kr. to £1 25.221 18.25 Amsterdam, guilder to £1 12.107 8.83 Milan, lire to £1 92.45 69J Berlin, marks to £1 24.43 14 31-32 Stockholm, kr to £1 18.150 19.471 Copenhagen, kr to £1 18.150 18 9-16 Oslo, kr to £1 18.150 20 Vienna, schillings to £1 24.251 311 nom. Urague, kr to £1 24.02 120 Helsingfors, marks to £1 193.344 235 Madrid, pesetas to £1 25.551 44 7-16 Lisbon, escudas to £1 5.501 110 Athens, drachma to £1 25.221 550 Bucharest, lei to £1 937 5971 Rio de Janeiro, pence to milreis 18 5 1-32 Buenos Aires, pence to pesos 47.82 34| Montevideo, pence to peso 51 30 Bombay, pence to rupee 18 18 1-16 Shanghai, pence to tael 23J 20 3-16 Hong Kong, pence to dol. 25.15 151 Yokohama, pence to yen 34.58 181