FIRM MARKET

Evening Star, Issue 23696, 2 October 1940, Page 2

FIRM MARKET

MINING ATTRACTS ATTENTION DECLINE IN BREWERY VALUES The quickened interest in New Zealand mining shares was reflected in the sales list to-day. Clutha Rivers changed hands at their par value of 2s. Marthas sold at late rates, and Big Rivers at 6d, compared with a sale at 7d last month. The only other sale reported was Bank of New Zealand, at late rates. Quotations, too, were unchanged for the most part. The bid for Howard Smith rose slightly, while that for South Otago Freezing was decreased. Broken Hills retained the advance made with the sale reported yesterday at a comparatively high figure. For brewery shares there were no buyers, and sellers’ offers were at lower rates. New Zealands, which, during most of last month were commanding sales at over £1 15s. were offered at £1 Us. with no response. Dunedins were offered at £1 3s. The offer of Ballins at 13s was about Is above sales values of last month, but in this case also there were no bids. A sale of Dominions at Auckland yesterday was at lower rales. SALES REPORTED. —Yesterday.— 4 per cent. Stock, 1954-58, £IOB ss. Bank of New Zealand, £2 2s fid. —This Morning.— Clutha River, 2a Martha Mining, 7s fid, 7s 7d. Bank of New Zealand, £2 2s fid. —On ’Change.— Big River, fid. ' ; - SOUTHLAND STOCK SHEEP VALUES EASIER SMALLER CATTLE YARDING [Per United Press Association.] INVERCARGILL, October 1. There was a much larger yarding of fat sheep at the Lorneville stock sale to-day than there was last week, with a good number of heavy prime wethers and prime young ewes. Values from the start of the sale were slightly easier than at last week s outstanding sale. Nevertheless, there was a good demand. Wethers were 2s fid to 3s a head lower, but the margin for ewes was not so pronounced. Prime heavy wethers brought up to 475, prime wethers 42s to 445, medium 38s to 40s, lighter 33s to 355. Prime heavy young ewes brought up to 425, prune ewes from 38s to 40s, medium 35s to 365, lighter from 28s to 30s. The tat cattle yarding was smaller, and, with the exception of a truck or two of prime beasts, the yarding was made up of medium and unfinished sorts. From the outset the market showed an increase on last week’s rates, and prices were from 15s to £1 better. Extra prime heavy bullocks made up to £23 15s, prime heavy bullocks £lB to £l9 10s, medium £ls to £l6 Ids, lighter £ls to £l4. Prime heavy heifers made up to £l7, prime heifers £l4 to £ls, medium £l2 to £l3 10s, lighter £9 10s to £lO 10s. Prime heavy cows brought up to £l6 2s fid, prime cows £l3 to £l4 10s, lighter from £9 to £lO 10s. TRANSFER FROM CREAM TO CHEESE MINISTER ANSWERS URGENT QUESTIONS AMPLE PROVISION FOR EXEMPTION [Per United Press Association.] WELLINGTON. October 1. A number of urgent questions were asked Ministers in the House of Representatives by members of the Opposition during the afternoon. Replying to a question by Mr Doidge, who referred to the Order in Council providing for the transfer of dairy from cream factories to cheese factories, the Minister of Agriculture. Mr LeeMartin, said the Minister of Marketing, Mr Nash, had already pointed out that if. at the end of a given period, a supplier changing over had not reasonably recovered the value expended on dairy equipment, the Government would be willing to take the equipment ho had at the assessed residual value. No cases, said Mr Lee Martin had been reported of share milkers walking off farms rather than submit to the changeover, and be intimated that farmers who were able to prove that labour was unavailable would be considered eligible for exemption. Provisions also existed for granting exemptions from the operation of the order dealing with the disposal of dairly herds. Exemptions were also provided for in cases of hardship. . Replying to another question on the same subject by Mr Kyle, Mr Leo Martin said be knew ot no creamery winch had been converted into a cheese factory in order to increase the production ot cheese, but certain cream suppliers, who it was considered could change from cream to milk delivery without undue hardship, had been ordered to deliver milk to a cheese factory. If the supplier considered there was hardship he could appeal, and in some cases appeals had been granted.

MINING NEWS

nemona report. The Nemona Gold Dredging Company Ltd. reports that Mr W. H. M‘Alpino has bee a appointed dredgemaster. The building of a new steel hull for the dredge has been completed, and work is now in hand on the re-erection of the dredging plant and equipment dismantled from the old machine It is anticipated the new dredge will be completely finished and dredging commence by the end of October. WEST COAST DREDGES. GREYMOUTH, October 1. West Coast dredging operations have beesj proceeding normally since Sunday. The cessation of work which took place on Sunday was not a strike. The union president, Mr J. Laing. explained that the issue related only to repair work done on Sunday under an understanding with the employers, and there would be no interference with-normal dredging. SALES ON ’CHANGE; THIS DAT. Auckland.—Morning call: Bank o| New Zealand, 42s 6d;.Dominion Breweries, 30s 3d; Broken Hill Proprietary, 46s 9d; Clutha River, 2s. Noon call: Dominion Breweries, 30s 3d; Woolworths (New Zealand), 16s 4d. Wellington.-—4 per cent. Stock (1958), £IOB 7s 6d; Australian Consolidated Industries, £1 18s 6d; New Zealand Drug (Rights). £1 7s 4d. Reported: 3| per‘cent. Stock (1957), £lOl 2s 6d. Christchurch.—New Zealand Breweries, S3s 6cl (4) ; Mount Morgan. 8a 6d. Reported: Auckland Gas Perpetual Debenture, £102; New Zeahnid Drug (Rights), 27s 3d - (2); 'Woolworths (Sydney, late yesterday), 24d. Unlisted: Australian Motorist* Petrol, lie (2).