FINANCE AND COMMERCE

Taranaki Daily News, 23 March 1934, Page 16

FINANCE AND COMMERCE

SHEEP AND CATTLE PRICES REPORT FROM ADDINGTON YARDS. STEADY COMPETITION NOTED. Christchurch, March 21. At Addington market to-day, the major sections attracted steady competition, with a maintenance of late rates. A very large store sheep entry was drawn from many parts of the North and South Islands. Fat cattle were slightly easier. Fat lambs: An entry of 3000 sold keenly. The new schedule is up to 7|d a lb for under 361 b sorts, and operating exporters paid up to that rate. Butchers paid 8d per lb. Extra prime heavy lambs sold to 28s Id; prime heavy, 23s 6d to 265; medium weight, 21s to 23s 6d; light, 17s 6d to 20s 6d. Fat sheep: An entry of 5200 head. The market was firm at late rates, with a spurt over the last 1000 causing an advance of Is 6d a head. Extra prime heavy wethers sold to 27s 7d; prime heavy, 23s to 25s 6d; prime medium weight, 21s to 235; ordinary, 19s to 21s; light, 15s 6d to 18 s 6d. Extra prime heavy, ewes, to 22s 6d; prime heavy, 20s 6d to 21s 6d; prime medium weight, 18s to 20s; ordinary, 15s to 17s; light, Ils 6d to 14s 6d. Fat cattle: An entry of 560 head, slightly more than the market could absorb, with a consequent easing of up to 10s a head. Best beef made 21s to 23s per 1001 b; good, 18s to 20s 6d; heavyweight, 15s 6d to 17s 6d; ordinary, 13s to 16s; and rough, down to 10s. Extra prime heavy steers sold to £lO 12s 6d; prime, £7 10s to £8 15s; medium weight, £6 10s to £8 ss; ordinary, £3 10s to £6; light, to £3 ss. Extra prime heifers, to £8 2s 6d; prime, £4 to £5 15s; medium, £2 15s to £3 15s; light, to £2 15s. Extra prime cows, to £8 2s 6d; prime, £3 10s to £5 10s; medium, £2 to £3 ss; light, to £2. Store sheep: An entry of 28,000 head was the largest of the year in Addington. It was a steady sale for quality sorts, on a par wtih late rates. Extra good twotooth crossbred ewes, 33s 6d to 34s 6d; average, 23s 6d to 26s 9d; average s.m. crossbred, 16s 6d; good two-tooth Romney, to 32s 7d; good two-tooth three-quarter-brfed, to 30s 9d; good two-tooth Corriedale, 32s to 335; average twb-tooth halfbred, 25s 6d to 275; inferior, 19s to 235; extra good four-year halfbred, to 26s 3d; extra good s.m., 21s to 9d; ordinary s.m., 17s to 20s 6d; aged and f.m., 5s 6d to 9s 6d; f.m. half bred and crossbred, 9s 6d to 15s 6d; good two-tooth wethers, 18s 6d to 19s 9d.

Fat pigs: A good entry and a keen demand, except for choppers, of which there was an over-supply. No pigs were bought for export. Choppers, 30s to £4 6s; baconers, 45s to 52s 6d; heavy, 57s 6d to £3 12s 6d; average price per lb, 4Jd to 5Jd. Porkers, 31s to 33s 6d; heavy, 34s 6d to £2 Is 6d; ..verage price

per lb, 5d to s!d. _ The demand for anything of quality in the veal sect?—' was good. The top price was £4 13s 6d. 'ri The store pigs market was firm at lata rates. Weaners, 8s to 12s; small to mc-u--ium stores, 12s 6d to 17s 6d; good, 18s to 255.

SALE AT STORTFORD LODGE « DEMAND AND COMPETITION GOOD. EXPORT BUYERS SEEK PURCHASES. Hastings, March 21. With export operators taking a keen interest in fat cattle values at the Stortford Lodge sale to-day were well maintained. The demand was good Ond competition strong, few lines failing to meet the market. Approximately 270 head

were yarded, the quality being good. Bullock entries predominated, export operators taking a good proportion of the entry. Bullocks, medium to prime, £.7 12s 6d to £9 8s 6d; others from £4 11s. Cows, medium to prime, £4 10s to £5 15s; others from £3. Heifers, medium to prime, £4 13s 6d to £6; others from £4 ss. Store cattle made values much on a par with last week, the quality being somewhat mixed. The demand was fair, l oca l graziers taking the bulk of the offering. Bullocks and steers sold to £5 18s, cows to £2 10s, and heifers to £3 14s 6d.

Approximately 2300 fat sheep were entered, ewe lines predominating. The quality was good, there being fewer top lines entered. Ewes made late rates, as did lambs and wethers. Wethers were in very short supply and met a good demand. Export buyers took a big proportion of the entry. Ewes, medium to prune, 17s 4d to 20s; others from 16s. Wethers, medium to prime, 23s to 245; others from 22s 3d. Lambs from 16s lOd to 21s lOd. Store sheep: Some 15,000 head were yarded. The demand was irregular, lambs and wethers meeting the most steady competition. Ewes made rates on a par to slightly easier than last week. Two-tooth ewes sold to 235; older ewes to 18s; fattening ewes to 14s 6d; wethers to 225; and lambs to 16s 4d.

EWES AT JOHNSONVILLE PRICES SLIGHTLY EASIER. FINE QUALITY BEEF CATTLE. Wellington, March 21. Ewes were slightly, easier at the Johnsonville sale to-day, but prices of other stock were but little changed. Wright, Stephenson and Co., Ltd., and Abraham and Williams Ltd. offered a full yarding of all classes of stock. The cattle comprised exceptionally good quality heavyweight bullocks, cows and heifers, with a few pens of lighter sorts. Vealers were also yarded up to the usual number. Prices for ox and cow beef showed no alteration on last week’s rates. Vealers met a ready sale. The sheep yarding was mostly of good quality stock; wethers were dull of sale, while ewes were slightly easier as compared with last week’s rates. Lambs were yarded in large numbers and met with a fair demand. Cattle: Prime heavy bullocks, £8 18s to £8 ss; heavy bullocks, £7 18s 6d te £7 8s 6d; bullocks, £6 12s to £4 15s. Prime heavy cows and heifers, £6 to £4 16s; cows and heifers, £4 5s to £3; runners, £3 3s to £2. Vealers, £1 14s to 16s. Sheep: Prime extra heavy wethers, 25s lOd te 25s 2d. Prime heavy wethers, 24s 7d; medium wethers, 23s to 22s lid; prime extra heavy ewes, 21s 3d to 20s lOd; prime heavy ewes, 18s 8d to 18s 6d; medium ewes, 17s lOd; heavy lambs, 22s to 19s lid; medium lambs, 18s lOd to 17s Id; light lambs, 16s. 1

BEEF CATTLE NUMEROUS YARDING AT WESTFIELD MARKET. PRICES AGAIN DECLINE. Auckland, March 21. An exceptionally heavy yarding of beef cattle was penned at Westfield to-day, as a result of which prices suffered a further decline. Other classes of fat stock also came forward in full numbers. A feature of the yarding was the large proportion of first-class quality. In spite of this the weight'of numbers resulted in a decline in values of about Is per 1001 b on last week’s rates. Heavy cattle were mostly affected. Extra choice ox beef made 22s per 1001 b; choice and prime, 18s to 21s; secondary and plain, 14s to 17s; prime young cow and heifer, 16s to 21s; ordinary cow, 12s to 17s. Extra heavy prime steers made £8 16s to £10; heavy prime, £7 10s to £8 17s 6d; lighter, £6 10s to £7 12s 6d; light, £5

5s to £6 10s: small and unfinished, £3 10s to £5 7s 6d; extra heavy prime young cows and heifers, £5 to £6 2s 6d; heavy prime, £3 15s to £5 ss; lighter, £2 10s to £4 7s 6d; other killable cows, £1 10s to £3 7s 6d.

Prime calves met a good sale, but others were easier. Runners, £1 15s to £3 14s; vealers, 20s to £3. Sheep were well up to average numbers and sold well at late rates. Prime wethers made 23s 6d to 295; unfinished, 21s to 23s 9d; prime ewes, 15s to 23s 6d; unfinished, 7s 6d to 16s 3d. Lambs sold briskly without material change in values. Prime, 16s to 28s 6d; unfinished, 10s to 16s 6d.

The offering of pigs was larger than usual, but met a steady demand. The number sold constituted a record at Westfield this season, an easing in porkers and smaller stores being the only movements in the market. The price per lb for baconers averaged 5d to 5Jd, and for porkers, 4?d to 5Jd. Baconers made 44s to 775; porkers, 24s to 395; weaners, 3s to Ils; slips, 9s to 13s 6d; large stores, 14s to 30s.

DEMAND FOR EASTER TRADE PRICES FIRM AT BURNSIDE. BIG ENTRY OF SHEEP AND CATTLE. Dunedin, March 21. Heavier yardings of fat sheep and cattle were offered at Bumside to-day. An attractive selection of cows and heifers and a Small proportion of prune bullocks were included in a yarding of 380 head of fat cattle. Outside competition and a better local demand for* the Easter trade kept prices firm in spite of the large entry, and values were equal to those of last week. Extra prime heavy bullocks sold to £l2 2s 6d; prime medium, £7 10s to £9; light and unfinished, £5 10s to £7. Best heifers and young cows, £5 to £7 17s 6d; light and medium, £3 to £4 10s.

More than 2000 fat sheep were penned. The entry included several consignments of extra choice ewes and wethers. At the start of the sale a few pens sold at last week’s rates, but cautious bidding by butchers soon caused a drop of 2s and 3s per head for ewes of all descriptions and Is per head for medium wethers. Halfway through the sale competition for any but choice lines was confined to exporters, who operated at late rates. Extra prime heavy wethers sold to 335; prime heavy, 28s to 29s 6d; prime medium, 25s to 27s 6d; light, 19s to 235. Extra prime heavy ewes sold to 21s 7d; prime heavy, 17s to 18s 6d; prime medium, 15s to 15s 6d; light, 10s to 13s. Store cattle numbered 254 head. The top price was £7 for a line of well-bred good-conditioned four-year-old steers. The few pens of young steel's met a good demand, several buyers being unable to fill their requirements. Vealers showed very little reduction in values. The dairy section was a ■ small entry of indifferent quality and late values were barely maintained. The lamb entry numbered 750 head of nice quality. Butchers and exporters competed . freely at slightly increased rates in line with the increased schedule.

In the pig section 198 fats were penned, and as bacon curers did not operate so keenly a dragging sale resulted, prices showing a reduction in some cases of 8s per head. Store pigs were not in demand and the large yarding of 141 did not at any stage command attention.

WORLD DAIRY EXPERTS MEETING AT ROME IN APRIL. ORGANISATION OF TRADE. A meeting of experts representing countries specially concerned with the question of international trade in dairy produce will be held on April 16 at the headquarters of the International Insti■tute of Agriculture in Rome. The experts will be asked to consider whether it is possible and desirable to take international action to secure a better organisation of production and of the international trade in dairy produce, and, if so, on what lines such international action should proceed. • To take part in this preliminary meeting, expert representatives of the countries most particularly interested in the problem, either from the point of view of their export trade or as large-scale importers, have been invited. The conference is the outcome of a resolution passed at the Economic Conference at London. HUDDART PARKER LTD. REFERENCE TO MATSON LINE. At the annual meeting of' HuddartParker Limited, held in Melbourne last week, Mr. J. L. Webb, chairman of directors, said steamer earnings had improved, but depreciation for the company’s two large vessels was a heavy item. There had been an increase in dividends from concerns in which the company held interests, but the subsidiary collieries were still unprofitable. “The position regarding competition by the subsidised Matson Line hi the Aus-tralian-New Zealand trade, is unchanged,” said Mr. Webb. “It is difficult to find a mear.j of countering foreign subsidies, but there can be no valid objection to the British Empire excluding from its inter-Dominion trade the vessels of any country which prevents British ships from trading between its ports.” ’

BUILDING SOCIETY SUCCESS. The 43rd report and balance-sheet of the Metropolitan Permanent Building and Investment Society presented at the annual meeting at Wellington on Tuesday shows that the total funds held are in excess of last year’s figures, and there was a further strengthening of the deposit account by an increase of £1666 in amount held on fixed deposit, and a decrease in call money of £1464. The total issue of these shares had already been applied for up to and including March, 1935. The mortgage account stood at £6066 less than last year, the reduction being brought about mainly by the process of liquidation under table mortgages. Since the last annual meeting no further foreclosures had been found necessary. In certain cases, where there were reasonable prospects of recovery, the directors deemed it prudent to nurse securities in hopes of avoiding realisation, to the mutual advantage of mortgagor and mortgagee, stated the chairman of the meeting, Mr. J. Marchbanks.

TASMANIAN DISCOVERY. Something like a jeweller’s shop has been met with in the old Beaconsfield mine (Tasmania), states the Sydney Bulletin. The management says “the shoot of stone at the 140 ft. level has widened to 3ft. and is carrying coarse and flour gold up to lOOoz. to the ton.” The stone is in disturbed country, and the Beaconsfield concern may have struck the missing leg of the western extension of the Tasmania lode. The old Tasmania mine, about half a mile away, produced over £3,000,000 worth of gold. In the Brandy Creek, 250 yards below where the present formation was struck, large quantities of alluvial gold were won some years ago. A 10-ton parcel is being got out for treatment

SHAREMARKET TRANSACTIONS.

NEW ZEALAND EXCHANGES.

Transactions on the New Zealand Stock Exchanges are reported by the Press Association as follows:—

Dunedin: Moonlight Wilson Creek, Is 3d (two lots). Reported sales: Wright, Stephenson (pref.), 18s 2d; Associated Newspapers, 22s 3d; Skippers, 9Jd. Auckland: Sharemarket sales: Bonds, 1955, 4 per cent., £lO2 10s; Stock, 1949, 4 per cent., £lO3 ss; Auckland City, 1965, 5| per cent., £lO2 10s; Henderson, 1961, 6 per cent., £95; South British Insurance, 76s 6d-(two parcels); Goldsbrough, Mort, 335; Auckland Gas, 24s 9d (three parcels); ditto, cont., 18s 3d.; Christchurch Gas, 28s 9d; Union Steam, pref., 25s 6d: Kauri Timber, 17s 6d; Colonial Sugar, £64 10s; Electrolytic Zinc, 26s 9d; King Solomon, 4s 3d; Talisman Dubbo, 8s 6d; Waihi, 36s (two parcels). Christchurch: Sales on exchange: New Zealand Government, 4 per cent, inscrib-’ ed, 1940, £lO2 ss;- New Zealand Government, 4 per cent, inscribed, 1946, £102; New Zealand Government, 4 per cent, inscribed, * 1949, £lO3 7s 6d; Commercial Bank of Australia, 16s lid (three parcels); English, Scottish and Australian Bank, £5 13s 6d; Bank of New South Wales, £34; Union Bank of Australia, £lO 4s 6d; South British Insurance, 76s 7d (two parcels); Goldsbrough, Mort, 33s 3d; New Zealand Guarantee Corporation (cum div.), 4s 3d; United Building Society (cum div.), ,20s Id (two parcels); New Zealand Refrigerating (£1 paid), 17s 6d; New Zealand Refrigerating (10s paid), 8s 2d; Kaiapoi Woollens (pref.), 17s 6d; Westport Stockton Coal (pref.), 3s sd; New Zealand Breweries, 40s 3d, 40s 2d; Timaru Brewery (10s paid), 7s 6d; Electrolytic Zinc, 26s IQd; Electrolytic Zinc, pref., 345; Howard Smith (ex div.), 15s 6d; Golden Point, 2jd (two parcels). Goldfields Dredging, lid; King Solomon (cum div.), 4s 2Jd (three parcels); Maerewhenua, 104 d (two parcels); Mataki, Is 8d; Moonlight Nelson Creek, Is 3Jd, Is 3d (two parcels); Nevis Diesel Electric, lojd.; Skippers, Ltd. (Is paid), Is Id; Skippers, Ltd. (9d paid), lOd. Sales reported: Devonport Ferry, 21s 6d; New Zealand Breweries, 40s 3d; Electrolytic Zinc (ord.), 26s 9d; Maraewhenua, 9Jd., 10|d; Rawang Tin, 7s 9M; Skippers, Ltd. (Is paid), Is Id; South British Insurance, 76s 8d (two parcels). Unlisted: Deep Leadj- Ltd. (Is paid), 2s; Woolworths (Victoria), pref., 25s 3d.

HOME INDUSTRIALS VERY FIRM. LONDON STOCK MARKET POSITION British Official Wireless. Rec. 5.5 p.m. Rugby, March 21. Home industrials were notably firm on the Stock Exchange as a result of the satisfactory revenue returns and the encouraging report of the past year’s working issued by British Chemical Industries Ltd.

FORDELL SALE QUIETER. MUCH SMALLER ATTENDANCE. The New Zealand Loan and Mercantile Agency Co. Ltd. reports on the Fordell sale held on Tuesday as follows: The yarding was mainly comprised of lambs, with several pens of bush wethers. The attendance of buyers was the poorest for this season, and sheep were hard to quit under the hammer, but most of the lambs and all the wethers were disposed of by private treaty after the sale. A line of 240 forward wethers sold at 225, and another line of store wethers at 20s 3d. Mr. A. H. McLean’s wether lambs sold under the hammer at 16s 2d, and another line on account of Mr. W. J. B. Tripe sold at 16s. Good w.f. wether lambs made 16s and 16s 2d, medium wether lambs 14s, small b.f. lambs 12s 6d to 13s 6d, fattening ewes 13s, forward wethers 225, store wefthers 20s 3d, Romney rams £3 3s, fat Jersey cows £3 10s.

FRUTT AND VEGETABLES.

Fruit and vegetables prices at New Plymouth yesterday were: Cooking ap-

pies 61bs for Is, dessert apples 51bs for Is, Cox’s Orange Pippin 31bs for Is; Pears, 41b and 61b for is; quinces, 41bs for is; oranges, 5 and 6 for is; tomatoes, 31b for Is; hothouse grapes, Is 6d a lb; lemons, Is 6d a dozen; passion fruit, 8d and Is a dozen; peaches, 31b for Is; bananas, 31b for Is. Vegetables: Peas, 31b for Is; cabbages, 2d, 3d and 4d each; beetroot, carrots and parsnips, 2d a bunch; onions, 101 b for Is; pickling onions, 71b for Is; pumpkins, IJd a lb; marrows, 3d and 4d each; swedes, Id a lb; kumera, 4d a lb; potatoes, 81b for Is.

LONDON DAIRY MARKET. AGENTS’ CABLED REPORTS. The New Zealand Loan and Mercantile Agency Company, Limited, Stratford, has received the following cable, dated March 22, from its London office:— “Butter, 72s to 735; cheese, white 43s to 43s 6d, coloured 44s 6d; markets steady.”