COMMERCIAL.

Press, Volume LX, Issue 17983, 29 January 1924, Page 8

COMMERCIAL.

SMITHFIELD MARKET. MR MASSEY'S VISIT. (FliOil OXJJi OWN COEEESPOXDENT.) LONDON, December 17. On his arrival in London from Wolverhampton, Mr Massey was met by Mr R. S. Forsyth (London manager of the Meat Producers' Board), and taken on to Smithfield Market. This was the first occasion on which the Prime Minister has visited the market, and, as he admitted before he left, he learned a lot. There was plenty to see, but Friday is not the best day of the week to make an inspection. On Thursday the week-end meat has been taken, and a certain amount of clearing up goes on during tho Friday and Saturday. Mr Massey was met at the East Gate by a number of the members of the British Incorporated Society of Meat Importers and of the New Zealand and Australian Agents' Association, and was conducted round the stalls. He was introduced to a number of partners and representatives of the leading Smithfield firms, and with these he had brief conversations on matters of mutual interest. So far as New Zealand mutton and lamb were concerned, there were good carcases to be seen and not so good. One lot of last season's lamb had obviously been long in store and was not particularly pleasing in appearance. This sample, as a matter of fact, was the first of the Dominion meat to be inspected. Some mutton from the Wellington Meat Export Company and some iamb from the Southland Frozen Meat Company was hung opposite lamb from Australia. Comparison wa3 natural, in this case, to tho obvious advantage of the New Zealand produce. Mr Massey remarked on a few bruises that were evident on the meat. "You in New Zealand," said a stallholder, "are very very careful in handling your meat. We in London are careful." At another stall there were to bo seen carcases of the Scottish hill lamb. These are not unlike the carcases of large hares. The lambs aro bred in the hills, and remain' very slender and wiry until mustered for tho market. They axe killed while they are still sucklings, nad they are availrble for only three months of the year. A Luxury Trade. One conversation dealt with tho dcarness of New Zealand lamb. "It was stated that this had become a luxhry trade with tho high prices ruling. There was little margin of profit. Butchers chose exactly what they wanted for their regular customers and no more. The high wholesale prices made business very difficult, especially as tho Argentine were perfectly consistent with their supply of lamb throughout tho whole year. It was at this stage that Mr Massey expressed the wish that he had the chance of turning the scales in the matter of Imperial preferenoe. A further point in this particular conversation was to the effect that tho rising crossbred wool prices would certainly mean that fewer lambs would be killed and mutton and lamb prices would probably go up still further. At a later stage other men mildly complained of the high price of New Zealand lamb. "But it's good meat," said the Premier. Dressing of Boef. Mr Massey also had an opportunity of comparing Argentine chilled beef and New Zealand frozen beef almost side by side. Attention was drawn to in® dressing of the two types of carcase. The representative of a firm which does a fairly large trade in New Zealand beef repeated the complaints which" have been steadily ignored for several years.

"It would reallv pay New Zealand," he said, "to get some experts frotn the Argentine to go over to the Dominion and give lessons in the killing and , dressing of cattle.Dual purpose cattle, he maintained., would always prevent the beef trade from being successful. Still another complaint was the multiplicitv of marks. Co-ordination and co-operation were needed. The Prime Minister was interested, ■ too, in the very fine display of Danish pork. "Send us pork in that condition from New Zealand," said the largest dealer m pork in the market, "and we shall be delighted. New Zealand has tho Berkshire pig. -What von want is the Little White." ' MEAT DEFROSTING. / " ALCOCK-WAGSTAFF PROCESS. fraojr oto own corbespokdeht.) LONDON, December 17. A defrosting process for frozen meat suitable and economical for small retailers, is undoubtedly a desirable thing, and such a process would prove beneficial to the trade. Mr E. S. Forsyth (London manager of the New Zealand Meat Producers' Board) has been in touch \7ith Mr Alcock, an Australian, who is the inventor of the Alcock-Wagsfcaff electrical process, and last week ho arranged a demonstration with a hindquarter of New Zealand beefof average quality, and a carcase of New Zealand lamb. These were submitted to this electrical .treatment, and the experiment turned out in every way successfully, for not only did the fat return to its mellow colour, but all' semblance of frost in the flesh had disappeared. The defrosted carcases were exhibited on one of tho stalls at Smithfield market, and caused favourable comment from several of the people dealing in New Zealand meat. The process has many advantages oyer other similar methods, as no special baildings or expensive plants are required. A collar containing needles is placed round the shank, say, of a quarter of beef, and two contrivances ' similarly studded with needles are placed in the thick end of the quarter. These are connected with the ordinary electric light switches, but between the switch and tho meat the current is subjected to some process which is the secret of tho patent. It is said that not only does heat pass into the meat . with the electricity, but the 1 current is suiih as to have a massaging effect on the tissues. No harm is dono to the meat by tho needles which penetrate the carcase.

It is possible to defrost a quarter of \ beef under twenty-four hours, and this can be done by any retail butcher in his own shop. The cost is also quite reasonable, and it will be possible to treat beef at under 6d per quarter, and mutton at about 3d per carcase. The patentees are placing the-inven-tion on the market, and as the gear is very simple, the price should not be prohibitive as far as the retail butcher is concerned. ' BKHISH AGRICULTURE. IxjjnxjON, January 27. The Government is summoning* a conference of land-owners, farmers, and farm labourers to consider agricultural problems.

NEW ZEALAND PRODUCE.

WOOL STRONG WITH HIGHER PRICES. .yr.oi: ora own cobmspondent.) LONDON, January 1". Good class medium crossbreds have continued to improve in value as the sales have progressed. They are now 15-20 per cent, above November rates, while coarse sorts are 10-15 per cent, dearer. Messrs W. "Weddel and Co. mention that there is some American demand for shafty merino wools in the grease. Prices for these are rather higher than at the opening. The general tendency of values for fine wools, both in grease and scoured, is against the buyer. When the series opened merinos showed an advance of up to 5 per cent, over the closing rates of November. There was a keen demand for crossbreds at tho prices which obtained at Liverpool at the end of November, fine sorts being 5 per cent., good mediums 10-15 per cent., and coarse sorts 10 per cent, higher than at the last London sales. Slipes showed the same advance and scoureds were fully 10 per cent, dearer. Writing in fuller detail the wool correspondent of the "Daily Telegraph" says that the current auctions have been characterised by intense competition. Prices have'been rushedupwards after the order of 1919, and it is to be hoped that the gambling tactics seen in the cotton trade are not going to bo practised in tho wool industry. It is a fact that a good deal of the trade done recently in Bradford has been between dealers, and not actual users. There has been a good deal of speculation, far more than is often seen, and, while those who, anticipate the future usually do tho best there is now a very different standard of values ruling to-day compared with any other period since tho slump.

Merino wools have all advanced anything from Id to- 2d per pound, while crossbreds are up to anything from 2d to 3d. The Continent has dictated the policy of the merino section, and some remarkable prices have been ruling for greasy merino wool. Terrick realised 35d, Malvern Hills 35d, Nive Downs 32d, Goonoo Goonoo 33d, Midkin 333 d, Bundure 35d, Caiw'arro 33id, Marathon (scoured combing) 60d, and Maxwelton 61\ d. In face of such prices it can hardly be expected that merino cloth is going to bo any cheaper next year. Some forecast still higher values, supplies being expected to be more than equal to, the needs of the trade. If an indifferent West Riding textile industry can stand such prices as those given, it makes one wonder what prices are going to rule when trade becomes normal and the Continent, particularly Germany, recovers its full consumptive capacity. Then, too, America has begun to buy good greasy merino and crossbred wool, and there are great possibilities in that country.

It simply means, now that the B.A.W.R-.A. has got rid of its surplus Etocks, that the trade every season .will be "011 the sheep's backs," and there will have to be inaugurated a campaign of "more sheep, more wool." Such a. campaign was-launched in delphia some years ago, but it appears to have fizzled out since the introduction of the last tariff.

The correspondent concludes: "There is now every prospect of merinos finishing fully 7i per cent, above the close of last series, and one of the outstanding features of the series is the renewed buying on the part of West Riding users. Spinners have at last begun ' to realise that if they do not lay in some stock now the wools are not going to be there later on, hence several are backing their opinion for steady, firm prices by buying to-day. Practically all the Continental sections have been keen to operate, particularly France. Tho annoying thing is that Roiihaix-Turcoing topmakers can pay 2d to 3d per pound more than ho-raa trade users, this being why many have argued for a reasonable measure of protection against French made goods. Vtery large shipments of pieces to Japan have greatly relieved the textile situation in Yorkshire, shippers rushing all they can to the Far East in order to take advantage of the repeal of import duties till the end of March next." Dairy Produce—Butter lower. Throughout last week the demand generally for butter was good, and owing to the temporary shortage of best quality on spot, buyers had to pay fully 10s per cwt over the figure indicated in our last report. During the current week, however, trading has boon very slow, and the advance ill prices referred to has not been maintained. Evidently the larger operators have filled their immediate requirements, and as fairly targe arrivals will be available immediately after Christmas, they now prefer to await the trend of tho market before committing themselves further. It is the general opinion of the trade that anything over 2s per lb on the retail counter wil} very considerably curtail the demand, so that with prices at the present level, it is not to be wondered at that buyers show considerable caution. After reaching 222s to 224s per cwt last week, New Zealand has receded, being to-day quoted at )212s to 2165, and exceptionally 218s per cwt for salted, but the demand is quiet. There is a fairly steady enquiry for Australian at 204s to 210s per cwt for finest salted, 196s to 500s per cwt for secondary, and 184s to ISOs per cwt for third and inferior grades. Finest unsalted is none too plentiful at 210s 'to 212s per cwt. The demand for Argentine unsalted is not quite "so keen, and here also quotations are easier. Siberian as still 'on offer at prices ranging from 170s to 185s per cwt according to quality. Last week the Danes made the most of the shortage of best butter and quotations roso to as high as 228s to 230s per cwt f.0.b., but this week in order to effect a clearance as low as 215s to 21Gs per cwt f.o.b. has been accepted—equivalent to about 223 a London. , Spot stocks are quoted at 222s to 2"24s per cwt. Cheese has been a ratner disappointing market, the demand having lately been quiet. New Zealand white, is quoted at 106s to 108s per cwt, and coloured at 108s to 110s per cwt. Prices of Canadian. make are the same. . Firm Market for Tallow. Throughout the past two weeks the tallow market has been firm with a good demand and a consequent steady trade at prices showing in tho case of the. better grades, no quotable change, with inferiors Is 3d per cwt dearer. Offerings at auction in London on the 12th inst., were 1145 casks', of which 1053 casks were sold, totalling for the" period under review 2514 and 1750 casks respectively. Attempts to trade with Australia in the forward positions have been without result as up to the present supplies are not plentiful, and the local demand keeps prices at too high a level for this market. South American sorts, after moving fairly freely, registered an advance in prices, but are now slow of sale, although still very firm. Oh the whole the position shows some improvement, with saladero digester nominally at 41s 9d per cwt. for shipment and frigorificos 42s ner cwt. r _ "With the exception of mutton premier jus, there is very little interest shown m oleo. Consumers generally appear to have sufficient for their needs, and are content to look on for the time being. The market for edible fats, however, keeps very firm, ■ ! k toots of nest column.)

MUNICIPAL BRICKWORKS.

CR. M'COMBS'S PROPOSAL.

A proposal to establish municipal brickworks was made by Cr. E. McCombs at the meeting of the City Council last night. Cr. McCombs gave the following notice of motion: —"That ia view of the fact that building is being held up. and unemployment created by a shortage of bricks, which is being artificially created, by some sort of brick combine, the City Council ask the Governor-General, by Order-m-Council under authority contained m Clause 322 of the Municipal Corporations Act 1920, to make regulations authorising and controlling the establishment, equipment and maintenance by the City Council of brickmaking works and the carrying on by this Council of the business of brickmakers." DUNEDIN WOOL SALE. (PBESS .ASSOCIATION TBLBGBAHS.) DUNEDIN, January 28. The second wool sal© of the season opened to-night. Buyers were present from, every country interested in the manufacture of woollen goods, and competition was very keen. The catalogue comprises about 25,500 bales. The quality is hardly up to the high standard of last season, but there is a large proportion of very useful wools, and there are many lots of very superior quality. So far as the sale has gone, prices are very satisfactory, in many cases exceeding expectations. Highest price was 31d for first combing quarterbred. Merino v.oo'ls did not met such keen competition as.halfbreds and quarterbreds. TASMANIAN SHIPPING. THE NAVIGATION ACT. (BY CABLE—PBESS ASSOCIATION COPYBIGET.) (AUSTRALIAN AND N.X. CABLE ASSOCIATION.) HOBART, January 28. Alfred Willing, timber merchant, giving evidence before the Royal Commission on the operation of the Navigation Act, said that since the Act came into force he had lost business through inability to secure shipping when he wanted it. The business which he once had with New Zealand had been lost for the same reason, and he had been compelled to refuse orders from there because of lack of shipping facilities. It was all nonsense for the Union Steam Ship Company to say that it had intimated that a vessel had been available to load timber but had been unable to obtain cargo. Witness invited the Commission to visit the wharves and see two shiploads waiting. BLACK-SPOT ON APPLES. HOBABT, January 28. Sir Henry Jones, commenting" on tho export of apples with black spot, said that they would realise as good prices in England as clean apples. English people were accustomed to apples being spotted through climatic conditions. SYDNEY WOOL SALES. (Received January 29th, 12.10 a.m.) SYDNEY, January 28. « At the wool sales competition was keen, and the market very strong for lines showing fine quality, values advancing five per cent. Greasy merino sold up to 41id. OIL STORES. Two applications have been reoeived for permission to erect oil stores on property at the corner of Kingsley street and Waltham road and the corner of Madras street and Brougham street, Sydenham, but owijig to the fact that there is a large number of dwellings in proximity to the proposed sites, tlie By-laws Committee ot the City Council, refused the applications. BUILDING PROGRESS. PERMITS ISSUED.

Australasian.—White mutton taJlow 48s 9d per cwt, good mutton tallow 465, fine beef tallow 455, good colour mixed 43s sd,' dull to fair mixed 40s 6d, gut mixed tallow 38s beef premier jus 465.

South American.—Extra beef premier jus 52s per cwt, prim© beef premier jus 50s, mutton premier jus 495, TJo. 1 beef, tallow 425, No. 2 ditto 395, No. 1 mutton tallow 41s, No. 2 ditto 38s, Neatsfooot oil 4s 7id per gallon. New Zealand Meat. There is still a good enquiry for all descriptions of New Zealand mutton. Available supplies of good average quality are short and values have been well maintained. Secondary sheep have also met with a good demand and the market closes firm all round. A good enquiry also still prevails for prime Canterbury lambs, particularly under 361b, which remain very firm and command a considerable premium over the medium and heavy weights. These latter are being sold with difficulty at the reduced prices. The few Australian lambs to hand are meeting with only a slow demand, and although the quantities landed are light, they are sufficient to meet all present enquiries. Prices close easy. The market for frozen beef during the past fortnight has been very depressed, and there seems to bo little hope of any immediate recovery. Supplies on hand are light, and chilled marketings during the past week have been moderate, but this has had no stimulating effect on the demand. Messrs Weddel give the following prices per lb for New Zealand meat: Mutton.—Small and medium 7Jd and Bd, heavy 7£d and 7-Jd, ewes 64d and 6'd. Lamb.—Prime Canterbury and selected North Island up to 421b* IOJd., North Island, lOd. Beef.—Forea 3gd, Hinds did.

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS.

Snles reported:—N.Z. Govt. 4h per cent. Inscribed, 1935, £36 10a; Bank of New Zealand, 50a 3d (fonr parcels); Crown Brewery (cum div.), 61s Gd (two parcels).

Sales on 'Change:—s*" ational Insurance 78a 6d; Manning's Brewery, 275, 27s 3d. ' LATEST QUOTATIONS.

OTHER EXGHANGES. v_ (PUESS ASSOCIATION TELEGRAMS.) AUCKLAND, January 28. Sales—Auckland Gas (oont.), 3s sd; Northern Steam, 15s; Wailii, 29s 9d. WELLINGTON, January 28. Sales -reported:—Huddart-Parker (pref.), £1 0s 9d; Post Offico Bonds, 1927, £97 10s; N.Z. Loan and Mercantile (ordinary), £B4; National Insurance £3 18s 6d. DUUEDIN, January 28. Sale on 'Change—Huddart-Parker £ord.). 42s 6.1. Sale-. Reported—Bank of New South Wales, £4l "la; Waihi, 29s 9d; Tfew Zealand Dairy Co., 65s 6d. ' CANTERBURY SALEYARDS COMPANY. The fiftieth annual rcpo-rfc of the directors of the, Canterbury «Saleyard3 Company, Limited, atatc3:— TJao, directors, in presenting their annual report for the year ending December 31st, 1923, ihe jubilee year of the company, are pleased to be ablo to congratulate tho sh&rehoider:), on the satisfactory financial and trading position of the company. The revenue' ia slightly more' than last year, but expenses have been considerably heavier. At the same time the company is now in tho position of having a reserve fund of. £ISi,OUO invested in carefully-selected securities. The efcock passed through tho yards are 729,127 *heep, 42,874 cattle, 36,99 - pigs. Tho »:,rds and other facilities have been in good working condition. Tho profit a.od loss statement shows a balance of £2063 4s 9d, which, with tho balance brought forward from the previous year after paying tho dividend for that year, and after transferring £IOO to dilapidation fund, leaves a balance of £2024 4s sd. Of this amount an interim dividend was paid absorbing £IOOO, leaving <a balance to be dealt with of £1024 4s od, which your directors recommend should be appropriated as follows: To payment of a dividend of 5 per cent, on the paid-up capital, making a total dividend of 10 per cent, 'for the year .. .. .. £IOOO 0 0 To carry forward .. 24 4 5 £1024 4 5 The directors regret the death of the lite Mr Walter Ollivier, who for so many years . audited the company's accounts, and have appointed Messrs Mitchell and Aldridge to fill the vacancy. The directors who retire by rotation are Messrs H. H. Pitman and George "Witty, M.P., who. being eligible for re-election, off?»r themselves accordingly. The dividend, if approved, will be paid on and after February 13th, 1921. AN A.M.P. PURCHASE. Negotiations between the Palmersfcon North Borough Council and the A.M.P. Society for the sale and purchase of the Broad street property at present occupied by tho Municipal Ga3 Department hitvo been brought to a successful conclusion. The price ia £13,000. Tho premises will be handed over for occupation on May 31st. ' APPLE EXPORT. According to a well-known Auckland fruitgrower, ilr il. S. Izaid, efforts are being DKido to export a shipment of Willie Sharp apples to England by a steamer leaving Wellington about February l£th. This apple was a chance seedling, and was a fine crisp eating fruit when ripe. Owing to its gxeeD/ colour it did not sell particularly weJl in Auckland, as few knew ■o£ its lusciousness. The apple had a curious history. 'Jflio chance seedling was discovered by Mt Sharp, a well-known orchardist of the Waikato, who named it after his late son when he left with the expeditionary foroe. Mr Izard considers that Auckland has been very backward in exporting apples, and did not send Home such large quantities as did Nelson. The whola trouble was that there were too maisy varieties, and he thought that growers should concentrate on not more than half & dozen varieties. TALLOW. M casrs A- IL Ttrrnbull and Co. are in recw'pi of the' .following cablegram from W. W«'!<lel and Co., Ltd., dated London, 23rd :—"At tallow auctions to-day 880 casks witfo offered and 800 sold. Market hag adVttsiced 6d average." ([Coattauod at foot of usssA column.)

THE DENTAL SCHOOL.

AUCKLAND'S REPLY TO OTAGO.

(SPECIAL TO "THE PBESS.") AUCKLAND, January 28. ''The hysterical screeching of Otago people, and their abuse of Auckland about the iDental Commission's recomimendations 'that the special school at Dunedin should be transferred to Auckland is quite unwarranted." Such was the terse opinion of the chairman of the Auckland University College Council (the Hon. Goo. Foivlds) when asked if he had anything to say about the Dunedin comment on the subject. "The finding of the Commission to remove the Ota-go Dental School to Auckland," Mr Fowlds stated, "was not prompted by the Auckland evident. We simply contend that adequate provision shall be made for the training of young people for the dental profession, and also for engineering, and that the training so given shall be recognised by the Senate. The continued growth of Auckland and suburbs demands a revision of the condition that has set up all the special schools in the South Island. Abuse of Auckland for making the demand does not depreciate in support of it." The dental profession in Auckland expresses keen interest in the lively controversy. It is clear that a majority of the local dentists support the -finding of the commission. They are not apprehensive about any studenttraining encroachment upon their wide field of activity. This is in sharp contrast to the conditions in Dunedin, where the Otago Dental Association asked that the school should not encroach on its patients. A locfil dentist thus sums up the position,: "There (is only one argument against a dental school in Auckland, and it is political. Politicians may hesitate to challenge 01 a go's influence at the present time, but if they are pledged to economy, they must agree with the Dental Commission and give effect to its' recommendation."

BOOK KLEPTOMANIA,

A FASCINATION THAT OVER- . POWERS. The announcement is made that during last year a large number of valuable books were stolen from the renowned Bibliotheque Nationale in Paris. Detectives have just been ordered to watch frequenters of the institution in th© hope of catching the book thieves. The stealing of books has in - creased to an astonishing extent since the beginning of the war, declares A.8., in the ''Daily Chronicle. 1 ' "Public libraries have suffered a good deal from tiiis form of theft, second-hand booksellers have long,, complained on this score,, while club libraries have been victimised to an extent which ia not generally realised. But the trouble in the libraries, public and private, is that detection of the thieves has completely' failed. Moreover, the theft of books continues unabated, and all the expedients adopted to discover the delinquents have been in vai*. At some of the big London clubs these depredations have grown to an amazing extent. At a famous club in Pall Mall, which possesses a very large library, the thefts have run into scores of. volumes, and the committee'•fire quite baffled in detecting the culprit or fulprits. Special watch has been made upon certain members whose eccentric behaviour has given rise to suspicion, but on no occasion has the thief been found, and the continuing disappearance of -books remains a mystery.

In tho case of the Bibliotheque Nationale thefts, valuable books and documents have been purloined and the motive of raising money can be taken into account. But xn the club I havo referred to, the books stolen, which run into consist largely of inexpensive novels, which can have no sale value, so that- this explanation is useless. ■

Failing theft for the purpose of obtaining money, what other reason, can operate? An acute saying by Anatole France may throw light upon the matter. Books are the opium of the "West, declared the French master of letters, and they exercise a curious drugging effect upon certain unbalanced minds. Just as the sight of "ueautiful clothes arouses the instinct of possession among women kleptomaniacs-, so the presence of books inspires a psissicn for acquisition in some men. And with these .ften, as with the women, goes an uncanny artfulness which often succeeds in avoiding detection. Whatever the cur© may be., the disease is there as all bookmen know. The fascination of, books grows and theft increases.

GLENAVY STOCK SALE. i

(special to "the press.") WAIMATK, January 28, In spite of harvest opera lions there was a gooa yarding *nd a lair attendance of farmers a,nd buyers at the Glcnavy sale today. There was a yarding of 1090 sheep practically all being Tiia. The quality generally wjis good, and the lambs still lie.d lhat sappy appearance usual to Glenavy. Prices ranged iu the vicinity of IOJd for prime lambs and up to -lis per head. ThettaJes were:— ' Lambs— 79 at 23s 9d, 46 at 335, 87 at 32s 2d, 70 at 28s, 72 at 27s led, 43 :it 28s lid 24 at 335, 10 at 28s, 59 at 30s 7d, 10 at 30s' 4 at 41s, 10 at 375, 4 at 29s 9d, 20 at 29s 3d' 32 at 31s Gd, 5 at 32s 9d, 83 at 28s, 96 at 295, 30 at 29b 4d. Ewes—3o at 225, 3 at 24s Bd. Stores—63 forward rape lambs at 22s sd. SLAUGHTERING RETURNS.

ENGLISH MARKETS. The New Zealand Loan and ILercantilo Agency Co., Ltd. have received the following: cablegram from 1 their London office under <laie 25th instant: New Zealand Frozen Meat—lzunb lOd per lb (average); mutton prices unchanged. Market Blow. New Zealand Dairy Produce—Butter choicest salted 206s to 208s per cwt. Market affected by strike. Distribution much restricted. Cheese 102s to 105s per cwt. Market slow. STARR-BOWKETT SOCIETY. At a meeting of the Christchurch StarrBowkett Building Society, held in the Canterbury A. and P. Association's rooms, the bsilot in No, 1 Group resulted in-ball No. 305 being drawn, the cluster being held by i two members, and the sale in this Group « resulted in £6OO being tendered for at a premium of £35 per £IOO. In No. 2 Group ball No. 45 was drawn, two members becoming entitled to a- free loan of £SOO each. STOCK FROM NORTH ISLAND. (special to ''the pbsss.' 1 ) GISBOUNK, January 28. A shipment of £OOO owes is being made to Lyttelton this week. For some years past there ha 3 been a demand in the South Island for Poverty Bay stock, and an annual shipment has been made about this time of the year. A further shipment of ewes from the "Wairoa district will be made in a fortnight's time, but these will be eiUEped froip Napier*

The . following building permits were issued by the City Surveyor in December last:— v. 1923. 1922. WARD. No. Value. No. Value. CEKTKAi. £ £ (inner Area) , 3 2,530 1 83,350 (Outer Area) .. 6 3,675 15 21,110 ST. ALBAx\S .. 21 ?,5S1 17 11,188 SYDENHAM .. 12 6,250 10 8,772 LINWOOD .. 22 9,565 9 4,234 SPKEYDON .. 15 8,279 12 10,290 "WOOLSTON ~ 4 1,660 4 2,175 82 41,410 68 136,119 Since April 1st the following' permits have been issued: — WARD. 1923-24. 1922-23. No. Value. No. Value. CENTRAL £ £ (Inner Area) .. 61 106,893 35 107,035 (Outer Area) ... 83 72,642 89 89,708 ST. AIjBANS .. 260 157,014 178 100,389 SYDBXHAil .. 148 87,608 134 61,968 LINWOOD .. 161 82,801 103 51,980 ' 169 84,927 73 41,122 . • 40 18,953 45 20,013 SPREYDON WOQLSTON 922 610,836 657 472,271 and buyers may have come in early in the new year. Messrs Weddel give spot prices as follows —

Buyers Sellers. £ e d £ 3 d I-.Z. GOVT. DEBENTURES 4i per cent. Inscribed, 1933 9G 7 6 96 15 0 4i per cent. Bonds, 1939 — 96 15 0 i h per cent. Bonds, 1930 97 0 0 _ -i per cent. (Bonds, 1938 96 7 6 96 12 6 4£ per cent. Bonds, 1339 96 7 G 96 17 6 5 per cent. Inscribed, 1927 ... — 98 0 0 5 per cent. Inscribed, 1929 — S7 10 0 5J per cent. Inscribed, 1933 101 5 0 101 12 6 5J per cent. Bonds, 1933 — 101 12 G MUNICIPAL, DEBENTURES— Kowai County Council 6£ per cent., 1932 100 0 0 105 0 0 COMPANY DEBENTURE SNew Zealand Breweries 10 per cent. 1 0 3 1 1 3 Glaxo 6£ per cent., 1945 , SO 0 0 90 0 0 Gisborne Sbeepfarmers' 7i per cent., 1931 102 0 0 BANKS— Australasia 12 19 0 13 0 0 National of N.Z. 6 12 0 6 13 0 New South Wales 40 10 0 - New Zealand , 2 9 9 2 10 6 Union of Australia 14 17 6 14 19 0 INSURANCE— N ationai 3 18 6 4 0 0 New Zealand (cum div.) 1 10 3 1 10 6 South British 1 19 0 2 0 0 LOAN AND AGENCY— Dalgety and Cci: 13 0 0 13 6 0 Goldabrooigh, Mort 2 7 6 2 8 6 N.Z. Loan and Merc. (ord. stock) 82 10 0 84 10 0 SHIPPING— Howard, Sit ith 2 11 9 2 12 0 Huddart-Parker 2 2 4 2 2 9 FROZEN MEAT— Canterbury _ 15 0 0 Canterbury (pref.) 5 3 6 — N.Z. Refrig. (cont.) 0 11 3 0 11 11 "WOOLLENS— Kaiapoi (ord.) .. 0 19 7 1 0 3 Kaiapoi (pref.) — 1 0 3 COAL— "Wcatport — 2 0 6 Westport-Slockton (ord.) 0 4 0 0 i 5 GAS— ChristchuTch (cum div.) 8 2 6 8 5 0 BRE"WERIES— Crown (cum dir.) 3 0 6 3 1 6 Manning - 1 7 1 1 7 6 Ward 2 3 0 2 5 0 CEMENTS— "Wilson's ,. 1 10 4 1 10 9 TIMBER— Kauri 1 9 0 1 9 6 MISCELLANEOUS— Q Beath and Co. 1 13 0 Beath, Schies3 0 15 2 B-urns, Philp Eclipse Petrol (lOo paid) 1 13 0 0 5 0 Electro. Zinc (pref. cum div.) 1 9 0 Electro. Zinc (new issue, Is paid) 0 9 6 MaSon, Strutliers (£1 paid) 1 / 4 6 1 5 6 Mason. Strr.tliers (Ua v paid) 0 16 0 0 16 9 Mason, Stmthera (6s paid) .. .; 0 7 0 0 7 5 N.Z. Fanners' Co-op. (7ii per cent, bonds, 19261 73 0 0 78 10 0 N.Z. Milk Products ... 1 5 6 B.A.W.RJL 0 18 9

The abattoir slaughterings for December were: — Slaughtered. Condemned. Cattle 1923. 1322. 1923. 1922. .. 1247 1063 23 27 Sheep .. <7454 9369 36 23 Lamba .. 4886 5459 — 1 ' Pigs .. 1306 1381 1G 42 Calves .. 81G 521 9 2