FINANCE AND COMMERCE

Taranaki Daily News, 5 August 1930, Page 16

FINANCE AND COMMERCE

BUTTER MARKET QUIET. CHEESE PRICES STEADIER. The butter market is quiet. The retail price of Danish was increased last Monday to Is 7d per lb, but it is expected to be reduced to Is Gd this week. The cheese market is steady. Prices have recovered after ruling easier during the week. Retail prices are unchanged. The above report was received on Saturday by the New Zealand Dairy Produce'Board from its London office which gives market prices ruling on August 1, with those for the previous week in parentheses, as follows: — BUTTER. New Zealand, salted, 1365, 138 s (1355, 138 s; August 2, 1929, 1695, 1725); exceptionally choice, lR)s (140 s unsalted. 150 s (146 s, 150 s; August 2, 1929, 168 s, 1725); first whey, 130 s (1325); second whey, 128 s (130 s Australian, salted, 1345, 136 s (1335, 1365); unsalted, 1345, 13Ss (1345, 138 s). Argentine, unsalted, 128 s, 134 s (1265, 134s)° Irish creamery, salted, 138 s (138 s unsalted, 142 s (1425). Danish, 145 s f.0.b., 1545, 156 s spot (150 s 1555, 1565). (Offered to-night low as 140 s f.0.b.). Dutch, unsalted, 1445, 14Gs (148 s 150 s). Esthonian, 142 s ( ). Siberian, 1325, 134 s (1325). Polish, 116 s, 128 s (110 s 128 s). French' ba'skets, salted, 138 s, 140 s (138 s 140 s). CHEESE. New Zealand, white, 775, 795, up to 80s (78s, 795; August 2, 1929, 86s, 87s); coloured, 82s, 83s (83s, 84s; August 2, 1929, 90s, 91s). Canadian, white and coloured, 82s, 84s (82s, 84s); c.i.f., 80s (82s). English, finest farmers’ 925, 100 s (925, 98s). STOCKS AND DELIVERIES: The Empire Marketing Board’s estimate of stocks of all butters as at July 2G is 1,062,479 boxes. Deliveries of New Zealand butter for the week were 1450 tons as against 870 tons a year ago. The quantity in store is 9700 tons as compared with 8150 tons a vear ago. The Port Adelaide finished unloading her butter on July 26. The Rangitata started discharging her cheese on July 28 and her butter on July 29. Deliveries of New Zealand cheese for the week were 23,578 crates, as against 19.321 crates a year ago. The quantity in store is 117,683 crates, as compared with 117,997 crates a year ago. Deliveries of Canadian cheese for the week were 5359 boxes, as against 5526 boxes a year ago. The quantity in store is 122,101 boxes, as compared with 124,083 boxes a year ago. . FROZEN MEAT TRADE. SMITHFIELD MARKET STEADY. Lamb Market.—Firm for all prime lamb, but weaker for second quality. Heavyweight prime lamb has advanced in price owing to shorter supplies. Mutton market: Wethers steady with slightly better prices.' Ewes still slow of°sale. Beef market: Firmer owing to higher prices ruling for Argentine chilled beef. New Zealand porker pigs: In poor demand. New Zealand baconer pigs: Fair sales made at present prices. The above summary of Smithfield market conditions was-received on Saturday by the New Zealand Meat Producers’ Board from, its London office, which advises that the following are the approximate average prices realised for the week ended August'l, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative patcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield, market and/or ex London stores. Prices for the two previous weeks are also shown: New Zealand Sheep—Canterbury and South Island selected crossbred wethers and maiden ewes, 4Slb to 501 b, 4 7-Sd (4 7-8 d and 4?d); 571 b to 641 b, 4]d (4£d and 4}d) ; 651 b to 721 b, 4 3-8 d (4'3-8d and 4id). North Island' crossbred wethers and maiden ewes, 481 b to 561 b, 4 5-Sd (4 5-8 d and 44d); 571 b to 641 b, 4 .3-8(1 (4J and 4]d); Gslb to 721 b, 4 3-8 d (4Jd and 4Jd). Ewes, 481 b to 641 b, 3 l-8d (3d and 2Jd); 651 b to 721 b, 2 7-Sd (2 7-Sd and 2-Ad). New Zealand Lambs—Canterbury, 36 lb and under, 9d (9d and 9d); 371 b to 421 b, 8 7-8 d and Ski).; 431 b to 501 b, Sid (8 3-Sd and 8]d); second quality, average 331 b, 7Jd (7 3-8 d and 74d); other South Island brands, ,361 b and under, 8’ t d -(S:]d and S.id) ; 371 b to 421 b, S:fd (Sid and 8 3-Sd); 431 b to 501 b, 8 5-Sd (8 3-Sd and 84(1); selected North Island brands, including Downs, 361 b and under, 9d (9d and 9d): 371 b to 421 b. S’d (8 o-Sd and Ski) ; 431 b to 501 b, SJd (S 3-Sd and B.}d); second quality, average 311 b. 7.’.d (7 5-Sd and 7 7-Sd); other North Island brands, first quality 361 b and under. S 3-8 d (8 3-Sd and 8 3-Sd), 371 b to 421 b. Sid (SAd "and 8 3-Sd); second quality, average 311 b, 7-Jd (7 3-Bd-and 7 5-Sd)/ Australian Lambs.— first quality. 361 b and under, 7{d . (7d and 7d): 371 b to 421 b, 7/1 (7d and 6Jd) : Arsen tine lainb. first quality, 361 b and under. 6 5-Sd (6 5-Sd and 6 5-Bd'i; 371 b to 421 b. G-kl (6 3-Sd and 6]d). New Zealand Beef.—Ox fores. 3}d (3 1-Sd and 3d) ; ox hinds. 5 3-Sd (s]d and 5 l-Sd'i; cow fores and hinds, not quoted. Argentine Chilled Beef.—Ox lores, 4.,d (4 l-Sd and 3 7-Sd); ox hinds, 8 5-8 d (8 5-Sd and 8 1-Sd). Australian Frozen Beef.—Ok crops, over IdOlb, 3-Ad (3’ r d and 3 1-8<1>; ox hind*, over ICOlb, 5 3-Sd (5 3-Sd and New Zealand Prime Porker Pigs.—6l lib to iGGIb. 7d (7d and 7d): 1011 b to 1201 b, G 7-Sd (G 7-Sd and G;;d). New Zealand Prime Baconer Pigs1211b to ISOlh. GAd i'GAd and New Zealand Frozen VeaL—Not quoted. O.K. JERSEY SALES. ' BULL CALF AT 308 GUINEAS. At the annua' sale of stud Jersey cattle held by Mr. A. E. Watkins at Takanlni. near Auckland, on Thursday, 62 lots were sold for 3350 guineas. A great attraction of the eale was flic rising yearling sons of the imported herd sire, Oxford Beau’s Combination, purchased' at Wellington two years ago for the great sum of W guineas.

Twenty-one young bulls by this sire averaged 65 guineas. A great contest ensued for the nine-months-old bull, O.K. Nobly Born, and Mr. Fred Cullen, Maungaturoto, secured him for the record price of the year, 308 guineas. Several Taranaki breeders participated, but the final contest lay between Mr. Cullen and the Auckland breeder, Mr. Balfour Irving. Sired by Oxford Beau’s Combination, this bull was out of the great butter-fat cow; Woodstock Feeria, with a butter-fat record, as a four-year-’old of 7291 b fat. Mr. Irving later secured a young son of grampton Coy Volunteer (imp.) and Oaklands Silky, winner of the second Stratford Futurity Stakes, at 105 guineas. Th© bull calf by Oxford Beau’s Combination, which won first prize at the Auckland show last autumn, realised 104 guineas, to the bid of Mr. R. Hicks, Hawera. The best price for a two-year-old bull was 109 guineas for a son of Meadowvale Derby Day and the three-year-old Monandria, 7371 b fat. Tho purchaser was Mr. W. Murphy, Taranaki. The 39 bulls, which included eight two-jrear-olds, averaged 52 guineas, and. 23 heifers in-calf to Oxford Beau’s Combination and the undefeated yearling bull, Roseland Lord Aldan (imp.), averaged 58 guineas. There was a keen demand for the incalf" heifers. Ninety guineas was paid for a daughter of Me.adowvale Derby Dajr in-calf to Roseland Lord Aldan, and a similar price for a daughter of Fontqine of O.K. and in-calf to Oxford Beau’s Combination. MOTUROA OIL FIELDS, LTD. STATUTORY MEETING. The statutory general meeting of shareholders of the Moturoa Oil Fields, Ltd., was held at Wellington last Wednesday. The chairman of directors (the Hon. J. B. Donald) presided, and the statutory report, which had been previously circulated amongst, shareholders, was adopted. Applications for shares have .been coming in freely, and up to the present 66,150 contributing shares have been allotted. .Progress with the first well has been satisfactory, and drilling has reached a depth of nearly 1800 feet. Little or no damage was done to the well by the recent show of inflammable gas and drilling will be resumed in the course of a week or ten days. Meantime, the flow of gas continues, but the well is under control. SHAREMARKET TRANSACTIONS. Auckland, August 4.—Sharemarket sales: Australian Bank of. Commerce, 21s. 10Id.; Auckland Gas, 245.; Parker, Lamb Timber, Ils. Gd.; Sanford, Ils.; Taranaki Oil, 2s. 5d.; Waihi Gold Mines, 145.; Mount Lvell, 235. 6d.; rights, Is. 7d. Christchurch, August 4. —Sales on exchange: P. and O. Deferred Stock, 455. od.; 'Christchurch Gas (cum. div.), 255. 6<1.; New Zealand Breweries, 505.; British Tobacco, 375. 5d., 375. 6d.; Mahakipawa, 2id.; Cornish Paint (Is. paid), Gd. Sales reported: Commercial Bank of Australia (cum. div.), 21s. 4d.