COMMERCIAL

Southland Times, Issue 22012, 11 May 1933, Page 2

COMMERCIAL

CITY STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following ’-■rices were quoted:— Banks. Australasia: b £lO. Commercial: s 14/6. E.S. and A. Bank: b 83/-. National of New Zealand: s 75/-. New Zealand: b 45/6, s 46/6. Breweries. New Zealand Breweries (Shares): b 29/6. Coal. Westport Coal: b 13/9, s 14/-. Westport Stockton (ord.): s 1/-. Kaitangata: b 20/9. Insurance. ' National: b 16/9, s 17/3. New Zealand: b 49/-. Standard: b 51/3. Loan and Agency. National Mortgage: b 32/6, s 38/6. Trustees’ Executors (Dunedin): b 47/6. ' Meat Companies. N.Z. Refrigerating (20/- paid): b 10/9; (10/- paid): b 3/9, s 4/-. Southland Frozen Meat (£1 ord.): s 44/-; (10/- paid): s 22/-; (£1 pref.): s 44/-. Mining. Mount Morgan: b 36/6. Electrolytic Zinc (ord.): b 17/-; (pref.): b 29/-. Gillespie’s Beach: s 1/6. Golden Sands: b 2/9. Waitahu: b 5/6, s 6/-. Kildare: b 2/1, s 2/4. King Solomon: s 2/-. Mount Lyell: b 20/9. Okarito: b 9/7, s 10/1. Paddys’ Point: b 5/3, s 5/9. Waihi Gold Mining: b 21/3. Freshford: b 1/3. Nokomai: b 5/—, s 5/6. Mount David: s 2/6. Shipping. Union Steam Ship Co. (pref.): b 22/-. Woollen Mills. Bruce (pref.): s 20/-. Kaiapoi (pref.): b 5/6. Mosgiel: b £8 5/-. Miscellaneous. Australian Glass: b 47/6. D.I.C. (ord.): b 10/-, s 11/-; (pref.): b 18/3. Donaghy’s Rope and Twine: b 35/-, s 40/-. Milburn Lime and Cement: b 26/6. s 28/6. New Zealand Drug: s 67/-. N.Z. Farmers’ Fertilizers: s 16/9. N.Z. Paper Mills: b 25/-, s 26/-. Wilson’s (N.Z.) Portland Cement: s 33/6. Debentures. Government Stock, 3J 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., 1940: b £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/-. Government Stock, 4 per cent., 1955: b £99 15/-. Government Bonds, 4 per cent, 1955: b £99 15/-. Dominion Fertilizer Debentures: b £99. Invercargill Fire Board Debentures, 6 per cent.: s £lOl 10/-. Sales Reported. Sales were reported q£ Southland Frozen Meat (ord.) at 44/- and New Zealand Breweries at 29/10J, NORTHERN EXCHANGES. (Per United Press Association.) Auckland, Maj’ 10. Sales on ’Change: Stock (1940) 4 per cent. £lOO 10/-; (1949) 4 per cent. £lOO 10/-; Auckland City (1965) 5J per cent. £99; National Bank of Australasia (cont.) £5 19/-; Renown (pref, new) 9d; Auckland Gas 23/6; Wellington Gas 33/-; Bycroft 37/-; Colonial Sugar £54 15/-; New Zealand Refrigerating (cont.) 3/10; Waihi 21/9, 21/11; Mt. Lyell 21/1, 22/-. Unofficial: Bell Hooper lid. Wellington, May 10. Sales on ’Change: Government Bonds 4 per cent. (1955) £lOO 7/6; New Zealand Insurance 49/9; Mt. Lyell 21/6; Gillespie’s Beach 1/SJ, all late Tuesday; Inscribed Stock 4 per cent, 1949 £lOO (2) Bank of New Zealand 46/-; Tooth’s 37/- (2); Mt. Lyell 21/11 (2), 22/- (5); Big River 1/4J; Nokomai 5/3J; Waitahu 5/94. Christchurch, May 10. Sales on ’Change: Commercial Bank of Sydney £l5 12/6; National Bank of Australasia (£5 paid cum div) £5 18/3, £5 18/6; N.Z. Refrigerating (10/paid) 4/-; Westport Coal 14/-; N.Z. Breweries 29/9; British Tobacco 34/3 (4), 34/3, 34/4, 34/5; Mt. Lyell 21/9, 21/10 (2), 22/- (3), 21/1 (2); N.Z. Farmers’ Co-op 4J per cent Stock (1940) £42 10/-; Central Shotover (6d paid) 1/IJ, 1/2,1/1 (4); Big River 1/44; Freshford 1/3 (2), 1/3J; Golconda (6d paid) 9d; Golden Point ljd (4); Golden Sands 3/-; Mahakipawa 14d (2); Waihi Grand Junction 3/10. Sales Reported: Mt. Lyell 22/IJ, 21/9J (3) 22/-, 22/3 (2); National Bank of Australasia (£5 paid) £5 19/-; Goldsbrough Mort 23/7. Dunedin, May 10. Sales on ’Change: Kawarau 6d; Waitahu 5/9 (4). Sales reported: Bank of New Zealand £2 6/-; Standard Insurance £2 12/-; Central Shotover 1/1 (7); Gillespie’s Beach 1/6 (2); Waitahu 5/9, 5/11; Freshford 1/3; Big River 1/5. THE DOMINION EXECUTIVE TRUST, LTD. STOCK AND SHAREBROKERS. Alexandra Buildings, corner Dee and Don Streets. Telgrams: “Executive,” Invercargill. WESTPORT COAL COMPANY. DIVIDEND DECLARED. (Per United Press Association.) Dunedin, May 10. The Westport Coal Company to-day declared an interim dividend of threepence per share payable on May 29. ADDINGTON STOCK SALE. RISE IN FAT SHEEP VALUES. (Per United Press Association.) Christchurch, May 10. A sharp rise in fat sheep values caused by a shortage of quality sorts was a feature of the Addington market to-day. Fat cattle barely maintained the low level established by weeks of continued oversupply while interest in store sheep slumped by the general feed shortage. Store sheep: A medium entrj’ with little interest shown. Late rates were maintained. Values were medium ewe lambs 6/- to 7/11, ordinary 4/6 to 5/9, inferior 2/9 to 4/-, medium s.m. halfbred ewes 6/9 to 7/3, ordinary 4/6 to 6/-, medium 2-tooth halfbred 10/10 to 12/-, small 2-tooth threequarter-bred to 7/6, aged and inferior 1/4 to 4/-; ordinary crossbred wethers to 6/-. Fat lambs: An entry of 2400. A very firm sale. Values were extra prime 17/10, prime 12/6 to 15/-, med-ium-weight 11/- to 13/-, light 8/- to 10/6. Fat sheep: An entry of 5300. The most buoyant sale for months. An advance on all classes. Medium and above was 1/- to 2/- for ewes and 1/6 to 2/per head for wethers. Values were: Extra prime wethers to 15/7, prime 15/- to’l7/6, prime medium-weight 13/- to. 14/6, ordinary 11/- to 12/6, light 9/- to 10/6, extra prime heavy ewes to 16/1, prime 11/6 to 13/-, prime medium-weight 8/6 to 11/-, ordinary 6/6 to 8/-, light 5/- to 6/-. Fat cattle: The entry of 370 head constituted an oversupply. Values were depressed, barely maintaining last week’s low level. Best beef sold to 18/- per lOOlbs, good prime 15/- to 17/-, heavyweight and medium 12/6 to 15/6, good heifer 13/- to 15/6, good cow 11/- to 14/-, secondary cow 9/to 11/-, rough down to 6/-. .Values were: Extra prime heavy steers to £9 2/6, prime heavy £6 to £7 10/-, prime medium-weight £5 10/- to £7, ordinary quality £3 10/- to £5, light £1 17/6 to £3, extra prime heifers to £7 7/6, prime £3 10/- to £5, medium £2 5/- to £3 5/-, light £1 7/6 to £2, extra prime cows to £6 2/6, prime £3 to £4, medium £2 to £3, light £1 2/6 to £2.

A medium entry of fat pigs met a steady demand. Values generally were above late rates. • A few porkers bought for export. Values were: Choppers 30/- to £3, baconers 35/- to 44/6, heavy 47/6 to 53/6, extra heavy to £2 19/6, average price per lb 3Jd to 4d, porkers 20/- to 25/6, heavy 27/6 to 31/6, average price per lb 3Jd to 4£d. BURNSIDE STOCK SALE. GENERALLY IMPROVED TONE. (Per United Press Association.) Dunedin, May 10. There was a general improvement in the tone of the market at the Burnside stock sales to-day, when advanced prices were realized for fat cattle, sheep and lambs. On the other hand pigs sold at a reduction of about 5/- per head. The fat cattle entry comprised 257 head of mixed quality. Several lines of good quality bullocks brought £7 10/-, while the highest price was £9 7/6. The demand was keener than last week and prices gradually showed an increase. Extra heavy bullocks averaged from £8 to £8 12/6, heavy £6 17/6 to £7 2/6, medium £5 2/6 to £5 17/6, light £3 17/6 to £4 2/6, medium heifers to £4 7/6, light to £3 7/6, medium cows £2 17/6, light £2 12/6. Fair quality was shown in the yarding of about 1800 sheep. At the start of the sale prices were on a par with those of the previous sale, but values increased as the sale advanced and towards the end the demand for ewes became keener, and they sold at an advance of about 2/- per head. Prime ewes sold from 14/- to 15/3, while prime wethers were worth to 15/3 per head.

An extra choice pen of steers was included in the store cattle penning, and realized £4 12/6 per head. The balance of the entry of mixed quality sold at late rates.

The quality of the lam yarding of 350 head was equal to the usual standard. It was a small yarding and in consequence of this prices advanced fully 1/- per head. Prime lambs sold to 15/-, medium 13/-, and light to 10/6 per head.

The pig entry consisted of 150 fats and 83 stores. The supply was in excess of requirements and there was an absence of spirited bidding. Bacon pigs were worth 4Jd and porkers about 5d per lb. DAIRY PRODUCE QUOTATIONS. Messrs H. L. Tapley and Co., Ltd., South Island agents for the AngloContinental Produce Co.. London, report having received the following cable:—Butter: 74/- to 75/-. Market steady. Cheese: White 43/- to 44/-; coloured 50/-.

The South Island Dairy Association report having received the following advice from the New Zealand Producers’ Co-op. Marketing Association: — “Both firm. New Zealand butter 74/to 75/-; Danish 94/- to 96/-; New Zealand Cheese, white 43/-, coloured 50/to 51/-.”

Mr G. Blaxall reports having received the following advice from Messrs Lovell and Christmas, Ltd., London, dated May 9, 1933:—Butter: 74/- to 75/-. Cheese: Coloured 50/- to 51/-; white 43/-. Both markets steady. LONDON WOOL SALES. Messrs Dalgety and Company, Limited, report having received the following cable advice from their head office, London, under date 9th instant:—London wool sales opened. Competition strong. Attendance large. Selection average, old season New Zealand crossbred predominating. As compared with closing rates of last series:—Greasy Merino Jd to Id higher, scoured Merino to id higher, greasy halfbred Jd to lid higher, scoured halfbred Jd to Id higher, greasy fine crossbred jd to Jd higher, greasy medium crossbred Id to Id higher, greasy coarse crossbred unchanged to |d higher, scoured crossbred Ad to 3d higher, fine slipe Id to 3d higher, other sorts slipe Ad to 3d higher. The New Zealand Loan and Mercantile Agency Co., Ltd., report having received the following cable from their London house under to-day's date:— There was a good attendance at the sales to-day, competition by Home and Continental buyers being active. Prices, compared with close of preceding series ruled higher by Jd per lb; crossbred slipe, medium greasy crossbred and coarse greasy crossbred; higher id to Id per lb scoured crossbred; higher Id per lb greasy Merino. GENERAL COMPETITION. (United Press Assn. —Telegraph Copyright.) London, May 9. At the wool sales 9337 bales were offered, including 4039 from New Zealand. About 4472 were sold. There was a poor selection of Merinos and a representative offering of crossbreds. There was a crowded attendance with excited general competition, the Home trade bidding keenly for crossbreds. Prices advanced compared with the March closing rates as follows:—Merinos greasy 7J to 10 per cent; scoureds 7J; crossbreds, fine, 7| to 10; medium 7|, coarse 5, slipes 5 to 10 per cent. Greasy crossbred, New Zealand “S.J.C.” top price 83d, average 7id; scoured halfbred, “Barrosa,” 7id to 153 d; halfbred lamb slipe, “Belfast,” lljd and Hid,

SYDNEY STOCK EXCHANGE. A BUOYANT MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) Sydney, May 10. The Stock Exchange was extremely buoyant to-day and values generally were in favour of holders. There was an active buying inquiry for the scrip of all eastern dredging concerns, and strength also characterized other metal shares as a result of further rises in base metals. Sales:—

BANK AND OTHER SHARES. (United Press Assn.—Telegraph Copyright.) London, May 9. Banks: Australasia, £8 7/6; New South Wales £23 10/- (ex div.); Union of Australia £5 17/6; National of New Zealand 58/-; Bank of New Zealand £99, shares -12/6. New Zealand Loan and Mercantile £7l 10/-; ordinary stock £25. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, May 9. The price of gold to-day is quoted at £6 3/4 per oz. LONDON FUR SALES BIGGEST IN HISTORY. (United Press Assn.-Telegraph Copyright.) • London, May 9.

The spring fur sales have opened and are probably the biggest in history owing to the Jewish boycott at Leipzig, hitherto the world’s chief fur market. It is estimated that the boycott has diverted £7,000,000 a year from Germany to England. Nazis at Leipzig declare that they will not interfere with Jewish fur traders if their business is properly conducted*

COMMONWEALTH WOOL SALES. (United Press Assn—Telegraph Copyright.) Sydney, May 10. The Commonwealth wool sales to the end of April represented a turnover of £30,060,192 compared with £27,289,447 during the first ten months of last season. The sales totalled 2,665,615 bales compared with 2,435,058 last season. The average price for greasy wool was £ll 4/2 per bale or 8.65 d per lb, compared with averages of £ll 3/5 per bale and 8.6 d per lb last season.

£ s d Bank of New South Wales 29 12 6 Commercial Bank of Sydney 15 15 0 National Bank (£5 paid) 5 19 0 Colonial Sugar 55 7 6 Mercantile Mutual Insurance 18 0 Howard Smith 8 5 Associated Newspapers 8 2 Associated Newspapers (pref.) 18 3 Australian Gas (A) 7 3 0 Berlei 1 5 6 British Tobacco 1 14 Australian Glass 2 9 0 Goldsborough Mort 1 4 0 Dunlop Perdriau 17 0 Electrolytic Zinc (pref.) 1 11 0 Morris Hedstrom 17 14 Tooth’s Brewery 1 17 4J Toohey’s Brewery 1 1 9 Carlton Brewery 1 17 0 Winchcombe Carson 1 5 3 Broken Hill Pty. 1 13 0 South Broken Hill 2 10 6 Mt. Lyell (New Zealand delivery) 1 2 4i Commonwealth Bonds (4 per cents) — 1938 104 5 0 1941 104 12 6 1944 103 2 6 1947 103 10 0 1950 103 15 0 1953 104 5 0 1955 105 0 0 1959 103 12 6 1961 104 2 6 THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) London, May • 9. Metal quotations are : as follows: — May 8 May 9 £ s d £ s d Copper, standard— Spot 32 16 10J 33 8 9 Forward 33 0 U 33 11 10J Copper, Electrolytic— Spot 36 10 0 37 0 0 Forward 36 15 0 37 10 0 American 6.75 cents 6.75 cents Wire Bars 36 5 0 37 10 0 Lead— Spot 12 1 3 12 0 9 Forward 12 8 9 12 6 3 Spelter— Spot 15 7 6 15 8 9 Forward 15 15 0 15 16 3 TinSpot 182 3 9 182 11 3 Forward 183 2 6 183 6 3 Silver (pence)— Standard 19-7-8 19 5-16 Fine 21-7-16 20 1316