FARMING & COMMERCIAL

Dominion, Volume 14, Issue 301, 14 September 1921, Page 8

FARMING & COMMERCIAL

NEWS AND NOTISa

AUCTION SALES FORTHCOMING FIXTURES. v TO-DAY. X Buckls Street, Wellington, 10.30 a.m.—Sale of military / stores (Johnston and Co.). 157 Lambton Quay. Wellington, 10.30 a.m.— Furniture sale (Johnston and Co.). Upper Hutt Yards, 1 p.m.—Stock sale. Fry’s Lane, Lotver Hutt, 1.30 p.m.—Stock sale (11. E. Leighton). 137 Lambton Quay, Wellington, 1.30 p.m.—‘ Poultry sale (Hodgkins, Carver). Johnsonville Y’ards, 2 p.m.—Stock sale. TO-MORROW. Buckle Street. Wellington, 10.30 a.m—Sals of military supplies (Johnston and Co.). FRIDAY. Feilding Yards, 12 noon.—Stock sale. , LONDON MARIAS HIGH COMMISSIONER'S CABLED f REPORT. The Department of Agriculture has received the following cablegram, dated September 10, from the High. .Commissioner for New Zealand, London :— .Meat, —Mutton market quiet. Lamb market dull and prices easier. Market is affected by large supplies of fresh lamb and. heavy arrival cA| imported. Buyers holding oil’. Beef mamtains firm tone, but no improvement in demand for inferior quality. New Zealand mutton, best light weight; September 10, 83rd.; September 3, SJd. August 27, BJd, SJd. New Zealand mutton, best heavy weight: September 10, 6jd.; September 3, GJd.; August 27, 6Jd. New Zealand lamb, best light L weight ewes, slightly better demand : September 10, 5 5-Bd.; September 3 ; August 27, . Now Zealand lamb, light weight: September 10. Is. Old.; September 3, Is. Id.; August 27, Is. Id., Is. ljd. New Zealand lamb, heavy weight: September 16, lid.; September 3, Hid.; August 27, lid. New Zealand beef, prime ox, hinds: September 10,'6d.; September 3, Cd.; August 27, Gd. New Zealand beef, fores: September 10, 4-} cl. September 3, 4-Jd.; .August 27, 33d. Id. Argentine chilled Ipeef, hinds: September 10, x lold-; September 3. lljd.; August 27, IOJd. Argentine chilled beef, fores: September 10, 5Jd..; September 3, Cd.; August 27, si<L I Butter.—Market very quiot at the decline and prices • again lower. Irish,' ■ salted, slow: September 10, 2125. to 2205. per cwt., Is. 103 d. to Is. llld. per lb.; September 3, 2355. per cwt., 2s. lid. per lb. Danish, demand .quiet and prices irregular. Production reported •to be keeping up well: September 10, 2365. to 2145. per cwt., 2s. IJd. to 2s. 23d. per lb.; September 3. 2-14 s-. to 2505. per cwt., 2s.’ 2id. to 2s. 2id. per lb. ;„August 27, 2625. to 2615. per cwt., 2s. 4d. to 2s. 4}d. per lb. Colonial, dragging sales at easier prices* New ‘Zealand: September 10, 2265. to 2285. per cwt., 2s. OJd. to 2s. Old. per 7b.; September 3, 2445. to 2165. per cwt.. 2s. 2id. to 2s. 2}d. per lb. ; August 27, 2645. to 2665. per cwt., 2s. 4d. to 2s. 4|d. per lb. Australian. (1) first grade, (2) first and second grade together: September 10, 190 s. to 2065. per cwt., Is. B’d. to Is. lOd. per lb.; September 3, (1) 2255. to 2275. per cwt., 2s. to 2s. OJd. per , lb., (2) 225. to 2245. per cwt., Is. lljd. to 2s. pei- lb.; August 27, (1) 2475. to 2495. per cwt.. 2s. 2Sd. to 2s. 2Jd. per lb., (2) 2435. to 2475. per cwt.. 2s. 2d. to 2s. 2ld. per Th. Argentine: September 10, 182 s. to 1975. per cwt.. Is: 71d. to Is. 93d. per lb.; September 8. 2025. to 2195. per cwt., Is. 9Jd. to Is. Hid. per lb.; August 27, 2155. to 2535. per cwt.. Is. lid. to 2s. Id. per lb. Government revised ex store price:—September 9 to 15: New Zealand, first and second grade, 2245. per cwt., 2s. per lb.; Australian, 200 s. per cwt.. Is. gid. per lb.; Argentine, salted and unsalted, 190 s. per cwt.. Is. Bld. per lb. September 2 to 8: New Zealand, first and second grade! 2425. per cwt., 2s. IJd. per io.'; Australian, 2235., 2085., 2205. per cwt.. 25., Is. 10}d„ Is. llld. per lb.; Argentine, salted and unsalted, 210 s. per cwt.. Is. lOld. per lb. August 26 to September 1: New Zealand, first and second grade, 2625. per cwt., 2s. 4d. per lb.; Australian, 2455., 2425. per cwt., 2s. 2 ] d.. 2s. lifd. per lb.; Argentine, salted and unsalted, 2255. per cwt., 2s. per lb. Cheese.— English, small supply and demand slow. Finest farmers’. September 10, 1555. to 1655. per cwt.. Is. TJttoto Is. sjd., per lb.; September 3,160 s. to 168 s. per cwt.. Is. sld. to Is. 6d. per lb.; August 27, 1605.-to 168 s. per cwt., Is. 5Jd. to Is. 6d. per lb. Colonial again cheaper. Canadian:—September 10: White, i 1125., 116 s. per cwt., Is., Is. OJd. per lb.; coloured 110 s., 114 s. per cwt., H?d., Is. Oid. per lb. Quotations c.i.f. for best section have been as low as 108 s. per cwt. (11UI. per l'b.) but market closed firmer with better tone at 109 s. to lj.2s. per cwt. Hid. to Is. per lb. September 3: White, 118 s., 1245. per cwt., Is. OJd., Is. Hd. per lb.; coloured, 1165., 1225. per cwt.. Is. Old., Is. Id. per lb. August 27: White, 130 s, 1345. per cwt., Is. 2d., Is. 2Jd. per lb.; coloured, 1285.. 130 s. per cwt., Is. IJd., Is. 2d. per lb. New Zealand:— September 10: White. 1125., 116 s. per cwt., Is., Is. per lb.; coloured, 1045.,HOs.’ per cwt., Hid., Hid. per lb. September 3: 'White, HBs., 1225. per cwt., 1s OJd., Is Id. per lb.; coloured, H4s., 120 s. per cwt’., Is. Old., Is. Old. per lb. August 27: White, 1285., 130 s. per cwt.. Is. lid.,ls. 2d. per lb.; coloured, 1265., 130 s. per cwt.,-Is. Hd., Is. 2d. per lb. Stocks,' London, September 8: Canadian, 135,654 crates,' against 97,178 crates last year: New Zealand, 5090 crates, against 12,691 crates last year. Casein.—Market quiet. English rennet quoted ah X6O per ton, French 4150 per ton, Argentine lactic at <£so per ton. Hemp.—Market-'-very quiet and values easier in absence of buyers. "J” grade, July-September shipment, quoted at 4137 per ton. Value August-October and Sep-tember-November shipments, 4137 per ton, sellers. New Zealand market steady, with a moderate inquiry, but no business reported. Quotations nominal, sellers spot high-points 4142, fair .£37 per ton; September-November shipment 4138 and »C 35 per ton respectively, with possible .buyers about 412 per ton Jess. Wool’.—Sales continue strong and compeTiHon keen for all classes. Merinos and fine crossbreds now 20 per cent, higher than closing rates last series, low crossbreds 10 per cent.

NEW ZEALAND DAIRY UNION

A PROSPEROUS YEAR. (From Our Own Correspondent.) Palmerston North, September 13. At the annual meeting of the New Zealand Dairy Union, held at Palmerston North on Monday, the chairman (Mr. J’. A. Nash, M.P.) congratulated the suppliers on thp excellent year experienced, so far as t.ie sale of their dairy produce was concerned. From the commencement of the season up to March 1 they had been receiving on their butter sold in the local market the Government subsidy of 6d. per lb. This had enabled suppliers io secure the world’s market price for their butter, and had allowed the factory to show very satisfactory returns. ■ From the middle of April to the end of August they hud received the Government subsidy of 2d. per lb., but now that, as well as the commandeer, had come to an end. The suppliers had now the right to go on the world's markets; they could sell their product locally or could consign to outside markets in order to get the best prices going. When the commandeer came into force they had shipped their butter through a London firm with whom they had arrangements for twelve months. The arrangements had been so satisfactory that the directors had decided to give that firm an opportunity of again handling their butter. Tin making this decision they had taken into account "'the possibility ot tho United States, British Columbia, and other countries coming on to the New Zealand market to purchase; Arrangements

were come to whereby they should only pay commission oil butter actually disposed of by that firm, and the directors had reserved the right to send any of their butter to other markets. It was not likely that they would receive high prices ruling last year, but It seemed safe to assume that by the time the New Zealand product reached the Home market the surplus stocks would have been disposed of, and a better price would be offering. The cost of exporting butter had increased enormously ■.since pre-war times, having now reached about 3d. per lb. At the same time they were in a better position than the meat producers, whom it did not pay at all to export under the present unsatisfactory conditions. Last year the union had been in the fortunate position of being able to pay suppliers 2s. 7d. per lb. for butter-fat. This was satisfactory, but the cheese factories had not done so well, and in somo-instances had lost a good deal of money. Tne loss on cheese had resulted, in some factories closing down, with the result that some of their suppliers had been diverted fo the union. There was indeed, so much butter-fat offering that they had to decline to take it a? they were unable to deal with it. Last year there had been' practically nothing in raising pigs and calves, which in the past, had been a source of revenue to the suppliers. "When these were profitable, the 2s.- 7d. paid for but-' tor-fat would have been equal to 2s. 10d., owing to dairymen being able to utilise their skim milk for calf and pig-raising. In paying out 2s. 7d., the directors felt that they had given the suppliers the best result they could. The dividend had again, been fixed at 2J per cent. The turnover at the factory for the past year had increased by 65 tons, and it was anticipated that during the coming year it would be even larger. He concluded by urging all supplier-shareholders to stick to the union and help to make it the success it should be. The report and balance-sheet wore adopted. Messrs. F. Maule and J. Parsons, the retiring directors, were re-elected. t Mr. R. Wilberfoss, of Wellington, was appointed auditor. REGISTRATION OF BULLS LEGISLATION IN SOUTH AUSTRALIA. (Rec. September 13, 9.25 p.m.) Adelaide, September 13. The State Treasurer announced at the Agricultural Conference that the Government bad decided to legislate to provide for the annual registration of all bulls. —Press Assn. • WOOL MARKET PRICES MAINTAINED AT LONDON _ SALES. London, September 12. An average selection was offered at the mixed wool sale. Competition, especially for Continental business, was hardly equal to last week’s sale; but prices were fully maintained. Realisations: — "Row, Mudgee," ■ 18)d.; "Werrendon," 15Jd.; "Challican," 22Jd.; New Zealand (?), top price 351 d., average 33d. The Bradford tops market has a good tone, and some inquif-y for spot business, but. little for forward transactions. Quotations, however, are hardening.—Aus.N.Z. Cable Assn. COMMERCIAL ITEMS INVESTMENT SHARES. A sale of Wellington Trust’ and ‘Loan Bhares at £5 10s. was reported yesterday.

CUSTOMS REVENUE. The Customs revenue collected at the, port of Wellington yesterday totalled £6530 Bs. 7d. 'exchange RATES. Australian-New Zealand Cable Association. London, September 12. Foreign rates of exchange arc quoted as follow:—Paris. 51J3 francs to £1; Stockholm. 17.25 kroner; Christiania. 28.67 kroner; Copenhagen, 21.27 kroner; Berlin, 398 marks; Montreal, 4.19 dollars; New York, 3.74 dollars; Calcutta, 16Sd. to rupee; Hongkong, 32id. to dollar; Yokohama, Mid. to yen. , , PRICES OF METALS. (Rec. September 13, 11.10 p.m.) Londont September 12. Copper.—On spot, £67 6s. 3d. per ton; forward delivery, £6B 7s. 6d. Lead—On spot, £23 12s. 6d. per ton; forward delivery, £23. Spelter.—On spot. £24 15s. per ton; forward delivery, £25 10s. Tin.—On spot, £156 2s. 6d. per ton; forwara delivery, £l5B 7s. 6d. Silver.—Bars, 39d. per ounce standard. ! MINING NEWS WELLINGTON SHARE MARKET. The quotations yesterday for mining

STOCK EXCHANGE. By Telegraph.—Press Association. Auckland, September 13. • Sales: Walhi, Ills. 9d.: Grand Junction, Bs. 9d.; South British, 255. fid. Sale reported: New Zealand Insurance, 49e; 3d. V Dunedin, September 13. Sales: P. and U. (deferred), £356; Brown, Ewing (ord.), 245. (two).

The quotations were as 'ollow: — Seller £ s. d. Buyers. £ js. d. Inscribed Stock, 1938 83 7 5 Inscribed Stock. 1933 91 10 0 91 15 0 War Bonds, 1938 83 7 6 P.O. Bonds, 1927 90 15 0 — P.O. Inscribed Stock,1927 90 15 0 ' National Bank 5 10 0 5 12 0 Bank New Zealand — 2 9 6 12 8 0 12 12 0 Goldsbrough Mort 1 11 6 — National Mortgage 3 11 0 Well. Gas (ord.) — 8 10 0 National Insurance 3 2 0 N.Z. Insurance 1 9 0 N.Z. Refrigerating (10s.) — 0 17 9 0 car Til eat 1 11 9 Well. Meat Exp. (£5) ... Well. Moat Exp. (£3 4 6 0 1?q ■) 3 0 0 3 5 0 Huddart-Parker (ord.) ... 2 3 6 Union Steam (pref.) 0 18 0 Kaiapoi Woollen (10s.) ... —— 0 11 3 Well. Woollen (ord.) 8 2 6 —- Westport Coal 1 7 6 1 8 0 0 15 Burns-Philp Glgfxo Manufact'g. Co. ... 1 9 0 92 0 0 Howard Smith (cum) .... 2 0 Ox — Dental and Meu»cal Sup- —. 1 7 0 N.Z. y Drug (cum.) 2 15 0 Wairarapa Farmers (£5) Wairarapa Farmers — 5 6 0 0 17 0 Whitcombo and Tombs 2 14 6 —

Buj’erR. £ s. d. Sellers. £ s. d. Blackwater Mines — 0 5 0 Mt. Lyell . 0 13 8 ■— Waihi .110 12 0