COMMERCIAL

Southland Times, Issue 24650, 23 January 1942, Page 8

COMMERCIAL

QUOTATIONS UNCHANGED ON STOCK EXCHANGE The market was unchanged on the Invercargill Stock Exchange yesterday, quotations being the same as on Wednesday. CHRISTCHURCH Sales Reported.—National Insurance 19/6; Christchurch Gas (10/- paid, ex div.) 10/9; Woolworths (Sydney, ord.) 15/9. AUCKLAND Sales.—War Loan 1953 £B6/17/6 (2); Bank of New Zealand £l/19/3 (late sale); Bank of New Zealand (D mort.) £l/10/-; South British £2/16/9 (odd lot); Auckland Gas 6/3; Dominion Breweries £l/9/-; Dunlop Rubber £1; New Zealand Fertilizer £1; Reid Rubber £l/6/6; Arahura £l/8/-. RESERVE BANK RETURN (P.A.) WELLINGTON, January 22. The following is a statement of the assets and liabilities of the Reserve Bank as at the close of business on January 19:—

Proportion of reserve to notes and other demand liabilities 32.919 per cent. (33.737 last week). Sterling exchange is expressed in New Zealand currency.

ADDINGTON MARKET (P.A.) CHRISTCHURCH, January 21. There were heavier entries in all classes ‘at today’s Addington market, but there was a good sale, especially for store lambs. For the time of the year the entry of store lambs was exceptionally large, numbering 9794. The prices realized for good lambs have scarcely been recorded since boom times. The quality was very much better than usual for this time of the year. Most of the pens exceeding 21/6 were bought for freezing and pen after pen of quite large lots sold from 17/- to 18/6, others from 19/- to 23/7. The main prices ranged from 16/6 to 19/- and fewer than six pens at less than 12/-. Lambs for freezing sold from 21/6 to 23/7, forward rape lambs 19/- to 21/-, medium 17/6 to 19/-, ordinary 16/- to 17/3, inferior 14/- to 15/3, culls 9/- to 12/-.

The fat lamb entry totalled 3750 and the quality was good. A big proportion ranged from medium to prime sorts. Drier feed of recent weeks has been having the effect of topping off lambs in increased numbers. The export trade bought most of the offering at rates bordering on schedule. The usual proportion of stores ranged to 20/- a head, but a big proportion made 24/- to 25/6. About 3800 fat sheep were yarded. The quality in a small proportion of wethers was good and there was a little improvement on last week’s values. This improvement eased in the final stages. Young ewes advanced in price by up to 1/6 a head. Exporters advanced their limits a shade, paying up to 12/- a head. All round there was an improvement on last week’s rates. The best wethers made to 35/-, medium 26/- to 28/-, best ewes to 24/1, prime 16/6 to 19/6, medium 12/6 to 15/-, export 10/- to 12/-. The fat cattle entry numbered 499, but the quality was not as good as at recent sales. There was a substantial showing of cull dairy cows, but fewer prime steers because of military camps’ requirements. An advance in values was recorded of up to 20/- a head. Good steers made £l6 to £l9/17/6, best heifers £lO/5/- to £l4/17/6. Good beef ranged from 39/- to 41/6 per 1001 b, medium 36/- to 38/-, ordinary to 35/6, inferior down to 27/6.

The fat pig entry was of medium size and prices for porkers which were up 2/- to 3/- a head at the start, eased later to last week’s parity. Baconers were forward in medium numbers and pigs more than 1701 b were practically unsaleable and had to be diverted to the works at chopper prices. The average per lb for porkers was 64d to 7Jd and for baconers 51d to 6Jd.

LIABILITIES Jan. 12 Jan. 19 • £ £ General reserve fund 1,500,000 1,500,000 Bank notes 24,130,531 23,853,407 Demand liabilities— State 10,302,218 10,297,530 Banks 14,186,706 14,131,021 Other 398,426 154,422 Liabilities in currencies other than N.Z. currencies 22,195 21,820 Other liabilities 1,143,159 1,143,159 TOTAL 51,683,237 51,141,362 ASSETS Reserves— Gold . 2,801,874 2,801,877 Sterling exchange 12,135,911 13,177,996 Subsidiary coin 60,195 70,640 Advances State or State undertakings— / Marketing Dept. 7,102,235 7.218,489 For other purposes 22,500,000 22,500,000 Investments 3,842,470 3,869,006 Other assets 1,510,925 1,619,606 TOTAL 51,683,237 51,141,362