BURNSIDE STOCK SALE

Southland Times, Issue 23390, 23 December 1937, Page 3

BURNSIDE STOCK SALE

Rise In Values For Fat Cattle KEEN COMPETITION FOR LAMBS (United Press Association) DUNEDIN, December 22 Only 185 fat cattle were yarded for the double Christnfas market at the Burnside stock sale today and the demand exceeded the supply, with the result that values appreciated. Best quality bullocks were up by £2 a head and medium quality by as much as £1 10/-. Extra prime heavy bullocks made to £2l 1/6, prime £l5 17/6 to £l9 2/6, medium £ll 17/6 to £l4 2/6, light down to £8 2/6, extra prime cows and heifers to £ll 17/6, prime £9 2/-6 to £lO 7/6, medium £7 2/6 to £8 7/6, and light down to £5 2/6. One hundred and fifty store cattle were offered, including several pens of three and four-year steers, which attraetd keen competition. These made from £7 12/6 to £9 12/6. Younger sorts were worth from £5 2/6 to £6 17/6. Only 910 fat sheep were offered and the quality over all was disappointing. Few heavy sheep were forward and there was consequently a strong demand for this class, which firmed by 2/- a head. Extra prime heavy wethers brought to £1 15/6, prime £1 8/- to £1 11/-6, medium £1 3/6 to £1 G/6 and light down’ to 19/-, prime heavy young ewes to £1 10/3, prime heavy to £1 8/-, prime £1 4/- to £1 6/-, medium 19/- to £1 1/-, and light down to 15/-.

The Christmas market attracted an entry of 3815 fat lambs, which sold to keen competition. Medium quality lambs were in the majority and exporters competed with butchers throughout the sale. Extra prime heavy lambs were worth to £1 10/6, prime heavy £1 5/- to £1 7/-, medium £1 2/- to £1 3/6, and light and unfinished down to 18/-.

A few fat pigs were offered, the yarding totalling 76 head. Porkers had a good sale at up to £3 13/-, but baconers were not good and £3 16/was the best price obtained. COMPANY NEWS WELLINGTON INVESTMENT TRUSTEE COMPANY (United Press Association) WELLINGTON, December 22. The Wellington Investment Trustee and Agency Company Ltd., has declared an interim dividend of 2} per cent, for the six months ending December 31. GORDON AND GOTCH Speaking at the annual meeting of Gordon and Gotch (Australasia) Ltd., the chairman (Mr W. H. Craig) said trading of the company had improved. Reserves for contingencies had increased to £50,000, and the general reserve had increased by £lO,OOO. Sundry creditors were more by £30,463. Stocks were lower by £23,932. Sundry debtors and bills receivable were more by £98,775, but investments were less

by £19,106. The credit balance with the Union Bank of Australia was more by £8913. These variations were due to increased trading. Net profit for the half-year was £52,254. This was an increase of £7019 over the previous half-year. After transferring £15,000 to general reserve and providing the usual dividend on preference shares, directors recommended dividend of 12 per cent, a year for the half-year, carrying forward £33,825. GOLDEN BAY CEMENT The increased sales of cement have been due to greater activity in the building trade and to an increased demand from Government departments and local bodies, said Mr J. M. A. Hott, chairman of directors of the Golden Bay Cement Company Ltd., at the annual meeting in Nelson. Another factor had been the zoning system which was arranged between the three companies operating in New Zealand. Nevertheless, output was still substantially below that of pre-depres-sion days. G. J. COLES DIVIDEND G. J. Coles and Co., Ltd., advises that the transfer books will close on December 31 for the dividend on the preference shares, which is payable on January 15. The books for the ordinary shares close on January 18 for the dividend payable on January 31. MINING RETURNS OKARITO COMPANY WELLINGTON, December 22. The Okarito Five Mile Beach Gold Dredging Company reports a wash-up of 290 z Bdwt for 125} hours’ dredging. MATAKI JUNCTION (United Press Association) MURCHISON, December 22. The Mataki Junction return for the four-/ eekly period ended December 16 was 174 ounces of smelted gold for 496 hours and 84,000 yards dredged. BULOLO No. 5 dredge of Bulolo Gold Dredging Ltd., New Guinea, commenced operating on December 1. The dredge is of 2000 tons, and will be capable ot digging to a depth of 85ft below water level. Excluding the new plant, the company has four dredges operating, and the programme provides for two additional dredges. No. 6, a smaller dredge is being installed nearer to Wau, where the company has a small limited area to dig out. A seventh dredge will be of a similar capacity to No. 5. Included in the 751,000 cubic yards of ground treated in November were 70,000 cubic yards of tailings, and accounted for a reduction of £10,212 to £60,068 in the working profit, compared with the figures for October. SANDHILLS The claims manager of the Sandhills Gold Mining Company, Ltd., advised of a wash-up of 68oz 16dwt from the third paddock taken out on Tucker Beach. The second paddock, which was completed on December 2, returned 58oz sdwt.

LONDON STOCK EXCHANGE

LONDON, December 20. The stock markets opened generally cheerful, maintaining yesterday’s confident tone.

Mining shares are quoted as follows: £ s d

Clutha River Company— Buyers 0 1 9 Sellers 0 2 3 Molyneux River CompanyBuyers 0 1 6 Sellers Q 1 9