THE WORLD OF COMMERCE

New Zealand Times, Volume LIII, Issue 12613, 25 November 1926, Page 8

THE WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE YESTERDAY’S QUOTATIONS. (3.15 p.m. Call.) Yesterday’s closing quotations for premiums of investment and mining stocks, as advised by the Wellington Stcck Exchange, are as under:— Buyers. Sellers. <£ s. d. £ s. d.

div. fi/x div. JCalls paid in advance. Sales reported.—N.Z. Breweries Debentures (bonds), <£l ss; Burns, Philp and Co., «fil 193* Wnibi Grand Junction, 2s 3d; Commercial Bank of Australia (ord.). £1 12s 6d. SALES IN OTHEITcENTRES Per Press Association. AUCKLAND, November 24. Sales, —Moanataiari (paid). 6s, 6s 6d; ditto (cont). 5s lOd, 6s, 6s 2d, 6s 3d. 6s 4d, 6s 3d, 6s 2d, 6s, 6s Id: Lucky Snot, Is sd; 3s 8d; Alburnia, 4s 3d; Bank of New Zealand (rights), 6s 8d; Auckland Gas, 23s Bd. Sales.—National Bank of New Zealand, .£7 Is; Union Bank of Australia. «£ls ss; Alburnia, 4s 2d; Waihi Grand Junction, 2s 4d. DUNEDTN. November 24. Sales.—Black’s Gold Mining 3s, discount (two parcels). Sales reported N.Z. Refrigerating (paid), 15s; Bank of Now Zealand (right-)? As 7d, 6s 8d Sates.—National Bank of New Zealand, '£7 Is. Sales reported:—Bank of New Zealand, 60s 6d; National Electric, 20s; Upper Nevis. 4«* 9rl (prem.) CHRISTCHURCH, November 24. Sales reported: Union Bank of Australia, rCIS 4s. Sale« on ’Change: New Zealand Breweries bonds, 255.

WANGANUJWOOL SALES

DALGETY AND COMPANY’S REPORT. At the first sale of the 1926-27 season wo offered 720 bales, and sold by auction 80 per cent. The offering generally could only be termed medium, ordinary top-making sorts predominating. Both at Wellington and Napier Continental competition was in no way pronounced, their purchases being small. At this sale they came well on the market, especially Germany, and lifted a good portion of the offering. The wools catalogued were certainly more suited for their trade than those offered at Wellington and Napier, and they not only purchased the low wools but also some of the better style parcels. Although English buyers were apparently working on the same limits as at the two previous sales, they were not able to secure all the wool they wanted owing to the solid Continental competition. As is usual in this centre, many of the clips offered showed faulty "get up,” and even quite good clips were spoilt by growers failing to do any skirting. Under present trade conditions, when buyers are tied down to hard and fast limits, they have to use the greatest care in estimating qualities and yield, and a well classed and carefully skirted clip can always he purchased with more confidence than an unclassed and unskirtod parcel. The wools generally were fairly heavy in condition, and old seed was in evidence. With so many adverse influences nt work the result of to-day’s sale must be considered satisfactory, and the generally firm tone which lias prevailed at the first three sales leads ono to believe that the wool trade as 1 a whole is in a sound position, and with a definite settlement of presentindustrial troubles, prospects for a revival in trade are good, and this eventuating would do much to stabilise the textile industry, France and Belgium. unfortunately, at present, are not operating to any great extent, but we hone that later in the. season their financial troubles will bo straightened ■ out, and good orders again given for Dominion wools.

1 As comparer? with 7’ates established at the first Wellington sale prices today were practically on a par. although really they can he quoted well in sellers’ favour, especially low wools, and also the good style of Romney. Further, when comparing prices recorded at. Wanganui sale on March 22nd last with to-day’s nuotntions, very little variation can be found.

, We have the oniuiou that prices ntpresent ruling will show very lit tJc

sal© centres finance may be strained, and a slight easing in .values may then be reported. Our catalogue did not contain any specially good wools, the majority of the lots being of medium quality and style. Some of our principal sales were as under:—Fine crossbred: Lismore, 10 wethers A, lid; GB/0, 9 hoggets 10£d; JAJ/M, 10 crossbred A 13<1; Tataramoa, 8 hoggets llTd; Gahan/J, 8 hoggets 12id: WEG/K, 4 hoggets 12id, 6 wethers A ll£d; MC/H, 5 ewes R6/Rawa, 4 hoggets lO.ld; JP, 1 three-quarter-bred 13d • CBD/Tho Gums, 1 halfbred 13d; JC/M, 4 hoggets lljd. Medium crossbred: Lismore, 11 ewes D lOJcl; GB/G, 9 ewes A 10;Jd, 4 hoggets lOld; THM, 6 crossbred lid; Bryn/FP, 6 hoggets 12£d; C in block, 4 ewes A 12d, 7 wethers A Hid; GBD/The Gums, 4 crossbred llid, 6 crossbred llid; B wineglass B, 9 ewes 12d; JG/Al, 4 ewes lOJd; WPG/K, 10 ewes A 11 >d; PRB, 7 crossbred 102 d; SE/A, 5 hoggets 10-id; 9 crossbred 10id; 88/A, 19 crossbred llid; Puke&nu, 17 ewes llid; II circle, 4 crossbred lid; 03/KAK, 12 crossbred A llid; THW, 8 hoggets 12d, 11 ewes llid; various, 14 crossbred Hid, 12 crossbred llid. Coarse crossbred : A&P/M, 13 ewes 9.fd; HL HL, 8 wethers 9£d; CAW/P, 9 ewes 10Id; T/Tihu/Tawata, 4 crossbred 101 d; Nl)/R, 8 hoggets llfd, 8 wethers llid; C3/M, 19 crossbred 10£d; LEE, 4 hoggets 10d, 7 crossbred 10id; C in block, 6 crossbred lid; EK/U, 5 wethers lid; 2C bar 5 crossbred 10&d; various, 19 crossbred B£d, 10 crossbred 104 d, 8 crossbred 94 d. Lincoln: Heart eyebrow, 8 bales 10d; Monte, 1 bale 9id. Lambs : GS/O, 6 bales llid; Tataramoa, 9 bales 13id; X eyebrow W, 3 bales 9£d; Maker!, 3 bales bales Bd. Pieces: Cin block, 4 bales 9cl; various, 4, bales Bd. Crutchings: Maunganui, 12 bales 7d; JF conjoined, 5 bales 7d; Puao, 4 bales 6fd; various, 14 bales 6id, 4 bales 6£d, 4 bales 6fd, 4 bules (seedy) 3d, 6 bales s£d, 3 bales 7-id. MURRAY, ROBERTS AND CO. The wool selling season opened with an offering of 8000 bales, the quantity forward in time for the sale having been very much restricted by the recent wet weather which lias hampered shearing operations. Of the total quantity submitted we catalogued 656 bales, the bulk of| which consisted of medium to fine crossbred—mostly light in grease, but many lots showing last year’s seed in more or less degree. On the whole, the wool was much sounder than last year’s clip, although tenderness was apparent in some of the fine sorts, which were often thin haired and Jacking in robustness, and there were few really attractive lots submitted. In comparison with the earlier sales, the market was exceedingly firm and the trend of values generally was in the sellers’ favour, especially in the finer grades from 46’s upwards. The attendance of buyers was very large; competition was free and well spread, buying being fairly general. Continental buyers operated with more freedom, and Bradford was bidding strongly. The tone of the sale’ was generally good, and the market exhibited more buojmncy than probably was anticipated. Our catalogue contained a few light conditioned lots of crossbred of fairly attractive style, which met with very good competition, and realised quite ; satisfactory figures; we passed very J few lots in; selling 96 per cent under | the hammer. j We quote below some of the prices real- I ised in our catalogue:—MP/Gleuroy, hog- | gets A hoggets B 13Id, W.A.A. 13d, 1 VV.A. W.B. llfd; E. McG/Mangara, hoggets A 14d, hoggets B ll£d, W.A. 13d, ! W.B. lljd; Jin diamond, hoggets 32jd, j W. lljjd, ewes 12d, pieces A 10£d; West j Ho, hoggets 12}d, W llid, ■ ewes ll$d; I Glenian, hoggets 32id, ewes Hid; YH, hoggets 12£d, W lid; A in bell, hoggets 12£d, W l2id; Rukumoana, hoggets A 12}d, hoggets B llid, A crossbred ll£d; Waiau, hoggets A 33fd, hoggets B llid, ewes A 12d. Down 16d; ECL, A crossbred llid, B crossbred llid; Konui, hoggets 12d, A crossbred 12$d, B crossbred llfd; Opea, hoggets A 12id, ewes A 12ld, ewes B llfd; Poito, hoggets lOld, W.A. ;10iM, W.B. lOd; Wythall over EV, hoggets 13d, W llfd; TT, hoggets 12fd} Chester, W llid; AWA, hoggets llfd, owes llid, Down 16d.

ADDINGTON MARKET

FAT CATTLE CHEAPER SH-EiEP NOT AFFECTED. Per Press Association. CHRISTCHURCH, November 24. Smaller entries were the rule at Addington to-day, but values were not affected much. Fat cattlo sold decidedly cheaper. Fat sheep were about the same as last week, whilst fat lambs averaged if anything, a shade of improvement. Store sheep; A small entry of mediocre quality. Good class hoggets made good prices, but cull wethers were several shillings lower than last week. Ewes with forward lambs also sold well but backward lambs and owes dragged. Good threequartcr-brcd ewo hoggets made 38s 3d; small halfbred ewe hoggets 30s to 31s 9d; aged woolly ewes and lambs, 13s 9d; sountl-mouthed inferior ewes and lambs, 15s 3d; six and eight-toothed shorn ewes 22s 6d; six and eight-toothed shorn wethers 23s Id to 245; good fourtoothed shorn wethers 24s 3d; three-quar-ter-bred sound-mouthed woolly wethers 31s (id; halfbred soundmouthed woolly wethers 335; four, six and eight-toothed shorn wethers 16s 4d to 18s tkl; inferior shorn four and six-toothed wethers 16s to 19s lOd, two-toothed halfbred wethers 17s 2d. Spring lambs: Another heavy entry of just on 900 head. The market was Is 6d a head better over tile earlier stages, but slacked later. The average values were to 9d per lb. Extra prime heavy lambs made from 20s 6d to 32s 4d; prime lambs 27s to 295; medium lambs i-ls to 26s <kl; light Jambs 35s 6d to 235. Fat €heep : A smaller entry, comprising 10 races, compared to recent averages of 12 to 14. The market opened better than last week, but slipped back and on Lbe average was practically on all fours. Butchers generally are iiolumg supplies of sheep, and the uncertainly ui the freezing position is having a depressing effect. Extra prime wethers made up to 32s 9d; prime wethers 2>s 6d to 31s Cd; medium wethers 25s bd to 2is 3d; ligui wethers 2ls Od to 255; extia prime ewes up to 3<s; prime ewes 23s to 265; modi am ewes 2‘Us 6d to 22s 0d; light ewes 15j lo 2cs; prune woolly iv ethers 34s 6u to 3ta 4d; medium wooiiy wethers 32s lo 345; prime woolly ewes ~6s 0d to 33b 4d; medium wooiiy ew es 2os Oil to 2'bs. Fat cattle: Another heavy entry ot 557, making a lew short of an aggregate of 1500 for the past three sales, mis excess has brought prices down, and today heavy bullock** were ;jbs lower tlian last wcck. Medium-weignt steers realised22s,5 5, heifers 20s, amt the best beef made from 35s to 3/s 6u per iooib, the average being from 34s to 30,. Extra heavy steers made from 416 to XU 12s 6d; prime heavy stems u;/A Jos to xio , los; prime medium-weight sheers 416 \o 1 3:15; medium quality steers 410 10s to «Fl2 15.5; light steers XT Jls to 4'9 Jss; extra prime hoitevs up to 412 Vs 6d • prime heifers 410 Its to Jill Jss; nmuium boilers 47 to .216; light boilers 45 5s to 46 15s; extra ncavy cows up to 412 7-s 6d; prime cows x'J ids to XU i medium cows 15a to 49; light cows xi Ry to etc ss. I

V'ealera : A smaller entry' and a good sale. Good runners made up to XI; medium 45 15s to Ids; ordinary to good calves X\ to 45 10s; small los \ 0 •Store cattle: ;A fairly large entry and a. good demand for forward steers ami ivesli young cows. Two-and-a-iutU t.» three-year steers- made up to 4<j JOs; frosli cowa up to 4:5. Dairy cattle: A small entry ami a better sale. Best second to lourlli culvers made from 46 15s to .I*9 15s; extra good springing heifers 4:9 to 4:11 ss. Fat pigs: A medium entry and easier values. Choppers made from 43 to 44 8s (id; haconers 43 12s to 43 8s (average per lb Cud to 7jd); light pojkcrs 46s lo

change during the present season, although when we reach the height of the season witli heavy offerings at all 555, heavy 60s to 70s (average price per lb to, 8R1). Store pigs: A brisk sale and a slight advance in values. Weaners made from 17s to 28s; extra good up to 34s 6d; stores 35s to 48s; lurge 50s to 565.

LONDON WOOL SALES

PRICES SLIGHTLY LOWER COiIPETITION~EXCELLENT. Australian and N.Z. Gable Association. (Received November 24, 5.5 p.m.) LONDON, November 23. At the wool sales there was a large attendance of buyers from all quarters. In all, 9362 bales wore offered —an average selection. There was excellent competition, and practically all was sold. Germany and the Home trade were the chief operators. Compared with the October closing rates, merinos were 5 to 7} per cent, lower, and crossbreds par to 5 per cent, lower. dalgety'and ca’s cable Messrs Dalgety aud Company, Ltd., report having received the following cablegram from their London house under date of the 23rd instant:—“Wool sales opened, good competition, large attend-1 ance of buyers, average selection. As compared with closing rates of last series greasy merino Id lower, scoured merino lid to 2d lower, greasy fine crossbred unchanged, greasy medium and coarse crossbred par to id lower, scoured crossbred par to id lower, slipc id to Id lower. 0 “A GOOD TONE” Messrs Murray, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated 23rd instant: —Sales have opened with a good tone; large attendance of buyers; competition good; Continental buyers principal operators. Good selection of merino. Greasy merino and best scoured merino par to 5 per cent, decline. Scoured meriijo, other descriptions, declined 5 per cent. T'oor selection crossbred greasy offered. Crossbred greasy medium and par to 5 ]>or cent, decline. Crosbred scoured Market shows no material change. Crossbred slipe declined 5s to 7V per cent. The Wairarapa Farmers' Co-operative Association, Ltd 1 are in receipt of the following cablegram from their London agents, under date November 23rd: The sixth series of wool sales opened I to-da.v. There was a large attendance of buyers. Fine crossbred shows no , quotable change. Medium crossbred par I to 5 per cent, decline Coarse crossbred par to 5 per cent, decline, compared . with closing rates of previous sales. LEVIN AND CO/S CABLE Messrs Levin and Go., Lid., have received the following cablegram from their London agents, dated Aovomba 23vd. 1926-. ‘'The auctions opened here 10-dav wit;, a large attendance of Home and Continental buyers. The competition iron; Germany was strong, but France u :i<less active. As compared with the closing rates of last sales, wo quote (all per Jb lower): Greasy merino, best Id, average Id; halfhreds, 50-56’s Id; crossbreds, -<S-50*s s<!. 46-18’s Jd, 44-46’s id, 40-44’s \i\. bi; slipe, halfbred lambs. Id; other stipes, Jil; scoured merinos, 2d." CUSTOMS REVENUE The Customs imonuo received at the port of Wellington yesterday aggregated 47937.

SYDNEY WOOL SALES

FINE WOOLS SELLING WELL SEASON'S RECORD MADE. By Telegraph.—Press Assn. —Copyright. (Received November 24. 10.55 p.m.) SYDNEY, November 24. At the wool sales fine wools and par* ticularly showy, attractive parcels met an excellent domand, and prices continued on the sellers' favour. Wools lack* ing quality, or showing dust and burr, were very irregular. Comebacks and crossbreds were unchanged. Greasy merino sold to 35}d—the record price 60 far for the season. LEVIN STOCK SALE Messrs Dalgety and Co.. Ltd., report a fair entry on the 23rd in6tant in all section. Store pigs and porkers maintained late rates; sheep sold at late values, while cattle were slightly easier. Weaner pigs brought up to 295; store pigs up to 38s; fat cows brought from £3 10s to Xb 15s; store cows from 229 to 3is. Hoggets, woolly mixed sex, 21s 6d.

Government Loans — Inscribed Stock (1939) 96 12 ft — Inscribed Stock (’938) 96 1 2 ft — Inscribed Stock (1933) 100 12 6 100 15 0 Inscribed Stock (1936) 100 10 0 — Inscribed Stock (1932) 100 0 °\ — War Bonds (1939) 96 1 2 6 [ — War Bonds (1938) 96 12 ft — War Bonds 0930) 97 10 0 — War Bonds (1933) 100 15 0 — War Bonds (1936) 100 10 0 —■ P.O. Inscribed Stock (1927) 93 17 ft r.O. Bonds (1927) 99 0 0 •— Debentures— Wn. Pacing dub ... 106 0 0 ft N.Z. Breweries (stock) — 1 5 N.Z. Breweries (bonds) — 1 5 3 Banks— Commercial of Australia (ord.) — 1 12 6 Commercial of Sj'dney — 2G 10 0 National 7 0 ft — New South Wales 45 0 0* — New Zealand 3 0 3 — New' Zealand (rights) 0 6 ft — Union of Australia ... — 15 6 0 Financial— Metropolitan Perm. Building 13 0 0 N.Z. Guarantee Corp. (ord.. 8s) 0 10 5 N.Z. Tx>an and Mercantile Agency (ord.) 95 0 0* _ Wn. Deposit & Mortgage — 0 10 4 Wri ght, Stephenson 1 4 6 Wri? ht, Stephenson (prof.) — 0 17 6 Gas— Ashburton —• 5 0 0 InsuranceNational — +3 18 0 New Zealand 1 18 6 1 19 3 South British — 2 17 6 Meat Preserving— N.Z. Refrigerating (10s) — 0 7 1 Transport — Huddart. Parker (ord.) — 2 7 6 N.Z. Shipping (pref.) 9 0 0 — P and O. Deferred Stock — *250 0 0 Woollen— Wellington (ord.) 6 10 0 Wellington (pref.) ... 6 10 0 — Wellington (now issue) — te to 0 Coal — Westport — tl 16 6 Timber— Taringamutu — 1 7 0 National ; — 0 16 0 Breweries — Manning and Co 1 0 0 i i 0 N.Z. Breweries 2 11 3 Staples and Co — 1 18 3 Ward and Co 2 2 6 2 3 6 Miscellaneous— \ Electrolytic Zinc (ord.) ! — 1 16 6 Electrolytic Zinc (pref.) 1 16 9 1 17 3 Howard, Smith — 1 13 0 Shnrland & Co. (ord.). — 1 IS 6 Sharland & Co (pref ) — 1 3 0 Wellington Cordage ... — 0 18 0 "Wilson's Cement >— *1 15 0 Mining— Wnihi — 0 19 6 Kawarau 0 3 i —