FINANCE AND COMMERCE

Taranaki Daily News, 19 December 1929, Page 19

FINANCE AND COMMERCE

DAIRY PRODUCE MARKETS. The butter market is weak at IsBs to 1625, and eheese is quiet, white being quoted at 87s to 88s, and coloured at 86s to 87s, states cabled* advice received by Newton King, Ltd., yesterday.

HAMILTON STOCK SALES. DATE RATES MAINTAINED. Hamilton, Dee. 17. There was a good attendance of buyers at the last stock sale of the year at Frankton to-day. A larger yarding cf beef sold at late rates. Sheep and pigs were penned in good numbers, Fat pigs brought better prices, while store lines were easier. The auctioneers report as follows:— Dalgety and Company, Limited. —Fat bullocks, £l-2 to £l4 2s 6d; light fat steers, £11; prime young cows, £l3; others,” to’£l2 ss; maiden heifers, to £ll 14s; ordinary fat cows, £8 to £lO 7s fid; light and inferior, £6 10s to £7 15s; light runners, £2 5s to £3 8s;. two years and three year steers, £8 10s; 18-months mixedbred heifers, £5 2s fid; small yearling heifers, £3 4s; dairy cows and heifers, to £0 15s; best fat wethers, to 28s; fat wethers; 26s 9d; fat shorn hoggets, 27s 9d; fat ewes, light, 15s; heavy baconers, £3 16s to £4 ss; medium baconers, £3 8s to £3 11s; best porkers, £2 16s to £3 3s;. light, £2 8s to £2 12s; large stores, £1 15s to £2 2s; slips, £1 6s to £1 12s; best weaners, 20s to 255; small, 12s to 15s. New Zealand Loan and Mercantile Agency Company, Limited. —Fat bullocks, £l3 os to £l4 16s; fat cows, £lO 17s fid to £l2 15s; lighter,’ £8 to £9 10s; unfinished, £6 15s to £7 10s; heavy baconers, £3 18s to £4 9s; light, £3 5s to £3 12s; porkers, £2 10s to £2 18s. Farmers’ Co-operative Auctioneering Company, Limited. —An extra large yarding of. all classes of beef and fat sheep. Good quality fat steers and young cows met with keen competition and the whole yarding was cleared at late rates. Pigs were penned in average numbers, while. store cattle and sheep realised prices on a par with last week’s quotations. We quote: Fat bullocks, £l3 17s to. £l4 9s; medium, £l3 to £l3 14s; light, £l2. 7s fid to £l2 15s; fat cows and heifers, £lO to £ll 13s; medium, £8 7s 6d to £9 17s; light, £7 3s to £8 Is; forward conditioned, £6 12s to £7; store cows, £3 12s 6d to £6 7s 6d; vealers, 34s to £3 1.1 s; 15 months Jersey heifers, to £7 ss; fat shorn wethers, 27s to 28s; fat ewes, 24s 3d; fat lambs, 19s 9d to £1 6s 6d; aged ewes, 13s fid to 14s; heavy baconers, £3 16s to £4 2s; medium, £3 10s to £3 13s; light, £3 3s to £3 7s; heavy porkers, £2 15s to £3 Is; light, £2 os to £1 Ils; slips, 33s to 375; weaners, 20s to 295.

G. W. Vercoe and Company, Limited. —Prime heavy fat bullocks, £l5 2s fid to £l6 2s fid; heavy, £l4 5s to £l4 10s; light, £ll to £l3 ss; prime heavy fat cows, £l9 16s to £ll 10s; heavy fat, £9 5s to £lO ss; light, £7 15s to £8 10s; forward conditioned cows, £5 10s to £7 10s; heavy fat wethers, 28s to 28s 9d; heavy baconers, £3 12s to £3 18s; light, £3 3s to £3 10s; heavy porkers, £2 10s to £3; light, £2 to £2 Ss.

JOHNSONVILLE SALE. At the Johnsonville sale, Wright Stevenson and Co., Ltd., and Abraham and Williams, Ltd., submitted a smaller yarding than usual of all classes of stock. This was accounted for by the fact of there being an extra sale this week, which will be held on Friday. The cattle offered comprised mostly medium-weight bullocks with a few pens of heavy sorts; no cows or heifers came forward. Competition was good at last week’s limits. The quality of the sheep was good, prices for wethers being on a par with last week’s rates, ewes showing an easing tendency. Lambs were yarded in small numbers, the quality was not up to the usual standard. However, a total clearance was effected at prices on a par with last week’s rates. An extra sale will be held on Friday, when a large yarding will be offered, this being the last sale till the New Year. The next sale will be held on Friday, January 3. At Friday’s sale a large yarding of prime lambs will be offered for the Christmas trade. Prices at yesterday’s sale were:—Extra heavy bullocks, £l6 10s, £l7 7s 6d, £l7 15s; heavy bullocks, £l4 12s 6d, £l5, £l5 12s 6d, £l6 2s 6d; medium and light bullocks, £l3, £l3 10s, £l3 12s 6d; heavy wethers, 275, 27s 7d, 27s lOd, 28s; medium shorn wethers, 26s j nfecag

wethers, 18s 6d, 19s, I9s Hid, 20s 3d; hoggets; good, 23s 6d; lambs, 19s, 20s, 21s, 225, 245. GEAR MEAT COMPANY. THE ANNUAL MEETING. A TRYING YEAR. Mr. Allan Strang (chairman of directors) presided at the annual meeting of the Gear Meat 1 Preserving and Freezing Company. ’,' “In moving the adoption of the report and balance-sheet,” said the chairman, “I have pleasure in congratulating you upon the results of the year’s operations. At the commencement of the season the prospects for mutton and lamb looked encouraging, but towards the end of February it became evident that high prices for lamb would not prevail and an endeavour was made to meet the position, but the market never recovered; on the contrary, it steadily declined (except "for one brief period) throughout the year. This was largely brought about by,the drought in England during the early part of the summer, which had,.the effect of forcing anything killable on to the market, and by largely increased supplies from South America. Mutton, on the whole, was fairly satisfactory, although the usual fluctuations took place. The market for tallow was disappointing, and a drop of almost £4 per ton took place during the year. “Pelts opened' well and satisfactory jMciya obtained during the best (

part of the season, but for later supplies considerably lower values had to , be accepted and to-day they are almost unsaleable except at very low prices. The same remarks apply to hides. Our wool sold well up to and through the May sales, but after that a big drop took place and lower values have had to be accepted ever since. You will be pleased to know, that your directors kept shipments very close and a large portion of our stock was disposed of in May. The prospects for the coming season for producers or for freezing companies are not as bright as we are accustomed to hope for. Wool, tallow and pelts are all realising low prices and with the generally increased exports of lamb (in which the company is most vitally interested) from Louth America and Australia, together with the expectation of considerably increased supplies from our shores, it looks as though a much lower average of values will have to be accepted. Stock has come through the winter fairly well/ although there was a large mortality of old’ewcs and hoggets in some districts. Owing to the wet and windy weather prevailing, fats are late in coming in, but everything points to a big export season. The flocks of the Dominion this year constitute a record, which has been largely brought about by the top-dress-ing 3 of pastures, thus enabling the farmers to carry considerably more stock and at the same time to carry it well. “Your directors have, as was indicated in last year’s report, paid you a larger interim dividend, which, of course, , will reflect on that which you are now asked to pass. The property and plant at Pctone have been well and efficient-, ly maintained, and the latter is equal to any call which may be made upon it.

“In conclusion I wish to extend to-the general manager, head office and Lon* ■ don staffs, buyers, heads of and employees generally the thanks of the board for the good . work which they have so faithfully performed dur; ing the year. I now beg to adoption of the report and balance sheet.” The motion was seconded 'by Sir old Beauchamp and carried without ;:<u| cussion. ■’ The chairman moved that the diVig dend for the* year be Is 9d per.:fijharo (less 9d per share paid as an intend dividend) and 6d bonus per share front the insurance fund. This was agreed ,to. On the motion of Sir.- Harold champ Sir Francis Bell and Mr. •Aw’M Bathe Brandon were re-elected directors of the company. , SHAREMARKET TRANSACTIONS.; Wellington, December 16.—Reported sales: 5J per cent. Bonds, 1933, ss; New Zealand Breweries’ bonds, 28s? Bank of New South Wales, £4O Staples and Coy., 535; Newton Kin (pref.), Is 7d; Mt. Lyell, 41s sdJcuin. div.); New Zealand Brewery (10P? cent, bonds), 28s 4d; Wellington. True and Loan, £7 3s. . Christchurch, December 18. —'Sales.<-o | Exchange: New Zealand Breweries Bonds, 28s 2d (two lots); Bank of Nev Zealand, 58s 6d; Union Bank of Aus tralia, £l3; New Zealand Drugs, W. Wilson’s Cement, 41s 3d; MahaKipa'Wa? > 4d (three lots).