COMMERCIAL

Southland Times, Issue 22132, 28 September 1933, Page 3

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted: Banks. Australasia: b £l2 15/-. Commercial: b 17/1, s 17/6. E.S. and A. Bank: b 115/-. National of New Zealand: b 85/-, s 87/-. New South Wales: b £33 15/-. New Zealand: b 45/6, s 47/-. Union of Australia: b £lO 5/-. Breweries. Staples’ Brewery: b 27/-. Tooth’s Brewery: b 38/6, s 40/-. Coal. Westport Coal: b 12/10, s 13/3. Kaitangata: s 22/-. Insurance. National: b 18/-, s 18/3. New. Zealand: b 55/-, s 56/-. South British: s 75/-. Standard: b 60/-, s 62/6. Loan and Agency. Dalgety and Co.: b £lO 10/-, s £lO 16/-. Wright, Stephenson and Co. (ord.): b 13/-, s 15/-; (pref.): b 13/3. Meat Companies. N.Z. Refrigerating (20/- paid): b 19/-; (10/- paid): b 9/7, s 9/10. Southland Frozen Meat (£1 ord.): b 52/6; (10/- ord.): b 26/3; (£1 pref.): b 52/6. South Otago Freezing Co.: b £5, s £5 8/-. Mining. Big River: b 1/6, s 1/9. Electrolytic Zinc (ord.): b 24/-, Gillespie’s Beach: b 2/2j, s 2/4. Golden Sands: b 3/3. Waitahu: s 7/9. Kildare: s 2/4. King Solomon: b 3/—, s 3/4. Mount Lyell: b 23/-. Okarito: s 11/6. Paddy’s Point: b 5/4, s 5/5. Waihi Gold Mining, b 26/6, s 27/-. Waihi Grand Junction: b 4/3, s 4/6. Freshford: b Bd, s B£d. Nokomai: b 2/11, s 3/-. Bell Hooper: b 1/-, s 1/1. Bell Kilgour: b 1/7, s 1/81. Shipping. Union Steam Ship Co. (pref.): b 23/6. Woollen Mills. Bruce (pref.): s 20/-. Mosgiel: b £8 15/-. Miscellaneous. British Tobacco (Aust.): b 35/6. Colonial Sugar Co.: b £5B 15/-. Dominion Fertilizer: s 13/6. Donaghy’s Rope and Twine: b 41/-. Milburn Lime and Cement: b 30/9, s 31/9. New Zealand Drug: b 68/-. N.Z. Farmers’ Fertilizers: b 14/3. N.Z. Guarantee Corporation: b 7/6, s 7/11. New Zealand Paper Mills: b 27/6, s 28/3. Debentures.Govemment Stock 3i per cent., 1938: b £lOO. Government Stock 3J per cent., 1939: b £lOO. in Government Stock 4 per cent., 1940: b £lOO 15/-. Government Bonds 4 per cent., 1940: b £lOO 15/-. Government Stock 4 per cent. 1946: b £lOO 10/-. Government Bonds 4 per cent. 1946: b £lOO 10/-. Government Stock 4 per cent., 1949: b £lOl 5/-. Government Bonds 4 per cent., 1949: b £lOl 5/-. Government Stock 4 per cent. 195 a: b £lOO 10/-. Government Bonds 4 per cent. 1955: b £lOO 10/-. Sales Reported. King Solomons, 3/IJ. N.Z. Breweries, 36/-. Farmers’ Fertilizers, 14/6. 1955 Inscribed Stock 4 per cent, £lOO 7/6. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, September 27. Sales on ’Change: Stock 1940, 4 per cent. £101; Stock 1946, 4 per cent. £lOO 12/6; Stock 1949, 4 per cent. £lOl 5/-; Stock 1955, 4 per cent., £lOO 12/6 (2); Commercial Bank of Australia 17/1; Bank of New South Wales £33 17/6, £34; Bank of New Zealand 45/9 (2); Union Bank £lO 8/6; N.Z. Insurance 55/3; South British 74/9; Dalgety and Co. £lO 13/6; Goldsbrough Mort 29/4, 29/2J; N.Z. Guarantee Corporation 7/9, 7/10; Auckland Gas 23/7; Devonport Ferry 20/3; Huddart Parker 31/6; N.Z. Breweries 37/-; Bycroft 38/lOj, 39/-; Colonial Sugar £59 5/-; Dunlop Rubber 19/3; N.Z. Newspapers 28/3; N.Z. Refrigerating (con.) 9/9; Robinson Ice 17/6; Big River 1/7|; Gillespies Beach 2/3J; Golconda (7d paid) 9d; Okarito 11/1 (2); Waihi Junction 4/5; Mt. Lyell 24/2, 24/3 (3); Rawang Tin 5/7. Unofficial, Challenge Phosphate 1942, 7|- per cent, £ 103. Wellington, September 27. Sales on ’Change: Inscribed Stock 31 per cent. (1939-43) £lOO 7/6, £lOO 5/-; stock 3J per cent. 1938-52 £lOl 7/6, £lOl 5/-; National Bank of Australasia £lO paid (2) £l3 11/-; Bank of New Zealand £2 6/-, late yesterday; ditto (5) £2 6/-; N.Z. Guarantee Corporation, cum. div. 7/8, 7/9, 7/11, 8/-; N.Z. Loan and Mercantile ord. £65; South British Insurance £3 14/6 (late yesterday); N.Z. Refrigerating (10/paid) 9/9J (late yesterday); N.Z. Breweries (2), £1 16/6; N.Z. Drug Co. £3 10/-.

Christchurch, September 27. Sales on ’Change: Bank of New South Wales £34; N.Z. Government 4 per cent. Inscribed 1940, £lOl 7/6; New Zealand Government 4 per cent. Inscribed (1946) £lOO 10/-; 4 per cent. Inscribed (1949) £lOl 10/—; Commercial Bank of Australia 17/1, 17/- (2), 16/11; Commercial Bank of Sydney £lB 8/- (2); National Bank of Australasia (£5 paid) £6 15/-; Bank of New South Wales £33 17/6; Bank of New Zealand 45/9; Bank of New Zealand “D” (mort. shares) 34/-; Goldsbrough Mort 29/1; N.Z. Guarantee Corporation (cum div.) 7/10, 7/9 (2); N.Z. Refrigerating (£1 paid) 19/6; N.Z. Refrigerating (10/- paid) 9/9, 9/10 (2); Kaiapoi Woollens (17/- paid) 9/2; Dunlop Rubber (cum div.) 19/-, (5); Mt. Lyell 23/10, 24/- (5); N.Z. Farmers’ Co-op 4J per cent. Stock (1940) £6O (3); Alexander Mines (13/6 paid, cum div.) 17/5, 17/7, 17/9; Nokomai 2/11; Waihi Grand Junction 4/3|; Mataki 2/3. Sales reported: N.Z. Government. 4 per cent. Inscribed (1949) £lOl 12/6; National Bank of Australasia (£5 paid) £6 15/6; Bank of New South Wales £34; Dalgety and Co. £lO 7/6; Bank of New Zealand (late sale 26th) 46/3; Goldsbrough Mort 29/4; N.Z. Guarantee Corporation (cum div) 8/-, 7/8; Southland Frozen Meat (fully paid ord.) 53/-; Electro Zinc (pref cum div) 34/6; Mt. Lyell 24/-, 23/11 (2), 24/1; N.Z. Farmers’ Co-op. 4J per cent, stock (1939) £6O. Dunedin, September 27.

Sales on ’Change: National Mortgage 52/6; Mt. Lyell 23/11; Paddy’s Point 5/4; Bell Hooper l/OJ. Sales reported:—Bank of New Zealand 46/3, 46/- (2); National Bank £4 5/6; Commercial Bank 17/1; Mosgiel Woollen £9 5/- (2); Southland Frozen Meat (paid) £2 13/- (2); Mount Lyell 23/8, 24/- (3); Okarito 11/-; King Solomon 3/3; Gillespie’s 2/3 (2); Bell Kilgour 1/7J; Bell Hooper 1/Oj; 4 per cent, stock (1940) £lOO 17/6

Sales after call: Waihi Junction 4/4: Bell Kilgour 1/7J. THE DOMINION EXECUTIVE TRUST, LTD. OFFERS TO INVESTORS A Limited Number of £5O First Mortgage Perpetual Income Debentures. Particulars on application to the Brokers. THE INVESTMENT EXCHANGE (N.Z.), LTD. Alexandra Buildings, Don Street. W. A. OTT & CO., LTD. STOCK AND SHAREBROKERS. Dee Street, Invercargill. W. A. OTT, A. W. JONES Directors. Members Invercargill Stock Exchange. At 943 ADDINGTON STOCK SALE. FAT SHEEP PRICES RISE. (Per United Press Association.) Christchurch, September 27. A short yarding of fat sheep of fairly poor quality caused a sharp rise in prices at Addington to-day. Values were fully two shillings up and in cases four to five shillings. Fat cattle also improved by ten shillings per head. Store sheep met a steady demand, particularly ewes with lambs. Fat Cattle.—An entry of 335. The quality was better than recent yardings with consignments forward from Otago, Southland and the West Coast. A steady sale, top price being £l4 12/6. Values were: Show bullocks £l4 12/6, extra prime heavy steers to £l3 2/6, prime heavy £9 10/- to £l2, prime mid-weight £8 10/- to £lO 10/-, ordinary £6 10/- to £B, light to £6, extra prime heifers to £lO 17/6, prime £6 15/- to £8 15/-, medium £4 15/to £6 5/-; light to £4 10/-; show cow £lO 1/6; extra prime £8 10/- to £9 7/6; prime £5 10/- to £7 10/-; medium £4 to £5 5/-; light to £3 15/-. Best beef made 26/- to 29/- and in a few cases over 30/-, good 22/- to 26/-; heavyweight 19/- to 22/-; medium 15/to 18/-; rough down to 14/-. Fat Sheep.—A yarding of 3000. The quality was below the average. There was a strong demand. Values were: Prime heavy wethers to 40/1, prime heavy 31/6 to 35/-; medium weight prime 28/- to 31/-; ordinary 24/- to 27/6; light 20/- to 23/6; extra prime heavy ewes to 34/7; prime heavy 29/to 32/-; medium weight, prime 26/- to 28/6; ordinary 23/- to 25/6; light 19/— to 22/6. Spring Lambs—A yarding of 220, the biggest this season. An easing in demand but a steady sale at an average of from 91 d to lOd. Store Sheep.—A fairly small yarding with not many outstanding lots. Ewes with lambs were in keen demand at good prices. Values were: Medium ewe hoggets to 15/3, good wether to 16/2, medium 12/- to 14/6, medium m.a. 13/- to 15/-, ordinary m.a. 10/to 12/-, medium ewes and lambs (all counted) to 11/10, ordinary 7/- to 9/-, good s.m. ewes to 18/2, ordinary 14/to 16/-, good wethers to 18/2, ordinary 14/- to 16/-. Fat Pigs.—A medium entry which met a good demand. Medium weight porkers were in short supply. Good demand for baconers. Values were: Choppers 20/- to £3 18/6, porkers 27/6 to 32/6, heavy 35/6 to 38/6, average price pound 5d to 5Jd, baconers 45/6 to 52/6, heavy 58/6 to £3 2/6, extra heavy to £3 5/6, average price pound 4d to 4J d.

BURNSIDE STOCK SALE. RISE IN FAT CATTLE VALUES. (Per United Press Association.) Dunedin, September 27. The yarding of 215 fat cattle offered at the Burnside sales to-day contained a very mixed display and only a few consignments showed prime quality. The proportion of light and unfinished cattle was greater than usual and the offering generally showed the effect of the recent dry conditions. The market opened 10/- to 20/- up on last week’s rates and soon improved, particularly for cows and heifers. Another substantial rise in values was recorded all over the sale, the bulk of the yarding being cleared from 15/- to 20/- per head above last week’s rates. The best prices obtained were for medium weights. A nice line of prime heavy bullocks from Waikouaiti made to £l3 12/6. Extra prime heavy bullocks sold to £l3 12/6. prime heavy £lO to £l2, medium £7 10/- to £9 10/-, light and unfinished to £6 10/-, best heifers sold to £l2 2/6 and others from £4 10/- to £7 10/~ according to weight and quality. Best cows were worth up to £7 and others £3 10/- to £5. Prime wethers were again prominent in the yarding of 1800 sheep and some excellent lines of ewes were also included. Butchers had a wide selection from which to choose and while outside buyers were not so much in evidence this week, still competition from this source had a material effect on values, recollecting the high prices paid at the end of last week’s market. Buyers made sure of their requirements early in the sale with the result that an easing in values per head occurred in the concluding stages. Except in the last race which showed a drop of 2/- per head, the prices for ewes were firm at the previous week’s rates. Extra prime heavy wethers sold _ to 34/3, prime heavy 29/- to 32/7, prime medium 25/- to 28/-, light prime 21/to 24/-, light and unfinished 16/-. to 19/-, best ewes made to 29/9, prime heavy 26/- to 28/-, prime medium 20/to 26/-, light prime 20/- to 22/-, unfinished 16/- to 19/-. A few pens of hoggets sold well up to 22/-. Lighter sorts did not attract keen competition. Some excellent quality spring lambs sold at fully last week’s rates, top price being 35/-. A medium entry of store cattle was forward, comprising mostly graziers cows and boners with two small Pens of two and a half to three-year-old steers. The latter met with keen competition in keeping with the improved prices for fat cattle. Values for store cows were on a par with last week’s rates. In the small yarding of dairv cows forward there was nothing outstanding in the quality offered. Top price was £4 10/-. Old cows and late calvers met with a quiet demand and consequently were hard to quit, even at the reduced rates. Eighty-six fat pigs were forward. Tne sale was keen, prices appreciating 5/and 7/6 per head. Good baconers made up to £2 17/- and good porkers £2 10/-. There was a fairly large yarding of store pigs, the number forward being in excess of the requirements. The prices realized were somewhat easier compared with those which were ruling at the last few sales.

RABBIT SKIN SALE. The Dunedin Stock Agents’ and Woolbrokers’ Association (Messrs Dalgety and Co., Ltd., Donald Reid and Co., Ltd., Stronach, Morris and Co., Ltd., New Zealand Loan and Mercantile Agency Company, Ltd., Wright, Stephenson and Co., Ltd., Otago Farmers’ Co-operative Association, National Mortgage and Agency Company, Ltd.) reports as follows, states the Otago Daily Times: — Comparatively small catalogues were offered at the rabbitskin sale held on Tuesday, and with the advancing season the quality is becoming poorer. There was a quieter demand generally and all grades were lower than last sale’s rates. Winter bucks were lower by 4d to 6d per lb, and good does show-

ed a slightly bigger decline. Outgoing and spotted does were 2d to 3d lower and all inferior grades such as broken were 2d to 3d lower. The following is the range of prices:—Summer broken, 5Jd to 6d; autumn broken, lOd to 12d; second winter broken, 15d to 16d; first winter broken, 18d to 19d; runners, 3d to sd; summers, 6|d to 7]d; light racks, 7d to 8d; early autumns, 13d to late autumn, 18d to 20d; second incoming, 18d to 20d; incoming winter, 30d to 36d; early winter bucks, 40d; early dinter does, 22d; first spotted winters, 42d to 47d; second winter bucks, 54d to 60d; second winter does, 28d to 29Jd; first winter bucks, 70d; first winter docs, 36d to 36Jd; prime bucks, 74d; prime does, 42d; second spotted winters, 38d to 40d; outgoing does, 18d to 21d; springs, 14d to 14Jd; milky, 9d to 14d; fawn, IGd; winter fawn, 36d; summer black, 4d to sd; autumn black, lOd to 12d; first winter black, 20d to 22d; second winter black, 14d to 16d; hareskins, 4d to 8d; horsehair, 12d.

FAT LAMB COMPETITION. AMENDED RULES. INTER-ISLAND CHAMPIONSHIP. The secretary of the Southland A. and P. Association (Mr A. L. Adamson) has received from the New Zealand Meat Producers’ Board the following schedule of the conditions for the 193334 district competition in export lambs:— (1) The North and South Island provinces are to be regarded as separate districts a shield being presented for competition in each island. (2) The local Agricultural and Pastoral Association in each district to be the controlling body. Each association to attend to the collection, tagging, cataloguing, killing, etc., of the respective entries. Bill of landing and specification to be handed to the Meat Board at time of shipment. (3) Each individual pen to consist of three lambs. Entries from each farmer to be limited to not more, than two pens of lambs. Tire competition to be confined to lambs bred for export and not for stud purposes. All lambs must be either long-woolled or the progeny of a Down or short-woolled ram crossed with a long woolled ewe, or a Corriedale ewe, or a long-woolled Merino-cross ewe. Exhibitors must make a declaration as to the breeding of the lambs at time of entry.

(4) The local A. and P. Association in each district shall go through the entries after killing and arrange for the selection of 15 pens i.e. 45 lambs. This quantity only, neither more nor less, shall constitute the district’s entry for the competition and shall be the only ones shipped to London. This is being done to ensure the best possible display from each district and also because the facilities for displaying on Smithfield market are limited. It is hoped, however, that the entries will, in the first instance be as large as possible as this will give a wider choice for the A. and P. Association to select the best 15 pens as above. If any district requires the services of the board’s supervising grader to make the selection of the best 15 pens, the board will be pleased to arrange for this to be done.

(5) The individual weight of each lamb shall not exceed 401 b frozen weight. (6) In the case of an exhibitor entering two pens and having any inferior, damaged or overweight carcasses in both pens such exhibitor may have one pen made up after killing from the two pens entered. (7) To enable farmers to see the carcasses of lambs after they are killed, in order to compare the quality, each A. and P. Association shall arrange for a field day at the freezing works on the day on which the lambs are killed, and all lambs entered for this competition must be killed together on this particular day. No lambs other than those which are killed on this field day are eligible for this competition. The A. and P. Association attending to the killings in each district shall certify that the lambs shipped in this competition are confined solely to these pens. (8) The lambs in the South Island to be killed not later than January 31. (9) The lambs to be double-bagged—-inside cover stockinette, outside hessian—and shipped Home consigned to the London manager of the New Zealand Meat Producers’ Board, who will arrange for the displaying and judging. (10) All lambs shipped from each district to be shipped on consignment, and after they are judged and displayed to be : ild on account of the respective A. and P. Association in each district which will account to the various owners for the lambs. (11) The New Zealand Meat Producers’ Board is to offer a perpetual Challenge Shield for the best district display of lambs from the South Island. The shield to be inscribed each year with the name of the winning district and to be held for one year. A separate shield will be given for the North Island. (12) The board also offers three prizes: First £l5, second £lO, third £5, for the best individual lots of lambs shipped from each island. (13) It has been suggested that each A. and P. Association offer prizes for the best pens shipped from its own district in order to encourage competition in their particular district. The board will arrange for judging in London. (14) Should the number of districts which enter for the competition in either island, be, in the opinion of the board not sufficient to warrant a competition for the shield, the respective A. and P. Associations which have entered will be notified accordingly, and if they still desire to ship the lambs entered the board will award the prizes as in Clause 12 but will not award the shield.

DAIRY PRODUCE. Mr G. Blaxall reports having received the following advice from Messrs Lovell and Christmas Ltd., dated September 26, 1933: Butter. Finest 107/-; first grade 104/-. Decline owing to less activity. Cheese: White and coloured 53/-, 54/-. Market quiet. SYDNEY STOCK EXCHANGE. PASTORAL STOCKS EASIER. (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) Sydney, September 27. Despite some irregularity gains were more numerous than falls on the Stock Exchange to-day. Pastoral stocks were inclined to ease. Sales:—

Melbourne Sales. Howard Smith 13 3 Dunlop Perdriau 19 0 Herald and Weekly Times 2 3 4 Mt. Lyell 13 9 COMMONWEALTH STOCKS. (United Press Assn.—Telegraph Copyright.) (Rec. 7 p.m.) New York, September 25. Commonwealth 5 per cents 1955 are quoted at £B5 15/-, 1957 at £B6 2/6; New South Wales 1957 at £74 2/6, 1958 at £B4 7/6; and Queensland 7 per cents at £99. BRITISH STOCK MARKETS. (British Official Wireless.) Rugby, September 26. The stock markets closed with a little irregularity. British funds remained steady. Japanese bonds closed weak, while Kaffirs became firm on the receipt of news that the strikes at the mines had been called off. THE DOLLAR QUOTATION. (United Press Assn.—Telegraph Copyright.) London, September 26. The dollar is quoted at LONDON WOOL SALES. STRONG COMPETITION. (United Press Assn.—Telegraph Copyright.) London, September 26. At the wool sales 12,292 bales were offered, including 1795 from New Zealand. About 7511 were sold. There was strong Yorkshire and Continental competition, and prices were fully maintained. Merinos greasy, Queensland, 18d; South Australia, 23d. Scoured, Queensland, 27£d; New Zealand, slipe, halfbred lambs, “CMC Eclipse Challenge” top 16ad, average 14Jd. SYDNEY WOOL MARKET, STRONG COMPETITION. (United Press Assn.—Telegraph Copyright.) (Rec. 9.15 p.m.) Sydney, September 26. At the wool sales 13,001 bales were offered and 11,520 sold, 1615 being disposed of privately. All the better classes of fleece wools and good skirtings were very firm under strong competition. Inferior wools and short carbonizing descriptions met with a restricted demand and the market for them was weaker. The outstanding feature was the demand for comebacks and crossbreds, prices for finer sorts displaying a hardening tendency with other grades firm at late rates. Greasy Merino made to 21Jd for seven bales from Curlewis. THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8 p.m.) 'London, September 26. Metal quotations are as follows:—

£ s d Bank of New South Wales 34 5 0 National Bank (£5 paid) 6 17 0 Queensland National Bank 5 12 6 Colonial Sugar 59 17 6 Mercantile Mutual Insurance 1 0 3 Australian Provincial Assurance 12 10 Howard Smith 13 5 Associated Newspapers 19 0 British Tobacco 1 17 3 Dunlop Perdriau 19 1 Tooth’s 2 0 0 Toohey’s 1 3 6 Electrolytic Zinc 1 6 9 Henry Jones 1 18 6 Anthony Hordern 12 0 Anthony Hordern (pref.) 1 0 4JMeggitts 1 2 3 Lustre Hosiery 16 7| Farmers 14 0 Standard Cement 16 9 Berlei 1 7 9 Australian Glass 2 9 6 Automatic TotalisatorS 15 9 David Jones 1 13 3 Broken Hill Pty. 1 10 4J North Broken Hill 4 10 0 Mt. Morgan 2 9 3 Bulolo Deposits 1 10

Sept. 25. Sept. 26. £ s d £ s d Copper, standardSpot 34 2 6 34 2 6 Forward 34 6 3 34 6 3 Copper, electrolytic— Spot 37 5 0 37 5 0 Forward 38 0 0 38 0 0 American 9 cents Wire Bars 38 0 0 38 0 0 Lead— Spot 11 18 9 12 0 0 Forward 12 2 6 12 3 9 Spelter— Spot 16 12 6 16 11 3 Forward 16 16 3 16 15 0 TinSpot 215 16 3 215 11 3 Forward 215 8 9 213 7 6 Silver (pence)— Standard 18 7-16 184 Fine 19s 19 5-16