SALE OF ROMNEY MARSH SHEEP

Southland Times, Issue 23443, 25 February 1938, Page 3

SALE OF ROMNEY MARSH SHEEP

J. MOSLEY AND SONS’ STUD FEW PASSINGS AT AUCTION Wright, Stephenson and Co., Ltd., Gore, conducted the first annual sale of Riverslea Romney Marsh sheep on behalf of J. Mosley and Sons (Clydevale) at the Gore show grounds yesterday, in. warm weather. The sale was a good one, considering the recent extremely dry weather and there were very few passings. In fact, there were no passings in the stud ram and ewe sections, and only about 20 passings in the flock ram section. It is understood that these sheep later were sold privately. . , , . . The average price secured for stud rams was 20gns and the top price was 45gns, which was secured for two separate rams. The National Mortgage and Agency. Co., Ltd., paid on behalf of a client 45gns for a ram whose sire had a long list of show prizes to its name. It was second in the natural condition ram hogget class at Dunedin, first at Balclutha and second at the Royal show at Invercargill in 1934. In 1936 it was first in the natural 'condition aged ram class at Dunedin. Mr J. R. Lawlor (Waikaka Valley) also paid 45gns for a stud ram which was in excellent condition. The majority of the sheep lacked bloom because of the dry weather, bui they were all in fair condition. The Riverslea Romney stud is well known in the South Island and has enjoyed successes at all the leading shows for some years past. Buyers were present from all parts of Southland and Otago and the attendance was good. Although bidding was not very brisk at stages, the inquiry was sound throughout the day. The stud ewes brought an average price of 4gns, the top price of 14gns being paid by Mr M. Kirkpatrick, of Greenvale, for a ewe which has been a consistent prize-winner. The sheep secured the championship at Dunedin in 1936.

There was not such a keen demand for flock rams, which showed the effects of the dry weather. A good average price was secured, however, and up to 14gns was paid. This price was secured for a 1-shear ram which was purchased by Mr D. Russell, of Milton. Sales were:— STUD RAMS One at 40gns to National Mortgage and Agency Co., Ltd., account client; 1 at 15gns to R. M. Paterson (Arrowtown) ; 1 at 22Jgns to A. G. Neill (Portobello); 1 at 14gns to J. Dillon (Balfour), 1 at 22gns to R. M. Paterson; 1 at 12 gns to H. A. Turnbull (Gore); 1 at 25 gns to Robertson and Sons (Waikoikoi); 1 at 30gns to R. M. Paterson; 1 at 13gns to G. Styles (Wendon Valley); 1 at 22 gns to R. Oakley (Mayfield), 1 at 13 gns to Herron Brothers (Waikaka); 1 at llgns to H. A. Turnbull (Gore); 1 at 19gns to A. G. Neill; 1 at 19gns to J. Ronald (Wyndham); 1 at lOgns to R. McCallum (Goodwood); 1 at 13|gns to A. G. Neill; 1 at 32gns to R. H. Gardyne (Waihiahia); 1 at 20gns to J. R. Lawlor (Waikaka Valley); 1 at 171gns to J. Miller; 1 at 45 gns to National Mortgage and Agency Co., Ltd., account client; 1 at llgns to G. McKenzie (Gore-Waipounamu R.D.); 1 at 30gns to J. R. Lawlor; 1 at 13gns to A. G. Neill; 1 at 42gns to National Mortgage and Agency Co. Ltd., account client; 1 at 15gns to Andrew Cowie (Invercargill); 1 at 20gns to R. M. Pater• son; 1 at lOgns to J. R. McKinnon (Clinton); 1 at 13gns to H. Kerse (Waikaka); 1 at lOgns to R. G. Neill; 1 at 33gns to W. A. Yardley (Moa Flat); 1 at 14gns to R. Oakley; 1 at 14gns to R. M. Paterson; 1 at 15gns to G. McKenzie; 1 at 15gns to E. Black (Balfour); 1 at 22gns to A. Drummond (Five Rivers); 1 at 45gns to J. R. Lawlor; 1 at 13gns to H. Kerse; 1 at 16gns to R. G. Neill; 1 at 12gns to Logan Estate (Otama); 1 at llgns to G. Styles (Wendon Valley); 1 at 21gns to R. H. Gardyne. STUD EWES One at to M. Kirkpatrick (Greenvale); 4 at 14gns to M. Kirkpatrick; 5 at 4Jgns to J. Dillon (Balfour); 5 at 6jgns to A. G. Neill (Portobello); 5 at 3gns to Wright, Stephenson and Co., account client; 5 at 3J,gns to Wright, Stephenson and Co., account client; sat 2|gns to D. McGill (Te Tipua R.D.); 5 at Bgns to J. Dillon; 5 at 2|gns to Wright, Stephenson and Co., account client; 5 at 3gns to do; 5 at 6gns to A. Drummond (Five Rivers); 5 at 2Jgns to Wright, Stephenson and Co., account client; 5 at 2Jgns to D. McGill; 5 at 3Jgns to J. Dillon; 5 at 2gns to R. McCallum; 5 at 2gns to R. McCallum; 5 at 21gns to A. Saunders (Clinton); 5 at IJgns to J. E. Watson and Co., account client; 5 at 2gns to do. FLOCK RAMS One 1-shear at Bgns; 1 at 7gns; 1 at Bgns; 1 at 7gns; 1 at 6gns; 1 at 7gns; 1 at 9Jgns; 1 at 5/gns; lat 4gns; 1 at 14gns; 1 at 13gns* 1 at lOgns; 1 at Bgns; 1 at 1 at 12gns; 1 at 6gns; 1 at 13gns; 1 at lOgns; 2 at 6igns; 2 at 6gns; 2 at 6gns; 2 at sgns; 2 at 4|gns; 2 at 6gns; 2 at 6gns; 2 at 3gns; 2 at 6jgns; 2 at 4|gns; 2 at 4Jgns; 2 at 4igns; 2 at 6gns; 2 at Signs; 2 at 7gns; 2 at sgns; 2 at 4Jgns; 2 at s|gns; 3 at 3»}gns; 3 at 3Jgns; 3 at 3Jgns; 3 at 3gns; 3 at 3gns; 3 at 3Jgns; 3 at 3|gns; 3 at 3£gns; 3 at 4Jgns; 3 at 3gns; 3 at 4|gns; 3 at 3gns, 3 at 3gns; 3 at 3gns; 3 at 4|gns; 3 at 3gns; 3 at 3gns; 3 at 4Jgns; 3 at 3gns; 3 at 3|gns; 3 at Signs; 3 at 3gns; 3 at 3igns; 3 at 3igns; 3 at 3gns; 3 at 4gns; 3 at 3gns; 3 at 3gns. _____

THE RESERVE BANK ASSETS AND LIABILITIES (United Press Association) WELLINGTON, February 24. Following is a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, February 21:—

Proportion of reserve (No. 7, less No. 5) to notes and other demand liabilities, 68.486 per cent. COMPANY NEWS UNION BANK Net profit of the Union Bank of Australia Ltd. for the year ended August 31 was £254,383, compared with £240,848 the previous year, and £214,985 for 1935-36. A final dividend of 4 per cent, makes 7 per cent, for the year, subject to British income tax, and in addition the directors have declared a special centenary bonus of 2 per cent., less tax, payable from a special fund. The previous year’s dividend was 5g per cent., and that for 1935-36 5 per cent. The balance-sheet shows that there was a considerable strengthening of the liquid position during the year. Deposits increased by £2,917,395 under the influence of large receipts from exports, and advances fell by £205,605, probably because many primary producers took advantage of their increasing income to pay off overdrafts. Bullion, specie and cash balances rose by £2,020,569, Commonwealth Treasury bills by £355,000, and money at call and short notice in London by £20,000. At the same time there was an addition of £364,065 to the holding of British, Australian and New Zealand Government securities.

CASCADE COAL A dividend of 21 per cent, for the half-year ended January 31, has been declared by the directors of the Cascade Coal Mining Company. PELACO, LTD. The profit of Pelaco Ltd. for 1937, was £16,590, compared with £15,200 in 1936. Dividends recommended for the year are 7 per cent. (£2080) on “A” preference and 18 per cent. (£9000) on “B” preference shares. The accounts show that current assets are valued at £195,940, against £216,000 at the end of 1936, and fixed assets at £158,990, against £161,780. _ Capital is £244,740, and current liabilities are £106,520, against £136,730. MILNE AND CHOYCE LTD. AUCKLAND, February 24. The interim dividends of Milne and Choyce Ltd. for the half-year ended January 31 are as follows: Preference, 6 per cent, per annum; B preference, 7 per cent, per annum; ordinary shares and debenture stock, 5 per cent, per annum. They are payable on April a. WOOLWORTHS (SYDNEY) (Received February 24, 7.5 p.m.) SYDNEY, February 24. The directors of Woolworths (Sydney) announce a net profit for the year ended January 31—after providing for income tax—of £217,717. The directors recommend a final ordinary dividend of 9 per cent., making 17 per cent, for the year. They also recommend a bonus issue of one fully paid share of 5/- for every five shares held. METAL MARKET (Received February 24, 6.30 p.m.) LONDON, February 23.

FOREIGN EXCHANGES (British Official Wireless) (Received February 24, 6.30 p.m.) RUGBY, February 23. The following mean closing rates of foreign exchanges were quoted today com-

LIABILITIES £ d 1. General reserve fund 1,500,000 0 0 2. Bank notes 13,789,755 0 0 3. Demand liabilities— (a) State 4,923,468 0 3 (b) Banks 9,374,267 11 9 4. (c) Other Time deposits 347,772 3 7 5. Liabilities in currencies than N.Z. currency other Other liabilities 194,388 6 2 TOTAL £30,129,651 4 6 ASSETS 7. Reserve— (a) Gold 2,801,791 0 0 (b) Sterling exchange 16,672,603 14 6 (c) Gold exchange 8. Subsidiary coin 217,476 9 8 9. Discounts— (a) Commercial and agriuuiiurai (b) Treasury and local body bills 10. Advances— (a) to the State or State undertakings: (1) Primary Products Market15 ing Department 6,259,130 3 (2) For other purposes (b) To other public authorities (c) Other 1,100,000 0 0 11. 12. Investments • Bank buildings 2,959,994 9 0 13. Other assets 18,654 16 1 TOTAL £30,129,651 4 6

Metals are quoted as follows: — Feb. 21 Feb. 23. £ s d £ s d Copper— Standard, Spot 40 5 0 42 4 4> z i Forward 40 9 4 >/ 2 42 6 10t 2 Electrolytic 44 0 0 45 10 0 to 45 0 0 46 10 0 Wire bars 45 0 0 46 10 0 Lead— Spot 15 10 0 16 3 l>/ 2 Forward 15 11 10‘/ 2 16 4 4* z2 Spelter— Spot 14 11 io>/ 2 15 8 1/2 Forward 14 15 7>/ 2 15 9 41/2 TinSpot 185 7 6 190 7 6 Forward 185 2 6 190 2 6 Silver— Fine, per oz Standard, per oz 20 l-16d 21 %d 20’,id 21%d

pared with par:— Par Today Paris, fr. to £ 124.21 153 27-32 New York, dol. to £ 4.886 5.01% Montreal, dol. to £ 4.886 5.01 13-16 Milan, lira to- £ 20.43 95% Copenhagen, kr. to £ 18.159 22.40 Oslo, fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26% Berlin, rmk. to £ 20.42 12.40 Prague, kr. to £ 34.585 142% Helsingfors, m. to £ 103.23 226% Madrid, pesetas to £ 25.15 — Lisbon, escudos to £ 110 110 3-16 Athens, dr. to £ 875 547% Bucharest, lei to £ 318.6 677 % Belgrade, dinars 275.3 216 Rio de Janeiro, p. to milreis 8.895 2 13-16 Buenos Aires, p. to dol. 45.577 — Montevideo, p. to dol. 57 21% Bombav. p. to rupee 10 18%