COMMERCIAL

Southland Times, Issue 22731, 6 November 1935, Page 3

COMMERCIAL

McNAB STOCK SALE. The entry at the fortnightly McNab stock sale yesterday included a large number of cattle, with a preponderance of dairy cattle. The sheep entry lyas made up entirely of stores, ewes and lambs selling at from 12/6 to 13/3. Fat cattle were in keen demand, prices for bullocks reaching £7 15/-, steers £4 15/-, cows £7 17/6 and heifers £6. The inquiry for dairy cattle was not strong ani. the numbers exceeded the demand. Good quality sorts made up to £5 5/-, with young heifers at proportionate rates. Sales were as follows: — Wright, Stephenson and Co., Ltd.—6B ewes and lambs at 12/6, 2 fat steers at £4 15/-, 1 fat heifer at £6, 1 fat cow at £7, fat heifers at £3, £3 15/- and £5. Passed in: 10 f.m. ewes at 12/3, 1 fat steer at £2 5/-, 2 store heifers at £2 1/-, 1 store heifer at £2 10/-. National Mortgage and Agency Co., Ltd.—92 ewes and 120 lambs at 13/3,101 ewes and 125 lambs at 13/6. Passed in: Dairy cow at £2, dairy heifers at £4 10/- and £4 5/-. Southland Farmers’ Co-operative Association, Ltd.—s 3 ewes and 48 lambs at 9/6, 1 fat cow at £3 5/-, dairy cows at £2, £4 7/6, £5 5/-. Passed in: 1 dairy cow at £4, 1 dairy heifer at £1 17/6. Dalgety and Co., Ltd.—B 2-year-ola steers at £4 8/-, 15 yearling steers and heifers at £2 11/-. Passed in: 1 dairy cow at £1 10/-, do at £4. J. E. Watson and Co., Ltd.—6 empty heifers at £2, 3 yearling steers at £3 : fat bullocks at £7 15/- and £6 10/-, fat cows at £7 17/6, £7 7/6, £5 2/6, 1 dairy cow at £l.

HIGH PRICE FOR FLOCK EWES.

(Per United Press Association.) Ashburton, November 5. The highest price for flock ewes in the Ashburton County for many years was obtained at a clearing sale at Lauriston, 202 Corriedale ho""ets bringing 47/- each. They were of exceptionally good quality, being evenly woolled and well-grown. Ninety-three realized 44/3 and 63 44/-. FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, November 5. The following mean closing rates of foreign exchanges were quoted to-day

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales quoted the following rates tor its purchases and sales on overseas currencies yesterday (all rates subjected to alteration without notice):—

LONDON MARKET REPORTS. (United Press Assn.—Telegraph Copyright.) London, November 4. Shares: New Guinea, 4/9. The Bradford tops market is quiet but firm. Rubber: Stocks in London, 94,178 tons: Liverpool, 76,363 tons. Wheat cargoes are firmer, while parcels are in small request, but easier. Futures—London, February, 25/4; April 25/2J; Liverpool, December 6/2, March 5/101, May 5/9f. The Department of Agriculture has received the following cablegram, dated November 2, from the High Commissioner for New Zealand, London: — Tallow: Spot market quiet; values unchanged. Manila: Market idle and easier with second-hand sellers. “K” grade £23 10/-. Sisal: Market quiet and steadier at the close. Mo. 1 for November-Decem-ber shipment sold at £25 15/-; for January-March shipment sold up to £26 7/6. New Zealand: Market quiet; orders and offers scarce. Nominal value on the basis of high points' is £23. Eggs: Market quiet English: Scarce; prices have advanced. Imported: Slightly easier. English—National pack, 18/6 to 24/6; ordinary pack, 19/6 to 21/6. Danish, 13/6 to 15/6; Australian, 11/to 12/6. Peas: Maples: Market very quiet. New Zealand: On sample afloat sold 52/6; No. 1 for October-December shipment 53/9 at close. Sellers offer for November shipments 53/-. “A” grade

Tasmania afloat sold 54/-. New crop Tasmania for February-March shipment offered 50/-. New Zealand for March-April shipment 49/-; buyers ideas 2/- less. Blues: Poor demand. “A” grade Tasmanian for November-December shipment sold £lO 10/-. SYDNEY STOCK EXCHANGE. A BUOYANT TONE. (United Press Assn.— Telegraph Copyright.) (Rec. 8.55 p.m.) Sydney, November 5 The Stock Exchange was buoyant today with heavy trading. Leading industrial issues commanded firm to higher prices and bank shares were

Tire Melbourne Stock Exchange was closed owing to the Cup holiday. SYDNEY WOOL SALES. FRESH RECORD FOR SEASON. (United Press Assn.—Telegraph Copyright.) (Rec. 10.45 p.m.) Sydney, November 5. At the wool sales 11,441 bales were offered and 10,995 sold, 414 being disposed of privately. All the best features of the previous day’s sale were reproduced with a particularly strong inquiry for good spinning descriptions, which were inclined to rule in sellers’ favour. Yorkshire, Japan and the Continent operated freely. Greasy Merino sold to 23Jd, which constituted a fresh record for the season. METAL QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 8.55 p.m.) London, November 4. Metal quotations are as follows: — Oct. 31. Nov. 4.

WAIPAPA BEACH. (Per United Press Association.) Dunedin, November 5. The Waipapa Beach Gold Dredging Company return was 15 ounces for 53 hours’ dredging. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, November 4. The price of gold is quoted at £7 1/5 per ounce. DUTCH BANK RATE. (United Press Assn.—Telegraph Copyright.) Amsterdam, November 4. The bank rate has been reduced to four per cent. BEET SUGAR PRODUCTION. (United Press Assn.—Telegraph Copyright.) London, November 4. It is stated that the 12 months’ beet sugar production was 5,852,063 tons. It is estimated that as a result of the campaign the 1935-36 production, including Russia, will amount to 8,237,500. THE DOLLAR AND THE FRANC. (United Press Assn.—Telegraph Copyright.) London, November 4. The dollar is quoted at 4.92 J and the franc at 74} to the £ sterling..

compared with par:— Par. To-day. Paris, fr. to £ 124.21 74 45-64 New York, dol. to £ 4.886 4.92 5-16 Montreal, dol. to £ 4.886 4.96J Brussels, belgas to £ 35 29.14 Geneva, fr. to £ 25.221 15.14 Amsterdam, fl. to £ '12.107 7.25 Milan, lira to £ 20.43 60j Berlin, rmk. to £ 24.42 12.24 Stockholm, kr. to £ 18.159 19.391 Copenhagen, kr. to £ 18.159 23.391 Oslo, kr. to £ 19.159 19.091 Vienna, schgs to £ 34.585 26 Prague, kr. to £ 164.25 119 Helsingfors, m. to £ 193.23 226J Madrid, pesetas to £ 25.2215 36 1-16 Lisbon, escudos to £ 110 1103 Athens, dr. to £ 875 512 Bucharest, lei to £ 818.6 624 Belgrade, dinars 275.31 215 Rio de Janeiro, p. to milreis 8.982 4J Beunos Aires, p. to dol. 45.577 15 Montevideo, p. to dol. 57 39 11-16 Bombay, p. to rupee 10 18J Shanghai, p. to dol. 14 9-16 Hong Kong, p. to dol . 183 Yokohama, p. to yen 24.57 14 3-32 Batavia 7.20g Warsaw — 26.06

New Zealand on Buying Selling L °?N > .Z. to £100stg. T.T. 124 124/10/O.D. 123/10/ 124/8/9 Australia — £A to £100 N.Z. T.T. 101 100/10/O.D. 101 100/10/Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— 8 3.94 3-8 Dollars to £1 N.Z. T.T. 3.98 3O.D. 3.99 58 3.94 7-8 Montreal — Dollars to £1 N.Z. T.T. 4.02 3.98% O.D. 4.03% 3.98% France — 59.39 Francs to £1 N.Z. T.T. 60.69 O.D. 60.99 59.44 Noumea — Francs to £1 N.Z. T.T. 61.64 58.64 O.D. 62.04 58.69 Papeete— Francs to £1 N.Z. T.T. 61.64 58.64 O.D. 62.04 58.69 Belgium— Belgas to £1 N.Z. T.T. — 23.103 O.D. — 23.627 Germany— Reichmarks to £1 9.622 N.Z. T.T. — O.D. — 9.627 Italy— Lire to £ 1 N.Z. T.T. — 48.09 O.D. — 48.13 Switzerland — N.Z. T.T. 12.387 11.987 Francs to £1 O.D. 12.462 11.997 Holland— Florins to £1 N.Z. T.T. 5.958 5.708 O.D. 6.008 5.712 Java — 5.690 Florins to £1 N.Z. T.T. 5.915 O.D. 5.965 5.694 Japan— N.Z. pence to yen 1 T.T. — O.D. — 17 11-16 17 43-64 Shanghai— N.Z. pence to 1 dollar T.T. 17 9-16 18 7-8 O.D. 17 7-16 18 13-16 India and Ceylon— N.Z. pence to rupee 1 T.T. 22 3-8 22 23-32 O.D. 22 % 22 21-32 Hong Kong— N.Z. pence to 1 dollar Nominal. Singapore— N.Z. pence to 1 35 5-16 dollar T.T. 34 3-8 O.D. 34% 35% Sweden— 15.460 Kroner to £1 N.Z. T.T. 15.790 O.D 15.830 15.470 Norway— Kroner to £1 N.Z. T.T. 16.201 15.871 O.D. 16.241 15.881 Denmark— 17.878 Kroner to £1 N.Z. T.T. 18.208 O.D. 18.248 17.888 Austria— Schillings to £1 20.68 N.Z. T.T. — O.D. — 20.70 Czechoslovakia — 95.01 Crowns to £1 N.Z. T.T. — OD. — 95.06 ■

in greater request. Sales: — £ s d Bank of New South Wales 33 2 6 Commercial Bank of Sydney 17 19 0 Union Bank 9 8 6 Bank of New Zealand 2 10 3 Colonial Sugar 44 5 0 Australian Gas 7 16 0 British Tobacco 2 0 6 Tooth’s 2 19 0 Newcastle Gas (A) 12 9 Edwards Dunlop 2 3 6 H. McKenzie 5 3 Marcus Clark 9 1 Spencers 7 10 United Provisions 11 10 Sargents 1 3 0 Morts Dock 6 10 W. R. Carpenter (con.) 1 13 0 Goodyear (pref.) 1 11 9 Dunlop Perdriau 16 10J Winchcombe Carson 1 9 9 Wilcox Mofflin 10 4 Moms Hedstrom 1 4 0 Electrolytic Zinc 1 15 li David Jones 2 0 3 . Anthony Hordern 19 la Anthony Hordern (pref.) 1 4 0 Standard Cement 1 1 6 General Industries 19 6 Mt. Lyell 1 0 6 South Broken Hill 5 3 0 North Broken Hill 8 10 0 Rawang Tin 8 10 Mt. Kasi 17 6 Mt. Paris Tin Commonwealth Bonds (4 per 3 8

cents.) — 1938 102 15 0 1941 104 0 0 1944 102 5 0 1950 104 0 0 1953 1C4 3 9 1955 104 8 9 1959 103 0 0 1961 103 10 0

Copper34 18 Standard spot 35 0 0 9 Forward 35 6 104 35 6 104 Electrolytic 39 5 0 39 15 0 to 39 15 0 40 5 0 Wire Bars 39 15 0 40 5 0 Lead—• 17 10 Spot 17 7 6 0 Forward 17 7 6 17 10 0 Spelter— Spot 16 7 6 16 1 3 Forward 16 7 6 16 7 6 TinSpot 223 10 0 223 10 0 Forward 212 15 0 212 7 6 Silver— Fine, per oz. 29 5-16d 291d Standard, per 31Jd ' a oz. 31 5-8d