ST. ANDREWS STOCK SALE

Timaru Herald, Volume CXLIII, Issue 20674, 12 March 1937, Page 13

ST. ANDREWS STOCK SALE

GOOD DEMAND FOR EWES LARGE ENTRIES All classes of stock were well represented at the St. Andrews stock sale which was held yesterday. Several good annual drafts of ewes attracted the largest number of fanners that has been seen this season at St. Andrews. Fat sheep and lambs held this week’s! rates, and fat cattle were on a par with late rates. The pig market was easier by 2/- a head. Keen competition was forthcoming for all classes of store sheep, especially for good sorts. A line of Border Leicester ewes sold under spirited competition. Sales were:—

Store Sheep 4 and 5 year jj-bred ewes 24/- to 27/11 4. 6, 8-tooth ewes .. .. 28/4 Full and failing mouth ewes, best 20/- to 25/Full and failing mouth ewes, medium .. .. 15/- to 18/Aged ewes 9/- to 13/-2-tooth wethers .. .. 23/6 Ewe lambs (medium).. 21/- , M.S. lambs (g00d).... 23/9 Wether lambs (small) 10/- to 14/- • Gns. 7, 1-shear B.L. ewes 4 7, 1 and 2-shear B.L. ewes .. 31 7,2 and 3-shear B.L. ewes .. 33 6, 1 and 3-shear B.L. ewes .. 2i 7, 4-shear B.L. ewes 2 Pigs Weaners 9/6 to 15/BANK OF AUSTRALASIA Accounts of the Bank of Australasia for the year ended October 15 show a net profit of £300,962, compared with £273,857 the previous year. A dividend of 8 per cent has been declared (3/6, interim, sterling per share - less 4/9 per £ British income tax); final 4/6 per share sterling (less 3/22 British income tax per £). This requires £289,899. The general reserve remains at £2,475,000 with a currency reserve of £2,000,000. With £182,266 brought forward there is carried forward £193,299. WOOL FOR CHINA Australian Commonwealth officials do not support the view expressed by a recent Chinese visitor, Mr Yuan, that China might become a large purchaser of Australian wool. Apart from the almost prohibitive Chinese duty on Australian wool. China has not developed a woollen manufacturing industry. China’s importations of Australian wool In 1936 were only valued at £19.000. Although the establishment of a woollen industry has been fully considered by the British and Commonwealth Governments the Federal Government has decided not to push ahead with this project because it is not prepared to subsidise an Australian undertaking in a foreign country. Further, there are no skilled technicians in China and the industry therefore would have to be operated by foreigners. METAL PRICES Whatever the day-to-day variations in metal prices, there Is no questioning the strength of the position. Almost every factor is strongly favourable. The progress of recovery and the increasing demand it has progressively released is one thing. To it must be added the loosening up of international spending which has followed the devaluation of the gold bloc Surrency and the stabilisation of the agreement btween England, France and America. There is no market influence greater in power than confidence. Minimisation of the exchange risk has removed one of the biggest bars to international trade. Metals are one of the first commodity sections to feel the benefit. The hand-to-mouth buying which was one of the features of the depression has been displaced by normal buying. Added to this is the enormous consumption that must take place when colossal armament orders are being placed on the market, and the speculation by “bull” operators as a hedge against possible inflation. Economic recovery, returning confidence protracted armament programmes all these must exert a pressure on metal prices and maintain them at high levels.

DUNLOP SPORTS COMPANY PROPRIETARY The Dunlop Sports Company Proprietary, Ltd., has been registered in Melbourne with a capital of £lOO,OOO in £1 shares. The company is a subsidiary of Dunlop Predriau Rubber Compny, Ltd., and has been formed to manufacture sporting goods. The directors are Wallace Andrew Bartlett, Henry MacKirdy, Adrian Quist and Albert Alfred Macpherson. AUSTRALIAN MARKETS United Press Association— By Electric Telegraph—Copyright (Received March 11, 8.50 p.m.) SYDNEY, March 11. The wheat market is firm. Shippers’ price in the country for silo lots is 4/9. which is equal to about 5/4, ex trucks, Sydney. Bagged wheat is quoted at about 5/5. Flour—£l2 15s a ton. Bran—£s 10s a ton. Pollard—£6 5s a ton. Potatoes—Tasmanian, to £6 10s a ton. Onions—Victorian Globes, £9 a ton; white £B. Maize—To 5/3 a bushel. GUARANTEE CORPN. Directors of the New Zealand Guarantee Corporation announce that shareholders will be offered 240,000 shares of 3/- each, issued at par. The offer is of one new share for every two now held.

Fat Cattle Fat steers to .. Fat heifers to .. Fat cows to .. .. Runners to .. .. £7/12/6 £6/12/6 £5/17/6 £3/17/6 Fat Sheep Fat wethers .. . . .. 24 - to 26 10 Fat ewes, best .. .. .. 20, - to 25/Fat ewes, medium .... 16/- to 18/Fat ewes, light .. .. .. 14/- to 15/7