FINANCE AND COMMERCE

Taranaki Daily News, 20 November 1930, Page 11

FINANCE AND COMMERCE

ADDINGTON STOCK MARKET. PRICES GENERALLY DECLINE. STORE SHEEP AN EXCEPTION. By Telegraph.—Pres--; Association. Christchurch, Last Night. Yardings in most departments at the weekly metropolitan market at Addington to-day were large and a feature of the sale was that values in the majority of the major sections recorded a decline. An exception was the store sheep sale. There was not such a- large yarding as at the “double” market and the sale was a satisfactory one. Dry sheep recorded an increase in value of Is a head. The entry of fat lambs was 680 head as compared with 900 at the “double” market.- There was a sharp decline and prices recorded a decrease of 4s a head. The lambs sold at about 8d per pound. Extra prime lambs made to 31s lOd, prime lambs 21s 6d io 245, medium lambs 18s to 21s, light lambs 15s to 17s. As at the last sale there was a very large entry of fat sheep. The total yarding was 6200 as compared with 7200 a fortnight ago. The start of the auction saw values for ewes down a full 2s 6d a head and at the end of the sale that decrease was a full 5s a head. Wethers declined throughout the eale by Is 6d a head. Extra prime heavy wethers made 29s 10d, prime heavy wethers 23s to 26s 9d, medium weight prime wethers 19s to 22s 6d, second quality .wethers 15s to 18s 9d, inferior wethers Us 6d to 14s; extra prime ewes 23s 7d, prime ewes 19s to 225, medium ewes 15s to 18s, light ewes Ils 6d to 14s, aged ewes 7s to Ils; extra prime woolly wethers to 31s Id, prime woolly wethers 25s to 295, medium woolly wethers 23s to 24s 6d, second quality woolly wethers 20s to 225, inferior woolly wethers 15s to 19s; extra prime woolly ewes to 25i- lOd, prime woolly ewes 18s to 225, medium woolly ewes 12s 6d to 17s, light woolly ewes 10s 6d to 12s, aged woolly ewes 8s 6d to 10s.

There was an entry of 495 head of fat cattle as compared with 615 at the “double” market. The sale was a very dragging one and there was a very sharp decline in values. Heavy steers were down by from £2 to £2 10s a head and medium weight steers and heavy cows from £1 10s to, £2 a head. The average decline for all classes was £1 10s to £1 15s a head. The size of the entry and the period of warm weather had a depressing effect on the market. Best medium weight beef made from 41s to 45s per 1001 b., heavy beef made from 33s 6d to 37s fid, cow beef from 35s to 395, secondary beef 29s fid to 335, and rough down to 245. There was a very dull and dragging sale in the store cattle section, partly due to the fact that the quality of the entry was very much below standard, being in the main made up of cattle of uneven quality and bad colours. The sale w;X very disappointing and there were a great many passings. The entry of dairy cattle totalled 65 and the demand was poor, especially for backward springers and cows in profit. Good third and fourth calvers made £8 to £lO 10s, medium £5 to £7, inferior £3 10s to £4 10s, good springing heifers £8 to £lO, medium £6 to £B, inferior £4 to £5 10s, cows in profit (according to condition) £5 10s. The entry of fat pigs was heavy and included a number from the North Island. There was a fair demand for porkers and baconers, but prices for both were easier than a fortnight ago. Porkers made 45s 6d to 55s 6d, heavy porkers to £3 3s 6d (average price per lb. 7£d to 8d), choppers £3 to £6. baconers £3 6s 6d to £3 18s 6d, heavy baconers to £4 6s 8d (average price per lb. 6d to 7d). Store pigs were in medium supply, the yarding consisting largely of good weaners and slips. The market was a keen one. Large stores made 42s to 45s 6d, medium 35s to 38s 6d, small 29s to 33s fid, slips and good weaners 23s fid to 28s 6d, inferior weaners 16s Cd to 20s. SHAREMARKET BUSINESS. Christchurch, November 19.—Sales on Exchange: Commercial Bank of Australia, 17s 7d (3), 17s 6d; Bank of New Zealand (cum. div.), 56s lid, 57s (3); Dalgety and Co., £8 9s ; Goldsbrough Mort, 23s Id, 22s 6d; Christchurch Gas, 25s Id; Carlton Brewery, 245; New Zealand Breweries, 46s (4), 45s lOd (2), 45s Cd; Tooth’s Brewery, 25s (2); British Tobacco, 345, 33s Id, 335; Mt. Lyell, 21s 2d, 20s 2d; Mahakipawa Goldfields, 9d (4). Sales reported: New Zealand Government 4J per cent. Inscribed, 1. ’ >, £99 (2); New Zealand Breweries, 46s 3d (2); Tooth’s Brewery (late eale Tuesday), 255; British Tobacco, 34s (3); Colonial Sugar, £34 17s 6d; Electr Zinc (ord.), 13s 6d; Tooth’s Brewery, 255; Australian Bank of Commerce, 19s 9d; E. S. and A. Bank, £5 9s fid. Auckland, November 19.—Sharemar-

ket sales: Inscribed Stock, 1936, 5J per cent., £99 7e 6d; Commercial Bank of Australia, 17s 7d, 17s 6d; Union Bank £9 16s 6d; New Zealand Insurance, 42s 9d; Colonial Sugar, £34 17s 6d; Electrolytic Zinc, pref., 19s Id; Waihi Gold Mining, 14s; Mount Lyell (late sale Tuesday), 21s 3d. BLENHEIM OIL WELL. The Blenheim Oil Well Reclamation Company’s report for the week ended November 15 states: All the wire cable above the shackles on the drilling line, consisting of 150 feet, besides several pieces of steel, was recovered during th<. week. Many attempts to hook the shackles wer tried and it was eventually decided to put in a millstock and side track the drilling tools by milling out of the casing with the rotary plant.