COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18510, 6 March 1930, Page 7

COMMERCIAL.

ADDINGTON STOCK SALE. BEEF PRICES RECOVER. By T‘'«nirh- Press Association CHRISTCHURCH, March 5. At the weekly metropolitan market at Addington to-day, beef values recovered the fall of last week’s market, steer values advancing by £1 to £l/10 - a head, and cows and heifers by £1 to £l/15/- a head. The only other notable features were slight easings in both the store lamb and fat lamb sections. Fat sheep sold very firmly at slightly advanced rates. Store lambs.—The entry was a little lighter, but values easier on an average by 1/- to 1/6 a head. Best rape lambs made up to 22/6. good 20/- to 21/6, medium 16/- to 19/-; backward wether lambs 11/- to 15/-, cull and small lambs to 9/-; best e.s. lambs to 21/-, medium to good 15/- to 19/-, ordinary 9/- to 12/6; good crossbred ewe lambs to 20/-, medium 2-bred ewe lambs to 17/4. Store sheep.—A very heavy entry included sheep from Nelson, Catham Islands, West Coast, and the North Island. The sale was a little dragging for anything but best quality stuff, but values remained practically on a par with those of last week. Values were: Extra good four-tooth Romney ewes to 35/6, good 2-tooth Romney ewes 30/to 31/-; good four, six and eight-tooth Romney ewes 26/- to 28/6, ordinary 22/3 to 24/6; good sound-mouthed Romney ewes to 24/-, ordinary 17/to 19/-; good two-toothed half bred ewes 27/- to 30/-, medium 25/- to 25/6, ordinary 23/- to 24/6; ordinary 4, 6 and 8-tooth halfbred ewes 19/- to 22/-, backward 13/- to 17/-; soundmouthed halfbred ewes 16/- to 18/-, s. and f.m. halfbred ewes 12/6 to 15/6, aged halfbred ewes 6/- to 9/-; good two-tooth 2-bred ewes to 30/-, ordinary 6 and 8-tooth 2-bred ewes to 22/6, ordinary two-tooth crossbred ewes to 25/-, medium 6 and 8-tooth crossbred ewes to 24/6, good sound mouthed crossbred ewes 19/- to 20/-, good four-tooth Romney wethers 23/6 to 26/-, ordinary two-tooth halfbred wethers to 19/-, good sound-mouthed halfbred wethers to 20/-.

Fat lambs.—The entry totalled 2920 head. Prices were easier by 1/- a head, the average per lb being 8d to Sid. Show lambs brought up to 34/4, extra prime to 31/7, prime 26/- to 29/-, medium 23/- to 25/-, light 19/- to 22/6.

Fat sheep.—The entry filled 10 races and quality was good. Over an irregular sate values were firm at last week’s rates, with a firming of 1/- a head in the case of ewes and betterclass wethers. Values were.—Extra prime wethers to 36/10, prime 31/- to 33/-, medium 27/- to 29/-, light 21/6 to 26/-; extra prime ewes to 30/7, prime 22/- to 25/-, medium 19/- to 22/-. Fat cattle.—The entry totalled 356 head, compared with 490 head last week. The quality was mixed, but as a result of the short supply prices increased by £1 to £l/10/- a head for steers, and by £1 to £l/5/- a head for cows and heifers. Best medium-weight prime beef made from 41/6 to 45/- per 1001 b, medium weight 37/- to 40/-, heavy steer 36/6 to 39/6, good cow to 37/6. Values were:—Extra heavy prime steers to £2l/12/6, heavy prime £l7 to £l9/10/-, medium weight prime £l4 15/- to £l7/10/-, ordinary £ll/10/- to £l4/5/-; extra prime heifers to £l6 12/6, prime £l2 to £l4/5/-, ordinary £9/10/- to £ll/15/-; extra prime cows to £l6/17/6, prime £l2 to £l3/10/9. medium £9 to £ll/5/-.

Vealers.—The entry of vealers was smaller than last week, with calves in short supply. Butchers’ sorts sold at prices equal to late rates. The top price was £ll. Dairy cattle. —In an entry of 75 head (compared with 45 last week) the quality was good, and values showed an increase on late rat J. Best second and third cal vers made up to £l7, good £l4 to £ls/10/-, others £7/10/- to £l3; best heifers to £l6, good £l2 to £l4, medium £lO to £ll.

Store cattle.—The j'arding of store cattle was the fullest for some time. One big line was sent down from St. James station, Hanmer, and attracted a lot of attention. They were wellbred Hereford steers, ranging in age from two to four years, and the 90 of them sold at from £9/1/- to £l2/18/6. A line of 18-months heifers brought £5/5/-, and mixed sex calves sold at from 54/- to 59/-. A line of 19 18months steers fetched £5/15/-.

Fat pigs.—There was a large yarding of porkers, and only a medium entry of baconers. Pork sold well up to last week’s rates, with bacon a little easier. Choppers brought £3/10/- to £B/13/6, porkers £2/10/- to £3/12/6 (average per lb 9d to 9*d); baconers £4 to £6/1/6 (average 7*d to Bfd). Store pigs.—A short entry was offered, but prices recorded a decline on last week's sale. Large sorts were scare. Values were:—Stores 26/- to 43/-, slips 24/- to 25/6, weaners 16/- to 24/-.

BURNSIDE SALE. VALUES SLIGHTLY EASIER. Telegraph—Pre*?? Association. DUNEDIN, March 5. Values generally were a shade easier at the Burnside sale to-day. The fat sheep entry numbered 1560, the bulk of which were only fair to

medium in quality, although there were one or two pens of good wethers. Values were lower than was the case last week. Good wethers made up to sid, prime ewes to 4d, and other sorts in the vicinity of 3id per lb. Best wethers were worth up to 33/6, and light half-breds from 22/6 to 27/-. Good prime ewes made up to 27/-, and the rest from 18/- to 21/-. There was an average yarding of lambs, with quality moderate. Best sorts brought up to Bd. and light and unfinished were worth 7id. The quality in the fat cattle pens was good, but the larger entry (208 head) and the good supply of quality, made buyers very _ discriminating, and as a result the sale was slower than might have been expected. The decline in values amounted to about 20/per head for best quality stuff, while lighter sorts remained firm. Best bullocks made up to £22 10s, and cows and heifers showing quality were worth from £ll to £l3. Best prime bullock beef made 47/6 per 1001 b, light 44/-, heifer 40/-, and cow 35/-. The store cattle entry was medium in quantity and quality, and there was a very fair sale. Pigs were forward in fair numbers, there being 70 fats and 83 stores. The sale was a good one throughout, with keen inquiry for all good lines. Prices were in the vicinity of 9d to lOd per lb.

COMMERCIAL BANK NEW ISSUE. By ToWraph—Pros* Association. WELLINGTON, March 5. Advice has been received by the Commercial Bank of Australia from Melbourne to-day that the new issue of 500,000 ordinary shares of 10/- each to the present shareholders of the Bank, has been largely oversubscribed. The shares, which have been issued at £1 (a premium of 100 per cent.), have been distributed amongst the present shareholders throughout Australia and New Zealand, a large number being taken up in the Dominion. When the above shares are fully paid up at the end of the present year, it will increase the paid up capital of the Bank to £4,117,350, and the reserve fund to £2,500,000.

FAIRLIE SALE. The fortnightly stock sale was held at Fairlie on February 4, and saw a representative gathering of the farming community and others interested in pastoral pursuits. There were 3500 sheep penned, of which number 1150 were fat sheep. Current market prices were realised for all stock, and there were very few lots passed in. These were the prices obtained: — Fats—Lambs, 31 at 21/4; 66 at 23/-; 22 at 23/4; 13 at 22/3; 4 at 20/3; 7 at 22/9; 42 at 23/6. Fat Ewes—l 7 at 13/-; 16 at 17/3; 10 at 16/4; 11 at 16/-; 16 at 18/6; 33 at 17/-; 9 at 14/-; 5 at 17/-; 12 at 15/4; 16 at 15/3; 10 at 18/-; 9 at Fat Wethers—B at 21/3; 5 at 26/10; 7 at 28/-; 16 at 26/9; 8 at 25/3; 26 at 23/1; 18 at 25/6; 10 at 28/-; 18 at 26 8; 15 at 23/6; 21 at 23/9; 62 at Stores—Wethers, 32 f. and f. at 22/6; 46 at 16/4. Ewes, 57 at 7/6; 263 4, 6 and 8-tooth at 22/-; 51 2-tooths at 24/1. Lambs, 43 at 16/9; 25 at 18/-; 51 wethers at 18/9; 70 at 15/3; 110 m.s. at 17/7; 140 at 12/2; 83 at 16/7; 20 at 17/-; 79 ewes at 18/-; 151 wethers at 15/4; 252 at 18/-; 126 f. and f., m.s. at 20/2. SOUTH CANTERBURY GRAIN AND PRODUCE MARKET. LITTLE MOVEMENT RECORDED. The amount of grain and produce that is at present being handled by the merchants in South Canterbury is the smallest for several years. Buyers appear to be only purchasing just what they want for their immediate needs, and are aiming to avoid having big stocks on hand if prices fall. This year there has been less wheat moving at the start of the season than there has been for some years. This is partly due to the condition of the grain, some of which is in indifferent condition in South Canterbury. Local millers have bought a fair amount of old wheat from the Pool, and this has to some degree tended to fill up the mills. It is understood that there is to be a shipment of wheat from Timaru within the next week or two. A few lines have been bought by millers from other districts, notably Oamaru and Ashburton, and the samples received from these places have been of excellent quality. At the present time, milling wheat is still worth 5/9, on trucks, for Tuscan. 6/for Hunters, and 6/2 to 6/3 for Velvets. Fowl wheat is hard to sell at 5/9 for “prompt.” this price being equal to 5/4 to 5/5, on trucks, to farmers The oat market is showing a slight decline this week in prices offered, A. grade Gartons bringing 3/11, f.0.b.,5.i., equal to 3/5, on trucks, and B's. 3/9 for “prompts,” equal to 3/3, on trucks. There is, however, still a good demand for Dun oats, prices paid being from 4/6 to 4/9, on trucks, according to quality. Owing to the high prices reigning locally for Algerians, the demand has slackened off, North Island buyers not being prepared to buy at these prices. Nominally Algerians are worth 3/3, on trucks, but sales have been made at up to 3/6 and 3/7. The ryegrass market has gone back slightly, owing to the quantities that have been offering from the south: 27-28 seed has been quoted at 6/7, on trucks. Western Wolths and Italian prices have dropped a little, samples this week bringing 6/- to 6/2, f.o.b. There is still no inquiry for potatoes from the North Island, the quotation for these, as well as for all kinds of barley, being unchanged from last week.

CHRISTCHURCH STOCK EXCHANGE. WEDNESDAY’S BUSINESS. (Special to the “Herald.”) CHRISTCHURCH, March 5. The following transactions were recorded on ’Change to-day:— Sales on ’Change.—Australian Bank of Commerce, 24/8, 24/9; Commercial Bank of Australia, 21/7 (2), 21/8, 21/6; Commercial Bank of Sydney, £2l/5/(2); Union Bank of Australia,* £l2; Goldsbrough Mort, 30/11; New Zealand Refrigerating (£1 paid), 12/- (2); New Zealand Breweries, 81/-, 80/9; White Star Brewery, 15/9; British Tobacco, 41/3 (3), 41/3; Dunlop Rubber, 17/6; Mt. Lyell, 32/3, 32/2 (2), 32/3; Wilson’s Cement, 38/9 (2). Sales Reported.—Australian Bank of Commerce, 24/8; Commercial Bank of Australia, 21/7, 21/8; New Zealand Insurance, 43/6; Gear Meat, 38/3 (2); New Zealand Refrigerating (£1 paid), 12/- (2); British Tobacco, 41/3 (3); Dunlop Rubber, 17/6; Mt. Lyell, 32/3; Wilson’s Cement, 38/9.

LATEST QUOTATIONS.

Buyers. Sellers. £ s. d. * s. d. N.Z. Government Debentures— 4i p.c. Inscr., 1938 — 98 2 6 4i p.c. Inscr., 1939 — 98 2 6 5.', p.c. Inscr., 1941 — 98 2 6 5 :\ P.C. Inscr., 1933 — 99 0 0 5i p.c. Inscr., 1933 99 0 0 — p.c. Bonds, 1933 99 5 0 —

5} p.c. InGCr., 1933 96 0 0 99 0 0 5 h p.c. Inscr., 1936 — 99 10 0 5* p.c. Bonds, 1936 99 5 0 — Other Debentures— Palmerston North 8 p.c.. 1949 —. 96 10 0 Booth. Macdonald 6 h p.c., 1932 .. 70 0 0 87 0 0 Banks— Aust. of Commerce 1 4 6 14 9 Australasia (cum div.) 11 15 0 12 3 0 Comm, of Aust. .. 1 1 5 1 1 6 Comm, of Sydney. 21 2 6 21 5 0 E.S. & A 6 8 6 6 10 6 Natl, of A/asia (£10 paid) — 15 4 6 Do. (£5 paid) . . . . 7 1 0 7 5 0 National of New Zealand .. .. 5 19 0 6 0 0 New South Wales. 39 17 6 40 5 0 New Zealand .. .. 2 16 9 2 17 6 New Zealand “D” Mort Shares .. — 18 0 Queensland Natl. . 7 14 0 7 17 6 Union of Aust. .. — 12 0 0 Insurance— National 0 14 0 0 14 3 A.P.A 0 4 6 0 6 9 New Zealand .. .. — 2 4 0 United 8 5 0 — Loan and Agency Dalgety and Co... 11 7 6 11 9 6 Goldsbrough Mort. 1 10 8 1 10 10 National Mortgage 3 2 6 3 11 0 N.Z. Guarantee Corporation 0 8 2 0 8 3 N.Z. Loan and Mercantile (ord. stock) — 100 0 0 Shipping— Huddart, Parker (pref. cum. div.) — 116 P. and O. Deferred Stock 2 8 0 2 13 6 Union (pref.) 10 0 — Frozen Meat— Canterbury (pref.) — 4 9 0 Gear 1 17 0 1 19 0 N.Z. Refrigerating (£1 paid) .. .. 0 11 9 0 12 0 (10/- paid) 0 5 5 0 5 9 Woollens — Kaiapoi (7/- paid) 0 3 0 0 3 7 Coal— Grey Valley . . .. 1 6 01 — Westport — 1 10 6 Stockton (ord.) .. Oil 0 2 0 Gas— Christchurch . . .. 15 8 1 5 11 Christchurch (10/paid) 0 12 1 0 12 8 Timaru 13 0 14 6 Breweries— Carlton 1 13 6 1 14 9 New Zealand .. .. 4 0 10 4 10 Staples 2 5 0 2 8 0 Timaru — 0 15 9 Timaru (5/- paid) 0 6 0 0 7 6 Tooths 1 15 0 1 16 0 White Star .. .. 0 15 0 10 0 Miscellaneous — Allied Motors . . . — 0 3 0 Australian Distillery — 0 18 0 Australian Glass . — Aust. Iron & Steel (pref.) — Beath and Co. (1/paid) 0 6 10 0 7 6 Booth. Macdonald (pref.) 0 4 0 0 6 0 British Tobacco .. 2 12 Colonial Sugar .. — Dunlop Rubber .. 0 17 4 Electro. Zinc. (ord. cum. div.) .. .. — 17 3 Ditto (pref. cum. div.) 16 0 17 3 Henry Jones Co-op 18 6 Mount Lyell .. .. 1 12 4 N.Z. Drug Co. .. 3 10 0 3 13 0 N.Z. Farmers’ Coop. (10/- paid) 0 0 6 0 2 3 N.Z. Farmers' Coop. (1st pref.) .. — 4 2 0 N.Z. Farmers’ Coop. ("A" pref.) 2 7 0 2 14 0 N.Z. Farmers' Coop. ("B" pref.) 2 13 0 2 17 0 N.Z. Farmers’ Coop. (6i per cent. Stock, 1939) 86 0 0 N.Z. Farmers' Coop. (6* per cent. Stock, 1945) 86 0 0 90 0 0 N.Z. Paper Mills.. 0 19 6 — Quill, Morris .. .. 0 13 0 Victoria Nyanza Sugar 1 18 6 1 19 6 Whitcombe & Tombs — Wilson's Cement .. 1 18 8 Mining— Mahakipawa .. .. 0 0 1 Stoney Creek (6d paid) 0 0 4 Winding Creek (6d paid) 0 0 4 Waihi Grand June tion 0 1 0 0 19 IN OTHER CENTRES. By Telegraph—-P ess Association. AUCKLAND, March 5. Sales Reported. —Inscribed Stock (1938). 41 per cent, £97/10/ ; Commercial Bank of Australia, 21.6, 21.7 (two sales); Commercial Bank of Australia (pref.), £6,10/-; New Zealand Insurance, 43/6; Westport Coal, 30 6; 6; Colonial Sugar, £44: Wilson’s Cement, 38/6 Mount Lyell, 32/6. WELLINGTON, March 5. Sales Reported — New Zealand Government, 4i per cent stock £97/17/6. Sales 'Change--Leyland O’Brien Timber, £1/8/6; British Tobacco (ord.), (2). £2/1/3; Commercial Bank of Australia (ord.), £1/1/62, £11/6; National Bank of New Zealand £6; Gear Meat Co., £1/18/3; Mt. Lyell Mining, £1/12/3, DUNEDIN, March 5. Sales Reported.— New Zealand Paper Mills, 19/6; Bank of New Zealand, 57/1 (two).