COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18350, 22 August 1929, Page 7

COMMERCIAL.

TIIE STOCK MARKETS. LARGE ENTRIES AT ADDINGTON. NUMEROUS PASSINGS. By Telejrra»>‘—Association. ! CHRISTCHURCH. August 21. ' Wintry weather prevailed at to-day’s | Addington market, but the entries of ) stock were above the average. Store | sheep dropped in value, but other classes showed little change. Store Sheep:—The yarding was an average one, and included a number of pens of good young ewes, close to lambing. The attendance of farmers I was small, and the market throughout was a dragging one, with a definite easing in prices. About a third of the offering was passed. Values were:— Good 4, 6 and 8-toothed 3-bred ewes 36/3 to 38/3; ordinary do. to 29/6; good 4, 6 and 8-toothed halfbred ewes to 35/9, ordinary 28/- to 29/6; inferior and aged crossbred ewes 13/- to 19/-; medium halfbred wethers 24/- to 26/-; ordinary to 23/-; ordinary 3-bred ewe hoggets to 25/3; wether hoggets vo 19/-; aged halfbred ewes and lambs (all counted) 11/-. Fat Sheep.—The entry of fat sheep was a heavy one for a normal sale. The offering, as far as quality was concerned, was on the mixed side, there being quite a proportion that did not come up to recent standards. The demand for these sorts was easier, though good heavy wethers showed but little change in values. Despite an over-all drop of about 1/- a head, the sale was a satisfactory one for vendors. Extra heavy prime wethers brought up to 53/3, heavy from 42/- to medium,- 35/- to 39/-; extra prime ewes to 42/1, prime 33/- to 38/-; medium 28/- to 32/-; prime hoggets to 39/10, light 22/- to 27/-. Fat Cattle: —The entry totalled 465. slightly less than a normal yarding. It included two or three lines from the North Island. The sale opened slightly easier, firmed a little, and then slipped back again, the drop in values averaging about 10/- a head. The quality was hardly as good as at recent sales. The prices per 100 lbs. were:—Best beef to 53/-, good 47/- to 51/-, medium 43/- to 47/-, heavy 42/6 to 45/-; good cow beef 40/- to 43/-, inferior down to 32/6, Extra heavy I prime steers realised up to £24/17/6, heavy prime £2O/10/- to £22/10/-, medium weight prime £lB to £2l; medium ! quality steers £l4 to £l7/10/-; extra prime heifers to £lB/17/6, prime £l4 I to £ls/15/-, ordinary £ll/15/- to £l3/15/-; extra prime cows to £2O/2/6, prime £l3/15/- to £ls/5/-, ordinary £ll to £l3/10/-.. Dairy Cattle:—The yarding was a large one, but condition showed up only moderately. For good cows and heifers near profit there was a satisfactory sale, but others were hard to dispose of. Best second and third calvers made up to £ls/10/-, others from £7/10/- to £l4, and heifers from £6 to £l4. Vealers: —A medium entry of vealers met with a keen demand. The best price of the day was £9/3/- for extra good 18-months sorts. Others brought from £5 to £B/10/-, and calves from 30/- to £4/2/6. Store Cattle:—Cows made up the bulk of a good-sized entry of store cattle. The sale was a keen one, particularly for a few straight lines of cows and heifers. Forward three-year to 3 a-year-old steers made up to £l2/10/-, cows to £B/4/-, and heifers to £7/8/6. Fat Pigs:—There was a keen de- | mand for baconers and porkers. Baconers made up to £5/19/6, porkers to £3/4/6, and choppers to £7. Store Pigs:—Store pigs sold keenly, weaners making from 18/- to. 22/-, and stores from 16/- to 34/-. BURNSIDE SALE. FALL IN PRICES FOR FATS. By Telegraph—Press Association. DUNEDIN, August 21. \ Although there was firm demand for 'most classes of fat stock at Burnside [ to-day, prices showed a noticeable deI cline for fat cattle and sheep. Pigs | met with a firm sale, and values showed I r, slight, advance. Good average quality bullocks, heiI fers and cows comprised a yarding of j 203 fat cattle. The entry included a few pens of extra choice medium cows. Demand was spirited for best animals, but prices declined by from £1 to £l/5/per head. Heavy bullocks sold at from £23 to £24. medium £l9 to £2O; heavy . heifers £ls to £l6/5/-, medium £l4 to £ls; heavy cows £l6/15/- to £l7/7/6, I medium £l4 to £.15/15/-. Prime ox beef 1 sold on a basis of about 56/- per 1001 b. There was a large yarding of sheen, I the entry comprising heavy medium ewes, and about 600 fine-wool animals,

also several pens of good hoggets. Demand was easier, and heavy wethers sold at a reduction of 1/- to 1/6 per head, and medium wethers of about 2/a head. The market for ewes was about the same as at thj previous sale, until towards the close, when prices showed a slight reduction. Extra prime wethers sold at 55/9 to 59/-, prime to 53/9, medium to 49/-; prime ewes made to 40/-, medium to 35/3. Prime mutton sold on a basis of about 7d per lb. The store cattle entry consisted of 150 head, chiefly cows and a few pens of bullocks. There was fairly good demand, and prices were about on a par with late rates. Three-year-old bullocks made up to £l4/13/-. Pigs.—The entry consisted of 102 fats and 29 stores. Prime baconers and porkers met with good competition, while stores also were in demand at satisfactory prices. Prime baconers sold on a basis of Bd, and prime porkers of about 73d lb. CHRISTCHURCH STOCK EXCHANGE. WEDNESDAY’S BUSINESS. (Special to the “Herald.”) CHRISTCHURCH, August 21. Sales on ’Change to-day were as follows: —Australian Bank of Commerce, 35/6 (3); Bank of Australia, £l4 8s 6d; National Bank of Australasia (£lO pd), £l9 13s; New Zealand Refrigerating (10/- pd), 6/11; New Zealand Breweries 83/6; British Tobacco, 48/- (5); Electro Zinc (pref. cum div.), 39/9 (2); Henry Jones Co-op. 33/9 (4); Mt. Lyell, 44/5; Mahakipawa, 4d (3); Winding Creek (6d pd), 1/9; Winding Creek (10/- pd), 1/9 (4), l/Bld (2) 1/9. Bales reported.—New Zealand Refrigerating (10/- pd), 7/-.

GRAIN AND PRODUCE MARKETS. POTATOES STILL FLUCTUATE. The seasonal quiet is still b<?ing experienced on the South Canterbury grain and produce markets, which are enlivened only by the fluctuations of potato prices. Oats, during the past week, have shown a decided tendency to firm. Potatoes:—Little further can be said in regard to the potato market. Before National week, they were quoted at £9/2/6, f.0.b.,5.i., but dropped to £B/15/-, f.0.b.,5.i., with little warning. With equal suddenness, the price advanced to £9/12/7, but this price was not obtainable yesterday, when the quotation was £9, f.0.b.,5.i., equivalent to £8 on trucks. Dakotas have not advanced in sympathy with whites, and for the first time for two or three years, they are quoted at less than whites, being valued at £7/15/- on trucks. However, there are very few Dakotas in South Canterbury, and this variety does not interest the farmer to nearly the extent that the whites do. An Auckland market report, referring to potatoes, and dated Tuesday, says: “Potatoes are very scarce on spot, and prices have again risen today. Merchants are having to pay up to £ll/15/- per ton, ex. ship, and the general wholesale price ex. store is £l2/10/-. The position is almost bewildering in its changeableness. Seed potatoes have firmed in sympathy with tables. Gamekeepers are now worth from £8 to £9 per ton, ex. store, but until the weather is more settled, the demand will not be great.”

Wheat:—Practically all wheat is now in store. Sales have been made at 6/4, f.0.b.,5.i., for Tuscan, and 6/7, f.0.b.,5.i., for Hunters. A few small lines of fowl wheat have been sold at 5/10 and 5/10i, f.0.b.,5.i. Oats:—The oats market has a firming tendency. There is still good demand for B. Gartons, at 3/6, f.0.b.,5.i. Dun oats are practically all cleaned up. Sales have been made at 4/8 to 5/-, according to quality. There is an occasional demand from the North Island for Algerians, at 3/6, f.0.b.,5.i. Melbourne was inquiring for oats, but ruling prices do not allow sufficient margin to ship. Chaff:—ln sympathy with oats, the chaff market has advanced. Values are from £4/12/6 to £4/15/-, on trucks, and the majority of this is going south. Linseed:—The linseed market has shown an improvement, and sales of “free” linseed have been made at £lB, f.0.b.,5.i. The market continues to have a firming tendency. Peas:—Occasional sales of partridge peas have been inade at 5/6, f.0.b.,5.i., but there is not a very great demand. A few sales of undergrade lines have been reported at 4/3, f.0.b.,5.i. Small Seeds:—All seeds have firmed, with the exception of cowgrass and crested dogstail. The commencement of spring sowing of grass seeds has created a good demand. The North Island also has come on the markeo. Ryegrass in is very short supply, and sales have been made at 6/6 and 6/8, f.0.b., sacks extra. Italian ryegrass also is in short supply, and sales have been made at 6/-, f.0.b., sacks extra. Very little is obtainable at this price. The market for cowgrass and crested dogstail is still quiet, with practically no inquiry except for local trade. Both lines are valued at from 6d to Bd, according to quality. White clover stocks are not very heavy, and there is practically nothing offering. They are nominally worth lOd for farmers’ dressed, good quality. Cocksfoot is firm, values remaining at 1/1 for Akaroa seed, with Plains quality quoted at a little less. CLEANING UP WOOL SALE. By Telegraph—Praia WELLINGTON, August 21. At the final cleaning-up wool sale of the season held yesterday the total offering of all brokers was about 5000 bales. As anticipated prices all round when compared with the last crutching sale held in June were considerably lower, the severest depreciation taking place on super and medium lines of both cross-bred and half-bred sorts. It was apparent from the commencement of the sale that only very limited orders were held by Canadian and Japanese buyers. Following is the range of prices:— Merino crutchings, 7d to Bd. Half-bred, 6,1 d to 10^d. Cross-bred super, lOd to 12d. Cross-bred medium to good, 8d to lOd. Crutchings, seedy, and bellies, 6j to 9hd. Locks and stained pieces 4d to 6d. RABBITSKIN SALE. The Otago Farmers’ Co-operative Association held their fortnightly sale of rabbitskins to-day, before a full bench of buyers, when a large catalogue was offered. Competition was keen on all grades, and prices showed a rise of from 2d to 5d lb. all round. As compared with last sale, winter skins advanced by 2d to 5d per lb., while off-season and low-grade skins were in good demand, with prices showing a rise of Id to 2d lb. The auctioneers quote:—Small 232 d, summer broken 31d, milky 453 d, summer does 35d, summer bucks 35d, runners 373 d, light racks 481 d, racks 48d, dawny autumn 48d, early autumn 521 d, second late autumns 483 d, late autumns 601 d, second incoming 52d, incoming 773 d, second early winter does 61 Id, second early winter bucks 55d, first early winter does 85Jd, first early winter bucks 881 d, spotty bucks 543 d, spotty does 72d, second winter bucks 70id, second winter does 941 d, first winter bucks 1083 d, first winter does 115*d, prime bucks llOld, prime does 123 d, outgoing bucks 463 d, outgoing does 561 d, spring bucks 423 d, spring does 461 d, rack blacks 44d, incoming blacks 51 Id, early winter blacks 55d, first winter blacks 731 d, summer fawn 501 d, autumn fawn 76d, winter fawn Hid, first hareskins 56d, hareskins 421 d, hair 18id. THE SHAREMARKET. By Telegraph—Press Association. AUCKLAND, August 21. Sales on ’Change.—War Loan, 1933, hi per cent, £lOl/12/6; New Zealand Breweries (debs.) £l/8/3 (three sales); Bank of New South Wales, £52 (three i sales); Commercial Bank of Australia, £l/9'6 (two sales); North Auckland Farmers’ Co.-op. (ord.), 3/2; Taupiri Coal. £l/9/10; New Zealand Breweries, £4/4/6 Waihi. 12/2; Mt. Lyell, £2/5/-. WELLINGTON. August 21. Sales Reported.—Goldsbrough Mort and Co.. £2/8/3; Dunlop Rubber Co., £l/9/3; Amalgamated Wireless, £l/10/-; East African Coffee, £2/0/6. DUNEDIN. August 21. Sales Reported.—Staples Brewery, 54 6 (two); Queensland National Bank, £9/11/6 (ex. div.)

LATEST QUOTATIONS. Buyers. Sellers. £ s. d. £ s. d. N.Z. Government Debentures — Ah p.c. Inscr., 1938 and 1939 . . . 99 15 0 — Al p.c. Bonds, 1930 99 7 6 99 15 0 Ah p.c. Bonds, 1938 99 17 6 — 4 h p.c. Bonds, 1941 99 17 6 — 5} p.c. Inscr., 1932 99 12 6 — 5t p.c. Inscr., 1941 99 12 6 — p.c. Inscr., 1933 99 12 6 — 5h p.c. Inscr., 1933 101 7 6 — 51 p.c. Bonds, 1933 101 7 6 — 5i p.c. Inscr., 1936 101 15 0 — 5$ p.c. Bonds, 1936 101 15 0 — 5h p.c. Bonds, 1930 — 101 0 0 Other Debentures— N.Z. Breweries (inscr) 1 8 0 1 8 5 Do. (Bonds) .... 1 8 0 1 8 5 Glaxo, 6h p.c. 1945 92 0 0 — N.Z. Refrig. 6i p.c. 1935 100 2 6 101 0 0 Banks— Aust. of Com. . 1 15 6 1 15 10 Comm, of Aust 1 9 4 1 9 6 Do. (pref.) .... 7 6 0 7 10 0 Comm, of Sydney . 26 2 6 26 < 6 E.S. and A. . . . 8 5 0 8 8 0 Natl, of Aust. (£10 pd.) . . . — ] 9 14 0 Do. (£5 pd.) . . . 9 11 0 9 14 0 Natl, of N.Z. . . . 6 17 6 7 0 0 N.S.W. (cum div.) 52 0 0 52 5 0 New Zealand . . . 3 3 5 — Do. (“D” mort shares) 1 8 0 1 10 0 Queensland Natl. 9 12 6 — Union of Aust. . . 15 1 6 15 2 0 Insurance— A.P.A 13 0 0 — National 0 16 2 0 16 4 Queensland .... 3 3 0 — South British . . 3 6 0 3 7 3 Loan and Agency Dalgety & Co. . . 15 2 6 15 4 0 Goldsbrough Mort. 2 8 1 2 8 4 National Mortgage 4 6 0 4 6 6 N.Z. Guar. Corpn. 0 9 6 0 9 8 United Building Society .... 0 15 4 0 15 9 Shipping— Huddart, Parker 2 6 3 2 7 0 Do. (pref.) . . . . — 1 3 0 P. and O. def. stk . 2 15 3 — Frozen Meat— Canterbury Cold ex div) 0 8 5 — Do. (pref. ex div.) 4 18 0 5 2 0 N.Z. Refrig (£1 pd) 0 15 0 0 15 9 Do. (10/- pd) . . 0 6 11 0 7 0 North Canterbury Freezing .... 0 17 0 1 1 0 Woollens— Kaiapoi (17/- pd) 0 14 0 0 14 3 Do. (7/- pd) . . . 0 5 0 0 5 3 Do. (pref.) . . : . 0 15 6 0 17 0 Coal— Taupiri 1 8 0 1 10 0 Westport 1 13 0 — Stockton (ord.) . — 0 3 3 Do. (pref.) — 0 4 9 Grey Valley .... 1 6 2 1 6 9 Gas— Christchurch . . . 1 6 0 1 6 9 Do. (10/- pd) . . . 0 13 0 0 13 6 Timaru 1 5 c Breweries — Carlton 2 7 9 2 8 3 Foster’s — 4 0 0 Monteith’s .... 1 0 0 — New Zealand . . . 4 4 3 4 4 6 Staples 2 14 0 2 14 5 Timaru 0 16 0 0 17 0 Do. (5/- pd) . . . 0 8 7 0 8 9 Tooth’s 2 15 9 2 16 3 Ward’s 1 9 0 1 12 6 White Star . . . — 0 12 6 Miscellaneous— Aust. Distilleries 1 1 0 1 2 3 Aust. Iron and Steel (pref.) 1 2 0 1 2 9 Beath and Co. . . 1 12 0 1 12 3 Do. (1/- pd) . . .• 0 9 3 0 9 6 British Tobacco 2 7 11 2 8 0 Burns, Philps . . 2 7 3 — Colonial Sugar . . 56 10 0 57 10 0 Electro Zinc (ord cum div.) . . . 1 19 0 1 19 6 Do. (pref cum div.) 1 19 6 1 19 9 Dunlop Rubber 1 8 8 1 9 3 Greater Crystal Palace .... 1 1 0 — Henry Jones Co-op 1 13 8 1 13 10 Holden's Motors (cum div.) . . . 1 8 0 1 8 6 Howard, Smith . . — 1 4 9 Mt. Lyell 2 4 4 2 4 6 N.Z. Farmers’ Coop. (£2/10/- pd) — 1 2 0 N.Z. Farmers’ Coop. (10/- pd) . . 0 3 1 0 4 6 Do. ("A” pref.) 3 8 6 3 10 0 Do. ("B” pref.) 3 0 0 3 3 0 Do. (6i p.c. stk, 1940) 91 0 0 93 10 0 Do. (6i p.c. stk. 1945) 91 0 0 93 0 0 N.Z. Farmers’ Fertilizers . . 1 2 6 1 3 3 N.Z. Paper Mills 1 0 2 1 0 6 N.Z. Sugar of Milk (pref.) — 0 19 0 Quill, Morris . . . 0 17 3 0 18 0 Taranaki Oil . . . 0 3 9 — Victoria Nyanza Sugar (cum div) 2 7 10 2 8 0 Wilson’s Cement . 2 4 4 2 4 9 Mining— Kildare 0 4 10 0 5 2 Kawarau 0 0 3 0 1 0 Mahakipawa . . . 0 0 2 0 0 3i Okarito 0 1 9 0 2 0 (prem) Winding Creek (6d pd) 0 1 9 0 1 10 Do. (1/- pd) . . . 0 1 9 0 1 9i North Broken Hill 5 10 0 —