COMMERCIAL

Southland Times, Issue 22487, 23 January 1935, Page 2

COMMERCIAL

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S TRANSACTIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted:— Government Debentures. Government Stock, 3} per cent., 193843: b £lO6 2/6. Government Stock, 3J per cent, 193852: b £lO6 2/6. ' .Government Stock, 3} per cent., 1939- '-. - 43: b £lO6 2/6. Government Stock, 31 per cent, 193952: b £lO6 2/6. Government Stock, 4 per cent., 1940: . b £lO2 10/-. - Government Bonds, 4 per cent, 1940: b £lO2 10/-. . Government Stock, 4 per cent., 1946: b £lO6. Government Bonds, 4 per cent., 1946: b £lO6. Gover?~nent Stock, 4 per cent., 1949: b £lO6 10/-. * Government Bonds, 4 per cent., 1949: b £lO6 10/-. Government Stock, 4 per cent., 1955: b £lO9 5/-. Government Bonds, 4 per cent., 1955: b £lO9 5/-. Banks. Commercial: b 16/10. E.S. and A. Bank: s £5 5/6. National of New Zealand: b 72/-. New Zealand: b 50/-, s 51/6. New Zealand Lopg “D” issue: s 32/-. Reserve Bank of New Zealand: s £6 11/6. Breweries. Dunedin Brewery Co.: s 29/6. Timaru Brewery: b 8/-. Coal. Kaitangata: s 22/-. Westport Coal: b 21/4. Westport Stockton (ord.): s 3/-. Insurance. National: b 23/3,- s 23/-. New Zealand; b 69/6. South British: b 96/6. Standard: b 70/-. Loan and Agency. Goldsbrough, Mort and Co.: s 30/3. National Mortgage: s 60/-. Wright, Stephenson and Co. (ord.): b 18/-; (pref.): b 19/-. Meat Companies. • N.Z. Refrigerating (20/- paid): s 21/6; (10/_ paid): b 10/-. Southland Frozen Meat (£1 ord.): b 76/6; (10/- ord.): b 38/3; (£1 pref.): b 76/6. South Otago Freezing Co.: b £6 5/-. Shipping. Union Steam Ship Co. (pref.): b 27/-. Miscellaneous. Australian Glass: b 62/-. British Tobacco (Aust.): s 39/11. Colonial Sugar: b £4l 5/-. D.I.C. (pref.): s 27/-. Dominion Fertilizer: b 21/-. Dominion .Rubber Co.: s 30/6. Milburn Lime and Cement: s 43/-. New Zealand Drug: s 80/-. N.Z. Guarantee Corporation: b 5/9. Otago Daily Times: b 53/-. Wilson's (N.Z;) Portland Cement: b 32/6. Woolworths (Sydney): b 90/-. Woollen Mills. Bruce (pref.): b 21/-. Kaiapoi (ord.): s 15/9. Mining. Bell Hooper: b 2d, s 3d. Bell Kilgour: b Id, s 2d. Bendigo Goldlight: s lid. Broken Hill :b 53/-, s 54/-. Big River: b 2/3, s 2/6. Gillespies’ Beach: b 1/6. Golden Sands: s 3/-. -Goldfields Dredging: b 7Jd, s 9d. Kildare: b 2/5, s 2/8. King Solomon: s 3/9. Mahakipawa: b 9d, s lid. Maerewhenua: s 4d. Mount Morgans: b 39/6. Nevis Diesel: s 4Jd. Nokomai: b 2/7, s 3/-. Skippers: b 7d. Waitahu: b 2/-, s 2/6. Sales Reported. King Solomon: 3/8. Woolworths (Sydney): 90/6 (2). N.Z. Refrigerating: 10/2. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, January 22. Sales on ’Change: Auckland Harbour Board, 1939, 5} per cent., £103; Commercial Bank of Australia, 16/9 (2); Bank of New South Wales, £3l

5/-; Bank of New Zealand, 51/- (2); Bank of New Zealand (D. pref.), 30/6; Reserve Bank of New Zealand, £6 13/-; Queensland Insurance, 56/-; New Zealand Insurance, 70/9; Northern Steamship, 6/6; Howard Smith, 16/6; Claude Neon (New Zealand), 54/6 (2); Dunlop Perdriau, 19/10; Farmers’ Trading, 7/6, 7/7 (2); Farmers’ Trading (B. pref.), 14/3; Hill and Plummer, 15/6; Sun Newspapers, 4/6; Wilsons’ Cement,' 33/6; Broken Hill Proprietary, 35/9; Mataki, 1/10, 1/11; Skippers, 7Jd; Mount Lyell, 17/1.

Unofficial: Alluvial Holdings, 2/-; Woolworths (Sydney), 92/6. Christchurch, January 22. Unlisted sales on ’Change: Woolworths, Sydney (ord.) 93/-, 92/6, 92/7. Unlisted sales reported: Argo Gold (10jd. paid) 1/6; Woolworths, Sydney (ord.) 95/-; Woolworths (West Australia) £6 8/6. Sales on Change: Commercial Bank of Australia (cum. div.) 16/8; Goldsbrough Mort 29/10; New Zealand Refrigerating (£1 paid; cum. div.; odd lot) 21/1; New Zealand Refrigerating (10/- paid; cum. div.) 10/2 (6); Dunlop Perdriau Rubber 19/9 (3); Sun Newspapers 4/4 (2), 4/5 (2), 4/9, 4/11, 5/1, 5/3; Big River 2/4 (4); Brian Boru B}d; Mahakipawa 10d.; Rawang Tin 7/11; Waihi 39/6.

Sales reported: New Zealand Refrigerating (10/- paid; cum. div.) 10/3, British Tobacco 39/-; Sun Newspapers 5/3; Mahakipawa (pref.; 1930 issue) 1/4.

Dunedin, January 22. Sales reported: Sun Newspapers, 4/(late Monday); Bank of New Zealand, £2 10/10; Waihi Grand Junction, 4/10; Bell Hooper, 3d.

LORNEVILLE STOCK SALE. FAT VALUES MUCH THE SAME. There was little or no change in the fat sheep and fat cattle markets at the Lorneville sale yesterday, values being much the same as the previous week. There were increased yardings in practically all sections and a fair sale resulted.

Following is a comparative table of yardings for the past two sales:— Jan. 22 Jan 15. Store cattle 34 30 Fat cattle 120 122 Store sheep 848 609. Fat sheep 1240 1023

Yesterday’s yardings included 600 fat lambs, nine dairy cows, and 10 vealers.

Fat sheep:—There was only a medium entry; the greater portion of which consisted of ewes. Values showed little or m, change in comparison with the last two sales. Extra prime heavy wethers realized .up, to 26/3, prime quality 24/6 to 25/6, lighter weights down to 22/-; prime heavy ewes up to 17/6, good quality 15/6 to 16/6, with freezing weights 13/6 to 14/6, rough and unfinished down to 11/-. ,

Fat lambs.—There was only a small entry of mixed quality sorts. For anything of good quality there was quite a good demand, but for medium quality sorts bidding was slow. Prime quality freezing lambs made up to 23/6, fair quality 21/6 to 22/6, poorer quality from 19/6 to 20/6.

Store cattle:—The boisterous weather affected the attendance at the store cattle sale while the yarding was one of the smallest seen for some considerable time. There were no lines of steers or heifers offered with the exception of 18-month-old well-bred steers which realized £2 5/-, empty heifers in good condition made £2 1/-, good conditioned empty cows £1 15/-, and the usual unfinished sorts down to 12/6.

Dairy cows:—The small entry in this section did not contain any outstanding sorts. Heifers, just at profit, realized up to £3 5/—, while good dairy cows were hard to quit at prices from £2 10/- to £3.

Store sheep:—There was a larger attendance than usual at the store sheep sale and there was quite a bright tone about the market, with a good enquiry for store lambs, some of which were in quite good condition. A pen of forward lambs realized 17/9, others from 15/- to 16/8, and similar sorts from 12/- to 13/6. A line of forward-con-dition store wethers. brought 18/9, while a pen of shorn aged ewes with lambs at foot realized 10/2, and a line of full and failing mouthed ewes brought 15/3. Fat cattle:—The yarding was on a par with the previous week, and again comprised a large percentage of aged and inferior sorts. There was little or no change in values compared witji last week. Prime quality handyweight bullocks realized up to £7 17/6; lighter weights from £5 10/- to £6 10/-; unfinished sorts, down to £4 10/-; good quality, cows up to £4 15/-; medium sorts, £3 5/- to £3 15/-; aged and inferior, down to £1 15/-; good quality medium weight heifers, up to £4 15/-; lighter weights £3 10/- to £4 5/-. GORE STOCK SALE. The fortnightly Gore stock sale was held yesterday, there being a few pennings of fat sheep and a moderate yarding of fat cattle. Fat ewes brought from 13/3 to 13/6 for average prime sorts, and one line of maiden ewes made up to 20/3. Well-finished bullocks were sold at £6 10/- for top-pens, down to £5 15/for medium weights. Sales were:— Dalgety and Co., Ltd.: 4 fat bullocks £6 10/-, 3 do. £5 15/-, 2 do. £6 2/6. Southland Farmers’ Co.-operative Association Ltd.: 3 fat ewes 13/6, 5 do. 20/3, 7 do. 13/3, one fat cow £2 7/6, do. £1; do. £3, do.. £2; 6 empty heifers 26/-; one calf 11/-q 3 store cows 15/-; 3 empty, heifers 22/-. Wright, Stephenson and Co., Ltd.: 1 fat cow £3 7/6. DAIRY PRODUCE MARKET. The New Zealand Dairy Produce Board has received the following market report from its London office dated January 18, 1935:— Butter.—New Zealand salted, 79/- to 82/-; equals approx. 9ZBd f.0.b.; unsalted, 84/- to 86/-; deliveries New Zealand, 2022 tons; in store New Zealand, 5285 tons, includes 553 tons Tuscan Star. Australian salted, 79/- to. 81/-; unsalted, 82/- to 84/-; deliveries' Australian, 2726 tons; in store Australian, 3317-tons. After weak opening market firmer. Active demand. Danish, 97/- f.0.b., 118/- spot; Dutch unsalted, 111/- to 115/-; Danish retail price 1/2; New Zealand lOd. \ ’

Cheese.—New Zealand white and col-

oured, 45/- to 46/6 (4.85 d f.0.b.); deliveries New Zealand, 20,510 crates; in store New Zealand, 76,940 crates, includes 15,560 crates, Tuscan Star. Australian white and coloured, 45/-. Market steadier end of week. Canadian white and > coloured, 56/- to 60/(quiet); deliveries Canadian, 6952 boxes; in store Canadian, 131,381 boxes. English Finest Farmers, 'B2/- to 90/— (steady). MARKET REPORT. The Union S.S. Coy. advise that the Waipiata with sugar and general cargo for this district is scheduled to reach Bluff abou. the 31st. Colombo cables advise a sudden recovery in the tea market and all grades have been advanced. Commons and Mediums are a halfpenny per pound higher in price and fine teas from a penny halfpenny to two pence per pound, higher. Quality is. steadily improving. In face of the increased quantity on offer, bidding was keen. Latest cables advise a further increase in the price of desiccated coconut. This market has advanced with rapid strides during the last weeks. On a comparison of values dating back to October last and to-day’s market price, the total advance is eight shillings per cwt. inclusive of exchange. Citric acid which has been at a low figure for a considerable period is on to-day’s landing showing an increased cost of approximately four pence per pound. Singapore cables advise a further slight drop in the price of sago and tapioca. Pineapple is reported to be firming. LONDON MARKETS. The Department of Agriculture has received the following cablegram, dated January 19, from the High Commissioner for New Zealand, London:— Tallow.—Market firm. No change in values. , . , , . Hemp.—Manila: Market quiet, but easier at the close. K grade for Janu-ary-March shipment, value £l3 15/-. Output January 1 to January 14, 38,000 bales against 59,000 for the same period last year. Stocks in the United Kingdom on January 3, 27,000 bales against 9740 for last year. Stocks in Manila .on January 14, 152,000 bales against 133,000 for last year. Sisal: Market quiet but slightly easier. Values No. 1 grade for January-March shipment, £l5 and for March-May shipment £l5 5/-. New Zealand: Market quiet. On the basis of fair grade, nominal value is £l4 10/-. No firsthand sales reported. Stocks in London on January 3, 6 tons against 55 tons for last year. . Apples.—Fair demand for wrapped fruit. English Cox’s Orange, 10/- to 12/6 for half-boxes. Imported—heavier quantities offered. British Columbian Jonathans, 10/- to 13/-; Newtown Pippin, 12/- to 13/6; Oregon Newtown, 12/6 to 13/3; Californian Newtown, 12/Pears.—Demand is good. American Winter Nelis, 14/- to 15/-; Anjou, 15/to 16/-.

MINING REPORTS. , OKARITO RETURN. (Per United Press Association.) Dunedin, January 22. The Okarito return was 260 z 6dwt for 121 hours’ working. SYDNEY WOOL SALES. (United Press Assn.—Telegraph Copyright.) (Rec. 10 p.m.) Sydney, January 22. At the wool sales 11,058 bales were offered and 9888 bales were sold, including 536 bales privately. There was good general competition.. Prices showed a partial recovery compared ■ with ■ the previous day. Faulty thin pieces and shoddy fleece showed irregularity. ' Greasy Merino made 15,d. * ■ ■■■■'■► • ■ • • , . . FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, January 21. The following rates of foreign exchanges are current to-day compared with par:— Par. To-day. Paris, fr. to £1 124.21 74 5-32 New York, dol, to £1 4.866 4.87} Montreal, dol. to £1 4.866 4.87} Brussels, belgas to £1 35 20.96 Geneva, fr. to £1 25.221 15.12 Amsterdam, fl. to £1 12.107 7.24} Milan, lira to £1 92.46 57 9-32 Berlin, rmk. to £1 20.43 12.20 Stockholm, kr. to £1 18.159 19.39} Copenhagen, kr. to £1 18.159 22.39} Oslo, kr. to £1 19.159 19.90 Vienna, schgs. to £1 34.585 26 Prague, kr. to £1 164.25 117} Helsingfors, m. to £1 193.23 226} Madrid, pesetas to • £1 25.2215 35 13-16 Lisbon, escudas to £1 110 116} Athens, dr. to £1 875 512 Bucharest, lei to £1 818.6 185 Belgrade, dinars 25.2215 21.6 Rio de Janeiro, p. to milreis 4.892 4} Buenos Aires, p. to dol 45.577 15 Montevideo, p. to dol. 57 39? Bombay, pence to rupee 19 18 1-16 Shanghai, ■ pence to dol. 17} Hong Kong, p. to dol. 21| Yokohama, p. to yen 24.57 14 Warsaw, par zlotys to , £1 43.36 26.37 Batavia, guilders 12.107 7.23}

WHEAT CARGOES. (United Press Assn—Telegraph Copyright.) London, January 21. Wheat cargoes are steadier, while parcels are 3d. dearer. Futures.—London: February, 20/2; April, 20/3; June, 21/-. Liverpool: March, 4/10}; May, 5/1; July, 5/2}. LONDON WOOL SALES. (United Press Assn.—Telegraph Copyright.) London, January 21. At the wool sales 8723 bales were offered, including 2530 bales from New Zealand. Approximately 7810 Australian and New Zealand bales were sold to Home and Continental buyers, who are still operating freely. The market was firm and the bulk of the offerings sold at full rates. ' New Zealand greasy crossbred “Waiau,’’ top price, 10)d, average Bfd. The Bradford market is quiet and l quotations are slightly easier. THE DOLLAR AND FRANC. (United Press Assn—Telegraph Copyright.) London, January 21. The dollar is quoted at 4.88 7-16, and the franc at 74), to the £ sterling. PRICE OF GOLD. (United Press Assn—Telegraph Copyright.) London, January 21. The price of gold is £7 2/0} per oz.