FINANCE AND COMMERCE

Taranaki Daily News, 24 November 1930, Page 12

FINANCE AND COMMERCE

FROZEN MEAT IN LONDON. QUOTATIONS FOR LAST WEEK. Rec. 5.5 p.m. London, Nov. 22. Frozen meat inarkat quotations this week are:— New Zealand sheep.—Canterbury and North Island selected crossbred wethers and maiden ewes, 48/561b., 54d a lb'.; ditto, 57/641b., s]d; North Island ditto, 48/561b., si<l; ewes, under 481 b., 4 1-Sd; ditto, 48/641b., 5 3-Sd, Australian sheep.—Ewes, 30/551b.> 3 7-Bd. New Zealand Lambs. —Canterbury, 43/501b., 72d; ditto, second quality, 7 7-8 d; ditto, selected North Island brands (including downs), 361 b. and under, 8 5-8 d; other North Island brands, first quality, none offering. Australian Lambs. —Victorian first quality, 361 b. and under, BJd; ditto, 37/ 421 b., B|d: other ' States, first quality,. 361 b. and' under, 8d; ditto, 37/421b., 7<d; Victorian, second quality, 361 b. and’under, 7 3-8 d; other States, second quality, 361 b. and under, 7 l-8d; all States, third quality, 7d. - New Zealand frozen beef: Ox fores, 160-2201 b., 4d a lb.; ox hinds, 160/2201b., sid. 1 Frozen Beef.—Ox hinds, Under 1601 b., 5d a lb. Argentine Chilled Beef.—Ox fores, 160/2201b., 41d a lb.; ox hinds, 160/220 lb., 6-ld. New Zealand Pigs.—First quality, 60/ 1101 b., average 901 b., 8 l-8d a lb. Other quotations are unchanged. l LOAN AND MERCANTILE AGENCY. THE YEAR’S OPERATIONS. By Telegraph.—Press Association. Wellington, Last Night. The New Zealand Loan and Mercantile Agency Company Limited has received a cablegram from the London office intimating that for the annual meeting of the. company on December 4 the revenue account showed that after paying taxes totalling £39,084, making provision for bad and doubtful debts and charring debenture stock interest the balanee° is £76,550. Interim dividends paki on 5 per cent, cumulative pref er J ence stock and oh ordinary stock, together with a dividend of 6 l / 3 per cent., cumulative on the second preference stock for the year, plus the dividends new proposed to be paid, would absorb £122,500. After including the amount brought forward from -last year there would be £12,462 carried forward. The dividends proposed were a final dividend on 5 per cent, cumulative preference stock of 2‘/ s per cent., making. 5 per cent, for the year, and on ordinary stock a final dividend of 2 per cent, (making 4 per cent, for the year), both less 2s in the £1 in respect of English iucomo tax. . CATTLE -FAIR AT FEILDING. . PRICES GENERALLY FIRM. Feilding, Nov. 21. At a supplementary cattle fair there was a large “entry of nearly 2000 head, mostly young cattle in fairly good condition. Prices for grown cattlb were very wood, probably because buyers had not much choice. Young cattle found the market uncertain, vendors not being inclined to meet the economic situation, and many lines were passed. Prices crenerally were better than those ruling at recent fairs in other districts, the P.A. breed finding favour with most vendors. The range of prices was as follows: Yearling steers, very good, £4 .to £4 7s; good, £3 19s; medium, from £2 10s; two-year steers, good, £5 15s to £6; medium, £5 7s fid; threeyear steers, good, to £8 15s; good, fouryear bullbcks, £lO ss, £8 12s; niMium. £7 17s fid; two-year heifers, good, £6 SS; medium, £5 5s to £5 10s; inferior, £3 14s; yearling heifers, £3 12s fid; cows and "calves, good,. £0 10s to £0 12s.' A few lines of fat bullocks made £l3 5s to £l4 9s; store cows, inferior, to £3. Sheep.—-Fat b.f- hoggets, 18s; shorn wether hoggets, 13s fid to 15s 3d; shorn ewe hoggets, good, 19s; inferior, 13s; w.f. hoggets, 17s fid; fat -wethers, xfl's; fat ewes, 10s to 14s. Stores.—Specially good ewes and lambs, £2 7s 6d; others, 22s to 235; two and four-tooth wethers, woolly, 19s; ditto, shorn, 17s Cd.

SKINS, HIDES AND TALLOW.

SALE AT WELLINGTON.

The fortnightly sal© of sheepskins, hides and tallow was held on Friday by the- combined Wellington brokers, fairsized catalogues being submitted to. a good attendance of buyers. Sheepskins were slow of ©ale, and last sale s lev el of prices barely maintained, values in som© cases being id lower. There was good competition for hides, especially those in first-class condition, and prices firmed slightly on last sale’s level, for these grades. Medium and heavyweight ox sold at to I-8d better, but light ox, below 501 b. weight, advanced id to 3-Bd. Cow hides were also l-8d higher. Calf and yearling were from id to Ad higher. Tallow was dull with little demand. The range of prices was as follows: —■ Dry slieepskins. —Halfbred, 3sd to 6d; - fine crossbred, 4d to 6d; medium crossbred, 3id to 5Jd; coarse crossbred, 3Jd to sd; half-wools, Ifd to 4Jd; quarter wools, to 4id; pelts, Id to 3Jd. ' Salted skins.—Pelts, 9d to Is 4d; quarter wools, to Is 6d; half wools, to l.j 6d; three-quarter wools, to ,2s 7d; full wools, 3s to 3s 7d; lambs, to Is 6d. ’ .

Hides.—Ox, 331 b. to 441 b., 44d to 4 7-8 d; ox, 451 b. to 521 b., 4Jd to 4 7-8 d; ox, 531 b. to 591 b., 3 l-8d to 5 5-8 d; ox, 60'b. to 691 b., 3Ad to 5 7-8 d; ox, 701 b. and over, 4 5-8 d to 6d; cow, 331 b. to 391 b., 3d to 4 7-8 d; cow, 491 b. and over, 2d to 4 7-8 d; kip, 251 b. to 321 b., 2Jd to 4 7-8 d; kip, 171 b. to 241 b., Id to 7 5-8 d; yearling, 111 b. to 161 b., 2|d to 7 ,5-8 d calf. filb. to 101 b., 3d to 7d; calf, 61b. to 81b., 6d to 10]d; calf, lib. to 51b., ,4sd to lOld. Tallow. —In casks, 17s to 255; in tins, etc., Ils to 15s. Sundries. —Horse-hair, 12d. PRICES FOR BUTTER AND CHEESE QUOTATIONS SHOW DECLINE. Further reports on the butter and cheese markets in London reveal a continued depression! in prices. Coloured cheese is quoted it prices between 66s per cwt. and 695, and white at 70s to 735. New Zealand butter is quoted at prices between 102 s to 110 s, but a drop.' of about 4s per cwt. is recorded. The butter market is flat, with priced at 106 s to 110 s, states the Anglo-Con-tinental Company. Consumption, however, is increasing. The cheese market ’is quiet with prices for white at 72s and coloured at 68s to 695.

The butter market is weak and irregular and prices have fallen a further 3s per cwt. since last Saturday, states a cable received by Newton King, Ltd., from their principals, R. and° W. Davidson, Ltd. Prices are as follows, with those for the previous week in parentheses: Salted, 104 s to 108 s (107 s to 112 s); unsalted, 139 s to

148 s (148 s to 150 s) ; • wheys,, firsts, 94s (102 s seconds 92s (100 s The cheese market is very quiet, states the same advice. Coloured cheese has receded Is per cwt. since last week and white 2s per cwt. Prices are: Coloured, fi7s to 69s (68s to 70s); white, 7ls to 73s (73s to 745). The cheese market is slow-, states a cable received by Dalgety and Company from Samuel Page and Son. The following quotations are given: Australian cheese, white, 70s to 725; Australian cheese, coloured, 66s to 68s; New Zealand cheese, white, /Is to /4s; New Zealand cheese, coloured, 66s to 60s;'spot price for Canadian white, 72c. t' 7Ss; spot price for Canadian coloured, 72s to 78s. The butter market is depressed .especially for stored, continues the report. Quotations ar© as follow: Danish, 136 s to 140 s; New Zealand finest salted, 102 s to 108 s; Australian finest unsalted, 122 s to 1265; Australian finest salted, 100 s to 106 s; Australian G-A.Q., 94s to 98s. Advice received by Collett and Cd. from their British principals states that creamery butter (finest) is being quoted at 107 s to 108 s, first grade creamery butter at 105 s; white cheese at 71s'to 725, and coloured at CSs to 6(te. SHAREMARKET TRANSACTIONS. Auckland, November 21.— Sharemarket sale's: Commercial Bank of Australia, 17s 2d; Bank of New Zealand, 56s Bd, 56s fid; Mount Lyell, 20s; Inscribed Stock, 1933, 5] per cent., £9B 7s fid; NewZealand Breweries,* 445. Christchurch, November 21.—Sales on exchange: 5J per cent, bonds, 1933, £99 17s Cd; Australian Bank of Comiherce, 19s 7d (two parcels); Commercial Bank of Australia, ,17s 3d (four parcels), 17s 2d (two parcels); Bank of Sydney, £l7 10s: Bank of New South Wales, £32 7s 17s 2d; Bank of New Zealand, 56s Sd, Gd; Bank t>f New Zealand (cum.div),s6s 9d (three parcels); New Zealand Breweries, 44s 9d, 44s Cd, 43s 2d (two parcels); Tooth’s Brewery, 24s sd; British Tobacco, 33s (two parcels), 32s lid; Mount Lyell (cum. div.), 20s 2d, 20s Id (four parcel^); New Zealand Farmers’ Co-op, 5 %per cent, stock, 1940, £76; Okaiito, 5s fid; Standard Insurance, 565. Sales reported: Commercial Bank of Australia, 17s 2d, 17s 3d; Commercial Bank of Sydney, £l7 15s; Grey Valley Coal (cum. div.), 20s 6d; New‘Zealand Breweries, 43s 2d, 44s 4%d; British. Tobacco, 33s 3d, 335; -Mount Lyell (cum. div.), 20s 2d.

OIL QUEST AT MOTUROA.

TESTING OF UPPER HORIZONS.

Durina- the week ended on Saturday Mbturoa Oil Filds Ltd.’s No. 1 well was drilled to 3310 ft. in sandy shale and mudstone, th© company reports. No further developments occurred below 3000 ft. The drillers made a cement bridge at 2700 ft. and are allowing six days’ for th© cement to set before testing the upper producing horizons.