LIVE STOCK SALES.

Dominion, Volume 4, Issue 1145, 5 June 1911, Page 8

LIVE STOCK SALES.

Messrs. Dalgei.y and Co., Ltd. (Dannovirko branch) report the following sales during the weeks-Monday, May 29, at Woodvillo sa'.es-Thls was the most successful sale held at these yards for somo time. We offered a good yarding to a, large number of buyers, and practically all offerings were disposed of under the hammer. Fat cows, six at £5 Is.; five at £5 Sj.; three store cows, £2 55.; cow 3 in calf, £3 25., £5 Is., and £6 10s.; heifers in calf, £4 55.; empty heifers, £2 10s.; 18months' steers. £3 13?.; two and a hallyear steers. £3 16s. Sheep: Mixed hoggets, 120 at 6«. 9d.: 73 at 6s. lid..; 78 two-tooth wethers. 10s. 6d.; 22 fat ewes, 10s. lid. On Wednesday, Mr. J. Rcichenback's clearing sale took placo at Ifopelands. We sold 29 dairy cows, averaging £6 £s. 3d.; heifers, 18-months, £3 Us.; weaner heifers, £2 165.; ewes in lamb. lis. lid. and ss. 7d.; hoggets, Bs. Ed..; fat ewes, Us. 4d.; Romney rams. £3 6?.: fat bullocks. £9; pigs, horses, and sundries, at satisfactory prices. On Friday at our Takapau sale we offered a fair vnrdinff to a smMl attendance of buvws. Prices were well un to recent selling rates, and we effected pales at the following figures:—Mixed weancrs, £2 65.: 18months cattle, £3 Bs.: two and a half to throe-year steers, £4 155.; fat ewes, lis. 3d.

COMMERCIAL ITEMS. SHARE MARKET. The Wellington Stock Exchange was closet! on Saturday, consequently there arc no share quotations to publish to-day. THE MONEV MARKET. The London money market continues to improve, that is to say, the tendency is towards easiness. The proportion of the Bank of England reserve to liabilities is now practically 52 .per cent., and high enough to 'warrant a reduction in the bank rate. Perhaps the reduction will be 'announced this week. The market rate for-three months' bills is easier, and the rate for short loans is also lower than in the previous week. A feature of the markets has been that, for the past two weeks,'there has been no movement in the quotations for colonial- stocks. This is quite unusual. COST OF LIVING. A Buff-book recently issued by the British Board of Trade gives some interesting figures as to the cost of living, of the wages paid, and of the rents demanded for the averago man in the United Kingdom and the United States. The in- ' vestigations in the United States covered 28 towns in various parts of America, and the results bring out many interesting conclusions. On the whole, the working man in America appears to live under even better conditions than in the United Kingdom. Rents are higher, and food prices are higher—the inquiry docs not deal with such items as clothing, fuel, light, travelling, etc.—but he gets higher wages than in the United Kingdom, and works fewer hours. The reasons for this, however, appear to be entirely due to physical characteristics nf the country. As the renort states, in addition to the great size of the country and the varieties in its climatic and geographical conditions, there are other salient features to which it is necessary to direct attention, such as the. exceptional, range of its natural resources, as illustrated by the vast and varied scope of it 3 agricultural and grazing interests, and the extent of its mineral wealth. Few, if any, countries are, indeed, economically more self-con-tained than is the United States, for. with the exception of coffee and tea. almost !very primary commodity in wide conaiuiption is produced within its own jorders—cotton, maize, rice, sugar, and obaeco. for instance, not less than nineral ores, coal, timber, wheat, and jcef. Its nositinn as a food-exporting lountry is, it is true, changing, and the migration of a considerable farming clenent into Canada in recent years may be ;ignificant of the approaching exhaustion )f its supplies of virgin arable land of rreat fertility. But. with a population of lbout 92 millions, the country is still rebi;ively ill an early stago of development, i ml is one of extraordinary natural .vcalth. still possessing, in spite of the increasing concentration of capital, an excc-nt.ional range of opportunities for iulivklnal advancement. An interesting comparison of the relative rages, hours, and prices in the United Kingdom and the United States is afforded by the use of index numbers, taking ;he nverace all round in England as ICO. 3/1 this basis the proportion is as foro'.vs:— United States. England. Weekly wages 220 ICO Hours of labour 9S ICO Rent 207 100 Retail food prices 138 ICO Among the peculiarities shown by the investigation is the relatively small consumption of baker's bread in the average American workiiiir-class family. The r.'nount is only BMb. weekly, as against 221b. in the United Kingdom. Us place is taken in the United States by rolls, cakes, and biscuits, which cost about three times as much. On the other hand, there is a much larger consumption of meat and vegetables. Tile "budgets" of differ™* typical families given in the report indicate that the dietary of America.!! working-cla-s families is more liberal and mori varied than that of corresponding families in the United Kingdom. It will be seen from the figures given above that whi'o the food of the average English family would cost 38 per cent, more in the United States, and rent would lie more than twice as high, the hours of labour are somewhat lower, and the earnings are rather more than 2i times as great as in England and Wales. The report points out that, since there is no proof that uuo"inloymeut is more intermittent in the United States than in the United Kingdom, a much greater margin Is available, even when allowance has been mar'e for the increased expenditure on food and rent. NOTES. A voluminous report upon the trade of the Dominion of Canada, covering the period from July, 19Cfi. to Mnrr.li Jt, 1910, has just been issued by the British Commissioner, Mr. Richard Origg.. and it 's interostinir to note the stress which is laid bv this official observer unon the keenness nf Ihr struggle between the American and Rritisii producers for I.lm Canadian market. As Mr. C.rigg points out, the TJnii-d States enjoys the initial advantages of its geographical position, clo?e social interi course, and mutual acquaintance between

large sections-oE the. people. The tinned Kingdom, on the other liami, lins on its side the very considerable benefit of preferential Customs ditties and the long standing and historic connection between the Mother Country and the colony. There factors nt present very nearly balance each other, but, reading between the lines, it. is plain that in the commissioner's opinion victory in the end will incline toward the United States unless the ties between the British manufacturer and Canadian consumer can be drawn closer. The reciprocity negotiations with the Onited States, if successful, would, of course, be a big counterpoise to the preferential Customs duties, and may, in fact, well prove tho deciding clement in the fight. The heavy rains which were experienced all over Australia- towards the latter end of last year, and at the beginning of the present year, while being of inestimable vulue as far as pastoral pursuits .are concerned, have wrought havoc, with the salt industry of South Australia. The salt is scraped nit the surface of the dry lakes in the vicinity of Kdithbure. York Peninsula, but. on account or the exceedingly heavy rain experienced this work was rendered exceedingly difficult, the people taking in the "harvest" gathering large duantities of mud as well. Thus it. is that the Australian s.alt "crop" for this year is practically a- failure, and until refined is practically useless, even for sheep. Conseriuenily table Fait will he scarce for some time to come, and merchants, anticipating this shortness, are importing from England. According to the renort of the finance committee of the London County Council, the aggregate net debt of London secured on the rates on Mnrdi 3t, 1910. was .■Et11.C43.C83. against £110,621,565 at the end of the preceding year, nn increase of .WJ.523. The net debt was enuivalent. to 253.61 per cent, of t''o rateable value of London, as against 254.28 at the end of the preceding financial year. The net debt of ihe revenue-nrodiicing undertakings was £57,362,049. Of this total. f39.678.2-J3 was for water supnly; .-e8P.99.C99 for trnitiwavs: £5/68.409 for electric lighting: JE3.MI.PS9 for working-class dwellings; and £26,649 for miscellaneous. CUSTOMS. The Customs revenue collected nt the port of Wellington last wool; totalled £16,400 4s. 7d., as against £12.577 16.;. lCd. for the corresponding week of last year. The return.-; for the past eieht. weeks compared with the corresponding periods of last year show as under-.— 1911. 1910. f, £ April 15 10.E90 10.325 April 22 16 745 15.296 April 29 12.111 10,304 May 6 19 765 19.796 May 13 8.057 6.9-'8 May 20 14.954 15,319 May 27 15.011 1.1.6C1 June 3 16.4C0 12,578 113.963 102,167 The beer dutyifor the past week amounted to £239 Os. 6d., as against £196 7s. for the corresponding week of last year.

- FROZEN MEAT. ISy Tclegraob—Press Association—Copyright (Eec. June 4, 5.5 p.m.) London, Juno 3. The Frozen Meat Trade Association's jjmitUficld market Quotations for the undermentioned classes of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or larab, or twenty-five quarters of beef of fair average quality. The quotations arc not for selected lines, but for parcels fairly representative of the hulk of tho shipments now on the market. The prices which follow aro on an average a farthing per lb. more than the valuo ex ship, this difference representing an averago cost in expenses, handling, conveyance, and selling tho meat:— May 27. June 3. Mutton- d. d. | Canterbury, light 315-16 11 Canterbury, medium ... 313-16 33 Canterbury, heavy 3 l 31 Southland — — North Inland, best 33 31 North Island, ordinary... 31 31 Australian, light 3J 33' Australian, heavy 3 3.1 Diver Plate, light 3.1 3.1 River Plate, heavy , 3 '3} New Zealand ewes 3 ?i Australian ewes 3 31.. River Plate ewes 2J 3,1 Lamb :— Canterbury, light 4'l ' Canterbury, medium 43 43 Canterbury, heavy 41 41 Southland 4* 4 9-16 . North Island, sole-ted ... 41 4 9-16 North Island, ordinary... P, 4 7-16 Australian, bet 4 41 Australian, fair 3' 4 Australian, inferior 33 4 River Plate, first 41 «,•> River Plate, second 33 4,', Beef:— New Zealand, ox fores .. 23 !>1 New Zealand, ox hinds... 33 32 Australian, ox fores 21 27-16 Australian, ox hinds ... 3* 3 7-'< River Plate, ox fores ... 25 2 9-16 River Plate, ox hinds ... 3 r : 3 9-16 River Plate, chilled fores 7.1 21 River P,late. chilled hinds 35 35 THE METAL MARKETS. By Telcffraph--Pres3 Association—Copyrisht. London, Juno 2. Bar silver is quoted at 24=icl. per ounce. Copper supnlies total 41.204 tons, and deliveries 46,659; stocks, 72.613; afloat, 6775. Tin.—Stock. 16,336; on the spot, 5621; afloat, 4437; deliveries, 2218. WOOL ' HIDE, AND TALLOW SALE. Messrs. Dalgety and Co. (Danncvirkc branch) report:—At a skin and hide sale on Tuesday we offered equal to 15 bales of wool, 900 skins, and 100 hides and calfskins, etc., when prices realised, were as follow:—Lambs' wool, sid. to 61d.; crossbred, 6d. to 7d.: mixed. sd. to 61d.: crutehings, 45d. to 52d.; pieces. 4d. to 51d.; dead, up to 63d.; black, 53d.; hock's, 53d. Skins: Crossbred. 4d. to 6.', d.: lambs, to 6.1 d.; dead. 33d. to 5d.; black, '.id.; crossbred dead, up to 53d.; pelts, salted, up to 3s. lid. each. Hides: Ox, s?d. to SM-; cows, sd. to 5 6-Ed.; dead and slippy. 2U- to 4d.; yearlings, s)d. to 5?d.: ox, green, to 52c1.; cow. grpcn, 5!d.; calfskins. 4>d. to 7»d.: calf, rut. 43d.; slippy, 21d. Tallow. £20 15s. to £22. 'MINING NEWS. WELLINGTON SHARE MARKET. The course of sales of mining shares during the past week was as under:— Brcmner's Freehold. 3d. New Sylvia, 2s. lid., 2s. IC<l., 2s. lCd., 2s. 10(1. Saxon, Is. lCd. Tairua. Mines, Is. 7(1.. Is. 7Jd. Talisman, 50s. 64., Ms. 6d...505. H. ; Waihi, 635. 9d., 635. 6d., 635. 6d„ 635. 6d., 635. 6d.. 635. Waihi Extended, Is. 7d. Waihi Pacroa, lis. Waitangi. 2s. 2d. Ross, Is. 9d. DREDGING. (By Telegraph—Press Association.) □ uncriin, June 4. Dredging returns: Electric Ko. 1, 40oz. 4 dwt.: Koputai. 320z.; Masterion, 220z. Bdtrt.; Waikaia. 18oz. 8:lwt.; Mystery Flat, lloz. lldwt.; Karaunui, 360z.; Electric No. 2, 30 oz. 4dwt.; Manulu'rikia, 2Coz.; Dredge 909, 160z.; Central" Charlton, 140z.; Worksop. 73 oz 15d\vl.; Trafalgar, 15ns. 7dwt.; Ri. : c. and Shine No- 1. 350z. 2.1.wt.; Waikaka United No. 1, 20oz. 4dwt.; Waikaka. United No. 2, lloz.