DOUBLE MARKET AT ADDINGTON

Southland Times, Issue 24004, 20 December 1939, Page 3

DOUBLE MARKET AT ADDINGTON

RECOVERY IN VALUES (United Press Association) CHRISTCHURCH, December 19. Because of the Christmas demand there was a recovery in values in several sections at the double sale at Addington today. The recovery was notably in the fat lamb and fat sheep sections, the latter being in short supply. Better classes improved substantially in price. Fat cattle, however, slipped on the weaker rates of last week. The spring lamb yarding totalled 3000 compared with 1000 last week. A strong demand existed for light prime sorts for the Christmas trade, these making at least.Sgd per-lb and sometimes more. The sale was a firming one throughout. The works operated freely at schedule. The entry of fat sheep was exceptionally small for a double market, little more than 4000 head being yarded. Prices advanced, especially for good wethers which were better by 2/- a head. Light wethers were also better and both prime and lightweight ewes advanced by 1/- to 1/6. Extra prime heavy wethers made to 35/6, prime 28/6 to 31/-. Prime heavy ewes made 27/- to 34/-, medium to 22/6 and light to 14/-. PRIME STEERS LOWER The fat cattle entry was also smaller but included a big proportion of wellfinished sorts. Good prime steers were 20/- a head lower with secondary showing a smaller decline. Extra prime heavy steers made to £l9/12/6, prime £l6 to £l7/5/-, medium to £l5/10/and light to £9/10/-. Prime heifers made to £l2/10/- and light to £B/5/and prime cows £lO to £l2/15/- with light cows to £7/5/-. The entry in the fat pig section was on the small side for a double market and nrices advanced from 3/- to 4/- a head for good cutting sorts. Choppers were in short supply and values were again better by about 10/- a head. Choppers made £3/1/6 to £6/11/-, medium porkers £2/2/6 to £2/9/6, heavy porkers £2/11/6 to £2/17/6, light baconers made to £3/6/6, medium to £3/15/6 and heavy to £4/9/6, the average price per lb being 6Jd to 6Jd. NATIONAL MUTUAL LIFE ASSOCIATION The new business written by the National Mutual Life Association of •Australasia Limited for the year ended September 30, 1939, amounted to £10,158,497. These figures refer to ordinary business only, as the association does not transact industrial life assurance. The total income for the year was £5,998,648, which included £4,168,542 for premiums and £1,830,106 for interest (after deduction of rates ahd taxes). The year’s income was £1,932,540 over expenditure. Policy holders or their representatives received £3,513,380 from the association during the year. The report shows that £515,000 was transferred to investment fluctuation reserve. Of that reserve £lOO,OOO was applied to write down house property. After reductions of house property the investment fluctuation reserve amounts to £1,750,000. During the year under review the combined funds increased by £1,832,540 and at September 30, 1939, the assurance fund amounted to £45,575,865. The total assurances (excluding bonus additions) in force at the end of the year exceeded £114,850,000. MINING ARGO DREDGE The Argo Gold Dredging Company’s return for the week ended on Saturday was 360 z for 130 hours’ work on 14,000 yards. WORKSOP EXTENDED The Worksop Extended Gold Dredging Company advises that no clean-up took place this week because of short dredging time, due to a break-down in machinery. Dredging has been resumed.