COMMERCIAL FINANCE AND MARKETS.

Star (Christchurch), Issue 19075, 21 May 1930, Page 11

COMMERCIAL FINANCE AND MARKETS.

LAMB PRICES RISE AT ADDINGTON SALE.

KEEN COMPETITION FOR BOTH FATS AND STORES Fat lamb prices advanced at the sale at Addington to-day, the increase being from a shilling to eighteen pence. There . was a good demand, and export buyers operated freely. Butchers showed keenness for lighter weights. Fat cattle were yarded in smaller numbers, and values remained at last week’s rates. FAT LAMBS. There was an entry of 2309 lambs, compared with 2070 last week. From the outset the sale was brighter than it was last week, and prices showed an advance on last week’s rates. Competition was keen throughout. Freezing buyers were operating freely, and lambs sold well up to late schedule rates, and in cases a. little better. Prices Were up Is to Is 6d all round. Values were:—— Extra prime lambs, to 2ts 7d. Prime lambs, 23s to 2ss Gd. Medium lambs, 19s 6d to 22a 6d. Light lambs, 16s to 19s. The principal sales were:—On account of J. Stewart (Rakaia), 25 at 23s 4d to i 27s 7d; O. L. Roberts (Springston), 40 at 21s 4d to 27s Id; C. and T. Anderson (Hawarden), 138 at 21s 4d to 25s lOd: E. Harrison (Scargill). 6 4 at 24s 4d to 25s 7d; .T. German (Aylesbury), 74 at 226 4d to 24s lOd; F. M. Power (Hawarden). 68 at 20s lOd to 24s lOd: J. W. Ivory (Oxford), 7 at 24s Id; B. Swift (Barry’s Bay), 2 at. 24s 7d; client, 38 at 23s 4d to 23S lOd: ,T. S. Simpson (Springston), 61 at 21s 7(1 to 23s 10d: south client, 37 at. 22s 7d to 23s 7d; S. R. Bong (Brookside), 103 nt 20s Id to 23s 7d; R. Orennell (Barr Hill), 58 at 22s lOd to 23s 4d; John Bong (Lakeside), 106 at 22s 4d to 23s 4d; J. Giiln.ndert? (Oreendale). 80 at 21s lOd to : 23s Id; XV. Coleman (West Melton), 5 at 23s Id; £?. Coleman (West Melton), 7 at. 23s Id: Mental Hospital. 57 at 22. s 7d to 23s Id; J. Stewart (Darfield), 76 at 21s lOd to 23s Id; A. Black (Waika.ri), 38 at 21s 7d to 22s 4d; J. Taylor (Springfield), 80 at 18s 4d to 22s 3d; W. R. E. Booker (Hawarden), 68 at 21s 7d to 21s lOd; client. 96 at 16s to 21s lOd: A. G. Wilson (Culverden), 79 at 3 Off lOd to 21s lOd; T. SomerWell (Templeton), 70 at 19s 7d to 23s 7d; C. »?. Ferguson (Springfield), 13 at 19s 7d to 21s 7d; Husband and Gillett (Southbridge). 47 at 18s 4d to 21s 7d; Coles Bros. (Lincoln), 21 at *l9s lOd to 21s 3d; J. Foster (Scargill), 39 at 21s Id: J. Reese (Southbridge), 7 at 20s 4d; Mrs James Deans (Hawk Hills), 75 at 19s 4d to 20s 4d; E. Hay (Pigeon Bay), 74 at 20s Id; Sir Bruce Stewart (Pigeon Bay), 204 at 17s Id to 19s lOd; J. Crooks (Mothven), 6 at 19s ?d; H. M. Carr (Waikari), 8 at 19s 7d; H. F. Al’Guigar. (Chertsey), 14 at 17s to 19s 4d; client. 75 at 19b Id to 19s 4d; F. R. Dalzell (Hawarden), 35 at 35s 4d to 19s 3d: J. S. Thompson (Kirwce), 12 at 18s lOd; Mrs V. Could (Rotherham), 81 at 18s 7d; XV. H. C-ole (Waiau), 4 at 18s 7d; A. F. Neill (Greenpark), 63 at 18s Id; W. R. Curtis (Marshland), 11 at 17s lOd: <3. Rutherford (Waitohl Peaks). 70 at 15s Id to l?s 10d; O. R. M’Rae (Balmoral), 75 nt 36s 4d to 17s lOd; P. O'Connor (Hawarden), 16 at 17s 7d: client, 8 at 17s 7d; J. XV. Newlove (Dunsandel), 8 at 17s 4d: K. W. Baker (Hawarden), 82 at 15s Id to 16s lOd. STORE SHEEP. Entries) of store sheep, both adults and lambs, were considerably smaller than for many weeks. The recent rain, followed by a mild spell, has brought the feed away, and this led to a much freer inquiry. Among the lambs there were a few pens of forward sorts, and these, bought principally by freezing works buyers, showed a substantial rise In values, which amounted to as much as &s a head on last week’s rates in some cases. Cull lambs advanced by Is a head, and the intervening sorts improved by from 2s to 3s a head. The small entry o£ adult sheep comprised fairly even proportions of wethers and ewes. A much freer toi>e prevailed thought the substantial rise in values in the lamb pens was not reflected here. The ewes generally were aged and inferior, with here and there a pen of young sheep. Farmers were not anxious to take ewes, and over the early part of the sale last week's rates were maintained. Wethers, however, where they showed forward condition, were in demand, and the early pens showed an increase of Is to 2s a head. The backward sorts remained unchanged. Lambs—l7o half-bred wether at 5s 3d, 95 cross-bred ewe at 11s, 50 three-quarter-bred ewe at 13s Bd, 73 mixed sex half-bred at Bs, 78 mixed sex crossbred at 11s 7d, 168 half-bred wether at 8s 9d, 60 cross-bred wether at 10s 7d. Wethers—Bß four and six-tooth halfbred at 22s 3d; 70 four and six-tooth half-bred at 13s; 120 four, six and eighttooth half-bred at 18s; 48 four and sixtooth half-bred at 16s ?d; 6 6 six and eight-tooth cross-bred at los- Sd; 46 six-tooth half-bred at 15s Sd; 66 four, six and eight-tooth cross-bred wethers at 17s 6d; 31 two-tooth half-bred at 12s 6d; IS four and six-tooth half-bred at 15s 6d; 163 four and six-tooth Corriedale wethers at 17s 6d to 17s lid; 80 four, six and eight-tooth half-bred wethers at 15s lid. Ewes—62 sound-month three-quarter-bred at ISs 6d; 71 four, six and eighttooth half-bred at 13s 9d; 3 4 two-tooth half-bred at 13s 2d; 83 sound-mouth half-bred at. 7s 7d; 59 four, six and eight-tooth Romney cross at 14s 7d; 144 sound-mouth half-bred ewes at 9s lid; 162 sound-mouth half-bred at 9s 6d; 59 four, six and eight-tooth half-bred at 13s; 69 sound and falling-month crossbred at 12s 6d; 29 four, six and eighttooth three-quarter-bred at 18s; 35 fullmouth half-bred at Ss 9cl; 4 5 soundmouth cross-bred at 8s 6d; 4 6 sound and falling-mouth half-bred at 5s 3d; 4 7 two, four, six and eight-tooth half-bred at 17a 9d; 67 four, six and eight-tooth three-quarter-bred at 17s 6d; 104 four, six and eight-tooth three-quarter-bred at 19s Id; 94 sound-mouth cross-bred at 33s 3d; 59 sound-mouth half-bred at 7s 3d; 70 six and eight-tooth half-bred at 12a 4d. FAT SHEEP. Fat sheep filled about twelve races—a total which was approximately the same as was penned at last week’s market. The general quality was not as good as that at the last market. The sale over the first half was a free one, and values for both ewes and wethers recorded an increase of up to Is a head. FAT CATTLE. The entry of fat cattle totalled 365 head, a much smaller entry than that at last week’s sale, 545. The general quality was quite up to the average standard, and although the bigger proportion were light and unfinished sorts there were several lines of very prime cattle penned. From the outset there was a little keener competition than has been the case for some time. Values however, recorded very little advance! except for prime medium-weight steer** which sold well a shade above late rates. Inferior sorts also attracted a little better competition than was the case last week. Representative sales were: W. Leonardo (Hickory). 24 steers at £ls* 12s 6d to £l9 2s 6d; Moore Bros. (Hickory), S steers at £l4 37s 6d to £ls 17s 6d; R. Gould (The Hermitage, Rotherham), 8 steers at £l4 12s 6d to £lB 17» 6d; .Miss M. Tini (Little River), 1 cow at £ll 12s 6d; R. J. Clarkson (Greendale>, 1 cow at £3 1 2s 6d; clients, 31 cows at £o 4 s 6d to £9 2s 6d; J. C. Hay (Pigeon J 3,' iy L S . s , teei ! s at £ *3 to £l7 17s 6d; D. M. Christie (Methven), 7 steers at £ls 17s 6d to £l7 12s 6d, 1 heifer at £l3 17s 6d; Gillies' PJstate (Mayfield), 2 steers at £7 .12s 6d and £22 7s 6d; G. Hartnell (Culverden), 3 steers at £8 7s 6d to £lO 17s 6d, 1 heifer at £8 2s 6d; J. Husband (Southbridge), 2 cows at £7 7s 6d and £8 17s 6d; Mrs W. Menzies (Tai Tapu), 5 steers at £ls 7s 6d to £l6 12s 6d; J. Menzies (Tai Tapu), 3 heifers at £lO 17s 6d to £l2 2s «d; poone Estate (Waiau), 7 steers at £lO Cd to £ls 2s 6d, 1 heifer at £9 12a 6d; F. .S. Northcote (Highfield), 1 steer i at £ls 2s 6d, 3 cows at £8 12s 6d to

£lO 17s Cd; A. It. Menzies (Menzies* Bay), 6 heifers at £lO 17s 6d to £ls 7s 6d; O. Fulton (Amberley), 2 cows at £8 2s 6d and £a 12s 6d. FARMERS’ TRADING CO. MAKE GOOD PROFIT. (Special to the “Star.”) AUCKLAND, May 21. The Farmers’ Trading Company’s net profit for the year ended March 31 was £60,422 compared with £49,334 last year. After paying 7 per cent On A and B preference shares and 10 per cent, which the directors now recommend on ordinary shares, and providing for income . tax and depreciation, there will remain £45,000 to carry forward. (The amount to be dealt with is over £IOO,OOO as a large balance was carried forward last year). STOCK EXCHANGE. CHmsTCHtmcu. Following are to-day’s quotations:—

Sales on 'Change.—N.Z. Government 55 P.C. Inoer., 1937. £99 7s 6d: E., F. and A. Bank, £6 2s (2 parcels); National Bank of Australasia (£5 paid, cum dlv.), £7 11s 6d; Goldsbrough Mort (new), 30 s. arnmber of Shares—--200 N.Z. Government 5J p.c. Inscr., 1937. 40 E., S. and A. Bank. 25 National Bank of Australasia (£5 paid, cum dlv.). 100 Goldsbrougli Mort. AUCKLAND EXCHANGE. (Special to the “Star.”) . AUCKLAND. May 21. Business on the local Exchange livened up perceptibly yesterday afternoon and before brokers had finished for the day a good number of transactions had been finalised. Mt Lyells showed a further recovery, with a sale at £1 8s 9d At this morning's call bidding was more active. Though only two fresh sales were added to the list, quotations covered a wider range than of late and several lines that have recentlv been neglected were asked for, albeit at a lower level ns to price. In the hank section, Nationals of Australasia were .firm, buyers still offering £l4 18g for fully paid and advancing their limits for the £5 paid to £7 l6s. Bank of NewSouth Wales are still wanted at £39 ss. Buyers came forward for Dominion Investment and Banking, offering 17s 9d For Walpa Collieries 9s was offered, and for Hayward's Pictures 13 s. Wilson’s Cemenare request, with buy-

Buyer Belle rs. £ i. £ N.Z. GOVT. STOCK93 6 99 4i p.o. Insor., 1039 98 a 6 4A p.c. Ronds, 1930 99 0 4 4 p.o. Bonds, 1939 98 6 p.o. Bonds, 1941 9 8 6 54 p.o. Insor., 1932 98 5 0 99 0 54 p.o. Insor., 1933 99 5£ p.c. Bonds, 1933 99 7 5} p.c. Insor., 1936 y 9 5 0 5 i p.c. Bonds, 193 6 99 6 5i p.c. Inscr., 1937 99 7 6 OTHER DEBENTURES Christchurch Trams, 6 4 p.c., 1634 101 2 6 102 0 Rotorua Borough, 6 p.c., 1961 102 10 0 Glaxo 6i p.c., 19 4 5 90 0 0 N.Z. Refrigerating 6i p.c., 1935 .. 95 0 /BANKS— Adelaide 6 13 0 Aust. of Comm. . . 1 4 0 1 4 Australasia .... 12 3 0 12 0 Comm, of Aust. . . 1 0 7 1 0 (pref.) 6 0 Comm, of Sydney H., S. and A 6 J. c 6 0 Natl. of A'asia (£10 paid, cum div.) 15 0 0 Natl. of A'asia (£5 paid. cum div.) 11 0 7 Natl, of New Ze-a-land 6 6 6 6 New youth Wales (cum div.) 39 0 0 39 5 0 div.) 13 Union of Aust. . . 11 0 11 s 0 INSURANCE — 0 0 I 4 New Zealand Bouth British 13 3 0 0 LOAN AND AGENCY— Dal get y and Go. 11 Goldsbrough Mort 1 11 10 1 12 1 Goldsbrough Mort 1 9 1 10 6 National Mortgage 3 7 6 United Building Society 9 0 SHIPPING— Huddart - Parker (pref.) 0 19 0 P. and O. De* t erred Stock .. 2 11 0 Union (pref.) .... 0 e FROZEN MEAT— N.Z. Refrig. (£1 P^id) 0 10 3 N.Z. Refrig. (10s paid) 0 A 6 0 4 North Canterbury Freezing .... 0 Wellington 0 WOOLLENS— Kaiapoi (17s pd.) 0 11 Kaiapoi (7s paid) 0 3 9 Kaiapoi (pref.) .. COAL— Grey Valley (ex div.> 1 0 7 Westport Coal (cum div.) 1 Stockton (pref.) . 0 GAS— Timaru 1 BREWE RIK S— Fosters New Zealand .... 3 3 Staples 0 Timaru Tooths (ex div.) 1 1 12 Ward 0 6 White Star 0 15 0 MISCELLANEOUS— Wireless tcont.) Australian Distillery 1 (cum div.) 0 Beath and Co. A Beatli and Co. (Is Booth Macdonald 0 4 British Tobacco . 1 18 1U 1 3 9 Canterbury Farmers* Co-op. (Ti0 12 Cantorbiry Farm* ers* Co-op. (Timaru) (A prel.) 0 Dunlop Perdriau Rubber 0 14 24 Electrolytic Zinc (pref.) 1 0 t 6 Holden's Motors . 12 Howard Smith 15 c 0 IS 0 Mount Lyell (cum div.) 1 1 8 N Z. Drug Co. 3 N.Z. Farmers’ Coop. ("A" pref.) 4 0 N.Z. Farmers’ Coop. ("B” pref.) North Canterbury Co-op. Flour . . 0 10 0 N.Z. Farmers’ Fertiliser .... 0 IS Victoria Nyatiza 1 19 0 Wilson’s Cement (cum div.) 9 MINING— Alexander .... 0 15 0 Kawarau 0 0 55 0 Okarito 0 1 0 1 10 (prem.) Stoney Creek (Cd paid) 0 0 0 0 Winding Creek (Is paid) 0 0 10 Winding Creek (6d 0 0 Cornish Point (Is paid) 0 0 6 0 0 9