COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18291, 14 June 1929, Page 7

COMMERCIAL.

WHEAT PRICES GO TUMBLING IN U.S.A. FARM RELIEF BILL HELD UP. (United Press Association—By Electric Tel egr aph—Coar riaht.) NEW YORK, May 12. A Chicago message states that the Senate’s failure to accept the Farm Relief Bill, which was passed by the House, removed the main prop from the wheat market and sent prices tumbling at the opening, but reports that advocates of the debentures clause would work for its inclusion in the Tariff Bill and permit farm legislation to go through unhindered, restored more confidence later. Nevertheless, sentiment continued nervous, and closing levels remained considerably lower, namely: July 105 1 cents a bushel; September, 1101 cents; December, 1151 cents. TALLOW SALES. (United Press Association—By Electric Tel egraph— Copyrlgh t .) (Received June 13, 2 p.m.) At the tallow sales, 1410 casks were offered and 292 sold at 6d decline. Quotations are:— Mutton.—Fine, 41/3, medium. 37/-. Beef.—Fine, 41/-; medium, 36/6. AUSTRALIAN MARKETS. (United Press Association—By Electric Telegraph—Copyright.) (Received June 13, 9.15 p.m.) SYDNEY, June 13. Wheat is lifeless at 3/7?! at country stations; 4/2 h ex trucks at Sydney. Flour:—£ll/10/-; pollard £8; bran £7/5/-. Potatoes:—Tasmanian £l7; Victorian £l3/10/-. Onions:—Victorian brown to £l4. Oats:—White 4/8. Maize.—s/6 per bushel. THE SHAREMARKET. By Telegraph—Press Association. AUCKLAND, June 13. Sales on ’Change.—Auckland Harbour Board, 1947, 5i per cent., £lOl 10s; National Bank of Australasia (cont.), £9 11s 9d; Queensland Insurance, 64s 3d; New Zealand Guarantee Corporation (ord.), 9s sd; Auckland Gas, 24s 4d (two parcels); Auckland Gas (cont.), 18s; Devonport Steam Ferry, 235; Australian Iron and Steel (pref.), 21s lOd; Haywards Pictures, 20s 3d; Milne and Choyce (deb. stock), 26s 9d; New Zealand Paper Mills, 19s 8d; Taranaki Oil, 4s 3d; Wilson’s Cement, WELLINGTON, June 13. Sales reported:—oj per cent. New Zealand Government, inscribed stock, 1933, £lOl 5s Od: Staples and Co. £2 8s 6d (two parcels); New Zealand Breweries (shares), £3 11s; Colonial Sugar Co., £SB ss. DUNEDIN, June 13. Sale on ’Change.—New Zealand Breweries (shares), 71s 3d. Sales reported.—New Zealand Breweries (shares), 71s, 71s 2d (two parcels); Dunedin Brewery, 30s; New Zealand Paper Mills, 19s 6d. GERALDINE STOCK SALE. There was a good entry of sheep at the Geraldine stock sale on Wednesday, and prices for good lots were well up to current values. No pigs, and. few cattle, were yarded. Prices were as follows: Fat Sheep.—Ewes: 10 at 20/9, 24 at 18/9, 10 at 16/9, 4 at 10/-, 36 at 19/-, 38 at 20/10, 3 at 21/6, 6 at 21/6, 7 at 23/9, 36 at 23/4, 14 at 22/1, 19 at 21/10, 14 at 15/-, 25 at 15/-, 11 at 15/-, 18 at 15/-, 7 at 15/6, 31 at 17/7, 29 at 20/-, 28 at 21/10, 27 at 20/-, 10 at 17/7, 10 at 21/-. Wethers: 16 at 30/4, 10 at 32/6, 22 at 28/6. Lambs: 25 at 22/1, 20 at 21/-, 16 at 20/6, 11 at 20/-, 10 at 25/-, 13 at 22/-, 5 at 20/-, 33 at 23/-, 30 at 25/11, 26 at 25/-, 12 at 24/9, 31 at 25/7, 30 at 26/10, 52 at 27/4, 45 at 23/10, 34 at 27/7, 5 at 27/7, 98 at 28/4, 7 at 22/4, 23 at 22/9, 24 at 25/10, 21 at 24/-, 114 at 25/-, 70 at 24/-, 82 at 21/4. Store Sheep.—Sixtooth wethers: 15 at 24/-, 15 at 24/-, 50 at 23/4, 50 at 22/9, 50 at 22/7, 23 at 15/-, 21 at 25/6, 25 ewes at 10/-, 56 lambs at 22/9, 29 wether lambs at 15/9. Cattle.—Three empty heifers at £4/17/-, 1 springing heifer at £5/7/6, 1 fat cow at £B. RABBITSKIN REPORT. Wright, Stephenson and Co. report: —There was a full attendance of buyers at Wednesday’s sale, when large catalogues were offered. Bidding was not so keen as at last auction, and values were lower by id on racks and summers, 2d to 3d lb on autumns and incomings, 8d lb on winters, and up to 3d lb on spotted sorts. Prices being paid are still very satisfactory. We quote: Weevily, 26d to 40d; second broken, Sid to 321 d; autumn broken, 42d to 453 d; first winter broken, 503 d to 54d; runners and suckers, 25id to 403 d; summers, 303 d to 36d; summer bucks, 33d to 33id; light racks, 483 d to 482 d; prime racks, 47id to 48d; dawny autumns, 48d to 493 d; early autumns, 52c! to 563 d; autumns, 63d to 66id: second Incoming, 533 d to 56d; incoming winters, 73id to 793 d; early winter bucks, 80d to 88id; early winter does, 82id to 88d; first spotted winters, 563 d to 673 d; second winter bucks, 64d to 663 d; second winter does, 80d to 87Sd; first winter bucks, 86d to 913 d; first winter does, 1043 d to llOd; prime bucks, 923 d to 98d; prime does, 1163 d to 117 d; second spotted winters 46id to 56id; springs, 403 dto 45id; milky, 33d to 413 d; fawn. 58id to 833 d; winter fawn 103 dto 112 d; summer black, 943 dto llOd; second winter black, 65d to 773 d; hareskins, 39id to 52d; horsehair, 18d to 20d. MONTHLY SHIPMENTS OF MEAT. The New Zealand Meat Board is advised by cable from its London office that the shipments from Australia and South America to the United Kingdom during the month of May were as follows: Australia—Carcases mutton, 9,895; carcases lamb, 14,135; quarters beef, 27,923. South America —Carcases mutton, 297,585; carcases iamb, 307,279; quarters beef (frozen), 8,552; quarters beef (chilled), 531,117. Included In the South American figures are 104,218 carcases lamb, and 168,996 carcases mutton, from Patagonia. New Zealand —Carcases mutton, 145,426; carcases lamb, 704,472; quarters beef, 9,702,

CHRISTCHURCH STOCK EXCHANGE. THURSDAY’S SALES. (Special to the “Herald.”) CHRISTCHURCH, June 13. Sales on ’Change were made to-day as follows:—Australian Bank of Commerce 36/8; Commercial Bank of Sydney £27/5/-; New Zealand Guarantee Corporation 9/8; New Zealand Breweries 71/- (2 parcels), 71/2, 71/9, 72/- (2 parcels), 72/1 (6 parcels), 72/2; Australian Iron and Steel (pref.) 21/8, 21/7, 21/6; Dunlop Rubber 27/3; Electro Zinc (pref.) 36/9; Mount Lyell (cum. div.) 42/6, 42/-; Mahakipawa 8d (5 parcels), 7Sd (2 parcels). Sales reported were:—Dalgety and Co. £ls/2/6; Auckland Gas 24/4. J i

CURRENT QUOTATIONS. Buyers. Sellers. £ s. d. £ s. d. N.Z. Govt. Debentures— 4£ p.c. Inscr., 1938 99 15 0 00 0 0 4i p.c. Inscr., 1939 99 12 6 00 0 0 4i p.c. Bonds, 1930 — 99 10 0 41 p.c. Bonds, 1939 99 15 0 4i p.c. Bonds, 1941 99 15 0 5} p.c. Bonds, 1932 99 10 0 99 15 0 51 p.c., Inscr., 1941 99 10 0 — 51 p.c. Inscr., 1933 99 10 0 00 0 0 5i p.c. Bonds, 1936 101 10 0 51 p.c. Inscr., 1936 01 10 0 .01 12 6 51 p.c. Inscr., 1933 101 0 0 — Other Debentures— N. Z. Breweries • (inscr.) .... 1 4 3 1 6 0 Do. (bonds) . . . Glaxo 6i per cent. 1 4 0 1 6 0 1945 91 0 0 — Banks— Adelaide 10 0 6 10 2 9 Aust. of Commerce 1 16 7 1 16 8 Australasia .... — 14 15 0 Comm, ol Aust. . 1 10 3 1 10 4 Do. (contr.) .... 0 19 0 Comm, of Sydney 27 2 6 27 5 0 E.S. and A Natl. of A’lasia 8 7 6 8 9 0 ■ (£5 paid) . . . 9 10 0 9 11 3 Natl, of New Zeal. 7 1 0 7 2 3 New South Wales . New Zealand (cum. 50 15 0 51 0 0 div.) 3 3 0 3 3 3 Do. (D mortgage Shares cum. tu ., 1 9 0 — Union of Australia 15 15 0 15 16 0 Insurance— Merc. Mutual . . . 1 11 9 1 13 3 National 0 16 2 0 16 4 New Zealand . . . 2 7 6 South British . . . 3 5 6 Standard 3 4 0 United 10 0 0 10 12 6 Loan and AgencyDalgety and Co. . Goldsbrough Mort 15 0 0 15 2 6 (cum. div.) . . 2 10 9 2 11 1 Merc. Finance Corpn. (7/6 pd) — 0 3 5 N.Z. & Riiver Plate N.Z. Guarantee i ii 9 1 13 0 Corporation . . United Building 0 9 6 0 9 9 Society . . . 0 15 6 0 16 0 Younghusbands ' — 2 11 0 Shipping— Huddart Parker . 2 5 3 2 5 7 Frozen Meat— Canterbury (pref.) N.Z. Refrigerating 5 2 3 5 5 0 (£1 paid) . . . 0 16 4 0 16 5 Do. (10/- paid) . . 0 7 6 0 7 8 N.C. Freezing . . . 0 10 3 i 1 0 Woollens— Kaiapoi (7/- paid) 0 5 1 Do. (pref.) . . y . . 0 15 6 0 17 0 CoalGrey Valley . . . 1 2 10 Westport 1 15 3 1 16 6 Stockton (ord.) . . 3 13 3 — Do. (pref.) .... 0 4 5 0 4 11 Gas— Ashburton .... 5 8 9 Auckland 1 4 3 1 4 6 Breweries— Carlton 2 7 3 2 7 7 New Zealand . . . 3 12 0 3 12 3 Staples 2 8 0 2 9 0 Timaru (5/- paid) 0 8 3 0 8 7 Toohey’s 1 15 4 1 16 6 Tooth’s 2 19 3 3 0 0 White Star .... — 0 11 8 Miscellaneous— Aust. Distilleries . Australian Iron & i i 6 i 2 3 Steel (pref.) . . 1 1 7 1 1 9 Beath and Co. . . 1 11 0 1 11 6 Do. (1/- paid) . . British Tobacco 0 8 6 0 8 9 (cum. div.) . . 2 9 i 2 9 5 Burns Philp . . . — 2 6 0 Broken Hill Prop. — 1 7 7 Dunlop Rubber . . 1 7 i 1 7 6 Electro Zinc (ord.) — 1 16 3 Do. (pref.) .... Glenmore Brick & 1 16 9 1 16 11 Tile 1 10 3 1 12 0 Henry Jones Co-op 1 14 0 1 14 2 Holden’s Motors 1 8 0 1 8 6 Hume Pipe (Aust.) 0 17 9 0 18 6 Kauri Timber . . Mason Struthers — 1 0 3 (£1 paid) . . . Mt. Lyell (cum. — 0 18 0 div.) 2 1 10 2 2 3 N.Z. Drug Co. . . N.Z. Farmers’ Co.- — 3 15 9 op. (10/- paid) 0 2 7 0 3 0 Do. (B pref.) . . . Do. (6* per cent 2 17 0 3 0 0 stock, 1939) . . . Do. per cent. 89 5 0 90 10 0 stock, 1945) . . . N.Z. Farmers’ Fer89 0 0 90 0 0 tiliser (cum. d.) 1 1 9 1 2 0 N.Z. Paper Mills . 0 19 3 1 0 0 New Colosseum 2 6 0 2 15 0 Quill Morris . . . 0 16 3 0 18 0 Taranaki Oil . . . — 0 5 6 United Pictures . Victoria Nyanza 1 9 0 — Sugar Whltcombe and 2 5 ii 2 6 2 Tombs 4 2 6 Wilson’s Cement . Eclipse Petrol (fil 2 1 8 2 2 6 paid) — i 0 0 Mining— Kildare 0 3 3 0 4 3 Mahakipawa . . . 0 0 7jV 0 0 8 Waihi . . . Winding Creek (6d — 0 12 8 paid) 0 1 li 0 1 21 MEAT FROM SOUTH AMERICA The New Zealand Meat Board has received a cable fro mits representatives at Buenos Aires, advising the following shipments to the United Kingdom for the fortnight ended, 3th June, from Argentine and Uruguay (the fi gures do not include exports from Patagonia, Chile or Brazil). 230,959 quarters chilled beef. 6,900 quarters frozen beef. 42,456 carcases frozen mutton. 87,240 carcases frozen lamb. The quantity shinped to the Continent of Europe during the same period was as follows: — 51,094 quarters frozen beef. 8,451 carcases frozen mutton.