FINANCE & COMMERCE

Waimate Daily Advertiser, Volume XXI, 12 January 1922, Page 3

FINANCE & COMMERCE

THE STOCK MARKETS. ADDINGTON. CHRISTCHURCH, Jan. 11. There were slightly smaller yardings of beef and fat lambs, but other classes were up to recent averages. There was a firm sale for fat lambs, while store and fat sheep showed a slight improvement. Store sheep..—The market improved as it progressed, store lambs selling* well. Good forward 4 and 6-tooth wethers 13s 7d, low conditioned and inferior 6s to 7s 4d; good rape lambs 10s lid, other lambs 7s to 7s 6d;4-tooth ewes 9s 3d, aged and inferior ewes and lambs, 6s 9d all counted. Fat lambs.—Exporters operated freely on the basis of up to sid per lb, and secured most of the entry. There was a complete clearance. Extra prime 19s to 20s 6d, prime 16s 9d to 19s, medium 14s 3d to 16s 6d, inferior Ils 3d to 14s. Fat sheep.—A slightly increased yarding, and the sale a shade better. Exporters were bidding freely for ewe and light wether mutton. Extra prime wethers 20s to 22s 6d, prime 16s 6d to 19s 6d, medium 14s 3d to 16s 3d, light and unfinished 12s to 14s; prime ewes 13s to 15s .3d, medium Ils 3d to 12s 9d, light and interior 6s 6d to Ils. Fat cattle.—Extra good beef a shade firmer, but all good to medium beef unaltered. Extra prime to 295. per lOOlbs, prime to medium 255, rough beef 20s and under. Extra prime steers £l2 15s to £l4, prime £9 5s to £l2 10s, medium £6 to £9, inferior £4 to £6 ss; prime heifers £6 to £6 10s, ordinary £4 7s 6d to' £5 15s; prime cows £4 10s to £6 17s 6d, ordinary £3 to 4 ss. Vealers, prices somewhat lower; runners £4, good vealers £2 2s 6d to £3, medium £1 10s to £2. small 15s to £1 ss; small calves 5s to 12s 6d. Store cattle. —Dull of sale. Two-year-old steers £3, yearling steers 275, good bulls £4 ss, two-year-old heifers £3 10s, yearling heifers 23s to £2, medium cows 23s to £1 14s, old cows £los to 20s. Dairy cattle. —Good cows and heifers sold well. Other sorts brought low prices. Good second and third calvers £6 to £ll 7s 6d. good first calvers close to calving £5 to £9, extra good heifers £l3 10s, backward heifers £2 10s to £5 10s, inferior cows and cows in tnilk £1 Ils to £5. Fat pigs.—Value lower. Choppers £2 5s to £2 10s, light baconers £2 15s to £3 ss, heavy £3 10s to £4, average price per lb 5Jd to 6d; light porkers £1 15s to £2, heavy £2 5s to £2 7s 6d, average price per lb 6d to 7d. Store pigs.—Prices were very unsatisfactory to the vendors. Large stores £1 to £1 Bs, medium stores 17s to £l, small 10s to 15s, weaners 8s to 12s.

BURNSIDE. DUNEDIN, Jan. 11. Values for sheep, lambs, and fat cattle were decidedly higher at the Burnside sales to-day. The yardings were on a small scale, and this resulted in a good demand for all classes of fat stock. The demand for lambs was particularly keen, and the yarding was quickly cleared. Prices for store cattle were easier, and this also applied to pigs, which sold at vialues fully 10s per head below last week's rates. Sheep.—A medium yarding, numbering 1338 head, the quality of which, with the exception of a few pens, was of a secondary description. The sale opened at prices which showed an advance of 5s per head above late rates, but values dropped about the middle of the sale, which closed with a rise of about 2s per head. Extra prime heavyweight wethers realised up to 245, prime 18s to 20s, medium 14s to 16s, lighter kinds from Ils upwards. Prime ewes realised up to 17s, medium 12s to 14s, light and aged from 7s upwards. Prime ewes realised up to 17s, medium 12s to 14s, light and aged from 7s upwards. Lambs.—A small yarding of mixed quality, numbering 256 head. Competition was very keen, with one or two outside buyers operating. The prices realised were fully 5s per head in advance of last week’s rates. Extra prime lambs made up to 245, medium 19s to 225, others from 14s to 15s. Fat cattle.—A medium yarding, numbering 186 head of mixed quality. Competition was brisk, and prices showed an advance of about £1 per head as compared with last week’s rates. Prime bullocks realised from £ll 10s to £l2 10s, me-

dium £9 10s to £ll, light and unfinished sorts from £7 upwards. Prime heifers realised from £7 10s to £9 10s, medium £6 to £7, light and aged from £4 10s upwards. Store cattle.—A small yarding of inferior quality was offered. Competition was somewhat slack, and reduced prices had to be accepted in order to effect sales. Pigs.-—A medium yarding, all classes being represented. The sale lacked animation, and prices were considerably easier. COMMONWEALTH’S PROBLEM. MELBOURNE, January 11. The Federal Cabinet to-day will consider the question of the purchase of the Imperial stocks of butter. The Minister of Customs states that the Government is unlikely to‘commit itself to any proposal that may involve loss of money to the taxpayer. A GREAT CLEARANCE. LONDON, January 10. The Australian Press understands that the butter position is clear. The low retail prices caused such a strong deni nd that the Board of Trade sold 5,000,000 boxes. Government stocks since the beginning of the year, included 300,(XX) of New Zealand, which are entirely cleared. 'Die remainder of the Government stocks consist of about 300,000 boxes of Australian of poorer quality. BRITISH TRADE. LONDON. January 10. The value of imports into Britain during December decreased by £57473,000. Compared with a year ago the exports decreased to £37,256,000, and the re-exports £3,495,000. WHEAT EASIER. The cargo market is easier and quiet in view of lower Argentine American cargoes. The quotation is 3d to 6d lower. Australian parcels are firm; arrived 51s3d; auoat 51s 6d. WOOL. ADVANCES AT NAPIER NAPIER, January 11, The second wool sale of the season was held to-day Bidding from a large bench of buyers representative of all sections of the trade was brisk throughout and 90 per cent of the catalogue of 20,000 bales was sold under the hammer. Prices generally showed an improvement. There was an advance of id on coarse., Id on medium, and l)d on super Romney. The range of prices

Fine half bred, average 12d to 12Jd; medium halfbred inferior 8d to 9d; coarser half bred average 9Jd. Fine crossbreds, super B|d to 9|d, average 7fd to BJd; inferior (id and 7d; medium crossbreds super 7Jd to BJd, average 6d to 7Jd; inferior 4|d to s|d; coarse crossbred super sfd to 7d, average 4fd to 5Jd, inferior 31 d to 4Jd; low crossbred super 4)d to 5Jd, average 4Jd, inferior 3d, 4d. Hoggets, super BJd to 9|d, medium 6d to Bd, coarse -lid to 6id. Lambs, super (46-48) 12Jd to 13d medium (46-48) 81d to 9Jd, super (44-46) 6Jd to BJd, super (40-44) 6Jd to 7Jd. Seedy and inferior 3d to 4Jd. Bellies and pieces, crossbreds good to super 4d to 5Jd. low to medium 2d to 3id. Crutchings, medium to good 2Jd, 4d, inferior to seedy no bid to 2d. Locks crossbred Id to lid. GOOD RISE IN WOOL. PRIVATE ADVICES. The National Mortgage and Agency Coy., of N.Z. Ltd., report having received the following cable from their London Office. The auctions opened here to-day with a large attendance of buyers, and keen competition. Compared with the dosing, rates of last sales we quote best Merinos 3d, average 3d; fine crossbreds 2d; medium Id. Crossbreds Id dearer. Competition was active for finer grades, but lower grades were irregular. Slipe wool was selling better, coarse Id; medium |d. Timaru, this day. JamesMeehan and Son., yesterday, received a cablegram from London:— “Fine cross-bred, upwards 50’s ad-

vanced 20 per cent., medium 10, coarse 5 per cent.” LONDON SALE BRISK. LONDON, January 10. At the wool sales 12,764 bales were catalogued of which 3728 were New Zealand. It was an excellent selection of all sorts. There was a cron ded attendance and excited bidding. The English were the chief operators though France and Germany took a fair quantity. Evidently the market it in the midst of a covering movement, forcing prices to a level that many consider unduly high in view of the state of the woollen industry Best merinos were 15 per cent above the December closing rates, average sorts 10 per cent, crossbreds and slipes were practically unchanged . VANDERLIP SOVIET CONCESSION. NEW YORK, Jan. 11. According to the Los Angelos message, the importance of Vanderlip’s Soviet copcessions was disclosed today, when the Standard Oil Company of California purchased a quarter interest in the Vanderlip syndicate. They purpose prospecting for oil in Kamschatka when the United States recognises the Russian Government. The Vanderlip concession begins for a period of 60 years, immediately after that recognition.