THE WORLD OF COMMERCE

New Zealand Times, Volume LIII, Issue 12619, 2 December 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 Stock Exchange, are as under: — Buyers. Sellers. £ s. d. £ s. d.

div. t Calls paid in advance. fEx. div. Sales reported: Hank of New Zealand, £3 Os 6d, £3 0s 3d; rights, 6s 7d; Meat Preserving—Gear, £1 17s. SALES IN OTHER CENTRES * Per Press Association. AUCKLAND, December 1. Sales.—Moanataiari, 5s 9d to 5s 6d; WaLhi Grand Junction, 2s 2d; Bank of New Zealand, 60s 3d; National Hank of Australia, £8 Is 6d. Sales reported.—Bank of New Zealand (rights), 6s 8d; Taupiri Coal, 21s 9d; Auckland Gas, 23s 9d; Wilson's Cement, 33s 6d; Mount Lyell, 29s Id. Sales: Soldiers' Bonds (1933), 5£ per cent., £IOO 17s 6d; Bank of New Zealand, 60s 3d; do (rights), 6s 8d; Union Bank of Australia, £ls 4e 6d; Taupiri Coal, 21s 9d; Auckland Gas, 23s 9d; Sanford Ltd./ 23s 6d; Wilson's Cement, 33s 6d; Alburnia, 3e 9d; Kawarau, 3s 3d; Lucky Shot (contrib.). Is 4d/ Is 3d; Mount Lyell, 29s Id. CHRISTCHURCH, December 1. Sales.—Commercial Bank of Australia, 325; Bank of New South Wales (cum. div.), £45 78 6d (two parcels); Western Australian Bank, 54s 6d. Sales reported: Union Bonk of Australia, £ls ss; WfStern Australian Bank 55s (two parcels); Mercantile Mutual Insurance, 265. DUNEDIN, December 1. Sale.—St. Bathans “B," 4s 6d (premium). Sale reported.—Bank of New Zealand, 60s 6d.

ADDINGTON MARKET DECLINE IN BEEF VALUES GOOD QUALITY SHOES’ SELL WELL. Per Press Association. CHRISTCHURCH, December 1. Entries generally were 6raall at the Addington stock market to-day. The store sheep entry tilled less than three races, and consisted mostly of ewes and lambs and wethers. The bulk of the ewes and lambs were of plain quality, but any fair sorts met with a keen domand at prices Is a head in advance of late rates. Aged ewes with lambs made from 15s 3d to 17s 9d; fair aged ewes with lambs 13s 5d to 14s; inferior aged ewes and lambs 9s 6d to 11s 7d; goodconditioned shorn ewes and lambs 12s 3d; aged dry halfbred ewes 9s 4d; four, €is, and eight-toothed shorn wethers 22s to 245; inferior shorn four and six-tooth-ed wethers 20s 7d to 20s 8d; good woolly t'hreequarter-bred four-toothed wethers 32s lOd; shorn two-toothed wethers 18s 5d to 21s Id; woolly thveequarter-hred ewe hoggets 33s 6d; woolly tureequarterbred crossbred hoggets 32s 6d; inferior woolly halfbred hoggets 25s 6d. Pat lambs: The entty consisted of 670 head, compared with 880 last week. The market opened with prices showing a rise for good sorts, and although the demand eased towards the end. the sale was better than the previous one. Extra prime heavy lambs made from 30s to 32s lOd; prime lambs 27s 6d to 29s 6d; medium lambs 24s 6d to 276; light lambs 20s to 23s 6d. Eat sheep: The entries totalled eight and a-half races against ten races last week and 14 two weeks ago. In the latter stages of the sale the market brightened up and butchers had to pay higher figures for plainer wothers than at the beginning. Values were generally from fair to a shade higher than last week’s. Extra prime shorn wethers made up to 34s 7d; prime wethers 27s fld to 31s 3d; medium wethers 20s to 27s 3d; light wethers 22s to 255; extra prime shorn ewes up to 29s 10a; prime ewes 23s to 20b; medium owes 20s to 22s Gd; prime woolly wethers up to 43s 4d; medium woolly wethers 33s to 35s Gd; prime woolly ewes 28s 6d to 32» Id; medium woolly ewes 25s Gd to 27s 9d. Fat cattle: In the fat cattle pens the yarding totalled 550 head, comparod with 557 last week. Cows formed a considerable portion of the yarding, but the proportion of good cows was rathe* larger than is usually the case. Recently the market has been oversupplied, and this was the case again, with the result that butchers were not inclined to go to the rates ruling a week ago for cattle. Rough heavy bullocks were lower by .£1 a head in some parts of the sale. Rest quality steer beef made from 34s Gd to 37s 6d per 1001 b, heavy prime beef His to 32s 6a, medium quality 29« to 31s; best heifer 31s to 36s 6d; best cow 30s to 335; and inferior 25s to 27s 6d. Extra heavy steers made up to .£l6 7s 6d; prime «£l4i to JB15; prime mediumweight ,£l2 15s to JEI3 15s; medium-qual-ity steers ,£lO 7s 6d to ,£l2 10s; light steer* JBB to 17s 6d; extra prime wethers up to JBI6 7s 6d; prime £6 15s to £0 106; light >BS 5s to >B6 7fl 6c!; extra heavy cows up to -812 2a 6d; prime >B9 to >BIO 15s; medium >B6 10i to J3B 15s; light >B4 5s to £ 6. V ealors; The entry was smaller than

for a long time, and the quality was poor. Medium porkers made from £6 to -67; good calves £5 5s to £5 15s; medium calves £4 to £5; small calves 15s to 30s. Stors cattle: The entry was small and consisted mostly of cows. Good freslv cows made up to £5; medium cows £3 to £4; inferior cows 306 to £2 10s; three and four-vear-old steers £7 15s; yearling steers and heifers 545. Dairy cattle: The entry comprised 45 head, compared with 65 last week. The demand was limited, and the sale dull throughout. Best socond, third, and fourth calvers made from £8 to £lO 10s; medium sorts £3 to £4 10s; springing heifers £4 to £7 15s; old cows in profit £3 to £4 ss! Fat pigs: A medium entry met with irregular demand, but prices generally wore somewhat better than last week, i Choppers made from £4 to £7; light bn- : coners £3 12s to £4; heavy baconers £4 10s to £5; extra heavy baconers up to £5 5s (average prico per lb 65d to 7|d); light porkers 46e to 545; heavy porkers 60s to 69s (average price per lb 8d to 9d). Store pigs: Values showed a reduction of about 5s a head on. late rates. Weaners mad© from 15s to 20s; better sorts up to 265; small stores 28s to 335; medium stores 85s to 40s; largo stores up to 51s; cows £3 15s to £4. BURNSIDE STOCK SALE EASING IN SHEEP FURTHER FAXJj IN CATTLE. Petr Pres? Ats^o^iation. DTJNEDIN, December 1. At Burnside to-day, save in sheep (down 2s) there was no marked change in rates. Fat cattle showed an easing tendency, and other lines were at par. Sheep: A penning of 2230 head of average quality. All were shorn except about 150. More unfinished sheep than usual were in the entry. The opening demand was fair, but the market eased, and towards the finish sales were slow and irregular, heavy sheep being little changed and light prime Is easier. The demand lessened more and all classes were 2s down. At the close of the sale passings were freely made. Heavy prime 6horn wethers made from 30s 3d .to 31s 6d; medium-weights 27s to 295, lighter 25s 3d to 265; prime heavy ewes 26s 6d to 295, medium 20s to 25s 3d, best woolly wethers 41s 6d to 4As 6d, lighter 3S& 3d to 355; beet woolly ewes 32s to 355, lighter 28s to 30s. Prime shorn wether mutton realised 4id per lb, light 4£d, prime ewe 4d, and light and aged 3*d. Lambs: A penning of 246 lu.' 1. The offering was comprised of \. ..i-growu prime lambs of varying weights, with a small proportion of medium sorts. The demand was very fair, and prices were on a par with last week's. Heavy prime lambs made from 28s 3d to 30s, mediumweights 24s 9d to 265, lighter 21s to 235. Lambs made from 8d to 9d per lb. Fat cattle: A yarding of 283 head. There was a capital entry of bullocks, including some consignments frdm the south. The quality all round was good, and the proportion of cows wa6 comparatively 3mall. At the opening of the sale the demand was quiet and prices were much the same as the previous week's, though as the sale progressed a tendency towards lower rates was shown. Extra prime bullocks made from £ls to £l6 ss, prime £l3 5s to £l4 15s, lighter £8 5s to £11; heifers £7 15s to £ll ss; cowb £7 5s to £8 15s; extra cows up to £l2 10s. Extra heavy bullock beef made 41s per 1001 b, prime light 36s to 37s 6d, prime heifers 32s 6d, and cows and light heifers 20s to 27s 6d. Stole cattle: A yarding of 231 head, mainly of mixed cows and young cattle of medium quality. An odd pen or two of two and three-year-old steers were included and brought £7 10s per head, while some three-year-olds were passed at auction. The balance of the cattle realised about last week's rates. Pig 6: A penning of 89 fats and 43 stores. The market was practically unaltered. Bacon pigs made up to about £5 10s, and porkers to about £4 10s. WAIKATOMARKET REPORT The Farmers* Co-op. Auctioneering Co., Ltd., report:—Plenty of both prime ox and cow beef is offering in the yards and paddocks, the supply exceeding the demand, with prices considerably easier, prime ox being equal to 29s per 1001 b, and cow and heifer 255. Although prices are a little easier the market is firm for prime sheep, but w© are likely to see a drop, especially for ewes, as export prices for this class are very low. There is a good inquiry for wethers, hoggets and ewes, and lambs out of the wool, but f>rices are a lot lower than this time ast season. Big yarding© of store cattle have been coming forward, and although feed is plentiful there has been a decline in prices, due, no doubt, to the drop in fat cattle. The pig market continues firm for baconers and porkers at about 6d per lb, the bacon companies operating at this figure, stores eti 11 meeting with good competition at high prices. A few useful farm horses are wanted, with little inquiry for heavy draughts and light horses. We quote:—Prime extra heavy bullocks £ll 10s to £l3, medium £9 Is to £10; prime cows £7 to £B, medium £6 to £6 10s, unfinished £4 5s to £4 15s; prime heifers £8 to £9; four-yeaT forward steers £7 to £7 ss, three-year stores £5 10s to I £6, good two-year steers £4 5s to £5; good yearling steers £3 to £3 10s; good yearling heifers (Jersey) £4 10s to £5 10s; good fresh empty cows £3 10s to £3 15s; aged store cows 30s to £2; choice in-calf dairy heifers, be6t Jersey cross, £lO to £lO 10s; 24-year Jersey cross springing heifers £9 10s to £10; 2s-year Snorthorn dairy heifers £8 Is to £9 10s; good dairy herds (tested) £lO 10s to £l3; others £7 to £8 10s; prime woolly heavy wethers 33s to 345, medium woolly 27s to 295, heavy shorn 24s to 265, medium shorn 21s to 22s 6d; heavy woolly ewes 22s 6d to 245, light woolly 20s. to 21s, shorn 17s to 20s; shorn four-tooth store wethers 21s to 22s 6d, two-tooth 18s to 19s; four, six and eight-toothed ewes with lambs 27s 6d to 335, five-year with lambs 26s to 28s, aged with lambs 17s to 18s; fat hoggets 24s to 255, good store woolly 17s 6d to 18s 6d, small woolly 11s 6d to 12s, good shorn 15s to 16s* prime bacon pigs £3 12s 6d to £3 16s, medium £3 5s to £3 10s; porkers £2 15s to £2 18e, slips 38s to £2, weaners 17b to 245; heavy draught horses £35 to £43, medium £2B to £32, spring-cart sorts £l6 to £lB, harness horses £8 to £lO, hacks £5 to £B.

SYDNEY WOOL SALES VALUES UNCHANGED. •'* Telegraph.—Press Assn —Copyright. (Received December 3, 9.35 p.ru.) SYDNEY, December 1. Tlie eighth series of wool sales ended to-day. The next series opens on Dej cember 13tli. 1 Values were unchanged for all wools showing quality, and there was good , general competition. Values of burry and broad wools were still irregular, and such wools were difficult to sell. Greasy merino sold to 30d. ARGENTMCOMPETITION , The New Zealand Dairy Produce 'Board's Argentine corrcs]>ondent states: —The Argentine Minister for Agriculture has appointed a committee, formed by representatives of the Argentine Rural Society, Centre of Dairy Industry, and members of the General Railway Directorate, Commerce, and Industry, and Live Stock Society, whose object will be to determine with the greatest possible accuracy, all the factors which are indispensable in order to maintain and develop the industrial and economical progress of the dairy industry. Tho results which the committee arrives at will most probably mark the commencement of energetic measures on behalf of Argentine Government, and the adoption of methods which will lead to dairy industry of this country into a better defined policy, which it has been lacking hitherto. I shall keep you informed as to future developments and report of the investigation committee. The Customs revenue received at the port of Wellington yesterday aggregated .£4099.

WHOLESALE PRODUCE PRICES Messrs Laer£* find Co., Ltd., report wholesale values as follow: Tikaka mixed fowl feed, 5-sack lots or over 6s 6d, lesser lots 6s 9d per bushel, sacks in; linseed meal, 16s; linseed nuts, 14s. per'loolb bag; whole linseed, 20s 6d cwt; Tikaka oyster shell grit, 5-sae.k lots or over ss, Ipsser lots 5s 6d per 1001 b; Tikaka pipi shell grit, fi-sack lots or over ss, lesser lots 5s 6d per 1001 b; oats; machine-dressed seed Algerians ,6s Id to 6s 3d, Duns 6s 3d, feed 4s 6d, crushed 5s 6d, black oats 5s 6d per bushel, sacks in; Algerians 4s 3d; shelled oats, for chicks, 6s 3d bushel; South Africajrmaize, whole 7s 3d, crushed 7s 9d per bushel; barley, feed, 5s 6d per bushel; wheat, Australian milling, 7s 9d per bushel, sacks in; wheatmeal, feed, ton lots £l6; undergrade Gartons, for pig feed, 3s lid per bushel, in 10-sack lots; ryecorn, 10-sack lots or over 6s 7d, lesser lots 6s 9d per bushel; rye corn, for pig feed, 5a per bushel; eggs, first grade new-laid zs 3d to 2s 4d per dozen, storekeepers' lines 2s 2d per dozen; butter, prime farmers* separator lid, dairy bulk and pats lid to Is per lb; turkeys, Is 2d to Is 3d per lb; ducks, .Runners, young, 10s to 126, large Whites !4s to 15s, old 9s per pair; fowls, White Leghorns 6s to 3s, Black Orpingtons and similar heavy varieties 10s to 12s per pair; roosters. White Leghorns, 8s to 9s; fungus, New Zealand, 9d to 10d per lb; dressed pork, 60*s to 90’s, 8d to 9d per lb; sucking pigs, Bjd to 9£d per lb; honey (discoloured), in 601 b tins, 5d per lb; Farro food, |-ton lots or over £lO, lesser lots 10s 9d; eucrosine, f-ton lots or over £l2 10s, lesser lots 13s; feed peas and beans 7s 3d per bushel, sacks in; rock 6alt, 6s per bag; molasses, in casks 40s each, in cases 8s 6d per case; Blenheim chaff, ton lots, prime £lO 15s, good heavy £9 5s to £lO per ton, sacks in; mutton birds, in kits cooked and salted, lid per bird; basic slag, £5 per ton; superphosphates, £3 16s per ton, f.o.r. New Plymouth, less discounts; Chinese peanuts in shell, sack lots, 4sd per lb; Java shelled peanuts, sack lots 4Jd per lb; bran, £-ton lots or over £9 per ton, lesser lots 9s 6d per cwt; pollard, i-ton lots or over £ll per ton, lesser lots 11s 6d per cwt; Tikaka chick-rniser, coarse, 21s per 1001 b bag; Tikaka pigmeal, £ll 15s per ton for-ton lots, lesser lots 10s 1001 b; Moreg poultry spice, cases containing 40 packets £3 10s case, lesser lots 2s 6d; Black Leaf 40in spray, 2lh tins 13s each, 101 b 50s each, net; potatoes, Dakotas, ton lots, Canterburygrown, £5 10s to £5 15s per lod : seed potatoes, Arran Chief £6 10s, Gamekeeper £7 ss, Red Dakotas £8 per ton, all South Island-grown; potatoes for pigs or poultry, 4s per sack; new potatoes, 13s to 15s cwt; seeds, white clover Is 9d, cowgrass Is €d, cocksfoot Is 4d per lb; Italian rye, 7s, perennial Bs, western wolths 7s per bushel

LONDON WOOL SALES LEVIN AND CO.'S CABLE. Messrs Levin and Co., Ltd., have received the following cable from their London agents, dated November 30th : The auctions continue fairly animated at about opening rates. The following prices are current: — Merino, super, 23d to 26d per lb, average 2td to 23d; fine halfbreds, super 56 to 58’s, 23d, average Slid: medium hnlfbreds, super 50 to 56V, 18d to 20d, average 17d to 18d; coarse 'halfbreds, super 48 to 50’s. l€d per lb, overage lid to 15d; fine crossbreds, super 46 to 48’s, lid to 15d, average 13d to 14d; medium crossbreds, super 44 to 46’s, 13d to 14d, average 12d to 13d: coarse crossbreds, super 40 to 44V, 12i<l to 13id, average 12d to 124 d; loir crossbreds, super 3G to 40V, liM to 13d. average 36 to 40V. lHd to 12H: pieces, 9Jd to ltd; bellies, 9Sd to 10}d ; locks, .7d to Bd,

DAIRY PRODUCE MARKET BUTTER MARKET STEAD'S.. Messrs Dalgety and. Co., Ltd., report having received the following cablegram from their London house, under date of the 30th ultimo :—Butter —Market steadv. We quote last season’s stored first grade New Zealand, 156 s to 158 s. P. AND oTyEArTeYIEWED SHIPS WILL BE CONVERTED TO OIL-BURNERS EXPERIENCE SATISFACTORY. Australian and N.Z Cable Association* LONDON, November 30. The Peninsular and Oriental Shipping Company’s credit balance i$ .£919,096 and the reserve for the to* demption of debentures is £274,687. The amount carried forward is £133,136. The report states that, thanks to the conservative policy hitherton adopted, and not to profits made, the directors are prepared to propose a dividend of 10 per cent, on preferred stock. Tlie experience of oil fuel having been satisfactory, the Narkunda and Noldera will b© converted from coal burners tc oil burners as soon as possible. LINSEED MARKET The Department of Agriculture has received the following cablegram, dated November 30th, from Calcutta, with re« ference to the linseed market:—Linseed —We quote £l6 for linseed per ton net, c. and f. Sydney, immediate shipment. Market quiet.

Government Loans — Inscribed Stock (1939) 96 15 0 97 2 6 Inscribed Stock (1938) 96 15 0 — Inscribed Stock (1933) 100 12 6 100 15 0 Inscribed Stock (1936) 100 10 0 — War Bonds (1939) 96 15 0 — War Bonds (1938) 96 15 0 — War Bonds (1930) — 98 5 0 War Bonds (1940) — 97 0 0 Debentures— Wellington Gas 100 0 0 N.Z. Breweries (stock) — 1 5 3 N.Z. Breweries (bonds) — 1 5 0 Banks— Commercial of Australia (ord.) 1 12 4 New South. Wales 45 0 0 *45 10 0 New Zealand 3 0 0 3 0 9 New Zealand (rights) 0 6 6 — Union of Australia... — 15 6 0 Financial— N.Z. Guarantee Corp. (ord., 8s) o 10 6 Wn. Deposit & Mortgage — 0 10 4 W r i g lit, Stephenson (ord.) 1 4 6 W r i g ht, Stephenson (pref.) — 0 17 6 Gas — Gisborne 0 10 6 _ Wellington (ord.) — 1 7 0 Insurance— New Zealand , 1 19 3 Standard — 3 0 0 Meat Preserving— N.Z. Refrigerating (10s) 0 7 0 Gear 1 16 6 1 17 6 Transport— P. and 0. Deferred Stock *250 0 0 Woollen— Kaiapoi (pref.) _ 0 16 0 Wellington (ord.) 6 11 0 6 12 6 Wellington (pref.) 6 11 0 — Wellington (new issue) — J6 10 0 Coal— Waipa ' 0 15 6 Timber— Leyland, O’Brien 1 2 2 0 Breweries— Crown 1 0 0 New Zealand 2 11 9 Miscellaneous— C. M. Banks (ord.) ... 1 2 6 Burns, Philp and Co. 1 18 9 — Electrolytic Zinc (ord.) 1 16 3 1 17 0 Electrolytic Zinc (pref.) 1 17 0 1 17 9 Howard, Smith 1 12 6 N.Z. Milk Products... 1 2 6 Scoullar and Co 1 2 9 Sharland and Co. (ord. and pref.) _ 1 2 6 Wairarapa Farmers’ (pref.) 0 16 3 Wn. Queen’s Theatre 1 0 0 — Wilson’s Cement — fl 13 9 Mining— Blackwater Mines 0 5 7 Mount Lyeli *1 9 0 — Waihi 0 17 6 —