COMMERCIAL

Southland Times, Issue 25308, 11 June 1935, Page 2

COMMERCIAL

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, 3) per cent, 193852: b £lO5, s £lO6. Government Stock, 31 per cent, 193852: b £lO6. Government Stock, 3| per cent, 193943: b £lO5. Government Stock, 3J per cent, 1939*52: b £lO6. x Government Stock, 4 per cent, 1940: b £lO3. Government Bonds, 4 per cent, 1940: b £lO3. Government Stock, 4 per cent, 1946: b £lO7 10/-. Government Bonds, 4 per cent, 1946: b £lO7 10/-. Government Stock, 4 per cent, 1949: b £lOB. Government Bonds, 4 per cent, 1949: b £lOB. Government Stock, 4 per cent, 1955: b £ll2. Government Bonds, 4 per cent, 1955: b £ll2. Banks. Commercial: s 15/3. National of New Zealand: b 66/6, s 68/3. New South Wales: b £3l. New Zealand: s 51/-. New Zealand Long “D” issue: s 34/3. Reserve Bank of New Zealand: s £6 11/-. ' ", Union of Australia: b £9, s £9 3/-. Breweries. Dunedin Brewery Co.: s 30/-. New Zealand Breweries (Shares): b 52/6, s 54/-. . Staples’ Brewery: b 32/9. Timaru Brewery: s 8/-,

Narbada, Dunedin. September 20. Zealandic. Dunedin. October 1. Marama. Melbourne, November 11. Hhuraici, Dunedin. December 7. Mataroa, Wellington, February 7. PROJECTED DEPARTURES. Storm. Dunedin, to-day. Waitaki, Dunedin, to-day. Waikouaiti, Sydney. June 13. Waimarino, Dunedin. June 13. Westmoreland, Port Chalmers. June 13. Kaimiro, Greymouth, June 15. Canadian Cruiser. Dunedin, June 17. Waitaki, Melbourne, June J). Waiplata, Dunedin, June 20. Karetu, Sydney, June 20. Rotorua. Lyttelton. June 29. Ruahine, Napier. July 27. Port Fairy, —, August 19. ■ Fordsdale, —, September —. ■ Narbada, Newcastle, September 20. Zealandic. Umaru. October i Marama,. Dunedin. November 11. Hauraki. Melbourne. December 8. Mataroa, —, February — GENERAL NOTES. The Union Company's intercolonial steamer Waitaki arrived at Bluff from Melbourne early yesterday morning with Australian mails and cargo. She sails for Wellington, via Dunedin to-day. The Canterbury Shipping Company’s coastal steamer Storm, from Wellington, was another early morning arrival at. Bluff yesterday. She sails to return to the north, via Dunedin, on completion of working today. Though work was started on the three vessels in port yesterday, rain did not allow of much being done. With a heavy wind, of gale force at times, and driving showers, conditions could hardly have been worse for outdoor work. The Waipiata Is leaving Auckland on June 14 for Wellington, Lyttelton, Dunedin and Bluff. She is due here on June 20 and sails the same day for Dunedin. — The Waimarino was to leave Wellington yesterday for Lyttelton, Dunedin and Bluff. She is due here on the 13th. The Waitaki on arrival at Wellington will undergo survey and will leave there on Monday the 17th for Oamaru and Bluff. She will reach here on the 19th and sail the same day for Melbourne. H.M.S. Diomede has been docked in Auckland for inspection and overhaul preparatory to leaving on June 18 for a two months’ cruise to the South Sea Islands. The Golden Bear cleared Los Angeles on June 2 with cargo from Pacific Coast porta for Auckland, Wellington and Australia. She is due at Auckland about June 28. The Commonwealth and Dominion Line motor ship Port Fairy is reported to have cleared Falkland Islands a week ago. in continuation of her voyage from Wellington to London. She was despatched from Wellington on May 18. The Shaw. Savill and Albion liner Mataroa. which left Wellington for London on May 25, reached Pitcairn Island on June 2 and afterwards reported by wireless:— "Fine weather experienced since leaving Wellington. All well.” During the week ended April 19, 939 vessels, representing 845.703 net register tons, used the Port of London. Four hundred and fourty-nine vessels (657,298 net register tons) were to and from Empire and foreign ports and 490 vessels (188,405 net register tons) were engaged in coastwise traffic. The arrivals included ten meat cargoes, viz. six from Australia, two from New Zealand and two from South America, comprising 358,000 carcasses of lamb and mutton. 104,000 quarters of beef, quantities of pork, rabbits and sundries. WESTMORELAND AT BLUFF. The New Zealand Shipping Company's liner Westmoreland, which berthed at Bluff early on Sunday afternoon, from Adelaide, sailed from Cardiff on her present voyage and made calls in the U.S.A., touching at New York, Newport News and Norfolk, before the run to Australia, via the Panama. Brisbane was her first Commonwealth port, Sydney, Melbourne, Geelong and Adelaide following in that order. Completion of discharge was effected at the last-named port and from there the vessel sailed for Bluff to begin her loading for the Homeland. Completion at Southland's port Is expected on Thursday and departure will then be taken for Port Chalmers. Timaru, Wellington. Wanganui and Auckland. Captain E. R. Kemp commands the Westmoreland and his officers are: Chief,officer, Mr F. Lougheed; second, Mr H. Letts: third, Mr R. Coen; fourth, Mr H. Durrell; chief engineer, Mr A. Miebach; second. Mr F. Llewellyn; third. Mr J, Godfrey; fourth. Mr C. Rlppon; fifth, Mr A. Timpson; sixth, Mr W. Green; seventh, Mr R. Lambert; chief refrigerating engineer, Mr W. White; second. Mr A. Simpson: wireless operator. Mr R. Glover; steward in charge, Mr J. Matthews. TELEGRAPHED REPORTS. COASTAL AND OVERSEAS. (Per United Press Association.) Dunedin, June 10. Arrived: Wainui 2.30 fl.m. from Wellington; Holmdale 5.30 ’a.m. from Wellington, Sailed: Kaimai 5 p.m. for Oamaru: Holmdale 6 p.m. for Oamaru.

LAMB PRICES. SOUTHLAND SCHEDULE. The ruling schedule of lamb prices in Southland at the present time shows no change compared with the rates of the past fortnight. It is as follows:— First Quality. Weight. Price per lb. 361bs and under 62 371bs and under 6| 431bs to 501bs 6-f Over 501bs 5f Second Quality. 361bs and under 6 371bs and over 54 The schedule for ewes and wethers is also unchanged. DAIRY PRODUCE PRICES. The New Zealand Dairy Board has received the following market report from its London office dated June 7, 1935. Butter.—New Zealand salted 83/-, exceptional 84/-, equals approximately 9.59 d f.0.b.; unsalted 81/- to 83/-; deliveries New Zealand 1597 tons, in store New Zealand 6824 tons (includes 3500 boxes Port Curtis, 87 tons); Australian salted 82/-, unsalted 82/-; deliveries Australian 1731 tons, in store Australian 8146 tons. Market firm. N.Z. retail price unchanged lOd. Irish cream salted 80/-, unsalted 80/-; South Africa 74/- to 78/-; Danish 98/- spot, 76/- to 77/- f.0.b.; Dutch unsalted 75/-, exceptional 83/-; Siberian salted 76/to 78/-; Ukranian —; Polish 71/- to 73/-; Lithuanian Unsalted 74/- to 78/-; Market steady. Danish retail price unchanged 1/-. Cheese.—New Zealand white (approx. 4.53 d f.0.b.) 43/- to 43/6; coloured (approx. 4.53 d f.0.b.) 43/- to 43/6; deliveries New Zealand 18,151 crates, in store 173,881 crates; Australian white and coloured 42/-, Canadian 62/- to 64/-; deliveries Canadian 5205 boxes, in store 49,552 boxes; English finest farmers 82/- to 90/-; English factory cheese 37/- to 42/-. Market quiet. New Zealand retail price unchanged 6d. MINING REPORTS. GILLESPIE’S BEACH. (Per United Press Association.) Dunedin, June 10. The return for Gillespie’s Beach is 27 ounces 12dwt for 135 hours’ work. WILSON’S CEMENT COMPANY. STRONG FINANCIAL POSITION. "Trading throughout the year has still been difficult, although less so than during the previous year, and shareholders will doubtless derive satisfaction from the strong financial position as disclosed by the company’s balancesheet,” said the acting-chairman, Mr T. Simson, at the annual meeting of the shareholders in Wilson’s Portland Cement Company. “At our last annual meeting Sir George Elliot mentioned that sales had been the lowest for some years, but he believed the

bottom of the hill had been reached and the company might hope) for a, h steady ascent, said Mr Simson. “It is gratifying to report that this hope has been realized. Although the increase is not large, it has been steady, and the indications for the coming year are quite assuring, Apart from the great efforts being made by governmental and local bodies to relieve unemployment and bring about confidence, and to increase trading by providing for works of a permanent nature many companies and private individuals are contemplating new buildings. This should result in greater demands for the products and services, not only of- the cement industry, but also of all allied industries.” The works laboratory was well equipped and staffed and the high quality of the company’s product had been fully maintained. Plant and equipment had been well maintained although the mill had been running at reduced capacity. New developments were continually taking place in cement machinery and methods of manufacture. The payment of a final dividend of 7| per cent, per share and a bonus of per cent, per share, making 13f per cent, for the year, was agreed to. LONDON MEAT QUOTATIONS. The New Zealand Meat Producers Board has received the following cable from its London office, dated June 7, advising that the following are the approximate average prices realized for the week, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market, and/or ex London stores. (Prices for the previous weeks are also shown): — 7/6/35 31/5/35 (Per lb.) N.Z. Sheep— Canterbury and North Island Selected Crossbred

Lamb Market: Quiet with little material change in prices. Demand rather affected-by low prices of beef. Mutton Market: Wethers and ewes; trade slow with prices slightly easier. Beef Market: Affected by low prices Argentine chilled beef. N.Z. Porker Pigs: Market dull and poor demand. N.Z. Baconer Pigs: Market quiet and unchanged. In regard to the published prices realized for New Zealand lamb delivered to Smithfield Market; the New Zealand Meat Producers Board supplies the following table, giving the equivalent New Zealand parity, after deducting all costs, including selling commission. The costing is based on Saturday’s estimated skin values and includes exchange at current rates. The calculation is on the basis of a prime woolly lamb weighing, say 341bs delivered at freezing works:— If Price Delivered N.Z. “overall” parity to Smithfield is: Delivered at works (approximately) (d. per lb) (d. per lb) V 7 7.59 6 1 7.44 6t 7.29 Note: In the above estimate the cost of killing, freezing, and placing on board steamer is based on a charge of ,575 d per lb. BORING AT WAIPORI. BRITISH FIRM'S ACTIVITIES. If the present activities of an English business firm, British Developments, Ltd, are successful there is a probability that Waipori, which , was the scene of extensive gold mining many years ago, will, within a year or two, regain at least some of its former glory. Prospecting has recently been carried out, and as the area is under the control of the Dunedin City Corporation, application has been made for prospecting rights. The Electric Power and Lighting Committee will recommend to the council on Monday night that applications be granted, under certain conditions, and safeguards. Inquiries disclose that the applications made by the company are connected with the proposed construction of an alluvial gold dredge to work an area of about 1000 acres. One boring machine has been working on the sight for the last six weeks, and it is intended to put other machines into operation shortly. The scheme is still in its early stages, and will only be proceeded with if the results of the boring operations are satisfactory.

Wethers and Maiden. Ewes— 48/56 4J 41 57/64 33 3f 65/72 3g 3i North Island do— 48/56 4 41 57/64 33 3| 65/72 31 3j Ewes—• 48/under 3g 34 48/64 21 21 65/72 2B 2§ N.Z. Lambs— Canterbury— 36/under 61 7 37/42 6J 7 43/50 6| 63 2nd Quality do— Average 32 64 61 Other South Island Brands— 36/under 7 7 37/42 7 7 43/50 63 . 63 Selected North Island brands, including Downs— 36/under 7 7 37/42 7 7 43/50 63 63 2nd Quality do— Average 32 6{ Gg Other N.I. Brands, 1st quality— 36/under 63 63 37/42 63 63 Second Quality do— Average 32 6J 61 Australian Lambs— Victorian, 1st Quality— 36/under 53 53 37/42 5J 5| Argentine Lambs— 36/under 5g ‘51 37/42 53 5J N.Z. BeefOx fores 3 3 Ox hinds 34 4 Argentine Chilled Beef— Ox fores 34 34 Ox hinds 43 51 Australian Frozen Beef— Ox crops, over 100 31 33 Ox hinds, over 160 4 41 N.Z. Prime Porker Pigs— 60/80 54 5| 81/100 51 5J 101/120 51 53 N.Z. Baconer Pigs— 120/160 5t 53