COMMERCIAL NEWS

Ashburton Guardian, Volume XLV, Issue 10167, 23 July 1924, Page 2

COMMERCIAL NEWS

TINWALD STOCK SALE. PRINCIPAL SALES YESTERDAY. Tho entry of stock at the Tinwald yards yesterday comprised 467 fat ewes, 170 fat wethers, 12 fat hunks, 242/ stores and 31 head of cattle There was a fairly large attendance, hut the market as a whole lacked the buoyancy which characterised the sale at the Ashburton yards _ last week, and there was a decline in the prices foi both ewe and l wether mutton of from fully 3s to 4s per head. Prime ewes made from 29s 9d to 34s lid, and second quality 229 to 26s 6d, while other prices were as low as 17s 9d to 20 s 3d for inferior lots. Wethers realised 32s 6d to 42s 6d. The principal sales were„ , r . , , /T Fat Ewes—For H. Muirhead (Lagmhor), 62 at 21s 6d to 265; H. Harper (Tinwald), 7 at 245, 7 at 34s lid; clients, 13 at 29s 3d, 30 at 31s 8d; A. Read (Eiffelton), 2at 245; H. Watts (Willowby), 10 at 245; H. Branch (Mayfield), 16 at 26s 3d, 1J at 23s 9d, 9 at 24s 9d, 18 at 225; R. McLay (Ruapuna), 14 at 295, 12 at 30s: R. C. Maidens (Hinds), 11 at 30s 2d, 8 at 29s 3d, 12 at 25s 3d; E. H. Gibson (Lismore), 10 at 20s, 11 at 17s 9d; A. N. Grigg (Longbeach), 3 at 28s, 15 at 33s 9d, 15 at 31s, 26 at 28s 9d; Murdoch Bros. (Mayfield). 8 at 325, 12 at 25s 7d, 10 at 255" 9d, 9 at 25s 6d, 11 at 25s Fat Wethers For John Farrell (Hinds), 7 at 40s, 7 at 36s 9d, 10 at 355; A. Read, 2 at 26s 6d, 13 at 34s Id, 27 at 32 S 3d, 14 at 34s 6d; W. P. Prebble (Winchmore), 2 at 36s 6d, 3 at 32s 6d; E. Goss (Tinwald), 11 at 38s 6d, 11 at 38s 8d; clients, 12 at 38s lid 11 at 37s 6d, 15 at 38s, 6at 41s, 6 at 34s Id, 10 at 42 s 6d; A. N. Grigg, 234 s 9d» Fat Lambs—For H. Muirhead, 10 at 255; J. A. Painter (AVheatstane). 2 at 24s 3d. Stores—The sale of stores was not nearly as good as was the case last week, and out of the 2427 yarded 1099 were passed at auction. The principal sales were •—67 4 <in(l G-tocxtli forward wethers at 33s 3d, 30 I-bred wethers at 30s lid, 93 crossbred wethers at 31s, 40 crossbred ewe hoggets at 29s 10d, 126 crossbred ewe hoggets at 29s lOd, 126 crossbred wether hoggets at 21s, 84 full and failing-mouth 3-bred ewes at 20s 3d, 22 6 and 8-tooth 3-bred ewes at 35s Id, 128 full and failingmouth $-bred ewes at 22s 6d, IQIV fail-ing-mouth 3-bred ewes at l6s 9d, 100 do. at 225, 50 cull ewes at Bs, 30 2 and 4-tooth |-bred ewes at 31s Bd, fail-ing-mouth 3-bred ewes at 275, 177 4, 6, and 8-tootli I-bred ewes at 355, 90 mixed sex crossbred hoggets at 23s 9d, 100 6 and 8-tooth crossbred ewes at 23s 9d, 100 6 and 8-tooth crossbred ewes at 23s 3d.

BRITISH TRADE. HIGH COMMISSIONER’S REPORT. The Department of Agriculture has received the following cablegram, dated July 19, from the High Commissioner for New Zealand, London: Butter. —The market is quiet again. Danish dropped from 4s to 6s, but recovered later. Official quotations are : New Zealand, salted, finest, 186 s to 188 s per cwt (Is 73d to Is B|d per lb); exceptional, 190 s per cwt (Is Bld per lb); unsalted, 204 per cwt (Is 9|d per Australian, salted, finest, July, 182 s to 184 s per cwt (Is to Is 73d per lb); unsalted, 186 sto 190 s per cwt (Is 7ld to Is 8 ; pl per lb); other qualities (salted), 170 s to 180 s per cwt (Is 6d to Is 7id per lb). Argentine, unsalted, July, 184 s to 188 s per cwt (Is 73d to Is 8d per lb); other qualities, 170 s to 180 s per cwt (Is 6d to Is 73d per lb). Irish, salted, 186 s to 190 s per cwt (Is 73d to Is B£d per lb); unsalted, July, 192 s to 194 s per cwt (is 83d to Is 83d per lb). Danish, 200 s to 204 s per cwt (Is 9-id to Is 93d per lb). Cheese. —The market is very difficult, and the' tendency is easier. Official quotations are: English, finest farmers’, market steady. July, 94s to 98s per cwt (lOd to 10Id per lb). New Zealand, coloured, 86s to 88s up to 90s per cwt (93d to 93d per lb); white, 90s to 92s per cwt (93d per lb). Canadian, coloured, 90s to 92s per ctw (93d per lb); white, 92s to 94s per cwt (93d to lOd per lb). Shipments of New Zealand produce arrived this week per s.s. Arawa, Piago, and Port Bowen. Wool. —Bradford reports small business to the Continent. Prices for tops are: 64’s (merino), 6s; 56’s (super halfbred), 3s lid; 40’s (prepared coarse crossbred), 2s 2ld per lb.

STUD RAMS. BIG PRICES IN SYDNEY. SYDNEY. July 17. The stud ram sales in Sydney have been remarkable for the high prices realised, and for one sale, which constitutes a record for Australasia, and possibly in the world. For one of three special stud rams offered by the Austin Wanganella Company, of Wanganella, Deniliquin, bidding started at 800 guineas. That there was an eager demand for the aristocratic fellow on sale was shown by the rises of 100 guineas at a time. Bidding went on until 2200 guineas was reached. The contest was then left to Mr McLarty, of Bundure station, and Mr J. F. McNab, a wellknown sheep expert in the Riverina. At 2900 guineas the 100-guinea rises stopped, the auctioneer then accepting 50-guinea rises. The ram finally went to Mr McNab at 3050 guineas. It was bought for the owners of Barratta station. Deniliquin. This is the fourth year that the company which sold the ram have topped,, the record at the Sydney sales. Three merino special stud rams realised £4357 10s. On one Bay’s sale alone there was a turnover 0f’£26.000, which seems to suggest that there is money in sheep. )

CLEARING SALE AT RAKAIA. On Monday, Pyne, Gould, Guinness, Ltd., New Zealand Loan and Mercantile Agency Company, Ltd., and H. Matson arul Co., joint auctioneers, conducted a clearing sale on behalf of Mr Janies Morland, at his well-known property of “ Rosebank,” Raliaia. The ! weather waS bitterly cold, with snow threatening all day, but the attendance of buyers was good. The foHowing prices were realised: —Aged ewes, 29s 6d, 30s 3d, and 31s 6d; two-tooth wethers, 325; wether hoggets, 24s lOd; horses, £l2, £l9, and £23 10s; cows

in profit, £5 10s to £lO 10s; pigs, 52s 6d. A large range of implements and sundries sold exceptionally well.

THE MILLION LOAN.

EXPLAINED BY MR MASSEY

WELLINGTON, July 22. Mr Massey states that the loan of £1,000,000 notified yesterday is for the State Advances Department. He had placed an order for this some time ago and was pleased to find it had been secured on the same favourable terms as the £5,000,000 loan floated m May. There was a. difficulty in the way of transferring the money to New Zealand on account of the high rate of exchange. - It would, therefore, be invested in London for some little time in short-dated loans. [A cablegram recently received from London reviewing the Stock Exchange, included the following: “A satisfactory incident has been the placing privately of a million of New Zealand 41per cent stock at 95, on the same terms as the £5,000,000 loan was floated in May. This million was placed without affecting the market in any way, and its sale shows how easily the market can absorb large issues of capital of this sort.”]

LONDON WHEAT REPORT. LONDON, July 20. Wheat cargoes are irregular with North and South American, but white wheat is 3d a quarter lower. Parcels are firm. Manitobas gained a shilling on the day and closed easier. Parcels ex Ballarat sold at 54s 6d ; Australian June, 51s 6d; Australian August, 54s 7]d; sold at Liverpool ex Medic in bags, 54s 9d; in bulk, 54s per quarter.

THE RISE IN FLOUR. CAUSTIC LONDON COMMENTS. LONDON, July 22. Standard flour has risen Is. in London to 45s 6d a quarter, compared with 37s 6d at the beginning of May. The “Daily Express” says British consumers are being held to ransom by an American ring which hopes to gain the votes of Western farmers, thus ensuring a Republican victory at the Presidential election. There has been nothing to equal the present gamble since the Loiter boom. Members of the Baltic Exchange say there is no panic in London, but the market is .very nervous. Other English experts are of the opinion that the American syndicate will burn its fingers badly, as there is no reason to believe there is a deficiency in the supply for the United Kingdom. Even if there is a deficiency in the Canadian and United States wheat crops, South American will make up the shortage.