FINANCE AND COMMERCE

Taranaki Daily News, 13 February 1933, Page 12

FINANCE AND COMMERCE

FROZEN MEAT QUOTATIONS PRICES ON THE LONDON MARKET. GENERAL DECLINE REVEALED: By Telegraph—Press Assn. —Copyright. Rec. 7 jxm. London, Feb. 11. Following are the latest quotations for frozen meat, with previously cabled prices in parentheses:— New Zealand sheep: Canterbury and North Island crossbred wethers and maiden ewes, 48 to 561 b, 4Jd (4 5-8 d); 57 to 641 b, 4Jd (4 7-8 d); 65 to 721 b, 4 5-8 d (4,id). Australian sheep: First quality crossbred or Merino wethers, 40 to 651 b 3}d (33d); second quality, 30 to 551 b, 3 3-8 d (3 5-8 d); ewes, 30 to 551 b, 3 l-8d (3|d). Argentine sheep: First quality crossbred wethers, 48 to 641 b, 4,{d (41d); 65 to 721 b, 4 l-8d (4 l-8d). Patagonian sheep: None offering. New Zealand lambs: Canterbury, 361 b and under, 37 to 421 b, 43 to 501 b, none offering; second quality, average about 301 b, 4 5-8 d (4 3-8 d). Other South Island, 361 b and under, 37 to 421 b, 43 to 501 b, none offering. Selected North Island, including Downs, 361 b and under, 6 3-8 d (6 7-8 d); 37 to 421 b, sfd (6 3-8 d); 43 to 501 b, 5 3-8 d (none offering); second quality, average about 301 b, 5 5-8 d (63d); other North Island brands: First quality, 361 b and under, 6d (63d); 37 to 421 b, 5Jd (6d); second quality, average about 301 b, 5 3-8 d (51d). Australian lambs: Victorian, first quality, 361 b and under, 5Jd (5 3-8 d); 37 to 421 b, (4Jd). Other States: First quality, 361 b and under, 4Jd (5 l-8d); 37 to 421 b, 43d (4 3-8 d). Victorian, second quality, 361 b and under, 4 5-8 d (4Jd). Other States: Second quality, 361 b and under, 4Jd (4 5-8 d). All States, third quality, average about 261 b, 4 7-8 d (sd). Argentine lambs: First quality, 361 b and under, sjd (5 3-8 d); 37 to 421 b, 4 7-8 d (sd); second quality, average about 281 b, none offering (5 l-8d). Patagonian lambs: None offering. New Zealand frozen beef: Ox fores, 160 to 2201 b, 3d (3 l-8d); ox hinds, 160 to 2201 b, 3fd (32d). • Australian frozen .beef: Ox crops, 1001 b and under, 3 5-8 d (33d); over 1001 b, 33d (3 3-8 d); ox hinds, 1601 b and under, 3 5-8 d (3Jd); over 1601 b, 3Jd (3 7-8 d). Argentine chilled, beef: Ox fores, 160 to 2201 b, 33d (4Jd); ox hinds, 160 to 2201 b, 5d (5 5-8 d). New Zealand pigs: First quality, 60 to 801 b, 5Jd (6 l-8d); 81 to 1001 b, 5 .3-8 d (5 5-8 d); 101 to 1201 b, 5d (53d). Australian pigs: First quality, 60 to 100 lb, average about 801 b, 53d (5 7-8 d); 101 to 1201 b, 5d (53d). Other quotations are unchanged. The above list shows the week’s approximate average prices based on actual transactions of wholesale quantities of the description of meat mentioned. The prices are for representative parcels of goods offering during the week. The list, being for business done on a basis of delivered to Smithfield market and/or ex London stores, has been compiled by the price committee. BALANCE ON CREDIT SIDE N.Z. REFRIGERATING COMPANY. REPORT ON YEAR’S OPERATIONS. By Telegraph—Press Association. Christchurch, Last Night. The New Zealand Refrigerating Company’s annual report, signed by H. A. Knight, chairman of directors, states: “The fall in values in the world’s markets during the past year has been more disastrous than in any of the previous four years, and it is gratifying under such • conditions to be able to produce a balance on the credit side of the profit and loss account, even though it is not sufficient to justify the payment of a dividend. “Consignments afloat and stocks m the works have been valued on a conservative basis, and provisions for contingencies have been fully maintained. After making provision for writing down certain' assets, states the report, there is a balance available for appropriation of £15,038 16s Id, which the directors recommend should be carried forward. “Sir Francis Boys, managing director, has resigned his duties after 25 years’ service and the board places on record its appreciation of the services rendered by him to the company, particularly during the part twelve years.” The annual meeting will be held on February 28. DAIRY MARKETS QUIET. PRICES SHOW NO CHANGE. Cabled advice received in New Zealand from London in the week-end indicates that the markets for butter and cheese are quiet, with no changes in the prices. Details are:— A. S,. Paterson and Co., Ltd. (Messrs. J. and J. Lonsdale and Co. (London), Ltd.): Butter: Market slow; New Zealand, 795. to 80s.; Australian, 765. to 775.; Danish, market weaker, 84s. to 85s. f.o.b. —equals 105 s. to 106 s. landed. Cheese: Market quiet; white 475., coloured 575. Samuel Page and Son (Feb. 9): Butter: Market quiet. Danish, 110 s. to 112 s. (112 s. to 114 s.); New Zealand finest salted, 795. to 80s. (775. to 795.); Australian finest unsalted, 765. to 795. (745. to 785.); Australian finest salted, 755. to 775. (745. to 765.); Australian G.A.Q., 725. to 745. (70s. to 725.). Cheese: Market weaker. New Zealand white, 465. to 48s. (455. to 465.); New Zealand coloured, 575. to 58s. (575. to 585.); spot price for Canadian white, 60s. to 68s. (60s. to 685.); coloured, 60s. to 68s. (60s. to 685.). Collett and Co., Ltd.: Creamery butter, finest, 795. to 80s.); first, 78s. to 795.); whey butter, 745. to 755.); white cheese, 465. to 475.; coloured cheese, 565. to 575. SHAREMARKET TRANSACTIONS. The following sales of stocks and shares were reported by the Press Association on Saturday:— Auckland: Bonds, 1937, 53 per cent., September, £101; Commercial Bank, 14s 7d; King Solomon, 2s Id; Nokomai, 5s 9d, 5s lOd, 5s 103 d. Dimedin: Sales reported: Westport Coal, 10s. 9d.; 1937, 53 per cent. September bonds, £lOl 2s. 6d. Late sales Friday: King Solomon, 2s. 2d.; New Zealand Drug, 565. 3d. Reported sale, after call: Gillespie’s Beach, Is. 2Jd. SYDNEY STOCK EXCHANGE. By Telegraph—Press Assn—Copyright. Rec. 5.5 p.m. Sydney, Feb. 11. This morning’s sales.on the Stock Exchange were: Commonwealth Bonds, 4 per cent., 1941, £lO2 15s; 1944, £lO3 ss; 1947, £lO3 8s 9d; 1950, £lO4 Is 3d; 1953, £lO3 12s 6d; 1955, £lO2 17s 6d; 1957, £lO3 15s; 1959, £lO3 15s; 1961, £104; Commonwealth 4 per cent. £lO bonds, 1938, £lO 4s; 1950, £lO 5s 6d; 1953, £lO 4s; New Zealand debentures, 53 per cent., 1937, £103; Bank of New South Wales, £3O 7s 6d; Commercial Bank of Sydney, £l6 2s 6d; Australian Gas (A), £7 4s; British Tobacco, 34s 3d; Lustre Hosiery (New Zealand delivery), 12s: Dunlop Perdriau, 17s 9d; Toohey’s, 20s 9d; Tooth’s 35s 7Jd.

HAWERA RAM FAHR SOUTHDOWNS MEET READY SALE. 183GNS. TOP STUD; SGNS. FLOCK. Satisfactory prices were realised for some exceptionally good Southdown rams which met a ready sale at the Hawera ram fair on Saturday. Romneys met with an unsteady sale. The top price for Southdowns was obtained by Mr. C. J. Hawken for a shearing stud at 183 guineas, and the best prices for Southdown flock rams were: C.' J. Hawken sgns., J. R. Taylor 43gns., Bremer Bros. 43gns., S. C. Tonks 4gns. In the Romneys the better class made from 3 to 4gns. The entry was right up to catalogue numbers, and all but three pens were sold under the hammer. The Farmers’ Co-op. auctioned. Sales were:— SOUTHDOWNS. On account of Bremer Bros., Waverley: Five shearling rams at 43gns. to A. L. Bremer. On account of J. W. Alexander, Hawera: Six shearling rams at 2gns., to H. Rolfe. On account of C. J. Hawken, Mokoia: Three shearling rams at sgns., to E. A. Best; two at 4gns. to Sarten and Son; one at 33gns. to E. A. Best; two at 33 gns. to Sarten and Son; three at Signs, to N. M. Smyth; two at sgns. to Sarten and Son; one at 4’jgns. to J. J. Pease; two at 3}gns. to the Roberts estate; three at 34gns. to E. T. McPherson; three at 3|gns. to G. Hawken. On account of I. Lupton, Waverley: Five shearling rams at 3Jgns. to Ed. Wells; one at 3gns. to L. Honeyfield; two at 2jgns. to H. Rolfe. On account of J. R. Tayley, Manutahi: Five shearling rams at 43gns. to Sheat Bros.; eight at 2fgns. to B. C. Lysaght; one at 3gns. to L. Honeyfield. On account of J. Lander, Hawera; One shearling ram at 33gns. to Ed. Wells; four at 3gns. to G. Milne; five at 2fgns. to K. Duckworth; one at 2gns. to G. Milne; two at 2sgns. to Geo. Milne; one at 23gns. to B. C. Lysaght; one at 2gns. to W. B. Robertson.

On account of S. C. Tonks, Manutahi: Five shearling rams at 4gns. to K. C. Duckworth; four at 3gns. to E. T. McPherson; one at 23gns. to B. C. Lysaght; four at 21gns. to E. T. McPherson; one at 2gns. to A. Looney. On account of W. Andrews, Rangikura: Five at 3gns. to —. Robertson; one at 23gns. to A. Looney; four at 23gns. to Williams Bros. On account of W. O. Williams, Hawera: Five shearling rams at 3jgns. to J. Corcoran; one, at 2Jgns. to B. C. Lysaght; two at 23gns. to Mrs. E. Murphy. On account of Thos. Lupton, Waverley; Three shearling rams at 2Jgns. to Barrow Bros.; five at 33gns. to J. H. Barker; one at 2|gns. to A. Looney; two at 2|gns. to B. C. Lysaght; two at 2gns. to A. Looney; two at 2fgns. to B. C. Lysaght; four at 2Jgns. to A. Looney. On account of H. B. Gibson, Eltham: One shearling ram at 3|gns. to A. M. Dickson; two at 33gns. to H. D. McCarty; two at 23gns. to J. H. Baker.

On account of J. T. Barkla, Hawera: Five shearling rams at 2|gns. to J. H. Baker; one at 3gns. to E. T. McPherson. On account of H. P. Wells, Eltham: Five shearling rams at 2gns. to J. H. Baker.

On account of M. C. Wyboume, Waverley: Three shearling rams at 3|gns. to W. Edwards; two at 3gns. to J. H. Baker; one at 2Jgns. to Ed. Wells; four at 2gns. to B. .C. Lysaght. STUD SOUTHDOWNS. On account of H. B. Gibson, Eltham: One shearling ram at 9gns. to H. P. Wills, Eltham. On account of C. J. Hawken, Mokoia: One shearling ram at 18}gns. to J. H. Allen, Tikorangi; one at Bgns. to A. Sheard, Urenui. On account of J. R. Taylor, Manutahi: One' shearling ram at ?gns. to J. C. Allen, .Stratford. On Account of W. N. Hughes, Waverley: One 6-tooth ram at sgns. to J. T. Barkla, Hawera; one shearling rani at sgns. to A. L. Bremer, Pukengahu.' / ROMNEYS. On account Blair and Hunter, Maxwell: Three shearling rams at ligns. to A. J. Davies; one at 31gns. to A. G. Robertson; one at 3jgns. and three at 3gns. to Williams Bros.; one at. 3gns. to Newton King’s, as agents; two at 2Jgns. to A. G. Robertson; three at Ifgns. to A. Bowen. On account of Bremer Bros., Waverley: One shearling ram at 2gns. and one at 1 l-3gns. to J. Raven; one at IJgns. to A. G. Robertson; one at Ign. and two at 2Jgns. to A. J. Davies; five at 2| gns. to J. H. Baker; one at and two at Ign. to Williams Bros. WELLINGTON WOOL SALE. LOAN AND MERCANTILE QUOTA. At the third wool sale held at Wellington on Friday the New Zealand Loan and Mercantile quota was approximately 4000 bales. There was a full bench bf buyers representing Germany, France, Belgium, Japan and Dominion mills, and local speculators, who from the outset competed keenly for suitable lots up to their limits. Prices compared with recent sales slightly higher for super wools. Halfbred and fine crossbred values were firm, .but prices for lower qualities were not so keen and equid be quoted a farthing easier. Bellies and pieces drew a keen demand but there was very little change in price. Lambs’ wool, of which there was only a limited supply, was keenly competed for and prices were decidedly firmer. Wool opened up disappointingly, there being an absence of super wools. Bulk ordinary top-making sorts and lower quality crossbreds were inclined to be hairy and competition was dragging. LONDON WOOL SALES. The Farmers’ Co-operative Organisation Society of New Zealand, Ltd., reports having received the following cable from its London principals: The wool sales closed to-day and prices compared with closing rates of last series were:— Merino: Greasy, good to super, 3d., id.; greasy, low to medium, id., jd.;- scoured, good to super, 3d.; scoured, low to medium, 3d., Id.; crossbred, greasy fine, id., 3d.; advance greasy medium, par to id.; greasy, coarse, id. decline; scoured, fine, 3d-> lb.; scoured, medium, par to 3d. advance.; coarse, unchanged; slipes, fine, 3d. advance; medium and coarse, unchanged. Closing values were: Merino, greasy, good to super, 10d., Is. OJd.; greasy, low to medium, 7d., 9d.; scoured, good to super, Is. 5d., Is. Bd.f scoured, low to medium, Is. 23d., Is. 43d.; crossbreds, greasy, fine, 10d., 10s.; greasy, medium, 5d., 83d.; greasy, coarse, 4id., 5Jd.; scoured, fine, Is. 2d., Is. 6Ad.; scoured, medium, 73d., lid.; Scoured, coarse, s|d., BAd. Slipes: Fine, 103 d., Is. lid.; medium and coarse, 6d., 9Jd. The sale closed firm with good competition. Of the total sold 64,000 bales went to the home trade and 56,000 bales to the Continent.