COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 18615, 10 July 1930, Page 13

COMMERCIAL.

METROPOLITAN STOCK MARKET. DRAGGING SALE FOR STORES. By Telegraph—Press Association CHRISTCHURCH, July 9. The feature of the weekly market at Addington yesterday was the inclusion In the fat cattle entry of 130 head of steers from the North Island. That was the third consignment brought down this winter, and like the others, were attractive, prime, heavy cattle. They sold fairly well, despite the fact that the market was an irregular one. There was little alteration in the basis of values, as compared with last week. There was a very small entry of store sheep, and their sale was a dragging one with little alteration in values. Entries of fat lambs are decreasing in numbers each week now, and yesterday’s entry, of 765 head was the smallest to date. They sold fairly well at late rates, although lighter sorts were a little easier. Fat sheep were forward in large numbers again, and over an irregular sale the basis of values vras on a par with those ruling at last week’s market. However, the sale closed firmly at advanced rates. Store Sheep.—There was a very small entry—the smallest of the season, and the quality was indiflerent. There was an easier tone about the market, and the sale was a dragging one, with little alteration in values. Extra good four-tooth Corriedale ewes made up to 31/9, good two-tooth Corriedale ewes to 25/9, s.m. halfbred ewes to 15/11, ordinary 4, 6 and 8tooth halfbred ewes 13/6 to 16/-, good sm. S-bred ewes to 20/10, aged ewes 6/3 to 7/9, good ewe hoggets to 16/1, ordinary hoggets 11/- to 13/6, wether hoggets 5/- to 8/-, m.s. hoggets to 9/3. Fat Lambs.—ln an entry of 765, compared with 1355 last week, the majority were light sorts, and these showed a slight decline in value. Prime sorts sold well. Values were:— Extra prime lambs to 31/10, prime lambs 25/- to 28/-, medium 21/6 to 24/6; store lambs 14/- to 17/-. Fat Sheep.—The entry was 4700, compared with 4250 at last sale. The West Coast and South Canterbury were represented. The sale was very irregular, and there was a decline in values over the early stages, especially for heavy ewes, but later prices recovered, and were in advance of last week’s rates at the end of the auction. On an average, the basis of values ruling last week was unaltered. Values were:—Extra prime wethers to 33/10, prime 26/- to 29/-, medium 22/to 25/-, show ewes to 29/7. extra prime ewes 22/6 to 25/6, prime 19/- to 22/-, medium 15/- to 18/-. Fat Cattle.—An entry of 425 head, compared with 445 last week, included 130 head from the North Island, all prime heavy-weight sorts, and they sold well. The sale on the whole was an irregular one, but there was little change in the basis of values. Best handy-weight steer and heifer beef made from 38/6 to 41/- per lOOlbs (in the case of a few odd pens early in the sale a little above that figure); best heavy-weight beef from 33/6 to 36/6, medium quality beef from 31/- to 34/6, good cow beef from 30/- to 33/-; extra prime heifers to £ls/2/6, prime £9/15/- to £l2/10/-. medium £7/5/- to £9/10/-, extra prime cows to £l4/15/6, I prime £9/10/- to £l2, medium cows £7 to £9. Vealers.—There was again a limited entry in this section, and as a result, I the sale was a very keen one, with the high prices of last week fully maintained. The top price was £lO/11/-, compared with £9/13/6 at last : market, and £6/18/6 the week before. I Store Cattle.—From the point of view of both numbers and quality, the offering in the store cattle pens was an exceptionally poor one, and there was very little to interest graziers. There were no steers and no yearlings, the entry consisting chiefly of rough cows. The best cow price was £6, paid i for an animal that originally was consigned to the fat pens. There were a few potting bulls forward, and the best of these made up to £B. Dairy Cattle.—There was a small yarding of 52 head, ; id the general quality was poor. Top price for the sale was £l4/15/- for a Shorthorn cow o naccount of Mr C. Hamilton (Tai Tapu). For the quality sorts, the sale was on a par with late rates, but cows in profit and backward sorts were hard to quit. Values were:—Extra good second and tliird calvers to £l4, £ls, good second and third calvers £ll to £l3, medium second and third calvers £8 to £lO/10/-; good heifers to £9/15/medium heifers £8 to £9, others £6 to £7. Fat Pigs.—The entries, in the fat pig pens were considerably larger than they were at the previous sale, but everything sold firmly throughout on a basis of recent ruling values. Prices were:—Choppers £4 to £6/15/-, extra heavy to £ll/1/-, porkers 47/6 to 56/6 heavy porkers 58/6 to 73/6 (average per lb 81d to 9!d); baconers £3/14/6 to £4/17/6, heavy baconers to £5/14/6 (average 7&d to Bid). Store Pigs.—Store pigs were in rather short supply, and they met keen competition from a fair muster of buyers. Large sorts were wanted Values were:—Large stores 30/- to 38 6, medium stores 26/- to 28/-, small stores 20/- to 25/-, weaners 14/6 to 20/-, small weaners 8/- to 12/6.

BURNSIDE SALE. PRICES FIRM EXCEPT FOR FAT SHEEP. By Telegraph — Press Association DUNEDIN, July 9. Fat sheep, owing to heavy supplies, were cheaper at Burnside to-day, but the market for fat cattle improved considerably. Fat lambs remained firm at late rates, and the**e was little change in prices for store cattle. Pigs were slightly cheaper. There was an entry of about 186 head of fat cattle, comprising good average quality sorts, with a small proportion of prime heavy bullocks. The market dpened prom 1 singly, and values generally showed ah improvement of from 10/- to 15/- per head. Light sorts and anything unfinished were firm at late ratec. Best heavy . bullocks were worth up to £22, prime to £lB. medium to £ls. and light from £lO uwards. Frime cows and heifers made to £l3 17s Gd, medium to good £lO to £l2, and light and aged from £7.

The store cattle yarding was very ordinary, comprising very mixed quality. Values were generally on a par with those ruling at last week’s sale.

There was an average yarding of fat sheep, numbering about 1800 head, comprising a large proportion of prime quality ewes and medium wethem, with a few pens of extra heavy wethers. Competition was keen for the latter class at slightly advanced rates, but medium wethers were easier. Heavy ewes were in over-supply, and met with indiflerent competition, prices being easier by from 2/- to 3/per head compared with those at last sale. Best .prime heavy wethers made to 45/-, prime to 36/-, medium to 27/-, light from 19/-; extra prime young

ewes to 33/-, prime to 22/-, medium to 15/-, and light and aged from 9/-. There was only a small yarding of fat lambs, including some pens of nice quality. Competition was good, and prices were on a par with those ruling at the last sale. Extra prime were worth to 25/-, prime to 24/-, and light : and medium from 13/- to 19/-. Competition was keen in the pig section, but values showed a slight easing. RABBIT SKIN SALE. The National Mortgage and Agency Co.. Dunedin, report that at the fortnightly sale of rabbit skins the bulk of the catalogues comprised good winter skins, and for these prices ruling were on a par with those at the last sale. The following prices were obtained at auction:—Small sd, runners 12id, light racks 18d, prime racks 170, summers 13d, dawny autumns 202 d, early autumns 23id, seconds 18id, autumns 36, second autumns 24, incomings, Ist 553 d, do. 2nd 273 d, do. 3rd 233 d, Ist early winter bucks 603 d, 2nd do. 29d, Ist early winter dobs 43id, 2nd do. 283 d, prime winter bucks 77d, do. does 65d, Ist bucks 743 d, Ist does 60d, 2nd bucks 473 d, 2nd does 403 d, spotted i bucks 313 d, spotted does 28id, Ist winter broken 253 d, winter broken I 213 d, Ist black 36d, black 263 d, fawn 758 d, outgoing bucks 20d, outgoing does 29d, 2nd does 24id. GRAIN AND PRODUCE MARKETS. GOOD INQUIRY FOR WHEAT. A good deal of wheat has been moving during the past- week at various prices. Tuscan seems to have been arousing most inquiry, and the latest quotation is 6/4 ex store. Hunters and Velvet are nominally worth 6/6 ex store. The price for fowl wheat has gone up to the extent of one penny, the price now being 6/1 f.o.b. This class of wheat has been inquired for fairly extensively, and the bulk is being bought to the order of northern operators. B Garton oats are quoted at 3/8£ f.0.b., s.i., and A’s at 3/101 for prompt lines. Forv/ard A’s are worth 3/11, with buyers offering 3/10i. Forward B’s are quoted at practically Uie same price. Although there seems *to be a shortage of Gartons, the demand is very poor, and most of the oats going to Auckland on consignment are meeting with disappointing sale. In a ! good many cases oats in Auckland can be bought cheaper than local supplies, when freight and storage charges are taken into consideration. From Timaru to Christchurch, there are not many lines offering. Duns have been inquired for, and buyers are offering 5/-, most lines on sale being quoted at 5/3. Algerians are in short supply, and are quoted when only an odd line comes on to the market.

A few sales of chaff have been made, but most of these are from Lyttelton at £7 f.o.b. s.i., equal to £5 7s 6d on trucks, se.

Linseed does not show any improvement, ,the price remaining at £ls on trucks.

A fair amount of ryegrass has been changing hands, but there is not now a great quantity available, and it looks as if the supply will be short if there is a good demand for spring ! sowing. The same applies also to j Western Wolths and Italian. A few ! lines of cocksfoot have changed hands i at lid to l/0i for machine dressed. | Very little white clover is offering i and prices range from lOd to lid. There is not as much cowgrass ' offering as last year, but there are fairly heavy stocks on hand. Unless there are outside inquiries, it looks as ii the market will not improve to anyl extent. Present quotations are from I 5d to 6d per lb. . Inquiry for potatoes is a little better, but prices have not improved. ; Prompts are worth £4 15s f.0.b., s.i. I equal to £4 on trucks. July’s are quotea

at £5, equal to £4 5s on trucks; I August’s are inquired for at £5 5s and i odd sales have been made at that figure; August-September are quoted at £5 12s 6d. A few shipments are j going north, but there is nothing like j the quantity shipped last year. A j recent Auckland report states that ample stocks continue to become available, and consignment lots on top j of f.o.b. purchases coming up with . each boat, are an effective check on ! any effort to boost prices. It seems : that there is little chance of this i market hardening to any great extent over the next few weeks. The first new , potatoes of the season were offered at | the city markets recently, and sold readily at 2d to 33d per lb. It is expected that regular supplies will be I arriving from the northern districts in | a few weeks, but they will be only in small consignments and will not have any effect on the market. The local product is not expected to be ready till October.

GERALDINE STOCK SALE. j There was only a small stock sale at 1 Geraldine yesterday. Prices were as follows: Store sheep—3 lambs at 19/-, 15 at 14/9, 8 ewes at 11/-, 25 do. at 9/7, 3 do. at 8/-, 7 at 9/-, 14 at 14/-, 6 lambs at 10/-, 42 do. at 13/-, 45 at 8/3, 406 at 11/8, 102 ewe lambs at 17/1, 32 do. at 16/2, 30 cull ewes at 4/-. Fat lambs: 49 at 16/3, 23 at 15/1. Fat wethers—9 at 24/4, 25 at 14/-. Cattle.—Springing cow at £9 15s. Pigs.—s at 11/6, 3 at 10/6, 2 at 17/-, 3 at 13/6. LONDON WOOL SALES. United Press Association—By Electric Telegraph—Copyright LONDON, July 8. At the wool sales 9056 bales were offered, including 2288 bales of New Zealand wool. Approximately 3660 were sold. There was an inferior and miscellaneous selection, largely of secondhand lots. There was a crowded attendance, but the tone was somewhat depressed and biddings were cautious. Prices, compared with May closing rates, were: Merinos, super, firm, unchanged; good average combings 5 per cent, easier; faulty, 7i per cent.; crossbred, greasy, 7i per cent.; slipes, half-breds, 10 per cent.; other sorts 7h per cent.; lambs, shorn and carbonising sorts, neglected, 5 per cent, to 7& per cent. New Zealand greasy lots sold as follows: “CET” (top price lOd), average 93d.

CHRISTCHURCH STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. (Special to the "Herald.’') CHRISTCHURCH, July 9. The following quotations were current on ’Change to-day:— Buyers. Sellers.

THE DAY’S BUSINESS. Sales on ’Change.—Australian Bank of Commerce, 23/6, 23/1; E.S. and A. Bank, £5/19/9; National Bank of New Zealand (cum. div.), £5/18/6; Goldsbrough Mort., 28/10; N.Z. Refrigerating (10/- paid), 4/10; New Zealand Breweries, 51/- (2); Holden’s Motors. 10/-; Mt. Lyell, 24/7; Mt. Lyell (rights), 2/10 (2); Mahakipawa, 2d; Stoney Creek (6d paid), sd. Sales reported.—N.Z. Government 4i per ceflt. inscribed, 1938, £99/10/-; Australian Bank of Commerce, 23/6; Bank of New Zealand, 57/3; Dalgety and Co., £lO/15/-; Union Bank of Australia (late sale Bth), £ll/13/-; New Zealand Breweries, 50/9; Bank of Australia, £l2/6/6. THE SHAREMARKET. By Telegraph—Press Association AUCKLAND. July 9. Sales on ’Change.—Auckland Gas (1935) 6 h per cent. £lO2 (2); Commercial Bank of Australia, 21/1; New Zealand Insurance 47/-; Dominion Investment and Banking, 20/-; Newton King | pref. (late sale Tuesday), 11/7; New) Zealand Guarantee Corporation, 8/-; Renown Collieries (new pref.), 2/8 (late sale Tuesday). 2/8; Auckland Gas, 26/-; Northern Steamship, 14/9; Robinson Ice Cream, 25/6; Waihi Grand Junction, 2/-; Mount Lyell (rights), 3/-; South British Insurance, 59/3. WOOL AND SKIN SALE. DECLINE IN WOOL VALUES. A sale of wool and skins was held 1 yesterday in the National Mortgage Coy.’s land room in Stafford Street. 1 There was a good attendance of 1 buyers, including Continental and 1 Bradford operators. A total of 361 bales and bags was offered, and while most of the lot catalogued were quitted 5 under the hammer, the prices showed a decline of approximately a penny a * pound. Only isolated lots created 1 what might be termed spirited bidding. Among the best prices obtained ) were:— i Halfbred fleece, 9id. Threequarter-bred fleece, Bid. ) Fine 3-bred, 83d. Merino fleece, Bd. I Crossbred fleece, 7id. ) Halfbred and 3-bred fleece, 83d. Halfbred dead, 71d. ) Halfbred dingy, 78d. > Lambs’ fleece, 73d. 1 Dead, 73d. ) Halfbred crutchings, 63d. Corriedale crutchings, 6£d. 1 Threequarter-bred fleeces, 6d. ) Merino pieces, 73d. ) Halfbred and 3-bred fleeces, 63d. Pieces, 58d. ) ) SKINS AND HIDES. A sale of skins was held immediately ) after the wool sale, when some 14,000 were offered and sold. The prices ) realised showed a 10 per cent, decline on the l|st Timaru rates.

£ s. d. £ s. d. N.Z. Government Debentures — 45 p.c. Inscr., 1938 99 5 0 — 45 p.c. Inscr., 1939 99 5 0 — 45 p.c. Bonds, 1930 99 12 6 — 45 p.c. Bonds, 1938 99 5 0 — 45 p.c. Bonds, 1939 99 5 0 — 45 p.c. Bonds, 1941 99 5 0 — 55 p.c. Inscr., 1932 98 7 6 — 55 p.c. Inscr., 1933 99 0 0 — 55 p.c. Bonds, 1933 99 7 6 — 55 p.c. Inscr., 1936 99 5 0 — 5i p.C. Bonds, 1936 99 5 0 — 55 p.c. Inscr., 1937 — 99 10 0 Other Debentures — North Canty. Hospital Board, 53 per cent., 1940 99 10 0 100 10 0 Glaxo, 6i p.c., 1945 90 10 0 93 0 0 N.Z. Refrig., 6i p.c., 1935 . . . 93 0 0 96 0 0 3isbome Sheep, 75 d po - 1931 . 80 0 0 90 0 0

Banks— Adelaide ..... 6 15 0 Aust. of Com. . . 13 0 1 3 3 Australasia .... 12 6 0 Comm, of Aust. . . 1 0 10 111 Do. (pref.) .... 6 11 6 6 12 0 Comm, of Sydney 19 12 6 20 2 6 E. S. and A 6 0 0 6 0S Natl, of Aust. (£10 paid) 14 7 6 14 9 0 Do. (£5 paid) . . . 7 0 0 7 1 0 Natl, of N.Z. (cum. div.) 5 15 0 5 18 6 New South Wales . 38 2 6 38 7 6 New Zealand . . . 2 17 4 2 17 7 Do. (“D” Mort. shares) .... 1 7 3 Queensland Natl. . — 6 12 6 Union of Aust. . . 11 12 0 11 13 6 Insurance — A.P.A 0 6 9 0 7 9 Mercantile Mutual 14 0 1 4 9 National 0 13 9 0 14 6 N.Z. (cum. div.) . 2 6 6 2 7 6 South British . . 2 19 0 — Standard ..... 2 14 6 3 0 0 Loan and AgencyDalgety and Co. . 10 13 0 11 0 0 Goldsbrough Mort. 18 4 18 8 Mutual Benefit . . 12 0 0 — National Mortgage (£1 paid) . . . 1 11 0 N.Z. Guarantee Corpn. ..... 0 7 10 0 3 0 Shipping — Huddart Parker . . 1 18 0 1 19 0 P. and O. Deferred Stock 2 0 0 - Frozen Meat— N.Z. Refrig (£1 paid) 0 10 0 0 11 3 Do. (10/- paid) . . 0 4 9 0 5 2 North Canterbury Freezing . . . - 0 2 3 Woollens — Kaiapoi (17/- pd.. — 0 13 0 Do. (7/- paid) . . 0 4 3 0 4 7 , Mosgiel 6 10 0 — Coal— | Grey Valley . . . 12 9 15 0 j Stockton (ord.) .. — 0 2 6 ' Westport 1 11 6 — ; Do. (pref.) . . . 0 3 9 1 Gas — ] Christchurch . . . 15 9 16 0 Do. (10/- paid) . . 0 12 7 0 13 0 , Timaru 113 14 0 Breweries — Carlton ...... 1 12 0 1 Fosters — 3 10 0 ' New Zealand . . . 2 10 7 2 11 0 i Staples 2 6 3 2 6 8 | Timaru 0 14 0 — i Do. (5/- paid) . . 0 5 10 0 7 0 i Tooheys 10 6 — i Tooths 1 11 10 1 12 2 | Ward 0 10 0 0 11 9 White Star .... — 0 14 0 1 Miscellaneous — Allied Motors . . . 0 0 10 0 16 Australian Glass . 1 16 0 — Aust. Distilleries . 0 19 6 1 0 9 Beath and Co. . . — 1 10 0 Booth, Macdonald (pref.) . . . . 0 3 6 0 5 0 British Tobacco .. 1 16 11 1 17 2 Dunlop Perdriau Rubber . . . . 0 13 4 0 13 9 Electro Zinc (ord. cum. div.) . . . 10 4 1 0 11 Do. (pref.) . . . . 13 6 1 3 10 , Eclipse Petrol (£1 paid) 0 13 6 0 15 0 Do. (15/- paid) . . 0 10 9 0 12 6 Holden’s Motors . 0 9 11 0 10 1 Howard, Smith . . 0 10 0 0 17 0 Kauri Timber . . 0 13 9 — Mt. Lyell 14 6 1 4 7 Do. (rights) . . . 0 2 9 0 2 10 N.Z. Drug Co. . . . 3 3 0 3 5 0 N.Z. Farmers’ Coop. (10/- paid . 0 0 9 Do. (1st pref.) . . 4 0 0 Do. (B pref.) , . . 2 10 0 Do. (6i. p.c. Stock 1939) 76 0 0 80 0 0 Do. 6h p.c. Stock, 1940) 76 0 6 84 0 0 N.Z. Farmers’ Fertiliser (cum. d.) 10 8 l 4 » 0

North Canty Co-op. Flour 0 12 0 0 14 6 Quill, Morris . . . — 0 13 9 Victoria Nyanza Sugar — 2 0 Whitcombe and Tombs 3 5 0 3 10 0 Wilson’s Cement . — 2 4 0 Mining;— Kawarau 0 0 3 0 0 6 Mahakipawa . . . 0 0 15 0 0 2 Mt. Isa — 0 19 6 Okarito 0 6 8 0 7 9 Stoney Creek (6d paid) ' .... 0 0 5 0 0 6 Waihi 0 14 1 0 14 4 Winding Creek (1/paid) 0 0 3 0 0 8 Do. <6d paid) . . 0 0 2 0 0 4 Cornish Point (1/paid) 0 0 65 0 0 75 Placer Development 1 18 0 2 1 0