COMMERCIAL.

Timaru Herald, Volume CXXV, 17 July 1930, Page 7

COMMERCIAL.

METROPOLITAN STOCK SALES. PRICES UNCHANGED AT ADDINGTON. By Telegraph—Press Association CHRISTCHURCH, July 16. There were few changes in the basis of values at the weekly market at Addington to-day, compared with the last market. Again there was a big line of North Island steers forward, and also lines from the West Coast and Southland. The sale was an irregular one, .and plain beef was easier, but there was a good demand for prime sorts, and little alteration in values. The store sheep entered filled only a few pens, and their sale was on the same basis, of values as those which ruled last week. The entry of fat lambs was also very small, but those entered sold very well, with competition keen. There was an easier tone in the fat sheep market, but no quotable change in values. Store Sheep.—The smallest yarding of the winter filled only a dozen pens. The basis of values was on a par with that ruling last week. Medium ewe hoggets made up to 15/2, ordinary wether hoggets 7/- to 10/4, good soundmouth crossbred ewes to 19/5, ordinary s.m. halfbred ewes to 12/3, ordinary 4 and 6-tooth halfbred ewes to 17/3, aged ewes to 4/-. Fat Lambs.—An entry of 235 head sold very firmly, with competition keen throughout. Fat Sheep.—The entry was 5200 head, with a bigger proportion of wethers than for some time. The sale was irregular, and although the basis of values was almost the same as at last market, there was an easier tone apparent throughout. Values were:— Extra prime wethers to 33/4, prime wethers 25/6 to 28/6, medium wethers 22/- to 25/-; extra prime ewes to 26/7, prime ewes 19/- to 22/-, medium ewes 15/- to 18/-, aged ewes 9/- to 11/-. Fat Cattle.—An entry of 438 heS,d, included over 60 from the North Island, and lines from the West Coast and Southland. Prime handy weight beef sold at late rates, but plain beef was distinctly easier. Best handy weight steer and heifer beef made from 38/6 to 41/- per 1001 b, and in the case of a few odd pens a little above that figure; best heavyweight steer beef brought from 33/- to 36/-, medium quality beef from 31/- to 34/6, good cow beef from 30/- to 33/-, secondary to 28/-. Values were:—Prime heavy steers £l6/10/- to £lB/12 6, prime medium weight steers £l2/15/- to £l6, medium quality £9US'- to £l2/5/-; extra prime heifers to £ls/17/6, prime £lO/5/- to £l2/15/-, medium £7/15/- to £9/15/-, light £6 to £7/10/-, extra prime cows to £l4/17/6, prime £7/5/- to £9/5/-. Vealers.—For a small entry the sale was a keen one, with prices little changed. Top price was £9/1/-. Store Cattle. —Prices showed little alteration. The yarding was slightly bigger than last week’s, but apart from a line of 20 young cows of good colour there was nothing outstanding offered. This line made up to £4/15/-. Eighteen months to two-vear-old steers sold at up to £2/11 and yearling cal vers up to 35/-. There were a few potting bulls forward, and these made up to £6/8/-. Dairy Cattle.—There was an entry of 61 head, with quality poor. Values were a little easier than was the case at last week’s market. Values were:— Good 2nd and 3rd calvers £lO to £l2 medium 2nd and 3rd calvers £8 to £9/10/-, others £2/15/-. to £7; good heifers to £9/10/-, medium £7 to £B, others £5 to £6. Fat Pigs.—For a small yarding of porkers, the market was a little easier. Choppers were in short supply. Baconers sold very firmly. Values were:— Porkers £2 10/- to £3 14 6 (average 9d to 10d>; choppers £4'3/6 to £9/18/6. baconers £3/15 '6 to £5 9/6 (average 7id to Bid).

Store Pigs.—A small yarding sold at prices fully up to late rates. Values were:—Large stores 32/- to 41'-. medium 25/- to 30'-. small 22/- to 24/6; slips 18 - to 20/-. best weaners 16/- to 18/6, other's 8/- to 14/6. BURNSIDE SALE. FAT STOCK IN KEEN DEMAND. By Telegraph—Press Association DUNEDIN. July 16. Fat sheep met a keen sale at Burnside to-day, and most classes sold at higher rates. Fat cattle showed a little improvement in price, while lambs remained firm at late rates. There w r as more activity in the pig section, and baconers and porkers sold at advanced rates. There was an entry of 247 fat cattle, comprising fair to good quality, with a sprinkling of prime bullocks, and a number of medium steers and well-

finished heifers. The market opened at prices on a par with late rates, but became slightly weaker as the sale progressed. Prime heavy bullocks sold at £2l, medium to £lB 15s; heavy heifers to £l3 15s, medium to £ll 15s; heavy cows to £l4, medium to £ll ss. Prime ox beef sold on a basis of about 41/- per 1001 b.

The fat sheep entry totalled 1309 head, and consisted of very mixed quality. There were a few extra heavy sorts, and a small supply of good finewool wethers and a large proportion of fair to prime ewes. There was good demand for butchers’ wethers, which sold at an advance of about 1/- a head; while good ewes improved by from 1/6 to 2/6 per head. Mixed sheep were firm to a shade better. Prime heavy wethers sold up to 45/9, prime heavy ewes to 31 6.

There‘was an entry of 471 lambs of mixed quality, with a few prime sorts. The sale was a very satisfactory one. Prime lambs made up to 26/6. medium to 19/6, unfinished sorts to 18/-.

Store cattle. —The entry was much smaller than usual. only fifty head being offered. The yarding consisted of medium cows and steers. There was fairly good demand at prices which showed no change. Three-year-old steers sold at up to £lO 7s 6d, yearlings to £5, cows to £6 10s. The pig entry comprised 54 fats and 24 stores. Competition was keen, and baconers and porkers sold at an advance of fully 7/6 per head. Store pigs also sold well, the advance being about 5/- per head. GRAIN AND PRODUCE MARKETS. TEMPORARY RISE IN POTATOES. A feature of the local markets during the week has been the moving off of several lines of wheat, and the sudden rise in white table potatoes to the extent of half a crown a ton. In the wheat market, Tuscan is very firm at 6/4i to 6/5 ex-store, while Velvet and Hunters are difficult to dispose of except at Hunters prices. Fowl wheat is still being quoted at 6/1 f.0.b., and supplies are gradually being cleaned up. There is a demand also for all undergrade lines of wheat at from 5/11 to 6/-. Oats are moving fairly freely. A’s are quoted at 3/11 for AugustSeptembers, prompts at 3/10D. B’s are offered at 3/9 for August-Septembers. and 3/85 for prompts. There is a fair demand locally for feed oats, but there is no great surplus offering. The majority of local oats are in merchants’ hands. Duns are still inquired for, and good dark are quoted at 5/3 to 5/4 f.o.b.s.i. As far as Algerians are concerned there is nothing offering locally, but it is understood that sales have been made for machine dressed at 5/6 to 6/-, according to quality. Although the chaff market is firm there is very little inquiry, and prices are round about £5 7s 6d on trucks, sacks extra.

Very little is doing in the linseed market, and sales can be made only on the basis of £ls on trucks.

A few inquiries are coming to hand for peas for feed purposes, this no doubt being due to the high price of fowl wheat. Feed lines are worth up to 4/6 to 4/8, f.o.b.s.i.

Ryegrass is steady, and sales have been made at 6/6 to 6/9 on trucks at Gore. Stocks held are not heavy. Very little is doing in Italian and Western Wolths, although the market is firm and the price remains at 6/9. The cowgrass market is practically lifeless, and values to farmers are from 5d to 6d. Very little white clover is offering, and odd inquiries are meeting with 1/2 for machine dressed. On Monday and Tuesday, white table potatoes i .creased in price by 2/6 per ton, but yesterday the market sagged back to £4 ss, on trucks to farmers. July’s are quoted at £5 2s 6d f.0.b.5.i., with no buyers, and AugustSeptembers at £5 12s 6d with no inquiries. It is understood that heavy shipments go north from Timaru by the Waimarino and Wingatui, and these, no doubt, will have some effect on the Auckland market. Dakotas are usually about 2 6 to 5/- per ton above whites at this time of the year, but Wellington has advised that the quality is not as good this season, and buyers are showing preference for other lines.

LONDON WOOL SALE. The National Mortgage and Agency Co. report having received the following cable from their London office under date 14th. inst.:— The wool auctions are proceeding at the level of the opening day. with good competition from the Continent for best Merinos. The following prices are current: — Merino, super, to 14d; average, lid to Hid. Fine haifbred, super, 56 to 58’s, 12id to 13id; average llid to 12d. Medium halfbred, super, 50 to 56’s, 12d to 12kl; average, lid to llid. Coarse halfbred. super. 48 to 50’s, lid to 12d; average, lOid to lid. Fine crossbred, super, 46 to 48’s, 105 d to lid; average, lOd to 10id. Medium crossbred, super, 44 to 46’s, 10d to lOld; average, Sid to 10id. Coarse crossbred, super, 40 to 44’s, lOd to 105 d; average 9id to lOd. Low crossbred, super, 36 to 40’s, 10id; average 9d to 9id. Pieces, 7d to Sid. / Bellies, 65d to Bd. Locks, 35d to 4id. As at present arranged the sales will close on 25th inst. CHRISTCHURCH STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. (Special to the “Herald.”) CHRISTCHURCH, July 16. The following quotations were current on ’Change to-day:— N.Z. Government Debentures — Buyers. Sellers.

THE DAY’S TRANSACTIONS. Sales on ’Change.—Commercial Bank of Australia (cum. div.>, 21/3 (4); Commercial Bank of Sydney. £l9/14/-; E. S. and A. Bank, £5/19/6; Union Bank of Australia. £1 10/-; Christchurch Gas, 25/9; British Tobacco, 36/9, 36/8; Mt. Lyell, 24/-; Mahikapawa, 2d (2). Sales reported.—Commercial Bank of Australia (cum. div.), 21/4. 21/2, 21/4; Union Bank of Australia, £ll/I©/- (2); Mt. Lyell, 24/-. THE SHAREMARKET. By Telegraph—Press Association. AUCKLAND, July 16. Sales on ’Change: Government Bonds (1933) 51 per cent. £9B/10/-; Commercial Bank of Australia 21/3; Devonport Steam Ferry 23 6; Taranaki Oil 2/4; Waihi Gold Mining 14/- (3); Mount Lyell 24/- (2); do. rights 2/4.

£ s. d. £ s. d. 46 p.c. Bonds, 1938 99 10 0 — 4L- p.c. Bonds, 1939 99 10 0 — 56 p.c. Inscr., 1933 99 7 6 — 56 p.c. Bonds, 1933 99 7 6 — 56 p.c. lnsrr., 1S36 99 5 0 — 56 p.c. Bonds, 1936 99 5 0 — 56 p.c. Inscr., 1937 99 T 6 — 51 p.S. Bonds, 1937 99 10 0 ““ Other Debentures— Glaxo. 6i p.c.. 1945 90 0 0 92 0 0 N.Z. Refrigerating 66 p.c., 1935 91 10 0 96 0 0 Gisborne Sheep, 76 p.c., 1931 .... — 90 0 0 Banks — Adelaide 6 12 0 6 15 6 Aust. of Commerce 1 2 6 1 2 9 Australasia .. .. 12 0 0 12 5 0 Commerce of Aust. (cum. div.) 1 1 2 1 1 3 Ditto (pref.) .. .. 6 11 6 6 15 0 Comm, of Sydney 19 12 6 19 15 0 E., S. and A 5 19 3 5 19 9 National of A/asia • (£10 paid) .. .. 14 6 6 14 7 0 National of A/asia (£5 paid) .. .. 7 0 0 7 0 6 National of New

Zealand (cum. div.) 5 16 0 5 18 0 New South Wales 36 5 0 35 17 6 New Zealand .. .. 2 16 6 2 17 3 Do. <“D” Mort. shares) 1 7 0 — Union of Aust. .. 11 9 0 11 10 0 Insurance— A.P.A — 0 7 9 New Zealand (cum. div.) 2 7 0 2 7 4 South British .. .. 2 18 6 3 0 0 Standard — 3 0 0 United 8 0 0 — Loan and AgencyDalgetv and Co. . . 10 11 0 10 18 6 Goldsbrough Mort. 1 7 0 1 7 4 N.Z. Guarantee Corporation 0 7 10 0 8 1 United Building Society .... 0 15 3 Shipping:— P. and O. Deferred Stock 2 2 0 2 6 0 Frozen Meat— Canterbury (pref.) 3 15 0 4 5 0 Gear — 1 18 0 N.Z. Refrigerating (£1 paid) .. .. 0 10 1 0 11 1 N.Z. Refrigerating (10/- paid) 0 4 8 0 5 1 Woollens— Kaiapoi (17/- pd.) 0 11 6 0 12 11 Do. (7/- paid) . . 0 4 3 — Coal— Grey Valley . . . 1 2 6 — Westport 1 12 0 1 14 0 Stockton (ord.) 0 1 0 0 2 0 Do. (pref.) , . . . 4 2 3 Gas— Christchurch . . . i 5 0 1 6 0 Do. (10/- paid) . . 0 12 8 0 12 11 Timaru ..... 1 1 3 — Breweries— Foster’s — 3 10 0 New Zealand . . . 2 9 6 2 10 0 Staples 2 4 6 2 6 0 Timaru — 0 14 0 Do. (5/- paid) . . 0 6 0 0 6 9 Tooheys — 1 0 3 Tooths 1 9 8 1 10 2 White Star .... — 0 14 0 Miscellaneous— Amalg’ted. Wireless (contr.) . . — 1 1 0 Aust. Distillery . . 0 19 9 1 0 6 Beath and Co. . . — 1 10 0 Do. (1/- paid) 0 6 0 0 7 0 British Tobacco .. 1 16 7 1 16 9 Dunlop Perdriau Rubber 0 12 10 0 13 1 Electro Zinc (ord. cum. div.) . . . 1 0 0 1 0 6 Do. (pref., cum. div.) 1 3 9 1 4 2 Holden’s Motors .. 0 9 9 0 10 0 Kauri Timber . . . — 0 14 0 Mt. Lyell 1 3 11 1 4 0 Do. (“rights”) . . 0 2 4 0 2 6 N.Z. Drug Co. . . 3 2 6 3 5 6 N.Z. F a r m e r s’ Co-op. (B pref.) — 2 9 0 Do. (63s p.c. Stock, 1939) .... 75 0 0 80 0 0 Do. (6?j p.c. Stock, 1945) 75 0 0 — N.Z. F a r m e r s’ Fertiliser .... — 1 1 3 Nth. Canty. Co-op. Flour — 0 15 0 Taranaki Oil . . . 0 1 9 0 2 9 Wilson’s Cement . 1 18 6 2 2 3 Blenheim Oil . . . 0 12 0 2 0 0 Consolidated Brick — 1 0 0 Mining— Alexander .... 0 12 0 Kawarau .... 0 0 4 0 0 bh . . . 0 0 3h 0 0 5 Okarito 0 6 10 0 7 4 Stoney Creek (6d paid) 0 0 4 0 0 6 Waihi — 0 14 0 Waihi Grand Junetion 0 i 8 — Winding Creek (Is paid) 0 0 3 — Do. (6d paid) . . 0 0 1 0 0 2 Cornish Point (1/paid) .... 0 0 3 0 0 9