STOCK SALE AT ADDINGTON

Southland Times, Issue 23674, 24 November 1938, Page 3

STOCK SALE AT ADDINGTON

Decline In Price Of Sheep And Cattle CHOPPER PIGS IMPROVE IN VALUE * / (United Press Association) CHRISTCHURCH, November 23. Fat sheep and cattle were again in excess of requirements at the weekly stock market at Addington today, resulting in a further decrease in prices. Vealers and baconers also were easier. Store Sheep.—Although there was a smaller entry the sale was dull.'Werners particularly were practically unsaleable. Hoggets failed to attract anything better than a weak demand. Wethers brought to 20/6 for a line of well-grown four, six and eight-tooths in wool. Other young wethers made from 13/2, wether hoggets to 15/-, medium sorts 10/- to 13/3, ewes ana lambs to 16/3, medium sorts in wool 13/- to 13/4 and others from 8/9. The spring lamb sale finished on a range of about 8d to BJd. Most good lambs brought about BJd. Fat Sheep.—The entry was about 6000. After the 6500 last week it substantially exceeded buying requirements. On an average prices were 1/b down for both ewes and wethers. Extra prime heavy wethers made to 27/10, prime heavy, 20/6 to 23/6, prime medium 18/6 to 20/- and light to 15/-. Extra prime heavy ewes made to 25/1, prime heavy 18/- to 20/-, prime medium 15/9 to 17/6 and light 11/6. Fat Cattle.—The entry of 530 ag am exceeded buying requirements. Except for good lightweight steers and heifers, the market was down on the average of last week by 15/- to 20/-. Other classes were down by 10/- to 15/-. A good deal bf beef sold about 40/- to 42/- per 1001 b. Extra «irime heavy steers made to £l9 17/6, prime heavy £l6 to £lB, prime medium £l4 15/- to £l6 and light to £ll 5/-. Extra prime heifers made to £l3 l'/b> prime £ll to £l2 10/-, medium £9 10/- to £lO 15/- and light to £9 5/-. Extra prime cows made to £l3 7/6, prime £9 10/- to £l2, medium £7 10/- to £9 5/- and light to £7 5/-. Fat Pigs.—The entry in the porker section was again large. Prices very little change compared with last week. Choppers were in medium supply and a shade better in value. Baconers were forward in similar numbers to those of a week ago. Values eased considerably and a very erratic sale resulted. Best class pigs were easier by about 5/- and medium and secondary classes by 5/- to 10/-. Choppers made from 38/6 to £4 8/6 and porkers 38/to 59/6, the average price per lb being 6jd to 7|d. Baconers made £3 1/b to £4 19/6, the average price per lb being 6Jd to 7d. MINING REDUCTIONS PROPOSED CAPITAL OF MINING HOUSE CONCESSIONS The directors of the Mining House Concessions Ltd., in their fifth annual report, to be presented to shareholders at the annual meeting on November 30 state that the gold production from the Maerewhenua North areas was somewhat disappointing in that the total amount realized fell about £2OO short of the previous year’s figure. This was mainly due to a difficult patch of ground with pipe-clay that was encountered during the operations. On the other hand, the mine expenditure and general overheads were reduced with the result that the financial year was concluded with a small loss of £lO. No finality has been reached in the negotiations with the financial group for working the Taipo area. The main reason for the delay is the inaccessibility of the mine, due to the absence of a satisfactory road for the transport of heavy machinery. Both the company and neighbouring interests are vitally interested in the question of a good road, and it is hoped that the mutual efforts in that direction will be successful. The financial position has not undergone any appreciable changes. The amount owing to creditors is insignificant, and the company’s liquid resources have been substantially maintained, as is shown in the following comparative table.

In pursuance of their policy of reducing capital, the directors propose to write off further substantial amounts to bring down the assets on the bal-ance-sheet (some of which still appear at cost) to a fair and reasonable valuation. If a final decision is arrived at the matter of reduction of capital will be brought before an extraordinary meeting of shareholders during the current financial year. The retiring director. Mr S. P. Cameron, and the auditor, Mr W. S. MacGibbon, offer themselves ' for reelection. WELLINGTON ALLUVIALS (United Press Association) WELLINGTON, November 23. The Stock Exchange Association has received the following advice: “The report of Wellington Alluvials Ltd. for the four weeks ended November 12 shows that the dredge worked 440 hours, handling 208,000 cubic yards and recovered bullion estimated to contain 9190 z of fine gold.”

FOREIGN EXCHANGES (Received November 23, 6.30 p.m.) LONDON, November 22.

1936 1937 1938 £ £ £ Gold 135 154 95 Bank and secured investments 1268 1312 1303 TOTALS 1403 1466 1398

Par. Nov. 21 Nov. 22 Paris, fr. to £1 170 178 23-32 178 21-32 New York, dol. to £1 4.866 4.69's 4.67 Montreal, dol. to £1 4.866 4.72% 4.70 5-16 Brussels. belgas to £1 35 27.74 26.61 Geneva, fr. to £1 25.2216 20.76% 20.64% Amsterdam. kr. to £1 12.107 8.62% 8.57% Milan, lire to £1 92.43 89% 88% Berlin, reichmarken to £1 20.43 11.72% 11.66% Copenhagen, kr. to £1 18.159 22.40 22.60 Stockholm, kr. to £1 18.159 19.41 19.41 Oslo, kr. to £1 18.159 19.90 19.90 Prague, kr. to £1 154.25 137% 137 Helsingfors, marks to £1 193.23 226% 226% Madrid, pesetas to £1 25.2216 — Lisbon, escudos to £1 110 110% 110% Athens, drach to £1 375 547% 547% Bucharest, lei to £1 818.60 665 665