BURNSIDE STOCK SALE

Southland Times, Issue 23378, 9 December 1937, Page 11

BURNSIDE STOCK SALE

Recovery In Cattle • Prices KEEN COMPETITION FOR FAT LAMBS (United Press Association) DUNEDIN, December 8. The marked easing in the price of fat cattle at the Burnside stock sale a week ago was partly made up today when good quality cattle brought from 15/- to £1 more than at the previous sale. There were 254 head entered, only a few trucks of best quality being included. Medium weight bullocks failed to improve, but other classes were much firmer. Extra prime bullocks made to £lB 2/6, prime £l6 5/to £l7 12/6, medium £ll 17/6 to £l3 2/6, light down to £9 7/6, prime heavy cows and heifers £lO to £l2 2/6, medium £6 7/6 to £7 17/6, light down to £4 10/-. The price a 1001 b showed a general improvement, extra prime bullocks being quoted at £1 1/-, prime £1 18/-, prime cows and heifers £1 17/- and poorer quality £1 11/-. A pen of outstanding four-year-old store steers brought £9 6/-. FAT SHEEP SALE There were 1487 fat sheep forward, with some good heavy wethers included, but heavy wethers were down by l/_ a head and ewes were firmer by the same amount. Prime heavy wethers were worth to £1 9/3, prime £1 6/3 to £1 8/3, medium £1 3/- to £1 4/-, light down to 19/-; extra prime heavy ewes to £1 7/6; prime £1 0/6 to £1 3/3, medium 17/3 to 19/3 and light down to 10/-. Over 140 fat lambs were offered and in keen competition extra prime heavy sorts made to £1 11/3, prime heavy £1 6/3 to £1 8/9, and medium £1 2/to £1 4/8. . , , t All classes in the pig entry brought better prices than last week. Heavy baconers made to £4 13/-, porkers £2 10/- and £3 10/-, and large stores about £1 15/-. ADDINGTON MARKET CHRISTCHURCH, December 8. A fall of 3/- in the price of lambs occurred at Addington today, following a reduction in the export schedule to Bjd. Fat sheep were steady but all cattle were cheaper. Store ewes and lambs improved by 1/- to 1/6 a head. A moderate entry of store sheep came forward with nothing outstanding in the way of quality. Ewes and lambs met a distinctly better market and rose in price by about 1/6 a head. The feed situation has improved over a great deal of Canterbury and buyers were cheered to learn of the improvement in wool at the Wellington sale. The most interesting entry was a line of about 1000 ewes and lambs sent up from one of the parched districts of North Otago. They were well-bred Corriedales with sound mouths but were showing effects of the drought. They were sold out of wool and averaged about 16/6. The lambs particularly showed signs of scarcity of feed. Wethers were steady. A slightly better inquiry was made. Fat sheep were about 5100, against 4300 last week. They were generally of indifferent quality. A scarcity of first-class butchers’ ewes and wethers kept this type dear, wethers showing a slight appreciation. The best ewes, too, were fully firm. Values were;—Extra prime heavy wethers to 32/1, prime heavy 28/- to 31/-, prime medium weight 26/- to 28/-, ordinary 22/6 to 25/6, light to 22/-, extra prime heavy ewes to 28/1, prime heavy 21/6 to 24/6, prime medium weight 18/- to 21/-, ordinary 15/- to 17/6, light 14/6. A decrease in the freezing schedule of a half-penny to BJd for under 36’s had an immediate effect in the fat lamb sale where values were down by 2/6 to 3/- a head. The yarding was rather heavier than that last week and though there was a number of good lines forward quality was generally ordinary, a big number of light hardlooking lambs being included. The sale was definitely weaker from the outset and values ranged from 7fd to 9d a lb as against as high as lOd last week. Fat cattle.—The entry was 560 head against 520 last week and was as usual of mixed quality. The hot weather and the decline in the price of lamb has checked the demand for beef and prices all round were easier. Heavy bullocks were fully £1 a head lower than they were last week and medium steers were also easier though not to the same extent. Best beef made to 40/- a 1001 b and in cases slightly more than average beef made from 35/- to 39/-, secondary and inferior 25/- to 30/-, and some down to below 20/-, extra prime heavy steers to £l7 2/6, prime heavy £l3 10/- to £l5 10/-, prime medium weight £l3 to £l5, ordinary £9 10/- to £l2 10/-, light to £9 5/-, extra prime heavy heifers to £l3 7/6, prime £9 10/- to £ll, medium £8 5/~ to £9 5/-, light to £B, extra prime heavy cows to £l2 7/6, prime £7 to £8 10/-, medium £5 to £6 10/-, light to £5. The entry in the veal section was slightly less than that of last week, about 240 head being yarded. Good calves were scarce and sold if anything at a slight increase on last week’s rates. Extra heavy runners made to £6 13/6, heavy £4 15/- to £5 8/-, medium £3 to £3 6/-, prime vealers, £3 11/- to £4 18/-, medium 34/- to £2 18/-, calves 12/- to 32/-. A moderate yarding of store cattle found quality very mixed. The only outstanding offering was a line of 81 steers from Banks Peninsula, which made from £6 7/- to £8 12/6. Cows made from £3 to £5.

There was a short entry in the dairy cattle section with a limited number of good cows on offer. Fairly strong competition came from the West Coast and good quality cows were from £1 to 30/- a head dearer. The best cows made to £lO 15/-, good cows from £7 to £8 10/-, medium from £5 to £6, and aged and inferior from £3 to £4 15/-. Good heifers made to £8 5/-, medium from £5 10/- to £6 10/-, and others from £3 to £5.

Pigs.—The yarding of porkers was again heavy and was of very mixed quality. Prices showed very little variation except for poor quality and unfinished sorts which were easier by 2/- to 3/- a head. Values were: Light porkers 29/6 to 34/6, medium 37/6 to 43/6, heavy 46/6 to 55/6, baconers 57/6 to £3 7/6, heavy £3 9/6 to £3 15/6, extra heavy £5 4/6. The entry in the store pig section was heavy. Large stores showed an easing of 3/- to 4/- a head. Weaners made 15/- to 17/-, best weaners 18/- to 21/-, slips 22/— to 25/-, small stores 26/- to 27/-, large stores 29/- to 30/-.

SETBACK TO LUXURY TRADES

RISE IN UNEMPLOYMENT IN BRITAIN LONDON, December 7. The big jump in unemployment hit chiefly the cotton, woollen and textile industries and also, significantly, the luxury and semi-luxury trades, which were badly affected. As a result there were widespread losses on the Stock Exchange. The radio industry seems to be in an unhappy condition and the the motor trade is also having a thin time.

Silver is in the midst of one of its periodical upheavals. Heavy selling, mainly on behalf of Indians, brought down the price to the lowest level in three years. Sellers apparently fear that the Japanese may seize the Chinese silver stocks.

“There is no slump and no reason to anticipate a slump,” declared the chairman of the Midland Bank (the Hon. Reginald McKenna) in a speech at Birmingham. He pointed out that the recent setback in certain sections of trade had been caused by an almost complete cessation of expenditure by big American industrial companies. When they ceased to buy raw materials prices fell and this had affected the Stock Exchange, resulting in a certain decline in luxury trade. But returns from all over the country gave no indication that the decline was general. COMPANY NEWS WOOLWORTHS (N.Z.) LIMITED BONUS ISSUE OF SHARES (Received December 8, 6.30 p.m.) SYDNEY, December 8. The shareholders of Woolworths (New Zealand) Limited have approved a recommendation to make a bonus issue of ordinary shares in the proportion of one to 10. A proposal that £1 shares be divided into 5/- shares was adopted. WOOLWORTHS LTD. (SYDNEY) (United Press Association) WELLINGTON, December 8. Woolworths Ltd. (Sydney) has advised the Stock Exchange Association that the directors have declared an interim dividend of 2 per cent., payable on January 15. SUEZ CANAL’S INTERIM DIVIDEND (Received December 8, 6.30 p.m.) LONDON, December 7. The Suez Canal Company has declared an interim dividend of 263.63 francs, making the total dividend 300 francs. ORIENT LINE’S PROFIT (Received December 8, 6.30 p.m.) LONDON, December 7.

The Orient Line announces a profit on its investment income of £351,011; the surplus on the sale of investments is £9450; the transfer from the general reserve is £175,000; depreciation amounts to £241,921 and specjal expenditure to £163,616; and the balance is £129,925. The amount brought forward is £40,461. An ordinary dividend of 5 per cent, absorbs £134,304 and £36,082 is brought forward. SYDNEY STOCK EXCHANGE EVIDENCE OF STEADINESS ALL ROUND SYDNEY, December 8. Conditions on the Stock Exchange today differed little from those of yesterday. There was evidence of steadiness all round despite the uncertainty of the overseas position. Greater interest was shown in tin stocks. Sales were:

MELBOURNE SALES There was a steadier tone in the market today but trading was light. Barriers were inclined to be better and banking stocks are attracting attention at recent levels. Sales were:

LONDON STOCK EXCHANGE LONDON, December 7. Quotations on the Stock Exchange are:

COLOMBO TEA SALE (United Press Association) DUNEDIN, November 8. Mr L. M. Wright has received the following cabled report on the Colombo tea auction of December 7:— “Fine quality teas showed a slight advance. Medium grades remained firm, and quotations for common kinds showed a decline of Jd to Jd, compared with last week’s rates. At next week’s auction 2,250,0001 b will be offered for sale.”

£ s d Bank of New South Wales 33 17 6 Commercial Bank of Sydney 21 3 0 Commercial Bank of Australia 17 4*/2 Associated Newspapers 1 3 6 do. (pref.) 1 4 4‘/ a Adelaide Steam 1 11 3 Huddart Parker 2 2 6 Burns Philp (cont.) 1 14 6 Australian Gas (B) 7 10 6 Berlei 1 19 0 British Tobacco 2 10 0 Tooth’s Brewery 2 14 0 Toohey’s Brewery 1 11 6 Dunlop Perdriau Rubber 1 2 9 David Jones 2 1 6 Anthony Hordern 19 6 Lustre Hosiery 1 1 9 General Industries 19 6 Australian Gypsum 1 1 0 Manly Gas 1 4 71/a Associated Pulp 1 1 0 Felt and Textiles (5/- paid) 1 0 0 Sargents 1 9 9 Newbold Brick 1 13 0 Gordon and Gotch 2 13 3 Victoria Nyanza 17 0 United Provisions 6 9 Henry Jones 2 7 3 Millaquin Sugar 1 19 0 Fairymead Sugar 1 16 0 Woolworths 1 7 0 do. (second pref.) 1 9 0 Wunderlich 1 9 0 Younghusbands 1 13 0 Electrolytic Zinc 2 8 0 do. (pref.) 2 10 3 Mount Morgan 12 4 Mount Lyell 1 13 6 Broken Hill Propty. 3 4 0 North Broken Hill (ex div.) 2 13 3 South Broken Hill 1 17 9 Rawang Tin 10 8 Larut 15 9

£ s d Commercial Bank of Australia 17 2 National Bank (£10 paid) 14 1 0 British Tobacco 2 10 0 Carlton Brewery 3 3 6 G. J. Coles 4 5 0 Drug Houses 1 5 9 Australian Glass 4 11 0 Dunlop Perdriau, Rubber 1 2 8 do. (pref.) 1 17 3 Goldsbrough Mort 1 12 7’/ 2 Felt and Textiles 1 16 6 Electrolytic Zinc 2 7 9 do. (pref.) 2 10 3 Mount Morgan 12 5 Broken Hill Propty. 3 3 9 North Broken Hill 2 12 6 South Broken Hill 1 17 i'/2 Loloma 17 4

£ s d Clutha River Company— Buyers 1 9 Sellers 2 0 Molyneux River Company— Buyers 1 1’4 Sellers 1 4>/ 2 Dalgety and Company— 4 p.c. 97 10 0 Shares 6 17 6 British Tobacco 1 18 6 Goldsbrough Mort 1 5 3 P. and O. (deferred) 1 0 9