COMMERCIAL

Southland Times, Issue 25362, 14 August 1935, Page 2

COMMERCIAL

THE SHARE MARKET. INVERCARGILL STOCK EXCHANGE. GOVERNMENT SECURITIES FIRM. The feature of yesterday’s call-over on the Invercargill Stock Exchange was the continued firmness of Government securities and bank shares. Sales were reported in Woolworths (N.Z.) at £l4 5/- and Nationl Banks at £3 11/10. Prices were quoted as follows: Government Debentures.

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, August 13. Sales on- ’Change: Bonds, 1940, 4 per cent., £lOl 15/-; Bonds, 1946, 4 per cent., £109; Bonds, 1949, 4 per cent., £110; Bonds, 1955, 4 per cent., £ll2 12/6; Stock, 1946, 4 per cent., £109; Stock, 1949, 4 per cent., £llO (2); Stock, 1955, 4 per cent., £ll2. 12/6; .Commercial Bank of Australia 17/8 (2); English, Scottish and Australian Bank £5 13/9; Bank of New Zealand 51/8 (2); Australian Provincial Assurance 22/7; New Zealand Insurance 66/6; South British Insurance 96/6; North Auckland Farmers’ Co-operative (B pref.) 10/-; Broken Hill Proprietary 68/3, 68/6; Claude Neon (Sydney) 53/-; Consolidated Brick 11/6 (2); Dominion Fertilizer 24/3; Dunlop Perdriau Rubber 16/-; Farmers’ Fertilizer 20/3; Union Oil 30/6; Waihi Junction 3/11. Unofficial: Woolworths (Sydney), £5 17/9, £5 18/3. Wellington, August 13. Sales on ’Change: Inscribed Stock, 3| per cent., 1939-1952, £lO9 (late Monday; Inscribed Stock, 4 per cent., 1946, £109; Inscribed Stock, 4 per cent, 1955, £ll2 10/-; Commercial Bank of Australia 17/7; English, Scottish and Australian Bank £5 12/6; Bank of New Zealand (D mortgage) 33/3; Union Bank £9 10/-, £9 11/- (2); Mortgage Corporation 6/9 (late Monday); New Zealand Refrigerating (10/- paid) 9/11; Leyland O’Brien 23/9 (late Monday). 23/9, 23/7|; Dominion Breweries 15/01, 15/2 (both late Monday); Broken Hill Proprietary 68/3 (late Monday), 68/3 (2), 68/7; Consolidated Brick 11/6; Electrolytic Zinc 29/9 (late Monday); Howard Smith 18/2; New Zealand Newspapers 40/- (late Monday); Mount Morgan 41/-, 41/4 (2). Unofficial: Woolworths (Sydney) £5 19/- (2), £5 18/6. Dunedin, August 13. Sales on ’Change: Bank of New Zealand (long D) £1 13/3; Union Bank £9 10/- (3); New Zealand Refrigerating (contr.) 9/11; Consolidated Brick 11/5| (2); Dominion Fertilizer £’ 4/3; New Zealand Paper Mills £1 12/-; Stock, 1943-1946, 4 per cent., £lOB 10/-.

LORNEVILLE STOCK SALE. FAT EWES IMPROVE 2/-. ANOTHER GOOD MARKET FOR FAT CATTLE, A rise in fat ewe values, an improvement in store sheep prices, and another good cattle market made yesterday’s Lorneville stock sale a satisfactory one from most points of view. There was an over-supply of wethers and prices dropped. The ewes were weaker numerically than they have been for a number of sales past, and prices accordingly improved about 2/- on last week’s sale. The yarding of store sheep was above the average, but the market was good. The cattle all over were at least on a par with last week’s market, any difference that there might have been being an improvement. The fat cattle quality was not up to the standard of last week, but it was very fair all the same and the market was bright. The yardings compared with those of last week we're as follows: — Aug. 13. Aug. 6. Store cattle 169 , 172 Fat cattle 139 164 Store sheep 880 602 Fat sheep 490 1014 Included in yesterday’s yarding were 60 dairy cows and two vealers. Store Sheep.—Although there was a larger yarding than usual, this section met quite a good market. A line of four, six and eight-tooth ewes brought £1 10/2, and a pen of two-tooth ewes of sound mouth with a few broken mouths sold at £1 9/1. Full-mouthea ewes sold up to 18/9 and older sorts brought from 7/6 to 10/10. Mixed sex hoggets were bought at 18/7, a small pen of ewe hoggets bringing £1 3/2 and a pen of good wether hoggets in first class condition 18/-. A pen ol lighter sorts realized 12/6. Fat Sheep.—Another good yarding of fat sheep comprised mainly wethers, the number of ewes entered being the lowest for a considerable time. The supply of wethers was greater than local butchers required, with the result that passings were frequent and prices were a little easier. The demand for ewes was good and prices firmed by about 2/- a head. Prime quality medium weight wethers brought from £1 5/-‘ to £1 6/-, handyweights from £1 2/6 to £1 3/9, c light and unfinished down to £1; prime heavy ewes up to £1 1/-, good quality 17/6 to 19/-, mediums 15/6 to 16/6, and unfinished down to 13/-. Store Cattle—With the exception of a special entry of two pens, the yarding comprised empty cows and heifers. The special entry was 58 two-year-old steers and heifers, the steers bringing £3 15/- and the heifers £3 2/-. There was poor competition for empty cows and heifers, prices ranging from £1 to £1 12/6. The usual culled sorts sold down to 10/-. Dairy Cows—There was a good yarding of dairy cows, but buyers were not particularly interested. A special entry from the Winton district averaged about £2 15/-. Good cows in profit brought from £3 15/- to £5 5/-, and it was not easy to sell other cows coming in for the factory at prices from £1 5/to £2. Fat Cattle.—Cows and heifers made up the bigger portion of a full yarding. The entries were a little below the standard of last week’s sale, but it was still fair and the market was brisk. Prime heavyweight bullocks brought from £lO 10/- to £l2, prime quality handyweights £8 15/- to £9 15/-, lighter weights down to £7 10/-; prime quality heifers up to £8 5/—, good quality medium weights £5 15/- to

£6 15/-, lighter weights £4 15/- to £5 10/-; good quality heavy cows up to £7 5/-, medium quality £5 10/- to £6 5/-> and aged and inferior down to £3 5/-. McNAB STOCK SALE. At the fortnightly McNab stock sale yesterday there was a 'moderate entry of sheep, cattle and horses. Buyers operated freely in all sections, prices being on a par with recent sales in most cases, except for fat cattle, in which prices were firmer than a fortnight ago. The entry of fat sheep was unusually small and no sales were effected at auction. In the store pens a few old breeding ewes sold at from 8/1 for failers, 10/- for sound-mouths and from 15/6 to 17/- for younger sorts in good condition. Prime bullocks realized up to £8 15/- with lighter sorts down to £6 15/-. A few light and heavy horses were offered, sales being effected at up to £39, with other prices down to £27 10/-. Sales were:— Wright, Stephenson and Co., Ltd.— Fifteen sound-mouth ewes at 20/-, 45 full and failing-mouth ewes at 15/6, 1 9-year draught mare at £27 10/-, hack- mare at £lO 10/- dog at £3 5/-. Passed in: 1 8-year draught gelding at £33, 1 7-year half-draught mare £l9. National Mortgage and Agency Co., Ltd.—34 failing-mouth ewes at 14/7. Passed in: 24 fat ewes at 13/-. J. E. Watson and Co., Ltd.—Two fat bullocks at £8 15/-, 4 do. at £8 7/6, 2 do. at £6 15/-. Southland Farmers’ Co-op. Association, Ltd.—Twenty full and failingmouth ewes at 17/-, 82 failing-mouth ewes at 8/1, 93 mixed sex hoggets at 16/1, 1 dairy heifer at £3, 1 colt at £26 10/-, 1 filly foal at £32 10/-, 1 3-year filly at £39, 1 aged mare at £7 10/-, 1 filly at £l9, 1 foal at £l6. Passed in: 40 failing-mouth ewes. DAIRY COWS. SALE AT EDENDALE. Messrs Wright, Stephenson and Co., Ltd., report having held a successful sale of dairy cows at the Edendale saleyards on Monday. The attendance of farmers was small, but nearly all were buyers, with the result that the complete entry was sold. The following are some of the prices: Account W. K. Inglis, cows £6, £5 15/-, £5 12/6, £5 7/6, £5 5/-, £5 (2), £4 15/- (2), £4 10/- (2), £4 5/(2), £4, £3 12/6, £3 10/-, £3 (4), £2 10/-; account Walter Sutherland, cows £4 5/-, £4, £3 15/-, £3 5/-, £3 2/6 (4), £3 (6), £2 10/-, £2. RABBITSKIN SALE. ADVANCED PRICES RULE. • (Special to the Times.) Dunedin, August 13. Messrs L. Beaumont, Ltd., report as follows on the sale of rabbitskins held to-day:— Large catalogues were offered to a full bench of buyers. Competition was very keen, and prices compared with those of the last sale showed a rise of 3d. to 4d. a lb on all grades of bucks, while the advances on doe skins ranged from 3d. to 6d. a lb. The following is the range of prices: Prime bucks, 98d. to 99d; prime does, 63d. to 64d; best bucks, 91d. to 92d; best does, 60d. to 60|d; second bucks, 82d. to 83d; second does, 50d. to 51d; spotty bucks, 73d. to 74d; spotty does, 43d. to 451 d; outgoing bucks, 65d. to 68d; outgoing does, 35d. to 36d; spring bucks, 49d. to 50d; spring does, 23d. to 24d; first winter broken, 361 d. to 372 d; second winter broken, 241 d. to 25,id; summer bucks, 21£d. to 23Jd; summer does, 17d. to 18? d; blacks, 18d. to 19d; runners, 15d. to 16d. MINING REPORTS. WAITAHU. (Per United Press-Association.) Dunedin, August 13. The Waitahu partial wash-up in No. 4 paddock was 250 z 3dwt. The elevator operated 36 shifts of eight hours each. MINING VENTURES. NECESSITY FOR CERTIFICATE CONSIDERED. (Per United Press Association.) Christchurch, August 13. The Hon. C. E. Macmillan, Minister of Mines, said to-day that he contemplated making it necessary that a Government certificate should be attached to all prospectuses issued for mining ventures —a certificate from a competent source which would be a definite safeguard for those intending to invest on the strength of the details contained in such a prospectus. SYDNEY STOCK EXCHANGE. PRICES AT HIGHER LEVELS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.20 p.m.) Sydney, August 13. On the Stock Exchange to-day business was again heavy and the prices of the most active issues went higher.

WHEAT CARGOES. London, August 12, Wheat: Cargoes are steady, while parcels are quiet and unchanged. Futures —London: September 23/3. Liverpool: October, 5/2|; DecemberMarch, 5/2.

Stock, 3? p.c., 1938-43 Buyers. Sellers. £ 105 s d £ s d 0 0 Stock, 3| p.c. 1938-52 108 10 0 Stock, 31 p.c., 1939-43 105 0 0 Stock, 3J p.c., 1939-52 108 10 0 — Stock, 4 p.c., 1940 — 102 10 0 Bonds, 4 p.c., 1940 —- 102 10 0 Stock, 4 p.c., 1943 108 10 0 — Bonds, 4 p.c., 1946 108 10 6 Stock, 4 p.c., 1949 109 0 0 Bonds, 4 p.c., 1949 109 0 0 — Stock, 4 p.c., 1955 112 0 0 — Bonds, 4 p.c., 1955 112 0 0 — ' Banks. Commercial 0 17 5 — National of Australia 6 15 0 — - E.S. and A. Bank 5 14 0 -—4- —— National of New Zealand 3 11 9 — New South Wales 33 5 0 — New Zealand — 2 12 0 New Zealand Long “D” issue —— 1 13 9 Reserve Bank of New Zealand 6 10 0 Union of Australia 9 8 0 — Breweries. N.Z. Breweries (Shares) — 2 13 6 Tooth’s Brewery 2 15 0 Coal. Kaitangata 0 19 6 — Westport Coal 1 2 0 1 2 b Westport Stockton (pref.) — 0 4 0 Insurance. National 1 0 6 — Standard 3 12 0 3 13 0 Loan and Agency. National Mortgage 2 14 0 -— Wright, Stephenson and Co. (ord.) 0 18 3 — (pref.) 1 0 0 1 0 6 Mortgage Corporation — 0 6 11 Meat Companies. N.Z. Refrigerating (20/- paid) 1 0 6 1 0 11 (10/- paid) 0 9 11 — — South Otago Freez ing Co. 6 16 0 — Southland Frozen Meat (£1 ord.) 3 16 0 — (10/- orl.) 1 18 0 ----- (£1 pref.) 3 16 0 Shippin; Union Steam Ship Co. (pref.) 1 7 4 — Miscellaneous. Associated News — 1 4 3 Australian Iron and Steel 1 4 0 — British Tobacco (Aust.) 2 0 0 —— Cgionial Sugar Co. DT.C. (pref.) 45 0 0 1 6 0 Dominion Fertilizer — 1 5 0 Dominion Rubber Co. — 1 9 0 Donaghy’s Rope and Twine 2 13 0 Milbum Lime and Cement ■- — 2 7 3 N.Z. Drug — 4 4 6 N.Z. Farmers’ Fertilizer ——— 1 1 0 N.Z. Guarantee Corporatio.. 0 5 10 — N.Z. Paper Mills —— 1 13 0 Woolworths (Sydney) 5 17 0 -— Woollen Mills. Kaiapoi (pref.) — 0 19 9 Mosgiel 11 0 0 Mining Bendigo Goldlight — 0 0 8 Broken Hill 3 6 6 — Big River 0 1 11’ 0 2 2 Electrolytic Zinc (ord.)' 1 9 6 — (pref.) 1 16 3 —— Gillespie’s Beach — 0 1 5 Golden Sands 0 3 0 Goldfields Dredging 0 0 3 — Kildare 0 2 11 King Solomon — - 0 3 11 Mount Lyell — 1 0 6 Moonlight Nelson 0 0 1

Mount Morgans Nokomai Okarito Skippers Waitahu Sandhills Maori Gully 2 0 6 0 2 0 0 6 0 0 3 0 0 0 6 0 150 0 2 0 1 2J

Sales:— d £ s Bank of New South Wales 34 10 0 United Insurance Australian General Insur13 0 0 ance Australian Provincial Associ17 0 ation 1 3 0 Howard Smith 18 9 Burns, Philp 3 7 6 Australian Gas (A) 8 5 0 British Tobacco ' 2 0 9 Tooth’s 2 16 Australian Iron and Steel 6 (pref.) 1 6 3 Australian Glass 3 18 3 Dunlop Perdriau 16 0 Winchcombe Carson 1 10 0 Morris Hedstrom 1 4 0 Henry Jones 1 19 3 Electrolytic Zinc 1.10 0 Farmers 1 7 101 David Jones 2 2 6 Anthony Hordern 1 0 41 General Industries 1 0 0 James Stedman 19 71 W. R. Carpenter 2 3 0 Victoria Nyanza 5 Woolworths (first pref., New 11 Zealand delivery) 2 3 6 Millaquin Sugar 1 18 3 Mt. Morgan 2 1 0 Broken Hill Pty. 3 8 3 South Broken Hill 5 1 6 North Broken Hill 7 5 0 Kuala Kampar 14 4 Malim Nawar 17 9 Commonwealth Bonds (4 per cents) —— 1938 103 10 0 1941 103 12 6 1944 104 10 0 1947 105 15 0 1950 106 2 6 1953 104 7 6 1958 104 15 0 1957 104 18 6 1959 105 18 9 1961 Melbourne Sales. 106 0 0 Commercial Bank of Australia 17 10 National Bank (£5 paid) 7 0 0 National Bank (£10 paid) 14 2 0 Goldsbrough Mort 1 14 0 Mt. Lyell 1 0 3