MONEY AND MARKETS

Southland Times, Issue 23199, 14 May 1937, Page 3

MONEY AND MARKETS

CITY MARKETS

Many Oats Poor In

Quality

WHEAT PROSPECTS NOT BRIGHT Oats. —Samples of new season’s oats are coming to hand slowly. Although discoloured, some are acceptable for milling, but there are many of inferior quality. The oats generally are or much lighter bushel weight than usual. Harvesting operations are still proceeding, but if the fine weather continues probably most of the oats will be got into stack. Value to farmers for shipping purposes is 3/- a bushel lor A’s and 2/10 for B’s. The current value for milling purposes, irrespective ot grade, runs up to 3/-, according to weight and quality. Wheat.—So far there has been very little Southland wheat offering. It is unlikely that any will be fit for milling. In the meantime supplies for tne local poultry trade are being drawn from other centres. . Chaff.—There is no business being done for shipment, and the local demand is restricted. The new seasons chaff will probably be dark and of poorer quality than usual. Any goon lines of Southland chaff are saleable at up to £4, o.t.c.s. Ryegrass.—There is very little ryegrass offering, and practically the whole of the crop seems to have been destroyed by the weather. Most of the lines offering are light and of poor quality, w’th low germination, is a certain amount of old season s ryegrass held, and as this is of good quality and high germination, merchants are retaining it for the spring trade. Other seeds.—Some rather _ good samples of Brown Top are coming o hand, but reports indicate that the quantity harvested is below normal. Value to farmers for machine-dressed seed of export quality is 1/- a pound for certified, and lOd to lid for uncertified. There is practically no clover or Crested Dogstail offering in Southland. The bulk of the crop seems to have been destroyed. Offerings ot Chewings Fescue have eased. Lines threshed from stook have been dealt with, and threshing of lines in stack have not yet begun. Good bright quality lines, of which there are nO ?Y very few available, are worth from 9a to lOd a pound from the mill. A good portion of the seed is badly discoloured and value for this quality ranges from 7d to Bd. Potatoes.— Offerings of mam crop varieties are very scarce, and nigh prices are ruling on the local market. The demand for shipment is not very active as it is reported that the Noith Island will have sufficient supplies for a time. Value to farmers for shipment can be quoted at £5 o.t.c.s. Fruit and Vegetables

Business in the fruit markets continues to be quiet. Oranges are still in short supply and there is no information yet when the next lot can be expected in Invercargill. Bananas have been selling very well. Ripe bananas will be scarce during the week-end. The Maui Pomare shipment, which arrived yesterday, was m excellent condition and should be available for sale early next week. There is a better demand for lemons and also for grapefruit. A few small lots of tomatoes are still arriving from Canterbury and are realizing high prices. Choice quality apples are being taken up on arrival but the majority still consist of inferior grades. Cauliflowers are in demand at high prices. Cabbages are now less plentiful and should advance in price. Parsnips and carrots are selling readily and it is anticipated that supplies will be short in the near future. Marrows and pumpkins are difficult to procure and odd lots are quickly snapped up. Prices may be quoted as follows:— Apples.—Cookers, 4/- to 6/-; Coxs Orange, 7/- to 10/-, Jonathans and Delicious, 5/- to 8/-. Tomatoes.—Choice, to 9d. Pears—3/6 to 4/- a box. Cauliflowers.—6/- to 9/- a sack. Cabbages.—2/6 to 3/6. Carrots and parsnips.—To ljd a lb. Celery.—4/- to 6/- a dozen. Suedes.—l/6 to 3Z- a bag. Marrows and pumpkins.— to 2d a lb.

MERCHANDISE PRICES WHOLESALE Eggs.—Town, 2/6. Bran. —£6 a ton. Butter—First grade, 1/3; second grade, 1/2; separator, lid. Oatmeal.—2s’s £27 a ton; 200’s £25 a ton. Pollard.—loo’s. £7 10/- a ton; 15ffs, £7 5/- a ton. Flour.—2oo’s, £l3 15/6 a ton; 100’s, £l4 12/6 a ton; 50’s, £l4 17/6 a ton; 25’s. £l5 7/6 a ton. RETAIL Eggs.—3/-. Bran. —7/6 a 1001 b. Butter.—l/4J to 1/SJ; separator, 1/1. Flour.—2s’s 4/6; 50’s 8/6; 100’s 16/-. Oatmeal.—2s’s 7/9; 50’s 15/3. Pollard.—9/- a 1001 b. Onions.—Blb for 1/-. Potatoes.—lolb to 121 b for 1/-. mining returns CLUTHA RIVER COMPANY (United Press Association) DUNEDIN, May 13. The Clutha River Company’s dredge commenced operations last week in the Molyneux River, about three miles below Alexandra. The dredge worked 107 hours and recovered 450 z of gold. MORE WHEAT SOWN NEW SOUTH WALES CROP SYDNEY. May 7 A substantial increase in the acreage sown in wheat this season is reported throughout New South Wales. In some centres the wheat areas will be from 45 to 50 per cent, greater and in others at least 15 to 20 per cent. The use of tractors and high-powered head-lights for “round the clock” farming, is becoming a commonplace, according to Mr Mark Reynolds, agricultural inspector in the northern district This unbroken night work at seeding time enables the farmer to avoid the hazards of weather changes. In one section of the north-west, many thousands of acres of new land have been prepared, with a view to seeding as soon as satisfactory rains fall. In some districts seeding is well advanced, while in others the farmers have delayed sowing because of unfavourable soil conditions and the prevalence of late swarms of grasshoppers. Generally the operations are well advanced, and a good fall of rain is urgently needed. In the early districts some crops have already germinated.

SHARE MARKET

INVERCARGILL STOCK EXCHANGE GOVERNMENT SECURITIES STILL STRONG The market for Government securities remained strong at the call-over on the Invercargill Stock Exchange yesterday. Banking shares were quiet, and the market all round was steady. Quotations were as follows:— Government Dcbenturbs Buyers Sellers

SYDNEY PRODUCE MARKETS (Received May 13, 10.30 p.m.) SYDNEY, May 12. Wheat is nominal in the absence of buying inquiries. Sellers are quoted at 5/4J a bushel and buyers at 5/4 for silo grain; country holders are not selling. Flour.—£l3 a ton. Bran.—£6 10/- a ton. Pollard.—£7 a ton. Potatoes.—Tasmanian, £5 10/- a ton; others, £4. Onions.—Brown, £lO 10/- a ton; white, £lO. Maize.—Yellow, 5/8 a bushel; white, 5/9.

£ s d £ s a Stock 3| p.c., 1938-43 100 10 0 Stock 3| p.c., 1938-52 102 10 0 ■' ■' - Stock 3| p.c., 1939-43 100 10 0 "" Stock 3J p.c.. 1939-52 102 10 0 ■ Stock, 4 p.c., 1946 103 0 0 Bonds, 4 p.c., .1946 103 0 0 ■ — Stock, 4 p.c., 1949 103 0 C Bonds, 4 p.c.. 1949 103 0 0 Stock, 4 p.c., 1955 104 0 0 . Bonds. 4 p.c 1955 104 0 0 Banks Commercial 0 19 2 E. S. and A. Bank 6 12 0 National of New Zealand 3 2 6 — New Zealand 2 3 9 ——— Union of Australia 11 3 0 Breweries New Zealand Breweries 2 19 6 2 19 9 Staples Brewery 1 15 9 Coal Kaitangata 116 1 3 0 Westport Coal 14 3 Insurance National 0 17 6 — Standard 3 0 0 Loan and Agency Goldsbrough Mort and Co. 1 18 1 National Mortgage 2 11 0 Trustees’ Executors (Dunedin) 3 13 0 1 — Wright, Stephenson (ord.) 10 0 (pref.) 1 u ? b Meat Companies N.Z. Refrigerating (20/- paid) 0 19 3 (10/— paid) 0 8 11 — Southland Frozen Meat (ord. and pref.) 3 14 0 — Shipping Howard Smith 1 3 9 Union Steam Ship Co. (pref.) 16 9 — P. and O. Stock 2 0 0 — Woollen Mills Bruce 0 11 6 Miscellaneous Brozen Hill Pty. 4 4 0 —— Colonial Sugar Co. 45 2 6 • G. J. Coles 5 9 0 D.I.C. (pref.) 13 9 Dominion Fertilizers 13 9 Dunlop Rubber (Aust.) 1 1 3 Milburn Lime and Cement 1 17 6 New Zealand Drug 3 15 6 New Zealand Farmers’ Fertilizers 10 9 ■ —' New Zealand Guarantee Corporation 0 4 7 Otago Daily Times 2 6 6 Wilson’s (N.Z.) Cement 1 14 0 Woolworths (N.Z.) 7 16 0 - Shillings, Ltd. 0 19 6 Mining Broken Hill South 2 13 0 Big River 0 1 11 Electrolytic Zinc (ord.) 2 18 0 ■ (pref.) 2 18 6 1' 1 Gillespie’s Beach 0 1 6* Goldfields Dredging 0 0 3 Mount Lyell 2 7 0 Mount Morgans 0 15 1 Nokomai 0 2 3 0 2 8 Okarito 0 3 3 Skippers 0 0 4 Waitahu 0 10 0 1 10 Waimumu 0 0 6 0 0 9 Waipapa 0 0 6 0 0 9 Unlisted Woolworths (rights) 4 17 6 Sales Reported Waimumu 0 1 0 Denneyslascelles 0 19 5 Denneyslascelles 0 19 6 NORTHERN EXCHANGES SALES ON ’CHANGE AUCKLAND £ s d Stock 1952-55 4 p.c. 104 10 0 North Auckland Farmers (odd lot) 3 3 Westport Stockton 2 9 do. (pref.) 4 9 Devonport Ferry 1 0 6 Northern Steam (2) 4 8 Broken Hill Propty. (2) 4 3 6 do. 4 4 0 Colonial Sugar 45 10 0 Dunlop Perdriau 1 1 2 G. J. Coles 5 15 0 do. 5 16 0 do. (2) 5 16 6 Wilson’s Cement 1 12 6 Goldfields Dredging l*/4 Mount Lyell 2 16 9 Mount Morgan 15 2 Unofficial Woolworths (Syd., rights) 5 1 0 WELLINGTON £ s <1 Taringamutu Timber (Tues.) 15 6 Staples and Co. (Tues.) 1 16 6 Broken Hill Propty. (Tues.) 4 4 3 Bums Philp (Tues.) 3 12 9 Berlei Ltd. (Tues.) 1 19 1 Martha Mine (Tues.) 18 0 4 p.c. Stock 1946 103 0 0 Abraham and Williams (pref.) 4 10 0 N.Z. Breweries 3 0 0 do. 3 9 9 Broken Hill Propty. 4 4 3 do. (4) 4 3 9 do. 4 3 6 do. 4 4 0 G. J. Coles (2) 5 15 0 do. (2) 5 16 0 Woolworths (N.Z.) 8 2 6 Mount Lyell 2 7 0 Unofficial Woolworths Ltd. 7 12 0 Woolworths Ltd. (rights) |2) 5 1 6 CHRISTCHURCH £ s d N.Z. Breweries 3 1 0 do. (2) 3 1 3 do. 3 1 6 British Tobacco 2 10 0 Broken Hill Propty. (cum. div.) 4 1 9 do. (2) 4 3 7 Electrolytic Zinc (ord.) 2 17 9 do. (pref.) (2) 2 18 3

G. J. Coles 5 15 0 do. (3) 5 16 0 do. (5) 5 16 6 do. (2) 5 16 3 do. (2) 5 16 0 do. 5 15 9 do. 6 15 6 Hume Pipe (Aust.) 19 9 Morris Hedstrom 1 9 3 Taranaki Oilfields (2) 4 11 Worksop Extended 1 5 Broken Hill South (cum. div.) 2 10 6 do. (4) 2 10 3 do. (5) 2 10 1 do. (3) 2 10 0 do. (2) 2 9 6 do. 2 9 9 Mount Lyell 2 6 9 do. (3) 2 6 8 Mount Morgan 15 0 North Broken Hill 3 15 0 do. 3 14 0 do. 3 14 3 Sales Reported N.Z. Government 3*2 p.c. Inscribed 1953-57 99 0 0 Dalgety and Co. (cum. div.) 11 2 6 do. (odd parcel) 11 1 6 Union Steamship (pref.) 1 7 3 Dunedin Brewery (cum. div.) 1 9 0 N.Z. Breweries 3 0 1 Electrolytic Zinc (ord.) 2 17 6 G. J. Coles (2) 5 16 0 Mount Lyell 2 7 0 Unlisted Alloy Steel (Aust.) 19 8 Woolworths (Syd., rights) (2) 5 3 0 do. (3) 5 3 6 DUNEDIN £ s d North Broken Hill (Tues.) 3 15 6 N.Z. Breweries (3) 3 0 0 Broken Hill South 2 10 0 Mount Lyell (4) 2 6 10 Bank of N.Z. (2) 2 4 0 Mount Morgan 15 0 SYDNEY STOCK EXCHANGE STRONG DEMAND FOR COLES SYDNEY, May 13. The Stock Exchange market generally is dull but there is a strong demand for G. J. Coles, which reached a new high level. Sales were: £ s d Bonds 4 p.c.— 1941 103 0 0 1944 101 17 6 1953 102 2 6 1955 102 2 6 Colonial Sugar 46 0 0 Commercial Banking of Sydney 22 10 0 Howard Smith 1 2 6 British Tobacco 2 11 0 G. J. Coles 5 17 0 W. H. Soul 4 6 0 Wilcox Mofflm 14 0 Victoria Nyar.za 18 3 General Industries 1 0 3 do. (pref.) 1 3 4|i Broken Hill Propty. 4 4 3 do. (new) 3 18 0 North Broken Hill 3 14 6 Zinc Corporation 6 10 0 Larut Tin 19 0 Taranaki Oil S 1 Beechworth Alluvial 9 0 Melbourne Sales The market is quiet, but J. G. Coles were in strong demand. Sales were: £ s d Commercial Bank of Australia 19 4 National Bank (£5 paid) 7 15 6 do. (£10 paid) 15 15 0 G. J. Coles 5 17 0 Dunlop Perdriau Rubber (ord.) 1 1 4 Goldsbrough Mort 1 19 0 Electrolytic Zinc (ord.) 2 17 9 Mount Morgan 15 0 Mount Lyell 2 7 3 Broken Hill Propty. 4 4 6 North Broken Hill 3 14 3 Broken Hill South 2 10 3 Zinc Corporation 6 9 0 Emperor 16 10 Loloma 1 0 Cox Brothers 3 18 6 Yarra Falls (rights) 9 0