FARMING & COMMERCIAL

Dominion, Volume 15, Issue 284, 26 August 1922, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. Hain Road, Upper Hutt, 1.45 p.m.— Furniture sale (Johnston and Co.). MONDAY. 21 Mannctra Street, Wellington, 11 a.m. — Sale of drapery (Johnston and Co.). Levin, 11 a.m.—Property sale (Murray, Roberts and Co.). Levin Yards, 12 noon. —Stock sale. 14 William Street. Hataitai, 2 p.m.— Furniture sale (Wheatley and Co.). 195 Lambton! Quay, Wellington,, 2.30 p.m. —Property sale (Harcourt and Co.). 105 Customhouse! Quay, Wellington, 2.30 p.m.—Property sale (S. G. Nathan and Co.).

FARMING INTERESTS DAIRY PRODUCE LONDON QUOTATIONS. (Roc. August 25, 5.5 p.m.) London, August 24. The butter market is quiet, but the "prices are firm. New Zealand choicest, 210 s. per cwt.; exceptionally choice, 2125. ; unsalted, very scarce at 2205. to 2245. Australian, is nominally at 200 s. in th© absence of sup Juries pending the discharge of the Ascanius, Cheese is slow of sale. New Zealand. white, 09s. to 925. per cwt.; coloured, 85s. to 86s. —Aus.-N.Z. Cable Assn.

Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house, under date August 24- — “Butter market quite. We quote: New Zealand salted. 2145.; Australian j G.A.Q., 1985.; Australian finest salted, 2065., unsalted 2125. (Danish, 2205.; | Cheese—Market weak and inactive: f New Zealand white, 925.; coloured, ! 865.” j WOOL MARKET BRADFORD QUOTATIONS [ HARDENING. (Rec. August 25, 5.5 p.m.) London, August 24. The Bradford wool market is firm, and quotations aro hardening. Sixtyfours, 56d. per lb.; fifty-sixes, | 30d-; forty-sixes, 14Jd. —Aiffi.-N.Z. I Cable Assn. I CANTERBURY MARKET POTATO MARKET UNCERTAIN. Christchurch, August 25. Potatoes still continue to be tho uncertain bid of the market, although there is a slightly better feeling in some quarters consequent on reports from Auckland that supplies aro lightening there. On th© other hand, this information is questioned by other merchants, who point to heavy supplies going north several weeks ago, and the improbability of these yet being consumed. Special inquiry yesterday elicited the reply that while resellers were offering at £6 15s. per ton for store quotations were £6 10s. Tho trouble tliis year is that there have been an excess of specifications in tubers, and one view .expressed by a merchant was that the prospects were better than ths previous week, and that he was offering £4 10s. to farmers without much response. Although business between merchants had taken place at the equivalent of less than this, farmers were not offering, but it was a question whether their attitude was due to being too busy with other farm work or to the price not being satisfactoiy. The price of £4 10s., requiring digging from the pit, which is usual to nearly 30s. per ton, would be n<,_ better than £3 a few months ago, which was readily offering, and probably they aro content under tho circumstances to leave potatoes in tho pit until they can secure at least equivalent of the April price. Small consignments have been the rule for the past fortnight.. The Wingatui, duo to sail to-morrow nigfht, is taking from southern ports about 4000 sacks, including seed, and about another 1000 from Lyttelton. The Opihi on Sunday it understood to be taking a .small lot of 700 sacks, and the position in Auckland is dependent on what the Katos takes next Wednesday. This boat is the last for a month, and to date instructions from forward buyers for delivery are coming to hand very tardily. Opinions vary as to tho quantity held by farmers. Some opinion is that it is not large; other is naturally reversed. Quotations to farmers at country stations vary in the meantime from £4 7s. 6d. to £4 10s. Freight on oats to England has been reduced by 15s. per ton, and for September is quoted at 455., and for November 50s. Offers of business under Ihe reduction have led to no reply, as they are worth about 2s. 2d. at country stations, and B’s 2s. Ohaff is Lifeless, except for small frtJaU trade. Blenheim is doing what limited North Island business is available. Cocksfoot is weak under the offers being made of Danish seed, and sd. per lb. is about the value to farmers. FROZEN MEAT Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London

house und?r date August 24:— “Quotation New Zealand prime crossbred lamb —Canterbury heavy 10R1., light 11-Jd: North Inland heavy IOJd, ligl'lt IOJd. Demand for New Zealand lamb fair, market steady. Now Zealand prime crossbred mutton —Canterbury heavy s}d., light Gid.; North Island heavy 4)d., light s|d. Demand for New Zealand mutton runs principally on light weights, market steady. Now Zealand prime ox beef-—Hinds 4Jd., fores 3{d. Demand for New Zealand beef better, market firmer. Quotation O.A.Q. crossbred lamb—Australian heavy 9d, light 9}.; mutton, heavy 4Jd., light 4sd. Demand for Austrar lion lamb fair; mutton fair.”

HIDE AND SKIN SALES

The fortnightly sales of 'hides, skins, and tallow were hedd yesterday by the various brokers. A fair catalogue was submitted to a full attendance of buyers. Sheepskins met' a dragging market, and values all round showed a decline of id. to Id. per lb. The market for salties was limited, and values were about on a par. Last sale’s hido valu»3 were barely maintained. Kips and yearlings were about on a par with previous' sale rates. Calf were lower by fully id. Tallow was down 2s. per cwt. The following is tho range of prices: Sheepskins.—Halfbred, 4|d. to 7jd.; fine ciossbred, 4Jd. to 7d.; medium to coarse crossbred, 3d. to s|d.; short to half-wool, lsd. to 3jd.; lambs, 2d. to 5Jd.; dead and damaged crossbred, let. t j 4Sd.; inferior and badly damaged, id. to 2jd.; pelts, Id.; damp salted, and green, Is. -to 4s. Bd.; lambs,- salted, Ils. to 4s. Id. Hides. —Ox, heavy, 591 b. and over, B|d. to IM.; ox, medium, 59 to 581 b., 6id. to Bgd.; ox, light, 491 b. and under, 6;|d. to 7frd-; cut, slippy and inferior, 3d. to 7d.; cow, heavy, 551 b. and over, 61d. to 7gd.; cow, medium, 421 b. to 541 b., Gid. to 7|d.; cow, light, under 421 b., 5Jd. to 7fd.; cut, slippy, and inferior, 3jd. to 6|d.; bull, stag, 2jd. to 4d. ■ yearlings, 321 b., 4|d. to B^d.; callj, superior, up to 101 b., 12d. to 14|d.calf, medium to good, up to 101 b., Hid. to 14d.; calf, damaged, up to 101 b., 2d. to 9d. .. Tallow, —In casks, 225. to 235.; in tins, etc., 17s. 6d. to 21s. 6d. Sundries. —Horsehair, 15Jd. to 24d.

COMMERCIAL ITEMS, WELLINGTON STOCK , EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday sales were reported of 54 per cent, inscribed stock, 1933, at £99 10s., and Wilson’s Cement at 19s. 3d.; at tho afternoon call the sales reported were Bank of New South Walgs (new issue) at £35 10s., New Zealand Drug Company’s shares at £2 12s. 3d., and 5). per cent, inscribed stock, 1933, at £99 10s., the latter being on a par with the sale made on zlugust 17. The 4} per cent, stocks and bonds were unchanged at £95 12s. Gd,, and the 5 per cent. P.O. stocks were also without movement at £95 ss. In banking shares Bank of New Zealand shares were noticeably weaker, buyers offering £2 155., while on Monday last the bidding was £2 16s. 3d. Buyers Oof Union Bank shares have advanced their bids Is., and now offer £l3. In the financial section buyers were in tho market for Dalgety aiid Co.’s shares, offering £lO ss. (cum. dividend). National Mortgage shares were a shilling higher, with tho buying quotation at £3 9s. Gas shares continued to show an upward tendency. For Napier Gas shares (£lO paid) buyers offered £9 7s. 6d., while on Saturday last, when the shares were last quoted, the highest price offered was £9. Gisborne Gas shares are very firm at 10s. 6d., with little chance of business being done at the price. For Wellington Meat Export shares (725. 6d. paid) buyers offered 505., lor Is. 6d. below the previous day’s offer. Huddart-Par-ker shares were easier, with buyers offering £2 10s. 9d., as compared with £2 125., the price -recorded on Wednesday. Kaiapoi Woollen (contributing) shares have firmed slightly, and were in demand at 10s. 3d. Coal shares were steady and unchanged. New Ze Hand Drug shares have commanded some attention during the past two days, but buyers reduced their offers s’ightly yestefday. Yesterday’s buying and selling prices were as under:—

COMBINED BUYERS, LIMITED AN UNSATISFACTORY YEAR . A motor-car bo:ng regarded as a luxury, it was inevitable that the motor trade should have suffered from the slump. Tie Combined Buyers, Limited, a company formed recently, the shareholders consisting mainly if not entirely of owners of motor vehicles, with the object of-. co-operative buying, held its annual meeting in tho Chamber of Commerce on Thursday afternoon, when Mr. IV. S. Bennett, chairman of directors presided. Tho other directors present were Messrs. R. S. Abraham. A. Wallace, K. P. Hay, and E. ,T. Stephens. The balance-sheet was net quite ns satisfactory as the sharohalders would have liked, but it was recognised that but for tho very close attention given to the business by tho directors the results might have, been very much worse. In' moving the adoption of the report and ' balance-sheet, the chiarman directed attention to the adverse conditions of trado during the past year, tho excessa'o competition duo to forced rales of second-hand cars and even of_ new vehicles, due to the fimuicial striiigency, tho oontrac-

tion of the business of tho company owing to tho majority of the shareholders being farmers who were all affected by tho slump in produce prices, and the fact that the motor trade had been adversely affected to a greater extent than any other class of business. ■ The shareholders who addressed the meeting spoke in a sympathetic strain, all realising that under the circumstances the results were only such as should have been expected.

LONDON BUTTER MARKET A QUIETER TONE. Private cable messages indicate that tho London butter market has a quieter tone, but the price seems to have advanced for the quotation for salted New Zealand butter on Thursday was 2145. per cwt., while tho quotation last week-end was 20os8. to 208 s. to 210 s. The advance of 4s. per cwt in a few days is probably responsible for the quiet tone of the market, for buying would naturally be from hand to mouth. The butter market is boiind to remain firm until supplies from the Southern Hemisphere reach tho terminal market in some volume. Some fairly heavy shipments from tho Commonwealth aro now on the water, for Queensland has shipped lo,lt>B boxes, New South Wales 9616 boxes, Victoria 9 2 448 boxes, and South Australia 2126 boxes- These shipments were made ‘the eii<l o-f July. TllO Gallic is taking about 15,000 boxes of Auguf* make from Wanganui, Palea, and Wellington, and sails next week. The s.s. Kaikoura will leave Wellington about September 10 with butter from the same sources of supply, and tho s s Athenic is now loading butter at Auckland. When these cousijpinients are nearing destination the price is likely to weaken, but the extent of the fall will naturally depend upon the demand,

THE EGG MARKET RETAIL PRICES is. 2d- AND Is. 4d. Compared with a year ago, eggs are cheap, for twelve months apo they tvoio rotating at Is. 9d„ while yesterday they were marked up ,m some of the shops at Is. 2d., and in others., at Is 4d The fact of the matter is that during the past twelve months changes have taken place in the methods. of marketing eggs. Durmg the Period the poultry-farmers have formed an association of their own, and market their own supply of eggs. The association is in active competition with other wholesalers, and price-cutting is not unknown. Furthermore some of the larger grocers are able to buy on very advantageous terms, and some or them make a cut line of eggs, recognising that these should be sold as speodj?y S as possible. The smaller tradesmen are. of course, unable to stand up to such competition., but the consumers benefit. At this time of. the year e<rgs are usually comparatively low in price, and the difference of 5d to 6d. between tho current quotation and those of a year ago may, to some extent, bo accounted for in tho lower costs of fowl feed, and the increased competition of poultrymen.

LONDON WHEAT MARKET. AUS.-N.Z. CABLE ASSOcIA-TIoN. (Rec. August 25. 5.5 p.m.) London, August 24. Australian wheat cargoes are steadily held, owing to scarcity, lhe leans vaal’s fi’ om New South Males is quoted at 50s per auarter. Parcels are in moderate demand at sixpence to a shilling MELBOURNE PRODUCE MARKET. BT TELEGBAPH.— PBESS ASSOCIATION. Melbourne, August 25. Barlev English, 3s. lOd. to 4s per bushel 3s. Oats, 3s. 4d. to 3s. 5d Potatoes, £8 to £9 15s. per ton. Onions £l2 to £l3 per ton. At the hides sale large catalogues W ere offered, but although competition was keen, Values for light hides declined Id- per lb -> al l d + E? aVy Other “sheeties” were neglected. Other grades were firm, butare unchanged. PRICES OF METALS. (Rec- August 23, 11.5 p.m.) London, August 24. Conner —On spot, £62 Bs. 9d. P er ton/forward delivery, £62 Ils. 3d. Lead.-On spot. £24 per ton; forward delivery, £23 2s. 6d. Spelter—On spot, £3O los. per ton, forward delivery £3O 2s- 6d. Tin.—On spot, £l5B 16s. 3d. per ton, forward delivery, £l5B 18s. 9d. Bars, 35Jd. per ounce standard.

CUSTOMS REVENUE. Customs revenue collected at th* port of Wellington yesterday totalled £2765. , EXCHANGE BATES. AUS.-N.Z. CABLE ASSOCIATION. (Rec. August 25, 5.5 n.m.) London, August 24. Fore’Fn rates of exchange on August 24 as compared with nar r a G=s nr as averaged first half of Vu7. 21 Ji »o»o^fg B te ll g Yokohama, pence to yen 25J 25| Calcutta, pence to rupee 15S .158 « Hong-Kong, pence to dol. 31J 31 » NEW FILM COMPANY.

Seloctod Super Films (Australasia), Limited, is reported by the Mercantile Gazette” as a registered private company, Wellington. Capital: £15,000, into 15,000 shares of £1 each Subscribers: E. 0. Gurney, 3(50 old., -o0 pref. - E. R.'Chambers. 3700 ord., 200 prof. : H. N. Gooch, 1950 pref.; 11. G. Dockett, 800 pref.: H. A. Bown. 500 n’-ef • H. Page, 1250 a ref.; J. G. Hughes, 500 pref.; J. M- Wilson, 200 pref. ; H. N. Wilson, 200 pref.; I<. M. Chesney, 500 pref ; R. 0 Chesney, 500 pref.; H. S. Hayman 12a pref., E M. Toogood, 250 pref.; H. N. Gooch, 125 pref. Objects: To acquire and carry, on as going concern m all or any of its bi-anches; the busjncK heretofore carried c.n by detected Super Films, Australasia, to pur chase lease, hire, or otherwise acquire moving picture films or .any interest therein and general incidental.

MINING NEWS WELLINGTON SHARE MARKET The quotations recorded yesterday for mining shares were as under:— Buyers. . Bellers. £ s. <l. £ e. d. Blackwater Mines 0 5 9 9 Wann , 1 B 4 Waihi Grand Junction .0 8 6 — STOCK EXCHANGE. Hr TELEGiiAPii.—l’niiss Association. Christchurch, August 25. Sales reported: New Zealand Government 51 per cent. Stock (1933). £99 10s.; Cmldsbrough Mort. £2 2g. 'two parcels!: New Zealand ItefrigeiratiuK, .paid. £1 4s. 3d. (two parcels).

, Buyers. Sellers. £ s. d. <ii s. 1. 4% p.c. Inso. Stock, 1939 95 12 6 — n.c. Insc. Stock, 1938 95 12 6 — 61 n.o. Jnsc. Stock, l'J3o 99 7 6 99 13 0 4fc n.c. War Bands, 1938 95 12 6 •— 5 p.c. P.O. Bonds. 1927 95 5 0 — 6 p.c. P.O. Insc. Stock. 1927 95 5 n •— National Bank 5 18 6 5 19 6 Bank N.S.W. (new issue 3o 12 6 Bank New Zealand 2 15 0 2 15 9 Union Bank ...••< Daleety and Co. (c.d.) .. 13 0 0 13 2 6 10 6 0 — Goldsbrough Mort 2 1 0 —— National Mortgage 3 9 0 •— Gisborne Gas 0 10 6 — Napier Gas (.€10) 9 7 6 — Well. Gas (pref.) 0 15 6 — National Insurance 3 2 6 — N.Z. BefrigcratiiiK (£1) • 1 3 9 —— N.Z. Beirigerating (10e.) u 13 0 — Well. Meat Esp. (£3 12s. 6d.) ,. 2 10 0 —— (ord.) .. 2 10 9 2 11 9 Kalapoi Woollen lord-. c.d.) 1 5 0 Kaiapoi Woollen (con.) 0 10 3 0 11 6 Westport Coat 111 9 — Waipa Collieries 0 15 9’ 0 17 0 Taringamutu Totara ... 1 10 6 —— D.J.O. (pref.) - 0 19 9 —— Farmers’ Co-op. Auction. 016 coring (pref.) — 6 N.Z. Drug 2 11 9 2 12 9 Wairarapa Farmers 0 17 (pref.) 0 — Wilson’s Cement 0 19 0 —— Devonpcrt Borough De101 0 bentures / — 0