COMMERCIAL

Southland Times, Issue 22473, 8 November 1934, Page 2

COMMERCIAL

FINANCE AND TRADE

LOCAL MARKETS. , Times Office, Thursday Morning. Grain and Produce. Oats:—With the exception of occasional orders for shipment there is not much business passing at present. Very few oats are offering from farmers and merchants have to rely upon their store stocks to fill requirements. The value to farmers run about 1/9 for A’s and 1/6 for B’s. Wheat:—Southland fanners have not been very successful in having their wheat accepted by the grader as fit for milling purposes. Very few have passed the grader’s requirements so far, but any that do get through are saleable at the prices fixed by the Wheat Purchase Board. Good whole fowl wheat is worth 3/- o.t.c.s. Chaff:—This market is fairly well supplied. There is no outlet for shipping and the local demand is not large. The value to farmers runs out at £2 10/-, o.t.c.s. Ryegrass:—Apart from farmers’ requirements for seed purposes there is not a great deal of business passing. Current quotations for shipment are approximately 4/- f.o.b. for good quality high germinating seed. The nominal value to farmers ranges from 2/6 to 3/- o.t.c.s. Potatoes:—There is no shipping business and transactions are consigned to the supply of local requirements. King Edwards are in good demand and are worth £3 10/- o.t.c.s. to farmers, but other varieties are neglected and probably the top value would not exceed £2 o.t.c.s. Fruit and Vegetables. The splendid weather of the past week has had much to do with increased activity in the fruit market. All round business has shown a marked improvement and supplies of all classes of fruit and vegetables have barely managed to meet the demand. The final shipment of the year of South Australian oranges arrived during the week and opened up in splendid condition. Stocks were almost all cleared shortly after arrival and unless Victorian samples are admitted to New Zealand there will be no further supplies until the Jamaicans arrive early in December. Prices for the latest shipment ranged from 17/- to 24/-. Bananas are plentiful and selling freely at from 24/- to 27/-. Lemons are now in short compass. New Zealands are realizing from 15/to 17/- and Californians up to 65/-. Apples from cool stores are in demand. Best Stunners are selling at up to 9/6 with second grades 5/- to 6/6. Delicious are bringing 10/6 and Rome Beauty 7/6 to 8/6, Lord Wolseys 6/- to 7/6 and Crabs 5/- to 6/-. Pears are bringing 4/- to 5/- a box, and tomatoes, which are now in good supply, 1/3 to 1/9 a pound. The vegetable market is good, Cauliflowers are on the scarce side, however, and any available are selling from 5/- to 7/6 a dozen. Choice lettuce are realizing 2/6 to 3/6; inferior sorts, 1/6 to 2/-; asparagus, 4/6 to 5/6; spinach, 6d to 1/-; spring onions, 6d to 1/-. General Merchandise. The Union Company advises that the Waimarino, with sugar and general cargo for this district, is scheduled to leave Auckland to-morrow and should reach Bluff about November 17. Australian fruit canners have advised that all varieties of dessert fruit in 2Js are now sold out. A few of the 16oz size are still available. During the week eggs have been in short supply and prices advanced. Prices ruling to-day are from l/_ to 1/2 a dozen. Cables from Singapore advise a reduction of 5/- a ton in the price of seed tapioca. Medium and pearl remain unchanged. Late advice from Colombo states that the tea market again underwent irregular changes. Common kinds were a farthing a pound lower. Mediums and fine grades improved considerably and advanced from three farthings to a penny a pound. Offerings were small and the quality of fair average. Current Prices. Wholesale. Eggs, 1/-. Bacon, IOJd. Bran, £5 5/-. Pollard, £6 15/-. Butter, factory, 9Xd; separator, 6d. Flour, £l4 12/- to £l5 17/-. Oatmeal, £l9 to £23. Retail. Eggs, 1/2. Duck eggs Id less. Bacon, 1/1. Pollard, 8/- per 1001 b. Butter, factory, lid; separator, Bd. Bran, 6/9 per 1001 b. Flour, 25’s 4/6; 50’s 8/9; 100’s 17/-; 200’s 33/6. Oatmeal: 25’s 6/9, 50’s 13/-. Onions: 4d lb. The Stock Market. Entries were small in all sections at the Lorneville sale on Tuesday. The small yarding of fat sheep, consisting mainly of ewes, met with a keen demand, prices being slightly improved on last week. The small number of good quality wethers offered was keenly sought after, resulting in an increase of 1/6 to 2/- a head. Competition in the fat cattle section was rather limited, resulting in lower prices being realized for prime heavyweight bullocks. There was more demand for prime heifers and cows, of which there were some good quality

forward, but prices were fully 10/- below last week. There was an average entry of store cattle, prices showing little variation. The small yarding of store sheep consisted mainly of ewes, prices being firm. One pen of ewes, with particularly forward lambs, brought 17/4. The following is a range of prices ruling at Lorneville at the present time:— Fat Cattle—Extra prime heavy weight bullocks £lO to £11; prime heavy quality £8 10/- to £9 10/-; medium weight £7 10/- to £8 10/-; lighter sorts down to £7; prime heavy weight cows £6 to £7; good quality £5 10/- to £6; medium £4 to £5 5/-; aged and inferior down to £2; extra prime heavy weight heifers £6 10/- to £7 15/-; prime quality £5 15/- to £6 10/- and lighter weights from £4 to £5 15/-. Fat Sheep.—Prime heavy weight shorn wethers 24/- to 25/9; prime medium weights 22/6 to 24/-; lighter down to 21/-. Extra prime heavy woolly young ewes 25/- to 26/-; prime quality 23/- to 24/6; medium 20/- to 22/6; inferior down to 17/-. Prime shorn ewes 18/- to 19/6; poorer sorts 15/- to 17/6. COLOMBO TEA SALE. (Per United Press Association.) Dunedin, November 7. Mr L. M. Wright has received the following cabled report on the Colombo Tea auction of November 6: —“At yesterday’s auction of 1,390,0001 b all grades were Jd to id dearer, the quality of the offerings declining. A total of 1,410,0001 b is catalogued for sale next week.” PYNE, GOULD, GUINESS. SIXTEENTH ANNUAL REPORT. (Per United Press Association.) Christchurch, November 7‘. The sixteenth annual report and bal-ance-sheet of Pyne, Gould, Guiness, Ltd., states the net profit for the year was £43.522, nearly double the amount earned during 1933. The report states thta the . financial position of the company’s clients has much improved, and despite losses written off during the year the reserve against weak accounts remains practically unchanged. After paying £19,200 for interest on A and B perpetual debenture stock, there remains a credit balance for the year of £24,322. The debit balance brought forward last year in profit and loss was £13,94.1, which, after deduction from this year s profit, leaves a credit balance of £10,376 to be carried forward.

THE STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday morning’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Government Debentures. Government Stock, 3J per cent., 193843: b £lOB 10/-. Government Stock, 31 per cent., 193852: b £lO9. Government Stock, 31 per cent., 193943: b £lOB 10/-. Government Stock, 31 per cent., 193952: b £lO9. Government Stock, 4 per cent., 1940: b £lO4 10/-. Government Bonds, 4 per cent., 1940: b £lO4 10/-. Government Stock, 4 per cent., 1946: b £lOB 10/-. Government Bonds, 4 per cent.. 1946: b £lOB 10/-. Government Stock, 4 per cent., 1949: b £lOB 10/-. Government Bonds, 4 per cent., 1949: b £lOB 10/-. Government Stock, 4 per cent., 1955: b £ll3. Government'Bonds, 4 per cent., 1955: b £ll3. Banks. Commercial: s 16/3. Commercial, pref. 4 per cent, (cum.): • b £9 17/6. E.S. and A. Bank: s £5 6/-. National of New Zealand: b 69/6. New Zealand: b 49/-. New Zealand Long “D” issue: s 34/3. Reserve Bank of New Zealand: b £6 12/-.-Breweries. New Zealand Breweries —(shares): b 49/9, s 50/6. Timaru Brewery (con.): b 7/6. Coal. Kaitangata: s 22/-. Westport Coal: b 18/9, s 19/2. Westport Stockton (ord.): s 3/3. Insurance. National: b 21/7. New Zealand: b 69/-, s 70/-. South British: s 91/-. Standard: b 69/-. Loan and Agency. National Mortgage: s 61/-. Wright, Stephenson and Co.—(pref.): b 20/-. Meat Companies. N.Z. Refrigerating—(2o/- paid): b 20/-; (10/- paid): b 9/11, s 10/-. Southland Frozen Meat—(£l ord.) : b 74/6; (£1 pref.), b 74/6. South Otago Freezing Co.: b £6 2/-. Shipping. Huddart-Parker: b 36/-. Union Steam Ship Co. (pref.): b 27/6. Miscellaneous. Associated News: b 25/3. British Tobacco (Aust.): b 41/6. Dominion Fertilizer: b 21/-. ■ Dominion Rubber Co.: s 30/-. New Zealand Drug: b 80/-. N.Z. Farmers’ Fertilizers: s 20/6. N.Z. Gaurantee Corporation: b 5/4, s 5/6. . New Zealand Paper Mills: b 34/6. Otago Daily Times: b 52/-. Wilson’s (N.Z.) Portland Cement: b 33/9. Woolworths (Sydney): s 75/6. Woollen Mills. Bruce: s 14/-. Mining. Bell Hooper: b 3d, s 4Jd. Bell Kilgour: s 2Jd. Bendigo Goldlight: b 9d, s lOd. Broken Hill: s 51/-. Big River: b 1/7, s 1/10. Central Shotover: s BJd. Gillespie’s Beach: b 1/8, s 1/9J. Goldfields Dredging: b lid, s 1/OJ. Kildare: b 2/2, s 2/4. King Solomon: b 3/7, s 3/11. Maerewhenua: s 6d. Nevis Diesel: b 4d, s 4Jd. Nokomai: b 3/8. Okarito: b 8/11. Skippers: b sd. Waitahu: s 3/11.

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, November 7. Sales on ’Change: Bank of New Zealand 49/- (2); New Zealand Insurance 69/-; New Zealand Guarantee Corporation 5/5, 5/6; Renown Coal (pref.) 2/-; Auckland Gas 27/3; Bycroft 53/- (2); British Tobacco 41/7; Farmers’ Trading 7/3; Waihi Junction 4/6. Unofficial: Auckland Trotting Club, 1944, 6J per cent., £105; Silk Nit 33/-. , Wellington, November 7. Sales on ’Change: Reserve Bank £6 12,4-; New Zealand Guarantee Corporation 5/6 (2); Queensland Insurance 74/6 (late Tuesday); Rotoiti Timber 3/3, 3/4J; British Tobacco 41/9 (2), Colonial Sugar (ex. div.) £76; Alexander Mines (con.) 15/7J; Big River 1/8J; Mossy Creek 1/2J. Christchurch, November 7.

Sales on ’Change: Commercial Bank of Australia 15/11, 15/-; Bank of New Zealand 48/9; New Zealand Refrigerating (10/- paid) 9/10; Beath and Co. (1/- paid) 10/3; Colonial Sugar £75, Conrplidpted Brick 10/9; Quill Morris (in liquidation) 3/1 (2); Big River 1/8J; Goldfields Dredging lljd; Mossy Creek 2/2, 2/3; Mount Lyell 19/2; Worksop Extended.(cum- div.) 3/3. Sales reported: Big River 1/9; Bank of New Zealand 49/-, 48/10, 49/-. Unlisted sales on ’Change: Argo Gold (6d paid) 1 1/- (4); Maori Gully (1/paid) 1/5. Dunedin, November 7. Sales tfcon ’Change: New Zealand Breweries 50/- (2); Bell Hooper 3d (2). Sales reported: Bank of New Zealand 49/-; Bank of New Zealand (long D) 33/9; Bell Hooper 3d; Nokomai 3/9.

SYDNEY STOCK EXCHANGE. TRADING SHARES IN DEMAND. (United Press Assn.—Telegraph Copyright.) (Rec. 9 p.m.) Sydney, November 7. On the Stock Exchange to-day there was a good inquiry for shares in city department stores. Dealings in gold shares were restricted and banks were

BURNSIDE STOCK SALE. ENTRIES SMALLER IN MAJOR SECTIONS. . (Per United Press Association.) Dunedin, November 7. Smaller entries of beef and mutton were offered at to-day’s Burnside stock sale. Fat Cattle. —Some extra heavy bullocks and cows were included in the yarding of 213, and these met a market better than that of last week by 15/to £1 per head. Medium cows had an erratic sale at last week’s rates. Values: —Extra prime heavy bullocks, to £l5 12/6; prime heavy, £lO 7/6 to £ll 17/6; prime medium, £9 2/6 to £lO 2/6; light and medium, £7 7/6 to £8 17/6; extra prime cows and heifers, to £lO 7/6; prime heavy, £7 2/6 to £8 7/6; light and medium, £4 12/6 to £6 12/6. Sheep.—The quality of the 1900 sheep entered did not average up to last week’s standard. Medium to good shorn wethers were in better supply and slightly more in favour than woollies. There was a drop in values at the conclusion of the sale, but values generally differed little from last week’s average. Values:—Extra prime heavy woolly wethers, to 34/3; extra prime heavy shorn wethers, to 27/9; medium heavy woolly wethers, 28/- to 30/-; medium heavy shorn wethers, 23/- to 25/-; light and medium woolly wethers, 24/- to 27/-; light and medium woolly wethers, 24/- to 27/-; light and medium shorn wethers, 20/- to 22/6; extra prime heavy woolly ewes, to 29/9; extra prime heavy shorn ewes, to 23/6; prime heavy woolly ewes, 24/- to 26/-; light and medium woolly ewes, 21/- to 22/-. Fat Lambs.—The entry of 100 was barely enough for trade requirements, and on an average last week’s rates were firmly maintained. The top price was 31/-. , Store Cattle—There was an entry of 150, comprising several pens of wellbred steers. The prices obtained for these were fully equivalent to recent markets. The top price was £8 2/- paid, for a pen of four and five-year-old steers, while a pen of well-bred Shorthorn three-year-old steers, in forward condition, realized £7 13/-. Other lines sold from £4 15/- to .£6 6/-. A moderate supply of graziers and cull cows sold firm at late rates. Dairy Cattle.—This section attracted a yarding of mostly indifferent quality animals, and prices showed no change on late low rates. Fat Pigs—The large entry of 163 was penned. Satisfactory prices were obtained at the opening of the sale, but the arrival of several large consignments had a detrimental effect, and values for the first races showed a drop of 5/- to 10/- on the opening rates. Values:—Heavy baconers, to £4; best quality porkers, to £2 14/-. Store Pigs.—The entry of 126 met with keen competition and values were firm throughout. Values: —Large stores, to 32/7; suckers, 14/- to 20/6. WESTPORT COAL COMPANY. DIVIDEND RECOMMENDED. (Per United Press Association.) Dunedin, November 7. The directors of the Westport Coal Company in the report to the shareholders will recommend the payment of a final dividend for the year of 6d a share, payable on November 26, making the total distribution for the year of 1/- a share, equal to 10 per cent. WILSON’S (N.Z.) PORTLAND CEMENT. INCREASED INTERIM DIVIDEND. Auckland, November 7. An increased interim dividend of 7|d a share has been declared by Wilson’s (N.Z.) Portland Cement, Limited. MINING REPORTS. UPPER SHOTOVER RETURN. (Per United Press Association.) Gore, November 7. The Upper Shotover gold mining return to October 31 totals 19 ounces. THE BELL-KILGOUR GOLD MINING CO., LTD. The secretary of the Bell-Kilgour Gold Mining Co., Ltd. (Mr F. R. Thompson) advises receipt of report from the manager, dated November 3, reading as follows: — The south stope drive was advanced 13ft 6in for fair values. No. 2 south branch was advanced 25ft. There are a lot of boulders through the wash, which makes values on the “floor” irregular, but most of the wash carries a little fine gold. At 5C took out a panel for 10ft values became low and then 16ft at 5A for fair gold. For 22ft of blocking out at the east pillar some patches of good gold was won. ... , The cut at Murray s claim was advanced 13ft 6in; the work is going through an old tail race which has been filled up with large boulders. One hundred and thirty-three yards of wash treated yielded 19oz Idwt 15gr. DAIRY PRODUCE. Mr G. Blaxall reports having received the following cable dated November 7 from Messrs Lovell and Christmas Ltd.:—Butter: Finest, 77/- to 78/-; first, 76/- to 77/-. Market: Firm. CheeseWhite, 55/-; coloured, 54/-. Mafket: Firm. The South Island Dairy Association report having received the following advice from the New Zealand Producers’ Co-on Marketing Association under date November 7t—Butter firm. 78/-. Cheese: Steady. White, 54/6; coloured, 53/6 to 54/-. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, November 6 The price of gold is quoted at £6 19/5| per ounce.

neglected. Sales.— & s d Colonial Sugar (ex dividend) 75 0 0 New Zealand Insurance 3 11 0 Tooth’s 2 12 0 G. J. Coles 2 10 6 Australian Glass 2 16 3 Dunlop Perdriau 1 0 Goldsbrough Mort 1 11 9 Winchcombe Carson 1 9 6 Farmers 1 7 3 Anthony Hordern Australian Iron and Steel 17 0 (pref.) 1 3 0 Automatic Totalisators 1 0 6 General Industries 13 4 Mt. Morgan 1 15 3 Broken Hill Pty. 2 10 6 Bulolo Gold 8 8 3 Placer Development 24 5 0 Melbourne Sales. E.S. and A. Bank 5 3 0 Australian Glass 2 16 0 Gordon and Gotch 2 5 6 Howard Smith 15 9 British Tobacco 2 2 0 Metropolitan Gas 14 9 0 Mt. Lyell 19 0