COMMERCIAL

Southland Times, Issue 22488, 24 January 1935, Page 2

COMMERCIAL

LOCAL MARKETS. Times Office, Thursday Morning. Grain and Produce. Oats.—During the past week there has been more inquiry for oats for prompt shipment and also inquiry for spread delivery, April-September, for which sales have been made at up to 2/7. The stocks held by merchants are very light and there.will be no further oats from farmers until the new sea- : son’s crop is harvested, and it is unlikely that there will be many available from this source . until March! Value to farmers is 1/9 for A’s and 1/6 for B’s. Wheat. —Sales of fowl wheat have been made at 3/9 f.0.b., but stocks are now practically done. Business is otherwise confined to supplies for the local poultry trade. Chaff.—There is no shipping demand and the supplies coming to hand from farmers are sufficient to meet the local demand. Good bright quality is worth £2 10/- o.t.c.s. to farmers. Ryegrass.—With the sales to the United Kingdom a short time ago the stocks held by merchants have been practically cleaned up and there will not be much business until the new season’s crop comes to hand. A few lines have been threshed but the harvesting of the majority have been delayed owing to the weather. It is anticipated that prices will be loweithan last season. Value is about 1/9 a bushel, but farmers are not inclined to sell at this level and will probably hold off for a better price. Potatoes.—Business is still confined to local dealings. Fruit and Vegetables.

In spite of the stormy weather the past week has been a good one in the local fruit marts. Towards the end of last week the supplies of stone fruit eased off and in consequence it was impossible to fill the demand. The situation has improved this week and increasing quantities have been coming to hand.

Advice has been received that the apricot crop is past diminishing. Plums on the other hand are just beginning to come forward in quantity, and late varieties of peaches are not yet on the market.

Nectarines made their appearance last week and will be in full supply in a few days. Prices firmed considerably for the week-end, apricots realizing 4/- to 5/for choice, and 2/6 to 3/6 for jam quality. Peach values are the same. Dessert plums brought 2d to 3|d a lb and jam plums from 2/6 to 3/6 a box. With increasing supplies these prices have eased slightly, particularly for jam lines, but a rise may be expected for apricots, as the season finishes." All lines are coming forward in good condition.

Raspberries are now in small compass. Growers are finding difficulty in picking, and only occasional lots are arriving. Prices range from 8/6 to 9/- a bucket.

Tomatoes are in heavy supply from Nelson. The sample is a good one. Christchurch field tomatoes are also in good supply. Prices have eased to from 2d to 3|d a lb. Hothouse samples are reduced in supply and are bringing 3d to 4d. Growers advise that there will be fewer tomatoes to come forward this year, and prices will probably remain about this level.

Cucumbers, Christchurch hothouse, 2/6 to 3/6 a box. Bon Chretian pears have now arrived on the market. The fruit is in first-class condition and selling well at 8/- to 9/- per threequarter case. These are the first of the season and come from the north. Otago Central varieties are expected later. Apples—Gravensteins, and other new season’s are bringing 6/- to 7/6 a case; Cox’s Orange 10/- to 12/-. Bananas are now practically out of wholesalers’ hands. The next shipment is due in a month’s time.

Only a small quantity of Jamaican oranges is now available at 40/- to 45/a case.

Californian lemons are available at 60/- and New Zealand at 15/-. Coconuts 10/- to 12/- a sack.

Hothouse grapes, local, from 1/4 to 1/9 a lb.

Current Prices. Wholesale. Eggs, 9d (country) and lOd (town). Bacon, IOJd to llid. Bran, £5 5/*-. Pollard, £6 15/-. Butter, factory, 10Jd; separator, 5d to

7d. Hour, £l4 12/- to £l5 17/-. Oatmeal, £l9 to £23.

Retail. Eggs, lid (country) and 1/- (town).'. Bacon, 1/1 to 1/2, - - ; Pollard, 8/- per 1001 b. ;■ • , Butter, factory, lid to 1/-; separator, 7d to 9d. 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. ADDINGTON STOCK SALE. VALUES WELL MAINTAINED. (Per United Press Association.) Christthurch, January 23. Last week’s values were well maintained in practically ...all sections of stock at the Addington market to-day, fat cattle being the exception; these were weaker by 15/- a head. Store Lambs.—The store sheep entry was practically comprised of lambs, which sold keenly. Values:—Good forward wether lambs, 15/8 to 17/3; medium wethers, 12/6 to 15/-; small and backward wethers, 8/9 to 11/6; good m.s., to 17/-; medium m.s., 12/6 to 14/6; ordinary, 10/6 to 11/9; small and backward, 8/7 to 10/3. Fat Lambs.—There was a smaller entiy and a keen sale, butchers’ lambs being up by 1/ a head. Values:— Best, to 28/1; heavy, 24/-to 25/6; ordinary, 20/- to 23/1; light, 16/- to 19/-. ■' Fat Sheep.—The yarding was 4500 head, compared with 4800 last week. Butchers’ wethers were a shade easier, while others were unchanged. Values:—Extra prime heavy wethers, to 26/10; prime heavy, 24/- to 25/6; prime-medium-weight, 21/6 to 23/-; others,, 17/6 to 21/-; extra prime heavy ewes, to 21/4; prime,- 16/6 to 20/-; others, 12/6 to 16/-.

Fat Cattle.—There were 410 penned, compared with 495 last week. A dragging sale ensued, with values down by 15/- a head. Best beef made’ from 20/-

FINANCE AND TRADE

to 22/- per 1001 b; heavy, 16/- to 19/-; and secondary to 15/-. Values:—Extra prime heavy steers, to £lO 2/6; prime heavy, £7 15/- to £9; prime mediumweight, £7 to £8; others, £3 5/— to £6 10/-; best heifers, £4 5/- to £7 17/6; ordinary, £3 to £4; light, to £3; best cows, £4 to £7 2/6; others, £2 to £3 10/-. , . Fat Pigs.—The entry was of normal size. There was a good demand for both bacon and pork ■ kinds. A total of 120 head was bought for export. Values:—Choppers, £2 to £4 13/6; baconers, 42/6 to 52/6; heavy baconers, 57/6 to £3 5/6; extra heavy, .i 3 10/6 to £3 13/6 (an average price of 54a to 5Jd per lb); porkers, 30/- to 33/6; heavy porkers, 34/6 to £2 0/6 (an average price of s£d to 6d per lb). BURNSIDE STOCK SALE. FULL YARDING GENERALLY. (Per United Press Association.) Dunedin, January 23. There were full yardings in all the principal sections at the Bumside sale. Fat Cattle.—The entry totalled 271, and the quality throughout did not compare favourably with recent sales. Heavy bullocks sold firm at the late parity, while medium quality bullocks showed a decline of 10/- a head. Values: Extra prime heavy bullocks, to £lO 17/6; prime heavy, £8 2/6 to £9 2/6; medium quality, £6 7/6 .to £7 7/6; light, down to £4 12/6; prime heifers, to £6 7/6; medium, £4 2/6 to £4 17/6; light, down to £3 2/6; prime cows, to £4 17/6; medium, £3 2/6 to £3 17/6; light, down to £1 12/6. Fat Sheep.—Those forward numbered 1857, and there was a good demand throughout. Heavy wethers sold in larger numbers and met keen competition; heavy ewes were scarce, and sold from par to 1/- dearer. Values:— Extra prime heavy wethers, to 28/9; prime heavy, 25/- to 26/6; medium 23/9 to 24/6; light, down to 19/-; extra prime heavy.young ewes, to 23/6; extra prime heavy, to 22/6; prime heavy, 17/6 to 20/-; medium quality, 14/9 to 16/6; light, to 12/9. Lambs—The entry totalled 1490 and the quality was only fair. Prices showed a decline of 1/- a head on the previous market. Values: Extra prime heavy lambs, to 26/3; prime heavy, 22/9 to 24/-; medium quality, 20/- to 21/-; light, down to 17/6. Store Cattle.—There was a yarding of 170, and values for all classes were slightly easier. Dairy Cattle.—There was an entry of ,46 dairy cows, with a fair proportion of young cows and heifers, close to profit. . There was keep competition for these, at prices ranging from £4 to £5 5/-. . ‘ , Fat Pigs.—There was the large entry of 212. On account of this over-sup-ply, slightly lower values had to be accepted, and baconers and porkers showed a drop in value of 4/- to 5/per head. Values: Best baconers, to £3 7/-; good quality porkers, to' £2 6/-. Store Pigs.—The yarding of 145 did not attract a great deal of competition, and slightly lower values ruled.

STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. At yesterday’s call-over on the Invercargill Stock Exchange the following prices were quoted: Government Debentures. Government Stock, 31 per cent., 193843: b £lO6. Government Stock, 3| per cent., 193852: b £lO6. Government Stock, 31 per cent., 193943: b £lO6. Government Stock, 3J per cent., 193952: b £lO6. Government Stock, 4 per cent., 1940: b £lO2. Government Bonds, 4 per cent., 1940: b £lO2. Government Stock, 4 per cent., 1946: b £lO6 10/-. Government Bonds, 4 per cent., 1946: b £lO6 10/-. Government Stock, 4 per cent., 1949: b £lO6 15/-. Government Bonds, 4 per cent., 1949: b £lO6 15/-. Government Stock, 4 per cent., 1955: b £lO9 5/-. Government Bonds, 4 per cent., 1955: b £lO9 5/-. Banks. Commercial: b 16/9. E.S. and A. Bank: s £5 5/-. National of New Zealand: b 70/6. New Zealand: b 50/-, s 51/-. New Zealand Long “D” issue: s 31/3. Reserve Bank of New Zealand: b £6 12/-, s £6 13/6. Breweries. New Zealand Breweries (Shares): b 52/-. Staples’ Brewery: b 33/-. ' Timaru Brewery (1/6 paid): b 8/-. Coal. Westport Coal; b 21/3, s 22/6. Insurance. National: b 22/-, s 22/10. New Zealand: b 69/6. South British: b 97/-. . , , Lean and Agency? Goldsbrough, Mort and Co.: s 30/-. National Mortgage: s 60/-. Wright, Stephenson and Co. .(pref.): b 19/3, s 20/3. Meat Companies. N.Z. Refrigerating (20/- paid): s 21/-; (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. Huddart-Parker: b 37/-. Union Steam Ship Co. (pref.): b 27/-.

Miscellaneous. Australian Glass: b 60/-. British Tobacco (Aust.): b 39/6. Colonial Sugar: b £4l 5/-. Dominion Fertilizer: b 21/-. Dunlop Rubber (Aust.): s 20/-, Milbum Lime and Cement: s 42/9. New Zealand Drug: s 80/-. N.Z. Guarantee Corporation: b 5/9. New Zealand Paper Mills: s 35/-. Otago Daily Times: b 53/-. Wilson’s (N.Z.) Portland Cement: b 33/-. Woolworths (Sydney): b 90/Woollen Mills. Bruce (pref.): b 21/3. Kaiapoi (ord.): s 15/9. Mining. Bell Hooper: s 3Jd. Bell Kilgour: b Id. s lid. Bendigo Goldlight: s lid. Big River: b 2/3. Gillespie’s Beach: b 1/7, s 1/9. Golden Sands: s 3/-. Goldfields Dredging: b 71d, s 9d. Kildare: s 2/8. King Solomon: s 3/9. Maerewhenua: s 3d. Nevis Diesel: s 4d. Nokomai: b 2/6, s 3/-. Okarito: s 8/3. Skippers: b 7d. Waihi Grand Junction: b 4/S. Waitahu: b 2/-. Maori Gully: b 1/5, s 1/8. Sales Reported. Commercial Bank: 16/11.

Skippers: 7d. N.Z. Refrigerating: 21/-. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, January 23. Sales on ’Change: Bonds, 1940, 4 per cent. £lO3 10/-; Otahuhu Borough, 1954, 4J per cent. £lO3 15/-; Bank of New Zealand debentures, 1939, 5J per cent. £107; E. S. and A. Bank £5 2/-; Bank of New Zealand 51/- (3); Reserve Bank of New Zealand £6 13/6; Union Bank £9; New Zealand Insurance 70/6; Queensland Insurance 56/1; Goldsbrough Mort 29/6; Auckland Gas 26/9; Claude Neon (New Zealand) 54/6; Claude Neon (Sydney) 50/-; Fanners’ Trading 7/7; Hill and Plummer 15/6; Morris Hedstrom 18/1. Unofficial: Associated Motorists (pref.) 23/6; Dominion Laundry 20/-; K.D.V. Box (10/1 paid) 14/6; Woolworths (Sydney) 92/-; Alluvial Holdings 2/-, 2/1; Golden Crown (2/- paid) 3/1. Wellington, January 23. Sales on ’Change: Wanganui Hospital, per cent., 1943 £110; Commercial Bank of Australia 16/10; Bank of New Zealand 50/9, 50/11; Reserve Bank of New Zealand £6 13/-; New Zealand Guarantee Corporation 5/11; New Zealand Insurance 70/9, 71/-; British Tobacco 39/3; Northern Roller Mills 33/-; Sun Newspapers 5/4J; Mount Morgan 41/-. Unlisted sales on ’Change: Woolworths (Sydney) 94/9. Christchurch, January 23. Unlisted sales on ’Change: Argo Gold (IOJd paid) 1/5J (2). Unlisted sale reported: Woolworths, , Sydney (ord.) 94/-. ; Sales on ’Change: Bank of New . South Wales £3l 5/- (2); Dalgety and ■ Company £8 10/- (4); New Zealand ] Refrigerating (£1 paid; cum div) 21/2; : New Zealand Refrigerating (10/- paid; cum. div.) 10/2 (3); Dimedin Brewery ‘ 29/3;Timaru Brewery (7/6 paid) 8/3 (2); British Tobacco 39/-; Dunlop Rub- < her 19/9 (5); Sun Newspapers 5/6, 5/3, : 5/4 (2), 5/3, 5/2 (2), 5/-, 5/2, 5/1 (3); 1

Big River 2/2J, 2/2 (2), 2/O>J, 2/11 (4); Goldfields Dredging 7jd; King Solomon'3/2; Mahakipawa 11 Jd, 1/-; Mount Morgan . 40/3; Skippers 7d. Sales reported: National Bank of New Zealand 72/-; New Zealand Breweries 51/9, 51/6; Amalgamated Wireless (cont.) 42/9. Dunedin, January 23. Sales on ’Change: Sun Newspapers 5/3 (2). Sales reported: Wilson’s Cement £1 13/6; Big River <2/41;-Kildare 2/6. COMMERCIAL BANKING COMPANY. HALF-YEARLY INTERIM DIVIDEND. (Per United Press Association.) • Wellington, January 23. The Commercial Banking Company of Sydney has advised the Stock Exchange Association of an interim dividend for the past half-year at the rate of 5 per cent, per annum; payable at the head office, Sydney, on January 29.

SYDNEY STOCK EXCHANGE. (United Press Assn.—Telegraph Copyright.) (Rec. 10.10 p.m.) Sydney, January 23 On the Stock Exchange Bank of New South Wales shares weakened, but Commonwealth bonds displayed an upward tendency, while classified stocks were in demand. Substantial business was done at steady to firmer rates. Sales were:—

SYDNEY WOOL SALES, PRICES FIRM. (United Press Assn.—Telegraph Copyright.) (Rec. 10.0 p.m.) Sydney, January 23, At the wool sales 12,178 bales were offered and 10,346 sold, also 1779 privately. All the better grown fleece and skirtings were firm at the previous day’s improved levels. Comebacks and Crossbreds sold at the best point for the week. ~. ' . , Greasy . Merino brought to 19J pence. LONDON SALES. London, January 22. At ; the wool sales 9368 bales were offered, including 836 bales from New Zealand. Approximately 4267 bales of Australian and New Zealand wool were sold, i Competition was sustained for both merinos apd crossbreds and steady rates Were maintained. 1 New Zealand halfbred lamb slipe “Awarua,” llfd; ditto crossbred, IOJd. The Yorkshire Obesrver says:—“One of the factors mainly responsible for the strength of the Bradford market during the past month or two is* the export

of a large quantity of scoured wool and tops to Germany. Very big weights have been shipped and substantial orders have still to be completed.” MINING REPORTS. BELL-KILGOUR GOLD MINING COMPANY. The secretary of the Bell-Kilgour Gold Mining Co., Ltd. (Mr F. R. Thompson) advises receipt of report from the manager, dated January 19, reading as follows:— “The north branch was advanced 27ft 6in for the week. The floor level was very uneven and wash proved low grade. From the north cross cut of the east bench drove an incline up to the wash floor. At 14ft the wash proved low grade and am now extending the north cross cut which has been advanced 16ft for the week. The wash floor which has dropped Ift 6in is now showing at cap ■ level. Dish prospects show a little rough gold.”

BELL-HOOPER. Bell-Hooper Cromwell Gold Ltd. report as follows for the week ending January 18, 1935:— No. 2 Mine Area No. 1 East Drive— This drive was advanced 23 feet, total 162 feet, east of No. 4 north drive. The bottom has dipped slightly and is now two feet below the cap of the timber. The gravel showing is still of a drifty nature, but with a small quantity of wash lodged in the slight depressions in the bottom. Traces of gold have been found here. The bottom is now of a much softer nature and some water is coming from the face. No. 1 B West Drive—The drive has been advanced 22ft, total 22ft, west of the No. 4 north drive. Only traces of gold have been found to date. Present indications are for the bottom to dip suddenly when gold will have a chance of being found. Note: In my last report the starting point was given as 148 feet north. This should read 106 feet. Blocking Out.—The area of ground which can safely be blocked out in the area round No. 1 east drive is now small. Lately considerable weight has come on the timbers and it was found necessary to fill the open space from the roof. In future in this area only panels sft wide can be taken to work out the balance of the gold area to the south and east. It will be necessary to leave the block of ground on the south-east side of No. 1 east.drive.intact to maintain that drive in a safe condition. The total gold obtained was soz 9dwt 9gr. .

I COLOMBO TEA SALE. I (Per United Press Association.) I . . Dunedin, January 23. I Mr L. M. Wright has received the , following cabled report on the Colombo' • tea auction of January 22:— I “The market for common tea is irre- ; gular, and medium and fine kinds are ' dearer generally. The quality of the offerings again showed an improvement. A total of 2,810,0001 b was auctioned. At next week’s sale 1,490,0001 b is catalogued for sale.” DAIRY PRODUCE MARKET. Mr G. Blaxall has received the following cable dated January 22 from Messrs Lovell and Christmas, Ltd.:— Butter: Finest, 83/-; firsts, 82/-. The market is steady. Cheese: White, 45/6; coloured, 45/6. The market is steady. METAL QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 9.50 p.m.) London, January 22. Metal quotations are as follows:— Jan. 18. Jan. 22. £ s. d. £ s. d.

THE DOLLAR AND FRANC. (United Press Assn.—Telegraph Copyright.) London, January 22. The dollar is quoted at 4.88 1-16, and the franc at 74-J, to the £ sterling. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, January 22. The price of gold is £7 2/1 per oz.

£ s d Bank of New South Wales Commercial Bank of Syd31 12 6 ney 17 15 0 Bank of New Zealand Australian Provincial As2 10 6 surance 11 4 United'Insurance, 12 8 0 Howard Smith 16,10$ Huddart Parker 1 18 0 Australian Gas A 8 2 6 Newcastle Gas, C 13 9 Amalgamated Textiles 10 10 G. J. Coles 2 15 6 Tooths 2 10 Tooheys 1 10 3 Hume Pipe 16 6 General Industries 14 2 Dunlop Perdriau (pref.) 1 19 0 Goldsbrough 1 10 0 Wilcox Mofflin 10 6 Morris Hedstrom 18 10$ Anthony Hordern 19 6 Victoria Nyanza 4 10 British Tobacco 1 19 3 Goodyear (pref.) 1 12 0 Mt. Morgan 1 19 0 North Broken Hill 4 19 0 Rawang Tin 7 10 Placer Development Melbourne Sales. 28 0 0 Goldsbrough Commercial Bank of Aus1 10 3 tralia 16 9 National Bank (£10 paid) 13 5 0 Adelaide Steam 1 11 0 Australian Glass (pref.) 2 2 0

Copper— Standard spot 28 3 11 28 4 41 Forward 28 10 71 28 9 41 Electrolytic 31 10 0 31 5 0 to 31 15 0 31 15 0 Wire Bars 31 15 0 31 15 0 American — — Lead— Spot 10 5 0 10 8 9 Forward 10 15 0 10 11 3 Spelter— Spot 11 18 9 11 6 3 Forward 12 5 0 12 3 9 Tin— Spot 231 5 0 232 9 41 Forward ■ 228 17 6 228 18 9 Silver— Fine, per oz. 24 9-16d 24 5-8d Standard, per oz. 26 l-8d 26 9-16d