FARMING & COMMERCIAL

Dominion, Volume 14, Issue 304, 17 September 1921, Page 10

FARMING & COMMERCIAL

NEWS AND NOTSS

AUCTION SALES FORTHCOMING FIXTURE!. TO-DAY. 137 Lambton Quay, Wellington, 10.30 a.m. —Meat sale (Hodgkins, Carver) MONDAY. Dominion Avenue, Wellington, 11 a.m. — Furniture sale (Vine and Wilson). TUESDAY. Hikutnia Yards, 11.30 a m.—Land sale (Farmers' Auctioneering Co.). 139 Lambton Quay, Wellington, 1.30 p.m.— Poultry sale (Hodgkins, Carver).. 20 Eimu Road, Kelburn, 1.30 p m.—Furniture Bale (Johnston and Oo.). 195 Lambton Quay, Wellington, 2.30 p m.— Property sale (Harcourt and Oo.). LONDON WOOL SALES SERIES MARKED - BY KEENNESS OF BIDDING OLD-TIME COMPETITION REVIVED London, September 15. Tho wool sales have closed very firm. The mixed catalogue series throughout have been marked by the old-time competition and keenness of bidding. Continental buyers have taken the leading part, specially for merinos and the finer crossbreds, with tho home trade competing strongly, especially during the last few days. Tho tone of the market throughout has been confident, and at times buoyant. Merinos maintained their opening advance with a hardening tone this week, and groasies closed 10 per cent, to 15 per cent, above July rates. Pieces, bellies, and faulties showed the greatest apjjjeciation; scoured wools were 10 per cent, up. / The strength of crossbreds developed throughout, and the finer grades closed 15 per cent, to 20 per cent, up; medium to coarser crossbreds met with wider competition at 10 per cent, to 15 per cent, advance. Slipes were 10 per cent, up. Lambs were scarce, especially the better sorts, which were in strong demand at 10 per cent, advance. The catalogue of 140,710 bales was practically all sold. Realisations: “Bingley," 22.Jd.; "Maneroo,” 20d. to 19d.; "Kinross,” 19d. to ISpi.; "Esher," 20}d. The Bradford market is active and quotations are hardening.—Aus.-N.Z. Cable Assn.

KEEN COMPETITION IN MEI,BOURNE.

Melbourne, September 16.

Tho final wool auction of the. September series found competition keen and animated. Prices were practically on a par with the highest rates in London.— Press Assn.

BROKERS’ REPORTS

Messrs. Dal get y and Company, Limited, report having received the following cablegram from their London house under date of September 15:— "Wool sales opened firm and active, with brisk competition. Continental and English buyers ar* operating freely, bulk of the offerings have been sold. As compared with last pales’ merino wools, super scoured, 10 per Trent. higher; merino wools of other descriptions: scoured 10 per cent to 15 per cent, higher; merino wools: super greasy 15 per cent, to 20 per cent, higher; merino wools of other descriptions: greasy 15 per cent, higher. Crossbred wools; Fine quality greasy 10 per cent, to 15 per cont. higher; crossbred! wools: medium quality greasy 10 per cent, to 15 per cent, higher; crossbred wools, coarse greasy 5 per cent, to 1.0 per cent, higher; crossbred'woolo, fine qualify, scoured 10 per cent, higher-, crossbred wools, medium and coarse quality scoured 5 per cent, higher; slipe wools, fine crossbred 10 per cent, higher; crossbred wools, medium and coarse quality, 5 per cent, higher.” Messrs. Levin pnd Co., Ltd., have re ceived the following from their London agents, dated September 15: —"Wool sales have closed firm. As compared with the opening sales of the September series, the closing sales show merinos Id. per lb. dearer; fitie crossbreds and medium crossbreds, id. per lb. dearer; coarse crossbreds, -jd. per lb. dearer." The following are some of the prices realised: —"Claremont,” Marti 42 bales, crossbred, 6jd. per lb.; "Irff/PB,” Mas*terton, 15 bales, crossbred. 5Jd. per lb.; "GSB/OO,” Masterton, 13 bales, crossbred, 5Jd- Per lb.; "J4./L," Fcilding, 11 bales, crossbred, 5 15-16d’.- per lb. The New Zealand Loan and Mercantile Agency Company. Limited, have received the following cablegram from their Lon. don house, under date September 15:— Wool: Tho wool sales closed firmly today. Offerings' most sold. As compared with last sales’ closing rates, .prices are about 15 per cent, higher for greasy super merino, fine and medium greasy crossbred; about 10 per cent, higher fo r fine and medium scoured crossbred and coarse greasy crossbred; about 10 to 15 per cent, higher for medium and inferior and scoured super merino; about 5 per cent, higher for coarse scoured crossbred and crossbred slipe; about the same for merino lambs; and about 10 per cent. Hower for greasy crossbred lambs. Average current London values of the under-noted descriptions of New Zealand greasy wool: Good jporino, 16}d.; medium merino, ■ 1314.; inferior merino, lid.; fine crossbred, 14|d.; medium crossbred, Sd. coar-e crossbred (40’s), 5Jd. ; coarse crossbred (3G’s). sld. The New Zealand Farmers’ Co-opera-tive Distributing Co.. Ltd., report having received the following cablegram from their Tzuidoo office: —Wool sales closed very firm. Clean scoured, present value’ New Zealand wool grade 50, 2s-; grade 50, Is. 4Jd.; grade 46. 10? d.; grade 44, 9d.; grade 40, Bd.; grade 36, ’ld. Messrs. Murray, Bobcrts, and Co., Ltd., have received the following cablegram fiom their London friends, Messrs. Sanderson, Murray, and Elder, Ltd., under date September 15: —Sales closed firm: 95 per cent. sold. All sections operating. Compared with present London sales opening rates, greasy merino, good, advanced 10 per cent.; greasy merino, inferior, advanced 5 per cent.; greasy merino, pieces and bellies, good descriptions, par to 5 per cent, advance: scoured merino, good demand, advanced 10 per cent.; crossbred greasy, fine, advanced 5 per cent.; crossbread greasy, medium, par to 5 per cent, advance; crossbred greasy, coarse, shows no change; crossbred scoured, fine, par to 5 per cent, advance; crossbred, other descriptions. no ichange. Slipe market irregular, advance 5 per cent, to 10 per cent. Lambs neglected. DAIRYING IN SOUTH CANTERBURY By Telegraph—Press Association Timaru, September 16. Mr. T. D. Burnett, M.P., who made a tour of the South Canterbury co-operative dairy factories to-day’, learned that in tho aggregate they distributed well over X 200.00!) yearly to suppliers, though dairying was only beginning in this district. Helped by tho slump in meat .- nd wool tho Industry was expected to increase vastly. BUTTER AND CHEESE ‘ LONDON MARKETS DULL. Rondon, September 15. Tho sale of butter is very slow. The Government prices have been reduced still further:—Australian by ss. per cwt.; New Zealand, 4s. Cheese is dull. New Zealand, white, is quoted at 108 s.; coloured. 100 s. to 104 s. ■

TAXATION OF FARMERS ANOMALIES POINTED OUT. By Telegraph —Press Association. Timaru, September 16. At the annual meeting of the South Canterbury branch of tho Sheepcwners’ Union, Mr. Bernard Tripp raised the question of the taxation of farmers by land tax, super-tax, and income tax. The super tax, he said, had been reduced' from 50 to 33 1-3 per cent., but the land tax had been raised, so that the two were greater than before. If the farmers made no income or made a loss, the?' had land and super-tax to pay; while if a town company had no income it paid no tax. He moved that the central executive should be asked to circularise members of Parliament, urging that the super-tax be abolished 1 . The motion was carried. Tho meeting reaffirmed a resolution passed last year that « yearly export license should be issued to Armour and Co. | Mr. George Murray was re-elected chairman of the committee. THE SHEARERS’ AWARD THE ACTUAL RATE OF PAY. A shearer correspondent asks for on explanation in plain terms of the rates payable for shearing under the new award. Statements by the union officials, he says in effect, have created an impression that varying rates will bo paid for shearing the same number of sheep, and that skilled men will lie penalised as compared with those who are less expert. As a matter of fact, the addition of a small flat rate coot of living bonus to tire piecework rate means that the rate per hundred will vary slightly, but except in conditions which will never nriso in actual working, the variation is quite trivial. The rate now awarded is 245. per hundred, plus the cost of living bonus. This bonus is a fraction under Is. 9d. per day. Thus, if a shearer shears one hundred sheep per day he will get 255. 8 4-sd. for his day’s work In the shearers’ award, as in awards relating to all other trades, including those which are paid on a piecework basis, the cost of living bonus is o flat rate payment. Apart from this email bonus of Is. 8 4-54. p-r day, the award directs that shearers shall be paid as hitherto a piecework rate which is now fixed at 245. a hundred.

The outstanding fact is that shearers will be paid this rate of 245. per hundred on whatever number of sheep they slrear, and, in addition, will receive the bonus of Is. 8 4-sd. per day. MANY MEN ACCEPT AWARD. By Telegraph.—Press Association. Timaru, September IG. The annual meeting of the South Canterbury branch of the Sheepowncre' Union to-day heard the secretary of the Christchurch branch explain the shearers’ new award. Regarding the shearers’ demand for 355. instead of the award rate, it was stated that many shearers had agreed to accept tho award. Ono owner hod filled his shed through applications by letter. .Another requiring a large booking sqid that he had nover before had so many applications. CANTERBURY MARKETS By Telegraph —Press Association. Christchurch, September 16. The firming of the oat market continues. North Island merchants yesterday paid 3s. Bd. f.o.b. S.I. for A grade Gartons, and to-day 3s. was paid for oats at country stations. The firming reported last week-end has caused farmers to loosen supplies, and offerings have been much freer in the past few days. Chaff is not being offered to any great extent. Quotations are better—from £3 ss. to £3 7s. Gd. at country stations. A sale of barley is reported at 4s. at country station. It is understood that brewers are well supplied with stocks, some of them carried-over con-tract-grown barley from last year. Clover and grass seeds are quiet again, with prices maintained during the past ien days. Over 15,000 sacks of potatoes have. Ireen shipped north from Timaru and Lyttelton. With the dispatch of these shipments inquiries from the North .slackened off, and in the meantime there is very little doing. Quotations are 325. Gd. to' 375. 6d.

COMMERCIAL ITEMS INVESTMENT SHARES Yesterday's quotation, for investment shares were as follow:— Buyers. Sellers.

CUSTOMS REVENUE. The Cußtnms revenue collected at the port of Wellington yesterday totalled £13,535 2s. 7d. PRICES OF METALS. Australian-New Zealand Cable Association, (liec. September 16, 10.30 p.m.) London, September 15. Oopper—On spot. £67 13s. 9d. per ton; forward delivery, £6B 11s 3d. Dead.—On snot. £23 ss. ner ton; forward delivery, £22 15s. Spelter.—On suot. £25 per ton; forward delivery. £25 10s. Tin—On rpot. 2s 6d. per ton; forward delivery, £157 7s. 6d. Silver.—Bare. 39-. d. ner ounce standard. EXCHANGE RATES. Australian-New Zealand Cable Association. (Rec. September 16. 6.5 p.m London, September 15. Foreign rates of exchange are quoted a« follow:—Paris, 62.97 francs to £1; Stockholm, 17.17 kroner: Christiania, 28.73 kronor; Copenhagen. 20.95 kroner: Berlin, 405 marks; Montreal. 413 dollars; Now York. 3.69 J dollars; Calcutta-, 16od. to rupee; Yokohama, 31d. to ven; Hong-Kong, 32Sd. to dollar MELBOURNE HIDES MARKET By Tc’-r-;;' ' f - I"' 'lrnvvlght (Rec. September 16. 10.30 p.m.) Melbourne. September 16. Hides worn firm nt to-day’s sales. .AU good conditioned sorts advanced in price by a farthing. Other sorts were unchanged .AUSTRALIAN PRODUCE. By \ i Melbourne, September 16. ; Barley, English, 4s. 9d. per bushel: Cane. 3s 9d. to 3s lOd. Oats, 2s. 7d. per bushel. Potatoes, £3 10s. to £5 per ton. Onions,

Inscribed Stock, 1933 Inscribed Stock, 1933 £ s. d. 83 10 0 £ 6. d. 83 15 0 91 10 0 Inscribed Stock, 5£ per cont., 1930 — 93 0 0 Wan Bonds, 193863 10 0 —- War Bonds, 1930 87 5 0 88 0 0 PO. Bonds. 1927 90 15 0 — P.O. Inscribed Stock. 1929 90 0 a —— P.O. Inscribed Stock, 1927 90 15 0 — Bank Australasia — 90 10 0 National Bank 5 10 0 5 12 0 Bank New South Wales — 35 0 0 Bank New Zealand 2 9 0 —— Union Bank 12 8 0 12 10 0 Goldsbrough Mort 1 10 6 — N.Z. Loan and Mer. (ord.) BO 10 0 — Well. Investment —— 0 10 0 Well Gas (pref.) 0 12 6 0 15 6 National Insurance 3 0 0 3 1 6 N.Z. PcfrigeratiiiE (10b.) — 0 17 8 Gear Meat 1 11 9 Well. Meat Export (£5) — 4 5 0 Well Meat Export (£3 12s. 6d.) — 3 5 0 Huddart-Parker (pref.)... 0 16 6 Union Steam (pref.) ... 0 18 0 — P and O. Det. Stock... 350 0 0 — Well. Woollen (ord.) ... 0 3 6 — Westport Coal 1 7 6 —— Waipa Coal — 0 15 3 n I <1 (nrrf.'l —— n 18 Glaxo Manufacturing Co — 92 0 0 Dental & Medical Supply — 1 7 0 N.Z Drug 2 16 0 N.Z. Pa.per Mills 1 1 6 — Wairarapa Farmers (£5) — 5 3 0 Wairarapa Farmers ipref.) 0 17 0 Whitcomb® and Tombs ?. 14 6 —- Wilson’s Cement 0 15 —