FINANCE AND COMMERCE

Taranaki Daily News, 22 December 1930, Page 16

FINANCE AND COMMERCE

SHAREMARKET sales. Auckland, Dec. 20.—Sales on the Auckland Exchange: War Bonds, 1938, 4J per cent., £97 15s; Commercial Bank of Australia, 16s; Bank of New South Wales, £2B 10s; Bank of New Zealand, 50s; Goldsbrough Mort, 18s 6d; Robinson Ice Cream, 21s 6d; Taranaki Oil, 3s 2d. ■ ; '■ 1 feilding Stock sale, *' FAT SHEEP FIRM. Feilding, Dec. 19. Medium yardings of stock were offered at the Feilding stock sale to-day, when prices were a little easier all round, with the possible exception of fat sheep. These sold at last week’s rates, prices being just a little higher than freezing works prices, butchers being prepared evidently to go a bit better on account of the quality of the stock offered. Store sheep were very hard to sell, though there were some good pens of breeding ewes offered, and vendors had to be satisfied with lower rates. The dairy section of the sale was neglected, and fat cattle did not fetch any fancy prices. Some good lines of Polled Angus cattle offered were not eagerly sought, and. vendors found buyers not prepared to come up to reserves.

Fat-Sheep.—Two-tooths, 16s JOd; very good, 16s 7d to 16s 9d; good, 16s 2d;, fair, 15s 7d to 15s 9d; light, 13s to 14s lid. Fat lambs, small pen of excellent quality, 21s; others, 16s. Fat ewes, primes 10s to 10s 4d; good, 9s Id to 9s 8d; medium, 8s 9d. Fat wethers, 14s. Store Sheep.—Two-tooth ewes, good condition, 16s lid; fairly good, 15s 6d and 14s 9d; two-tooth wethers, good quality,' 12s 8d; fairly good, 10s Id; others, 9s 5d to 9s Bd. Four-tooth wethers, good quality, 12s Id to 12s 4d. Fat Cattle. —Light Jersey cows, good quality, £5 8s 6d to £6 3s 6d; .medium, £4 to £5 ss; Holstein, cows, £6; Hereford cows, good weights, £6 10s to £7 14s 6d; mixed colours eows; £5,-Ils; PA, .cows, good, £8 is; roan heifers, good weight, £6 12s 6d to £7 ss; average -P.A. heifers, £8 15s;; Shorthorn bullocks, £lO 19s 6d. ; . The average price for fat cattle was 22s 6d to 25s per 1001 b; vealers,.£2 7s 6d to £3 10s (very good prices); Store/Cattle. — Aged cows to £2 6s; yearling Jersey heifers, good quality; to £4; steers,' 22s 6d; Polled Angus bulls, £l3 T3s; ; Jersey bulls, , £5 ,12s 6d to £7,-7s ’6d. . ■ . ■ '■ ■ r ' • SHEEPSKINS AND HIDES. ' WELLINGTON SALE PRICES. The fortnightly sale of sheepskins, hides and tallow was held on Friday by the combined Wellington brokers. The market for sheepskins was irregular, all grades being jd tb.fd per/Ib beloiy last sale’s levels., Well-prepared parcels and sound pelts w?re in Remand, and showed the least drop. Salted skins declined on the same basis. Medium and lightweiglit. hides sold on a par with last sale’s prices, but heavies declined Jd to 3-8 d per lb. Kip and yearling were in good demand, and sold at prices well up to ruling quotations. Calf receded id. Tallow was 10s to £1 per. ton. lower. T’ V-range of prices is as follows: — 1 Dry Sheepskins.—'Halfbred, sd; fine crossbred, 3d to sd; medium crossbred, 2<Jd to 4Jd;. coarse crossbred, 2Jd to 4fd; half wools, Ijd to 4d; quarter wools, IJd to 3d; pelts Id to 3Jd. Salted Skins.—Pelts, 8d to Is 3d; quarter wools, Is"; full wools, 2s 6d to 3s; lambs,’Bd'to Is. / Hides—Ox, 331 b to 441 b, 3d to 4 ox, 451 b to 521 b, 4d to 4 5-8 d; ox, 531 b to 591 b, 4 l-8d to 5 l-8d; ox, 60lb to 691 b, 4|d to s|d; ox, 701 b and over, 3d to 53d; cow, 331 b to 391 b, 3d to 4 7-8 d; cow,- 401 b to 481 b, Id to 4 7-8 d; cow, 491 b and over, 2d to 4|d; kip, 251 b to 321 b, 3d to 4 7-8 d; kip, 171 b to 241 b, 4d to 6 7-8 d; yearling, I'llb tp 161 b, 4d to 7 l-8d; calf, -91 b to lOlb, 5 l-8d to 7Jd; calf, 61b to 81b, 6]d to 92d; calf, lib to 51b. 2d to 9 7-Bd. Tallow.—ln casks, 20s; in tins, etc., 10s to 19s. . . Sundries.—Cow tails, 6d to 10£d; horsehair, 9jd.

LOAN AND MERCANTILE.

LARGE INCREASE IN LOANS.

A further large increase in the amount of secured, loans and other advances is shown by. the balance-sheet of the New Zealand. -Loan and Mercantile Agency Company, as at June 30. A year ago, there was an increase of £106,997; the total has now risen by £237,499 to £3,011,042. I There have consequently been considerable reductions in other assets. Cash items at are lower by £135,394, the total of investments and interests and shares -in subsidiary and other companies, £663,981, shows a reduction of £25,744, advances on wool and other produce have fallen by £83,571 to £308,640, and current accounts are £107,864 less at £1,153,207. Among the liabilities, temporary advances bv bankers and others have increased by £121,897 to £509,927. The charge against profits for- taxation was £39,085, or £18,782 less than in the previous year. . ONAKAKA IRON AND STEEL. LOSS ON YEAR’S OPERATIONS. A net loss of £17,922 on the year’s operations is shown in the annual report and balance-sheet of the Onakaka Iron and Steel Co., Ltd., for the year ended October 31,' 1930. The directors state that considerable difficulty has been experienced in establishing the pipe-making branch of the activities on a satisfactory basis. Most of the difficulties have now been overcome, however, and sufficient contracts are held to keep the factory busy for the greater part of the year. Last year the company made a profit of £5507, the first in its history. Paid-up capital of the company is shown at £104,058, and 8 per cent, debentures amounting to £109,639 have been issued. New Zealand Government Loan account, with accrued interest, ia shown at £14,350, the sum of £20,836 ij owinsr to the State Coal Depot, and sundry creditors are shown at £6508. With preliminary expenses at £14,745, and establishment account at £20,168,

ti . .: . . ••' - there Bj a debit balance at profit and loss of £44,301. .■ . v . Shareholders are ,to be asked, to dis-, cuss the. advisability of reducing the capital of the company. * FROZEN MEAT IN LONDON. QUOTATIONS FOR THE WEEK. Rec. 5.5 p.m. London, Dec. 20. Frozen meat prices for the week are: New Zealand sheep.—Canterbury selected. crossbred wethers and maiden ewes, 571 b to 641 b and 651 b to 721 b and North Island, 481 b to 561 b, 4 l-8d per lb; North Island, 571 b to 641 b and 651 b to 721 b, 4id. Australian sheep.—First quality crossbred and/or Merino wethers, 401 b to 651 b, 4Jd; second quality, 401 b to 551 b, 4 l-Bdl , 7 - ' Argentine sheep.—First quality crossbred wethers, 481 b to 641 b, 4|d; 651 b to 721b 4 4 3-8 d; over 721 b, 4d. Australian lambs.—Victorian, first quality, 361 b and under, SJd; other States, first quality, 361 b and under, 7 7-8 d; Victorian second quality, 361 b and under, 7£d; all States, third quality, fld. ' 7, - . Argentine lambs. —First quality, 361 b and. under, 7£d; 371 b to 421 b, 7|d. Argentine chilled beef. —Ox fores, 160 lb to 2201 b, .4 l-8d; ox hinds, 1601 b to 2201 b, 6Jd; others unchanged. »