Markets and Money

Sun (Auckland), Volume I, Issue 120, 11 August 1927, Page 2

Markets and Money

ON ’CHANGE KAURI TIMBERS IMPROVE ALBURNIAS WEAKER A distinctly brighter tone was rej corded on ’Change yesterday afternon. : but business was quiet again this I morning. Banks were active, and New Zealands were reported at £2 18s 9d. Unions were done at £ls. In the loan and, finance section Farmers’ Auctioneering B pref. shares saw a sale at 14s lid. Mining continues dull and idle. Kawaraus were reported yesterday afternoon at 10d. Buyers for most shares in this section have withdrawn right off the market. Alburnias have weakened to see a sale at mid-day at 3s 6d; buyers then withdrawing to 3s 3d. The gilt-edged market is quiet, though quotations are practically unaltered. In timbers, Kauris have improved to see buyers at £ 1 4s, and no sellers. SALES REGISTERED At yesterday afternoon’s call: On ’Change.—Auckland Gas, 22s lOd. Reported.—Devonport Steam, 14s; Bank of New Zealand, £2 18s 6d: Union Bank, £ls; N.Z. Insurance, £1 19s 6d; Farmers' Auctioneering, B (pref.), 14s lid; Kawarau, lOd; N.Z. Breweries (debentures), 23s 9d. At this morning’s 10 o’clock call. — On ’Change.—Alburnia, G.M. Co.. 3s 7d. At to-day’s mid-day call.—On ’Change.—Alburnias, 3s 6d. MID-DAY QUOTATIONS Closing quotations at to-day’s midday call were:

A Review for Business Men

STOCK VALUES WESTFIELD REVIEWED LIGHT EWE YARDING i Sheep firmer by 2s to 3s a head: ! an extremely poor quality entry of cattle which sold at firm values: a large entry of vealers with small calves predominating and competition keen; pigs meeting a firm market, with porkers making improved prices—these were the features of yesterday’s Westfield stock sale. The large yarding and easier values ! of the week before evidently frightened sellers away, for the entry of cattle was the shortest seen for some time, and the quality generally most decrepit and poorly finished. Top price was £ls. Prices in isolated instances tended to show an improvement op late sales and, considering the quality of some of the poorer quality lighter cattle, prices were firmer for the lower grades. The sheep offering was an coverage one for this time of the year, though the pen which brought top price, a line of Opotiki wethers offered on account of C. Black, was practically the best-finished line seen at the yards this season. No really extra prime line of ewes came forward, and the majority were light and could have done with considerably more finish. Prime ewes male up to 33s 6d. There was only a small offering of lambs and the best, which were not extra prime, made to 27s 6d. There was an average entry of fat pigs, the quality being firfct-claes. Baconers realised late rates. There was a keen demand for porkers, and a brisk sale eventuated, with improved prices. Heavy choppers made £4 15s to £5 16s; medium, £3 5s to £4 3s; heavy prime baconers, £3 12s to £3 16s; no extra heavy offered; medium baconers. £3 8s to £3 10s; light, £ 3 4s to £3 7s ; heavy porkers, £3 3s to £3 7s; medium. £2 18s to £3 Is; light, £2 12s to £2 15s; sn&U and unfinished, £1 19s to £2 10s; good framed and conditioned stores, up to £2 2s: smaller, £1 14s to £1 16s; slips, £1 5s to £1 7s; weaners, 16s to £1 3s. COUNTRY SALES The New Zealand Loan and Mercantile Company report holding sales during the past week at Westfield, Pukekohe, Ngatea, Paeroa, and two clearing sales. Values for all classes of livestock were firm at late quotations. The firm quotes: Best dairy cows and heifers, close to profit £IC 10s to £ls; others. £7 to £lO ss; backward springers, best £7 15s to £lO 15s; others, £4 to £7 10s; bulls, £2 10s to £10; empty cows, £2 to £3 15s; boner cows, £2 to £4 ss; yearling heifers, best, £3 to £4 10s; others, £1 to £2 15s; vearling to 18-inonths steers. £2 10s to £3 17s 6d; two to two and a-half year steers, £4 to £4 17s 6d; three to three and a-half year steers, £5 to £5 17s 6d; four to four and a-half year steers, £6 to £6 17s 6d: grown steers in forward condition, £7 to £7 15s; beef at fully Westfield quotations. AMERICAN COTTON CROP DECREASE ALARMS TRADE By Cable. —Press Association. —Copyright LONDON, Wednesday. The announcement that the American cotton crop is expected to be 4,500,000 bales less than last year has alarmed the Lancashire trade. Raw cotton has risen suddenly twopence a pound. It is reported that a few firms made large profits. The Master Cotton Spinners Association has recommended that all mills spinning American staple shall close for a week, in addtion to the annual months holiday. The association says the condition of the trade is deplorable. Business on the Manchester Exchange is at a standstill. —A. and N.Z. COST OF LIVING IN AUSTRALIA DECREASES SHOWN According to the report of the Acting Commonwealth Statastician, Mr. E. T. McPhee, there was no increase in the cost of living in New South Wales and Queensland during the month of June, compared with the preceding month. In Western Australia there was a decrease of .7 per cent. Three of the States showed increases—South Australia 2 per cent., Victoria 1.5 per cent, and Tasmania .2 per cent. Compared with June of last year, all the States showed decreases, the greatest being in Queensland. 8.3 per cent. Then- came Victoria 6.7 per cent,. South Australia 6.1 per cent., Tasmania 6 per cent., Western Australia 4.7 per cent., and New South Wales 3.7 pe.r cent. The increase in the cost of food and groceries since July, 1914, has been greatest in New South Wales—--54.2 per cent. POTATO STATISTICS GROWERS TOO OPTIMISTIC NEW SYSTEM FOR FUTURE Press Association. WELLINGTON, "Wednesday. A statement regarding potato statistics was made in the House today by the Minister of Internal Affairs Hon. R. F. Bollard. The Minister said that early inquiries made by the statistical department proved that farmers were over-optimistic as to the crop results and that their estimates had not been borne out by the actual results, especially in Canterbury, Otago and Southland, where the weather conditions considerably reduced the yields anticipated. It had been decided, therefore, so f<Tr as futur© years were concerned, that interim estimates for potato yields would not be published, but every endeavour would be made to complete verification in time to include in the interim returns for agricultural production the verified results for potato yields. It was intended also to obtain particulars as to the yield of table potatoes separately for inclusion in the statistics.

PROPERTY AUCTIONS William A. Horne, Ltd., will sell bv H^rne’s aU BuilSm at theh ‘ auction rooms, i Bui *dings, corner High Street and Vulcan Lane, to-morrow, Fridav August 12, at 1 p.m., bv order of the ‘amf c “nven7£,eSf on”*elouJS 1 Papa’toetoe. 8 ’ * itU “ t * d GrCat South Road!

RUAKURA PEDIGREE PRHjj JERSE t BULL MAKES 50GNS (From Our Oxen. r- r - linn HAMILTON, To-dav A herd of 56 pedigree cattle - posed of at the annual sale of . Kuakura State Experimental sale yesterday. Top price wa* tor the Jersey yearling bull herino. This changed hands „ guineas, to Gore and Livinmtk Tuhikaramea. ng *' 0 -' Ayrshires averaged 23i g uin ,, yearling shorthorn bulls 231 S and yearling Jersey bulls w guineas. -i MEAT TRADE DEPRESSION BOARD MEMBER’S VIEWS (From Our Own Correspondent) WANGANUI, Wed needs' In the course of an address befcthe local branch of the New Zeal - Farmers’ Union to-day, Mr T Duncan, a member of the Meat reducers’ Board, said the position in ;k beef industry was serious.- There*, over-production in the Argentine c until matters became more normal - that country, there was not muci chance of New Zealand beef incressn in price. EAST TAMAKI DAIRY COY. A SUCCESSFUL YEAR Though the East Tamaki Dairy Co. had a record season last year, and the company is now out of debt, this year with the Control Board out of the way should be an even better one. according to the chairman, Mr. T. D. Onnijton, at the annual meeting of the company held this week. The report showed the output for th? season to be nearly 4i>o tons. 80 per cent, of which was graded finest quality. The directors had adhered to th* policy' of disposing of as much butte: on the local and Australian marker as possible. Thus only' a small port: of the output had passed through t: hands of the Control Board. MINING NEWS HAURAKI CONSOLIDATED. - Tie manager reports.—The un watering is completed and one tank has been replace with a cage, the other being left on : deal with the sludge from the floor «f the level. The flat sheet at the W: level has been laid, also about <'■ new road to the first fall, which is now being removed. There is another r.. further in, after which all is clear to face of the crosscut for the Haora? North reef system, which we expect reach this week. A start to enlarge tr 400 ft. chamber, preparatory to copimer. ■ mg sinking the shaft, will be made in day or two. The pumping and windrc; machinery along with, the shaft guidb are being overhauled as occasion allow? the main plunger pump is easily deal's with the incoming water at about nit* strokes per minute; all the adjoin: mines are also unwatered, so ther* nothing to prevent shaft sinking bear undertaken right away. The machinr is capable of going down to a I,OW ** if required.

Sellers. BANKS— £ s. d. £ s. d. Com. Bank of Aust. Nat. Bank of N.Z. 6 16 Nat. Bank of Aust. 17 New South Wales . . 45 5 0 New Zealand . . 2 Ditto (10s paid) .. 0 Ditto (20s paid)-.. 1 6 9 Union of Australia 15 2 0 14 18 6 INSURANCE— National New Zealand . . 2 0 0 South British . . . . 2 18 0 17 3 LOAN AND AGENCY— Farmers’ Co-op. Auct. Ditto B (pref.) .. 0 15 4 Coldsborough, Mort (rights) 0 8 9 Newton King (pref.) 0 34 0 N.Z. and River Plate 1 8 0 1 0 N.Z. Guarantee Cor. N.Z. Loan and Mere. 0 Ditto (pref.) .. . . — SO 0 0 COAL— Renown a Ditto (pref.) .. .. 0 7 0 0 6 Ditto (A pref.) .. 0 6 0 0 5 Pukemiro 3 laupiri 1 5 6 1 4 6 Ditto (pref.) .. .. 1 6 14 GAS— , Ditto (con.) . . . . 0 17 Birkenhead & Northcote 0 17 0 — SHIPPING— Devonport Steam . . 1 4 9 * . Hu ddart-Parker 2 8 3 Ditto (pref.) .. .. ■ 1 1 0 Northern Steam 0 14 0 13 9 Ditto (con.) .. .. 0 6 10 P. and O. (def. stk.) 290 0 0 Union Steam (pref.) 1 0 3 — TIMBER— Bartholomew Kauri Timber . . . . Parker-Lamb . . .. 1 2 6 BREWERIES— C. L. Innes (pref.) 1 0 0 N.Z. Breweries . . .. 2 4 0 2 1 0 MISCELLANEOUS— Auck. Am us. Park 0 11 6 0 10 9 A. J. Entrican & Co 0 19 0 Burns, Philp «£ Co. 19 0 Bycroft, Ltd. 1 10 0 ('hecker Taxicab .. 0 18 6 Colonial Sugar (Aust.) 52 15 0 52 0 0 Dental and Medical 0 16 0 Dominion Pictures . . 1 0 0 Ditto (pref.) .. .. 1 0 0 Electrolytic Zinc (pref.) 1 12 6 Gear Meat Co. 1 15 6 Grey and Menzies .. 0 12 6 0 9 6 Hamilton Theatres . 0 18 9 Hill and Plummer. . 1 2 6 1 1 9 H.M. Arcade (pref.) 1 0 0 Kempthoi'ne Prosser 5 Milne and Choyce .. 1 4 Ditto (pref.) .. .. Ditto (B pref.) . . 1 Ditto (deb. stck.) 1 4 0 N.Z. Farmers’ Fert. 4 N.Z. Paper Mills . . 0 17 Phillipps and Impey Robinson Ice Cream 1 — Taranaki Oil . . 0 8 Thames Theatre 1 0 15 Tonson Garlick .. .. — Whittome Stevenson 5 Wilsons Cement — MINING— Alburnia 0 3 6 0 3 3 Caledonia - Kuranui Moanataiari (paid). 0 3 0 — Ditto (new issue) Kawarau Komata Reefs .. .. 0 0 3 Lucky Shot (2s pd.) 0 0 Ditto (con.) . . . . 0 3 10 Maoriland (con.) . . 0 1 Majestic 6 Mt Welcome (paid) 0 New Waiotahi (4s 0 1 1 0 0 0 0 10 0 0 6 Nonpareil (con.) . . 0 0 0 0 1 Occidental-Una (con.) 0 0 0 4 Waihi 3 9 19 Waihi Grand June. 0 1 7 0 1 AUSTRALIAN— Mount Lyell .. .. 1 S 3 — DEBENTURES— Auckland Gas, 1932. 5 96 0 0 90 0 0 Ditto, 192S, 6i . . 101 0 0 99 0 0 Auckland Harbour Ditto, 52 p.c 101 10 Ditto, 6 p.c. .. .. Boro, of Devonport, 6 per cent Bor. of Gisborne, 51 N.Z. Breweries, Ltd. 1 10 Glaxo — ss GOVT. BONDS— 98 0 0 97 10 0 Ditto, 1938, 4J .. 97 0 0 Ditto, 1933, 5-\ 100 15 Ditto, 1936, 5i — — 101 0 0 INSCRIBED STOCK War Loan, 1929, 5 .. — 98 5 0 Ditto, 1938, 4i 96 15 0 Ditto, 1927-41, 51 — 98 0 0