COMMERCIAL

Southland Times, Issue 21771, 28 July 1932, Page 2

COMMERCIAL

THE STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At a call-over on the Invercargill Stock Exchange yesterday morning, the following prices were quoted:— Banks. Australasia: b £9 5/-. Commercial: b 13/10. E.S. and A. Bank: b 80/-. . . National of New Zealand: s 70/-. New Zealand: • b 46/3; Long “D” Issue: b 25/3. r Union of Australia: s £7 2/6. Coal. Westport Coal: b 12/9, s 12/9. Kaitangata: b 3/- dis., s 1/- dis. Insurance. National: b 12/4, New Zealand: s 41/-. South British: b 52/-. Loan and Agency. Dalgety and Co.: s £7 7/6. National Mortgage: b 33/-. N.Z. Loan and Mercantile: b £36. Wright, Stephenson and Co. (ord.): b 10/6. Meat Companies.N.Z. Refrigerating (20/- paid): b 11/9, s 12/9; (10/- paid): b 4/6, s 4/6. Southland Frozen Meat (£1 ord.): b 35/-; (10/- ord.): b 17/6; (£1 pref.): b 35/-, Mining. Electrolytic Zinc (ord.): b 11/-, s 12/3; (pref.): b 20/-. King Solomon: s 2/-. Mount Lyell: s 17/9. Mahakipawa: b 3/-. Okarito: b 8/8, s 8/11. Waihi Gold Mining: b 15/-, s 15/6. Waihi Grand Junction: b 2/9. Gillespie’s Beach; s par. Golden Sands: b 1/6, s 1/9. Waitahu: s par. Kawarau: b 3d. Shipping. P. and O. S.N. Co. (def." stock): b 15/-. Miscellaneous. Australian Glass: b 34/6. Colonial Sugar Co: b £4l 10/-, s £42 10/-. D.I.C. (ord.): s 16/-. Dominion Rubber Co.: b 2/9. Donaghy’s Rope and Twine: b 29/-. Milburn Lime and Cement: s 25/-. New Zealand Drug:' b 53/6. New Zealand Paper Mills: b 20/-, 3 21/6. National Electric: s 9/-. Debentures. Government Inscribed Stock, 41- per cent. 1938: b £96. Government War Bonds, 4J per-cent. 1938: b £96, Government Inscribed Stock, 41 per cent., 1939: b £96. Government War Bonds, 41 per cent., 1939: b £96. Government Bonds, 51 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. Late Sales on Tuesday. 51 per cent. Inscribed Stock, Sept, 1937: £lOO 15/-. New Zealand Refrigerating: 4/4, NORTHERN EXCHANGES. .(Per United Press Association.) Auckland, July 27. Sales on ’Change; Commercial Bank of Australia 13/11; Bank of New South Wales £26. 11/6; National. Insurance 12/6; New Zealand Insurance 40/- (3); New Zealand Breweries 25/- (2);’British Tobacco 28/1-J, 28/3; Colonial Sugar £4l 15/-; Farmers’ Trading 4/-; Gear Meat 31/6; Wilson’s Cement 30/-; Alexander 13/6; (pd.) 17/6; Waihi 15/4., Wellington, July 27. Sales on ’Change: Bank of New Zealand £2 6/6; Bank of New Zealand (long term) £1 6/6; British Tobacco Co. (ord.) £1 8/3. Sales reported: Bank of New' Zealand £2 6/6; Gear Meat Co. £1 11/-; Colonial Sugar Company £4O 17/6. Christchurch, July 27. Sales on ’Change: Commercial Bank of Australia 13/9; Bank of New South Wales £26 12/6; Bank, of New Zealand 46/6, 46/7; New Zealand Insurance (cum. div.) 40/3; Dalgety and Company £7 5/-; New Zealand Refrigerating (£1 paid) 11/11; do. (10/- paid) 4/5; New Zealand Breweries 25/- (2); British Tobacco 28/3; Mt. Lyell 16/11, 16/10; Okarito 8/10. Sales reported:—British Tobacco 28/-, 28/1; 51 per cent.. Inscribed (Feb.) 1937 £lOl 5/-. Dunedin, July 27. Sale reported: 4i per cent. Inscribed 1938 £96.

ADDINGTON MARKET. FAT CATTLE. AN ERRATIC SALE. Christchurch, July 27. A feature of the Addington market was the heavy consignments of the North Island, Otago and West Coast in the fat cattle section and the heavy supply of fat sheep, constituting a record and including drafts from Otago and Southland. Store Sheep: There was a mixed entry, with useful ewes sought. There was little life in the market. Prices maintained late rates.. Values wero: Medium 4 and 6-th threequarter-bred ewes to 15/1, ordinary 4 and 6-th halfbred to 12/-, ordinary 2-th threequarterbred to 13/-, good s.m. halfbred 12/1, ordinary s.m. halfbred 9/4 to 9/6, s. and f.m. to 6/-, medium wether lambs 7/7 to 8/-. Fat Lambs: There was an entry of 1400 head, including many good quality butchers’ sorts. They were back 1/- a head and medium lambs back 3/a head on late rates. Values were: Extra prime lambs to 18/7, prime 13/to 16/6, medium 9/- to 12/6, light 6/6 to 8/6. ■ Fat Cattle: The entry was 260 head, including 122 head from the North Is-

land and about 50 from the West Coast, Otago and Southland.' It was a very erratic sale, but the market for really prime beef was better than at the preceding week’s market. Sixty head of North Island steers averaged £ll 10/-, and heifers and cows from Gisborne £8 and £7 respectively. Best beef made up to 27/6 per lOOlbs, good 22/to 25/6, heavy to 23/-, secondary 17/6 to 20/-, inferior 15/- to 17/6, and rough down to 11/-. Values were: Extra prime heavy steers to £l2 17/6, prime heavy £9 to £ll 10/-, prime medium weight £7 5/- to £9, medium quality £3 5/~ to £6 15/-, light to £5, extra prime heifers to £lO 7/6, prime £7 to £8 10/-, medium £5 to £6 10/-, light to £4 15/-, extra prime cows to £9 17/6, prime £6 5/- to £7 15/-, medium £4 to £6, light to £3 10/-. Fat Sheep: The entry was 8000. A steady demand was maintained, rates showing a decline of 1/- to 2/- a head. Values were: Extra prime heavy wethers to 17/10, prime heavy 15/6 to 17/-, prime medium weight 13/6 to 15/-, ordinary 11/- to 13/-, light 8/6 to 10/-, extra prime heavy ewes to 15/7, prime heavy 11/- to 13/6, prime medium weight 9/- to 10/6, ordinary 5/6 to 8/6, light 3/- to 5/-. Fat Pigs: There was a medium entry. The demand was fair and late rates were maintained. Values were: Choppers £2 10/- to £5 6/-, baconers 47/6 to 54/6, heavy £3 to £3 8/-, extra heavy to £3 16/6, average price a lb 41d to sd, porkers 24/6 to 32/6, heavy 36/6 to 40/6, average price a lb 53d to 63d. BURNSIDE MARKET. FAT CATTLE IMPROVE. EWES SELL AT ADVANCE. Dunedin, July 27. Fat cattle sold at advanced rates at the Burnside sales to-day, and a very satisfactory sale was reported. Starting with a rise of 10/- a head, the market improved another 10/- before the close of the sale. In the sheep section wethers and ewes realized improved prices, and pigs met with a keen sale. In a short yarding of 179 head of fat cattle were several pens of good handy weight bullocks, but no heavy weights. The forward top price foi the best bullocks was £l4. Other lots sold from £lO to £l2 10/-, while light plain steers brought from £8 to £lO. Only a few heifers were penned and the usual number of cows included an entry of several good heifers. They sold to £7, and good cows from £5 to £6. Prime ox beef was worth SO/—, heavy plain 27/6 and cows and heifers from 25/- to 27/6 per 1001 b. About 1700 sheep and hoggets were yarded. The entry included several pens of extra heavy ewes and a large number of medium weight ewes of good quality. One truck of extra heavy wethers and two or three trucks of nice quality medium weights comprised this section of the market. Prices for wethers improved about 2/- a head, selling from 16/- to 20/-. Ewes also sold at an advance of 2/- per head, good young sorts bringing from 10/- to 14/-, medium weights from 8/- to 10/-, lightweights from 5/- to 7/6. Good ewes were worth 2d, light and aged IJd a lb. and prime wethers were equal to 3d a lb. all round. A few odd lots of hoggets were secured by butchers at an advance in value. Animals suitable for the trade sold from 10/- to 13/6. Extra light hoggets sold at prices ranging from 8/6 to 9/-. The store cattle entry was confined almost entirely to old cows which realized from £1 10/- to £3. Several steel's sold to £3 10/-. Good quality pigs were yarded and the entry met with a keen sale. Both baconers and porkers were dearer, baconers selling to £4 and porkers finding buyers at an average of about £3. DAIRY PRODUCE MARKET. Mr G. Blaxall has received the following advice from Messrs Lovell and Christmas, Ltd., West Smithfield, London, dated July 26, 1932: Butter: 105/- to 106/-. Cheese: Coloured, 55/-; white, 56/to 56/6. Markets quiet. The Bank of New Zealand is in receipt of the following advice from its London Office as at the close of business last week:— Butter: Quiet, 106/- per cwt. Cheese: Slow. White, 58/- per cwt.; coloured, 57/- per cwt. FROZEN MEAT QUOTATIONS. The Bank of New Zealand has received the following cable from its London Office:— Frozen Meat: There is a steady trade in wether mutton at rather better values. The market for ewes is easier owing to competition from other sources. The lamb market is depressed owing to heavy arrivals. There is only a poor demand for beef. Quotations are: Wethers, light, 3d to 4}d per lb; heavy, 23d to 3d. Ewes, 2d to 21d. Lambs, 2’s, 53d to s|d; B’s, 53d to 5Jd; 4’s, 53 dto 53d; seconds, 5d to 50d. Ox hinds, 3’d to 31d; fores, l|d to 2d. Cow hinds, 2.? d to 3d; fores, lid to l|d. LONDON STOCK EXCHANGE. London, July 26. Peninsula Shares 15/9; Mount Lyell 14/95; Dalgety and Company Shares £6 12/6; four per cent. Debenture Stock £B4 15/-; Goldsbrough Mort £6l 10/-. PRICE OF GOLD. London, July 26. Gold is quoted at £5 15/- an ounce. AUSTRALIAN BONDS. UPWARD MOVE IN NEW YORK. New York, July 26. Australian bonds, after a minor reaction, moved forward to-day, the 43 per cents reaching a new high level for the current year. SYDNEY STOCK EXCHANGE. LITTLE CHANGE IN PRICES. (Rec. 8.25 p.m.) Sydney, July 27. The transactions of the Stock Exchange to-day, while embracing a fairly wide variety of stocks and shares, were responsible for no marked alterations in prices. Sales:— £ s d

Commonwealth Bonds (4

THE METAL MARKET. (Rec. 7 p.m.) London, July 26, Metal quotations compared with those for July 25 are:— July 25. July 26. £sd £ s d

Bank of New South Wales 29 10 0 Colonial Sugar 47 0 0 Burns Philp 2 4 0 Bums Philp (South Sea) 1 10 6 Fairymead Sugar 14 9 Australian Gas (A) 6 8 0 Toohey’s Brewery 19 74 Tooth’s Brewery 19 6 Dunlop Perdriau 12 9 Henry Jones 1 11 7i Broken Hill Proprietry 16 9

per cents) — 1938 98 0 0 1941 97 15 0 1944 98 0 0 1947 97 15 0 1950 98 0 0 1953 96 12 6 1957 96 7 6 1961 97 3 9 Melbourne Sales. Commercial Bank of Aus tralia 15 6 Metropolitan Gas 10 17 0 Nestle’s (pref.) 1 9 7J Mt. Lyell 18 6 Herald and Weekly Times 2 10 0

Copper, standard Spot Forward 25 10 24 11 0 3 25 24 1 11 3 10J Copper, electrolytic— Spot 27 10 0 27 10 0 Forward 28 10 0 28 0 0 American 4.875 cents — ■ -V Wire bars 28 10 0 28 0 0 LeadSpot 9 12 6 9 12 6 Forward 9 16 3 9 15 6 Spelter— Spot 11 12 6 11 15 0 Forward 11 16 3 11 16 3 TinSpot 124 7 6 125 13 9 Forward 126 12 6 127 7 6 Silver (pence)— Standard 17 174 Fine 18 5-16 181