BURNSIDE STOCK SALE

Southland Times, Issue 23922, 14 September 1939, Page 3

BURNSIDE STOCK SALE

Big Increase In Fat Cattle Entry

EASING IN VALUES FOR WETHERS AND EWES (United Press Association) DUNEDIN, September 13. There was an entry of 302 fat cattfe at the Burnside stock sale today, compared with 190 a week ago. Several trucks of prime bullocks and heifers were entered, but the rest of the yarding was only of average quality. At the start prices were down by £2 to £2/10/- a head, but there was a recovery of from 10/- to 15/- as the sale progressed. Extra heavy bullocks made to £23/2/6, prime £l6/2/6 to £lB/17/6, medium £l2/17/6 to £l5/2/6, and light from £lO/2/6. Extra prime cows and heifers made to £l6/17/6, prime £l2/2/6 to £l4/12/6, medium £B/2/6 to £9/17/6, and light from £6/17/6. There were 152 store cattle forward, four-year-old steers bringing to £lO/5/-. Vealers sold firmly at late rates. Up to £7/10/- was paid for the best of fire 27 dairy cows offered. The entry of fat sheep totalled 1657, compared with 1872 at the previous sale. Wethers were forward in greater numbers than usual and the sale opened with an easing of 3/- a head for wethers and 2/- for ewes, with no recovery as the sale, went on. Extra prime heavy wethers made to 42/9, prime 33/- to 37/9, medium 28/- to 30/3 and light from 25/-. Extra prime ewes made to 37/9, prime 29/- to 31/3, medium 24/6 to 27/9 and light from 15/-. There was an offering of 117 fat pigs, which sold firmly at the start, but eased later by 6/- to 8/- a head. Best baconers made to £5, and porkers to £3/10/-. ADDINGTON MARKET SHARP DECLINE IN VALUE OF FAT SHEEP CHRISTCHURCH, September 13. There was a sharp decline in the value of fat sheep at today’s Addington market as a result of an excess of entries. Rumours of Government action to prevent prices of meat rising further were the cause of the overflow. Store sheep enjoyed a slightly brighter sale. Ewe hoggets made to 20/6, ewes to 25/- and ewes and lambs, all counted, to 14/9. In the fat sheep section more than 8000 were penned, a number of lines being from the south. The market opened at 7/- to 9/- a head less than last week’s rates and slipped still further in the final stages by from 8/- to 12/-, bringing values to a lower level than a fortnight ago, the peak sale of the season. Best wethers made to 49/10, and good from 34/- to 40/-. Best ewes made from 32/- to 39/- and good from 24/- to 30/-. Passings were heavy towards the end of the sale. In the fat cattle section there was a moderate penning of 450 head. A few pens of tops showed only a minor easing, but the bulk of the entry averaged about 20/- a head lower. Extra prime beef in a few cases made to 51/- per lOOlbs, but the bulk of best quality made from 45/- to 48/-. Best steers made from £2O to £24/12/6, good £l6 to £lB and medium from £l2 to £l3. Especially good heifers made high prices, a show beast realizing £22/7/6, but most of the average to good heifers ranged from £l3/10/— to £l5, with cows 20/- less. There was a good sale of porkers and baconers. Choppers sold from £3/18/6 to £7/8/7, and porkers at £2/7/6 to £3/5/6, average price per lb 7Jd to Bjd. Baconers made £3/9/6 to £4/19/6, average price per lb 7d to Bd.

’ COMPANY NEWS

MILBURN LIME AND CEMENT (Special to The Times) DUNEDIN, September 13. A net profit of £19,828, against £23,750 last year and £16,260 in 1937, is recorded in the fifty-first annual report and balance-sheet of the Milbum Lime and Cement Company. Ltd., for the year ended July 31. The dividend is held at eight and three-quarters per cent. The directors’ report states that the profit and loss account, after writing off depreciation and making provision for income tax for the current year, shows a credit balance of £27,498, including the sum of £7670 carried forward from last year. An interim dividend was paid last March amounting to £7500, leaving a balance of £19,998 to be dealt with. It is recommended that this balance should be appropriated as follows: To payment of a final dividend of 5 per cent £10,000; to provision for new plant, £2000; and to carry forward £7998. SI.M.U. INSURANCE (Special to The Times) DUNEDIN, September 13. The premium income of the South Island Motor Union Mutual Insurance Association for the year ended June 30, 1939, was £70,883, against £56,038 in the previous year. This figure is less returns, refunds and reinsurances. The net claims, after taking into account reinsurance recoveries and making adequate provision for claims not finally settled, amounted to £35,895, compared with £32,479 for the year ended June 30, 1938. The claim ratio was 50.63 per cent., compared with 57.95 per cent, for the preceding year; and the expense ratio was 21.02 per cent., compared with 23.7 per cent, last year and 24.3 per cent, in 1937. " , • , • i , The report says that throughout the 13 years of the association’s existence the paramount aim of the directors has been to place the association in an impregnable position and it can be safely said that further substantial progress toward this object has been made this year. .The reserve ratios have been further increased and the total funds now amount to £164,167/10/7.

1116 directors report a surplus of £9895/18/3 as a result of the year’s underwriting, and state that of this sum £8497 has been placed to the reserve for bonus rebates next year. Since 1935, when it was decided to return to policy-holders the underwriting surplus, these rebate bonuses have totalled £26,919. AUSTRAL NEW ZEALAND ‘ MINING

Reid and Jones, Invercargill, have received information from the New Zealand attorney of Austral New Zealand Mining Ltd. to the effect that what is expected to be the last shipment of material for the dredge left England on August 9. The contractors recently expressed the opinion that they would finish by the end of November provided their already inadequate force of skilled tradesmen is not further depleted by war requirements.