FINANCE AND COMMERCE

Taranaki Daily News, 9 February 1934, Page 12

FINANCE AND COMMERCE

SALE OF SHEEP AND CATTLE HIGHEST PRICES OF THE SEASON. STORE EWE SALES AT ADDINGTON. Christchurch, Feb. 7. At the market at Addington to-day, the highest price of the season to date was secured for store ewes, 33s 9d for twotooth halfbreds.. Interest in the store sheep sale was extremely keen, although prices were slightly below the basis of last week. All the other major sections showed an advance on late rates, or firmer tendency.

Store sheep: A large entry of young ewes met a keen demand. Store lambs sold very keenly. Wethers were slightly easier, partly due to the general lack of condition. Extra good two-tooth halfbred ewes, 33s 6d to 33s 9d; good, 26s to 29s 9d; ordinary, 23s 6d to 25s 3d; small, 19s 6d to 23s 9d; good four-year, 21s 3d to 255; sound and failing mouth, 16s 9d to 19s 6d; inferior halfbred, 10s 7d to 13s. 7d; extra good 2-th Corriedale, to 335; good, to 275; good 2-th crossbred, to 29s 6d; ordinary, 4,6, and 8-th crossbred, to 18s 9d; inferior, 8s 6d to 11s 7d; ordinary 2-th Romney, 23s to 25s 6d; good 4 and 6-th Romney, to 29s 3d; average 4,6, and 8-th Romney, 20s to 22s 3d; good 2-th three-quarterbred, to 275; ordinary, 20s to 22s 6d; ordinary 4,6, and 8-th threequarterbred, 17s 4d to 19s lOd; inferior three-quarterbred ewes, 9s 6d to 12s 9d; good 2-th halfbred wethers, 18s 3d to 19s 6d; ordinary, 14s 3d to 16s 3d; good 4, and 6-th half bred, to 19s; 6 and 8-th halfbred,' 13s 4d to 18s 3d; forward halfbred ewe lambs, 18s 2d to 20s 6d; medium, 16s 9d to 18s Id; backward, 14s to 15s 6d; medium crossbred ewe, 14s 3d to 16s 9d; forward Down cross, to 18s Id; average to good mixed sexed, 16s 9d to 19s. Fat cattle: An entry of 290 head, the smallest for some weeks. The market responded with a sharp advance of £1 to £1 5s per head for prime sorts. '-Cattle were forward from the West Coast, Southland, and Otago. Best beef made from 24s to 27s 6d per 1001 b.; good, 21s to 235; heavyweight, 17s 6d to 20s; medium quality, 16s to 19s; and rough, down to 12s. Values. Extra prime, £9 to £lO 15s; prime mediumweight, £8 to £9 15s; ordinary, £5 10s to £7 10s; light, to £5; extra prime heifers, £5 to £7; medium, £3 10s to £4 15s; light, to £3; extra prime cows, £4 10s to £6; medium, £3 to £4; light, to £2 15s. Fat lambs: The entry of 2700 was much smaller than the recent average offerings. A brisk auction resulted with an advance of 6d to Is a head. Values were: Extra prime, to 26s 4d; prime, 22s- 6d to 24s 6d; medium, 19s 6d to 225; light, 16s to 19s. Fat sheep: The entry of 3000 was only steady at late rates basis. Values were: Extra prime heavy wethers, to 29s 7d; prime heavy, 24s to 265; prime mediumweight, 22s to 23s 9d; ordinary, 19s 6d to 21s 6d; light, 16s to 19s; show ewes, to 32s lOd; extra prime heavy ewes, to 26s 7d; prime, 21s to 23s 6d; mediumweight, 17s to 20s; ordinary, 14s 6d to 16s 6d; light, 11s to 14s. Fat pigs met a good demand for baconers and lightweight porkers. An oversupply of heavyweight porkers caused the market to recede. A few lightweight porkers of 601 b. to 801 b. were bought for export. Anything over-weight was practically unsaleable. Values: Choppers, 30s to £4 8s 6d; baconers, 47s 6d to 54s 6d; heavy, £3 to £3 12s 6d; extra heavy, to £3 19s 6d. Porkers, 26s 6d to 32s 6d; heavy, 33s 6d to 38s 6d; average price per lb., 4Jd. to sld. . LAMBS IN KEEN DEMAND. PRICES STEADY AT JOHNSONVILLE. Wellington, Feb. 7. Lambs were in keen demand at last week’s rates at the Johnsonville stock sale, held to-day by Wright,. Stephenson and Co., Ltd., and Abraham and Williams, Ltd. A full, yarding of cattle • and average yarding of sheep came forward. Cattle comprised mostly extra good quality bullocks, cows, and heifers, with a few pens of vealers. Competition, for all classes of cattle was good at late rates. In the sheep section wethers were of average quality, but met with a poor demand. Ewes which were of good quality met with a limited demand at late rates. 1

Cattle: Prune extra heavy bullocks, £8 3s, £8; prime heavy bullocks, £7 15s, £7 12s, £7 10s, £7 ss; heavy bullocks, £6 10s, £6 6s, £6 Is, £5 18s; light and unfinished bullocks, £4 11s; extra prime hoivy cows and heifers, £5 2s, £5, £4 14s; pnme heavy cows and heifers, £4 ss, £4; cows and heifers, £3 18s, £2 16s, £2 15s, £2 10s; runners, £3 Is, £2 13s, £2 10s, ’£l 15s, £1 12s, £1 10s; vealers, £1 Bs, £1 6s, £1 3s, 18s 6d, 15s. Sheep: Prime extra heavy wethers, 24s lOd, 24s 9d, 245; prime heavy wethers, 23s 6d, 22s 6d; prime extra heavy ewes, 17s 8d; prime heavy ewes, 16s; medium ewes, 14s 9d, 14s 6d; heavy spring lambs, 21s 7d, 21s 6d, 20s, 19s 7d, 19s; medium spring lambs, 18s 9d, 18s 6d, 18s 3d, 17s 6d, 16s. SHEEP MEET SPIRITED SALE. TRANSACTIONS AT MASTERTON. Masterton, Feb. 7. An entry of 3894 sheep, 61 head of cattle, and 70 pigs was offered at the

Masterton sale to-day by the N.Z. Farmers’ Distributing Co., Ltd. All classes of sheep met a spirited sale, and prices advanced on recent’ sales from Is to Is 6d. Although cattle met a dull market they were all disposed of. Prices were: _Fat sheep: Heavy wethers, 23s 6d to 24s 6d; light do., 22s to 22s 6d; fat Downs, 235; heavy ewes, IGs 9d to 17s Id lighter do., 15s 6d to 16s 4d; Southdown ewes, 18s Id; fat lambs, 20s to 225; store’ sheep, 4-tooth wethers, 21s; 2 and 4-tooth do., 19s 7d to 20s; 2-tooth do., 18s to 20s; ewes, s.m. ewes, 14s 6d to 16s 7d; store ewes, 10s to Ils 6d; woolly lambs, account A. McGregor, 18s; do., account Mrs. A. Bourke, 18s 4d; ewe lambs, do., 19s 3d; other woolly wether lambs, 15s 3d to 16s 4d; shorn wether lambs, account L. T. Daniell, 14s 9d; do., account H. Bennett, 14s 3d; good b.f. -lambs, 17s 9d to 17s lOd; medium shorn lambs, Ils 5d to 13s Id; very small lambs, 6s lOd to 8s 6d. Cattle: Fat Shorthorn heifers, £4 Ils to £4 19s fat cows, £3 to £1 ss; 2J-year steers, £3 12s 6d; do., heifers, £1 18s to £2 7s; forward cows, '£2 2s to £2 6s; store cows, 20s to 265; cows and calves, £2 7s 6d to £2 12s 6d; weaner Jersey cross heifers, 12s 6d. Pigs: Good weaners, 12s to 14s; medium do., 8s to 10s; very small do., ss. STORTFORD LODGE SALE. SHEEP VALUES MAINTAINED. Hastings, Feb. 7. Over 200 fat cattle were yarded at the Stortford Lodge to-day. The quality was indifferent, and few prime lines were entered. Values for bullocks were on a par to firm last week, while cow and heifer beef had an easier tendency. Bullocks made from £4 15s to £6; heifers, from £3 10s to £4 15s; cows, from £2 15s to £4 10s. No store cattle were entered. The entry of 26,000 store sheep had a good sale, values for all classes of sheep being well maintained, although some ewe lines were better buying than similar sheep sold at the recent ewe fair. Ewes, 4-tooths and over, to 17s 6d; 2-tooths, to 265; wethers, to 18s 4d; rape lambs, to 16s 4d. Five thousand fat sheep came forward and sold under good competition at rates on a par with those of last week. The demand was keener than at the previous sale. Lambs, 15s to 21s; ewes medium to prime, 14s 6d to 15s 6d; others, from 13s; wethers, medium to prime, 20s 64 to 22s sd; others, from 19s. BURNSIDE YARDINGS HEAVIER. DEPRECIATION SEEN IN VALUES. Dunedin, Feb. 7. There werp heavier yardings of beef and button at the Burnside sale to-day. The entry in the beef section totalled 286 head. Values opened at 10s lower on last week, but firmed slightly toward the end. Extra prime heavy bullocks sold to £ll 17s 6d; prime heavy, to £9 12s 6d; medium, £6 17s 6d to £7 17s 6d; light down to £4 17s 6d; prime heifers, to £6 12s 6d; prime cows, to £6 2s 6d. Fat sheep.—The entry numbered 1539, almost entirely ewes, there being only odd consignments of wethers. Prices for ewes depreciated fully 2s per head and in places the heavier ewes offered met i with an even more pronounced drop. Wethers, on account of shorter supply, did not decline to the same extent, but vendors had to accept about Is less than last week’s values. Prime heavy wethers sold to 28s; prime wethers, 24s 6d to 265; medium, 22s to 23s 9d; light, down to 18s; extra prime heavy young ewes, to 24s 6d; prime heavy ewes, 18s to 21s; medium quality ewes, 15s 6d to 17s 6d; light, down to 12s 6d. The offering of fat lambs was the smallest yarded for some time and freezing buyers and butchers alike operated keenly and late rates were fully maintained. Extra heavy butchers’ lambs, to 28s; heavy lambs, 23s to 245; medium quality, 19s 6d to 21s 6d; light down to 17s. In the store cattle section the entry numbered 220 head. Competition was not keen and values hardly realised late rates. In the dairy section a small entry of 15 head was submitted, and for young cows close to profit there was a good sale.

A yarding of 141 fat pigs came forward, in which baconers’ predominated. The latter met with an exceptionally good sale, values appreciating fully 10s per head. Enhanced values also obtained for porkers. Heavy baconers sold to £3 18s; heavy porkers, to £2 6s. There was a yarding of 129 in the store pig section, which was quitted at values slightly lower than those ruling at late sales, prices being down 3s a head. PRICES GENERALLY FIRMER. BRIGHT TONE AT WESTFIELD. Auckland, Feb. 7. . There was a distinctly bright tone at the weekly Westfield fat stock sale today, and with smaller yardings in several cases, competition was brisk with a consequent firming of values. The offering of beef cattle was the same as last week, with cow and heifer beef predominating. Values improved as the sale progressed, and choice lines commanded excellent prices. Extra choice ox sold to 20s per 1001 b; choice and prime, 17s to 19s; secondary and plain, 13s to 16s; choice and prime cow and heifer beef, 16s to 19s; ordinary cow beef, 10s to 15s. Extra heavy prime steers ranged in price from £8 2s 6d to £8 12s 6d; heavy prime, £7 to £8; lighter prime, £5 15s to £6 17s 6d; light prime, £4 10s to £5 12s 6d; small and unfinished, £3 10s to £4 7s 6d; extra heavy prime young cows and heifers, £4 10s to £5 ss; heavy prime, £3 15s to £4 7s 6d; lighter prime, £2 5s to £3 7s 6d; other killable cows, £1 10s to £2 12s 6d.

Owing to the many fates, fewer sheep were penned. Ther was brisk competition, and prices for prime mutton were firmer, with plain and unfinished sorts unchanged. Prime wethers, 22s to 295, unfinished, 18s to 22s 9d; prime ewes, 13s 6d to 20s 9d; unfinished, 5s to 14s 9d. Lambs came forward in average numbers, and sold under steady competition with a firming of values. Prime lamb, 15s to 26s 6d; unfinished, 8s to 15s. The yarding of calves was a small one, and was insufficient for requirements. Very few good quality calves were penned, and the demand was brisk, with values showing a considerable advance. Runners made 40s to 71s; vealers, 22s to 695. Pigs were offered in well up to average numbers, and baconers showed an improvement. Porkers were inclined to be easier, while store pigs were again influenced by the drying-off of dairy cattle, and were cheaper. Baconers, 49s to 735; porkers, 29s to 41s; no large stores were offered. FROZEN MEAT TRADE. ( RETAIL PRICES IN LONDON. The New Zealand Meat Producers Board has been advised by its London manager that the following retail prices were being quoted for New Zealand lamb and mutton retailed in London during January. These prices represent a fair average of the prices quoted by the better class shops in London for the best quality of New Zealand lamb and mutton:— NEW ZEALAND LAMB.

Sales of shares reported by the Press Association yesterday were: — ’ Wellington:' Sale on Exchange: Rural Advances bonds, £99; National Bank of New Zealand, 85s; Bank of New Zealand D shares, 32s 4d; Guarantee Corporation, 8s 3d; Tooth’s Brewery, 44s 7d and 44s 8d; King Solomon, 4s lid. Auckland: Sharemarket sales: New Zealand Government bonds, 1940, 4 per cent., £lOl 10s; stock, 1938-43, 3| per cent., £102; stock, 1939-43, 3J per cent., £lOl 17s 6d; Napier Borough, 1945, 5| per cent., £95 10s; Amalgamated Brick (Auckland), 1944, 7j per cent., £93; Commercial Bank of Australia, 17s 6d; Bank of New Zealand, 50s 3d; Dalgety, £lO 7s; Northern Steam, 7s; Robinson Ice, 17s 6d; Wilson’s Cement, 28s; Bell Kilgour, 10id; Gillespie’s Beach, 2s 3Jd; King Sdlomon, 4s 2d, 4s Id; Waihi, 31s; Waihi Junction, 5s (2)s, 4s lid; Mount Lyell, 25s 3d. Unofficial: Auckland Farmers’ Freezing, 17s; Investment Executive Trust (B), £102; Tru-Colour Film (12s paid), 18s 6d. Christchurch: Dunedin City, 5| per cent., 1934, £lOl 15s; Commercial Bank of Australia, 17s 6d; Bank of New South Wales, £33 ss; Bank of New Zealand, 50s 4d (2); A.P.A., 11s 2d, Ils Id; Standard Insurance, 625; New Zealand Refrigerating (£1 paid), 18s 3d (2); New Zealand Refrigerating (10s paid), 8s Id; New Zealand Breweries, 40s 9d (6); Staples Brewery (ex div.), 29s 3d; Jimaru Brewery (7s 6d paid), 6s; Mount Lyell, 25s 3d, 25s 3d; Alexander Mines (13s. 6d paid), 15s; Gillespie’s Beach, 2s 3Jd, 2s 3d; Glenroy (6d paid), 6|d; Golden Point, 3Jd (2); Golden Sands, 2s lid (2); Maerewhenua, lid (3); Mahakipawa, 2d; Nevis Diesel Electric, Is (2); New Cornish Point (6d paid), 7d (2)< Waihi Grand Junction, ss. Sales reported: E., S. and A. Bank, £5 17s 6d; Bank of New Zealand, 50s 3d (2); Dalgety and Co., £lO 6s; Goldsbrough Mort, 33s lOd; New Zealand Breweries, 40s lOd; Mount Lyell, 25s Id, 255; Tooth’s Brewery, 44s 9d, 44s 8d; 44s 9d; Wilson’s Cement, 285.,

SYDNEY EXCHANGE ACTIVITY.

By Telegraph—Press Assn. —Copyright.

Rec. 8.30 p.m. 1 Sydney, Feb. 8. The stock exchange industrial section continues active but buying strength is concentrated mainly on high-class securities. Prices are generally steady. Government loans are firm. To-day’s sales were: ‘ Bank of New South Wales, £33; Commercial Bank of Sydney, £l7 15s; E., S. and A. Bank, £5 15s; National Bank (£5 paid), £6 12s 6d; ditto (£lO paid), £l3 10s; Queensland National Bank, £5 15s; Mercantile Mutual Insurance, 23s 6d; Associated News, 21s lid; Howard Smith, 15s 6a; Burns Philp South Sea, 295; Australian General Insurance, 13s 3d; .Australian Provincial Assurance, Hs sd; British Tobacco, 37s 3d; Tooth’s Brewery, 455; Toohey’s Brewery, 28s 6d; Carlton Brewery, 455; Australian Glass, 50s 9d; Dunlop Perdriau, 20s 41d; Goldsbrough Mort, 345; Fairymead Sugar, 345; David Jones, 39s 3d; Standard Cement, 18s 6d; General Industries, Hs 9d; Commonwealth Wool, 21s 9d; Mount Morgan, 72s 6d; Broken Hill Proprietary, 44s 7ld; South Broken Hill, 74s 6d; Bulolo Gold, £6 15s; Kuala Kampar, 14s lOd. . Melbourne reports the following sales: Goldsbrough Mort, 34s 3d; Australian Glass, 50s; North Broken Hill, 9s 4d; Commercial Bank of Australia, 17s 6cl, ditto (pref.), £9 7s; Herald-Times, 51s; Taranaki Oil, Is Bd. AUSTRALIAN PRODUCE PRICES. SYDNEY WHEAT MARKET DULL. Rec. 9.5 p.m. Sydney, Feb. 8. Wheat- is very dull. Bagged in bulk on siding in the country is quoted at Is llid a bushel, equal to 2s 6Jd te 2s Ija ex trucks at Sydney. Other Sydney quotations are: £ll 10s a ton; bran, £4 ss; pollard, £5; potatoes, Tasmanian £7, Victorian £6; onions, Victorian Globes to £4 10s; maize, 3s to 3s 6d a bushel. Adelaide quotations are: Wheat, growers' lots, 2s 4d; flour, bakers’ lots, £H 10s; bran, £4 12s 6d; pollard, £4 15s; barley, 2s 4d; oats, 2s. PRICE OF SILVER. By Telegraph—Press Assn.-Copyright. Rec. 7.7 p.m. Londdn, Feb- 7. Silver is quoted at: Spot 19 H-16q, forward 19fd. Yesterday’s prices were 19 9-16 d and 19 5-Bd. BRITISH WAR LOAN SALE. Rec. 7 p.m. London, Feb. 7. British War Loan 3A per cent, bonds have been sold at £lOl 17s 6d. AUSTRALIAN INSURANCE MERGER. At an extraordinary general meeting of shareholders in the Equitable Life Assurance Company of Australasia, Ltd., in Brisbane last week, resolutions necessary for the ratification of proposals for the amalgamation or transfer of the company’s business with the Queensland Probate Insurance Company, Ltd., were carried. The proposals have yet to be ratified by shareholders in the Queensland Probate Insurance Company Ltd.

FOREIGN EXCHANGES. WEAKNESS OF THE FRANC. British Wireless. Rugby, Feb. 7. The following rates on foreign exchanges are current, compared with the cabled quotations on February 6 and

AUSTRALIAN GENERAL INSURANCE.

The Australian General Insurance Company, Ltd., reports an' underwriting surplus of £4769 for 1933, compared with a surplus of £2375 in 1932, and an underwriting loss of £11,132 .in 1931. , Net premiums were £67,259, against £74,658 in 1932, but losses and expenses of management were both lower. Receipts from interest and rent were £5870, making the total profit £10,639. . A dividend of 8 per cent, .(compared with 6 per cent, in 1932) requires £5600, and the balance, £5039, has been transferred to the contingent fund. This will amount to £54,644, and it is proposed to transfer £40,000 from it to a reserve fund. HEMP AND TALLOW QUIET. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated February 3, from the High Commissioner for New Zealand, London;— Tallow: Market quiet at auction; 594 casks offered of which 194 sold. Present spot quotations are:— Beef: Sweet and/or mixed, 22s to 22s 9d. Dark to dull, 18s to 19s 3d. Mixed: Dark to dull, 17s 6d to 19s 3d. Gut, etc.: 17s 6d to 195.3 d. Others unchanged. Hemp: Manila, market quiet but firmer at. the close. “K” grade for FebruaryApril and March-May shipments value £l4 12s 6d. Sisal: Market quiet. No. 1 grade for March-May shipment sold at £l6 ss. Closing value for February-April shipment, £l6. New Zealand: Market quiet and nominally unchanged. Shippers not offering find no first-hand sales reported. Peas: Maples, market quiet. Value of “A” grade Tasmanian for March-May shipment, 43s 6d; No. 1 New Zealand, 42s 6d. Blues: More enquiry for Colonial but tendency easier at the close. Sellers Tasmanian for February-March shipment, £l2 10s. Nominal value of new crops New Zealand is £l2 ss. Apples: Supplies continue heavy. Dessert: Prices generally maintained; cooking, slightly weaker. 8s 6d to 14s 6d; British Columbia Newtowns, 9s to Ils 3d; Washington Jonathans, 12s to 12s 6d; British Columbia Jonathans, 9s 3d to 12s; British Columbia Delicious, 10s 6d to 13s 6d. Pears: Supplies decreasing; prices rising. American Winter Nelis, Ils to 14s. FRUIT AND VEGETABLES. PRICES AT NEW PLYMOUTH. The retail prices of fruit and vegetables at New Plymouth for the week ended yesterday. were:— Apples (Sturmers), 61b for Is; Gravensteins (new season’s), 51b for Is; cooking, 51b for Is; oranges, Californian, >5 for Is; Californian grape-fruit, 5d each; bananas, 31b for Is: peaches, 2 and 31b for Is; cooking. 31b for Is; pineapples, Is 3d to Is 6d each; grapes, Is 4d to Is 8d per lb; lemons, 12 for Is; plums, 31b for Is; nectarines, 2Jlb and 31b for Is; pears, 31b for Is; prunes, 3d per lb; tomatoes, hothouse, 4d per lb; rhubarb, Hawke’s Bay, 4d to 6d a bundle; cabbages, 2d to 4d; lettuce, 3d to 4d; onions, 101 b for Is; pickling, 71b for Is; new potatoes, 81b for Is; roots, carrots, beetroot etc., 2d per bundle; peas, 31b for Is; marrows, 3d to 6d; beans 3d per lb.

Per lb. d. 12 10 ..... 10 6 ..... 8 Hindquarters 11 NEW ZEALAND MUTTON. (Wethers.) Per lb. ■ / d. ..... 8 ' TyHJTlR ......... ... • • • 8 4 ..... 3 SALES OF STOCKS AND SHARES.

par:— Feb. 7 Feb. 6 Par. Montreal, dol. .. 5.034 5.004 4.866 New York, dol. . 5.004 4.94 4.866 Paris, fr 7813-16 .78J 124.21 Brussels, belga . 22.264 22.221 35.00 Geneva, fr 15.994 15.98 25.22 Amsterdam, fl. . 7.71 7.70 1210 Milan, lire .... 591-8 585 92.46 Berlin, r.m. ... 13.124 13.08J 20.43 Stockholm, kr. . 19 394 19.394 18.159 Copenhagen, kr. 22.40 22.40 18.159 Oslo, kr 19.90 19.90 18.159 Vienna, sch. .... 284 28| 34.585 Prague, kr 1042 104| 164.25 Helsingfors, mk. 2261 2264 129.23 Madrid, pes. .. 38 7-16 384 25.221 Lisbon, escu. .. 109J 110 110 Athens, dr 535* 5351 375.00 Bucharest, lei .. 525 525 813.6 Rio de Jan., mil. 44* 44* 5.899d Buenos Aires, d. 36 J* ■ 364* 47.619d Montevideo, dol. 37J* - 37-4* 51d Bombay, rupee 18 3-32 18 3-32 18d Shanghai, dol. . 16 5-16 164 — Hongkong, dol. 18d 18d —— Yokohama, yen 14 5-16 14 9 32d 24.58d Batavia, fl — — 12.10 Belgrade, din.’ . 230 ‘Sellers. 225 276.31