COMMERCIAL

Southland Times, Issue 21894, 21 December 1932, Page 3

COMMERCIAL

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial, pref. 4 per cent (cum.): b £6 15/-. National of Australasia (cont.): b £4 15/-. National of New Zealand: s 68/-. New South Wales: s £27. New Zealand: b 40/-; s 41/3. Breweries. Dunedin Brewery Co.: s 23/6. New Zealand Breweries (Shares): s 25/-; (Stock): b 20/-. Coal. Westport Coal: s 12/-. Kaitangata: b par. Insurance. National: s 14/2. Standard: s 49/-. Trustees’ Executors (Dunedin): b 57/-. Meat Companies. N.Z. Refrigerating (20/- paid): b 9/-; s 10/-; (10/- paid): s 3/3. Mining. Gillespie’s Beach: b 2Jd; s 3Jd Golden Sands: s 2/3. Waitahu: b 6d. prem. Kildare: b 1/8; s 1/10. King Solomon: b 2/6; s 2/7. Mount Lyell: s 20/-. Mahakipawa: b 2d Okarito: b 8/1; s 8/2. Paddy’s Point: b 5/-; s 5/6. Waihi Gold Mining: b 18/X Mount David: s 3/9. Nokomai: b 5/10; s 6/3. Shipping. P. and O. S.N. Co. (def. stock): s 20/-. Union Steam Ship Co. (pref.): b 20/3 Woollen Mills. Bruce: s 10/-. Mpsgiel: b £6 14/-. D.I.C. (ord.): b 9/3; (pref.): b 17/6; s 19/-. Donaghy’s Rope and Twine: b 30/-. Milbum Lime and Cement: b 27/-. New Zealand Drug: b 58/Wilson’s (N.Z.) Portland Cement: b 28/-; s 29/3. Debentures. Government 4J per cent. Inscribed. 1938: b £93. Government 4J per cent. Bonds, 1938: b £93. Government 4| per cent. Inscribed, 1939: b £93. Government 4J per cent. Bonds. .1939: b £93. Government 5| per cent. Inscribed, 1936: b £9B. Government 5| per cent. Bonds, 1936: b £9B. Government 5J per cent. Inscribed (Feb.), 1937: b £9B 15/Government 5| per cent. Bonds (Feb). 1937: b £9B 15/-. Government 5) per cent. Inscribed . (Sept.), 1937: b £9B 15/-. Government 51 per cent. Bonds (Sept.), 1937: b £9B 15/-. Sales Reported. The following sales were reported: 1938 41 per cent. Stock at £93. King Solomons at 2/51. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, December 20. Sales on ’Change: Banks, 1937, 5j per cent. February, £99; Auckland Harbour Board (1945) 5J per cent. £100; Commercial Bank 13/6; Bank of New South Wales £26; Union Bank £7; New Zealand Insurance 41/-; Woolworths’ (pref.) 28/6; Waihi Grand Junction 3/3; Mount Lyell 18/4. Wellington, December 20. Sales reported: Inscribed Stock, 4i per cent. (1938) £93, late Monday; Government Bonds 5J per cent. February, 1937) £99 5/-; Bonds 5| per cent. (September, 1937) £99 5/- (2). Christchurch, December 20. Sales on ’Change: Goldsbrough Mort 21/1; New Zealand Refrigerating (10/— paid) 3/2 (3), 3/1; Big River 1/2 (2); King Solomon (cum. div.) 2/4 (2). Sales reported: Commercial Bank of Australia 13/6; Union Bank of Australia £7, £7 1/6. Dunedin, December 20. Sales on ’Change: Alexander (cum. div.) 18/6; Nokomai 5/10. Sales reported: National Bank 6/(2); King Solomon 2/4; Golden Sands (late Monday) 2/3; 5| per cent. Stock (Feb., 1937) £99. The dominion executive TRUST, LTD. FINANCIAL ADVISERS. INVESTMENT CONSULTANTS. SECURITY BUILDINGS. Stuart Street, Dunedin. Telegrams “Executive,” Dunedin. 0r778 Invercargill Address: P.O. Box 109. IF YOUR SALARY FAILED. . . . would you still have a certain measure of financial independence? Would you still have an income on which you could depend? If you rely solely on personal earnings and wish to add a “second string” to your financial bow, write for our Free , brochure “Financial Independence” and learn how small regular savings can earn for you an income on thoroughly sound investment. A telephone call to 243 will secure a copy immediately. THE SECURITIES CORPORATION (N.Z.), LTD., Investment Counsel and Brokers, National Bank Chambers, Invercargill. Also at Dunedin, Christchurch and Wellington. A. H. MACKRELL. OTOCK AND SHARE BROKER. kJ Member Invercargill Stock Exchange, Federal Buildings, Dee Street, Invercargill. LORNEVILLE MARKET. LARGE YARDINGS FOR DOUBLE SALE. FAT SHEEP AND LAMB PRICES IMPROVE With there being no sale last week on account of the Summer Show there were large entries forward for yesterday’s market at Lomeville. Notwithstanding the fact it was a double sale in view of the Christmas holidays, the entry of fat sheep was insufficient to meet requirements, with the result that prices showed an advance of 1/6 on those of a fortnight ago. The sale of fat lambs was probably the best so far recorded this season, more especially for medium weights. The few store sheep yarded sold at late market rates. Store cattle were forward in larve quantities and a very dull sale resulted. The fat cattle sale opened quite promisingly, but by the time the last races were disposed of values showed a decline. Following is a comparative table of yardings for the last two sales:—

STORE CATTLE: There was a big yarding and'a very dull sale. Good empty cows realized from £1 to £1 15/-; old and done sorts 5/- to 15/-;

two-year-old steers £1 to £1 10/-; good yearling heifers £1 15/- to £2 7/-;; good two-year-old empty heifers £2 to £2 15/-. In the dairy cattle section there was a medium yarding and prices were about on a car with last sale. Good second calvers sold from £4 10/- to £6; good third and fourthyear £3 10/- to £4 7/6; old and done sorts 15/- to £2. FAT CATTLE: There was a full yard ing of medium quality cattle. The sale opened quite on a par with the previous sale, improved during the middle portion and declined again towards the end. Prime quality medium weight bullocks realized up to £7 15/-, medium weight good quality £6 to £7, light weights from £5 to £5 15/-, prime heavy heifers up to £5 12/6, medium weights £4 to £4 15/-, prime heavy cows from £4 to £4 10/-, medium weights £3 to £3 10/- and inferior down to £2. STORE SHEEP: There were only one or two pens of ewes and iambs yarded, and these sold at late market rates. FAT SHEEP: In the fat lamb section there was a large yarding and, taken all over, the lambs were of exceptionally good quality. There was quite a good demand and prices were probably the best of the season, this being more so in the case of medium weight lambs. Extra prime heavy lambs sold from 16/- to 17/-; prime heavy 14/- to 15/-; medium weights 12/- to 13/6; light and unfinished down to 9/-. The number of fat sheep yarded was smaller than was anticipated for the double market, with the result that prices showed an improvement of about 1/6. Prime ' quality medium weight wethers sold up to 11/-; lighter 9/3 to 10/-; and good quality ewes from 6/- to 7/6. MR JOHN HALE, NEW PLYMOUTH, owner of the famous “HOLLY OAK’’ JERSEYS, is a constant user of SYKES’S DRENCH at calving. His advice to all farmers who strive to make a success of dairying is to always have SYKES’S REMEDIES in their shed for emergencies. BETTER HEALTH for your DAIRY HERD is assured by systematically drenching each cow after calving with Sykes's Drench. Sold everywhere at 1/6 packet or 17/dozen.—Advt. McNAB STOCK SALE. CATTLE MARKET SLACK. The fortnightly stock sale was held at McNab yesterday in fine weather. The sheep entry was a small one, being confined to a couple of pens of fats and a line of ewes and lambs. Butchers were chiefly interested in the sale and very few farmers were present. A pen of fat lambs realized 11/6 and a pen of fat ewes sold at 4/6. Fat cattle were in over-supply and as a result prices showed a marked decline on recent rates, prime heavy steers selling at from £5 15/- to £6, and medium weights at £4 15/-. Sales were:— Southland Farmers’ Co-operative Association Ltd: 12 fat lambs at 11/6; 14 fat ewes at 5/6; 47 ewes and 49 lambs at 5/8; 2 forward steers at £2 15/-; 2 fat steers at £4 15/-; 2 forward steers at £3; fat steer at £6; 4 do at £5 15/-; 6 empty heifers at £2 2/-. N.Z. Loan and Mercantile Agency Co., Ltd: Fat steer at £5 17/6; fat cow at £5. J. E. Watson and Co., Ltd: Fat steer at £5 15/-; empty cow passed at £2 7/6. DAIRY PRODUCE. Messrs Henderson and Co. Ltd. have received the following cable dated 20th inst., from their London principals Messrs Trengrouse and Nathan Ltd. Cheese—white 51/-, 52/-; coloured 54/-. Market firm. FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, December 19. The following rates of foreign exchanges were quoted to-day compared with par:—

GRAIN REPORT. Messrs Donald Reid and Co. Ltd., Dunedin report as under: Wheat: The recent rains will do a tremendous lot of good to the growing crops and a record harvest is anticipated. The prices of wheat for the incoming season have not yet been fixed. It is anticipated that the wheat marketing agency will announce the rates at an early date. In the meantime the millers are merely marking time. Fowl wheat is slow of sale at prices in accordance with the quality submitted. 4/6 per bushel sacks extra ex store is an average price for fair quality. Oats: A further slump in prices during the week did not lead to any business passing in this centre. Southern merchants are making efforts to clear their stocks and have been offering A grade gartons at 2/6 f.o.b. sacks in and 2/1 for B grade. Undergrades are unsaleable, and grade oats have been quite neglected ever since the Australian oatmeal arrived on the New Zealand markets. Prices to farmers are purely nominal. 2/- for A grade and 1/8 for B grade would be utmost value. Potatoes: No old potatoes are now offering. The most recent trucks arriving were sold at £3 10/- per ton ex truck. £4 is the value for freshly picked lines ex store but the enquiry is practically nil.

Chaff: There is no demand at present. Feeders will be turning their

horses out until after the holidays and very few sales are taking place. £4 5/- ex truck is top price for good bright quality or £4 1/- to £4 15/- ex store sacks extra for the same grade. THE METAL MARKET. (Rec. 8.35 p.m.) London, December 19. Metal quotations compared with those for December 15 are:—

PRICE OF GOLD. London, December 19. The price of gold to-day is quoted at £6 5/l| per ounce. CHICAGO WHEAT. New York, December 19. Chicago Wheat: December 44J; May 46J; July 46j cents per bushel. SYDNEY STOCK EXCHANGE. COMMONWEALTH BONDS RECOVER. (Rec. 9.15 p.m.) Sydney, December 20. On the Stock Exchange to-day Commonwealth Bonds recovered two to six points and banks displayed a little more activity, but ordinary business was slack. Sales:—

Dec. 20. Dec. 6. Store cattle 130 131 Fat cattle 140 240 Store sheep 100 151 Fat sheep 1209 1420

Par. To-day. Paris, fr to £ 124.21 84 15-16 New York, do! to £ 4.86 2-3 31? Montreal, dol to £ 4 86 2-3 3.80} Brussels, belgas to £ 35 23.95} Geneva, kr to £ 25.22} 17.22} Amsterdam, guilder to £ 12.107 8.26 Milan, lire to £ 92.46 64? Berlin, marks to £ 20.43 13.92} Stockholm, kr to £ 18.150 18.32} Copenhagen, kr to £ 18.150 19.30 Oslo, kr to £ 18.150 19.40 Vienna, schl to £ 34.58| 28 nom. Prague, kr to £ 164} 112 Helsingfors, mrk to £ 193.23 228 Madrid, pesetas to £ 25.23} 40 5-8 Lisbon, escudas to £ 110 109} Athens, drachma to £ 375 625 Bucharest, lei to £ 831.6 560 Belgrade 276.3 247} Rio de Janeiro, pence to Milreis 5.890 5g nom. Buenos Aires, pence to pesos 47.82 nominal. Montevideo, pence to pesos 51 30 nom. Bombay, pence to rupee — 18 11-64 Shanghai, pence to tael — 20 5-16 Hong Kong, pence to dol. 24.58 15 9-16 Yokohama, pence to yen 24.582 15 5-16 Batavia, florins to £ 18 —. Warsaw, zlotys to £ — — ■

Dec. 15 £ s d Dec. £ s 19. d Copper, standardSpot 27 16 3 29 1 104 Forward 28 3 14 29 9 44 Copper, electrolytic-— Spot 33 0 0 34 5 0 Forward 33 10 0 34 15 0 American Wire Bars 33 10 0 34 15 0 Lead— Spot 11 0 0 11 7 6 Forward 11 7 6 11 16 3 Spelter— Spot 15 7 6 15 11 3 Forward 15 7 6 15 2 6 TinSpot 149 3 9 149 10 0 Forward 150 8 9 150 16 3 Silver (pence)— Standard 17 1-16 17 Fine 18 7-16 18 5-16

£ s d Bank of New South Wales 29 19 0 Commercial Bank of Sydney 15 10 0 Union Bank 8 15 0 Colonial Sugar 52 0 0 Howard Smith 8 9 Tooth’s Brewery 1 14 6 Toohey’s Brewery 1 0 6 Henry Jones 1 17 0 Dunlop Perdriau 16 4J Dunlop Perdriau (pref.) 1 12 6 Morris Hedstrom 18 6 Commonwealth Bonds (4 per cents)1938 101 12 6 1941 101 0 0 1944 101 2 6 1947 101 3 9 1950 101 12 6 1953 102 5 0 1955 100 15 0 1957 101 0 0 1959 101 15 0 1961 102 0 ‘0 Melbourne Sales. Metropolitan Gas 12 0 0 Goldsbrough Mort 1 4 4 Herald and Times 2 17 3