FARMING & COMMERCIAL

Dominion, Volume 16, Issue 148, 10 March 1923, Page 8

FARMING & COMMERCIAL

NEWS AND NOTES

AUCTION SALES FORTHCOMING FIXTURES. TO-DAY. 316 Taranaki Street, Wellington, 1.36 p.m.—Furniture sale (C. W. Price and Co.). MONDAY. MartinboTough, 12.30 p.m,—Stock sale. (Dalgety and Co. Ltd.). Dominion Avenue, Wellington, 2 p.m. — I Furniture sale (Vine and Wilson). I 195 Lambton Quay. WeHingtoi;r, 2.30 p.m.—Land sale (Harcourt and Co.). 137 lambton Quay, Wellington, 2.30 p.m. —Property sale (A. E. Carver and Co.). 137 Lambton Quay, Wellington. 2.80 p.m.—Laud sale (A. E. Carver and Co.). TUESDAY. Levin Yards, 12 noon. —Stock sale. 203 Lambton Quay, Wellington, 2.30 p.m. Property sale (Longmore and Co.). FARMING INTERESTS FROZEN MEAT LONDON QUOTATIONS. Messrs. M. A. Elliott, Ltd., Palmerston North, have received cable advice from Messrs. Gilbert Anderson and Co., Ltd., London, of tho following Smithfield prices for tire week ended March 9 (these prices are on the “delivered.” basis, that is, including storage charges, cartage, etc.) : —North Island prime Down lambs, U/36, 12}.; 36/42, 12}.; 42750, 12Jd. Best North Island prime crossbred lambs, U/42, 12}d. Ordinary North Island lambs, U/42, 12d.; second quality, U/42, 10}d. Best North Island wethers and/or maiden owes, 48/56, 9}d.; 56/64, 9d.; 64/72, Bd. Ordinary North Island wethers and/or maiden ewes, 48/56, 9d.; 56/64 8)d.; 64/72, 7Jd.; 0/72, 7d. North Island ewes, U/64, 7d. ; 64/72, 6}d.; 0/72, 6d. New Zealand prime ox beef (equal fores and hinds), 160/220, 4d. Chilled beef, fores 3}d., hinds 5Jd. Remarks: Lamb, }d. to |d. lower; mutton, -Jd. to jd. lower; j ox beef, jd. lower. Market dull. Messrs. Levin and Co., Ltd,, have received the following cablegram from their London agents, dated March 8: “Quotations: New Zealand prime Canterbury lamb, 28/42, 12}d. North Island'lamb, 28/42, 12}d. Prime Canterbury mutton, 56/64, 9d. North Island mutton, 56/64, 9d.; ewes, 48/6L, 7d. New Zealand prime ox beef, 160/220, hinds 4Jd., fores Bid. These prices are ex store. The market is depressed. As compared with last week’s quotations, lamb, mutton, and hinds of beef are unchanged. Ewes, (d. I per lb. cheaper; fores of beef, }d. per lb. ' cheaper.

FAT STOCK FOR EXPORT PRICES THIS WEEK. ThesXew Zealand Meat Producers’ .Board advises that the following prices were being offered for fat stock for export, on March 8: — Arickland.-yWethers. 641 b. and under, £}d. ; prime woolly lambs, 421 b. and under B}d., 43’b. and over, B}d.; second quality lambs, BJd. Poverty Bav. —Wethers, 641 b. and under, s}d.; prime woolly lambs, 421 b. and under B}d.. 431 b. and over B}d.; second quality lambs, B}d.; prime ox beef, 20s. per 1001 b.; second quality ox beef, 18s. per 1001 b. Hawke’s Bay. —Wethers, 641 b. and under, 6d.; prime woolly lambs, 421 b. and under 9}d.. 431 b. and over B}d.; second quality lambs, B}d. Wanganui.—Wethers, G4lb. and under, (il?; prime woolly lambs, 421 b. and' under 9Jd., 431 b. ar<l B}d. : second quality lambs, 81d. ; prime ox beef, 20s. per 1001 b.; now beef. 15s. per 1001 b.; heifer beef, 17s. 6d. per 100’b. Canterbury.—Wethers, 641 b. and under 6£d. ; prime woolly lambs, 421 b. and under, IOJ-d. Southland. —Wethers. 641 b. and under 6{d.; prime woollv lambs, 421 b. end under, 9|d.; second quality lambs, 9d.

COMMERCIAL ITEMS WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the morning call yesterday sales were reported of 5 per cent. P.O. War Bonds, 1927, at £97 10s., and National Bank shares at £6 Bs. 3d. At the afternoon call two sales of New Zealand Refrigerating, 10s. paid, each at 14s. 2d., were made on ’Change, and the sales reported were Wellington Trust and Loan at £5 155., P. and 0. Deferred Stock nt £315, and Wilson’s Cement nt £1 4s. 3d. There were no changes in the quotations for stocks and bonds. National Bank shares were a shilling batter with buyers at £6.85., and Union Bank at £l3 19s. were also a shilling higher. Dalgety and Co.’s shares were in good demand at £l2 55., and New Zealand Loan and Mercantile ordinary stock advanced £1 to £B5. Gas shares were firm without any change in values. National Insurance shares were 6d. dearer at £3 155., and Standard Insurance were 3d. higher at £1 13s. 6d. Meat shares were firm; New Zealand Refrigerating were a shade higher. Huddart-Parker ordinary shares were firm at £2 19s. and Union Steam preference at 19s. lOd. Wellington Woollen shares were firm at £8 12s. 6d. Westport Coal were 3d. higher at £1 15s. 9d., and Timber shares were firm and unchanged. Glaxo Debentures were in good demand at £9l. There were buyers of Manning and Co. brewery shares at £4 Ils. 6d., N.Z. Drug at £2 18s. 3d. cum dividend, N.Z. Paper Mills at 245. 9d., an advance of 3d., and Ward’s and Co.’s brewery at 355. Yesterday’s buying and selling quotations wore as under—

THE CHEESE MARKET PRICES VERY FIRM The cheese market is exceptionally firm. Prices advanced, last week for New Zealand cheese, coloured being 4s. to 6s. per cwt. Richer, and white its. higher. 'Die quotations for the past four weeks were as follow:—

In August last cheese was selling at 86s. ; by the first week in November tho price had jumped to 1305., and ever since it lias fluctuated between

120 s. and 130 - It is now showing a rising tendency. The improvement in value was mainly <lue to the big decrease of about 400,000 boxes in the Canadian output. The market has been kept very short ever since, with no chance of supplies being adequate until about the end of this month or early next month. It is stated that one or two of the multiple shop concerns secured ample supplies when prices were low, and they have kept the retail figure at Is. 2d. per lb., which caused the remainder of the trade to follow even at a loss, and the consumption therefore was kept up. The strong consumptive demand has prevented accumulation of stocks, consequently there has been no over-kept or damaged cheese worth mentioning. The imports of cheese into the United Kingdom in the years 1922 and 1921

There was a contraction of 158,000 cwt. in the imports last year as compared with 1.921, and it is this decrease that has affected the price. EXCHANGE RATES. (Rec. March 10. 0.5 a.m3 London, March 5. Foreign rates of exchange on March 8, as compared with par rates or as aver-

MINING NEWS ' WELLINGTON SHARE MARKET The following was the only quotation recorded in the mining market yesterday:— Buyers. Sellers. £ s. d. £ s. d. Waihi .Grand function 0 8 7 — STOCK EXCHANGE. BY TELEGRAPH.—PRESS ASSOCIATION. Auckland, March 9. Sales: New Zealand Inscribed. 1938,. £97 10s.; Bank of New Zealand, 575.: National Insurance. 755.; River Plate. 21s. 6d. ; Milne and Chovce 245., debenture ?3s. 9d. Christchurch l March 9. Sales reported: National Bank, £6 Bs. 6d.; Adelaide Steamship. £1 35.; Dunlop Rubber (cum. div.), £1 3k. 9d.: Waihi, £1 Bs. 6d.; Burns, Philp, 335. 6d. Sales: Natior.pl Bank. £6 Bs. 3d.: Bank of New South Wales, £37 17s. 6d. (two parcels), £3B. Dunedin, March 9. Sales: New Zealand Insurance, 28s. (four sales), 28s. Id.; Westport-Stockton Coal Co. (pref., cum. div.), Bs. 9d.; New Zealand Refrigerating Co. (cont.), 14s. Id., 14s. 3d.; Mount Lyell. 255. 6d., 25a. 9d. Sale reported; P. and O. deferred stock, £315.

Buyers. £ s. d. Sellers. £ a. d. WAR LOANS— 44 p.c. Inec. Steck. 1939 97 0 0 — 44 p.c. Inoc. Stack, 1938 97 0 0 97 5 0 54 p.c. Inso. Stock, 1933 — 101 2 6 6t p.c. Inao. Stock, 1927 — 101 0 0 4i p.c. War Bonds, 1939 97 0 0 — 4} p.c. War Bonds, 1938 97 0 0 —— 44 p.o. War Bonds. 1930 97 0 0 — 5K p.c. War Bonds. 1933 100 17 6 ——• 5 o.o. P.O. Bonds, 1927 97 7 6 —— 5 p.c. P.O. In». Stk., BANKS1927 97 7 6 — National 6 8 0 —■ — 2 17 3 Union 13 19 0 FINANCIALAbraham and Williams (ord.) ••••■ 4 5 0 Dnlffotv and Co. 12 5 1 National Mortgage (c.d.) — 4 0 0 N.Z. Loan, Merc, (ord.) 85 0 0 —— GASAuckla.nd 1 5 3 1 6 0 Nanier (£10) 10 2 6 — Wellington (pref.) 0 16 6 — Ditto (debentures) ...105 0 0 — Ditto (fractions) 0 5 8 —— INSURANCE3 15 0 ... ■ New Zealand 1 8 6 Standard (x.d.) 1 13 6 —— MEAT FREEZING— N.Z. Refrigerating (10b.) 0 14 1 0 14 6 Gear 2 10 — Well. Moat Exp. (£5) ... — 4 12 6 Ditto (£3 12b. fid.) ... — 3 3 6 TRANSPORT-IIudda.rt-Po.rker (c.d., ord.) 2 19 0 2 19 9 Union Steam (pref.) ... 0 19 10 — WOOLLENKaiapoi (ord.) 1 4 3 Ditto (contrib.) — 0 12 0 Wellington (ord. and pref.) 3 12 6 —— COALWestport 1 15 9 —- Westport-Stockton (ord.) 0 4 4 — Wairifi 0 16 9 — TIMBERKauri 1 7 3 —. Leyland-O’Brien 1 17 0 — Taringamutu 1 11 0 — MlSOFLTANl'.OaS0. M. Banks 1 2 6 — Crown Brewery .. — 2 1 9 DentaK and Medical Z. 13 3 1 5 6 D.I.O. (pref.) 1 0 2 , Glaxo 'debentures) 91 0 0 —— Manning and Co. .. 4 116 National Electric 1 1 0 — N.Z. Drug (c.d.) 2 18 3 —— N.Z. Paper Mills .. 1 4 9 — Sharlmd and Co. 1 1 6 — Ward and Co 1 15 0 — Wilson'a Cement .. 14 0 1 4 9

Coloured. Per cwt. White. Per cwt. Mar. 3 . .. 136s. to 140s. 134s. to 138s. Feb. 24 .. . 130s. to 136s. 130s.. to 134s. Feb. 17 .. ,. 126s. to 130s. 126s- tolSSs. Feb. 10 .. . 120s. to 128s. 122s. to 126s.

were as follow’: — 1922. 1921. Cw't. Cw’t. New Zealand 1,294,779 1,302.766 949,1G2 1,195.661 Netherlands 175,761 128,032 40,256 7,447 United States .... 21,998 49,063 Australia 99,720 83,622 Other countries .. 77,783 50,874 2,659,464 2,817,465

n™rt"first half of 1914, are as follow:— Mar. 5 Mar. 8. Par New York, dols. to £1 4.703 4.70 4.36 2-3 Montreal, dols. to £1 4.70 4.783 4.86 2-3 Paris, francs to £1 77.05 77.70 25.224 Stockholm, knr. to £1 17.67 17.65 18.159 Christiania, knr. to £1 25.75 25.95 18.159 Copenhagen, knr. to £1 24.55 24.56 18 159 Berlin, marks to £1 106,000 101.COT ZZ.43 Home, lire to £1 .. 98 99ft 25.234 Yokohama, pence to yen 24£ 24 11-16 24.43 Galoutta, pence to rupee 16J 16 3-16 25 Hong-Kong, pence to dol. 27J 272