FARMING & COMMERCIAL

Dominion, Volume 16, Issue 88, 10 January 1923, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. 157 Lambton Quay, Wellington, 10.30 a.m. —Furniture sale (Johnston and Co.). | Dominion Avenue, Wellington', 2 p.m.— I Furniture sale (Vino and Wilson). Johnsonville Yards. 2 p.m. —Stock sale. TO-MORROW. Otaki Yards, 1 p.m.—Land sale (Da I get y and Co.). Upper Hutt Yards, 1 p.m.—Stock sale. FARMING INTERESTS WOOL MARKET — VERY FIRM TONE AT BRADFORD. (Rec. January 9, 9.45 p.m.) London, January 9. The Bradford wool market is very firm, topmakors adopting a protective policy. There is little actual business. Sixty-fours aro quoted at 63d. per lb. —Aus.-N.Z. Cable Assn. KEEN DEMAND AT SYDNEY SALE. (Rec. January 10, 0.5 a.m.) Sydney, January 9. Tho wool sales woro continued today. There was the keenest demand. —Press Assn. SOUTHDOWN SHEEP NEW FLOCKS BEING FOUNDED.’ The exceptionally good prices for Now Zealand lamb have lea to. very keen inquiry for Southdown rams, and breeders of this class of stud sheep report a splendid season. In connection with the keen inquiry for Southdown sheen and the development of the fat lamb trade. Messrs. Wright, Stephenson and Co.. Ltd., report that their stud stock department has just completed the sale of one of the best Southdown studs in Hawke’s Bay. This stud is to bo transferred to the Marlborough province. which should be a very suitable environment for the Southdown. Tho purchaser is Mr. Chris Smith, of “Riverlands,” Blenheim. The stud in Question was first established at “Wangaehu,” Masterton, by the late Mr. Falloon, and it was founded on practically all imported blood, many of the best strains introduced from the Old Country being used consistently in the stud, as Mr. Falloon recognised that only by using imported blood could ■ the stud bo kept in the very forefront. At his death it was carried on by his son. Mr. A. H. Falloon, and eventually that ventleraan so]d it in its entirety to Mr. Ronald Macdonald. Dannevirke. In Mr. Macdonald’s hands the stud had a very successful career, and during the nast two years rams bred by Mr. Macdonald topped the fair at Dnnnevirke. In the show ring a remarkable run of successes was also gained with renresentatives of the, stud both at oodville and Dannevirke Shows. , At tho latter show, in competition with eiirht other breeders, Mr. Macdonald won twenty-eight prizes last year. Mr. Smith has purchased the entire stud, including the prize , sheep, amongst which is one of the finest ewes in the country. This ewe was champion both at Woodville and Dannevirke Shows , last year. The whole of the ewes with lambs (over 100 per cent.), together with tho three valuable stud rams, were secured by Mr. Smith. The rams were bred by the well-known " 1 Canterbury breeder. Mr. J. Johns (of Belfast), Mr. J. Turner (of Eketa- . huna), and Mr. J. Gray (Dnnnevirke), and are a very fine trio. Delivery of i the sheep wjll be given in February, i following on the Dannevirke Show. The deal ran into four figures. <

DAIRY PRODUCE BUTTER AND CHEESE GRADED. Tho following dairy produce grading figures have been prepared by the Da'ry Division, Department of Agriculture :— Butter Butter graded ■ graded (salted), (unsalted). Cwts. Cwts. Total. December 1922 184.806 10.350 J 95.156 December, 1921 162.560 Increase, equal 20.04 per cent." Total for 5 months ended Dec., 1922 664,662 48,593 713,7.->5 Do., Dec. 1921 498,885 Increase, equal 42.97 per cent. Cheese Cheese graded graded (white), (coloured). Cwts. Cwts. Total. December, 1922 136.954 74.617 December, 1921 199,690 Increase, equal 5.95 per cent. Tote’ for 5 months ended Doc., 1922 284.686 162,958 447 644 Do., Dec., 1921 . 513,865 Decrease, 12.88 per cent. Converting these figures into butterfat equivalent, there is an increase oi 24.97 per cent, for tho five months as comnared with the corresponding period for 1921-22.

CANTERBURY MARKETS BY TELSGBAPH—PUBES ASSOCIATION. Christchurch, January 9. Business is still quiet, and so far no new season’s stuff has made its appearance. The cutting of wheat and oats is being carried out in various parts of Canterbury, and the thrashing of ryegrass has commenced, the first offerings of which are expected to be fairly poor, a® is usualy the case. With regard to cocksfoot on the Peninsula, reports aro that the crop this season will bo a poor one. Ono of the reasons for this is that fog and goosegrass have become mixed with the cockstoot to quite a considerable extent. So far very few potatoes have come forward, and only a little forward business hns been done. WHOLESALE PRODUCE PRICES

Messrs. Laory and Co., Ltd., Wellington, report wholesale prices as follow : —Barley meal, £9 per ton; pea meal, £9 per ton; pig meal, £6 per ton; wheat meal, for stock feed, £ll per ton, sacks in; maize meal, 6s. per bushel; linseed meal, for calves, win-' ter milk dairy cows, and pigs, 14s. per 1001 b.; linseed nuts, 13s. 6d. per 1001 b.; meat meal, for poultry, 16s. 6<l. per 1001 b. ; Sucrosine, Ils. per 1001 b. ; shell grit, in 1001 b. bags, 6s. 6d. per bag; feed oatmeal, for chickens, 13s. 6d. per 1001 b. ; feed roller oats, for chickens, 16s. 6d. per 1001 b.; fowl wheat, choice, whole, five-sack lots or over, ss. Bd., lesser .quantities ss. lOd. per bushel, sacks Is. Id. ; barley, Chevalier, 4s. Id. per bushel, sacks in: oats, machine dressed, seed Algerians 4s. lid., choice Duns 4s. Id., B Gartons 4s. Id., fjeed Gartons 3s. 10d., crushed oats 45.”2d., feed Algerians 3s. 9d., feed Sparrow Bills 3s. lOd. per bushel, sacks in ; shelled oats, for chickens. ss. per bushel, sacks in ; mixed fowl feed, five-sack lots or over, 4s. 10d., lesser quantities ss. per bushel, sacks in; peas, feed, 6s. 3d. per bushel, sacks in ; maize, whole ss. Id..' crushed ss. 7d.. sacks in, seed maize 90-day 9s. 9d., Hickory King Ds. 9d., 11’11110 Horse Tooth 9s. 9d. ; mutton birds. Tasmanian, in casks, sd. each, New Zealand, in kits, cooked and salted, 9d. each; butter, fanners, separator and. dairy, prime Is. 3d. to Is. 4d., medium quality Is. Id. to Is. 2d. per lb. ; eggs, fresh, Is. 6d. to Is. 7d. per dozen ; fowls, hens 4s. 6d. to- 6s. pair, heavy roosters ss. to 6s. pair; ducks, Runners 6s. to Bs. per pair, white varieties 9s. to Us. pair; geese, 9s. to 10s. per pair; turkeys, Is. 2d. to Is. 4d. per lb. ; baled straw, £4 ss. per ton; molasses, in 5 cwt. casks, 355. per cask; fungus. Bd. to 9d. per lb. ; dressed pork, 60s. to 905., sd. to 6d. per lb. : rocksalt, 6s. 6d. per cwt.; chaff, Blenheim, ton lots or over, £8 ss. per ton, sacks in.

COMMERCIAL ITEMS

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES Thera woro no recorded at the- morning call yesterday, but at tho afternoon call sales were reported of 5| per cent. Inscribed Stock, 1933, at £100; 5J per cent. War Bonds, 1933, at £100; Wellington Gas Company's debentures at £lO5, and Kaiapoi Woollen ordinary shares at 255. There was again a good demand for gilt-edged securities, and the 44 per cent, stocks and bonds were up 2s. 6d. to £96 7s. Gel., which was the closing quotation before the holidays. I'or tho 54 per cents.. 1933. buyers raised their bids bv ss. to £99 15s. Bank of Australasia shares were Is. higher, with'buycrs at £l2 18s. 6d.. ana Union Bank shares were 2s. higher at £l3 13s. Bank of New South Wales shares were in demand nt £3o 2s. 6d., and Bank of New Zealand shares were on sale at £2 17s. 6d. Goldsbrot'vh Mort and Co.’s shares were Is. 6d. higher at £2 2s. 6d.. and there were buyers of National Mortgage at £3 10s.. and Wellington Trust and Loan at £5 10s. Wellington Gas shares were firm nt the previous day s quotations. There were buyers of New Zealand Insurance shares nt 28s. 3d., a.nd Routh British Insurance shares at 36s 6<l. New Zealand Refrigerating shares, 10s. paid, were 6d. higher, with bnvers at 14s. 6'1.. and (/ear Meat shares were in demand at 355. Hnddnrt-Parker ordinary ahares were a shilling Ir’gher at £2 13s. 6<L, and there were buyers of P. and O. Deferred Stock at £320. Woollen shares were quiet. There were buyers ot Kaiapoi Woollen ordinary shares at 24s 9d. and Mosgiel Woollen at £6 7s 6d There was a ouotation yesterday for 'Westport Coal shares, buyers offering £1 14s. 3d. In the miscellaneous section there was Quite a lot of business offering, but sellers appear to bo scarce. . Yesterday’s buvmg nnd selling quotations were as under

MOVEMENT IN CROSSBREDS

A WELCOME ADVANCE

The Wanganui wool sale, held on Monday, was one of the most satisfactory so far as crossbred wool is concerned held this season satisfactory in as much as it was the rougher and coarser classes of wool that registered the increment in prices. There was practically no pronounced increase

in the best qualities that would have fitted the American market, but these better qualities sold at small advance on the Wanganui November sale. Since the first sale in Wanganui on November 29, a sale was .held in 'Wellington on December 7, Avhen there was an all-round advance of Id. per lb. on crossbred wool, so that the advance of Id. to 2d. quoted by Wanganui has to be discounted by the amount of the advance recorded at the Wellington sale. The average prices obtained at tho Wellington and Wanganui sales compare as under :— Wellington Wanganui

Average coarse crossbreds show the heaviest gain, and it is pleasing to find buyers so eager, and that there is such a healthy demand for New Zealand wools. Buyers are apparently prepared to absorb everything offered them, and in this connection it was stated in a review of the wool sales that it might be doubtful whether, if the heavier portion of tho New Zealand clip was marketed in December and January buyers would possess the financial resources to lift such a heavy Aveight of wool. This did not imply that the financial standing of the buyers, whether foreign or local, was in question, but was merely a general statement to indicate that the providing of several millions sterling, which would be' involved, in a short space of time would present nanv difficulties os no doubt it would, than if the financial arrangements were spread over a longer period of time. CUSTOMS REVENUE.

Customs revenue collected at the port of "Wellington yesterday totalled £4853.

LONDON STOCK EXCHANGE. AUH.-N.Z CABLE ASSOCTA TIO.S. (Rec. January 9. 9.45 p.m.) London, January 9. Quotations on tho Stock Exchange include:- —Waihi shares. 345. 9d. ; Waihi Grand Junction, 9s.

PRICES OF METALS. (Rec. January 10, 0.5 a.m.) London, January 8. Copper.—On spot, £64 Bs. 9d. per ton ; forward delivery, £65 3s. 9d. Lead, £26 12s. 6d. and £26 2s. 6d. Spelter, £35 12s. 6d. and £33 17s. 6d. Tin. £179 6s. 3d. and £lBO 15s. Bar silver, 32 l-16d. per ounce standard.

EXCHANGE RATES. AUS.-N.Z. CABT.B ASSOCIATION. (Rec. January 9. 9.45 p.m.) London, January 9.

Foreign rates of exchange on January 4, as compared with par rates or as averaged first half of 1914, are as follow:— Jan. 4 Jan. 9 Par.

MINING NEWS WELLINGTON SHARE MARKET The following quotations were recorded in the mining market yesterday Buyers. Sellers. , £ s. d. £ a. d. Waihi - 1 15 0 Waihi Grand Junction.... —• 010 9 STOCK EXCHANGE. . BT TELBCBAPH—"»r»» ASSOCIATION. Auckland. January 9. Sales—Hank of New Zealand, 575. 6d.; Waihi, 355., 345. 9d.; Grand Junction, 10s. Bd. Christchurch, January 9. Sales reported—New Zealand Government 5$ per cent. 1933 War Loan. £100; Goldebrough Mort, £2 3s. 6<1.; Crown Brewery, £1 18s.; Electrolytic Zinc. Is Bd. Duncdin B January 9. Sale—Refrigerating (con.). 15s. sd. Sale reported—Westport Coal, 341. Cd.

£ s. d. £ 8. d. W<R LOANS45 p.c. Tnnr. Stock; 19’9 »6 7 6 — Al- n o. Tns*. 96 7 b , 51 p.c. Tn«c. Stock. 1933 99 15 0 100 0 0 no Wir Bonds, 96 7 6 At n c. War Ronds, 19.39 96 7 6 9f 0. 0 War Pond.!, 19’A 96 7 (T 97 0 0 fit r> c. War Bonds. 1933 99 16 0 100 5 0 BANKS— A ustralnFia 12 18 6 National 6 8 6 New South Wales 36 2 6 New Zealand — 2 17 6 Tinlon 13 13 0 —• FINANCIAL— Goldsbrouph Mort 2 2 6 — National Mortgage ... 3 iti 0 — Welington Trust Loan 5 10 0 — GA'S— 7 Wallin (ft on Cord. ) 10 10 0 — Wellington (pref.) 0 15 9 •— Well. Debenture 05 0 0 —■ Well F' , -/’tlons 0 5 3 — INSURANCE— New Zealand 1 8 3 18 9 South RrltJab 1 16 6 — MEAT EREEZINO— N.Z. Refrig. .10s.) 0 14 6 — 1 15 0 —• transport— Huddnrt-Rrrk-'r (ord.) 2 13 6 —r P a”d o. Def. Stock 320 0 0 — WOOLLENKaiapoi (ord.) 1 4 9 Kaiapoi (con.) 0 12 6 — Mo'gicl 6 7 6 . COAL— 1 14 3 TIMBERTarin mil hi 1 10 0 — MISCELLANEOUS— Colonial Siwar (Aus.) d5 0 0 — Don. and Med. Supply — 13 3 Howard Smith 2 5 0 National Electric 0 6 — N.Z. Drug 2 * 6 —— N.Z. Paper Mills 1 2 6 •— Whitconibe and Tombs 3 5 0 —- Wilson's Cement 1 2 4 — Well. City Cnl.. b n.c. — 106 0 0

Crossbred fine. sale. sale. 46’s to 48’s. d. d. d. d Super ... 12} to 14} 12} to 14} Average ... 10 to 12 11 to 13} Inferior 8 to 10 8} to 10 -Medium, 44’s to 40'sSuper ... Hi to 13} 12 to 13} Average .... y to 11} 9 to 12} Inferior . 7 to 8} 7 to 9 Coarse, 40’s to 44’sSuper ... 9 to 10 J 10 to 10} Average 7 :1 to 9 9 to 10} Inferior .... GJ to 7 5 7}to 8} Low, 36’s to 40’sSuper ... 8} to 9 8}to 9} Average .... 7} to 8} 7 to 8} Inferior 6} to 71 6}to 7} Taking the middle prices at the two sales, the increases realised at Atanganui can be more readily noted. The figures are as under: — Fino Wellington. V anganui. Inc. crossbred--d. d. d. Super ... . 13} 139 0} Average . .. 11 121 H Inferior . .. 9 01 01 Medium crossbred — Super ... .. 124 12# 01 Average . .. 101 •10} 0} Inferior . ’• < K 8 0} Coarse crossbred— Super .... .. 9? 10} 0} Average . .. 84 ‘ 9} U Inferior . .. 7} 4 S’ 0} Low crossbred— Super .... . 84 84 0} Average .. 7J 7} Inferior . 74 0} ’’Fall of OJd.

New York, dels, to £1 4.642 4.642 4.86 2-3 Montreal, dols. to £1 4.682 4.662 4.86 2-3 Paris, franca t-o £1 ... 65.15 68.15 25.223 Stockholm, knr. to £1 17.27 17.30 10.159 Christiania, knr. to £1 2.4.56 23.83 18.1.°9 Copenhagen, knr. to £1 22.70 22.81 18.159 Berlin, marks to £1 ... 37.500 44 5CO 20.43 Rome, lire to £1 90S 934 25."2J Yokohama.pence to yen 25 5-16 251 24.43 Calcutta, pence to rupee 16ft 116J • 24 Hong-Kong, pence to dol, 27 272 25