FINANCE AND COMMERCE

Press, Volume LXXII, Issue 21941, 16 November 1936, Page 11

FINANCE AND COMMERCE

FIRMER METALS MARKET

IMPROVED DEMAND FOR CHEESE

A substantial increase in the British trade returns for the month of October is recorded in the week-end cablegrams.

The metals market has shown a further advance

The London butter market developed a weakness towards the end of the week after a firm opening. Cheese, however, advanced sharply, being better than at the preceding week-end by from Is (Id to 3s 6d per cwt.

The trend of values in the Smithfield meat market is satisfactory. Light-weight Jamb is firmer and the consumption is satisfactory. Wethers arc also in better demand at improved prices. The better lone extends to porkers.

PRICES EUR 1937 WHEAT

INCREASED CROP COSTS PREDICTED

NEW ZEALAND WHEAT GROWERS MEET "You have no doubt given a good deal of consideration to the possible prices you are to receive for wheat from the 1937 harvest. The cost of growing ancj harvesting the 1937 crop wifi certainly show an increase. It L too early yet to determine the amount of this increase, but when a reliable estimate can be made the matter will bo taken up by your directors with the Minister for Industries and Commerce (the Hon. D G. Sullivan), who. we know, is sympatnetie towards the wheat growers, and who is most anxious to encourage not only wheat growing but all local industries.” said the act-ing-chairman. Mr R. T. McMillan, at a meeting last week of the Electoral Committee of United Wheatgrowers. Ltd. “We Must be Reasonable" “I should like to say.” continued Mr McMillan, “that as wheat growers we appreciate the protection we have received! in the oast, especially during the depression years when world parity was low and wheat could have been imported below cost of production here. We realise that in some quarters hard things were said against the Government for its attitude in protecting the wheat growers, but we feel that it can now be shown that the industry was worth saving. We have always made the point, when defending the sliding scale of duties, that the time would come when wheat would be very costly to import into New Zealand. and that the industry should be encouraged, so that, when that time came, tire Dominion could be self-sup-porting. That time is now here. and. although I know that as growers we expect a fair price for our wheat, we must be reasonable in our requests. “We have not yet arrived at the end of the wheat year, but the Minister has announced recently that an additional payment of 4d a bushel is now in sight. This will bring the total payment to 4s 9d a bushel f.0.b., Tuscan March basis, and is at least 4d a bushel more than could have been paid under the scheme of prices operating last year. The total payment to the 1935 growers was -4s 7jd a -bushel, but -as hag been previously exolained, about 3d of this 4s 74 d was the profit made on the carry-over of wheat from the 1934 season., This wheat was purchased by the 1935 pool at the export parity and sold during 1035 at the full New Zealand milling price. Sprouted Wheat “'The most unfortunate feature of the 1935 season was the wet harvest, which caused considerable sprouting m a great proportion of the crop. The marketing of this sprouted wheat at first created a very difficult problem. 2nd, had it not been for the action of the Government in placing an embargo on .wheat and flour importations, a greatly increased quantity'of wheat and flour would have been imported, with the result that a large proportion of our crop, subsequently sold for milling wheat, would have been forced on to the fowl wheat market, which was very depressed at the time. Actually, up to date, some 6.600.000 bushels have been handled as milling wheat by the wheat committee. In addition to tins, it is estimated that some 500.000 bushels would be used for seed wheat, thus leaving only 1.750.000 bushels for the fowl wheat market.” Mr McMillan urged growers not to dispose of their sprouted wheat --:s fowl wheat, or for any oth°r purpose, until they first received advice as to whether it was worth holding for sale es milling wheat next season. It was believed that much of this wheat, while unsuitable for milling this season, might be disposed of next year for mixing with soum wheat in the early part of the season. World Developments Mr McMillan read a letter from the Minister, in which Mr Sullivan stated that, as chairman of the Wheat Committee, he wished to thank the members of the electoral committee for their co-operation and assistance in the matter of collecting statistics and disseminating information amongst the growers. The Minister assured the meeting that the Government fully realised fhe value of the wheat growing industry to the Dominion, and looked forward with confidence to the whole-hearted co-operation of all wheat growers in its efforts to place the wheat, flour, and bread Industrie? on a sound economic footing for the benefit of every section of the community. “World developments.” continued Mr Sullivan, “in the matters affecting the commodities being handled by the Wheat Committee will nro* sent some vital problems for snlutio” during the next few months, but, if we will all remember that no problem is settled unless it is settled right—that is. with fair olav and justice to all parties involved—the foreseen difficulties will dissolve in an atmosohere of co-operation and goodwill to the mutual satisfaction of all.” A cordial welcome was extended to Mr L. J. Schmitt. s°cretarv of the Department of Industries and Commerce, tvlm addressed the meeting. Lost Day for Accepting 1936 Wheat The Wheat Committee of New Zealand has decided that the last day for accepting 1038 wheat at present prices shall be November 30. LONDON PRODUCE MARKETS - LONDON. November 14. Friday’s closing prices were:— Cotton-Spot 6.71 d per Id- December 6.49 d, Rubber—Para lid per lb. plantation smeked 7 9-16 d. Jute—Ncvember-Dccember. £l9 4.= 4£d a ton. Copra—Npvember-Deccmber, .South Sea £lB 2s 6d a ton. smoked £l6. plantation Rabaul £l6 15s. Linseed oil— £1 7s fld per cwt. ' RABBIT MARKET LONDON, March 14. The rabbit market continues lifeless Owing to extensive English and Irish f pplies; Large, ex store, are quoted, nominally, at 21s,

CONTROL OF ALL WHEAT

GROWERS TO MAKE REPRESENTATIONS “ADVANTAGE TO POULTRYKEEPERS” A decision to make representations to the authorities, to control all wheat (including fowl wheat), was arrived at a meeting of the electoral committee of United Whcatgrowers (N.Z.). Ltd., last week. It was considered by tire meeting that such control would be of advantage not only to the wheatgrowers. but also to the poultrykeepers. In the absence of Mr H. F. Nicoll, chairman of directors, who is at present abroad, the chair was taken by Mr R. T. McMillan. Forty-nine delegates were present, there being only one absentee.

The Minister for Industries and Commerce (the Hon. D. G. Sullivan) wrote stating that, in accordance with a request from the Farmers’ lUnion, he would be pleased to give wheatgrowers the opportunity to submit nominations for membership on the Wheat Committee, but the final decision regarding appointments would rest with him. The meeting thereupon decided to nominate the present members of the committee, whose names will be submitted to the Minister for reappointment. The present members are Messrs W. W. Mulholland. A. Grant, G. L. Marshall, and R. T. McMillan (who, by arrangement, is deputising for Mr H. F. Nicoll. pending his return from England). United Wheatgrowers’ Officers Appointed

It was reported to the meeting that the “Wheatgrower,” the official organ of the United Wheatgrowers (N.Z.). Ltd., was satisfactorily fulfilling the functions for which it was established.

The chairman reported that the retiring provisional directors had all been re-elected unopposed, as follows: Messrs J. Carr (Methven), A. Craig (Balcluthai. A. Fisher (Culverden). A. Grant < Waimate). R. T. McMillan (Irwell), W. W. Mulholland (Darfield). H. F. Nicoll (Ashburton). Appreciative reference was made bv the chairman to the services of Mr McPherson, manager of the Wheat Committee. United Wheatgrowers <N.Z.>. Ltd., he said, were indebted to the Wheat Committee for allowing them the use of its offices and staff free of cost. Members would be pleased that they were still to retain Mr McPherson’s services, and that his wide knowledge of all matters concerning wheat, and his marked ability as an executive officer, would be available to them. BANK OF N.S.W. DIVIDEND DECLARATION U’iS*SS ASSOCIATION TSLEGRAII.) AUCKLAND, November 15. Advice has been received in Auckland that the directors of the Bank Of New South Wales, at the annual meeting in Sydney on November 27. will recommend payment of a dividend of 6s a share for the quarter ended September 30. Three quarterly dividends of 5s a share have already been paid, and the proposed distribution raises the total for the year to 21s a share, equal to 54 per cent, as against 20s or 5 per cent, in the previous year. BRITISH TRADE SUBSTANTIAL OCTOBER INCREASE LONDON, November 14. The Board of Trade returns for October show imports at £80,539,000. exports £41,764,000, and re-exports £4.470,000. The principal increases compared with October of last year were:— Imports—Grain and flour. £1.235.000; meat. £781.000: tobacco. £410.000: wood and timber. £1.145.000: raw cotton. £518.000; wool. £714.000; other textiles. £471.000: hides. £409.000; machinery. £379.000: oils and fats, £1,044 000. Exports—Beverages. £346.000: cotton. £452,000: vehicles. £905,000. The decreases were in 'imports of dairy produce. £476,000, and beverages £660,000, TREASURY BILLS LONDON. November 14. The total amount applied for in tenders for £45 000,000 sterling treasury bills, was £67.420.000. The maximum amount was allotted in bills at 3 months. The average rate per cent, was 10s 6.24 d. compared with lls 0.59 d a week ego. THE METALS MARKET LONDON. November 13. Nov. 12. Nov. 13. Conner — £ s. d. £ s. d. Standard, spot 42 18 3 45 5 7i Forward . 43 3 14 43 13 7i Electrolytic 47 0 0 47 10 0 to .. 48 0 0 48 5 0 Wire bars 40 0 0 48 5 0 Lead— Spot .. 20 13 3 20 17 6 Forward . . 20 13 3 20 17 6 S nel ter — Spot .. 15 8 9 15 15 0 Forward .. 15 15 0 16 1 3 TinSpot -. 235 12 6 239 7 6 Forward .. 232 17 6 239 2 6 SilverFine. per oz. 2013-lGd 21d Standard, per 22 7-16 d 22 11-I6d Pig Iron— British .. 315 0 3 5 0 Foreign .. 3 12 6 3 12 6 Antimony— „ „ „ British 68 0 0 63 0 0 Foreign 45 10 0 46 5 0 (a unit) Molybdenite 1 17 0 1 17 0 Wolfram .. 19 0 1 10 0

STOCK EXCHANGES

CHRISTCHURCH SATURDAY’S BUSINESS There was a moderate turnover on call on Saturday morning—price movements were irregular. Transactions. exclusive of vestibule business, were;— LISTED STOCKS Sales on ’Change £ s. ci. 200 Com. Bank of Aust. (2) 0 18 10 100 Go'dsbrough, Mori .. 1 16 6 250 N.Z. Refrig. (10s pd.) 0 9 3 0 9 2 200 Anthony Hordern (cum div.) . . 0 19 5 0 19 6 10 Colonial Sugar .. 43 7 R 200 Wilcox M off] in 0 1111 0 12 0 300 Mount Lyell (cum div.) (2) 1 15 4 1 15 G (2) 1 15 V 500 Rawang Tin (3) 010 9 Sales Reported 22 Dalgcty and Co. (cum div) 10 5 0 250 N.Z. Refrig. (10s pd.) 0 9 2 0 9 1 ICO Wilcox Moffiin .. 0 11 1L UNLISTED STOCK. Sale on ’Change 25 Woolworths (Sydney, ord.) . Cll 6 Mercantile Stocks Firm Commercial Bank of Australia remained unaltered at 18s lOd. market closing Id either way. Bank of New South Wales were easier, with sellers at £35 ss. Dalgety and Company, cum dividend, advanced to £lO ss. Goldsbrough. Morts were firm at 3Ss Cd, closing quotations Id on cither side. New Zealand Refrigerating. 10s paid, showed an easing tendency, with dealings at 9s 3d. Ds 2d. and 9s Id. and (here were further sellers at 9s 2d. buyers at 9s. Anthony Hordern, cum dividend, changed hands at 19s 5d and 19s 6d. and these were buyers’ and sellers’ closing quotations respectively. Buyers of British Tobaccos raised their bids to 40s sd. but sellers wanted 46s Cd. Broken Hill Proprietary were firmer, with buyers at 83s 3d. Colonial Sugars had business at £43 7s 3-d. market closing 2s Gd either way. Dunlop Perdriau Rubbers were fractionally weaker, with sellers at 17s 9d. Wilcox MofTlin were firmer, with dealings at lls lid and I2s. and further buyers at the higher price, sellers at 12s 3d. Mount Lyells were fractionally firmer at 35s 4d. 35s Bd, and 35s 7d. market closing 35s 6£d buyers. 35s 8 1 sellers. Rawang Tin were firm, with sellers and dealings at 10s 9d, buyers at 10s Bd. Unlisted Stocks Woolworths (Sydney). ordinary, dropped to £6 lls 6d. and there were further sellers at £G Us 3d, buyers at £0 10s. Woolworths (West Australia) were easier, with sellers at £6 15s Cd. buyers at £6 ss. AUCKLAND # Sales on ’Change C s. cl. Auckland Trans. Board, 1944-40, 4J per cent. . . 103 0 0 National Bank of A’asia. (£5) 7 8 0 Bank of N.S.W. (Syd. register) 35 5 0 Goldsbrough. Mort ■ 1 is a Mosgiel Wool . . . . 014 0 Broken Hill Proprietary .. 4 2 0 Colonial Sugar .. .. 43 5 0 Talisman Dubbo .. 0 10 C Waihi Investment .. .. 0 11 G Unofficial List Woolworths (Sydney) .. BUG WELLINGTON Sales on 'Change ’’ £ s. d. 31 p.c. Ins. Stock. 1939-43 .. 102 0 0 34 p.c. Stock, 1939-52 . . 104 13 0 Bank of New Zealand (2) 2 1 3 2 l G Broken Hill Propty. .. .. 4 10 4 0 9 Dunlop Perdriau .. ~ 0 17 8 Barrytown Gold . . .. 1 10 0 Mount Lyell .. 1 14 8 (All late Friday) Union Bank .. 10 0 () Broken Hill Propty. 4 3 0 Unofficial List Woolworths (Sydney) .. Gl7 0 Woolworths (late Friday) .. Gls o DUNEDIN ' Sales on ’Change f s. d. Bank of New Zealand .. 2 13 National Insurance .. .. 0 18 10 Broken Hill Proprietary .. 4 2 B 4 2 9 Mount Lyell (late Friday) .. 1 14 9 Nokomai .. .. .. 0 2 G Unlisted Stock Woolworths (Sydney) .. G 15 0 SYDNEY Sales on the Sydney Stock Exchange on Saturday include: — £ s. d. Commonwealth Bonds—--3, 1 } per cent., 1951 .. 99 0 U 4 per cent., 1938 .. 102 5 0 4 per cent., 1950' . . 102 2 G 4 per cent., 1955 .. 102 2 G 4 per cent. 1559 .. 100 17 0 Bank of New South Wales .. 35 7 6 Associated Newspapers .. 1 4 7.) British Tobacco .. 2 7 3 Broken Hill Prop. .. 4 4 0 Electrolytic Zinc (pref.) .. 2 8 9 Henry Jones -. 2 C 9 Peters Ice •. 2 6 G FOREIGN EXCHANGES (BIUTISU OKKIi'IAI. WinEl.EtiS.) RUGBY, November 14. Par. Nov. 12. Nov. 14, Paris, IT. to £1 121.21 105 9-84 105 9-64 New York, dol to £1 4.8G6 4.87J 4,l!Ci Montreal, „„ , dol to ( £l 4.0G6 4.8(1 4.87J Brussels, * _ ... belgas to £ 1 3a 23.84 -8.86 Geneva £1 25 0 215 2 1.22J 21.224 Milan, hre 02 46 g27 . 16 92 u-16 Berlin, reieh--1 markon to £1 29.43 12.12^ Oslo, kr. to £1 18.1a9 19.90 19.90 StoCW, k°r m to £1 18.159 19.394 -19.394 Vienna, Prague. kr. to £1 134.25 137?, 137? Helsingfors. marks lo £1 193 23 228:J 2281 Madrid, pesetas to £1 25.221 a Lisbon, escudos to £ I HO 110 3MB 1103-18 Athens, draeh to £1 375 540 545 Bucharest, lei lo £ 1 843.8 G7O 8374 Belgrade, dinars 25.2215 213 2)3 Rio de Janeiro, pence to milreis .. 4.899 4.4 44 Buenos Aires, pence to dol, 51 Montevideo, pence to dol. * 394 394 Bombay pence to rupee 19 -184 18A Shanghai, 1 pence to dol. * 14 17-32 14 9-16 Hong Kong. pence to yen * 15 15 Yokohama. pence to yen * 141-32 141-32 Batavia. guilders- 12.107 9.02 J Warsaw, par zlotys to £1 43.36 25.90 * Determined by price of silver.'

PRICE OF GOLD

LONDON, November 14. Gold is quoted at £7 2s 71d a fine ounce.

SMITHFIELD MARKET

LIGHT WEIGHT LAMB FIRM

The New Zealand Meat Producers Board advises (hat (he following are the approximate average prices realised for the week, based on actual transactions cf wholesale quantities of the descriptions of meat mentioned and are for representative parcels of tho goods offering during the week, being tor business dene on the basis cf delivered to Smithfleld market, and/or ex London stores: —

(Prices for the two previous weeks arc also shown.)

Per lb. Nov. Nov. Oct. 13. 6. 30 d. d. d.

N.Z. Sheep— Canterbury & North I s land selected crossbred wethers and maiden ewes: r vuib and under 3,1 3 •’ 48 to 56ib .. 4;; 44 41 37 to 641b , . 41 4;{ 63 to 721b . . -lil 43 North Island crossbred wethers and maiden ewes: 48 to 561b .. 44 4i 4457 to 641b .. 4A- 43 42 05 to 721b .. 43 4i 44 Ewes: 481b and under 4i 4i 4g 48 to 641b .. 3J U U 63 to 721b .. 33 33 33 N.Z. Lambs—Canterbury— -361b and under 7[; 74 7 4 37 to 42ib ..7 -7A 74 43 to 501b . . 64 64 64 Second quality Average about 311b ..7 7 7 Other South Island - - 301b and under 73 74 7:1 37 to 42 b ~7 74 74 43 to 5111b .. 64 64 64 North Island Downs - Second qualityAverage about 30 ib . . North Island—First quality 361b and under 74 7‘, 74 37 to 421b , . 64 7 7 Second quality Average about 3llb Argentine Lambs—--Ist quality—(New season's) 361b and under 6 : { C : ; 6;j 37 to 421b . . 62 62 6g N.Z. Frozen Beef— Ox hinds, 145 to 2101b .. 3:f 3.J 33 Ox fores. 145 to 2101b .. 23 23 2.3 N.Z, Chilled BeefOx hinds. 145 lef 2101b .. 43 42 42 Ox fores. 145 to 2101b . . 23 22 23 Argentine Chilled BeefOx hinds. 145 to 2101b , . 5.1 54 51 Ox fores. 145 to 2101b . . 34 3 34 Uruguayan Chilled BeefOx hinds. 145 to 2.101b . . 5 43 44 Ox fores. 145 to 2101b . . 24 24 24 Australian Frozen Beef— Ox hinds. 145 to 2101b .. 34 33' 33 Ox crops, weights corresponding 2.3 23 2$ Australian Chilled BeefOx hinds, 145 to 2101b .. 44 Ox crops, eights corresponding 2.3 Union of South Africa Chilled BeefOx hinds, 145 to 2101b ..54 Ox fores, 145 to 210 ib .24 Southern Rhodesian Chilled BeefOx hinds. 145 to 2101b ~ 43 4.3 44 Ox fores. 145 to 2101b ~ 23 23 22 N.Z. Porker Pigs—lst quality--60 to 801b 6; 6i 6\ 81 to 1001b .. 64 6 64 101 to 1001b .. 02 63 62 N.Z Prime Baconer Pigs—--121 to 1601b -. 64 6J 64 Lamb Market—Firmer for prime light-weights. Consumption good for the lime of year. Mutton Market —Wethers, better demand. at improved prices. Ewes, fair trade at unchanged prices. Beef Market: Frozen beef market steady and unchanged. Chilled beef prices slightly better this week. Now Zealand Porker Pigs—Better demand, owing to colder weather, with improved prices. New Zealand Baconer Pigs—Nominal.

DAIRY PRODUCE

CHEESE MARKET FIRMER By arrangement with the Primary Products Marketing Department, the following information is supplied lor tiie week ending November 14:— Butter New Zealand salted. 109s to 110s (108.5 to 109 a last week): unsalted, not quoted. Australia!! sailed. 108 a to 109s. ex 110s (107s to 108s). Danish, 105s. f.0.b,, J2ss spot (105s, 125-s). Dutch, unsalted. 101s to 105s <97s to 995), Siberian salted, 100s to 102s (935 to 100s). Ukranian, salted. 100s to 102s (98s to 100s>. Polish, salted. 92.:, to 93s (86s to 90s): unsalted, 965, ex 985. After firm opening market, there is a quiet tone. Prices easier. New Zealand retail price Is to Is Id. generally, Is Id next week. Cheese Now Zealand white. 73s 6d to 74s (72s to 72s fid); coloured. 71s Cd to 72s to 72s fid (08s to 695). Cheese market (inner. New Zealand retail price 9d. Market firmer at 71s to 755. Canadian, white. 72s to 74s (71s to 735); coloured, 71s to 72s (70s to 715,). Market firm on available short supplies. English, finest farmers, 82s to 88s (82s to R6j): English factory cheese. 65s to 70s (C4s to 70s). Market firm.

MINING

ARGO RETURN The Argo gold 'dredging return for last week was 76 ounces for 132 hours, 15,000 yards being dredged. NEW RIVER RETURN j 1 The return from the New River dredge last tveek v/as 19 ounces for HO hours. WHITE’S ELECTRIC The return from White’s Electric dredge fßarrytown) was 27 ounces for 122 hours from 10,092 yards. WORKSOP EXTENDED I The following is the return for the j week ending November 12:— Yield 25 ounces, hours dredged 133,1 yardage treated 10.200. ! 1 MAORI GULLY j tragss issocuTioN rsn(jg*y,) GREYMOUTH, November 14. The Maori Gully return for the week was 29 ounces for 133 working hours. TALISMAN DUBBO A total of 42 1-5 tons of ore was; treated at the Golden Dawn battery: for an approximate realisation of £267. j WAIPAPA BEACH (PRESS iSSIICU TIOR I RI.ICRiX.) DUNEDIN. November 15. The Waipapa Beach return was 22 ounces for 134 hours. ; SANDHILLS COMPANY j A wash up of 19oz 15dwt was se- j cured during the period October 27 to 1 November 12. BIG RIVER GOLD MINES The report for the week ending No- j vember 9 is as follows; ; No. 4 Level—South slope, Tire last; slope has been filled and a new on® I started, but the length of stone is! rhorter. Centre slope; The stone going | north is gradually cutting out, and it 1 looks at present as if the new make of: stone going into the hanging wall will j take its place. No. 5 level; Distance, 19 feet for the week. Total distance i now driven is 268 feet. The country | rock is changing and we expect to [ strike the reef track shortly. Twenty-J (ive tons of stone were delivered to ■ the bins for the period. I

ANNUAL BULL SALE

H. Matson and Company report having conducted their annual bull sale in Tatter - sall’s Horse Baraar on November 14. The total entry comprised 84 bulls, representing 12 beef Shorthorns. 11 Frleslans, -1 Je’-sevs, 1 Ayrshire. 1 Guernsey, and 3o milking Shorthorns. The sale was rapldlv conducted, competition being keen throughout at prices that showed a distinct Improvement on last year. There were not sufficient beef Shorthorns on oiler to meet the demand, and the best milking Shorthorn bulls came In tor spirited competition. Friaslans wore not quite so popular this yesr. and the standard of the Jerseys showed an improvement, but for this class of cattle buyers were not very interested. There were only five bulls not sold out of the total catalogue. The following represents the principal sales:—

MILKING SHORTHORNS Gs. One yearling at 13 On account of Executors Bowis Estate Doyleston—Three yearlings at . 15 On account cf Mr W. Barnett, Tai Tapu—One yearling at .. • ■ On account of Mr F, Crockett, Little River-One yearling at . • la On account of Mr A. W. Hurford, Doyleston—One yearling at 15 One yearling at • • Two yearlings at • • *•» One yearling at ■ One yearling at * One yearling at ~ On account of Mr J. M. Johnston. “Park Farm.” Elft'elton—One yearling at •15 One yearling at ■ L One yearling at ~ • ■ On account of Mr Gordon Jones. Little River—One yearling at .. ■ • Hi One yearling at • • ’0 On account of Mr G. If. B. Lill, Wlllowby—One yearling at .. .. II On account of Mr J. W. Mathers, sen., Sefton—One yearling at .. 12 One yearling at •• .11 On account of Mr E, C. McDermott. Spreydon—One yearling at 10 On account of Mr Robt. Peach. Ashley Bank—One yearling at IGi One yearling at .. HJ One yearling at .. 10J Three yearlings at .. .. 10 One yearling at .. 12 On account of Mr Jennings Peach, Sefton—One yearling at .. .. 14 On account of Mr G, W. Robinson, Greendale—One yearling at .. 10$ On account of Mr E. A. Clark, Greenpark—One yearling at .. 8 On account of Mr c, Loffhagcn,

Ranglora—One yearling at ~ 10 On account of Mr Sam Smith, Cust —One yearling at .. ■ ■ 7 On account of Mr P. Jarden, Hillsborough—One yearling at .. FHIESIANS On account of Messrs Bell and Manson. Governor’s Bay—One yearline at .. .. 8 On account of Mr P. J. Finn, Sefton —One yearling at .. 9 One yearling at .. .. 8 One yearling at . ■ .■ • 7 On account of Mr Chas. Hughey, Rangiora—One yearling at .. 12 One yearling at .. 8 On account of Mr P. Robinson, Waikuku—One yearling at .. 11 One yearling et, .. .. 10 On account of Mr A. H. Wheeler, Motukarara —One yearling at .. 10 BEEF SHORTHORNS On account of Exors. Estate W. B. Cunningham, Brookslde—One yearling at .. ~ 9 On account of Mr Roger Chamberlain, Ellesmere—One yearling at 20 On account of Mr H. E. Chamberlain, Ellesmere —One yearling at .. 17 On account of Canterbury Agricultural College. Lincoln —One two-year-old at .. .. 7 One six-year-old at 9 One two-year-old at 9

One yearling at 22 On account of Mr J. J. Earl, Owl —One two-veav-old at .. .. 8i j On account of Mr Robt, Hampton. i Little Rakaia—One three-year- I old at .. .. 8 j On account of Messrs J. L, and J. I Storry, Christchurch—One two-year-old at .. .. .. 1.3 One two-year-old at .. 10 JERSEYS On account of Mr E. H. Barker, Burwcod—One two-year-old at 5 On account of Mr H. D. Butterick, Elgin—One yearling at .. .. 17 On account of Mr Thos. Johns, Leithflcld—One yearling at 8 On account of Mr Geo. Loffhagen. Culverden—One yearling at 9 On account of Mr F. E. Martyn, Rangiora—One yearling at ~ 7 One yearling at .. 5J On account of Mr G. B. Page, Leithfield—On© yearling at .. .. Hi On account of Mr J. Patterson, Sedgemere—One two-year-old at 7 On account of Mr A. O. Silcock, Ashburton—One yearling at .. .. 9 One yearling at .. .. .. 8 One yearling at .. 7 On account of Mr W. J. Russell, Lelthfield—One yearling at .. 9 On account of Mr R. White. Halswell —One three-year-old at 5 AYRSHIRE On account of Mr H. Jamieson. Balcairn—One three-year-old at .. 41 GUERNSEY On account of Mr A. A. McLachlan, Fendalton—One yearling at .. U —I