COMMERCIAL.

Timaru Herald, Volume CXXV, Issue 16639, 7 August 1930, Page 13

COMMERCIAL.

ADDINGTON NATIONAL MARKET. HIGH PRICES FOR BEEF AND PORK. By Telegraph—Press Association. CHRISTCHURCH, August 6. To-day’s stock sale at Addington yards was a Grand National “double” market, which is noted for the fine offering of fat stock, and this year saw the general standard well maintained, with the exception perhaps of the fat sheep yarding, which did not include the same proportion of Show sheep as has been the case in some previous years. A feature was the fat cattle yarding, which drew entries from Wanganui, Palmerston North, Wairarapa, West Coast, Otago and Southland. A heavy sou’-west storm and accompanying heavy rain throughout t'-e day did not make conditions at favourable. Fat cattle sold very c.eely, and apart from the fancy prices v-iid for Show beasts, the market was £1 to £2 a head better for all classes than it was last week. The fat sheep entry was scarcely as big as that of last week, and \/as not sufficient to meet butchers’ requirements for the coming fortnight. The sale was an irregular one, and consequent upon the short supply, values firmed by 1/to 2/- a head for both classes. The fat lamb entry was the largest for many weeks, and the sale was a good one at slightly advanced rates. There were 31 spring lambs entered, but they were not outstanding in quality. The store sheep sale was a relatively unimportant section of the market, and it attracted very little interest. The chief feature of the minor sections was the very high price paid for porkers, which were in short supply. Most of the sales were made on a basis of lid to 1/- a lb, the highest price known at Addington for about 30 years. Store sheep.—There was a small entry, but prices showed no alteration on recent values. The range of prices ”was: —Medium two-tooth halfbred ewes to 20/6, sound-mouthed halfbred ewes to 15/6, failing-mouthed ewes 8/- to 12/6. ordinary ewe hoggets to 16/-, medium halfbred wethers to 15/-. Fat lambs.—There was an entry of 747, compared with 181 last week. Competition was free for best sorts. There was also a good demand for lighter lambs, but in this class there was no advance in prices. Top price was 33/4. Spring lambs.—There were 30 spring lambs forward, and top price for them was 34/4, equivalent to a shade over 1/- per lb. Fat sheep.—An entry of 5400 head included a line from Woodville, and a large number of southern consignments. Values were:—Show wethers £2 to £4/5/-, extra prime wethers to 38/-, prime 27/- to 31/-, medium 23/to 26/6; extra prime ewes to 29/-, prime 19/6 to 22/-, medium 16/- to 18/-. Fat cattle.—An entry of 555 was not as big as usual for a “double” market. A very free sale resulted, and values for be§tf, excluding show cattle, were better by £1 to £2 a head than at the last market. The top price for the market was £44. Best handy-weight steer and heifer beef made from 44/to 48/- per 1001 b, and in some cases a little more than that amount; best heavy-weight steer beef from 38/6 to 42/-, medium quality from 35/- to 38/-; best cow beef 36/- to 38/-. Values were:—Show steers to £44, extra prime heavy steers to £24, prime heavy £lB/10/- to £2l, prime medium weight £ls/10/- to £lB/5/-, medium quality £ll/10/- to £l4/10/-; show heifers to £lB/2/6, extra prime heifers to £l6/17/6, prime £l3 to £ls, medium £lO to £l2; show cows to £23/10/-, extra prime cows to £ls/17/6, prime £l2 to £l4, medium £9 to £ll.

Vealers.—ln a very small entry the general quality was poor. The top price was £B/13/6. •. Store cattle.—There were no quotable lines in the store cattle pens, in which the yarding was very small. Good cows were worth up to £5, and the few bulls offered sold at usual potting rates. There were no steers penned. Dairy cattle.—Quality was not prominent in the entry, which was of average size. The market was a little weaker, prices receding by about £1 a head. Cows just calved and in good condition were wanted. Good second and third calvers made £lO to £ll, medium sorts £8 to £9; good heifers £9 to £lO, medium heifers £7/10/- to £B/10/-, others £5/5/- to £7. Fat pigs.—Peak prices were paid for the pork entry, which was a small one, even though there was a consignment of over a 100 porkers from the North Island. Baconers were in average supply, but the market for these was by no means as spirited as it was in the porkers’ pens. Prices showed little alteration. The range of prices was:— Show choppers to £l4/3/6, good choppers £6 to £B/18/6, others £2 to £5/16/6; porkers £2/12/6 to £3/12/6, heavy porkers £3/15/- to £4/7/6 (average per lb lid to 1/-); baconers £4 to £4/10/-, heavy baconers £4/15/- to £5/18/6 (average 7*d to 8d). Store pigs.—There was a poor sale for store pigs, which were yarded in small numbers. Medium stores made 25/- to 35/-, slips 16/- to 18/6, weaners to 13/6. BURNSIDE MARKET. A DULL SALE. 8y Telegraph—Press Association. DUNEDIN, August 6. A larger yarding of fat cattle caused a slight depression in values at the Burnside sales to-day, when the first few races were offered, but towards the close prices firmed up to last week’s level. In the fat sheep section there was a dull sale, but prices remained for the most part unchanged. A poor entry of lambs met with an indifferent sale. Pigs met with a good demand. There were 244 head of fat cattle, comprising mostly good quality sorts, with a large proportion of turnip cattle in excellent condition. Owing to the heavier entry, values at the outset were fully 30/- and £2 below last week’s level, but as the sale progressed values firmed considerably until they were equal to those offering at last sale. Extra prime heavy bullocks made up to £23/17/6, prime heavy to £l9 and £2l/10/-, prime to £lB, and lighter sorts from £l3 to £ls; extra prime heifers to £l6, prime cows to £l4/2/6, and light sorts from £7/10/- to £ll. There was only a small entry of store cattle, cows and heifers being in short supply, and steers little better. There was a slack demand with no great alteration in values. Only 1423 head of fat sheep found their way to the sale, compared with over 3500 last week. The sale was unpromising from the start, suggesting that some butchers must have been holding over supplies from last week’s heavy penning. The quality was fair, the entry including some nice wethers and good ewes. The demand was slack, and there was little variation from last week’s values. Prime wethers I

were worth from 30/- to 36/-, medium sorts to 29/- and light from 21/- to 25/-; extra prime heavy ewes made 23/- to 27/-, medium 15/- to 18/-, and' light from 11/- to 14/-. There was a small entry of 240 fat j lambs, of only fair quality. Exporters j took anything showing quality atj schedule rates. A very short entry of fat pigs met with keen demand, and values can be quoted as 5/- per head better than those ruling at last week’s sale. SOUTH OTAGO FREEZING WORKS. By Telegraph—Press Association. DUNEDIN, August 6. The South Otago freezing works at Finegand were definitely closed for the season to-day. The total of sheep and lambs put through for the season was 278,299. easily a record for the works. The next best total was that of last year 157,296, which is 121,003 fewer than this year. The strike at the beginning of the season was almost a blessing in disguise for the Company, j at it attracted a great deal of publicity and caused farmers to give support. Shareholders hope that a dividend will ! be paid. GRAIN AND PRODUCE. SOUTH CANTERBURY MARKETS. The rain of the past few days considerably brightened the prospects for the coming harvest. Ploughing operations have been considerably hampered on account of the hard and dry state of the ground, but this branch of the work should now proceed uninterdid, the outlook for the coming harvest ruptedly. But for rain coming when it would not have been too bright. Wheat.—Stocks of wheat are gradually getting lower, and there is every indication that there will be a shortage of good milling Tuscan. This is now nominally worth 6/5, or possibly Id more. A few sales of Hunters and Vel- i vets have been made at 6/6 and 6/8, 1 ex store. Now that Tuscans are im- ! proving, no doubt there will be more i inquiry for Hunters and Velvets. Fowl j wheat is still being sold at 6/2 f.o.b. The inquiry for seconds and under- : grades continues. Oats.—The market for Gartons has firmed again, and sellers are now ask- j ing 3/11 for A’s. Prompt B’s are still | quoted at 3/Bi, the price asked for i August being 3/9. Buyers, however, are still showing preference for undergrade and cheap lines. Locally, stocks of oats are not heavy, and in some instances oats from Dunedin have been railed to Timaru and Christchurch. Had there been any outside inquiry, the market, no doubt, would have firmed a good deal. It is understood that there are a good many lines of consignment oats, for which buyers are not procurable. There should be a fair demand for seed lines locally in the near future. Odd sales of Duns have been made at 5/- and 5/3. Linseed.—This market remains practically the same as last week, the price being £ls on trucks, sacks extra, for f.a.q. Chaff.—There has been little altera- ; tion in chaff, the price being about £5/5/- to £5/7/6 for good bright. Odd lines are going to the southern portion of the North Island, but Auckland is mainly supplied with Tasmanian, j which is £1 cheaper than the South j Island.

Potatoes.—The potato market is lifeless, and it is difficult to secure orders. Orders that have been secured have been at £4/12/6 to £4/15/-, f.0.b.5.i., which is equal to £4 on trucks. Sales have been made at both these figures. A feature of the market is that Dakotas are not being inquired for nearly as much as last year. Last year they were 5/- a ton above whites, but in some cases this year they have been 5/below.

Seeds.—There has been a good demand for ryegrass, but stocks are now getting within small compass. Any lines of reasonably heavy seed, 27/28, are bringing as high as 6/11 on trucks at Gore. Lighter lines are bringing 2d to 3d less. There seems to be less stocks of Italian and Western Wolths than for some time, but if an inquiry sets in, the market will probably harden.. Present prices are 6/9 to 6/10 for both lines. Akaroa cocksfoot is quoted at l/oi, and Plains seed Id to id less. Though there has not been much cowgrass seed saved in this district, there is still a good carry over, and farmers are now inclined to take the market price, which is 5d to 6d per lb.

CHRISTCHURCH STOCK EXCHANGE. AFTERNOON CALL. (Special to the “Herald.”) CHRISTCHURCH, August 6. The iollowing changes in quotations were made on ’Change this afternoon: Buyers Sellers

THE DAY’S BUSINESS. Sales on ’Change.—Union Bank of Australia, £lO 15s; Dalgety and Co., £lO 2s (2); N.Z. Refrigerating (10s paid), 4s lOd; Tooths Brewery, 295; British Tobacco, 37s Bd. 37s 7d, ‘37s 8d: Colonial Sugar, £3B 10s, £37 17s 6d; Mt. Lyell, 22s lid; Taranaki Oils, 2s 3d. Sales reported.—National Bank of New Zealand, £5 14s 9d; New Zealand, 56s lAd. THE SHAREMARKET. j By Telegraph—Press Association. AUCKLAND, August 6. Sales on ’Change.—Bank of Australia, 21s 4d; Do. (pref.), £6 12s; Bank of New Zealand, 565; Do. (D Mort), 275; Union Bank, £lO 16s (Melbourne register), £lO 15s; Renown Collieries (new pref.), 2s 8d; Auckland Gas, 245; New Zealand Breweries, 50s 3d; Milne and Choyce (debenture stock), 25s Gd; Waihi Grand Junction, 2s (2): Mount Lyell, 23s 3d; Do. rights, Is 3d (2). DUNEDIN, August 6. Sale on Change.—Waihi Grand Junction., Is lid. Sale reported.—National Bank, £5 14s.

SOUTHLAND BREWERIES, LTD. The statutory meeting of Southland Breweries, Limited, was held in Invercargill last week, when shareholders representing 10,530 shares were present at the meeting. The report states that 20,623 shares have been allotted. It was resolved that the number of directors be limited to seven, four being appointed in the meantime. The followi:|g are the personnel of the new directorate: Messrs M. M. Roche, G. A. Wraytt, E. L. Macassey and E. Lyon. The auditor appointed was Mr C. E. Borne. F. solicitor, Mr F. G. O Beirne; bankers, the Bank of New Zealand; secretary, Mr E. Lyon. The shareholders expressed approval satisfactory position as placed beiore them by the provisional directors. At the directors’ meeting held subsequently, it was resolved that rebuilding operations be commenced immediately. Various plans for a new brewery were submitted, but it was decided to obtain an expert’s advice as to the most modern methods of brewing and as to the latest and scientific appliances prior to embarking on a large expenditure.

£ s. d. £ s. d. N.Z. Government Debentures— 4ss p.c. Inscr., 1938 99 12 6 99 15 0 4£ p.c. Inscr., 1939 99 10 0 — 4£ p.c. Bonds, 1930 99 10 0 — 4 h p.c. Bonds, 1938 99 12 6 — 44 p.c. Bonds, 1939 99 12 6 — 5i p.c. Inscr., 1933 99 5 0 — 54 p.c. Bonds, 1933 99 5 0 — 5£ p.c. Inscr, 1936 99 5 0 — 54 p.c. Bonds. 1936 99 5 0 Banks— Comm, of Aust. (cum. div.).. .. 1 1 2 1 1 3 E., S. and A 5 17 0 5 17 6 National of A/asia (£10 paid) 14 2 6 14 4 0 Do. (£5 paid) ... . 6 18 6 6 19 0 New South Wales (cum div) ... . 36 12 6 36 17 6 New Zealand . . . 2 15 11 2 16 2 Queensland Natl. . 6 5 0 6 15 0 Union of Aust. ... 10 13 6 10 14 0 Insurance — A.P.A 6 3 0 6 9 New Zealand (ex. div.) 2 1 6 2 3 0 Queensland . . . 2 0 0 2 9 United 8 0 0 Loan and Agency Dalgety and Co. ... 10 1 0 10 10 0 N.Z. Guarantee Corporation 0 7 9 0 8 0 Permanent Investment 10 0 0 10 7 6 United Building Society 0 15 3 0 16 0 Shipping — Union (pref.) . ... 1 0 0 — Frozen Meat — Canterbury (pref.) 3 15 0 N.Z. Refrigerating U£ paid) . . . 0 10 0 0 11 0 Woollens — Kaiapoi (7s pd.) 0 10 8 0 11 9 Wellington (cum. div.) 5 0 0 5 15 0 Gas— Christchurch (ex. div.) I 4 3“ i 4 10

Breweries — Carlton . 1 10 3 1 11 3 New Zealand 2 10 0 2 10 6 Tin aru (5s p<l . • 0 6 6 0 7 0 Tooheys 0 19 0 1 0 6 Tooths 1 8 10 1 9 0 White Star — 0 13 0 Miscellaneous — Australian Iron and Steel (pref.) ... Beath and Co. (Is 0 15 0 0 18 0 paid) 0 6 4 0 7 0 British Tobacco . 1 17 7 1 18 0 Colonial Sugar . . 37 17 6 38 0 0 Canty. Saleyards . Dunlop Perdriau 1 13 3 2 0 0 P ubber 0 13 3 0 13 5 Electric Zinc (ord cum div ) . ... 1 0 0 1 0 6 Do. (pref cum div) 1 3 9 1 4 0 Holden’s Motors . 0 8 0 0 9 0 Mt. Lyell N.Z. Farmers’ 61 1 2 9 1 3 0 p.c. stock, 1939 N.Z. Farmers’ Fer80 0 0 tiliser (cum div) 0 19 6 1 0 6 No* h Canterbury Co-op. Flour . . 0 7 7 Sane «*rd Ltd. . . . 0 5 0 Taranaki Oil 0 2 2 0 2 5 Mining— Okarito Cornish Point (1/0 6 10 0 7 2 paid) 0 0 5 0 0 10