COMMERCIAL

Southland Times, Issue 22296, 11 April 1934, 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 17/3. E.S. and A. Bank: s 115/-. National of New Zealand: b 82/-, s 85/-. New South Wales: b £33 10/-. New Zealand: b 48/6. New Zealand Long “D” issue: b 33/3. Union of Australia: b £lO 2/6; s £lO 7/6. Breweries. Dunedin Brewery Co.: s 27/6. New Zealand Breweries (shares): b 40/-, s 41/-. Coal. Westport Coal: b 14/9, s 15/3. Westport Stockton (ord.): b 1/6; 8 per cent, non-cum pref.: b 3/3. Insurance. National: b 18/10. New Zealand: b 58/-. Standard: b 60/-, s 61/-. Loan and Agency. Dalgety and Co.: b £lO 6/-. Goldsbrough, Mort, and Co.: b 33/-, s 31/-. National Mortgage: “B” Issue: b 30/-. Wright, Stephenson and Co. (ord.): b 19/-; (pref.): s 19/-. Meat Companies. N.Z. Refrigerating (20/- paid): b "17/6; (10/- paid): s 8/3. Southland Frozen Meat (£1 ord.): b 63/-. (£1 pref.): b 63/-. Waitaki Freezing Co.: b 40/-; s 70/-. Mining. Big River: s lid. Gillespie’s Beach: s 2/3. Mount David: s 1/2. Kildare: b 1/3, s 1/8. King Solomon: b 3/11. Mount Lyell: b 24/-. Mahakipawa: b sd. Okarito: s 9/6. Waihi Gold Mining: b 34/-. Waihi Grand Junction: s 4/11. Skippers (9d paid): b lid, s 1/-; (1/- paid): b 1/21, s 1/2. Moonlight Nelson: s 1/1. Mount Morgan: s 21/3. Nokomai: b 1/10, s 2/3. Central Shotover: b 9d; s 1/01. Bell Kilgour: b 7d, s 9d. Bell Hooper: b lOd, s 1/-. Bendigo Goldlight: s 81d. Nevis Diesel: b 74d, s lOd. - Upper Shotover: s 2/-. Woollen Mills. Bruce: s 10/6. Kaiapoi (ord.): s 11/-; (pref.): b 17/3. Mosgiel: b £9 15/-. Miscellaneous. British Tobacco (Aust.): s 37/9. Colonial Sugar Co.: b £64 10/-. D.I.C. (pref.): b 22/9. Dominion Fertilizers: s 18/3. Dominion Rubber Co.: s 19/6. Donaghy’s Rope and Twine: b 47/6. Dunlop Rubber (Aust.): b 19/6. McLeod Bros.’ Soap: b £2B. Milbum Lime and Cement: b 31/6, s 32/6. N.Z. Guarantee Corporation: b 3/10. New Zealand Paper Mills: b 30/-. Otago Daily Times: b 46/6. Wilson’s (N.Z.) Portland Cement: b 25/-, s 26/-. Debentures. Government Stock, 31 per cent., 193852: b £lO2 5/-. Government Stock, 31 per cent., 193952: b £lO2 5/-. Government Stock, 4 per cent., 1940: b £lO2 10/-. Government Bonds, 4 per cent., 1940: b £lO2 10/-. Government Stock, 4 per cent., 1949: b £lO3 5/-. Government Bonds, 4 per cent., 1949: b £lO3 5/-. Government Stock, 4 per cent., 1955: b £lO2. Government Bonds, 4 per cent., 1955: b £lO2. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, April 10. Sales on ’Change: Bonds 1949, 4 per cent. £104; Bonds 1955, 4 per cent, £102; Stock 1946, 4 per cent, £102; Makarua Drainage Board 1946, 6 per cent £102; Bank of New Zealand 48/8 (2); Union Bank £lO 3/-, £lO 3/6; South British 76/6; Auckland Gas (con) 18/-; Colonial Sugar £64 15/-, £65 (3); Electrolytic Zinc (ord) 26/9; New Zealand Farmers’ Fertilizer 17/-; Wilson’s Cement 26/- (2); Waihi 32/9; Waihi Junction 4/8; Mount Lyell 24/3; Mahakipawa 4d; Talisman Dubbo 9/-; Skippers (9d paid) lid. Unofficial list: Sun Newspapers 4/10. Wellington, April 10. Sales on ’Change: Inscribed Stock 31 per cent. 1938-43, £102; 4 per cent. 1940, £lO2 15/-; 4 per cent, 1949, £lO3 5/-; 4 per cent. 1955, £lO3 (late Monday), £103; Bank of New Zealand, 48/6 (2), 48/6; Guarantee Corporation 4/4; Farmers’ Fertilizer 17/1. (both late Monday); King Solomon 4/2; Mahakipawa 6d (2); Skippers (1/- paid) 1/3 (late Monday) 1/3 (2); (9d paid) lid. Christchurch, April 10. Sales on ’Change: New Zealand Government Inscribed 4 per cent. 1940, £lO3 5/-; Bank of Australasia, £l2 19/-; Commercial Bank of Australia 16/11; National Bank of Australia (£5 paid), £6 8/-; Bank of New Zealand, 48/6; Westport Stockton Coal (pref.) 3/4, 3/2; Tooth’s Brewery 43/3 (2); Anthony Hordern 15/9 (2); Colonial Sugar £65; Dominion Fertilizer, 18/-;

Mt. Lyell 24/- (2); Bell Hooper (1/paid), 9jd; Bell Kilgour 7£d; Brian Boru 40/6, 40/3; Gillespies Beach 1/11 (2); Glenroy (9d paid), 9Jd; Goldfields Dredging, 1/-; King Solomon 4/2; Maerewhenua 1/-; Mahakipara, sid (6); Nokomai 1/9 (4); Rawang Tin (cum div.), 9/- (3), 8/11J (2); Waitahu 4/9; Skippers Ltd (1/- paid), l/2i; Skippers Ltd (9d paid) lid. Sales reported: Bank of New Zealand 48/8; Union Bank of Australia (late sale 9th), £lO 6/-; Goldsbrough Mort 33/4; New Zealand Refrigerating (10/- paid) 7/10; Timaru Brewery (7/6 paid) 5/1; Colonial Sugar £65 5/-; New Zealand Paper Mills 31/-; Wilson’s Cement 26/-; Glenory Gold (9d paid) 9id; Mahakipara sd; Mahakipara (pref.) 9d; Waihi 35/-; Waihi Grand Junction, 4/9; Skippers Ltd. (1/- paid) 1/3 (2); Skippers Ltd. (9d paid), lid, ' Dunedin, April 10. Sales on ’Change: Dominion Fertilizer 18/-. Sales reported: Goldfields Dredge lid; Waihi 35/-; Waitahu (late Monday) 4/9. Unlisted: Anthony Hordern 15/11.

The Upper Ahaura Gold Dredging Company Limited proceeded to allotment on March 28. Copies of the prospectus have been filed with the Wellington Stock Exchange and sent to all Stock Exchange members throughout New Zealand. Applications for listing W’ill be made in due course.* LORNEVILLE STOCK SALE. LARGE Y’ARDINGS FORWARD. In practically every section at the Lorneville stock sale yesterday increased yardings were forward, the sale amounting to a double one following the Easter holidays. There was a fair demand all round, but owing to the large supply available prices were easy compared with late ruling rates. There were only a few pens of fat wethers forward and these showed an improvement on recent values. Following is a comparative table of yardings for the past two sales:— April 10 March 27 Store cattle 163 170 Fat cattle 230 127 Store sheep 2700 3330 Fat sheep 2206 1779 Yesterday’s yardings included 1078 fat lambs, 15 vealers, 2 dairy cows, and 4 bulls. Fat Sheep.—There was a big yarding of ewes, including a great many indifferent animals, but there were only a few wethers penned. The top price for wethers was 28/-. Medium sorts sold from 24/6 to 26/-, lighter down to 23/-. The top price for fat ewes was 16/-, with medium freezing ewes realizing 13/- to 14/-, lighter down to 12/-. Fat Lambs.—The quality of the fat lamb yarding in the main was not of the best, but any good sorts sold well up to schedule. Prime heavy lambs sold up to 26/-, medium freezing lambs from 23/6 to 25/-, and lighter down to 21/6. Store Sheep.—There was quite a good entry of store sheep, but as there were no outstanding lines offered, prices were similar to the previous sale. The bulk of the yarding was comprised of full and failing mouthed ewes and any showing signs of fair mouths met with a good enquiry. Old ewes were hard to quit but the total yarding was cleared at auction. The top price for two-tooth ewes was 34/for a nice line of 200. Four and six tooth ewes made 22/6 and a line of sound mouth ewes, from Ruapuke Island, made 26/-. Good, fresh, full and failing mouthed ewes sold up to 16/1, lower conditioned sorts, but quite suitable for rearing another lamb, sold from 11/- to 13/6, while, old, thin ewes made from 5/6 to 8/6. Store Lambs: There was a keen demand for good store lambs and one pen which had been three weeks in feed made 20/-, others sold from 16/6 to 19/1. There were no good ewe lambs yarded but one pen made 22/and a pen of culled ewe lambs realized 16/3. Store Cattle.—There was a full yarding of store cattle, but most of the entries consisted of empty cows and heifers with an odd pen of good three and four-year-old steers. A nice line of the latter was sold at £5 5/-, while another pen was passed in at £4 17/6. Good empty cows in fair condition made up to £2 6/-, and average sorts from £1 10/- to £1 16/-. Empty heifers made from £1 15/- to £2 10/-. A small pen of 18 month to two-year-old steers realized £3 5/-. The entry in the dairy section was negligible and the demand was poor. Fat Cattle: The fat cattle yarding was of mixed quality, a lot of cows of inferior quality being forward, but there were a few pens of good bullocks The supply, however, more than satisfied the demand and passings were not infrequent. Considering the yarding the sale was quite good. Values showed a decline on last sale, the reduction being more noticeable among the cows and heifers. Best bullocks made up to £7 17/6, medium weights £5 10/- to £6 10/-, and lighter down to £4 15/-. Best heifers made to £5 10/-, medium £3 15/- to £4 5/- and lighter down to £3. Best cows realized to £4 10/- and medium £2 10/to £3 5/-. McNAB STOCK SALE. There was a moderate entry for the fortnightly McNab stock sale yesterday. There was a large percentage of old breeding ewes suitable for dairy farmers’ requirements and they met with a very keen demand. Young sorts were scarce, but sound-mouths made up to 21/1, full and failing-mouths to 15/10 and poor sorts down to 11/8 with failers from 7/7 to 13/-. Two-tooths made 32/-, only one pen being offered. Wether lambs sold up to 15/9. Fat bullocks realized up to £7 with medium quality down to £4 and heifers from £3 10/- to £4 10/-. Sales were as follows:— National Mortgage and Agency Co., Ltd.—2l fat ewes 14/3, 34 4, 6 and 8-th ewes 24/2, 33 2-th ewes 32/-, forward wether 23/6, 36 f.m. ewes 8/1, 55 f. and f.m. ewes 13/3. 110 do. 13/4, 36 f.m. ewes 10/6, 71 s.m. ewes 21/1, 80 f.m. ewes 7/7, 85 f. and f.m. ewes 15/10, 116 f.m. ewes 12/-, 115 do. 12/-, 117 f. and f.m. ewes 11/8, 120 f.m. ewes 10/2, 58 do. 12/-, 18 m.s. calves 25/-. Southland Farmers’ Co-op., Assn., Ltd.—l 4 fat ewes 14/6, 38 cull lambs 11/10, 190 wether lambs 15/9, 75 f. and f.m. ewes 13/4, 23 f.m. ewes 10/4, 56 do. 11/9, 70 do. 11/6, 134 f. and f.m. ewes 13/4, 106 s.m. ewes 16/3, fat heifer £4 10/-, do. £3 10/-, 2 fat bullocks £7, 3

do. £6 2/6, 1 do. £6 10/-, do. £5 5/-, do. £4, store 30/-. Wright, Stephenson and Co., Ltd.—6 fat ewes 14/6, 42 f. and f.m. 11/6, 47 do. 15/4, 118 f.m. ewes 11/6, 24 do. 5/2. J. E. Watson and Co. Ltd.—l4o f. and f.m. 14/1 (in conjunction with J. G. Ward and Co., Ltd.), 48 f.m. ewes 11/-. GRAIN REPORT. Messrs Donald Reid & Co. Lid. report as follows: Wheat: The fine weather enabled farmers to go ahead with threshing operations and in consequence, numerous samples were offered during the week. In a number of cases, the grain has deteriorated through being in stook too long. The millers are, however, accepting- practically all offerings at ruling rates, viz, 3/6 for Tuscan, 3/8, Hunters; and 3/10, Pearl: sacks extra, f.o.b. Dunedin. Fowl wheat is still being obtained from northern, centres, and values remain on a par with those ruling during the last few weeks. Exstore prices range from 3/3 to 4/-; sacks extra, according to quality and quantity required. Oats: There is little to enthuse over in this market. The damp weather affected the quality of the grain and what promised to be a good season [or best quality has now undergone a complete change, and the bulk of offerings are hardly up to B grade standard. A grade have hardened in value in consequence, and are to-day worth 1/10 per bushel to the farmer —the trucking within a reasonable distance of the oatmeal mills. One shilling and eightpence is the price being paid for heavy slightly discoloured lines that fail to make the A standard. Undergrade are worth up to 1/5, sacks being extra in each case. All quotes on truck at farmers’ delivery stations. Chaff: There is more chaff available than can be dealt with at present and fair quantities of all grades are held in store. Best oaten sheaf is worth up to £4 5/- per ton ex store, sacks extra. Other grades from £3 10/- to £4; sacks extra ex store. Potatoes: Growers are taking advantage of the fine weather to dig any lines that show signs of being affected by blight. Consequently there has been quite a rush of consignments and the stores have a well stocked appearance much earlier than is usual. Prices have declined and lines arriving are worth from £3 15/-, to £4 5/ex truck, Dunedin, according to quality. It is now apparent that the bulk of the crops will be more or less affected by blight, especially so in the Taieri district. Farmers will have to consider spraying their crops early in the season to combat the blight which is now attacking even the strongest strains. MINING REPORTS. MOUNT LYELL MINING COMPANY. FURNACE BLOW-IN. (Per United Press Association.) Wellington, April 10. The Mount Lyell Mixing Company cabled the Stock Exchange Association of New Zealand to-day as follows: “A furnace blow-in occurred this morning. The refinery will recommence on Wednesday.” BRIAN BORU DREDGING COMPANY. DIVIDEND DECLARED. (Per United Press Association.) Christchurch. April 10. Tire Brian Boru Gold Dredging Company has declared a dividend of a shilling a share. BELL-KILGOUR CO. LTD. The secretary of the Bell-Kilgour Gold Mining Co. Ltd. advises receipt of a report from the manager, dated April 7, reading as follows: The west cross cut from the main drive was advanced 12ft. 6in.; values irregular on a rising floor. N.E. block: Taking panel to east boundary partly through old workings; fair gold was won. S.E. pillar: Finished taking out this block and started timbering for new section. South of SA; Stopped going south and now driving to east boundary. No. 3: Drove 12ft. for a little fine gold. DAIRY PRODUCE MARKET. Messrs A. H. Turnbull and , Company supply the following review of the London dairy produce market:— Butter.—The butter market remained fairly steady throughout the month of March, with only slight fluctuations. During the middle of the month the market seemed firm with a prospect of a rise, but pressure on the part of Continental countries to sell had a quietening effect. Messrs W. Weddel and Co., Ltd. advised us that Danish is being pressed for sale at 62/- f.0.b., equivalent to 85/- landed terms, and Dutch butter is also being pressed at 50/- f.o.b. Our principals advised us, however, that the seasonal reduction in gradings in Australia and New Zealand, and the fact that South Africa has now ceased shipping, should both help the market. The stock position of butter in the United Kingdom is much the same as it was this time last year, and although the Australian and New Zealand butter in store is some 5000 tons greater than last season, the estimate shows the total stocks to be only some 3000 tons greater than at the same time last year. It must be remembered, however, that Australia is holding back from shipment about a month’s gradings, equal to somewhere in the vicinity of 6009 or 7000 tons. Forward Business: A little forward business has been done, more particularly about the middle of the month, at 9d. to 9£d. f.0.b., but with the quieting of the spot market, forward buyers have now practically retired. The Australian Dairy Board has kept their fixed c.i.f.e. price at an equivalent of from B}d. to 8 5-Bd. f.o.b. New Zealand during the month, but buyers have not been found for any great quantity even at this figure. Cheese: The cheese market has been very steady throughout, but like butter, has been rather quiet towards the end of the month, thereby causing stocks in the United Kingdom to accumulate. Buyers are therefore in the meantime acting very cautiously Messrs W. Weddel and Co., Ltd. advise us that they anticipate the usual seasonal increase in consumption shortly, and they are fully expecting a steady market.