TO-DAY’S QUOTATIONS

Sun (Auckland), Volume II, Issue 542, 20 December 1928, Page 16

TO-DAY’S QUOTATIONS

SOUTHERN EXCHANGES YESTERDAY’S SALES Wellington. —Australian Bank of Commerce, 33s 9d. Christchurch. —Commercial Bank of Sydney, £2B 2s 6d; Bank of New Zealand, 61s 8d; New Zealand Insurance, 46s 3d; National Mortgage, 88s 6d; Ashburton Cas, £5 3s 6d; New Zealand Breweries, 57s fid, 57s lOd (two parcels), 67s 9d (two parcels); Beath and Co. (rights), 5s lOd (three parcels), 5s lid (three parcels, 6s (three parcels). 5s lid (two parcels); Mahakipawa, Is 4d (eight parcels); Dalgety and Co., £ls ss. THE DAIRYING INDUSTRY N.Z. CO-OP.’S PAYOUT (From Our Own Correspondent) HAMILTON, Wednesday. Suppliers of the New Zealand Cooperative Dairy Co., Ltd., will receive an advance payment of Is 5d a lb for butrer, and Is fid a lb for cheese, on November supply. The Raglan Co-operative Dairy Co., Ltd., will pay out Is 4id a lb for superfine butter-fat for November. The payout for the month is £6,300, compared with £5.200 for November. 1927. For the season to date, £16.670 has been distributed, the amount for the corresponding period of last year being £13,415. BACK TO NEW YORK FORD’S ENGLISH STOCK (Australian and N.Z. Press Association) Reed. 9.5 a.m. NEW YORK, Wed. It is estimated that more than hall' of the 40 per cent, of the stocks sold by the Ford concern of England have found their way to New York, either through subscription allotments or purchases made on the London market by New York dealers. apparently against the express wishes of Mr. Henry Ford that the greater part of the company's recent stock issue remain with small investors in England. Approximately 200.000 shares were traded in the kerb market. CHICAGO WHEAT MARKET f Australian and N'.Z. Press Association) L>. d lo 32 a m. CHICAGO, Wednesday. vVii*at —December, l dollar 14i cents a -"‘eh**!. March, 1 dollar 184 cents; Mav. 1 WL 20* cents. I

Closiiag quotations at to-day’s mid day call wers;—

SYDNEY WOOL SALES MARKET STILL VERY FIRM (United P.A. — By Telegraph — Copyright) SYDNEY, Wednesday. At the wool sales 13,037 bales were sold. The market was very firm, with good competition. Prices were equal to the best of the week, and good clearances were made. Greasy Merino made •;id. DISTRICT STOCK SALES AUCTIONEERS’ REPORTS Auctioneers report on stock sales held throughout the district during the past week as follow; The New Zealand Loan and Mercantile Agency Co., Ltd., reports; Sales were held during the past week at Westfield, Warkworth, Papakura, Waiuku (pigs), and Kaukapakapa, and one clearing sale. All classes of cattle sold at late quotations Dairy cows and heifers sold readily. The herd of 21 dairy cows and heifers at Mr. Buchanan’s, Te Atatu averaged £ls, selling up to £l9. We quote—Dairy cows and heifers, best £ll to £l9, others £7 10s to £lO 10s; aged cows and inferior heifers, £4 10s to £7 os; bulls, £4 to £l2 12s, according to quality; store and boner cows, £4 10s to £6 15s; yearling to 18-months heifers, best £o to £6 10s, others £3 to £4 15s; yearling to 18-months steers, £4 10s to £5 15s; two to two and a-half year steers, £6 to £6 17s fid; three to three and ahalf year steers, £7 to £8 ss; four to four and a-half year steers, £8 10s to £9 15s; grown steers in forward condition, £lO to £ll ss.

Alfred Buckland and Sons, Ltd., report: During the week we held sales at W estfield, Pukekohe, Turua, Pokeno. Clevedon, and Runciraan, pig sales at Pukekohe and Waiuku, also two clearing sales. There were good yardings In all centres, and there was no alteration in the demand or values compared with recent sales. Best dairy cows at profit or recently calved made £ll 10s to £ls 10s; second grade cows, £S 10s to £11; other dairy cows. £4 10s to £8 ss; best springing heifers, £9 to £l3; other springing heifers. £6 to £8 15s; choice 18-months-old dairy heifers, r.w.b.. £7 to £9 ss; smaller heifers, £5 to £6 17s 6d’ other heifers, £3 10s to £4 17s fid; emptv young cows and heifers, £4 to £6 ss‘; boner cows and heifers, £3 10s to £6; heavy fat cows and heifers, £8 to £lO 10s; lighter, £5 5s to £7 17s 6d: fat steers, £lO to £l3 15s; grown steers in forward condition. £lO 5s to £11; four-year-old steers. £9 to £10; three to four-year-old steers, £7 15s to £9: two to two and a-half year old steers, £7 to £7 15s; yearling to 18-months-old steers, £5 5s to £6 17s 6d; best calves, £3 to £4 Is; smaller calves, £2 2s to £2 18s; small calves, £1 5s to £2: heavy bulls, £7 to £l2 ss; sound young herd bulls. £6 6s to £l4 14s; other bulls, £3 to £6; ewes with lambs, £2 Is to £2 Ss 6d; ewe hoggets, £1 11s to £1 15s; forward and store wethers, £1 6s to £1 9s. Heaw entries of pigs at both Pukekohe and Waiuku sold at ruling values.

KEEN DEMAND HOLDS N.Z. STOCK MARKETS LAMBS OFFERING FREELY By R.W.C. THURSDAY. 9 a.m. The firm tone registered in live stock circles throughout the year held to the close. At the principal New Zealand stock selling centres yesterday the final sale of the year saw heavy yardings and very firm values. Lambs met with a specially keen demand at rates mostly above the export parity. \ T Westfield yesterday a heavy yarding of ox beef met with 1/een competition from a wide ring of buyers, exporters showing increased strength, and taking an appreciable quota of heavy-weight cattle. For special lines, the market at times exceeded late rates. Recent quotations of up to 42s for choicest ox are unaltered; best young cow and heifer to 375. A big yarding of fat sheep met with rather a dragging sale, and the market for wethers was slightly easier. Exporters came in for the first time for many weeks, bidding freely on prime wethers. The offering was drawn from most parts of the province, several choice pens of wethers coming forward from the Whakatane district. A number of lines were passed in and, in isolated instances, wethers sold at up to Is 6d below late rates. Lambs were the chief concern of most of the buyers, and, for a heavy entry, there was spirited bidding, prices generally exceeding the export parity of 9id for prime quality under 361 b. A big entry of calves showed an improvement in quality. The market for well-finished sorts opened at late rates, but eased toward the close. Competition for a large entry of pigs was steady, and values very firm. Heavy Killings of Fat Lambs At the moment it is estimated that little short of £IO,OOO a day is finding its way into the pockets of Auckland Province graziers as a result of the heavy killings of lamb at the freezing works. Although the season opened here over six weeks ago, and some of the lamb will be released on the London market this week, it has only been during the past fortnight that the killing capacity at the works has been taxed. At Westfield and Southdown difficulty is being experienced in coping with the stock coming forward. Even at Horitiu there is a steady flow of fat lambs, while at Moerewa about 1,800 a day have passed over the killing floors during the past week. Saturday will be a specially heavy day for the works supplying the butchers, and at Hellaby’s works alone provision has been made for the killing of 1,000 lambs to meet the heavy Christmas demand that is expected on Monday. Export prices for fat lamb remain at late quotations. Stores Starting to Move Already there are signs of widespread movements of store stock. During the past month # the Auckland Province has been well combed by forward buyers of both sheep and cattle, while indications are that Poverty Bay and the East Coast will be heavily drawn on for breeding ewes during the next month or so. The first of the season’s consignments of Poverty Bay breeding ewes have already gone forward to Canterbury, and it is reported that the first of the new year will see mobs on the road for the Waikato. Everywhere the market has a very firm tone. Keen Sale at Johnsonville

At Johnsonville (Wellington) yesterday the biggest percentage of the offering was made up of lambs. There was a large attendance of butchers and an excellent sale resulted. Late rates were maintained in all sections. Quotations: — Sheep: Wethers, 32s 8d to 33s 3d; ewes, 25s 3d to 28s 3d; lambs, 23s to 31s 6d. Bullocks, £l6 to £l7 10s; heifers, £ll 10s to £l4 2s 6d; cows, £l2 10s to £l3 15s; vealers, £1 8s 6d to £6 15s. Market Easier at Stortford Lodge

The usual weekly sale was held in the Stortford Lodge (Hastings) yards yesterday, when a heavy yarding of cattle and a medium yarding of sheep came forward to a good attendance of buyers. Prices for both fat cattle and sheep showed an easing tendency.

Fat bullocks made from £ls to £l7; fat cows, £9 to £l3; fat heifers, £ll to £l3; fat and forward bullocks, £l2 to £l3 7s 6d; Hereford cows and calves, £l2; fat ewes, 20s 6d to 235; 4 and 6-

tooth wethers, 28s to 295; 2-tooth wethers, 27s fid; 2-tooth ewes, 28s to 32s fid; woolly ewes with Southdown lambs, 455. Beef Improves at Addington Heavy entries in all sections were recorded at Addington yesterday. The market lor store sheep was slightly easier. Six and eight-tooth crossbred ewes made to 30s 6d. An entry of 3,300 lambs met with a keen sale to butchers at slightly over the export parity. Extra prime made to 375; good prime, 32s to 345. Prices for an average entry of fat sheep showed little change from last week. Show wethers made to 46s 4d; ordinary prime wethers, 32s to 345; extra prime ewes made to 35s lOd. An entry of 600 head of cattle met with a brisk sale and last week s decline was recovered. Best ox in isolated instances made to 48s a hundred; best cow and heifer, to 425. Extra heavy prime steers made to £22 17s 6d; extra prime cows, to £l6 2s 6d.

Prices at Westfield Prices at Westfield yesterday ranged as follow: Cattle: Heavy prime, £ls 10s io £lB l.s 6d; medium, £l2 10s to £ls; small and unfinished, from £10; heaw prime young cows and heifers, to £l2 L’s fid’ medium, £8 to £9 17s fid; light and unfinished, from £4 12s 6d. Sheep: Extra heavy prime wethers, to o4s 9d; heavy prime, 29s 9d to 31s 9dmedium, £1 6s to £1 8s 9d: heavy prime ewes, to 24s 3d; medium, 21s to. 22s fid; light and unfinished, from 15s. Lambs: Extra heavy prime, 35s 6d: heavy prime, 29s 6d to 32s 3d: medium, ||| to 29s 3d; small and light, from

Calves: Runners made £4 10s to £B- - vealers made £4 6s to £5 ss: medium, £3 Ss to £4; light. £2 10s to good bucket-fed sorts, £1 lis to £2 os; rough and unfinished, £1 is to £1 Sssmall and fresh-dropped, 8s to £1 Pigs: Choppers made £1 8s to £2 15s’ extra heavy prime baconers, up to £3 heavy baconers, £2 16s to £3 3s; light and medium. £2 8s to £2 15s; heavy porkers, £2 os to £2 9s; light and medium, £1 15s to £2 3s; small and unfimshed’ £1 5s to £1 13s. Prices for stores were lower. Best made up to £1 its! X i°os £18s; slips - 12s to GOLD FROM RIVERBED OHINEMURI SCHEME MACHINERY ORDERED (From Our Own Correspondent) -r\-i + WAIHJ, To-day. w hat promises to bring about a welprosperity to the Chinemuri goldfields are river gold works at Mackaytown, which are; now in course of construction. Mackaytown is situated about four miles from Paeroa, on the Paeroa-Waihi mam road, and is named after the late Mr. James Mackay, one of the earliest magistrates of the Thames goldfields An area of about 100 acres has been secured, and the machinery for gold extraction will shortly be in operation. A strong company is being formed, chiefly embodying Auckland shareholders, and it is proposed to work in conjunction with the Main Highways Board, which is making the Puke-Waihi section of the highway. The road metal crushing plant is in the hands of Messrs. McCallum Bros., of Auckland, contractors to the Main Highways Board. Some time ago a quantity of quartz gravel was extracted from an old kauri log which had settled in the river bed. This gravel was treated, and yielded a very remunerative return of gold. A two-inch steel rop£ has been carried over the river from a tall mast, and a half-yard bucket to scoop up the gravel —which is similar to that extracted from the kauri tree. Assays have proved it to be worth from £2O to £BO a ton. In some of the gravel, small knobs of solid gold are quite visible. The stone will be dragged the river bed by a drag-line elevator, and with the stone will be lifted tailings from the river bed, and all gold from this deposit will be extracted. The stone-crusher on the ground will deal with the metal that is required for the highway. It is estimated that there are millions of tons of gold-bearing gravel. Some few years ago there was a company formed in Auckland, called the Waihi-Paeroa Gold Extraction Company. It cost upwards of £IOO,OOO to procure the rights, machinery, and barges for dredging the Ohinemuri River in the vicinity of Paeroa. This company dealt with the tailings from Waihi and Karangahape batteries. They did not deal with the tailings on the surface, because they were from the batteries under cyanide, which saves 95 per cent, of gold. The company worked for the tailings of the early days, when there was no cyanide. At these works there were about 70 men monthly returns were recorded, it was especially when the war broke out, the never really a financial success, more necessarv material for saving had doubled its price, and after a few years the company closed down. In the case of Mackaytown, the conditions are different. The new coranany will treat the gravel, not the tailings. Fresh developments are awaited with interest. AUCTION NOTES

Roy Squirrell, instructed by the bailiff, will sell by auction at their sa’jooms, Hall of Commerce, High Stret, to orrow at 10.30 a.m., an electric lighting plant.

£5,000,000 PLANT CHEMICAL FIRM’S PLAN FOR AUSTRALIA ! (Australian and X.Z. Press Associationj | Reed. 9.5 a.m. LONDON, Wednesday. An authoritative statement may be made soon in connection with the reported intention of Imperial Chemical Industries, Ltd., to establish a £5,000,000 plant in I Australia to manufacture synthetic ammonia and nitrates. ! A director of the firm, Mr. Tod Hunter. ■is now in Australia investigating, and I may make his own decision on the spot. ' Inquiries elicited the fact that the company regards Australia as one of the I world's biggest fields for chemical development. and that it looms large in Lord Melchett s mind. i MINING NEWS MAORI LAND.—The manager reports: Another four tons of good stone has been broken out. We are coming through into the No. 3 level, and hope to complete the work this week.

Sellers. Buy* -IS. £ «. d. £ d. BANKS— Australasia 1 t 18 8 < om. of Australia . 1 11 0 1 1ft 6 Ditto (pref.) .. .. 9 0 National of N.Z. 6 New South Wales 5ft 0 New Zealand 0 1 3 Ditto, D. Mort ( 20s paid) — 1 ft Union of Australia . — 13 12 0 INSURANCE*— A. P. A .. . . .. .. ft 10 0 0 6 0 New Zealand .. .. 7 0 C 8 South British .. 3 5 0 3 4 3 DOAN AND AGENCY Abraham and WilHams 4 2 0 Dalgety and Co. . . 13 3 8 Farmers' Co-op. Auct 2 6 Newtcn King (pref.) 0 7 9 N.Z. and River Plate 1 12 6 N.Z. Doan and Merc. 118 0 0 113 ft 0 Ditto (pref.) .. .. 80 0 0 North Auck. Farmers* Co-op., B (pref.) 0 10 0 0 7 0 COAL— ilikurangi 0 6 0 Ditto (pref.) . . . . 0 1 l — 1) 9 6 Pukemiro 0 0 0 Renown (pref.) o 10 0 2 8 Taupiri l 8 0 1 5 U Ditto (pref.) . . . . 1 3 0 W estport-Stockton . 0 3 9 Ditto (pref.) . . .. — 0 4 0 GAS— Auckland 1 4 0 1 • s Ditto (con.) .. .. — 0 17 3 SHIPPING— Devonport Steam . 1 4 6 Huddart-Parker l 0 n Northern Steam 13 s 0 13 2 Ditto (con. > . 0 8 9 — P. & O. (def. stk.) — 2 15 0 TIMBER— Kauri Timber 0 19 2 Ueyland-O’Brien — 1 1 l 9 National 0 10 6 — WOOLLEN— Kaiapoi . . — ft 13 8 Ditto (con.) . . . 0 10 Ditto (pref.) .. .. — 0 13 0 BREWERIES— C. L. Innes 0 19 6 Ditto (pref.) .. .. — 0 19 9 N.Z. Breweries — 2 18 0 Ml SCELLAN EOU S— Auck. Amuse. Park 0 5 8 ft 4 9 British Tobacco 5 8 4 9 Burns, Philp . . . . 5 ft Bycroft, Ltd — 1 12 0

Sellers Buyers. Checker Taxi .. . . 0 9 0 Colonial Sligar — 58 10 0 Dominion Pictures . 1 1 0 Ditto (pref.) .. .. — 1 1 0 Farmers’ Trading . n 9 0 0 8 4 Ditto A (pref) .. 0 17 6 0 15 6 Ditto B (pref.) .. 0 10 6 1* uller’s Pictures . . 1 0 3 Urey and Menzies . 0 10 Hamilton Theatres . 0 19 0 Hayward’s Pictures 1 0 6 Hill and Plummer . H.M. Arcade Theatre — 1 2 6 (pref.) 1 1 ft Holden’s Motors .. 1 9 N.Z. Drug Lewis Eady, Ltd, — 3 12 6 (pref.) 0 19 3 Milne and Choyce .. 1 6 0 Ditto (pref.) .. .. l 6 0 Ditto (B pref.) 1 6 0 Ditto (deb. stock) 1 6 0 1 5 6 N.Z. Farmers’ Fert. N.Z. Refrigerating 1 0 6 0 19 6 (con.) Sanford (ex div.), 0 9 4 0 8 9 (pref.) 0 6 Ditto (ord.) .. .. 0 16 Taranaki Oil .. 0 6 0 0 4 Thames Theatres .. 0 15 0 ft 10 0 1 nion Oil 2 4 0 0 0 Whittome Stevenson 2 0 Wilsons Cement . . MINING— 2 1 0 Alburnia (2s 6d pd> . 0 *» ft Lucky Shot (4s paid) 1 R 0 9 0 Maoriland (con) New Waiotahi 0 0 6 — (4s paid) 0 1 0 Ditto (con.) .. 0 0 4 ( >hinemuri 0 8 R 0 8 1 Waihi 0 1 4 a 0 1 Waihi Grand June. . 0 1 0 0 0 8 Mount Lyell 1 18 9 1 18 3 Kuala Kampar Tin DEBENTURES— 0 14 0 0 13 DAuckland Gas, 1932, 5 94 0 0 Ditto, 1935, 6i .. 103 0 0 Auck. Har Board, 6 per cent Auck. Power Board, - 103 0 0 5i per cent 101 10 0 Bor. of Devonport, 4$ 94 0 0 Ditto, 5i 101 10 0 Farmers’ Trading, *>£ 94 0 0 N.Z. Breweries — 1 5 6 GOVERNMENT BONDS — War Loan, 1930, 4J 100 ft 0 Ditto, 1938, 4i 99 15 0 99 0 0 Ditto, 1939, 4i . 99 15 0 99 0 0 Ditto, 1941, 4i . . 99 0 0 Ditto, 1936, 5£ p.c. — 101 5 0 INSCRIBED STOCK War Loan, 1938, 4* 99 0 0 Ditto, 1939, 4h 99 0 Ditto, 1936, 5i p.c. — 101 5 0