Commercial INVERCARGILL STOCK EXCHANGE

Southland Times, Issue 24773, 18 June 1942, Page 3

Commercial INVERCARGILL STOCK EXCHANGE

There was a firmer market on the Invercargill Stock Exchange yesterday for Bank of New South Wales shares. National ox New Zealand were also higher in price. Quotations: — Government Debentures.—4 P-c. Stock 1943-46, b £lOO/10/-; 4 p.c. Stock 1946-49. b £103: 3>/ 2 p.c. Stock 1953-57, b £lO2/10/-; 3>/ 4 p.c. Stock 1957-60, s £lOl/15/-; War Loan 1953, b £9O/10/-. . , * Banks.—Commercial, b 13/6; National of New Zealand, b £l/18/-; New South Wales, b £27/10/-; New Zealand, b £l/18/3; New Zealand Long "D” issue, b £l/9/-. Breweries. —New Zealand Breweries, b £1 9/3. Coal.—Kaitangata, b £l/10/-; Westport Coal, b £l/3/6; Westport Stockton (ord.), s 3/2. , „ Insurance.—National, b 18/6, s 19/-; New Zealand, b £3/3/6; South British, s £2 15/-; Standard, b £2/19/6. Loan and Agency.—Goldsbrough, Mort and Company, s £l/7/3; Perpetual Trustees, b £2/10/-; Trustees’ Executors (Dunedin), b £4/4/-; Wright, Stephenson (ord.), b 19/-; (pref.), b £l. Meat Companies.—New Zealand Refrigerating (£1 paid), b 19/9; (10/- paid), b 8/10, s 9/3; South Otago Freezing Company, b £5/2/6. Shipping.—Union Steam Ship Company (pref.), b £l/6/-. Woollen Mills.—Bruce, b £l/3/3; Kaiapoi (ord.), b 18/6; Mosgiel, b £lO/15/-. Miscellaneous.—Broken Hill Proprietary, b £l/14/6; G. J. Coles, b £2/6/-; D.I.C. (ord.), b 14/9; Dominion Fertilizer, s £1 0/6; Dominion Rubber Company, b 5/-; Donaghy’s Rope and Twine, b £2/9/6; 1.C.1. (pref.), b £l/3/6; McDuffs Ltd. (pref.), s £1; Milbum Lime and Cement, b £l/15/9; New Zealand Drug, b £3/12/6; New Zealand Guarantee Corporation, s 3/-; New Zealand Paper Mills, b £l/11/-; Otago Daily Times, s £l/19/-; Southland Ice Cream, b £l/1/6; Woolworths Ltd., b 14/-; Woolworths (N.Z.), b 13/-.

Mining—Broken Hill South, b £l/0/6; Gillespie’s Beach, s sd; Mount Lyell, b £1 3/6; Mount Morgan, b 7/6. NORTHERN EXCHANGES

AUCKLAND.—SaIes: Union Bank £6/18/-; Dunlop Rubber 17/-; Bonds 1953-57 S l /? p.c. £lO3/15/-; Stock 1953-57 3% p.c. £lO3 (2); Otorohanga Town Board 1960 £106; Commercial Bank of Australia 14/2; New 1 Zealand Insurance £3/4/3; Auckland Gas 6/5 (2); Mount Morgan 7/3; National Insurance 18/10; New Zealand Breweries £l/10/3; Booth Macdonald (pref.) 5/-; War Loan 1946 2>/ 2 p.c. £9B/7/6. CHRISTCHURCH.—SaIes: New Zealand Refrigerating (10/- paid) 8/11. Sales reported: National Insurance 19/- (2); New Zealand Refrigerating (£1 paid) £l/0/1; Westport Coal (late Tuesday) £l/3/11; New Zealand Breweries £l/10/-; Milburn' Lime £l/16/4',4; New Zealand Newspapers £1 10/-. DUNEDIN.—SaIes on ’Change: New Zealand Refrigerating (£1) £1; WestportStockton (ord.) 2/10; Southland Ice Cream £l/3/-; National Insurance 18/9 (2). Sales reported: National Insurance 19/-, 18/9 (2); Bank of New Zealand £l/18/9; D.I.C. (ord.) 14/9; New Zealand Drug £3/13/6. WELLINGTON.—SaIes: 2'/ 2 p.c. Stock 1946 £9B/2/6; Auckland Gas 6/6; New Zealand Breweries £l/10/3.

CITY MARKETS

DEMAND FOR SEED WHEAT

Little business has been transacted in the grain and produce markets during the last week and supplies in the fruit and vegetable marts have been light and restricted in variety. OATS—The market has been quiet during the week with fewer samples offering. The millers are still congested for space with the result that contract oats will be held in the country until July. Shipping business has been very quiet. Good milling oats are worth 3/3 a bushel on trucks with undergrade samples according to value down to 2/6 a bushel. WHEAT—From the ’’demand for seed wheat it appears that there will be a substantial increase in the sowing of this crop in Southland this year. The fowl wheat market is quiet. Most of the out-of-condi-tion wheat has now gone into consumption. RYEGRASS—This market remains steady ' for good germinating lines, but unfortunately there are very few samples of this season’s seed that will give- a growth of more than 70 per cent. Merchants are fortunate in having a carry-over of last season’s high-germinating seed for their retail trade.

COCKSFOOT—It will not be many years before Southland is self-supporting in this seed. There was a substantial harvest this year, and although the seed is of a light and spongy nature, it has been commanding good prices. There has been a considerable export of cocksfoot, chiefly from the Canterbury district, during the autumn.

WHITE CLOVER— Most of this seed is now in merchants’ stores awaiting dressing, and although there is a good inquiry from overseas most of the local seed will be required for the local trade. MONTGOMERY RED CLOVER— This seed crop has not done well this year and the seed has failed to set. Several stands were tried with a header, but after a few rounds the crops were abandoned because of the poor yield. CRESTED DOGSTAIL— Very little export quality seed was harvested this year. The overseas market is quiet. Samples coming to hand are dark and of doubtful germination and merchants are not disposed to buy until the germination is ascertained. BROWNTOP— TIiis market has reached record heights this year. The crop was a poor one and at about the middle of the harvest high winds ruined the balance of the crops. APPLES IN SHORT SUPPLY Another quiet week has been experienced in the marts. Bananas, oranges and lemons are unprocurable and there is no word about fresh consignments. Apples have been in short supply. Prices of Delicious apples were advanced slightly this week and it is expected that further all-round rises in prices will be made almost immediately. Sufficient quantities of pears are now arriving, but the condition generally is on the green side. There is little change in the vegetable market. Marrows and pumpkins are in demand and fairly high prices are being obtained. Wholesale prices are as follows:—Carrots, to 2d per lb; marrows, to 2>/ 2 d per lb; parsnips, 2d to 2>/ 2 d per lb; pumpkins, to 3d per lb; swedes, 2/- to 2/6 a bag. SEPARATOR BUTTER AND EGGS Eggs (ungraded) were quoted yesterday by the Master Grocers’ Association at 2/5 (i to 2/6(4 a dozen wholesale and 2/9 to 2/10 retail. Graded eggs were quoted for wholesale prices as follows:—Heavy, 2/10, standard 2/8 and medium 2/6. Separator butter was quoted at from lOd wholesale and from 1/- retail, according to quality. BURNSIDeJtOCK SALE (P.A.) DUNEDIN, June 17. Another heavy entry of fat cattle at Burnside resulted in a further easing of medium and plainer descriptions, while prime quality were firm. Fat sheep, in which there was an exceptional showing of good ones, maintained late rates, while lambs sold at schedule rates. Baconers and porkers were in shorter supply and met with spirited competition, priced being the highest for some time. In the fat cattle section extra prime heavybullocks made to £l9/17/6, prime £l6/2/6 to £l7/7/6, medium £l2/12/6 to £l4, light £B/17/6 to £9/17/6, extra prime heifers to £l3/7/6, prime £9/17/6 to £ll/12/6, medium £B2/6 to £9/2/6, light £5/7/6 to £6/12/6, extra prime cows to £lO/17/6, prime £7/7/6 to £B/7/6, medium £5/17/6 to £6/17/6, light from £4. Prime heavy wethers sold to 41/-, prime 33/6 to 36/6, medium 27/- to 29/6, light 23/6 to 25/6, extra prime ewes to 30/-, prime 23/6 to 26/-, medium 19/6 to 22/6, light 14/6 to 16/-. Prime lambs sold to 30/- and medium from 24/6 to 26/-. This was the last lamb sale of the season. Young dairy cows close to profit were in demand at up to 10 guineas, other sorts realizing from £5/10/- to £6/10/-. ADDINGTON MARKET (P.A.) CHRISTCHURCH, June 17. Values at Addington today were little changed except for fat wethers, which were 2/- a head dearer. In the store sheep section best ewe lambs made to 26/6, medium to good wether lambs 17/- to 19/8 for the best, lower grades 15/3 and 16/8. The majority of the ewes offered were low in condition, the best price being 18/3 for four and five-year-olds. Other lines made from 15/3 to 17/- and low grade sheep 5/6 to 9/11. The highest price for wethers was 23/7 for two-tooths. Others made from 18/- to 19/6. In tlie fat sheep section extra heavy four-tooth wethers realized 43/4 and others from 41/10 to 42/4. The ewes were of mixed quality and the sale somewhat erratic, but last week’s prices were maintained. The fat cattle market opened erratically and continued so for most of the sale. There was no change for special beef, but values

for anything else were down from 10/- to 15/- a head.. The top price was £2O/17/6. The best beef averaged 39/- to 42/6 per 1001 b, good 37/1 to 38/6, ordinary 33/6 to 36/6, inferior cow beef to 27/-. FRIESIAN SALE AT PUKEMAORI The Southland Farmers’ Co-operative Association held a successful sale of Drumherlft Friesians on account of Mr R. J. Browne, Pukemaori, yesterday. The sale was held in ideal weather before a fair attendance of buyers from Otago and Southland. The top prices for the day were:— Cows, 27 1 / 2 gn; 2-year-old heifers, 25gn; yearling heifers, to 12>,4gn; bulls, 18 to 20gn; calves, up to lOgn. The Drumheriff herd was established in 1922 by the purchase of a bull and two cows from the Bainfield herd of Sir William Hunt. The high standard of these original cattle was maintained in subsequent purchases and an outstanding herd was built up. At yesterday’s sale 95 animals, including mature cows, bulls, heifers and calves, were offered. The demand was consistently good. Among the principal sales were the following:—Drumheriff Korndyke Kittie, cow, 7 years, at 27>/ 2 gn; Drumheriff C.G. Kittie, cow, 7 years, at 26gn; Drumheriff C.G. May Echo, heifer, two years, at 24 1 / 2 gn; Drumheriff C.G. May Echo Colantha, heifer, 2 years, at 21 1 / 2 gns; Drumheriff Sylvia Creamelle Echo, cow, 10 years, at 20 1 / 2 gn; Drumheriff C.G. May Echo Creamelle, heifer, 2 years, at 2O‘/ 2 gn; Drumheriff C.G. May Echo Dellhurst, heifer, 2 years, at 20 1 / 2 gn; Ohio King Pietertje, bull, 8 years, at 20gn.