FINANCE AND COMMERCE

Taranaki Daily News, 27 September 1930, Page 3

FINANCE AND COMMERCE

TARANAKI STOCK MARKET INCREASED BUSINESS DONE. WEEK’S CONDITIONS REVIEWED. Newton King, Ltd's stock market Report states:— During the week full yardings have been the order at the various fixtures throughout the district. Keen competition has been displayed at practically every fixture, and full clearances have been effected. Beef valuers have not altered to any great extent since the last report, although suppliers are by no means plentiful and the market, if anything, has a hardening tendency. The majority of requirements are filled by paddock sales at the following rates: Heavy prime fat bullocks £l4 to £l5; medium weights £l3; lighter sorts £ll to £l2 ss; heavy prime fat cows and heifers £ll to £l2; lighter sorts £lO. Small entries have been submitted at the sales and with the limited nature of supplies keen competition is displayed and good prices have been obtained, up to £lO being paid for wellfinished, medium-weight cows, while lighter sorts have found a market at from £7 10s to £9.

Fat sheep supplies in North Taranaki are not plentiful. However, there seems to b® no shortage in the southern end of the district and most needs are being filled from these supplies. Heavy prime fat wethers arc being purchased at from 28s to 295, while lighter sorts are absorbed at up to 265. Heavy fat ewes are quoted at from 24s 6d. to 27s 6d, and sales to date .have' been reported at from 25s to 265, lighter sorts realising 225. There is a good inquiry for ewes with lambs at foot, but as yet only limited, supplies are being quoted and requirements are by no means easy to file. Of the quotations that have been received prices seem to range from 26s to 28s for good 4 and 5-year-old ewes with black-faced lambs at foot, while 2-tooths range from 30s to 32s 6d. .Sales have been recorded of the first-meution-e class at up to 265, while younger sheep have changed hands at the figures quoted. A few small lines of fullmouth sheep in light condition have been submitted and have realised from 22s to 245. Ewe hoggets are still in keen demand with limited supplies offering, and difficulty is experienced in finding suitable lines. Best ewe hoggets are realising from. 22s t 0.245, while medium sorts range iii value from 18s fid to 20s; Supplies of wether hoggets are perhaps a little more plentiful than those of ewes, and these find a market at up to 17s fid' for extra good sorts', while the medium class range in value from 14s to . 15s. ; A ready market is still in evidence for practically all classes of store cattle, although there are few male cattle offering by public auction. Yardings consist to a large extent of paddock cows' supplemented by a fair entry of works cows, 2-year empty heifers and sound, empty cows. Graziers are turning (their attention to cows suitable for fattening purposes, and cattle' of this class are subject to keen competition, good coloured sorts mak-i ing from £5 to £6, while others-change hands at from £4 to £4 15s. 'Vdlues for works cows have not changed and from £2 15s to £3 -10 s is being paid for the best conditioned sorts, while others find a market at from £1 10s to £2 ss. At the Stratford sale on TuesdayWndi afe/Inglewood on Wednesday good entries of both two-year-old empty heifers and sound, hold-over cows were submitted. Extra good two-year-old empty heifers changed hands at up to £7 19s at the Stratford fixture, while good sorts made from £C 5s to £6 15s, fair quality making £5 10s. Good quality young, sound empty cows realised up to £6, 12s 6d, while others found a market at from £4 15s to £5 ss. There exists a good inquiry for . male especially two-year-olds, but few quotations are being received.' Two-year-olds have changed hands at from £5 15s to £C ss,' while good three-year-olds find a market at from £8 5s to £8 15s and grown bullocks from £8 15s to £9 10s. There is a strong demand for extra good yearling heifers, but top quality cattle are not readily found and spirited competition is the order of the day. Prices pleasing to vendors are obtained. At Inglewood on Wednesday Newton King, Ltd., had a, splendid entry of the various classes of this age, and practically the whole offering changed hands at late prices,.choice fawn yearlings in good condition making up to £7 Ils, good quality ‘ cattle ■ realising from £6 4s to £6 i4s ; medium sorts £5 2s 6d to '£s 17s. Cattle of size, but mixed in colour, change hands at from £3 16s to £4 14s. - Hold-over cattle of -the best quality made from £3 3s to £3 10s,-while those a little mixed in colour, not in the best of condition,. changed hands at from £2 Ils to £2 15s.

Heavy yardings of dairy cattle are being offered but the quality, size and condition of the in-calf heifers, leaves room for ijnproveincnt. Good quality cattle,' close to profit, are in keen demand. and good prices are still being maintained, the prices being from £l3 to £l5. Fair sorts are finding a market at from £9 to £ll, while the smaller and poorer conditioned animals are not keenly competed for and change hands: at £olos.to £8 ss. Dairy cows are being yarded in fair numbers, and where good young genuine sorts ate offered, keen interest is displayed and realisations are made at from £l2 to £l'4 10s, while fair sorts change hands at from £8 to £9 10s. Aged and light conditioned sorts are dull of sale. DAIRY PRODUCE MARKETS. ADVANCE NOT MAINTAINED. The recent advance in prices for New Zealand dairy produce on the London market has not been maintained owing to the lack of business, according to cables received by Taranaki merchants. The New Zealand Loan, and Mereiutile Agency’s advice is: Choicest salted butter, 125 s to 127 s ■ (130 s stored, 127 s to 129 s last week); white cheese 75s (*ss); coloured 74s (745). The cheese market is quiet, A cable received by Mr. E. Griffiths states; The butter market is slow. New Zealand first 127 s to 128 s; Danish 14Gs to 148 s; Australian, 124 s to 12fis; stored. 2e to 3s less. Cheese is quiet. New Zealand white, 75s to 70s; coloured, 745; Canadian, white and coloured, 76- to 78s. The butter market is much weaker and there is less demand, buyers holding off for lower prices, states advice -eceived by Turner and Co. Danish, 140 s; New Zealand, 124 s to 1275; Australian, 124 s to 1255. The cheese advance has not been maintained and the market is dull with a downward tendency. White, 74s to 755; coloured, 755. Butter is quoted at 126 s with a little more doing at the reduced price, according to Joseph Nathan and Co.’s cable. Cheese is quoted at 75s for white and 74s for coloured.

BUSINESS IN SHAREMARKETS. Auckland, September 26. —Sharemarket sales: Commercial Bank of Australia, 14s 9d; National Bank of New Zealand, £5 2s fid; Bank of New South Wales, £3O 10s; Bank of New Zealand (late sale), 54s 3d; Union Bank, £9; Australian Glass, 245. LONDON WOOL RATES. HEAVY WITHDRAWALS MADE London, Sept. 25. At the wool sales 11.532’ bales wer® offered, including 5313 from New Zealand. About 4800 were sold. There was a moderate sized and representative offering of greasy Merinos, and a vary large supply of scoured, with a fair offerine- of New Zealand slipes. Prices were maintained, but tiiere were heavy withdrawals owing to the high limits. New Zealand greasy crossbreds sold as follow: Tutira, top irice 94d, average 9d; halfbred, Mandn, Hid and IOJd. The sales will close on November 7. Braford reports a poor market and no interest except for small immediate requirements. Quotations are: 64’s, 26d; fid’s. 24d; 56’s, ISAd; 50’s, 15d; 46's, 134 d; 40’s, 13 Id. PEDIGREE BULL SALE. TOP PRICE 50 GUINEAS. ,/ Hamilton, Sept. 25. The annual sale of pedigree bulls, conducted by the Waikato Combined Breeders’ Association, was continued at Claudelands to-day before a good bench, of buyers. Competition was very much keener than on the first day and very few of the lots were passed in. The 113 bulls sold, all of which were yearling and two-year-old Jerseys, averaged about 21igus., as compared with lljgns yesterday. The highest price for the day was 50gns, paid by Mr. H. S. Stembridge, of Waihou, for the two-year-old Ebors Sultan’s Boy. The vendor was Mr. R. J. Wilson, of I’utarui'u, who was also the breeder. The sale will be continued to-morrow, when the remainder of the catalogue, Comprising 227 yearlings and two-year-old Jerseys, will be disposed of. Following were the principal sales and purchasers to-day: — Ebors Sultan’s Boy, 50gns, Mr. H. S. Stembridge, Waihou; Derelict Victor of Bulls, 49gns, Mr. K. W. Dalrymple, Waharoa: Sunrise of Tamahere, 49gns, Mr. G. Were, Motumaoho;. Fairy Meadows Skipper, 43gns, Mr. E. Jones, Claudelands; Fairy Meadows Gold Boy, 42gns, Mr. G. Saxon, Morrinsville; Beuvelande Perfection, 41gns, Mr. ,H. R. Clark, Te Kawa; Summer King of Tamahere, 38 gns, Mr. K. Butler, Pukeroro; Meadowlea Socks, 43gns, Mr. Turnbull, ; Tamahere; Meadowlea Batchelor, 34 gns, Fisher Bros., Pukerimu; Nancy's Masterpiece, 34gns, Mr. J. Hogan, Manawaru; Master of Bulls, 33gns, Mr. F. Jones, Eureka; Greencraft Owler, 32gns, Mr. F. E. Garrett, Te Bore; La Cima’s Nobleman, 31gns, Mr. R- J. Nieley, Cambridge;. La Cima’s Major, Signs, Mr. H. A. Walters, Otorohanga. Ethelbert, 31gns, Mr. H. J. Barfoot, „ . Morrinsville; King’s Master, 31gns, Mr. C. Saxon, Morrinsville; Greencroft Laddie, 30gns, Mr. A. J. Freegard, Motumaoho; Kowhai Park Admiral, 30gns, Mr. P. H. Sexton, Tatuanui; Ebors Molly’s Boy, 27gns, Mr. A. Savill, Tamahere; Zealandia’s Noble Boy, 27gns, Prine v Pedro, 27gns, Mr. H. A. Walters, Otorohanga; Allen of Bulls, 27gns, Mr. K. W. Dalrymple, Waharoa; Peatlands Climax, 27gns, Mr. A. Knight, ton; Bonny-Glen Justice, 27gns, Mi\j K. Butler, Houtapu; Kowhai Park Aus-, sie, 2Ggns, Mr. O. R, Beaton, Waerengajj . Penzance Clarion, 25gns, and Peterangi' Champion, 25gns, Mr. H. A. Walters, Otorohanga; Greencroft Aristocrat, 25 gns, Mr. J. O. 3tark, Morrinsville; Kow-. hai Park Acorn, 25gns, Mr. J. S. Fisheij Pukerimu; Fairy Meadows Teddy, 25 gns, Mr. C. Hazelton Waihou. CANTERBURY MARKETS QUIET. LOW PRICES. FOR POTATOES. Christchurch, Last Night. Merchants are merely marking time at present, as there is no produce to sell, with the exception of potatoes. Even these have eased in price since the mid-week report and there is very little inquiry for them. There is still a good quantity of potatoes in Canterbury, but some growers say that they would prefer to allow their potatoes to rot than accept the prices that are at present offering—£l 10s to £2 Jo.; a ton on trucks. A line was sold during the week at £3 on trucks, but since °then the price has fallen 5s to ; 10s .a ton. Some, merchants decline to deal in old potatoes after the end of September, but others have been known 1 > do their last, business in October. The Karepo will load at Lyttelton on Monday and Tuesday next. She will . probably take 4000 sacks of potatoes from Lyttelton to Auckland and about 2000 sacks from Tim'aru. There is very little business in oats or chaff. Chaff from Tasmania continues to come on to the Auckland mar-. kC. It is not of such good quality as the Canterbury chaff, the value of which to-day is £5 a ton on trucks. Only an odd line of oats changes hands.' Today's quotations are 4s Id for A’s and 4s for B’s for prompt delivery. Southern oats are quoted at 3s 7d to 3s 8d for • A’s f.o.b. • cks in. Some Canadian oats y aie expected to reach Auckland about the encl of the month.

A good many of the Canterbury onions did not keep well and stocks are not now large. Canadian onions are expected here'next month and it is anticipated that they will meet a good demand.