COMMERCIAL

Southland Times, Issue 21831, 7 October 1932, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS. GRAIN AND PRODUCE. Times Office Friday Morning. Oats.—Since the departure of the s.s. Waipahi there has not been much doing in grade oats, but it is anticipated that further sales will be made before her next sailing. Undergrades have been selling well, and these, together with fairly extensive sales for the local seed trade, have had the effect of considerably depleting stocks. The f.o.b.s.i. price runs out at 3/7 per bushel for A grades and 3/4 for B’s with occasional sales at Id per bushel less. Prices to farmers are 2/8 per bushel for A’s, 2/6 for B’s and 2/3 for undergrades. ' Wheat.—-Offerings have practically ceased, but any milling lines are readily saleable at the fixed price. Good, whole fowl ..'heat, is worth 4/1 per bushel, on trucks, country stations. Chaff—Supplies are sufficient to meet the limited local demand and there are no offerings for shipment. The price to farmers for good, light quality is £3 per ton on trucks country stations. Anything of an inferior nature is not readily saleable. Ryegrass—Stocks held are very light and in most cases merchants are holding only sufficient for their own retail trade. There are no offerings from farmers. One or two merchants, who hold surplus stocks, are making steady sales and it looks as if the new season’s crop will meet a clear market. Potatoes—lnterest from the merchants’ viewpoint has practically lapsed as it is doubtful if any great quantity will be despatched north from now on On the other hand local supplies must be nearly depleted as extensive shipments have been made this season. It will be found that all that is now available will be absorbed before the end of the season, and there may be a serious shortage before the new seasons crop is available. The price to farmers is nominally £4 10/- per ton, for good table quality. Fruit and Vegetables. Consequent upon the prolonged spell of fine weather in Southland, the demand for all classes of seasonal fruit has exceeded expectations, and the main difficulty of merchants has been to keep their marts sufficiently supplied. Business on the whole has been very good for this time of the year, and provided the present conditions continue, all records in the fruit and vegetable business for the south are likely to go by the board. Although the demand has been extra good prices have kept reasonably well and growers should be well satisfied witl results. Apples are now in short compass. There are none coming forward and stocks are very low. Cookers are at a premium. Good consignments of bananas arrivc’. few days a"~ and meeting a bare market, sold well at moderate rates. The fruit was in excellent condition. The Waikouaiti brought fair parcels of oranges, mandarines, pineapples and passion fruit from Australia, and these helped to keep local marts going. There has been a good demand for all lots and fair prices have been realized. A novelty line was a small lot of banana passions. This fruit is on trial. It does not carry too well but arrived in fairly good condition. Regular supplies of hothouse tomatoes from Christchurch are now coming to hand and prices have eased considerably. Next week there will be good supplies available for auction. The sample to hand is a good one and has been keenly sought after. There are only odd lots of Australian lemons available. They have been replaced by the New Zealand grown article, which has improved with every season, and is now able to compete with the imported fruit. The latest lot to arrive were in choice condition and sold well. Californian (Red Emperor) grapes are available. There is a fair demand. The vegetable market continues good. Cabbages are scarce and very few cauliflowers are available, but all other classes of seasonal vegetables are in stock and selling well at average prices. Lettuces are now coming forward in large quantities, but only the better class of vegetables is meriting attention. Current prices obtained at auction are approximately as follows:— Oranges-Navels, 12/- to 17/- per case; others, 9/- to 13/-; seed oranges, 10/to 14/-; lemons, Australian, 22/-; New Zealand, 15/- to 17/6; bananas, 17/6 to 21/-; grapes, 36/- per keg; apples, Sturmers, 7/- to 8/6; delicious, 9/- to 10/-; others, 4/6; cookers, unobtainable; mandarines. 9/6 to 12/6; tomatoes (Christchurch hothouse), down to 2/and 1/6 per lb; cauliflowers, 4/6 to 7/-; lettuce, 2/6; spring onions, 9d to 1/6; rhubarb, IJd to 2Jd; beetroot, Id per lb.; parsnips and carrots, 3/6 per Sugar bag. CURRENT PRICES. Wholesale. Eggs, 9d. Bacon, IOJd. Bran, £s’ls/-. Butter, factory, 1/1; separator, Bd. Bran, £5 15/-. Flour, £l4 12/- to £l6 7/-. Oatmeal, £26 to £3O. Retail. Eggs, lid. Bacon, 1/-. Pollard, 9/6 per 1001 b. Butter, factory 1/3. Bran, 7/- per 1001 b. Flour, 25’s 5/-; 50’s 9/6; 100’s 18/6; 200’s 34/6. Oatmeal, 25’s 7/6; 50’s 14/6. Onions, 6d lb. Distributors, Ltd. * Distributors, Ltd., Invercargill, advise the following prices:— Bran. —150’s and 200’s £5 10/- per ton; 100’s £5 15/-. Pollard.—lso’s and 200’s £7 10/- per ton; 100’s £7 15/-. Wheat Meal.—2s’s £l5 7/- per ton. WINTON STOCK SALE. YESTERDAY’S YARDING. (From Our Correspondent). The fortnightly stock sale at Winton was held yesterday under wet conditions. Twelve hundred sheep were yarded, all being hoggets with the exception of three pens of ewes and lambs. There were a few pens of good conditioned ewe hoggets and these met with good competition, the top price being 13/4 for two good pens of Romneys. Other lots of ews‘hoggets sold from 10/6 to 12/3, with lighter conditioned sorts from 5/6 to 8/6. The best price for wether hog.gets was 8/6, with medium sorts from 6/- to 7/5 and culls from 3/6 to 4/6. Ewes and lambs sold at from 4/5 to 5/3 (all counted). In the cattle section there was a full yarding, mostly of dairy cows and mixed cattle. There was nothing of exceptional quality offered and prices throughout were not quite up to recent rates. Competition was not at all keen. The top price for dairy cows was £8 10/-. Medium sorts sold from £5 10/- to £7 12/6 with inferior from £2 10/- to £3 10/-.

CITY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday morning’s call-over on the City Stock Exchange the following prices were quoted:— Banks. Commercial: b 14/6, s 14/11. E.S. and A.: b 93/-, s 95/-. National of Australasia (cont.): b £5 10/National of New Zealand: s 81/-. New South Wales: b £27 10/-. New Zealand: s 46/6; long “D” issue: b 28/6. Union of Australia: b £7 16/-. Breweries. Dunedin Brewery Company: b 20/6. New Zealand Breweries (shares): b 27/9, s 28/9; (stock): b 20/-. Coal. Westport: b 12/-, s 13/-. Westport Stockton (ord.): b 6d. Kaitangata: b par. Insurance. National Insurance: b 14/10, s 15/2. New Zealand: b 42/6. South British: b 58/-. Loan and Agency. Dalgety and Company: b £8 10/-. Goldsbrough, Mort and Company: b 24/-, s 25/-. Perpetual Trustees (Dunedin): b 58/Wright, Stephenson and Company lord.): b 11/-; (pref.): b 13/-. Meat Companies. Gear . leat Company: s 35/6. New Zealand Refrigerating (20/paid): b 10/6; (10/- paid): b 3/7, . s 3/9. Southland Frozen Meat (£1 ord.): b 39/6; (10/- ord.): b 19/6; (£1 pref.): b 39/-. Mining. Electrolytic Zinc (ord.): b 16/3, s 16/8; (pref.): b 26?-. Gillespie’s Beach: b 2j>d prem. Golden Sands: b 1/6. Waitahu: b 6d. dis. Kildare: b 1/5, s 1/7. King Solomon: b 1/9J, s 2/Mount Lyell: b 21/3, s 21/9. Mahakipawa: b 4d, s sd. Okarito: b 8/6, s 8/7. Paddy’s Point: s 5/1. Waihi: b 16/9, s 17/2. Waihi Grand Junction: b 3/2. Mount David: s 5/6. Shipping. Huddart-Parker: b 28/-. P. and O. S.N. Company (def. stock): b 20/-. Union Steam Ship Company (pref.); b 20/3. Woollen Mills. Mosgiel: b £6 12/-. Miscellaneous British Tobacco (Aust.): b 30/3, s 31/3. D.I.C. (ord.): s 12/-. Dominion Rubber Company: b 6/-. Donaghy’s Rope and Twine: b 30/-. Milbum Lime and Cement: b 26/-, s 27/9. New Zealand Drug: b 58/-. New Zealand Express Company: s 10/6. New Zealand Paper Mills: b 21/-. Wilson’s (N.Z.) Portland Cement; b 32/6. Woolworth’s (pref.): s 27/6. Debentures. Government Inscribed Stock, 4J per cent, 1938: b £95, s £95 5/-. __ Government Bonds, 4| per cent., 1938: b £95. Government Inscribed Stock, 4J per cent., 1939: b £95. Government Bonds, 4J per cent., 1939: b £95. Government Inscribed Stock, 5{- per cent., 1941: s £96. Government Bonds, 5/ per cent, 1936: b £99. Government Inscribed Stock, 5J per cent. (Feb.), 1937; b £99 2/6. Government Bonds, 5J per cent (Feb.), 1937: b £99 10/-. Government Inscribed Stock, 5J per cent. (Sept.), 1937: b £99 2/6. Government Bonds, 5| per cent. (Sept.), 1937: b £99 10/-. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, October 6. Sales on ’Change: (1941) 4A per cent. £94 10/-; Mt. Roskill Road Board (I 960 5f per cent. £9B; N.Z. Breweries debentures 20/6; Commercial Bank 14/8; Bank of New South Wales £2B 5/-; Auckland Gas 21/6 (3); British Tobacco 31/3; Colonial Sugar £4B 5/-; Farmers’ Fertilizer 16/9; N.Z. Refrigerating (10/- paid) 3/9; Wilson’s cement 33/6; Blackwater 18/-; Waihi 17/3; Mt Lyell 21/3; Kaitangata Coal (16/- paid), 16/-. Christchurch, October 6. Sales on ’Change: 5£ per cent. Bonds (September 1937) £99 12/6; Commercial Bank of Sydney £l5; Dalgety and Co. £8 14/-; N.Z. Refrigerating (10/paid) 3/8; British Tobacco 31/3 (2); Dunlop rubber 14/6; Electro Zinc (ord.) 16/3; Mt. Lyell 21/4; Golden Dawn 4/10; Mahakipawa 4d. Sales reported: 4| per cent, bonds (1939) £95 5/-; 51 per cent. Inscribed (1933 £99; Bank of New Zealand 46/— (3); Mt. Lyell 3/4; Wilson’s Cement 33/6; N.Z. Breweries 28/6. Dunedin, October 6. Sales on ’Change: Okarito 8/6 (two); Standard Insurance 50/-; 5J per cent. Stock (Feb.) 1937 £99 7/6. Sales reported: Bank of Australasia £9 18/-; Kaitangata Coal par; Gillespie’s Beach 2JcL prem (two); 5J per cent Stock (Feb.) 1937 £99 7/6 (two); 4J per cent. Stock, 1938 (after last call) £95. EASTERN DISTRICT FAT STOCK. PRICES AT BURNSIDE MARKET. Eastern District vendors of district fat stock at the Bumside market on. Wednesday secured the following prices:— Cattle: A. Christie and Sons (Waikaia), bullocks £9 17/6, £8 17/6, £8 12/6 and £8 7/6. W. Dawson (Fortrose), bullocks £9 2/6, £8 17/6, £8 7/6 and £8 2/6. E. W. Aitken (Gore), bullocks £8 12/6 and £7 10/-. T. M. Mitchell (Mataura), bullocks £5 12/6 and £5 2/6. D. C. Livingstone (Titiroa) bullocks £8 2/6, £7 7/6, £7 2/6 and £6 17/6. Thomas Harper (Pukerau), bullocks £9 17/6 and £8 17/6. J. R. Prendergast (Mataura), bullocks £8 2/6, £7 17/6, £6 17/6 mid £6 2/6. A. T. Ottrey (Heriot) bullocks £7 2/6 and £6 7/6. W. Erickson (Fortrose) bullocks £6 17/6. Sheep: John Black (Kelso), ewes 12/9, 11/6 and 10/9. W. Cooper (Merino Downs), wethers 14/-. 13/6, 12/9 and 12/-, ewes 11/6, 11/1 and 10/3. A. S. Herbert (Kelso), ewes 11/6 and 9/9. F. C. Taylor (Crookston), shorn wethers, 11/-, 10/3, 9/9, 9/6, ewes 10/3. W. Mortimer (Waipounamu), wethers 19/9, 19/3, 18/3 and 17/9. J. E. Watson and Co. (Gore). as agents, wethers 18/9, 18/3, 17/-, ewes 12/9, 11/- 13/3 and 10/9. P. Sim (Crookston), wethers 18/3, 17/6, 15/3 and 14/-. D. Stark (’Koi), ewes 12/9 and 11/6. P. F. Smith (Heriot), ewes 12/6 and 10/9. M. Robertson (Tapanui), ewes 12/3, 11/6 and 11/9. W. C. Cunningham (Waikaka), ewes 12/6, 12/3, 11/- and wethers 14/3. J. R. Hargreaves (Heriot), wethers 15/9; ewes

12/9, and 12/-, hoggets 15/3. Potter Bros (Pukerau), ewes 13/-, 11/-, and 9/9. S. B. Edwards (Pukerau), ewes ,10/9, and 10/6, wethers 14/6. I. D. Revie (Crookston), ewes 12/9 and 12/6, wethers 14/6. Milligan Bros. (Crookston), wethers 13/3 and 12/6. J. F. Harris (Moa-Flat), ewes 9/6 and 9/-, wethers 12/9 and 10/3. Robertson Bros. (Kelso), wethers 15/9 and 13/9. R. Thompson (Waikaia), ewes 13/- and 12/6. A. Crump (Kelso), wethers 14/6, 13/6, 13/3 and 12/-, ewes 12/3 and 10/3, hoggets 12/3 and 8/-. A. Body (Kelso), ewes 13/3 and 12/3, wethers 17/6. W. Mortimer (Waipoiinamu), wethers 19/3 and 18/6. . DAIRY PRODUCE. The South Island Dairy Association of New Zealand Limited report having received the following market report from the New Zealand Produce Association Limited, London: Butter: Quiet, 108/- to 115/-; Danish 119/-, Cheese: Quiet. White 65/- to 66/-; coloured 60/- to 61/-. Messrs Henderson and Co., Ltd., report having received the following cable dated 6th inst. from their London principals, Messrs Trengrouse and Nathan, Ltd.:—Butter—Finest nominally 115/-; first 107/- to 108/-. Quiet. Cheese—white 66/- to 67/-, coloured 60/- to 61/-. Firm. The New Zealand Loan and Mercantile Agency Company report that they have just received the following cable from their London office: Butter— Finest 114/-; firsts 108/-. Slow. Cheese —White 66/-; coloured 60/-, 61/-. Steady. LONDON WOOL SALES. ACTIVE COMPETITION. London, October 5. At the wool sales 8906 bales were offered, including 6768 from New Zealand and about 6883 were sold. There was active well-distributed competition with few withdrawals. Crossbreds were firm, while greasy Merinos dropped 5 per cent.' compared with opening prices. New Zealand crossbred “Femside” top price 9Jd, average 7Jd; scoured “Glenlyon” 19|d and 17Jd. SYDNEY WOOL SALES. PRICES STILL RISING. (Rec. .9.10 p.m.) Sydney, October 6. : At the wool sales 12,978 bales were offered and 12,217 sold, 1269 being disposed of privately. Prices ruled at the best point of the week. Continental and Japanese competition was pronounced with a better inquiry on French account Greasy eMrino made to 19d. TALLOW SALES. London, October 5. At the tallow sales 431 casks were offered and 319 were sold at 6d advance. Mutton, fine 25/9, medium 22/-; beef, fine 28/6, medium 22/-. PRICE OF GOLD. London, October 5. Gold is quoted at £5 19/4 per ounce. SYDNEY STOCK EXCHANGE. INCREASED TURNOVER. (Rec. 9.10 p.m.) Sydney, October 6. On the Stock Exchange to-day the turnover showed a marked improvement, all sections having buying support. Sales:

London, October 5.

THE METAL MARKET. (Rec. 7.30. p..m) London, October 5. Quotations compared with those for October 4 are:—

FOREIGN EXCHANGES. (British Official Wireless). (Rec. 5.5 p.m.) Rugby, October 5. The following rates of foreign exchange are current to-day compared with par:—

Bank of New South Wales £ 32 s 2 d 6 Commercial Bank of Sydney 17 5 0 Colonial Sugar 54 10 0 United Insurance 7 15 0 Millaquin Sugar 1 8 0 Australian Gas (a) 6 17 0 Tooth’s Brewery Toohey’s Brewery 1 16 71 1 2 9 Carlton Brewery 1 15 3 Australian Glass 2 5 o Dunlop Perdriau (New Zealand delivery) 15 9 British Tobacco 1 18 9 Goldsbrough Mort 1 7 9 Mt. Lyell 1 4 0 Zinc Corporation 1 18 V Broken Hill Pty. 1 2 U North Broken Hill 3 15 0 South Broken Hill 2 11 0 Commonwealth Bonds (4 per cents. )- 1938 101 11 3 1941 101 15 0 1944 102 3 9 1947 100 15 0 1950 100 16 0 1953 101 5 0 1955 101 7 6 1957 101 15 0 1959 102 6 3 1961 100 13 9 Melbourne Sales. Goldsbrough Mort 1 7 7J Dunlop Perdriau 16 8 Dunlop Perdriau (pref.) 1 12 3 Myers 1 7 0 E.S. and A. Bank 5 7 0

Oct. 4. Oct. 5. £ s d £ s d Copper, standard Spot 33 6 3 33 13 14 Forward 33 7 6 33 14 44 Copper, electrolytic— Spot 37 10 0 37 15 0 Forward 38 0 0 38 0 0 American - — 6 cents. Wire bars 38 0 0 38 0 0 Lead— Spot 12 8 9 12 13 9 Forward 12 13 9 12 17 6 Spelter— Spot 15 1 3 15 5 0 Forward 15 5 0 15 8 9 TinSpot 151 7 6 151 7 6 Forward 152 12 6 152 13 9 Silver (pence)— Standard 17 11-16 17 7-8 Fine 19 1-16 19-15-16

To-day Par. Paris, fr. 88 1-8 124.21 New York, dol. 3.45 3-8 4.866 Montreal, dol. 3.79J 4.866 Brussels, helga 24.881 35.00 Geneva, fr. 17.901 25.22 Amsterdam, fr. 8.591 25.22 Milan, lira 67 5-16 93.46 Berlin, r.mi. 14.521 18.159 Stockholm, kr 19.471 18.159 Copenhagen, kr 19.27 i 18.159 Oslp,„kr. ' 19.85 18.159 Vienna,. sc 291 nom. 34.585 Prague, kr. , 1161 24.02 Helsingfors, mark 2321 124J23 Madrid, kr 42J 25.225 Lisbon, escu 110 41 Athens, dr. 5.80 275.000 Bucharest, lei 580 25.225 Belgrade, dinars 235 1 252.215 Rio de Janeiro, mil: 51 nom. 5.898d Buenos Aires, dol Nominal 47.57d Montevideo, dol. 30 nom. 47.57d Bombay, rupee 18 5-32d 18d Shanghai, tael 211 - . Hong Kong, dol. 16 l-8d Yokohama, yen 16Jd 24.58d.