COMMERCIAL

Southland Times, Issue 22011, 10 May 1933, Page 2

COMMERCIAL

CITY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial: s 14/7. E.S. and A. Bank: s 88/-. National of New Zealand: b 70/-, s 75/-. New South Wales: b £29. New Zealand: b 45/3. Union of Australia: b £7 9/-. Breweries. Dunedin Brewery Co.: b 20/3. New Zealand Breweries (Shares): s 30/3, Coal. Westport Coal: b 13/3. Kaitangata: b 20/6. Insurance. National: b 16/10, s 17/1. South British: b 64/-. Standard: b 51/-, s 53/-. Loan and Agency. Goldsbrough, Mort and Co.: b 22/6. Trustees’ Executors (Dunedin): b 47/6. Meat Companies. N.Z. Refrigerating (20/- paid): b 10/10; (10/- paid): b 3/9, s 3/11. Southland Frozen Meat (£1 ord.): b 43/-, s 44/-; (10/- ord.): b 21/6. s 22/-; (£1 pref.): b 43/-, s 44/South Otago Freezing Co.: b 70/-. Mining. Electrolytic Zinc (pref.): b 29/-. Gillespie’s Beach: s 1/6. Golden Sands: b 2/9. Waitahu: b 5/3. Kildare: b 2/-. King Solomon: s 2/-. Mount Lyell: b 20/6. Okarito: b 9/7. Paddy’s Point: b 5/2. Nokomai: b 5/2, s 5/6. Freshford: b 1/3, s 1/4j. Shipping. Huddart-Parker (pref.): b 22/-. Union Steam Ship Co. (pref.): b 22/-. Woollen Mills. Kaiapoi (pref.): b 5/6. Mosgiel: b £8 5/-. Miscellaneous. Australian Glass: b 46/6. D.I.C. (ord.): b 9/-. Dominion Fertilizer: b 10/3. Milburn Lime and Cement: b 26/6 New Zealand Drug: b 64/-, s 65/6. N.Z. Paper Mills: b 24/9, s 26/-. Otago Daily Times: s 49/-. Wilson’s (N.Z.) Portland Cement: b 32/6, s 33/6. Debentures. Government Stock, 3} per cent., 1938: b £99 10/-. Government Stock, 31 per cent., 1939: b £99 10/-. Government Stock, 4 per cent., 1940; b £lOO. Government Bonds, 4 per cent., 1940b £lOO. Government Stock, 4 per cent., 1946: b £99 15/-. Government Bonds, 4 per cent., 1946: b £99 15/-. Government Stock, 4 per cent., 1949: b £99 15/-. Government Bonds, 4 per cent., 1949. b £99 15/-. Sales Reported. Sales were reported of Freshfords at 1/3 and 1/31. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, May 9. Sales on ’Change: Bonds 1949 4 per cent, £lOO 10/-; Banks 1955, 4 per cent £lOO 7/6; Stock 1938-44, 31 per cent £99 14/- (2); Stock 1938-53 31 percent £99 15/-; Wanganui 1933, 5 per cent £99 15/-; E. S. and A. Bank £4 5/6; Bank of New Zealand 46/-; New Zealand Insurance 49/9; South British 66/-; Auckland Gas 23/3; Colonial Sugar £54 15/-; Milne-Choyce (deb.) 10/6; Sharland and Company 18/-; Wilson’s Cement 32/6, 32/3. Wellington, May 9. Sales on ’Change: Inscribed Stock 4 per cent. 1940 £100; Bank of New Zealand 45/8, 46/-; Union Bank of Australia £7 10/- (late Monday); Wellington Trust and Loan £4; South British Insurance 65/9, 66/6, (both late Monday) 66/6; New Zealand Refrigerating (10/- paid) 3/10, 3/11; Tooth’s Brewery 36/9; Colonial Sugar £54 12/6; New Zealand Drug 66/-; Mount Lyell 21/4, 21/5. Christchurch, May 9. Sales on ’Change: 4| per cent. Inscribed 1940 £lOO 5/- (2); New Zealand Refrigerating 6J per- cent. 1935 £97 (2); E.S. and A. Bank £4 5/9; Bank of New Zealand (cum. div.) 45/9 (4), 45/11 (6); South British Insurance 66/3, 66/4; British Tobacco 34/3; Mt. Lyell 20/10 (6), 21/8, 21/7; Freshford 1/3; Golden Dawn 2/3; Golden Point 1 Jd, 2d (2); Nokomai 5/1, 5/IJ. "Sales reported: 3| per cent. Inscribed 1938-52 £99 12/6; N.Z. Refrigerating (10/- paid) 3/10; Electrolytic Zinc (ord.) 17/9; Milburn Lime 26/9, 26/6; N.Z. Drug Co. 66/-. Unlisted Sale: Bell Hooper lid (G). Dunedin, May 9. Sales on ’Change: Westport Coal ■l4/-: Big River 1/4 (three), 1/44; Central Shotover (6d paid), 10Id (five), 1/1 (three). , .__ r, Sales reported:—Bank of New Zealand £2 5/6; Electrolytic Zinc (ord.) 17/9, (pref.) £1 10/-; Big River (late yesterday) 1/4; Okarito 10/-; Central Shotover 1/1 (two); Freshford 1/3J. The dominion executive TRUST, LTD. STOCK AND SHAREBROKERS. Alexandra Buildings, corner Dee and Don Streets. Telgrams: “Executive,” Invercargill. TO INVESTORS.' INVESTORS should not risk their savings in speculative share issues which promise high returns without security when there are available Debentures showing regular interest payments of 5 per cent and 6j per cent respectively with a wide guaranteed margin of safety. The subscription lists for both these investments are rapidly filling up. 9 Investors interested please write or call for full printed particulars to The Securities Corporation (N.Z.), Ltd., National Bank Chambers, The Crescent, INVERCARGILL. Telephone 2002, P.O. Box 243; and at Dunedin, Christchurch, Wellington. A. H. MACKRELL. STOCK AND SHARE BROKER. Member Invercargill Stock Exchange, Federal Buildings, Dee Street, Invercargill. LORNEVILLE stock sale. RISE IN FAT SHEEP VALUES. POOR MARKET FOR FAT CATTLE. There was a sharp rise in fat sheep values at the Lomeville stock sale yesterday, prices all round showing an average increase of 2/- a head. In the fat cattle section an opposite state prevailed, values registered being the lowest ever known at the yards. Following is a table of yarding for the past two weeks:— May 2. May 9. Store Cattle 111 62 Fat Cattle 119 - U 6 Store Sheep 737 969 Fat Sheep 804 1406

Included in yesterday’s yardings were: 271 fat lambs, 7 dairy cows and 7 vealers. Fat Sheep.—There was a good yarding of nice quality ewes and wethers. The pressure of a northern buyer, who operated freely, caused a' sharp rise in both ewes and wethers of good quality, equivalent to 2/- on the previous week’s prices. Extra prime heavy wethers realized up to 15/-; prime quality 12/- to 13/6; freezing and lightweights down to 9/6; extra good quality ewes 7/6 to 9/-; good quality 6/to 7/-; light and unfinished down to 5/-. The yarding of fat lambs was only average, but prices were quite up to schedule, best butcher s lambs bringing up to 12/9, good freezing sorts 11/3 to 12/3, light and unfinished down to 9/6. Fat Cattle.—There was a reduced entry of fat cattle, the major portion of which was of poor quality. In fact all the cattle yarded were showing signs of the effects of the recent severe weather. Prices showed a further decline on the previous week’s poor sale, and were regarded by competent judges as the lowest in the history of the yards. Extra prime heavyweight bullocks realized £5 to £5 15/-; P l }™; handy weights, £3 15/- to £4 5/-; light and unfinished, down to £2 10/-; P™™ 2 quality heavy cows, up to £3 12/b; good quality medium weights, £2 </u to £3; aged and poorer sorts, down to 25/-: prime quality medium weight heifers, up to £3 15/-; handy weights, £2 10/- to £3; lighter sorts, down to £2 Store Cattle.—There was an average yarding of mixed sorts comprised mostly of 2£ to 3-year-old bullocks, and an odd pen of empty cows. The latter realized from 10/- to 22/6, 2 and 3-year-old steers 35/- to £2 12/6, and a pen of mixed steers 28/-. There was a small entry of dairy cows, which met with a dragging sale. Old and done sorts made from 10/- to 20/- and good fresh conditioned cows from 35/- to 45/-. Store Sheep.—The small yarding was made up mostly of lambs and wethers. One pen of 2,4, 6 and 8-tooth ewes made 9/9, wethers from 7/6 to 8/3, and a pen of wether lambs 8/-. A pen of ewe lambs were passed in at 8/9. McNAB STOCK SALE. A SMALL OFFERING. There was only a small entry at the fortnightly McNab stock sale held yesterday in unpleasant weather conditions. There was a fair attendance of buyers and competition was moderately keen. There was less than a dozen pens of sheep entered and a small number of cattle, the latter failing to realize the reserves. Sales were as follows: — Southland Farmers’ Co-operative Association, Ltd.: 15 fat ewes at 5/—, 2 fat wethers at 10/-, 75 f and f.m. ewes at 2/4, 56 s.m. ewes at 4/7. Passed in: 50 2-tooth ewes at 9/6. New Zealand Loan and Mercantile Agency Co., Ltd.: Passed in: three forward steers at £3. National Mortgage and Agency Co., Ltd.: Passed in: 67 f. and f.m. ewes at 3/10. GRAIN REPORT. Messrs Donald Reid and Co. Ltd. report as under: Wheat: The price of milling wheat automatically increased one penny per bushel from the beginning of May and values now stand at 3/5 for Tuscan, 3/7 for Hunters and 3/9 for Velvet sacks extra f.o.b. main ports. Very little is now offering, threshing being completed in most districts. Fowl wheat is being offered from Canterbury and Southland at prices ranging from 2/8 to 3/- per bushel. Local ex store prices range from 3/3 to 3/9 sacks extra for fair sized quantity. Oats: Samples are a rarity, a substantial proof that farmers do not intend to accept the prices now ruling. In some cases farmers are buying grain in preference to threshing their own sheaves. Merchants are not greatly interested. Some parcels have been sold forward for delivery each month and sellers are obtaining these from Southland. Otago oats that have been on offer are mainly undergrade, light and affected with rust. Merchant values remain on a basis of 1/2J per bushel sacks extra for good heavy milling quality oats offered at stations within a 20 mile radius. Values decrease as the railage charges increase. Chaff: Good quality chaff is in demand. Offerings from the north have slackened off and buyers have now to go south for their requirements. Values to-day are firm at recent prices viz.: £3 10/- sacks extra ex truck Dunedin. £3 15/- to £4 is being obtained ex Potatoes: Digging is fairly general and very few sales of consequence are taking place. A few trucks here and there to fill orders for small parcels from the North represents all the business passing. The local demand has not yet increased to any extent and produce merchants are receiving ample consignments to meet all inquiries. £3 ex truck Dunedin is the ruling rate for F.A.Q. white tables. 5/- extra can be obtained for special lines of King Edwards. DAIRY PRODUCE MARKET. Messrs Henderson and Co., Ltd., have received the following cable dated May 9 from their London principals, Messrs Trengrouse and Nathan, Ltd.: — Cheese: White, 43/-; coloured 51/-. Firm. Messrs Dalgety and Company, Limited, have received the following cable from Messrs Samuel Page and Son, under date May 8, 1933:— Cheese: White 42/- to 43/-; coloured 50/-. Butter: 74/-. LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated May 6, from the High Commissioner for New Zealand, London: — Tallow: Fair demand, with spot quotations nominally unchanged. Hemp: Manila—Market steadier with better inquiry. “K” grade for May—July shipment quoted buyers £l4 10/-. Sisal—Market firm with hardening tendency. No. 1 afloat sold at £l5 15/-, and August—October shipment at £l5 17/6. New Zealand—Market quiet and unchanged with no first hand sales reported. Fruit: Port Gisborne consignment generally in good condition. Port Pirie consignment in slightly forward condition. Piako in good condition. Market is weaker with downward tendency increased because of panic selling of Australian apples. Pear market glutted. Cox’s Orange 10/- to 13/-; Jonathan, Delicious, Cleopatra and Dunns 10/6 to 11/6; Worcester Pearmain and Ballarat 10/- to 11/-; Adam’s Pearmain, London Pippin, Ribston Pippin and Premier, 9/- to 10/-; Lord Wolseley 8/6 to 9) Pears: Josephine, Beurre Bose, Winter Cole, Packham’s Triumph, P. Barry, Beurre Clairgeau, 8/6; Winter Cole s’s 9/6; Beurre Bose, P. Barry J’s 4/-; Winter Cole and Packham’s Triumph j’s 3/-; Beurre Bose, Winter Cole and Comice trays, 2/6. Peas: Maples—Market firmer with better demand. New Zealand No. 1 for May shipment offered 40/6 to 41/-. Fair average quality sold 36/6 to 37/6. Shippers reserved and now quoting 38/6 to 39/-. Tasmanian afloat sold 43/6. Shippers offer for May—June or June —July shipment 45/-. Blues: Market weak. Sellers Tasmanian afloat quote 15/6. New Zealand marrowfats, approximate value 16/6.

SYDNEY STOCK EXCHANGE. ALL-ROUND FIRMNESS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.10 p.m.) Sydney, May 9. On the Stock Exchange to-day the turnover was again heavy with an allround firmness due to increasing confidence in anticipation of the success of next Saturday’s Legislative Council

THE METAL MARKET. PRICES CONTINUE UPWARD. (United Press Assn—Telegraph Copyright.) (Rec. 8.10 p.m.) London, May 8. The metal market is still rising. This notable movement began with the announcement of the United States’ inflationary programme. Quotations: — May 4 May 8

TALLOW STOCKS. (United Press Assn—Telegraph Copyright.) London, May 8. Tallow stocks amount to 1800 casks. Imports total 514, and deliveries 488. PRICE OF GOLD. (United Press Assn—Telegraph Copyright.) London, May 8. The price of gold to-day is quoted at £6 3/9 per oz. BRADFORD MARKET. (United Press Assn—Telegraph Copyright.) London, May 8. The Bradford market is firm, and business is quiet, pending the London opening sales. NEW ZEALAND PEARS. (United Press Assn—Telegraph Copyright.) London, May 8. The Port Gisborne’s New Zealand pears realized the following prices: Boxes of Bose’s, 8/3 to 10/9; Winter Coles, 7/6 to 7/9; Wintemelis, 8/- to 8/9; Barry’s, 9/- to 10/-. FOREIGN EXCHANGES. (British Official Wireless). (Rec. 5.5 p.m.) Rugby, May 8. The following rates of foreign, exchange are current to-day compared with par:— Par. To-day. Paris, fr 124.21 85 11-16 New York, dol. 4.866 3.97 J Montreal, dol 4.866 4.5 Brussels, belga 35.00 14.25 J Geneva, fr. 25.22 17.51 Amsterdam, fr. 12.10 8.40 Milan, lira 93.46 64 J Berlin, f.m. 20.42 14.37£ Stockholm, kr 18.159 19.35 Copenhagen, kr 18.159 22.45 Oslo, kr 18.159 19 5-8 Vienna, sch. 34.585 31J Prague, kr. 20.02 113 3-8 Helsingfors, mark 124.23 226 J Madrid, kr. 15.225 39 7-16 Lisbon, escu 4J 110 Athens, dr. 375.00 585 Bucharest, lei 25.225 565 Belgrade, kr. 247 J Rio de Janiero, mil. 5.898 45} nom. Buenos Aires, dol. 47.57 d 42 J Montevideo, dol. 45.57 d 34J nom Bombay, rupee —— 18 5-64 Shanghai, tael 15 1-16 Hong Kong 16 5-8 Yokohama, p. to yen 24.582 14 5-8

referendum. Sales: — £ s. d. Bank of New South Wales 29 15 0 Commercial Bank of Sydney 15 15 0 Colonial Sugar 55 10 0 Adelaide Steam 1 1 6 Associated Newspapers 8 2 Associated Newspapers (pref.) 18 3 British Tobacco 1 14 9 Goldsbrough Mort 1 3 9 Dunlop Perdriau 16 10$ Henry Jones 1 17 9 Electrolytic Zinc 18 0 Electrolytic Zinc (pref.) 1 11 0 Tooth’s Brewery 1 17 Toohey’s Brewery 1 1 Mt. Lyell 1 2 4$ Broken Hill Pty 1 13 3 South Broken Hill 2 10 0 Melbourne Sales. Metropolitan Gas 12 11 0 Goldsbrough Mort 1 3 8 Electrolytic Zinc (pref.) 1 11 0 North Broken Hill 3 17 0 Mt. Lyell 1 2 3

£ s d £ s d Copper, standardSpot 32 6 3 32 16 10J Forward 32 8 9 33 0 74 Copper, Electrolytic— Spot 35 15 0 36 10 0 Forward 36 15 0 36 15 0 American 6.50 cents 6.75 cents Wire Bars 36 5 0 36 5 0 Lead— Spot 11 7 6 12 1 3 Forward 11 13 9 12 8 9 Spelter— Spot 14 18 9 15 7 6 Forward 15 15 0 TinSpot 177 7 6 182 3 9 Forward 177 18 9 183 2 6 Silver (pence)— Standard 19 3-8 19 7-8 Fine 20 7-8 21 7-16