COMMERCIAL

Southland Times, Issue 22139, 6 October 1933, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS FRUIT AND VEGETABLES. Apples are in shorter supply, the majority of the crop left being in cool store. The market for Sturmers and Delicious is firming. Cookers with the exception of Lord Wolsey are practically finished. Prices are as follows:— Sturmers, 7/- to 9/-; Delicious 9/- to 10/6; cookers 6/- to 8/-. A large consignment of South Australian oranges arrived ex the Wainui, the bulk being disposed of early in the week at prices ranging from 16/to 26/- for double cases. The counts were mostly of large size fruit. New Zealand lemons are plentiful and are realizing low prices ranging from 7/to 12/- per case. A shipment of bananas ex the Maui Pomare arrived on a bare market and as they were in excellent condition they realized satisfactory prices, ranging from 20/- to 26/- per case. Californian grapes are in good supply and are bringing medium prices. Following a slow market cauliflowers are in shorter supply. Prices range from 3/- to 7/6 per dozen. Cabbages are scarce and are realizing 2/6 to 4/6 per dozen. Celery is bringing 1/6 to 4/6 per dozen, according to size; leeks and spring onions 1/3 to 2/- per dozen bunches. Carrots, parsnips, pumpkins and beet are worth 7/- to 9/- per cwt. Small, inferior lettuce are worth 6d to 9d per dozen, better quality to 3/9 per dozen. Hot-house tomatoes are expected early next week. Grain and Produce. Oats.—The shipping market shows rather an improved tone and orders are to hand for A grade oats and for good lines on sample at 1/11 to 2/f.0.b., s.i. Very few oats are offering from farmers, and merchants have to rely for orders on their store stocks. Prices to farmers are about 1/3 for A grade and 1/- for B’s, on trucks country sidings. Wheat.—Practically all the milling wheat has been dealt with and most lines available for fowl feed have also been handled. The price to farmers for this quality is about 2/6 on trucks, country sidings. Chaff.—This market is very dull and as there is no shipping inquiry any lines purchased by merchants have to be dealt with locally. Offerings from farmers are fully sufficient to meet the demand. Good bright quality chaff is worth £2 5/-, on trucks country sidings. Other grades are not in demand. Ryegrass.—The market has improved considerably in the past few weeks and merchants have cleared up a great part of their surplus stocks. Practically no ryegrass is offering from farmers, but the value on trucks, country sidings, runs from 1/3 to 1/6 per bushel.

Potatoes.—The market remains in a depressed state. There is practically no demand for shipment and the local market is over-supplied. The value to farmers was from 30/— to £2 per ton on trucks country sidings, according to quality and variety. There is very little demand for main crop seed potatoes.

CURRENT PRICES. Wholesale. Eggs, Bd. Bacon, 9jd. Bran, £5 15/-. Butter, factory, 1/1 J; separator, Bd. Flour, £l4 12/- to £l5 17/-. Oatmeal, £l6 to £2l, Retail. Eggs, lOd to lid. Bacon, lid. Pollard, 8/6 per 1001 b. Butter, factory 1/3; separator, lOd. Bran, 7/6 per 1001 b.

Flour, 25’s 4/6; 50’s 8/9; 100’s 17/-; 200’s 33/6. Oatmeal: 25’s 6/-; 50’s 11/6. Onions, Californian, 31b for 1/-. Distributors, Ltd. Distributors, Ltd., . Invercargill, advise the following prices:—

MARKET REPORT. As the result of successful negotiations between two well-known northern firms of jam makers and fruit preservers, a large fruit canning and pulping factory is to be established in Dunedin for the purpose of handling 200 to 300 tons of Central Otago apricots every year. Tenders have been let for the erection of modem factory premises in the city, which will provide seasonable employment for at least 200 girls and a small number, of men. The firms which are undertaking the new enterprise are Messrs Kirkpatrick and Co., of Nelson, and Messrs Thompson and Hills, of Auckland, and it is hoped to make a start with this season’s crop. The new venture represents a valuable addition to local industry from the viewpoint of town and country alike, and will tend to stabilize the prices of stone , fruits, which have always been subject to considerable fluctuations on the market.” A London cable states that Mediterranean currants have advanced considerably. The scarcity of Mildura currants is no doubt the direct cause of this advance and much higher prices will be realized during the next few weeks. The cheese market is now showing activity and buyers should watch this market very carefully and secure parcels at the best possible price. The Monowai arrived at Auckland on October 2 with a fairly heavy cargo of Canadian onions. Supplies for the local market should be available about October 20. The British Columbia salmon packers advise that they are sold out of lib flats of Sockeye, Cohoe and Pinks, other sizes are still available.

THE STOCK MARKET. There was a much larger yarding of fat sheep forward at Lomeville on Tuesday last, when competition was hardly as keen as usual, with the result that medium quality sheep showed a slight easing tendency, while heavy sheep, in many cases, also showed a slight easing in value. The first of the season’s fat lambs were forward and met with keen competition, with the result that exceptionally good prices were obtained for these. Quite a good yarding of fat cattle was offered, the quality taken all over been fairly good. Prices in this section also showed an easing in value. The usual entry of dairy cattle was forward, there being a slightly better tone in the market for these. Similar conditions ruled for store cattle, fanners being much keener to operate, with a resultant rise in prices. The following is a range of prices ruling at the present time at Lorneville:— , , „ . Fat Cattle.—Prime heavy bullocks £9 to £lO 2/6; prime quality £7 10/to £8 15/-; medium weights £6 to £7; lighter and unfinished sorts down to £5; prime heavy cows £6 10/- to £7 10/-; prime quality medium weights £5 5/- to £6 5/-; good quality £4 to £5; inferioi’ sorts down to £2 10/-; prime quality heifers £6 10/- to £7 10/-; good handy weights £5 10/- to £6 5/-; lighter sorts down to £2 10/-. Fat sheep.—Extra prime heavy wethers 28/6 to 30/-; prime heavy wethers 25/6 to 28/-; medium weights 23/6 to 25/—; lighter weights 19/6 to 22/6; prime heavy ewes 19/- to 21/6; medium quality 17/- to 18/6; lighter sorts down to 14/-; best quality lambs 27/6 to 33/-; light weights down to 24/9.

INVERCARGILL STOCK EXCHANGE YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks. Commercial: s 17/-. E.S. and A. Bank: s £6 1/6. National of New Zealand: b 84/-. New Zealand: b 46/-. New Zealand Long “D” issue: s 34/-. Union of Australia: b £lO 10/-. Breweries. New Zealand Breweries (shares): b 37/-, s 38/-. Coal. Westport Coal: b 13/2, s 13/6. Kaitangata: b 21/6. Insurance. Flew Zealand: B 54/—, s 55/6. Standard: s 62/6, Loan and Agency. Dalgety and Co.: b £lO 12/-. National Mortgage (B issue): b 28/-. Wright, Stephenson and Co. (ord.): b 13/6, s 15/-. Meat Companies. New Zealand Refrigerating (20/paid): b 19/6; (10/- paid): b 9/6, s 9/9. Southland Frozen Meat (£1 ord.): b 54/-; (10/- ord.): b 27/6; (£1 pref.): b 54/-. South Otago Freezing Co.: b 105/-. Mining. Upper Shotover (9d paid): b 1/3, s 1/6. Electrolytic Zinc (ord.): b 24/6. Gillespie’s Beach: s 2/31. Waitahu: b 7/3, s 7/9. Kildare: s 2/4. King Solomon: b 3/2J, s 3/5. Mount Lyell: b 24/-. Okarito: b 10/6, s 10/11. Waihi Gold Mining: s 27/6.

Waihi Grand Junction: b 4/4. Freshford: b 6d, s Bd. Nokomai: b 2/6, s 2/10. Bell Hooper: b 1/-, s 1/OJ. Bell Kilgour: b 1/7J, s 1/9. Shipping. Union Steam Ship Co. (pref.): b 24/-. Woollen Mills. Bruce (ord.): s 8/-. Mosgiel: b £9 2/6. Miscellaneous. British Tobacco (Aust.): b 36/-. D.I.C. (ord.): b 12/-; (pref.): b 21/-, s 24/-. Dominion Fertilizer: b 12/6, s 14/-, Milbum Lime and Cement: b 31/-, s 32/3. New Zealand Drug: b 69/-, s 71/-. New Zealand Farmers’ Fertilizer: b 14/6. New Zealand Guarantee Corporation: b 8/-, s 8/4. New Zealand Paper Mills: b 27/6, s 28/3. Otago Daily Times: b 46/-. Wilson’s (N.Z.) Portland Cement: s 35/-. Debentures. Government Stock, 3| per cent., 1938: b £lOO 5/-. Government Stock, 3J per cent., 1939: b £lOO 5/-. Government Stock, 4 per cent., 1940: b £lOl 2/6. Government Bonds, 4 per cent., 1940: b £lOO 2/6. Government Stock, 4 per cent., 1946: b £lOO 15/-. Government Bonds, 4 per cent., 1946: b £lOO 15/-. Government Stock, 4 per cent., 1949: b £lOl 10/-. Government Bonds, 4 per cent., 1949: b £lOl 10/-. Government Stock, 4 per cent., 1955: b £lOO 15/-. Government Bonds, 4 per cent., 1955: b £lOO 15/-. Sales. King Solomon, 3/3J, 3/4. Gillespie’s Beach, 2/3. Bell Hooper’s, New Zealand Guarantee Corporation, 8/2.

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, October 5. Sales on ’Change: Commercial Bank of Australia 16/9; E.S. and A. Bank £5 19/-; Bank of New South Wales £34 12/6; Bank of New Zealand 47/6, 47/3, 47/9, 48/-; N.Z. Insurance 54/3; Queensland Insurance 56/6; N.Z. Guarantee Corporation 8/1; Northern Steam con. 2/-; P. and O. Deferred 24/-; N.Z. Breweries 27/9; Staples Brewery 27/9, Bycroft Ltd. 39/-; Con. Brick and Pipe 5/9; Electrolytic Zinc pref. 34/3; Farmers Fertilizer 16/-; N.Z. Refrigerating (£1 paid) 19/10, ditto (10/- paid) 9/7; Gillespie’s Beach 2/3; Kildare 2/3J; King Solomon 3/4; Waihi 26/3, 26/2; Waihi Junction 4/5; Freshford 6d; Mt. Lyell 24/2, 24/3, 24/4 (2); Bonds 1940, 4 per cent. £lOl 10/-; Bonds 1946, 4 per cent. £101; Bonds 1949, 4 per cent. £102; Stock 1940, 4 per cent £lOl 7/6; Stock 1946, 4 per cent. £101; Amalgamated Brick Debentures (Auckland) £92. Unofficial: Snowy River 4Jd. Wellington, October 5. Sales on ’Change: E. S. and A. Bank £5 19/6, £6; N.Z. Guarantee Corporation 8/1; N.Z. Insurance 54/6, 54/8; Wellington Gas 34/-; P. and O. deferred 24/-; Waihi 26/-. Christchurch, October 5.

Sales on ’Change: Commercial Bank of Australia 16/8 (2); E. S. and A. Bank £5 19/ (2), £6, £5 19/9; Bank of New Zealand 47/9 (2), 48/-, 48/1 (2); New Zealand Insurance 53/9; Goldsbrough Mort 28/— (3); N.Z. Refrigerating (10/- paid) 9/7, (3); New Zealand Breweries 37/9, 38/-; Tooth’s Brewery 43/3, 43/- (3); British Tobacco 37/4, 37/6; Electro Zinc (ord.) 25/10; Electro Zinc (pref.) (cum div.) 34/4; Mt. Lyell 24/4, 24/3 (5), 24/4 (2); N.Z. Farmers’ Co-op. (41 per cent, stock 1940) £62 10/-; Alexander Mines (13/6 paid) 16/2 (3); Bell Hooper (9d paid) Hid (2), lid (2); Gillespies Beach 2/2; King Solomon 3/3, 3/21 (2); Lawsons Flat 61d (2) 7d; Okarito 10/10 (2); Waihi Gold Mining (cum div.) 26/3; Waitahu 7/6, 7/7, 7/6 (2). Sales reported: Bank of New South Wales £34 15/-; N.Z. Refrigerating (10/- paid) 9/6 (2); British Tobacco 37/4; Mt. Lyell 24/4; Australian Glass 51/71. Dunedin, October 5.

Sale on ’Change; Bendigo Goldlight 7d. Sales Reported: Bank of New Zealand £2 7/6; Commercial Bank 16/10; British Tobacco £1 17/-; Freshford 8d; Bendigo Goldlight 7d; Nevis Diesel 9d; Waitahu 7/7.

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. WINTON STOCK SALE. EWES AND LAMBS IN DEMAND. GOOD DAIRY COWS KEENLY SOUGHT. (From Our Correspondent.) A keen inquiry for ewes and lambs and good dairy cows was a feature of the fortnightly stock sale at Winton yesterday, when approximately 500 sheep (including from 70 to 100 fats) and 50 head of cattle were penned. The prices secured were much on a par with previous sales. There was not a large attendance present. In the fat sheep section best wethers made from 24/- to 26/3, with lighter sorts down to 21/-. Fat ewes made from 18/- to 20/-, ewe hoggets from 19/2 to 22/3, and wether hoggets to 16/1. Ewes and lambs realized from 6/6 to 8/6 (all counted), while a small pen of ewes and lambs met with spirited competition and changed hands at 12/6 (ill counted).

In the cattle section fat cows made to £4 17/6, and fat bullocks from £4 to £6. Gocd dairy cows made from £6 to £8 If/-, while poorer sorts were extremely difficult to dispose of at prices in the vicinity of £2.

DAIRY PRODUCE PRICES. The Nev Zealand Loan and Mercantile Agency Company, Limited, advise having received the following cabled advice fron their London office: Butter 100/-, 102/-. Very slow. Cheese, white 50/-, coloured 49/-, 50/-. Very slow.

SYDNEY STOCK EXCHANGE. AN ANIMATED MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8.20 p.m.) Sydney, October 5. On the Stock Exchange to-day tire market was exceedingly animated, reflecting the tax cuts and the improvement in the financial outlook. A slight reactioning trend here and there was due to some sellers willing to take profits, but the market on the whole retained a very firm, confident tone. Sales:—

ADELAIDE QUOTATIONS. (United Press Assn—Telegraph Copyright.) (Rec. 9.20 p.m.) Adelaide, October 5. Wheat—Growers’ lots 2/6J to 2/7J. Flour—Bakers’ lots £7 14/-, Bran and Pollard—-£5 2/6. Oats—Algerian 2/1.

SYDNEY PRODUCE MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.20 p.m.) Sydney, October 5. Wheat—The market is easier owing to a weaker tone overseas. Bagged is nominally 2/10 and bulk 2/9 ex trucks, Sydney, but there is no demand. Potatoes —Tasmanian £5 10/-; Victorian £4 10/-. Onions—Brown Spanish £4 10/-. Maize—Yellow and white 4/-. Flour—£9 5/-. Bran and Pollard—£s 10/-. LONDON WOOI, SALES. (United Press Assn.—Telegraph Copyright.) London, October 4 At the wool sales 11,452 bales were offered including 5182 from New Zealand. About 8190 were sold with good competition at full rates for all good Merinos but inferiors and crossbreds displayed an easier tendency with some withdrawals. Merinos greasy, New South Wales, 14Jd; Queensland 15Jd; Victorian 19£d. Scoured, Queensland, 28d; South Australian, 24d; New Zealand “Oxford” top, 23z d, average 22J d; New Zealand greasy crossbred “Whekau” lljd and 9d. SYDNEY WOOL SALES. MARKET VERY FIRM. (United Press Assn.—Telegraph Copyright.) (Rec. 10.25 p.m.) ... Sydney, October 5. At the wool sales 12,722 bales were offered and 10,450 sold also 1126 which were disposed of privately. The market was very firm at the previous day’s levels for all descriptions. Competition was well sustained and good clearances were made. There was a very keen inquiry for comebacks and crossbreds at late rates. Greasy Merino made to 22d for eight bales from Gurley.

THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 9.20 p.m.) London, October 4. Metal quotations are as follows:—

RETAIL PRICES OF NEW ZEALAND MEAT IN LONDON. The New Zealand Meat Producers’ Board has been advised by its London manager, that the following retail prices were being quoted for New Zealand lamb and mutton retailed in London during September, 1933. These prices represent a fair average of the prices quoted by the better class shops in London for the best quality of N.Z. lamb and mutton: — New Zealand Lamb.—Legs 12d per lb, shoulders lOd, loins 9Jd, necks 6d, breasts 3d, forequarters 7Jd, hindquarters 10£d. New Zealand Mutton (Wethers). — Legs BJd, shoulders 7d, loins 7d, necks 4d, breasts 2d.

BRITISH WAR LOAN. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, October 4. The War loan 31 per cent, issue is quoted at £lOl 5/-. FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, October 4. The following rates of foreign exchanges are current to-day compared with par:— Tjr» nrL-i Adr

DOLLAR QUOTATION. (United Press Assn.—Telegraph Copyright.) London, October 4. The dollar is quoted at 4.77. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, October 4. The price of gold is quoted at £6 14/- per ounce.

Per Ton £ s d Flour— 14 12 200’s 0 100’s 15 7 0 50’s 15 12 0 25’s Wheatmeal — 15 17 0 200’s 13 12 0 100’s 14 7 0 50’s 14 12 0 25’s Bran — 14 17 0 150’s and 200’s 5 10 0 100’s Pollard — 5 15 0 150’s and 200’s 7 0 0 100’s 7 5 0

£ s d Bank of New South Wales 34 12 6 Commercial Bank of Sydney 18 10 0 Bank of Australasia 13 10 0 National Bank (£5 paid) 6 12 0 Queensland National Bank 5 16 6 Colonial Sugar 59 17 6 Bank of New Zealand 2 9 0 Associated Newspapers 1 0 0 Associated Newspapers (pref 19 71 Adelaide Steam 1 5 0 Howard Smith 14 11 Bums Philp 2 13 0 British Tobacco 1 17 6 Tooth’s 2 3 3 Tooth’s (N.Z. delivery) 2 3 3 Toohey’s 1 5 1-1 Toohey’s (N.Z. delivery) 1 5 6 Toohey’s (N.Z. delivery) 1 5 71 Dunlop Perdriau 18 101 Goldsbrough Mort 1 9 3 Dalgety’s 11 5 0 Winchcombe Carson 1 8 6 Millaquin Sugar 1 9 0 Fairymead Sugar 1 10 0 Electrolytic Zinc 1 6 3 Morris Hedstrom 19 101 Greater J. D. Williams 8 9 Carlton Brewery 2 2 3 Lustre Hosiery 16 9 David Jones 1 16 0 Farmers 16 0 Anthony Horden 12 6 Hume Pipes 14 0 Meggitt’s 1 3 0 Australian Iron and Steel (pref.) 18 6 Standard Cement 17 11 Goodlet and Smith 1 0 0 Mt. Morgan 2 8 0 Bulolo Gold 4 18 3 Bulolo Deposits 1 11 Kuala Kampar 9 11 Broken Hill Pty. 2 1 8 Mt. Lyell 1 4 0 Melbourne Sales. Howard Smith 14 11 Herald and Times 2 3 6 Goldsbrough Mort 1 9 41 Electrolytic Zinc 1 6 0 Mt. Lyell 1 4 0 North Broken Hill 4 8 6

Oct. 3. Oct. 4. £ s. d. £ s. d. Copper, standardSpot 35 4 4J 34 18 9 Forward ■ 35 8 9 35 3 14 Copper, electrolytic— Spot 38 10 0 38 5 0 Forward 39 0 0 38 10 0 American — 9 cents Wire Bars Lead39 0 0 38 10 0 Spot 11 18 9 11 18 9 Forward Spelter— 12 6 3 12 6 3 Spot 16 13 9 16 12 6 Forward Tin17 1 3 17 0 0 Spot 221 3 9 221 17 6 Forward Silver (pence)— 221 2 6 221 16 3 Standard 18 516 18 5-16 Fine 19? 19.3 !

Par. To-day Paris, fr. 124.21 78 23-32 New York, dol. 4.866 4.76J Montreal, dol. 4.86G 4.851Brussels, belga 35.00 22.10J Geneva, fr. 25.22 15.89 Amsterdam, fr. 12.10 7.634 Milan, lira 93.46 58 11-16 Berlin, r.m. 20.42 12.934 Stockholm, kr. 18.159 19.40 Copenhagen, kr. 18.159 22.40 Oslo, kr. 18.159 19.90 Vienna, sch. 34.585 284 nom. Prague, kr. 20.02 103J Helsingfors, mark 124.23 2264 Madrid, kr. 15.225 36 27-32 Lisbon, escu 44 102 Athens, dr. 370 560 Bucharest, lei. 25.525 5224 Belgrade, kr. — 225 Montevideo, dol. 45.57d 37 nom. Buenos Aires, dol. 45.57d 45J Rio de Janeiro, mil. 4.898 4| Bombay, rupee — 18 5-64 Shanghai, tael — 15 7-16 Hong Kong • ' —- 17j Yokohama, p. to yen 24.582 14 3-16