PRODUCE MARKET QUIET

Sun (Auckland), Volume I, Issue 215, 30 November 1927, Page 14

PRODUCE MARKET QUIET

POSITION IN CANTERBURY j Press Association. CHRISTCHURCH, Tuesday. The broken weather is interfering with business in respect of next year s produce. There is an amount of speculative interest in most classes of cereals and seeds, but the unseasonable weather is making: operations somewhat Quiet. Much more of the rain that has been so plentiful will mean a diminished seed crop, with consequently higher prices now that export has cleared the boards of old stocks. On the other hand a favourable season from now on will mean an ample crop with naturally a slow market. 1. ndei such conditions there is very little speculation, and values for practically all kinds of produce are unchanged. Wheat is worth 6s lOd f.o.b. tor milling and a halfpenny more for fowl. Next season's crop has been sold to very litue extent under 5s 9d on trucks. It is understood that as a_ result of advance in price of Continental cocksfoot and the certainty of it not being imported into New Zealand this season, the area closed up on the Peninsula is much larger than last year. There is still a straggly demand from the South for potatoes, nut to all intents and purposes the season is over for old ; tubers. On spot offerings are worth £0 ; 10s ofi trucks, but the price is slipping. HIGH WOOL VALUES SALES AT SYDNEY By Cable. — Press Association. — Copyright. SYDNEY, Tuesday. The wool sales repeated yesterday’s features. and crossbreds sold exceptionally well at very full prices.—A. and N.Z. 4 , * . , > . SOUTHERN EXCHANGES YESTERDAY’S SALES Wellington: Bank of New Zealand, 60s; Union Bank, £l4 11s. Christchurch: New Zealand Government Inscribed Stock, 5i oer cent., 1933. £lOl ss; English, Scottish and Australian Bank, £7 12s 9d; National Bank of New Zealand. £6 17s 6d; South British Insurance. 56s 9d: National Bank of Australasia ( £lO paid, cum div.), £l7 10s; National Bank of Australasia (£5 paid, cum div.), £S 13s; Dalgety and Company, £l3 (two); New Zealand Refrigerating (£1 paid). 17s Id; New Zealand Refrigerating (con.), Ss 3d; Christchurch Gas (new, 5s paid). Os 7d; Electro. Zinc (pref.), 31s lid (two); Bank of Adelaide, £S 12s 9d: Bank of New Zealand, 60s 3d; Wellington Gas, 27s 5d (three). Dunedin: Waihi. 21s 9d, 21s Sd (two), 21 7d; Union Bank (old). £l4 10s; New Zealand Breweries, 425; Dominion Rubber, 46s 6d. NORTH CANTERBURY FREEZING CO., LTD. (Special to THE SUN.) CHRISTCHRCH, Tuesday. A recommended dividend of 6 per cent., absorbing £5,094, and leaving £1,751 to be carried forward, is tangible evidence of a profitable year’s operations of the North Canterbury Sheepfarmers’ Co-op. Freezing. Export and Agency Company. Ltd. The sum of £4,482 16s lOd has been w r ritten off buildings, plant and machinery for depreciation. Stocks have been valued conservatively and the profit is £6,875. FRANKTON STOCK SALE (From Our Own Correspondent) HAMILTON, Tuesday. Dalgety and Company, Limited, report having held their annual weekly stock sale at Frank ton saleyards on Tuesday, November 29, as under: — There was a heavy yarding of fat cows and heifers. No fat steers were yarded. Prices, generally, were a little easier than the previous week. Heavy prime fat cows, £8 5s to £9 4s; lighter prime cows from £6 5s to £7 15s; prime fat heifers, £7 5s to £8; light sorts from -£5 ibs to £6 10s; rougher cows from £4 5s to £5 10s; rough store cows from 30s to £2 15s. Fat .sheep were yarded tn large numbers, and the quality was superior to last week. Extra prime fat wethers from 26s to 28s; light weights, 24s 6d to 25s 6d; extra prime heavy-weight ewes, 22s to 22s 6d; light-weights, 18s to 20s; store 2 and 4-tooth in poor condition, 21s 6d; cull 2tooth wethers, 17s; 4-tooth ewes in wool, with 100 per cent, lambs, £2 7s 6d. There was a large yarding of all classes of pigs, which were easier. Heavy baconers, £2 8s to £2 12s; best porkers, -£2* 8s to £2 7s; light porkers, £1 18s to £2 Is; choppers* £2 10s to £3 18s; best stores, £1 12s to £1 15s; medium ditto, £1 10s to £1 12s; best weaners, 14s to 16s 6d; small ditto, 10s to 12s. The Farmers’ Co-operative Auctioneering Company, Limited, report that at the Frank ton stock sale to-day it had a full yarding of cow and heifer beef. No steers were penned. Prime good quality cattle were scarce, but values for all classes weer easier than last week. There was a gdod yarding of fat and store sfyeep. All fat sheep were slightly easier. Steers sold at firm rates. The usual heavy yarding of fat and store pigs came forward. Baconers and stores sold at unimproved rates. Fat porkers were firmer. Quotations are:— Beef: Heavy fat cows, £8 to £8 2s 6d; prime medium-weight cows, £7 15s to £7 16s; plain heavy cows, £6 to £6 17s; medium-weight fat heifers, £7 3s to £7 ss; light, £5 14s to £5 17s: unfinished cows and heifers, £4 9s to £5 ss; vealers, £1 17s to £2 16s; store cows, £2 15s to £3 17s; choice Jersey heifers at profit, £l2 5s to £l2 15s; others, £6 to £8 10s. Sheep: Best fat wethers, 26s 7d to 26s 9d; fat -woolly hoggets, 28s 6d: prime shorn two-tooth wethers, 255; medium, fat ewes, 19s 3d to 20s 3d; small fat lambs, 19s lid; store ewes, 14s to 17s; medium, two-tooth store wethers, shorn, 21s 4d; culls, 17s 7d; shorn ewes with lambs, 16s 6d, all counted. Pigs: Heavy baconers, £2 8s to £2 12s; light, £2 3s to £2 6s; heavy porkers, £2 5s to £2 10s: light, £2 to £2.35; .goodstores, 33s to 37s 6d; slips, 22s to 265: best weaners, 15s to £1; small, 10s to 12s. N.Z. FARMERS’ DISTRIBUTING CO. A net .profit of £5,005 for the year ended September 30, as / compared with £2,524 for the previous year, is shown in the balance-sheet of the New Zealand Farmers’ Co-op. Distributing Company, Ltd. Of the net profit £2,000 is to be transferred to a property depreciation reserve, and £I,OOO is to be added to the reserve for bad and doubtful accounts. The balance of £2.005 is to be carried’forward. Last year the directors decided to write off ascertained losses and to accomplish this the nominal value of the A shares was written down from £1 to 14s each, and the B shares from £5 to £3 10s. This enabled the company to extinguish the accumulated losses, to create a reserve of £3,000 for bad 'and doubtful debts, and to provide £4,000 to cover depreciation on certain properties. TATTERSFIELD, LTD. Despite a general trade depression and expenditure on large additions to buildings and machinery, the firm of Tattersfield. Ltd., had a most satisfactory trading season for the year ended September 19, 1927, according to the annual report. After provision for depreciation and book debts, the profit available for appropriation is £7.180 14s 7d. The directors propose the payment of a dividend of 8 per cent., absorbing £4,399 18s Bd, of which 4 per cent, has been paid as an interim dividend; the reserving of £1,780 15s lid for income tax; the distribution of £BSO to the staff by way of profitsharing bonus, and the payment of £l5O as directors’ remuneration. DEVONPORT FERRY CO. An interim dividend at the rate of 7i 1 pgr cent, per annum has been declared ] by the directors of the Devonport Steam 1 Ferry Company, Ltd., for the six months ended October 31, 1927. The dividend will | be payable on December 14. ! The company paid a dividend of Ti per cent, for the year ended April 30, | The last sale of the £1 fully-paid shares i Wi * s P u l through at ih* Auckland Ghan*fc _