COMMERCIAL

Southland Times, Issue 22107, 30 August 1933, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial: s 16/3. National of Australasia (cont.) b £6 SA. ’• National of New Zealand: s 82/-. New.. Zealand: b 47/6; s 48/6. Union of Australia: s £9 7/-. Breweries. New Zealand Breweries (shares): b 35/6. Staples’ Brewery: b 25/6. Coal. Westport Coal: b 12/6; s 13/3. Kaitangata: b 21/9; s 22/6. Insurance. National: b 17/3; s 17/6. New Zealand: b 51/6. South British: b 68/6. Standard: s 60/-. Loan and Agency. Goldsbrough, Mort and Co.: b 28/-. National Mortgage: s 46/-. Perpetual Trustees (Dunedin): b 50/-, Wright, Stephenson and Co. (ord.): s 13/-; (pref.): b 13/6. Meat Companies. New Zealand Refrigerating (20/paid): b 16/1; (10/- paid): b 7/9. Southland Frozen Meat (£1 ord.): b 50/-; (10/-ord.): b25/6; (£lpref.): b 50/-; South Otago Freezing Co.: b 90/-. Mining. Electrolytic Zinc (ord.): b 21/6; s 22/6; (pref.): b 31/6. Gillespie’s Beach: b 2/2; s 2/4. Waitahu: b 7/3; s 7/5. Kildare: b 2/4. King Solomon: b 2/4; s 2/6. Mount Lyell: b 21/3. Okarito: b 12/1; s 12/3. Paddy’s Point: b 4/9; s 5/-. Waihi Gold Mining: b 24/9. Waihi Grand Junction: b 4/-; s 4/2. Freshford: b 6sd; s 7Jd. Nokomai: s 3/7. Bell Kilgour: s 1/5. Shipping. Union Steam Ship Co. (pref.): b 23/3. Woollen Mills. Mosgiel: b £8 6/-. Miscellaneous. British Tobacco (Aust.): b 34/-. Milburn Lime and Cement: b 31/-; s 32/6. New Zealand Drug: b 66/3. Wilson’s (N.Z.) Portland Cement: b 34/-. Debentures. Government Stock, 34 per cent., 1938: b £lOO 10/-. Government Stock, 3£ per cent., 1939: b £lOO 10/-. Government Stock, 4 per cent., 1940: b £lOO 10/-. Government Bonds, 4 per cent., 1940: b £lOO 10/-. Government Stock, 4 per cent., 1946: b £lOO 5/-. Government Bonds 4 per cent., 1946: b £lOO 5/-. Sale Reported. Southland Frozen Meats: 25/9. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, August 29. Sales on ’Change: Government Stock, 1955, 4 per cent., £lOO 5/-; Commercial Bank of Australia, 15/10; E. S. and A. Bank £5 6/6; National Bank of Australasia, (con.) £6 4/6’ Bank of New South Wales, £32 7/6, £32 10/-; Bank of New Zealand (D mort.) 32/10, 32/101; Dalgety and Company, £9 2/3; Goldsbrough Mort, 29/4J, 29/6; Loan and Mercantile, 47/10; Auckland Gas, 23/3; Electrolytic Zinc (pref.) 32/3; Farmers’ Trading 2/6; Bell Kilgour 1/4; Dig River 1/8 (3); Blackwater 35/9; King Solomon 2/5, 2/6; Gillespies Beach 2/3; Mataki, 1/9, 1/10, 1/11, 2/-; Okarito, 1/10; Waihi Junction 4/- (unofficial) Amalgamated Brick Wellington, 1944, 7g per cent., £9l 10/-; Weres (5/- paid)), 4/- (2). Wellington, August 29. Sales on ’Change: Inscribed Stock, 4 per cent. 1940, £101; ditto 4 per cent. 1946, £lOO 10/- (both late Monday); ditto 4 per cent. 1949 £lOl 5/-; Bank of New Zealand, 48/3 (7), 48/2; Goldsborough Mort 29/6; New Zealand Guar-

antee Corporation (pref.) 21/6; Gear Meat (cum rights) 32/- (2), (late Monday) 31/1 J; Southland Frozen Meat (cont.) 25/9; New Zealand Breweries 36/- (late Monday), 36/3 (2), 36/3, 36/6; Waihi 25/4; Gillespies Beach 2/3; Bell Hooper 9Jd. Christchurch, August 29. Sales on ’Change: Commercial Bank of Australia 15/10 (2); Commercial Bank of Sydney £l7 9/-; E.S. and A. Bank £5 6/-; National Bank of Australasia (£lO paid) £l2 19/- (3); Bank of New Zealand 48/5, 48/4, 48/3 (2) Goldsbrough Mort 29/6, 29/5, 29/4; Huddart Parker (cum. div.) 30/3 (3) New Zealand Refrigerating (10/paid) 8/3 (9), 8/4; Kaiapoi Woollen (17/- paid) 7/9; Westport Coal 13/-; New Zealand Breweries 37/1; Staples Brewery 25/3; Timaru (7/6 paid) 6/4; Toohey’s Brewery 22/7; Tooth’s Brewary 37/9; Electrolytic Zinc (pref.) 32/3 (3), 32/6;-Mt. Lyell 29/8 (3); Alexander Mines (13/6 paid) 23/6 (2), 23/3; Blackwater Mines 35/11, 36/- (3), 37/-; Freshford 7Jd; Golden Dawn 2/7; Waitahu (5/- paid) 7/5, 7/SJ, 7/4 (2); Golden Sands (cum div.) 3/IJ-; Mahakipawa 2d; Waihi Grand Junction 4/1 (2). Sales reported: New Zealand Government 4 per cent Inscribed, 1946, £lOO 10/-, £101; Bank of New Zealand 48/5 (2), 48/6, 48/5; Goldsbrough Mort 29/6, 28/9; Canterbury Frozen Meat (ord.) £9 10/-, £9 13/6 (2); New Zealand Refrigerating (10/- paid) 8/4, 8/4, 8/3J; New Zealand Breweries 36/6. Dunedin, August 29. Sales on ’Change: King Solomon 2/6, 2/5; Waitahu 7/3 (2); Gillespies Beach 2/2J; Bell Kilgour 1/4J-. Sales reported: Southland Frozen Meat (paid), £2 11/3 (3), (cont.) £1 5/9 (2); New Zealand Breweries £1 16/-; Gillespies Beach 2/3; 4 per cent. Inscribed Stock, April, 1949, £lOl 5/-; Bell Kilgour 1/4; National Mortgage £2 5/-; Waitahu, 7/3; Nokomai 3/6; Freshford BJd.

LORNEVILLE SALE. FAT SHEEP PRICES RISE. Apart from store sheep, of which there was a light yarding, the number of stock offered at the weekly sale at Lorneville yesterday was well maintained. Fat sheep again advanced a little, extra prime wethers going to 31/6, while lighter sorts realized fair values, but other classes of stock showed little if any movement. The yarding of fat sheep was down about 100 on last week and the demand was fairly keen. The yarding included some very prime wethers, but the majority were only of average quality. The yarding of fat cattle was in excess of last week’s figures and, as was the case last week, prices improved as the sale progressed, prime quality bullocks realizing up to £B. There was a big yarding of dairy cows, but the demand was weak, the best price realized being £4 12/6. Yesterday’s yarding and last week’s were:—

Three bulls and two vealers were included in yesterday’s yarding. Fat Sheep.—Extra prime heavy wethers realized from 29/6 to 31/6, prime heavy weights 27/- to 28/6, prime 23/- to 25/-, medium quality 20/- to 22/-, light and inferior down to 15/-; medium quality ewes 16/- to 18/-, light and inferior down to 13/-. Store Sheep.—The yarding consisted of a pen of two, four, six and eighttooth evzes in good condition and showing well in lamb, but very coarse in the wool, which realized 21/6, and a pen of small ewe hoggets, which realized 13/-. Store Cattle.—Two-and-a-half yearold steers realized up to £2 8/-, three-year-old steers £3 4/-, £3 11/-, yearling steers 35/-, and good empty cows brought from 35/- to 45/-. Aged and inferior sorts were down to 10/-. Dairy Cows.—There was a large entry in this section, comprised mostly of medium sorts. The market was very slack. Old cows were hard to quit at 15/- to £2. The good condition cows sold for £2 10/- to £4 12/6. Fat Cattle.—There was a large entry of all descriptions, but the quality all over could not be compared with that of the previous week. Prime quality medium weight bullocks sold up to £B, prime handy weight £6 to £7, light weights down to £5, extra prime heavy cows £6 5/-, £6 15/-, prime quality sorts £4 15/- to £5 10/-, lighter £3 10/- to £4 5/-, inferior down to £2, prime quality medium weight heifers up to £6, and light weights £4 5/- to £5. McNAB STOCK SALE. A SMALL ENTRY. The entry for the fortnightly McNab stock sale was very small there being only a few lines of sheep and odd cattle offering. The demand for fat wethers was not very keen and light sorts were neglected. Prime sorts realized up to £1 with light and medium sorts from 12/- to 16/-. A few store ewes realized from 9/- to 11/- and ewe hoggets sold at up to 16/-. Good bullocks realized from £6 17/6 to £7 2/6. Sales were as follows:— Southland Farmers’ Co-operative Association, Ltd.: Ewe hoggets 16/-, 9 fat wethers 12/-, 12 do. 20/-. Wright, Stephenson and Co. Ltd.: Fat hoggets 15/-, 16 forward wethers

13/9, 9 f. and f.m. ewes 9/-. Passed in: Heifer in milk 40/-. National Mortgage and Agency Co. Ltd.: 54 f.m. ewes 11/-, fat bullock £6 17/6, 2 do. £7 2/6. CLEARING SALE AT EDENDALE. Messrs Wright, Stephenson and Co., Ltd., report holding a successful clearing sale on account of Mr A. C. M. Ward, Edendale, on Friday, August 25. There was a large attendance of buyers and the stock in most cases met with good competition. Horses.—These met with a very ready sale especially young mares, the top price being £4O for a four-year-old mare. A filly foal made the satisfactory price of £l5 10/-. Dairy Cows.—These came forward in only fair condition, but SeptemberOctober calvers met with quite a good sale the top price being £9 10/-. Heifers were sold from £4 7/6 downwards. Cows averaged £5 10/-. Sheep.—There was only a small entry and the prices realized were up to late market rates. The following is a list of prices:— Horses. —4yr mare £4O; rising 4yr mare £36; syr gelding £3O 15/-; 7yr milk carter £23 10/-; Byr mare £2l; filly foal £l5 10/-; 3yr gelding £lO 10/-. Dairy Cows.—£9 10/-, £8 10/-, £7 10/-, 2 at £7 5/-, £B, 2 at £6 15/-, 7 at £6 10/-, 2 at £6 5/-, 3 at £6; 2 at £5 10/-, 2 at £5 5/-, 8 at £5, 3 at £4 10/-, £4 7/6, 2 at £4 5/-, 5 at £4, £3 10/-, £3 5/-, 2 at £3, £2. Sheep.—47 ewes at 19/1; 36 f.m. ewes at 7/6. Implements: Topdresser £l6 10/-; ridger £l5 10/-; roller £lO 10/-; d.f. plough £10; drill £10; dray and frame £8 10/-; binder £7 10/-; discs £5; blocks and chains £2; tyne harrows £5; grass harrows £6 10/-; cultivator £6 10/-. HORSE SALE AT WINTON. A KEEN INQUIRY PREVAILS. (From Our Correspondent.) At the monthly horse sale at Winton on Saturday conducted by Messrs Wright, Stephenson and Company Ltd., there was a keen inquiry throughout, especially for good working draughts, and a total clearance was made at auction. Of the entries there were no outstanding. lots, but a number of good farm horses were offered. The top price secured was £3B for a four-year-old gelding, while a seven-year-old gelding realized £34 10/-. A five-year-old draught mare was keenly sought and was disposed of at £3l 10/-. A number of draughts from nine to twelve years made from £l5 to £24. A quantity of harness and sundries was also sold. GRAIN REPORT. Messrs Donald Reid & Co. Ltd. report as under:— Wheat—Occasional lots of milling quality are still offering from the south. A fair proportion of these are passing the milling test and consequently are accepted by the Wheat Board at present figures which remain, until the end of the month as follows:—Tuscan 3/8; Hunters 3/10; Velvet 4/-; sacks extra f.o.b. main ports. Fowl wheat is still offering freely. Values to growers range from 2/10 to 3/3, regulated by the cost to put the wheat into store Dunedin. Good fowl wheat is offered ex store to resellers from 3/6 to 4/-; sacks extra; quality and quantity purchased; accounts for the difference in value. Oats.—The depression in this market continues. Farmers who, in some cases have not yet threshed, will not accept the prices offering. Merchants’ offerings, on the other hand are only of a speculative nature. Oatmeal millers are just standing by apparently having secured sufficient at the beginning of the season. A grade oats are nominally worth from 1/4 to 1/6 per bushel to growers at their sidings. B grade are worth less but holders of this grade are feeding their stock in preference to selling. Chaff.—There is ample arriving to fill the local demand. £3 10/- is the value of good oaten sheaf; sacks extra ex truck. £3 15/- to £4 5/- is the corresponding value when sold ex store Dunedin. Potatoes.—This market appears to have reached bottom again, but buyers are not taking much interest in the consignments arriving. These, coming both from the north and south have to combat with lines that have been held in local stores by northern merchants and not required for shipment. This really is the contributing fact to the recent fall in value. Consignments of good table whites have realized up to £4 10/- sacks in, ex truck Dunedin. These lines are freshly picked. Soft unpicked and badly graded tubers are nearly unsaleable. SYDNEY STOCK EXCHANGE. EXTREMELY HEAVY TRADING. INVESTORS DISPLAY CONFIDENCE. (United Press Assn.—Telegraph Copyright.) (Rec. 8.10 p.m.) Sydney, March 29. The rise in wool values exceeding the most optimistic anticipations, investors on the Stock Exchange to-day responded with a greater display of confidence than has been witnessed since 1929. With one or two exceptions share values moved upward and business was extremely heavy. The greatest excitement prevailed in the vestibule which was chocked with investors. Sales:—

OKARITO DIVIDEND. (Per United Press Association.) Dunedin, August 29. The Okarito dividend of 1/- per share previously announced is payable on September 16.

FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, August 28. The following rates of foreign exchange are current to-day compared with par:—

THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 9.30 p.m.) London, August 28. Metal Quotations are as follows:—

PRICE OF BUTTER. (Per United Press Association.) Wellington, August 29. The wholesale price of butter in Wellington will be reduced to-morrow by a halfpenny per pound. ELECTROLYTIC ZINC COMPANY. (Per United Press Association.) Wellington, August 29. The Electrolytic Zinc Company today advised the Stock Exchange Association that a dividend has been declared at the rate of 8 per cent, per annum for the year ended December 3L 1932, payable on November 2 on preference shares. THE APPLE MARKET. (United Press Assn.—Telegraph Copyright.) London, August 28. The Comorin’s New South Wales apples arrived in excellent condition, and prices were the same as those realized for the Otranto’s shipment. Apples were very weak. Further sales of Tasmanian stunners were made at 2/- to 4/- and Granny Smiths at 4/to 6/-. DOLLAR QUOTATION. (United Press Assn.—Telegraph Copyright.) London, August 28. The dollar is quoted at 4.58.

Fat cattle August 29. August 22 137 129 Store cattle 203 145 Fat sheep 720 904 Store sheep 56 179 Dairy cows 133 98

£ s d Bank of New South Wales 32 17 6 Commercial Bank of Sydney 17 12 0 National Bank (£5 paid) 6 6 0 Colonial Sugar 59 7 6 Australian General Insurance 10 3 Mercantile Mutual Insurance 18 0 Associated Newspapers 8 7 Associated Newspapers (pref.) 18 9 Burns Philp 2 12 0 Berlei (New Zealand delivery) 1 6 6 British Tobacco 1 15 11 Australian Glass 2 9 6 Dunlop Perdriau 18 3 Goldsbrough Mort 1 10 0 Commonwealth Wool 19 Wilcox Mofflin 10 0 Winchcombe Carson 1 9 101 Electrolytic Zinc 1 3 0 Anthony Hordern 10 9 Automatic Totalisator 12 9 Howard Smith 12 4 Tooth’s 1 19 0 Toohey’s 1 3 9 General Industries 9 2 Meggitt’s 1 0 3 Standard Cement 15 9 Broken Hill Pty. 1 17 6 South Broken Hill 3 1 0 Bulolo Gold 4 17 0 Bulolo Deposits 1 8J Mount Morgan 2 4 0 Mount Morgan (New Zealand delivery) 2 4 0 Melbourne Sales. Commercial Bank of Australia 16 2 Commercial Bank of Australia (pref.) 8 19 0 Golds! ough Mort. 1 9 9 Herald and Times 2 4 9 Electrolytic Zinc 1 3 0 Australian Glass 2 10 0 Mount Lyell 1 1 9 Mount Mor"c.n 2 4 6

Wiin par. — Par. To-day. Paris, fr. 124.21 81 7-16 New York, dol. 4.866 4.53 Montreal, dol. 4.866 4.76J Brussels, belga 35.00 22.85 Geneva, fr. 25.22 16.47J Amsterdam, fr. 12.10 7.90J Milan, lira 93.46 60 7-16 Berlin, r.m. 20.42 13.36 Stockholm, kr. 18.159 19.37J Copenhagen, kr. 18.159 22.40 Oslo, kr. 18.159 19 7-8 Vienna, sch. 34.585 30 nom. Prague, kr. 20.02 107 5-8 Helsingfors, mark 124.23 2261 Madrid, kr. 15.225 38J Lisbon, escu 4i 106 Athens, dr. 370.00 565 Bucharest, lei. 25.225 540 Belgrade, kr. ■ 245 Montevideo, dol. 45.57d 35 nom. Buenos Aires, dol. 45.57d 43J Rio de Janeiro, mil. 4.898 41 Bombay, rupee ■ — ■— 18 1-16 Shanghai, tael 14 15-16 Hong Kong — 16 5-8 Yokohama, p. to yen 24.582 14 5-16

Aug. 24. Aug. 28. d. £ s. d. £ s. Copper, standardSpot 35 4 35 18 9 Forward 35 8 9 35 3 li Copper, electrolytic— Spot 39 10 0 39 15 0 Forward 40 0 0 40 15 0 American 9 cents. Wire Bars 40 0 0 40 15 0 Lead— Spot 11 17 6 13 3 9 Forward 12 2 6 12 1 3 Spelter— Spot 16 16 3 16 1 3 Forward 16 16 3 17 2 6 TinSpot 213 8 9 217 2 6 Forward 218 2 6 216 16 3 Silver (pence) — Standard 11 r? 17 13 -16 Fine 19 5-1 16 19 3-16