FARMING AND COMMERCIAL.

Dominion, Volume 3, Issue 774, 24 March 1910, Page 10

FARMING AND COMMERCIAL.

THE WOOL SALE QUESTION. ■ : ' : DOUBTFUL FIGURES- ■'■''■'" : In -• Tuesday evening's;.:" "Ma'nawatu Standard , ' there. appeared a paragraph in'.which 'comparisons- wero-made ! between; the'average prices obtained"; for wopl-at. the, London and the local wool sales; Yesterday a DOMINION; representative obtained - the, views, of • a 'number/of leading; brokers on the -figures quoted, and,the inferences drawn* The. paragraph' ran as follows: —: . ...

:' "The question of; selling wool iirNew .Zealand.in'preference to shipping Home is. much,discussed at present,- each side baying-.its supporters. A local firm; which.has interested itself in the inatjter, h?s brought under o,ur notice a let..tor received' from'their. London agents : stating: the- latter had goue througii the Wool salev figures x for the vnast, "eight years anil; they show "an average "in. favour of- saie on the London market £2 As. Ud. per -bale.. Tho .'only, year ,in, which - the. i\'cw-Zealand: sales ..beat the, London.', market', it .was-stated, was with the. 1907 dip, when New Zealand prices were 75.. W...per. bale to tho-good.. The local .firm; further,- state, that on; top of this-' information'- they, yesterday receive ed-a copy.of' Thomas and Cook's Go',6-; nidi Wool Report on the January'sale's,, and -an-.extract' from- the. report- is as 'follows i-ir'The.. result ..of ■■-';■ , ..sales' : must on'.tiie Vhole'iiboi'vbry.' satisfact6)'y\ to shippers to, the.London mairkeU.,- In.-.the.-case: of New Zealand wools in ■particular-, several largei clipsof crOs'sbreds;. bought'-speculative! j'. in.-the Dqininiou ■ havo—been ; . resold during the series.'at. price's-,'that .show .'■ handsome profits: , !. , -:'••■■'•: '"-.-"?;;' ■•' ''■''':'■ '■■''■"' ■'■ Tho general, opinion among -the brok-ers';-.wa3y that . such:'a. comparison, only .eerved.'to'.mislcad. ,One -broker said he :would:-.bp;' very .interested', to 'knb\y.:,on. what basis■ the average'-.price- pci'rbale. •was/arrived at, particularly.for- the.wool' «old ■ in. tho -"' Dominion.:Y; Another' was'-.'.'-'askpd-.V'.'jf,-'- ; " uo :•• .would': . chal-. : lengo • ■'. ■ the" ' figures, y ' and-:;-<said'; '■ -it would as ■• : -difficult , .;■. to challenge' 'that -£2:45; 9d ! . difference,' : almost as -difficult, as he was quite sure, it would . be- to .prove, it;; There:, were agreat imany-: circumstances- wh-ieh.pre-: tented., any rough> : general. : ayerage i from giving a ,truo indication, of- the. . positiph.'' In: tho. firet place'.the, best, and' evenest lots:of-New.Zealand, wool,. those' , , from, the; big'and': oM-est-ablished: flocks,, were : . still.-. going:: difeet -to 'LpndonV At;'-the same.time tho/big sheepowners, very often sold, their .-pieces- at the iocal^.salesj'.which' also; 'received' large quantities of • mixed and inferior woolL.that:-never . reached, the -Londonsales.. -'■;London got' the. pick • of.' our' clip. and tHe.-.job-Vof. cleaning- tip. the it.:: A ; comparison of.the , general' average, price., per .bale, gave; no, '.practical >'guidance to . anybody.: , : 'The ; London rhousas, : one of; the local 'brokers; : declared/".were being hit pretty "hard by, the.: growtlt'-.of the/colonial-, wool, ■safes," but-'fpr;»riy. housei: to/ attempt: to, mislead outsiders, as to the position.'by: an all-round' comparison-, that, lunined in all,the.faults oiie and two-bsle lots' to .New Zealand's.:detriment was absolutely unfair.- ,; '!: ' ■".... ■ .' ■■":'■' Another broker, said ;tl;e best proof, of .tlie. pudding was. in'the., gating,, and tho best. indication of. the. relative advantages of local'and .London selling was to be found, in experience-; of .growers : whp ;pijt up theirV'vfoPl at ;tn«; local*sales; .aid then, not being satisfied with, tho offerings,' withdrew and 'shipped to 'Lb'nS dpa. From his experience he would, say that it-. was ottly", very'occasionally that i", grower did better '■ for."Himself-, •by, pulling out in this way and-ship-ping, to. London. To take a current instance, there -was hardly, a man whose clip: was offered at. the. London. March, .sales.:who would ;'not:..'have.' done.':-bet?.' , ~ ter for himself-' in -the .Ppminip'n;;. ferring .'again to tho' gcneral' 'eompariEon made, .this, broker said it had , .to be. rejmemhe.rCd p that tlie: LQndon ayerage ,wi : s brought'up by the.'fact that all the',,-.scoured wool : shipped ; by. tho. meat companies", was .'offered there ;and not in New; Zealand. ~:,ln'iAustralia,. like.Bo per cent.'e the- wool.' was.-being-'soil locally, jaud'it was only, the odd-matf who. shipped Home.' He had. no ■ doubt 'that despite,;th'e conservatism pf ;i the big growers, this , was what", would eventually happen in New Zealand. ; As,-for tho'-statement that wool bought s'pcculatiyely- in New Zealand: had. been; resold in London at. a lindspme. profit,- it. was necessary to remember, that ■ ncaily ; wholo of this, was;,tjken. out jyid' sorted and classed .''again*.before', being!'offered in. London'. ■'/'.lt.'wa.s in. fact a difEercnt ' article 'altogether.';:' :'■'. ; '■''.'.'■''■■ .';. SummingiUp'tne ppsition'lthe.head of ■leno of, the. lccal. 'houses said that' if one/declared that it' was invariably ; ter to sell, in':i-'tho Dominion than, tp ship .'one i would have to admit that the ' buyers' came but, hero to pay, more, for .their ..wool:., than, they were-likely.'to ? have: to p3y;in. London. The, age .;0f....th0; .local sale's, was that the grow.cr was';:enahlcd to. tcrminito his risk.much earlier than byshipping, and' ■to: realise at the fair, market value of the - day ratlier \ than take .the' ehanco of , making,a gain'or'a loss in London.

POINTS IN PIG-RAISINU. A-TARANAKI PAPER. ■■'An. interesting, paper- on. the vexed giiestion. of pig-raising was read before trie Haweri; branch . of' the. Farmers'. Union'a'few., days, ago by .Mr. J. R. Corrigan,/president, or. the branch. Iβ : opening his'; paper, Mr. .Corrigan. said inost or. those prosent would, no doubt .like', to .find: a remedy for the present. low. price 'of pork. The price in Eng-land-.-ran.'.-at:: (3d. to 7Jd. per lb.,' yet they could'riot: get more than about half that'sum from tho companies here.If, farmers wished to , take L tho matter. in hand, the first thing to/do' was to reduce the proportion of diseased pigs. "It , is recognised," continued Mr. Cor-, figan,;."that:there-is no :animal so susceptible to -lung : diseases, as, a pig; therefore it', is necessary that above Jill things pig's should have' a. good, warm house and- dry' bed to sleep in; .That/is the .'first, step.necessary. in start-. ing. pig-farming; Secondly, feeding is very, important. To keep! down- disease ■in the ; pig -all dairy factories' should .'.pasteurise'the whey and,'skim milk so .'»».'-to kill any microbes that may get. into it, and the farmer himself, should he have" any animal food' , to feed his pigs,, should always boil it v/ell before giving it'to-them. If: he is. not-in a position to boil it he should bury it. Far. better .do that than to run the riek of spreading-disease among his pigs. Then, again, there, is' the finishing off; of-the pigs before they so into the works.. It is no use trying to finish off pigs to make first-class, quality, pork .without'you have some solid food of tome sort'or other to giT« them—-either karlcy, maisfa, peas, or grain. of som« sirt, ethofwise your pork .will be surt to eome'out'sccond-ciaes. "It may appear to. you. to be first quality, but I can. assure you when killed and hung up'you can easily tell the difference. At. the present time I have no hesitation in saying a lot of farmers produce pork and expect to gnt first quality price for it; .and yet they would not tat; it-themselves. Veil, this sort of thing 'is "injurious to the trade as 'a whole. The aim of every farmer slioulu be to produce pork of the .'very, best

NEWS AND NOTES.

quality, free from disease, and then I feel'•'■SUl-β wo will always get a good payable, price from the factories for it. Another thing a farmer should.always try and aim at in producing pork, oi meat of ;.any,,sprt J ;is, to breed animals with "as'little' bone "as possible.", Speaking, of the best breed of pigs, Mr. Corrigari: said: .;" VMy experience . is\ that tho most useful breed of pigs for a'dairyman to rear; is the TamworthBerkshiro cross. I. find tho Tamworth sow'crossed with a good low-set wellshaped. Berkshire, boar gives good re-I suits. They are good mothers and have ,largo..':litters. TJjo.,:.progeny are good quality pork, , with a good percentage of.lean meat. The Tamworth pig has 'gone out'of.''fashiori of . late,, owing greatly' to farmers not selecting the right sort for breeding purposes. All animals of any.breed .are. naturally inclined to degenerate, and. it; is only by careful .culling •' and proper 'mating of sire and dam that a high standard of breeding can bo maintained,' 'Farmers should bo-careful in , mating'-their pigs land--select"a; , hog that, has very strong points"'" o 'f'what, his sows are weak.in; and vice versa."

AUSTRALIAN JOTTINGS. ■ SHORTAGE OF DRAUGHTS. ■New:' Zealand shippers _. have; lately been sending large consignments ■of draught horses to Victoria'and-.-New .Sbujh ■ Wales, and there now appears- to be another good opening for draughts in South Australia also.' Tho.correspondent of. the "Pastoralists , . Review" iii' ;.that: State; ■ writes:—" If ■', agricultural development in the next; few. years progresses'in corresponding ratio with the last' .half-dozen _•' seasons, a famine, in draught horses .is -mbro than, probable. It is now almost impossible to get "a team together at,a cost of less than £50 per head," while brood mares of quality are .worth- anything up to' £00, aridrpromising-looking yegrlings. will sell'.fpr,:£3o to -£35i- -Thereforei ifi 1000. acres are up; and . (say)', half''is' cultiva'tea, /sixteen; horses' willbe: needed, v -'and they v/iU'cosb_ hardly' less.'than £SOO. '. A caso in point: At Parilla; the other day * farmer with a; connection with a stbckdealer, in the .north-, received.. a. truck .of ninp animals ;1 six. wero taken; at :£45 .per head.assoon: as. they .were landed,, white the following morhing-the balance was rushed at equally- good prices:.'. 'At'Caltowie only a..fortnight ago:- an : average- of. £50 135.'id.f.was::paid ;for eighteen draughts; - Thus it'is.'.quito plain--thatjhorses-are , , now tho /farmers' - .prinoipal •- outgoing.' Implements;, superphosphates, and other: things "may. be-obtained on; terms, but, no .time-payment business is done in horseflesh. :If is : ready, cash, and pay-: .ment'oh'the.head.allthe time. The explanation of the shortago is not far to .seek. -An enormous' area of. new country, has: been opened up in all parts of, t-hq '.State,-while a' larce .number of. ■animals/.have 'recently: been , shipped-r ;principally- ; --West<eny : Australia. , Of. .course,'".the. possibility, of drought has. tp.Tje'.':'facecU'ifi breedißs,;and' ; that; perhaps," js'.why the rearing of suitable stock is." not more, general; Still,-' at would seem that ,tho : nie'n -who care, to invest in this particular, business would: reap an-exceptional return , just now.": ■ Mr. : ' A.' H-. :.-.BenEpn, ■' of the Queenslafld Agricultural.Departm'ent, has been nominated ". by the .Tasmanian Public Service, Board for;the position of Director of Agriculture. Ministers, have yet ,te^cbnsiaeru;the.<nomiaationsi ; ,. ,!; ..•'!,. '■^Final'' v e"stima.t€a' ? "qT-'*tHf"Soutli ' Aus:tralian twheat {yield.jpjace^h 6 return at '24','475,000- bushels, an'ayerago of 13} bushels-per,'acre. ; . This will, allow.of -an exportablp; surplus -, of twenty .arid twentyTOne-.'n)illion..bu_sliels; and an exceptionally active shipping campaign will thus: be witnessed. The- first two months of the year-have been characand. already " : lwtween^.aJx~anU' v cei;en 'million, i'bushels. 'have, been' shipiJe'3^;' ■ ; '. .'■.-. ■'•', Professor R. D. Watt, who was recently appointed to the Chair of Agriculture at: the' Sydney University, has' arrived, in Sydney.' The new professor spent, his. young days,on his father's Jar^. v pear;:,.;M|jnarnock t .. Scotland, and. ■from:"tHe'roHrent ,, i : o V: 'the'"(jlasg"6w. Uni' versity, whero he secured his B.Sc. and M.A. degrees. Ho afterwards studied at- the ( /Rpthsniste I d|, ; R?!c.arch Station, and was subsequently appointed assist-ant-chemist to" the Transvaal Agricultural Department. Ho had been p'romoted..:t<i;?chief;' chemist before ho re-ce'iye-dytho 'appointment to the Sydney ■University".'' l'rofessor Watt is only'2B years.of.age. ' '. •

It certainly looks as if rabbits were decreasing! in Victoria. For the eight month's ■ July' to February, 1909, aver 20,000 crates of rabbits , were, sent to', the- Government cool'stores, Melßourno, for export, while during, the. sain'e eight months to/ 58<..'0f-' this year 0n1y.,6000V crates'; .havq, been received.: Also,! a ; canning ;iac.t<>ry,.'i'which- a very, big contract with the British authorities,' has been , obliged to forfeit it owing to failure of supplies. The- Victorian Rural Workers' Association j composed primarily of farm labourers, has recently been sending round, to the various, agricultural societies a circular embodying the- npw. scale of-, wages adopted by them.- .This represents V considerable increase for all kinds of farm labour, besides an eight hours day. The .log.-is' meeting, with strenuous opposition among -farmers generally, although the general body of employers do not seem to. be doing much to organise and combine to oppose the men's demands. GENERAL FARMING NEWS. . By the- Manuka to-day, Messrs. Hoult arid. Son, of Feilding, through Mr.-P. ! B. "Watts, aro shipping thirty&\'q draught horses- to Sydney, Another.lot'of twenty-one draughts.is being taken to-day by the Moana to Melbourne, on behalf of Air. M'Gaffin, of Hastings. The milk supply at Edendale, Southland, has gone down very rapidly, and it will take it all its time to be level with last year's supply, nor, will 'the. price be' lip to last year's prico-rls. per. lb. this year rules for butter-fat, as against 12} d. .'for last year. Twenty horses, mostly valuable Clydesdale stock, were consigned to Melbourne from tho Bluff on Monday, some of the breeders represented being J. Hi. M'Kenzie, of tho Popotunoa Stud Farm (near Clinton), R. ..Kennedy; of Drunimond, and W/Blakie, of Ryal Bush.

It is proposed that the newly-formed A. and P. Association at Stratford should take steps to have dairy cows tested. Mr. J.. Thomas, who. mado the suggestion at a .meeting on Saturday, expressed . the belief that if the proposal wore put into practice the output would bo increased by one-third in a very short time, and ho instanced the results that had been accomplished in other places by a carefully tastinz cows. Ho said New Zealand had the country, the climate, and the men lor dairying, bub science was needed.. Mr. J. Smith, while agreeing with Mr. Thomas, thought that the machine as v/ell as the cows needed attention. -Ho liud'.once.got,.n very high test, but fouml out that' it was tTio machine that was responsible 'for it. Mr. Thomas's idea is that the association sliould send out a competent' man, and that members who availed themselves of his services should pay a small-ifee.. . -%-.■■.•■ ■,■ -< : ■■■ ••. -

.Some good, returns of oats aro reported from the Brydone district, Southland. .Mr. E. Craig out of threo bags of. TJiiivorsal seed threshed 57 bags of oats, equal to 7G bushels to tho acre. From two bags of Yiolder ho threshed a return of 33 bags or 66 bushels to tho acre. This gives an averago yield of 71 bushels to the aero. The' seed was imported ■ by Mr. Alex Dickie, of Tuturau. Mr. Dennis Daley threshed 70 bush'ols to tho acre, as also did Mr. George Stuart; and Mr. Cooncy had u yield of about 60 bushels to tho acre.

A farmer, speaking at the annual meeting of the Tinia-ru A. and P. Association on Saturday, suggested that tho association,' might enlarge its sphere of usefulness by "bringing the officers of tho Agricultural Department to their hearings." Ho complained 'that the results of the turnip experiments conducted in South Canterbury last year had been ascertained in June last, but had only been given to the world last week—too late to be of ser-, vice, to farmers this year. •

The proposed second shipment of apples from Nelson' has been abandoned. Messrs."B.- Buxton and Co., Ltd., had promises of support to about 2500 cases for an April 'shipment of apples. This could easily have, reached 4000 to SOOO cases. The firm' approached the New Zealand Shipping-. Company and also tho Shaw- Savill, and Albion Company, biit could not secure space.as tlie noticewas too short. Tho proposal to make another, shipment therefore will .be abandoned. Had growers given a guarantee earlier in the season arrangements could have been made for steamer space. . . .......

■The fat cattle market in Southland, owing to a demand having sprung up for' freezing,'has taken an unexpected, sharp rise, and it,is anticipated that before winter, is over fat cattle will bo very scarce. The rise in the price of fat.lambs, which, lias also put up-the price of stores, will put thousands of pounds info, tho'pockets of the farmers, as very few, had been,sold'before tho rise took place;

. Butter to;the. value of over £1,500,000 has. been exported from Victoria to ports beyond the Commonwealth since July /1,, 1909. About 500 tons, estimated' to. be .worth nearly' £60,000, was sent away, last -.week. Tlie total exported since July is 13,349 tons.

An-Ashbufton man, who drew a sectioH.in a closer settlement sub-division ballot a fpw, years ago, has sold out his gpbdwill in the land at a handsome figure. ' Having .experienced first-class 'seasons the selector now- retires with (aproximately) £4000 to his credit —all made out of the , land,. of which he had little, if any, knowledge when ho entered into possession 1 .- ■

The'.sale'of Mr. James Gait's farm at Tutaurau—Boo acres at £1G an acre — -furnislies one of. tho biggest prices yet secured f6r an extensive-area of land in Southland (says the "Southland. Times' , )., Mr. Gait bought the farm at the.rate of'£7.ss..per. acre, and although ■ho has carried out many improvements in buildings, tilling, etc., and has altogether made the • holding practically a model farm, his investment' has given ;him a nice profit. -As previously stated, Mr. James Allen, of Dromore, is the buyer of Mr. Gait's ■farm. ■'■ ' • I . ■-.'-,..

A good deal of cocksfoot; is still held by Banks Peninsula growers, though each week sees some good' shipments. ■On.Saturday the Storm took upwards of 1000 sacks from Akaroa to Dunedin! The'prices for farmers for riddled seed "aro'3Jd. to 4Jd.. The recent rains have, been very beneficial to the pasture lands, though C3re is needed to, ensure, plenty of feed for tho'winter. Dairy factories report 'that the milk supply is well maintained for the- season of tho year. Tho manager of the Barry's: Bay. factory expects that' the total output for the season will reach 160 tons, an increase of -fully 25, per cent, on the output for ..lasti season. All ;other,- factories expect to show a good increase.

-The threshing machines'in the A'shV burtpn County have secured an average tally of 40,000 bushels, and it is expected that the averago will be from .■50,000 to 55,000.bushels .before the.endof the. 1 ! seaeon.. This will mean.... an average shortage, as compared with last year, of . between 20,000 and 25,000 bushels for each machine. There &ie forty-five machines in tho county, so that tlie approximate shortage over the whole district.is'.9 : oo,ooo .bushels.... ':' |Mr/ , J'!"PoYlard7'pf son,; has purchased. from Mr. Greenwood, of Canterbury, a small consignment of pure-bred Corriodale ewes and rams.

The Ashburton "Guardian" says that probably ono of the best average yields of wheat obtained this season in the Wakanui district has been secured by Mr. George Wilson, who has had a return of 39 J bushels of Tuscan from, about 70. acres. Mr. Thomas Wilson, of the same sub-district, has had a yield of 29 bushels of pearl.

A farmer in the Mitcham-Dromore district (Canterbury) has threshed a crop /of "Wheat which , yielded only 8 bushels per/acre.

It is stated that the diamond-back moth is doing a good deal of damage to. turnip crops in tho upper districts of tho Ashburton County..

A disease troubling sheep in some parts of the Stratford district has been investigated by , Major Young, M.R.C.V.S., Government Veterinarian. Accompanied, by Mr. J. M. Hignett, Inspector of Stock, a visit was made to some 'flocks affected, and after oxaniiilation the' sheep were found to- be suffering from facial eczema. This disease is-stated; to be common enough; ths ears droop and the head swells to an. abnormal size,' and the' complaint assumes a more virulent form in some, years' than others. Little or no mortality occurs in connection with' ■ it. Major Young recomjnends an entire change of pasture. Treatment consists of smearing the face and cars and the inside of tho nostrils, if the. weather'promises to be fine for a few days, with sulphur,or boracic acid ointment, the sheep' generally ' making a very rapid recovery.-

COMMERCIAL ITEMS. ' INVESTMENT 'SHARES. Sales of Wellington Investment at 11s., and Westjort Coal-at £6 ss. were ' recorded yesterday. National Bank, buyers £li is. ml; FeiJclins Gas, buyers £1 Is. 6d.; Wellington Gas, £R 15s. paid, sellers £\3 12s. (id.; Gear Jleat, ,S1 paid, buyers £2 135.; Wellingtou Meat Export, £2 12s. 6d. paid, sellers £2 lGs.; New Zealand Shipping, buyers £7 17s. Gd.; Union Steam, buyers £1 11s. [Wellington Woollen, buyers '£3 25.; Westpc-rt Coal, buyers £6 is., sellers X' 6 6.i.; Westport-Stockton, sellers 7s. 9d.; Lcyland-o'Brien Timber, buyers .£1 is. Gd.; Sharland's preference, buyers .£1 25.; Taranaki Petroleum, buyers Bs., sellers 9s. fid.; Ward and Co., brewery shares, sellers .£5.

DTJNLOP RUBBER COMPANY. The directors of tlio Dunlop Rubber Company of Australasia, Ltd., lxave decided to recommend payment of the following interim' dividends for the halfyear ending-January 31; 1010, as follow:— At the rate of 12| per cent, per annum on the cumulative preference shares; at the rate of 13 i«v csnt. per annum cji the non-cumulative preference shares; and at,the rate of 9 per cent, per annum o)i the ordinary shares. The dividend declared' in September last year wns at the rate of 10 ]>cr cent, on the cumulative preference shares, at the rate of W\ per cent, on the fu)ly-])aid noncumuUitive preference shares, and r.t tho rate of 9 per cent, on the ordinary shares, together'with a bonus of Gd. on boUi classes of -preference shares, .■. • • .■ .

IMPORT MARKETS. . Trade continues fair , with the country districts, but iu city and suburbs there is no break in the dullness. The bank balance is suggested by some as a reason for the present quietness, but this canjjot. be accepted seriously, as trade has been dull for. many months. There are few changes to record. Staple lines are selling at the usual prices. The oalraon stock is .reported to be nearing •.xhanstion, and prices have advanced tObout 3s. per case. Private cable adHoes indicate a rise of £i per ton in cream of tartar. There is apparently a shortage due to floods having been experienoed in the producing districts early in the season. At the last 6ale in the Colombo tea market;, values Temained firm with a. hardening tendency for. medium broken pekoe. Olive Oil.—A recent report issued by H.II. Consul at Nnples respecting the olive oil yield, stated that it was likely ■to be a, moderate one, and there would be little surplus for export. As regarded Crete, a message- from Canea stated that the olive oil crop was so far of average quantity and good quality. If all went well, there would be a considerable surplus. Reports had also been received from ■ Algeria and Tunis. The Consul-GencraL at Algiers stated that he was informed by the Chamber;of Commerce that, owing, to the sirocco, : the olive crop of Algeria, which had. proraised very well, was under the average. There, was no prospect at present, of a surplus for exportation. The ConsulGeneral at, Tunis reported that the "olive crop ■• throughout the Regency of Tunis was to be abundant. The oiive oil mills had begun working, and the quality of the oil was said to be very good. A great.quantity was expected to be available for export. Customs revenue collected at 'Wellington yesterday amounted to '.£I3OO Bs. Bd. WELLINGTON. MARKET REPORT.' ' Messrs. Laery and Co., Ltd., Wellington, report wholesale prices ruling on the markets-Wheat, fowl is. Id. to is. 3d.; feed oats, 2s. sd. to 2s. 7(1.; Dun oats, 2s. lid. to' 2s. 7d.'; seed oats, 2s. Gd. to 2s. Bd.j Algerian oats, 2s. • sd. to-2s. 9d.; maize, 3s. Ud. to. 4s. Id.; crushed nialt, 75.; fowl barley, 2s. M.; Cape barley seed, 2s. 9d.; flour, New Zealand, £10 ,15s. to £11 55.; peas, Prussian blue ss. 6d., split £17 10s;; bonedust, £5 155.; superphosphates, £5 to .£5 55.; pollard, , .£5, ss. :to .£S;IDs.; bran, £i to £i 10s.; pearl barley, 155.; basic slag, M ■ 10s.; 'oatinc-il, ill to £11 10s.; potatoes, table .£3' to M ton; onions, 35.: Gd.' to 4s. 6(1. cwi; mo- , lasses fodder, £a •;■ bacon '• (factory), sides 63d:, hams:Bd., rolls 7M.; butter, -prime bulk, od. Poultry—Hens, 35.; ducks, 3s. 6d. to is. 6d. per pair; turkeys,.gobblers, 18s. to 205,,' hens 10s. to 145.; fresh eggs, , . Is. id. to Is.' 5d.; preserved eggs, Is. 2d. dozen; cheese. s£d. per lb., loaf 6Jd.; Akaroa mach.Tie-dressed cocksfoot, 6d. to 7d.'per lb.;''farmers' dressed cocksfoot, id. to sd. per lb.; ryegrass, ■ 3s.' 6d; to is. 6d. per bushel; Italian ryegrass/: 3s; 6d. to is. '6'd.;per bushel; white clover, 70s.' to 755. per cwt."" BANK SHARES AND DEBENTURES. By TelcEraph— Press Association—CoprrlehL London,' Mnrch 22. The following are the latest quotations: Buyers. Sellers. Bank.' '' : ' ' ''£ s. d; '£-s.' d.'' Australasia .107 0 0 109 0 0 New South' Wales.-... 45- 0 0 46 0 0» gnipn 03 10 0 64 10 0 National' 5 76 517 G* *Ex rights. ' . ' ' Bank of New Zealand guaranteed debentures, £W2; City of Melbourne debentures, JEIO2. , ■ ' ... . '.•■.,.. .'.silver. . ; . . -.. Silver is quoted at 2id. per ounce Etandard. '. -. > ' ; ' ■ VICTORIAN WHEAT 'YIELD'. :, '. .■ .. Melbourne,-March 23. The. Victorian wheat yield is 27,180,000 bushels, the highest aggregate harvested, in ,the State.' ' ■'■'. ,'■ . ■ '■ LONDON WOOL'SALES.;; CROSSBREDS HARDENING.. By Telcgraph-Pross Association-OopyriEht . ' ■ , London, March 22. ■ At the wool sales, prices for. merinos remained unchanged. Crossbredsi-aro.' a little, harder. By Telcsraph—Press Association—CoDjrrleht ,-' t (Rec; March 23, 10,30 p.m.): < . , : ■ ,' .!.- .• London, , Mavchi:'23/' Wool.-Pahana, top price, lljd:;'average, IOJd. Tawapata, IOSd. and 92d. METALS. By Telegraph—Press Asßociation-Copyrißht '~■;> ;,!;■,(Rep.'.;March 23i.10.30.;;p.m.) • London, March 23. Copper.—Spot, .£SB 13s. 9d.; three months'. .£59 155.; electrolytic, .£6l 15s. ' Tin.—Forward delivery, .£147. Lead, .£l3. RUBBER, By Telegraph-Press Association-CoDyrieht. (Rec. March 23, 10.30 p.m.) London, March 23. Rubber.—Best sold at » iction at Us. AUSTRALIAN MARKETS. By TeleEreph-PresG Associa-tion-OoDyrieht. , (Rec.rMarch 23, 11.50. p.m.) • ;■'."'■.■ Sydnoy, March' 23. To-day's - quotations are as follow :— ".Wheat, is. .Id. per bushel;. flour,' iCIO 15s. per ton; oats, Algerian feeding, 2s.' 2d. per bushel; seeding, 2s. id. to 2s. sd; per bushel; Tasmanian, 25... lid. per. bushel; barley; Cape. feeding, 3s. ' per bushel; seeding, 3s. 2d.per bushel; maize, 3s. Id. to 3s. 2d. per bushel; bran arid , pollard, £i 10s. ■ per ton; potatoes, Tasmanian, £i 15s. per ton; onions, £3 10s. per ton; butter, 1013. per cwt.; cheese, sd. to SH. per lb.; bacon, BJd. per lb.

Melbourne, March 23. Hides, light and medium weights, id. to Jd. lower,; other . sorts unchanged; wheat,, nominally 'Is. ';*. per _bushel; flour, £10 per ton; oats, 'Is. 10a. to 2s. 2d. per bushel; barley, prime malting, •is. 4d. per. bushei ; maize, 2s. 9d. per ■.■-\ r !. h- nn ? ni \ pollard. £i 15s. p'e'r ton; potatoes, ,£3'los. t'o'M 10s: per ton; onions, £2 10s. to £3 per. ton.

Adelaide, March 23. Wheat, 4s. "Id. to 4s. 2d. per bushel; flour, £3 15s. to £d per ton; bran, lljd;; pollard, 12id.

HIGH COMMISSIONER'S REPORT.

The Minister for Industries and Commerce has received the following report, dated February 4, by. the Produce Commissioner, London, on the first series of colonial wool sales, which were held from January 18 to February i last: — Throughout the sales there has been keeii competition for all lots : offered. Buyers from America, and from the Continent have, bid against Home manufacturers for all lots in any'way suitable for their requirements. The latter have good orders on hand, anu as the stocks of wool held by them are in short compass, having been steadily drawn upon in the course of manufacture, prices all through the sale have been firmly maintained.. There is r.o accumulation of stock, nor is there likely to be any, especially as, owing to the dry season experienced there, a shortage is expected in the shipment of wool from River Plate this season. The position of wool is distinctly favourable. The classes for which there has been the greatest competition during the present sales are heavy, medium, and coarse crossbreds, especially the last-

named. This is caused by Continental buyers requiring these chiefly, and, therefore, entering nioro keenly. into competition, with British manufacturers for them than for other classes. The American buyers prefer bidding for the lighter wools. Ono noticeable feature of tho present sales is the great improvement found in tho quality nnd get-up of the wools from South Africa. It is evident that tho attention that is now being given there to the improvement of the nocks by judicious breeding, with a view to entering into the frozen meat trade, is beginning to tell. Care is apparently also now being given to wool-classing. So that it would seem as if in a tew years New Zealand may havo to reckon upon now and increased competition from the South African colonies. There have been a considerable number of. South African clips offered during tlio present series of wool sales that have shown this marked improvement iu quality and get-up, and buyers have been commenting favourably upon them. DUNEDIN GRAIN MARKET. IBr TelcsraDb.—f'ress Association.! Dunedin, March 23. Dunedin grain market: In the wheat market business is very limited, and there is little or no change in quotations for Tuscan or. red wheat. Velvet, however, is moro readily, placed,.,at a slight improvement in, price, Fowlwheat is in fair demand, but,; owing. to. large snpplies, late rates aro not maintained. Prime milling Tuscan, 3s. 9d. to ,Is. 10d.; pearl velvet, 3s. lid. to 3s. 11-jcl.; best whole fowl wheat, 3s. 7d. to 3s. Bd.' Oats: The market is still bare of supplies, nearly all coming to hand being taken up for local consumption. A moderate demand for shipping exists, but the prices expected by growers are so much above buyers' limits that no business of any consequence is effected. Prime milling. Is. 9Jd. to Is. 10d.; good to best feed, Is. 9d. to Is. 9]A.; inferior to medium, Is. id. to Is. Bd. .- ~T~~. -\ ■ ' MINING NEWS. WELLINGTON SHARE MARKET. There were comparatively few sales yesterday, the marke-t being influenced by the pending holidays. Old Hauraki shares were firmer, but there is nothing in the way of mine development to account for this. The "bears ' have'practically? covered their commitments. Talismans were firmer, : Srid so were Waihis. Tha sales recorded were as under:— .. New Sylvia, is. "BJd. (second call). Waihi, £9 Bs. 9d." (second call). Consolidated' Goldfields, £1 Is. 3d. (first call). ■•..' . , - ' ' .' QUOTATIONS. - Buyers. Sellers. Sales. ,£s. d. £ s. d. £s. d. Xlixon Conso.li-' dated 0 0 3 — — Kuranui Caledonian ' 0 11 0 1 6 — May Queen ■... 0 i-S 0 4 4 — Maoriland-■■■-.-;. 0 0 5 0 0-6. — New Sylvia .... • u 47 019 0 4 SI Old "Hauraki 0 3 9 0 4 0 — Saxon 0 17 '— ■ — Tain'ia Broken ■Hills 0 1-2 - - Talisman .... 2 11 0 2 11 0 - Waihi ...;....: '- 9 9 3 9 8 9 .Waihi Grand Junction ... 1 12 0 —. . — Waitangi '■ .... 0 1 11 0 2 1 ■■'-■' Black water- ... 19 0 — . — Con. Goldfields - 1. 1 3 1-2 3 1 1 3 Progress >~;... - 0 14 9 .- Ross. Goldfields 0 7 9.083 — STOCK EXCHANGE. (By Telosraph.—Presa Association.) Auckland, March 23. The following business was done on the Stock Exchange this morning-.— Monowai, -2s. - : ' . ■■ " .' '. Sylvia, is. 9d. •' ' ' : • .'■ ■• ' ■■•■•■ Consolidated 1 Goldfiolds, 225.' ■■■ ; " : Watchman, Is. -7d.- - '■■■■.■-■ Hauraki; 3s. lid., is. 1d..-. Crown, ss.- . . • v Tairua' Broken Hills, Is. 3d. AVaihi, £$ 10s. Gd., £9 11s. Grand Junction, 335. Tho following-business was done at the afternoon' call ' . ' ' Occidental (con.), 3Jd. ~' n ;j,,'.'. ;.' Victoria'r , l!3. :! -sd:' c: '' .'"" ! "'"*" ' : ''" >: ' ''■ - Waitangi' Consolidated, 2s;' Old Hauraki, Is., 3s. lfld/ " Tairua'Broken .'Hills, Is. 3d. '■ Tairua' Monarch, 2Jd.. , ; .■ •'-

Tairua Reeefs (cou.), 2!d. Tairua Reefs (con.), 2W. Talisman Consolidated, 51s. 9d. Waihi, 1915., 190s. Gd. , Waihi Grand Junction, 335. 3d., 335. Gd. Waihi Grand Juuctiou (options), 3s. New Sylvia, is. 3d. Saxon, Is. Bd., Is. 9d. Point Russell, 3!d. N.Z. Insurance, 775. ■ Soutli British Insurance, 58s. Westport Coal, 1265. Gd. Dunadln, Jlarck 23. Stock Exchange sales:— Old Hauraki, 3s. 9d. and 3s. 9d. Reported sales:— Waihi, £9 10s. Natiouiil Insurance, Bs. 7Jd. MINE MANAGERS , REPORTS. May Queen.—The south drive on the. Queen of Beauty reef at No. 9 level has been timbered to the break. The drive, from this [Mint on to where the block ofreef is opened .up for stoping, has not been much affected by the flooding out.' It is expected that work in the 6topes will be resumed in the course of a few days., In the northern crosscut No 4 lode is producing crushing dirt. This shows good dabs of gold, and occasionally yields a little picked stone. The work of getting the stopes in order on the eastern side of the winze towards tho north-west lode is being pushed on, and is now nearly completed. Stoping is being carried on both on the footwall and hangingwall branches of No. 4 lode above the intermediate level. Tho quartz being won still shows' gold, and at times yields a little picked stone. Crushing is proceeding at the battery, and cleaning up and retorting will take place soma time next week. Moewai.—The reef has been cut into at the low level in several places, and samples were taken. Prospecting is also being done in the gully on the southern boundary. Old Alburnia.—The rise is up 64ft. The reef, is 2ft. in thickness, and the mineral indications are improving. In the drive east, Dixon reef is SOin. wide, and assays 9s. per ton. Monowai.—The intermediate level has been extended 17ft. The rise-should'be cut this week. The intermediate level has been extended 197 ft. since the contractors started. Mount Welcome.—The low level is in soft country. The reef is encased with a puggy formation. A block of ground 80ft. iu length, with 120 ft. of backs, is open for stopiug, and should prove remunerative. During the week 301b. of picked stone were got. Pride of Tokatea.-No. 1 block on the crosslode cast lias been stoped through to the floor of the Smithy level. Nothing of any value has been met with in this direction during the week, but as there is still an extensive block intact over tho back of the level a riso' has Veen started to test it. So far nice-looking quartz is being exposed. No. 2 block on the crosslode will bo started shortly from the low level. Some prospecting work is being done on a new lode in the Smithy- level. Tairua Gem—No. 1 level is in 182 ft. The country penetrated is all that could be desired, and water is making freely from the face. Tairua Golden' Hills.—The low level crosscut is along 900 ft. The country continues to be of a most favourable character. The stoping contractors will be some little time.before they commence operations, as ,a certain amount of the accumulated quartz must first be clearV ed. This is being done as speedily as circumstances will permit, no other work being carried out in the mine at" present. Kapanga.—The water is down to '82ft. below the N0..3 level. : Kuranui.—Blyth's, level south is in good country. The leader .averages 3in./ and fine gold was '6een last breakingdown. Thirty heads are being cut at intervals, and occasionally bunches of decomposed'mineral aro met with! A second stopo has been started on.th.e shaft' leader. The footwall looks most . pru- : mising. ' • . Golden Pah.—M'Donald's leader showed, strong blotches of gold. Another nice looking leader has been cut, about 4in. w.ide, and well mineralised. The northeast drive towards the Hauraki boundary is. in good-country for'gold. ■ - :■: LIVE STOCK SALES. .Reports of live stock sales will be found on' page 9 of this issue. :