AUCTION SALES

Dominion, Volume 11, Issue 305, 13 September 1918, Page 8

AUCTION SALES

FORTHCOMING FISTT7EES. : .TO-DAY; ' I, ' 42 Nairn Street, Wellington, 10.30 a.m.Furniture eale (A. L. Wilson and Co.). Chamber of' Commerce, Wellington, 2.30 p.m.—Sale of freehold property: Imperial Hotel and shops (S. G. Nathan .and Co,). ■ Cambridge.—Horse Fair: 4th day (Farmers' Co-operative ■ Auctioneering Co.). ' '' ■ ■ , ' . TO-MOEHOW. \ Oxford Street, Levin, 1.50 p.m.—Sale of farm property (Parker and Vincent). MONDAY. . Arapaepae Koad, iovin, 12 noon.—Stock and implements. ,

BREEDERS'FEDERATION RECOMMENDED

By Telecraph.—Press Association ■ Palmerston N.,' September 12. A mooting of delegates to the Breeders' Association, to-day resolved to recumiuend tho formation of a Breeders' Federation, in the interrsts of. breeds, and to establish stud sales in connection with local shows. ; / '.

'SPE"" ■ ■• DAIRYING PROSPECTS IN THE NORTH '

The dairying season this year has been rather later iri starting than usual, owing , to the cold weather (says the "New Zealand Herald"), but tho Government grader states that butter and cheese 'in considerable quantities are now being received' at' the grading stores, and a good season is anticipated. At present much of the supply b coming'from the north and the Lower Waiknto, but next month should see a,large increase-in the.output from the Southern Waikato and King Country. Reports from country districts indicate that, notwithstanding the hard winter, the majority of the .dairy herds are in good condition, to commence the season, and with normal conditions prevailing in the summer, hopes are entertained that last -season's .output in both butter and cheese will be exceeded. .. ■

ARGENTINE'S GRAIN SUPPLIES

Notwith'standing the agreement with Great Britain for the supply of Argentine grain, principally wheat, up to a maximum quantity of 2,500,000 tons, to be shipped prior to November 1 next, the Republic will have an immense exportable surplus of cereals of which to dispose, the total of wheat, linseed and cats available for shipment being estimated stapproximately 4,910,000 tons. Down to April 30 last there had been exported 706,000 tons of wheat, 143,576 tons of linseed, and 44.468 tons of oats, or an aggregate of 894,044 tons, leaving 4,015,956 tons to bo shifted. In addition the maize harvest of 1917-18 has yielded an embarrassing abundance, the outturn being estimated at 4,335,000 tons,- of whicV nearly 2.ooo,ooo'tons is regarded as.the exportable surplus. It is obvious that a considerable proportion of last 'season's' harvest will not be got away before the next season's crops are ready for garnering. ■

LIVE STOCK SALES

The Wairarapa Farmers' Co-oporative Association, Ltd., report having hold their sale at Mastcrton yards ou\ V. rednesday when they offered a big yarding of sheep and a medium one of cattle to a , large attendance.. Bidding iva's brisk and everything, was disposed of under the hammer'with'the, exception , , of a small pen of hoggets. Tho ' following prices were realised:—Good m.s. hoggeto, 255. 3d. to 25a. 5d.; medium do., ■245. to 255. 3d.; ewe hoggets, 255. id. to. 255. 4d.; wether hoggets, 25s lCd. to 265. 4d.; springing cows, £12 17a. 6d.: store cows. £7 10s.; yearling •P.A. hull, £9. On account of the Mauricevtlle Parmere' Lime Co., draught geldings, £21 10s. to £25 10s.; tip-drays, £3 10s. to £7 10s. Messrs. Dalgcty and Co.. Ltd.. Palmerston North, report having held their fortnightly saie at Taihape on Wednesday, when a small ynrdlug of both' sheep and cattle came forward. Quotations:—Wether ' hogget-ii. from 16s. to 255. Sd.; mixed hoggets. 19s. Cattle: Empty cove, £7 7s. 6d. to £7 95.; dairy cows, £10, £12 15a., £14, to £15. • The New Zealand Loan find Mercantile Agency Co.,' Ltd.. rnnort:— At nur Himatangi sale on Monday we had a. small yarding; stock sold freely at late rates. Quotations:—Four-tooth wethers. 34n. Id.; fat ewes and wethers, £2: cull ewos in lamb. £i 3 65.; spring. heifrrs, small, £6 2.=. 6(1.. £6 Ss.; spring heifers, fair, £11 12s. 6d.

COMMERCIAL ITEMS

JKVRiTJIENT SHARES. Yesterday's quotations {or investment shares were as' follow:— Buycr3. Sellers, i s. u. i> s. d. Commercial Bank (pref.) 6 2 0 — lv&uonai "iiiK — 6 7 6 'Bank .01(1) 13 2 0 - Equit ..r.ilding 9 0 0 - Jicti. ...i Building .. 11 (I 0, - ;<iii .'lortgage 4 'I 6 — K.Z. unci Hirer" Plato ...... 118 6 • - Well. Invaetracjii'. 010 6 ■ - National Insurance 3 2 6 — K.U. insurance 6 7 0 — jiLi.'iit amort (Ms. 6d.) ... 2 7 6 — Huddart-Parker (or;!.) ... 2 4 6 2 6 0 Hudditrt-Parkor (pref.) ... 1 0 9 113 Union Steam (pref.) 1 0 11 1 1 3 P. and O. Def. titock J3O 0 0 410 0 0 liaiapoi Woollen (ord.) ... 7 7 0 - . Well. Woollen (prof.) ... 4 11.0 -*■ \ Wcstuort Cne.l .". 1 10 3 - Waipn, Colliery 0 15 9 0 16 3 Kauri Timber (J3s.) — 1 11 0 Ijpyland-O'Brien, 17 0 ~ Crown Browcry 19 0 110 0 Golden Bay Cement ...... — 10 6 'Manning ami Co — 3 10 N.Z. Con. Deatal 1 <l 6 ■ ' - . N.Z. Drug 214 0 .. . - . Ward aud Co. 410 0 , 50 0 Well. Oordass - < ■•• 119 Customs duties collected at the port of Wellington yesterday Sfflou,nted to '£i<sl ?.?.<«!<■■■ ' -■ '..-■ .''■'•

JAPANESE BANKING. Substantial increases .in deposits have been a. feature of moat of the banking institutions in Japan throughout tho duration of tho ivar down to the latest reports, which cover the year. 1917. Another point which is significant, being coincident with the movement first mentioned, is a tendency to increase the paid-up capital stock of tho bankn. As an instance, the deposits of the' Yokohama. Specie Bank, -which has a branch in Australia, roso from about £27,500X00 to £52.700,000 during last yenr, and in tho same period approximately £600,000 -was added to the paid-up capital, which was thus lifted in aqzrcgato to J33.£00,0C0. Tn tile case of tho Industrial Bank of Japan, the tendency has been even move marked, fov with the expansion of £14,500,000 to X50.C00.C00, in the total of deposits, the authorised capital was not very far from 'doubled, tho amount at the close of 1917 being .£5.000,000. as ncainst iEI.7cO.OCO on December 31, 1916. although' only, part of 'he increase -was nctnallr pnlcl un. the latest, balance-sheet showjne £949.550 un'•ailed. It is announced that- the Sumitomo Bonk of Osaka has established -a branch in London. This is ono of the most influential • bunkim? institution!! in Japan. Tts capital and reserves exceed ■ fiUfmm. pud its total deposits ih-h £18,800.000. It bn,3 branches in New. York, Ran Frflnricco. Bombay, Honolulu, Shanghai, and Hangkoiv.

; BRITISH FIFE INSURANCE. ■Balance-sheets of British insurance offices, for 1917 reveal that their fire insurance operations ri'iiultett. in a moderate ratio of profit. TS-enty-one leading cqmnaniM ohoiv an aggregate income from fire business of £53,725,503, and the trading profit on this huje uiim is only 8.5 per'cent. The year vens I'reo from any abnormal events for fire underwriters, except, the conflagration at .Salonika, which resulted in an incurnnco loss of £4.000,000, but only two or threo British companies ivere seriously hit. A' remarkable feature in the ec_odunts of several offices is the important amounts set aside for depreciation of investments, some offices having appropriated over £1,500,000 for that purpose. Tho amounts necessary for taxation are in Borne cases. almost staggering, five leading offices a-lono providing £1,534,185. for British taxation, after paying increasing taxation in the British Dominions andelEewhere. It was pointed out, in more than one speech at tho annual meetings, that fire insurance premiums -were about the only ' "necessities" -which had not been increased, and that owing to the rise in the cost of bnildine, etc.. amounts of insurance which micht have been adpfiuato before the -war were now quite insufficient.

AUSTE.AWAKA-F.Tr JWALATO LAND V COMPANY. Australian-New Zenlntiri Cablo Association. London September 11. The Now Zealand and Australian Land Co. has <leeUrcd a dividend of 5 per cent., and a, bonus of 5 per cent.—Aue.-N.Z. Cable Assn. - . AUSTRALIAN PRODTJCE. Sy Telesraph-Prcss Aesociation-Copyright (Rec. September 12, 9.20 p.m.) Sydney, September 12. ,Oatß, Algerian, feeding 4s. 6d., milling 4s. 9d.; Tasmanian,. ss. 6d. Maize, ,6s. -Potatoee, Tasmanian, £6 to £3. Onions, £25. Adelaide, September 12. Oats, os. Bd.

. MINING NEWS

WELLINGTON;SHARE MARKET. , In the mining marKet yesterday sa.lea weremade of ffaihi shares at 40s. 9d. and 4Qs. (A. qn \Change. The quotations were as uuder:—l ' . , : ' ■ Buyers. Scllore. £ s. d. £ B. d. felisman 0 9 1 — ffaihi 2 0 6 2 10 Grand Junction 0 13 5 0 U 7 Westland Goid 112 6 - STOCK EXCHANGE. By Telegraph—Press Association. Auckland, September 12. Sales :-Wilson's Cement, 145.; Hill and Plummer, 225.: Rising 'Sun, 3s. 3d. Cliflstchuroh, September 12.' kales -reported :-Euddart-Parker, £2 55.; New Z'ealand Refi-igreratinsf Co., £2 55.; Christchurch Gas, £5 16s. " »