FINANCE AND COMMERCE

Taranaki Daily News, 25 July 1931, Page 23 (Supplement)

FINANCE AND COMMERCE

TARANAKI STOCK MARKET PRICES STABLE IN TARANAKI. REVIEW ..OF CLEARING SALES. The severity,,of the weather during the past \vdek has taken further toll on the pastures and stock, on the latter so much that little bloom is now in eyidance, Newton King Ltd. reports. Except that a marked shortage and a further advance in prices are noticeable in the fat sheep section, conditions are similar to those existing a week ago. Beef shows no improvement; in fact reports of established markets show that prices have a tendency to decline. ; Stability, however, at low rates continues in Taranaki. Best cows and J.-heifers realise from £5 to £5 10s, lighter £4 to £4 10s, and an occasional sale of ox ,:-bccf at £1 per hundred is reported. As a result of the magnitude of busy-. ■■ ncss-contracted by • freezing companies in fat sheep section diiring the past month or two, supplies seem insufficient to meet the local Ewes are at a premium, and the occasional oddments sell under spirited competition. During the week realisations up to las have been recorded for medium-weight sheep. Holders of wethers are quoting at advanced rates, and few lines are available at under £l. . A store cattle section is lifeless and the improvement expected next month seems improbable. Newton King’s sales draw moderate entries of yearling Jersey and Jerseycross heifers, supplemented by small entries of works cows, and the reduced rates for the latter continue. Realisa-

tions range from 20s to 355. Prices for good-quality yearling Jersey heifers of size'hold. their ground, but few are offering and best sorts make from £3 to £3 10s. Cross-bred cattle of size and condition make £2 td £2 10s. Small and inferior-bred cattle meet with little demand and sell.at from 15s to 255. Twoyear empty heifers are. inquired for, but quotations are few, and realisations on odd lots submitted at auction are £2 to £3. ss. Sound empty cows and paddock cows arc yarded ill fair numbers but the demand is not strong. Prices range from £1 Jos to £2. . _ Inquiry for in-lamb ewes is increasing with a continued preference for those mated to Southdown rams. Difficulty is experienced in obtaining suitable quotations.'Generally 12s fid sepms the, purchasers’ idea of values so far as genuine 4 and 5-year sheep, are concerned, with a drop to 7s 6d to 10s for older ewes. Prices for store and forward wethers are in keeping with' the Bharp.rise recorded for fats, but few are offering, present quotations ranging from 12s 6d to 13s Cd. Hoggets continue to find good favour, but quotations are scattered. Ewes are quoted at up to 13s, and sales have been from this figure down to Ils. Values for wethers of the same class range from Ss to 10s 6d. Young dairy cows due early continue to sell well, and averages at the clearing sales have been in keeping with those recorded at earlier sales. Inquiry for incalf heifers is slack and only" very forward cattle of size and condition meet with a, favourable reception. Well-bred 3-year-olds close to profit sell under spirited competition at £8 to £9 10s. Best 2-year olds, duo reasonably early, make Up to £8 and medium £6 10s to £7 ss. Later calvers are not wanted and realise from £4 to £5 ss, irrespective of quality to some extent. The dispersal of Mr. James’ herd at Inglewood on Friday was fairly well attended. The herd consisted of Jersey and Jersey-cross cows, but no calving dates were available and as a result the prices obtained were not. high. A satisfactory average of- £7 per head for the herd of 33 was recorded. Best young cows due early made from £8 15s to £lO, medium sorts £6 10s to £7 10s and old and later calvers £4 to £5. Extremely cold weather prevailed on Monday, the day on which Mr. H. McCann’s dispersal sale was held. .There was a. good attendance and the SO cows averaged £8 10sper head, the feature of the sale being the consistency of the prices.' The herd consisted largely of second and third calvers, the best of which made up to £lO 10s and others £7 to £8 10. In-calf heifers were also submitted, good 3-year-olds at profit making from £B,los to £9 12s Cd, and 2-year-olds £8 5s to £8 15s. ' ’ *MT. ’A.. Goble’s Ronald Road (Stratford) herd bf 40 Jersey and Jersey-cross cows, calving August and September, IWUS sold on Thursday. Unfortunately many of . the cows were either unsound oil empty, and this made buyers cautious. The bidding was keen on good-quality cows calving in August, and good sorts made from £8 to £ll 10s, fair sorts £6 -10 s to £7 10s and others £3 to £5. ■ iThe following day a dispersal of the game client’s'Climie Road herds wa,s conducted and a satisfactory clearance effected. The two herds consisted of. Jersey and'Jersey-cross cows of good quality, supplemented with a few Friesians, the majority calving July and Aurust. The attendance was good and bidding spirited. The homestead herd a Veraged £8 5s and the other averaged £7 17s.'. Good young cows made from (£ll to £l4, medium sorts £8 to £lO and others £6 to £7. ■ The New Plymouth haymarket Sale yesterday drew an average entry of ail classes of pigs and competition was again spirited, especially for the weaner class. A total clearance was effected at prices a shade in advance of last week s rates. Best weaners made to 21s 6d, others 16s to 18s 6d, small 15s, slips 22s to 23s 6d, large stores in fair condition 23s and unfiinshed porkers 345. FARMERS’ CO-OP. ACTIVITIES. BUSINESS GENERALLY QUIET. The .Farmers’ Co-op. Organisation Society of .N.Z. Ltd. report that the past week has seen exceptionally severe weather which has made working conditions most unpleasant. A number of cows has come in and lambs are making their appearance on earlier country. Activity has been displayed in the «heep section, hoggets and ewes having changed hands readily, with particular attention to in-lamb ewes, buyers filling their requirements before it-is too late to shift them safely. The in-calf heifer market is moving ■lowly and business in the paddock is difficult to transact. Heifers close to the drop and of good quality meet a ready market, with prices ranging from £7 to £9. Weaner heifers are attracting more attention and the best heifers make from £2 15s to £3 ss. There is a. demand for mixed colour heifers and £2 is about the usual price offering. The fat sheep market is bare of supplies, very few fat ewes being available in Taranaki. Good ewes briiu; 14s to 15s fid. Vendors of fat wethers are holding, as better prospects seem ■nfobable and there are not very many good wethers offering. Sales have been made of two-tooth wethers, prime las fid to Ids fid, extra good four and sixtooth to 17s 9d. Jn fat cattle bullocks arc still difficult to Sell but it seems probable that thev will tmd more favour in the immediate future. Good cow beef can still be obtained at well under 20s a

hundred, and until these supplies are exhausted, it docs not seem that prices of fat cattle will rise materially. Best cows sell at £5 to £5 15s; medium, £3 15s to £4 10s. Of fat bullocks few sales are being made and prices are approximately 20s per 100. For station cattle there is still a limited enquiry, but very little quoting throughout the province. The prices offering must be disastrous to any farmer who has purchased during the current season and anybody who can. is holding his cattle. Sales made during the week in this section are.—Store three-ye'ar. bullocks, mixed colours, £2 15s to £3 7s; 18-months P.A. steers, £2; forward empty cows, £2 6s to £2 17s 6d. Amongst the store sheep last minute demand for the breeding ewe has seen a number of sales go through during the week. Prices are two-tooth ewes R.W. Romney rams fair, 14s 6d; r.w.6.d. rams, good, 16s 6d to 17s 3d; four and five-year old ewes, r.w.s.d., good, 12s 6d to 13s fid; medium 10s to Ils fid. A number of good ewe hoggets has chang-ed-hands during the week; prices ranging from Ils fid to 14s; wether hoggets, 8s to Ils Mr. H. McCann’s sale at Opunake was held in . wretched weather conditions but drew a large attendance, the average, for the 80 odd cows being £8 >los. and the top price*'lOgns. The heifers were a good lot and sold readily from £8 5s to £9 12s fid; weaner heifers brought £2 2s 6d, and pigs, sow and litter, £B, £6, £5. W. S. and O. Cassidy’s sale was held under the worst possible weather, snow and hail being experienced right throughout. Everything offered met with brisk bidding and there was a most satisfactory sale. Prices were.— Good quality cows, £8 10s to £11; medium and backward sorts from £a to £7; nice quality heifers, £8 los to £8 10s; fair sorts, £6 l'ss. At Drake Bros. ' sale stock were in fair condition and bidding was brisk. Dairy cows-brought £4 10s to £8; good line on account Mr. J. Smith, Tarata, averaged £6. Sheep, which were well into the Cheviot were in fair order, 110 two-tobth wethers bringing 13s Id; 300 F.M. and four and six-tooth wethers, 10s 9d; 150 two-tooth ewes, 14s 6d; 100 four and five-year ewes, 10s 6d; 75 four and five-year ewes, 9s 6d; 50 four-tooth and upward wethers, 4s 6d; 74 four and six-tooth ewOs, 13s 2d; 112 wctlffir lambs, So fid; 115 ewe lambs, Ils Id. At the Inglewood sale there was a aood yarding. Some of the prices real£4 3s; dairy heifers, £4 ss, £5 10s, £6 to £8; £8 to £lO 15s; a small line of heifers on account of Mr. C. H. Barnitt, Waitaia, £8 4s, the top price_ being £lO 15s; dairy cows, £4 to £5; £5 5s to £6 12s Cd; sheep, 80 tworiooth to fourycar ewes, Ils 4d; 128 ewes, os Id; 19 wethers (fat), 12s fid. At the Kaponga sale the yarding consisted mostly of dairy cows and heifers and though the demand was not very keen a total clearance was effected. Good quality yearling heifers realised £3 6s; medium sorts, £2 7s; fat cows, £4 9s; sound hold-over cows, 50s; good quality dairy cows, £10; others, £5 10s to £7; fair sorts, dairy heifers, £6 12s Gd to £7. The Stratford sale attracted a fair yarding in the dairy pens. Competition was not very ]<eeii. The extremely rough weather lately will 'cause farmers to delay as long as possible before'filling their requirements. Prices were. —m.a. ewes, i.l.s.d. rams, 12s 2d, dairy cows, £7 to £8; dairy heifers to £7.

Okaiawa sale drew a small yarding, the weather conditions being impose* ible. A clearance was effected at the following prices:—Dairy cows, £8 7s 6d to £S 10s; sound empty cows, 35s to £2 ss; forward cows, £2 5s to £3; store cows from 25s to 30s. LONDON METALS MARKET. By Telegraph—Press Assn.—Copyright. Rec. 7.15 p.ni. London, July 23. The following are to-day’s quotations, with those for July 21 in parentheses:. Copper. —Spot, £33 9s 4Ad (£34 16s I01d); three months, £34 10s (£3's 10a 7sd). ' . Electrolytic Copper.—Spot, £36 10s (£37); three months, £37 10s (£3B). Wire bars.—£37 103 (£3B). Lead.—Spot, £l2 Ils 3d (£l2 15s 7£d; three months, £l'2 Ils 3d (£l3 Is 3d). Spelter. —Spot, £ll 15s (£l2 12s 6d); three months, £l2 5s (£l3 3<s 9d). Tin.—Spot, £lOB 8s 9d (£ll2 13s 9d); three months, £llO 8s 9d (£ll4 13s 9d). Silver. —Standard, 12 5-16 d (13 1-Sd) per ounce; fine, 13 15-16 d (14 1-Sd). BRADFORD PRICES BETTER. London, July 23. The Bradford wool market shows slightly better inquiry, but the. market is still quiet. Seventies, 24d; 64’s 22jd; 00’s 2tH-d; 56’s 14£d; 50’s 12,jd; 4G’s lOd; 40’s lOd. : ; i sharemarket: transactions Auckland, July 24.—Stock Exchange sales: Hamilton Borough, 1947, 4J per cent., £B5; New Zealand Insurance, 41s 3d; British Tobacco, 24s 6d; Colonial Sugar, £64 ss; King Solomon, 2s lid; Waihi Grand Junction, 4s 3d (4 parcels); ■ . Christchurch, July 24.—Sales on ex- 1 change: Commercial Bank of Australia (cum div.), I4s 2d (2 parcels); Now Zealand Breweries, 32s lOd; Mt. Lyell, 17s 7d; Cornish Point, 9d (2 parcels); Okarito, 10s 3d (2 parcels). Sales reported: Mt. Lyell, 17s lOd; Bank of New Zealand, 48s 9d. BLENHEIM OIL WELL. Swabbing has been continued since the last report, states the Blenheim Oil Well Reclamation Company. Production has been well maintained, and gas pressure is steady at 3001 b to the square inch. The derrick has been boarded over to conserve waste from the. blow-out occasioned by swabbing. COMPANY REGISTRATION. Registration of the following company is announced: My Fruiterer Ltd., private company. Capital, £lOO into 100 shares of £1 each. Subscribers: New Plymouth C. J. H. Walker 75, S. G. Walker 25. Objects: .To carry on the business of fruiterers, green-grocers, dairymen, etc. EGG AND POULTRY SALES. Messrs. Webster Bros, report egg sales in New Plymouth this week at the following prices:—Hen, Is 2d to Is 3Jd; mixed, Is 2d to Is 3d; duck, Is 2d to Is 21d. Messrs. L. A. Nolan and Company report poultry sales at the following prices:—Hens, Is Sd to 3s 8d: pullets, 2s 4d to 5s 9d; cockerels, 2s 3d to 5s 9d; roosters, 2s 4d to 3s; ducks, 2s 5d to 3s 2d; bantams, Is 7d.