COMMERCIAL.

Southland Times, Issue 18837, 2 June 1920, Page 2

COMMERCIAL.

WALLACETOWN SALE. A DRAGGING MARKET. The fortnightly sale was held in the Wallacetown yards yesterday, there being a good entry of all classes. The sale was lifeless throughout, and although a considerable amount ol business was lione privately after the sale, lines were hard to quit at auction. FAT CATTLE.—-The quality penned was only medium, with a few p>ena of really prime bullocks. The sale was spiritless, and unless stock was well finished the demand was poor. Prices showed a further drop, more especially for medium quality stock. The top price was obtained by Messrs Wright, Stephenson and Co., Ltd., for a well-finished Hereford bullock on account of Messrs ' Muirhead Bros., Otapiri, which was knocked down at £26 to Mr W. Cundall. Other prices for bullocks follow: —Extra prime mediums, £lB 15/- to £2O; good mediums £l3 to £l6, light and unfinished £9 12/6 to £ll 15/-. There was little demand for cow or heifer beef unless well finished. Cows sold at from £lO 12/6 to £l4 for good fresh sorts, others ranging from £8 to £9 17/6, with little business doing. Heifers ranged from £G 12/6 to £7 17/6. STORE CATTLE.—The market' was dead throughout, the recent bad spell having an influence on sales. Prices showed a decline on the previous sale, and the bulk of the yarding was passed at auction. FAT SHEEP.—The 'sale opened lifeless, and although the stock offered was good average quality, bids were hard to obtain. It was only when pens of prime quality were offered that bidding was keen. The prices in the bulk of the yarding showed a decline although heavy sheep commanded good prices. The top price was obtained by the National Mortgage and Agency Co., Ltd., with a pen of 23 well-finished wethers sold on account of Mr A. Forbes. Lochiel, and purchased by Mr A. Cundall after spirited bidding at £2 10/-. Prices for wethers obtained at auction ranged from 40/- to 50/- for heavies, and from 33/2 to 3S/3 for medium weights. Ewes sold at from 2S/6 lo 38/7. Fat lambs did not meet with a keen demand, and prices at auction ranged from 22/6 to 27/-. STORE SHEEP.—The store sheep pens contained a good yarding, but prices were below vendors’ reserves ami little business was effected. Tire following table shows the entries for the last three sales;—

Southland Farmers’ Co.-op. The Southland Farmers’ Co.-op. Association report sales as follow :—Fat Sheep—l2 wethers 40/9, 28 do. 40/-, 51 ewes and wether- 35/7, 9 ewes 38/7. Store Sheep—--71 lambs 15/-, 40 do. 17/6, 35 two-tooth wethers 26/-, .30 f.m. ewes 15/-, 31 do. 14/4. Fat Cattle—l steer £2O. Store Cattle- —9 steers £7 11/-, 3 do. £5 14/-, 3 calves 22/-, 1 vealer £3 2/6, 1 do. £2 10/-. 1 bull £4, 1 do. £3, 4 calves 16/-. National Mortgage & Agency Co., Ltd. The National Mortgage and Agency Co., Ltd., report sales, as follow: Fat Cattle.—2 bullocks £l9 12/6, 1 fat cow £l4, 2 fat bullocks £l6 5/-, 2 do. £l2 10/-, 2 heifers £8 15/-, 2 do. £S 12/6, 4 do. £8 10/-. 1 fat cow £ll, 1 do. £l3 2/6. 3 bullocks £l4 17/6. Store Cattle.—2 steers £7 5/-, 3 do. £5, 3 do. £5 9/-, 9 do, £4 18/-, 22 empty heifers £6 14/-, 14 steers £9 9/-, 12 steers and heifers £6 6/-, 1 dairy cow £22, 1 do. £9 10/-, 1 heifer £9. Fat Sheep.—23 wethers 50/-, 21 do. 34/3, 21 at 33/9, 24 at 33/2, 21 at 33/1, 12 ewes - 21/-. Store Sheep.—lo9 2-tooth wethers 29/5, 106 f. and f. ewes 21/-, SO m.s. lambs 25/-, 10 do. 21/-, 20 do. 24/-, 13 at 23/-, 18 ewes 9/2, C old ewes 40/3.

Wright, Stephenson & Co., Ltd. Wright, Stephenson and Co., Ltd., report sales as follow: Fat Cattle. —2 cows £8 2/6 to Live Stock Co.. 2 do, £9 17/6 and 2 at £8 2/6 to Live Stock Co., 1 bullock £26 to Wm, Lee, 2 steers £lB 15/- to Mrs Humphries, 2 do. £ls 17/6 to T. C. Maltby. 5 steers £l2 10/to J. F. Price, 3 cows £6 35/- to Wm. 1 do. £8 7/6 to Win. Curran. 1 do. £l2 and 1 at £S lo R. Russell, 1 bullock £2O to W. Turpin. 1 do. £l9 12/0 to Live Stock Co., 3 do. £ls 15/- to Mrs Humphries, 2 do. £l6 to AV. Turpin. Fat Sheep.—22 wethers 49/6 to T. C. Maltin’, 19 ewe? 25/6 to Win. Lee, 1 lamb £1 to T. Preen, 2C wethers 38/3 to Live Stock Co,, 21 wethers 39/- to .7. C. Mackenzie, 07 ewes 24/7 to W. A. Bissctt. Dalgety & Co., Ltd. Messrs Dalgety and Co., Ltd., report having yarded and sold the following;— Fat Cattle.— Account R. Russell, 2 fat cows £ll 10/-, 2 fat cows £l3; account J. J. Caulfield, Grove Bush, 4 bullocks £l4. Store Cattle. —Account R. Russell, 3 bullocks £l6 5/-, 9 heifers £6 15/-; account F. Bennetts, 12 heifers £6; account W. J. Boyd, 8 empty cows £8; account F. Bennetts, 40 Hereford calves £3 17/0. Fat Sheep.—Account F. Clark, Roslyn Bush, 35 ewes 20/-; account Brown Bros., Mill Road, 3 lambs 28/-, 6 wethers £2 10/-; account AV. J. Boyd, 50 cwc.s 28/0; account A. Henderson, 10 ewes 28/6. Store Sheep.— Account A. Henderson, 50 wethers 33/-; account W. J. Boyd, 14 ewes and wethers 21/-; account A. Baird, 40 lambs 22/ CANTERBURY MARKETS. {Per United Press Association.) CHRISTCHURCH, June 1. The wheat trade is slightly brisker. A fair volume of business has been done in oats during the past few days, but there is no change to record in prices. Clover seeds are being purchased by merchants at slightly advanced prices, and this market is more animated now. The ruling rate for potatoes is £4. There is no change to report in tlic chaff market. MONEY MARKET. Dealing with the money market the New Zealand Trade Review of May 2? says:— As shown in our last issue the banks in New Zealand are more than amply supplied v.dth funds, having an excess of deposits over advances of over ISA millions. Money is undoubtedly plentiful here at present—lendings on mortgage show a large Increase, business on the Stock Exchange is fairly brisk, and general expenditure is on a high scale. Against thus, however, it is to be observed that the Bank of New Zealand is calling up its unpaid capital and the Bank of Australasia has increased its capital by £500,000. For some time past the prompt payment for, or advance against, our produce by the Imperial Government has been of very considerable benefit in easing the local money market. This has been specially helpful to the producers when shipping was scarce and produce had to be held in store for some time. However, the end of the Imperial commandeer is in view and producers will have to arrange their own finance. Unless the present accumulations of meat, etc., are moved and adequate shipping becomes available for next season’s produce, this financing will cause some heavy calls on the banks, and considerable depletion of the present surplus of funds. It is noticeable also that the scale of importation is growing, and for the first four months of this year exports were only about ‘a million in excess of imports. While not in any way anticipating any shortage of money, wo ex-

pect to see the cessation of Imperial purchases cause a considerable reduction in the surplus of funds in the hands of the banks, but this may probably have a beneficial effect generally.

Fat cattle May .'i . 110 . M ay 17. 75 May 31. 104 Store cattle . . 214 245 432 Fat sheep 615 1045 700 Store sheep . . 1060 1387 1135