LATE COMMERCIAL

Press, Volume LXVII, Issue 20184, 12 March 1931, Page 13

LATE COMMERCIAL

: _—* —— . ! FOREIGN LOANS MARKET. > ■ . . 1 1 " 1 RESUMPTION IN UNITED ! ; ■ , STATES. [. V ' .. , [ (T3KITID PKESB ASSOCIATIOK— B* BMECTBJG [ TBLKOBAFa—COFYHIOHT.) 1 NEW YORK, March 10. ( | A virtual invitation to Australia, t • Germany, , and v others to enter tho i American market for foreign loans is I seen in a bankers' btatrment to-day, I predicting the resumption of foreign financial relations by Wall Street with- [ in 60 days. \ Economists bolieve that American , long-term lending abroad is the first constructive step for world economic ' recovery. • . ; INCREASED PRODUCTION* ' OUTPUT OF BUTTER IN AUSTRALIA. f (Beceived March 12th/ 1.5 a.m.) , SYDNEY, March 11. ' , Owing to the production of batter, being 2500 toss .greater for January' and TTebruai/, astomparfcd with tho , corresponding period last year, the Aus--1 travail Stabilisation Committee to-day decided to reduce the export bounty by three farthings, to threepence per pound. The recent floods in the dairying 1 areas. iiave so improved the pastures , that the' heavy output is likely to cont#njue."! Th? levy on producers of lid ' :per po.urid.-is.to remain.', - •. \ ! \ STATION STOCK ' SOLD* I (tiwout, to i ' Jf,,-. ,* 1 GISBOBNE, Mftrctfi lx> A "clearing eale was held on) account of Olongaroa Station at tho Qisborne saleyatd?. The sheep were superior to' tho offerings • at the 1 loc*l weflkly sajea, and met With keen ' cMnjfetHion at tho beet raluw recorded' this Tear, TWo-tooth ewes Mid up to' lis 7d, four-tooth to 12a 6d, six-tooth to 10s 7d. 1 eight-tooth to 8s 6d, five-year to ps 7d, si* , year .to 56 lid#' wethent to •08 |H 1 two* tooth to 6s Id; and lambs to;?».;« ■ ; - * The cattle were in good conaltiop, v but, tho demand' was easy, due to the lack of ■■ feed, Two and a half year '»tperr..( made aailOi to £3 13b, young t breeding, flows £l- - 8s to ,£2%165, older £1 7«, .oowr.with calves 'fil 11a. eighteen-<-mpnth* heifers *l, 9s to £l 19s, two and three year £2.Bs to £2 12g. BURNSIDE MARjKET." ii i * ' . • : (rxiss assocuwoii mlmuuh.) 1 , • , DUNEBIN, March 11. 1 Prices-W «af cuttle showed a sharp de■«Hn« At Btmiside to-day. In the opening sales • there was a drop of 10s, and the closing quotations showed a further drop of 5s per ■ head. ■ There was an . improvement in the. 1 tone -of . the seQtioi}, wetheh being i sold s af'an advance of Is ahd ewes of 2a per head. The lamb sole was irregular. Med; [ lum weights were sold it Is per hfead cheaper. The pig market was firm, porters ' and ' selling at aa' advance of 6s 1 ■ pe Fat # *Oattlo—The entry conbisted of 286 ' head of medium to fair quality, A few prifae bullocks were offered, and. also a B ™ a U / proportion of heifers and cows Heavy bulwir« Mid ui> to *l4, medium to £l2, light ■to £lO, heavy heifers to, £lO, medium to £9, ' 7s 6<L light to ,£7 10s, heavy cows to £9 2b 6d, medium to £& 6s, and light -to £7. The prices obtained for choice bulloclc beef .were equivalent to 39a per 10 Fat Sheep—About 1800 were' penned of 'medium to very fair a oß "** J ho eluded • Wrge number of ewes and a, small proportion o! good wethers. Opening prices wera equal to the last week's rates, but a drop in values resulted in late* sales. Exjfea prime wethers sold to 17s 3d, prime to Js* Gd, medium to 13s' 6d, prime ewes to 9s ' 9d medium to- 7s 9d, and light to 4s 6d. Prices obtained for prime wethers were °^Fa* I Lambß-—The'entry totalled 850 head, and included a • number of, extra ; heavy lambs and several pens of unfinished sorts. Heavy and medium lambs were about Is • cheaper. Extra heavy lambs sold tip to 7s '6d, prime heavy to 16s, medium to lis 6d, ' knd unfinished Borts to 9s 6d. Light, prime ■ lambs sold on tie basis of sd, and heavy i lambß 4Jd per lb. " Store Cattle*—There was a • very poor yarding. The entry totalled about 100 ' head ■, 'and consisted of mixed cows and vouns steers. No bullocks were forward.,Two-year-otd steers sold at £4, and old cows 1 St ptes—The entry consisted ,of 68 fats and 60 stores. The-yarding met /with good com- : petition. Porkers sold on the basis of 6Jd, and baconare s|d per lb/