FINANCE AND COMMERCE

Taranaki Daily News, 9 June 1930, Page 16

FINANCE AND COMMERCE

DAIRY PRODUCE MARKET FIRM. BUTTER ADVANCES DURING WEEK. t There was a slightly better tone in the butter market in London last week. Best brands of New Zealand on Friday were commanding Is more than in the previous week, with Danish Is to 2s ahead of New Zealand. ’ Quotations cabled to Newton King, Ltd,, were: Salted butter, 124 s to 126 s (124 s to 126 s the previous Friday); unsalted, 138 s to 144 s (138 s to 150 s); whey firsts, 116 s (116 s whey seconds, 114 s (114 s Cheese prices remained about the previous week’s level; buyers were a little more active and the market was firmer towards the close. Coloured was 82s to S3s (81s to 83s) and white 76s to 77s (75s to 765). Collett and Co., Ltd., received the following cable advice from its British principals:. Creamery butter is 127 s to 129 s a cwt, white cheese 76s to 78s and coloured 82s to 84s. The -butter market ia firm at 124 s to 128 s for salted and 138 s to 142 s for unsalted, Mr Hunter Harrison was advised. Cheese was steady with white at 76s to 77s and coloured 82s to 83s. The Anglo-Continental Company wa,s cabled that butter was 128 s to 130 s, white cheese 76s to 78s and coloured cheese 82s. FROZEN MEAT IN LONDON. . QUOTATIONS FOR LA&T.WEEK. By Telegraph—Press Assn. —Copyright. Rec. 5.5 p.m. London, June 7. Quotations on the frozen meat market this week are: — New Zealand sheep: Canterbury and North Island selected crossbred wethers and maiden ewes, 571 b to 641 b, 4fd per lb; ditto, 651 b to 721 b, 4Jd; North selected crossbred wethers and maiden ewes, 481 b to 561 b, sd; ditto, 571 b to 641 b, 4 5-Sd; ditto, 651 b to 721 b, 4£d. Australian sheep: Ewes, 301 b to 551b‘, 3 3-Bd. Argentine sheep: First quality crossbred wethers, 481 b to 641 b, 4d a lb;' ditto, 6,51 b to 721 b, 3|d. Patagonian sheep: Wethers and/or maiden ewes under 501 b, 4d -a , lb; ditto, 501 b to 601 b, 3£d. ; New Zealand lambs: Canterbury, 361 b ; and under, 9 1-Sd; ditto, 371 b to 421 b, | B£d; ditto, 431 b to 501 b, Bid; second i quality, average 331 b, 8 l-8d; other < South Island brands, 361 b and under, 9d; ditto, 371 b to 421 b, 8 3-8 d; ditto, 431 b to 501b,'8 l-8d; selected North Island brands, 371 b to 421b,' 8 Ad; ditto, ] 431 b to 501 b, Sid; second quality, average 311 b, B|d; other North Island brands, first quality, 361 b and under, 8 7-8 d; ditto, 371 b to 421 b, 8 3-8 d; ditto, second quality, average 311 b, Bjd. Australian ■ lambs.—Victorian, first quality, 361 b and under, 7 3-8 d; ditto, ] 371 b to 421 b, 7d; second quality, 361 b < and\ under, other States, second 1 quality, 361 b and under, 7d; all States, 1 third quality, 7£d- Argentine lambs: i First quality, 361 b and under, 71d; ditto, i 371 b to 421 b and 431 b to. 501 b, 6 Ad. i Patagonian lambs: First quality, 361 b ] and under, 6 7-8 d; ditto, 371 b to 421 b, 6]d; ditto, second quality, average 301 b, < 6 5-Bd.

New Zealand frozen beef: Ox hinds, 1601 b to 2201 b, 5Jd. Australian frozen beef: Ox crops, under 1001 b, 3 l-8d; ditto, over 1001 b, 3Jd; ox hinds, under 1601 b, sd; over 1601 b, s£d. Argentine chilled beef: Ox hinds, 1601 b to 2201 b, New Zealand pigs: First quality, 601 b to 1001 b, 7fd; other unchanged. SHARE MARKET TRANSACTIONS. Auckland, June 7.—Sharemarket sales: Bank of New Zealand, £2 19s 9d; British Tobacco, £2 Is; Milne, and Choyce, debenture stock, £1 6s; Wilson’s Cement, £2 ss; Waihi, 13s 8d; Mount Lyell, £1 9s 6d; Auckland Gas, 1935, 6J per cent., £101; Gisborne Sheepfarmers, £B2. Wellington, June 7. —Reported sale: Commercial Bank of Australia, 22s 6d. Dunedin, June 7. —Sale on exchange: Okerito, 2s 9d prem-

LIVE STOCK SALES. PRICES AT FEILBING. At the Feilding sale on Friday there were heavy yardings of fat lambs and ewes, showing slightly improved quality, a. d prices were at the previous week’s rates. Only a few lines of wethers were offered and these sold at late rates. Store sheep were yarded in fair numbers, and dairy cattle were offered in increasing numbers. Good quality sold at the previous we’ek’s rates. The fat cattle penned did not - carry the condition of the entry offered a week earlier, and prices were down slightly. Prices were: Prime fat lambs, 20s 6d to 22s 4d; blackfaced shorn prime lambs, 21s; medium, 18s; lighter, las 6d to 10s; ewes, prime heavy, 18s 6d to 18s 7d; good, 16s 3d to 17s 7d; medium, 15s; light, 12_s to 14s; prime heavy wethers, 235; good, 20s to 20s 4d. Store sheep: Mixed age ewes, running with Romney rams, 20s 3d; two-tooth to five-year ewes, running with Southdown rams, 14s 3d; four and .five-year ewes, 10s; aged ewes, 12a 4d; empty ewes, 7s Bd. Good dairy cows, £lO to £ll 10s; fair, £7 15s to £8; aged, £5 10s to £7 12s 6d; cows at drop, £9 best heifers, running with bulls, £10; black and white light fat cows, to £6; Jersey heifers, to £7; black, heifers, £8; light steers, £6 15s to’ £7; vealers, 50s; Shorthorn heifer stores, 37s 6d; Jersey heifers, £2 15s to £3; Jersey cows, empty, £3 5s to £4 ss; good weaner heifers, £3 Gs; Polled Angus steers, £G Is; bulls, £3 Is.

SKINS, HIDES AND TALLOW. > PRICES AT WELLINGTON. The fortnightly Wellington sale of tallow, skins and hides was held on Friday. The brokers offered a fair quantity • of skins, and an attractive catalogue of hides, the latter experiencing good competition from both tanners and shippers. Dry sheepskins were in keen demand, good pelted skins showing an advance of about Jd per lb. Hides, generally, were keenly competed for, particularly the well-conditioned lots. Light and heavy ox showed an advance while medium ox improved fully 5-8 d to i[d per lb. Cow hides also showed a rise of 3-8 d to id per lb, and yearlings sold on a parity with the previous sale’s values. A small quantity of calf was offered, these realising about the previous sale’s rates. The range of prices is as follows: — Dry sheepskins. —Half bred, 7 Ad to fine crossbred, 7jjd to 9d; medium crossbred, 6.? d to Bfd; coarse crossbred, 6|d to BJd; half wools, 4£d to B|d; quarter wools, 5d to 8d; pelts, 4Jd to 7id. Salted skins. —Quarter wools, 3s 6d to

4s 3d; half wools, 3s to 5s 6d; threequarter- wools, 4s to 5s lid; full wools, 6s 7d; lambfl, 2s to 3s 9d. Hides. —Ox, 331 b to 401 b, 5 7-8 d to 6Jd; ox, 451 b to 521 b, 5Ad to 6d; ox, 531 b to 591 b, s£d to 6 5-8 d; ox, 601 b to 691 b, 6|d to 7d; ox, 701 b and over, 6d to 7id; cow, 331 b to 391 b, 5d to 64d; cow, 401 b to 481 b, 4Ad to 6£d; cow, 491 b and over, 4Jd to 5 7-8 d; kip, 251 b to 321 b, 5d to 6|d; kip, 171 b to 241 b, 5d to 8 5-8 d; yearling, 111 b to 161 b, to 9d; calf, 91b to 101 b, 5Jd to 6|d; calf, 61b to--81b, 51d to lid; calf, 11b to 51b, 9d to lid. Tallow. —In casks, 245; in tins, etc., 16s to 225. Sundries.—Cpw tails, 12 Jd to 13d; horse hair, 16d to 214 d. -MARKETING ASSOCIATION. INCREASED TURNOVER. The directors of the New Zealand Producers’ Co-operative Marketing Association, Limited, Wellington, in their tenth annual report and balance-sheet for the year ending April 30, 1930, advise a further increase in turnover during the season 1928-29, as against that of 1927-28. The amount of produce handled during the season 1928-29 was 120,397 boxes of butter and 143,860 crates of cheese, and also.a large quantity of frozen mutton, lamb, beef, pork, and sundries, to the total value of £1,988,880 6s. 2d., which exceeds the previous year by £53.3,454 12s. 4d. The increase in dairy produce handled was 1495 boxes of butter and 28,201 crates of cheese. For the season 1926-27 (the Dairy Control year) the produce handled was 88,714 crates cheese, 91,795 boxes butter, of the value of £928,914. For 1925.-26 the returns were £1,499,839. The directors have decided, after making allowance for a dividend of 5 per cent, on all paid-up capital, absorbing the sum of £655 7s. 3d., that th% balance be rebated in cash to consignors in accordance with the amount of business done with the association. The amount available for distribution was £3099, which was allocated to shareholders on the basis of 2s. 6d. in the £l., and to non-shareholders Is. 3d. in the £1 of commission charged. In doing this the directors departed from their usual practice of only allowing shareholders to participate in distribution of rebates, and believe that this action will meet with general approval of producers. The total amount rebated to consigning factories during the past . ine years amounts to £23,623 9s. Bd. The retiring directors are Messrs. H. D. Forsyth (Taranaki), T. Moss (Wellington), W. Bryant (Otago) and J. Smith (Southland), all of whom are eligible for re-election. Mr. C. D. Morpeth, auditor, offers himself for re-elec-tion. The company’s balance-sheet shows subscribed capital £13,563, and due to the New Zealand Produce Association, Ltd., London, £8358; sundry creditors are £242, profit £1 6s, Assets include cash £1603, shares in New Zealand Produce Association Ltd., London, £2500,-

PEDIGREE CATTLE SALES. DISPOSAL OF FRIESIANS. The sale of pedigree and grade Friesians on account of Mr. R. S. Tuck, jun., was conducted at Waharoa, Waikato, this week, before a fair attendance of buyers. Competition was ’ not particularly brisk, but practically the whole of the catalogue changed hands at fair pjices. The top price for pedigree cows was paid for Matamata Ormsby V., which was purchased by Mr. A. F. Perkins, of Taradale, Hawke’s Bay, for 33 guineas. The 27 pedigree cows averaged 17J guineas. Eight iu-calf heifers averaged. 17 guineas, and yearling pedigree heifers averaged 11J guineas. Pedigree bulls averaged 15 guineas. Twenty grade..cows averaged £10; yearling grade heifers averaged £4 ss, and yearling heifers in calf to pedigree bulls averaged £ll.

PEDIGREE JERSEY SALE. BULL BRINGS 305 GUINEAS. A sale of pedigree Jersey cattle was conducted at Claudelands, Hamilton, on Thursday. Tire top price of 305 guineas was paid by Mr. G. Hull, Silver-stream, for the imported bull Glow’s Tiddledewinks Syracuse, offered on account of Mr. C. Coulter. Another bull, Usurper, sold for IGI guineas, the purchaser being Mr. L. L. Orr, Horahora. Five other young bulls averaged 34 guinea's. Fifteen cows from Mr. Coulter’s herd averaged 61 guineas, the top price being 140gns, which was paid for Hawkesbury Cara by Mr. F. S. Day, Tamahere, Another cow was bought by Mr. J. A. Court, Auckland, for 100 guineas. Mr. A. B. Dale’s offering of Conandale bulls sold for an average of 27 guineas. The offering on account of Mr. T. Church, comprising ten well-grown heifers, met with spirited bidding, making an average of 46 guineas.

PEDIGREE SHORTHORN CATTLE. / The second annual sale of pedigree Shorthorn cattle on account of Mr. G. D. Hall, Kio Kio, was held on May 30, when buyers were present from all parts of the North Island, Christchurch, Nelson and Blenheim. The <’ <mand was keen for stock with good butter-fat backing, but other classes were dull of sale. Among the buyers were the following:—Ranstead Brothers, Matangi, bull, Pinedale Boss, 47| guineas; W. M. Barnett, Tai Tapu, Christchurch, bull, Pinedale Daisy Lad, 38 guineas; J. F. Lawrie, Warkworth, bull, Pinedale Aristocrat, 38 guineas; F. Green, Kihikihi, one two-year heifer in calf, Pinedale Snowy, 20 guineas; A. D. Bell, Clevedon, heifer in calf, Pinedale Bella, 23 guineas.