COMMERCIAL

Timaru Herald, Volume CXXXIX, Issue 20097, 2 May 1935, Page 16

COMMERCIAL

BURNSIDE SALE LOWER RANGE OF PRICES By Telegraph—Press Association DUNEDIN. May 1. An exceptionally large yarding of beef, 470 head, was offered at to-day's Burnside sale. The entry comprised several consignments of good quality bullocks and a sprinkling of good quality cows and heifers. The bulk of the yarding, however, comprised medium quality bullocks. Prices at the commencement of the saie fell 10/- a head, and although there was a slight improvement tor better quality sorts about the middle of the sale, towards the close the opening rates were barely maintained. The store cattle section attracted an entry of 305 head and vealers were in over supply, consequently reduced prices had to be accepted for this class. Several pens of steers were forward, but last week’s prices were barely maintained. A pen of four-year-olds sold at £6/10/-. A medium entry in the dairy section did not meet with much competition. Only young cows close to profit were in demand, and late rates were hardly maintained for this class. Late calvers and backward sorts were neglected. There was a large entry in the fat sheep section, numbering 2491 head. A few trucks of heavy wethers of outstanding quality attracted keen competition and sold to 33/9. The bulk of the offering comprised ewes, and the values for these were about 2/- a head lower than the previous week's extreme prices. All freezing sheep sold at current rates. In the fat lamb section. 1378 were penned and only odd trucks of good quality lambs were forward. Butchers competed keenly for all the heavier grades, and freezing buyers operated at full schedule rates for the remainder of the yarding. In the fat pig section 147 were penned. At the commencement of the sale last week's prices prevailed, but there was a gradual easing in values. Baconers and porkers sold at a reduction of about 5/- a head. A small entry of 58 store pigs was quitted at satisfactory rates. ADDINGTON MARKET STORE WEATHERS DEARER By Telegraph—Press Association CHRISTCHURCH, May 1. There was a record entry of fat cattle at Addington to-day, a heavier one of fat sheep but a smaller one of store sheep. Store lambs sold at up to recent rates, all classes being in demand. Store sheep.—Mostly old ewes were penned with a sprinkling of forward wethers. The latter met with a sharp advance of 2/- a head, ewes being up to recent rates. Fat lambs.—36oo were penned and met a good demand at the export schedule for medium weights, butchers taking the heavier sorts. Fat sheep—The entry of 4500 was of better quality than of late, and there was a sound sale with a slight easing for export ewes of from 6d to 1/- a head. Show wethers sold to 35/10, prime heavy 26/6 to 2906, prime medium weights 24/- to 26/-. and ordinary and light from 15/- to 23/-. Show ewes sold to 27/10. prime heavy 21/to 24/-, prime medium weight 17/6 to 20/-, and others 10/- to 16/-. Fat cattle.—Bo6 were penned of mixed quality, some good lines being included from South Canterbury and the Peninsula. Best beef made from 22/6 to 25 - per 1001 b. medium to good 20/- to 22/-. and secondary 16/- to 19/-. Extra heavy prime steers sold *o £l2/12 6. prime medium weight to heavy £7/15/ -to £9 5/-, others £3/10to £7, best heifers to £B/12/6, good £5/5/- to £6/15/-, medium £3/10/- to £5, best cows £6 to £B/2/6, others £3 to £5. Fat pigs.—There was an exceptionally heavy yarding, the market being overloaded. Choppers sold to £4 TB/6. porkers 28 - to 42 6 (average price per lb 5d to 55d), baconers 57/6 to £3 4/6 (average price per lb 43d to sd>. GERALDINE STOCK SALE The following prices were realised at the fortnightly stock sale held in Geraldine on Monday:— Fat sheep: 5 ewes at 11/-, 1 at 16/4, 20 at 12/-. 12 at 13/4, 33 at 14/7, 10 at 13/-, 17 at 15/4, 14 at 11/4, 8 at 12/-. Stores: 25 wethers at 16/10, 27 ewes at 16/1, 30 wethers at 32/1, 7 ewes at 12/4, 25 wethers at 17/7. 39 ewes at 12/4, 5 ewes at 12/-. 25 wethers at 17/7, 33 ewes at 11/7, 40 ewes at 12/7, 25 wethers at 17 7. 19 ewes at 13/10, 34 at 12/4. 8 lambs at 23/4, 9 at 16/7, 24 at 14/1. 22 at 18 7. 25 at 17/1. 18 at 17/10, 23 at 19/4. 62 at 20/1. 29 at 16/7, 30 at 18/4. 68 at 19/4. 67 at 18/4, 84 at 18/1, 41 at 17/4, 30 at 17/7, 39 at 16/10, 26 at 17/10, 24 at 18/7, 43 at 18/10, 41 at 18/7, 75 at 17/1, 86 at 16/4, 90 at 18/1, 19 at 19/7, 25 at 16/1, 108 s.m. ewes at 12/-, 66 m.s. lambs at 14 8, 27 ewes at 6/10, 2 lambs at 5/9. 33 at 16/8, 20 ewes at 4/1, 10 lambs at 3/9, 19 ewes at 11/-. 23 lambs at 14/2, 137 ewes at 16/-. 50 at 16/1. 2 E.L. rams at £2/12/6, 19 ewes at 16/-, 21 at 19/4, 21 at 12/1, 23 lambs at 12/7, 65 at 8/7. Pigs: 4 at 8/-, 2 at 5/6. 1 at 12/6. AUCKLAND GAS COMPANY An important capital distribution was made by the Auckland Gas Coy. on May 1. when it redeemed £200.000 worth of 6-5 per cent, debentures. The debentures were in denominations of £SO, £IOO. £250 and £SOO. The loan was raised in 1928, the sum of £150,000 being required to replace an issue of debentures then falling due and £50.000 being for development expenditure. Practically the whole issue was subscribed in Auckland. The Gas Company’s distribution and the return of capital made in recent years by such companies as Wilson’s Cement, Gear Meat and the Guarantee Corporation are an idication of the difficulties of finding investments. The companies h:.ve found it convenient to return capital not required in the business or raise money at cheaper rates. These operations intensify the difficulties of investors by narrowing the field of suitable investment and tend to increase the funds which are now lying idle. (Continued on Page 13)