COMMERCIAL

Southland Times, Issue 22157, 27 October 1933, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS. > Times Office, | Friday Morning. Grain and Produce. j Oats.—This market is reflecting a considerably brighter tone. There has been a fair amount of inquiry from most of the northern ports and a number of sales have been effected. There are not now many offerings from the country, but the price to farmers remains the same, namely, 1/3 per bushel for A grades, and 1/- for B’s. , Wheat. —Practically all of the milling ! wheat has been cleaned up, and with: the improved shipping demand for fowl I wheat a large portion of this quality lias also been cleared. The value to farmers for good whole fowl wheat runs out at 2/6 per bushel, on trucks ; country stations. Chaff.—There is practically no ship- [ ping demand and merchants have to 1 rely on the local market to unload their purchases. The supplies offering by farmers are fully sufficient to meet the demand. Good, bright quality is bring- | ing farmers up to £2 5/- per ton, on | trucks, country stations. Lower grade j is not in demand. , . . I Ryegrass.—There is steady inquiry ■ for good quality machine-dressed seed of high germination for shipment Home, | and probably all the surplus stocks will I be disposed of in this way. Most farm- , ers’ lines have now been sold, but any I good quality lines still available will ; be worth up to 2/6 per bushel, on i trucks, country stations. There is also good inquiry for Italian at the same ; figure. , , Potatoes.—The market is very de-| pressed, and it appears that most of the , markets throughout New Zealand are in a glutted state. There is very little interest being shewn in the local market and it is probable that farmers will find difficulty in selling at better than 30/- per ton.

Fruit and Vegetables.

Apples are now in short supply and prices are firming. The majority of the lines coming to hand are from cool store, prices ranging from 9/- to 12/6 for choice Stunners, 10/- to 12/- for Delicious, and 8/- to 9/6 for other varieties.

There are very few pears coming forward, but those available are realizing from 5/- to 6/- per box. The largest shipment of oranges so far this season arrived ex the Wainui. They comprised Navels and Valencias, the former probably constituting the final shipment of this variety this year. There has been a good demand with pirces ruling about the same as for last shipment. A shipment of Samoan and Niue Island bananas is expected to arrive in Invercargill ex the Maui Pomare on Wednesday next. The demand was very keen as the consignment arrived on a bare market. Hothouse tomatoes are arriving m fair quantities and are realizing 1/6 to 1/8 for firsts, with seconds and thirds Californian grapes are available and selling at moderate rates. Vegetables are fairly plentiful. Cauliflowers and cabbages are firming in price. Green peas and new potatoes are available from the north. Cabbages realized 3/- to 5/-, cauliflowers, 3/- to 6/-; asparagus, 4/- to 6/-; green peas Gd to 8d per lb; potatoes, 2Jd per lb; rhubarb, l.jd to ljd per lb; lettuce, 1/to 2/9 per dozen.

CURRENT PRICES. Wholesale. Eggs, lOd. Bacon, 91d. Bran, £5 15/-. Butter, factory, 1/1|; separator, Bd. Flour, £l4 12/- to £l5 17/-, Oatmeal, £l6 to £2l. Retail. Eggs, 1/-. 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. Late cables from London advise a further sharp advance in the price of tartaric acid. The market for this line has been steadily advancing and is now 30/- per cwt. in advance of prices prevailing in January last. From information received by cable from London, prices of new season’s tinned herrings will be advanced in price. Cables received this week from Colombo and Calcutta advise \ a strong market for medium and common grade teas. Prices continue to firm steadily. The sago and tapioca market is again unsettled. Sago prices declined three-

pence per cwt. while tapioca remained firm. . . .

The market for Rangoon rice is inclined to be weak. Prices for Novem-ber-December shipment are threepence per cwt. lower than to-day’s price. March-April shipment which is new crop will be a further threepence down.

THE STOCK MARKET. There was a much smaller entry of store cattle at Lorneville on Tuesday, but all other sections had representative entries forward. The entry of fat sheep consisted chiefly of good quality ewes, there being a very small proportion of wethers yarded. Competition was confined to the butchers with the result that prices were not nearly as good as those of the previous week, and values showed an easing tendency of fully 2/- per head for good quality wethers and fully 2/6 per head for ewes. There were quite a few pens of lambs offered, these meeting with a good demand, with the result that satisfactory prices were realized for good quality sorts. The quality of the fat cattle was much better this week, there being some exceptionally good heavy bullocks and very prime quality heifers and cows forward. The remainder of the yarding was of the usual medium and unfinished sorts. Competition was fairly keen and at the close of the sale the market firmed slightly, but taken all over, values were a shade firmer than those at the previous sale. The entry of store cattle consisted of a few pens of 2 and 3-year-old steers, yearling heifers and empty cows, these being disposed of at present ruling prices. ... Ewes and lambs comprised the mam entry in the store sheep section. They met with a good demand and very' satisfactory prices were obtained. The following is a range of prices ruling at Lorneville at the present time:— . Fat Cattle.—Extra prime quality heavy bullocks £9 10/- to £lO 10/-; prime quality £8 5/- to £9 5/-; prime medium weights £6 15/- to £7 15/-; lighter sorts from £5 10/- to £6 10/-; extra prime quality heavy heifers £8 10/- to £9 15/-; prime quality £6 15/- to £8; lighter sorts £5 to £6 5/-; extra prime quality heavy cows £7 10/- to £8 10/-; prime quality £6 5/- to £7 5/-; medium weights £4 15/- to £5 10/-; aged and inferior sorts down to £2 10/-. Fat Sheep.—Prime heavy woolly wethers 28/- to 29/6; prime quality 26/- to 27/6; medium 23/6 to 25/6; light and unfinished down to 20/-; good quality shorn wethers 21/- to 22/-; prime quality woolly ewes 20/6 to 22/6; medium 18/- to 19/-, with inferior down to 14/6; good quality lambs 22/6 to 24/-; medium weights 18/- to 20/-, lighter sorts down to 14/-. Store Cattle.—2 and 3-year-old steers from £2 10/- to £4 17/6; yearling heifers £1 5/- to £1 15/-; good fresh conditioned empty cows £1 10/- to £2 5/-- lighter and aged sorts from 10/to 25/-. , , Store Sheep.—Good sound mouth ewes and lambs (all counted) realized 13/8. Good full and failing mouth ewes and lambs from 7/- to 12/6, according to condition.

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Banks, Commercial: b 16/9, s 17/2. E.S. and A. Bank: b 116/-. National of Australasia (cont.): b £6 14/-. National of New Zealand: s 84/6. New South Wales: s £34 5/-. New Zealand: b 46/-. Union of Australia: b £lO 7/-. Breweries. Staples’ Brewery: b 28/-. Coal. Westport Coal: s 14/-. Westport Stockton (ord.): s 9d. Insurance. New Zealand: b 54/4. Standard: s 61/6. Loan and Agency. Goldsbrough, Mort and Co.: b 28/9. National Mortgage: b 53/-. N.Z. Loan and Mercantile (ord.): s £65. Wright, Stephenson and Co. (pref.): b 14/9. Meat Companies. N.Z. Refrigerating (20/- paid): b 19/6; (10/- paid): s 9/5. Southland Frozen Meat (£1 ord.): b 54/-; (10/- ord.): b 28/-; (£1 pref.): b 54/-. South Otago Freezing Co.: b 93/-. Mining. Big River: s 1/7. Electrolytic Zinc (ord.): b 20/3, s 26/3. Gillespie’s Beach: b 2/—; s 2/3. Waitahu: b 6/3, s 6/6. Kildare: b 2/-, s 2/4. King Solomon: b 3/3, s 3/4. Mount Lyell: b 22/-. Okarito: b 10/1, s 10/5. Paddy’s Point: b 5/-, s 5/4. Waihi Gold Mining: b 25/9. Bell Hooper: b 1/-, s 1/OJ. Bell Kilgour: b 1/6, s 1/8. Nokomai: b 2/9, s 3/-. Upper Shotover: b 1/5. Shipping. Union Steam Ship Company (pref.): b 24/-. Woollen Mills. Bruce (ord.): b 8/-. Mosgiel: b £9 5/-. Miscellaneous. Colonial Sugar: b £59. D.I.C. (ord.): b 13/-. Dominion Fertilizers: b 13/-, s 14/3. Donaghy’s Rope and Twine: b 41/6. New Zealand Drug: b 70/-, s 71/-. N.Z. Farmers’ Fertilizers: s 16/-. N.Z. Guarantee Corporation: b 8/4. New Zealand Paper Mills: s 28/6. Otago Daily Times: b 45/3. Debentures. Government Stock, 3J per cent., 1938-52: b £lOl 10/-. Government Stock, 3£ per cent., 193952: b £lOl 10/-. Government Stock, 4 per cent., 194052: b £lOl 5/-. Government Bonds, 4 per cent., 1940: b £lOl 5/-. Government Stock, 4 per cent., 1946: b £lOl. Government Bonds, 4 per cent., 1946: b £lOl. Government Stock, 4 per cent., 1949; b £lOO 5/-. Government Bonds, 4 per cent., 1949: b £lOO 5/-. Government Stock, 4 per cent., 1955: b £lOl. Government Bonds, 4 per cent., 1955: b £lOl. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, October 26. Sales on ’Change: Stock 1938-52 3J per cent. £lOl 12/6; Auckland Harbour Board 1961 5J per cent £lO3 5/-; Auckland Hospital Board 1935 5J per cent. £99; Commercial Bank of Aus-

tralia (pref.) £8 15/-; Bank of New Zealand 46/3 (2); South British Insurance (ex. div.) 71/9;' Auckland Gas 23/5, 23/4; Colonial Sugar £6l; New Zealand Drug Co. 70/-; Woolworth’s New Zealand (pref.) 35/-; Golden Dawn 2/2; Waihi 26/1; Waihi Junction 3/11 (2). Unofficial: Investment Guarantee Trust, B £9B; Weres (5/- paid) 4/6. Wellington, October 26. Sales on ’Change: National Bank of New Zealand 83/-; Bank of New Zealand 46/3 (2); late Wednesday 46/3, 46/3; N.Z. Refrigerating contributed 9/5. Dunedin, October 16. Sale on 'Change: Gillespie’s Beach 2/1. Sales reported: New Zealand Paper Mills £1 8/-; D.I.C. (pref.) £1 2/-; Bank of New Zealand £2 6/6; New Zealand Refrigerating (paid) 19/7; Waitahu (2) 6/4. Christchurch, October 26. Sales on ’Change: E.S. and A. Bank £5 13/6; Bank of New Zealand (cum. div.) 46/6; Goldsbrough Mort 29/6; N.Z. Refrigerating (10/- paid) 9/3 (4), 9/4; Electrolytic Zinc (ord.) 25/3, 25/4; Henry Jones Co-op. 37/6; Bell Hooper (9d paid) l/0i (3); Big River 1/5 (2); Golden Dawn 2/3 (2); Okarito 10/3. Sales reported: E. and A. Bank £5 14/6; N.Z. Refrigerating (10/- paid) TF YOU WISH TO BUY OR SELL 1 SHARES, Debentures, Bonds, Stock, etc., COMMUNICATE WITH BROKERS, P.O. BOX 109, Invercargill. NATIONAL INSURANCE COMPANY. A FURTHER DIVIDEND. (Per United Press Association.) Dunedin, October 26. The Director of the National Insurance Company of New Zealand will recommend to the annual meeting the payment of a further dividend of fivepence per share, making the total distribution for the year ninepence per share, equal to £37,500. SYDNEY STOCK EXCHANGE. A BUOYANT MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8.35 p.m.) Sydney, October 26. On the Stock Exchange the market was much brighter to-day with buying activity over a large area of investments. Gold and tin issues also moved up sharply. Commonwealth Bonds were irregular. Sales:—

SYDNEY PRODUCE MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.25 p.m.) Sydney, October 26. Wheat is firmer. Bagged on sidings in the country is quoted at 1/11£ and silo at 1/10J, equal to about 2/6J ex trucks Sydney. Flour—£9. Bran and pollard—£4 10/-. Potatoes—Tasmanian £5; Victorian £3 10/-. Onions —Victorian Brown Spanish to £4; white £ll. Oaten hay—£7 10/-. Maize—Yellow and white 4/-. ADELAIDE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.25 p.m.) Adelaide, October 26. Wheat—Growers’ lots 2/5. Flour—Bakers’ lots £7 5/-. Bran and pollard—£s 2/6. Oats—Algerian 2/1. 9/2J. THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8.25 p.m.) London, October 25. Metal quotations are as follows:—

FOREIGN EXCHANGES. (British Official Wireless). (Rec. 5.5 p.m.) Rugby, October 25. The following rates of foreign exchanges are current to-day compared with par:—

THE DOLLAR QUOTATION. (United Press Assn.—Telegraph Copyright.) London, October 25. . The dollar is quoted at 4.78 i.

PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, O.ctober 25. The price of gold is quoted at £6 10/1 per ounce. DAIRY PRODUCE PRICES. The New Zealand Loan and Mercantile Agency Company, Limited, report having received the following cabled advice from their London office:— Butter—Finest 98/-; firsts 92/-. Very slow. Cheese—White 48/-; coloured 47/-. Market slow. TALLOW SALES. (United Press Assn.—Telegraph Copyright.) London, October 25. At the tallow sales 755 casks were offered and 455 sold, occasionally sixpence dearer.

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

DUIlUb wcic nivguiui. wu.vu £ s. d. Bank of New South Wales 33 15 0 Commercial Bank of Sydney 17 18 0 Bank of New Zealand 2 8 6 Colonial Sugar 61 0 0 Mercantile Mutual Insurance 1 1 6 Australian Provincial Assurance 0 11 10 Associated Newspapers 1 0 9 Associated Newspapers (pref. 1 0 7i Howard-Smith 0 12 8 Burns, Philp (South Seas) 1 12 0 British Tobacco 1 18 6 Berlei (cont.) 0 14 3 Carlton Brewery 2 3 0 Tooth’s 2 3 0 Tooth’s (N.Z. delivery) 2 3 0 Toohey’s 1 4 9 Dunlop Perdriau 19 0 Anthony Hordern 13 2 Anthony Hordern (pref.) 1 2 0 Millaquin Sugar 1 9 0 Electrolytic Zinc 1 6 0 Lustre Hosiery 17 9 Standard Cement 16 6 David Jones 1 15 0 Hume Pipe 13 11 Meggitt’s 1 .1 0 United Provisions 8 2 Kuala Kampar 11 3 Mt. Morgan 2 10 3 Bulolo Gold 5 0 0 Mt. Lyell 1 3 0 South Broken Hill 3 4 9 North Broken Hill 4 7 6 Melbourne Sales. Commercial Bank (pref.) 8 19 0 E.S. and A. Bank 5 13 0 National Bank (£5 paid) 6 14 0 Herald and Weekly Times 2 3 9

Oct. 24. d Oct. £ s 25. d £ s Copper, standardSpot 33 0 0 33 9 41 Forward 33 2 6 33 11 101 Copper, ElectrolyticSpot 36 0 0 36 10 0 Forward 37 0 0 37 10 0 American 7.07 cents 8.25 cents Wire Bars 37 0 0 37 10 0 Lead— Spot 11 10 0 11 18 9 Forward 11 17 6 12 3 9 Spelter— Spot 15 13 9 16 0 0 Forward 16 0 0 16 6 3 TinSpot 222 18 9 223 18 9 Forward 222 16 3 223 13 9 Silver (pence)— Standard 18 1-1G 18 1-16 Fine 19J 191

Par. To-day. Paris, fr. 124.21 80 29-32 New York, dol. 4.866 4.774 Montreal, dol. 4.866 4.851Brussels, belga 35.00 22.74 Geneva, fr. 25.22 16.36 Amsterdam, fr. 12.10 7.85 Milan, lira 93.46 60 1-16 Berlin, r.m. 20.42 13.27J Stockholm, kr. 18.159 19.39J Copenhagen, kr. 18.159 22.40 Oslo, kr. 18.159 19.90 Vienna, sch. 34.585 29 nom. Prague, kr. 20.02 106 5-8 Helsingfors, mark 124.23 226? Madrid, kr. 15.225 37 7-8 Lisbon, escu 4i 105J Athens, dr. 370 560 Bucharest, lei 25.525 540 Belgrade, kr. —— 235 Montevideo, dol. 45.57d 36 nom. Buenos Aires, dol. 45.57d 43J Rio de Janeiro, mil. 4.898 4 3-8 Bombay, rupee — —- 18 3-64 Shanghai, tael *■■"■■■ — 15 5-16 Hong Kong 17 Yokohama, p. to yen 24.582 141