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Taranaki Daily News, 14 June 1929, Page 12

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ADDINGTON STOCK MARKET. AVERAGE YARDINGS FORWARD. LITTLE DIFFERENCE IN VALUES. Christchurch, June 12. The Addington stock market was held to-day in wet, cold weather, when there were average yardings in most classes. The entry of store sheep was the smallest this season. Ewe lambs attracted attention, and prices for these recovered the easing recorded over the last few weeks to an extent of Is to Is 6d a head. The adult sheep offering consisted chiefly of tail-end consignments of station wethers and a few indifferent ewes. There was little animation about the sale, and values showed no quotable difference' from those ruling at the previous sale. Extra good ewe lambs made to 265; medium ewe lambs, 19s to 20s 6d; wether lambs, 16s to 19s; good six and eight-tooth Romney cross ewes, 31s to 32s Cd; extra good four and six-tooth three-quarter-bred ewes to 32s Gd; good four and six-tooth three-quarter-bred ewes, 25s to 27s 6d; extra good six and eight-tooth halfbred ewes, 28s to 30s; good six and eighttooth half bred ewes to 265; good s.m. halfbred ewes to 255; aged and inferior half bred ewes to 15s; good half bred wethers, 24s to 25s 6d. The quality of the 1000 or so fat lambs was good and was somewhat better than last week. The entry was smaller than at last sale, when 1600 were yarded. The sale was a satisfactory one throughout, with butchers and freezing works making competition. Values were much the same as they were a week ago, there being little quotable difference. Extra prime heavy lambs made 35s Id to 37s Id, prime heavy lambs 30s to 32s 6d, medium lambs 28s to 29s 6d, light lambs 25s to 27s 6d, store lambs to 235. Fat sheep. —The entry of fat sheep filled about ten races. The quality was mixed —there were some attractive sheep forward, but on the other hand there was quite a lot of lightly finished sheep. The sale was a good one, all sorts meeting with good inquiry. Butchers competed freely for heavier ewes, which were about Is a head dearer than last week’s prices, and. better class wethers improved to a similar extent. The balance of the offering sold firmly, with little difference in price. Extra prime wethers made to 42s lOd, prime wethers 33s 6d to 35s 6d, medium wethers 29s 6d to 31s 6d, light wethers 27s to 295; extra prime ewes to 32s lOd, prime ewes 30s to 32s 6d, medium ewes 24s to 28s, light ewes 20s 6d to 23s Gd, aged ewes 16s 6d to 18s 6d. Fat cattle.—The sale was an irregular one throughout. The yarding totalled 530 head as against 465 last week, the quality, however, being scarcely up to average, and there was a big proportion of unfinished cows. The sale on the whole was sound and there was a general improvement in prices of about 10s a head. Values per 1001 b were as follow: Extra prime beef to 445, prime 39s to 445, medium 34s 6d to 375, good cow beef 32s to 355, plain heavy cow beef 28s to 30s, rough down to 23s 6d. Extra prime heavy steers made to £23 12s 6d, prime heavy steers £l6 7s Gd to £lB 10s, medium weight prime steers £l4 7s Gd to £l5 10s, light steers £7 10s to £lO 7a Gd; extra prime cows to £l6 17s 6d, prime cows £lO 7s Gd to £l2 10s, medium cows £8 7s 6d to £9 17s 6d, light cows £6 10s to £7 17s 6d, rough and aged cows £5 7s 6d to £6 7s 6d; extra prime heifers to £l4 7s Gd, prime heifers £lO 10s to £l2 17s 6d, medium heifers £8 17s 6d to £lO 2s Gd, light heifers £5 12s 6d to £8 17s Gd, Vealers.—A small entry was forward, the quality of which was poor. Prices showed a sharp advance on late rates. Twelve to 18 months sorts made to . £9 IBs, good vealers £6 5s to £7 10s, medium £4 5s to £5 15s, calves 25s to 40s. Store cattle—A small entry of store cattle was penned with no outstanding line. Steers made £l9 15s, bulls £3 10s to £6 15s, inferior cows £1 15s to £2 10s, good cows £2 15s to £4, forward cows to £6 ss, yearling heifers £3 to £4, m.s. yearlings to £3 ss. Dairy cattle.—The market was similar to that of last week. Best second, third and fourth calvers made to £l6, good cows £8 10s to £l3, aged and inferior cows £5; best springing heifers £lO to £l6, others £7. Fat pigs.—There was a medium entry of fat p?gs, baconers meeting with fair demand and porkers with better demand. Choppers made 30s to £a 6s 6d, baconers £3 to £3 10s, heavy baconers £3 15s to £4 2s .6d, extra heavy to £4 9s 6d (average price per lb s|d to 6^d); porkers 33s Gd to 45s 6d, heavy 47s 6d to 54s 6d (average price per lb, 7d to 74d). „ , Store pigs.—There was a small entry of store pigs. Inferior weaners made 4s to 6s, good weaners 7s to 13s, small stores Ils to 14s, medium stores 14s Gd to 18s. good to 21s.

SYDNEY PRODUCE MARKET. WHEAT MARKET LIFELESS. By Telegraph—Press Assn. —Copyright. Received June 13, 9.15 p.m. Sydney, June 13. The wheat market is lifeless, quotations being 3s 7id per bushel at country stations, and 4s 2|d ex trucks at Sydney. Flour.—£ll 10s per ton. Pollard.—£7 per ton. Bran. —£7 5s per ton. Potatoes.—Tasmanian, £l7 per ton; Victorian, £l3 10s. Onions. —Victorian brown, to £IR Oats.—White, 4s Sd per bushed Maize.—ss 6d per bushel.

MARKETS IN NEW PLYMOUTH. PRICES FOR DAIRY FARM PRODUCE Prices for dairy farm produce ruling in New Plymouth this week were:—

JOHNSONVILLE PRICES. GOOD DEMAND FOR BEEF. Wellington, June 12. Wright, Stephenson and Company, Limited, and Abraham and Williams, Limited, report on the Johnsonville sale held yesterday as follows: We submitted an average yarding of all classes of stock. The cattle offered comprised good prime quality bullocks and several pens of fine heifers and cows. Competition throughout the sale was good and a total clearance was effected at prices on a par with last week’s rates. ’Wethers met with a good eale, but ewes, which were not up to the usual quality, were rather dull of eale. Prices for wethers and ewes were on a par with late rates. A small number of lambs offered sold freely. Quotations: Beef —Bullocks, extra heavy, £l6 5s to £l7; heavy, £l5 10s to £l6 ss; medium, £l4 10s to £l5 10s; light, £l3 to £l3 15s; heavy cows, £lO 10s to £11; medium cows, £9 15e to £lO ss; heavy heifers, £ll 10s to £l2 12s 6d; heifers and cows, light and unfinished, £6 to £8 7s 6d. Sheep—Heavy wethers, 37s to 38s 6d; medium wethers, 36s to 375; light and unfinished, 33s 6d to 34s 3d; ewes, extra heavy, 31s 6d to 335; heavy ewes, 28s 6d to 30s; medium ewes, 26s Gd to 27s 3d; light and unfinished ewes, 23s 6d to 255; heavy lambs, 28s Gd; medium lambs, 25s 6d to 27s 3d; light and unfinished lambs, 22s 9d to 245, BURNSIDE STOCK MARKET. HEALTHIER TONE SHOWN. Dunedin, June 12. There was a healthy tone about the Burnside stock sales to-day, only freezing sheep showing any easing. Fat cattle met with a good sale, and lambs and heavy sheep also sold well. Pigs showed little change, and etore cattle remained firm. There was a penning of about 2000 fat sheep, comprising a fair proportion of fine-woolled wethers and several pens of good quality ewes. Outstanding sheep were few. The opening demand for heavy sheep was good, and values rose by Is, but later the demand increased, and at the close values were up about 2s per head. The sale finished well, but freezing wethers and medium ewes eased slightly. Extra wethers made to 445, prime to 41s 9d, and medium to 295. The best ewes made to 355, and prime to 30s. There were about 900 fat lambs penned, the quality being from prime to fair. The demand was good and values were well maintained. The best made to 33s and prime to 31s, others realising from 23s to 28s. The entry of 131’fat pigs and 51 stores met with a slightly easier market, prices being just below those offered at the sale two weeks ago. The store cattle entry numbered about 250, including 100 yearlings and 50 station weaners. The balance comprised fair cows and medium steers. There was a good demand for all young cattle showing any breeding, and boners sold well at unchanged rates. There was fair to average quality in the yarding of 198 head of fat cattle. There were some good cows and a few extra prime bullocks. The sale opened firm at late rates, and improved as it progressed until at the close values were higher by about 15s per head. Extra prime heavy bullocks made to £23 7s 6d, prime heavy to £2l, and primes to £lB 10s; cows made from £ll 10s to £l3 10s, and heifers from £l4 to £l5 17s Gd.

A PROSPEROUS CONCERN. THE BANK OF NEW ZEALAND (From Our Own Correspondent). Wellington, June 13. The Bank of New Zealand is the Dominion’s bank, and it is an institution of which the country has every reason to be proud. The State is directly interested in the bank through holding shares, but the management of the institution has been in the hands, of trained bankers, who have by their careful and prudent management not only the principal bank in New Zealand, but also an institution whose credit and prestige stands high in the British Empire. It ■was fitting that the general manager of so important an institution should be honoured, and the knighthood conferred on Sir Henry Buckleton gave immense pleasure to bank officials generally and the staff of the Bank of New Zealand in particular. The bank has just issued its balancesheet for the year ended Marc’.- "I last, and the document attests once ; e that the institution is as sound and solid as could be wished, and is a consistent profit earner. The profit for the year under review is £912,954, as compared with £841,878 in the nrevious year and £847,671 in 1927. The profits of the past year have been swelled by certain recoveries and. provision for doubtful advances not now required. The dividend for the year is the same as for the previous year, and the State receives £244,433 by way of dividends, and, in addition, the bank paid £333,866 in rates and taxes, and furthermore telegrams and postages accounted for a fair sum. Could a State bank have done better, or even as well? If all the other trading affairs of the State and the municipalities were as well and as ef-

ficiently managed as the Bank of New Zealand “everything in the garden would .be lovely.” The latest balance-sheet shows assets at £54,561, and comprise coin and cash balances £7,172,140, money at call and short notice, Government securities and other accounts in London £9,097,107, New Zealand. Government securities £4,008,886, Australian Government securities £1,227,215, bills receivable in London £3,362,205, bills discounted £1,336,073, advances £21,505,379 and other smaller items. The reserve fund now stands at £3,425,000, the note circulation totals £4,290,793 and the deposits amount to £33,939,051. SHAREMARKET TRANSACTIONS. Wellington, June 13.—Reported sales: 5J per cent. Inscribed Stock (1933), £lOl se; Staples and Co., £2 8e 6d; Colonial Sugar Co., £5B ss; New Zealand Breweries, 71s. Christchurch, June 13. —Sales on ’Change: New Zealand Guarantee Corporation, 9s 8d; New Zealand Breweries, 71s (two parcels), 71s 2d; Mt. Lyell (cum. div.), 42s Gd. Reported sales: Dalgety and Co., £l5 2s Bd. Dunedin, June 13.—Reported sales: New Zealand Paper Mills, 19s Gd; Breweries, 71s. Auckland, l3.—Sharemarket sales; Auckland Harbour Board, 1947, 5/ 8 per cent., £lOl 10s; National Bank of Australasia (con.), £9 lie 9d; Queensland Insurance, 64s 3d; New Zealand Guarantee Corporation (ord.), 9s sd; Auckland Gas, 24s 4d (two "sales); Auckland Gas (con.), 18s; Devonport Steam Ferry, 235; Australian Iron and Steel (pref.), 21s lOd; Haywards Pictures, 20s 3d; Milne and Choyce (debenture stock), 26s 9d; New Zealand Paper Mills, 19s 8d; Taranaki Oil, 4s 3d; Wilson’s Cement, 425. MELBOURNE HIDE MARKET. PRICES OF ALL GRADES ADVANCE. By Telegraph—Press Assn. —Copyright. Received June 13, 9 p.m. Melbourne, June 13. The hides market is firm and all grades have advanced l-8d to a farthing per I'b. DAIRY PRODUCE IN LONDON. VARIATIONS IN PRICES. Following are the top London quotations for dairy produce for the past six week#: —

A study of the prices discloses a curious variation. Early in the month a steady improvement took place, only to receive a check and actually decline about the middle of the month. This was followed, however, by a more rapid advance, the market closing very firm at 172 s per cwt. for salted. After the initial improvement early in May, Danish butter weakned very considerably owing to the quality suffering with mixed feeding and with the increased production on the Continent and consequently heavier imports to the United Kingdom. With the improvement brought about by full grass feeding, Danish advanced smartly to 172 s and a firmer tone was immediately reflected upon the whole butter market. This, together with the decline in gradings in Australia and shipments from New Zealand, has firmed spot prices and despite the increase in New Zealand, gradings of nearly 10 per cent, for May, indications are that with a normal market prices are still more likely to advance than decline. This opinion is borne out by the recent forward buyers of stocks in New Zealand at Is 5Jd per lb net f.0.b., equal to approximately 178 s per cwt c.i.f. Cables state that the long awaited increased consumption of cheese has commenced with the warmer weather now prevailing in the United Kingdom and markets have in consequence shown a steady improvement despite the heavy stocks both in the United Kingdom and stored in New Zealand. The spot stocks are firmly held and consequently a still further advance may be expected. Against this, one must not lose sight of the fact that gradings for the past month increased by 14 per cent, over May of last year and that 9550 tons were stored in New Zealand on June 1 as against 4300 tons last year. Gradings and stocks (in tons) are: — Butter Graded.

Buying. Selling. s. d. 8 . d. Hams 1 li Bacon (rolls) 1 li Bacon (sides) 11 Butter (creamery) pats 1 3 > Butter (best separator) pats 1 2 1 4 Butter (separator) lump 1 1 1 3 Eggs 2 2 2 0

G—( to* t> fef t> p' t js' p’ js' So' < M 00 ro —I »— ‘ Ol s Gft O db CO CP OS co Danish butter. to o o GO Q Q O QD 00 CO «N.Z. unsalted. »—• to s co O a Q *4 00 Ci 50 N.Z. salted. ' o co co o CO oo 25 g 85 “ Cheese, white. CP g co o 00 oo co CGO O <e Cheese, coloured

During May . 1927 ... 3,250 1928 3,200 1929 3,400 Nine months to May 31 ... ... 69,750 72,350 79,000 In store May 31 8,100 4,400 6,600 Cheese Graded. During May . ... 4,000 4.750 5.200 Nino months to May 31 ... ... 74',500 73.600 84,500 In store May 31 9,400 4,300 9,550