FINANCE AND COMMERCE

Taranaki Daily News, 30 April 1931, Page 12

FINANCE AND COMMERCE

SHAREMARKET TRANSACTIONS. Taranaki Stock Exchange.—Reported sale: Blenheim Oils, 355. (four parcels). PEDIGREE JERSEY SALE. GOOD PRICES REALISED. Hamilton, April 28. A successful sale of pedigree Jersey stock was conducted by Wright, Stephenson and Co., Ltd., on behalf of Mr. F. J. Saxby, of Alfalfa, Hamilton, today. There was a large attendance. Of the 66 heifers offered only one was passed in. The sum of 105 guineas was offered for this animal. The 65 head sold averaged 45 guineas. The top price was 122 guineas, paid by Mr. G. E. Velchich, of Waiupu, for Alfalfa Silver Maid, by Waipiko Mas-terpiece-Alfalfa Fox’s Serenade. A fullsister, Alfalfa Ramona, realised 110 guineas, which was paid by Mr. W. H. d’Abrantes, of Taneatua. The 25 bulls sold, the majority of which were on account of vendors other than Mr. F. J. Saxby, averaged 37 guineas. The best price realised was 70 o'uineas, paid by Air. D. Matheis, of .Taupiri, for Air. W. J. Saxby’s bull, Heslington Zola’s Lad.

LIVE STOCK MARKETS. WAHvATO PRICES GOOD. Hamilton, April 28. A decided rise in values for ox beef was recorded at the weekly stock sales at Frankton to-day. A keen demand existed for a smaller yarding than usual, and prices showed an improvement of from 15s. to 20s. a head. A large entry of fat cows and heifers of indifferent quality sold at late rates. Stores showed no variation. Fat sheep came forward in average numbers, and there was a full yarding of fat lambs. Prices generally remained firm at last week’s quotations. Fat pigs met with good competition and prime baconers realised slightly higher rates. Store pigs were also in better demand and values increased slightly. Sheep.—Prime fat wethers realised 14s. 6d. to 15s. 6d., lighter Ils. 6d. to ISs. fid., prime fat ewes 12s. 9d. to 13s. 3d., lighter 9s. fid. to 10s. Id., prime fat lambs 13s. to 14s. lid., lighter 10s. Id. to Ils. Sd., unfinished 6s. 9d. to Bs. 9d. Calves,: Runners, £2 9s. Cattle: Prime fat steers £9 6s. to £9 145., medium fat cows £4 Ils. to £5 25., light, £3 Ils. to £4 35., forward-conditioned £2 Bs. to £3 35., store cows 365. to £2 45., boners 21s. to 325. Pigs: Choppers £2 to £2 Ils., heavy baconers £2 10s. to £2 165., medium £2 7s. to £2 125., light £2 to £2 55., heavy porkers 355. to 385., light 295. to 335., stores 18s. to 225., slips 13s. to 16s. 6d., weaners • 6s. to 10s.

TAUMARUNUI QUOTATIONS. Taumarunui, April 28. There was a large attendance of farmers at the stock sale to-day. The yarding comprised 3000 sheep and a few head of cattle and weaner pigs. Pigs sold at late rates, best weaner making 10s. 6d. The sale for sheep opened well. Twotooth wethers brought 10s. 3d., fourtooth wethers Ils. 7d., good six-tooth wethers 12s. lid., five-year-old ewes to 6s. 7d., good-conditioned black-faced lambs Bs. Sd., good white-faced ewe lambs 9s. 6d. Although several outside buyers were operating, bidding was not spirited. DUNEDIN SAVINGS BANK. A SATISFACTORY YEAR. Dunedin, April 28. The Dunedin Savings Bank has completed its 67th year, and the balancesheet for the 12 months ended on March 31, presented to the meeting of trustees to-day, shows that, although there was a slight excess of withdrawals over deposits, the bank has had a very satisfactory year. The bank has 27,024 depositors, an increase of 1747 over the previous year. The amount at their credit is £1,966,386, and during the period under review, £87,079 of the total income of £114,809 was credited to them as interest. The net sum added to the profit and loss account, which now stands at £107,307, was £15,024. ONAKAKA IRON. POSITION AT THE WORI\S. On his return from Wellington, Mr. J. A. Heskett, works manager for the Onakaka Iron and Steel Co., intimated that he had made arrangements to recommence the company’s pipeworks, he himself having taken a contract to manufacture pipes and fulfil a. large Wellington order, and thus use up the accumulated stocks of pig iron and scrap held by the company. About 50 men would be employed, the suggestion being to let sub-contracts in the various departments. Preliminary work in cleaning up, etc., to enable these operations to be recommenced was put in hand, but action was taken by the Workers’ Union, the company’s employees not having yet received wages due to them amounting to over £3OOO. Several meetings of the union were held, the outcome being the taking of steps to prevent Mr. Heskett from carrying out his proposals. The union is arranging to take out liens over the company’s mineral rights and other assets to secure the wages due. Mr. Heskett has abandoned all idea of carrying out his proposals. It is understood that the Wellington firm requiring the pipes has already placed its order elsewhere.

The union is endeavouring to arrange

for its members to work the pipe plant on. a co-operative basis, but whether this will eventuate is still doubtful. In the meantime the unemployment problem is a serious one for a large number of exemployees. NEW PLYMOUTH OIL WELLS. New Plymouth (N.Z.) Oil Wells, Dtd.s, weekly report dated April 27, 1931, states: Depth, 2027 feet; cased to 2020 feet; we are preparing equipment to cement casing within the next few days.